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  #7821 (permalink)  
Old 27th December 2012, 11:03 AM
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Default Re: Economicwatch

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The China Wave: Rise of a Civilizational State: Weiwei Zhang: 9781938134012: Amazon.com: Books

The J Curve: A New Way to Understand Why Nations Rise and Fall: Ian Bremmer: 9780743274722: Amazon.com: Books


For the New Year, I recommend these two books. The authors present very contrasting views about the kind of situation that a country like Nigeria currently faces. The Chine Wave argues that countries like Nigeria that adopt western economic and politicals models while they are poor end up with a more divided society, increased corruption and declining economy (any Nigerian can identify with these). On the other hand, the J Curve argues that countries that adopt western democracy (openness) always start by experiencing declining fortunes before eventually picking up (thus the sign of the J alphabet).

Whichever view you take, it is worth reading both books objectively. Cognitive Dissonace (the ability to hold to opposing views in your head) is a sign of the superior mind.
China in the Next Eight Years, Articles | THISDAY LIVE
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  #7822 (permalink)  
Old 27th December 2012, 03:54 PM
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Default Re: Economicwatch

Number Portability postponement is an infringement on subscribers' rights - NATCOMS
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  #7823 (permalink)  
Old 27th December 2012, 04:51 PM
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Default Re: Economicwatch

Nigeria's cement production capacity to hit 33.6m tonnes by 2016
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  #7824 (permalink)  
Old 28th December 2012, 03:25 AM
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Default Re: Economicwatch

Telecoms companies lost N75bn to bombings, flooding - ALTON - The Punch - Nigeria's Most Widely Read Newspaper
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  #7825 (permalink)  
Old 28th December 2012, 03:36 AM
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Default Re: Economicwatch

W’Bank: Nigeria, Others Record $4.9trn External Debt, Articles | THISDAY LIVE
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  #7826 (permalink)  
Old 28th December 2012, 03:44 AM
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Default Re: Economicwatch

‘FG Should Create Economic Regulator for Airlines’, Articles | THISDAY LIVE
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  #7827 (permalink)  
Old 28th December 2012, 08:57 AM
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Default Re: Economicwatch

The Narrowing Benefits of the Market, Articles | THISDAY LIVE

Very profound thinking coming from a lawyer. Just wonder why he is no longer I the House of Reps.
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  #7828 (permalink)  
Old 28th December 2012, 09:29 AM
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Default Re: Economicwatch

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Originally Posted by Waves View Post
The Narrowing Benefits of the Market, Articles | THISDAY LIVE

Very profound thinking coming from a lawyer. Just wonder why he is no longer I the House of Reps.
Interesting reading....we had state banks for decades and yet the jobs he envisages that state run banks will create through funding of local businesses never materialized.
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  #7829 (permalink)  
Old 28th December 2012, 10:00 AM
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Default Re: Economicwatch

Quote:
Originally Posted by Waves View Post
The Narrowing Benefits of the Market, Articles | THISDAY LIVE

Very profound thinking coming from a lawyer. Just wonder why he is no longer I the House of Reps.
Not a bad write up but then again, we all keep missing the common denominator for all these failures!
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  #7830 (permalink)  
Old 28th December 2012, 10:02 AM
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Default Re: Economicwatch

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Originally Posted by hispy99 View Post
Interesting reading....we had state banks for decades and yet the jobs he envisages that state run banks will create through funding of local businesses never materialized.
The common denominator why all these lofty policies and programmes keeps failing is well known and documented. For as long as we dont deal with that in the programmes..it will result to the usual outcomes = FAILURES!
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  #7831 (permalink)  
Old 28th December 2012, 10:44 AM
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Default Re: Economicwatch

Quote:
Originally Posted by Waves View Post
The Narrowing Benefits of the Market, Articles | THISDAY LIVE

Very profound thinking coming from a lawyer. Just wonder why he is no longer I the House of Reps.
Quote:
Originally Posted by hispy99 View Post
Interesting reading....we had state banks for decades and yet the jobs he envisages that state run banks will create through funding of local businesses never materialized.
Quote:
Originally Posted by overload View Post
Not a bad write up but then again, we all keep missing the common denominator for all these failures!
What, with all the MFBs and Bank of Industry? No, not state-run banks; I disagree with that in this interesting and well-researched piece.

Effective banking supervision and monitoring of class of loans given by MFBs will tell if we are achieving the objectives for which they were set up. Monitoring of business-development and research; if any, in the MFBs will also make them sit up. CBN research-findings should as a matter of fact be communicated to these small banks located in areas with exportable products. I do not agree with state-run banks simply because we want to spread our economic development away from the Lagos axis. If effective supervision of the MFBs and nationwide re-distribution of the BOI does not achieve this, then state-run banks would not do it.

If an MFB cannot set up and grow a reasonable number of SMEs in a year, then we have to look at who they are giving loans to and why. The BOI too, has to be 'more de-centralized' than it already is. They should stop looking for naturally-existing markets like Aba as targets, and start looking at areas with dead and moribund industries or no industry at all. Or do they not have business development and research departments?

We do not like going by the books(policies) and dislike people who are by the book in Nigeria and so we have decided to write the books 'up-side-down' in order to escape being viewed as lawless.
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  #7832 (permalink)  
Old 28th December 2012, 10:58 AM
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Default Re: Economicwatch

Quote:
Originally Posted by overload View Post
Not a bad write up but then again, we all keep missing the common denominator for all these failures!
Quote:
Originally Posted by hispy99 View Post
Interesting reading....we had state banks for decades and yet the jobs he envisages that state run banks will create through funding of local businesses never materialized.
Quote:
Originally Posted by overload View Post
The common denominator why all these lofty policies and programmes keeps failing is well known and documented. For as long as we dont deal with that in the programmes..it will result to the usual outcomes = FAILURES!
Please what is the common denominator?

The writers suggestion about state owned banks may be problematic, but the unstated problem remains. We have a very serious problem of Capital Formation in Nigeria. Unless this is resolved, we are unlikely to move forward. The sectors of the Nigerian economy that have been growing of recent (Telecoms and Crude Oil production) owe their growth to foreing capital. Either we get that kind of funding to other sectors or find a way of deploying Pension Funds to these sectors.
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  #7833 (permalink)  
Old 28th December 2012, 11:48 AM
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Default Re: Economicwatch

Ibeto Cement: Claims of Cement Glut Misleading, Articles | THISDAY LIVE
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  #7834 (permalink)  
Old 28th December 2012, 11:59 AM
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Default Re: Economicwatch

A glut should have resulted in fall in price that said, Dangote needs to be protected for daring to build those plants in Nigeria otherwise he scrap his plants and join importers.
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  #7835 (permalink)  
Old 28th December 2012, 12:24 PM
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Default Re: Economicwatch

Quote:
Originally Posted by bamidele97 View Post
A glut should have resulted in fall in price that said, Dangote needs to be protected for daring to build those plants in Nigeria otherwise he scrap his plants and join importers.
If Dangote is going to be protected then the Nigerian people too must be protected from exploitation. In essence:

PROTECT DANGOTE = REGULATION OF PRODUCTION QUOTA/PRICES

Is it no longer a free market economy? Why can't his cement be cheaper sef?
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  #7836 (permalink)  
Old 28th December 2012, 12:41 PM
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Default Re: Economicwatch

Quote:
Originally Posted by bamidele97 View Post
A glut should have resulted in fall in price that said, Dangote needs to be protected for daring to build those plants in Nigeria otherwise he scrap his plants and join importers.
Did you just say this?

ok, we should stop car importation and only allow Innoson who has invested so much to set up Assemply plants in Naija.
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  #7837 (permalink)  
Old 28th December 2012, 12:53 PM
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Default Re: Economicwatch

Quote:
Originally Posted by Waves View Post
Please what is the common denominator?

The writers suggestion about state owned banks may be problematic, but the unstated problem remains. We have a very serious problem of Capital Formation in Nigeria. Unless this is resolved, we are unlikely to move forward. The sectors of the Nigerian economy that have been growing of recent (Telecoms and Crude Oil production) owe their growth to foreing capital. Either we get that kind of funding to other sectors or find a way of deploying Pension Funds to these sectors.
Corruption of course!!
Until we also put this in all our economic policy calculations... na waste of time we dey!
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  #7838 (permalink)  
Old 28th December 2012, 04:42 PM
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Default Re: Economicwatch

Quote:
Originally Posted by Waves View Post
Please what is the common denominator?

The writers suggestion about state owned banks may be problematic, but the unstated problem remains. We have a very serious problem of Capital Formation in Nigeria. Unless this is resolved, we are unlikely to move forward. The sectors of the Nigerian economy that have been growing of recent (Telecoms and Crude Oil production) owe their growth to foreing capital. Either we get that kind of funding to other sectors or find a way of deploying Pension Funds to these sectors.
I agree wih overlord, there is no getting away from it, corruption is the common denominator. At the end of the day the economic system is surbordinate to the political and legal systems, so it should come as no surprise that problems in either will make it more dysfunctional.

On the issue of capital formation, the Nigerian Goverment is not the same as the Greek Government, it is a currency issuer. If corruption were not so rife and it was bent on achieving development, it can print as much Naira as it wants to achieve its policy objectives.

Capital Formation in the days of Okonkwo was warring with neighbours and expanding ones land. Money has made that unecessary. And all sovereign states, except those in the EU, have the right to issue their own currency and use it to achieve their aspirations. If there is the will, the government can spend as much naira as it wants into existence. The issue of scarcity will still remain and is the only limiting factor, and manifests itself in inflation. Should the government spend unwisely inflation would come sooner than later, if wisely, later than sooner.
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  #7839 (permalink)  
Old 28th December 2012, 05:23 PM
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Default Re: Economicwatch

Quote:
Originally Posted by dr.abrahamb View Post
If Dangote is going to be protected then the Nigerian people too must be protected from exploitation. In essence:

PROTECT DANGOTE = REGULATION OF PRODUCTION QUOTA/PRICES

Is it no longer a free market economy? Why can't his cement be cheaper sef?
I agree with you that Nigerians must be protected from exploitation but if running a cement plant in a diesel powered economy like ours is easy why have other businessmen in the country not built their own plants despite the fact there is limestone (which is the major raw material for the production) across the length and breadth of Nigeria?
Dangote took the risk of investing in local production of cement with the understanding that government would pave a way for the demand of his product by regulating the quantity of cement coming into the country.
Maybe importers above a certain threshold should be mandated to start producing locally after a certain time.
It remains an intractable situation for now.
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  #7840 (permalink)  
Old 28th December 2012, 05:50 PM
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Default Re: Economicwatch

Quote:
Originally Posted by overload View Post
Did you just say this?

ok, we should stop car importation and only allow Innoson who has invested so much to set up Assemply plants in Naija.
While I'm not a fan of a rabid monopolist like Dangote I think local production should be encouraged as much as possible. I'm sure I need not remind you of how our government patronized PAN for having an assembly line in Nigeria when the regard for national interest thumped the parochial comfort of our officials. The reverse is the case today, BMW, Lexus, Toyota & Benz are for the men!
Now to answer you question, Innoson is just a brand out of many brands of cars out there. Different people like different car makes but in case of cement Ordinary Portland cement is Ordinary Portland cement. The only difference is initial setting time which is largely of no effect on the ultimate strenght.
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Last edited by bamidele97; 28th December 2012 at 06:39 PM.
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