EU Lifts Ban On Beans Exportation From Nigeria. - Agriculture (3)

EU Lifts Ban On Beans Exportation From Nigeria. - Agriculture (3) - Nairaland

Nairaland Forum › Nairaland General › Agriculture › EU Lifts Ban On Beans Exportation From Nigeria. (15837 Views)

Re: EU Lifts Ban On Beans Exportation From Nigeria. by sonnie10: 7:36pm On Nov 18, 2016

paulbets:
i have heard this analogy before, it sounds somewhat true. but then i have wondered, if Dangote sold a bag of cement for N2000 when exchange rate was N200 to a $, don't you think the same bag will sell upto N3000 when exchange rate is anything around N450 to a $. Because even in this current economic situation in Nigeria, cost of local productions have increased, thereby making some locally produced commodities to cost more than before. This thought has always been my reservation about benefits of weaker Naira. Although i will like to understand more behind it.

You are not far from the truth. When Naira was #200/$1 a bag of cement was #1450. As at today, a bag of cement is about $2250. So what ever benefit weak naira portrayed was cancelled out by increase in price.

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Re: EU Lifts Ban On Beans Exportation From Nigeria. by paulbets: 7:40pm On Nov 18, 2016

sonnie10:
You are not far from the truth. When Naira was #200/$1 a bag of cement was #1450. As at today, a bag of cement is about $2250. So what ever benefit weak naira portrayed was cancelled out by increase in price.

Exactly. That's my thought too.

Re: EU Lifts Ban On Beans Exportation From Nigeria. by samsard(m): 7:52pm On Nov 18, 2016

MrMcJay:
You should be sacrificed to appease the god of foolishness.

Why being so harsh on the guy, isn't he stating a fact (even if it's not the whole picture).

Re: EU Lifts Ban On Beans Exportation From Nigeria. by mfm04622: 9:26pm On Nov 18, 2016

BIDOO:
well i believe you are saying this base on paper work not in reality ! Are you kidding me? , Don't you know that those business men you see up there ain't loyal to tax payment? That is where they enrich themselves the more! Mention any european country you know that have ever place an order for dangote cement? Or our neibouring

Dangote has been selling his cements from Benin, to Togo to Ghana even when Naira was stronger. Fact!!!

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Re: EU Lifts Ban On Beans Exportation From Nigeria. by mfm04622: 9:29pm On Nov 18, 2016*

BIDOO:
well i believe you are saying this base on paper work not in reality ! Are you kidding me? , Don't you know that those business men you see up there ain't loyal to tax payment? That is where they enrich themselves the more! Mention any european country you know that have ever place an order for dangote cement? Or our neighbouring country that are suffering from currency devaluation you expect to make such order?

All our neighbours' currencies are pegged to the Euro!!! All our neighbours use the CFA which is pegged to the Euro. So their currency is much stronger than Naira

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Re: EU Lifts Ban On Beans Exportation From Nigeria. by rafcrown(m): 5:01pm On Nov 19, 2016

BOKO HARA activities in the NORTH would have affected this kind of beans business.

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