By
Sampson Iroabuchi Onwuka
Removal of Oil Subsidy
The advice that he Madam Ngozi-Okonjo-Iweala has so far offered should be considered from the wrong and right, but the product of that financial class which includes the current crop of managers at the helm of Nigeria financial Cabal are advocating projects and programs that does not at the moment seem to break the rules of economic growth, but has trapped Nigeria and the Nigerians into a future which the development project will determine.
The advice that he Madam Ngozi-Okonjo-Iweala has so far offered should be considered from the wrong and right, but the product of that financial class which includes the current crop of managers at the helm of Nigeria financial Cabal are advocating projects and programs that does not at the moment seem to break the rules of economic growth, but has trapped Nigeria and the Nigerians into a future which the development project will determine.
There is little or nothing anyone
has said about this and many people who seem to support this position by the
Nigerian President and the Minister for Finance and Development Mrs Ngozi
Okonji-Iweala has left no useful reaction to this development saying that
of the expenses associated with Crude oil.
What is the opportunity cost of
removing oil subsidy? It is somewhere between 15-25% inflation which is a form
of taxes and outside the bargaining power of these Nigerians, they are expected
to once endure out the high rise of inflation of some quality. The whole role
call on why the public is expected to endure this situation failed to indicate
that it was a parsimony for IMF and WORLD BANK, as if the use of Euro or
foreign denominated currency in Nigeria is a sign of privilege or that the
attempt of Nigerian Bankers to create in Lagos or Abuja a kind of Canary Wharf
is not absurd enough.
It does appear that the African Economies
are attempting to fund their own investment on a level not quite seen before.
Perhaps, it is the entrance of China or Re-entrance of Russia into Africa that
changed the focus of Africa, but others such as Robert Mugabe who has seen it
all, may not exactly identify with the new spirit. It does not mean that the
end is here for the old type of African Big man or woman, rather, a new period
of economic transition and growth calls for Nigeria and African involvement in
total world affairs.
Perhaps it is foreign interest in a country like Nigeria that makes the difference. It began to take place in sizable amount in recent times but only covered a few sector. This funds are mainly driven by private and not public entities and there are pesky issues of development, degree of development associated with state to state development or the decentralization of Lagos and Abuja as the hub of Nigerian business life, where as half a century ago, these centers included Aba, Calabar, and Kano, which as central to the commerce weight of the country.
And the idea of Federal Government expansion is the opportunity cost of defraying its expenses to help its Government crusade on privatization. Since no incentives for such bold endeavors exist, we have to mention that Nigerian financial structure needs a new form of economic redemption or may be facing a present adverse effect with future consequences.
Perhaps it is foreign interest in a country like Nigeria that makes the difference. It began to take place in sizable amount in recent times but only covered a few sector. This funds are mainly driven by private and not public entities and there are pesky issues of development, degree of development associated with state to state development or the decentralization of Lagos and Abuja as the hub of Nigerian business life, where as half a century ago, these centers included Aba, Calabar, and Kano, which as central to the commerce weight of the country.
And the idea of Federal Government expansion is the opportunity cost of defraying its expenses to help its Government crusade on privatization. Since no incentives for such bold endeavors exist, we have to mention that Nigerian financial structure needs a new form of economic redemption or may be facing a present adverse effect with future consequences.
Removing oil Subsidy is a 'necessary
evil' if there is anything like that. It is an extreme measurement. For the
sake of money we must indicate that 'extreme measure' for the least good is not
a necessary evil. It must also be said that no ends can justify any means that
ignores public welfare, but against the heavy corruption of Nigerian Oil
industry and heavy burden of debt on debt, the no subsidy economic policy is
lesser of the two evils.
With all things considered, it may seem that the year will not end as it began. Nigeria is holding quite well, buying Naira, and wasting money from the little available resources and hoping to stay afloat in spite of the new found technologies in many parts of the given world.
With all things considered, it may seem that the year will not end as it began. Nigeria is holding quite well, buying Naira, and wasting money from the little available resources and hoping to stay afloat in spite of the new found technologies in many parts of the given world.
II Lapses in Nigerian Investment
Strategy
But there are investment vehicles
that the both ministers; Ngozi Okonjo-Iwela (Finance Minister) and Olusegun
Aganga (Investment and Trade) can implore in helping the growth of local
businesses in Nigeria, particularly the area of Investment and Trade.
One of which is the area that is
associated with growing Nigerian businesses from local investment category of Pre-IPO,
to standard IPO markets for or from the Nonpoor. Investment in
Nigeria is not always projected towards foreign investing crowd many of whom
operate under-investigated entities. When they are consulted - assuming they
are, they sail from some underground and unheard off board-room to Nigeria, and
arrive Nigerian with no intentions of buying regular shares or toe private
placement, rather are interest with their papers to buy out preferred stocks in
the most lucrative Nigerian businesses.
I mean the whole process is so easy that nearly anyone can have a field day in Nigeria as a foreign investor. What the Nigerian Government has done in the past 10 years requires no large frame looking glass to prove their point about the country, and adding the recent war against illegal bunking of Crude Oil in recent times and drugs, there are reduced questions about the future of Nigerian Crude oil.
Beginning with (a) Finance and organization with due respect to banks and the debt or equity based interest of the federal government (b) Internet Network Structure which some feel has received attention in the last 10 years, yet has nothing to offer in terms of new programs and software such as Security Software or any programs that allow the rest of us to more about our business.
(c) Hospital and Medical management, and en-pound for metal equipment and hospitals for physically disabled or mentally re-covering, asylum for people consider longer term recovery programs (d) then there is the quality of monitoring investment, for local and foreign investment grade, particularly foreign investment group since the country is already overweight on 70% foreign direct Investment (e) and improving the 'Seaports that will require more than a fair share of foreign investors or individual attempts at re-vamping the Nigeria 34 airports, some of it is out of use.
Strangely enough, Nigerian Airways is turf on the new and newly renovated Airports and are managing the long queues with only 8 operational Air Ports and 2 Heliports, and for the records only 3 of these Air ports are International and they guzzle their passengers with price. But under this pattern, the long horn emphasis on others to develop Nigeria or add to its green will not paper out the demands on the grounds. In essence, it mean seem realistic that the country can only care for its citizenry by the provisional resource allocation of the
These sectors that need more social programs, or would require government expansion and active supervision to re-open will have to wait unless a new round development begins. It however makes for a second kind of argument that if we are talking of employment opportunities, we cannot use Lagos or Abuja to draw conclusion, we must, in particular Mental Health of the patients and doctors or nurses supervision to expansion of Benefits.
A grid system in terms of the Nigerian Social Service and State I.D or number is another means of ensuring that newly graduated Nigeria or fairly new Nigerians are successfully - if not dutifully employed, and these measures if have applied or pursued by the seating government will help to track down violent activities in any one simple part of the country and will also speed up the hunt for loose cannon groups anywhere in the country and in West Africa.
The Grid System is security deposit on the future of any economy's widening demographic and will create means that will promote jobs now and for the future. Such grid system or social identity is not an academic exercise, is far from just a symptom of what Nigerians have learned over the years in places such as Canada or what some of us can still state accurately about the highly coveted and challenged U.S health care industry, rather it is a process of creating work and employment.
A journalist Mbonobong Nsehe > Why African may not really (stay ahead of the Council) Some of the investment which for instance flourishes in Kenya is given by low conversion rate, but generally Tourism is not news - Some of the growth associated with South Africa. The Whole/open yards of human organizational integration (2) Policy analyst and public health structure (3) design, function, management regulations 'Natural and political Observations' Defy
But for medical insurance (medical insurance) to work, Jobs has to work SS2; Social Security 'make easy the age of social security' at least place the 'Grid System' and sometime in the Past, Forbes - listed five Great Investment that anyone can make in Africa but none the mentioned investment has long life if there is no political stability in Nigeria or the Regional West Africa.
The damage to the housing industry is undiagnosed and housing projects promote the credo Re-denomination all these may not happen given the dollar to Naira ratio, and with all due respect to the large house foreign investment – which in real time is not real money – the weight of any nation, particularly developing nation-, is carried by local businesses and local investment and this group which are often neglected amount for the larger percentage of any economic transition of any country. Simply put, develop or encourage the local sector and you will find real time investors more comfortable with long term investment.
Once, it is the due diligence towards enabling Small Business Administration and financial bus stops, small business investing companies and Crowd, or Angel Investing are financial instruments and items that are not purchased from high grounds, that gradually transition takes form and maturate. No IPOs will suffice the steps if it intends on climbing. The financial instrument from banks and from private investment or financial institutions should be present and running in Nigeria, especially now the traditional lending between business to business and between businesses to private is no longer at ease in Nigeria or in many parts of the leading economies.
The lending business should not be facing competition especially at the very early stages of such country, the current 'Capital Gap' to 'Corresponding Investment Opportunity' out in spite of the enormous restriction on Credits in Nigeria, and in the end, start up services between the states are articles or interest in the country, and where the financial department should be making the greatest efforts.
Investment in Nigerian markets also requires education and financial literacy and under the new programs slated to meet these projects, there are much more the finance and investment ministers can actually do. We may no longer achieve any form of output in Agriculture if tons of produce from local farmers find their way on the next ship overseas. Like the President once hinted, you cannot place any form of embargo what farmers intend to do with their produce, that it was really up to them. The reason why the area of Agriculture and the production of Soy Milk and other root crops make their way to India and to Asia may be reduced to profits from exchange rate and if the trend continues, accounting for returns on Agriculture which the common citizenry will prefer any day to other things will be quite difficult.
I mean the whole process is so easy that nearly anyone can have a field day in Nigeria as a foreign investor. What the Nigerian Government has done in the past 10 years requires no large frame looking glass to prove their point about the country, and adding the recent war against illegal bunking of Crude Oil in recent times and drugs, there are reduced questions about the future of Nigerian Crude oil.
Beginning with (a) Finance and organization with due respect to banks and the debt or equity based interest of the federal government (b) Internet Network Structure which some feel has received attention in the last 10 years, yet has nothing to offer in terms of new programs and software such as Security Software or any programs that allow the rest of us to more about our business.
(c) Hospital and Medical management, and en-pound for metal equipment and hospitals for physically disabled or mentally re-covering, asylum for people consider longer term recovery programs (d) then there is the quality of monitoring investment, for local and foreign investment grade, particularly foreign investment group since the country is already overweight on 70% foreign direct Investment (e) and improving the 'Seaports that will require more than a fair share of foreign investors or individual attempts at re-vamping the Nigeria 34 airports, some of it is out of use.
Strangely enough, Nigerian Airways is turf on the new and newly renovated Airports and are managing the long queues with only 8 operational Air Ports and 2 Heliports, and for the records only 3 of these Air ports are International and they guzzle their passengers with price. But under this pattern, the long horn emphasis on others to develop Nigeria or add to its green will not paper out the demands on the grounds. In essence, it mean seem realistic that the country can only care for its citizenry by the provisional resource allocation of the
These sectors that need more social programs, or would require government expansion and active supervision to re-open will have to wait unless a new round development begins. It however makes for a second kind of argument that if we are talking of employment opportunities, we cannot use Lagos or Abuja to draw conclusion, we must, in particular Mental Health of the patients and doctors or nurses supervision to expansion of Benefits.
A grid system in terms of the Nigerian Social Service and State I.D or number is another means of ensuring that newly graduated Nigeria or fairly new Nigerians are successfully - if not dutifully employed, and these measures if have applied or pursued by the seating government will help to track down violent activities in any one simple part of the country and will also speed up the hunt for loose cannon groups anywhere in the country and in West Africa.
The Grid System is security deposit on the future of any economy's widening demographic and will create means that will promote jobs now and for the future. Such grid system or social identity is not an academic exercise, is far from just a symptom of what Nigerians have learned over the years in places such as Canada or what some of us can still state accurately about the highly coveted and challenged U.S health care industry, rather it is a process of creating work and employment.
A journalist Mbonobong Nsehe > Why African may not really (stay ahead of the Council) Some of the investment which for instance flourishes in Kenya is given by low conversion rate, but generally Tourism is not news - Some of the growth associated with South Africa. The Whole/open yards of human organizational integration (2) Policy analyst and public health structure (3) design, function, management regulations 'Natural and political Observations' Defy
But for medical insurance (medical insurance) to work, Jobs has to work SS2; Social Security 'make easy the age of social security' at least place the 'Grid System' and sometime in the Past, Forbes - listed five Great Investment that anyone can make in Africa but none the mentioned investment has long life if there is no political stability in Nigeria or the Regional West Africa.
The damage to the housing industry is undiagnosed and housing projects promote the credo Re-denomination all these may not happen given the dollar to Naira ratio, and with all due respect to the large house foreign investment – which in real time is not real money – the weight of any nation, particularly developing nation-, is carried by local businesses and local investment and this group which are often neglected amount for the larger percentage of any economic transition of any country. Simply put, develop or encourage the local sector and you will find real time investors more comfortable with long term investment.
Once, it is the due diligence towards enabling Small Business Administration and financial bus stops, small business investing companies and Crowd, or Angel Investing are financial instruments and items that are not purchased from high grounds, that gradually transition takes form and maturate. No IPOs will suffice the steps if it intends on climbing. The financial instrument from banks and from private investment or financial institutions should be present and running in Nigeria, especially now the traditional lending between business to business and between businesses to private is no longer at ease in Nigeria or in many parts of the leading economies.
The lending business should not be facing competition especially at the very early stages of such country, the current 'Capital Gap' to 'Corresponding Investment Opportunity' out in spite of the enormous restriction on Credits in Nigeria, and in the end, start up services between the states are articles or interest in the country, and where the financial department should be making the greatest efforts.
Investment in Nigerian markets also requires education and financial literacy and under the new programs slated to meet these projects, there are much more the finance and investment ministers can actually do. We may no longer achieve any form of output in Agriculture if tons of produce from local farmers find their way on the next ship overseas. Like the President once hinted, you cannot place any form of embargo what farmers intend to do with their produce, that it was really up to them. The reason why the area of Agriculture and the production of Soy Milk and other root crops make their way to India and to Asia may be reduced to profits from exchange rate and if the trend continues, accounting for returns on Agriculture which the common citizenry will prefer any day to other things will be quite difficult.
The three tier level of the Federal,
State and Local, can enact Agric Investment and Re-Investment, can throw
additional light on the State to State exchange which must no left to the
monopoly such Aliko Dangote.
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