Whether something’s a good or a bad investment is one thing but whether something’s a ponzi scheme – as we’d suggest Dantata Success and Profitable Company in Nigeria is – is another. There’s really just the one feature we need to be able to declare that it is a Ponzi – the solicitation of investment at excessive returns. The sort of returns that can only be paid out by using later investor’s money to pay off earlier.…See More
Within economics there are two closely related ideas, the resource curse and Dutch Disease – Nigeria suffers from both of them. These two together explain why Nigeria is not in fact rich from the oil, rather it’s dependent upon oil and not rich.
Fortunately this has been noted locally:
Salami said, “They say Nigeria is oil-rich, Saudi Arabia is oil-rich, Nigeria is oil dependent. Nigeria does two million barrels of crude oil per day, then at least 365 days roughly 800 million barrels of crude oil annually.
There’s a threat of strike action in Nigeria over the new possible level of the national minimum wage. The problem is that the demand of N 30,000 (call it $80 among friends) comes when it is obvious that the current minimum wage is already too high. Yes, $80 is to high. Note that’s not an hourly sum but a monthly and it’s still too high.
We can work to this backwards. Look for what we would think to be the effects of a “too high” minimum wage and then, if we see them, conclude that it is too high.…See More