lekidating:
It's not our business, these bloody peasants that enjoy treating Nigerians like dirt...anyways it's an economic measure, all nations are fighting for self nowadays...rise of nationalism.

It is Nigerians treating Nigerians like dirt. Why do you think a Nigerian importer would choose to import his goods via a neighboring country for his business in Nigeria?

aribs:


it actually depends on which economist you listen to. Some did support Trump's position. Agreed both Nigeria and Benin owed a responsibility for the policing of the borders but that does not mean they should shirk their responsibility either. As i stated also, we run a budget deficit, lowering tax rates is not , in my opinion , something we can afford to do at this moment. single digit lons are a mirage considering the high inflationary environment and other factors. as for the US - Mexico one , i do not agree with those numbers.

There is a big difference between lowering tax rates and lowering taxes.

Nigeria's corporate tax rate is 30% but who pays it? Probably less than 1% of registered companies pay the real figure. It was estimated in 1990 that it was primarily public quoted companies and a few others that actually paid the full rate. Probably no more than 0.1% of registered companies.

What matters is not the tax rate but the base. India found out that the more it reduced taxes, the higher the revenue collected. Taxpayers were more complaint. A tax rate of 12% will not only increase the level of compliance but will drive massive investments. It works like magic.It is trans-formative.

Inflation rates are high because of the Naira substitution policy. Please read up Henry Boyo's articles on the Naira substitution policy. Basically, substitution of the oil revenues into Naira and then paid out as monthly to the 3 tiers of government leads to a spike in inflation. That spike in inflation is now mopped up using costly TBills which lead to high commercial banking rates.

Let us say the monthly revenue is $2b, government will pay out 730b, or if $3b, that is N1.095 trillion. When this money enters into the system , it leads to excess money in the system which the CBN has to mop up using bonds.

Nigeria shouldn't have had a problem with high inflation for years because its budget deficit was barely 2% of GDP. This figure is associated with sinle digit inflation. The Naira substitution policy was skewing the system.

Henry Boyo said instead of paying them in Naira, use Dollar certificates instead and they can redeem the Naira value at commercial banks. These will lead to dollars changing Naira and will cause the Naira to strengthen greatly. But most importantly, because there is no more spike in inflation and to prevent the Naira from becoming too strong, a looser monetary policy which will lead to lending rates reducing and with time hitting single digits

Soludo wanted to end it but Yaradua stopped him 2007 or so.

realstars:
4+4 Buhari's next level of hunger is loading... This time he will make it across the whole west African nations in the next four years, after signing agreement with the neighboring countries. This is just the beginning of the next level things.

Shame on you
Theres hunger because your heroes had exported our jobs to Thailand and Brazil, now a government is bringing back our jobs you are crying..... Our farmers are happy to grow crops now because they know this government will not patronize smugglers at their own expense.
Ask your self how can Benin be the 6th largest importer of rice in the whole world?

alphaNomega:


It is Nigerians treating Nigerians like dirt. Why do you think a Nigerian importer would choose to import his goods via a neighboring country for his business in Nigeria?

Bleep them Benin republic people, our country should take advantage of them, tax goods coming in from there heavily.

krypto100:
Buhari the Trump of Daura


We opened verified WeChat and Alipay Wallet

You're a bad business guy. Learn how to relate next time. Ire oo

realstars:
4+4 Buhari's next level of hunger is loading... This time he will make it across the whole west African nations in the next four years, after signing agreement with the neighboring countries. This is just the beginning of the next level things.

this one doesn't have sense at all, your hatred for buhari is beclouding your sense of reasoning. It is people like u that will always complain of bad road, electricity and economy and he is doing something reasonable you can't talk positive from ur dirty mouth. HATE KILLS SHEY YOU KNOW.

Duggedised12:
The free trade between these countries is a parasitic one with Nigeria loosing on both ends ,with our smuggled fuel and their rice being smuggled in.

However ,the bolded is my only problem with this whole border closure.First world countries practice protectionism but usually make sure their local production is up to the task of filling the void in areas where they are raising punitive tarriffs.In some countries its even flexible e.g when it is harvest season ,tarriffs on important for such produce goes up to discourage importation of such goods.But that wont happen with the smuggling which is the main problem .



In a country where we still have herders and farmers clash one would think that will be the top priority of the govt by being transparent in solving this crisis but they went to bring ruga.

Their rice? Do you know some Nigerians import said rice through those countries? Your government refused to make the clearing process easier for imports and even banned the item, yet we do not have the capacity to produce enough grains for consumption

alphaNomega:


Drop the hate! The largest farms in Nigeria are owned by Northerners/politicians and they are trying to arm twist the economy to ensure we patronise their farms even when it is obvious the quality and quantity is not sustainable.

We are lucky Dangote or any powerful Northerner is not in the busines of automobile assembly, Nigeria would have banned vehicle imports totally and forced us to use whatever death machine they fabricate.

Na you get the gist,it is never in the overall interest of the country,same way he did with foreign exchange,which is also an area they dominate,they will now disguise it as national interest and our southern mumu and their intellectuals,will now look for how to justify if
May God open the southern mumu eye like he has opened yours , for them to know that the country belongs to all of us and we must partake equally

wisewordd:
If we don't have sustainable alternative, I don't see the need for the border closure. Meanwhile, people that closed the border are eaten foreign food, buying expensive foreign clothes, children live abroad, using foreign hospital, and the list goes on. Question, who is deceiving who?

that is when you get abroad but when u are in Nigeria patronise Nigeria to grow Nigeria don't be an hypocrite, thing that are produced here are been imported from the neighbouring countries and buhari decided to close the border to encourage our local producer u still are not satisfied.
what exactly do you want from him?

chinchum:
On what basis are you saying we are not good at farming Rice. Rice is about the most consumed food commodity in Nigeria, and you feel we suck at it and should continue importing with thrillions of Naira annually.

Nigeria should have no business importing refined petroleum products as one of the largest producers of oil in the world, but the irony is systemic decay and failure of successive administrations has turned us to one of the largest importers of refined petroleum products. I believe we can achieve an end to importation of refined products by 2021 as Dangote refinery comes on stream. Government can decide to take off subsidy. I agree Subsidy should go, and i recommend Govt. should wait till we can refine enough for local consumption before implementing that, this is mainly because the Dangote refinery, the largest in africa is designed to turn Nigeria to an exporter of Petroleum product.

Why wait for Dangote to build a fuccking refinery? What happened to the hundreds of modular illegal refineries in the Niger Delta? Why not legalise them, regulate them, and support them to grow and compete at the international market?

If these guys had half the government support Dangote is getting for this his so-called refinery, by now we would have been exporting locally refined petroleum products.

Fariq:
http://ob360media.com/africa/benin-republic-laments-nigerian-border-closure?fbclid=IwAR3hVjbCafy3TfQLnKNmmyXFkX-qSlUi4vXh8czSO5jeRyLaYcNo1Hj64Xg



Mynd44 Lalasticlala

then, they need to wake up to international grounds outside africa. good thing they have ports. there can engage in intercontinental trades. they should forget nigeria o.

alphaNomega:


Their rice? Do you know some Nigerians import said rice through those countries? Your government refused to make the clearing process easier for imports and even banned the item, yet we do not have the capacity to produce enough grains for consumption

we cannot because we have Nigerian collaborators not wield the big stick. These same Nigerians are part of the rot in the system ,so their feelings do not matter in this debate.

We have a problem at hand, now what do we do?
Protectionism didnt just start today, its not like oh Nigeria is the first to start it. The way forward that will be beneficial to the country is what we should. Yes no country is self sufficient and countries only increase punitive tarrifs on goods they are self sufficient at and relax on areas they are not but this particular case is not your typical text book . You can only put punitive tarrif when there is a proper channel of importation which is the area we should be looking at to resolve this once and for all.

docadams:
The breaking point hasn't arrived yet. The farmers have unfortunately become collateral damage in this David vs Goliath fight. Nigeria should tighten the screw further till the governments of Niger & Benin republics come to their senses and choose between providing safe havens for smugglers/economic saboteurs or looking inwards and encourage its indigenous economic activities that will yield products not subject to ban.
It is not easy to be the 6th largest importer of rice in the world. Question is to whose advantage/disadvantage.

should thosē guys find alternatives, nigeria will bë deeply affected cos nothing affordable wìll comë tru that border anymore

saajus:
I still believe our long term solution is to remove the subsidy. I know this will be painful and the Poor will suffer it more. Why should Davido, Otedola and Dangote be fueling their cars with subsidized fuel. They are rich enough to pay for non-subsidized fuel. Govt should create a Tax return system. Everybody will pay for non-subsidized fuel and by the end of the year when we show our annual income, the Govt will refund some money to low income earners that deserve subsidy.

mmm.... You made sense but how will the low income earners survive till the end of the year?

Rubicon67:


Insensitive is when they let their border to be wilfully porous without considering the negative effect it was having on Nigeria's economy.

I think it is a wonderful move by the government as it will spur more local and foreign direct investments in agriculture and other sectors, and subsequently provide more employment opportunities for our citizens.

What do you mean by porous border? What is the purpose of ECOWAS?

Sadly, your second paragraph is a pipe dream.

virago:



You're the one who needs understanding before talking

Seriously you need to understand things before you talk. I bet you never read up the agreement that ensured only Nigeria builds a dam on River Niger and supplies the neighboring countries so they don't have to build their own dams.

If they do that, any dam Nigeria builds on that river will be useless. To put it into perspective such a dam at full capacity will not be able to power one-third of Lagos.

alphaNomega:


Exactly!!!! This is why I would rather send my goods through Cotonou than the godforsaken Nigerian ports. We had an easier clearing system before evil and greedy customs officers in collaboration with politicians made it all shít. Today we are blaming little Togo and Niger republic.

This problem did not start today and I have tears in my eyes as Nigerians are applauding this as the best decision this government has taken this year!

It will cost you more money to move your goods from Lagos ports to the SouthEast than it would cost you to bring same goods from Netherlands to Lagos. Nigerians hate themselves so much.

yes you are very correct Nigerians hate themselves so much,they are always very eager to support any evil against them and they will even justify it,be it bad leaders or bad policies
I wonder why they are like that

The miserable old buzzard wants to end everyone! And not just across the border traders

alen4smith:
you need brain transplant ASAP

Listen, he has a point. It will not be obvious now the same way Nigeria did not anticipate this smuggler crisis when they were banning everything a few years ago.

ornicus:


Your importer class of Nigerian could not care less about anything other than thieir own money.

Do they add any value to this country? They are just greedy self serving hustlers.

At least the Nigerian government gets her duties instead of it ending up in Benin and Niger governments

surgical:
yes you are very correct Nigerians hate themselves so much,they are always very eager to support any evil against them and they will even justify it,be it bad leaders or bad policies
I wonder why they are like that

Check my signature for your answer.

100% in support. Niger and Benin Republic governments should stop smuggling to Nigeria first. Buhari, if they dont, lock it till you leave power. And Osinbajo should continue locking it till their brain is fine tuned. These are the real enemies of progress for Nigeria. And they are the first to point accusing fingers to Nigeria as a corrupt nation. They used to brag they can do without Nigeria like South Africa. But when Nigeria makes her move, they start shedding crocodile tears. Just look at South Africa too. Even Ghana should feel it if they say nonsense. Of course, Nigeria is the giant of Africa. So, we can see now. It's only a weak president like Jonathan that makes us look weak. Baba, lock the borders with brass. 100% in support.

Rubicon67:


I disagree with you. And I am sure that you have heard the term 'no pain, no gain'. If we are to move forward economically as a nation, measures like these needs to be put in place.

You mentioned the upper class. What is the population of those that can afford foreign products and services compared to the rest that cannot? Who will benefit more since the border closure is already seeing a surge in local production of agricultural produce etc?

If we are to chart a different course economically, we need to be ready to roll up our sleeves and do the needful.

Today will always pass, tomorrow will always come.

Lol, in Nigeria it is "all pain, no gain"

ikorodureporta:
I'm wondering what our customs officers have been doing there

The golden question nobody ever asks!!!!

Anyway, they will make more money now as they will charge smugglers higher fees this time in order to let goods through.

Area4Area:
At least the Nigerian government gets her duties instead of it ending up in Benin and Niger governments

Thank you jare. economic traitors with allegiance to the revenue of foreign governments

urose93:


Good riddance. God is already punishing them for trooping enmass into Nigeria in 2015 to vote in a more clueless and evil government in human history.
What king of a family head will stop his wife from going to the market even when there is no little foodstuffs in the house.

I like how you put it

“President Buhari should be a little bit afraid of God,” said Henry Assogba
Just imagine!! Una kill us small small and still invoking God.
Una dey maaaad!!!

These people are really parasites! The damage they've been doing to our economy "No Be Small Thing o" !

mizmia:
Are we talking about the same America that is building a wall at its border with Mexico?

Did they close the border or they are tightening security which Nigeria we like blame should
Be doing, trump for close border na .

dumo1:

I swear oga you sabi wella. When you get to Nigeria pot hole will remind you that you have arrived Nigeria and the hate will just flood in. Anyway you can't compare small Togo and Benin with Nigeria. Lagos alone is bigger than these countries.

Is china not big??, you forget Lagos GDP alone big pass this countries, if you have enough, then fix things

alphaNomega:


Does Dangote not import his own cement, rebag them in "Dangote" sacks and want to sell to them at higher cost? Why would they buy foreign cement from you at an expensive rate when another country has a trade agreement that offers them cheaper rates?

Dangote doesn't import cement.... Cement is the easiest thing for Dangote to produce

Earthquake1:
Nigerian youths don't know anything about this because this is not Tacha

Walahi.

Just because you hate buhari most of you don't see anything good that he dose..... If you travle a lot to these borders the kind of arms that pass through there is UN imaginable infact i heard most arms use by bokoharam pass through these 2 borders and pls forget custom we all know thier are bad eggs amkng them that will look the other way once they get bribe and it is so in every where in the world name it US and Mexico etc