All bcs of 2019, is this d reason why u said rice will be 10k by June. OK ooooo. Continue.

I think the problem isn't the government but the people of Nigeria who only want to do buying and selling. The government has come to understand that the presure on the naira is actually coming from this importers who source their dollar from the black market. I suppose by doing what they are doing now it could reduce the number of people who go to the abokis thereby bringing down the exchange rate of the dollar. Forces of demand and supply.

Innomach:

The items were not banned but were restricted from officially assessing forex exchange to importing them. The restriction forced importers to start sourcing forex through parallel markets which ofcourse raised the demand for forex at the black market. Now that they have removed the restrictions, it then means that importers can once again officially apply for forex from the banks and not patronize the black marketers and of which they envisage to help crash the dollar rate. I hope you now understands how it relates

yes. thanks for the enlightenment. thought they were banned.

Unah Dan tire to BAN. . .

Splashme:
So, where is that gorilla from Ota Farm? What does he have to say?

I remember how Obasanjo insulted GEJ for allowing importation of toothpick

The man enjoys seizing every opportunity to insult GEJ.

Honestly, Jonathan is too humble for allowing Obasanjo to continue abusing him gleefully at every available opportunity. People will say seniority, but what sort of seniority is that? An old man that is refusing to respect himself.

u 're very shallow and silllly u could not even understand what's up there,ur sense of reasoning is stupe,pathetic and retqrrd,your Hero will still be known as the most cluelessss human ever

JohnXcel:
So you want to tell me we can't produce our own ''toothpicks''

SMH!

Even if we wanted... still have to import machine... buy generator and fuel... plus who will give you a good supply of raw materials... carton nko? By the time anybody wants to make toothpick... you realize it's far less hassle and less risky to just import.

ProfTea20:
silly news.

It should have read CBN lifts IMPORTATION ban on toothpicks, 47 others.

The ban was on importation to protect the Naira and not directly on forex. Besides, this does not have anything to do with forex deregulation.
Poor reporting.

Really? CBN lifts Forex ban on toothpicks ,47 others. means they would resume allocating Forex for the importation of toothpicks, 47 others...they were not banned.
CBN lifts import ban on toothpicks, 47 others means importation of toothpicks was banned ... whether or not you have Forex... and that ban is now lifted.. you are now free to import toothpicks.
Toothpicks need to be banned period....but... guess is a ploy for the rich to get richer!

They better unclude 'I better pass my neighbour' generator. Since fashola no wan do anything concerning nepa. Poor man need light to run im small bizz.

Clueless, useless government!!

Gej cluenessness dey learn work where bubu own dey.

NLchikeeto:
I wonder y they got tired so quick........they shouldn't av banned them in d first place.

dollar exchange would have probably entered 700/800 due to higher demand...

What a clueless government.

Palm business may not as lucrative as it was last year since it can now be imported into Nigeria from other countries.

Those that are into Palm Oil storage this year should tread with caution.

Government policies can either make/promote and mar businesses.

OK let see

No, you are for not having an understanding that this is a monetary policy thrust and not fiscal.

martyns303:
Who's the clueless one now, thought they said Jonathan was a slowpoke for signing the importation of toothpicks, even when the man said he wasn't aware of the content.

I guess bubu is too sick to have reviewed the content.

So this calculated move to enrich his northern brothers have run itz cos and they revert huh?

tot it was trial n error fg until recently.....

uboma:
What a clueless government.

Palm business may not as lucrative as it was last year since it can now be imported into Nigeria from other countries.

Those that are into Palm Oil storage this year should tread with caution.

Government policies can either make/promote and mar businesses.

yes that true

No, silly response.

CBN does not have the powers to ban or unban the importation of any item. Rather, what they did was to say that we can now sell forex to those importing these 47 items initially excluded.

These items could still be imported, but you would ha a to source your forex on your own, but now, you can now give CBN naira and they will give you forex.

ProfTea20:
silly news.

It should have read CBN lifts IMPORTATION ban on toothpicks, 47 others.

The ban was on importation to protect the Naira and not directly on forex. Besides, this does not have anything to do with forex deregulation.

Poor reporting.

Back to square one again

Given the the non liberal structure we operate for our currency, perhaps, it was inevitable that CBN proritized allocation of forex when it became scarce. If the market becomes liberal, there would be no need to ban or unban.

deebsman1:
Solution coming too late! Please why the policy in d first place? Policy somersault like someone above me said? Honestly all dis taking 1 step forward 2 steps backwards is what has been killing us as a country for many years and we don't seem to understand. Either good or bad, we need to learn how to make a policy and stick to it all thru, it's so sad we ain't ready to move forward as a nation.


Now that prices of consumer products have skyrocketed up, are they going to come down back? Giving d greedy set of human beings we are. Assuming its in a country where there is a functional consumer pricing check agency now, it would have been beta

Shallow reasoning

kolade179:
All bcs of 2019, is this d reason why u said rice will be 10k by June. OK ooooo. Continue.

I am not an economist or an economic expert but can't they find a long time sustainable solution to this country's macro problem once and for all

leighcon:
Given the the non liberal structure we operate for our currency, perhaps, it was inevitable that CBN proritized allocation of forex when it became scarce. If the market becomes liberal, there would be no need to ban or unban.

imagine,Nigeria importing toothpick, what a shame

CBN and u turn on policy b like




Let me go an import my favorite toothpicks

When you think you have heard it all. What kind of policy somersault is this. Instead of a blanket removal of the ban, why not filter it; must we import toothpick?

This is the disease killing our politics and economy, we just take everything wholesale and slam a total ban or a total waiver. We are so averse to technical or case by case evaluation. CBN with testing-testing.

Toothpick!
I just hope we are allowed to import toiletpaper and bottled water. They must. Someone please Lai Mohammed that CBN is working against his dream of local production of pencils.

Abeg when them go remove the 100 USD monthly limit on naira mastercard , banks just they force dollar MasterCard down our throats and make business boom for aboki

k9ine:
When you think you have heard it all. What kind of policy somersault is this. Instead of a blanket removal of the ban, why not filter it; must we import toothpick?

This is the disease killing our politics and economy, we just take everything wholesale and slam a total ban or a total waiver. We are so averse to technical or case by case evaluation. CBN with testing-testing.

Toothpick!
I just hope we are allowed to import toiletpaper and bottled water. They must. Someone please Lai Mohammed that CBN is working against his dream of local production of pencils.

Brilliant thinker.

they have started again

How will the local entrepreneurs be encouraged?

Confused bunch indeed, why ban and unban items you can produce. I thought they said they are focussed on building local competence. They are using Nigerians to learn on the job too bad indeed. We don't deserve this type of thing right now. They make a whole great brains that abound in Nigeria to look like a country of tyro's but the Lord will not allow then turn us all into morons.

This news seems fake, can't see it on major Nigeria newspaper

chronique:
What exactly has this government achieved since they have returned to all the previous policies which they claimed were bad? 2 years of our national lives, have just been wasted.

Its better than stubbornly clinging to policies that are not working.

Seun:
Its better than stubbornly clinging to policies that are not working.

Then, it vindicates those of us who initially criticised it and pointed it out that this government is confused and lacks what it takes to move this country forward.

GEJ is being vindicated gradually. The are tired already. And someone will still say they need 8years... I step forward,5backward.