₦airaland Forum

mrvitalis:
The level of ignorance to think why we don't produce enough wheat is lack of man power or labour is mind blowing honestly

Economics should be made compulsory

Comparative cost advantage as the driver of international trade is in SS2 economics. In my time, everyone I knew took economics. It seems that's not so anymore.

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

Bros,you sound like an economic expert, please i need you to enlighten me on "why can't their be equal exchange rate amongst all the different currencies of the world rather than the different rates we have today?

Streamz:
This is what Buhari got wrong and made life difficult for Nigerians.

You mean Mr Border Closure. Well, the people he was making life difficult for were cheering him on. They thought we'd be exporting cars and exporting rice by the tons by the time Buhari was through.

The value of exports lie in the promise of earning the currency required to buy offshore, nothing more.

Now if you are not exporting where in the world are you going to get the forex to import.

So it is only logical to tame your appetite for imports if you cannot export to pay for such.

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

Your critique presents a compelling challenge to Nigeria's prevailing sentiment that imports are inherently harmful to the economy. You argue convincingly that the real economic killer isn't importation itself, but rather Nigeria's failure to develop robust export capabilities. When a country imposes import restrictions on goods it cannot competitively produce - like wheat, steel, or turkey - it simply forces citizens to pay higher prices for inferior local alternatives, effectively lowering living standards. This misguided protectionism is particularly evident in cases like Ajaokuta Steel, where Nigeria persists with import duties despite the facility's well-documented inefficiencies, thereby handicapping downstream industries that rely on affordable steel inputs.

The hypocrisy in Nigeria's trade policies becomes especially glaring in sectors like textiles. While the government imposes import duties on finished fabrics to "protect local industry," it simultaneously restricts cotton imports, driving up costs for domestic textile manufacturers in places like Aba. This contradictory approach prevents Nigerian producers from competing globally with textile powerhouses like Turkey or Bangladesh. You rightly point out that successful export nations understand a fundamental truth: to export finished goods competitively, a country often needs to import raw materials or components. The examples of China and Germany demonstrate how being import-dependent in certain sectors can actually fuel export growth in others.

Your argument suggests Nigeria needs a complete overhaul of its economic policy approach. Rather than blanket import restrictions, the government should implement targeted reforms - eliminating duties on goods Nigeria cannot produce efficiently while strategically supporting sectors with genuine competitive potential, like rice production. The current system, which often serves the interests of rent-seeking elites rather than the broader economy, reflects poor governance more than sound economic thinking. Your frustration with these policies is entirely justified, as they prioritize political expediency over the economic welfare of the nation and its citizens. The solution lies not in demonizing imports, but in developing coherent industrial strategies that recognize Nigeria's actual comparative advantages while participating smartly in global supply chains.

Imagine,Mr Vitaliks,like his other group members ,who sees everything wrong with Tinubu's Govt- Is now offering More Importation analysis sambre -to massage his ego!
•Did Japan- embarked on More Importations or More Exports of her Products to Dominate the World 🌎- Yes or No?
•From Car Productions to Anything Electronics,etc- Hunda, Toyota, Nissan,etc
-Productive Economy is the one that Refuses Imports to do More Exports.
-For Example,If NNPC - have been doing More Exports of Fuel ⛽ since her Creations,other than Exports of Crude and more of the same Fuel to our Country,Nigeria would have moved Far and better than any other Countries,in Africa,than today.
-Now,Dangote Refinery - is setting the Baseline of how to Earn Foreign Currencies ( $€) back to Nigeria
That is how it Works.
The Problems with this Govt-is that We( NIGERIANS) are yet to see the REAL INTENTIONAL MODES OF ENSURING THAT WE MOVED AWAY FROM IMPORTATIONS -BECAUSE MOST OF THE AGENCIES, DEPTS, MINISTRIES - ARE HELL BENT IN USING OUR HARD EARN FOREX-TO SETTLE THEMSELVES LIKE BEFORE- through Corruption - at the Ports,Banks- Import-Documentations.
- For We Can ONLY Produced Well- If There Is A Regular Power -Light🚨 in Nigeria,for now those who are holding Nigeria Captives through Power are Playing Politics or Lips 👄 Services.

This post is a great one. Kudos op.
The reason for the tariff is just to raise money to put into the pocket of politicians and start giving us paper economics from their so called expert.
Where are our professors of ecomics, trade etc.
Those policies were never put with Nigeria at heart but with how much money they can make into their pockets then deceiving us with increase in igr and other economic indices that doesn't improve the lives of the common man.

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

You are even replying the joke

Finally a sensible topic makes FP
Not all that propaganda nonsense from the freestuff man

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?

That is why the person with the technology will always be the winner. You sell a gallon of palm oil to him at 10 dollars, and he converts it to cosmetic , beverage and paint and sells the finished products back to you at 100 dollars. That’s one of the reasons our crude oil has yielded shyt for us for decades.

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

Please no use this your grey matter cross road

OOOKEWALE:
Your critique presents a compelling challenge to Nigeria's prevailing sentiment that imports are inherently harmful to the economy. You argue convincingly that the real economic killer isn't importation itself, but rather Nigeria's failure to develop robust export capabilities. When a country imposes import restrictions on goods it cannot competitively produce - like wheat, steel, or turkey - it simply forces citizens to pay higher prices for inferior local alternatives, effectively lowering living standards. This misguided protectionism is particularly evident in cases like Ajaokuta Steel, where Nigeria persists with import duties despite the facility's well-documented inefficiencies, thereby handicapping downstream industries that rely on affordable steel inputs.

The hypocrisy in Nigeria's trade policies becomes especially glaring in sectors like textiles. While the government imposes import duties on finished fabrics to "protect local industry," it simultaneously restricts cotton imports, driving up costs for domestic textile manufacturers in places like Aba. This contradictory approach prevents Nigerian producers from competing globally with textile powerhouses like Turkey or Bangladesh. You rightly point out that successful export nations understand a fundamental truth: to export finished goods competitively, a country often needs to import raw materials or components. The examples of China and Germany demonstrate how being import-dependent in certain sectors can actually fuel export growth in others.

Your argument suggests Nigeria needs a complete overhaul of its economic policy approach. Rather than blanket import restrictions, the government should implement targeted reforms - eliminating duties on goods Nigeria cannot produce efficiently while strategically supporting sectors with genuine competitive potential, like rice production. The current system, which often serves the interests of rent-seeking elites rather than the broader economy, reflects poor governance more than sound economic thinking. Your frustration with these policies is entirely justified, as they prioritize political expediency over the economic welfare of the nation and its citizens. The solution lies not in demonizing imports, but in developing coherent industrial strategies that recognize Nigeria's actual comparative advantages while participating smartly in global supply chains.

Wow you put it better than I did

Thanks

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

Why should a country import stockfish when it is broke? Nigeria has cotton but imports second-hand clothes. Importation and exportation are problems.

mrvitalis:
Do you know how a currency loses value?

Lets start from there

they do so primarily by trade deficits. All other means are second.

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

And what do you think these loans are used for, more imports of course, of goods and services. So it is the same problem. We don't collect foreign loans in naira. We collect foreign loans because we need to import foreign stuff for whatever reason the loan is taken.

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

Well stated, they have turned Nigeria into a consumer economy importing everything that moves. Brazil is a major Wheat producer because it developed a strain of Wheat that can grow in the tropics. Rice and palm oil originated from West Africa, yet these people want the country to waste limited resources on importation.

OOOKEWALE:
Your critique presents a compelling challenge to Nigeria's prevailing sentiment that imports are inherently harmful to the economy. You argue convincingly that the real economic killer isn't importation itself, but rather Nigeria's failure to develop robust export capabilities. When a country imposes import restrictions on goods it cannot competitively produce - like wheat, steel, or turkey - it simply forces citizens to pay higher prices for inferior local alternatives, effectively lowering living standards. This misguided protectionism is particularly evident in cases like Ajaokuta Steel, where Nigeria persists with import duties despite the facility's well-documented inefficiencies, thereby handicapping downstream industries that rely on affordable steel inputs.

The hypocrisy in Nigeria's trade policies becomes especially glaring in sectors like textiles. While the government imposes import duties on finished fabrics to "protect local industry," it simultaneously restricts cotton imports, driving up costs for domestic textile manufacturers in places like Aba. This contradictory approach prevents Nigerian producers from competing globally with textile powerhouses like Turkey or Bangladesh. You rightly point out that successful export nations understand a fundamental truth: to export finished goods competitively, a country often needs to import raw materials or components. The examples of China and Germany demonstrate how being import-dependent in certain sectors can actually fuel export growth in others.

Your argument suggests Nigeria needs a complete overhaul of its economic policy approach. Rather than blanket import restrictions, the government should implement targeted reforms - eliminating duties on goods Nigeria cannot produce efficiently while strategically supporting sectors with genuine competitive potential, like rice production. The current system, which often serves the interests of rent-seeking elites rather than the broader economy, reflects poor governance more than sound economic thinking. Your frustration with these policies is entirely justified, as they prioritize political expediency over the economic welfare of the nation and its citizens. The solution lies not in demonizing imports, but in developing coherent industrial strategies that recognize Nigeria's actual comparative advantages while participating smartly in global supply chains.

You are going in circles trying to avoid our overall lack of competitive edge in anything. Only things the world hasnt showed interest in, like cassava and yam, are things we top production charts of and appear to be competitive in.

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

people prefer buying nigeria wires, was it because govt stopped importation of foreign wires? Govt should support industries with education, power and grants.

Importation destroys any economy that isn't producing anything for itself and for exports.. the Igbos especially wrecked our economy with their container on high sea and importation mentality. It's the singular reason there are many jobless graduates in Nigeria today, industry sector collapse, zero technological advancements as Nigerians now rely on China and likes to produce the gadgets and all other things consumed in the country.

It's a shame that we have people who still think upside down in this present day and time.

ProudlyLagos:
this op and his onitsha market economy…..you just want to justify the nonsense your tribesmen bring into the country and thereby killing the economy.

We all know no country is an island and we all dependent on each other for certain goods, but when the volume of your imported good is far more than you export then you are killing the economy.

And besides the fact that some of this imported goods are substandard even make it far worse and we know the mafia behind this sabotage to the Nigerian economy.

You got him well

Deepthoughts:
Bros,you sound like an economic expert, please i need you to enlighten me on "why can't their be equal exchange rate amongst all the different currencies of the world rather than the different rates we have today?

Bro it's a very very long and complex

But simply put the more the world wants your money and the less of it you print the higher the value

This is an over simplification ooh

Well said

Sibrah:
they do so primarily by trade deficits. All other means are second.

So you mean a trade deficit of less than 20 billion dollars from 2015 till now is what develued naira by 90% even when diaspora remittance is over 25 billion dollars per year?

sulaak:
Why should a country import stockfish when it is broke? Nigeria has cotton but imports second-hand clothes. Importation and exportation are problems.

You have a problem with comprehension sha

Nigeria has a problem

mrvitalis:
So you mean a trade deficit of less than 20 billion dollars from 2015 till now is what develued naira by 90% even when diaspora remittance is over 25 billion dollars per year?

naira was hitherto subsidized and has since been floated so other major factors too contributed. Dont forget looting has same effect as trade deficit but is hardly accounted for because of the hidden nature.

flokii:
Importation destroys any economy that isn't producing anything for itself and for exports.. the Igbos especially wrecked our economy with their container on high sea and importation mentality. It's the singular reason there are many jobless graduates in Nigeria today, industry sector collapse, zero technological advancements as Nigerians now rely on China and likes to produce the gadgets and all other things consumed in the country.

It's a shame that we have people who still think upside down in this present day and time.

does abok1 produce radios and flashlights

mrvitalis:
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

your container economist analysis can't work for a country.

It could only work for individual or some group, no country will build its economy on it cos reliance on imported goods depreciates n devalues your currency and makes u at d mercy of others.

So importation is how u want to achieve from consumption to production?

victorVIC1:
I would say lack of local production is the major challenge here. Nigeria is lagging behind in the production of products that we ideally should be producing in terms of relative advantage in factors of production.

You can never produce anything in the absence of steady and reliable electricity.

Sibrah:
does abok1 produce radios and flashlights

Nigeria produced lamps, lanterns, torchlights and even batteries back in the days till some people destroyed our commerce and industry sector with importation.
The 419 shouting let's move Nigeria from consumption to production to deceive gullible ones like yourself sells only imported items in his supermarkets.