sinistermind:
Y'all Nigerian are hypocrites... The same people that are here defending the government on encouraging local manufacturing are still the same people that'll see a locally made product n tag it "Aba Made" and boycott such product.

TheSonOfMark:



Face the topic, sycophant! My pictures are regularly updated on my profile 'cause, unlike you, I have no run in against the law and I have nothing to hide.

Wait...You've seen my pictures? Which means you've been checking my profile regularly and I don't even know you. Hello everyone, I've got a fan!

You couldn't even articulate a retort to counter the points I raised
. An attestation of your low I. Q? I thought as much



Typical of you APC lapdogs to try to divert attention from a topical issue when you're being overrun by facts.


So long, _masturbator! Focus on the topic!

Rose2014:
Buhari's policies is aimed at destroying entrepreneurs in Nigeria cos it's hard to run any business in Nigeria without needing anything from outside the country.

If he's trying to punish Igbos for not voting for him, he should be aware that he's indirectly punishing the masses cos guess what? If I have to go through so much to run my business, the Yoruba Igbo and Hausa civil servants should get ready to spend their minimum wage on one underwear.

Let his robots keep hailing him, let's see who loses last last

greenpasture:


There are easily accessible and sensible CBN micro SME 9% loans available for such purposes. Production machinery is also a preferred industry for FX purposes . Someone is going to do very well advising small businesses that need financing and export capabilities. People need to be informed not scared.

Montaque:


we started this discourse on the moving of the customs office down to kano. How it has adversely affected the trade.
we also highlighted the price of dollars currently as against naira, and how buying things abroad has been adversely affected at the point of payment and at the point of clearing.
When u want to transfer fund for the purchase of these machineries, the dollar price remains the same, and you need to travel back and forth to kano n lagos to clear ur goods.
In all these, will u still insist on a preference for raw materials and production machineries.

greenpasture:


It shouldn't be necessary for importers to go to Kano for any reason because the documentation system is online. If the CAC can process in Lagos I see no reason why Customs cannot do same.

Regarding purchase of machines the bank will purchase the machines in its own name and transfer ownership after loan obligations have been discharged. The bank will source the FX needed. Banks know where FX is located - believe me.

Regarding the cost of dollars, there is nothing that can be done about that in the short term. There is more dollar outside the normal economy than there is within it. Hence the anti corruption efforts. Over the next year or so I expect a stable dollar rate. With stability comes the ability to make strategic plans.

Bigprozzie:


We are not talking about Dog meat here

Please ignore me and face topic

Montaque:

I understand your concerns. But with just 3-4 months import cover, there is not much that the government can do. Remember there are other FX needs other than imports; there are debt obligations, medical care, education and repatriated investments. Maintaining this balance requires prioritisation. A lot of historic mistakes were made. Nigeria has not invested in overseas assets during its boom years and especially while asset prices were low in America and Europe.

As regards the kano issue, I just told you the current situation. We both know what is ideal, but that's not what's on ground.
On the preference which u said is given to production. machineries, I thought what u meant before is if you want to do the exchange and transfer through inter - country transfer companies like moneygram. However what you stated above makes me think you want importers to pass through the commercial banks in the purchase procedure. This is not the common way, and it's mainly for those who don't have the purchase money complete with them.
As regards the high price of dollar, instead of decrease in its price which is the normal fallout of a restricted import in any country, it is the opposite. it's because we haven't buffered our internal sector to be self sustained.
Restriction of import should be after we have a viable alternative internally. So in the absence, there is panic buying and a forced one at that.

cramjones:
Many people have been saying that Buhari means well with his economic policies including my humble self, however, haven discussed with many people and studying who are affected the most, I am convinced to say that whilst Buhari's economic policies affect all Nigerians, the group it affects the most in a disportionate manner are the Igbos. When you examine most of these policies you would think that Igbos are specifically being targeted on all fronts. Let us examine the facts one after the other.

1. According to Vanguard news today, it was stated that Buhari's government have moved Lagos clearing house for imports to Kano. We all know that almost half of Lagos are occupied by Igbos. Igbo business men around the country have their networks in Lagos, and all they have known for many years is clearing their goods in Lagos. Moving it to Kano only adds to their cost without a concomitant value. Does it affect all business men, including hausas? Yes of course, but we all know that at least 70% of imports in Nigeria are carried out by Igbo business men all over Nigeria. This is NOT a good policy in my opinion it creates bad blood for the average Igbo business man, and make life even tougher for them.

(Link here http://www.vanguardngr.com/2016/01/igbo-traders-bemoan-buharis-economic-policies-harsh-business-environment/)


2. The dollar policy has also disproportionately affected Igbos. Most Igbos have had to close business, because they cannot even find the dollar to pay for their imported goods. Worse still businessess that have millions of USD turn over, are prevented by the banks to collect their money, with the bank claiming they do not have dollar. This essentially grinds businesses and further makes the economy slip into oblivion. Does this policy affect other non-Igbo importers? Ofcourse yes, but given that Igbos are the engine of all of our imports in Nigeria, we can safely say that they are disproportionately affected.

3. Two days ago the APC government of Ambode, who in my opinion has been a confused governor, unable to just keep up with what Fashola has done, ordered that Oshodi market be destroyed. This is one of the largest market places in Nigeria and West Africa. Is it a bad policy to destroy Oshodi market for developmental reasons? Absolutely not, depending on its intent. However, what is bad policy, is when you do not give any notice, no alternatives, and then destroy peoples business that took many years to build, throwing thousands off their employment, and making many more people jobless. This is barbaric to say the least. Which group of people dominate Oshodi market? Igbos ofcourse. By many accounts, Igbos make up 85 - 90% of the traders in Oshodi. Was it a way of telling the Igbos that they are not needed in Lagos? Who inspired Ambode to take such actions?


I won't go further than this, but one thing is clear, PMB would have to thread carefully, or else what he thinks he is trying to make better, would only make the country worse. We do not need another civil war, policies like this only make Nigeria more polarized and ungovernable.

God Bless the Federal Republic of Nigeria

-CramJones

drss2:
when we say gen buari is unfit to rule a modern country like nigeria, pipul tink we ar just hating on him. dat we hate him for no reason. now everybody can see d consequencies of his terrible economic policies. general buari's hatred for Igbos is deep in his blood. can anybody explain why shehu shagari was kept under house arrest in a presidential palace n alex ekwueme was thrown into prison in 1984 Does this not shows hatred for Igbos.
see how he is systematically targeting Igbo businesses all over d country to slow dem down so dat his northern pipul like dangote will maintain monopoly. look at capital oil, ibeto cement, innoson n many odas all targets of buari's despotic policies. a nepostic, tribalist, bigotric n a religious fanatic who is bend on destroying South East.
But no matter how he n his northern brothers try to destroy SE business, they will never succced. we will keep rising higher n higher. noting can stop us from progressing, not even d devil himself can keep SE down.

munky:


Sometimes Nigerians like you are too blinded by ethnic and tribal hatred to see. Start manufacturing with which electricity?? Which power? Where is the money to buy needed machines when they can't even access their dollars?

cramjones:


Talking down the points I have raised without raising any counter factual points, just makes you look stupiid. I have been in the APC. I have sat with Buhari a number of times, I am an ardent supporter of Buhari, but when someone is toeing a wrong line, you must call it out. I am not even Igbo, so please don't sound like an idiot.

-CramJones

CramJones: 1. According to Vanguard news today, it was stated that Buhari's government have moved Lagos clearing house for imports to Kano. We all know that almost half of Lagos are occupied by Igbos. Igbo business men around the country have their networks in Lagos, and all they have known for many years is clearing their goods in Lagos. Moving it to Kano only adds to their cost without a concomitant value. Does it affect all business men, including hausas? Yes of course, but we all know that at least 70% of imports in Nigeria are carried out by Igbo business men all over Nigeria. This is NOT a good policy in my opinion it creates bad blood for the average Igbo business man, and make life even tougher for them.

(Link here http://www.vanguardngr.com/2016/01/igbo-traders-bemoan-buharis-economic-policies-harsh-business-environment/)

CramJones: 2. The dollar policy has also disproportionately affected Igbos. Most Igbos have had to close business, because they cannot even find the dollar to pay for their imported goods. Worse still businessess that have millions of USD turn over, are prevented by the banks to collect their money, with the bank claiming they do not have dollar. This essentially grinds businesses and further makes the economy slip into oblivion. Does this policy affect other non-Igbo importers? Ofcourse yes, but given that Igbos are the engine of all of our imports in Nigeria, we can safely say that they are disproportionately affected.

CramJones: 3. Two days ago the APC government of Ambode, who in my opinion has been a confused governor, unable to just keep up with what Fashola has done, ordered that Oshodi market be destroyed. This is one of the largest market places in Nigeria and West Africa. Is it a bad policy to destroy Oshodi market for developmental reasons? Absolutely not, depending on its intent. However, what is bad policy, is when you do not give any notice, no alternatives, and then destroy peoples business that took many years to build, throwing thousands off their employment, and making many more people jobless. This is barbaric to say the least. Which group of people dominate Oshodi market? Igbos ofcourse. By many accounts, Igbos make up 85 - 90% of the traders in Oshodi. Was it a way of telling the Igbos that they are not needed in Lagos? Who inspired Ambode to take such actions?

Abagworo:


Why is it difficult to understand that the draught in foreign exchange is not as a result of Buhari's economic policy. Buhari's economic policy is to prevent the Naira from free fall to 400 Naira to a Dollar overnight. We simply lack Dollars because oil has fallen from 150 to 34 Dollars and it is almost our only foreign exchange earner.

mikolo80:
all Ibo biz do is import dangote produces and earns dollars from export while you gather our money and dash oyinbo because of 10,% profit, mumu ppl

TheSonOfMark:


Opining that Buhari's economic policies are specifically aimed at demoralizing the Igbos is akin to stating that your landlord allows grasses to grow in his compound so snakes can attack your cats. Obviously you're whipping up ethnic sentiments to score brownie points with the Igbos to help further your cause.


Buhari's policies affect us all, mostly negatively. Who do these supposed maligned Igbo traders sell their wares to? Nigerians - a pot pouri of persons from hundreds of ethnic groups. We (the masses) end up bearing the brunt of the extra costs on import duties, the widening gulf in foreign exchange rates, the prejudice of being from from one of the many bases of terrorist groups and other such negative attributes appellated to his administration.

Buhari's policies are bad (and that's putting it euphemistically) but they are NOT targeted solely at the Igbos but at Nigerians who over the decades have been taken for a ride and whose gullibility for being tricked into the pseudo-change mantra is now being repaid by an elitist government.


"Sai Buhari", anyone? No response? I thought as much. Enjoy the "change".
[/b]

enigma2007:


Cant find any info that as well. CramJones should post a link to such article announcing the move!

cramjones:
Many people have been saying that Buhari means well with his economic policies including my humble self, however, haven discussed with many people and studying who are affected the most, I am convinced to say that whilst Buhari's economic policies affect all Nigerians, the group it affects the most in a disportionate manner are the Igbos. When you examine most of these policies you would think that Igbos are specifically being targeted on all fronts. Let us examine the facts one after the other.

1. According to Vanguard news today, it was stated that Buhari's government have moved Lagos clearing house for imports to Kano. We all know that almost half of Lagos are occupied by Igbos. Igbo business men around the country have their networks in Lagos, and all they have known for many years is clearing their goods in Lagos. Moving it to Kano only adds to their cost without a concomitant value. Does it affect all business men, including hausas? Yes of course, but we all know that at least 70% of imports in Nigeria are carried out by Igbo business men all over Nigeria. This is NOT a good policy in my opinion it creates bad blood for the average Igbo business man, and make life even tougher for them.

(Link here http://www.vanguardngr.com/2016/01/igbo-traders-bemoan-buharis-economic-policies-harsh-business-environment/)

2. The dollar policy has also disproportionately affected Igbos. Most Igbos have had to close business, because they cannot even find the dollar to pay for their imported goods. Worse still businessess that have millions of USD turn over, are prevented by the banks to collect their money, with the bank claiming they do not have dollar. This essentially grinds businesses and further makes the economy slip into oblivion. Does this policy affect other non-Igbo importers? Ofcourse yes, but given that Igbos are the engine of all of our imports in Nigeria, we can safely say that they are disproportionately affected.

3. Two days ago the APC government of Ambode, who in my opinion has been a confused governor, unable to just keep up with what Fashola has done, ordered that Oshodi market be destroyed. This is one of the largest market places in Nigeria and West Africa. Is it a bad policy to destroy Oshodi market for developmental reasons? Absolutely not, depending on its intent. However, what is bad policy, is when you do not give any notice, no alternatives, and then destroy peoples business that took many years to build, throwing thousands off their employment, and making many more people jobless. This is barbaric to say the least. Which group of people dominate Oshodi market? Igbos ofcourse. By many accounts, Igbos make up 85 - 90% of the traders in Oshodi. Was it a way of telling the Igbos that they are not needed in Lagos? Who inspired Ambode to take such actions?

I won't go further than this, but one thing is clear, PMB would have to thread carefully, or else what he thinks he is trying to make better, would only make the country worse. We do not need another civil war, policies like this only make Nigeria more polarized and ungovernable.

God Bless the Federal Republic of Nigeria

-CramJones

Ephemmm:
Though not an economist, but you can just put dust into my eyes because I had B2 in economics during my secondary school days

1. Increase in the cost of goods have little effect on middlemen, consumers who are mostly not Ibos would be at the receiving end: how has this affected only Ibos if I may ask?

2. You also said that the dollar policy has also disproportionately affected Igbos because most Igbos have had to close business, because they cannot even find the dollar to pay for their imported goods. The simple understanding of demand and supply will tell you that the lower the supply, the higher the price: consumer will also be at the receiving end in that the little available imported product will be costlier than before. You need to wake up from your slumber.

3. Destruction of Oshodi market is a good move in my own opinion: its existence does more harm than good. Apart from the fact that the market habours bunch of criminals, its arrangement and design is an eyesour in Lagos metropolis.

However, I prefer to believe that my grandma is a virgin till date than believing that nobody was giving notice. Besides, LASG has both ownership and possession of the market: why the gnashing of teeth?

Consumers, who are mostly non-ibos are king when it comes to business activities: no business activities can survive if they don't exist. That is why it will be more easier for an horse to pass through the needle's eye than for all Ibos to go back to Biafra(availability of market/consumer).

Anything that affect Ibos business will bring about rise in the price of imported product: consumers will bear its resultant effect. A visitor to the house of bereaved has no reason to cry more than the child of the bereaved: stop being tribalistic.

ibadanfinest:
Hypocrite Igbos,

Who are those constantly speaking against Buhari.

FFK and Fayose which shows that Yoruba are democratic.

Who are those Igbo really speaking against Buhari and pls don't mention KANU o.

All am saying is, stop thinking all Yoruba supports Buhari, its not possible ni.

I

justbusy:

When a man speaks, you'll know his level of civilization. Get yourself some education!