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Nairaland Forum / Nairaland / General / Business / High Exchange Rate: Cargo Import Drops To 65% At Seaports (12990 Views)
EFCC Raids Speculators As Naira Drops To $1,520/$ / Tin Can Road: Union Orders Members To Shut Seaports / Nigeria’s Fuel Import Drops By 42% To N1.7trn In 2019 (2) (3) (4)
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Re: High Exchange Rate: Cargo Import Drops To 65% At Seaports by chibuikebright(m): 1:42pm On Oct 24, 2023 |
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Re: High Exchange Rate: Cargo Import Drops To 65% At Seaports by Chetas81(m): 1:43pm On Oct 24, 2023 |
CONGRATULATE YOURSELF AND THE TINUBU GOVERNMENT, MY EXPATRIATE BOSS TOLD ME THIS MORNING, ABOUT HOW THE FOREIGN INVESTORS WILL PACK THEIR LOAD AND LEAVE NIGERIA IF THINGS CONTINUED LIKE THIS _______ MEANWHILE ALL OF YOU ARE BREEDER'S, SERIOUS CRIME ACTIVITY IS ON THE WAY ______AS YOU NIGERIAN CITIZEN LOVE BAD PEOPLE COMING TO GOVERN YOU AND YOUR LOVE ONE 4 Likes 1 Share |
Re: High Exchange Rate: Cargo Import Drops To 65% At Seaports by Angelfrost(m): 1:44pm On Oct 24, 2023 |
That's not bad... The only question remains: do we have the internal production capacity and self-sufficiency to cushion this??! If yes, then this is good news. From the perspective of Healthcare, this is already looking Catastrophic! I wonder how much the following go for now or will go for later: 1. Augmentin Products and other essential drugs which we obviously don't produce here. 2. Inhalers (for Asthmatics) 3. Supplements 4. Laboratory Materials and Reagents Etc... 1 Like |
Re: High Exchange Rate: Cargo Import Drops To 65% At Seaports by Gboom: 1:45pm On Oct 24, 2023 |
mrvitalis:wetin obi know |
Re: High Exchange Rate: Cargo Import Drops To 65% At Seaports by Fiscus105(m): 1:47pm On Oct 24, 2023 |
Ikaeniyan0: Is exportation increased? Naira will start appreciating when will start export far more than we import. How will that possible? We must start producing what people from outside would be buying from us for us to get more dollars. Can we produce them? It will be very difficult because of heavy taxes, no electricity, insecurities and energy (petroleum) are too costly. |
Re: High Exchange Rate: Cargo Import Drops To 65% At Seaports by Theunbothered: 1:50pm On Oct 24, 2023 |
Ikaeniyan0: That will never happen |
Re: High Exchange Rate: Cargo Import Drops To 65% At Seaports by Blitzking: 1:50pm On Oct 24, 2023 |
In the long run this tinubu method will favour the economy but many will be crushed before it arrives...it will favour home grown solutions to our problems. Only the political thieves..those who earn in dollars and ppl close to them will be able to purchase foreign goods...was just wandering if other viable alternatives exist..yeah...like tasking the rich increasing import duty on luxury good..imagine a 200 thousand dollars car with import duty of 3 million dollars no body go bring am enter the country and we will conserve our foreign exchange anybody dat can afford it has some explanations to make. 2 Likes |
Re: High Exchange Rate: Cargo Import Drops To 65% At Seaports by Oxtertee(m): 1:53pm On Oct 24, 2023 |
Kukutente23: this brings back the memory of this topic in economics "Trade", which is divided into 2 category (home trade & foreign trade) home trade- trade within one's country. foreign trade -trade between 2 or more countries. I kept wondering why this administration is making international trade(buying from other countries) looks like abomination is commerce and economics a joke to apc ni 1 Like |
Re: High Exchange Rate: Cargo Import Drops To 65% At Seaports by erico2k2(m): 1:54pm On Oct 24, 2023 |
forgiveness:What can you produce? |
Re: High Exchange Rate: Cargo Import Drops To 65% At Seaports by Reference(m): 1:54pm On Oct 24, 2023 |
CodeTemplar: It is called projection. The business world knows where value is and where value will be lost well, well in advance and acts/adjusts accordingly. Don't worry the present economy will elevate everyone's thinking and hopefully into some sort of competence. |
Re: High Exchange Rate: Cargo Import Drops To 65% At Seaports by Oxtertee(m): 1:59pm On Oct 24, 2023 |
erico2k2: even thou we have limited finish goods for onward export to earn forex, what about the huge raw materials we have here, natural resources included. but all those greedy politicians has make it look like it is must for Nigerians to face untold hardship. |
Re: High Exchange Rate: Cargo Import Drops To 65% At Seaports by erico2k2(m): 2:06pm On Oct 24, 2023 |
Oxtertee:That question was meant for you as a Nigerian. As you can't be telling others what to do with their money |
Re: High Exchange Rate: Cargo Import Drops To 65% At Seaports by Papayaayasager(m): 2:25pm On Oct 24, 2023 |
Tinubu is a god sent he has reduced gridlock in our seaports |
Re: High Exchange Rate: Cargo Import Drops To 65% At Seaports by kevwemike: 2:36pm On Oct 24, 2023 |
Bobloco:BAT is doing well, thank God no one can blame GEJ. any more. 1 Like |
Re: High Exchange Rate: Cargo Import Drops To 65% At Seaports by Bizibi(m): 2:39pm On Oct 24, 2023 |
The government knows the obstacles but they won't do it. |
Re: High Exchange Rate: Cargo Import Drops To 65% At Seaports by Bovis(m): 2:44pm On Oct 24, 2023 |
mrvitalis:The theory of comparative advantage according to Ricardo is a scam that favours only developed and industrialised countries. Nigeria produces mainly agricultural products/crude oil and needs to protect its infant industries and economy from being a dumping ground for cheap imported Chinese goods. The almighty USA and Germany were once against the theory before they became industrialised 1 Like 2 Shares |
Re: High Exchange Rate: Cargo Import Drops To 65% At Seaports by maxkia(m): 2:58pm On Oct 24, 2023 |
Ikaeniyan0: The ban won’t have any effect on the Naira present free fall. This is because politicians are the ones mopping up all the Naira they loot in government,exchange & domicile in dollars to hold value . Which importer will buy dollars at #1200 per dollar? How will he make profit also considering the fact that even import duty at the ports were increased also plus 7.5% vat . Until we hold our leaders/ Politicians accountable, The Economy will remain in shambles. Peace ✌️ 1 Like |
Re: High Exchange Rate: Cargo Import Drops To 65% At Seaports by Kingbuhari(m): 2:59pm On Oct 24, 2023 |
forgiveness:you are a clown 🤡 1 Like |
Re: High Exchange Rate: Cargo Import Drops To 65% At Seaports by sulaak(m): 2:59pm On Oct 24, 2023 |
Bobloco: Smart countries will take advantage of the slump in imports to increase local production of exportss, but it will take committed leadership and dedicated people |
Re: High Exchange Rate: Cargo Import Drops To 65% At Seaports by sulaak(m): 3:04pm On Oct 24, 2023 |
erico2k2: Nigeria produces Groundnut, palm oil, gold, Cassava, Crude Oil, and Supply Ships. The country has the capabilities to be a steel, refined oil, petrochemical, Aluminium, automobile and ship producer in less than 3 years if it had a committed leader that wasn't interested in stealing oil resources. President Bola Tinubu as Minister of Petroleum Resources appointed Heineken Lokpobiri as the Minister of State for Petroleum Resources (Oil) and Ekperikpe Ekpo as Minister of State for Petroleum Resources (Gas) in August 2023. They replaced Timipre Sylva who took over the Ministerial portfolio in August 2019. |
Re: High Exchange Rate: Cargo Import Drops To 65% At Seaports by Beverlyjean(f): 3:04pm On Oct 24, 2023 |
forgiveness: Seems like u don't understand the economic rule of demand and supply... u think u can just export anything without demand ...u think other countries are like us that are unserious in production... they can only buy what they can't produce ... even as powerful the Chinese economy is , they are really struggling to find buyers for their products like their cars and phones , reason they dump those products in poor African nations ... u think if u go to usa or Germany or Brazil, u will see Chinese cars or phones... Nigeria is a big market for China cos we have money to buy their products at the same time they know we are stupid and can't manage our economy, reason they are having a field day here .... the only think that we can produce that will be in high demand are produce like oil, lithium, gold ( if its of quality) , coal is already heading to its last days as a serious mineral... bitumen to an extent , but again, how much quantity can we produce and how's the quality .... what u should be talking about is how we can reduce import , so that the demand in dollar reduces ... 1 Like 1 Share |
Re: High Exchange Rate: Cargo Import Drops To 65% At Seaports by maxkia(m): 3:05pm On Oct 24, 2023 |
Ikaeniyan0: You sure say you get Certificate. Read what you wrote up there & listen to your self Omo eru |
Re: High Exchange Rate: Cargo Import Drops To 65% At Seaports by Ikaeniyan0: 3:07pm On Oct 24, 2023 |
maxkia:Kindly explain what's wrong with what I write the smart one |
Re: High Exchange Rate: Cargo Import Drops To 65% At Seaports by SeaTrade(m): 3:09pm On Oct 24, 2023 |
mrvitalis:What will Obi do differently to boost the so called exports you've been screaming about? You want to export finished goods and sell to who?What will you or Obi even export? How long will it take you? Where will the forex to use to import heavy duty machines your sudden industrialisation projects will need come from if you don't manage imports via substitution? You think you'll just wake up overnight and start exporting and go and break years of acquired capacity and industry relationships and even lines of credit with giants because one fool who don't even own a viable business is saying so right? Obi is just a good Orator but a serious dunderhead and calamity that Nigerians chose to pass on and I respect them for that, Tinubu was the best amongst all three but your hunger driven tribalism and basic depravity can't let you see that because you actually need to be comfortable enough and roll with technocrats and doers to be truly enlightened,which you can't be caught dead in those circles. 2 Likes 1 Share |
Re: High Exchange Rate: Cargo Import Drops To 65% At Seaports by erico2k2(m): 3:13pm On Oct 24, 2023 |
sulaak:we are not talking about what Nigeria can produce, Im talking about what you as an individual produce cos this is what its all about |
Re: High Exchange Rate: Cargo Import Drops To 65% At Seaports by erico2k2(m): 3:14pm On Oct 24, 2023 |
SeaTrade:Look we should all forget obi ,obj pmb etc. the man on the Hot Seat is Tinibu, he is in charge an head, so he is to blame and he is responsible for anything that goes good or bad simple,,If he knows he cant sort it let him step down for those who feel they can, |
Re: High Exchange Rate: Cargo Import Drops To 65% At Seaports by mrvitalis(m): 3:15pm On Oct 24, 2023 |
SeaTrade:I was ready to debate you... But when you said Tinubu was the best? U mean same man that avoided interviews? Fumbled at any given opportunity The bolded is typical of your type you project your type how you behave unto others 1 Like |
Re: High Exchange Rate: Cargo Import Drops To 65% At Seaports by SeaTrade(m): 3:16pm On Oct 24, 2023 |
erico2k2:Every step Tinubu has taken so far is a step in the right direction with long-term results, Give the man time. And as for the depreciation in the parallel market,in time to come all the steps he's taking now will make them obsolete in the Nigerian fx scene. 1 Like |
Re: High Exchange Rate: Cargo Import Drops To 65% At Seaports by kiddkash(m): 3:17pm On Oct 24, 2023 |
mrvitalis:We didn't export enough during Obasanjo, GEJ, Buhari still it wasn't this bad. I think someone or group of persons are intentionally making it fall this bad, so that they can bring dollars into the country and buy up huge properties, leaving almost nothing for the poor |
Re: High Exchange Rate: Cargo Import Drops To 65% At Seaports by SeaTrade(m): 3:22pm On Oct 24, 2023 |
mrvitalis:Oh trust me,I wasn't up for debate with you, Just wanted to put your emptiness in its rightful place. Tinubu's personality or charisma shouldn't be a determinant for what he can achieve, Have you seen Mike Adenuga coming on TV for any bickering or interview before? Can your empty obi build a tenth of what he's built? Personalities and character differ and shouldn't be a progress determinant, even though I don't expect you to know this as its clearly above your pay grade. Real achievers don't need media frenzies, their actions are all that matters. 3 Likes |
Re: High Exchange Rate: Cargo Import Drops To 65% At Seaports by InvertedHammer: 3:39pm On Oct 24, 2023 |
/ Every election, they package one rubbish human being and sell to Nigerians. Knowing the penchant for Nigerians to self-sabotage, the gimmick always worked. People like FFK that packaged the nonsense have retreated to their shells to continue enjoying their lives while the basket of gullible are left to wither away in penury. / |
Re: High Exchange Rate: Cargo Import Drops To 65% At Seaports by erico2k2(m): 3:44pm On Oct 24, 2023 |
SeaTrade:No time to give chance ahah well itis favouring us abroad. just so you know 1 pound is now N1500 |
Naira Rises By 7.7% As Official Exchange Rate Close At ₦1,142/$ / Naira Down To N1,525/$ In Parallel Market / How Can I Stop Debtors From Coming To My Shop?
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