Difference between revisions of "User:RahalMccall69"

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Difference between revisions of "User:RahalMccall69"

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-N IGERIA may be the giant of Africa; we may be the largest economy on the continent, but the people are definitely not benefitting much from the country.
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-With our huge population, we should be seeing our companies dominating on the African continent; instead, South African companies are the ones reaping from the continent.
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-As an economist, I have discovered that the biggest problem we are having is our interest rates, which are so high and this is discouraging investors and business owners from taing risks. That is why we have a lot of one-man businesses stunted by lack of suppot from government or the banks. The average interest rate for lending money in Nigerian banks is 23 per cent, while the banks pay just 12 per cent to fixed depositors. This is inhibiting the growth of businesses in the country. In South Africa, for example, the average interest rate for loaning customers is six per cent. That is why a one man business can take a huge amount of money to support his business. If this happens in Nigeria, all the profit will be spent servicing the interest.
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-The high interest rate is why we have only a number of poorly-run one-man businesses around.
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-If we want to stamp our authority as the biggest economy in Africa, then we need to support small businesses. Our banks should stop lending only to oil and electricity companies. These are companies that benefit only a few wealthy individuals. Our banks should assist the small scale businesses too, while lowering the interest rate.
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-There is also the need for government to do more to support small businesses. At the moment, only the oil, electiricty, telecommunication, finance and construction companies are booming in Nigeria , and how many average Nigerians have stakes in these?
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-This email address is being protected from spambots. You need JavaScript enabled to view it.&nbsp;<p>Related Articles:</p><ul><li><a href=http://www.louisvuitton-pascher.com>Louis Vuitton Speedy Round</a></li><li></li><li></li></ul>
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