Dollar, Nigeria And You. - Business - Nairaland
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| Dollar, Nigeria And You. by TWOYANSH: 9:29pm On Apr 01, 2017 |
I'm neither party affiliated nor politically motivated, so I would implore you to take some time, read this slowly and with an OPEN MIND. The recent fall of naira has brought hardship on us all. Ranging from the sharp, sudden rise in the prices of foodstuffs, electronics, consumer goods, services and so on. The government was aware and reacted by the introduction of different policies like the importation ban on some certain type of products, FOREX policies, foreign spending limit ($100)...and a myriad of other policies. But I think that by trying to force the exchange rate down, we're simply fighting a lost battle. HOW? As soon as I started writing this article, power (electricity) was cut. I paused for a moment to think. WHY was the power cut, WHAT is the government doing about it?, WHAT plan or blueprint does the minister of power have, WHEN would electricity be stable...HOW...WHERE...I kept asking myself. If electricity was stable, I think we would all care less about the exchange rate. This works in 2 ways. Homemade products & services, and Foreign goods and services. Permit me to briefly analyze how this works. Have you noticed how the price of soft drinks have soared?, very soon, PET (plastic) Coke would start selling for #150. But they are made right here. These companies were opened primarily for profit making. After analyzing its cost of production (even after trying to reduce the quality of its goods), its goods would have to be pegged at a reasonable price that would generate profit for it. If these "home based" companies/industries/plants could talk, they would scream "electricity". Do you know how much diesel is bought on a monthly basis in this companies?. Now imagine if electricity was stable; 1gb of internet data would be too expensive if it's sold at #500. Now, the foreign products. Let's take Toyota car as an example. Do you know these foreign car companies only have a " servicing/maintenance" unit, the highest being an "assembling" unit in this country. Imaging importing these cars, your jaws would drop if you know how much shipping companies charge, talkless of the cost of clearing from ports. Imaging we have a Honda manufacturing plant right here in Nigeria, or a Tecno phone manufacturing plant in this country. Their products would be cheap and affordable. Why don't we have them here in Nigeria?, our business climate is not conducive; a major factor being electricity. I can beat my chest that these companies would invest here if we can have a stable power supply. In a nutshell, the government should focus more on power rather than fighting a lost battle with the dollar. Written by K.I.I. |
| Re: Dollar, Nigeria And You. by Nobody: 9:41pm On Apr 01, 2017 |
you choose my color so had to use blue You see bro, I was actually discussing this power is with my mum today. In my area, electricity is problem. They will take the light around 8am to bring it bk by 5pm.whe all businesses are closed for the day. Then take it again by 8pm to bring it bk 1am.it keeps looping like that every single day. Everybody was shouting privatize Nepa,now they've done so it even the worst. This country is among the most corrupt, dirtiest, place to live in. With mosquito everywhere. Tụfịakwa I regret with my life for ever being a Nigerian.. |
| Re: Dollar, Nigeria And You. by biafranbaby(m): 9:50pm On Apr 01, 2017 |
Illiteracy is the problem. |
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