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Government Raises Import Duties On Consumable, Luxury Goods - Business (5) - Nairaland

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List Of 115 Items To Enjoy FG Import Duties Cut / FG Slashes Import Duties On 115 Items / FG Raises Import Duties On Luxury Goods, Food Items That Have Local Alternatives (2) (3) (4)

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Re: Government Raises Import Duties On Consumable, Luxury Goods by erico2k2(m): 2:26pm On Dec 29, 2016
rusher14:


Do you understand we have also devalued our Naira?

Your analysis could be better if only you operate without bias.
Wow devalued a big WORD
What was your stance when the likes of me where urging the FG to devalue the naira donkey montjs ago ? You should not use that as a yardstick for ur arguments cos the equation operated y this FG put us in this mess in 5 he first instance . If he had done the needful by devaluing the naira there amd then .the confidence of investors would have increased and less speculation . U want me to go on??
Re: Government Raises Import Duties On Consumable, Luxury Goods by Nobody: 2:30pm On Dec 29, 2016
APCmyheart:



Yes we are importing salt can oyu imagine, The duty should be raised to 100%
we are not producing enough to go round. Our govt or private individuals should see to that.
Re: Government Raises Import Duties On Consumable, Luxury Goods by repogirl(f): 2:30pm On Dec 29, 2016
seguno2:
Let us hope that Buhari will not spoil everything by giving import duty WAIVERS to his cabal.
That is how he gave heavily DISCOUNTED foreign exchange rate to Dangote making him a mega monopolist.
or open our borders into Niger where cars and other goods can be smuggled in illegally

1 Like

Re: Government Raises Import Duties On Consumable, Luxury Goods by APCmyheart(m): 2:34pm On Dec 29, 2016
erico2k2:

Have you seen the machine that does tooth pick ? Do you know howmuch it is to buy from china then howmuch it takes to power it ? You will run at a loss cos of high overhead . If the FG reduces your overhead in tax breaks and zero %on import duties of said machine see if the person you quoted won't derv into that biz.


I guess you did not read the write up at all...

1 Like

Re: Government Raises Import Duties On Consumable, Luxury Goods by APCmyheart(m): 2:36pm On Dec 29, 2016
erico2k2:

Ahah these guys are funny . Don't believe everything you read in the news . Do you know who now hold the contract for securing the pipelines ?


So you mean they have not been bombing pipelines cos i dint get you...
Re: Government Raises Import Duties On Consumable, Luxury Goods by APCmyheart(m): 2:37pm On Dec 29, 2016
erico2k2:

Have you ever been to a salt factory ? Have you seen what crude salt looks like ? ?


So then we should importing salt abi?

1 Like

Re: Government Raises Import Duties On Consumable, Luxury Goods by rusher14: 2:37pm On Dec 29, 2016
erico2k2:

Wow devalued a big WORD
What was your stance when the likes of me where urging the FG to devalue the naira donkey montjs ago ? You should not use that as a yardstick for ur arguments cos the equation operated y this FG put us in this mess in 5 he first instance . If he had done the needful by devaluing the naira there amd then .the confidence of investors would have increased and less speculation . U want me to go on??

Whether or not that was your suggestion many moons ago it doesn't change the fact that it was eventually done.

You cannot remain oblivious to facts staring you in the face.

The Naira had to be devalued which your sort of have admitted to. The prevailing rate determines the size of our budget and not some wishful figures.

So back to the issue, larger budget based on devaluation of the local currency. The specific issue of this thread is government encouraging import substitution.

Anyone can complain about anything (size of birthday cake, colour of car, why you are 6 ft instead of 6ft 1 etc.) so expecting people to agree on stark issues would never always happen. Regardless of this, the government of the day in my opinion, has made the right decision in increasing import tariff on luxury goods while decreasing that for machinery that aid local production.

1 Like

Re: Government Raises Import Duties On Consumable, Luxury Goods by erico2k2(m): 2:38pm On Dec 29, 2016
APCmyheart:



So you mean they have not been bombing pipelines cos i dint get you...
You did not get me ?
Let me make it clear again
DO YOU KNOW THE PEOPLE WHO HAVE THE CONTRACT TO SECURE THE PIPELINES?
Hope this is clearer .
Re: Government Raises Import Duties On Consumable, Luxury Goods by APCmyheart(m): 2:38pm On Dec 29, 2016
porozhniy:
it's your choice, but pls stop insinuating that Nigeria didn't produce rice prior to the birth of this Administration.


Sure we produe Ofada now and even Abakaliki rice.
Re: Government Raises Import Duties On Consumable, Luxury Goods by erico2k2(m): 2:41pm On Dec 29, 2016
rusher14:


Whether or not that was your suggestion many moons ago it doesn't change the fact that it was eventually done.

You cannot remain oblivious to facts staring you in the face.

The Naira had to be devalued which your sort of have admitted to. The prevailing rate determines the size of our budget and not some wishful figures.

So back to the issue, larger budget based on devaluation of the local currency. The specific issue of this thread is government encouraging import substitution.

Anyone can complain about anything (size of birthday cake, colour of car, why you are 6 ft instead of 6ft 1 etc.) so expecting people to agree on stark issues would never always happen. Regardless of this, the government of the day in my opinion, has made the right decision in increasing import tariff on luxury goods while decreasing that for machinery that aid local production.
All what you said still amount to you maintaned stance
In my opinion the FG is not being fair to importers . I see no tax brakes to encourage anyone on there . I made reference to toothpick machinery
Re: Government Raises Import Duties On Consumable, Luxury Goods by erico2k2(m): 2:43pm On Dec 29, 2016
APCmyheart:



So then we should importing salt abi?
Do you have any option?
We do not have crude salt in Nigeria we only ha e salt refinances so it is nothing to be ashamed about .
Re: Government Raises Import Duties On Consumable, Luxury Goods by rusher14: 2:45pm On Dec 29, 2016
erico2k2:

All what you said still amount to you maintaned stance
In my opinion the FG is not being fair to importers . I see no tax brakes to encourage anyone on there . I made reference to toothpick machinery

You want tax break rather than reduction?

Make your argument known to your congressman, your local chamber of commerce, your manufacturing union your trade union.

1 Like

Re: Government Raises Import Duties On Consumable, Luxury Goods by APCmyheart(m): 2:49pm On Dec 29, 2016
erico2k2:

You did not get me ?
Let me make it clear again
DO YOU KNOW THE PEOPLE WHO HAVE THE CONTRACT TO SECURE THE PIPELINES?
Hope this is clearer .


Oh.. do you mean under GEJ or under this Govt?

1 Like

Re: Government Raises Import Duties On Consumable, Luxury Goods by erico2k2(m): 2:51pm On Dec 29, 2016
APCmyheart:



Oh.. do you mean under GEJ or under this Govt?
I'm talking now now as we speak
Re: Government Raises Import Duties On Consumable, Luxury Goods by abumeinben(m): 2:52pm On Dec 29, 2016
APCmyheart:



When did we started producing rice? But this year we eat local Rice..

Oh...You mean the common food that has become luxurious that we had to queue up to buy?
Re: Government Raises Import Duties On Consumable, Luxury Goods by erico2k2(m): 2:53pm On Dec 29, 2016
rusher14:


You want tax break rather than reduction?

Make your argument known to your congressman, your local chamber of commerce, your manufacturing union your trade union.
Can't you see the difference ? Tax breaks value reduction ? China and the UAE have them . Hence every manufacturer shift base to China and thier goods are manufactured there what have we got to lose if we borrow that leaf?
Re: Government Raises Import Duties On Consumable, Luxury Goods by APCmyheart(m): 3:04pm On Dec 29, 2016
erico2k2:

I'm talking now now as we speak


Abeg who oooo? LOL
Re: Government Raises Import Duties On Consumable, Luxury Goods by rusher14: 3:04pm On Dec 29, 2016
erico2k2:

Can't you see the difference ? Tax breaks value reduction ? China and the UAE have them . Hence every manufacturer shift base to China and thier goods are manufactured there what have we got to lose if we borrow that leaf?

The government just initiated a reduction yet you complain. You have the right to and perhaps you are correct in your lamentation, yet the fact remains the government has tried to shed your burden.

If you think this isn't good enough, and I'm not in a position to say otherwise, please approach your congressman to lobby q governmental change. I don't think this is too much to ask.

2 Likes

Re: Government Raises Import Duties On Consumable, Luxury Goods by APCmyheart(m): 3:04pm On Dec 29, 2016
abumeinben:


Oh...You mean the common food that has become luxurious that we had to queue up to buy?


Yes if that how you will put it..

1 Like

Re: Government Raises Import Duties On Consumable, Luxury Goods by Nobody: 3:12pm On Dec 29, 2016
chronique:
The problem I have with this local production mantra, is that it encourages people to produce all manner of junks and substandard goods. I drank a locally produced wine on the 26th of december, and it tasted like diluted treetop. I know a lot of younger folks might not know what treetop is. It used to be one of the favorite drinks/juice for kids, way back in the 80's. Imagine an adult drinking such in place of wine? I had to stop using Irish spring in bath ing after they banned the imported ones cos the locally produced one, is all soda, and burns my skin. I now use dudu osun at all cost.

In Nigeria, we are crazy about foreign things. Even in the U.S, I used Dudu Osun. Think about it this way, if you support local industries they will become more competitive and better. America does not import things like food, sardine, soap etc. They are made here. And they provide jobs and help the economy. The era of importing everything is long gone. Anyone that wants to tap into the huge Nigerian market should come and setup in Nigeria. We are not dumb. Even Donald trump said the same thing about the U.S during his election.

3 Likes

Re: Government Raises Import Duties On Consumable, Luxury Goods by erico2k2(m): 3:24pm On Dec 29, 2016
APCmyheart:



Abeg who oooo? LOL
Oga na question I ask you know abi you nor know ?
Re: Government Raises Import Duties On Consumable, Luxury Goods by erico2k2(m): 3:26pm On Dec 29, 2016
12inches1:


In Nigeria, we are crazy about foreign things. Even in the U.S, I used Dudu Osun. Think about it this way, if you support local industries they will become more competitive and better. America does not import things like food, sardine, soap etc. They are made here. And they provide jobs and help the economy. The era of importing everything is long gone. Anyone that wants to tap into the huge Nigerian market should come and setup in Nigeria. We are not dumb. Even Donald trump said the same thing about the U.S during his election.
Why U dey lie ? Which America does not import food ?
Everyone import food . What you will tell me is that they can match the volume in export
Re: Government Raises Import Duties On Consumable, Luxury Goods by erico2k2(m): 3:30pm On Dec 29, 2016
rusher14:


The government just initiated a reduction yet you complain. You have the right to and perhaps you are correct in your lamentation, yet the fact remains the government has tried to shed your burden.

If you think this isn't good enough, and I'm not in a position to say otherwise, please approach your congressman to lobby q governmental change. I don't think this is too much to ask.
Oga this is Nigeria no congress men here.I have tried in doing business in Nigeria for ages I know the people fustian in development. You might be very suprised whom.all we hear is increas increase . They are increasing salt and we think that is ok when there are no such substitute . They sold the fee refinaries state owneed now they want to increase importation of Crude salt . We know who this will favour .
Re: Government Raises Import Duties On Consumable, Luxury Goods by crisycent: 3:30pm On Dec 29, 2016
APCmyheart:



Tell your brother to stop bombing pipelines.

We won't stop. As a matter of fact by next year, it will be 0bpd!!!
Re: Government Raises Import Duties On Consumable, Luxury Goods by crisycent: 3:31pm On Dec 29, 2016
9jakohai:


I guess we can regard the measures as the government putting pressure on itself to do the needful.....by making sure power is improved as well as transport.

And yes, we do need to change our economic policy. The reason why we have issues with our economy from independence is because we rely too much on income from selling crops and minerals.That is not the road to prosperity.

And imported goods prices are going to go higher because we do not have the forex to buy them....duties or not.

I just hope the government policy works this time.

You said it all.....just "hope".
Re: Government Raises Import Duties On Consumable, Luxury Goods by rusher14: 3:33pm On Dec 29, 2016
erico2k2:

Oga this is Nigeria no congress men here

Really?

https://en.m.wikipedia.org/wiki/Member_of_Congress
Re: Government Raises Import Duties On Consumable, Luxury Goods by erico2k2(m): 3:44pm On Dec 29, 2016
rusher14:


Really?

https://en.m.wikipedia.org/wiki/Member_of_Congress
Do you live in the USA ?
If yes I will understand why you are suprised . The word congressmen has no place in Nigeria politics . We don't have congress like the US does in the UK we have members of parliament or MP in Nigeria we have senators .
Re: Government Raises Import Duties On Consumable, Luxury Goods by rusher14: 3:47pm On Dec 29, 2016
erico2k2:

Do you live in the USA ?
If yes I will understand why you are suprised . The word congressmen has no place in Nigeria politics . We don't have congress like the US does in the UK we have members of parliament or MP in Nigeria we have senators .

It's not locally used I'll admit but it is a correct term.
Re: Government Raises Import Duties On Consumable, Luxury Goods by Nobody: 4:51pm On Dec 29, 2016
Okeyson4wisdom:
what is this one saying sef na you plant the companies that will surface.
If we ban importations of finished goods or raise high taxes on them, it will make even those chinese companies that produce those goods to come to our country to open their industries and this will help naira and also provide jobs. It will provide jobs for both our raw material dealers and also the company workes. Our government will still rip tax from them. When the finished goods is exported to other African countries it will help our foreign exchange
Re: Government Raises Import Duties On Consumable, Luxury Goods by Saintp(m): 4:56pm On Dec 29, 2016
Gerrard59:


. Thank you very much. I operate a business where we spend 2MN+ naira annually on electricity alone. That's more than we invest back into the business, more than staff salaries, more than what we spend on food, clothing, transportation, school fees. We're in the service industry and one can imagine what entrepreneurs in the industrial sector pass through.

In other words, I spend more on diesel than food(an essential need). I have not seen light for six hours straight in a day, yet I pay taxes monthly both federal and state, electricity bills, everything.


Useless country.

I understand your plight cos I have been there. Manufacturing in this country no be moi moi. What this stupid policy will do is increase the hardship x2. They should do the right things first and importation would even die a natural death. As a person, having tasted the bitter pills of manufacturing in this country, I can't put my 1kobo cos it is a risk and I may not break even cos the products will be expensive. Our govt should stop playing to the gallery, there is no short cut to end importation in this country. Fix power n other infrastructures then every other thing will fall in place.

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