₦airaland Forum

[quote author=tctrills post=117350234][/quote]You actually make zero sense. Currently Nigeria and Ghana imports steel but there's few employment in the manufacturing sector of both countries. Then how come are you still saying when Nigeria's steel industry starts working Ghana will still have more employment in the steel industry?

babzo:
But within 24 hours that killer will be dead or arrested. And if arrested, will be jailed or sentenced to death within a year.

As long as there is a devil, there will be evil in every country.

What civilized countries do is is combat crime and punish evil doers.

When last did you hear of kidnap for Ransome in America? It's been over 40 years! You know why?.Kidnapping for ransom is such a stupid crime and so easy to solve; it has been eradicated.

It's so easy, even a year 1 recruit can solve a kidnapping case. How do you kidnap people for money and get away with it?
They make phone calls, house the victims, buy food for them, then collect naira printed by the YEARS! Are they ghosts?

How come was a Nigerian American able to rob America 68 times before he was caught?

Check the number of unsolved cases of missing people (which included kidnappings) in America.
This is a country with CCTV everywhere and a security budget of more than the other top 5 countries combined.

Tochi3:
How can Nigeria be a failed State... when you can afford to live lavishly in France, London, and having bullion vans stolen from tax payers money and sweat..

Thief'nubu are your chilldren and grandchildren been kidnapped, are they out of school... Do they Lack medical attention like the teeming masses of Nigeria...Do your children and grandchildren go to bed hungry like the children of the down trodden...

How can Nigeria be a failed State to thief'nubu...when his children are sittimg on the destinies of their supporters cum urchins..

Who owns and sniff's the revenue from Alpha beta??

Are you even interested to know if Nigeria is a failed state... when you can check in and check out. in private jets

I don't blame Thief'nubu because he can package odourless fufu and share to his miscreants who come online to hail and praise the Emilokan .

Which school did the Children of your presidential candidate attend?

Didn't he also did a surgery in UK too?

Try not to throw stones when you live in a glass house.

[quote author=tctrills post=117348461][/quote]Nigerians consume more rice than ever before. Talk about unaffordable.

Millions of farmers became millionaires. Go and verify.

Fuel subsidy will be completely removed and heaven and earth will not meet.

Yes, steel will be more cost in Nigeria than Ghana, but Nigeria will have more people employed in her steel industry than Ghana.
In Ghana, only the people importing and selling steal will be making money. Most of the citizen would be unemployed.


Do you know that America's oil refinery refines oil more expensive that other places? This is because America's refinery were built before better efficient and cheaper way of refining oil was invented. Today, is America not still refining oil for other countries?

Ghana might enjoy cheaper steel than Nigeria but in the long run, it wouldn't help them.
Same way Nigeria's fuel is the cheapest in West Africa but it's not helping us in anyway.
Nigerians might be buying steel more expensive than Ghana, but many Nigerians would be employed and they'd have money to buy steel products like cars unlike Ghana where things will be cheap, but they still won't have the money to buy it.

tctrills:
No, china wasted many years locking her economy and they achieved nothing. With a locked economy, china was mostly agrarian. There was very little industry. 95% of the industries in china are under 30 years old. Please can you mention the products china was manufacturing 30 years ago? China had less industry than Taiwan and Korea before they opened up their economy. All the good things happened when they opened their economy. On the other hand, tens of millions died of hunger with their closed economy. Google it, please.

Guy, it was during those 30 years that Chinese were dying of hunger that China was revamping her economy. I have studied the Chinese economy so don't tell me what I know.

tctrills:
I understand that but my point is to look at the economy holistically. Cassava and corn cannot be our economy.

It can. Look at how much Ukraine and Russia make from selling wheat. $5.1 billion in one year. That's about 20% of our $24 billion national budget.

Lovenorth:
I am now a slowpoke because I don't support Tinubu?

No. You're a slowpoke cos you're criticizing a goodnews.

Eriokanmi:
Import restrictions, now you're talking. Obi emphasized this and a good reason his economic policy will fly, especially with the single forex window.

Single forex will not make any difference.
The only difference that will happen is that instead of both the official and market price to be dying together, only the single (official) price would be dying. And it would even be faster than it is now.

Nigeria introduced two (official and black market) dollar price in the 80s. And before then Naira was still falling.

Ventura1:
But wouldn't mind if people around you are jobless? Now imagine if we have the option of getting all our needs via the method you explained, what do you think will happen?

Cost of producing garri is expensive in Nigeria, but can be imported from China. You forget that in the cause of producing locally, about 10 people around you are engaged. But you stop production because you can get it elsewhere cheaper.

Why do you think many textile industry in Nigeria closes factory? We can get it cheaper from China, and Okrika can be imported..........but thousands of direct and indirect job are lost.

Bro, I guessed you read just this my comment before quoting me. You should read my previous comment and you'd see where I'm coming from.

I'm actually on your side. I asked that question because that guy is supporting Peter Obama policy. I'm trying to tell him the harm it will cause to the economy

tctrills:
Yes anyone could make money from anything. People make billions from transport, from tomatoes, from real estate, from snails, from restaurants, from hospitality.
So just because a woman made 5 billion does not mean that our entire economy must go that way.

I gave just an example.

tctrills:
China was very very poor because they locked their economy. The moment they opened their economy to the world, they took over 600 million people out of poverty. Please do your research.
Japan also locked their economy in the nineteenth century we know the result.
I am not blindly supporting Obi. I have always advocated a free market economy. I have even debated it here on Nairaland in the past.

You got it all wrong bro. China locked her economy and the Chinese Government started investing in local production. They reversed engineered the products of the Europeans. The Government forced people to manufacture things in China. This whole process took 30 years. 30 years of suffering till they eventually got it right. It was after they got it right that China decided to open back their economy to the world. By then they've gotten a cheaper way to make European products and the world was ready for them.
So yes, China was poor when her economy was locked. But it was during those poor times they revamped her economy and became a power house.
Same happened to Japan.

So my bro, you didn't really do your research very well. The 600 million people that came after China opened her economy were the ones the Chinese Government forced to produce locally till they got it right. China suffered before they became where they are. I'm sure most of them insulted the President the way we insulted Buhari when he banned rice. But those 600 million people that went out of poverty after the economy was open will thank the Government for what they did. Same with the rice farmers that are now millionaires.

The current Nigeria doesn't need to open import restrictions. It will cause more harm than any good.

Peter Obi was wrong there whether you like it or not.

tctrills:
Good you brought up rice. When Buhari ban the import of rice, the price of rice almost tripled. It only brought suffering to everyone.
Since the time of Jonathan till now, the federal and state governments have invested more into rice than any other crop. It has only made Nigerians poorer and weakened out economy.
We ban the importation of cement and now the Nigerian people pay a much higher price for cement than most countries in Africa while only few benefit. When would we learn.

Rice was taking a toll on Nigeria import. Nigeria could not afford it hence Buhari banned it's importation.
Yes, the price of rice increased. But Nigerian rice farmers became millionaires overnight.
Increase in price of rice is a small price to pay for Nigeria being self sufficient in rice production. Increase in price of rice is a small price to pay for Nigeria becoming millionaires from rice farming.

Let me go further.
When fuel subsidy is completely removed (which Peter Obi supports), price of fuel will become over N400. But it would help the economy in the long run. Currently Nigeria budget on fuel subsidy is more than education and infrastructures combined.
If subsidy is being put in those areas, would the increase in fuel price not be a small price to pay for quality education and good infrastructures? Would Would the fact that the refineries (both public and private) are making profits and paying their workers good salaries not be a good thing? Would you keep dwelling on the fact that fuel is selling for N450 instead of accepting the fact that roads and education is now better and that more people are employed?

Let me also go further.
The Ajaokuta Steel company, when completed would produce more expensive steel than what we import (most Nigerians don't know this). This is due to the fact that the steel company employs an old model, more expensive ways of refining steel. Better, efficient and cheaper ways of refining steel are now in place. In essence imported steel would be more cheaper than the steel Ajaokuta will be producing.
Should that stop the Government from banning (or drastically increasing steel import duties) steel when the industry is completed and working?? Hell no!
When Ajaokuta steel company starts working, thousands of people will be employed both directly and indirectly. Manufacturing companies would start springing up like mushrooms. Engineering students would start working in these companies and they would get paid.
Yes, price of steel products will increase. But that's just a small part of the picture. The big picture would be that Nigeria produces steel and thousands of people would be employed.

Learn to look to the big picture of things if not you'll be a perpetual complainer till you die.

Lovenorth:
How is that got to do with solving the problems of the people of Nigeria, this government is truly a sadistic godforsaken government, and my only worry is that Tinubu said he would continue from where Buhari will stop if elected, that's why we need to work very hard to oust this terrorists infested administration

Christ in Heaven!! You guys are really cursed!! Damn!!

You guys insulted Nigeria when it was said her water ways was the most insecured. Fast forward to today, you guys are still complaining that Nigeria water ways haven't been attacked since last year..

The same way you guys will insult Nigeria when you hear Nigeria haven't had any attack from terrorists and bandits. You'll still foolish ask how that solve the problem of Nigeria.

Slowpoke

tctrills:
Do you know why the iphone is produced in China? All components of the iphone come in to China duty free.
The chips come in from south Korea and Taiwan, the precision equipment comes in from Germany. The design comes from the US.
The batteries run on Cobalt from Congo. All these come in duty free.

Those were the import goods needed to boost China's production which even Nigeria does today. When Buhari locked rice import, it didn't affect fertilisers, agricultural implements, viable seeds.

Peter Obi said he will remove all import restrictions. Meaning even rice, Cassandra, fertilizers, sugar etc that we're now producing will be affected.. Nigeria will become a dumping ground for everything.

tctrills:
It doesn't matter, we are number 1 in cassava in the world.

A woman makes over N5 billion yearly from cassava alone every year.

tctrills:
You use funny words, dumping ground. Actually China was literally the worlds dumping ground less than 8 years ago. Waste and refuse from Europe and America used to be exported to china.

But then, Nigeria always had import duties. How did it grow our industries. We currently have more failed industry than anywhere in Africa.
You don't need to go to China for examples we here in Nigeria have import duties and we see it has not grown our industries.

China locked her economy for 30 years. Today China is competing with America for World power.

Guy, don't try to justify what PO said. Deep down you know he floped with that statement.

babzo:
I am happy for you, happy for him and happy for the family.

But not happy for Nigeria. This is just unbelievable.

A country with over 1 million soldiers, policemen, paramilitary, government funded security men, billions of dollars spent on security every year, billions spent on CCTV, NIN, etc and all this keeps happening.

America spend over $750 billion on defense. Yet a 14 years old boy will carry gun, enter inside school and shoot over 21 persons.

America with CCTV, citizen database, millions of soldiers, policemen, FBI, CIA couldn't stop a Nigerian man for robbing after 68 times.

tctrills:
Not really, we have been producing Agbado and cassava for more than 100 years now and things keep getting worse.

We've not produced to the extent Tinubu envisioned.

tctrills:
Actually, China has some of the biggest free trade zones in the world. Most of their industries are in the free trade zones. Also, China has multiple free trade agreements with many nations. Infact China would love to have free trade agreements with every single country.

Did China became where they are today by opening up her borders as a dumping ground for the world?

Kasssandra:
And what is his superior economy plan?

Especially as he is a member of a party that has made a hash of the economy in the last 8 years?

Producing agbado and cassava is much more better than removing import restrictions.

Tomorrow when Dangote and other foreign investors will choose Lagos to invest in, some scallywags will say it's because of seaport and that Lagos has been capital for 200 years.

tctrills:
We need both. We can't do without both. The iPhone is not produced in the US.

IPhone is produced in China. Did China restricted their import before dem dey where dem dey now?

Eriokanmi:
I differ cos I'm an exporter. You can only be in our shoes to understand this man's policies. Otherwise, it would just be like someone talking jargon to you.

You can only understand him because there are restrictions to import. Without the restriction you'd only be an importer. You'd dump your export trade.

tctrills:
You are so wrong. Let me reverse your question. If you are Apple and you want to set up an Iphone factory in Africa. Would you prefer a country we zero import duties, where you can bring in parts, tools, machinery and other needful things without cost. Or would you choose a country where your production cost would be increased by import duties?

Answer my question first. As a Nigerian would you produce or you'd import?

dyera:
The double exchange rate that makes life difficult for importers of manufactured goods also makes life difficult for importers of fertilizers and raw materials.

It doesn't matter if there's only one exchange rate or 10.. So long as our forex earning isn't increased, the exchange rate will still increase.
Before the double exchange rate in the 80s, Naira was still going down. The double exchange rate only made the official rate reduction slower.

If Obi singularize the exchange rate while increasing import, the effect would be so catastrophic. The singular exchange rate will do die that people would start doing local trade with dollars because naira will become valueless.

Eriokanmi:
Did you read the export side of the story? Read again

The export will be dead or non existent because whatever it is you want to produce for export, others will import it into Nigeria.

You just have to admit, Peter Obi goofed there big time.

Pakute:
Solve the lingering insecurity and watch Nigeria become the biggest Agriculture hub in Africa. If our farmers could be safe in farms, best believe, we can feed west Africa sufficiently.
But the dumb idea of Obi removing import restrictions is the quickest route to killing our economy, ironically, he was talking about the policy of moving from consumption to production. He doesn't come off as someone who knows his economics, obviously a gibberish a container economist would say. And if you sure sound like one of such pepper sellers who easily gets carried away by bogus & disastrous theories.

If after solving insecurity and Farmers still don't see how profitable farming is, people still won't farm.
Today, even thought Nigeria is more insecure than ever, rice production has increased so much that Nigeria is now the biggest producer of rice in Africa.

Why is that? Because rice farming is now more lucrative despite the insecurity and high rice price.

Barryseal:
What is the demand for Nigerian rice outside this shores? How much foreign exchange have we gotten for this rice we are number 1 now according to you? Will USA import low quality rice from Nigeria at a higher cost than the premium product they get from Brazil, India or Thailand at cheaper rate?

Do you know those millionaire rice farmers could have better served our economy if they were encouraged to produce ground nut, maize, cocoa, palm fruits, cassava, millet, instead of rice.

We have a competitive edge in these products than rice. Instead we crippled our purchasing power to lust after rice just for bragging rights.
Are we not better served importing rice and exporting 6 other cash crops to shore up our trade deficit?
I'm tired of black people and their reasoning to be honest.

Don't be slow..
Rice is the most consumed staple food in Nigeria.
With importation, we were enriching Brazil, Thailand, India and Chinese farmers while making ours poorer.
Even though we don't export it out, it still helped our economy in more than one ways. It enriched our local farmers and almost money needed to import rice is now being used for other things.

And who told you miller, cassava, groundnut, maize cocoa etc weren't improved on.

Check the top 10 agro export from Nigeria.

You should be tired of yourself too.. Black monkey.

dyera:
The double exchange rate that makes life difficult for importers of manufactured goods also makes life difficult for importers of fertilizers and raw materials.

Local production of fertiliser increased thanks to Dangote and Bua and other small scale producers.
Dangote and Bua reduced unemployment by employing thousands of Nigerians in his fertiliser plants. That is how to grow an economy.

Removing import restriction will end Nigeria local production in at most two years.

nedekid:
So how come Abiola was not a sucessful businessesman as a Glasgow trained accountant, but rather a government contractor that got his billions through sharp deals with his military collaborator paddies. Then from the billions set up so called businesses that were sustained through his cash inputs from his regular paddy paddy deals.
Show any one Abiola owned business that survived after his lack of government patronage and his later death. Abi how come his family claims he was owed billions by the state? No be contract?
There was nothing superbly smart about Abiola as a businessman other than he had good interpersonal skills, an extrovert that mixed with the powers that be and took good advantage of that to get sweet deals.
Abeg, use others to explain financial skills not Abiola. (God bless his soul).
https://www.washingtonpost.com/archive/politics/1980/08/17/itt-allegedly-spent-millions-to-obtain-contracts-in-nigeria/e44ffce6-2b75-4fd8-bd7a-c1005cb15713/

Don't be foolish. Innocent Chukwuma is a big businessman whose major customers is the federal and State Government. Should be now say he's not a smart businessman then?

Kasssandra:
And you know what that means...higher prices for most imports...including consumer electronics, tokumbo cars, and a host of other things.

Even higher prices for many things produced at home because they rely on imported componets and machinery to be produced.

At the end, you will complain and weep. Inflation will rise.



(No, I don't support Tinubu either, and the fact that he has no plan out is even more proof not to vote APC. )

Even if Tinubu brings out a more superior economic plan (of which producing agbado and cassava is one of them) you'd still not support him.

udeh3:
Yet, during his time as a governor, he Peter Obi patronized Nigerian made products. He was the first to buy 1000 units of Innoson motors. Go and verify. The government of today, how many of the indigenous car production company are they patronizing?

You guys always should go and verify, go and verify but when it comes to verifying, you guys are empty.

Who told you the the Government of today don't patronise indigenous car companies?

Even Innocent Chukwuma himself said FG under Buhari is his biggest Customer. Almost all new FRSC cars are Innoson. Go to the airport, virtually all new FAAN and NAMA cars are Innoson motors. Go and verify.

You guys will jus open your mouth waaaa..