Thanks very much Sir, we need people like you Prof, you are very soud President Tinubu need people like you Sir not political thiefs or haters who will never see anything good about our nation.
Your president borrowed to buy private jet ...his 2024 budget has 25% implementation rate ...is that not what this man is talking about ...and he us saying 1 trillion dollar economy when u r killing the economy now..
Thanks, Prof Ikechukwu, for your brilliant economic development and policy analysis as always. It is for the government to make meaningful use of your suggestions. The desired $1 trillion-dollar economy and GDP growth is feasible, viable, sustainable and achievable, if the right inclusive things are done by the federal government. It should also make deliberate efforts to cut administrative (governance) costs and wastage of public funds while improving non-oil exports as a prerequisite to attaining that dream.
A trillion dollar economy? Why can't we think in terms of Naira? We have the natural and human resources that can put us as the richest country in the world. All we need is visionary and selfless leadership.
We can't use the naira (for now) because the dollar is the most powerful medium of fiat exchange today so using the naira to set a target would leave us trailing behind on global development, especially with a 'weakened' naira. I hope that helps.
@11:15 If Nigeria borrows a trillion dollars, not naira, and uses the loan for things Prof recommended, it's akin to borrowing for local consumption that can't repay the loan. Whenever you borrow in dollars or foreign currencies make sure the money is used to earn commensurate dollars by which the country can easily repay the foreign loan, and not for making our driving experience better, use naira for that.
If there is steady light and the roads are fixed and the economy is in good shapes, Economic activities will increase, including foreign investors, which will generate more revenue to pay back the loan gradually.
You misunderstood his analogy. If the roads are bad without being fixed, it will take more time to cover a given distance, cost more money to maintain road transport vehicles, and pose more security risks as it is easier for bandits to waylay or swarm drivers on slow bumpy roads than on smooth, fast expressways. It is not about pleasurable driving experience on the roads, but the economic costs.
@@ugowilliams8437 economic cost that does not generate dollars only naira. Okay, how should Nigeria generate dollars to pay it's foreign loans? Do better roads generate dollars?
@dubemellit2932 do you know how much the metro train is generating for dubai? I am not saying investment is not good, but even if it's infrastructure they are using the money for , it is alot better compared to what we are getting at the moment.
If your GDP is at 500 B USD then you need about 16% a year growth to get to 1 Trillion in 5 years. If your GDP is at 200 B USD which is the current number then you need over 20% a year in GDP growth. Bottom line its not possible. It is a nice aspiration but its not realistic
Most people think a trillion dollars economy is not possible but the government has a plan in place, once the economy stabilises with a foreign reserve of $70b the naira will be revalued and that will bring up the gdp from e.g from $400b to $800b by the end of 2026. The revaluation of the naira is the key to reduce inflation and increase the GDP
Trillion-dollar economy with no electricity, is that possible? What Nigeria runs currently is a firewood economy and there is no way a firewood economy is reaching a Trillion dollars in this day. It will continue to fall or stagnate and eventually fall.
@@richardobiekwe9437 you should say insufficient electricity, however most companies generate their own electricity hence the high cost of production, most homes also generate own power but with sufficient electricity the economy will be btw 2 or 3trillion. What you should look at is the criteria used in calculating the GDP not playing dismissive politics. Follow the data and not be a pessimist
@kenny7872 Yes, I have followed the criteria, and the main thing in building GDP is the basic amenities the nation lacks, and the number 1 basic amenity is electricity. Nigerians are losing trillions because of poor electricity.
I am sure paul Alaje will never see anything good in this government. See how this professors make simple analysis that everyone can understsnd and see positive coming in the country rarher the likes of paul alaje will akways be negative. I wish tinumbu can hear this professor so he can bring him on board in his economic team
Hope that $1 trillion economy won't be achieved only on paper... no "working to the jomo" ... like the way some high school kids derived maths answers in those days... 🤣🤣
Who is this man that cannot speak techinical english language for economic terms. GDP of Nigeria cannot be more than $250 billion. Anybody working in Nigeria. All goverment workers are on welfare. We have only service economy, buying and selling, collection of rents and the touts and security agencies commiting extortions, frauds and intimidations. That is GDP of Nigeria for you.
You have a point, yes no productivity and $250 billion dollars is over inflated. Secondly, 2 million or 2.5 millio barrels a day will help if properly managed.
Prof Ikechukwu is a very intelligent and powerful orator. Kudo to you Sir.
Prof is sort of personal needed on the economic policy team as the lead.
Thanks very much Sir, we need people like you Prof, you are very soud President Tinubu need people like you Sir not political thiefs or haters who will never see anything good about our nation.
Your president borrowed to buy private jet ...his 2024 budget has 25% implementation rate ...is that not what this man is talking about ...and he us saying 1 trillion dollar economy when u r killing the economy now..
@@JMax7890believe whatever you want to believe
Wisdom with Knowledge
Thanks, Prof Ikechukwu, for your brilliant economic development and policy analysis as always. It is for the government to make meaningful use of your suggestions. The desired $1 trillion-dollar economy and GDP growth is feasible, viable, sustainable and achievable, if the right inclusive things are done by the federal government. It should also make deliberate efforts to cut administrative (governance) costs and wastage of public funds while improving non-oil exports as a prerequisite to attaining that dream.
Thank you Prof. Very well said.
Fantastic analysis by the professor
What did the Nigeria Bureau of Statistics do with the data collected by the Presidential Task Force on COVID19?
A trillion dollar economy? Why can't we think in terms of Naira? We have the natural and human resources that can put us as the richest country in the world. All we need is visionary and selfless leadership.
We can't use the naira (for now) because the dollar is the most powerful medium of fiat exchange today so using the naira to set a target would leave us trailing behind on global development, especially with a 'weakened' naira. I hope that helps.
@11:15
If Nigeria borrows a trillion dollars, not naira, and uses the loan for things Prof recommended, it's akin to borrowing for local consumption that can't repay the loan.
Whenever you borrow in dollars or foreign currencies make sure the money is used to earn commensurate dollars by which the country can easily repay the foreign loan, and not for making our driving experience better, use naira for that.
If there is steady light and the roads are fixed and the economy is in good shapes, Economic activities will increase, including foreign investors, which will generate more revenue to pay back the loan gradually.
@@BenjaminOriaku-m2sKeep deceiving yourself alone😂
You misunderstood his analogy. If the roads are bad without being fixed, it will take more time to cover a given distance, cost more money to maintain road transport vehicles, and pose more security risks as it is easier for bandits to waylay or swarm drivers on slow bumpy roads than on smooth, fast expressways. It is not about pleasurable driving experience on the roads, but the economic costs.
@@ugowilliams8437 economic cost that does not generate dollars only naira.
Okay, how should Nigeria generate dollars to pay it's foreign loans? Do better roads generate dollars?
@dubemellit2932 do you know how much the metro train is generating for dubai? I am not saying investment is not good, but even if it's infrastructure they are using the money for , it is alot better compared to what we are getting at the moment.
If your GDP is at 500 B USD then you need about 16% a year growth to get to 1 Trillion in 5 years. If your GDP is at 200 B USD which is the current number then you need over 20% a year in GDP growth. Bottom line its not possible. It is a nice aspiration but its not realistic
Work in progress
@@oludayogiwa1806your father is not smart
@@oludayogiwa1806Are you not understanding math or statistics? It is not possible!
A trillion dollar economy with a déplorable energy output?
Ha,ha, we even want to muscle creative thinking because of the queer ambition of one man.
Most people think a trillion dollars economy is not possible but the government has a plan in place, once the economy stabilises with a foreign reserve of $70b the naira will be revalued and that will bring up the gdp from e.g from $400b to $800b by the end of 2026. The revaluation of the naira is the key to reduce inflation and increase the GDP
Trillion-dollar economy with no electricity, is that possible? What Nigeria runs currently is a firewood economy and there is no way a firewood economy is reaching a Trillion dollars in this day. It will continue to fall or stagnate and eventually fall.
@@richardobiekwe9437 you should say insufficient electricity, however most companies generate their own electricity hence the high cost of production, most homes also generate own power but with sufficient electricity the economy will be btw 2 or 3trillion. What you should look at is the criteria used in calculating the GDP not playing dismissive politics. Follow the data and not be a pessimist
@kenny7872 Yes, I have followed the criteria, and the main thing in building GDP is the basic amenities the nation lacks, and the number 1 basic amenity is electricity. Nigerians are losing trillions because of poor electricity.
I am sure paul Alaje will never see anything good in this government. See how this professors make simple analysis that everyone can understsnd and see positive coming in the country rarher the likes of paul alaje will akways be negative. I wish tinumbu can hear this professor so he can bring him on board in his economic team
I'm sorry, 100 trillion naira budget next year? Which game is BATistuta playing?
Na him understand o ...🤣🤣🤣
By 2030, not next year..
Hope that $1 trillion economy won't be achieved only on paper... no "working to the jomo" ... like the way some high school kids derived maths answers in those days... 🤣🤣
Who is this man that cannot speak techinical english language for economic terms. GDP of Nigeria cannot be more than $250 billion. Anybody working in Nigeria. All goverment workers are on welfare. We have only service economy, buying and selling, collection of rents and the touts and security agencies commiting extortions, frauds and intimidations. That is GDP of Nigeria for you.
You have a point, yes no productivity and $250 billion dollars is over inflated.
Secondly, 2 million or 2.5 millio barrels a day will help if properly managed.
Theory economy audio economy bla-bla-bla.😅😂
This is sick
Shameful negative analysis. A time is coming your station will be a laughable stock