₦airaland Forum

duplicate

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

what effect on the economy?

you should be ashamed that your country is importing toothpick

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

Nice thought you have for an Utopian, ideal world.
Please allow me to ask you how many married couple that you know who WAITED to have all ready and rosy before they wedded
Did they not marry and CONTINUOUSLY work on improving their career and earning capacity?

Time & tide waits for no one!

We can still pay via Naira Mastercard, paypal, we really dnt have to buy dollar, let the banks convert this.

Now, GTB i buy 225 and they sell to me at 199

nymphomaniac:
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

You are a kid,if u know the implications of what all those junks imported to this country does to our economy u will STFU

insure1:
Considering its ripple effect on the economy, I'd say well done and weldone!

By the way, I don't know if lalasticlala would think this informative enough for importers on the frontpage but I dedicate this space to users of this pure definition of a stylish aura... Lalique!

Check my signature

You are marketing imported product yet support the CBN's restrictions. Is that not hypocritical?

A you have experienced imports generates wealth so nothing wrong in them.

The problem is when you are not exporting. The CBN's policy is wrong and should be condemned in its entirety

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

Lol. Forget farmland, there are some vegetables that can't thrive/grow in Nigeria

chesterlee:
Efulefu!

That's ur family name ba? Oponu

anonimi:
Nice thought you have for an Utopian, ideal world.
Please allow me to ask you how many married couple that you know who WAITED to have all ready and rosy before they wedded
Did they not marry and CONTINUOUSLY work on improving their career and earning capacity?

Time & tide waits for no one!

This is a country made up of 200 million fellows with different ideologies, ethics ,ethnicity n religion. n not a marriage made of two people who agree on everything.
So I don't get ur point. U may wish to compare it to something similar. N not marriage. Thank u.

No wonder alot of students can't pass a simple exam in this nation. Almost everyone on this thread...and I mean almost, don't even understand the difference between being removed from buying dollars from the CBN directly and being outright banned as an import good into the country!
I don't even want to get into the effects of this new CBN policy on consumers but if cement price jumps to 4k a bag or sardines turns to 1k a tin.....make una no shout PMB name!!

ibkgab001:
Ruler, pencil , crayon and imagine plates


Bottled water .... Pawn crackers

you just made me to go over the list over and over only to realize you did not even read it before posting.

Thanks for the info

grandstar:
You are marketing imported product yet support the CBN's restrictions. Is that not hypocritical?

A you have experienced imports generates wealth so nothing wrong in them.

The problem is when you are not exporting. The CBN's policy is wrong and should be condemned in its entirety

These items are not restricted. Modes of payment for them on the foreign exchange window is what was restricted, so they may approach burea de change to transact.

Get yaself a cool fragrance today brother

kwaraguy:
Lemme check the list

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

This does not need an economist to explain the implications.
Take for instance, you & your neighbor sell locally made pencils but because of imported products packaging ,your neighbor sells far more than you do... just deduce the resultant effects for me

I posted a link earlier, and we where far behind, but now we are leading, thanks to those who have voted. if you are just seeing this, a foundation that has been giving employment to unemployed youths in Nigeria have been nominated by the UN for an award, the group is leading now and other groups are in pursuit so Nairalanders 'west African vocational education ' wave is still seeking your vote, click on the link and scroll down and click on west African vocational education wave and then vote, make a Nairalander proud, make a Nigerian proud, vote! http://www.easypolls.net/poll.html?p=55c24da2e4b0e200525f890b

When employers come to Nairaland.com and see the level of comprehension of the Nigerian youths it will simply reinforce their view that they are unemployable. Simple economic policy they can't comprehend it's like they have been cloned to complain.

Simply put. THERE IS NO BAN ON ANY PRODUCT. Isn't that clear? Your currency is sliding down because of the dollarisation of the economy and you guys are talking about the price of your imported shit. You all complaining should be ashamed of yourselves.

"But there's no light no water no this no that no shit no smell... No... " wait there will be light and water when the naira is 1000 to a dollar.

insure1:
Countries all over the world, developed and under-developed import. But place restrictions on strategic items/industry that has considerable ability to impact/effect the economy juxtaposing it with the current policies being executed.

If you study the list, you can tell specific areas targeted are food, metal/ore and a few other that can drive/hinder local growth of such industries.

Can whoever appended his/her signature on the restriction say he/she hasn't used or doesn't still use imported items?
If I trade in fragrances and it gets a ban, it might even spur me to get loan/waiver on some oils and chemicals from same govt to start my own brand and begin production...

Its a win-win.

Countries don't become rih by becoming self sufficient. They do so by focusing resource where they have comparative advantage. Look at the petroleum sector for instance. If the country had 5 sectors like that, Nigeria will be a developed country.

those things that are imported are not pauperizing us. They make the country richer.

Making fragrances is not the issue. Those who prosper from it also export it.

Tommy Hilfiger may make shirts in Bangladesh for $5 but sell it for $30 or more. The money at times is in the marketing.

Iphones are probably made for less than $50 in China but retails for 7 times that figure in America.

The fact of the matter is that some of the items listed are used as mere smokescreens for round-tripping/foreign exchange arbitrage and/or money laundering.

Those individuals and companies involved in round-tripping would simply move on to other items not yet included in the official forex exclusion list.

chesterlee:
Buhari wants to destroy this country!

ow?by stopping the importation of what we have or what we can produce ? We shud be the ones exporting.

All we do in Nigeria is politics and oil jobs.

grandstar:
Countries don't become rih by becoming self sufficient. They do so by focusing resource where they have comparative advantage. Look at the petroleum sector for instance. If the country had 5 sectors like that, Nigeria will be a developed country.

those things that are imported are not pauperizing us. They make the country richer.

Making fragrances is not the issue. Those who prosper from it also export it.

Tommy Hilfiger may make shirts in Bangladesh for $5 but sell it for $30 or more. The money at times is in the marketing.

Iphones are probably made for less than $50 in China but retails for 7 times that figure in America.

My business is to make sure you smell great, so walk into a good store around you and pick a fragrance up for yasef bro or chat on whatsapp for recommendation?

lovemoi2:
what effect on the economy?

you should be ashamed that your country is importing toothpick

na WA for u o aunty... It's clear u top the list of those who do not understand what d op is saying... Wetin concern my post with Nigerias importation of tooth pick?

erico2k2:
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

I can see your angle of reasoning....if your father is a farmer, you can still decide not to eat proceeds from his farm because your friend whos father is a teacher always buy yam.

babamoha:
On what are you suing him for?

Suing him for unlawful overtaking

even toothpick em. dis country na really pooo! with all d smart we say we smart ? I see Nigeria foolish but think dey are d must smart ppl on earth!

sleek2tap:
I will say a welcome development. Time to sharpen my agricultural know-how

I like your thinking oga. (seeing opportunity where others see doom)

lovemoi2:
what effect on the economy?

you should be ashamed that your country is importing toothpick

So the UK Germany and US the import it are mad abi?

tkcosby02:
I can see your angle of reasoning....if your father is a farmer, you can still decide not to eat proceeds from his farm because your friend whos father is a teacher always buy yam.

It has to do with demand and supply plus over heads.I shall give e yoy another example Greece is the highest producer of Olive in the whole world but their Olives have to be taken to Germany to mill it to Olive Oil reason being it's cheaper to mill there than Greece. So the Oil frm Germany is cheaper than the one in Greece. What one would toy buy?.another example China and the rest of the world.why do yoy think Samsung and Nokia have to buy made in china battery for their phone.

shadowgwalker:
ow?by stopping the importation of what we have or what we can produce ? We shud be the ones exporting.

All we do in Nigeria is politics and oil jobs.

Read and be wiser.PMB did not stop any import. Read again.he only withdrew the support of forex for those Item.is this so hard to understand?

Peterwins:
The fact of the matter is that some of the items listed are used as mere smokescreens for round-tripping/foreign exchange arbitrage and/or money laundering.

Those individuals and companies involved in round-tripping would simply move on to other items not yet included in the official forex exclusion list.

You nailed it on the head.That's the real reason.it has nothing to do with import as dollars are ever ready.

rottenegg:
No wonder alot of students can't pass a simple exam in this nation. Almost everyone on this thread...and I mean almost, don't even understand the difference between being removed from buying dollars from the CBN directly and being outright banned as an import good into the country!
I don't even want to get into the effects of this new CBN policy on consumers but if cement price jumps to 4k a bag or sardines turns to 1k a tin.....make una no shout PMB name!!

And they shout change.see why we have people who will go to an employer and have no value to add.Shame to any one here who went to second day school and still holding the goods ban. View.you lot aught to refund monies back to ur parent.

anonimi:
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

Just to add to what you said.the guy who built the biggest hydro-power plant in china.I have forgotten the name of the dam actually died b4 it began working in 1950.so like you said.we have to Co tine the projects initiated dead are the days when o e president would Co. E I to office and cancel all projects o going by the immediate past govt.