Some crude analysis of Nigeria’s budget and dollar situation
EconomyGovernment is to spend 6trillion Naira. That is Nine hundred and Ninety-Nine billion in six places. Out of which Fashola alone is to spend 1.2 trillion. That is Nine hundred and Ninety-Nine billion Naira plus an additional Two hundred and Sixty Billion Naira in twelve months.
Now after twelve months somebody would come and tell me Fashola is a performer. Ojebi !
Assignment: How would you spend One Billion, Six Hundred Million Naira in a Local Government of your choice?
How the money would come is not really their problem, because the oil companies would just dig oil from the ground and sell. Then give government their share. If the money won’t reach the 6 trillion they plan to spend, they will go to CBN to print the balance or they borrow it.
Shebi all of us is the owner of government, let government start by spending all the entire 6 trillion on Made in Nigeria goods. From furniture to ipad to presidential bed. If we don’t have Made in Nigeria ipad, they should give our university lecturers the money to produce our own Made in Nigeria ipad.
After government does this for 2 years, then we the citizens can then be asked to join government in buying Made in Nigeria, because by then, after spending 12 trillion naira, Made in Nigeria goods would truly be in existence.
- Because the importer that was importing furniture, would have seen the handwriting on the wall. He would not want to miss out on sales to government, hence he too would have set up his furniture factory.
This way, the importer would not sack anybody, rather he would employ more people.
- Nigerians would have seen that truly Made in Nigeria exists and works. Hence when you say buy local, you won’t be speaking Spanish. You won’t even need to tell us before we learn to patronise our own brothers and sisters.
At the end of the day it is not agidi, we operate a Capitalist System and all systems have rules. Capitalism assumes everyone would be Rational with some level of greed, or call it desire.
All the Leader needs to do is to “telly guide” this rational thinking, to achieve the common goal.
Note: This write up is to open up some emotionally closed minds.
This write-up assumes all government spending is mostly capital. Or all government employees are also Made in Nigeria.
Father of Modern MacroEconomics had this to say about the #LongRun.
“In the Long-Run, we are all dead” … John Maynard Keynes.
Me I want to enjoy Nigeria, I want my parents to enjoy Nigeria, as for my children, they would sort themselves.
Everyone is clamoring self-employment and SME. Our young graduates need at a least one laptop to be productive either in paid employment or on their own. The entry level laptop price just moved from 50k to 90k …picture how many youths we have further increased their hurdle of acquiring their 1st laptop.
Yet minimum wage is 18k. Yet NYSC allowance remain under 20k.
#StopWastingOurTime