Duty Hike: "We Are Finished" - Importers, Agents - Business (5)

Duty Hike: "We Are Finished" - Importers, Agents - Business (5) - Nairaland

Nairaland Forum › Nairaland General › Business › Duty Hike: "We Are Finished" - Importers, Agents (36749 Views)

Re: Duty Hike: "We Are Finished" - Importers, Agents by Chukzyfcb(m): 4:21pm On Aug 03, 2016

NameChecker:
I respect your display of maturity in quoting me, unlike those who are born to curse and abuse.

There are Raw Materials in Nigeria, but Untapped
Google "location of raw material in Nigeria" and you will be shocked.
The only issue is that we are scared of investing in them

Scared of Investing in them? Lool are u for real?
Talking aboutt local production is just like preaching enterpreneurship to graduates. Its been overflogged. Its nothing new, its like an anthem to our ears.
Let the foundation be set first by Govt then watch individuals come in. Have you asked yourself why even foreign Investors that can see the raw materials aren't coming through? Its coz the foundation is shaky!

1 Like

Re: Duty Hike: "We Are Finished" - Importers, Agents by Lilimax(f): 4:22pm On Aug 03, 2016

Diablo666:
Please where did you get your statistics from that most of the factories have shut down? cos from what I am seeing, more industries are being built daily most especially in the agro-allied sector. From the production of the crops to the manufacturing of the needed machines. I have seen physically the made in benue tractors. The only masterstroke left is for the government to find a lasting solution to the power deficiency.
Have you read the dangote's story. making of Africa's richest man? in his words “I was into importation, until I realised that I would make much more profit locally producing same things I import“. And thats how he became who is is today. T[b]hose importers should take up the challenge and start manufacturing same things they import[/b] and I bet you, It will be a win-win for everyone

Bros, what are you say?
Take for instance, in Cosmetics and Paints manufacturing Industries, over 90% of their raw materials are all imported.
So where do they start from? Glad you mentioned the issue of Power.
Again , even a pure water manufacturer is affected cos the raw material used for making the packaging of pure water is imported as well.
I rest my case!

2 Likes

Re: Duty Hike: "We Are Finished" - Importers, Agents by NameChecker: 4:25pm On Aug 03, 2016

saintneo:
Your theory is play but how realistic is it.

If a country wants to decrease importation of processed goods so as to improve local production, then it should support production of such goods in the country:
1. By providing electricity 24/7.
2. By providing grants for innovation.
3. By enabling opportunities for certified international manufacturers to operate their facilities in the country.
None has been done by the present regime.

Does Nigeria produce:
Car components in Nigeria?
LCD TV?
LCD TV screens?
NO!

Most of these importers import goods that we don't have the facility to produce. This is just a deliberate attempt by the government to milk the citizens and frustrate the business of importers.

On a personal note, I am working on introducing an electronic product in Nigeria, I have designed and constructed it, but most components were imported. Consequently, my product will suffer from this duty hike and patronage from potential customers will be low because I would like to cover my cost of production and make profit as well.

Basic economics theory will surely fail.

If a ban is placed on importation,
Foreign investors will be forced to invest in Nigeria.
They will begin to manufacture their initially imported product in Nigeria.
Just as Nokia, Samsung and Nissan are currently doing.

Re: Duty Hike: "We Are Finished" - Importers, Agents by Raypawer(m): 4:25pm On Aug 03, 2016

Buy Local Rice!

ernesty20:
Buhari is a sensless dullardic idiot.. Cant believe i bought a bag of rice at the rate of 19,000 naira.. Wicked government

Re: Duty Hike: "We Are Finished" - Importers, Agents by Originalsly: 4:27pm On Aug 03, 2016

If what is said is correct then I strongly disagree with the new tariff being charged for goods imported under the old tariff. Besides that...I strongly agree that importers of goods that can be produced locally, non essential goods and luxury items should be made to pay thru the nose. Watch how many jobs would be created by this step....jobs that can help the economy.....and watch how many jobs would be lost... jobs that hurt the economy.

1 Like

Re: Duty Hike: "We Are Finished" - Importers, Agents by NameChecker: 4:31pm On Aug 03, 2016

[quote author=peak115 post=48154910][/quote]You made my day

Re: Duty Hike: "We Are Finished" - Importers, Agents by Nobody: 4:32pm On Aug 03, 2016

jneutron4000:
Good news. We really need to reduce or if possible stop importation in this country. If a Car imported from western world is fucking expensive then you will go for IVM

On paper shey
The reality is when you hike the duty Nigerians will smuggle foreign cars. Anywhich way no one will buy IVM.

1 Like

Re: Duty Hike: "We Are Finished" - Importers, Agents by CyberWolf: 4:34pm On Aug 03, 2016

Keneking:
This government has failed the economy woefully

What? Keneking the clown shocked

.. Keneking ooooooooooooooooooooooooooooooooooooooooooooooooooohhhhhhhhhhhhhhhhhhhh grin

.. Ntorrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr

Re: Duty Hike: "We Are Finished" - Importers, Agents by Nobody: 4:36pm On Aug 03, 2016

Anyone thinking this hike will wean Nigerians off foreign goods and will make our industries suddenly grow overnight doesnt understand how Nigerians think
With zero infrastructure how are you supposed to manufacture stuff? You cant boast of 20hours of uninterrupted power supply you want industries to produce stuff with what power?
Lets watch and see all this is just unecessary punishment cos nothing will be achieved at the end of the day

4 Likes

Re: Duty Hike: "We Are Finished" - Importers, Agents by rusher14: 4:39pm On Aug 03, 2016

AyaSunday:
Good point but you didn't finish it well.
Have you thought of RAW MATERIALS for local production?
Almost all aspects of production in Nigeria has an imported raw material in it.
Nigeria does not have all the raw materials for production so this post above will only keep increasing the cost of finished goods locally.

If that is the case these "raw materials" would be on an exemption list not so?

Re: Duty Hike: "We Are Finished" - Importers, Agents by Ugosample(m): 4:42pm On Aug 03, 2016

ace05:
My dear, do not just mention China, they sent their best and brightest all around the world and when they had spent about a decade, they came back home. It took over 2 decades of closed boarder with this imported knowledge for them to become what they are. So has 'PMB' (sic) done any of such? The sooner Nigerians understand true governance the better.

Two decades of closed borders shocked

Where did you get that from? huh

Re: Duty Hike: "We Are Finished" - Importers, Agents by jmann2(m): 4:47pm On Aug 03, 2016

Saintp:
Where did you see the made in Nigeria goods? is it the ones produced with generator @ 200/ltr of diesel?

The only sensible post.
Weldone

Re: Duty Hike: "We Are Finished" - Importers, Agents by Nobody: 4:49pm On Aug 03, 2016

Proud GIANT OF AFRICA.. Nation of Limitless and Unending Potential.. Natural Resources and Fertile Women with Fish-brains. a Nation of a Million Scientists and Professors who cannot make a single tooth-pick.. the world 3rd Largest Christian Population, the worlds top 5 Internationally Influential ~~Scammers~~Pastors, the worlds most HAPPIEST ~~blissfully ignorant~~ twerps.. I am soo happy Nigeria is in distress.. may it be a slow and painfully gruesome one.. y'all sat on the fence when trouble was brewing.. now soak in the blood of your predicament.. DIE Slow!

Re: Duty Hike: "We Are Finished" - Importers, Agents by hamilton62(m): 4:50pm On Aug 03, 2016

NameChecker:
The disadvantages of import:
1.Foreign goods are substituting the domestic goods' markets，so the domestic industries (Innoson & Co) are eliminated.
2.Trade deficit will cause the currency devaluation, inflation (Nigeria's Current Problem).
3.The importing of important industries will lose the influence by importing country.

If you still don't understand that the increment is a deliberate measure to discourage importation,
then you know nothing, I repeat, nothing.

***Culled from ECO 101***

let me answer you according to your numbering:
why won't foreign goods substitute the domestic once, where are the shoes your president wears come from; Aba?
No!
So what is the enabling environment that the government is making for investors to come in or encourage domestic manufacturers without stealing from the citizens which is their normal routine?
Don't you think that the domestic industries are dying because of lack of fund and basics like power, good roads etc?
No, you didn't give an indept thought about it before your fingers started running around the keypad or keyboard as the case may be.
Where in the world have you seen monopoly of an economy ecourage diversity and alternative to substitute(scale of preference) which is good for an economy but favoritism and nepotism to enrich themselves further with firms they are patent to?
2. Trade deficit; why won't their be trade deficit since the government sole interest is on crude oil?
Or are you telling me that the cost of non crude importation is more that that of crude the government is encouraging without diversifying and how much have been spent in the north for the discovering of crude especially in the chad basin (not less than 25billion Naira) because the government has no manifesto but to polish the average citizen since they can't stop from stealing from us and making us pay tax even on the act of their theft.
Does the search for crude in the north assure you of a good way to balance trade internationally?
3 you see why some people are myaopic?
How on earth will you arrange your room without first sweeping it?
Charity begins at home they say... What has the government done if not ways to raise fund to be emblezzled or used by them to run their tenure:
from gas,
power rate,
fund for baby industries.
Good roads.
Repair and maintanance of available industries rather they give license for their patent firms to replace the available meaning the government personnels getting richers at the expense of the citizens.
One counts 1 before 2.
So who knows nothing now?
Don't buttress your ignorance on air without thorough thoughts!

2 Likes

Re: Duty Hike: "We Are Finished" - Importers, Agents by nell2: 4:54pm On Aug 03, 2016

Trailblazer1:
Buhari was an evil sent by God to restore our lost sense and bring us closer to Him.
In times like this, you have no other option than to seek succor and solace in God.
I have renewed my relationship WITH God in other to survive this present evil called BUHARI

chaii I don laff tire.nairaland una no go kill me laughter.

Re: Duty Hike: "We Are Finished" - Importers, Agents by hamilton62(m): 4:55pm On Aug 03, 2016

AgentOrange:
http://sunnewsonline.com/duty-hike-were-finished-say-importers-agents/

1 Like

Re: Duty Hike: "We Are Finished" - Importers, Agents by sarutobie(m): 5:00pm On Aug 03, 2016

Keneking:
This government has failed the economy woefully

keneking the grand commander of zombiesm is now sane? hunger has finally come knocking on his door..

Re: Duty Hike: "We Are Finished" - Importers, Agents by back2sender: 5:05pm On Aug 03, 2016

kkboy:
Better. It's a duty call for all to stop importation, and start petronizing made in Nigerian goods and services

Chai you wicked ooo bros.
Una don finish the indonesian firewood people ooo. No more my container dey for high sea dey come.

Re: Duty Hike: "We Are Finished" - Importers, Agents by jose4shizzle: 5:05pm On Aug 03, 2016

The way this country is going, this country might collapse under our very own eyes if care is not taken to put things in places and arrange our own house.

Re: Duty Hike: "We Are Finished" - Importers, Agents by MrTeCO(m): 5:09pm On Aug 03, 2016

NameChecker:
The disadvantages of import:
1.Foreign goods are substituting the domestic goods' markets，so the domestic industries (Innoson & Co) are eliminated.
2.Trade deficit will cause the currency devaluation, inflation (Nigeria's Current Problem).
3.The importing of important industries will lose the influence by importing country.

If you still don't understand that the increment is a deliberate measure to discourage importation,
then you know nothing, I repeat, nothing.

***Culled from ECO 101***

so Nigeria do manufacture most things like laptops which u mainly deal on bah... even phones n other products.... abeg, if they want to do that it should start from them. instead of increasing taxes for all let them decrease their own allocations n allowances.....!

and mainly, we all know the tribe that have the capacity and risks to import into the country. its just a move to silence den financially......#shikena

Re: Duty Hike: "We Are Finished" - Importers, Agents by skyman200(m): 5:14pm On Aug 03, 2016

From the commander in chief

Re: Duty Hike: "We Are Finished" - Importers, Agents by pawesome(m): 5:16pm On Aug 03, 2016

NameChecker:
The disadvantages of import:
1.Foreign goods are substituting the domestic goods' markets，so the domestic industries (Innoson & Co) are eliminated.
2.Trade deficit will cause the currency devaluation, inflation (Nigeria's Current Problem).
3.The importing of important industries will lose the influence by importing country.

If you still don't understand that the increment is a deliberate measure to discourage importation,
then you know nothing, I repeat, nothing.

***Culled from ECO 101***

discourage importation buh do we have dose tins dt we re tryn to discourage Nigerians frm importin ova hia?..u set measures befr eliminatin odas n moreova,if we have dem available.and of.good quality,will we import?

Re: Duty Hike: "We Are Finished" - Importers, Agents by InyinyaAgbaOku(m): 5:17pm On Aug 03, 2016

NameChecker:
The disadvantages of import:
1.Foreign goods are substituting the domestic goods' markets，so the domestic industries (Innoson & Co) are eliminated.
2.Trade deficit will cause the currency devaluation, inflation (Nigeria's Current Problem).
3.The importing of important industries will lose the influence by importing country.

If you still don't understand that the increment is a deliberate measure to discourage importation,
then you know nothing, I repeat, nothing.

***Culled from ECO 101***

Not so fast, we havë not started producing the substitutes of mpst of our imports, so, if you ask me, the end consumers bear the brunt.
that'sso bad

Re: Duty Hike: "We Are Finished" - Importers, Agents by Nobody: 5:18pm On Aug 03, 2016

NameChecker:
The disadvantages of import:
1.Foreign goods are substituting the domestic goods' markets，so the domestic industries (Innoson & Co) are eliminated.
2.Trade deficit will cause the currency devaluation, inflation (Nigeria's Current Problem).
3.The importing of important industries will lose the influence by importing country.

If you still don't understand that the increment is a deliberate measure to discourage importation,
then you know nothing, I repeat, nothing.

***Culled from ECO 101***

It makes no sense. If we had comparative advantage, dont you think we would manufacture those things at home? With virtually no infrastructure, it is impossible and unreasonable to manufacture anything here. It is just better to import

Re: Duty Hike: "We Are Finished" - Importers, Agents by Guk: 5:21pm On Aug 03, 2016

Trailblazer1:
Buhari was an evil sent by God to restore our lost sense and bring us closer to Him.
In times like this, you have no other option than to seek succor and solace in God.
I have renewed my relationship WITH God in other to survive this present evil called BUHARI

When Buhari said he didn't see the logic in devaluation, you said he was evil. He concedes to your request, you now say he is evil. Can you make up your mind please?

Re: Duty Hike: "We Are Finished" - Importers, Agents by Nobody: 5:28pm On Aug 03, 2016

NameChecker:
If a ban is placed on importation,
Foreign investors will be forced to invest in Nigeria.
They will begin to manufacture their initially imported product in Nigeria.
Just as Nokia, Samsung and Nissan are currently doing.

With the current state of the economy, nobody ll invest in this country. You ll only encourage smuggling

Re: Duty Hike: "We Are Finished" - Importers, Agents by ebby9z(m): 5:47pm On Aug 03, 2016

I wonder how people cant see the good in this move. The Yorubas will say [/i] Ti ta riro la n kola[i] . It might be difficult initially but it will have multiplier effect on our economy. Local production will skyrocket. Its very simple economics.

Re: Duty Hike: "We Are Finished" - Importers, Agents by refreshrate: 6:02pm On Aug 03, 2016

Lilimax:
Looking inward, how do we source for the raw materials when most of the industries have shut down

You're responding to a mad person. oh so cos he's typing on Nairaland you automatically assume he's with his senses?

*waiting for adeboye to tell ladies to start ignoring senseless men sha*

Re: Duty Hike: "We Are Finished" - Importers, Agents by refreshrate: 6:05pm On Aug 03, 2016

dicefrost:
With the current state of the economy, nobody ll invest in this country. You ll only encourage smuggling

Most basic of requirements for production which is electricity is not guaranteed and that one is talking as if he understands what he's saying.

My advice? learn to ignore such people

Re: Duty Hike: "We Are Finished" - Importers, Agents by happney65: 6:07pm On Aug 03, 2016

omolola15 una just start nii....You aint know anything..Zoombies oshiii.. grin

Re: Duty Hike: "We Are Finished" - Importers, Agents by no1madman(m): 6:14pm On Aug 03, 2016

Trailblazer1:
Buhari was an evil sent by God to restore our lost sense and bring us closer to Him.
In times like this, you have no other option than to seek succor and solace in God.
I have renewed my relationship WITH God in other to survive this present evil called BUHARI

u dey expect manna from heaven.

Re: Duty Hike: "We Are Finished" - Importers, Agents by Lilimax(f): 6:22pm On Aug 03, 2016

Trailblazer1:
Buhari was an evil sent by God to restore our lost sense and bring us closer to Him.
In times like this, you have no other option than to seek succor and solace in God.
I have renewed my relationship WITH God in other to survive this present evil called BUHARI

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