EastanPower:


I support any Government policies that would frustrate importation.

I keep wondering why we import frozen chicken! There are a lot of Nigerians into poultry business and then can provide us with all the chicken we want.

Why are obsessed with eating rice from Asia? Why can't we encourage Abakaliki/Anambra rice farmers to produce more and earn good income for their labour?

Seun:
It worked marvelously in Argentina, Greece, and Zimbabwe. Why not Nigeria? /s

IyaIode:

Add China, India and Brazil to your list to sound logical. Greece and Argentina didn't fail because of falling currency value. Sanctions killed Zimbabwe.

China and India discouraged importation of finished goods, that's why they are economic powers today. Nigeria should do same.

Exporters are smiling to the bank with the value of the naira.

IyaIode:


God bless you, the only problem with banning stuff is we will have WTO and IMF to contend with.

Reyginus:
So how is this an exchange rate policy?

Seun:
It worked marvelously in Argentina, Greece, and Zimbabwe. Why not Nigeria? /s

IyaIode:

Add China, India and Brazil to your list to sound logical. Greece and Argentina didn't fail because of falling currency
value. Sanctions killed Zimbabwe.

China and India discouraged importation of finished goods, that's why they are economic powers today. Nigeria should do same.

Exporters are smiling to the bank with the value of the naira.

IyaIode:

So we devalue to like say 300 naira to $1, who is to say the scarcity of dollar won't drive the black market to 500 naira.

Btw devaluing will drive up landing cost of petrol, are you ready to pay more for petrol?

If you increase tariff, importers will increase local price driving up inflation, you know this things don't work in Nigeria.
E. g if dangote had not set up a sugar factory, importers will not stop importing. How many dangotes do we have

maclatunji:
Buharinomics is Working

I can see why former President Jonathan could oversee the most odious looting of the treasury with the way Nigerians are reacting to the current state of the economy. The Buhari government has made it clear that it is determined to wean us off importation and what this means for a country that imports virtually everything from eggs to toothpicks is that people will feel the pain initially.

However, the Buhari government's economic policy of stifling frivolous imports and not officially sanctioning the devaluation of the naira is working as the manufacturing industry is beginning to grow. There is evidence for this assertion here http://communityvoiceradio.com/chinese-auto-firm-to-set-up-assembly-plant-in-calabar/ and http://nairametrics.com/bua-group-and-this-chinese-company-will-build-a-1-9b-steel-plant-in-nigeria

The same with agriculture https://www.nairaland.com/2904854/anambra-begins-vegetable-export-uk
and http://www.punchng.com/ooni-promises-jobs-for-40000-youths-through-agriculture/.

Yes, there are initial pains but if Nigerians support the government and stop the addiction for imported items, we will be on the way to long-lasting and sustainable economic growth and development.

Despite the problems with the budget which proper scrutiny from the National Assembly can help address, it still has a large focus on infrastructure development that will benefit the economy and citizens in the middle to long term.

Our duty as citizens is to look at ways of helping to make things better as the government fights corruption and implements structural reform of our economy not to whine about not being able to continue our destructive habits of wasteful spending and unnecessary importation for temporary gain.

Source: http://www.coolstuff49ja.com/2016/02/buharinomics-is-working.html

Seun:
It worked marvelously in Argentina, Greece, and Zimbabwe. Why not Nigeria? /s

arewafederation:

It's not. It's the effects of the exchange rate policy.

Alxmyr:
God bless you my brother.
But the blessing will only become permanent if you can say Amen to this short prayer.
May God change your life the way Buhari has changed Nigeria in the last 8 months.

Seun:
It worked marvelously in Argentina, Greece, and Zimbabwe. Why not Nigeria? /s

drss:
make una prepare o! very soon milk n bread go scarce cos buari dullard does not know economics. d only tin he understand is corruption.
If i was in buari's shoes, dis is wat i for don do:
[b]- as soon as am sworn in, i will appoint minister of finance n constitute an economic team on 5th june 2015 to fomulate economic policies to drive d economy out of oil. i will make sure my economic team through budget office prepare 2016 national budget by september for presentation in october 2015.
- i will prevail on national assembly to pass national budget before christmas break on dec 2015.
- on june 20th 2015, i will devalue d naira n send suplimentary budget bill of N700 billion to national assembly for approval. dis monies will be use to support strategic industries like automobiles to help boost their production capacity for local consumption n export. i will partner with china to help develop our local content on manufacturing. d supplimentary budget will serve as an emergency budget to pave d way for export led economy. parts of d monies will also be used to help fix power infrastructure.
- i will invest massively in agricultural mechanization. infact agriculture will get d lion share of N700 billion in my 2016 budget. If i were buari, i will improve d youwin program n support young pipul who have passion for farming. special grants will be given to poultry farmers instead of d so call N5,000 to d poor nonsense.
- i will begin massive infrastructual development of roads n bridges n prepare a contract for d construction of 2 sea ports in south east n south south. container ports will also be established in north east for export of agricultural produce.
- i will downsize d federal civil service.
- i will abolish govt sponsorship of pilgrimage. make everbody hussle for him religious duties.
- i will send a bill for final implementation of true federalism where every state will be responsible for demsleves. d states will have total conrol to their resources n develop their solid minerals within their domain. afta which i will abolish federation account. no more feeding bottle.
- finally i will bail out all d states of d federation to enable dem develop their economic resources according to ther comperative advantage. each state will be responsible for generating their revenue. afta which all d states will be left on their own. [/b]
dis is wat i will do if i were buari.

Seun:
It worked marvelously in Argentina, Greece, and Zimbabwe. Why not Nigeria? /s

Omenkata:

because Nigeria is being governed by the most useless incompetent hopeless president ever.
the illiterate from Daura that only knows how the meals of his private jet tastes because as a useless old hag cattle rearing bastard vagabond he is, he prefers junketing around the world showing the world his useless old face than sticking his nyanch in Nigeria and deliver the dividend of democracy.

a man with a charlatan like lair Muhammed as a minister is doomed to fail
no amount of propaganda will save his useless self.

shame to the worst president ever since the rise of civilization and democracy

ISpiksDaTroof:

You're either averse to the truth or pretending you know more than you actually do.

Seun:
It worked marvelously in Argentina, Greece, and Zimbabwe. Why not Nigeria? /s

Seun:
It worked marvelously in Argentina, Greece, and Zimbabwe. Why not Nigeria? /s

Alxmyr:
God bless you my brother.
But the blessing will only become permanent if you can say Amen to this short prayer.
May God change your life the way Buhari has changed Nigeria in the last 8 months.

IyaIode:

Add China, India and Brazil to your list to sound logical. Greece and Argentina didn't fail because of falling currency value. Sanctions killed Zimbabwe.

China and India discouraged importation of finished goods, that's why they are economic powers today. Nigeria should do same.

Exporters are smiling to the bank with the value of the naira.

Seun:
It worked marvelously in Argentina, Greece, and Zimbabwe. Why not Nigeria? /s

IyaIode:

Add China, India and Brazil to your list to sound logical. Greece and Argentina didn't fail because of falling currency value. Sanctions killed Zimbabwe.

China and India discouraged importation of finished goods, that's why they are economic powers today. Nigeria should do same.

Exporters are smiling to the bank with the value of the naira.

Omenkata:

because Nigeria is being governed by the most useless incompetent hopeless president ever.
the illiterate from Daura that only knows how the meals of his private jet tastes because as a useless old hag cattle rearing bastard vagabond he is, he prefers junketing around the world showing the world his useless old face than sticking his nyanch in Nigeria and deliver the dividend of democracy.

a man with a charlatan like lair Muhammed as a minister is doomed to fail
no amount of propaganda will save his useless self.

shame to the worst president ever since the rise of civilization and democracy