SLIDEwaxie:
u shld increase ur sinking capacity and think wider.

1. it is impossible for every trader to still have the goods of almost 3 months on ground...unless u're a petty trader.

2. if it finishes...people will improvise. only the super rich will be able to afford the average things by then.

if a fake razor blade (Nigerian made) is sold for 5 naira, and imported tiger blade is sold for 20naira (current price), who wld buy the 20naira own unless they are rich enough?

in a nut she'll, the average Nigerian is more then the rich ones, those who prefer to import will be left at the mercy of the rich ones while the larger masses goes for the indigenous.

sooner or later, some average trader will stop importing because they will be unable to sell as quickly as they shld.

then the company in China will loose customers and decides to open a company here where the original blade will be sold for 10naira. then someone with the will of adenuga of GLo mobile will open a razor blade company and sell at 6naira...

that is where it all starts...

DeAfricana:
i think the writers a trying to make us believe that dolar scarcity, is good for our
economy but, the truth of matter is, the other way round.first
we dont have the factories, that can service ordinary
one tenth of our needs,and to solve that we needs more dolars for equipments
and other things.many of all this people you see going to other city to buy goods,
is not that those citys, are industrialized,the are just going to people who still have old stocks,
and when that finishes, the will have no choice than to start importing .and inflation we be the order
of the day

DeAfricana:
i think the writers a trying to make us believe that dolar scarcity, is good for our
economy but, the truth of matter is, the other way round.first
we dont have the factories, that can service ordinary
one tenth of our needs,and to solve that we needs more dolars for equipments
and other things.many of all this people you see going to other city to buy goods,
is not that those citys, are industrialized,the are just going to people who still have old stocks,
and when that finishes, the will have no choice than to start importing .and inflation we be the order
of the day

chigoizie7:



U made some cool points, like u said, always think ahead right?

Do u think the dolar hike will remain like this till the end of the year? If YES, good, it also have some disadvantages(lets leave that out for now)

If NO, which means it will still normalise.

When it normalises, what will be d fate of those manufacturers when our ECOWAS neighbours and their ports and borders are open?

Owing to the fact that we so much love foreign good, thus the campaign, #buynaijatogrownaira.


U gave razor blade as an example, knowing fully well that thousands of other commodities are on the list and the ones no one produces here, weda aba made or fake as u mentioned.


All the same, u ve a nice point, but until FG makes a policy/law to back these intending manufactures, nothing will go right. Even have to cut their policy on the ECOWAS free trade, it will still affect us, because even when we start producing, we need FX on exported goods.

oduastates:

We do not have factories, Abi ? Build them then

SLIDEwaxie:
In all my posts, I prefer using the razor blade as a common sense example. it shld be very simple to ingest.

that was because someone was complaining and blaming the govt for the increase of tiger razor blades from 10naira to 20naira, instead of being ashamed that we still import razor blades!!!!


the items that were banned were the ones that could be produced and sourced right within Nigeria (as far as a learned).

imagine we import frozen turkeys and chickens!!!

we import textiles and leathers!!!!

let us be sincere, the price of dollar shldnt be our concern even if it is 2000 to a dollar by year end. thinks produced within the country can never be that expensive.


go buy chicken from mama chuckwu's poultry, kill and eat!!!

go buy leather shoes from aba, or from that cobbler down ur street and wear.

go buy Nigerian Ankara and not England or London wax...

as a youth, start producing razor blades...let us start exportation and people will have to convert their currencies to naira before they cld buy from us.

the economics is simple...I jes hope many will understand.

Ecoterrorism:
Let the local manufacturing sector enjoy but we are still in a deeper poo

chigoizie7:



U don't get it do u? I am exactly with you on your points.

Without Govt policy all these economics won't work.aint we nigerians?


I support bruce in #buynaijatogrownaira. But that is not enough without proper policies and control measures.

asha80:
To be honest I understand what slidewaxie and oduastates are saying

Let me use the leather industry for example the shoes being made in aba are done with leather up to 70% china instead of Nigerian leather..why the fccuk do we have to import leather to make our shoe when hides and skins from cattle can be transformed to leather needed for making of these shoes? Instead the of transforming those cattles hides to leather it is burnt and turned to kpomo! We go die if we no chop kpomo? Kpomo self is not nutritious to start with.

HiddenShadow:
It is time the Igbo technological ingenuity witnessed during the war takes over Nigeria local production and make the SE/SS the industrial hub of Nigeria.

HiddenShadow:
It is time the Igbo technological ingenuity witnessed during the war takes over Nigeria local production and make the SE/SS the industrial hub of Nigeria.

SLIDEwaxie:
u shld increase ur sinking capacity and think wider.

1. it is impossible for every trader to still have the goods of almost 3 months on ground...unless u're a petty trader.

2. if it finishes...people will improvise. only the super rich will be able to afford the average things by then.

if a fake razor blade (Nigerian made) is sold for 5 naira, and imported tiger blade is sold for 20naira (current price), who wld buy the 20naira own unless they are rich enough?

in a nut she'll, the average Nigerian is more then the rich ones, those who prefer to import will be left at the mercy of the rich ones while the larger masses goes for the indigenous.

sooner or later, some average trader will stop importing because they will be unable to sell as quickly as they shld.

then the company in China will loose customers and decides to open a company here where the original blade will be sold for 10naira. then someone with the will of adenuga of GLo mobile will open a razor blade company and sell at 6naira...

that is where it all starts...

egopersonified:
I don tell my Tailor to go airport road go look all those imported gowns and tops make she go sew the exact replica, she nor dey hear word.

Flets:
Acute Forex shortage is not due to crude oil prices like Buhari and his minions will want us believe.

The biggest cause is the massive capital flight that followed Buhari's lack of economic direction. Nigerians are not aware that investor funds contribute over 60% of our forex supply.

Buhari's cluelessness and dumb attitude towards economy made investors pull their funds out. He further placed monetary policies that caused panic in the investor environment. The plan to fund the national budget with MTN fine was the final nail on investors funds.

Buhari is solely responsible for the very poor state of the economy.

sinkhole:
Is it only fabrics and food we need in Ngeria? what about machineries that we do not produce in Nigeria, what about all the essential electronics that are imported from China and Co?

Flets:
Acute Forex shortage is not due to crude oil prices like Buhari and his minions will want us believe.

The biggest cause is the massive capital flight that followed Buhari's lack of economic direction. Nigerians are not aware that investor funds contribute over 60% of our forex supply.

Buhari's cluelessness and dumb attitude towards economy made investors pull their funds out. He further placed monetary policies that caused panic in the investor environment. The plan to fund the national budget with MTN fine was the final nail on investors funds.

Buhari is solely responsible for the very poor state of the economy.

mrmetoo1:


Ah!! 60%?? Lmao!! Where are you getting your information? Abeg what were they investing in that all of a sudden they pulled all that 60% back. What are the policies that caused that much panic that investors pulled 60% of our forex earnings?? Who are the investors? Bros no need to just be mischievous oil makes up 80% of our forex earnings, oil prices has gone to the toilet, forex now scarce... simple. What we need to focus on now is how we create more forex earner avenues.

NavierStokes:
So where do the markets in Lagos, Kano etc. get their goods from?

tuale4u:
Local production and local goods are getting boost