deenee:
Unfortunately, the government is not the problem, the exporters are to blame too. when you want to import machinery CBN give them dollars at official rate all in a bid to encourage more exports from the cocoa producers. However, when they export, they will refuse to return export proceeds through the official channel and route the proceeds to the black market. If they have nothing to hide, they should document and process the declaration form before exporting.

Why dont you blame the fool we have as a CBN governor who allowed the gulf between the "official rate' and "black market rate " to be so wide in their first place

Dont you know when you create opportunity for arbitrage
Humans by nature will jump at it?
Sometimes you Nigerians really need to be laying the blame where it properly belongs

DexterousOne:

The internal forces contributes much more to holding ourselves down than external forces
We are our own worst enemies

That's why I scoff at those who blame the west, or imperialism for our woes
Even when things are near perfect
Black folks largely do not have the willingness, nor the sense to make things happen

It's both sir, but changing the status quo lies with us.

Don't think that's happening by the way, I'm gradually losing hope.

Eriokanmi:
Not this time again

Well, we all saw how unfavorable Buhari government was in 2015 and we still voted him in again in 2019. So fooling yourselves.

Regex:


Well, we all saw how unfavorable Buhari government was in 2015 and we still voted him in again in 2019. So fooling yourselves.

I guess you're talking of the past and the mistake you made. The onus is on you not to repeat the same mistake again.

jajeri3216:


It's both sir, but changing the status quo lies with us.

Don't think that's happening by the way, I'm gradually losing hope.

The external exploit the lapses of the internal
That's how it works

And that is the way of the world

DexterousOne:

What is your definition of "proper pricing"
Or things being priced well? Using your words

Fair trade value means setting prices devoid of exploitative agenda. Multinational should not use their influence to manipulate prices of commodities since they are the ones with the purchasing power, being that they have lobbyist that push their agenda at the policy making level.

Politicians and governments untimely decide trade regulations, so whoever supports their political ambitions and agenda gets a favorable deal.

Now you see how multinationals are able to set the price of cocoa.

sonnie10:


Fair trade value means setting prices devoid of exploitative agenda. Multinational should not use their influence to manipulate prices of commodities since they are the ones with the purchasing power, being that they have lobbyist that push their agenda at the policy making level.

Politicians and governments untimely decide trade regulations, so whoever supports their political ambitions and agenda gets a favorable deal.

Now you see how multinationals are able to set the price of cocoa.

Hope you are not one of those guys who are always blaming the west and the multi nationals for our woes in that regard

What you are saying is summed up simple
Black man cannot add value to the product that he has growing on his soil
Or beneath his feet

Hence the multinationals come to buy the products
Or own hectares of the land for that purpose
It's not their fault that Africans are largely DUMB
They will exploit you if you allow yourself to be exploited

Look at the miracles that Songhai in Benin have been able to perform over the decades
So much so that even people from Europe come to learn from him...

What stops other Africans from towing that same path
Instead we want to continue receiving rents and royalties from the raw materials we have
Like I said
Blame the African man for his foolishness

Imperialism is just an excuse to mask his failures and his refusal to use his brain

Connoisseur:
I was wondering when this news will come to the public domain.

There is an ongoing battle between truck owners and exporters, some trucks have been carrying export containers for 40- 60 days because of the inability of the shipping lines to receive these containers.

The shipping lines are relying on a directive from the CBN that every NXP (export declaration) must be confirmed by them (CBN) even though the exporter have evidence of this declaration in the form of a CCI.

Exporters have incurred a huge amount of extra expenses renting open fields and hiring cranes to drop these containers until these approvals are confirmed. This is in addition to the huge amount for transport to the terminal especially Apapa and PTML. It costs over 700k and at least 2 weeks to transport a 40" container to either terminal.

After all these, the CBN expects the exporter to repatriate the dollar proceeds and sell to the bank at 385.

We are not serious in this country

Those at the helm of affairs are wicked...
Very discouraging..

We will export cocoa and import chocolate and other beverages. Cant we just harness the full value chain?

DexterousOne:


Why dont you blame the fool we have as a CBN governor who allowed the gulf between the "official rate' and "black market rate " to be so wide in their first place

Dont you know when you create opportunity for arbitrage
Humans by nature will jump at it?
Sometimes you Nigerians really need to be laying the blame where it properly belongs

Wow
Seun actually shared this post
Am I supposed to be star struck

DexterousOne:


The external exploit the lapses of the internal
That's how it works

And that is the way of the world

True!

lastclaire4:

You dont understand. What do you think she knows, she wants to implement ? She is not a professional. You cant compair her to her predecessors. You cant give what you dont have.

Her immediate past predecessor was not good too.

DexterousOne:


Why dont you blame the fool we have as a CBN governor who allowed the gulf between the "official rate' and "black market rate " to be so wide in their first place

Dont you know when you create opportunity for arbitrage
Humans by nature will jump at it?
Sometimes you Nigerians really need to be laying the blame where it properly belongs

The CBN gov is not normal, sense left him whenn he choose to stand against God's children.

He should just put energy to industrialise the country. Mu.mu ni

Connoisseur:
I was wondering when this news will come to the public domain.

There is an ongoing battle between truck owners and exporters, some trucks have been carrying export containers for 40- 60 days because of the inability of the shipping lines to receive these containers.

The shipping lines are relying on a directive from the CBN that every NXP (export declaration) must be confirmed by them (CBN) even though the exporter have evidence of this declaration in the form of a CCI.

Exporters have incurred a huge amount of extra expenses renting open fields and hiring cranes to drop these containers until these approvals are confirmed. This is in addition to the huge amount for transport to the terminal especially Apapa and PTML. It costs over 700k and at least 2 weeks to transport a 40" container to either terminal.

After all these, the CBN expects the exporter to repatriate the dollar proceeds and sell to the bank at 385.

We are not serious in this country

Just wondering why CBN no simplify the process of getting the declaration? E for good if na something they can apply on the single trade portal and also get it approved in a day or two.

All the freight forwarders association for call meeting with shipping council and CBN to press them on this issue na?

Omo, the country tire person.

PHijo:


Her immediate past predecessor was not good too.

Yes she was not good and that is what I am saying, political appointee. Everybody must come from their party leaving our professionals. if her her predecessor scored 6 on a scale of 10 this woman should be around minus one (-1).

The only thing worse than a stupid law is to enforce it. If exporters are experiencing problems, it means theres something wrong with it.

Government should make doing business a breeze rather than sticking to dumb man made rules like the Phariseea.

CSTRR:
If anybody in buhari's inner circle, or appointed by him becomes president in 2023, I would give up on Nigerian issues.

By next week, I am going to sell two huge lands and invest it into American stocks and the dollar market.
Real estate in Nigeria is worth shit anyway due to the piss poor Naira.

Once I am done, I would have successfully divested my future from NIgeria and your economy.

If You people like, vote for buhari MK2, it would no longer be my business.

Bro plz how do I contact u on this 2 ventures...I need diversification outta dz evill forest wit immediate alacrity

Rubbish.

Tajbol4splend:





There have to be rules to set standard and good reputation for our exports

J

Seun:
Why should a government that wants to diversify the economy and strengthen the naira, impose rules that will make exportation more difficult?

Because we don't need cocoa tax that much, we have oil dollars to fallback on.
Same reason they won't takeover Osun and Zamfara's illegal gold field to boost forex earnings even in times of scarcity.

DexterousOne:


Why dont you blame the fool we have as a CBN governor who allowed the gulf between the "official rate' and "black market rate " to be so wide in their first place

Dont you know when you create opportunity for arbitrage
Humans by nature will jump at it?
Sometimes you Nigerians really need to be laying the blame where it properly belongs

I heard online shoppers are getting it for less than N400 / USD.

Bad luck