swtdrms:
This is good news for the indigenous manufacturers, its high time everyone think of what he can produce and create employment. Am already thinking in the direction of high quality shoe production. Who's going to be my business partners.

swtdrms:
This is good news for the indigenous manufacturers, its high time everyone think of what he can produce and create employment. Am already thinking in the direction of high quality shoe production. Who's going to be my business partners.

tuale4u:
Local production and local goods are getting boost

chigoizie7:




Sharp guy. Na only wrist watches be my own, Ee de too chop my money.

I wan ask oh, all these fabrics used in making boxers, jersy and co, and d leather used on used wares, are they locally made in naija?

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.

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...

erico2k2:

Simple Economics,it's cheaper to get it from china to thier shop than getting it from Kano .take MAF for example it's cheaper to get it from china than Nigeria..So we need strong economic policies like tax breaks to help.

ayoola2002:
Thank u my broda, my Almighty God bless ur brain, hope some mumu way dey cry because of Dollar can learn here.
#spendnairaandleavedollar

ayoola2002:
Thank u my broda, my Almighty God bless ur brain, hope some mumu way dey cry because of Dollar can learn here.
#spendnairaandleavedollar

ODVanguard:


Yes bro. Hopefully this will stimulate a more sustainable patronage of local goods. This dollar scarcity is presenting a silver lining for some afterall.

trendytrendz:
have you taken into account the lack of educated labour in Nigeria? I know of a Chinese company that started producing carpet in Nigeria but closed up the business later cause importing from China was far cheaper and sustainable, I haven't seen light in 1wk, how do u expect a massive factory to power their machines? With generator?? All the world over, as at yesterday, Italy was complaining of losing the fabric market to china because it's simply cheaper to produce in china, do you produce more clothes than Italy? Nigerians just come to talk about local production without knowing every single bit about it, we will still need to import Chinese expatriates to teach us how to run and service the same machine they sold to us, so what are you producing locally if even expertise is imported? Why don't you have a Nigerian construction company handling most construction projects around Nigeria just like Julius berger or ccecc are doing. So I want to ask you, if you import fabric like cotton, and still import the machine to make the cloth but only assemble the cloth in Nigeria, are you really producing locally?/

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

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.

ken4jj:


Manufacturing is not moimoi like people look at it. The cost of doing business in this country is too high and that is why importation is even flourishing. The world is now a global village. What you manufacture in Nigeria should be competitive with the rest of the world. If it cost N100 to produce a product here and it cost N50 to bring it to the nigerian market from elsewhere, which one will consumers want?
For example, i have worked in manufacturing companies and it came a time when our manufacturing cost was compared to our 8 other branches in Asia, Europe and South America and we found out that our cost per carton was 3 times more expensive than the nearest one. The Global top directors were contemplating reducing our capacity here in Nigeria and increasing the ones in Asia so that the can produce a part of our volumes and ship to us. i do not know how it went because i left shortly.
What i'm trying to say is that the most important issue for our manufacturing here is lack of supporting infrastructures. I remember our yearly energy budget was so high because of diesel and Gas. So until we can compete in cost with the rest of the world, forget it we can not make headway in manufacturing because it will be too expensive and importers will take advantage of it to bring cheaper products. But if our cost of production can compete with others, importation will die a natural death as it will be cheaper to produce locally. Why do you think that American Companies are flooding China? It is because it is cheaper to produce in China due to their low cost of labour. Will you say Americans in China are not patriotic? The loyalty of a business man lies in his profit and not sentiments. The earlier we fix our infrastructures,they better.

ratiken:


That guy is right. You are thinking like Buhari who believes the economy is only about crude oil dollars. Communication, automobile, ICT, finance sectors have key investors whose forex were domiciled in Nigerian banks. Those monies are all gone as nobody is furthering investments.

swtdrms:
This is good news for the indigenous manufacturers, its high time everyone think of what he can produce and create employment. Am already thinking in the direction of high quality shoe production. Who's going to be my business partners.

ozor1:
the statement was over exageratted , but thats the truth most people dont know about. after jp morgan delisted nigeria, investors withdrew their money . getting fresh investors now would be difficult

Aufbauh:
This is how the fall of naira will herald the rising of Nigeria.
It is logical that when there is scarcity of FX, we will have no option than to look inward.... #BuyNaijaToGrowTheNaira

Arcard:
na still import u go import am, way dm naija engineers

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

ZeroTolerance:
I hate this SE/SS of a thing. Isnit necessary to always add the South South?

BALLOSKI:
are we going to stop existing if we don't have these so "important" goods? Do you know how the likes of Cuba , Libya , Iran , survives in the face of western sanctions? Do you know Palestinians are living in an enclosure, and are still surviving? We couldn't manage our wealth in times of excesses , we should get ready to suffer while trying to get it right.


NB: below is what the policy is trying to achieve- a perfect result is the testimony below.

NgwaManNaija4LF:

They are our blood brothers and sisters, take it or hang.

afroxyz:
My problem with most Nigerians is that they don't see this as a huge business opportunity to be tapped into. We are still crying dollar when we are supposed to be thinking about how to benefit from the scarcity of foreign products by manufacturing indigenous alternatives

oduastates:


There are thousands machine fabricators in Ibadan . If they are familiar with the machine , then good let them build . If not , import . The CBN is funding the importation of machines and spare parts.

mrmetoo1:


This JP Morgan thing is one of those things that I think some folks hope we'll forget quickly. You know the delisting was supposed to be done early 2015, it was only extended because they didn't think it'll be fair to welcome a new government with that. This wasn't a decision they made because of the new government. Then I'm sure the decision to delist beginning of the year didn't happen all of a sudden. It's something they review over a long period before they take their decision. They didn't start the review in May and all of a sudden delist in September. They actually just gave a six month extension.

Sunnypar:

Let's talk Steve the dancer@ gmail.com