what happened to the celebrated yuan naira deal that eas supposed to crash the dollar price hahahaha

flyca:
What happened to the almighty deal the failure master travelled with his leeching entourage to sign sometime ago?

1RMB used to be N32 - N36 under GEJ. Now if you get it for N75 you are lucky

Fight corruption my aass

Alas! from d onset i knew feeble minds lyk u would neva c ds as a positive development to nigerian economy. U always c it differently. No credible opposition at federal, state, and local tiers. Na for nairaland e bad sef

woodcook:
What foreign investors fear most is not being able to repatriate profits as at when do and this is the biggest undoing of the present administration.

Maybe if you miraculously create forex in the central bank's reserves, then the present administration wouldnt have a hard time providing forex to foreign investors to repatriate their profits.

Phonefanatic:
I'm beginning to think Buhari intentionally ran away due to overwhelming problems he created.

He is now watching us on the TV like

Lol that's quite funny

Truth234:
The trade relations between Nigeria and China declined in 2016 to a record low, according to the Chinese Ambassador to Nigeria, Zhou Pingjian.

According to the Ambassador, Nigeria-China trade relations was $15 billion in 2015, but has since dropped to $3.1 billion in 2016. Pushing Nigeria down to fourth position from the second largest Africa-China trade partner.

Pingjian, who visited the House of Representatives Committee on Nigeria-China Relations said “Nigeria-China trade is declining fast. Nigeria used to be China’s number two trade partner in Africa, but it’s now number four.”

He however expressed confidence that the situation can be improved upon with focus and implementation of policy agreements reached by the two countries and commended Nigeria for supporting the ‘One China Policy’. “We need to follow up on the outcomes of the Forum of China-Africa Cooperation summit and President Muhammad Buhari’s state visit to China in April last year”, he said.

The ambassador disclosed that one of the fall-outs of the president’s visit was the construction of the Agricultural Training Centre in Bwari, Abuja by CGCOC to assist Nigeria’s diversification efforts.

Pingjian said with over $139 billion Foreign Direct Investment, China is interested and ready to expand investment in Nigeria and urged the government to create enabling environment for investors to come in.

“As Chinese ambassador to Nigeria, I wish a small part of the $139 billion could come to Nigeria”, he said, adding that as an ambassador he was willing to facilitate it.

Pingjian reiterated China’s commitment to Nigeria’s economic revival and as well as readiness to support the nation’s economic diversification efforts.

Similarly, CGCOC Group Managing Director, Ye Shuijin who called for improved security in the country, noted that Chinese firms in Nigeria were ready to make greater contribution to the socio-economic development of the country.

Shuijin, who also doubled as Chairman of the China Chamber of Commerce in Nigeria expressed the need for the establishment of a Strategic Master Plan by Nigeria and China to fast track industrialisation of the country.

“We have more than 20 industrial zones in Nigeria, we have funds abroad that can be brought into Nigeria for investment but it has to be strategically done”, he said.

The MD disclosed that in 2008 CGCOC ventured into mechanised farming in Wara, Kebbi State and today the company is one of the leading producers of rice accounting for about 50 per cent of rice production in Nigeria.

http://investorsking.com/nigeria-china-trade-declines-79-2016/

SIlly, why wont it decline, when you guys make it vertually impossible for Nigerians to go and trade in Chima without spending arm and leg.Make it easy in such a way that once I have my cash I can get my Biz Visa to go and do my Biz and come back,why do I need an invite from a coy in china to get your Biz viz from Nigeria

AntiWailer:
I dnt get it.

Is it that we have stopped importing tooth pick and other useless things ?

There was never a trade balance so if the trade decline that much, it might be good for the economy.

I am going to take you up on tooth pick,Im fed up with the likes of you accusing people of importing tooth pick, do you know howmuch it cost to produce one can of toothpick? do you know the investment needed?
do you know you need up to 5 machines to produce one strand of tootch pick? each of these machine will cost you minn N500K?
do you think this is funny

Bevista:
Unfortunately, this does not tell the whole story. I would like to know the Import and Export component of such trade. If trade has gone down because Nigerians are IMPORTING less from China now and beginning to look inwards for self-sufficiency, then I think it is a positive rather than negative.
---
If the Chinese wants more trade, let them send money this way.

Nah it might also mean we have found more cheaper and less stressful countries to do biz with, ie Turkey,Malaysia and India

woodcook:
What foreign investors fear most is not being able to repatriate profits as at when do and this is the biggest undoing of the present administration.

yep and thats waht is happening in Nigeria, forex scarce

erico2k2:

I am going to take you up on tooth pick,Im fed up with the likes of you accusing people of importing tooth pick, do you know howmuch it cost to produce one can of toothpick? do you know the investment needed?
do you know you need up to 5 machines to produce one strand of tootch pick? each of these machine will cost you minn N500K?
do you think this is funny

So importing tooth pick is good for the economy ?

Don't worry. import everything and expect miracle.

Source another millions of dollar FX to bring in tooth pick. When Naira becomes 1thousand to a dollar, you will wake up.

Min of 500k is chicken change if all the money The likes of Fayose and co stole is invested in that space. we are talking about less pressure on the dollar, more jobs etc.

AntiWailer:


So importing tooth pick is good for the economy ?

Don't worry. import everything and expect miracle.

Source another millions of dollar FX to bring in tooth pick. When Naira becomes 1thousand to a dollar, you will wake up.

Min of 500k is chicken change if all the money The likes of Fayose and co stole is invested in that space. we are talking about less pressure on the dollar, more jobs etc.

well Im steering you to think out of the box, the reasons the FG is giving us a cause of shortage for forex ad mare hoax
if you invest N10M just to produce tooth pick, how many years do you think you will brake even? and you will end up selling one pack for N5k who will buy it? dont this tell you we should allow market forces to dictate for us instead of applying science where there is no science?

erico2k2:

I am going to take you up on tooth pick,Im fed up with the likes of you accusing people of importing tooth pick, do you know howmuch it cost to produce one can of toothpick? do you know the investment needed?
do you know you need up to 5 machines to produce one strand of tootch pick? each of these machine will cost you minn N500K?
do you think this is funny

Mr Man, stop misleading people. Check youtube and see for yourself how toothpick is made. It's a very simple process. I don't know the 5 machines you are talking about. Just looking for some bloody excuse.

erico2k2:

well Im steering you to think out of the box, the reasons the FG is giving us a cause of shortage for forex ad mare hoax
if you invest N10M just to produce tooth pick, how many years do you think you will brake even? and you will end up selling one pack for N5k who will buy it? dont this tell you we should allow market forces to dictate for us instead of applying science where there is no science?

Nope. Ironically, thinking out of the box should mean alternative to IMPORT.

There should be embargo on some importation.

If there was no policy to stop importation of cement back then, cement will be one of the things we spend dollar on.

It as initially expensive but how much is a bag of Cement now ?

Dangote is even in other African countries already with the same cement from here.

You cnt open your border for every nonsense to be imported and not hope to have dollar shortage some day.

it is not science it is actually common sense if one understand the basics.

For argument sake,

if we make 200 billion dollars from selling oil every month and we need 250 billion dollars to import everything including something as ridiculous as tooth pick, you dnt have to be a professor to know the impact of the dollar deficit in the economy.

that's both Good and Bad..

Phonefanatic:
I'm beginning to think Buhari intentionally ran away due to overwhelming problems he created.

He is now watching us on the TV like

Even the monkies in the bush are feeling the hardship and problems that buhari has created of this in this country, may God helps us.

Phonefanatic:


Let's be producing with which electricity?
You produce and export to who? You think these developed country will buy from you?

They don't buy from us, we shouldn't buy from them. Do me I do you......

SATOH:


Mr Man, stop misleading people. Check youtube and see for yourself how toothpick is made. It's a very simple process. I don't know the 5 machines you are talking about. Just looking for some bloody excuse.

Plz send me the link, Im waiting before i tell you waht I really think of you, go on then
GO ON

AntiWailer:


Nope. Ironically, thinking out of the box should mean alternative to IMPORT.

There should be embargo on some importation.

If there was no policy to stop importation of cement back then, cement will be one of the things we spend dollar on.

It as initially expensive but how much is a bag of Cement now ?

Dangote is even in other African countries already with the same cement from here.

You cnt open your border for every nonsense to be imported and not hope to have dollar shortage some day.

it is not science it is actually common sense if one understand the basics.

For argument sake,

if we make 200 billion dollars from selling oil every month and we need 250 billion dollars to import everything including something as ridiculous as tooth pick, you dnt have to be a professor to know the impact of the dollar deficit in the economy.

Plz answer your own question, HOWMUCH IS BAG OF CEMENT NOW
JUST SO YOU KNOW.%80 of fruet and verg get imported into the UK.tootpick is imported too. the ones made in teh Uk are more expenssive than teh ones imported

erico2k2:

Plz answer your own question, HOWMUCH IS BAG OF CEMENT NOW
JUST SO YOU KNOW.%80 of fruet and verg get imported into the UK.tootpick is imported too. the ones made in teh Uk are more expenssive than teh ones imported

import and export argument is a no brainer that needs no stressing.


When you compare UK importing tooth pick to Nigeria, i actually wonder.

Apart from crude oil, can you point our major source of Forex ? but u want to compare with UK that export.

The top exports of the United Kingdom are Cars, Gold, Crude Petroleum, Refined Petroleum and Packaged Medicaments etc. in tens of billions of dollars.

anonymuz:
why is Nigeria going down under buhari's regime...i just taya

. with what you just wrote it means you have no sense

erico2k2:

Plz send me the link, Im waiting before i tell you waht I really think of you, go on then
GO ON

Take your lazy a$s to youtube and type "how to make toothpick". Nowadays nobody want to make research on their own.

AntiWailer:


import and export argument is a no brainer that needs no stressing.


When you compare UK importing tooth pick to Nigeria, i actually wonder.

Apart from crude oil, can you point our major source of Forex ? but u want to compare with UK that export.

The top exports of the United Kingdom are Cars, Gold, Crude Petroleum, Refined Petroleum and Packaged Medicaments etc. in tens of billions of dollars.

wrong, you got it all wrong,
the major export of the UK are
1. Financial Services
2 Arms.
3 Medicine.
they Import Oil, cos fracking is now expensive, we actually import more Europe cars .cars are not exported as much as %5,
WHERE YOU MAKE THING IS LESS IMPORTANT THAN WHERE YOU CONSUME THINGS, cos thats where you make the money.

KealDrogo:
Why wouldn't it decline when some big bully mod is here misusing his powers as a moderator
I know you are reading this right now! A big shame on you, you are a total let down. You should be ashamed of yourself. You can't bully me I'm not afraid of you...

Talk ur mind, I know yu have something terrible to say.stop crying like a baby. Curse if you like

cardoctor:
Better. Lets start producing our own. Im tired of seeing made in china everywhere i turn.

Start producing wat if I may ask? The cars innoson is making; how many of our parents buy it? And u don't know innoson also needs China to survive for its raw materials. So either ways u need them. If u think am lying; ask USA if they don't need China.

erico2k2:

wrong, you got it all wrong,
the major export of the UK are
1. Financial Services
2 Arms.
3 Medicine.
they Import Oil, cos fracking is now expensive, we actually import more Europe cars .cars are not exported as much as %5,
WHERE YOU MAKE THING IS LESS IMPORTANT THAN WHERE YOU CONSUME THINGS, cos thats where you make the money.

when you are done, go and read.

http://atlas.media.mit.edu/en/profile/country/gbr/

The top exports of the United Kingdom are Cars ($46B), Gold ($37.4B), Crude Petroleum ($23.1B), Refined Petroleum ($22.1B) and Packaged Medicaments ($19.6B)

Stop this argument supporting importation of tooth pick. It makes u sound like an illiterate in basic economics.

ceo12:
. with what you just wrote it means you have no sense

please tell us how our decline in trade wiv China benefits us.

SATOH:


Take your lazy a$s to youtube and type "how to make toothpick". Nowadays nobody want to make research on their own.

DOnt get rude, I have already spent more than N15 million of my money building a toothpick production line, lazzy YOUTHS like you who can not wipe thier backside will come here and type rubbish, you dont even have a clue
look here this is your so called you-tube, there are SEVEN MACHINES HERE in this factory,DONT YOU NOW LOOK EXTREMELY STUPID

This is the wood toothpick machine Automated (cost 39 Million to install last year)

https://www.youtube.com/watch?v=rP_7FIpPFEQ


and this is the bamboo toothpick series Im investing into, its cheaper cost min 17-20 Million naira to install.

https://www.youtube.com/watch?v=o_nPzMt0KW4

AND

https://www.youtube.com/watch?v=CEPNcl531sc

NOW DONT YOU FEEL STUPID

AntiWailer:


when you are done, go and read.

http://atlas.media.mit.edu/en/profile/country/gbr/



Stop this argument supporting importation of tooth pick. It makes u sound like an illiterate in basic economics.

take a look at this
https://www.youtube.com/watch?v=o_nPzMt0KW4
That alone is costing me roughly 18 to 20 million to set up in PH cos bamboo is almost free there.Now tell howlong would it take me to brake even selling at N200 a pack?? As you can see, Im not just talking Im actually putting my money where my mouth is.So from a Business point of view cant you see how this is dificult?if I invest my N20M in importing , I get to make more money

.

AntiWailer:
I dnt get it.

Is it that we have stopped importing tooth pick and other useless things ?

There was never a trade balance so if the trade decline that much, it might be good for the economy.

Is it tooth picks that accounted for the 12 billion dollar difference. Don't be silly.

Reference:


Is it tooth picks that accounted for the 12 billion dollar difference. Don't be silly.

May be u have problem with comprehension. Go and read again before ur stupid quote.

Reference:


Is it tooth picks that accounted for the 12 billion dollar difference. Don't be silly.

May be u have problem with comprehension. Go and read again before u quote me.