I dont see this as a good move... of what use is this policy?

Inception:
Prices of cars are set to crash

How?

Are the cars not still shipped from same country its shipped now?.. would the duty not be same as paid now?

It's only increases smuggling.

Essenza01:


How?

Are the cars not still shipped from same country its shipped now?.. would the duty not be same as paid now?

It's only increases smuggling.

Nothing will even decrease Xefa is more than Naira now so from there alone that's where problem will start first and u start seeing shipping from Nigeria pay pass Cotonou sef....


Assuming na when Naira get value now na another thing....



I saw My Cotonou friend ads yesterday a 4matic Tokunbo 40million Xefa that's like 45m or so In Naira how much I wan come even buy m from Nigeria and like this I go still do documentation for my country oh...

Kuginzi:


https://www.vanguardngr.com/2023/06/fg-okays-re-opening-of-seme-border-for-vehicle-importation/amp/

But on a long run with this car prices go crash.. corolla go know e mate now 1.7 car turned 4m no be juju.. its cheaper car landing on 🇧🇯 Republic coast.

tollyboy5:

For the past eight years how many rice have you grown?

I'm not even sure we gave comparative advantage in rice production. It's either you hear flood destroyed the farm or another story. If we know we can't produce enough rice let's keep importing or the government focus on foods that can be used a lot substitute.

tollyboy5:

For the past eight years how many rice have you grown?

Abeg help me ask him, even the one grown here is total rubbish and tasteless.

superCleanworks:


price of tokumbo doubled last year. hopefully this would bring it back to affordable level.

Went to get a Corolla 07 for a cousin to use as Bolt two weeks ago. Couldn't believe what those dealers were telling me.

Buhari just came to Nigeria to take this country backwards for 20 years. Yeye man wey close borders without thinking of its consequences. I hope the prices of cars will become more affordable when the border is reopened.

Raskimonojendor:

People in developed countries mostly rely on used cars too. New cars are expensive everywhere in the world.

Aslong as the vehicles being imported via the borders are made to pay the Nigerian custom duties and taxes, nothing wrong with importing them from a neighbouring country.

Prices of cars will definitely fall as their will be more competition amongst sellers.

Prices of used cars are high after covid, most especially in the west where we get our used car from. That also adds to the price increase of used cars in Nigeria, and import duty was also raised significantly.

jackcanfield:


Awon Importer Gang , how do you protect your farmers and local auto industries ... They just have to let customa know that there major function is not revenue generation. Continue floating and be importing like mad people.

always complaining

Kuginzi:


https://www.vanguardngr.com/2023/06/fg-okays-re-opening-of-seme-border-for-vehicle-importation/amp/

We're gradually saying goodbye to Buhari's regime.

Jogs1900:

Not only rice..Food items generally

Enemies of the nation, na una go still dey shout when the value of Naira keep nosediving.

WorldRichest:


Continue crying. There are imported used cars in Europe.

He was talking about rice

Ex0rrcist:

Prices of used cars are high after covid, most especially in the west where we get our used car from. That also adds to the price increase of used cars in Nigeria, and import duty was also raised significantly.

Laws of demand and supply. Covid caused acute chip shortages. Most new cars in advanced countries from ordering to delivery are around 8 months away, except one is lucky to find a dealer with existing inventory of exactly what one wants. Lack of new cars made used cars sales hot as well. All the above you listed are hammering everywhere in the world.

However, Nigeria had an additional cost added on due to closure of the seme border by Buhari's administration.

Raskimonojendor:

Laws of demand and supply. Covid caused acute chip shortages. Most new cars in advanced countries from ordering to delivery are around 8 months away, except one is lucky to find a dealer with existing inventory of exactly what one wants. Lack of new cars made used cars sales hot as well. All the above you listed are hammering everywhere in the world.

However, Nigeria had an additional cost added on due to closure of the seme border by Buhari's administration.

Yeah, I quite agree with what you said.

pedel:
You think importing food for consumption is good for our economy?
A country of over 200,000,000 people importing rice despite having land and manpower to grow our own food.
Spending forex to import what we can grow is one of the reasons our currency is devalued.

but when it's cheaper to import than to produce, I think its a better idea. Cheaper commodities should be imported rather than produced and sold at a more expensive rate.
We can also export our cheaper commodities to other countries.
That's how country grow.

pedel:
You think importing food for consumption is good for our economy?
A country of over 200,000,000 people importing rice despite having land and manpower to grow our own food.
Spending forex to import what we can grow is one of the reasons our currency is devalued.

As they stopped the importation, how did it help our economy? Our economy became worse than it ever was. USA is the highest importing country and china too is one of the highest and they have one of the best economies in the world

pedel:
You think importing food for consumption is good for our economy?
A country of over 200,000,000 people importing rice despite having land and manpower to grow our own food.
Spending forex to import what we can grow is one of the reasons our currency is devalued.

Since they closed the border what have the country gained if not to buy those same products expensive, insecurity is still threatening the farmers

At least one can now enter Benin to select a clean car over accidental cars imported by Nigerians dealers

pedel:
You think importing food for consumption is good for our economy?
A country of over 200,000,000 people importing rice despite having land and manpower to grow our own food.
Spending forex to import what we can grow is one of the reasons our currency is devalued.

Shut up your mouth.... What has been the success recorded with rice apart from enriching the rice cartel and increasing cost of rice from 8k to 40k?

In a situation where there is insufficient food supply domestically food prices will continue to rise unless local production is ramped up ( which for now seems unlikely especially with the insecurity in the north). To counter food scarcity there is need to import the shortfall pending resolution of the structural issues in the agricultural sector.

pedel:
You think importing food for consumption is good for our economy?
A country of over 200,000,000 people importing rice despite having land and manpower to grow our own food.
Spending forex to import what we can grow is one of the reasons our currency is devalued.

You always see the problem without profiling a solution to it, what happened to govt funding agriculture and encouraging farmers to invest heavily on rice produce to satisfy the entire nation? If you want to ban importation first of all encourage production of that same food or product to be domestically produced and have excess to meet with demands of the citizens that’s what a wise govt should do not just closing borders without plans check currently local rice is competing with foreign rice in price despite its not up to standards of the foreign rice, we are our own problems in this country

gfelo:
No be to buy motor what about the fuel

Maybe it will start running on water.

Paretomaster1:


Enemies of the nation, na una go still dey shout when the value of Naira keep nosediving.

Calm down..It's obvious Nigeria can't feed itself for now hence the high cost of food.
It's a temporary measure.
Even if the country is poor, food is meant to be cheap.

The decision to close it was a faux pas in the first instance.

Thanks President Bola Ahmed Tinubu

Godisablealltim:
people like u won't mention the imported rice is cheaper than the local product.

Not only cheaper, it is also better in terms of quality

obi58:


Shut up your mouth.... What has been the success recorded with rice apart from enriching the rice cartel and increasing cost of rice from 8k to 40k?

In a situation where there is insufficient food supply domestically food prices will continue to rise unless local production is ramped up ( which for now seems unlikely especially with the insecurity in the north). To counter food scarcity there is need to import the shortfall pending resolution of the structural issues in the agricultural sector.

Only the wise will reason with your points. You've done well

Food import most importantly. The greatest mistake of Buhari was closing up borders in the name of us embracing our local rice that the masses cannot even afford. So what's the essence? Competition is healthy. It controls Inflation.

forexprophet:
You have been decieved with economic grammars. Good or bad for the economy, you still dey suffer.
..stay there dey speak English.

Sharap.

He is right.

How can quote country of over 200 million people with mostly arable land be talking about importing staples that can be grown locally?

Don't be a blockhead.

Think.

Jogs1900:

Not only rice..Food items generally

I won't blame you , you simply don't understand how micro economics works.

Why was it closed Initially?? Nonsense.

WICKED PEOPLE.

Now wey cost of fuel don rise
Inflation soaring up
Na bicycle I go buy and import through seme boader instead of car
Long over due tho