WantsandMore:
importing food never solves a problem. If it did. We wouldn't be in this situation

There are countries that import more than Nigeria and they don't have a mess up economy as nigeria, infact largest importer of foods are US, germany, uk, china.

Benin republic import more than Nigeria yet there economy is not as bad as Nigeria

Where local production can not meet the population demand coupled with insecurity which as being a major challenge to farmers, it won't be a bad idea if the country import food from Neighbouring countries as short a term measure to supplement the nations supply while the govt find lasting solutions

Once upon a time, Nigerians were importing freely from contonuo and other neighbours yet our currency was far better than other west african countries,

with the way Nigerians are bleeding, we need first aid measure i.e short term that will propel instant changes

horpe132:

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In a nutshell, govt should subsidise foodstuffs for now
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Well it sounds good, but I doubt it'll be good in practice....
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Nigerian love free things, if the govt starts that now, it'll be hard to end it... Just like the due subsidy

no.
Govt should buy and resell with minimal profit. That's not subsidy. They beat greedy middlemen.

From what I heard 2 years ago. Some politicians are using it to frustrate the ruling party. They use their wealth to target strategic grains like beans they know are grown in specific area by offering farmers bulk price before harvest. They harvest it into their barns and wait until the limited supply in market start sending prices up then they resell.
It is both political and business move. Two birds gone with a single sling.

If govt import and resell, no opposition middleman can frustrate a ruling party.

More than 30 billion dollar lie fallow in different banks, in the name of domiciliary accounts and we are facing dollar scarcity in the country.Keeping such gigantic amount unutilised is more like hoarding and speculation.Moreover, that sum is close to 34 billion dollar which is Nigeria's budget of 2024.What the government can do is initiate new laws to begin taxing on those money or give time for owners to start converting the dollar into Naira.There are really no long term benefits for keeping such sum if there are put into the running of the economy.

Paraman:
I wander why the Government don't want to import food on the short run... I don't just understand.

Is there scarcity of food in Nigeria There is more than enough foodstuffs in all our markets. The situation is that many Nigerians have been deprived of the capacity to buy food due to it expensive cost caused by the so-called subsidy removal and naira matters. I went out from Ogun to Lagos today and was intentionally watching out for our markets, there was foodstuffs and fruits but few to no BUYERS.
LET THE GOVT STOP CHASING SHADOWS AND ATTEND TO THE REAL MATTER.

have been saying the for long.

RepoMan007:
Lol. He should come clean and tell us the situation of things.

Most people are waiting for dollar to hit N5000 or N10000 before selling and may not yield to the bank's request.


Cancel petrol, electricity subsidies and import food at federal level. He is doing strong head. Farmers won't double their output overnight in an industry dominated by unlearned folks. Never. Import food now or regret it.

Can you go to a us bank to redraw euro?I think they had better start streamlining the bank businesses.Buhari once ban the use of domiciliary accounts I think tinubu should do the same.

airsaylongcome:


It's nobody's business. When I was depositing into the account, did I deposit Naira? Will the banks accept Naira deposit and convert it to dollar? Rubbish talk

What do expect when you decide to loot funds in foreign currency

RepoMan007:
no.
Govt should buy and resell with minimal profit. That's not subsidy. They beat greedy middlemen.

From what I heard 2 years ago. Some politicians are using it to frustrate the ruling party. They use their wealth to target strategic grains like beans they know are grown in specific area by offering farmers bulk price before harvest. They harvest it into their barns and wait until the limited supply in market start sending prices up then they resell.
It is both political and business move. Two birds gone with a single sling.

If govt import and resell, no opposition middleman can frustrate a ruling party.

.
That's why I said, it's sounds good but not practicable...
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1. Govt cannot manage the intricacies of buying and selling... The cahin of command and paper work of govt won't allow is flow..
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2. Civil servants will frustrate this proposal, since they're the ones incharge, they'll sell to their cronies & associate majorly & declare different price tag a govt
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3. If govt use consultants or firms to drive this initiative, the landing/cost will go up, the consultants will also be govt friends and cronies
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4. As of now, Govt cannot buy the needed grains to mitigate this problem off the shelf, it'll need time & all, 2-5months... And there seem to be no time

HateBigots:
... Bulaba came to steal, kill and destroy.
He has achieved the first two.
It remains to destroy

Tinubu is here to complete his work

waveman2:
Can you go to a us bank to redraw euro?I think they had better start streamlining the bank businesses.Buhari once ban the use of domiciliary accounts I think tinubu should do the same.

If I have a Euro based account in the US, of course I can! It's stupidity for me to deposit money to my account in one currency and the bank pays me in another currency when I am withdrawing. You don't sow Cassava and reap cocoyam. You don't sow rice and reap Cassava. As for banning dom accounts, future impossible tense

Seequadry:
10 vessel of forign rice into this economy will balance many things up..... But the power that be must not be touched, let the opoor continue to suffer

Foreign rice to be bought and cleared in what currency?
Naira?

I'm trying to open a dollar account and these banks are bent to change people's money into naira. This is not good for long term bank deposit.

Suddenly they want to let us transact to the tune of $50,000. Only a fool will convert his/her dollar under the old man.

Paraman:
I wander why the Government don't want to import food on the short run... I don't just understand.

Import food from which FX? Even if it work, we will meet the debt in front.

If I remember correctly, I warned those who have domiciliary accounts that the government of presidiot E-Bola Tiefnubu is putting pressure on Banks to mop up $$ from these accounts because the government needs $$ bad. I advised them to quickly withdraw their money from their accounts before they would be converted to worthless Naira notes. Is that NOT what is about to happen now? I had a feckless fellow on this platform by the name of Obierika telling me to STOP spreading FAKE news. I hope this nitwit gets the memo of what's about to happen and that's if he has a domiciliary account. You know some of these fools are nothing but touts and on here to engage in intellectual discourse that they are clueless about. This guy was so adamant about his stand that he asked me to go and drink Sniper because I told him that he did not have enough money to have a domiciliary account. I wonder who is going to drink Sniper now.

Stop using the bank up and down. Na first bank joor. I received the message

RepoMan007:
Lol. He should come clean and tell us the situation of things.

Most people are waiting for dollar to hit N5000 or N10000 before selling and may not yield to the bank's request.


Cancel petrol, electricity subsidies and import food at federal level. He is doing strong head. Farmers won't double their output overnight in an industry dominated by unlearned folks. Never. Import food now or regret it.

So when you wait for dollars to hit 10k for you to convert, what next? Shey you go market you buy, then peak milk that use to cost 400 naira go cost 1400. Wetin you gain?

chidiokay:



There are countries that import more than Nigeria and they don't have a mess up economy as nigeria, infact largest importer of foods are US, germany, uk, china.

Benin republic import more than Nigeria yet there economy is not as bad as Nigeria

Where local production can not meet the population demand coupled with insecurity which as being a major challenge to farmers, it won't be a bad idea if the country import food from Neighbouring countries as short a term measure to supplement the nations supply while the govt find lasting solutions

Once upon a time, Nigerians were importing freely from contonuo and other neighbours yet our currency was far better than other west african countries,

with the way Nigerians are bleeding, we need first aid measure i.e short term that will propel instant changes

infact largest importer of foods are US, germany, uk, china.

Dude no way these countries are the largest importers of food with a stable economy. Benin Republic with a misely population compared to Nigeria, are you kidding me? You live on the internet & can't do a simple Google search? Damn

importing food never solves a problem. If it did. We wouldn't be in this situationimporting food never solves a problem. If it did. We wouldn't be in this situation...

Trust Nigerian government at your peril. You sale your dollars today at 1500, tomorrow exchange rate rises to 3000 per dollar, you lose

WantsandMore:
[b][/b] Dude no way these countries are the largest importers of food with a stable economy. Benin Republic with a misely population compared to Nigeria, are you kidding me? You live on the internet & can't do a simple Google search? Damn

You think i just open my mouth waa and quote what can not be found on net, maybe i don't understand what largest net importer means

https://finance.yahoo.com/news/15-largest-food-importing-countries-195243264.html?guccounter=1


2ndly, concised population does not guaranteee stable economy, venezuela has a population of about 21m yet their economy is in comatose, whereas china, US, indian have outrageous population yet their economy & currencies are waxing strong.


When Nigeria was importing shamelessly from cotonuo Naira was more valueable than Cepha, since govt closed the border what have we gained ? today whats the margin between Naira & cepha ??

All these year, have local production grown beyond single digit,

Islie:


https://thenationonlineng.net/banks-induce-customers-on-conversion-of-dollar-deposits-to-naira/

You don't induce anyone, this should be a law from the FG. Dollars should not leave the Bank for any reason. Change your dollars to Naira. Naira is what we use here.

chidiokay:



You think i just open my mouth waa and quote what can not be found on net, maybe i don't understand what largest net importer means

https://finance.yahoo.com/news/15-largest-food-importing-countries-195243264.html?guccounter=1


2ndly, concised population does not guaranteee stable economy, venezuela has a population of about 21m yet their economy is in comatose, whereas china, US, indian have outrageous population yet their economy & currencies are waxing strong.


When Nigeria was importing shamelessly from cotonuo Naira was more valueable than Cepha, since govt closed the border what have we gained ? today whats the margin between Naira & cepha ??

All these year, have local production grown beyond single digit,

Dude your source was quoted Oct., 2023

Hmmmmm. I strongly believe Access bank is a tool for Nigerian government. Something happened recently and I won't be sharing it. But it is becoming clear now that they are doing the bidding of this government.

Sctests:


Ask any one using the Access bank app with a dorm account. I am shocked at the brazen attempt at thievery by Access Bank.

Thieves, they are.

I have attached the picture.

WantsandMore:
Dude your source was quoted Oct., 2023

Does year make it Lies,

Maybe you don't even know the meaning of [b]"net importer"[/b]press it on google

Dictionary
Definitions from Oxford Languages · Learn more
net importer
noun
a country that imports more than it exports.
"the US is projected to be a net importer of agricultural products for the first time since 1959"
Feedback

chidiokay:





Does year make it Lies,

Maybe you don't even know the meaning of [b]"net importer"[/b]press it on google

Dictionary
Definitions from Oxford Languages · Learn more
net importer
noun
a country that imports more than it exports.
"the US is projected to be a net importer of agricultural products for the first time since 1959"
Feedback

yes, years make it lie. Why do you think when writing a research paper the most references are required?

rottennaija:


So when you wait for dollars to hit 10k for you to convert, what next? Shey you go market you buy, then peak milk that use to cost 400 naira go cost 1400. Wetin you gain?

face front.

JigsawKillah:
This is Peter Obi's fault.
If he had stayed in his house instead of contesting, Cardi B would've known what to do and Banks wouldn't have been this useless.

🤣

WantsandMore:
yes, years make it lie. Why do you think when writing a research paper the most references are required?

You sound like a toddlers, Press Net Importer on google and screenshot what you 1st see

Arguement is not just about coconut head, know when to learn

chidiokay:



You sound like a toddlers, Press Net Importer on google and screenshot what you 1st see

Arguement is not just about coconut head, know when to learn

lol. Some of you when pressed for facts you turn abusive. Why?