₦airaland Forum

Let me start by saying this... If you are not grounded in economics please read and pass

There has been this sentiment in Nigeria that import is what's killing Nigerian economy.. Lmaooo uts funny

Let me start by saying this importation has never harmed any economy, lack of export is what kills an economy

If you refuse to import what you can produce cheaper than imported once you are reducing the living standard of your people by reducing their purchasing power

As a nation because you can produce something doesn't mean you should... Say the locally made A cost ₦100 and imported once cost ₦20 by all means allow import

Some import duty we have is exactly what is killing Nigeria

Why should there be import duty on wheat? Can we ever produce wheat effectively? Never

Why us their import duty on stock fish? Can it grow here?

Why is their import duty on turkey? Do we have a turkey industry?

Don't get me wrong I understand import duty on rice, we have the land and climate and labour to compete

But import duty on steel? Lmaooo England just closed its last steel company because it was running at a loss... Ajokuta can never work or produce steel cheaper or even 150% price of imported steel... The iron concentration is too low 33% minimum requirements is 68% ... So we would need to enrich it which would increase cost

Import duty on steel have killed many industry from going global because their steel price put them at a disadvantage...

We want auto industry but we have import duty on steel and aluminum? Funny people

Why is their import duty on fabrics? We can never compete in the fabrics industry our cottons are too expensive and production is too poor... Import duty on fabrics is preventing Aba from competitng with turkey🇹🇷 and Bangladesh

Ok you want to protect fabrics industry but you won't allow cotton import? Funny people

To put it plainly To export as a nation you must import especially if you want to export finished goods and not raw materials

There is a reason the biggest export nations are also biggest import nations

We need economic policy change as a nation

Well what do I know

You just want to justify container economy you practice in your region.

Your Obi supermarket depends on importation of junks into the country and you want naira to appreciate.

Are you expecting a fiat pronouncement that will make naira appreciate overnight?

Let your charity begin at home and first tell your Obi to embark on building a business that will produce products that Nigeria can buy and export, stop blaming the president for the problem caused majorly by your brothers

Edited: I am sure calling out the hypocrisy of the OP and his Obidients brothers really touched your nerves hence your going gaga on my mention.

Just like I said your container economy is what has destroyed this nation and it is high time Nigeria consciousness is raised to address the monster caused majorly by a section of the country.

The government didn't placed a blanket ban on importation as the OP trying to portrayed and placing tariff on certain commodity is necessary to protect local industry and create employment.

How will tariff placement on alcohol, cigarette, fabrics and some basic grains that can be produced locally reduced the standard of living according to the OP.

His general contents comes from the position of unpatriotic stance and a traders mindset where individuals business of importation hurts the overall economy of Nigeria.

Today, the proponent of importation is good are the people dumping substandard products especially pharmaceutical items and drugs that are killing Nigeria in the name of importation into the country, empowering foreign industries while destroying the local ones and creating high unemployment and weak currency.

Hypocrites

Ttalk:
You just want to justify container ec

You just want to put your mouth on a topic way above your intellectual capacity

Lack of value addition and export. You sell crude raw. Cocoa and coffee raw. Cotton raw. Rubber raw.

Lithium too.

How will there be good balance of trade?

Growing economy is beyond container economic reasons and government policy covers so many areas beyond profit making.

Israel developed her agricultural sector not because it has comparative advantage but because it is a security leverage to develop mechannised agriculture in a face of limited land and hostile neighbors.

Many of those items you listed above can well be developed and turned into profitable venture.

Malaysia doesn't have a better comparative advantage in Palm oil production until they develop that crop out seed they got in Nigeria.

Nigeria leaders are bad but it would be worse with the kind of mindset you and your people have.

Years of importation have killed the innovative and entrepreneur talent of Nigeria people, your traders mindset is not same mind you use to build thriving industries, you are used to instant gratification but building industry and a nation requires delay gratification

Ttalk:
You just want to justify container economy you practice in your region.

Your Obi supermarket depends on importation of junks into the country and you want naira to appreciate.

Are you expecting a fiat pronouncement that will make naira appreciate overnight?

Let your charity begin at home and first tell your Obi to embark on building a business that will produce products that Nigeria can buy and export, stop blaming the president for the problem caused majorly by your brothers

so if you didn't add Peter Obi in your comment, you wouldn't have known what to say? Peter Obi lives rent free in your brain.

Na wa for una o!!

Ttalk:
Growing economy is beyond container economic reasons and government policy covers so many areas beyond profit making.

Israel developed her agricultural sector not because it has comparative advantage but because it is a security leverage to develop mechannised agriculture in a face of limited land and hostile neighbors.

Many of those items you listed above can well be developed and turned into profitable venture.

Malaysia doesn't have a better comparative advantage in Palm oil production until they develop that crop out seed they got in Nigeria.

Nigeria leaders are bad but it would be worse with the kind of mindset you and your people have.

Years of importation have killed the innovative and entrepreneur talent of Nigeria people, your traders mindset is not same mind you use to build thriving industries, you are used to instant gratification but building industry and a nation requires delay gratification

Like I told you this us beyond your intellectual capabilities

Israel developed agricultural sector yes but they still import foods and agro product.. They didn't go about trying to farm what they don't have comparative advantage of... In fact isreal a country with less population than Lagos spent nearly 9 billion dollars importing food
That's almost 4 times Nigerian food import at 2.5 billion dollars

So called isreal with developed agricultural sector imported 4 times the amount of food we nigeria a country over 20 times their population imported

U are free to google it

As for Malaysia they have almost same land suited for palm oil with less far less population than Nigeria's about 15% of our population... And you a functional human being think u have better comparative advantage than them in palm oil?

Bros leave this topic is beyond your intellectual capacity

Beremx:
so if you didn't add Peter Obi in your comment, you wouldn't have known what to say? Peter Obi lives rent free in your brain.

Na wa for una o!!

And Peter Obi is your concubine that makes you his advocate.

I only use him as a typical example of hypocrisy that has blinded the reasoning capacity of many that attack the president

Ttalk:
You just want to justify container economy you practice in your region.

Your Obi supermarket depends on importation of junks into the country and you want naira to appreciate.

Are you expecting a fiat pronouncement that will make naira appreciate overnight?

Let your charity begin at home and first tell your Obi to embark on building a business that will produce products that Nigeria can buy and export, stop blaming the president for the problem caused majorly by your brothers

Where is your brain? Did you even read his admission?

There's nothing wrong with importation

Very good and sensible post.

Ttalk:
You just want to justify container economy you practice in your region.

Your Obi supermarket depends on importation of junks into the country and you want naira to appreciate.

Are you expecting a fiat pronouncement that will make naira appreciate overnight?

Let your charity begin at home and first tell your Obi to embark on building a business that will produce products that Nigeria can buy and export, stop blaming the president for the problem caused majorly by your brothers

Village student Don drop quote. See the nonsense you are spewing. Between container goods and refined petrol products which one consumes more forex

Ttalk:
You just want to justify container economy you practice in your region.

Your Obi supermarket depends on importation of junks into the country and you want naira to appreciate.

Are you expecting a fiat pronouncement that will make naira appreciate overnight?

Let your charity begin at home and first tell your Obi to embark on building a business that will produce products that Nigeria can buy and export, stop blaming the president for the problem caused majorly by your brothers

LMAOOOOOOOO it will be a cold day in hell before una go fit cap better thing
I dare you to sensibly counter his opinions using any economic theory with evidence of its success

Ttalk:
Growing economy is beyond container economic reasons and government policy covers so many areas beyond profit making.

Israel developed her agricultural sector not because it has comparative advantage but because it is a security leverage to develop mechannised agriculture in a face of limited land and hostile neighbors.

Many of those items you listed above can well be developed and turned into profitable venture.

Malaysia doesn't have a better comparative advantage in Palm oil production until they develop that crop out seed they got in Nigeria.

Nigeria leaders are bad but it would be worse with the kind of mindset you and your people have.

Years of importation have killed the innovative and entrepreneur talent of Nigeria people, your traders mindset is not same mind you use to build thriving industries, you are used to instant gratification but building industry and a nation requires delay gratification

there is a reason why economists call it balance of trade..... you don't need to bring politics into discussion like this,what the op said is the truth,the government need to adjust some policies for Nigeria to grow. There are certain exports nigeria can't compete now. Nigeria government need real technocrats in some agencies not politicians and sycophants.

CodeTemplarr:
Lack of value addition and export. You sell crude raw. Cocoa and coffee raw. Cotton raw. Rubber raw.

Lithium too.

How will there be good balance of trade?

good policies is what investors need to see.....there should be targets for both domestic and international. Some agencies need total overhauling and government need to focus on infrastructures for production.

You condemned importation of rice and encouraged wheat, what is the difference from the two go to the north see to wheat.if you keep importing because the price variation when are you going to level up the other nations and master the technical know how, human capacity

hakeemhakeem:
You condemned importation of rice and encouraged wheat, what is the difference from the two go to the north see to wheat.if you keep importing because the price variation when are you going to level up the other nations and master the technical know how, human capacity

We have the land and climate to cultivate rice
We don't have natural climate to cultivate wheat

In Nigeria, it's politicians first, those who will be enriched through political connections and Nigeria last.
They know all these.

mrvitalis:
We have the land and climate to cultivate rice
We don't have natural climate to cultivate wheat

Says who the north region cultivate wheat the same problem with have is that we never utilize our potential level

Well according to statistics, Nigeria has been having more exports than imports since 2021 at least

hakeemhakeem:
Says who the north region cultivate wheat the same problem with have is that we never utilize our potential level

Why don't u people understand basic English

Cultivate effectively is different from cultivating

What's the yield in Northen Nigeria?

Agbegbaorogboye:
Well according to statistics, Nigeria has been having more exports than imports since 2021 at least

The difference has always been negligible

mrvitalis:
Let me start by saying this... If you are not grounded in economics please read and pass

There has been this sentiment in Nigeria that import is what's killing Nigerian economy.. Lmaooo uts funny

Let me start by saying this importation has never harmed any economy, lack of export is what kills an economy

If you refuse to import what you can produce cheaper than imported once you are reducing the living standard of your people by reducing their purchasing power

As a nation because you can produce something doesn't mean you should... Say the locally made A cost ₦100 and imported once cost ₦20 by all means allow import

Some import duty we have is exactly what is killing Nigeria

Why should there be import duty on wheat? Can we ever produce wheat effectively? Never

Why us their import duty on stock fish? Can it grow here?

Why is their import duty on turkey? Do we have a turkey industry?

Don't get me wrong I understand import duty on rice, we have the land and climate and labour to compete

But import duty on steel? Lmaooo England just closed its last steel company because it was running at a loss... Ajokuta can never work or produce steel cheaper or even 150% price of imported steel... The iron concentration is too low 33% minimum requirements is 68% ... So we would need to enrich it which would increase cost

Import duty on steel have killed many industry from going global because their steel price put them at a disadvantage...

We want auto industry but we have import duty on steel and aluminum? Funny people

Why is their import duty on fabrics? We can never compete in the fabrics industry our cottons are too expensive and production is too poor... Import duty on fabrics is preventing Aba from competitng with turkey🇹🇷 and Bangladesh

Ok you want to protect fabrics industry but you won't allow cotton import? Funny people

To put it plainly To export as a nation you must import especially if you want to export finished goods and not raw materials

There is a reason the biggest export nations are also biggest import nations

We need economic policy change as a nation

Well what do I know

While imports themselves don't necessarily ruin an economy, a large trade deficit (where imports exceed exports) can have negative consequences. When a country imports more than it exports, money flows out of the country, potentially impacting its exchange rate, economic growth, and even leading to increased national debt.
Our imports excessively exceed our exports and it has been so for decades.
We only had some reprieve when we exported huge amount of oil like during the time of President Jonathan.

Ritchiee:
While imports themselves don't necessarily ruin an economy, a large trade deficit (where imports exceed exports) can have negative consequences. When a country imports more than it exports, money flows out of the country, potentially impacting its exchange rate, economic growth, and even leading to increased national debt.
Our imports excessively exceed our exports and it has been so for decades.
We only had some reprieve when we exported huge amount of oil like during the time of President Jonathan.

Firstly that's a big lie at the bolded

Our trde deficit has always been between +4 billion to -4 billion dollars

If you add foreign remittance it has always been positive

India has always had negative trde deficit

Your naira is weak not from import.. But loans your government take

mrvitalis:
The difference has always been negligible

It doesn't matter
The important thing is that import is less than export as far as Nigeria is concerned
Why that has not translated into favourable exchange rate is the big question

mrvitalis:
Let me start by saying this... If you are not grounded in economics please read and pass

There has been this sentiment in Nigeria that import is what's killing Nigerian economy.. Lmaooo uts funny

Let me start by saying this importation has never harmed any economy, lack of export is what kills an economy

If you refuse to import what you can produce cheaper than imported once you are reducing the living standard of your people by reducing their purchasing power

As a nation because you can produce something doesn't mean you should... Say the locally made A cost ₦100 and imported once cost ₦20 by all means allow import

Some import duty we have is exactly what is killing Nigeria

Why should there be import duty on wheat? Can we ever produce wheat effectively? Never

Why us their import duty on stock fish? Can it grow here?

Why is their import duty on turkey? Do we have a turkey industry?

Don't get me wrong I understand import duty on rice, we have the land and climate and labour to compete

But import duty on steel? Lmaooo England just closed its last steel company because it was running at a loss... Ajokuta can never work or produce steel cheaper or even 150% price of imported steel... The iron concentration is too low 33% minimum requirements is 68% ... So we would need to enrich it which would increase cost

Import duty on steel have killed many industry from going global because their steel price put them at a disadvantage...

We want auto industry but we have import duty on steel and aluminum? Funny people

Why is their import duty on fabrics? We can never compete in the fabrics industry our cottons are too expensive and production is too poor... Import duty on fabrics is preventing Aba from competitng with turkey🇹🇷 and Bangladesh

Ok you want to protect fabrics industry but you won't allow cotton import? Funny people

To put it plainly To export as a nation you must import especially if you want to export finished goods and not raw materials

There is a reason the biggest export nations are also biggest import nations

We need economic policy change as a nation

Well what do I know

Importation of goods kills an economy as
it kills indigenous and infant industries

Any goods imported into the country,creates employment opportunities for the citizens of these countries and also lead to capital flight,especially finished goods.

Western countries imports mostly cheap raw materials from Africa and turn them into finished products before exporting it back to sell at a higher price.

This gives them trade surplus as those finished products are in high demand in Africa where they imports the cheap raw materials from.

The host countries are always on trade deficit because they are highly dependant on foreign goods.

Their only export are mostly cheap raw materials.

mrvitalis:
Firstly that's a big lie at the bolded

Our trde deficit has always been between +4 billion to -4 billion dollars

If you add foreign remittance it has always been positive

India has always had negative trde deficit

Your naira is weak not from import.. But loans your government take

Even USA has negative trade deficits especially with China and this is why Trump is putting the largest chunk of tariffs on the imports from China and also attracting more manufacturers to USA.

Excessive imports will affect an economy negatively if the nation is low in production and exports.

hakeemhakeem:
Says who the north region cultivate wheat the same problem with have is that we never utilize our potential level

put the infrastructure in place to cultivate the wheat enough to meet our needs as a people first of all and this infrastructure includes adequate security for the farmers so their heads wouldn't be chopped off in their farms. You have a damning food crisis under your nose but you're still speaking semantics and grammar. Check out the top five highest importers in the world and prove to us here that Nigeria produces up to fifty percent of whatever they're producing there. Your people and their dindinrin policies are choking this country and pushing Nigerians to desperation including you and if not you then, many of your family members and friends. Oga, go outside and touch the grass abeg

Ritchiee:
Even USA has negative trade deficits especially with China and this is why Trump is putting the largest chunk of tariffs on the imports from China and also attracting more manufacturers to USA.

Excessive imports will affect an economy negatively if the nation is low in production and exports.

And that's why expert are telling Trump it would never work

Celestialsword:
Importation of kills an economy as
it kills indigenous and infant industries

Any goods imported into the country,it creates employment opportunities for the citizens of these countries and also lead to capital flight,especially finished goods.

Western countries imports mostly cheap raw materials from Africa and turn them into finished products before exporting it back to sell at a higher price.

This give them trade surplus as those finished products are in high demand in Africa where they imports the cheap raw materials from.

The host countries are always on trade deficit because they are highly dependant on foreign goods.

Their only export are mostly cheap raw materials.

Which economics theory are you quoting or this is your opinion

Can you name a country that practice your idea that have grown

Agbegbaorogboye:
It doesn't matter
The important thing is that import is less than export as far as Nigeria is concerned
Why that has not translated into favourable exchange rate is the big question

I have told you why... But na you don't want to listen