MT:


Allow it in and destroy the naira. All these arm chair economists tire me.

Why don't you make your own country's local rice be a foreign rice in another country, and earn USD through it?

We import cars though we have some car assembling plants? Why, because we know we cannot produce enough cars to go round and at a cheaper rate than imported cars. Do I need to apply to Federal Government through the CBN for forex to purchase my car from US? No, I source for my dollars through a willing seller who buys my naira and credits my account with US dollars and I in turn credit the account of the seller in US.
It's simple logic in allowing foreign rice to come in, our farmers cannot produce enough to meet the demand for rice at a cheaper amount, let's not keep deciving ourselves. Government only looses when it has to sell its hard earned forex to rice importers, we are saying don't give the importers any dollar, let them source it at the open market and import. I bet u, it will still be cheaper than Local Nigerian rice which is expensive due to demand and absence of any competition from imported rice.

adecz:



Who tell you say Tinubu
na Muslim❗️❗️😁😁

You call an adult who can't recite the
Tasmiyyah ( تَسْمِيَّة) a Muslim❓❓

You are even dumber than the
average, half educated Northern
Muslim.😁😁😁

We don play una like kalangu❗️❗️👏👏

Shut up and enjoy your Islamic state , we love Tinubu and Muslim Muslim squad

priceactionx:

If they do that, expect exchange rates to reach over 1000 naira. It will nose dive.
Importer will use our dollars to import rice to seme border and smuggle it in. Who loose?. Fg should as a matter of fact declare state of emergency on agriculture. So that even if they will open border, it will not be attractive much to the citizens. May be by forcing the producers to site their mega factories in nigeria if need be with incentives.
Though which ever way it goes, Nigeria is in for a long rough ride. They have looted all the money finish. Borrowed and looted them again for the generation unborn to be paying.
All of them from LP, PDP , APC participated in this mess we found our self.
Madam NOI has predicted the current situation long time ago during Jonathan. Unfortunately we easily forget the past in this country.

Werey!! has LP ruled Nigeria before? whey did you mention LP, LP kill you!!!

GoodGovernance:


Another silly question and narrative.

You want to compare Nigeria with USA that prints dollars used globally??

Foolish answer,

Open am quick oOoOO

Zombedients will come and cry now 🤣😂

Babzrockman:
Na every day den dey open this border niii.

Me self no understand again ooo 😆😆

tollyboy5:

For the past eight years how many rice have you grown?

Don't mind that guy. And he forgot that rice and bread are the staple foods in Nigeria that many cannot do without.

We need to be able to use our brains especially when they have not made it possible for 200m people to be able to have home grown rice coupled with security issues at farms.

A country like Cameroon can be approached and partnered with such that there is comparative advantage between both countries. They can be allowed to export their local rice to us and we can give them something in exchange so both African countries benefits.

In this 21st century, imports should not only be looked at that 8t is coming from abroad only.... Also, if that is a way to build brotherliness with Benin Republic, no problem for me.

Sometimes when u see this neighboring countries behaving harshly to Nigerians it is because of policies that our government made that has choked them and still choking them with the influx of Nigerians to their country.

Kuginzi:


https://www.vanguardngr.com/2023/06/fg-okays-re-opening-of-seme-border-for-vehicle-importation/amp/

How doors does this border have sef? i though two weeks ago they opened it, now is it another door of the same border they opened?

Why dem con first close am?
Why not first look into it and give us how the reason for opening it is more valid for our development?

Raskimonojendor:

Prices of cars will definitely fall as there will be more competition amongst sellers.

The only thing that will make price of imported cars in Nigeria to fall
1. If dollar falls against the naira &
2. If Nigeria Custom reduce the cost of clearing and duty

Thank you my presdo

jackcanfield:


Awon Importer Gang , how do you protect your farmers and local auto industries ... They just have to let customs know that there major function is not revenue generation. Continue floating and be importing like mad people.

What did the ban and border closure achieve?

Made took rice beyond minimum wage, tokunbo car prices doubled yet dollars rose to #740.

luizpippo:



What did the ban and border closure achieve?

Made took rice beyond minimum wage, tokunbo car prices doubled yet dollars rose to #740.

As if that didn't happen two weeks ago when the border is open it is 819 on Google sha

MT:


I think the problem we are having in Nigeria is the quality of education most people are exposed to. They do not understand the micro economics dynamics between exchange rate, export and import as well as inflation.

They always look for the easy way out which will ruin the country's economy. Nigeria govt needs to do a lot of enlightenment where they need to break things down clearly and concisely for people to understand what is going on.

When I read some comments here, my heart sinks. Nigeria cannot rely on importation and expect it to look like Dubai. Impossible!

A country without 24 hours electricity, no steel making company, no functional regime tied and you don't want such country to import?

Even if they have all that and companies are functioning, they will still import some things

pedel:
You think importing food for consumption is good for our economy?
A country of over 200,000,000 people importing rice despite having land and manpower to grow our own food.
Spending forex to import what we can grow is one of the reasons our currency is devalued.

Getat

Has the one you have been producing for the past 8 year's met up with the average Nigerian?

Una go just de talk waaa

FreedomArmy:
and then you closed it and wicked people increased the price of local tasteless rice that is full of sand. I believe in free market economy. Banning importation is not the way to encourage local production. Improving the quality of local production to be at par or above that of foreign products is the way forward

Better still, as a believer in free markets, let the country focus on producing things it has comparative advantage in. The market is always best at picking them.

tollyboy5:

For the past eight years how many rice have you grown?

no mind the qworo economists... Most of the Nigeria rice we see and eat thinking it's locally grown it's still from neighbouring countries the difference is that they are being smuggled and the leather changed before pushing it to Nigeria market

Raskimonojendor:

People in developed countries mostly rely on used cars too. New cars are expensive everywhere in the world.

Aslong as the vehicles being imported via the borders are made to pay the Nigerian custom duties and taxes, nothing wrong with importing them from a neighbouring country.

Prices of cars will definitely fall as there will be more competition amongst sellers.

The prices should crash fast, please. Audi, Alpha Romeo and Maserati, where art thou?

adecz:



Buhari closed southern borders
but kept northern borders open,
yet southern leaders couldn't say
anything...

Power101

tollyboy5:

For the past eight years how many rice have you grown?

enough to at least meet our national required output. My friend is a rice farmer.

Fake news. Read the content

jackcanfield:

As if that didn't happen two weeks ago when the border is open it is 819 on Google sha

You mean bag of rice was less than minimum wage 3 weeks ago?

Or tokunbo cars only doubled 2 weeks ago?

Did you get dollars at 700 as at on 1st?

GoodGovernance:
Many Nigerians are clowns.

They complain about the low value of the Naira,but celebrate importation policies that would further devalue the Naira.

How does opening seme border for car importation,improves the value of the Naira or encourage local entrepreneurs like Innoson?

You want to eat your cake and still have it?

A curse?

How has the closing of the border helped the naira after eight years?

FreedomArmy:
and then you closed it and wicked people increased the price of local tasteless rice that is full of sand. I believe in free market economy. Banning importation is not the way to encourage local production. Improving the quality of local production to be at par or above that of foreign products is the way forward

How do you improve the quality if there is no money coming in from patronage? They need to protect local rice producers from competition at the outset so they can grow.

pedel:
You think importing food for consumption is good for our economy?
A country of over 200,000,000 people importing rice despite having land and manpower to grow our own food.
Spending forex to import what we can grow is one of the reasons our currency is devalued.

THEN WHAT HAD BEEN THE IMPACT OF THE CLOSURE FOR OVER 8 YRS. ARE WE ABLE TO PRODUCE SAME COMMODITIES, RICE AND OTHERS IN 8 YRS? THE PRICES JACK SERIOUSLY UP.

EVEN OUR LOCAL RICE TOO IS WAY TOO EXPENSIVE. MAKE THEM FREE RICE ABEG.

Reflect7:


How do you improve the quality if there is no money coming in from patronage? They need to protect local rice producers from competition at the outset so they can grow.

so I have to pay through my nose so that greedy farmers can have more money. Why should I pay higher price for a low quality product just so that I can encourage local production?

You are the one that is poorly educated,lol no serious economist will even take you seriously, economics 101 is that you produce what you have comparative advantage in and to develop your ensure your local population have access to essential things like foods at cheap rate so as to have enough disposable income,at present food inflation is over the roof poor nigerians spend 80% of their savings on food and transports, sensible educated Nigerians will instead ask their government to encourage cheap food importation and infrastructure to ensure cheap transportation, provide cheap building materials (which includes removing ban cheap cement importation) and also focus on commercial agricultural products we can produce cheaply and export,we can't he self sufficient in everything,you bring up devaluation but that's just the nature of nigerian economy we are not that productive south Korea has a devalued currency it didn't stop them from developing 5000 south Korean won is roughly $4,also your logic will make more sense if you asked the government to ban foreign cars,planes, health care etc in the name of supporting local production,kindly expand your knowledge on economics and stop promoting protectionism that does not help grow the country but cronies,also UAE imports 85% of it's food and yet didn't stop dubia from being Dubai, Singapore imports 90% of it's food yet still more developed than Nigeria will ever be

MT:


I think the problem we are having in Nigeria is the quality of education most people are exposed to. They do not understand the micro economics dynamics between exchange rate, export and import as well as inflation.

They always look for the easy way out which will ruin the country's economy. Nigeria govt needs to do a lot of enlightenment where they need to break things down clearly and concisely for people to understand what is going on.

When I read some comments here, my heart sinks. Nigeria cannot rely on importation and expect it to look like Dubai. Impossible!

pedel:
You think importing food for consumption is good for our economy?
A country of over 200,000,000 people importing rice despite having land and manpower to grow our own food.
Spending forex to import what we can grow is one of the reasons our currency is devalued.

Hope you will as well leave your white collar job and join rice farming?

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.

Bro leave that guy,we import refined crude,vehicles but importing cheap food to reduce hunger is what will destroy the naira people will always support nonsense by speaking lots of English

eldoradoxx:
We import cars though we have some car assembling plants? Why, because we know we cannot produce enough cars to go round and at a cheaper rate than imported cars. Do I need to apply to Federal Government through the CBN for forex to purchase my car from US? No, I source for my dollars through a willing seller who buys my naira and credits my account with US dollars and I in turn credit the account of the seller in US.
It's simple logic in allowing foreign rice to come in, our farmers cannot produce enough to meet the demand for rice at a cheaper amount, let's not keep deciving ourselves. Government only looses when it has to sell its hard earned forex to rice importers, we are saying don't give the importers any dollar, let them source it at the open market and import. I bet u, it will still be cheaper than Local Nigerian rice which is expensive due to demand and absence of any competition from imported rice.