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.

I bet you wouldn’t say all these if it was Jonathan on that seat. Oloriburuku somebody.

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.

This a foolish thought. No country can do without importation of some foreign products. Stop thinking like a cow bro.

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.

Senseless, the govt… is not creating enabling environment for investors to coming , no manufacturing industries, nothing nothing, what are you saying here I don’t get

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?

Teach me your business let's partner.

I have capital

richmond500:
It's a matter of time.
Local Companies will spring up, it's a matter of time.
We are too engrossed in foreign products and that is why the effect is so hard on us.

Things will go back to normal, its a good policy, let's just endure for a little longer

This nitwit is provoking me the more.

Can you shut up, you hypocrite??!

He is part of the APC usxless supporters now crying. They don't use their head. Supporting someone that did not even go for a debate. He was among those shouting Awalokan.

Eriokanmi:
Their useless supporters would soon come for you. They'd say we should discourage import end encourage export and naira would become stronger, as if that's the main cause of fx brouhaha, as if we can produce everything locally. APC administration has lost it and this has nothing to do with hate. Those who voted tinubu are also feeling the heat. Nobody is spared.

Meanwhile, there are many countries who import almost everything yet, their economy remains stronger as ever. Shebi we still get crude oil and agricultural products we we dey export, many developed countries dont have such yet, they're prospering. The problem is corruption. When a corrupt leader is now in power, the situation becomes worse because he will draw his fellows to work with him.

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...

some hawkers can feed you mumu,thief thy will catch you one day , you will go to jail keep despicin ppl working hard for their daily need . scammer

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're clueless.

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.

please can you mention made in Nigeria goods that Nigerians are not patronizing? Because if you check very well, we are buying our own cement from dangote, we are buying our own made in ABA products, we are also buying our own agbo( native medicine). I think what the government should have done is to first give stable electricity to attract foreign investors so that they can manufacture this phones locally and they also have to empower the local products manufacturers in Nigeria.. if the Nigeria government even want this country to progress let us even go into mechanized faming so that we export our local products. If we use two hundred million the government used in purchasing jeeps for house of reps to farm, my dear by next year Nigerians will be smiling. My brother this people don't want to help, they know what they are doing

Andrenalin:


Senseless, the govt… is not creating enabling environment for investors to coming , no manufacturing industries, nothing nothing, what are you saying here I don’t get

It's magic. Just make life difficult for people and local companies will spring up by magic. These guys are geniuses.

Pressure on the dollar is too much and China has offered a simple solution to save our dieing economy - Yuan/Naira Swap.

90% of our Electronics, Plants and machinery comes from china, so what's stopping tinubu from embracing this deal. Is it the fear of USA?

richmond500:
It's a matter of time.
Local Companies will spring up, it's a matter of time.
We are too engrossed in foreign products and that is why the effect is so hard on us.

Things will go back to normal, its a good policy, let's just endure for a little longer

Why are the senators not buying made in Nigeria SUV. Do you know how much billion we are spending on SUV for them. Govt should be showing example.
It was alleged that they shared dollar envelopes during delegates and general elections. Now they are crying foul. They should stop dollarizing the economy. Why did they not share naira envelopes. They other day a member of the legislative wanted to appreciate his personal staff and share dollars for them publicly.
Did you see the list of major import for 2022 shared earlier in this chat, 76.7% of total import and no consumer goods in there. Local production is key no doubt but this narrative is not entirely true. Who spends dollars physically in the street of Nigeria no one. So why do we have dollar flying around everywhere. Digitize dollar and restrict dollars transaction to online only after all no one pays for goods and services with dollar cash. That way these transactions can be tracked monitored and controlled to the level of willing seller and willing buyer that They want.
The highest import is fuel. They have not been able to tell us why after billions of dollars the refineries are not work. They are not probing the monies.
May it surprise you that we import cooking gas from Niger and Angola even though we a gas exporting country.
There is something fundamentally wrong with Nigerian leadership. First it was PDP and now it APC with 8 years of nothing to write home about. Even some policies signed by Buhari were not implemented because a cabal is benefiting from it.
They sell us this narrative. Yes local production is key.
Why don't dey subsidy tariff on modular refineries, drug manufacturing, equipment and parts manufacturing.
MAN. Manufacturing association of Nigeria is crying for help but no body is listening to them.
Foreign investors are waiting but we need to get security and power right but govt is not looking in that direction. Who will pump his billions of dollars in a country where is live is not guaranteed or spend so much on power.
Most developed or developing countries don't develop them selves alone there are foreign investors. We have all it takes minerals and others for investors to be flocking around but there are watching.
To set up manufacturing locally you also need foreign support with this dollar rate and instability, it discourages investors.
See food, some farmers can't go to the farms. So annual yield is low. Bandits have taken over so farming communities so people can't go to farms. This is also contributing to food crisis and inflation.
Members of this govt has been around for some time now, best is to set up a team do some brainstorming and profer short, middle term and long term solution. Not this back and forth with a population of about 200m and large economy like ours

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 just went through your posts, you are part of the problem of Nigeria and you are part of the cause of your problem I'm very sorry to say....

olaztek:
Pressure on the dollar is too much and China has offered a simple solution to save our dieing economy - Yuan/Naira Swap.

90% of our Electronics, Plants and machinery comes from china, so what's stopping tinubu from embracing this deal. Is it the fear of USA?

I remember Falana said on Channels that he wrote Emefiele about this.
I think he said the reply got was they are still processing the procedure. So you may be right fear of the west, IMF AND WORLD BANK

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.

Wat are u even saying. Where are the companies dat wants to do local production. Where are the raw materials. No ekectricity. Abeg nor annoy me this morning. Y is dollar to yuan not affecting the US economy. De judt imported how many SUVs. Wat stips dem from patronizing innoson vehicles or give him support to produce quality standards if de are afraid its not up to.

Nigeria I hail thee

My own is that,I need a job oo, financial Accountant with no job. Someone should help my life oo.

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.

Which company in Nigeria produces phone mr man

How many times have government officials patronize Nigerian hospital ?

Don't be a lun.tic claiming to be wise.

We dont have the technology to produce phone, or oil. Neither do we have the technology to produce TV or other digital accessories.

Until this technology is put in place and are running, until government officials start patronizing Nigeria Hospitals, we are all doomed in the country.

Your 30k monthly stipend will still not be enough.

Artiiclebeast:


Hahahha

Voodoo economist has spoken...lol

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

Una too funny abeg.

#BuyNaija and stop being a pessimist.

God bless Nigeria

pendusky:


Just vote right next time

I don't think that's the problem. No matter how one voted, the votes doesn't count. Elections are rigged and is never free or fair.

frank317:


so what do we produce in our country that u need us to priortize buying? Whats the name of Nigerian phone that u are producing?

Stop being a pessimist just because Peter Obi lost the elections

Iamanoited:
Don't buy FOREIGN MADE. Buy locally made products. DIVERSIFY into agriculture. LET NIGERIA eat well FIRST.

Very true..

God bless Nigeria.

The level of ignorance displayed in this post is off the charts.

You can tell when someone cannot think for themselves but has outsourced their thinking to others.

This fellow knows nothing about how economy works but is just parroting what he heard probably from the govt.

Also he has no experience in the real sector.

If you talk to any manufacturer in Nigeria, they will tell you that their greatest problem is the cost of doing business. In Nigeria, the direct and indirect taxes, fines and levies, the weak Naira making imported raw materials so expensive, coupled with the high cost of diesel and electricity ensure manufacturing is a very painful process with low margins.

Ask this fellow whether it's because Nigerians prefer imported stout that made Guinness Nigeria just announce a N19 Billion loss. In one year. N19b

Some raw materials are imported into every country on the planet and this joker thinks that a country can produce all its raw materials itself and then manufacture everything by itself.

Rubbish.

Even China, the world's manufacturing hub imports crude oil.

Germany, the largest economy in Europe, imports, so who is Nigeria not to import some things?

When people are discussing economy everybody will just jump out and chook mouth.

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.

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.

.. what do we produce in nigeria...we just have very few industries that are working and even struggling to survive the hard economy... some other industries have shut down down due to the hard economy

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.

It's been a long time, Imbre.
Welcome back
Are you still in PH?

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.

Please how many companies do we still have producing anything with the way they are shutting down due to the same unfavorable government policies?
How many countries can become competitive with the epileptic power supply situation we have had for years? So long as we continue voting in misfits we will still keep on having the same recurring problems.
Coincidentally I was watching a documentary about how Israel was able to develop themselves to the level they are today and I found that we are way of the par and will never get it right so long as our love affair with criminal-minded leaders continues.

abhosts:
You guys continue to tell the same lies even when it is obvious you are saying nonsense. Did closing the border and banning imported rice make local rice any cheaper? Did the naira gain a single percent against the dollar then?

China that is the manufacturing hub of planet earth spent $3.1T on imports in 2022 alone. Their total exports that same year was $3.4T . So more local production does not lead to less importation, rather it increases the demand to import because one country can't produce all the raw materials and components involved in the manufacturing process.

You people that cannot point to a single successful multi-billion naira business of your own, would be giving useless economic analysis.

Richmond500, this defies the level of your comprehension, ba? Because I was EAGERLY looking forward to your response to this.

You want to kill importation?

Because a country in this 21st century is an island abi we should reverse back to being an "uncontacted Nigerian tribe" so we would have no need for modern products and goods and services.

Oro iranu.

Like you mean in ten years time, we would be building massive ships and aeroplanes to rivalled those of the developed world? Nigeria would be making an NPhone (IPhone equivalent) 50? Which graduates go dey produce those ones, abeg? Shey with the ongoing wave of brain drain and japa? (Oh, I see why you want to keep some of us locked in this country forever with both internal and external restrictions from your inactions).

What do you have to say about the quoted figures above?

Point me to one country that this your "model" has worked for o. A country that killed importation and is a world power today or amongst the world powers. Is it the US? France? Russia? Or it's Mozambique?


Please, walk us through how they did, and especially address the above comment. I noticed you conveniently ignored it. Explain it to us like five-year-olds since we're obviously lay and uneducated people who aren't privy to the realm of your mighty economic knowledge.

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?

GET your PVC ready and wait for 4yrs.

pendusky:


Just vote right next time

Your foolishness didn't allow you to reason that maybe he did "voted right", whatever the phuck that means in your warped mind. Oponu.

wisdomkid:



A total garbage writeup. Foreign market is 100% needed in all countries. Even the US and China needs it too. China buys crude (Fuel), etc, and other natural resources needed for production, like... How do you think? Even your principal knows this. Is there any made in Nigeria phone? What did you use in typing this write up?

Made in Nigeria MUSA phone, or what? Your foreign reserve is in dollars, I don't understand hoodlums. You country borrows in dollars, oh my lawd... I detest hoodlums

Guy u wicked o. Being daft doesnt make him a hoodlum naa

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 get point

this is a point i should add to my post

abhosts:


You guys continue to tell the same lies even when it is obvious you are saying nonsense. Did closing the border and banning imported rice make local rice any cheaper? Did the naira gain a single percent against the dollar then?

China that is the manufacturing hub of planet earth spent $3.1T on imports in 2022 alone. Their total exports that same year was $3.4T . So more local production does not lead to less importation, rather it increases the demand to import because one country can't produce all the raw materials and components involved in the manufacturing process.

You people that cannot point to a single successful multi-billion naira business of your own, would be giving useless economic analysis.

Don't mind them giving uselessx economic analysis. Mshewww