BoldBrainz:


This is naivety speaking.

All those items you mentioned are luxuries whose imports don't even contribute up to 4 percent of the pressure on the FX market.

Why?
Those are items that are comfortably affordable to Nigerians that don't number up to 10 million, at this very instant. Taking them off the import list or taxing them heavily is going to have an infinitesimal effect on the current naira/dollar quagmire. And humans have a way of sourcing for things that are out of reach, even if they have to circumvent the system. The moment you raise taxes on those things or ban their importation, they automatically become twice as expensive as cocaine. Importers will put more money into smuggling them in, and those willing consumers will only be too happy to spend even more to acquire them. You have solved nothing.

You people keep prescribing paracetamol for acute malaria. Fuel, food, health care and education are the major drains on our FX right now. Fix the basic rots in those four places with local production, and you have automatically eased pressure on the naira by 50 percent. Those are the things every ordinary Nigerian sweats to afford. If those things are domestically produced in the right quantity and quality, importers will no longer make profits from bringing them in, cause people will opt for what is home and affordable.

We need to utilize both import ceilings and domestic production, so we achieve quick results. There are so many things we are importing that we do not need, I can not mention all right now, but believe me, if we place import ceilings on some of those things we will live well without them. Especially forcing companies to build production units in Nigeria, companies like Benz, Toyota, Honda, should be producing from Nigeria.

creativehubb:

We need to utilize both import ceilings and domestic production, so we achieve quick results. There are so many things we are importing that we do not need, I can not mention all right now, but believe me, if we place import ceilings on some of those things we will live well without them.

Buhari attempted import restrictions on a lot of commodities including used cars. He shut the borders for years and banned importations of items down to rice, all to enable local consumption. What happened?

Local demand outweighed supply. Nigerians began to illegally source for those banned items despite their increased prices. His inability to address the core problems back home ended up tumbling that effort to the ground. Even the locally produced rice became so fucking expensive that some families ended up being unable to buy rice in December, for the first time in Nigeria's recent history.

When he was done fooling himself, he reopened the borders, eased taxes on automobile imports, but the damage had already been done. The economy was in comatose. It is foolhardy to keep doing the same things over and over while expecting different results.

BoldBrainz:


Omoh, nairaland is not for me abeg! I'm so over all of this right now.

I own a manufacturing factory has never ans would never be connected to nepa

In fact it's cheaper to produce your own power as a factory than using Nepa


Most ICT companies can easily get solar and inverter

Power is not our issue access to credit is that's what's killing Nigeria

National Trekking Season 2 loading...!


By Christmas, Petrol shouldn't be less than #1000 per liter.

Make I see how many people go travel go villa for Christmas.

All of us go dey OKAY.

Ehen

All these useless hoebi supporters always falsifyin news.....
Fuel never reach 720...
I bought today...
Useless things

Apc supporters will buy it at N100 per liter. Awon olofo.

mrvitalis:

"If we stabilize power supply "

Nigerians are too poor for constant power supply... Anyone who can afford constant power supply have it... It's just fact that you guys don't want to accept

Average Nigeria needs to pay $100 monthly per house for us to have power 24/7


Fuel would sale for 1000 there is nothing anyone can do about it ... You need about $100 to fuel your car monthly

The issue should be focusing on your people earning more than focusing on the impossible of reducing cost

Ignore these agbado e-rats

SoNature:
If we can stabilize power supply, the demand for petrol and diesel will be significantly slashed.

Why is Tinubu not making efforts to build power stations across the country?

Wrong question...!

The real and right question should be:

Where is Mr. Tinubu?!!

It's over... Where is that silly boy that usually dedicate song to this administration Abeg come give Dem one song... Warey

Yoruba people how far? Una never see any thing yet

Where no power and security. They don't beg investors to come into the country they come willingly if the environment is favourable.

creativehubb:

Some products like whiskey, cigars, luxury cars, private jets, expensive body creams, perfume, luxury items in general, government can ban some or put heavy import duties on them, to discourage it's import...we should approach foreign producers to start off manufacturing plants in Nigeria. Critical times call for critical measures. We are looking for how to solve the currency crises, you are talking nonsense.

Who is to be blamed now?

olowale chairman is doing well

BoldBrainz:


Omoh, nairaland is not for me abeg! I'm so over all of this right now.

I weak from the reasonings of some of nairalanders

BoldBrainz:


Lol.

Please, list the specific imports you believe government should tax heavily to reduce domestic demand.

Lol... Everyone is an Economics Expert these days.

Just leave them to keep Googling and bandying theories about the internet space.

This price will favour me and my family

SoNature:
If we can stabilize power supply, the demand for petrol and diesel will be significantly slashed.

Why is Tinubu not making efforts to build power stations across the country?

Story

BoldBrainz:


Nigerians are not too poor to afford constant electricity. Homes and businesses run on petrol generators, if you provide that electricity, Nigerians won't need those generators and will channel those resources to paying light bills.

Create the stable electricity first. Don't put the cart before the horse.

Electricity in my house and area massively improved in the last 6 months, and Voila! I haven't used my generator since.

I now gladly pay more for electricity without complaints.

So all these tankers that won't allow someone to see road along Apapa-Oshodi express way, is it lagoon water they're going to fetch?

Old NIGERIA leaders are d problem of this
NATION

Agbado is busy looking for his original certificate,this one no consign am

creativehubb:

We need to utilize both import ceilings and domestic production, so we achieve quick results. There are so many things we are importing that we do not need, I can not mention all right now, but believe me, if we place import ceilings on some of those things we will live well without them. Especially forcing companies to build production units in Nigeria, companies like Benz, Toyota, Honda, should be producing from Nigeria.

lol so how many Nigerians can afford to buy brand new cars ?

mrvitalis:

Lol you just spoke like a typical Nigeria

What's the percentage of people that run on gen? Most business barely use their gen

90% of Nigerians who can afford constant power have constant power.... If you know you want constant power dont you know an estate in your city with constant or near constant power?

Power is not important to Nigeria now as a president I won't even invest too much into its

Wrong...! You are the one talking like a typically uninformed Nigerian.

Power supply massively improved in my area in the last couple of months... Guess what?!! Generator usage dropped all round by over 80 percent (yes, you heard that right).

Imagine how much fuel consumption and sale would have dropped also... Just do the math

With the improved power supply, more people are servicing and paying bills more regularly and at a higher rate.

Mind you, these are largely middle earners.

Improve power supply to every part of Nigeria with widespread prepaid meters, and watch fuel stations shut down massively all over the nation.

As poor as most Nigerians are, you would be amazed at how much they spend on alternative power sources monthly...

creativehubb:
Government should impose import ceilings on goods we don't really need, we must drastically reduce our imports. If we don't demand dollars, it's value will drop. QED.

You calling for inflation.. lemme ask you do we produce anything?

SoNature:
If we can stabilize power supply, the demand for petrol and diesel will be significantly slashed.

Why is Tinubu not making efforts to build power stations across the country?

Power can now be generated by individual,private organisation and state. This isnt about FG only,what are the state doing? They are building useless airport instead of generating power.

mrvitalis:

Lol you just spoke like a typical Nigeria

What's the percentage of people that run on gen? Most business barely use their gen

90% of Nigerians who can afford constant power have constant power.... If you know you want constant power dont you know an estate in your city with constant or near constant power?

Power is not important to Nigeria now as a president I won't even invest too much into its

What will someone not read on this internet bayi 😱😱😱

creativehubb:
Government should impose import ceilings on goods we don't really need, we must drastically reduce our imports. If we don't demand dollars, it's value will drop. QED.

Start it with pms

Lolz

Soon we will be using water..


Why are we called and oil producing country??

Shebi counties like nigeria no supposed to dey holla but due to bad leader we are crying so tell me why we dont need a military coup ...?