₦airaland Forum

Riskymarvelous:
with #10 deduction? You sound like a fowl

kennyamusan:
Comparing PMS and food is the most illogical, insane, and stupid thing to ever come out of the brain of a rational human. Food is a daily consumption. Without it, man is nothing. No government in the world can hand off the price of food; otherwise, the citizen would die of hunger. Nigeria barely produces what they eat. Everything is imported because no one wants to farm anymore, but the oil and gas sector is on a different pedestal. It is on the premise of exchange rate. Build new refineries, fix the existing ones, and by the law of demand and supply. Things would naturally fall into place, but one Oniranu thinks by rocket science everything would work naturally in a country ravaged by bandits, where most of its agricultural produce comes from? ko da ke yen stupid sha

hssd8nland:
Thanks for this explanation. What they don't understand is that you can only implement price control if the government controls more than 40% to 50% of the produce. As it stands, I don't think that's the case.

Willie2015:
Then FG should make farming more attractive to youths...
U dont expect anyone to run a farm with herdsmen and bandits...
wielding AK 47 across the country...Agric inputs are expensive ...
while tools are super expensive..cos of dollar rates...
D agric value chain is too chaotic....for SMES....
Roads to most farms are in bad shape. While transportation of goods
from North to South is in a mess...
Whats difficult in establishing cargoe railways to transport goods...
Meanwhile ..our governors are building airports like Almajiri...
Lastly ....US as a developed nation still subsidize Agric sector up to $30b per year...
Subsidy is not bad ,its only bad in Nigeria cos of corruption..
Every1 should prepare for hunger...oooooo
Cos BAT is not looking at the big picture...

Paraman:
I kuku know i can't afford to buy beans, so you no fit know if price don fall or not

Willie2015:
That's the theory part of economics.......
But we now by practice that they don't work in Naija...
Have we crash the price of cement in Nigeria even with all the local producers
Dangote ...BUA... Lafarge....
What about cost of Agtic produce and common food items ?
U dont leave some sectors to the forces of DD and SS only
Or else masses go suffer...just like we are doing now...
USA dey subsidize Agric sector to the tune of $30b per year...
Let him start by reducing d cost of governance across all tiers of govt
If he is for reforms.
No be to dey push masses into poverty in the name of reforms
While the bog boys feed fat on tax collected.

vanbonattel:


One goid yoruba man called him an economic illiteratta today

LegendHero:
Don't follow what our useless media write in their newspaper, let me break down what he said.

They asked him if he believe in price control and he said NO.

He said it is a thing of demand and supply. When you have enough supply, the people hoarding food will not have much incentive to do that when you have enough supply. So he said rather than mandate businessmen to sell at a particluar price, he'll rather endure we produce more food and beat them with the supply such that hoarding will be detrimental.

He then proceed to give instance of petrol. He said when he brought naira for crude, the people involved frustrated him for few weeks and after allowing demand and supply to deal with them, they resorted to gradual reduction in petrol price. He said the supply is in abundance for petrol so they can't hoard any longer so they have to sell.

If anyone think what he said is bad, then they should tell us how enforcing price control by force is better.

LegendHero:
Now let me ask you this.

—For the sake of argument, let’s agree #1540 per USD is the current rateof the Naira to the USD (I don’t believe this is the true rate yet).

—If you are saying Tinubu should peg it to #600, that means someone will need to cover for the differences. How do you think Tinubu should afford subsidy of over N900 on every $1 exchanged?

I agree he can come in to the market to give some form of subsidy on it, but blowing N900 per $, is detrimental in the long run. They’ll just print more money and borrow more and that inflation we want to curb will only go up more.

I just think we need to aggressively produce more, the shortest way to achieve that is crude output. Don’t sleep, just make sure by fire by force, the crude output go up in the shortest time and maintain some level of $$ supply.