FG Raises Exchange Rate For Cargo Clearance To N951/$ - Politics (5)

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FG Raises Exchange Rate For Cargo Clearance To N951/$ - Politics (5) - Nairaland

Nairaland Forum / Nairaland / General / Politics / FG Raises Exchange Rate For Cargo Clearance To N951/$ (17568 Views)

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Re: FG Raises Exchange Rate For Cargo Clearance To N951/$ by Cantonese: 6:08pm On Dec 07, 2023

Una dey see APC government?

Re: FG Raises Exchange Rate For Cargo Clearance To N951/$ by Iamzik: 6:39pm On Dec 07, 2023

ambale:

What efforts have the current government put into developing local production

Making importation difficult will only jack up prices more

Abi una no dey live this country ni?

You dey mind APC zombies?
They all clapped when akpabio spent billions importing SUV for members of national thievery assembly while we have the likes of Nord and Innoson.

They seem to hate importation only when it serves their narrative

Re: FG Raises Exchange Rate For Cargo Clearance To N951/$ by popcykaylah(m): 6:52pm On Dec 07, 2023

femisplash:

Exactly the point, let's keep importing everything including toothpicks and eggs and naira keeps going down. Trash

Production in a country where it depends on the petrol and diesel for power ?

1 Like

Re: FG Raises Exchange Rate For Cargo Clearance To N951/$ by popcykaylah(m): 6:52pm On Dec 07, 2023

popcykaylah:

Production in a country where it depends on petrol and diesel for power ?

Re: FG Raises Exchange Rate For Cargo Clearance To N951/$ by Jemex003: 6:53pm On Dec 07, 2023

Kukutente23:

Stop capping trash. Nigeria export more than we import

What do you have to import? Akpu? Stalk fish? Ugwu?

Re: FG Raises Exchange Rate For Cargo Clearance To N951/$ by sirblend: 6:55pm On Dec 07, 2023

According to some Yôrûbas, Tinubu is doing it to pepper the IGBôS

Re: FG Raises Exchange Rate For Cargo Clearance To N951/$ by Nicepoker(m): 6:57pm On Dec 07, 2023

Kukutente23:
What difference does that make

A lot. Take for instance. A barrel of crude oil goes for $77. After refining what is realised from the barrel is far more than $77.

1 Like

Re: FG Raises Exchange Rate For Cargo Clearance To N951/$ by Princeton92(m): 7:28pm On Dec 07, 2023

Bobloco:

What are you producing
Tell one single thing you produce

I see you belittle on yourself too much just as you do your country....
We have IVM and Nord cars, shoes made in Abba and Lagos, crude oil, fabrics, tyres, plastics, etc

1 Like

Re: FG Raises Exchange Rate For Cargo Clearance To N951/$ by BigIyanga: 7:48pm On Dec 07, 2023

Princeton92:

I see you belittle on yourself too much just as you do your country....
We have IVM and Nord cars, shoes made in Abba and Lagos, crude oil, fabrics, tyres, plastics, etc

Why arent you and politrickians using IVM and Nord?
What is the name of vehicle tyre peoduced in Naija?

Re: FG Raises Exchange Rate For Cargo Clearance To N951/$ by aimmoney9: 8:03pm On Dec 07, 2023

Winning123:

Must you import. Use made in Nigeria to reduce import and save the Naira. I support the FG.

The bullet proof cars your senators, president and vice president are using are made in Nigeria abi....... grin

The clothes you have bought for Christmas or you are going to buy are made in Nigeria abi...... grin

The drugs you buy at the pharmacy that are used for saving lives are made in Nigeria abi..... grin

The heavy equipments used in the hospitals for surgery, scans and tests are made in Nigeria abi....... grin

Do you know that even U.S.A import a whole lot from China........ grin

No country is an island...... grin

All Nigeria need to be a great producing country, is UPS (uninterrupted power supply) I.e power (electricity, not grab it and run with it) 24/7......... grin

Any govt that will achieve this has solved all Nigeria's problems........ grin

Producing becomes cheap, innovations and inventions will be ubiquitous, electric cars, and electrified trains will abound, technology in Nigeria will skyrocket and it is only technology that can make a country's citizens lives better, easier and safer........ grin

Re: FG Raises Exchange Rate For Cargo Clearance To N951/$ by overseasnbeyond: 8:17pm On Dec 07, 2023

abeg how much is dollar today?
tell me when e don reach N2000/$1

ogododo:

https://punchng.com/fg-raises-exchange-rate-for-cargo-clearance-to-n951/

Re: FG Raises Exchange Rate For Cargo Clearance To N951/$ by BreconHills(m): 8:27pm On Dec 07, 2023

Bobloco:

What are you producing

Tell one single thing you produce

I am surprised that you cannot see the relationship between the scale of imports and low incentive to produce locally. And it isn't that people are not trying.

Nigerian non-oil exports grew by almost 40 percent in 2022, to reach $4.820 billion. Semi-processed and manufactured products accounted for almost 37 percent of these exports, surpassing agriculture's 30 percent.

It is our appetite for all things foreign that is the greatest drain on our reserves and consequently the value of the naira. Now those imports will be priced out and we will not die.

What we need is to ensure steady electricity to our industrial parks and support for the entire value chain. The infrastructure is coming together piece by piece.

Anyone that says such transitions will not be painful is a liar and possible unintelligent.

Re: FG Raises Exchange Rate For Cargo Clearance To N951/$ by Blackdisciple(m): 8:49pm On Dec 07, 2023

Bobloco:
Every single day, Tinubu's calamitous economic policies keep moving millions of Nigerians into poverty

It's very unfortunate bro...
Same people who supported protest against GEJ back then are no were to be found and those are the same puvvy ass asking nigerians to sacrifice....

Re: FG Raises Exchange Rate For Cargo Clearance To N951/$ by Ishilove: 9:07pm On Dec 07, 2023

Tenshades:

If you have a personal car, I'm 10000% sure it's not made in Nigeria.

I'm 10000% sure it's neither NORD nor INNOSON.

Your govt that wasted billions of naira didn't use made in Nigeria. We know your type. Na oloriburuku una be. E ò ní gbádùn. Èyin wèrè gbogbo.

I concur

1 Like

Re: FG Raises Exchange Rate For Cargo Clearance To N951/$ by Princeton92(m): 9:26pm On Dec 07, 2023

BigIyanga:

Why arent you and politrickians using IVM and Nord?
What is the name of vehicle tyre peoduced in Naija?

FYI.... I'm a big fan of those two companies I'm just not buoyant to get one also innoson at some point made tyres in 042 sha

Re: FG Raises Exchange Rate For Cargo Clearance To N951/$ by Mrpojj(m): 10:27pm On Dec 07, 2023

ogododo:

https://punchng.com/fg-raises-exchange-rate-for-cargo-clearance-to-n951/

The importer will put the cost on me and you

Re: FG Raises Exchange Rate For Cargo Clearance To N951/$ by obi58: 10:29pm On Dec 07, 2023

femisplash:

Exactly the point, let's keep importing everything including toothpicks and eggs and naira keeps going down. Trash

If you don't understand right now the role of FX on the hyper inflation we are currently experiencing on everything and how we are progressively getting poorer by these inhumane economic policies then you really need to go for psychiatric evaluation.

Re: FG Raises Exchange Rate For Cargo Clearance To N951/$ by atinga1: 11:22pm On Dec 07, 2023

femisplash:

Exactly the point, let's keep importing everything including toothpicks and eggs and naira keeps going down. Trash

You haven't answered the question. I was also waiting for you to answer, but it looks like the cat got your tongue.

Re: FG Raises Exchange Rate For Cargo Clearance To N951/$ by Whois(m): 5:25am On Dec 08, 2023

Please answer the question "what do you produce"?

femisplash:

Why are you guys so aggressive about importation?, has it not done enough damage on the economy?

Re: FG Raises Exchange Rate For Cargo Clearance To N951/$ by Nerdnextdoor: 6:12am On Dec 08, 2023

I doubt your familiarity with the intricacies of residing within this nation or comprehending the complexities of managing a production enterprise. It appears conceivable that you may be affiliated with the political sphere associated with the present admin in power, presumably lacking genuine insights into the actual state of affairs within the production sector. Consider the exigency of a reliable power supply essential for the seamless operation of manufacturing facilities. Are you cognizant of the daily expenditure incurred on diesel for sustaining production activities? Presently, it seems more economically judicious to import goods rather than engage in domestic production. The exodus of numerous production entities from the country is indicative of this prevailing trend. Prior to imposing exorbitant import duties, the government, which you ardently endorse, should prioritize furnishing a stable power infrastructure and a conducive operational milieu that fosters economical production costs. The discernible dearth of such foundational elements exacerbates the predicament, rendering imported goods more affordable than their locally manufactured counterparts. It behooves a government to institute accompanying measures to mitigate the repercussions of its policies, ensuring a safeguard against the inflationary impact on essential commodities, thereby alleviating the burden on the common Nigerian man.

femisplash:

College kids in Asian countries cobble together the phones imported, you look for dollars to bring these phones while college kids get paid, aren't you shameless?. it is corrupt minds like you that had deliberately sabotaged the refineries so they could keep importing fuel. No nation develops with 90% import dependency. This lazy and greedy mentality has to stop.

1 Like

Re: FG Raises Exchange Rate For Cargo Clearance To N951/$ by blesdman(m): 6:26am On Dec 08, 2023

ogododo:

https://punchng.com/fg-raises-exchange-rate-for-cargo-clearance-to-n951/

Nigerians should avoid imported goods, them no go gree

1 Like

Re: FG Raises Exchange Rate For Cargo Clearance To N951/$ by Olaideolayemi(m): 7:09am On Dec 08, 2023

Everything na increased?Nawa for these government..

Re: FG Raises Exchange Rate For Cargo Clearance To N951/$ by monex(m): 8:14am On Dec 08, 2023

phemray:

Thank God Nigerian dodge a bullet, they can never produce anything. It's only campaign slugan.

imagine what is going on now at Tincan, igbos are crying just few weeks Thier own was appointed to replace the Yoruba man that was there. All igbo man na so so business sense to enrich themselves not even Thier brothers. If u must buy a car, go for locals cars producer. Lol

if only the current govt would take your advice

Re: FG Raises Exchange Rate For Cargo Clearance To N951/$ by Adolfnigeria: 6:11pm On Dec 08, 2023

@Femisplash,

It be like sey u dey slow

Use your IQ, this was the sign of the government's intention to further devalue the naira.

Stupid likes and shares.. make una dey think and stop acting like zoombies.

https://www.nairaland.com/7935074/yuletide-prices-goods-rise-cbn

femisplash:

Look at that, cargo clearance. Y'all turned the country into a dump site with all kinds of junks being wasted on dollars, shameless wailers. During the election, they were screaming "from consumption to production" yet they are the biggest culprits of importation. Crying over another man's currency than to strengthen the local currency.

Re: FG Raises Exchange Rate For Cargo Clearance To N951/$ by XAUBulls: 8:10pm On Dec 08, 2023

ogododo:

https://punchng.com/fg-raises-exchange-rate-for-cargo-clearance-to-n951/

Re: FG Raises Exchange Rate For Cargo Clearance To N951/$ by Ibrahimmufutau: 10:01am On Dec 09, 2023

Treadway:
you should have just poured your heart out in Arabic or Hausa...at least that way, the few folks here who know Arabic/Hausa would have been able to understand what you wrote. Now na only you understand the gibberish wey you write.

Well, the silver lining here is that your gibberish stays with you only, since it can't/won't be absorbed by anyone else here😎😁💯 Only the children of hate with shallow gumption would not understood simple elementary economy. I can't be waiting my precious time in trading words with u. Senseless Nairaland's 'jober'.

Re: FG Raises Exchange Rate For Cargo Clearance To N951/$ by grandstar(m): 12:58am On Dec 11, 2023

DeLaRue:

Wow...

Thank goodness you are not in charge of the Nigerian economy.

No country in the world practice what you're advocating.

You want to ruin the Nigerian economy, destroy the naira, and condemn Nigeria to permanent economic dependency - all because you want to be able to buy what other countries produce cheaper even if it means destroying Nigeria 's manufacturers.

I wrote this "I believe in open borders. Lift all bans and apply low tariffs on imports of goods and services" and you replied with the above.

You said not country practises what I wrote.

You're completely wrong. It is based on fiction.

What do you understand by the European Union? This is the largest trading block in the world.

Countries within the EU can export duty free to other EU countries. There's also free movement of EU citizens to find work. For instance if I am Portuguese, I can move to Germany or Italy with no restrictions to seek for work..

The EU is also a single market. Once a good enters into any EU country from abroad, it can be moved to other EU countries without a further need of tariff.

Make a search for the average import duty for goods rich nations like America, EU and so on. The rate is less than 8%.

If you decide to Google for fast growing emerging economies like Malaysia or Indonesia, the import duty is not up to 20%.

You don't need to ban this and that to produce locally. Such protectionism has failed to industrialize the Nigerian economy has it is counterproductive.

Nigeria needs an export or perish mantra to industrialize the country. That was what South Korea, Japan, and China used to become prosperous. In the mid 1980s when Brazilian businessmen visited China, they experienced difficulty finding products they could import from there.

However, China rise was by setting up Special Economic Zones in 5 provinces. These zones are similar to the EPZ we have in Nigeria. These zones encouraged foreign companies to set up factories and manufacture goods for exports. This was the foundation of the Chinese economic prosperity it enjoys today.

Nigeria needs to focus on an export or perish mantra. If properly done, I see no reason why in 5 years time, the countries exports should not be growing by at least $10billion a year. This alone will produce about 1 million new jobs annually.

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