This one sweet me wella ..if u see how those foreigners take they enter our bush self u go shock.....

I'm calling Electrical Tomatoes on this!

Why can I not sell what I grow to whomever I find to buy it?

If a foreigner wants to pay more for what I grow why should I not sell it to them?

This is a blatant attempt to set prices and corner the market and will result in starvation because they will pay me less than it cost me to grow and I will not grow anymore!

Parachoko:
Good one

Nigerian agents will quickly buy it at the farm to cut cost of transportation.

But you know that the Nigerian agents are shylock that frustrates the effort of the farmer? They will price you down sotey tears go commot for your eyes bcus they felt that you have no other options to sell your perishable goods and then resale at cut throat price to the retailers thereby making huge gains more than the farmers and the goods unaffordable for the masses. And no adequate preservation arrangements are on ground for the farmers. See they better allow the foreigners oo/retailers to go to any farm gate of their choice, let's eliminate these sadists middlemen...

Sanchez01:

NO!

Here's how it works: A farmer's produce is worth N2,500, foreigners buy for N10,000 to ward off local competitors. Farmer is happy and then goes home believing he has made some good profit.

Originally, the unit price of the produce should be N5 per produce but since foreigners own the produce now, they set the price to N40 per produce, making an insane profit of N35 per produce. But it doesn't stop there. The foreigners price will always create a ripple effect:

1. Wholesalers buy from foreigners and add their profit to the N40 produce, say they add N2 and sell for N42 per produce to retailers.
2. Retailers then add their profit (say N2-3) as well and sell for N44-N45 to final consumers.
3. The same farmer who was paid N10,000 originally will now discover that his money is useless because a ripple effect has taken place and affected other market commodities. He also joins others to complain about how bad Nigeria is without understanding that he is responsible.

The monopoly foreigners have on the market is unrivalled. And since local buyers buy at the farm gate, they do not have the balls to peg insane amounts on the produce bought at the farm gate.

What you are saying is what will happen.

Here's how it works.

Foreigners buy 10,000 from Adamu, Musa sees Adamu balling and decides to start producing.
Both the foreign buyers and locals can now buy because everyone is now producing.

Once upon a time, MTN sim card was 40,000 and calls were charged by the minute, Glo entered the market and prices have been on a downward trend since then.
Free market.

Who are these foreigners, fellow Africans or Europeans. Are they the ones responsible for the high costs of foods in the market?

So according to the this government the foreigners are to be blamed for the high cost of food stuffs in d country.

AZeD1:


What you are saying is what will happen.

Here's how it works.

Foreigners buy 10,000 from Adamu, Musa sees Adamu balling and decides to start producing.
Both the foreign buyers and locals can now buy because everyone is now producing.

Once upon a time, MTN sim card was 40,000 and calls were charged by the minute, Glo entered the market and prices have been on a downward trend since then.
Free market.

Have you ever been into a market where foreigners entered? If no, I have witnessed one. A foriegner from The Netherlands warded off competition totally and EVERY farmer (in this case, fish farmers) stopped selling to local buyers.

This is not actually a SIM CARD COMPARISON.

The reason is below. You’re the only one who made sense on that front page. At least you seek to know what was going on. Others just keep commenting rubbish without knowing the story behind.

Bobloco:
Can someone please share some light about this

At least try to understand the story behind the post you’re commenting rubbish on.

JUSTDREY:
Lol.... controling foreign purchasing power like that for gullible Nigerians where we know how it's been done but what about controling the price too or is that one beyond you. Scan nation!

djflexcy:
So what about if they go through the farmers to purchase it?

gaddafe:
So foreigners do buy directly from farmers before? Chai! This country Na cruise I swear.

Blitz888:
Knee-jerk reaction!

An outright ban is not enough... There should be a body of legislation that helps preserve our FOREX and punitive sanctions for defaulters!

Tightguy:
Where/what is farm gate please?

Sanchez01:
Here's how it works: A farmer's produce is worth N2,500, foreigners buy for N10,000 to ward off local competitors. Farmer is happy and then goes home believing he has made some good profit.
... details about profit margins ...

Originally, the unit price of the produce should be N5 per produce but since foreigners own the produce now, they set the price to N40 per produce, making an insane profit of N35 per produce. But it doesn't stop there. The foreigners price will always create a ripple effect:

The monopoly foreigners have on the market is unrivalled. And since local buyers buy at the farm gate, they do not have the balls to peg insane amounts on the produce bought at the farm gate.

1. what stops the local agents from selling on to the foreigner agents?
2. what stops any other local agent from making an insane profit of N35 per produce?
3. do foreigners command that price just because they are foreigners (and thus have better access to export markets?)
4. why isn't the market refusing to buy at that price? perhaps they are wary of dubious local agents?
5. local buyers with enough money can have the same knock on price effects you talked about - I don't think it's because they are foreigners.


If the claim is some agents are monopolizing the market and thus controlling prices unfairly, there's a lawsuit the gov't can bring on them.

To me, it's the same mindset that produced the current situation of not being able to receive money in Naira on remittances. Some people seem to see the logic in it, but I remain baffled as how that solves anything. Unless perhaps it forces local agents to up their game in exporting and commanding prices. Hopeful, but doubtful.

Sanchez01:

Have you ever been into a market where foreigners entered? If no, I have witnessed one. A foriegner from The Netherlands warded off competition totally and EVERY farmer (in this case, fish farmers) stopped selling to local buyers.

This is not actually a SIM CARD COMPARISON.

The answer is the produce more not say the Dutch buyer should not buy anymore.

If one person can buy all the produce in there market, it means you are not producing enough and the solution to not producing enough is to produce more.

What exactly is the role of the buying agent?

Anyway, when tomorrow you are told the only way to be a buying agent is to know a senator and a cabal has decided to hike the price of food do not complain.

This policy is as messed up as Closing our Land borders for a year. How can a Government be engaged in economic terrorism against their citizens.

The painful part is that the licence will be given to a cabal. Another painful part is that the cabal will buy it at a cheaper rate from the farmers and sell it back to the foreigners because the cabal neither have the financial muscle, the technical expertise nor the foreign markets to sell directly to.

Example of the foreign companies Olam and TGL. Excluding the various Chinese and Indian companies.

I pity the farmers the most, these foreigners changed their lives. Let's not forget some of these farmers settle Bandits before planting and harvesting (North).

Anyway it's not enforceable, our customs, police will look the other way a d these foreigners will continue buying through the back door. However, it will inceease the cost of doing business and thqt will reduce further the competitiveness of our products in the international market. Remember Ghana, Senegal, Ivory coast, Kenya, Rwanda, etc are watching and will accept these guys with open arms.

jomoh:
The reason is below. You’re the only one who made sense on that front page. At least you seek to know what was going on. Others just keep commenting rubbish without knowing the story behind.



At least try to understand the story behind the post you’re commenting rubbish on.

Mr Know it all... Running an economy on the executive fiat and FEC meeting resolutions would never ensure sustainability. Another government comes in an undo the executive order of the previous and the vicious cycle continues.
How about we put laws and legislations that will protect these farmers in the long run and punish culprits who will most likely reinvent themselves as nobody sits idle while their means of lively hood either legit or not is taken from them.
I maintain that the executive order is a knee-jerk reaction that is characteristics of this government.

How many of such executive orders have been thrown out in court as a futile and needless exercise.

You're the one who needs some schooling my friend.

jomoh:
The reason is below. You’re the only one who made sense on that front page. At least you seek to know what was going on. Others just keep commenting rubbish without knowing the story behind.



At least try to understand the story behind the post you’re commenting rubbish on.

Mr Know it all... Running an economy on the executive fiat and FEC meeting resolutions would never ensure sustainability. Another government comes in an undo the executive order of the previous and the vicious cycle continues.
How about we put laws and legislations that will protect these farmers in the long run and punish culprits who will most likely reinvent themselves as nobody sits idle while their means of lively hood either legit or not is taken from them.
I maintain that the executive order is a knee-jerk reaction that is characteristics of this government.

How many of such executive orders have been thrown out in court as a futile and needless exercise?

You're the one who needs some schooling my friend.

jomoh:
The reason is below. You’re the only one who made sense on that front page. At least you seek to know what was going on. Others just keep commenting rubbish without knowing the story behind.



At least try to understand the story behind the post you’re commenting rubbish on.

Mr Know it all... Running an economy on executive fiat and FEC meeting resolutions would never ensure sustainability. Another government comes in an undo the executive order of the previous and the vicious cycle continues.
How about we put laws and legislations that will protect these farmers in the long run and punish culprits who will most likely reinvent themselves as nobody sits idle while their means of lively hood either legit or not is taken from them.
I maintain that the executive order is a knee-jerk reaction that is characteristics of this government.

How many of such executive orders have been thrown out in court as a futile and needless exercise?

You're the one who needs some schooling my friend.