Iceberg3:

But you are in Jos nah

hahaha. Which Jos, I've made way since o

osothermal:
hahaha. Which Jos, I've made way since o

Abeg show us way nahhh

mfm04622:


The proceeds goes to the farmer that produced the goods, not CBN. We earn the foreign exchange because they come with their currency which they change to Naira before buying our goods

Yes but they convert their dollars at the black market which is out of the CBN's control and not regulated.

GeneralDae:

Yes but they convert their dollars at the black market which is out of the CBN's control and not regulated.

It doesn't matter. What we need is the volume.

In one breath you said nigeria as a country produces nothing but only consumes and now you are blaming the government for a policy that will self motivate the farmers.

Let me break it down so that many will understand it better:

1. The purpose of dealuation of currency is to stimulate production for exportation.

2. More monies to the farmers will literally mean increase of investment in Agro allied businesses.

3. More production and more players in the industry will drop the price in the long run and increase employment rates in the country.

4. If implementated, the commodity produce system promised by the PBAT will protect the commodity market in Nigeria.

5. Unlike the previous years, despite the abnormal last minutedemands for local rice, the market did not shake because there is more than enough to sell.

Kudos should be given to GEJ that started it, PMB that modified it and took it to another level and PBAT that continued with the policy.

It is just a matter of time before things will start getting to shapes if we don't relent as a country. Presently, no country in the world is having it easy.

KEVIND:

Size is not strength

Who says?
Only if you don't know how to use your size( Population) to get what you want! Do you know that Nigeria - Population of 250 Millions is why many Organisations will remain in Nigeria for life, unlike Ghana 32Millions- just a little higher than Lagos State Population!
But ,if you don't know how to harness the big Population,then, you are on your own! Chinese and India of 1.4 Billion Populations each,are using it to their Advantage and Achievements !
- Both China and India- have gone to the Space, and in fact- India perform the feat this year( 2023) to join the league of Space Explorers!
Only Nigeria that is not even up to America Population(350-Million) - that is just doing rasmoboge with her own Population - where Terrorists, Kidnappings,Gun-running,Drug dealers and Criminalities - accross our borders are having a field day because they have Local supports!
You cannot try it in USA - America - for Foreigners to come to your Country without traces and repacusions!

Same problem with fuel subsidy will begin again
The buying by neigbhours will create scarcity and drive the prices up and Nigerians will become more hungrier

mfm04622:


It doesn't matter. What we need is the volume.

The gap between the two markets distorts the market equilibrium hence the BDC's have the dollars but their trade with it is not regulated as it should be. The CBN and Banks needs more of those dollars.

They don't need to come with hard currency, CFA is strong enough against the Naira to help them buy our grains cheaply.

GeneralDae:

The gap between the two markets distorts the market equilibrium hence the BDC's have the dollars but their trade with it is not regulated as it should be. The CBN and Banks needs more of those dollars.

It is a demand and supply issue. If we have more dollars than we need, rates will come down. So we need to up our productivity to earn more dollars, you will see rates decline.

Ikaeniyan0:
Farmers are smiling to the bank

Thats what they dont know.aint this shyte China does as well?purposly devaluing thier currencies.

Yankee101:
Same problem with fuel subsidy will begin again
The buying by neigbhours will create scarcity and drive the prices up and Nigerians will become more hungrier

Nah we just farm more.

GeneralDae:

Yes but they convert their dollars at the black market which is out of the CBN's control and not regulated.

NAIRA and CFA xchange up north.

I thought they said inflation in Nigeria was caused by expensive food? Now they are saying our food is cheap? Both cannot be true, can they?

omohayek:
It takes either serious incompetence or outright malice for a "journalist" to take a fact which is essentially good news - Nigeria's farmers are now competitive in the international marketplace - and spin it as a negative development. To all those claiming that this is somehow a "terrible" thing (and blaming Tinubu for it), what happened to all of your usual moaning about Nigeria needing to develop an export-led economy? Now Nigerian farmers are exporting more, and still you complain!

What are you smoking really? We cannot even meet local consumption because of inflation. Our currency is weak that is why these guys are buying up our produce. They are winners in the and we are the losers. The FX ends up in the parallel market and not in the official market.

erico2k2:

Nah we just farm more.

Maybe you don’t know that nigeria increased it’s importation and it didn’t stop the cross border sales until after subsidy removal

Increasing you production will give them even cheaper grains

Market protection is the way forward

tctrills:

You are not making any sense. First, no one is blaming the farmers but to think that the solution is for more people to go into farming shows that you have no understanding of how things work.
Nigeria has more farmers than the EU and US put together yet we can't feed ourselves.
Again, the average Nigerian farmer is poor. I have traveled many of the biggest farming communities in Nigeria and I don't see lots of millionaires. I see very poor and backwards farmers.

You're the one who's not making sense, or rather, you're getting the whole point wrong.
This thread is about people outside the country buying our produce because of the value of our currency. The reason you're cursing the government is what I do not understand. You're only worried about the value of our currency as compared to that of our neighbors which is not a big deal if we're self sufficient. We should only be worried that almost all our farmers are on the subsistence level. Things are hard and getting harder in the country because we depend mostly on countries to meet our basic needs

Yankee101:


Maybe you don’t know that nigeria increased it’s importation and it didn’t stop the cross border sales until after subsidy removal

Increasing you production will give them even cheaper grains

Market protection is the way forward

I meant plugging shortage. If people produce e further south they will now be forced to get forex cos CFA don't trade down south.this is fact

Calitoscassius:
Wellcome to the corrupt Zhoo,

If you voted for Buhari and Tifnubu or voted tribalistically, if you also supports the detention of a innocent Man by DSS even though the courts ruled to release him. please stop disturbing us.

You can't prove beyond any reasonable doubt that I voted these candidates to office, yet you confidently accuse a total stranger.
Since you can't help, why can't you look on as others did ?

Japa if you can...I repeat, Japa if you canJapa if you can...I repeat, Japa if you can...

DeOTR:

You're the one who's not making sense, or rather, you're getting the whole point wrong.
This thread is about people outside the country buying our produce because of the value of our currency. The reason you're cursing the government is what I do not understand. You're only worried about the value of our currency as compared to that of our neighbors which is not a big deal if we're self sufficient. We should only be worried that almost all our farmers are on the subsistence level. Things are hard and getting harder in the country because we depend mostly on countries to meet our basic needs

Oga, you have a falling currency and a food shortage. We should be worried about everything.
There is a growing inflation because the supply of food can't meet the demand.
Now you say you don't understand why I am blaming your government right?
Let me explain to you.
The only reason your currency keeps falling is because of very bad decisions made by your government.
We have the 3rd worse performing currency of 2023 and this is leading to inflation.

Nauttyprof:



Pity yourself first. Your bitterness is harming you. Everything is always about Tinubu

Who do we blame?

We practice Federalism system of government so the blame goes to him

erico2k2:

I meant plugging shortage. If people produce e further south they will now be forced to get forex cos CFA don't trade down south.this is fact

Read the article
They don’t use CFA but dollars which they change to naira

That's the law of Business

I don't see any bad news here...

Seun:
I thought they said inflation in Nigeria was caused by expensive food? Now they are saying our food is cheap? Both cannot be true, can they?

Cheap to others with stable currencies that has strengthened against the naira by as high as factor of two.
One naira of 2019 is like N2.50 today.

aspabay:
Illiterates all over this thread. I don’t blame you I blame the reporters who made it look like bad news. You have more people buying from you and you call it bad news.

That’s forex flowing in guys.

You say food is expensive, foreigners are rushing to buy, isn’t that a marvel.

God bless Tinubu.

Embracing higher production no longer crosses the mind of Nigerians(majority). They prefer witchcraft economics of chasing money with little production/output.

The foreigners are rushing in because the naira is weaker compared to their local currencies.

tctrills:


Oga, you have a falling currency and a food shortage. We should be worried about everything.
There is a growing inflation because the supply of food can't meet the demand.
Now you say you don't understand why I am blaming your government right?
Let me explain to you.
The only reason your currency keeps falling is because of very bad decisions made by your government.
We have the 3rd worse performing currency of 2023 and this is leading to inflation.

Our currency is falling because we have a largely unproductive human capital. We should be deliberately devaluing our currency to gain competitive advantage if things were right.
We spend naira, but everytime the value falls, the price of everything goes up. You don't need an expert to tell you our economy is over dependent on importation.
We have food shortage, yes, but how's the strength of our currency suppose to help on that if you're not thinking about importing it?
A nation that can not feed herself, and you want a strong currency? Dey play.

omohayek:
It takes either serious incompetence or outright malice for a "journalist" to take a fact which is essentially good news - Nigeria's farmers are now competitive in the international marketplace - and spin it as a negative development. To all those claiming that this is somehow a "terrible" thing (and blaming Tinubu for it), what happened to all of your usual moaning about Nigeria needing to develop an export-led economy? Now Nigerian farmers are exporting more, and still you complain!

It all depends on what is causing the Naira devaluation. I put that down to excess money in circulation. The journalist is right to interpret it negatively even though it has some advantages. There is no guaranty govt will not print and circulate more money while leaving Nigerians workers pay stagnant. That will drive Naira value down and further strengthen foreign buyers against local buyers of food.
It is a matter of cause and effect cycle being properly separated and put into context

DeOTR:

Our currency is falling because we have a largely unproductive human capital. We should be deliberately devaluing our currency to gain competitive advantage if things were right.
We spend naira, but everytime the value falls, the price of everything goes up. You don't need an expert to tell you our economy is over dependent on importation.
We have food shortage, yes, but how's the strength of our currency suppose to help on that if you're not thinking about importing it?
A nation that can not feed herself, and you want a strong currency? Dey play.

I disagree. It is a combination of factors. Low productivity is one but printing and circulating excess money "carelessly" is another major factor.

Realtruth2023:


What are you smoking really? We cannot even meet local consumption because of inflation. Our currency is weak that is why these guys are buying up our produce. They are winners in the and we are the losers. The FX ends up in the parallel market and not in the official market.

It's not even hard currency they are paying. It's CFA which makes this worse than I initially thought.