omohayek:
Why does Nigerian journalism have such a horrible bias in favor of producers? Imports may hurt the less efficient farmers who can't compete on price or quality, but any harm they impose for farmers is more than outweighed by the benefits they bring to consumers in the form of cheaper and higher-quality produce, a fact one learns in any beginner economics class, even in Nigerian secondary schools - I know because that's where I learned it myself.

The idea that economic development is based on doing everything within one's own borders is utterly ridiculous, making as much sense as suggesting we would all be better off if we individually made our own clothes and grew our own food in little backyard plots, instead of getting highly-skilled jobs and simply buying what we need in supermarkets and clothing stores. It's time Nigeria did away with all this import-restriction nonsense and opted instead for creating an enabling environment for businesses to thrive on their own merits - one with low corruption, reasonable taxes, regulatory clarity and few bureaucratic hurdles. Import controls to benefit favored groups work against all of these goals.

Carlyscales:
Clueless leaders that kept pumping much money to a section of the country for agriculture, due to nepotistic sentiments.
Without any proper agricultural economic blueprint to harness n access raw materials market globally. Without proper regulations on raw materials n food importation.

Today everyone is farming in d north n producing grains. Hence the glot and a bag of maize selling as low as 4k n beans 8k.
So the circle of poverty continues

tonyimadu:
From the US to Europe and the rest of the world, governments protect their farmers. Protecting the farmers over importers ensures that the nation's food security is maintained.
It's sensible to grow your nations agriculture than improving that of another country.
The ministries involved should work more intelligently in protecting the farmers and boosting growth

Carlyscales:
Clueless leaders that kept pumping much money to a section of the country for agriculture, due to nepotistic sentiments.
Without any proper agricultural economic blueprint to harness n access raw materials market globally. Without proper regulations on raw materials n food importation.

Today everyone is farming in d north n producing grains. Hence the glot and a bag of maize selling as low as 4k n beans 8k.
So the circle of poverty continues

omohayek:
Why does Nigerian journalism have such a horrible bias in favor of producers? Imports may hurt the less efficient farmers who can't compete on price or quality, but any harm they impose for farmers is more than outweighed by the benefits they bring to consumers in the form of cheaper and higher-quality produce, a fact one learns in any beginner economics class, even in Nigerian secondary schools - I know because that's where I learned it myself.

The idea that economic development is based on doing everything within one's own borders is utterly ridiculous, making as much sense as suggesting we would all be better off if we individually made our own clothes and grew our own food in little backyard plots, instead of getting highly-skilled jobs and simply buying what we need in supermarkets and clothing stores. It's time Nigeria did away with all this import-restriction nonsense and opted instead for creating an enabling environment for businesses to thrive on their own merits - one with low corruption, reasonable taxes, regulatory clarity and few bureaucratic hurdles. Import controls to benefit favored groups work against all of these goals.

yemre:
I'm very surprised at this particular post. Why is it that we can not encourage efficient local production that will compete favourably in quality and prices with foreign goods? That step alone is enough to discourage importation. Importers in the first place were licensed as a result of production deficit which has made the product really expensive with its attendant multiplier effects on the prices of other commodities in that line (eggs & other related products incl).
Now, farmers are crying again that importation has brought down the costs.
If local production will continue to result in high prices of goods in this country (as the case with rice) even after the cost of importation incurred by the importers, I think it's better we scrap local production and encourage importation for the benefits of the citizenry.

My honest opinion.

Carlyscales:
Clueless leaders that kept pumping much money to a section of the country for agriculture, due to nepotistic sentiments.
Without any proper agricultural economic blueprint to harness n access raw materials market globally. Without proper regulations on raw materials n food importation.

Today everyone is farming in d north n producing grains. Hence the glot and a bag of maize selling as low as 4k n beans 8k.
So the circle of poverty continues

haryomikun:

Your first paragraph made sense. The second,,,, not as much.

Import controls help economic growth in particular (economic development). It helps with balance of payment deficit, something Nigeria and other West African countries are really suffering from.

Import controls don't serve to make citizens mean produce stuff in their own backyards. That's an exaggeration. The more there are firms available for exports in Nigeria, the more unemployment drops. GDP also increases, balance of payment shifts towards equilibrium, terms of trade possibly improve and so on.

haryomikun:

Your first paragraph made sense. The second,,,, not as much.

Import controls help economic growth in particular (economic development). It helps with balance of payment deficit, something Nigeria and other West African countries are really suffering from.

Import controls don't serve to make citizens mean produce stuff in their own backyards. That's an exaggeration. The more there are firms available for exports in Nigeria, the more unemployment drops. GDP also increases, balance of payment shifts towards equilibrium, terms of trade possibly improve and so on.

haryomikun:

Your first paragraph made sense. The second,,,, not as much.

Import controls help economic growth in particular (economic development). It helps with balance of payment deficit, something Nigeria and other West African countries are really suffering from.

Import controls don't serve to make citizens mean produce stuff in their own backyards. That's an exaggeration. The more there are firms available for exports in Nigeria, the more unemployment drops. GDP also increases, balance of payment shifts towards equilibrium, terms of trade possibly improve and so on.

urahara:


If every country used import controls , who then would we export to ?

omohayek:

Your claims about import controls helping growth fly in the face of decades of econometric research, not to speak of Nigeria’s own experience. Didn’t you type your response on an imported phone, and send it over a network built with imported telecoms equipment, which was paid for with imported capital? How likely is it you could have done the same in the “good old days” when foreign investment was barred and NITEL ran the show?

If you’re going to try to sell me your mercantilist reasoning, you’re going to have to provide hard evidence in support of your claims, in the form of peer-reviewed research or at minimum publications by relevant organisations of high repute for their economic analysis. Anything else is just so much hot air that only amounts to “it’s true because I say so”.

urahara:


See this nigga , since when did Nigeria start suffering b.o.p deficit , we export more than we import bra.

haryomikun:

My good sir, I think you misunderstand the meaning of 'import controls'. What it means isn't a ban of imported goods. It simply means restrictions on the number of goods imported either by using monetary policy in the form of import tariffs or import quotas.

Every country uses import controls, except they're in trading blocs like the EU, which encourage free trade. The custom duty you pay on your imported vehicles is an example of import control.

If I had to explain how import controls help an economy, I'd type for a long while. I'll find sources now that prove import controls help an economy grow.

https://www.investopedia.com/ask/answers/041715/what-are-common-reasons-governments-implement-tariffs.asp

You can read this in your free time.

oz4real83:
where is the glut? Do u know how expensive maize is? A very small cob in Benin city is N50. We don't produce enough. The first evidence of excess supply is price drop but it is even more expensive now than last and previous years. Poor distribution is also a factor though.