Usmanovic95:


What mechanisms are I place to ease this transition.Is our refineries functioning,has the issue of power been fixed,what about issue of security and how many foreign Direct Investment can we attract as we speak.
The China as we are always quick to cite as a case study of how a country can rapidly develop didn't achieve such stride with a trial and error government policy, development was planned and followed with some set of deliberate,meticulous and favourable government policies.
Nigeria in this situation wants to achieve development by accident with no plan in place.

this is not trial and error policy.

This is the best policy for Nigeria, all we need is electricity and a lower cost of full price to ease production and transportation.
And last time I checked, govt has given license to electricity distribution company while PH refinery is undergoing serious treatment.

I predicted the inflation but I never predicted it to be so fast.
It's a matter of time, we can revamp the economy through this painful way or continuously kill the economy with the old and easy way.

Wainey:
So I am into importation of phones and selling it here in Nigeria, with the recent price hike in everything. My business is reaching a point where it's about to be closed, please what do I do?

there is no shame in switching trades if your current business reaches a tipping point for reasons beyond your power.

In ancient times, you don't complain to Kings or Queens that you are jobless(continuously idle), you do something then pay your tax. And if that something fails, you switch to another thing and keep surviving.

Wainey:
So I am into importation of phones and selling it here in Nigeria, with the recent price hike in everything. My business is reaching a point where it's about to be closed, please what do I do?

even one of the richest african man lost $300M not from any means but from what you are facing lately.may God help us in naija

richmond500:
this is not trial and error policy.

This is the best policy for Nigeria, all we need is electricity and a lower cost of full price to ease production and transportation.
And last time I checked, govt has given license to electricity distribution company while PH refinery is undergoing serious treatment.

I predicted the inflation but I never predicted it to be so fast.
It's a matter of time, we can revamp the economy through this painful way or continuously kill the economy with the old and easy way.

While politicians loot the money and buy expensive suvs

richmond500:
The essence of these policies is to kill importation business and make Nigeria a production country.
Your business is not the only business that is dying, many business that depends on dollar has closed down and more will close too.

Time is coming when Naira will hit 5000 to a dollar. When this happens, foreign products will be difficult to purchase and we will have no choice but to buy made in Nigeria goods cos even a pair of foreign pants will be so expensive that only politicians can afford it while the rest of us will wear plantain leaves.

It's so annoying that the average secondary school student knows the dollar to naira exchange rate, that shows how we depend so much on the dollar and killing our own naira.
Until we patronize our own companies, we can't grow the economy, this painful stage is called the transition stage from foreign to local, the govt is not the problem but the time it takes Nigerians to accept the Nigerian goods will determine how long the pain will last.

In the next five years, we will fully accept our own economy and in the next ten years, we will have an economy that will beat France and Germany cos we have the market already.

Textbook ideas taken too far is what I see here.
Inflation doesn't inspire production like that. I don't see naira devaluation inspiring local production of gadgets for example. No amount of devaluation for example, can inspire production of computer chips fast enough to replace imported ones. Same thing goes for electronics appliances and other advanced products.

What we can produce for now are low tech stuffs like fabric, food, cosmetics, building materials etc.

richmond500:
this is not trial and error policy.

This is the best policy for Nigeria, all we need is electricity and a lower cost of full price to ease production and transportation.
And last time I checked, govt has given license to electricity distribution company while PH refinery is undergoing serious treatment.

I predicted the inflation but I never predicted it to be so fast.
It's a matter of time, we can revamp the economy through this painful way or continuously kill the economy with the old and easy way.

Before certifying a policy as the best, at least a large percentage of the population will bear witness to the positive effect it's having in their source of livelihood. A policy that has crippled local businesses and driven away foreign investor is what you term the best policy, I can't imagine what the you will cite as the worst government policy.
A visionary government would have predicted
the likely aftermath of subsidy removal and curtail the effect some sets of favourable policy to ease the the situation.The so called best policy the came up with was to share palliative money to some registered citizens when such money could have been used to fast track completion of a refinery.
How about some socioeconomic issues like poverty, insecurity, injustice and corruption.Until we eradicate all these is when we can achieve anything close to economic growth.

richmond500:
The essence of these policies is to kill importation business and make Nigeria a production country.
Your business is not the only business that is dying, many business that depends on dollar has closed down and more will close too.

Time is coming when Naira will hit 5000 to a dollar. When this happens, foreign products will be difficult to purchase and we will have no choice but to buy made in Nigeria goods cos even a pair of foreign pants will be so expensive that only politicians can afford it while the rest of us will wear plantain leaves.

It's so annoying that the average secondary school student knows the dollar to naira exchange rate, that shows how we depend so much on the dollar and killing our own naira.
Until we patronize our own companies, we can't grow the economy, this painful stage is called the transition stage from foreign to local, the govt is not the problem but the time it takes Nigerians to accept the Nigerian goods will determine how long the pain will last.

In the next five years, we will fully accept our own economy and in the next ten years, we will have an economy that will beat France and Germany cos we have the market already.

You typed the two bolded and you believed the two can work together

An economy where only the politicians can afford foreign based commodity is what you say will suppasse Germany and France? Mugabe's Zimbabwe is a case study.

Artiiclebeast:


Hahahha

Voodoo economist has spoken...lol

The op will start patronising and buying "made in Nigeria phones".

Una too funny abeg.

This elections just showed hoe terrible Yorubas are, d can defend anything rubbish, they can eat any nonsense and they can live a useless lifestyle

richmond500:
you too will not have a choice when toothpick is N10,000, you either use the made in Nigeria toothpick or you use your finger nails to pick the meat

Like dis ones

richmond500:

There will be heavy inflation at first, even world bank and IMF warned us about the inflation that we will experience before the economy bounce back.
Don't let hatred becloud ur judgement.

Our economy is foreign dependent and it affects every sector of life.

An average SE and SOME SS has dis resilient spirit unlike d rice bandits and plantain thieves we hv in d west

Majesty7:


You just exhibited a very high level of ignorance. You quoted someone who is clearly way above you and you sound so stupid doing it. All these hawkers with android phones...

I rather hawk than do rice banditry.
I rather hawk than stand at every bustop begging
I rather hawk than doing agbero as an occupation.

Your business should crash because you're not doing an essential business



How many people needs phone these days ??

Purvan:
Your business should crash because you're not doing an essential business



How many people needs phone these days ??

hmmmmm

richmond500:
The essence of these policies is to kill importation business and make Nigeria a production country.
Your business is not the only business that is dying, many business that depends on dollar has closed down and more will close too.

Time is coming when Naira will hit 5000 to a dollar. When this happens, foreign products will be difficult to purchase and we will have no choice but to buy made in Nigeria goods cos even a pair of foreign pants will be so expensive that only politicians can afford it while the rest of us will wear plantain leaves.

It's so annoying that the average secondary school student knows the dollar to naira exchange rate, that shows how we depend so much on the dollar and killing our own naira.
Until we patronize our own companies, we can't grow the economy, this painful stage is called the transition stage from foreign to local, the govt is not the problem but the time it takes Nigerians to accept the Nigerian goods will determine how long the pain will last.

In the next five years, we will fully accept our own economy and in the next ten years, we will have an economy that will beat France and Germany cos we have the market already.

Empty head!!!

We plenty die

richmond500:
The essence of these policies is to kill importation business and make Nigeria a production country.
Your business is not the only business that is dying, many business that depends on dollar has closed down and more will close too.

Time is coming when Naira will hit 5000 to a dollar. When this happens, foreign products will be difficult to purchase and we will have no choice but to buy made in Nigeria goods cos even a pair of foreign pants will be so expensive that only politicians can afford it while the rest of us will wear plantain leaves.

It's so annoying that the average secondary school student knows the dollar to naira exchange rate, that shows how we depend so much on the dollar and killing our own naira.
Until we patronize our own companies, we can't grow the economy, this painful stage is called the transition stage from foreign to local, the govt is not the problem but the time it takes Nigerians to accept the Nigerian goods will determine how long the pain will last.

In the next five years, we will fully accept our own economy and in the next ten years, we will have an economy that will beat France and Germany cos we have the market already.

You need to be shy telling this kind of lie to the public.

richmond500:
The essence of these policies is to kill importation business and make Nigeria a production country.
Your business is not the only business that is dying, many business that depends on dollar has closed down and more will close too.

Time is coming when Naira will hit 5000 to a dollar. When this happens, foreign products will be difficult to purchase and we will have no choice but to buy made in Nigeria goods cos even a pair of foreign pants will be so expensive that only politicians can afford it while the rest of us will wear plantain leaves.

It's so annoying that the average secondary school student knows the dollar to naira exchange rate, that shows how we depend so much on the dollar and killing our own naira.
Until we patronize our own companies, we can't grow the economy, this painful stage is called the transition stage from foreign to local, the govt is not the problem but the time it takes Nigerians to accept the Nigerian goods will determine how long the pain will last.

In the next five years, we will fully accept our own economy and in the next ten years, we will have an economy that will beat France and Germany cos we have the market already.

Dey play. You want to industrialize and be globally competitive yet you have not produced a single drop of steel in 40 years! I did not mention electricity o. Jus dey play.

Wainey:
So I am into importation of phones and selling it here in Nigeria, with the recent price hike in everything. My business is reaching a point where it's about to be closed, please what do I do?

For a second, i thought this was one of my posts, you are not alone. Learn to understand that nigeria was designed for the average person to fail. They killed my game biz of 50k daily income, my lounge biz of 150k weekly income.

Wainey:
So I am into importation of phones and selling it here in Nigeria, with the recent price hike in everything. My business is reaching a point where it's about to be closed, please what do I do?

I do same business. It's affecting everyone. Depending on the shipping company, try to get a private shipper if you haven't. Increase your AIN prices too, customers will still buy. That's just it

It's everywhere brother. . Tinubu has heavily messed up everything. .

I urge you to kindly truly and find an online FX earning stuff you can do and it up to your business. .

richmond500:
The essence of these policies is to kill importation business and make Nigeria a production country.
Your business is not the only business that is dying, many business that depends on dollar has closed down and more will close too.

Time is coming when Naira will hit 5000 to a dollar. When this happens, foreign products will be difficult to purchase and we will have no choice but to buy made in Nigeria goods cos even a pair of foreign pants will be so expensive that only politicians can afford it while the rest of us will wear plantain leaves.

It's so annoying that the average secondary school student knows the dollar to naira exchange rate, that shows how we depend so much on the dollar and killing our own naira.
Until we patronize our own companies, we can't grow the economy, this painful stage is called the transition stage from foreign to local, the govt is not the problem but the time it takes Nigerians to accept the Nigerian goods will determine how long the pain will last.

In the next five years, we will fully accept our own economy and in the next ten years, we will have an economy that will beat France and Germany cos we have the market already.

And the government is spending same dollar in 5 stars hotel abroad.
And purchasing brand new SUVs for senators

Wainey:
So I am into importation of phones and selling it here in Nigeria, with the recent price hike in everything. My business is reaching a point where it's about to be closed, please what do I do?

Shift/Crossing are allowed in business, though it's seems to be too late now,..... that's why is good to have alternative/back up when things are still rossy.

Wen the income are still flowing well, you ought to have been involving in other business/activity which is different from main business, if you have done that before that would have been a back up by now.


If u close importing business now and suddenly shift to other business/activity, it would take grace of God for u not to crash totally, because it will be business which you don't have prior experience or knowledge to manage.

richmond500:
The essence of these policies is to kill importation business and make Nigeria a production country.
Your business is not the only business that is dying, many business that depends on dollar has closed down and more will close too.

Time is coming when Naira will hit 5000 to a dollar. When this happens, foreign products will be difficult to purchase and we will have no choice but to buy made in Nigeria goods cos even a pair of foreign pants will be so expensive that only politicians can afford it while the rest of us will wear plantain leaves.

It's so annoying that the average secondary school student knows the dollar to naira exchange rate, that shows how we depend so much on the dollar and killing our own naira.
Until we patronize our own companies, we can't grow the economy, this painful stage is called the transition stage from foreign to local, the govt is not the problem but the time it takes Nigerians to accept the Nigerian goods will determine how long the pain will last.

In the next five years, we will fully accept our own economy and in the next ten years, we will have an economy that will beat France and Germany cos we have the market already.

how can Nigeria start producing when fuel is very costly and no electricity. Also Nigeria cannot produce everything, most companies all over the world use Amazon cloud or Google data center to store data. Do you think Nigeria can produce there own? Hike in dollar will shut down more companies because most foreign services are paid for in dollar

Op, I feel for you, but a nation highly dependent on imports is headed for doom.


The government just needs to find a balance, and seek for ways to wean the country off import-based economy and massively improve internal production.

Like I said severally, this can't happen without addressing the following foundational issues

1. Corruption
2. Electricity supply
3. Insecurity

Wainey:
So I am into importation of phones and selling it here in Nigeria, with the recent price hike in everything. My business is reaching a point where it's about to be closed, please what do I do?

I thought you voted for Buhari back them. That's it now. Now it's renewed shege banza everyone is affected

Purvan:
Your business should crash because you're not doing an essential business



How many people needs phone these days ??

Lol, you know nothing John snow.
We get at least over 50 requests in a day. Phones and laptops worth over 500k.

DEY PLAY!!!😅😅

richmond500:
The essence of these policies is to kill importation business and make Nigeria a production country.
Your business is not the only business that is dying, many business that depends on dollar has closed down and more will close too.

Time is coming when Naira will hit 5000 to a dollar. When this happens, foreign products will be difficult to purchase and we will have no choice but to buy made in Nigeria goods cos even a pair of foreign pants will be so expensive that only politicians can afford it while the rest of us will wear plantain leaves.
It's so annoying that the average secondary school student knows the dollar to naira exchange rate, that shows how we depend so much on the dollar and killing our own naira.
Until we patronize our own companies, we can't grow the economy, this painful stage is called the transition stage from foreign to local, the govt is not the problem but the time it takes Nigerians to accept the Nigerian goods will determine how long the pain will last.
In the next five years, we will fully accept our own economy and in the next ten years, we will have an economy that will beat France and Germany cos we have the market already.

Are the so-called locally made goods are available?

richmond500:
you too will not have a choice when toothpick is N10,000, you either use the made in Nigeria toothpick or you use your finger nails to pick the meat

And you think production is easy in Nigeria? With multiple taxations, poor electricity supply,insecurities etc

Sorry bro

richmond500:
you too will not have a choice when toothpick is N10,000, you either use the made in Nigeria toothpick or you use your finger nails to pick the meat

Stop writing trash here. The government targets certain products and imposes heavy duties on them to discourage people from importing them.

BTW, you are talking about discouraging importation without having stable electricity.
No let me write say you smoke weed this morning. Tinubu is struggling to manage Nigeria's economy. He thinks managing the country is like governing his tiny Lagos.

richmond500:
The essence of these policies is to kill importation business and make Nigeria a production country.
Your business is not the only business that is dying, many business that depends on dollar has closed down and more will close too.

Time is coming when Naira will hit 5000 to a dollar. When this happens, foreign products will be difficult to purchase and we will have no choice but to buy made in Nigeria goods cos even a pair of foreign pants will be so expensive that only politicians can afford it while the rest of us will wear plantain leaves.

It's so annoying that the average secondary school student knows the dollar to naira exchange rate, that shows how we depend so much on the dollar and killing our own naira.
Until we patronize our own companies, we can't grow the economy, this painful stage is called the transition stage from foreign to local, the govt is not the problem but the time it takes Nigerians to accept the Nigerian goods will determine how long the pain will last.

In the next five years, we will fully accept our own economy and in the next ten years, we will have an economy that will beat France and Germany cos we have the market already.

Keep dreaming about it made in Nigeria. The government you are exonerating can't buy made in Nigeria cars for the legislator.