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Nairaland Forum / Nairaland / General / Business / FG Slashes Import Duties On 115 Items (27433 Views)
Uk Slashes Import Of Nigerian Oil By 60% / FG Raises Import Duties On Luxury Goods, Food Items That Have Local Alternatives / Government Raises Import Duties On Consumable, Luxury Goods (2) (3) (4)
Re: FG Slashes Import Duties On 115 Items by repogirl(f): 8:47am On Jan 05, 2017 |
Have they reduced naira to dollar also? |
Re: FG Slashes Import Duties On 115 Items by Youngzedd(m): 8:56am On Jan 05, 2017 |
Sai Baba. If the price of these materials don't come down, we all shall embark on operation destroy the factories. |
Re: FG Slashes Import Duties On 115 Items by Enice(m): 9:13am On Jan 05, 2017 |
careytommy7:simple comprehension you cannot decipher because your heart is full of hate. How would you understand complex issues. The import duty on MACHINERY of industries such as cement, iron and steel, etc Were reduced Not the duty on finished products. 2 Likes |
Re: FG Slashes Import Duties On 115 Items by Enice(m): 9:27am On Jan 05, 2017 |
riczy:you are the confused and inconsistent one here. You read a concoted half baked story being spread by haters and vultures on the net. Without getting the big picture, you rush to say Buhari is a dullard. Now you know the truth, you say the govt is confused. |
Re: FG Slashes Import Duties On 115 Items by lastmessenger: 9:29am On Jan 05, 2017 |
U did not read tit: |
Re: FG Slashes Import Duties On 115 Items by Enice(m): 9:40am On Jan 05, 2017 |
Integrityfarms:Blind hatred would not let you see the benefit of this policy. Those products we have the potential to product were banned or import duty increased. Those industries that were upcomming were either increased or reduced as the case may be. Those that we could do nothing about were reduced to zero. Criticize constructively pls. |
Re: FG Slashes Import Duties On 115 Items by QuotaSystem: 9:42am On Jan 05, 2017 |
giddykay: The expected effect is not in the direct reduction in price of goods, but the revival and increase in economic activities as a result of reduced cost of business, which will lead to job creation, revival of moribund industries, more competitive exports etc. I get your point though. 2 Likes |
Re: FG Slashes Import Duties On 115 Items by xxgig(m): 9:45am On Jan 05, 2017 |
riczy:increase duty to discourage certain kinds of import, and duties are reduced to encourage imports in sectors that will stimulate critical sectors of the economy 1 Like |
Re: FG Slashes Import Duties On 115 Items by Enice(m): 9:46am On Jan 05, 2017 |
chronique:Aba boys just made Army boots for the Army. 1 Like |
Re: FG Slashes Import Duties On 115 Items by QuotaSystem: 9:49am On Jan 05, 2017 |
odogwubiafra: Ironically the reduction of those levies will actually boost the availability of forex because manufacturing and export activities will be incentivised. There is no problem with the man piloting the affairs of this country, the problem is with you who never wants to see anything positive about his administration because of self destructive hatred and bigotry. |
Re: FG Slashes Import Duties On 115 Items by chronique(m): 9:55am On Jan 05, 2017 |
Enice: How is that supposed to be my business? I should have the liberty to buy what I choose. I have bought naija made sneakers 5 times in just over a year and they are not of good quality. |
Re: FG Slashes Import Duties On 115 Items by Originalsly: 10:23am On Jan 05, 2017 |
idupaul:Reduction in the tariff for imported tomatoes? .... regardless if tomato paste, preserved, whatever... in fact it should be banned. And reducing tariff on synthetic organic food colouring? ... ?.... is it synthetic or organic? ..synthetic colourings lead to health problems. Good news indeed. |
Re: FG Slashes Import Duties On 115 Items by Enice(m): 11:03am On Jan 05, 2017 |
Kennyquestt:the literacy level on nairaland is becoming too low for my liking. Illiterates everywhere. What will the zero import duty on machinery do to an economy? Boost the industries which will in turn create emploment and economy of the area. What would an increase in import duty do to an economy? Increase revenue, encourage local production and inturn employment. Okay! 1 Like |
Re: FG Slashes Import Duties On 115 Items by Nobody: 11:06am On Jan 05, 2017 |
what about the metalurgical industry? I see that its been given much consideration 'In the same vein, the government also approved a reduction from 10 per cent to five per cent for tubes , pipes , hoses , sheets , foil , tape , polyethylene , paper and paper board , yarn , synthetic staple fibres , semi -finished products of iron or non - alloy steel , stranded wire ropes , and completely knocked down or unassembled for the assembly industry'. But then, they want to revive Ajaokuta this year? 'Minister of Mining and Steel Development, Dr. Fayemi Kayode, had assured that Federal Government would settle the litigations between it and Global Steel. He said the company had been partly concessioned and that the process would be completed in 2017 for the company to be on its feet, running in full capacity of 5.2 million tonnes per year.' http://www.financialwatchngr.com/2017/01/02/budget-2017-ajaokuta-steel-gulp-n6-2bn/ Isnt that counterproductive or is it just temporary. ? Before your baby learns to walk you are taking away its reason to be alive? Prof Ha joon Chang Keeps saying that the developed countries are to blame for our issues- did they lobby for the tariff on steel to be reduced? why is there no discussion about Modular refineries? the raw materials to make most of these imported items can be produced by a few modular refineries abi dem no know? refineries produce the hoses, and polyutherene, the resins and even the fuel to run the machines that we are now allowed to import at no cost. we will import the machines, import the fuel and import the semi-finished raw materials to be used to make the products? can we really compete in the global market like that? I once got soo mad at my younger brother about this issue and wrote a rant - about the fact that only about four or five industries are needed to fix any nations- steel, cement, petroleum products and power. i just republished it to hear what Nairalanders think pls ignore the obvious typos.and Horrible writing http://ogaeconomist..co.uk/2016/12/the-main-industries.html Someone should please get the Government to watch Professor Ha joon Chang's lecture at the last annual Adebayo Adedeji lecture (Adebayo Adedeji kindof created Ecowas and NYSC in his spare time - bad guy.) http://www.uneca.org/cfm2016/pages/annual-adedeji-lecture-2016 here it is. https://www.youtube.com/watch?v=qNsK4RjaXz4&list=PLGDBRV0FcIwfVjph_NdB0n3av23Cc5SVO&index=3 to save you the time, Ha Joon chang said, protect your baby industries, that is what the USA did, that is what South Korea did, that is what Japan did, that is what Germany did and that is the fastest way out of your issues. note that he is the reader of cambridge university and one of the best Economic Minds in the world and he has accused the UN directly of keeping poor countries poor while helping rich countries become richer. those with good internet connection and time pls do check him out on youtube. his lectures are free there. and those with Money please buy his books and borrow me jarey . . anybody get Daddy Adebayo Adedeji number? Ahtink them send am free copies? make I follow read. #info_overload ahhh. and check out my misc page https://www.facebook.com/ogaeconomist what do you think? i know i cant write already, 1 Like |
Re: FG Slashes Import Duties On 115 Items by Enice(m): 11:22am On Jan 05, 2017 |
chronique:keep buying those sneakers. You are being patriotic. 2 Likes |
Re: FG Slashes Import Duties On 115 Items by lonelydude: 11:27am On Jan 05, 2017 |
I don't think I have said this before but let me say it now: GOD BLESS BUHARI BECAUSE I JUST GOT A BUSINESS IDEA FROM THIS NEWS WHICH I AM STARTING RIGHT AWAY. 2 Likes |
Re: FG Slashes Import Duties On 115 Items by iaatmguy(m): 12:51pm On Jan 05, 2017 |
riczy:did you read the topic at all. ? |
Re: FG Slashes Import Duties On 115 Items by iaatmguy(m): 12:55pm On Jan 05, 2017 |
careytommy7:Did you read the topic at all? Or you just want to spite the FG IT said MACHINES And EQUIPMENT USED IN cement not cement it self, 1 Like |
Re: FG Slashes Import Duties On 115 Items by iaatmguy(m): 12:57pm On Jan 05, 2017 |
lonelydude:please share |
Re: FG Slashes Import Duties On 115 Items by saddabm(m): 1:35pm On Jan 05, 2017 |
lonelydude:May God have abundant blessings upon you if you can contribute to the economy of this nation. |
Re: FG Slashes Import Duties On 115 Items by Billygee2u: 1:42pm On Jan 05, 2017 |
adioolayi: |
Re: FG Slashes Import Duties On 115 Items by Bamss1(m): 3:11pm On Jan 05, 2017 |
riczy:wat did u read three days ago? |
Re: FG Slashes Import Duties On 115 Items by Bamss1(m): 3:20pm On Jan 05, 2017 |
Kennyquestt:jeeeeezuz christ!!! it wld av been better u kept kwayet ooo |
Re: FG Slashes Import Duties On 115 Items by odogwubiafra: 3:31pm On Jan 07, 2017 |
QuotaSystem: Even the blind almajiris are feeling the negativity in Buhari's government, and with your two "necked" eyes you can not see it. Maybe there should be a redefinition of HANDICAP. |
Re: FG Slashes Import Duties On 115 Items by Kennyquestt: 9:24pm On May 02, 2022 |
Enice:Hmmm Mr literate how market, with all your ignorant economic analysis that you don't even know how to marry indices yet you call people illiterate.So how is your economy now? |
Re: FG Slashes Import Duties On 115 Items by Kennyquestt: 9:27pm On May 02, 2022 |
Bamss1: Someone like is no doubt bereft of knowledge and information but jumps into criticising people without reasoning. Anyway, you are as good all the failed Nigeria economic policies. |
Re: FG Slashes Import Duties On 115 Items by Kennyquestt: 6:58pm On May 05, 2022 |
Bamss1:You are truly bereft of knowledge and information. In your mind you know simple economics. Macro economics goes beyond your reasoning anyway. |
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