Fair Trade Is A balanced Trade between Protectionism and Free Trade.

Is a trade that tries to protect local industries through protectionism as well as meet local demands through free trade.


United States has lost 87,000 industries to China due to free trade and that is why Trump cut down the tax rate to 15% from 35% and has introduced some import tariffs in order to bring back those industries back to US and give them minimum protection.


In Switzerland, they adopt a Fair Trade Tactics in which they only allow foreign products when they want to meet up local demand.

Example

If they need 1million eggs a day and they can only produce 500 thousand eggs daily, then they allow inflow of another 500 thousand at a rate not cheaper than local eggs.

If they need 1million chickens a day and they can produce 1 million chickens daily, they block their borders to foreign chickens so as to preserve their industries/jobs.


Unfortunately, Nigeria don't have a data on what quantity of products they need and what quantity they can produce in order to know what quantity to import in order to protect their local industries as well as meet their national demands.


If I am Buhari, what I will do for someone like Innoson, is to cut a deal with him that if he creates more well paid jobs for Nigerians and increase his exports in order to increase dollar inflow, I will tax exempt him in the following areas:

1) Export tax.

2) Electricity tax (You know that in Nigeria, industries pay PHCN for electricity they produce from their personal generators. This leads to a double electricity cost. )

With both taxes gone, Innoson will be able to export his vehicles at a cheaper rate to the African market.

What Nigeria needs to do, is to make available the following in order to increase jobs and dollar inflow:

1) Zero Export Tax.

2) Zero Electricity Bill For Companies That Generates Their Own Electricity In Order To Avoid Multiple Electricity Bills.

3) Tax rate not above 5%.

4) Interest rate not above 10%.

5) Zero Import Tax for Capital Goods example Machineries.

6) Zero Import Tax for Raw Materials that can not be found in Nigeria eg Barley for Brewery industries, Sulphur for detergent industries.


If these 6 things are implemented, many foreign industries will site their bases in Nigeria and Nigeria will see herself transformed into a wealthy nation.



Sarrki and Madridguy, copy and send this to your illiterate President to apply if he wants to transform Nigeria to an economic power house.


Unfortunately it is too late as I see Nigeria becoming another Yugoslavia



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



Watch How US Lost 87,000 Industries To China Due To FreeTrade

STOP POSTING NONSENSE YOU ARE NOT A BIAFRAN

mbos:
STOP POSTING NONSENSE YOU ARE NOT A BIAFRAN

The topic is meant for intelligent and not ignorant people like youbthat can not understand how an economy should work.