Theme: self aggrandizement and perfidy
Coffee is a developmental magazine for readers with the thought of it that government and its people should go to the heart of it when it comes to issues in governance that affects the country. It’s a developmental read that brings forth hitherto unknown issues to ponder or in your face issues that we overlook, it hopes to be elementary in its thought carrying every Nigerian along . PLS Enjoy. As an afterthought, I was going through my old write ups and saw this write up on states and GDPs after I had written about states in Nigeria having state owned companies despite the absence of the BPE Bureau for Public Enterprise a little twist to the write up so here: Another take on STATES, BPE AND GDPs. Please enjoy: A states ability to function like its federal counterpart depends on how savy its cabinet is, but first about GDPs in States to my mind I have not seen an economic forecast or understanding of state trades and businesses in Nigerian states this is due to an absence of Federal level important institutions, business also, in Nigerian States, this is a mindset of caste in Nigeria, where the believe is naturally it is better at the Federal level. Justifying the need to feed on money by the governors and members of cabinets. So how do we introduce GDP reads for States?, hence boosting competition for states to be as developed as its federal counterpart. The suggestion is for the usual over 300 billion budget fund for States., that apart from for developmental project divorcing recurrent expenditure to be used to boost private businesses after studying the people (the index) in economics and what potential they have to create hitherto unavailable businesses. To my mind budgets per states should be made public annually for the index to be made availed of what money there is and how they can get a sum or sums of it through business. The kosher and its dealings when there is a budget read a doctoring of figures and the absence of proposed development project has killed states in Nigeria. The norm is to feed on these sums with worship to index in this case (what business they will get involved in that will gift extra sums from budget read). The sad truth is I cant gist about GDPs , human index because there has been few very few index in this case (people) friendly projects in states so to boost human index (the people and their business available to them through budgets) and the GDP (in this case budgets). There is the need for all states to walk the read and allow people, because savy to their need pitch in a contribution here a contribution there in form of businesses. As there is no development when there aren’t institutions with human index satisfaction and absence of self aggrandizement so as to have development.
RAW WEALTH AND MINING BOTTLE NECKS HAMPERING MINING IN NIGERIA
Mining in Nigeria has its roots in the 1978 mining law book, of 18 years after independence when Macpherson coined it. The mining law book. This because of the discovery of apart from oil wealth other mineral wealth all in 1978, prior to that Nigeria was surviving and thriving on Agricultural wealth for export especially Cocoa. But how was the mining law book and how did it augment mineral resource trade in Nigeria. The book to my mind was a one-sided law that favored those receiving mineral wealth from Nigeria and exceptionally benefiting from it as and export, the buoyant west, usually, or any other country that wanted the exports. The long list of Nigerian wealth explains how rich the nation is. But has this mineral wealth augmented development and do we have what the receiving side has, processed wealth that means classic development, or are we still grappling with narrow development, a situation where it is not classic and it doesn’t reflect on the people and their outlook. From 1978 to date mineral wealth has not favoured the country in the sense that there is little regard for other exports except oil. Hence, let me take us to the mining Act of 2007 which tried to solve this, a situation where mining was encouraged and the individuals through the act were made to own mining fields if it so happens and to process them into finished produce that’s the brunt of the mining Act of 2007. This meant government had allowed individuals mine wealth owners, to trade for them. A situation where Governments trade which was raw wealth export was tarnished and individual processed business (trade?) was encouraged. So what are the bottlenecks if individuals given this beautiful herculean and how will it improve the economy and bring development, if these bottle necks are to be known and addressed.First in the break of the mining act subsection 6 that states a need for huge capital by the individual and this through government involvement. The state, that is a huge capital. I believe is just a mindset, and am of the believe raw wealth processing and production just needs a minimalist capital, as it is smart to start small, usually those with mineral wealth have usually rich parcel of lands which is money itself a symbiosis that makes them to have even, ample cash at the ready.Another is the absence of mining expertise, study people don’t go to mineral rich countries to study but cliche rich countries to study a nor no that should be killed, thus after a series of study of mining issues. I think international mining institutes in Africa should be encouraged. The absence of investment and export banks that will encourage individual export is a problem even if we have them the institutional weakness in them makes it impossible for miners to work with them, or you might think I am countering my explain on starting with little, No, when you have a beautiful processed product and people in your country.
RAW WEALTH AND MINING BOTTLE NECKS HAMPERING MINING IN NIGERIA.
and beyond are beginning to like it, it is good to seek investment from export banks which to my mind right now I suggest a Mining Bank or financial bureau on mining expertise and banking. This is where mining: is technology: finished produce are made classic and available to any kind of country. Mining in this case is except petroleum mining – a ready source of cash for Nigeria and source of its wealth, its mining modalities even though sub-standard has yielded mass demand and success as there is ample profit despite it, one is its flyout lie for petroleum processing and the lack of care for some of the products from this product, gas, diesel, ebony air (for vehicle making), engine oil all these are sub-standards gotten from oil that the country doesn’t care to augment its production as it can be needed by other countries in the world and not only in Nigeria. This issue I state above happens because of a lack of care to own a refinery? that runs all these and exports all at the same time unbeknownst to Nigeria. Hence, Nigerians problem as regards mining is a lackadaisical for this core Gold mine process of governance (mining) which comes from a deep seated porous mining law book from the colonialist that is still used by Government, forget about the 2007 mining Act, since it is an act this is telling us the country is not ready to abuse the in anticipation mining law of Macpherson the book of mining law for all.Hence, an advice, that there be a seek to redress mining law from Nigeria that will buttress every mining issue in Nigeria, that will cover every loop hole and bring about processed development and export wealth and a symbiosis with the buoyant west and even the non-buoyant-as they are ready markets that can be tapped. Thus, should the country Nigeria run trade in mining produce for us or should individuals engage in it, with processes and all. Which is the most profitable. I believe government running of trade in mineral wealth with other nation is a hamper to national profit and human development. As it is to my believe that export.
will be to archaic trade partners only, as they were introduced to the country pre-colonization, colonization and after colonization a situation where they engage in trade with those that mindset has allowed them to (colonialist) forgetting that there are the non-buoyant that we can engage in symbiotic trade a mutually beneficial that will work for both sides hence, a suggestion that Nigerians absentia or its lackadaisical in mineral trade? Means they should shirk it to individuals since the buoyant’s (archaic trade partners) make it difficult for countries with raw wealth to trade with them and others, giving difficult trade terms for export. Thus, they should allow individuals hence kudos to the processing clause in the 2007 Mining Act of Nigeria.
WHY STATES SHOULD CREATE INDUSTRIES TO IMPROVE GDP, HUMAN INDEX AND DEVELOPMENT.
I wrote about mining laws and processed produce this should be an extension of explain on it. Most industries created in Nigeria stem from if not from Agric wealth raw wealth. So how can states in Nigeria create state owned industries and what is the hamper, why don’t we have state owned industries, has the BPE Bureau Public Enterprises kill, hampered it, if so how can individuals be encouraged to run industries that will improve the states GDP Gross the Domestic Products, (businesses profits of the people from what the engage in) what does each government of the state do with its over and over 300 billion budget drop every year. That is apart from recurrent expenditures funds. Where we see little or no development. Is the recurrent expenditure worry really killing development in states in Nigeria as they always sing. To my mind microcosms of Nigeria, States, should be allowed to run industries for themselves. An absence of it at the National Level means a buttress that, states that, national level businesses are killed because they don’t reflect in States. And each industry ran as the national level is with a bigmanism that says they will run business with countries outside, not within this brings out the need to hide this wealth’s from Nigerians out of a nationalistic? reason that is actually self-aggrandizement. Industries are not created with the people in mind to enjoy from it.Hence since states have a helm which is the federal government they are answerable to, I think what happens or happened in Abuja will not happen in states as the BPE case was. The simple and strong fact that these industries are from States and are answerable to the federal government is enough to allow them run industries as the state above is a natural check even the fact that the state is a smaller unit with a close watch by its citizens compared to its federal counterpart. So how can they create industries to improve their GDP allowing the federal government to not always baby sit them through ample funding that supposedly affects governance at the centre? As the federal level always cry. The GDP the product (businesses, profits of the people from what they engage in). And the products of the trade a mutually beneficial that will work for both sides hence, a suggestion that Nigerians absentia or its lackadaisical in mineral trade? Means they should shirk it to individuals since the buoyant’s (archaic trade partners) make it difficult for countries with raw wealth to trade with them and others, giving difficult trade terms for export. Thus, they should allow individuals hence kudos to the processing clause in the 2007 Mining Act of Nigeria.
WHY STATES SHOULD CREATE INDUSTRIES TO IMPROVE GDP, HUMAN INDEX AND DEVELOPMENT
I wrote about mining laws and processed produce this should be an extension of explain on it. Most industries created in Nigeria stem from if not from Agric wealth raw wealth. So how can states in Nigeria create state owned industries and what is the hamper, why don’t we have state owned industries, has the BPE Bureau Public Enterprises kill, hampered it, if so how can individuals be encouraged to run industries that will improve the states GDP Gross the Domestic Products, (businesses profits of the people from what the engage in) what does each government of the state do with its over and over 300 billion budget drop every year. That is apart from recurrent expenditures funds. Where we see little or no development. Is the recurrent expenditure worry really killing development in states in Nigeria as they always sing. To my mind microcosms of Nigeria, States, should be allowed to run industries for themselves. An absence of it at the National Level means a buttress that, states that, national level businesses are killed because they don’t reflect in States. And each industry ran as the national level is with a bigmanism that says they will run business with countries outside, not within this brings out the need to hide this wealth’s from Nigerians out of a nationalistic? reason that is actually self-aggrandizement. Industries are not created with the people in mind to enjoy from it.Hence since states have a helm which is the federal government they are answerable to, I think what happens or happened in Abuja will not happen in states as the BPE case was. The simple and strong fact that these industries are from States and are answerable to the federal government is enough to allow them run industries as the state above is a natural check even the fact that the state is a smaller unit with a close watch by its citizens compared to its federal counterpart. So how can they create industries to improve their GDP allowing the federal government to not always baby sit them through ample funding that supposedly affects governance at the centre? As the federal level always cry. The GDP the product (businesses, profits of the people from what they engage in). And the products of the people, if not industries of the government are always strictly theirs, so what kind of business do people in states engage in? it is a similitude with limits to the kind of business they will engage in because her state government is not involved and the only time individuals make a hit on state government to the extent of it positively affecting their GDP is when it involves its capital, hence individuals involving in business that are almost always the same all through with no new introduction means the GDP level will be flat the same all through states. As you provide for needs immediate and within a state with no platform to even take it out of your comfort zone (your state) the only time business is a hit is when it ventures out to other states and or specifically Abuja. Even when one wants to make it international there is no platform for government of the state to do that for you. Then why not allow states run business.
WHY STATES SHOULD CREATE INDUSTRIES TO IMPROVE GDP, HUMAN INDEX AND DEVELOPMENT.
as this will trickle down to individuals allowing for border breakout trade. Thus, to my mind states can improve GDPs, improve human index provide and bring development if she is allowed to run like her federal counterpart- bureaus and parastatals and all. For utmost development. The absence of these happens when nature of leaders are autocratic and despotic also self-aggrandizing and when there is a laziness to run institutions. The over and over 300 billion malaise-it will never be right ,if states when there are these bottlenecks above for government of states to not be self-aggrandizing because their wings as regards there development is clipped as there is a restriction or limit to what they can do as it is not always at par with the federal government, that doesn’t justify their self-aggrandizing though, how will one (state), run good road network, electrification and etc. when it is provided budget funds surplus inclusive to run recurrent and sundry when it knows it doesn’t have the right parastatals and bureau that is what obtains at the federal is not present in the state. Usually, development happens in areas where there is a strong need to make money, that is run businesses. Please let’s not sound like a cliché record and ask for development when we can’t sustain it with individuals or government need to make it stay through sustainable innovative, think tank pragmatic means.Hence BPE kill at the federal has affected the state as states are extensions of the federal but sadly as said they do not share same bureau or parastatals or even ministries and the effect has not been glaringly felt.
THE IMPORTANCE OF A THINK TANK CABINET IN NIGERIA
A cabinet well thought of, before the commencement of government is important in every nation and its states. One doesn’t just up and choose political cronies for a cabinet just because they are the money bags and think development will happen. It is important to have brilliant administrators, economist, political technocrats and also professionals based on the list of ministries and parastatals in a country. In this contemporary era 1999 at the commencement of the 4th republic the republic’s executives its ministers and others were picked at a random mostly political servants that had served the president well to the extent that it allowed him a win in the election and this meant these were the kinds that were going to be brought into the government cabinet. This has played out till now from 1999-2023 and has affected contemporary governance in Nigeria and thus development. The lack of a think tank cabinet has meant a lack of strong institutions with policies and objectives of each in the country not met. And a dilly dallying with work that has meant a lack of buttressing of what people are told on air about these institutions or its governance or administration style, and its aims and achievements as what is said on air is different from what is really happening in ministries parastatals and bureaus. This happens when there are self-aggrandizers not think tankers real think tankers are never self aggrandizing. This is one of the degenerate reasons for institutional weakness in any kind of government even when the people think the choice of president is okey its cabinet if not brilliant annuls the thought of government. So it is right to note that when as president seeking to be elected even if he’s erudite his in deep character reflects through his cabinets so what has caused this political malaise since the commencement of the fourth republic. Poor nationalistic values, self-aggrandizement, old soldiers ruling style never dying. It will be noted that the first 4th republic president was still suffering from his old soldiers syndrome-a lack of care for its people, because of the thought or a think that states he is used to combat governance and is working with a political style new to him so his old governance style was what he was used to, a situation where soldier ruling, will be soldiers administering whether they were administrators or not and their choice of administrators, ministers etc whether professionals or not were his choice not the people and this didn’t bother them as they wanted what they want-to rule through the sword, in this case, the sword been force and the gun (signifying the military), that they were used to and not a political ideology buttressed through a manifesto promise. A think tank cabinet means less bureaucracy and a seeing to it that work proposed for is really worked at and completed and budget proposals are seen to, to the latter, because the individuals on it are good at it. A think tank are a group of people very good at what they do beyond the usual working for a particular cause, or a government. Without it in every administration, country is a misran. Think tanks run when there are work of administration policies and other technocratic ordinances that needs to be seen to for
best results, this is when they are needed. In Nigeria’s case because of its corrupt nature and need to have heightened development by its people it is important to have them at its executive level, in parastatals, ministries, bureau and State governments.
Think tanks kill political brouhaha after the election season. But in Nigerians case, the President in elect wants the political season to be forever till he is out of office. Party politics are supposed to be killed once a president is on the hot seat. As every one individual in the country becomes his responsibility, I think a think tank for administration and governance makes them privy to this, but sorry a think tank is absent in Nigeria. To solve this there should be a kosher group of erudite well-respected citizen of the country that are ready to represent the people who should sit down and choose these think tank group and not the president and his cohorts.
INSTITUTIONAL WEAKNESS AN IMPEDIMENT TO ADMINISTRATION AND DEVELOPMENT IN NIGERIA.
More often than not brilliant policies are not implemented for progress, development of Nigeria, are most times due to legal and institutional weakness a situation where ready-made laws objectives and policies of ministries, parastatals and bureaus are hardly followed through because of the kind of person or persons at the helm of the affairs. As these policies and objectives only work on print even though well thought of and worked at by low cadre staff and also sometimes high. To solve this there is as said a need to understand that there is a need of a think tank – a set of professionals a group of highly skilled individuals willing to work better than usual to achieve policies of an administration unit, ministry, parastatals and/or a bureau also a government. As stated in the earlier article. Let me write about an institution where institutional weakness has killed it to give an understanding (general). The petroleum corporation (NNPC). The NNPC a profit bond of the nation, it will be right to understand that institutional weakness has hampered its huge potential, as today this day I state NNPC is a misran as we can see it in the price of its product, which has risen high reason being as complained and explained- the inability to refine oil (they say) in the country and sundry issues that need simple solving as regards this raw wealth. The first institutional weakness in the NNPC is its corrupt gift of huge oil refinery wells to individual at its commencement as a scarce rich commodity and governments source of buoyant income it will be improper for government to gift to individuals this. This happened in government from 1978 to 1981. I call this perfidy (a real institutional weakness in Nigeria) an institutional weakness I term the self-aggrandizing need to not delay gratitude. That was the first institutional weakness, bad personal trait, petroleum and the masses is an issue that has fallen on deaf ears as the lack of reduction (subsidy) on the product and its sister kinds – by products. Has killed patriotism and the love of country (nationalism) and a love of its government as people are skeptical about these governments and their lack of refinery units story as we sense individuals at the helm of affairs are making mad money from the lack of subsidy and people don’t believe that the absence of refineries is what is the cause because to my mind what will affect subsidy positively is not the lie that has a kosher cult following that narrows every Nigerians perspective-that oil is sent out to refine and brought in as Nigeria has oil resource at sea that it sits to refine there using a special oil rig created and brought in at one time by the Vaswan brother a help that boomeranged on him , because of the explain by him , that it can be used on land and that there was oil on land in Nigeria a publicity that fell him as they in the helm of affairs didn’t want Nigerians to know there was oil on land and refining was not done outside the Nigerian shores. This fell Vaswan aka Abdulhamid Mohammed Yusuf a Bahranian of the Gulf shores it wasn’t brothers as is the claim -engaged in white collar thievery, it was one individual on a mission for Nigeria to solve the lack of subsidy malaise affecting even the gulf shores material meant.
Nigeria has strong international oil strength unbeknownst to us its people. Hence, why. The rise in petroleum price which has affected price of goods, an institutional weakness – personal trait self-aggrandizement. Why again this unpatriotic gimmick or conspiracy theory. International thievery. It is important to understand that institutions are for people and that people play a vital role in governance and the love and respect for them should be part of governance, and it should not come with the institutional weakness mantra that is the need by individuals in governments or players in government to covet. So all these conspiracy theories – the dis subsidy, the out country refining complain, the transportation brouhaha, happen where the-legalities of the petroleum ministry are not adhered to and the institution is weak because of the kind of individuals there (The corrupt). For ministries and parastatals we notice a lack of completion of policies, bureaucracy and human weakness (perfidy). So how do we solve these as suggested to have erudite think tankers that are willing and ready to walk or work the talk. By knowing and understanding all bureau of governments objectives, policies and aim and to follow it step by step to the latter, for development and best results.
THE BPE PROS AND CONS OF ITS CLOSURE OVER A DECADE AFTER.
The Bureau for Public Enterprises a Bureau where Government enterprises, ventures and industries are ran is a bureau that was closed in 2004 for no other reason than the fact that proceeds from the bureau were coveted by private individuals. But why weren’t every necessary modalities put in place for its smooth operation, the bad breeds in the Bureau been checked out and honest and efficient staff replace them. To not do this is to understand at the time of its closure there was a heaving sigh of relief for not want of a Bureau corrupt. Bureau for public enterprise was created to run trades and business for government and to see that revenue accrued from these are used diligently for other developmental projects as these are what revenues are meant for. But an absence of ample revenue meant its closure. So over ten 10 decades after what are the Pros and Cons of its closure. The absence of it, means a chosen few have no access to government revenue through this enterprise. It has allowed private individuals to run similar kinds of business and thrive, this encourages capitalist democracy where individuals are allowed into business to be the country’s trade pieces too if allowed, it has encouraged private industrialization and improved economy since these enterprises were privatized. Also it has made citizens privy of the extent of aggrandizement of some at the helm of affairs of this enterprise. It has allowed the country know the importance of revenue in its governance, without a lack of cry as to what was at stake and reason for privatizing industries and enterprises in the BPE people will not be savy of the importance of revenue in governance I repeat. Some of these business are well ran by people or private industries and are making profit providing real profitable employment . The cons are over decades after people are now curious about the BPE, as they become more politically correct and there is a tacit wish that it be brought back despite private ownership. Government financing nature and its revenue base has made it necessary to have another form of revenue and the absence of BPE has made it glaringly clear that individual industrialist in Nigeria do not like to sink in real fund for heavy enterprising as they had rather they come down to the level of entrepreneurs hence the lack of the BPE has meant individuals involve in skewed trade same kind everywhere in Nigeria with the fear of starting something different that can break borders or give us a different need even something different from the buoyant west if private industries want to carve a niche and it will be good if the BPE was there to run it on behalf of individuals one of such enterprise is the mining industries where we have the act 2007 that allows processed production of raw wealth those with the technical know-how for processing machines (mechanicals) are needed and this can’t happen with little capital hence if we had the BPE it will be good to state that the BPE if present can run high capital enterprise for its people as governance is of the people and for the people because it is by the people a choice they make , that will work for them and not only to make revenue which doesn’t trickle to the last individual but despite this I suggest a BPE as people become more politically correct they will question the misrunning. The absence of investment banks who even though are skeptics when it comes to high fund-money can be created if not through direct dolling by the BPE investment banks. The absence of a selected choice of enterprise, ones that are not difficult for individuals to start was not supposed to be started by the BPE as explained hitherto, rather hitherto unknown enterprises that will allow for trade with nations because of its expert ability in it-if it calls in the right ones to work for it. Thus we have too many professionals with little capital so why not restart a BPE to provide employment rather than the west exploiting them a good example is the car making Zailani whose expertise in the car making venture can be explored by the BPE for optimum technological development and high revenue from it an assist for citizens to curb an high inability to own vehicle due to its high price? Apart from these above its absence has meant you don’t get services or products of the enterprise at lower rates compared to private industrialist. So with the review of mining act and individuals travelling out to source for high fund to run business at home and out and out rates of some services and too high it will be right to say the re-opening of the BPE will be a welcome development that apart from revenue creation it can be an assist to the populace and individual business men, which is the utmost mission of every public enterprise. A little counter to previous discourse on open borders, lets find a balance together.
SHOULD NIGERIA CANCEL THE FORETHOUGHT THAT IS ITS CONSTITUTIONAL LAWS AND WORK WITH ITS ERUDITE LEGAL SYSTEM
The constitution is a part of the legal system adjudged to make legal matters expedient. Constitutions have a broad run affecting facets of government and administration and life in Nigeria the ease of legal issues, laws in governance, acts, etc stems from Nigeria’s unbeknownst erudite legal system. The appeal court, the high court, the judiciary and the supreme courts. With all these listed do we still need a constitution with its cumbersome one sided lack of ease in use, one sided in the sense that not all enjoy using it when it is necessary as we have the above listed legal systems that allows you onery to think for yourself while adjudging matters legal, and importantly a broad base legal education, “ the not all” I state been the oneries and those that enjoy using it, belonging to a particular age strata the 1978 law graduates who mostly sat to work on the constitution if not all them, they rubbed on the rest of the classes closer to them. In 1978 Nigeria indulged the west in a foreign cunning with its 1978 tax laws which led to the 78 constitution Nigerians gave out brilliant tax law-legitimate and not covetous. And the 1978 tax law saw a mass entry into the country to find out why it had a billion-naira revenue despite its nature black and no panache. The expertise exhibited in the tax office its administration, style and tax laws was a surprise leading to a cunning-foreign that was a constitution law. Because the tax law work was a surprise to them that fell them down and they wanted a replication of same laws in their country, but there was no humility to it hence there was a call by Richardson the constitution man of 1958 to re-govern and suggest another law to deviate Nigeria from working at other laws for its country Nigeria’s legal system High courts, Appeal courts, Judiciary, Supreme courts are erudite compared to others but that doesn’t justify the corruption there by some. I talk about the expertise and professionalism that rears its head up when really necessary a potential to be tapped that can nip in the corrupt there.. As a result, Nigerians should notice and know the breed that rears up where there is a need to solve with law, as people play a vital role in governance as we notice we should try to pitch public complains about corrupt ones and choose good ones, once there are legal issues that need attention in the country to get best verdicts. Do you know that the Britons as part of the foreign cunning have our constitution to the T but don’t use it to govern and here legal men and parliamentarians harp on it killing legal brainstorming on issues contemporary and even old. I believe an off with the constitution is ideal for a sane sensible country again I believe our acts, laws, enactments even bureau legal framework and even objectives etc will give us a well governed country again, and our legal system already admirable will give a lawful country also. Constitutions breeds a too many laws that makes government and people unaware of the intricacies in governance because of its bulky cumbersome nature that doesn’t allow for know it all and use, which was what it was meant to do, to take you away from original and hearty legals and governance. About parliamentarians I suggest when there is a need to solve issues to first understand the nature of the bureau in question and their objectives and laws. As we now understand constitution laws waxed by parliamentarians is because of an absence of real law heads to allow us premise to use laws of institutions or bureau it is dealing with. And I think the work with an understanding of an issue in governance before a say, a verdict or a pitch is better than a forethought legal system (constitution) that a country works with this is because as science are to theories so is art in this case law are to people-because people, governance etc are dynamic and the forethought in governance in this case the constitution not legal berth comes before a legal rule encourages poor governance, self-aggrandizement and sundry ill issues.
THE ABSENCE OF LOCAL BUREAU OF CHANGE AND HOW IT WILL IMPROVE THE ECONOMY
Local bureau de change replacing formal sector kinds mean there is a black market for foreign currency that doesn’t go into formal commercial banks. The reason for that are to not allow commercial banks have international trading and financing strength a situation where they go international with their trade kind and business kind a restriction that doesn’t allow for foreign trading as said as once you have foreign currencies in a bank this means a country has something to do with the country the currency is in hence there will be a natural need to communicate or have something to do with countries with this currency this is natural. Thus, a hinderance came from government – central banks who wanted to check commercial banks since it were private individuals with them. Thus, the advent of local bureau de change in 1968 because of the first and only bank, the Barclays, they might want to tell you the advent was because of an absence of banks (only Barclays) at that time, but what of now why won’t contemporary tenets work against them a situation where they are stopped from operating. This will allow the issue of legal tender (dollar) to be the currency for business trade to die and the naira to be the currency it does business. It is important to note that international banking because of bureau de change in banks will allow a countries currency be the legal tender. As it won’t be the norm to use the usual legal tenders pounds, yen, deutschmark and dollar this because contemporary banking has professionals who have intelligence for brilliant terms of business that will favor it currency intelligence for brilliant terms of business that will allow it terms that will favour its currency. At one time at the Attiwajarafa bank aka Taj bank in Morocco there was a business partnership and the ultimatum for it by the North African bank was to allow, for partnership, with her European counterpart Berlin Strauss of Switzerland the term was to of allow it use the Moroccan currency as the currency of the trade, and not the dollar franc of Switzerland. Berlin Strauss obliged and the business deal was a hit on both sides, this because of a confidence because of a trading in her currency as the terms of the business was too good to let go. The use of a particular legal tender for international business is a conspiracy aimed at favouring the buoyant west. And if banks with enough foreign currency in their hands are allowed business with the country in question banking in Nigeria will also be international banking. And gradually Nigeria’s currency can be the legal tender when trading outshore even for bankers , industrialist and the country. So to my mind local bureau de change non operating will check that unexplained worship for foreign currency and black market hits where there is always hike in the exchange rate at their end. For foreign reserve – a white collar thievery. So why do we have a hike in the exchange rates to the extent it affect the economy a lie that is the FDI. The Foreign Direct Investment a money (fund) kept for international business and trading by a country usually developing countries in anticipation of business with the buoyant west. One of the first thing to do is to kill legal tenders (foreign) is to quit a drop of FDI and allow for symbiotic relations with countries with similar trade issues and needs the non-buoyants they can be the G19 or the developing. This can only happen when mindsets as regards trade (for countries) and business (for people) with high value foreign countries is allowed to die and the first thing to do is to kill colony mentality by resisting and refusing the FDI and go for a search of non-archaic trade partners (those we are used to her trading style and demands-no matter how unfavourable), if the drop of cash (brought) in, a converted foreign currency, in huge amount is killed, the uniqueness of the dollar, pounds etc in Nigeria will die and banks are allowed formal international trade or business every naira note will count. This is simple if they-the buoyant west have a market with us they can’t resist. It is okey to give terms of trade, service or business because of what you have on the table – unique to be the use of the naira in every facet of foreign business, trade or service. No difficulty in these, our mindset as regards trade (international) is what needs to be annihilated and our confidence to be shored up, because of the beauty of what we have either our raw wealth, kind of business deal and its terms when it comes to individuals and our services when despite this it is still difficult remember to shun luxury and to look home ward. There is beauty there as Nigeria is an ostentation state – a real problem for us. Hence local bureaus de change needs to be stopped as they contribute to our lack of development celebrating western prowess? Where they shirk their economic woes to us through an FDI. Allow commercial banks to run bureau de change to kill the self-aggrandizing need of bad illiterate Nigerian business men. This because they – commercial bankers are business men that if allowed to go international will fight the war for us as regards foreign legal tender as seen with the Attiwajarafa.
THE POSITIVES AND IMPORTANCE OF HAVING RECURRENT EXPENDITURES AND BUDGET SURPLUS IN COMMERCIAL BANKS AND NOT THE CENTRAL BANK OF NIGERIA
Unbeknownst recurrent expenditures (usable exhaustables) and surplus budget should be kept in commercial banks, to augment real development, which is the one that will go down to even the last individual if these two are kept in commercial banks. Human development is the most important sphere of development hence the need for Recurrent expenditures and budget surplus, to allow people access to ample money, for business. If R.Es and surplus are allowed there will be a natural check on commercial banks. Having money worth billions in every commercial bank in Nigeria that are recyclable-profits (recurrent expenditure) means every Nigerian has access to money which he can get when he wants to run business as I believe banks won’t just sit on the money without running business with it, hence the RE and surplus drop. These can come in as partnerships with individuals where salary owners can choose to use what they earn and run business with and non can propose partnerships with banks if they have business ideas. This huge sums in banks means people have ready access to money and thus business and even, trade on behalf of the country. The importance of banks having ample money is to run business with investors and co industrialist as said, even entrepreneurs. Industrialist and bankers often run businesses when there is money and therefore leading to international business or venture even into another country this allows for a non-skewed customer base and economy (since may be not only in Nigeria). It is important to note that human development through business happens when there are ample consumers so what happen when you have exhausted consumers in Nigeria, the next is to want to go beyond shores, other countries, either nearby or across a situation where industrial ambition takes you across. Enough money does that when there is enough money and the right population and business ample money will never yield inflation with these stated. So it is important to note that real development is not skewed-attuned to a particular kind of business and people which is the situation in Nigeria. For real development human and otherwise there is the need to break borders as ample money does that a different new product in Malawi, a new service render style in Congo, a new brick laying machine in Nigerian and etc etc etc. With R.Es and budget surplus-ample money, at hand it will be right to note that these described further up above can be achieved. So what happens when there is a border breakout one is social development, different kinds of people with different business products and ideas will troop in, more monies at the bank too. This is when individuals can run trades for its country because of the strength of his or her pocket and I tell you this is not bad as bottle necks and terms of trade will be lenient unlike when a country runs trade by itself. Trust the industrialist and bankers you provided the money which is a natural check. Thus, these banks I suggest while running usual banking should be made investment banks first.
The fact that a countries budget surplus are in banks means trade and business opportunities with the AFDB (African development bank) is also possible if each country in Africa will have its budget surplus there this is where you have international trading and business by bankers and people in your country for your country. and this a natural seamless unity and thus global economic unity.
