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  #501 (permalink)  
Old 5th December 2012, 05:35 PM
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Default Re: Food for Thought

I dey go, bible study for church. We go discuss later.
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  #502 (permalink)  
Old 5th December 2012, 05:35 PM
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Default Re: Food for Thought

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Originally Posted by emmanuel ewumi View Post
It must be produced from our economy, what is the value of our economy. Will the money be made from thin air?
The world is evolving rapidly. New breakthroughs are happening everyday. Wealth generation is at a phase that has never be seen in the history of the world. Things that were hitherto thought to be impossible are now done everyday by you and I.

The value of text messaging globally is in the billions of dollars, an intangible asset for someone (one single person). 100 trillion dollars doesn't have to be raw cash or tangible assets. You have too much knowledge to confine your mind into a box.

Nothing is impossible.
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  #503 (permalink)  
Old 5th December 2012, 05:41 PM
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Default Re: Food for Thought

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Originally Posted by emmanuel ewumi View Post
Not in the next 10 years.

Where are we going the get the 100 Trillion dollars GDP from. If we have 1 million people with a networth of 50 billion dollars, then our per capital income should the be in millions of dollars.
When you say something is impossible, you immediately close your mind to it and it becomes impossible.

Things that used to be called miracles are now everyday things. If you and I picked up a box each and talk to each other without shouting from a distance just 300 years ago, we would have been stoned to death for witchcraft. Now we can talk to each other using small boxes across seven seas and seven mountains. Industries used to last hundreds of years, now they are lasting for only a few years before they are overtaken by new ones.

Things are moving rapidly and by Dec 21, 2012, we will enter a new phase in the world (according to the Mayan Calendar) that research has proven to be accurate.
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  #504 (permalink)  
Old 5th December 2012, 05:45 PM
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Default Re: Food for Thought

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Originally Posted by emmanuel ewumi View Post
Quote:
Originally Posted by emmanuel ewumi View Post
Bro, make we forget this billionaire thing and talk better.
'What shall it benefit an man if he gains the whole world but loses his soul? Or what can one give in exchange for his soul"?

One of the best saying i have heard is 'you can not take it with you'!

So lets try to always work hard, play hard, love sincerely, and do good. Leave the rest to God.
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  #505 (permalink)  
Old 5th December 2012, 05:46 PM
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Default Re: Food for Thought

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Originally Posted by knightofdelta View Post
I am talking of individual...
Okay...wake me up when September ends....#singing
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  #506 (permalink)  
Old 5th December 2012, 06:05 PM
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Default Re: Food for Thought

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Originally Posted by wanaj0 View Post
Two things. Firstly, better to use USD to get proper pespective of the amount of money we are talking about.

Secondly, for all the successes of Dangote, seems he ONLY succeeded where there is no competition (government protection/patronage). Everytime he has had to compete (level playing field) he always fail. You can see that with his foray into banking and now food (Flour and Sugar). I foresee same thing happening with regards to Cement.

Depending SOLELY on government protection is not the way to go. This is like killing everyother person for ONE man to survive.
Bra, why you wan spoil the fun for bro Emma na? It seems he is just catching the phenomena. I can not talk bad of Aliko though, after what he did for us shareholders of BCC, (though the likes of Ibeto had to have it )

Few are seizing the government patronage opportunity currently subsisting, and turning into nija monied men. Like what was happening in Russia when communism fell, until Putin tightened the screws.
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  #507 (permalink)  
Old 5th December 2012, 08:34 PM
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Default Re: Food for Thought

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Originally Posted by wanaj0 View Post
Tell me one business that he is involved in that the government did not create a 'monopoly' that he is succesful in.

You dont need any business sense to run a rent seeking economy. What business sense is required to get import license and monopolise importation of commodities?

Yes he sold Dangote Flour. However, check the performance of Dangote Flour and compare with flour Mills and even Honeywell. Watch the performance of Dangote Sugar since BUA started. Be on the lookout for what will happen to his cement business once a level playing field is created.

When you can only succeed when there is no competition THEN there is a problem! Government protecting you and only you alone is not a sign of having business sense.
I totally disagree with you, Nigeria is a virgin land and Nigerians are a lazy bunch it's very easy to be a monopoly in this economy cause there are so many things that aren't being done. Indomie was a monopoly for decades same with Gala, Swan water and so many other products, did they all have government protection? How long was Eleganza a monopoly? Remember Nasco cornflakes? Who was competing with them? Even today there are still monopolies that are mind boggling, did all of them use government protection to stifle growth? The economy is in it's infancy so monopolies would exist and smart business men would use this opportunity to make a killing and obviously when competition comes market share must reduce and performance would be affected but you'll have long made your money. Dangote is not here to help the economy he's there to make money for him self if the economy benefits fine if it doesn't then that's life.
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  #508 (permalink)  
Old 5th December 2012, 08:55 PM
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Default Re: Food for Thought

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Originally Posted by wanaj0 View Post
You dont have to be antagonistic to government. However a situation where you seek for a monopoly is not sustainable. Anytime he has to compete with others he is always having problems. Bank, Sugar, Flour are good examples.

As per FBN, consolidation was about getting 25bn shareholders fund. Those with that amount already dont have to be pressured into raising new funds. FBN like others still got the opportunity to raise funds. This is not like the import license racket where Dangote and co got license to import rice, sugar etc without any competition.
This rice issue is another popular market square rumor that people have taken to be fact, my brother in-law who is not in anyway politically connected was licensed to import rice called "Korrect rice" in mid 90s up until 2001 and they were competing directly with Dangote and co, so I can tell you that all this talk of govt protection on rice is laughable.
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Last edited by nosa2; 5th December 2012 at 09:09 PM.
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  #509 (permalink)  
Old 5th December 2012, 09:00 PM
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Default Re: Food for Thought

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Originally Posted by emmanuel ewumi View Post
These facts are a bit old cause he does currently own a jet.
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  #510 (permalink)  
Old 5th December 2012, 09:07 PM
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Default Re: Food for Thought

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Originally Posted by emmanuel ewumi View Post
It must be produced from our economy, what is the value of our economy. Will the money be made from thin air?
There's no such thing as "our economy" it's a global economy so the opportunities are endless. Imagine what'll happen to UACN if gala suddenly becomes popular in China?
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  #511 (permalink)  
Old 5th December 2012, 10:16 PM
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Default Re: Food for Thought

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Originally Posted by nosa2 View Post
I totally disagree with you, Nigeria is a virgin land and Nigerians are a lazy bunch it's very easy to be a monopoly in this economy cause there are so many things that aren't being done. Indomie was a monopoly for decades same with Gala, Swan water and so many other products, did they all have government protection? How long was Eleganza a monopoly? Remember Nasco cornflakes? Who was competing with them? Even today there are still monopolies that are mind boggling, did all of them use government protection to stifle growth? The economy is in it's infancy so monopolies would exist and smart business men would use this opportunity to make a killing and obviously when competition comes market share must reduce and performance would be affected but you'll have long made your money. Dangote is not here to help the economy he's there to make money for him self if the economy benefits fine if it doesn't then that's life.
I doubt you understood wanaj0's point of view. He wasn't referring to monopoly per se but govt 'sponsored' monopoly or the deliberate use of govt policy to create cartels and exclude competition. With due respect, your post doesn't address this, not even remotely.
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  #512 (permalink)  
Old 6th December 2012, 12:50 AM
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Default Re: Food for Thought

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Originally Posted by horlads View Post
Bros, I tire oh...and the explanation was that JB was the one handling the project...I've decided to stop shouting corruption in this country cos the people who will shout with you are equally as corrupt and when the gbege gas, you will find out that you're d one who's lost on both sides....Money u no thief, ur health go deteriorate on top...
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There's a difference between waste and corruption, the government is wasteful but that's just a reflection of society and is actually indirectly condoned by Nigerians
Quote:
Originally Posted by horlads View Post
For sure...corruption and waste are different but they go hand in hand as corruption leads to wasteful allocation of resources...when I send someone with N45 for a N12 errand....the excess which is wasteful goes to people who are corrupt and will not return my balance...

Abi, no be so...
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Na lie no be so! The presidency probably needs a banquet hall but rather than building a modest one they'll rather take the most extravagant with all the latest gadgets etc, that's wasteful but not stealing. This happens everywhere in government not just Aso rock and it should stop.
Sir Horlads et al, It is always good to be on ground to witness the progress of developmental issues in the country vis-a-vis our discussions here and I must tell people I am not impressed. Call it corruption or wasteful spending, all I can say is that we need to do more!
In my opinion the worst thing that has happened to Nigeria is this Boko Haram menace.

Of course there were some positive developments I witnessed majorly in Abuja.
After a long sojourn outside Naija, I decided to take a vacation ride around Nigeria like an Investment biker (since Sir KOD and Wanaan$$$ could not accommodate me in their private jets). The only place excluded was Northern Nigeria.
Traveling with private jets and Arik Air definitely doesn't make some of our leaders and some discussants on SMN to come to terms with the situation in the country!

Let me give some key disheartening points I witnessed:

1. The Third mainland bridge in Lagos was recently renovated. A drive from the oven-baked MMA to Victoria Island was disheartening- No single street light was on!

2. The CCTV installations handled by ZTE in Abuja really looked obsolete and reports have it that they are not even functional.

3. Some of the major roads travelled are death traps (Of course some of the roads are wearing a better look)

4. No noticeable improvement in the Electric power situation (Could see several HT Power Transmission/Distribution towers already erected though which shows that some power projects are still ongoing)

...and many more. Interactions with people -Civil servants, Business moguls, Artisans, etc shows that there is really a disconnect in many areas with what is happening in Abuja and other areas in the country.

I have a feeling that the Coordinating Minister of Economy (CME) will not be able to handle the kind of politicking that will surface soon when the race towards 2015 starts and the 'boys' start the usual jamboree. She is already having it tough with the Oil marketers already. It's a war!
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  #513 (permalink)  
Old 6th December 2012, 01:05 AM
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Default Re: Food for Thought

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Originally Posted by eniyanman View Post
I doubt you understood wanaj0's point of view. He wasn't referring to monopoly per se but govt 'sponsored' monopoly or the deliberate use of govt policy to create cartels and exclude competition. With due respect, your post doesn't address this, not even remotely.
I believe my post on rice importation addresses this adequately if he can give another example of a "government sponsored monopoly" that Dangote enjoys then I can address that, and of I see reason with him I'll gladly agree but if it's another "factual rumor" thenů
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  #514 (permalink)  
Old 6th December 2012, 01:10 AM
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Default Re: Food for Thought

Quote:
Originally Posted by Salida View Post
Sir Horlads et al, It is always good to be on ground to witness the progress of developmental issues in the country vis-a-vis our discussions here and I must tell people I am not impressed. Call it corruption or wasteful spending, all I can say is that we need to do more!
In my opinion the worst thing that has happened to Nigeria is this Boko Haram menace.

Of course there were some positive developments I witnessed majorly in Abuja.
After a long sojourn outside Naija, I decided to take a vacation ride around Nigeria like an Investment biker (since Sir KOD and Wanaan$$$ could not accommodate me in their private jets). The only place excluded was Northern Nigeria.
Traveling with private jets and Arik Air definitely doesn't make some of our leaders and some discussants on SMN to come to terms with the situation in the country!

Let me give some key disheartening points I witnessed:

1. The Third mainland bridge in Lagos was recently renovated. A drive from the oven-baked MMA to Victoria Island was disheartening- No single street light was on!

2. The CCTV installations handled by ZTE in Abuja really looked obsolete and reports have it that they are not even functional.

3. Some of the major roads travelled are death traps (Of course some of the roads are wearing a better look)

4. No noticeable improvement in the Electric power situation (Could see several HT Power Transmission/Distribution towers already erected though which shows that some power projects are still ongoing)

...and many more. Interactions with people -Civil servants, Business moguls, Artisans, etc shows that there is really a disconnect in many areas with what is happening in Abuja and other areas in the country.

I have a feeling that the Coordinating Minister of Economy (CME) will not be able to handle the kind of politicking that will surface soon when the race towards 2015 starts and the 'boys' start the usual jamboree. She is already having it tough with the Oil marketers already. It's a war!
Street light, CCTV and all the goodies of life cost money and when you have 70% of your peanut budget going to salaries and fuel subsidy you have no right to demand for them, opportunity cost is a b*tch but then again we could always ask Santa
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Last edited by nosa2; 6th December 2012 at 01:15 AM.
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  #515 (permalink)  
Old 6th December 2012, 01:24 AM
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Default Re: Food for Thought

Quote:
Originally Posted by nosa2 View Post
Street light, CCTV and all the goodies of life cost money and when you have 70% of your peanut budget going to salaries and fuel subsidy you have no right to demand for them, opportunity cost is a b*tch but then again we could always ask Santa
Street lighting and the CCTV Installations are enhancers for tackling the security challenges in the country and did not just come out of the blues. The CCTV installation was conceived not as a luxury and was not demanded by anyone. It was an initiative to improve the security situation.
So what justifies the project if there are no positive results from such installations? This has nothing to do with peanut budget or asking anything from Santa! The last time I checked the cost of the project, it was running into Billions. So the question to you is that is this Corruption or another Wasteful spending?
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  #516 (permalink)  
Old 6th December 2012, 01:36 AM
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Default Re: Food for Thought

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Originally Posted by Salida View Post
Street lighting and the CCTV Installations are enhancers for tackling the security challenges in the country and did not just come out of the blues. The CCTV installation was conceived not as a luxury and was not demanded by anyone. It was an initiative to improve the security situation.
So what justifies the project if there are no positive results from such installations? This has nothing to do with peanut budget or asking anything from Santa! The last time I checked the cost of the project, it was running into Billions. So the question to you is that is this Corruption or another Wasteful spending?
I don't know a lot about the CCTV contract but let me give a parallel example, the Abuja stadium was built by Julius Berger and they had an annual maintenance contract of about N1b for just that stadium, govt paid for 2 tears maintenance and after that handed over the maintenance to the sports ministry. Now the sports ministry has a budget of N300m to maintain all the stadiums in the country, what do you think would happen to the Abuja stadium?

You mention CCTV as an important security component, which it is, but when faced with a choice of either buying fertilizer or buying vaccines and funding a CCTV program, CCTV hasn't got a chance.
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  #517 (permalink)  
Old 6th December 2012, 07:27 AM
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Default Re: Food for Thought

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Originally Posted by waaan5 View Post
Bro, make we forget this billionaire thing and talk better.
'What shall it benefit an man if he gains the whole world but loses his soul? Or what can one give in exchange for his soul"?

One of the best saying i have heard is 'you can not take it with you'!

So lets try to always work hard, play hard, love sincerely, and do good. Leave the rest to God.
Thank you, our topic for discussion at yesterday's bible study was Heavenly treasure.
Definitely we can not take it with us.
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  #518 (permalink)  
Old 6th December 2012, 07:35 AM
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Default Re: Food for Thought

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Originally Posted by knightofdelta View Post
The world is evolving rapidly. New breakthroughs are happening everyday. Wealth generation is at a phase that has never be seen in the history of the world. Things that were hitherto thought to be impossible are now done everyday by you and I.

The value of text messaging globally is in the billions of dollars, an intangible asset for someone (one single person). 100 trillion dollars doesn't have to be raw cash or tangible assets. You have too much knowledge to confine your mind into a box.

Nothing is impossible.

Yes, I agree nothing is impossible. All the same we can not have 1 million people with a networth of 50 billion dollars in Nigeria.

In case you don't know this is more than 4 times Aliko Dangote's networth. Even in the United States, they currently have a person with a networth of 50 billion dollars. Warren Buffet has a networth of roughly 40 billion dollars.
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Old 6th December 2012, 07:41 AM
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Default Re: Food for Thought

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Originally Posted by nosa2 View Post
There's no such thing as "our economy" it's a global economy so the opportunities are endless. Imagine what'll happen to UACN if gala suddenly becomes popular in China?
Even the global economy does not have 1 million people with a networth of 50 billion dollars.

Do we have the resources, infrastructure and technical know how that will enable our products to do well in the African market talk less of the global market.
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Old 6th December 2012, 09:25 AM
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Default Re: Food for Thought

Got this from facebook


KAYODE OGUNDAMISI WROTE: "What do WORLD RICHEST Nigerians like Folorunsho Alakija , Aliko Dangote and Mike Adenuga have in common? Government PATRONAGE main sou
rce of income.

In the Nigerian MIRACLE a daft hair dresser gets 1 Oil Block and becomes WORLDS RICHEST BLACK WOMAN.

A lunatic retired General like Danjuma gets his own OIL BLOCK & informs the world he does not even know what to do with his money.

Government stifles competition and allocate Aliko Dangote sole right to import rice, cement and supply same to Nigerian Army and he becomes AFRICA'S RICHEST MAN. Hard working Nigerian business men and women, innovators, scientists and even intellectuals who PLAY BY THE RULES are wallowing in PENURY.

The craze is even spreading to younger generation of Nigerians. A smart Nigerian mobilise Nigerians under a very attractive project of LIGHT UP NIGERIA. He gets hundreds of thousands of LIKES on social media converting same to praising those who are responsible for bringing DARKNESS into Nigeria and the LIGHT UP NIGERIA smart dood becomes an overnight million owner.

It is such a jungle in Nigeria that breaking rules is the MAIN road to success and to cap it all Imams Babalawos and Pastors are smiling to the bank as a result of HARVEST THANKSGIVING.

What a HOLE of COUNTRY! "
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