₦airaland Forum

Harrykn:
Speak for yourself Bîgbrother. You’re not part of his family and not his boss at work too.
This new development Don favor some people big time. I don’t even know salary means lol because I do daily jobs

I know your type. A regular SM influencer looking to corruption the real narative about what we going through.

FacilitatorLekk:
In UK and America food and transportation is highly subsidized, government also give out social security payments. If you don't know, learn, most nations with resources give their people subsidies, it is evil that a nation so blessed can't allow their citizenry enjoy a bit of the wealth. Am not in APC or PDP, am referring to the new governors and federal government to do the needful. If things are too expensive people can't demand and buy products and services, this is bad for economic growth. Am talking economics here, not politics.

Thank you. All nations telling us to remove remove and remove via IMF andnWorld Bank are subsidizing one thing or another to make life easier and give themselves an edge in the international market.

They sure do.

grandstar:
I have a massive dislike for protectionism. I am a full time supporter of free markets and open borders. Import duty should never be more than 20% on any product.

The reason why you export is to have money to pay for imports. High protectionist walls simply prevent Nigerians to enjoy the benefits of international trade.

That imports do no good for you is simply untrue. It creates millions of jobs. The Tokunbo car industry alone probably provides jobs and livelihoods for over a million people. Wheat importation does the same when you think of how many industries from bakeries to puff sellers benefit from the flour made from. The same with milk and so. What protectionism does is simply to destroy an efficient supply chain thereby adversely affecting your economy.

Also, commercial trade in finished goods such as cloths, garments, computers and so forth provides either livelihoods for millions or are essential in running businesses.

The US discovered that for every 1 cent reduction in import duty, the government collected 3 cents in taxes from the economic activity the 1 cent reduction cost.

The Economist pointed out that "Protectionism has failed to industrialize the Nigerian economy." Despite this, it is the country's go to choice for industrialization.

Imports aren't the nation's problem. It is that the country fails to export. The only way to encourage industrialization is to reduce commercial lending rates below 10%. High commercial loans do far greater harm to the real sector of the economy than poor infrastructure.

PS

Do you know you can import frozen chicken for 350/kg. Imagine if the landing cost in Nigeria is 500 including all clearing in Lagos. The importer could decide to sell it for 900/kg. The wholesaler who buys it may sell for 1,100/kg. The retailer who buys may resell for 1,300/kg. These guys don't make much profit. They sell based on turnover.

This is much cheaper than the 2,400/kg for frozen chicken I bought it for yesterday. (Sorry to add, OBJ banned the import of all poultry products into the country)

Import is less desirable for a strong economy. There is something called balance of trade. It is about being productive enough to cancel out inflow of goods(outflow of money value) with out flow of good(inflow of money value). What you are advocating for is lost of local jobs to more competitive foreigners. Since we have destroyed all out competitive edges like subsidy, cheap power, security and more for interregional politics, commonsense dictates some level of protectionism be adopted to protect local production and by extension jobs, a key aspect of any vibrant or hopeful economy.
Maybe you do not realize import connotes loss in money value (weakening of the Naira) as well as job loss among other things. That's why we cannot turn a blind eye to issues like bandits extorting productive farmers and driving up local production cost. There are agberos too in the south. All feeding fat but not contributing meaningfully to the system thereby killing local production further.

HelinuesJobles:
The 30k APC Money will favor me and my family

Helinues

Jokes aside, the only way this nonsense can favour you and your family is by working hard to earn from things that have gone up in value. Food is number one.

Stagnant earning in the face of rising cost of living is of same effect everywhere. It chokes people materially.

Aborted and not failed coup.

Lol...the talk of private school being glorified secondary schools should subside naturally.

Non-glorified secondary school and systemic corruption.

Because that's where Intl folks can go to without being made the blackboard during lessons.

That's $100.

Lol...double assault may cancel out one another or increase the urgego sit at home.

This should be replicated in north and Lagos too to show impartiality.

Northern problem is national problem but southern problem is south headache.

People are hungry and being kidnapped on the highways but aesthetically clean bus stops is what they spending on. How much was it done for?

Okay o.

If snakes can swallow money for arms procurement and sting the target of the ammunions in the arms, that's a balanced form of corruption. Glory to Naija.

Monkey im no fine but im mama like am.

GEJ enjoyed unwavering brotherly support despite his flaws and room for improvements. Buhari too got four more years to destroy. Tinubu too is enjoying similar patronage.

Anyone who demands good governance is allocated a village in Abia and Anambra same time.

Putin and his incompetent clique of yesmen are just making laugh here.
Your only problem in life is too much territory yet you are looking for more. Now he will likely lost some.

He is on Nairaland.

Anti God people looking for alternatives before banning what God created for food to be received freely.
With all their gun violence challenges, it is chicken they want to grow in laboratories.

We are just lazy conspiracy theorists who can blame even God and Satan at same time.

Let them conclude the deal for cheap fertilizer to Africans on time o. We need that thing badly. At least if the make protein rich wheat too expensive, they should gibe us fertiler to plant alternatives.

The guy who made bread and garri expensive about to be dethroned? A welcome news for hungrymen and women around the globe.

Who needs and is now welcoming liberators between Russia and Ukrainians?

Putin is such a clown right now. I hope when he liberates Rus ethnic group in Ukraine he will proceed to other eastern Europe countries to liberate more of them who fled his dictatorship

Instead of this beggarly attitude, give them irrestuble offers they cannot reject. Create cheap power source, build industrial estates around it and secure it from the societal vices that has held us back by putting heavy security there.
Naturally people will love to go back home.

Lol... The beginning of what exactly.

The tale of snakes swallowing money was more believable than this. So you knew who did it but allowed them go, that means you are the scrap scavenger or working with them.

helinues:


If it was N700 plus yesterday and it's N800 plus today, that's to show you how currency trading dey work. Btc gained like 10% increase in the last 1 week even though it has been negative for some months now.

So kini big deal?

When Amala and Gbegiri inspired ideas fail you try to generalize it as part of currency fluctuation process. It was suppose to converge between the two old rates, but the overdoing of fixed rate meant the very low old I&E window rate was holding back the black market from escalating and reaching its true value. Tinubu thinks accounting is economics. Accounting versus economics is like pounding fufu, a repetitive task, versus making assorted recipes with limited ingredients. Welcome to reality, BMC.

Something to calm the new sheriff's nerve and have breathing space to do business as usual.

Are we really ready for investors?

What's power like?
Security?
Ease of doing business?
Raw material?

I don't think so.

GoodGovernance:
I just wonder why people like you just write without knowledge.

Nigeria is now the largest producer of rice in Africa.

What comparative advantage are you then referring to?

we used to have one of the cheapest fuel too.