₦airaland Forum

Well, i guess building new companies who can produce exactly d same products n encouraging nigerians to use them before placing a ban on these products would ve been d best. So atleast we ve an alternative .
Just placing a ban may result in inflation.
My thoughts tho

efilefun:
You no get brain at all, your brain should have informed you banning this items which can be easily produced in Nigeria will further strengthen the economy.

Efulefu!

Good move. Time to develop our country

nymphomaniac:
90 percent of people who commented above me don't understand what the op posted and it's effect on the economy.

There are many illiterate on NL thanks to politics and paid praise singers...

That's why its hard to read sensible and enlightened comments from NL when compared to foreign websites..

tkcosby02:
Am sure the only thing we dont import in Nigeria is citizenship. Our politicians, profs, royal fathers are all imported. So its not surprising we are importing meat, fish, tootpick, even peppe and tomatoes.... Meanwhile the poster above me stole my portion, meet me in the supreme court, im suing you for unlawful possession

Every country in the west import everything U just listed even tooth pick gets imported into the UK. Meat gets imported.fish as well.tin tomatoes gets imported into the UK from Morocco same as sadin

Thanks OP for the post. I'm bookmarking it right away for reference purpose.

ellechrystal:
Well, i guess building new companies who can produce exactly d same products n encouraging nigerians to use them before placing a ban on these products would ve been d best. So atleast we ve an alternative .
Just placing a ban may result in inflation.
My thoughts tho

NO IMPORT BAN read again plz

nymphomaniac:
sorry o but I can't eat made in Nigeria sardine. Some things are not just meant to be produced in Nigeria. Our hygienic standards have to Improve

What makes you think the imported products are hygienic

obinnajr:
WE ARE BANDING WHAT WE CANT PRODUCE. EVEN IF WE CAN PRODUCE THEM, THE COST OF DIESEL CONSUMPTION AND INSTABILITY OF LIGHT WILL MAKE THE COMODITY TO BE AS COSTLY AS GOLD. I PRAY THIS CHANGE WE PRAY FOR WILL HAVE A POSITIVE IMPACT IN OUR LIFE.

Gbam.
They should ve created an avenue where people learn how to produce these stuffs, increase power supply which affects production n productivity, work on d transport system to reduce cost of transport, then BAN!!!

VickyRotex:
You think sey na only African Spinach be vegetables

Even though..... farm land don finish for here ni?

JeffreyJamez:
Them dey import Vegetables again!!!!

not pumpkin leaves (ugu). And the likes, na vegetable fruit ooo

Good development, we need to export more than we import to save the Naira.

jsea:
Toothpick...........but why on earth should we import stupid things?? even the Turkey if u see how its being preserved.............My God All we want is the "FAST CHANGE"

na chinese toothpick, now broom own....am not surprised when I saw palm oil importation, those that allow such import are very very silly

Importing palm kernel? When we have them wasting for Abule Seriki. Na lie, they aren't importing them dem just they use the avenue for money laundering.
They laundered our money under the disguise of importation to cause serious capital flight and leakages.
Govt. should ban the importation of the listed items to block the loopholes.

Most pf the items can be produced locally except private jet/planes.

Investors, opportunities are here for you to take advantage of and start producing these items here in Nigeria.

ellechrystal:
Gbam.
They should ve created an avenue where people learn how to produce these stuffs, increase power supply which affects production n productivity, work on d transport system to reduce cost of transport, then BAN!!!

By the time your suggestion is done $1 = ₦700..

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ForcefullBULL:
correct

Everything should not be correct in your eyes.

Think deep and pray they soften ground. If not, in a matter of 4 months, the heat will get to every Nigerian.

Let the FG create alternatives before ban. Do we have factories here to meet the immediate demand of our population? Do you know what it means to source dollar out there just like that?

Well, good luck to Nigeria.

insure1:
...but I dedicate this space to users of this pure definition of a stylish aura... Lalique!

Check my signature

just acquired this...the bottle is so heavy and cool.

Yes I am happy for this ban on sardine and geisha untill they increase it to 3 per tin

VISTIN:
Everything should not be correct in your eyes.

Think deep and pray they soften ground. If not, in a matter of 4 months, the heat will get to every Nigerian.

Let the FG create alternatives before ban. Do we have factories here to meet the immediate demand of our population? Do you know what it means to source dollar out there just like that?

Well, good luck to Nigeria.

They weren't banned from entering Nigeria but banned from FOREX market

Rubbish,it would only make these importers source for forex from the parallel market and bring these goods in which in turn would become more expensive and cause further inflation.Rice for instance is a stable meal consumed by most families.By the time the importer sources from forex in the parallel market,then pays duty.How much would the bag of rice cost?The solution should have been to place an outright ban on these items and look at increasing local production.For instance how do we get abakaliki rice,zamfara rice in large quantitiess to sustain the local demand?The government needs to come up with a mid term and long term plan to sustain local production of those items which have a high demand for forex,as this would not only sustain the local demand,it would create employment for the large unemployed youths,it would also provide a platform to dominate the african market.All what they are doing now,as far as I am concerned is rubbish

bayulll01:
You are one of the most fooliish person on earth,somethings are not meant to be produced in this country,is it not better to stf if u gat nothing meaningful to say,this indomie kids on Nl self

I am not a child... I would have entered an E-War with u. It's clear you are intellectually insolvent Sha. Otherwise you won't type the thrash u just typed

tkcosby02:
Am sure the only thing we dont import in Nigeria is citizenship. Our politicians, profs, royal fathers are all imported. So its not surprising we are importing meat, fish, tootpick, even peppe and tomatoes.... Meanwhile the poster above me stole my portion, meet me in the supreme court, im suing you for unlawful possession

On what are you suing him for?

anonimi:
Good move but should be COMPLEMENTED with very high import duty tariff to aggressively promote local production and create EMPLOYMENT.

Which electricity are they going to use to run the factories? I know many people in diaspora eager to invest in food processing. Many have gone home to research the market. Despite good prospects, cost of production especially due to cost of generator fuel makes it unfeasible.

Nice move. I got mad when I learnt even at this age and time we still import toothpick.......


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GodMode:
What makes you think the imported products are hygienic

thank you for this sound question... Not like the idiot that quoted me earlier. I have reason to believe the imported products are more hygienic for a number of factors. Firstly, they are not 'profit to the detriment of their citizens' oriented.... This can be seen by how effective their FDA's are compared to our NAFDAC. 2ndly, they do not let corruption eat deeply into salient sectors of their country like health n agriculture unlike us... We can improve, but until then, our producing these things will do more harm than good

GodMode:
There are many illiterate on NL thanks to politics and paid praise singers...

That's why its hard to read sensible and enlightened comments from NL when compared to foreign websites..

Why frequenting NL? Go to your foreign website jare, Prof.!

kwaraguy:
Lemme check the list

Modified: Let an economist explain the implication maybe it's positive or negative

The CBN is trying to make the importation of these items a lot more expensive for the importers, since they now have to source for Forex from the 'underground' market.

The ultimate aim is to encourage local manufacturing of these particular set of items, which will create employment in the process. The CBN has already met with Manufacturers Association of Nigerian (MAN) to explain the rationale of the policy to them and to encourage them to take advantage of the opportunity that will be created by the supply gap. Remember, local production usually suffers when the cost of importation is lower than the cost of local production.

The negative implication is that these items will become expensive in the short term due to high import cost. However, in the long term, when local manufacturers have ramped up production, prices should fall back again - with the extra benefit of job creation. Central Bank monetary policies are usually a balancing act - there is always a tradeoff of some pain for a greater good.

The other benefit is that this will ultimately reduce demand for foreign exchange, leading to a strengthening of the Naira and an improvement in Foreign Reserves.

nymphomaniac:
sorry o but I can't eat made in Nigeria sardine. Some things are not just meant to be produced in Nigeria. Our hygienic standards have to Improve

Must you eat imported low class fish?....must you eat fish laying in a can for maybe years?.... are you allergic to fresh fish?...or local fish? Your hygienic fish would still be available. .. just that you would have to pay through your nose. @topic...I do agree with most... why import what can be easily produced or is available locally? ...and also think he should slap a high tariff on the same items. But then again....why allow all the foreign car companies to set up assembly plants locally?...that I don't get.

Bevista:
The CBN is trying to make the importation of these items a lot more expensive for the importers, since they now have to source for Forex from the 'underground' market.

The ultimate aim is to encourage local manufacturing of these particular set of items, which will create employment in the process. The CBN has already met with Manufacturers Association of Nigerian (MAN) to explain the rationale of the policy to them and to encourage them to take advantage of the opportunity that will be created by the supply gap.

The negative implication is that these items will become expensive in the short term due to high import cost. However, in the long term, when local manufacturers have ramped up production, prices should fall back again - with the extra benefit of job creation.

The other benefit is that this will ultimately reduce demand for foreign exchange, leading to a strengthening of the Naira and an improvement in Foreign Reserves.

Best analysis so far.

AreaFada2:
Which electricity are they going to use to run the factories? I know many people in diaspora eager to invest in food processing. Many have gone home to research the market. Despite good prospects, cost of production especially due to cost of generator fuel makes it unfeasible.

Where others see obstacles an optimistic entrepreneur sees an OPPORTUNITY to make money and create auxilliary opportunities for others in his society.
What electricity do you think Guiness, NBL, Cocacola etc use for their breweries & bottling plants?

This is where the very high import tariffs come in to PROTECT our local industries as we work on improving the electricity sector and other peripheral needs for FASTER industrialisation. BTW, our electricity sector is on the verge of turnaround based on the policy initiatives of the past administration.
No pain, no gain, bro!

I am not sure that China, Korea waited for ALL things to be ready before they started their massive industrialisation journey several decades ago, or did they