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FG Raises Import Duties On Luxury Goods, Food Items That Have Local Alternatives - Business (5) - Nairaland

Nairaland Forum / Nairaland / General / Business / FG Raises Import Duties On Luxury Goods, Food Items That Have Local Alternatives (29956 Views)

Budget: FG Raises Non-oil GDP Projection To N104tn / FG Slashes Import Duties On 115 Items / Government Raises Import Duties On Consumable, Luxury Goods (2) (3) (4)

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Re: FG Raises Import Duties On Luxury Goods, Food Items That Have Local Alternatives by VictorRomanov: 9:00am On Jan 03, 2017
grandstar:


Import substitution policies do not work. Google is your friend.

Well....google has this to say:

http://www.umich.edu/~econdev/importsub/
Re: FG Raises Import Duties On Luxury Goods, Food Items That Have Local Alternatives by Delonn(m): 9:01am On Jan 03, 2017
idupaul:


What has this got to do with the rich ...did you see that antimalarial and antibiotics are affected?
What is your opinion and contribution on the topic? My opinion I said. What is yours?
Re: FG Raises Import Duties On Luxury Goods, Food Items That Have Local Alternatives by idupaul: 9:01am On Jan 03, 2017
Toketimt:


U lack comprehension skills. What u read plainly stated that Tokunbo cars are luxury goods. The op that post was directed to is among the privilege considering what he stated. Stop being stupidd

Among the privileged what ? Privileged poor people . Keep avoiding the antimalarial and antibiotics also affected , keep focusing your baseless arguments on vehicles soonwhen you lose a loved one to sickness Ur eyes will open.. you are clearly being paid to post these shallow and misleading arguments

1 Like

Re: FG Raises Import Duties On Luxury Goods, Food Items That Have Local Alternatives by Toketimt: 9:01am On Jan 03, 2017
idupaul:


Put your mind to use dude . You can't see beyond your short nose

Do u even Av a mind u can call urs? A mad man will never accept his pathetic state. Urs can't be an exception.

1 Like

Re: FG Raises Import Duties On Luxury Goods, Food Items That Have Local Alternatives by Toketimt: 9:02am On Jan 03, 2017
Delonn:
What is your opinion and contribution on the topic? My opinion I said. What is yours?

He has none and provided nothing so far. He is daft
.

1 Like

Re: FG Raises Import Duties On Luxury Goods, Food Items That Have Local Alternatives by Toketimt: 9:04am On Jan 03, 2017
idupaul:


Among the privileged what ? Privileged poor people . Keep avoiding the antimalarial and antibiotics also affected , keep focusing your baseless arguments on vehicles soonwhen you lose a loved one to sickness Ur eyes will open.. you are clearly being paid to post these shallow and misleading arguments

Oponu, so many pharmaceutical companies abound in Nigeria employing Nigerians are producing antimalarials. Stop being stupidd for the umpteenth time.
Re: FG Raises Import Duties On Luxury Goods, Food Items That Have Local Alternatives by gbegemaster(m): 9:06am On Jan 03, 2017
Toketimt:


Am sorry to say this but I will just be blunt because it's the plain truth.
[b]If u av the resources to buy or thinking of buying a car even if it's a tokunbo, u are not part of the over 40% of Nigerians who are extremely poor
. At least u can afford to eat well before thinking of buying a car.
Govt (fed and state because money collected goes to Federation account) needs more money and one of the best ways to source it is taxing luxury goods. As important a car is, it's still a luxury. U don't expect them to start taxing stuffs like garri and tomatoes. That's the norm worldwide.[/b]
This is incorrect. You cannot determine poverty level by who is "thinking to buy" or has the "resources to buy" a car.

1 Like

Re: FG Raises Import Duties On Luxury Goods, Food Items That Have Local Alternatives by Nobody: 9:08am On Jan 03, 2017
Toketimt:


U Av lumped up so many issues however because of time I will not be able to attend to is the way I would love it however will just stress these two things and leave out issues this thread isn't brought up to address.
1) as against what u said, a car is a luxury. As long as we can't agree on this foundation, it's a lost cause going ahead with u.
2) over there in US where. Claim u reside, does substantial revenue of ur govt there doesn't come from people's sweat in form of tax? If it is, why are you averse to ur own government taxing heavily luxury goods?
There is no perfect policy anywhere, it has never been formulated. This isn't an exception. If u realise this, u won't find it difficult to understand that govt has good intentions.
But you forget all the services that they provide. The roads are tarred. Electricity is constant. You can drive your car for 4 years and it will still run like new. You cant tax people if you provide almost nothing. The govt is simply trying to rip where they have not sown. I consider that stealing. If i import a car and you collect 50% of it back from me in fees, you can as well collect the car from me after and start driving it every other day because you own half the value.

4 Likes

Re: FG Raises Import Duties On Luxury Goods, Food Items That Have Local Alternatives by idupaul: 9:12am On Jan 03, 2017
Toketimt:


Oponu, so many pharmaceutical companies abound in Nigeria employing Nigerians are producing antimalarials. Stop being stupidd for the umpteenth time.

There is no single pharmaceutical company in Nigeria producing any antimalarial ..can you name one antimalarial produced in Nigeria ? Please I am waiting
Re: FG Raises Import Duties On Luxury Goods, Food Items That Have Local Alternatives by idupaul: 9:14am On Jan 03, 2017
Delonn:
What is your opinion and contribution on the topic? My opinion I said. What is yours?

I have made some submissions on the issue just check the thread
Re: FG Raises Import Duties On Luxury Goods, Food Items That Have Local Alternatives by idupaul: 9:14am On Jan 03, 2017
Toketimt:


Oponu, so many pharmaceutical companies abound in Nigeria employing Nigerians are producing antimalarials. Stop being stupidd for the umpteenth time.

Mumu I am waiting for you to name the anti malarial that is produced in Nigeria ..Just one and I will exit this thread mumu
Re: FG Raises Import Duties On Luxury Goods, Food Items That Have Local Alternatives by gbegemaster(m): 9:15am On Jan 03, 2017
12inches1:

But you forget all the services that they provide. The roads are tarred. Electricity is constant. You can drive your car for 4 years and it will still run like new. You cant tax people if you provide almost nothing. The govt is simply trying to rip where they have not sown. I consider that stealing. If i import a car and you collect 50% of it back from me in fees, you can as well collect the car from me after and start driving it every other day because you own half the value.
Very good answer to that government representative.

1 Like

Re: FG Raises Import Duties On Luxury Goods, Food Items That Have Local Alternatives by Toketimt: 9:19am On Jan 03, 2017
gbegemaster:
This is incorrect. You cannot determine poverty level by who is "thinking to buy" or has the "resources to buy" a car.

I probably went too far with thinking to buy. Even the poorest of the poor do have good dreams. Thanks.
Re: FG Raises Import Duties On Luxury Goods, Food Items That Have Local Alternatives by idupaul: 9:19am On Jan 03, 2017
Toketimt:


Do u even Av a mind u can call urs? A mad man will never accept his pathetic state. Urs can't be an exception.

Idiata I am still waiting for the name of the antimalarial you and you father are producing in Nigeria ..you don't even know the manufacturing capacity of Nigeria and you are here talking
Re: FG Raises Import Duties On Luxury Goods, Food Items That Have Local Alternatives by Boydehot: 9:20am On Jan 03, 2017
Bear it in mind that there is no local production in Nigeria which has lead to unemployment, were there is no industries how do u expect local production to increase. This government need to checkmate some policys for possible alternative before implementing it.

1 Like

Re: FG Raises Import Duties On Luxury Goods, Food Items That Have Local Alternatives by VictorRomanov: 9:21am On Jan 03, 2017
idupaul:


What's you alternative to to Arthemeter and Lumenfantrine that is critical for the treatment of malaria in Nigeria ? I need Ur answer


We can work together and do research on it's alternatives. Maybe we could test dogoyaro leaves and then extract any anti-malaria components it might have. How about that?

1 Like

Re: FG Raises Import Duties On Luxury Goods, Food Items That Have Local Alternatives by AdeniyiA(m): 9:22am On Jan 03, 2017
Toketimt:


U are getting it upside-down. U are talking about infrastructural deficiencies which I agree with u. However I also stated that unlike before far more funds are currently going into infrastructural development. For two straight years, capital expenditure Av jumped up and that is a fact. These things take time. We cant wait to solve all our infrastructural problems before moving to the next thing. This is the jet age.
Did u read the part of the article where govt reduced the tariff to be paid for essential industrial accessories? Is that not an incentive for industries?
Like any policy, there will always be disadvantages no doubt but on this one, the advantages outweighs the disadvantages.

My point is this,you do not empty the drums because the cloud thunders for it might not rain afterwards...undecided

1 Like

Re: FG Raises Import Duties On Luxury Goods, Food Items That Have Local Alternatives by mindtricks: 9:22am On Jan 03, 2017
malele:





Am not sure u people read the post well.
Let me ask these few questions.

DO u have light for production in nigeria?
Do u have storage systems in nigeria?
How do people get forex for production of SUVS and other antibiotics mentioned?
What prevents the government from puting a timeline to stop these imports?
Hope u people know tarrif for tokunbo cars increased too, how many people Have money to buy new cars?
Hope u people know minimum wage is 18k?

It unfortunate that goat of of president started 2017 like this.

Government will always refuse to do the needful, but keep making wrong moves, hoping to see good results.

People will simpy struggle to adjust and keep up with the new rates in as much as the alternative to importation remains unachievable just as the govt makes it. A rather more holistic approach will yield better result. Wonder how much input stakeholders and manufacturers had on this?

1 Like

Re: FG Raises Import Duties On Luxury Goods, Food Items That Have Local Alternatives by idupaul: 9:25am On Jan 03, 2017
VictorRomanov:



We can work together and do research on it's alternatives. Maybe we could test dogoyaro leaves and then extra any anti-malaria components it might have. How about that?

It takes time to get this right , R and D for drug creation down to clinical studies take an average of 15 years .It means for the next 15 year Nigeria will need to import all the base it needs for to produce any antimalarial as it is s

1 Like

Re: FG Raises Import Duties On Luxury Goods, Food Items That Have Local Alternatives by Toketimt: 9:25am On Jan 03, 2017
12inches1:

But you forget all the services that they provide. The roads are tarred. Electricity is constant. You can drive your car for 4 years and it will still run like new. You cant tax people if you provide almost nothing. The govt is simply trying to rip where they have not sown. I consider that stealing. If i import a car and you collect 50% of it back from me in fees, you can as well collect the car from me after and start driving it every other day because you own half the value.

Actually I didn't forget but I understand that this is not as a result of this govt making. Expenditures are at all time high and income has gone significantly down. What do u expect them to do? By the way for the second consecutive yr, capital expenditure is going higher, that's a plus. Again they aren't taxing all but the high in the society in form of luxury goods.
If u aren't comfortable with the ones they are taxing kindly suggest what they can tax because something just have to be taxed. What u call stealing I call it wisdom for the overall good.
Re: FG Raises Import Duties On Luxury Goods, Food Items That Have Local Alternatives by idupaul: 9:27am On Jan 03, 2017
Toketimt:


I probably went too far with thinking to buy. Even the poorest of the poor do have good dreams. Thanks.

Are you still searching online for the antimalarial you and you grandfather are making in Nigeria ? You are not even aware of what's going on in your environment and yet you think you can argue on behalf of a bad policy
Re: FG Raises Import Duties On Luxury Goods, Food Items That Have Local Alternatives by VictorRomanov: 9:28am On Jan 03, 2017
idupaul:


It takes time to get this right , R and D for drug creation down to clinical studies take an average of 15 years .It means for the next 15 year Nigeria will need to import all the base it needs for to produce any antimalarial as it is s


No problem with that. Remember i said, only those commodities we have a local substitute for. No matter how poor their quality is.
Re: FG Raises Import Duties On Luxury Goods, Food Items That Have Local Alternatives by Toketimt: 9:29am On Jan 03, 2017
idupaul:


There is no single pharmaceutical company in Nigeria producing any antimalarial ..can you name one antimalarial produced in Nigeria ? Please I am waiting

Ur laziness is epic. Simple Google Search would have prevented me from attending to this eediocy. U requested for one, I will give u more.
Glaxosmith...... Is producing in Nigeria and av Nigerian staffs.
Swipha Swiss pharma Nigeria
Biofem etc.
Re: FG Raises Import Duties On Luxury Goods, Food Items That Have Local Alternatives by gbegemaster(m): 9:29am On Jan 03, 2017
Toketimt:

All these are ongoing and u will agree with me that even if we focus on this alone, we will still be on it for at least the next five yrs considering the comatose state they met them. The question is should other excellent initiatives stop till then? Nigerian entrepreneurs are already hailing this move. That is all that matters.
How many times have we placed import restrictions and how many times did it work? Has Nigeria improved in spite of the bans and import restrictions over the years?

The government is just clueless. The have no proper control over the economy. We provide our own water, fix our roads, generate power, pay for security and still pay tax. What does the government do? Spend the money while complaining that Nigerians don't do enough to assist the economy to grow. Mbok make we kill ourself?
Re: FG Raises Import Duties On Luxury Goods, Food Items That Have Local Alternatives by idupaul: 9:31am On Jan 03, 2017
VictorRomanov:



We can work together and do research on it's alternatives. Maybe we could test dogoyaro leaves and then extra any anti-malaria components it might have. How about that?

The active ingredient in dogoyaro is just quinine and it's not a drug that is readily recommended for the the prophylaxy or treatment of malaria due to its grave toxicity and side effects

1 Like

Re: FG Raises Import Duties On Luxury Goods, Food Items That Have Local Alternatives by ceejay80s(m): 9:31am On Jan 03, 2017
ckmayoca:
Good step. I hope they regulate the local price also because our people will increase the price if the demand is higher than the supply locally produced items.

Na we dey do ourselves, we too greedy
Re: FG Raises Import Duties On Luxury Goods, Food Items That Have Local Alternatives by Toketimt: 9:31am On Jan 03, 2017
idupaul:


Mumu I am waiting for you to name the anti malarial that is produced in Nigeria ..Just one and I will exit this thread mumu

Eediota, I can't continue to spoonfeed u continously knowing fully well that u are very daft. Work on those names I gave and realize that u are nothing but a waste to ur generation.
Re: FG Raises Import Duties On Luxury Goods, Food Items That Have Local Alternatives by Toketimt: 9:32am On Jan 03, 2017
idupaul:


Are you still searching online for the antimalarial you and you grandfather are making in Nigeria ? You are not even aware of what's going on in your environment and yet you think you can argue on behalf of a bad policy

Fool, so u know that there is a www yet y chose to ask me foolish questions right?
Re: FG Raises Import Duties On Luxury Goods, Food Items That Have Local Alternatives by Toketimt: 9:36am On Jan 03, 2017
gbegemaster:
How many times have we placed import restrictions and how many times did it work? Has Nigeria improved in spite of the bans and import restrictions over the years?

The government is just clueless. The have no proper control over the economy. We provide our own water, fix our roads, generate power, pay for security and still pay tax. What does the government do? Spend the money while complaining that Nigerians don't do enough to assist the economy to grow. Mbok make we kill ourself?

The opening thread talks about higher tariffs. I don't think I read anything pertaining to restriction. Is this post for this thread?
Re: FG Raises Import Duties On Luxury Goods, Food Items That Have Local Alternatives by idupaul: 9:37am On Jan 03, 2017
Toketimt:


Ur laziness is epic. Simple Google Search would have prevented me from attending to this eediocy. U requested for one, I will give u more.
Glaxosmith...... Is producing in Nigeria and av Nigerian staffs.
Swipha Swiss pharma Nigeria
Biofem etc.

Mumu Glaxo trades only one brand of antimalarial in Nigeria called Colart and it's is made in India , Swipha trades Swidar, Arenas and my friend it's not made here, Biofem doesn't have a single antimalarial ,their star drug is called Glucophage and it's even imported ...mumu please what antimalarial are you and your uncles producing in Nigeria

2 Likes

Re: FG Raises Import Duties On Luxury Goods, Food Items That Have Local Alternatives by Toketimt: 9:39am On Jan 03, 2017
AdeniyiA:


My point is this,you do not empty the drums because the cloud thunders for it might not rain afterwards...undecided

On the contrary, the govt is simply bringing in more drums because if it eventually rains, we will have so much waters in our coffers.
Re: FG Raises Import Duties On Luxury Goods, Food Items That Have Local Alternatives by idupaul: 9:39am On Jan 03, 2017
Toketimt:


Eediota, I can't continue to spoonfeed u continously knowing fully well that u are very daft. Work on those names I gave and realize that u are nothing but a waste to ur generation.

Morona, you thinks you can just drop names and bamboozle me forgetting that I might have extensive knowledge of the Nigerian pharmaceutics market ...paid to post Idiat

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