Perfectbeing:
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.

NwekereNdoki:


How do u intend to be aproducing nation without importing?

Or is it only agriculture that Nigeria will produce?

Ona dey sound like say una dey intelligent but na olodo u be.

KaluwisxPRO:


Kerosene and Diesel are not being subsidized, but are people buying them or not…? If there are people buying Kerosene without subsidy, then those who needs petrol can equally afford it without subsidy.


Giving none existing marketers usd at subsidized prices is just another form of enriching a few at the detriment of the whole country. Demand and supply of Petrol should be the only thing dictating how much it is sold, not govt fixing a price.


Those who wants to import from abroad should source for more USD themselves however they can if they cannot do with $1k monthly cap. Millions of Nigerians don’t even need up to $1k monthly to do their small scale imports.

Ventura1:
You mean by importing all those electronic goods in Alaba, arena and other markets will boost local production?
How is the current access to FX by these importers boosting local production now?

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.

Perfectbeing:
Export will never be able to counter import if importing things becomes too easy.

Let me ask you a question..

If you could produce a phone and you could also import to sell it for similar amount, which would you do? Consider the fact that you'd have to pay your workers and you'd also pay taxes and consider also the fact that you'd pay import duties.
Which would you do? Be honest with yourself..

God1000:
I believe in you sir, you will do wonderful things for our country

Peter Obi is a genius and phenomenon, he will make Nigeria an eldorado.

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.

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.

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.

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.

Perfectbeing:
I gave just an example.

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

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.

obyno82:


if you cannot be deveived why didn't your APC adopt your advice? again you just composed beautiful nonsense.

Perfectbeing:
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.

Perfectbeing:
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.

Perfectbeing:
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.

tctrills:

First wheat is not cassava. It has by far more economic value.

OsunOriginal:


And a lazy man who can't cultivate cassava won't cultivate wheat. the message is to cultivate, cultivate, cultivate... nobody stops you from cultivating wheat. Start cultivate something and stop going into yahoo yahoo, 419, drug trafficking in the name of trading or hustling.

Perfectbeing:
I gave just an example.

baretalk:

Now I see you people are dumb. I'd you are into car production you can get parts from all over and assemble here. You Ipobians heads are flat so your brain matter is not complete. My point is any nation will avoid importing things it can adequately produce or have, or things that are not really needed, of course if it's needed or important and we can't produce it we import. Your problems are half education, I will stop arguing with you people, seems you people are really dumb, the other Ipobian the last time we were debating dey show me bank receipts

Peter can't win, he is dumb. Of course we will allow car components because it pays us to assemble cars here rather than importing the entire cars, please stop arguing like kids, think before you argue, and stop making me repeat myself. Import restrictions are important on stuff we can produce and have the ability to produce, and on things we don't need, to reduce capital flight and plunging of our currency. Seems you people don't know the meaning of restrictions, restrictions means limiting. We need to limit what we import, and import those things we have no comparative advantage producing, or things we need that we don't have, and avoid importing basic things we can produce, like rice, basic food stuffs and other stuff we can adequately produce. Luxury cars etc, and goods, should have a high import tax rate on them, this is also an import control or restriction measure.

udeh3:


The highest is been an accountant in Exon Mobil. Not even the chief accountant. He earns below $3,000 USD monthly. The question is, how did BAT made his wealth? And you're comparing him with Obi was the MD and the CEO of two banks?

I don't understand, you want to compare Obi's CV with that of BAT..? Please, I challenge you to compare

Your best fact always result to insult. All I just need to do is, put you up for a challenge. Obi is a Havard and Oxford graduate. You can also verify

Please, I'm putting you up for a challenge. If you really understand your candidate, let's do it here

EdwardRandy:

You must be truly brainless to think a state governor can make a policy that will influence the country's foreign exchange.

Freestainworld:
How can a sensible man not love or vote this man.