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| orisa37: 5:21am On Jun 02 |
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DON'T IMPORT NOTHING. PRODUCE PRODUCE PRODUCE TO SATISFY HOME NEEDS FIRST EVEN BEFORE YOU THINK OF EXPORT.
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| nightsaint(m): 6:35am On Jun 02 |
especially not the kind of politicians we currently have whose sole knowledge of the economy is how to deal on drugs
Bizibi:
there is a reason why economists call it balance of trade..... you don't need to bring politics into discussion like this,what the op said is the truth,the government need to adjust some policies for Nigeria to grow. There are certain exports nigeria can't compete now. Nigeria government need real technocrats in some agencies not politicians and sycophants.
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| femi4: 6:36am On Jun 02 |
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Importation is good but are we importing rightly
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| Kay17: 6:57am On Jun 02 |
mrvitalis:
Let me start by saying this... If you are not grounded in economics please read and
There has been this sentiment in Nigeria that import is what's killing Nigerian economy.. Lmaooo uts funny
Let me start by saying this importation has never harmed any economy, lack of export is what kills an economy
If you refuse to import what you can produce cheaper than imported once you are reducing the living standard of your people by reducing their purchasing power
As a nation because you can produce something doesn't mean you should... Say the locally made A cost ₦100 and imported once cost ₦20 by all means allow import
Some import duty we have is exactly what is killing Nigeria
Why should there be import duty on wheat? Can we ever produce wheat effectively? Never
Why us their import duty on stock fish? Can it grow here?
Why is their import duty on turkey? Do we have a turkey industry?
Don't get me wrong I understand import duty on rice, we have the land and climate and labour to compete
But import duty on steel? Lmaooo England just closed its last steel company because it was running at a loss... Ajokuta can never work or produce steel cheaper or even 150% price of imported steel... The iron concentration is too low 33% minimum requirements is 68% ... So we would need to enrich it which would increase cost
Import duty on steel have killed many industry from going global because their steel price put them at a disadvantage...
We want auto industry but we have import duty on steel and aluminum? Funny people
Why is their import duty on fabrics? We can never compete in the fabrics industry our cottons are too expensive and production is too poor... Import duty on fabrics is preventing Aba from competitng with turkey🇹🇷 and Bangladesh
Ok you want to protect fabrics industry but you won't allow cotton import? Funny people
To put it plainly To export as a nation you must import especially if you want to export finished goods and not raw materials
There is a reason the biggest export nations are also biggest import nations
We need economic policy change as a nation
Well what do I know
We reasonably expect political parties to organize and run on ideas such as this. If a party can articulate coherently a roap with ideas such as these, people will work with them and vote them.
Rather we want to discuss north and south.
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| mrvitalis(m): 7:14am On Jun 02 |
Kay17:
We reasonably expect political parties to organize and run on ideas such as this. If a party can articulate coherently a roap with ideas such as these, people will work with them and vote them.
Rather we want to discuss north and south.
This is what Peter Obi have been saying since 2019
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| chipet67(m): 7:55am On Jun 02 |
Ttalk:
You just want to justify container economy you practice in your region.
Your Obi supermarket depends on importation of junks into the country and you want naira to appreciate.
Are you expecting a fiat pronouncement that will make naira appreciate overnight?
Let your charity begin at home and first tell your Obi to embark on building a business that will produce products that Nigeria can buy and export, stop blaming the president for the problem caused majorly by your brothers
Edited: I am sure calling out the hypocrisy of the OP and his Obidients brothers really touched your nerves hence your going gaga on my mention.
Just like I said your container economy is what has destroyed this nation and it is high time Nigeria consciousness is raised to address the monster caused majorly by a section of the country.
The government didn't placed a blanket ban on importation as the OP trying to portrayed and placing tariff on certain commodity is necessary to protect local industry and create employment.
How will tariff placement on alcohol, cigarette, fabrics and some basic grains that can be produced locally reduced the standard of living according to the OP.
His general contents comes from the position of unpatriotic stance and a traders mindset where individuals business of importation hurts the overall economy of Nigeria.
Today, the proponent of importation is good are the people dumping substandard products especially pharmaceutical items and drugs that are killing Nigeria in the name of importation into the country, empowering foreign industries while destroying the local ones and creating high unemployment and weak currency.
Hypocrites
The statement is right, tho I am not saying you are wrong. Come to O'Neil and see a lot of empty cargoes returning to their countries after supplying us goods.
If we have a lot to export, when these ships comes with products, they should leave with our exports, not return empty.
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| Ttalk: 8:22am On Jun 02 |
DmonSlayer10:
Listen Reno,you very Well would have perfectly understood his prognosis on balance of trade but because you're drunk with Bigotry your head became beffuddled!!
Was he talking about blanket importation? No!! Did he infer that Alcohol,cigarrettes and such trivial imports be allowed?No?? Why then did you bring Alcohol importation and the likes into it?To discredit the write-up? Why? For What? Is the write-up about Tinubu or is it about the general malady in Nigeria's Import/export regime since a long time ago??
Bro,your being clever by half can never and will never go Well for you!!
You are dying slowly of Bigotry while they are moving on...
Tell me how many developing countries have been able to maintain balance of trade?
What many of you don't understand is importation and exportation works as each one pulls other depending on how the country manage its import and export trade policy.
You will agree that over there years, the government have oiled the importation system to the extent that Nigeria now depend on imported maize to feed it's livestock's industry. Sincerely, do you think Nigeria will ever make a head way if we can't excel in area we have comparative advantage such as agriculture.
This is the time Nigeria government should place a stringent measure to curb importation of junks that are being dumped into the country. If many of you critique find your self in the production sector is when you will realize how vulnerable and weak Nigeria has become as a result of over dependent on importation and the consequence lack of innovation that have stagnated our industrial sector. But how do you convince a container economy mind. Sad.
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| Ttalk: 8:33am On Jun 02 |
chipet67:
The statement is right, tho I am not saying you are wrong. Come to O'Neil and see a lot of empty cargoes returning to their countries after supplying us goods.
If we have a lot to export, when these ships comes with products, they should leave with our exports, not return empty.
What you have failed to see is that the moment importation is not checked, then it destroyed the exportation drives of a country.
Control importation by placing tariff and ban on certain commodity and see the the law of necessity takes its course. All the items mentioned by the OP can be produced in Nigeria including steel with our iron ore that contains highly needed minerals like aluminum with high return
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| kingsavage: 8:55am On Jun 02 |
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We should stop importing what we can manufacture. Not importing everything even to matches and cotton buds
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| charles614: 9:19am On Jun 02 |
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Who doesn't know that , even countries like Singapore imports water and petroleum from malaysia
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| chipet67(m): 9:27am On Jun 02 |
Ttalk:
What you have failed to see is that the moment importation is not checked, then it destroyed the exportation drives of a country.
Control importation by placing tariff and ban on certain commodity and see the the law of necessity takes its course. All the items mentioned by the OP can be produced in Nigeria including steel with our iron ore that contains highly needed minerals like aluminum with high return
Doing all these without exporting is still not cool.
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| Badb0y4lyf(m): 1:46pm On Jun 02 |
Agbegbaorogboye:
Well according to statistics, Nigeria has been having more exports than imports since 2021 at least
Bro I work in the export sector the exports are not translating Indians, Chinese and Arabs are the ones making the profit. They buy directly from the farmers and export and sell to their almost times two the price.
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| codemaniacs: 5:38pm On Jun 02 |
Badb0y4lyf:
Bro I work in the export sector the exports are not translating Indians, Chinese and Arabs are the ones making the profit. They buy directly from the farmers and export and sell to their almost times two the price.
Why can't you also buy directly from the farmers and export and sell for your own profits..
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| codemaniacs: 5:49pm On Jun 02 |
Eriokanmi:
Not true.
What we lack is discipline. You also need to consider what's called "comparative advantage" in economics. I give you what you don't have and in which i can do better, and you do the same to me. A country doesn't have to export most things to develop. No! There's so much corruption in the land. I've been to most parts of the EU countries. Many wish they had one quarter of what we had. They import much more than they export yet, their GDP is way higher than ours. You sourced for loans for developmental projects on which interests will be paid and eventually, you paid the capital from your foreign exchange earnings(e.g, crude). You got the loan and awarded contracts to your cronies and proxies at 3 times higher than the actual contract sum. Most parts of the jobs weren't done and the money ended in your pockets. By the time the loan was liquidated, nothing was left to move the country forward in all spheres. That's the way Nigeria is being run by the government of the day.
Visit Czech Republic, Hungary,Iceland, Poland, Ireland, and other poor eastern European countries. They call themselves poor but their GDP is way higher than ours. They import much more than they export.
When you vote the right candidate into power, someone who has no interest in dragging business with business owners but willing to create an enabling environment for businesses to thrive, Nigeria will experience true development. Only through this can we grow an export-driven economy. When last has the federal government looked into cocoa, cola, cotton,coffee and other agricultural produce? What of loans to local farmers. Bank of agriculture is gone moribund. Agric used to be our strength before the advent of oil. When they want to give out loan to farmers, they deliberately boycott BOA and give governors in every state to share. They'd eat 90% of it and the real farmers don't see anything.
Amazingly, these produce are even more needed now than ever, globally. We could see what PA Awo did with agricultural produce, the north was rich in cotton. Our steel was working. My grandpa's house was built with steel from ajaokuta back in the days when they first started, before it was shut down. There was a railway built up to itakpe , conveying ores. What has changed? The answer is simple...indiscipline cum corruption. Politicians would come to you, they tell you things they can't achieve in a decade and you can't ask questions. Someone came and said he built an entire city/state and you fell for his lies, maybe out of bigotry and you got stuck as he doesn't care about your existence now that he's in power . Who's to blame? The same person awarded s to his company he's operating by proxy but can you do anything?
In conclusion, being export driven is a panacea to every country's economic growth but not the actual factor affecting us as a nation. Even if you're the world largest exporter but your leaders lack discipline, those who export less will be better than you. New Zealand and Australia put together import 5 times more than what we import and export far less, yet they're much more developed with better GDP, why? You can answer that. With good leaders in place who truly means well for Nigeria, we will attain our full potentials but are you ready? Aren't you still blinded by tribalism or bigotry? In china, if you steal government or public funds,it's execution. Here, after a few media trials, they'd leave them alone and if they now the ruling party, their sins are forgiven.
We're just suffering in the midst of plenty, needlessly. A prime minister of a developed nation was seen boarding a commercial plane last year cos his jet was not functional. Can tinubu do that? He had 3 private jets before becoming president. What if he channeled cost of 2 jets into agriculture in Lagos and employed people in his farms? How many manufacturing or thriving businesses does he have? These are the issues we deliberately set aside. See what they spent on building a VP's residence? Every leader just comes, eats and leaves without any meaningful programme in place. All we see is propaganda and lies. Had the 2bn USD spent on PHC refineries TAM, which has now been shut down, been channeled into agriculture, we won't be importing most of the agricultural needs in a few years to come rather, we'll be exporting them. It's a shame to note that Nigerian industries now import cassava starch because local suppliers can't meet up. Our leaders don't even feel ashamed of lying anymore cos they know you're still sleeping. Wake up!
Awo's agriculture is still there.. the north still produces cotton but it gets cancelled out and rubbished due to the hyper importation mentality of i_g_b_0_s.
It is western influence that devalues the naira which spoilt the purchasing power of every Nigerian and causes Nigeria to struggle.
you don't understand their hatred for black people globally especially those in Africa..
india annual budget is ₹48 trillion which is equal to $560 billion ( with a population over 1.4billion people
while Nigeria annual budget is ₦49 trillion which is equal to $30 billion ( with a population of 200million people )..
the point is Western powers claim Nigeria's population is the reason for ₦ Naira's bad currency conversion to the dollar..
but India with a population 7 seven times Nigeria's own is not affected by the same policy that causes Nigeria's bad currency conversion to the dollar..
if you reduce india annual budget to ₹28 trillion similar to Nigeria ₦28 trillion..
india's ₹28 trillion is still equal to $326 billion...
South Africa R2.59 trillion is equal to $138.5 billion due to the whyte boers that stayed there.
the Naira is a weapon fashioned against Nigeria and Nigerians by the Western powers.
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| Melbrom(m): 10:49pm On Jun 02 |
Ttalk:
You just want to justify container economy you practice in your region.
Your Obi supermarket depends on importation of junks into the country and you want naira to appreciate.
Are you expecting a fiat pronouncement that will make naira appreciate overnight?
Let your charity begin at home and first tell your Obi to embark on building a business that will produce products that Nigeria can buy and export, stop blaming the president for the problem caused majorly by your brothers
Edited: I am sure calling out the hypocrisy of the OP and his Obidients brothers really touched your nerves hence your going gaga on my mention.
Just like I said your container economy is what has destroyed this nation and it is high time Nigeria consciousness is raised to address the monster caused majorly by a section of the country.
The government didn't placed a blanket ban on importation as the OP trying to portrayed and placing tariff on certain commodity is necessary to protect local industry and create employment.
How will tariff placement on alcohol, cigarette, fabrics and some basic grains that can be produced locally reduced the standard of living according to the OP.
His general contents comes from the position of unpatriotic stance and a traders mindset where individuals business of importation hurts the overall economy of Nigeria.
Today, the proponent of importation is good are the people dumping substandard products especially pharmaceutical items and drugs that are killing Nigeria in the name of importation into the country, empowering foreign industries while destroying the local ones and creating high unemployment and weak currency.
Hypocrites
How can Nigeria be a production nation without electricity, access to loans and good economic policies. You think business is beans Abi
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