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Noahpinion's profile
Noah Smith
Noah Smith
Noah Smith
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@Noahpinion

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Noah SmithVerified account

@Noahpinion

Bloomberg Opinion writer. Elected "top neoliberal shill" of 2018. Occasionally posts anime gifs.

San Francisco, CA
bloomberg.com/view/contribut…
Joined April 2011

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    1. Noah Smith‏Verified account @Noahpinion Oct 16

      Today's @bopinion post is about Nigeria. I expect its conclusions will not come as a surprise to most Nigerians, but it's good for Americans to be thinking about Nigeria and its problems.https://www.bloomberg.com/view/articles/2018-10-16/how-nigeria-can-escape-the-natural-resource-curse …

      12 replies 204 retweets 302 likes
      Show this thread
    2. Noah Smith‏Verified account @Noahpinion Oct 16

      Nigeria is very dependent on oil, for its government revenues and for its foreign exchange earnings. When oil prices fall, Nigeria's people suffer.pic.twitter.com/wUwZGT2nkC

      2 replies 37 retweets 24 likes
      Show this thread
    3. Noah Smith‏Verified account @Noahpinion Oct 16

      And like many oil-rich countries, the government tries to cushion the blow by subsidizing fuel (this is more expensive than you might think, since Nigeria can't refine all of its own oil). When oil prices rise again, this puts a strain on govt. budgets.pic.twitter.com/lJni9SVorO

      3 replies 24 retweets 22 likes
      Show this thread
    4. Noah Smith‏Verified account @Noahpinion Oct 16

      Meanwhile, fewer and fewer Nigerians have jobs, which could portend a rise in social instability.pic.twitter.com/xUj2UYVQNJ

      3 replies 31 retweets 19 likes
      Show this thread
    5. Noah Smith‏Verified account @Noahpinion Oct 16

      To escape the doom spiral of the Resource Curse, Nigeria should look to a country that seems to have beaten the curse: Botswana. https://openknowledge.worldbank.org/bitstream/handle/10986/18304/multi0page.pdf?sequence=1&isAllowed=y …

      4 replies 33 retweets 51 likes
      Show this thread
    6. Noah Smith‏Verified account @Noahpinion Oct 16

      Botswana's approach is basically: 1. Pour resource revenues into a Sovereign Wealth Fund 2. Depreciate the currency 3. Use SWF to stabilize the budget 4. Invest a bunch in education, health and infrastructurepic.twitter.com/4igm6XIQvn

      4 replies 46 retweets 63 likes
      Show this thread
    7. Noah Smith‏Verified account @Noahpinion Oct 16

      Nigeria is already taking some of these steps, which is great.pic.twitter.com/oaEc1lfhW9

      2 replies 26 retweets 21 likes
      Show this thread
    8. Noah Smith‏Verified account @Noahpinion Oct 16

      But Nigeria is missing one big piece: Investment in education. (It could also stand to invest more in health.)http://thenationonlineng.net/nigerias-disappointing-investment-education/ …

      2 replies 32 retweets 29 likes
      Show this thread
      Noah Smith‏Verified account @Noahpinion Oct 16

      Instead of subsidizing fuel, Nigeria needs to subsidize education (which doubles as child care) and health. This will provide jobs, relieve poverty, and - most importantly - build human capital. (end)pic.twitter.com/h2tiCL0cyA

      10:06 AM - 16 Oct 2018
      • 163 Retweets
      • 138 Likes
      • ((( Jack Lincoln ))) Myron Gaines 🇺🇸🇮🇳 Kolja Barde 🇪🇺 Dr. Liz Powell Chris Richter Jesse Anttila-Hughes RelevantGIF kavanaugh's drunken id Percival S. August
      14 replies 163 retweets 138 likes
        1. New conversation
        2. Dylan Matthews‏Verified account @dylanmatt Oct 16
          Replying to @Noahpinion

          what do you make of the oil to cash option for Nigeria?https://www.cgdev.org/publication/oil-cash-fighting-resource-curse-cash-transfers …

          2 replies 1 retweet 3 likes
        3. Noah Smith‏Verified account @Noahpinion Oct 16
          Replying to @dylanmatt

          I mean, it's better than a lot of stuff, but not as good as investing in health and education.

          0 replies 2 retweets 9 likes
        4. End of conversation
        1. New conversation
        2. Blair Reeves‏ @BlairReeves Oct 16
          Replying to @Noahpinion

          Blair Reeves Retweeted Blair Reeves

          I love that you’re bringing up Nigeria. It’s the emerging global powerhouse that most of the West is sleeping on. But there’s a big difference between Nigeria/Botswana you didn’t mention in your article…https://twitter.com/BlairReeves/status/1043166022231048193 …

          Blair Reeves added,

          Blair Reeves @BlairReeves
          Replying to @BlairReeves @Noahpinion
          You tell Americans how Nigeria is a burgeoning economic giant with nearly 200M people and the largest GDP on the continent, and they just laugh and make a crack about email scams.
          1 reply 4 retweets 4 likes
        3. Blair Reeves‏ @BlairReeves Oct 16
          Replying to @BlairReeves @Noahpinion

          Namely, the ethnic diversity of Nigeria completely swamps that of little Botswana. It’s like comparing Denmark and Texas.

          2 replies 0 retweets 3 likes
        4. Noah Smith‏Verified account @Noahpinion Oct 16
          Replying to @BlairReeves

          So what do you want me to do? Stop recommending good policies to diverse countries? Advise the country to split up?

          1 reply 0 retweets 0 likes
        5. Blair Reeves‏ @BlairReeves Oct 16
          Replying to @Noahpinion

          Not at all - but just like in the US, I think it’s more of a political question of how to win consensus around those policies. I don’t know if many Nigerians would agree that there are useful lessons to learn from Botswana, given how radically different they are.

          1 reply 2 retweets 0 likes
        6. Blair Reeves‏ @BlairReeves Oct 16
          Replying to @BlairReeves @Noahpinion

          (Splitting up the country is also something that serious people have debated there! Not realistic, but still…)

          2 replies 0 retweets 0 likes
        7. Noah Smith‏Verified account @Noahpinion Oct 16
          Replying to @BlairReeves

          Well, they did have a huge civil war about it. I'd rather not inflame those tensions by bringing up the issue.

          1 reply 0 retweets 3 likes
        8. Blair Reeves‏ @BlairReeves Oct 16
          Replying to @Noahpinion

          Naturally. A North/South breakup would make more “sense” than Igboland/Biafra, of course, but neither one is really plausible

          1 reply 3 retweets 0 likes
        9. Blair Reeves‏ @BlairReeves Oct 16
          Replying to @BlairReeves @Noahpinion

          (It’s still a great column though, don’t take any of this the wrong way)

          1 reply 0 retweets 3 likes
        10. 1 more reply
        1. Dr. Gbenga Adesoji‏ @iamgbenga Oct 16
          Replying to @Noahpinion

          $3.5 billion(Subsidy) is about 1.2T Naira. It will build two 250M pry health centres in the 774 municipals plus a 2 Billion secondary hospitals in all 109 senatorial district a 10billion tertiary hospital in all the 36 states of the federation.

          0 replies 3 retweets 3 likes
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        1. Lafayette Capital‏ @LafayetteCapit1 Oct 16
          Replying to @Noahpinion

          Couldn't be said better.

          0 replies 0 retweets 1 like
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        1. Debo Eniola‏ @DeboEniola Oct 16
          Replying to @Noahpinion @asemota

          Right now in Lagos without such removal, the price of commuting has doubled in many routes. Wages have stagnated, unemployment has increased and the only solution you guys kept talking about is how to remove what to fate remains d only thing accessible to all Nigerians?

          0 replies 0 retweets 1 like
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        1. Debo Eniola‏ @DeboEniola Oct 16
          Replying to @Noahpinion @asemota

          Try using unsubsidized fuel to power your business in the US, and come back to explain why it should be removed without constant power and functioning train. You people should aproch our issue from the vantage of a Nigerian and not someone that visits and sees Nigerians fr far.

          0 replies 1 retweet 0 likes
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        1. New conversation
        2. Afonja: The Rise‏ @Alx_nda Oct 16
          Replying to @Noahpinion

          Noah Sir, we [the current leadership] don't have sense in this country, that should explain it all

          1 reply 0 retweets 0 likes
        3. Hanny omo Ajayi‏ @IbukunAyomide8 Oct 16
          Replying to @Alx_nda @Noahpinion

          No we have little sense, but we're selfish and wicked. We care more about us (ourselves and family members) than them (the electorates and the Nigerian masses).

          0 replies 1 retweet 0 likes
        4. End of conversation
        1. Eb‏ @eikonne Oct 16
          Replying to @Noahpinion

          For a country with some of the worlds must educated, an interesting perspective.

          0 replies 0 retweets 0 likes
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        1. ponder‏ @realanifon Oct 16
          Replying to @Noahpinion @eyooekpo

          If Buhari 's government subsidizes education how will they raise money for 2019 elections? Corruption is needed to fund the elections you know.

          0 replies 0 retweets 0 likes
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        1. Debo Eniola‏ @DeboEniola Oct 16
          Replying to @Noahpinion @asemota

          Pls, let government get serious, might accept increment in electricity rates, increase capacity in generation, distribution etc. Subsidized alternative power sources like sola and wind. All this talk about increasing hardship for everyone why goverment does nothing is not welcome

          0 replies 0 retweets 0 likes
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