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Islam for Muslims / Re: Story Of A Youth Who Slept With A Corpse: Punishment Or Forgiveness? by superior1: 9:07am On Mar 28
Animals and beasts had surrounded him, and the birds had formed a circle around his head

@OP, do you mean the above in the literal sense or wetin?
Politics / Re: Picture Of Delegates Sleeping At National Conference After Collecting N12m by superior1: 8:18pm On Mar 18
Make someone throw knockout for inside the hall, Usain Bolt sef go bow for the race

32 Likes

Culture / Re: If You Are From Cross River Or Akwa Ibom, This Topic Is For You. Sosongo. by superior1: 8:14pm On Mar 18
Hello folks, can anyone translate this song for me please?, guess it is Ibibio right

https://www.youtube.com/watch?v=PJViHJMLNTk
Jobs/Vacancies / Re: The Best Picture Of The Day "NIS Exam" by superior1: 6:29am On Mar 16
Toooor
Webmasters / Re: What Most Experts Won’t Tell You About Today’s Internet by superior1: 6:27am On Mar 16
@OP, I dont need to be an expert to know all these nah

2 Likes

Jobs/Vacancies / Re: His Experience At The Immigration Test. by superior1: 6:19am On Mar 16
We were close to 20,000! The teacher that
taught me in pry sch came! When I saw
him,I wept uncontrollably
View details ·
Capt Jake B.UDINOV™


Haaa!, Nkan bee!!!

23 Likes

Jobs/Vacancies / Re: Stranded Immigration Applicants At Murtala Square Kaduna.(pictures) by superior1: 6:14am On Mar 16
I am sorry sorry ooo, I am sorry for Nigeria!

1 Like

Health / Re: 10 Interesting Things About Veiled Births by superior1: 6:11am On Mar 16
It is well.....thank God it's sunday, make i come dey go church
Violent Crimes / Re: Jungle Justice In Eket, Mad Man Kill Two And Get Killed by superior1: 9:25am On Mar 11
He has got too good hair-cut for a mad man

RIP to the dead

1 Like

Travel / Re: What Nigerian Food Do You Miss Most While Abroad? by superior1: 8:12am On Mar 07
Bread Agege (Fresh) and hot akara (ofoooro wey no too dry for epo before dem comot)

Everyother thing, african market for my area dey make available at a serious cost sha
Politics / Re: FG To Reduce Tariff On Imported Rice by superior1: 11:38am On Mar 06
kulumo:
You don't think the 110percent will be impacted on the Unit cost of the product with the consumers bearing the eventual resulted effects? For a country like Nigeria, a lot other factors needs to be considered when designing economic measures. This following questions needs to be asked.
1. What funds or subsidy is available for the local growers?
2. What technology is available to boost rice productions?
3. What is the position of the Nigerian border security?
4. How secured is Nigeria for foreign investment into rice production?
5. Any revolutionary measures put in place to encourage local production and investment?
6. How firm and sustainable are the government policies? ETC.

The nature of a system needs to be considered before making economic policies. What works in other system might necessarily no work in another. Policies are made in Nigeria to benefit few at the expense of the many. Only here is growth and development seen in theory without resulted effects on the population. You hear stuffs like , the economy has grown from 1 to 10 percent. Power has improved, roads are better, education is fantastic, health is booming, agriculture is great, housing has been given priority etc. Yet Nigerian ain't seen none of these. Nigeria is too corrupt to accommodate high tariffs, criminals and hopeless individuals will turn it to a trade, to detriment of both government and the people. Anytime we experience fuel scarcity, hopeless and jobless youths will cease the day and before you know it, they increase the unit price of the product and deny genuine consumers the buying rights. Okonjo and her team need to seat tight and be practical rather than theoretical.

The problem is that the gain has a net effect of a loss. The consumers gets temporary relief but local production suffers at a greater proportion. Already, our porous border is killing producers since the unit cost of production is more than the one imported and there is no country that makes serious economic progress in this kind of situation, every country always protect her local producers but this Ikonjonomics will achieve exactly the opposite.

All the factors you listed are not new and there are existing knowledge to accommodate them.

Like I said, if the move was to give temporary relief, Import quota licenses should be sold (the governments make some incomes), a fixed quantity of rice should be allowed with a projection of reducing this quantity in the future, meanwhile through production subsidy and other intervention policies, the local producers can be encouraged to produce at a reducing unit cost of production until such a time importation can be conveniently prevented.

It is recklessness that will make a government drop import tariff and make her country a dumping ground, killing local production

When Obansanjo banned poultry products from being imported, there was a serious increase in poultry investment in Nigeria, although the cost of production was high initially, it later dropped and will keep dropping as long as local production is on the increase and policies are implemented to reduce cost.

1 Like

Politics / Re: FG To Reduce Tariff On Imported Rice by superior1: 11:51pm On Mar 05
Promhize:

If it the tariff had been increased, you won't be saying this, pessimistic minion

Let me educate you a little, I dont need your thanks.

A sensible government will subsidize local production which will encourage local producers, increase producers welfare and also increase consumer's welfare since the Marginal Cost of production will be reduced, the effect is that the economy gains and the objectives are still met (except dangote will not make illicit money)

Even if the objective is to meet a short time need ( for immediate relief) import quota license should have been issued because with good handling, it still gives power to the domestic market.

If i am a trader in the international market now, with this announcement, I will increase the cost of rice knowing there will be increase in demand by Nigeria and hence, I the trader gains the tariff drop and not Nigerians

2 Likes

Politics / Re: FG To Reduce Tariff On Imported Rice by superior1: 11:12pm On Mar 05
God bless my Economics Prof, he taught me that

When tariff is removed on a commodity by a large importing country (with local producers), the following happens


1. Increase in volume of importation into the domestic market which leads to increase in the international price
2. Producers welfare drops and discourages local production
3. Whereas there is a short gain of improvement in consumers welfare, the net is a loss
4. The country loses income
5. The country will be in a worse scenario than before the removed tariff

I guess we are using Ikojonomics theories in Naija where Dangote must be kept happy at all cost

9 Likes

Business / Re: FG To Reduce Tariff On Imported Rice From Current 110% by superior1: 9:52pm On Mar 05
God bless my economics Prof, he taught me that

When tariff is removed on a commodity by a large importing country (with local producers), the following happens


1. Increase in volume of importation into the domestic market which leads to increase in the international price
2. Producers welfare drops and discourages local production
3. Whereas there is a short gain of improvement in consumers welfare, the net is a loss
4. The country loses income
5. The country will be in a worse scenario than before the removed tariff

I guess we are using Ikojonomics in Naija where Dangote must be kept happy at all cost
Politics / Re: Letter Of Apology Of A Nigerian To NNPC by superior1: 12:14pm On Mar 05
@OP Apology accepted.

Go and sin no more
Politics / Re: BREAKING NEWS: Senator Musiliu Obanikoro Becomes Minister Of State Defence by superior1: 11:59am On Mar 05
Ko possible











Abi na true
Politics / Re: Obesere Arrested For Alleged molest. - Vanguard News by superior1: 11:53am On Mar 05
Two consenting adult tinz
Politics / Re: Bolaji Abdullahi Sacked As Sports Minister by superior1: 11:50am On Mar 05
Really.....??

When is he sacking the thieving Diezani Alison-Madueke

29 Likes

Politics / Re: Rivers: “apologise Or Face Suspension” – APC Berates Hon Bipi Over Poor Grammer by superior1: 11:47am On Mar 05
What do you expect from a man who said Patience Jonathan is his Jesus
 
Food / Re: What Is The Proper Name For This Fruit..? by superior1: 11:59pm On Mar 03
Remember we use to break the shell and attack the 'epa' inside it...........kids of yester-years grin grin grin
Business / Re: Skye Bank Threaten To Sue Us For Posting Their Woes On Nairaland by superior1: 1:50pm On Mar 02
@Op, kudos
Politics / Re: We Make 600 Cars Monthly And Employ 7200 People: Innoson by superior1: 10:43am On Mar 01
Great work Mr. Innoson but is that why Tokubo must be banned?

4 Likes

Business / Re: Report Predicts Naira Devaluation On Sanusi’s Suspension by superior1: 5:46am On Feb 26
when a president makes serious economic decisions after several bottles of 'ogogoro', what do you expect

That clueless imbecilic mo.ron will destroy this country faster than the combination of boko haram and corruption

29 Likes

Violent Crimes / Re: Murder Of Banker Wife: Arowolo Sentenced To Death By Hanging by superior1: 2:45pm On Feb 21
Quite a pathetic story

steve_cantrell: A saner judicial system would remand him to a psychiatric facility. He's been a known schizophrenic since his teens.

1 Like

Politics / Re: Reps Reject Sanusi's Suspension After Hot Debate by superior1: 4:32pm On Feb 20
A man accused you of stealing and instead of responding with facts to state otherwise, you start making attempts to keep him shut. What further evidence do we need to know you are what the man said you are??


Jonathan can fool some people at sometimes but he cant fool all of us, all the time
Politics / Re: I Will Challenge My Suspension- Sanusi by superior1: 1:58pm On Feb 20
SLS should forget about court, it will come to nothing. If i were him, i will relocate my family out of the country, seek asylum in the US and start publications of the massive looting Jonathan and Jonatharians are perpetuating.

8 Likes

Travel / Re: General UK Visa Enquiries - Part 2 by superior1: 5:48pm On Feb 10
Vicjustice:
You can use this link to translate the message to any language that you prefer, it can also translate into Yoruba, Hausa and Igbo: http://translate.google.com

grin grin grin grin grin grin grin
Politics / Re: APC Suffers Another Loss, As Belgore Defects To PDP Wednesday by superior1: 5:17pm On Feb 10
I am very much in love with this, make APGA and Labour formerly join PDP. Let us have 2 parties to test their popularity at the poll without any mago-mago
Politics / Re: Jonathan Removes Ogiadomhe As Chief Of Staff by superior1: 5:11pm On Feb 10
Who is Jona deceiving , does he think we cant see beyond the smokescreen
Who no know say the fella (if really guilty) is just a conduit? and he Jona.dumbest is the real baroo
Properties / Re: Ex Deputy-Governor Of Lagos, Ojikutu In N130m Land Scam by superior1: 12:56pm On Feb 10
Flameboy26: Ndi Ofe-nmanu no de carry last for fraud. Yoruba pple no de dull for fraud@all

2 Likes

Politics / Re: Fani Kayode Now On 3rd Marriage, Second Divorce by superior1: 11:35am On Feb 10
And how did that resulted into Overland Plane near crashing

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