Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,195,105 members, 7,957,131 topics. Date: Tuesday, 24 September 2024 at 07:37 AM |
Nairaland Forum / Nairaland / General / Business / Nigeria Spends $1.2 Billion To Import Fish Annually - Emefiele (10351 Views)
How Dangote Sold Bank For N1.2 Billion, Shut Down Companies Over Gov't Policies / Femi Otedola’s Net-worth Rises To $1.2 Billion, Rejoins Forbes Billionaire List / Abdulsamad Rabiu Becomes Nigeria’s Second Richest Man, Now Worth $7.2 Billion (2) (3) (4)
Re: Nigeria Spends $1.2 Billion To Import Fish Annually - Emefiele by RexTramadol1: 12:52pm On Sep 20, 2019 |
Re: Nigeria Spends $1.2 Billion To Import Fish Annually - Emefiele by lomprico(m): 12:55pm On Sep 20, 2019 |
is it govt money they are using to import it? |
Re: Nigeria Spends $1.2 Billion To Import Fish Annually - Emefiele by lomprico(m): 12:56pm On Sep 20, 2019 |
COZA: it's not all fish species u can breed. |
Re: Nigeria Spends $1.2 Billion To Import Fish Annually - Emefiele by Rubicon67(m): 12:56pm On Sep 20, 2019 |
Otuegbe: I think we should produce what we can produce for local consumption and import what we can't. This will stimulate the economy, encourage investments and create lots of jobs. |
Re: Nigeria Spends $1.2 Billion To Import Fish Annually - Emefiele by ikorodureporta: 1:11pm On Sep 20, 2019 |
Neddstark: oil spillage don scatter all their fish 2 Likes |
Re: Nigeria Spends $1.2 Billion To Import Fish Annually - Emefiele by OlujobaSamuel: 1:19pm On Sep 20, 2019 |
Angelfrost:Cutting the deficit includes the stopping of the subsidy given to such commodity. On the issue of the cost, the cost isn't upto that in my view, but as with every other subsidized item in Nigeria, there's bound to be diversion, you as a business man collects $10000 from CBN to import fish, you import $2000 worth of fish and use the 8k balance to import car since you know you can't get fund for the car directly. The record with the CBN will reflect the $10k, so I guess that was what resulted to such high figure, Also, the CBN is trying to get a favourable public reaction, that's why they would rather tell you the actual amount release than the amount used for the fish importation itself. The fish importation might not be more than $300m to 500, while diversion constitute the bulk 2 Likes |
Re: Nigeria Spends $1.2 Billion To Import Fish Annually - Emefiele by olarent: 1:36pm On Sep 20, 2019 |
Yes.but a country like Nigeria where her importation is far far greater than exportation is a big problem which we lead to what we are facing currently. Importation disadvantage is much more than its advantage. Beside you should import what you can not produced locally. |
Re: Nigeria Spends $1.2 Billion To Import Fish Annually - Emefiele by olarent: 1:36pm On Sep 20, 2019 |
olarent: |
Re: Nigeria Spends $1.2 Billion To Import Fish Annually - Emefiele by pat077: 1:54pm On Sep 20, 2019 |
Neddstark:where they wan see fish when the rivers have been polluted with oil spillage 1 Like |
Re: Nigeria Spends $1.2 Billion To Import Fish Annually - Emefiele by Fhemmmy: 1:55pm On Sep 20, 2019 |
Even the fish farmers that will like to do more, can;t because of poor electricity and lack of funds |
Re: Nigeria Spends $1.2 Billion To Import Fish Annually - Emefiele by Cousin9999: 2:13pm On Sep 20, 2019 |
853 km of coastline and Nigeria spends 1.2b to import fish? That's like Egypt importing sand. |
Re: Nigeria Spends $1.2 Billion To Import Fish Annually - Emefiele by Blue3k(m): 2:19pm On Sep 20, 2019 |
He said the apex bank’s current initiative was to engage the coastal state governors to develop the blue economy to address the deficit of 1.9metric tons as well as eradicate the huge import bill for fish. You guys can literally cut the inport bill in half if you eliminate illegal fishing. If Nigerian bring the fish everyone wins. The next step is to figure out while fish farmers arent productive. I read its the feed quality among other things. |
Re: Nigeria Spends $1.2 Billion To Import Fish Annually - Emefiele by googi: 2:24pm On Sep 20, 2019 |
The reasoning here is why Nigeria will remain poor and hardly live up to even half it's potential. Despite some sound advice given here, people still think imports are still their foundamenental right. Some people catch fish off your shore and offshore with impunity. Froze them, canned them and sell them back to you for $1.2 Billion. Na when we go catch sense? Gone are the days Nigerians would never eat fish, especially those living on coastal area, unless the fish are caught alive. Who remember Ibru Oku Eko? 1 Like |
Re: Nigeria Spends $1.2 Billion To Import Fish Annually - Emefiele by Neddstark: 2:29pm On Sep 20, 2019 |
ikorodureporta: Oga, make them carry boat, go ocean. Get better fish joor. The whale and dolphin, wey them dey massacre, no be from ocean. Can't the government or some people there invest in ocean fishing and make millions from it to impact lives there. Imagine building a fishing village in towns near the oceans. Thats another mega-industry of its own 1 Like |
Re: Nigeria Spends $1.2 Billion To Import Fish Annually - Emefiele by Debaiz: 2:52pm On Sep 20, 2019 |
Angelfrost: Those who import, they sell in nigeria and collect Naira. Is it naira that they take to where they import from? No. What currency do they use? $$ Where do they get the dollars $$ from? From the FG through the CBN. Why from the FG through the CBN? Cos it’s only FG that do business that earn that huge kind of dollar quantity. Not even all the banks in Nigeria combined makes the kind of dollars that the FG makes. What of dangote, the richest black man? The maximum dollars Dangote can make in a year is not up to $5billion(not even likely) and dangote needs the dollars to also buy things to run his businesses. So he won’t sell it to someone who wants to use it to buy fish. So basically FG is now saying they don’t want to sell the dollars to fish importers again when we have fishermen all over Niger delta. They want to use the dollars to do more important things like construct roads, railways, airports, buy ammunition’s to fight bokoharam. |
Re: Nigeria Spends $1.2 Billion To Import Fish Annually - Emefiele by Debaiz: 2:57pm On Sep 20, 2019 |
ikorodureporta: Although they’re mostly responsible for the spillages with their bunkering and bombing of pipelines, The government is doing the clean up for them already. |
Re: Nigeria Spends $1.2 Billion To Import Fish Annually - Emefiele by loswhite(m): 3:08pm On Sep 20, 2019 |
Can they tell us how much we use to import fuel? |
Re: Nigeria Spends $1.2 Billion To Import Fish Annually - Emefiele by King44(m): 4:24pm On Sep 20, 2019 |
ikorodureporta:we go soon begin import water, our ocean n see just day no real commercial fishing activities now tell me y China no go come our ocean catch fish with their fishing vessel then sell it back to us as I said e go reach one stage we go soon begin import pure water |
Re: Nigeria Spends $1.2 Billion To Import Fish Annually - Emefiele by Elinosweet143(f): 4:33pm On Sep 20, 2019 |
Na style dem wan use ban fish oh, funny enough a lot of people want to venture into farming but times are hard, no start up capital, no means of getting money, now that their mind is moving to fish d next thing na to ban am and fish go begin cost like gold, they had better extend this their ban to medicals oh, am sure we have capable hands here in naija |
Re: Nigeria Spends $1.2 Billion To Import Fish Annually - Emefiele by Damod88: 5:06pm On Sep 20, 2019 |
AZeD1: The problem is not the cost of doing business in Nigeria. The problem is we don't have the technical know-how to mass produce that could lower production cost. In addition to that we don't have knowledgeable entrepreneurs who are ready to invest in production in Nigeria. |
Re: Nigeria Spends $1.2 Billion To Import Fish Annually - Emefiele by djon78(m): 5:53pm On Sep 20, 2019 |
Damod88: You hit it spot on There is a big knowledge problem in Nigeria s business place. And people don't understand how scary a situation it is. Another killer for Nigeria is there is so much focus on money instead of delivering quality goods and services. Focus on money has truly damaged this Nation and if care is not taking, it will be irreparable damage. Money is good Its the end product of labour But when you put money ahead of delivering quality work there lies the problem So Nigeria is faced with knowledge problem in addition to focus on money as priority, then you create a terrible monster in the Nation. No direction, no values, its really terrible Nigerians need to wake up especially the younger generation to do the right thing. Go to developed and developing Nations and you will see the stark difference and the reason why they keep advancing non stop |
Re: Nigeria Spends $1.2 Billion To Import Fish Annually - Emefiele by anonymuz(m): 8:02pm On Sep 20, 2019 |
RexTramadol1:gbigbe 1 Like |
Re: Nigeria Spends $1.2 Billion To Import Fish Annually - Emefiele by Cousin9999: 9:15pm On Sep 20, 2019 |
Neddstark: YES! |
Re: Nigeria Spends $1.2 Billion To Import Fish Annually - Emefiele by AZeD1(m): 9:17pm On Sep 20, 2019 |
Damod88: |
Re: Nigeria Spends $1.2 Billion To Import Fish Annually - Emefiele by Cousin9999: 9:34pm On Sep 20, 2019 |
The real question is: What is Nigeria's navy doing about Chinese illegal fishing and other crimes? People call Somalians pirates because they have no navy and do whatever they can to protect their water, especially from Chinese pollution and overfishing. Chinese are like rats and roaches. smh The idiots overpopulated their crappy land, refuse to fix their problems, and they just spread themselves everywhere. |
Re: Nigeria Spends $1.2 Billion To Import Fish Annually - Emefiele by tomdon(m): 2:25pm On Sep 21, 2019 |
seborrhic: What product did they recently ban importation of which Dangote is now producing? |
Re: Nigeria Spends $1.2 Billion To Import Fish Annually - Emefiele by tomdon(m): 3:27pm On Sep 21, 2019 |
AZeD1: One really wonders if these people are not supposed to be experts or even if they're not, can't they consult knowledgeable people before making far-reaching decisions for millions of Nigerians? It's really baffling, more so when the kNowledge here is common knowledge. I don't need to be an economist or have MBA to reckon with your second paragraph. And in your first paragraph, point one is obvious but they're talking as if they're not in Nigeria let alone be at the helm of affairs over Nigerians |
Re: Nigeria Spends $1.2 Billion To Import Fish Annually - Emefiele by tomdon(m): 3:32pm On Sep 21, 2019 |
Sagay212: Producers need conducive environment and government support. If there's electricity 247, that will help but government still need to provide more than just enabling environment to producers As for the Dstv issue, government is not ready to help. If government intervenes, those juicy programs that Dstv have exclusive and sole right to will be given to Nigerian TV companies and that will kill Dstv in Nigeria |
Re: Nigeria Spends $1.2 Billion To Import Fish Annually - Emefiele by anonymuz(m): 11:17pm On Sep 21, 2019 |
RexTramadol1:gbigbe |
Re: Nigeria Spends $1.2 Billion To Import Fish Annually - Emefiele by grandstar(m): 3:04am On Oct 03, 2019 |
AZeD1: thanks for this. You are making some fine points. it may not only be the cost of doing business. You may also not have comparative advantage in the production of that product or products. It isn't a crime. The Economist magazine said that Buhari treats,market forces as soldiers they can commandeer and direct. It is actually the complete opposite 3 Likes 3 Shares |
Genuine Online Business / Nigeria’s Inflation Rate Rises To 12.82% In July, As Food Prices Surge / Forex Curbs: CBN Moves To Ease Importers' Plight
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 58 |