sterlingD:
I have wondered where are our legislators and what are they doing.That brings me to the question how do these guys sleep well and peaceful at night while the populace they have sworn oath to represent are going through economic hardship.

Economic hardship which they contributed to. Check out their salaries, allowances in this economy. Common! They bought official vehicles with dollars instead of buying from innoson motors with Naira. What are the lawmakers saying,? Can they exonerate themselves from this decay? They're equally responsible. Foreign wines purchased with dollars are what you see in their fridges. How would CBN policy work? Let no one play innocentee here please or shift blame.

As if senators are any better... just a bunch of corrupt greedy people.

Naijadaily:


https://sunnewsonline.com/senate-to-cbn-ministers-your-policies-are-failing/?amp

Did Cardoso remove the fuel subsidy? Which kind wahala be this?

Johnjustice:

I didn't use the word ban, I said tax them heavily, like they do in UK etc, concentrate more taxes in luxury items, items that we will require huge amounts of dollars to buy, items that have no economical value, for the value our currency got it for.

There is a reason why UK government tax you I'd you have multiple vehicles, you pay ground tax etc on them, all these is to discourage capital flight, we need to retain our wealth here, strengthen our currency.

Please what is the benefit of putting too much tax on goods you don't produce? It makes more sense only if you put more tax on goods that you produced but are been imported to the country, this will help to discourage importation. But what sense in putting heavy tax on goods you don't produce and doesn't have competitive value on it.

How about the Senate it self, what progress have you made since independence?

@gaby
Elementary school home Economics teachers heading a country's economic team and monetary policies.

@me
Yeah PhD economics holder who is only an expert on nairaland.

IfnobeGod20:

Please what is the benefit of putting too much tax on goods you don't produce? It makes more sense only if you put more tax on goods that you produced but are been imported to the country, this will help to discourage importation. But what sense in putting heavy tax on goods you don't produce and doesn't have competitive value on it.

You be mumu, it is good to tax them to discourage Nigerians buying them.

Are you dumb don't you know that chronic importation is one of the reasons our currency is getting useless?

You seem very dumb, I thought I was talking to an intelligent fellow.

I wonder why you fools will be supporting nonsense, brainless idiots...are you among the people buying vehicles worth 500,000USD etc?

Government job is to protect the economy, prevent Capital flight and take measures to protect local currency. Mumu, brainless idiot,I already analysed this in my previous reply, but your dumb brain can't get it. A vehicle worth almost a billion naira is a waste of capital, as it has no value to our economy, this is what they call capital flight (when your capital goes to other nations)

Everyone is afraid to call out the main problem at Aso Rock. They keep beating about the bushEveryone is afraid to call out the main problem at Aso Rock. They keep beating about the bush...

The very people destroying the economy are asking questions. They must really take us for fools..

Johnjustice:

You be mumu, it is good to tax them to discourage Nigerians buying them.

Are you dumb don't you know that chronic importation is one of the reasons our currency is getting useless?

You seem very dumb, I thought I was talking to an intelligent fellow.

I wonder why you fools will be supporting nonsense, brainless idiots...are you among the people buying vehicles worth 500,000USD etc?

Government job is to protect the economy, prevent Capital flight and take measures to protect local currency. Mumu, brainless idiot,I already analysed this in my previous reply, but your dumb brain can't get it. A vehicle worth almost a billion naira is a waste of capital, as it has no value to our economy, this is what they call capital flight (when your capital goes to other nations)

This is the problem of some of you, you are not always ready to learn and that is why the economy is deepening by successive government. Governance requires sound IQ and not gragra.
You impose high tax on goods as to discourage too much demand on the goods and to encourage competitiveness and grow the economy.

There is what we called comparative advantage. Government impose high tax on foreign goods with which the country has high comparative advantage, as to grow the product and grow the economy. If you impose high tax on goods you don't produce, what is the sense there, as a good economist. You don't kill the economy just because you just woke up and decided to impose tax on anything taxable. This is what has been killing the economy since Buhari closed the borders. Since they closed our borders has that improved our economy, capital NO.

As you're advocating taxing of foreign goods to discourage importation, have you sat down to think of the substitute products or the comparative advantage of the goods. The application of what you read in books is quite different from practical aspect.

Let me bring it down for you because you may not yet understand it. Nigeria as a country doesn't produce cars. They only assemble them, meaning there's need to import car parts for assemblage. If the government now imposed high tax on the parts, you know what it means, you've killed the assembling plants across the nation and invariably send many to labour market with such policy.

Let me give another example for more clarity. Nigeria is one of the highest producers of yams in the world. If there is a frequent importation of the yams into Nigeria, then, the government can impose high tax on yam importation as to discourage importation of yams as to grow the local production of yams and improve the economy by reducing capital flight.

These are practical ways of governance and not this gragra that you people always want. You don't kill the economy indirectly by your action or policy. For any policy to work, you must look inward and ask so many questions, not just applying theories read in books. The practical aspect is quite different. Cool down and stop using vulgar words, this is a public forum that requires decorum. You can go back and read rules guiding this forum.

But the cbn governor is better than NOI kikikikikikikikkkkkikiki