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Nairaland Forum / Nairaland / General / Politics / No Subsidy Paid In January— Kachikwu (15058 Views)
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Re: No Subsidy Paid In January— Kachikwu by gists: 11:02am On Feb 03, 2016 |
onatisi:Try harder!! Everybody knows it was pdp that tried to use religion and ethnicity to divide Nigeria Where were you when FFK (gej campaign chief) said silly things like 80% of apc governors are muslims. were you people not the ones wailing that PMB will islamise nigeria. Even Sambo was caught on video tape saying people should not vote for Osinbajo because he has 5000 churches. You can lie but you cannot change history records. |
Re: No Subsidy Paid In January— Kachikwu by asamaigho(m): 11:53am On Feb 03, 2016 |
[quote author=grandstar post=42571404] 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[/quote, ur exports are alltime low and u want him to meet our unneccessary demands for dollar,so u want our reserves to b totally depleted because of forex demand abi? real imports dat hav positive effect on d economy such as equipment,raw materials for production etc have enuf forex. those want to go and spend lavishly in dubia,buy designers wear should source 4their own dollar. u and noi hav sometin in common. sai buhari
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Re: No Subsidy Paid In January— Kachikwu by erico2k2(m): 12:39pm On Feb 03, 2016 |
[quote author=asamaigho post=42579228][/quote] With this kind of statement one is not far frm the reason we li e in bondage in Nigeria. Y don't you ask the FG to lead the way in importing machines ie ones to build refinaries and to be used by direct labour? Y dnt they FG import power station Turbines? etc. |
Re: No Subsidy Paid In January— Kachikwu by grandstar(m): 4:15pm On Feb 03, 2016 |
[quote author=asamaigho post=42579228][/quote] That is why you alliw your forex be determined by market forces. If demand for forex is too strong, your currency will depreciate making imports more expensive snd unaffordable. At the same time, it makes locally goods more competitive price wise increasing local sourcing and boosting exports. There is nothing wrong in importing the luxuries you mentioned. Nigeria's problem is that the country does not export. |
Re: No Subsidy Paid In January— Kachikwu by excel101(m): 4:20pm On Feb 03, 2016 |
Caseless:. We nigerians are the problem of Nigeria. When it is said that Jonathan did something good will praise him nd insult Buhari similarly the other way round. I just dnt understand what we want. |
Re: No Subsidy Paid In January— Kachikwu by excel101(m): 4:20pm On Feb 03, 2016 |
Caseless:. We nigerians are the problem of Nigeria. When it is said that Jonathan did something good will praise him nd insult Buhari, similarly the other way round. I just dnt understand what we want. |
Re: No Subsidy Paid In January— Kachikwu by excel101(m): 4:25pm On Feb 03, 2016 |
centmichael101:. Don't mind them wen they see stories like dat they'll start sayin said Buhari without any scrutiny nd wait for its manifesting 1 Like |
Re: No Subsidy Paid In January— Kachikwu by grandstar(m): 4:31pm On Feb 03, 2016 |
ramsol00: Buharis economic policies are nothing to write home about. Both foriegn economic experts and local economists such as Soludo and Sanusi have both condemned them Buharis economic policies. Buhari is fully in charge of the CBN. The foriegn restrictions started once he assumed power The naira will hit 400 if this expansionary budget is. passed without an official devaluation at theofficial rate. |
Re: No Subsidy Paid In January— Kachikwu by grandstar(m): 4:59pm On Feb 03, 2016 |
Topiipii: coleon and others are supporting hubris. I wanted to go into exportation but had to shelve it becsuse I will not sell my forex earnings at 197! This policy is an amateurish. How will forex flow into the economy if the average exporter is unprepared to export because of this policy. Many foriegn investors will not bring their forex in because of this overvalued rate when the black market is 306. And again, you are saying we should basically ban imoorts and make goods locally. This too is counterproductive. When you brought your woman home, did your mother say," Great! He has brought home a woman. Come and marry her". I am sure not. Your mom will ask, " Does she have good manners? Can she cook? Is she polite? Is she hardworking? Likewise in manufacturing, it is not just about making every products? You have to ask questions? Does the country have comparative advantage in this product? Are we competitive in making it? Are we productive in manufacturing it? These are the time tested questions. Countries don't grow rich by being a Jack of all trades. They prosper by focusing on areas they have comparative advantage. The petroleum sector has brought prosperity to Nigeria. Imagine if the country had 4 sections like that? The truth as you are aware is that protectionism has failed to industrialise the country. Countries that have industrialised have accomplished that through exports. 1 Like |
Re: No Subsidy Paid In January— Kachikwu by grandstar(m): 5:04pm On Feb 03, 2016 |
MabraO: As long as the government refuses to deregulate the price of kerosene and petrol, there will be scarcity. The truth is bitter. Thank me once iy happens! |
Re: No Subsidy Paid In January— Kachikwu by grandstar(m): 5:19pm On Feb 03, 2016 |
coleon: Nigeria does not overimport. Just look at the populations of Belgium,Switzerland and Sweden and compare with the size of their imports. You will even feel ashamed to see Nigeris imports Imports have never been the country's problem but the best scapegoat. Imports generate lots of employment and taxes to the government. Nigerias problem is that the country does not export. The government policy is presently geared towards conserving forex and not generating it. Nobody is keen on selling their hard earned forex at 197 whether they are exporters or foriegn investors. |
Re: No Subsidy Paid In January— Kachikwu by Topiipii(m): 8:27pm On Feb 03, 2016 |
grandstar: To quote loosely from the video posted on the front page in which Pat Utomi advised Buhari to keep quiet: "we had an extended windfall (in the price of oil) for a long time- this was because of China and India and we refused to save". It is known to everyone in this country that the Forex reserves even came down instead of going up at times during this period, so who do we blame? In the past eight years apart from the first two years of Yar' Adua's tenure, our savings (Forex) has been nothing to write home about the current oil crisis is only serving as our deserved punishment. Buhari is only trying to salvage the situation and no matter how good a policy he will come up with, we'll have people who would be affected by that policy. The fact is that we have allowed ourselves to be dug into a pit by successive past administrations and given the situation at hand, a quick recovery is out of the question. It is better for us now to forget about instant participation in the global scene and develop ourselves first as we have nothing to compete with in the first place apart from oil. I will like to go on and develop my points, but I am very tired right now and hardly like typing lengthy responses. P.S: Somebody stated earlier on this thread or the one created by Davide470 that those who are clamouring for devaluation are the BDC operators and those who earn Forex, your words (emboldened above) just confirmed that point. I am presuming that you have a domiciliary account and that your forex will remain in dollars till you attempt to cash in so if that is the case, I am pretty certain that there are ways you can bypass selling your forex at 197 as stated above. |
Re: No Subsidy Paid In January— Kachikwu by banki(m): 1:36pm On Feb 04, 2016 |
erico2k2: People like you don't know anything including the people that like your comment The french drink a lot of wine but they are not the largest importers of champagne WE ARE, they produce... The usa don't IMPORT what they produce locally, the money they earn from taxation and toursim alone is ok to cater for thier next generattion WHAT do we produce in NIGERIA? Nothing, I went to the airport yesterday saw the massive construction that is going on at the abuja airport guess what all the steel and aluminum used is imported then I ask what if ajaokuta steel company was functional, what if aladja steel company was functional? There will be more jobs! More income! The cost of constructing the airport will be less! And that will save the economy billions of usd! |
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