First of all, that a country is not a “Productive Country” is ‘NOT NECESSARILY’ a country that depends on the importation of its FOOD.

It is actually a country that has absolutely NOTHING which it is producing.. That is, it is not Producing and Goods, OR SERVICES.


When anybody says that “Nigeria is majorly a ‘Consuming’ Country”, it simply means that a lot of the money in the hands of the people -- and which the people are recklessly spending -- are Not gotten by doing things that are part of any Production Value-Chain.


(That is, such money in their hands has absolutely nothing to do with the Production of any form of Goods and/or Services).
(Such money annoy be taxed either).


Such monies are either stolen funds, embezzled funds, swindled funds, coveted funds, Ransom funds, “stumbled-upon-by-mistake” money etc.. (for the illegal ones); and then, gifts, inheritances, alms, offerings, begged money, and-so-on (for the legal ones) and all other types of funds that has no “input” value attached to it..

All these funds mentioned above cannot be tied to any productive activity, or to any “productive” value.,, yet, these types of funds account for the bulk of the money which most Nigerians are currently having.




MANY PEOPLE THINK THAT “CONSUMPTIVE ECONOMY” MEANS IMPORTATION....

THAT TYPE OF THINKING IS VERY VERY WRONG..

The urchins should come over here and learn....

Many of them have criticized Peter Obi for telling them that he wants to move Nigeria from a consuming country to a producing country...

They will first of all attribute his next cash and carry mall as a mall that is dependent on foreign items to market..

But forgetting that, if the country was producing goods, many malls will sell those goods...

Infact if you go to next cash and carry, you will see locally produced items that's sold there....

It's a mall for crying out loud...And should be able to sell items to meet people's needs and desire....

I have always asked the question.
“Why do people always think that ‘Consumption’ and ‘Importation’ are the same thing?”

Good explanation

Bluntsisi:
I have always asked the question.
“Why do people always think that ‘Consumption’ and ‘Importation’ are the same thing?”

The deceptive elites and politicians, as well as their paid media influencers are the ones misleading the people.

Thus, we are being made to believe a big lie all these while.

One now wonders how many more lies they have made us to believe..

Lalasticlala, Seun, Nlfpmod, Mynd44

Bluntsisi:
I have always asked the question.
“Why do people always think that ‘Consumption’ and ‘Importation’ are the same thing?”

Import based economy is primarily a consumer economy since you don't produce any goods .

A net importing economy is one where capital flows out from leading to a deficit economy.

BluntCrazeMan:
The deceptive elites and politicians, as well as their paid media influencers are the ones misleading the people.

Thus, we are being made to believe a big lie all these while.

One now wonders how many more lies they have made us to believe..

So what kind of economy is an import based one ?

KwaraRat:


Import based economy is primarily a consumer economy since you don't produce any goods .

A net importing economy is one where capital flows out from leading to a deficit economy.

---

KwaraRat:


So what kind of economy is an import based one ?

---

They said that Nigeria imports everything, down to even toothpicks.
Is that not a big lie?

KwaraRat:


So what kind of economy is an import based one ?

In as much as I understand what you're trying to say,, but then, this question of yours has digressed from the subject of the topic though.

1. Nigeria is not an import-based economy, and you know that

2. The “little” imports that Nigeria is doing is Not the main cause of the depletion of the Foreign-exchange reserves.

3. The individuals in the system are not actually working for their money,, and it had been affecting the economy negatively.
(That's the subject of the topic.)




The economy of import and export would be treated on another day.

We will be going round circles with these DisObidient louts who want to turn convention upon its head in lame defense of the gaffes by their messiah.

An import based economy is a shelf stacking one where goods consumed are produced outside of its economy.

You import because you do not have the means and capacity to produce goods that will be priced competitively.

There is no going around this.

You can only export when you have the means to produce goods that can be competitive in pricing.

KwaraRat:
We will be going round circles with these DisObidient louts who want to turn convention upon its head in lame defense of the gaffes by their messiah.

An import based economy is a shelf stacking one where goods consumed are produced outside of its economy.

You import because you do not have the means and capacity to produce goods that will be priced competitively.

There is no going around this.

You can only export when you have the means to produce goods that can be competitive in pricing.

Do we continue to continue with the status quo??
Where the bulk of the resources are looted by the elites?? and the remaining ones shared amongst the cronies of the elites.??

The time for feeding on looted money and sharing of free-money is over.

BluntCrazeMan:
In as much as I understand what you're trying to say,, but then, this question of yours has digressed from the subject of the topic though.

1. Nigeria is not an import-based economy, and you know that

2. The “little” imports that Nigeria is doing is Not the main cause of the depletion of the Foreign-exchange reserves.

3. The individuals in the system are not working for their money. And it is really affecting the economy negatively.



The economy of import and export would be treated on another day.

Not making any sense .

Even your assertion of true productive employment proves that little is produced to add value to the economy through labour .

You just contradicted yourself by stating that the work force is not productively employed and that most people earn a living either through rent seeking or in jobs that are totally not useful e.g. Civil service that is more of a welfare scheme .

KwaraRat:


Not making any sense .

Even your assertion of true productive employment proves that little is produced to add value to the economy through labour .

You just contradicted yourself by stating that the work force is not productively employed and that most people earn a living either through rent seeking or in jobs that are totally not useful e.g. Civil service that is more of a welfare scheme .

Civil Service is a welfare scheme??

I'm done discussing with you bro

BluntCrazeMan:
Do we continue to continue with the status quo??
Where the bulk of the resources are looted by the elites?? and the remaining ones shared amongst the cronies of the elites.??

The time for feeding on looted money and sharing of free-money is over.

Its not how money is added into the economy that is the issue.

Nigeria's economy is driving by and large by govt spending.

The problem has always been how the govt spending only encourages imports.

Take a typical govt office that will budget huge sums for imported stationary , office equipment, generators and A/Cs none of which is produced locally.

If the govt is sincere and insists on purchasing inventory from local manufactures , do you know how much it can conserve from wasteful imports that benefit foreign economies ?

Then we have looted funds that end up in offshore accounts like that of Anambra under Peter Obi .


There is a net drain of resources out of Nigeria and the only way to revert this is to cut wasteful imports .

BluntCrazeMan:
Civil Service is a welfare scheme??

I'm done discussing with you bro

The Nigerian civil service is a glorified welfare scheme .

How many of those in the civil service can truly justify their employment ?

A scenario where you have in a typical MDA more support staff than core professionals can not be seen as a professional outfit.

A civil service that every minister will dump his fellow village people and put his concubines on govt dole .

Its even far worse when you go to state and local govt level.

I remember my then northern girlfriend who was collecting salaries from 3 LGA and from the state govt as a full staff and the only time she ever went to the office was for physical versification.

This my ex gf I van bet is still collecting salaries even now that she is in federal employment.