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High Exchange Rate: Cargo Import Drops To 65% At Seaports - Business (2) - Nairaland

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CBN Reduces Banks' Loan To Deposit Ratio From 65% To 50% / Tin Can Road: Union Orders Members To Shut Seaports / Nigeriaโ€™s Fuel Import Drops By 42% To N1.7trn In 2019 (2) (3) (4)

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Re: High Exchange Rate: Cargo Import Drops To 65% At Seaports by mrvitalis(m): 11:44am On Oct 24, 2023
Ikaeniyan0:
Did the Nigerian government ban importation?
All our policy since APC came in hace been banning import or try to discourage import

5 Likes

Re: High Exchange Rate: Cargo Import Drops To 65% At Seaports by Ikaeniyan0: 11:46am On Oct 24, 2023
mrvitalis:

All our policy since APC came in hace been banning import or try to discourage import
This issue can't be blame on the government infact, the APC government lifted the ban on 42 or so items few days ago
Re: High Exchange Rate: Cargo Import Drops To 65% At Seaports by Kukutente23: 11:51am On Oct 24, 2023
mrvitalis:

All our policy since APC came in hace been banning import or try to discourage import
Are you minding the despicable idiot? This is the same foolishness they exhibited when subsidy was removed with no local substitution. A good number of them went to town with the propaganda of subsidy is gone, it's been bad.
If not because this APC supporters are irredeemable dullards, you're reading that imports are falling and you're rejoicing when there's no local substitution taking place. Is that not a sign of supply gap happening soon which will further drive inflation?
Yet, the fool thinks naira will appreciate because imports is reported to be dropping.
Most APC supporters are very daft. They are just supporting APC for tribal reasons not that they understand anything

14 Likes 2 Shares

Re: High Exchange Rate: Cargo Import Drops To 65% At Seaports by Ikaeniyan0: 12:16pm On Oct 24, 2023
Kukutente23:

Go and tell your mother to show you your father

You can then ask him to explain the reason you're so daft
K
Re: High Exchange Rate: Cargo Import Drops To 65% At Seaports by mrvitalis(m): 12:55pm On Oct 24, 2023
Ikaeniyan0:
This issue can't be blame on the government infact, the APC government lifted the ban on 42 or so items few days ago
Who placed the ban before was it not APC?

7 Likes

Re: High Exchange Rate: Cargo Import Drops To 65% At Seaports by Funkyswagzz(m): 1:29pm On Oct 24, 2023
Ikaeniyan0:
Well, issues like the one reported in this article will eventually lead to naira stabilizing and inflation reducing

Are you serious๐Ÿ˜ฐ๐Ÿ˜ฐ๐Ÿ˜ฑ๐Ÿ˜ณ๐Ÿ˜ณ

2 Likes

Re: High Exchange Rate: Cargo Import Drops To 65% At Seaports by BestTrades: 1:29pm On Oct 24, 2023


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1 Like 2 Shares

Re: High Exchange Rate: Cargo Import Drops To 65% At Seaports by lexy2014: 1:30pm On Oct 24, 2023
Ikaeniyan0:
If importation have reduce, why is the naira still freely falling against the dollar.

I know the lifting of the ban on some items will make the naira fall at the official window.

Re: High Exchange Rate: Cargo Import Drops To 65% At Seaports by OBIDIENTNAIJA: 1:31pm On Oct 24, 2023
So sad. APC evil reigns form 2015 till present
Re: High Exchange Rate: Cargo Import Drops To 65% At Seaports by FreeStuffsNG: 1:32pm On Oct 24, 2023
SoNature:


Source: https://leadership.ng/high-exchange-rate-cargo-import-drops-to-65-at-seaports/
Hmmm. Some local companies are already filling the supply gap . An indigenous company now produces and export tubular batteries locally and now seeking govt policy to ban the importation and export of the raw materials needed for battery manufacturing.

For the naysayers, below is a reminder from Pastor Giwa

๐Ÿ‘‡๐Ÿฝ๐Ÿ‘‡๐Ÿฝ๐Ÿ‘‡๐Ÿฝ๐Ÿ‘‡๐Ÿฝ๐Ÿ‘‡๐Ÿฝ

โ€œGo to the rural areas, farms, markets, etc, to see those who are really suffering.ย The poor Nigerians are not on social media.

โ€œYou come online every day, post your pictures and videos, and still claim that you are suffering. My brother, you are not sincere to yourself.

โ€œToday, our youths have misplaced priorities because they donโ€™t think straight. They would rather stay online from morning till night instead of using their precious time and money for something tangible.โ€
Re: High Exchange Rate: Cargo Import Drops To 65% At Seaports by Cj4charles(m): 1:33pm On Oct 24, 2023
grin
Re: High Exchange Rate: Cargo Import Drops To 65% At Seaports by SpatialKing(m): 1:33pm On Oct 24, 2023
Bobloco:


Just like saying that high cost of fuel is good for the economy because our roads are free

Don't mind the clowns ๐Ÿคก

6 Likes

Re: High Exchange Rate: Cargo Import Drops To 65% At Seaports by nedekid: 1:34pm On Oct 24, 2023
Bobloco:


Just like saying that high cost of fuel is good for the economy because our roads are free
Lol.
Fuel true true should be made 2k per liter, let the roads be truelly free.
Re: High Exchange Rate: Cargo Import Drops To 65% At Seaports by wittywriter: 1:34pm On Oct 24, 2023
Davicl:
No hope here , and the right to protest has been killed during the endsar, Nigeria government and powerful individual committed genocide against her citizens during that endsar and unfortunately you do not expect justice from same people, it's that sad, now Nigeria are suffering and can't even protest because of fear ๐Ÿ˜จ of been killed and tribalism too

FreeStuffsNG:

Hmmm. Some local companies are already filling the supply gap . An indigenous company now produces and export tubular batteries locally and now seeking govt policy to ban the importation and export of the raw materials needed for battery manufacturing.

For the naysayers, below is a reminder from Pastor Giwa

๐Ÿ‘‡๐Ÿฝ๐Ÿ‘‡๐Ÿฝ๐Ÿ‘‡๐Ÿฝ๐Ÿ‘‡๐Ÿฝ๐Ÿ‘‡๐Ÿฝ

โ€œGo to the rural areas, farms, markets, etc, to see those who are really suffering.ย The poor Nigerians are not on social media.

โ€œYou come online every day, post your pictures and videos, and still claim that you are suffering. My brother, you are not sincere to yourself.

โ€œToday, our youths have misplaced priorities because they donโ€™t think straight. They would rather stay online from morning till night instead of using their precious time and money for something tangible.โ€

nedekid:

Lol.
Fuel true true should be made 2k per liter, let the roads be truelly free.


Wittyness.

1 Like

Re: High Exchange Rate: Cargo Import Drops To 65% At Seaports by Bitcoin: 1:36pm On Oct 24, 2023
Geez
Re: High Exchange Rate: Cargo Import Drops To 65% At Seaports by ShenTeh(m): 1:37pm On Oct 24, 2023
Bobloco:
It has never been this worst

No one mathematician would have forecasted this 10 years ago.

4 Likes

Re: High Exchange Rate: Cargo Import Drops To 65% At Seaports by LZAA: 1:37pm On Oct 24, 2023
Excellent
We will just export igbo and lace and use it to run the economy
We must teach peeetaaa hooobi and eluuu p a big lesson
E*mi loookan
๐Ÿ˜„๐Ÿ˜„๐Ÿ˜„

4 Likes

Re: High Exchange Rate: Cargo Import Drops To 65% At Seaports by nkemoma(m): 1:37pm On Oct 24, 2023
Ikaeniyan0:
If importation have reduce, why is the naira still freely falling against the dollar.

I know the lifting of the ban on some items will make the naira fall at the official window.

Because politicians are still looting in dollars or converting looted naira to dollars

7 Likes

Re: High Exchange Rate: Cargo Import Drops To 65% At Seaports by CHIOMAEZEH: 1:39pm On Oct 24, 2023
forgiveness:
The imoprters should source for produts made in Nigeria and export. The same way they travel abroad to source for product to import to Nigeria.

Don't tell me Nigeria doesn't produce anything. Go to Aba alone and see how shoes, bags, belts are made in larger scales though they can request producers to improve the quality of their products then export to other African countries and as far as the Pacific countries. Don't forget Lagos and also Kano are also producing the same.

Open warehouses and shops in these countries to market and sell these products.

These process is tedious and demands strategic consistent marketing and advertising in those countries but the benefit supercedes the pains.

The same way Hyundai, Samsung, Toyota even Pep stores from South African go to other countries to advertise their products and make money for their countries.

The problem with importers, is the urge to make quick money without hard labor.

Mind you, there are other products prodced in Nigeria here. Adire, Aso Oke, Ankara, Innoson, Nord, Electric cables, Nigerian foods, plastic chairs, etc. You can add to the list.

Importers should upgrade and stop looking for fast money.


This is the only sensible post I have seen in a long while ...you will love long and prosper!!!!
Re: High Exchange Rate: Cargo Import Drops To 65% At Seaports by Bitcoin: 1:40pm On Oct 24, 2023
It's only going to get worse. If you haven't already, convert your savings to bitcoin and stop hoping on the government to fix this mess. For almost a decade, I've been advising anyone and everyone I know to ditch all fiat currencies (naira, dollar, etc) and just hold bitcoin. It's not too late to do so.
Re: High Exchange Rate: Cargo Import Drops To 65% At Seaports by LZAA: 1:41pm On Oct 24, 2023
forgiveness:
The imoprters should source for produts made in Nigeria and export. The same way they travel abroad to source for product to import to Nigeria.

Don't tell me Nigeria doesn't produce anything. Go to Aba alone and see how shoes, bags, belts are made in larger scales though they can request producers to improve the quality of their products then export to other African countries and as far as the Pacific countries. Don't forget Lagos and also Kano are also producing the same.

Open warehouses and shops in these countries to market and sell these products.

These process is tedious and demands strategic consistent marketing and advertising in those countries but the benefit supercedes the pains.

The same way Hyundai, Samsung, Toyota even Pep stores from South African go to other countries to advertise their products and make money for their countries.

The problem with importers, is the urge to make quick money without hard labor.

Mind you, there are other products prodced in Nigeria here. Adire, Aso Oke, Ankara, Innoson, Nord, Electric cables, Nigerian foods, plastic chairs, etc. You can add to the list.

Importers should upgrade and stop looking for fast money.

Say you no sabi wetin you dey talk without saying you no savi wetin you dey talk๐Ÿ˜„๐Ÿ˜„

1 Like

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