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Nairaland Forum / Nairaland / General / Business / Weaker Naira Drives Up Foreign Demand For Local Products (19218 Views)
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Weaker Naira Drives Up Foreign Demand For Local Products by deji17: 4:46pm On Oct 18, 2023 |
The recent naira devaluation, which is dampening the production capacity of many businesses in the manufacturing value chain, has however driven up foreign demand for some products. https://businessday.ng/news/article/weaker-naira-drives-up-foreign-demand-for-local-products/?amp=1 9 Likes 3 Shares
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Re: Weaker Naira Drives Up Foreign Demand For Local Products by Hoelujohn: 4:47pm On Oct 18, 2023 |
Original werrey 29 Likes 3 Shares |
Re: Weaker Naira Drives Up Foreign Demand For Local Products by forgiveness: 4:51pm On Oct 18, 2023 |
I actually agree. Naira had more value than won but Korean economy is bigger than Nigeria thus making them more wealthy and richer than Nigeria because they export more products. 255 Likes 7 Shares |
Re: Weaker Naira Drives Up Foreign Demand For Local Products by EyeCumInPiece: 4:51pm On Oct 18, 2023 |
Nonsense. Just like celebrating hardship from subsidy removal for reducing traffic on the road, or for reducing noise of generator. The criminal druggie and GCFR (Grand Certificate Forger of the Republic) just carry us dey go where we no know. 113 Likes 6 Shares |
Re: Weaker Naira Drives Up Foreign Demand For Local Products by wittywriter: 4:52pm On Oct 18, 2023 |
Interesting Wittyness |
Re: Weaker Naira Drives Up Foreign Demand For Local Products by hifani: 4:52pm On Oct 18, 2023 |
Hnnnn |
Re: Weaker Naira Drives Up Foreign Demand For Local Products by socialmediaman: 4:53pm On Oct 18, 2023 |
Re: Weaker Naira Drives Up Foreign Demand For Local Products by kettykin: 4:58pm On Oct 18, 2023 |
Jokers 1 Like |
Re: Weaker Naira Drives Up Foreign Demand For Local Products by CodeTemplar: 5:11pm On Oct 18, 2023 |
That's on paper economics or textbook ideas. Is the conducive environment and conditions there? High power cost, insecurity, bureaucratic bottlenecks, corruption. 42 Likes 2 Shares |
Re: Weaker Naira Drives Up Foreign Demand For Local Products by SalamRushdie: 5:13pm On Oct 18, 2023 |
Which local product? APC and tomfoolery 29 Likes 3 Shares |
Re: Weaker Naira Drives Up Foreign Demand For Local Products by 9jatriot(m): 5:17pm On Oct 18, 2023 |
China will give an arm and a leg to have this kind of exchange rate but America non gree. Nigerians will always say with pride we are an export country. Go to Alibaba.com and see very young Chinesse, probably less than 22 on the internet trying to sell products to international buyers, all we sabi na spend time on social media and form sophistacted because we sabi speak small English 33 Likes 6 Shares |
Re: Weaker Naira Drives Up Foreign Demand For Local Products by Righthussle: 6:44pm On Oct 18, 2023 |
Una for don talk since na make we pray make $1 =#100k 8 Likes |
Re: Weaker Naira Drives Up Foreign Demand For Local Products by inoki247: 6:54pm On Oct 18, 2023 |
Lol remind me again wetin we dey produce..... Which local produce we dey sell 25 Likes 4 Shares |
Re: Weaker Naira Drives Up Foreign Demand For Local Products by Usmanovic95(m): 6:58pm On Oct 18, 2023 |
9jatriot: Bros advertise the product you are producing let us the nationals patronize you first. 30 Likes 4 Shares |
Re: Weaker Naira Drives Up Foreign Demand For Local Products by ehikwe22: 8:32pm On Oct 18, 2023 |
9jatriot: Something is wrong with your brain 22 Likes 2 Shares |
Re: Weaker Naira Drives Up Foreign Demand For Local Products by 90dbest: 8:34pm On Oct 18, 2023 |
Usmanovic95:You dey mind that idiot .ask him to point out where the local products dey. Even the the few companies here are foldind up as a result of high cost of production in the country, may be he mistakes China products for local products. Those fools don't know that propoganda has a limit. 29 Likes 2 Shares |
Re: Weaker Naira Drives Up Foreign Demand For Local Products by Bebigiby1: 8:43pm On Oct 18, 2023 |
The economic mathematics been peddled by these analysts posted By BusinessDay regarding argument about local export benefiting from weak currency is a farce and unrealistic... There is no economic benefit of weak devalued naira as Nigeria is majorly an import driven economy.... The infrastructural deficit as regards high cost of reliable electricity, transportation et al will erode any competitive advantage if you produce locally in Nigeria.... The only solution is for naira currency to appreciate in value and this can be achieved if politicians stop looting our public funds, refine fuel locally (Government must build and operate at least one refinery) and reduce the cost of government by dissolving duplicate ministries, parastatals and pubic offices including reducing the number of senators, reps and ministers.... The current system of government is bloated and too expensive...... 15 Likes 1 Share |
Re: Weaker Naira Drives Up Foreign Demand For Local Products by Usmanovic95(m): 9:00pm On Oct 18, 2023 |
90dbest: Don't mind him, people like him always find a way to denigrate hardworking Nigerians like they are not hardworking enough. Established multinational companies sef couldn't survive Nigeria economic terrain,they relocated to neighbouring African countries with more favourable economic and government policies nonetheless a Small and medium scale enterprise, how will such business survive. In recent year, unfavorable government policies like the cash crunch issues under buhari and subsidy removal under this present administration has collapse a lot of burgeoning businesses and rendered alot of people bankrupt. 13 Likes |
Re: Weaker Naira Drives Up Foreign Demand For Local Products by kolawolemonsuru: 9:04pm On Oct 18, 2023 |
NIGERIAN YOUTHS ARE LAZY BUT HAVE THE STREGHTH TO MARCH FOR MOHBAD THAT ADD NO VALUE TO THEIR LIVES... WHY NOT USE THAT SAME STRENGTH TO MARCH FOR *NAIRA* JUSTICE FOR NAIRA... USELESS AGBADORIANS, USELESS OBIDIOTSS & ACTICULATHIEVES. EWU YOUTHS, ODE YOUTHS, ABOKI NAMA YOUTHS. 11 Likes 1 Share |
Re: Weaker Naira Drives Up Foreign Demand For Local Products by MrEverest(m): 9:23pm On Oct 18, 2023 |
Rubbish!!! 1 Like |
Re: Weaker Naira Drives Up Foreign Demand For Local Products by Dest8sman: 9:52pm On Oct 18, 2023 |
The Republic of Animal Farm. They are adept in chunning out statistics. 3 Likes |
Re: Weaker Naira Drives Up Foreign Demand For Local Products by FreeStuffsNG: 10:02pm On Oct 18, 2023 |
deji17:Shhh. Don't loud it. Lazy youths , cyberbullies and criminal defamers will have sense las las. Most companies are buying up warehouses upandan to increase their export capacity while the lazy youth, hate-filled bigot mob and unpatriotic elements are addicted to social media entertainment, abusing and cyberbullying everyone on the social media. Smh 12 Likes 2 Shares |
Re: Weaker Naira Drives Up Foreign Demand For Local Products by abhosts(m): 10:03pm On Oct 18, 2023 |
This does not apply to Nigeria because most of our exporters do not sell in Naira. The guy who exports cocoa would not reduce his dollar price because Naira is weaker. 2 Likes |
Re: Weaker Naira Drives Up Foreign Demand For Local Products by deji17: 10:17pm On Oct 18, 2023 |
FreeStuffsNG:I know right.. The message is not for the lazy, unproductive youths. It is for the serious and hard working youths. 3 Likes 1 Share |
Re: Weaker Naira Drives Up Foreign Demand For Local Products by Parydelegate: 4:53am On Oct 19, 2023 |
Hmm |
Re: Weaker Naira Drives Up Foreign Demand For Local Products by SachaBastien(m): 4:55am On Oct 19, 2023 |
Poor understanding of monetary valuation. |
Re: Weaker Naira Drives Up Foreign Demand For Local Products by nsiba: 4:56am On Oct 19, 2023 |
What a junk write up, somebody is exporting to Mali and he thinks he is helping the economy? We export fresh raw materials and we think we are doing great worse of all we are now down to CFA countries market zones Agbado president Agbado mentality 4 Likes |
Re: Weaker Naira Drives Up Foreign Demand For Local Products by adecz: 4:56am On Oct 19, 2023 |
We have been hearing this same economic storyline from government since the 80s. Today, which local product is Nigeria exporting❓ Because of corruption and incompetence of appointees, most items, esp agric products that Nigeria exports are rejected on the international market due to poor standards.🙁🙁☹️ 6 Likes |
Re: Weaker Naira Drives Up Foreign Demand For Local Products by Kobojunkie: 4:56am On Oct 19, 2023 |
What product does this Wemy industry manufacture and export abeg? Where the products to be exported? 2 Likes |
Re: Weaker Naira Drives Up Foreign Demand For Local Products by mytime24(f): 4:57am On Oct 19, 2023 |
Th.iefnubu 4x4 |
Re: Weaker Naira Drives Up Foreign Demand For Local Products by Kurumaru: 4:57am On Oct 19, 2023 |
Plenty madness in this country, See analysis... 2 Likes |
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