chizpim:
Why not ban importers of refined crude oil, where large choke of forieghn exchanged goes into...

It is also a misery seeing that the country sell crude at almost zero cash. And letter rebuy the finished product 3 times the prices.

iammo:


first person to wail about this has to be a yamree

berebe

anytime I saw something like this happens what comes to my mind is whether the federal government were considers the masses what will become of the independent entrepreneurs who their source of living is indulging in trading of same products
I bleeds for my country
God help us against our tyrannical government
they are all selfish and greedy due to their personal interest�

For those of us who are good at mathematics, a barrel of palm oil is more expensive than barrel of oil. Palm oil can generate more hard currency for the country than oil

iammo:


since you are quoting me, educating your bitter self is not out of place.... so son before you go about quoting people or mods try and have a simple violations because quoting people wont save you from been call what you are..... yamree

a nyamiri is still better than a berebe

Umsel5195:
anytime I saw something like this happens what comes to my mind is whether the federal government were considers the masses what will become of the independent entrepreneurs who their source of living is indulging in trading of same products
I bleeds for my country
God help us against our tyrannical government
they are all selfish and greedy due to their personal interest�

And you think importing what we can conveniently produce will help grow our economy?

omonla10:
Small small o Mr President.. strict measures like this were partly responsible for d devaluation of the naira against d dollar few years ago

Has that not happened already Just watch!

Umsel5195:
anytime I saw something like this happens what comes to my mind is whether the federal government were considers the masses what will become of the independent entrepreneurs who their source of living is indulging in trading of same products
I bleeds for my country
God help us against our tyrannical government
they are all selfish and greedy due to their personal interest�

I think the problem here is not understanding what the directive says. The directive is to blacklist from the banking system any firm, its owner and top management caught smuggling or dumping any of the 43 items that are not eligible for foreign exchange.
This does not stop people who import it legitimately from doing their business. The only thing is that they will have to source for their foreign currency from the alternate market at a higher rate because Government has stopped subsidizing those items.
So, if you import legally through the ports, pay your import and custom duties as required, then you shouldn't be concerned. But if your so called trade is illegal smuggling, then this should concern you.

This is a step in the right direction. I'm not a fan of Buhari, but in this regard I'm for him. Any moves geared towards making Nigeria and its economic better is welcomed.

What is "viable off-taker arrangements? "

Thank you, mr obvious.

Even a 10 year old would have done this long ago.

Analog president.

I was expecting to see groundnut (groundnut pyramid) on the list

Like some one said when cost of importation is cheaper than cost of production it encourages smuggling.

Government should take care of electricity to reduce cost of production and see if Nigeria as a whole will not wake up, not to fuel importation we dey talk.

An individual is building refinery and yet government that controlls a full country and that can borrow easily from China can not build or repair it's refinery.


Take care of electricity and fuel with roads leave the rest for Nigerians to develop like health sector and Agriculture.

Nice policy!

it is unfortunate that we can get Govt simple communication that we should meet our local need without imports.simple in the sense that it is from Nigeria that Malaysia took oil palm seed and there after exporting same to us.
Can CBN list those items again for all Nigerians to see if we can produce them locally?.

chizpim:
Wait ooo, so na catfish we go dey chop now.. Jesu!

Cat fish to take over if there's any.

This is a good news. at least this development will help the country to regain her glory.

Good one Mr. President