It quite commendable for FG to take this bold step many of us might not aware of the good side but very soon this country will regain her lost glory.
Is high time to cultivate habit of consuming locally produced commodities and do away with those we can not produce for the time being, allowing foreign country uses our dear country as dumping ground is no more.
Virtually across all streets in Lagos there present was OKRIKA joints where all residents hand picked various dressing ranged from, shirt, skirt, trousers, belt, bags and nails...... Name it all are TOKUNBO.
This always pisses me off and posed danger of shaking OKIRIKA human being unaware.
Must we continue like this as a nation? When are we going to be proud of our own makings? When are we going to stop wearing ALOKU OYINBO and still paraded ourselves as big boys/girls, when our celebrities will stop living large in OKIRIKA attires when and when are we going to get it right in this country?

okay bad

Trut:


How many items are you manufacturing? It's easy to manufacture by typing on Nairaland.

Whatrever


Let them come together and corporatize

I understand and I feel their pain but things will get worse before it gets better

As you can see, our local industries are growing.

Ehn let them carry their toothpicks to Cotonou. We dont have any forex to waste on frivolities

Everybody just dey talk the things wey favor him

clintwine:
It is not necessarily a bad development, its actually a good one and working
It means that Imports are almost halving, now we can look at increasing our exports and boosting our economy with locally made things
It is silly that we were importing toothpicks

we should be looking at 50% reduction in imports and 50% increase in exports
that way we would have a stronger economy and stop depleting the foreign reserves

now that we know the items are being diverted to Cotonou, the government should deploy more custom officers towards that border
and make sure that we get every revenue from legal items coming in from that end
every illegal item should be confiscated and sent to IDP camps and displaced people, then the rest auctioned to families with less than a certain household income

Change means that we have to adjust and make some scarifies for the betterment of our collective tomorrow, nobody said it will be easy
Let us start thinking of what we can export and sell,

Before someone says locally made items are sub-standard,
we said that about Chinese items many years ago, now see how strong they have grown and the quality of items they are producing

Brilliant post!

Many brainless buffoons have been seeing it as a problem. You want to waste the forex that u dont have to import toothpicks Dumbasses!

Closedoor:



Your foolishness is indescribable.

enjoy brother cause am not to stoop so low to exchange words with you as stupid people do. remember this is public forum and it is unfortunate that you decided to showcase your stupidity here

clintwine:
It is not necessarily a bad development, its actually a good one and working
It means that Imports are almost halving, now we can look at increasing our exports and boosting our economy with locally made things
It is silly that we were importing toothpicks

we should be looking at 50% reduction in imports and 50% increase in exports
that way we would have a stronger economy and stop depleting the foreign reserves

now that we know the items are being diverted to Cotonou, the government should deploy more custom officers towards that border
and make sure that we get every revenue from legal items coming in from that end
every illegal item should be confiscated and sent to IDP camps and displaced people, then the rest auctioned to families with less than a certain household income

Change means that we have to adjust and make some scarifies for the betterment of our collective tomorrow, nobody said it will be easy
Let us start thinking of what we can export and sell,

Before someone says locally made items are sub-standard,
we said that about Chinese items many years ago, now see how strong they have grown and the quality of items they are producing

I agree!

AlmuFty01:
It quite commendable for FG to take this bold step many of us might not aware of the good side but very soon this country will regain her lost glory.
Is high time to cultivate habit of consuming locally produced commodities and do away with those we can not produce for the time being, allowing foreign country uses our dear country as dumping ground is no more.
Virtually across all streets in Lagos there present was OKRIKA joints where all residents hand picked various dressing ranged from, shirt, skirt, trousers, belt, bags and nails...... Name it all are TOKUNBO.
This always pisses me off and posed danger of shaking OKIRIKA human being unaware.
Must me continue like this as a nation? When are we going to be proud of our own makings? When are we going to stop wearing ALOKU OYINBO and still paraded ourselves as big boys/girls, when our celebrities will stop living large in OKIRIKA attires when and when are we going to get it right in this country?

You will be disappointed.

Countries don't grow rich by being self sufficient but by focusing resources where you have comparative advsntage.

Look at whst the oil industry has done for Nigeria. Imagine if the country had 4 industries like that.

The more you open up your country the richer you become.Countries thst try to be self sufficient tend to be associated with poverty and not wealth. A good example is India but it hsd repented.

Imports have never bern the counyry's problem. It is thay the country does not export

I don't know why people are so dumb on Nairaland. There is difference between Forex restriction and import restriction. The first one means CBN will not sell importers dollars to buy the items while the second means the items are not allowed into the country. So for the first items which are under Forex restriction, importers now open offices in Benin, and deal with Benin banks who do not have problem selling Forex to them for these items. Once the items arrive Benin, they are moved on land through the boarders, duties and levies are paid officially and into Nigeria. Although they now have to clear the items twice, but cost of clearing at Benin is very minimal.

Keep deceiving yourself.

clintwine:
It is not necessarily a bad development, its actually a good one and working
It means that Imports are almost halving, now we can look at increasing our exports and boosting our economy with locally made things
It is silly that we were importing toothpicks

we should be looking at 50% reduction in imports and 50% increase in exports
that way we would have a stronger economy and stop depleting the foreign reserves

now that we know the items are being diverted to Cotonou, the government should deploy more custom officers towards that border
and make sure that we get every revenue from legal items coming in from that end
every illegal item should be confiscated and sent to IDP camps and displaced people, then the rest auctioned to families with less than a certain household income

Change means that we have to adjust and make some scarifies for the betterment of our collective tomorrow, nobody said it will be easy
Let us start thinking of what we can export and sell,

Before someone says locally made items are sub-standard,
we said that about Chinese items many years ago, now see how strong they have grown and the quality of items they are producing

Freshboi:
While some people claim APC is synonymous with bad luck, consider these:
(1) Without the Nigerian border, the Republic of Benin is finished economically.
(2) these goods will still enter the Nigerian market via the land border. This translates to more revenue for the Customs service of the Nigerian state.
(3) It would reduce the burden on our major ports

No. The goods smuggled through the borders only fetch money for the corrupt custom officials, not for the government.

Your argument is one sided. There is significant reduction in revenue generated from Import duties and you think that is a good idea? Record low in crude oil price means the government is low on revenue and decrease in import duties will signal recession.

clintwine:
It is not necessarily a bad development, its actually a good one and working
It means that Imports are almost halving, now we can look at increasing our exports and boosting our economy with locally made things
It is silly that we were importing toothpicks

we should be looking at 50% reduction in imports and 50% increase in exports
that way we would have a stronger economy and stop depleting the foreign reserves

now that we know the items are being diverted to Cotonou, the government should deploy more custom officers towards that border
and make sure that we get every revenue from legal items coming in from that end
every illegal item should be confiscated and sent to IDP camps and displaced people, then the rest auctioned to families with less than a certain household income

Change means that we have to adjust and make some scarifies for the betterment of our collective tomorrow, nobody said it will be easy
Let us start thinking of what we can export and sell,

Before someone says locally made items are sub-standard,
we said that about Chinese items many years ago, now see how strong they have grown and the quality of items they are producing

Well ,when there is life there is hope. You are invited for something better. You shouldn't follow their part.
Click the link below for details.

http://akinniyifelix..com/2016/01/evg-new-business-skills.html

Be there its FREE!!! and you will learn a lot on how to be FREE Financially.

clintwine:
It is not necessarily a bad development, its actually a good one and working
It means that Imports are almost halving, now we can look at increasing our exports and boosting our economy with locally made things
It is silly that we were importing toothpicks

we should be looking at 50% reduction in imports and 50% increase in exports
that way we would have a stronger economy and stop depleting the foreign reserves

now that we know the items are being diverted to Cotonou, the government should deploy more custom officers towards that border
and make sure that we get every revenue from legal items coming in from that end
every illegal item should be confiscated and sent to IDP camps and displaced people, then the rest auctioned to families with less than a certain household income

Change means that we have to adjust and make some scarifies for the betterment of our collective tomorrow, nobody said it will be easy
Let us start thinking of what we can export and sell,

Before someone says locally made items are sub-standard,
we said that about Chinese items many years ago, now see how strong they have grown and the quality of items they are producing

Agreed.

xandy84:
Your argument is one sided. There is significant reduction in revenue generated from Import duties and you think that is a good idea? Record low in crude oil price means the government is low on revenue and decrease in import duties will signal recession.

With all due respect, he is making a whole lot of sense .No matter what revenue you make from import, we are still at a loss.

Buhari working against the interest of Nigerians since early seventies.

He did made lot of senses but reduction on import duties will only worsen our economy. How would the government finance the budget when all forms of revenue is gone. Record time low in crude oil price, reduction in importation necessarily bring about reduce taxes.

blueseacats:
With all due respect, he is making a whole lot of sense .No matter what revenue you make from import, we are still at a loss.

Islie:





http://thenationonlineng.net/forex-restriction-nigeria-loses-50-cargoes-to-cotonou-port/

The federal govt thought by so doing,they will grind the business of a specific tribe that contributes about 80% of importation to a screeching halt.

surrogatesng:
Is APC the cause?

No! na VPC cause am..

jmichlins:
enjoy brother cause am not to stoop so low to exchange words with you as stupid people do. remember this is public forum and it is unfortunate that you decided to showcase your stupidity here

Stupidity? Only a stupid man will say a man deserves hardship. I believe you said so. Stoop so low? Lol boy you couldn't spell omelet. I believe you can't reach up to my level. So remain there.

seunajia:
This silly news does not make any sense. Is it the forex restriction that unloads their freight in Lagos?!!!

These eejits are economic saboteurs. They are importing illegal items banned for import by the CBN through our backstabbing West African neighbours. They then smuggle these junks in through our porous borders.

It is not their fault, Nigeria is to blame for not securing her borders.

The need for better border control cannot be over-emphasised. If our borders with Niger, Chad and Cameroon were better policed, boko haram may have been a thing of the past.

That was how some animals in human form were taking money for subsidy and shipping petroleum products made cheap over the borders!

The present economics policies are s disgrace. Soludo snd Sanusi both decried them. The naira is heading to 400 by year end if it does not touch 500.

seunajia:
This silly news does not make any sense. Is it the forex restriction that unloads their freight in Lagos?!!!

These eejits are economic saboteurs. They are importing illegal items banned for import by the CBN through our backstabbing West African neighbours. They then smuggle these junks in through our porous borders.

It is not their fault, Nigeria is to blame for not securing her borders.

The need for better border control cannot be over-emphasised. If our borders with Niger, Chad and Cameroon were better policed, boko haram may have been a thing of the past.

That was how some animals in human form were taking money for subsidy and shipping petroleum products made cheap over the borders!

God bless you, l have seen and read what the #Wailers are writing!
These fools will blame Buhari, if they are caught robbing with a gun, afterall, that is the latest excuse in town!

Like you rightly observed, What has forex exchange rate got to do with "smuggling banned items" across our land borders, which Cotonou has made easier, with connivance from our Customs officer?


Did this smuggling just start under Buhari's Govt, ...that these #Wailing economic saboteurs are shedding blood-tears?

when Jonathan increased the Duty payable on imported vehicles about two years ago, did these saboteurs not turn to Cotonou to smuggle the vehicles in, through our land borders and Seme[b]? So, what is new now that these animals are #Wailing over?[/b]

Is it the freight forwarders who pilfer our vehicles at the port that should be asking the Govt to prevent honest and efficient foreign forwarder from operating in Nigeria?
Do they think we want to operate under the "Mafia" that they do in that port or remain backward when they have refused to embrace technology, since that would prevent them from achieving their usual pilfering? or do they think we dont know who are the "Wharf Rats"? Let them not just give us Lassa fever!

Infact, in a sane country, that Mr. Nicole should be arrested and jailed.
He has just reminded the Govt of Buhari to once and foreall, tackle the endemic corruption that Customs and Immigrations authorities perpetrate at that particular Border post of Seme.
They are the ones that prevent all policies of Govt from having the desired effect.
When Govt bans imported Rice so that we can encourage the Rice producer in Anambra, the same clueless indegene will be applauding the Customs man who takes bribe and allows that law to be broken, by allowing the smuggling of imported rice into the country! Who, pray me, is the loser, if not the rice producer in Anambra?
Ditto for so many other goods which can be produced locally but which these economic saboteurs who call it "hustle",, smuggle into the country.

It is obvious that those crying over most of the economic and fiscal policy of this Govt, are those whose stock-in-trade is CRIMINALITY.... and they are not finding it easy anymore.

The Govt of PMB needs to further tighten the noose around the neck of these criminals...until they are completely strangled.
Nigeria does not need criminals as business men, we need only honest and law abiding people to engage in business in Nigeria.
if it were to be China, most of them will be hanged but here, the fools still have the gut to grant Press conference!

True-true, yeye dey smell but they should just hold on, a new sheriff is in town and like Olisah metuh, its only a matter of time before the thing reach una.

If in doubt, ask the 'Dilector'!

Closedoor:


Stupidity? Only a stupid man will say a man deserves hardship. I believe you said so. Stoop so low? Lol boy you couldn't spell omelet. I believe you can't reach up to my level. So remain there.

education does not mean sense so while you parade degree cum stupidity, do not mention me again

This is arrant nonsense. So they are using CFA to buy the goods for importation or what!

If there is no FOREX for them to do the importation, How come they are diverting it to Cotonou.
The only reason for diversion is high custom duty and not FOREX restrictions!. If you have already sourced for FOREX to buy it Abroad, duty is paid in Naira! This man should tell us their main reason for diverting the goods to Cotonou abeg!.

Or are the Benin republic able to source the FOREX for them! even that, you will need to change Naira to CFA first na.

sauceny:


The federal govt thought by so doing,they will grind the business of a specific tribe that contributes about 80% of importation to a screeching halt.

You think you made sense with this nonsense you just posted?

Are you saying that this "specific tribe" is responsible for 80% of the smuggling in Nigeria and that they are responsible for most of the criminality going on in Nigeria?

If the Govt rebuilds a market, they are targeting this tribe
if Govt says No trading on Railway lines, they must be targeting this 'specific tribe'
If INEC uses PVC, they are targeting this tribe
If NAFDAc clamps down on those who produce "fake drugs", they must be targeting this 'specific tribe'
If New vehicles are bought for Police so they can discharge their duty effectively, they are targeting this 'specific tribe'!
If CBN passes policies to strengthen the economy, they must be targeting this 'specific tribe'
If weapons are bought for the Army, they must be to target this 'specific tribe'
If Government decides to fight piracy, they must be targeting this "specific tribe"
If Govt decides to ban importation of Sub-standard products, they must be targeting this 'specific tribe'
If "BVN" is introduced so as to check Kidnapping, they must be targeting this 'specific tribe'
If Govt deploys the security agencies to secure pipeline, they must be targeting this 'specific tribe'
If Govt decides to go tough of criminals who loot our treasury, they must be targeting this 'specific tribe'

Wetin? Are you saying its only this 'specific tribe' that practices all these criminality within Nigeria? Na waa o!
why dont this 'specific tribe' look itself in the mirror and "make that change"?

But I beg to disagree, a criminal is a criminal, be him Olisah Metuh, Sambo Dasuki, FFK, Mr. Dilector, Bafarawa, Dezianni Madueke, Bode George, Stealler Oduah or even Dokpesi... and the list is endless

APC govt of illiterate people...

clintwine:
It is not necessarily a bad development, its actually a good one and working
It means that Imports are almost halving, now we can look at increasing our exports and boosting our economy with locally made things
It is silly that we were importing toothpicks

we should be looking at 50% reduction in imports and 50% increase in exports
that way we would have a stronger economy and stop depleting the foreign reserves

now that we know the items are being diverted to Cotonou, the government should deploy more custom officers towards that border
and make sure that we get every revenue from legal items coming in from that end
every illegal item should be confiscated and sent to IDP camps and displaced people, then the rest auctioned to families with less than a certain household income

Change means that we have to adjust and make some scarifies for the betterment of our collective tomorrow, nobody said it will be easy
Let us start thinking of what we can export and sell,

Before someone says locally made items are sub-standard,
we said that about Chinese items many years ago, now see how strong they have grown and the quality of items they are producing

Lolz. U might not be wrong.


Now, look @ it from this angle.

Imports is halved by 50% in naija and is increased by 50% in cotonou. The maths is very simple. Nigerians diverted to using cotonou because of some trade restrictions.


But u also forgot that there is no trade restriction between Ecowas states, thus, anything from Benin can enter naija comfortably.


It did not stop anything @ all. All the restricted good by naija will be brough in tru Benin. The only thing it does is dat it makes naija get less revenue.






U have two road leading an estate, @ the entrance of any of the gates, there are two different tax collectors for anyone bring in goods to d estate( no restrictions as long as u pay ur tax) people @ both gates were collecting N20 per vehicle conveying goods to d estate. All of a sudden, gate A increased d tax to N30 or they started restricting some goods. While gate B maintained N20 or no restrictions. What do u think will happen to gate A? Are u telling me that those goods restricted by gate A will not find its way into gate B?















I am not saying that the restrictions are bad. But b4 u do certain things, create a plan to cover up the gaps.

Shift go one side Mr. Cargo!!!!!
Is it the FG that inported that shiit??

They tell you not to import but you never agree.........instead of improving our economy you are encouraging import here and there!!..........the Gov't won't lift any ban.... The sooner you realise the better!!!
Ordinary toilet paper una wan import......iddiots

In the word if a wrestler by name king Barrett "I GOT A BAD NEWS"!!!!!

One man's meat is another man's poison. Manufacturers are smiling, importers are crying. They should stop complaining. As astute business men, join the winning team. Simply switch to manufacturing. Its a simple matter.

grandstar:


You will be disappointed.

Countries don't grow rich by being self sufficient but by focusing resources where you have comparative advsntage.

Look at whst the oil industry has done for Nigeria. Imagine if the country had 4 industries like that.

The more you open up your country the richer you become.Countries thst try to be self sufficient tend to be associated with poverty and not wealth. A good example is India but it hsd repented.

Imports have never bern the counyry's problem. It is thay the country does not export

Useless fool. How are we going to replace the depleted dollar? Your advice will only lead the country to the IMF and they will devalue your currency and your worth (hence doom). Generational poverty!

If you want to consume foreign stuff go find your own dollar.