NewStats: 3,259,434 , 8,170,085 topics. Date: Saturday, 24 May 2025 at 11:43 PM 2u2x5w

YoshiMaster:


Not just informal per say, but the SMEs and Private Sector in general.

Drive into Lekki Phase 1, you’d see how the place has changed for the better over the years.

Evercare Hospital, KFC, 24/7 pharmacies…

Give it up to some dogged Nigerians and Expats in creating and sustaining growth in the society.

Right next to those nice places though, you will see Open gutter on some streets in that same Lekki Phase 1.

Government can’t even close gutters, turning them to sidewalks, but I’m sure they will over tax those companies.

..if the federal government had created a conducive environment for bussinesses companies industries informal sector to thrive..the economy of Nigeria would had been good and better and there would had been lot of jobs for the youths and nigerians and also boost the economy and country..but the federal government does not create a conducive environment for informal sector to thrive they make this informal sector to struggle to survive the hard economy...all this foreign advanced developed countries abroad it's the informal sector that makes the economy and country to be good and better because the government there provide a conducive environment for the informal sector to thrive

Efewestern:


I've come to the conclusion that the Nigerian people and her government do not want the country to progress.

The whole black continent is a mess because we have been doing one thing over and over again. Under our nose, European/Asian refineries captured our west African markets when we have oil producing Nigeria. We could have cornered the whole region with our refined products and this would have created thousands of jobs.

But well, we have zero thinking people occupying government seat that prefer the easy way out of everything while they loot.

So my friend you think that with these policies that local production will be guaranteed abi? Bros stop living in delusion, Venezuela's case is not in anyway similar to Nigeria's case.

Efewestern:


Hey, don't involve me your political bants.

I've always been consistent industrializing as that's is our only ticket out of poverty. Sadly, no government have shown any sign of pulling us out of this mess.

Then why are you making excuses for this government.

Believeintruth:


So my friend you think that with these policies that local production will be guaranteed abi? Bros stop living in delusion, Venezuela's case is not in anyway similar to Nigeria's case.

*Venezuela case is not different from Nigeria. Both are oil producing countries. Both failed to achieve anything aside drilling crude oil. Venezuela is only facing it worse because of the sanctions. Nigeria isn't facing any sanctions but the economy is in crumble.

*My OP was aimed at someone who wants us to believe that we can develop and defeat poverty while we basically import anything. Until we create value, there is practically no way out for us.

Believeintruth:


Then why are you making excuses for this government.

How am I making excuses for anybody? I've always been anti-importation, especially when it comes to things that can be made and sourced locally.

Because there's always an easy way out is why we killed our steel industry. Killed our textile industry. Killed our agro growth in the 80's. The Nigerian people and her leaders don't have the discipline to fix things and take the pain to see we offer values to the real world. We just want to sell crude oil... Loot... And buy everything cheap.

Again, tell me one nation that has progressed with the kind of template we currently operate in Nigeria. Just tell me one.

Efewestern:


*Venezuela case is not different from Nigeria. Both are oil producing countries. Both failed to achieve anything aside drilling crude oil. Venezuela is only facing it worse because of the sanctions. Nigeria isn't facing any sanctions but the economy is in crumble.

*My OP was aimed at someone who wants us to believe that we can develop and defeat poverty while we basically import anything. Until we create value, there is practically no way out for us.

You are missing the point my friend. We cannot be an export or producing country overnight. certain structures have to be in place. certain policies have to encourage it. Right now the Nigerian government of the day doesn't have what it takes policy wise to encourage production.

Excuses upon excuses. The Bulaba lord told us he had solutions to our problems not excuses. He wasn't voted in to give excuses but results.

Believeintruth:


You are missing the point my friend. We cannot be an export or producing country overnight. certain structures have to be in place. certain policies have to encourage it. Right now the Nigerian government of the day doesn't have what it takes policy wise to encourage production.

No, the Nigerian government and the people manning the seat of leadership are failures and lack the thinking brain to see we overcome poverty.

We were once producing. infact, we were on the path to become Africa's industrial giant. That was in the 70's through 80's. But guess what? We had Nigerians who looted and said, oh, we can import steel, why do we still need to keep Aladja steel company running? That's how we closed all our steel production plants while we heavily imported from Asians. This is despite us having enough Iron Ore to meet our local demands.

What other race do this to themselves? That same mentality was applied in every other Industry and today, we have nothing.

If not for Dangote who began Cement production. We were importing cement.

Please, what's this guy doing to at least make life more affordable for Nigerians? We only hear of dollar matters.... What about bring down hyper and galloping inflation?

This makes it more apparent that these guys did not think well before they implemeted their policies.

Efewestern:


Economies work by solely depending on importation? Tell just one country that excels by importing just everything. Just tell me one.

This was the same mistake Venezuela made that contributed to the crash of the economy. They sold crude just like us and imported just everything, like we are doing. From food to drugs, to tech, to wears and textiles. Everything was imported... Because we have people like you who say, oh well, let's import everything because we don't have to brains to build and grow an economy organically.

Even before the US sanctions on Venezuela, the economy was already crumbling. There's no magic out of this mess. Either we become productive or we crumble as a race.

Life isn't for the weak and if we as blacks can't take the painstaking journey towards industrialization. Then we will continue to deal with poverty.

God bless you. Succinctly and factually accurate. Yet only those who have taken time to study the problems of Nigeria will understand.

Whereas the rest will continue to believe, out of sheer ignorance, that one man can make Nigeria Singapore overnight.

We have an undiversified economy largely depending on the sale of crude.

Our manufacturing sector is so poor, despite Nigeria being blessed with so much raw materials, that we will run a trade deficit, I.e importing more than we export, for a long time as things stand which is detrimental to our economic growth.

Meaning our Naira will remain weak and suffering poor demand if we do not become economically more productive as you surmised.

In simple , the strength of most economies of the world is derived from their ability to produce goods and services others want.

We are failing woefully in this crucial area yet expecting national economic vibrancy.

There are so many problems, due to how they have remain unresolved for many decades, that are now big monsters for us that will need considerable time and dedication to tame and ultimately defeat.

Poor understanding of the major problems of Nigeria is the issue.

JASONjnr:
We should stop giving excuses over voting incompetent leaders.

We've had good economy overtime even while depending on import goods for the country.

Tinubu is very ignorant of his economic policies and I don't hink he's consulting anyone. He's just dishing the stupid policies out and inflicting suffering from all angles.

No country can depend on imports if it only has one export earning(CrudeOil);

Nigeria was doomed to economic collapse due to increased debt profile and imports.

Imports only work if a country imports products that can be integrated into productive industries for export. Vietnam imports semiconductors to produce computers and refrigerators for export.

Edun is right import and the unproductive informal economy indicate that there is no prospect of economic growth

Tolu2024:
When PO was shouting from consumption to production illiterate people called him a fool .

Shouting is different from doing!

PO's entire business empire is based on importing; he even worked for the Abacha's Apapa task force to clear the port for more imports.

Shut up sir.

When he said taking Nigeria from consumption to production Una say na lie.

JASONjnr:
We should stop giving excuses over voting incompetent leaders.

We've had good economy overtime even while depending on import goods for the country.

Tinubu is very ignorant of his economic policies and I don't hink he's consulting anyone. He's just dishing the stupid policies out and inflicting suffering from all angles.

The country was just subsidising imports making other countries richer at the detriment of local alternatives.

Is that what you call good economy?

CodeTemplarr:
Local production is down yet they expect the people not to seek imports and at same time, submit their dollar and forex to govt to keep Nigeria as one.
Food. Clothes, Pharmaceuticals. Machines. Name it. Local production has suffered under this govt.

Nigeria imports all the basic raw materials it needs to produce stuff. Imagine being the largest cassava producer in the world, yet the country is importing glucose and cassava starch.

Nigeria has over 1 million refinery capacity and still imports refined products. The country is fixated on imports due to the country's dependency on crude oil exports.

All the ppl that ruled naija till date,designed naija system for their personal aggrandizement from 1967 till date.

WHO ARE THE OWNERS OF OIL WELLS IN NAIJA? WHO ARE OWNERS OF COYS MARKETING PETROL,EXRULERS,RULERS,THEIR STOOGE,THEIR proxies,their ALLIES,THEIR FAMILY DYNESTY the are evil hardened.

THEY DIVERT ALL ATTENTIONS OF NAIJA PPL TO TRIBALISM AND RELIGION to keep fleecing them till the resources finish.

TO BREAK FREE,YOU MUST SEE EXGOVT ppl AND GOVT PPL AS YOUR ARBETROS AND NOT PATRIOTS SO YOU CAN REGAIN YOUR SANITY TO SOLVE THE PROBLEMS of the Nation from within your own domain

AFONJAmiracle:


Learn how economies work oga

I have never read Abt how importing goods into a country has ever risen inflation in a country, I stand to be corrected. Instead, excessive exportation tends to affect cost of commodities as a result of commodities being scares for few monies to chase it. Economic indices affecting inflation are largely currency devaluetion, restrictions on imported goods, and other deficiencies on factors of production. Our economic team needs to be questioned

helinues:
Abi

Imagine wasting our FX to import embalmed fish and chicken

mugu
Nothing de your head other than to defend these set of idiots

America economy is an import dependent economy

And still it doing well

No vote right
De vote based on tribe and religion
Okponu oshi 😒

This freaking man Edun talks a lot of freaking gibberish. Nigeria being 70% dependent on imports has been a known fact for over 10 years now and this is a problem that needs fixing. When an istration started by devaluing the local currency then pegged the country's importation value against the Dollar. That policy was just insane. Devaluation was 40% and the inflation currently stands at 36% which is a direct correlation. You don't need a PhD to understand that logic. I still don't understand the reasoning behind the devaluation.

🤔

Molineoux:
Our leaders are evil clueless and confused SMH