Penguin2:
Placing FX restrictions on these products was well intentioned but I guess other variables made it become unattainable for now.

The CBN is therefore right to lift the restriction for now so that the importers of those items will not be putting pressure in the black market which adds pressure to the Naira.

It’s an intricate situation really.

gabbytabby:
He wanted to grow internal production so this is a good idea but it should not have lasted for so long.

Most countries who use this only use it for not more than 2 years to give a headstart to their industries but the right time to reverse is as soon as the FG stopped the essentially subsidising foreign exchange transactions and transfers.

Thank you PBAT Nigeria go better. On your mandate we stand.

Dogalmighty17:
Believe the rubbish above at your peril. What business does the cbn have with the parallel market? The parallel market exists simply as a result of the failure of the CBN to make dollars available so people have to source for dollars elsewhere. The simple truth is that Nigeria is not earning enough dollars. The profligacy and wastefulness of the Jonathan and Buhari government is beginning to catch up with us.

The billions of dollars being stolen from this country has brought Nigeria to its knees. Instead of addressing the thieves, the APC and PDP rather chose to embark on borrowing mindlessly. These loans have to be paid back and serviced in dollars. Presently 96% of Nigerias earnings are channeled into debt servicing. Which useless and stupid CBN governor has been in charge for the past 12 years? That fool Emiefele.

There is nothing the CBN can do now. The present CBN governor is very senseless with this poorly thought out policy. There are better ways to seek harmonization of both the parallel and official market. In the first place, it is even wrong that selling of currency is even a business. That is a very fundamental failure for any Central Bank.
If the CBN can't guarantee availability of dollars in the official market then this policy is as useless as it comes. The parallel market only responds to the official market. The dollar didn't cross 1000 naira until Tinubu came up with a supposed harmonization policy. We all see what a disaster that has become.

BUHARI WAS AN ILLITERATE WITH HIS IMPORT RESTRICTION POLICIES. HE KILLED NIGERIA.
Every economy has things it produces cheaper than other countries. So it is advisable to dwell on what you can cheaply produce and import what another country can produce cheaper. Import restriction policies are failed policies. Nigeria will never be able to produce rice cheaper than India and Thailand can. Restricting imports only forces the prices of inadequate local supply to rise. Just as we have seen local rice do. Multiply this scenario across a number of other sectors and then you understand what damage Buhari really did.

The ban on poultry importation pushed so many people into poultry business. This created a huge demand for poultry feed that the feed making companies in Nigeria still can't meet with. The result, high price of feeds, which leads to high price of birds and eggs at the point of sale. The present price of a crate of eggs is twice what it was at the end of Jonathans tenure.

Nigeria has too many built-in economic efficiencies. We do not have the knowledge base for tertiary industries and secondary even. We can't drive a 21st century economy primarily on subsistence industry. Government can't keep paying lip service to science and technology and expect things should change. It is far easier to steal and which is what our political class have done and keep doing. I have nothing but utter contempt for them.

syntekelite:


Grow which internal production? What mechanism did he put in place to aid internal productions?? Ajaokuta steel- comatose, refineries- comatose, farms - controlled by terrorists..
Reason why nigerians keep voting the loudest politicians instead of the quiet silent achiever.. nigerians dont read or fact find utterances of politicians, for example before he was elected buhari said nothing like subsidy then removed subsidy twice as president nigerians kept mute, dasuki stole billions of arms money according to buhari yet throughout his 8years as presido dasuki was never arraigned while kanu cld be fished out from uk gestapo style..

syntekelite:


Buharis intention were sinister and totally in favour of the northern oligarchs which in turn benefits the whole north... Buhari closed borders but the northern border was open, buhari banned 43 items yet which region locally produces most of the banned items - the north, the same buhari& emefiele then gave out loans they hve no intention of recovering to farmers and business men collateral free with low interests mostly to 95% of northerners at times multiple times to same individuals and companies, the same buhari/emefiele then banned crypto citing terrorism as an excuse so that bdc's which are owned by 90%northern elites jst like cows will continue to grow exponentially and become a force in the forex markets rise or fall..

gabbytabby:
Maybe you are a diaspora cos a lot of Nigerian rice production and poultry for meat happened and I hope continues to happen.

Stay on focus all of Nigeria’s problems cannot be undone in 10 years or one statement. All of us need to keep asking ourselves what we do to contribute to the problems and how do I fix it.

Be a part of the solution.

Seems you arent following the cbn expose... Tinubus govt are still recovering the billions of funds emfiele/buhari loaned out which should have been for the main purpose of the same local production you are hyping but guess what it wasnt loaned to the right farmers/businesses but to stooges and friends who have no intention of paying back..as per the local production how many grants were given to the right smes?? Hw many rice farms that can produce what nigeria eats did buhari commission?? The poultry you talking about is still a private business and buhari did nothin to support them in fact under buhari the feeds became more expensive making it unsustainable, the few states who have hectares of rice farm cant plant cos of boko haram/bandits yet you lauding a fake restriction tht was meant to favour northerners and the likes of dangote...
Moreover just so you know we were still importing tonnes of rice under buhari's tenure..

gabbytabby:
Maybe you are a diaspora cos a lot of Nigerian rice production and poultry for meat happened and I hope continues to happen.

Stay on focus all of Nigeria’s problems cannot be undone in 10 years or one statement. All of us need to keep asking ourselves what we do to contribute to the problems and how do I fix it.

Be a part of the solution.

gabbytabby:
Maybe you are a diaspora cos a lot of Nigerian rice production and poultry for meat happened and I hope continues to happen.

Stay on focus all of Nigeria’s problems cannot be undone in 10 years or one statement. All of us need to keep asking ourselves what we do to contribute to the problems and how do I fix it.

Be a part of the solution.

Ogan79:

Big Lie,infact that They won the election is a big fallacy from the pit of he'll.

DMerciful:
Tinubu worked with Mahmmud to compromised the election and you need same INEC to prove it. Thats why its difficult but the Supreme Court must interpret the electoral act

peculiar2233:

You mean the carrier crim*nal or which one exactly?

JagabanB:

Obi said he was going to prove he won the election, he sued INEC and same Obi is expecting INEC to help him in court?
E be like u d confused.

Frankaka8:
maluu don talk

Larryndelaw:
Why do you want obi to be president of zoo country

Frankaka8:
I always prefer Obi because he does not forge certs, he doesnt do illegal drugs, he is clean as a whistle, and finally HE did not produce Buhari for 8years from his party.

Khyrvxjzy:


it well
am hearing rice is already coming down

BoldBrainz:


Oya wait na😂!

As na my pessimism make naira dey open legs like ashawo for badagry make dollar dey fvck am with craze so, you go soon see am. Na here we dey!

syntekelite:


Seems you arent following the cbn expose... Tinubus govt are still recovering the billions of funds emfiele/buhari loaned out which should have been for the main purpose of the same local production you are hyping but guess what it wasnt loaned to the right farmers/businesses but to stooges and friends who have no intention of paying back..as per the local production how many grants were given to the right smes?? Hw many rice farms that can produce what nigeria eats did buhari commission?? The poultry you talking about is still a private business and buhari did nothin to support them in fact under buhari the feeds became more expensive making it unsustainable, the few states who have hectares of rice farm cant plant cos of boko haram/bandits yet you lauding a fake restriction tht was meant to favour northerners and the likes of dangote...
Moreover just so you know we were still importing tonnes of rice under buhari's tenure..

gabbytabby:
Unfortunately it’s a Nigerian thing.

No matter the good intentions of the government, there will always be those who will fraudulently posture for every programme and collect money or goods that they divert.

After a while I got better at building 9ja properties by taking into consideration the Nigerian factor, entrances away from each other, limit interaction by where you put the veranda, safeguard the kitchen, 2 separate verandas for gen and gas cylinder, provide places for spreading clothes to avoid them turning your house to a baracks, try to separate the utilities as much as possible. All this just to limit your stress as a landlord.

Larryndelaw:
But your messiah said Nigeria is a zoo country a d you still want obi to president of a zoo country? Shame no dey catch una. Once they catch una for one corner, una go change the goalposts

DMerciful:
INEC is still the custodian of the documents so they have to provide them according to law.

In your warp mentality, you assume that fraudulent elections is Obi's loss, you faik to see it as Nigeria's loss. You will eventually