₦airaland Forum

Seun:
True, but the problem isn't importation; it's the lack of exportation of goods apart from oil. Every strong nation imports, but you must also export.

You are still saying the same thing I'm saying but from another angle.

From what I said earlier, if we produce our own needs we wouldn't need to import goods to meet our needs. From the goods we produce we will then export them.

I can't wait for this to seriously affect importation of frozen chicken so my people can buy locally processed foods

GenOrumov:
You are still saying the same thing I'm saying but from another angle.

From what I said earlier, if we produce our own needs we wouldn't need to import goods to meet our needs. From the goods we produce we will then export them.

What we are saying is very similar but there's a subtle distinction which I think is very important, and policy makers are missing. The fall of the naira is a double-edged sword. The increased cost of importation is a disadvantage while the increased profitability of exportation is an advantage. It will deliver a net benefit to us if and only if we export more. Instead of seeing importation as a bad thing which should be reduced, I see it as a good thing which should be increased, but we can't afford to increase it unless we increase our exports dramatically.

Seun:
What we are saying is very similar but there's a subtle distinction which I think is very important, and policy makers are missing. The fall of the naira is a double-edged sword. The increased cost of importation is a disadvantage while the increased profitability of exportation is an advantage. It will deliver a net benefit to us if and only if we export more. Instead of seeing importation as a bad thing which should be reduced, I see it as a good thing which should be increased, but we can't afford to increase it unless we increase our exports dramatically.

Sorry to derail. Please what's the email for adverts enquiry? Thanks!

naijaboy756:
why are you staining Nairaland with copy and paste? What did God give you brains for? Must u copy someone's analysis and paste it over NL as if you understand what is been said?

You don't know Ademusiwa?

Amen and you too

emzila:
GOD BLESS YOU AND ALL GENERATIONS THAT WILL COME OUT OF YOU.

egopersonified:
I can't wait for this to seriously affect importation of frozen chicken so my people can buy locally processed foods

First there's need to have a processing plant

HtwoOw:
Official CBN rate is 197 as at this morning




Without foreign reserve, Naira will continue to fall




OH and thanks to GEJ who chose to loot / share Nigeria's foreign reserves

Why continue to wallow in ignorance. If you hav a dollar bill will you sell at 197 or the current black market rate. Or if your brother wants to sell to you will he sell at 197 or the current black market rate
Bro, the true value of the naira is what is been traded in the black market. Don't wait for an official pronouncement that the naira has been devalued.FG is obly subsidizing dollar for a few. Use your brain.

egopersonified:
I can't wait for this to seriously affect importation of frozen chicken so my people can buy locally processed foods

As I have been saying, this is not a good thing per se, because it makes chicken more expensive for everyone. I dont know how to explain.

rexel99:
Why continue to wallow in ignorance. If you hav a dollar bill will you sell at 197 or the current black market rate. Or if your brother wants to sell to you will he sell at 197 or the current black market rate
Bro, the true value of the naira is what is been traded in the black market. Don't wait for an official pronouncement that the naira has been devalued.FG is obly subsidizing dollar for a few. Use your brain.

Yep.

You want me to use my brain ? Well i did

First off , there's no way you can get dollar because it's been banned from circulation

secondly , first sentence magnanimously destroys any opportunity to sell in black market

Thirdly Parralel market is not the same as black market


Fourthly Please connect your brain to your sense

rexel99:
Why continue to wallow in ignorance. If you hav a dollar bill will you sell at 197 or the current black market rate. Or if your brother wants to sell to you will he sell at 197 or the current black market rate
Bro, the true value of the naira is what is been traded in the black market. Don't wait for an official pronouncement that the naira has been devalued.FG is obly subsidizing dollar for a few. Use your brain.