The Chairman, House of Representatives Committee on Information, National Orientation, Ethics and Values, Olusola Fatoba, has canvassed support for the manufacturing sector to discourage imports and boost the country’s economy.

This was just as he said clamours in some quarters for the reopening of borders were unnecessary as Nigerians should be preoccupied with how to produce what Nigerians consume rather than dependence on foreign-produced goods.

The lawmaker representing Ado/Irepodun-Ifelodun Local Government Areas of Ekiti State in the National Assembly spoke during a chat with journalists in Ado Ekiti, Ekiti State capital on Tuesday.

He said, “Re-opening the borders will not solve the economic crisis the nation has found itself, but it will rather cripple the country. I am not an advocate or a supporter of opening of our borders for foreign goods to be brought into our country.


“Let us endure whatever situation we find ourselves in. We should be able to produce what we eat and if there are things we cannot produce, let us call on the experts from those countries to come and put us through so that we can do them ourselves and we pay those experts off rather than allowing all manners of junks finding their way into our country.”

The federal lawmaker urged state governments to look into programmes that would improve the people’s living standards, saying, “If the federal and state governments can empower the average Nigerian through incentives that will boost massive production at the local level, the economy of Nigeria will be back in no distant time.”

On the rising prices of foodstuffs despite the naira gaining value against the dollar, Fatoba said it was the duty of the government to regulate prices of goods and services in the market at a time like this.

“Appropriate government agencies should be up and doing in ensuring the prices of goods and services are regulated. It is only in Nigeria that whenever the prices of goods and services go up, down becomes difficult unless it’s forced.

“That is why even though Naira is gaining, prices of food keep skyrocketing. But if Nigeria can regulate the prices then we can have a stable and unified price of these things in the market,” he said.

Fatoba added, “If the manufacturing sector is encouraged, it will ease the burden on an average Nigerian. The government should invest massively in agriculture, let us subsidize equipment and staple crops more. We can give out tractors, chemicals, crops and other equipment needed that will enhance farmers’ productivity.

“We should also encourage our artisans to produce those things we need and once we can have them in large quantities, the majority of the challenges facing our country will be solved.

“We also have to plug the loopholes in the economy, money should not just disappear without traces. All these should be accurately accounted for so that it stays in the economy and further stabilizes the economy.”

Fatoba, who hailed the ongoing flyover project in Ekiti State capital, said, “The bridge is necessary to ease movement in the affected area. If you are familiar with the area where the bridge is being constructed, you will know that there is always a bottleneck there when it comes to the movement of goods and services.

“It will add more value to the economy of the state, and by the time the airport is in operation, definitely it is going to enhance the movement of goods and services within that axis. Those coming and going out of the capital will have easy access to neighbouring states and communities. So, to me, it’s a good initiative.”

Source: https://punchng.com/Border-reopening-will-cripple-Nigeria’s-economy-Rep-warns

Government in Nigeria can not control the prices of goods and services, despite having price regulatory agencies in place by the same govt, this is unfair to the masses.

Foolish and devilish imp. He is not feeling the hardship Because of the loot in his possession.

Padded budgets & bullet proof cars will not

Court jesters

Nigeria defies economic principles.

Buhari closed Nigeria's border for almost eight years leading to shortage in consumable goods and increase in prices of these goods, part of which we're still suffering till today. Imported goods even became cheaper in most cases.

Truth is, we're yet to attain self-sufficiency, until we deal with power and energy problems as well as security.

It will not,he is concerned because he has businesses that will be affected , not that he cares

Patriotic rep😂

Bt stealing nja money will'nt cripple nja economy 🤔

Why are we still buying foreign-made SUVs for Rep members?
Tinubu should stop patronizing foreign doctors, afterall we have doctors at home, both native and orthodox doctors.

Have the border closure done any good to the Nigerian economy before? Same place where companies are folding up due to unfeasible government policies?

Yet these stupid lawmakers are going abroad for health tourism, buying foreign cars and all manner of nonsense. Open the damned border.

Air and sea borders are not closed

When the Nigerian Manufacturers are holding Nigerians to ransom.

They produce and sell to international market at the price they want, but Nigerian cannot import as they like forcing prices up

They used CBN dollar to support Agric and rice production for Nigerians all for the Nigerian rice Paddy to flood AfroMarket, same with maize

Gas plant was sold at cheapest price just to encourage production for Nigerians, when it started producing we were told theu need to do international market first or we buy St international price.

If you fear importation, I know you will fear AI. Trust me these have come to stay

But Nigeria economy is already crippled nah or which other economy is he talking about?

If you know the amount of poverty is the land erh!

To me, any policy that will make life easier for the people, is very welcome.

The ediot Rep said "let us endure" his brain need serious checking.

But northern borders are open, that one is not going to cripple the economy

The suv, constituency allowance, huge salary he is collecting will not cripple the economy

The article and concern of the rep are everything that can't make a country experience economic prosperity.

Opening your borders will reduce the price of goods and services. Because there will be inflow from many sources who intend to capture your market. Even many of the indigenous citizens can see it as an opportunity to act as wholesalers, retailers, or distributors of such goods.

Opening your border allows your citizens to focus on the absolute or comparative advantage of goods and services. Rather than try to reinvent the wheel, they can focus on goods and services they have higher powers compared to other countries.

By opening your border and allowing the free flow of goods and services, that both import and export, you make life easy for the common man because producers will compete for them by lowering their prices. If the citizens can get their basic needs met they can focus on other things like innovation, invention, and research.

Any economy regulated by the government makes both imports and exports difficult. The result is hardship. The people favored are government businessmen and their friends and families. It gives room to monopoly. It makes local manufacturing and production difficult.

The function of government is to check for standards and quality and maybe bail out in tough economic situations. By the way, those difficult economic conditions are a result of useless government policies.

The free market is what built, America, China, Singapore, etc. Allow the market to decide what will happen in the economy. Give it a free chance. The free market creates more prosperity than anyone can think of.

Greed and exploitation in the free market is a fallacy. A fallacy we've all swallowed as truth. When there's competition, which is a result of the free market, there can't be an unnecessary hike in price. See Air Peace and other airlines.
Again we don't also consider the cost of production. We only see the price and start shouting "greed and exploitation".

However, in a free market, a capitalist market, every manufacturer will maneuver costs to ensure that the price for goods is on the same par with similar goods in the market. Or better still switch to another form of business to avoid loss.

Nigeria should open its border. Reduce the amount of import charges. Reduce tax rate. And the economy will grow.

There was no country when they were poor that closed her border that ever prospered. No country on earth. No one.

Thanks.

Noted.

The border is only closed in the south.
In the North its open.

Buhari closed the border to kill igbo business

There is hunger in the land. Boarder opening wi hell reduced a lot of items

For Agricultural produce:
What has been the benefit of all the FG interventions to farmers, especially up north, if everything seems so expensive especially when prices of the imported food products goes up.

I believe anyone, trader or farmer that is receiving govt intervention should not sell like those not receiving.
Would it not be better for govt to fix roads, education, the health sector or electricity that will benefit all rather than giving interventions that we won't see the comparative advantages?

For instance, we have bought Nigerian rice from Benue that the vendor said its neat,, even showed us pix (fake) of a neat handful lot of rice, she also said no stone, no black stuffs etc, but it's the direct opposite on first cook of the rice, felt so sad and disappointed. Called her to complain, she later admitted, but why the deciet? We have sent the remaining to her paying waybill twice and till this morning she's yet to refund our money after several weeks.

If the Nigerian produced own are as good and as affordable, only very few will go for the imported ones if at all there will be.

There is hunger in the land. Boarder opening wi hell reduced a lot of items
Most of our local producers are evil.
All they say is Na Emilokan dey now

Which economy?
Thunder strike your mouth

DatNiggaDaz:
Padded budgets & bullet proof cars will not

Court jesters

why can't he advocate for home made car from innosin motor instead of the one they bought 140m from oversea . No one is saying they should open border for all commodities of goods but items like rice and few goods will bring down the prices of other goods in the MKT.

But Northern borders are opened. Smh

May sanpona strike that your stinking mouth

Tunda faya this man. Which economy? Inflation and food insecurity is high and you are their, trying to enrich customs guys the more.

They should open d damn border and collect their excise duties

helinues:
Air and sea borders are not closed

Maybe you will import cars through Air

Akwamkpuruamu:


Maybe you will import cars through Air

Hahaha, how about cargo airplanes?

Slap that man

Western borders or Eastern leaders, because Northern borders have always been opened. Na Ogun go kee una Mama there

Lol.

When you have excess, especially when that excess is provided for you without stress, it is easy to tell others to be patient.

Anyway, Hon. made a bit of sense. But there has to be a balance between opening or closing borders.

Governments at all levels need to do more to tap and develop the local economic potentials of each area.

Nawa4nl:
The border is only closed in the south.
In the North its open.

Buhari closed the border to kill igbo business

Igbo victim mentality again?