Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,153,222 members, 7,818,761 topics. Date: Monday, 06 May 2024 at 12:51 AM

CBN Lifts FX Restrictions On Milk, Dairy Products Import To Crash Prices - Business (2) - Nairaland

Nairaland Forum / Nairaland / General / Business / CBN Lifts FX Restrictions On Milk, Dairy Products Import To Crash Prices (23457 Views)

CBN Lifts Ban On Cryptocurrency Transactions / CBN Lifts Restriction On Domiciliary Accounts, Allows $10k Withdrawals / BUA Group Vows To Crash Prices Flour, Sugar, Others (2) (3) (4)

(1) (2) (3) (4) (5) (Reply) (Go Down)

Re: CBN Lifts FX Restrictions On Milk, Dairy Products Import To Crash Prices by CodeTemplar: 2:47pm On Mar 20
Omohayek finally used his influence to get this done. Always shouting about cost of poultry per KG outside.

More demand for forex loading.
Re: CBN Lifts FX Restrictions On Milk, Dairy Products Import To Crash Prices by socialmediaman: 2:48pm On Mar 20
Re: CBN Lifts FX Restrictions On Milk, Dairy Products Import To Crash Prices by samwash(m): 2:48pm On Mar 20
Am yet to understand this country ooo!!!
Waytin we dey produce for this country self ?
Everything na importation, what is happening to our local production sectors, the Nigerian government are not helping matters in terms of local content.
Our hunger just dey start .

3 Likes 2 Shares

Re: CBN Lifts FX Restrictions On Milk, Dairy Products Import To Crash Prices by unavailablecity: 2:49pm On Mar 20
More deman on FOREX hiiihiiii wahala x2
Re: CBN Lifts FX Restrictions On Milk, Dairy Products Import To Crash Prices by Godfullsam(m): 2:50pm On Mar 20
Good idea !

They should lift restrictions on cement and rice abeg

1 Like

Re: CBN Lifts FX Restrictions On Milk, Dairy Products Import To Crash Prices by babayinka77(m): 2:52pm On Mar 20
budaatum:


While increasing unemployment because you'd rather buy imports?

This economics of employment is at times funny in Nigerian context. Even the employed can not feed...it is well with us.

1 Like

Re: CBN Lifts FX Restrictions On Milk, Dairy Products Import To Crash Prices by advanceDNA: 2:54pm On Mar 20
Omalicious1:


The middlemen wouldn't reduce the price...

It is not even middle men that's the problem now..this intervention of the CBN is just medicine application after death.....
..
The currency naira is not in a good position for importers...anything imported into this country at N1600 per dollar will be crazily expensive....

2 Likes

Re: CBN Lifts FX Restrictions On Milk, Dairy Products Import To Crash Prices by Paraman: 3:00pm On Mar 20
Dreal1247:
It's only going to bear fruits when there are multiple persons importing the commodities into the country. Otherwise, greed won't allow the monopolistic importers to reduce the prices.
Before, only few people/companies importing milk/diary products were able to get dollars at the official rate, the rest of the people/companies had to go and get their dollars at the black market.

But right now, every person/company importing milk/diary products will both get dollars at the official rate.
Re: CBN Lifts FX Restrictions On Milk, Dairy Products Import To Crash Prices by Lovenorth: 3:01pm On Mar 20
tolue42:


You are the one not following. They shut the borders believing local productions will pick up and at a reduced price. But it's obvious our people are even selling at same price importers put on their goods despite sourcing for dollars through black market. So why continue suffering the citizens?
Why lifting it now?
Re: CBN Lifts FX Restrictions On Milk, Dairy Products Import To Crash Prices by budaatum: 3:01pm On Mar 20
babayinka77:

This economics of employment is at times funny in Nigerian context. Even the employed can not feed...it is well with us.

Well, I guess that depends on what we mean by employed.

Imagine I buy a car made in USA by Americans who were employed to design and build it and transport it to me after all the good life has been driven out of it.

The only employment I'd get out of that is mending it and changing it's oil every so often, while the Americans who made it earn a pension on top of the wage they already earned making it.

Can you see how my unemployment might be because I export jobs I ought to be doing for myself?

Damn! I'm so unemployed that I don't even process my own crude oil, but export the job to be done abroad and buy petrol from those I pay abroad to be employed.
Re: CBN Lifts FX Restrictions On Milk, Dairy Products Import To Crash Prices by chidiokay: 3:01pm On Mar 20
bonechamberlain:
angry

What is this government doing about production. We import milk, diary products, fish, chicken etc when we large swath of ocean, cows roaming aimlessly, vast lands.

The greatest war Nigeria has been facing is economic war, both from external powers and internal saboteurs.

There are some countries hell bent on ensuring Nigeria remains import dependent and their are some Nigerians hell bent on ensuring they are the only ones who should produce and sell food and other commodities.

For the sake of humanity divide Nigeria.. Wole Soyinka.
angry


.Have we not tried, have we no sacrificed, for over 8yrs Buhari govt decided to promote and foster local production by banning importations ...8yrs after what did Nigeria achieve? what have Nigerians gained ?

Asides that these local products come in lower quality compared to foreign ones ... they are not even cheap.

I think Nigerians deserve a break, the immediate solution to the food price crisis is for FG to open border and lift ban ... these will crash the prices of goods, let people catch a breath

5 Likes

Re: CBN Lifts FX Restrictions On Milk, Dairy Products Import To Crash Prices by Yashita: 3:01pm On Mar 20
Didi2d:


Seriously, I don't know why the government are wasting time on border opening.
They should lift ban on rice, cos I don't understand why rice iss still expensive.
For over eight years now, buhari government in other to encourage local farmers closed the borders, instead this move to make rice surplus and cheep, farmers decided to do otherwise

Sincerely I wonder why our local rice is costly, almost same price as imported

4 Likes

Re: CBN Lifts FX Restrictions On Milk, Dairy Products Import To Crash Prices by searchlight: 3:02pm On Mar 20
mohbadliveson:
I must really commend Cardoso. Pounds and Dollars have been falling massively
Not until 1$ = 200#

1 Like

Re: CBN Lifts FX Restrictions On Milk, Dairy Products Import To Crash Prices by HRMK: 3:03pm On Mar 20
ALL THOSE ONES ARE NOT POORMAN'S FOOD!THEY ARE FOR THE RICH&WEALTHY!!
Re: CBN Lifts FX Restrictions On Milk, Dairy Products Import To Crash Prices by Chicagograduate(m): 3:06pm On Mar 20
budaatum:


While increasing unemployment because you'd rather buy imports?

Where is the employment?

1 Like

Re: CBN Lifts FX Restrictions On Milk, Dairy Products Import To Crash Prices by Samunique(m): 3:08pm On Mar 20
Zwooks:
Hypocrites. Do the same to cement
Those people are wicked and useless, who dey drink milk?
Milk na food for the adults?

While not open the border for other essentials like rice, cement etc
Re: CBN Lifts FX Restrictions On Milk, Dairy Products Import To Crash Prices by budaatum: 3:08pm On Mar 20
Chicagograduate:
Where is the employment?

Abroad, where you import from.

1 Like

Re: CBN Lifts FX Restrictions On Milk, Dairy Products Import To Crash Prices by chidiokay: 3:08pm On Mar 20
samwash:
Am yet to understand this country ooo!!!
Waytin we dey produce for this country self ?
Everything na importation, what is happening to our local production sectors, the Nigerian government are not helping matters in terms of local content.
Our hunger just dey start .


In a country where 80% of graduants wait for white collar job in a country where power supply can be interupted for 48hrs in a country were both the govt and citizens are looking for shortcuts

How can local production grow?? importation is not as bad as we make it seem our problem in these country is who we are
Re: CBN Lifts FX Restrictions On Milk, Dairy Products Import To Crash Prices by Chicagograduate(m): 3:09pm On Mar 20
mohbadliveson:
I must really commend Cardoso. Pounds and Dollars have been falling massively
When Buhari (From frypan) handed over to Tinubu (To fire) a dollar was ₦700.How much is the exchange rate currently?

1 Like

Re: CBN Lifts FX Restrictions On Milk, Dairy Products Import To Crash Prices by sevo(m): 3:09pm On Mar 20
Nbote:


Some of you only have mucus in your head instead of brain matter. Seriously there should be immunisation against foolishness at childbirth so that some of you don't grow into nuisances.

The price of milk and dairy products is one of the reasons why bakers are crying over cost of production

Prices of 25kg of milk is now over 150,000 because only a few companies were given forex at official rates to import them.

one cold beer for you bros...sense too full your head...

1 Like

Re: CBN Lifts FX Restrictions On Milk, Dairy Products Import To Crash Prices by Seequadry(m): 3:10pm On Mar 20
RenaissanceGuy:
What about rice so that our greedy rice farmers can bite their fingers in regret.


The same importers of rice have already invested so much in rice farming.... They won't risk leaving there local investment to go and bring in imported ones

1 Like

Re: CBN Lifts FX Restrictions On Milk, Dairy Products Import To Crash Prices by mikeapollo: 3:10pm On Mar 20
Nbote:
Simple... We have been calling for this for months now. The uselessness of so many policies of the last govt cannot be over emphasised

This current government did same thing; they implemented the policy
Re: CBN Lifts FX Restrictions On Milk, Dairy Products Import To Crash Prices by Kennitrust(m): 3:11pm On Mar 20
The last time they lifted on rice, and other items... The price of those things makes no difference.


Audio government!
Re: CBN Lifts FX Restrictions On Milk, Dairy Products Import To Crash Prices by Paraman: 3:12pm On Mar 20
Taich:
Can someone explain to me how this will lead to the crash in price of diary products? Lifting ban by CBN means that diary importers can approach the bank for FX, banks will sale FX to importer at bank/black market rate. If importers have been importing since 2020 using parallel market when it would have been cheaper using banks why will price crash now the the bank and parallel rates are same? I will love to be schooled. Thanks in advance.

There are very few people/companies who had access to forex to import milk and other diary products while the rest had to go and get dollars at the black market but right now, everybody will have access to get dollars at the official rate.

Price can fall because of competition
Re: CBN Lifts FX Restrictions On Milk, Dairy Products Import To Crash Prices by eebraa(m): 3:14pm On Mar 20
How will importation crash the price with the current exchange rate of dollar?
Re: CBN Lifts FX Restrictions On Milk, Dairy Products Import To Crash Prices by Inspirer1: 3:15pm On Mar 20
Zwooks:
Hypocrites. Do the same to cement
And also lift restrictions on importation of Rice via land borders
Re: CBN Lifts FX Restrictions On Milk, Dairy Products Import To Crash Prices by axglide(m): 3:15pm On Mar 20
Nbote:


Some of you only have mucus in your head instead of brain matter. Seriously there should be immunisation against foolishness at childbirth so that some of you don't grow into nuisances.

The price of milk and dairy products is one of the reasons why bakers are crying over cost of production

Prices of 25kg of milk is now over 150,000 because only a few companies were given forex at official rates to import them.
A Living Soul and being; created in the Image of God is whom you’re abusing and saying has mucus in his/her head instead of brain matter?
God have mercy
Re: CBN Lifts FX Restrictions On Milk, Dairy Products Import To Crash Prices by billyG(m): 3:17pm On Mar 20
What have we gain all those years of ban ,no single diary company spring up in nigeria.even substitute for milk is as expensive as milk.
Re: CBN Lifts FX Restrictions On Milk, Dairy Products Import To Crash Prices by Winning123: 3:18pm On Mar 20
SensualMan:
With Ebi n pawa on the rise, when was the last time that section of the country had milk nor diary products?
The great Egyptian famine is coming, your screaming Ebi n pawa ooo will be a small thing.

Na that hunger go kill you and not Nigeria and her citizens

1 Like 1 Share

Re: CBN Lifts FX Restrictions On Milk, Dairy Products Import To Crash Prices by mipeesoft(m): 3:19pm On Mar 20
Nbote:


Some of you reason like you only have mucus in your head instead of brain matter. Seriously there should be immunisation against foolishness at childbirth so that some of you don't grow into nuisances.

The price of milk and dairy products is one of the reasons why bakers are crying over cost of production

Prices of 25kg of milk is now over 150,000 because only a few companies were given forex at official rates to import them.
Re: CBN Lifts FX Restrictions On Milk, Dairy Products Import To Crash Prices by mipeesoft(m): 3:20pm On Mar 20
grin
Nbote:


Some of you reason like you only have mucus in your head instead of brain matter. Seriously there should be immunisation against foolishness at childbirth so that some of you don't grow into nuisances.

The price of milk and dairy products is one of the reasons why bakers are crying over cost of production

Prices of 25kg of milk is now over 150,000 because only a few companies were given forex at official rates to import them.
Re: CBN Lifts FX Restrictions On Milk, Dairy Products Import To Crash Prices by zionstaar75: 3:21pm On Mar 20
Nbote:
Simple... We have been calling for this for months now. The uselessness of so many policies of the last govt cannot be over emphasised
it was Buhari that finished Nigerian economy

(1) (2) (3) (4) (5) (Reply)

How can I start Cosmetics Business In Nigeria (small Scale Business)? / Nigerian Startups That Raised Above $100 Million In 2021 / Youth Farmers Launch World Press Conference Against Aliko Dangote And Company

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 50
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.