₦airaland Forum

The lawmaker representing Borno South, Ali Ndume, has commended President Bola Tinubu over the recent embargo on the importation of foreign goods.

The former Chief Whip of the Senate gave the tribute in a statement issued in Abuja on Tuesday.

The PUNCH reported that the presidential directive mandates all federal ministries, departments and agencies to give absolute priority to Nigerian goods, services and know‑how when spending public funds.

The Minister of Information and National Orientation, Mohammed Idris, revealed this to State House correspondents after Monday’s Federal Executive Council meeting at the Villa in Abuja.

Idris noted that the directive will put Nigeria at the ‘centre of every kobo’ the government spends.

Reacting, Ndume described the move as a bold initiative that would go a long way in promoting indigenous entrepreneurs, boost the local economy and generate employment for Nigerians.

He said: “It is heartwarming to hear that President Tinubu has taken this bold decision to ban imported goods that can be produced locally. This will be a major boost for indigenous businesses amid the slipping Nigerian economy.

“If implemented faithfully, it will shield our local producers striving to find their feet from being choked out of existence by established foreign investors who flood our market, unhindered, with goods that are cheaper and even substandard.

“With protection of local industries, there will be employment for our employable youths, the measure will also boost our Gross Domestic Product and the value of Naira will appreciate as there will be less strain on our foreign reserves, since the demand for foreign exchange by importers of such foreign goods would drastically reduce.”

The senator also urged the Federal Government to seek to impose heavy taxes on some of the foreign goods to discourage Nigerians from ‘buying them instead of picking locally produced items.

Source: https://punchng.com/ndume-hails-tinubus-ban-on-foreign-goods/?utm_source=auto-read-also&utm_medium=web

Tinubu’s decision is a great one if followed properly, it will help local businesses grow, make the naira stronger This shows Tinubu truly cares about Nigeria’s economy.

Hope it also includes Toyotas SUVs and benz sedans


Foreign medical trips too

Mugu

Expect prices of goods to soar like super eagles .... and more sege promax for all agbadorians

Bros don dey see the handwriting on the wall say their yeye coalition no go work.

Is he trying to get in the good books of Mr President as he's now seeing the gale of defections and how the coalition has stumbled before starting


If anybody go praise Tinubu, no be Ali.

Even if e go be Ali, e no suppose be Ali Ndume🥴🥴🥴

Prices of local good to Sky rocket

We don’t have a government since APC came to power

Na so dem stop food importation but will never eat local food

People just dey fall in place for Jagaban!

Did the President Ban foreign goods, I think it is NO! They only emphasize the priority of local goods over foreign products.

Tinubu should first ban himself from going to France for medical treatment, that is when Nigerians will take him serious.


He should use the Abuja State House Clinic as example.

He should forego all his foreign made cars and buy Innoson or GAC or any other Nigerian made car brand.


Let's start from there, he should lead by example, talk is cheap.


Looting machine wan fight corruption, wonders

This our useless president will make foreign rice price to increase na

Production and reducing our imports is the only way to boost our currency value and reduce inflation otherwise the ugly trend will continue.

SoftSport:
Tinubu’s decision is a great one if followed properly, it will help local businesses grow, make the naira stronger This shows Tinubu truly cares about Nigeria’s economy.

U forget part of the local products are food grown in farms,
What has been done about herders destroying crops of farmers and killing of farmers?
How do we produce food consume and export when farmers aren't safe

Nigerians sufferings have just been amplified. The poor state of the economy is not as a result of people wanting to import, it is because the country does not provide a suitable environment.

When you have to pay for every infrastructure that should otherwise be provided cheap because you pay taxes, how would you thrive?
Power is expensive and epileptic. Roads are terrible, haulage costs are high and lack of local tech would make you import essentials at unfavourable exchange rates. Over hundred agencies would be chasing you around for dues, looking to fleece you because you dared open shop. From Local Govt to nafdac, signage, etc. Even agbero would stop your driver on the road to collect their share or they disrupt your business.

There's a solid reason why the only rich people you see around are only into commerce. No one dares go into manafacturing except you are backed by foreign cash. For local entrepreneurs, you have to do fund raising from foreign investors to thrive because BOI would take years to approve a loan that won't even pay your employees salary for 3 months.

Better countries pay their farmers subsidies, give tax relief when you contribute to the society, offer free top tier training to the unemployed, and offer multiple grant competitions to start ups. You have constant energy, internet and asphalt eveerywhere even in the hinterland so things are highly predictable and manageble. and if you overpay taxes, you get refunded.

We can't produce shyt and these goods would be smuggled at much higher prices to meet demand. enjoy your APC govt.

Okay! A country that does not produce anything and hasn't even fixed electricity to enable local production, is placing embargo on importation of foreign goods. Read that again!

While it may sound good, it will only increase prices. Few Nigerian made good can be as competitive as imported ones eg from China.
Ask any manufacturer these days, the cost of electricity or diesel to run generators and to distribute goods takeup almost 70% of production cost. You then have all sorts of gov agencies with different taxes.
If not for our high running cost why should imported goods be cheaper, afterall our cost of labour is low.

AmazingGenius:
Source: https://punchng.com/ndume-hails-tinubus-ban-on-foreign-goods/?utm_source=auto-read-also&utm_medium=web

Which foreign goods?

I wish help is coming 🔜 🥺😢

Meaning Tinubu will only drive nord or innoson?

AmazingGenius:
Source: https://punchng.com/ndume-hails-tinubus-ban-on-foreign-goods/?utm_source=auto-read-also&utm_medium=web

So there's an "embargo on the importation of foreign goods". Lol.

I expect that you support local businesses first, boost youth capacity, provide grants for startup businesses before this step which is a good one. Same mistake made during fuel subsidy?


You cant stop a child from eating outside without ensuring there's enough food in the house except you want to kill them of hunger and starvation

AmazingGenius:
Source: https://punchng.com/ndume-hails-tinubus-ban-on-foreign-goods/?utm_source=auto-read-also&utm_medium=web

Where are the local goods

Story story a government of criminality all this emergency approach will never solve the problem Tinubu created on is first day at work subsidy is gone so the pharaoh said floated the naira in same window that man is a stack illiterate.

ednut1:
Meaning Tinubu will only drive nord or innoson?

I think Proforce got this one. They should be able to make an armoured SUV-limousine that befits the Asiwaju-Jagaban President.

nedekid:
While it may sound good, it will only increase prices. Few Nigerian made good can be as competitive as imported ones eg from China.
Ask any manufacturer these days, the cost of electricity or diesel to run generators and to distribute goods takeup almost 70% of production cost. You then have all sorts of gov agencies with different taxes.
If not for our high running cost why should imported goods be cheaper, afterall our cost of labour is low.

You mean it will increase smuggling. But, yeah, prices too.

Buhari closed border nothing worked just inflation.

nedekid:
While it may sound good, it will only increase prices. Few Nigerian made good can be as competitive as imported ones eg from China.
Ask any manufacturer these days, the cost of electricity or diesel to run generators and to distribute goods takeup almost 70% of production cost. You then have all sorts of gov agencies with different taxes.
If not for our high running cost why should imported goods be cheaper, afterall our cost of labour is low.

We must start somewhere and we must start, if government is serious, we can find products where we have comparative advantage and produce locally as well as export...especially reducing our imports of things we can provide for ourselves...this will reduce reliance on foreign exchange and increase the value of naira...we must be a productive nation or in the future naira will become useless, and inflation sky rocket.

kadraxkyle:
Expect prices of goods to soar like super eagles .... and more sege promax for all agbadorians

And you have separate markt where you buy your stuffs cheaper because you are a obidient ba?