Mynd44:

Let the Naira hit 400. Perhaps it will knock some senses into our heads and we will cut down our silly importations and start looking inwards in terms of local production when the price it takes to import will become a lot higher than the price it takes to produce it here

ademoladeji:


Shey you dey report sey Govt still dey pay subsidy on PMS ni?

Mynd44:

There has to be a balance between imports and export and we have no semblance of balance at all. These western coubtries you talk about export and import. We only import and then export oil. Guess what, oil prices has crashed and thats the problem

gists:

The irony of it all is that this government policy favours my brothers in Aba. They are the ones that ordinary should benefit from this government because if importation is reduced to the minimum, there will be a HUGE demand gap to fill which the Aba boys can profit from.
But their needless hatred for anything North/Islam is blinding them to this wholesome opportunity.

There will still be need to use toothpicks, nonsensical ready-made clothing items and other senseless commodities that can be produced locally in Aba and other areas. While not support this government to "move" the factories in China (producing substandard products) to our "backyard" which will boost employment. Imagine Aba producing toothpicks for a market of the largest population of black people (over 160 million customers!!)

grandstar:
Subsidy was still paid. Since the naira is sold at a subsidised rate of 197 for the import of petrol, a subsidy still exist. Were the naira allowed to find its true value which is around 230, the price will shoot up to around N100 per litre.

Buhari has still refused to deregulate the price of kerosene and diesel despite super strong reasons to do so. Instead he is still fixing prices, playing to the gallery.

If the price of oil should shoot up today, there will be need to increase the price and there will be stiff resistance

onatisi:

The same way apc opposed every single thing gej was doing then. Apc opposition antics has driven Nigeria politics backwards and now the nation is more divided than ever . Apc used both the religious and tribal card to heat up the polity now do u expect ppl to just forget the past easily like that? It will take years and years for national spirit balance to be restored back into Nigerians. Every Nigerians now sees everything as north vs south and Christians vs Muslims

onatisi:

The same way apc opposed every single thing gej was doing then. Apc opposition antics has driven Nigeria politics backwards and now the nation is more divided than ever . Apc used both the religious and tribal card to heat up the polity now do u expect ppl to just forget the past easily like that? It will take years and years for national spirit balance to be restored back into Nigerians. Every Nigerians now sees everything as north vs south and Christians vs Muslims

grandstar:


400 to 1 is simply 1 step forward, 10 steps backwards.

52% of raw materials used by manufacturers are imported. So it will shoot up their cost snd many of these inputs have no local substitutes.

Also world class machinery which will make the manufacturers very competitive has to be imported.

Imports any way has never been the country' s problem. The primary problem iss that Nigeria does not export

bettercreature:
Deregulation can not work in Nigeria,it will only cause long queue in the NNPC petrol station around the country
Nigerian Marketers are greedy,they'd cause artificial scarcity like they did last xmas

grandstar:


400 to 1 is simply 1 step forward, 10 steps backwards.

52% of raw materials used by manufacturers are imported. So it will shoot up their cost snd many of these inputs have no local substitutes.

Also world class machinery which will make the manufacturers very competitive has to be imported.

Imports any way has never been the country' s problem. The primary problem iss that Nigeria does not export

honeychild:


Actually as far as I can remember it was actually the PDP that made the campaigns about religion ( I can recall countless pastors campaigning about Buhari's plans to islamize Nigeria) and tribe.

Goke7:


you are a big time liar, it was the pdp and Gej himself that divided Nigeria more along tribal lines just because of GEJ's re-election, they painted APC as an Islamic party and told everybody that PMB will islamise Nigeria, GEJ went round churches in Nigeria kneeling before all manner of prophets trying to paint himself as a devout christian that must be allowed to continue to rule prevent PMB from grabbing power to islamise Nigeria according to pdp's yeye theory. Lots of Christians and Pastors fell for his deception especially my peeps from the se. This is one major reason the entire North turned against Gej, even pdp states in the north.

This is also the reason the average se person does not see PMB as President of Nigeria till now. Please don't come here to twist facts.

grandstar:


400 to 1 is simply 1 step forward, 10 steps backwards.

52% of raw materials used by manufacturers are imported. So it will shoot up their cost snd many of these inputs have no local substitutes.

Also world class machinery which will make the manufacturers very competitive has to be imported.

Imports any way has never been the country' s problem. The primary problem iss that Nigeria does not export

onatisi:

Obviously you live in the southern part of Nigeria. Ask from those who live in the north what happened

Goke7:


Thank you Sir o, we will be buying fuel for N200 per litre now if PMB allowed the marketers to have their way and in turn the same advocates of deregulation will blame PMB again for the high price of fuel. Nigerians can be terrible

grandstar:


400 to 1 is simply 1 step forward, 10 steps backwards.

52% of raw materials used by manufacturers are imported. So it will shoot up their cost snd many of these inputs have no local substitutes.

Also world class machinery which will make the manufacturers very competitive has to be imported.

Imports any way has never been the country' s problem. The primary problem iss that Nigeria does not export

erico2k2:

What yoy just said was the argument for subsidy. Did you forget?

grandstar:
Subsidy was still paid. Since the naira is sold at a subsidised rate of 197 for the import of petrol, a subsidy still exist. Were the naira allowed to find its true value which is around 230, the price will shoot up to around N100 per litre.

Buhari has still refused to deregulate the price of kerosene and diesel despite super strong reasons to do so. Instead he is still fixing prices, playing to the gallery.

If the price of oil should shoot up today, there will be need to increase the price and there will be stiff resistance

erico2k2:

Yes if not tell me from what country they import the pms let's check thier pump prise minus VAT oyah U ready to do the maths?

Goke7:


the subsidy all along was a scam by the Nigerian elites which made some people to doubt whether there was actually subsisdy, the govt itself knows the landing cost of pms but like someone said on this forum nigerian marketers are greedy lots who are there to rip us off with excuse of deregulation, if the price of the major raw material of what they are importing has greatly reduced over time, how come some folks still want to sell the product for an higher amount?

These guys have been receiving huge amounts as subsidy despite the crash in price of crude oil haba.

erico2k2:

U got it wrong sub side was never the scam but the volume of subsidy was the scam.people declaring more than what they imported even empty ships where declared as fully laddened. That was the scam.we can't do without Subsidy unless we can produce %80 of our daily consumption even at that we still need subsidy by govt.

Goke7:


I agree with you cos we are saying the same thing which points to one word - corruption which includes the marketers as well, thanks.

onatisi:

The same way apc opposed every single thing gej was doing then. Apc opposition antics has driven Nigeria politics backwards and now the nation is more divided than ever . Apc used both the religious and tribal card to heat up the polity now do u expect ppl to just forget the past easily like that? It will take years and years for national spirit balance to be restored back into Nigerians. Every Nigerians now sees everything as north vs south and Christians vs Muslims

erico2k2:

Bravo.we got there at last
This is the major challenge we face.everyone wants his/her share of the national cake. Y would this govt not borrow money to build even a small refinary beats me.dies this not surprise you? This Oil swap would be an Ideal way to get Model refineries and power stations built so we can be self sufficient and look unto solving other matters.
Question :Would the Cabals agree to this
Answer:NO.

ademoladeji:


Na you suppose sabi nau! You shld give us where they buy PMS from, rate at which it's being sold to dem, their VAT, cost of bringing it back plus contingencies.

Professor, I'm waiting 4 you ooooo

coleon:


My dear friend the govt has thought this through and i can tell you a genuine manufacturer that intends to import machineries for manufacturing will get FX at the official rate of 197naira to a dollar through LC's, i am saying this as a professional trader that does international trades day in day out in a commercial bank.
The only set of people the govt has pushed to the black markets are people like you that erodes our economy without any production capacity making us imports toothpicks,soaps,plastics e.t.c and i support the govt fully on this.
Nigeria need to take this tough decision , you said importation has never been the issue and you got likes, stop misinforming the public because of your pain to get cheap FX because over-importation is actually bad for any economy and it's the very big issue here in Nigeria because this is what has put so much pressure on our foreign reserves and it's making the exchange rate to sky rocket.
We need to stop this importation madness ASAP and export more finished products other than crude oil.

grandstar:


There is no subsidy and yet the government can't meet demand for forex! Its incomprehensible

The biggest symptom of its inability to meet demand is the 306 at the back market.

Buhari extremely poor understanding of economics will leave the economy in tatters.

The naira will hit 400 if this expansionary budget is passed