₦airaland Forum

seguno2:
Thanks to the positive impact of a devalued naira curbing exports and forcing us to look inwards for our needs, which leads to exporting the excess capacity.
Nice time to be an entrepreneur and skilled artisan or technician.
I am very sorry for those carrying paper certificates around claiming and forming graduate. Hunger never fire them wella.

Even graduates will eventually benefit when the economy begins to create more jobs. Entrepreneurs will have to employ people ready and willing to work as their capacity expands.

maclatunji:
No, it is you that is working....

Come and beat me, I'm at home

maclatunji:
Even graduates will eventually benefit when the economy begins to create more jobs. Entrepreneurs will have to employ people ready and willing to work as their capacity expands.

Graduates with value-adding competence and knowledge as opposed to those with entitlement mentality based on their worthless paper certificates that they can hardly defend.
Yes for those ones.

IdeyFindWife:
;Dweyrey

Unemployment also rose to 14% and this scary 2017 budget with its loopsided misplaced priorities don't look like it can effect any miraculous turnaround speedily enough

Govt has to disengage from their constant d!ck-stroking and face the realities on ground before election-season comes when, as we all know, they won't even hear us anymore again anyway.

Do we have a 2017 budget?
Has it been signed by Buhari or for Buhari by the presidency cabal?
If it is not signed, then we don't have a budget. Sorry.

Truth234:
Nigeria’s total trade in the first quarter of 2017 stood at N5.30 trillion, the National Bureau of Statistics (NBS) has said.

The nation’s exports in the period under review stood at N3.01 trillion compared to imports of N2.29 trillion, with a trade balance of N719.38 billion.

The NBS stated that imports fell by 0.9 per cent, adding that the country recorded an increase of 6.5 per cent in external trade.

According to the NBS, the value of the total trade at the end of 2016 was N17. 35 billion, stressing that the figure was 6.5 per cent higher than the value recorded in 2015.

The report, however, stated that Nigeria’s external trade in the fourth quarter of 2016 was valued at N5.28 billion.

“The export component stood at N2.98 billion while the import component stood at N2.31 billion leading to a trade surplus of N671 billion.

“Trade by sector showed that crude oil exports had the largest share of the total trade, accounting for N2.43 billion or 45.9 per cent trade in fourth quarter.

“The second major contributor to total trade by sector was manufactured goods with N1.17 billion or 22.1 per cent of total trade,’’ it stated.

The report stated that manufactured goods were followed by the non-crude oil products, which was also a major contributor to total trade in the quarter under review.
“The non-crude oil products stood at N1.15 billion or 21.8 per cent while Agricultural goods accounted for N212.7 billion or 4 per cent.

“Raw material goods accounted for N309 billion or 5.9 per cent and Solid mineral goods stood at N13.1billion or 0.3 per cent of total trade in the quarter.’’

The report stated that Nigeria’s export intensity in the months of October, November and December 2016 was the highest for South Africa with export intensities of 8.9, 7.3 and 4.1, respectively.

Export intensity in the fourth quarter was also intense with India recording export intensities of 5.8, 5.8 and 1.7 for the last three months of 2016.

“ Spain and Netherlands also had high export intensities with export intensities of 4.8, 2.9 and 2.0 for Spain and 2.2, 1.5 and 2.2 for the Netherlands.

“Although United States was one of Nigeria’s major trading partners, its export intensity was low with 0.6, 0.6 and 0.2 for the last three months of 2016.’’

Meanwhile, the report stated that Nigeria imported mainly from China with total imports of N404.1billion or 17.5 per cent of total imports.

It stated that China was followed by Belgium with N356.46 billion or 15 per cent while import trade with Netherlands which was the third highest was valued at N230 billion or 10 per cent.

“ The remaining trading partners contributed relatively lower proportion of the total import trade.

“United States accounted for N205.6 billion or 8.9 per cent while India accounted for N113.9 billion or 4.9 per cent,’’ the report stated.

http://investorsking.com/nigeria-records-positive-trade-balance-exports-rise-to-n3-01tn-in-q1/

Lol, remove crude export and give the the statistics again, Lemme know if we're making any real progress.

9japrof:
If these statistics are correct, then it's commendable cos it is a known fact that with the exchange rate to the dollar high, it's a boom for exporters to earn more local currency from foreign exchange.

I think the focus should now change to encouraging the youths to be export minded. Sometime in 2013/2014, massive tutorials were made by Ymodulus, shinaf, dav8id, 2sexy, chemashie and a whole of others that I can't remember their handle on how to import from China, those tutorials changed a lot of lives and made them super independent today.

Now the tides have turned, will those massive tutorials on how to export to europe, Asia and the Americas pop up. Nairalanders abroad should champion this cause, not cos of self pity but out of patriotism.

There are lot of government agencies that I know and have attended their workshops in the past who are willing to assist and support with funds and data to make you succeed.

One love...

CBN is targeting a convergence of N300/$, so you can kiss the urge by exporters to ramp up in the beginning of the year staying same.

N400/$ would have been a sweet spot, but a certain brief person thought otherwise.

With exchange rate at N300/$, it'll be deja vu again for importers.

-Lord

greenermodels:
how can we have a positive balance of trade while the major world currencies are seriously depressing the naira.the exchange rate is not reflecting the report above, I'll wait for a report from a more credible source.

A week currency encourages export that why China manipulates its currency.

9japrof:
If these statistics are correct, then it's commendable cos it is a known fact that with the exchange rate to the dollar high, it's a boom for exporters to earn more local currency from foreign exchange.

I think the focus should now change to encouraging the youths to be export minded. Sometime in 2013/2014, massive tutorials were made by Ymodulus, shinaf, dav8id, 2sexy, chemashie and a whole of others that I can't remember their handle on how to import from China, those tutorials changed a lot of lives and made them super independent today.

Now the tides have turned, will those massive tutorials on how to export to europe, Asia and the Americas pop up. Nairalanders abroad should champion this cause, not cos of self pity but out of patriotism.

There are lot of government agencies that I know and have attended their workshops in the past who are willing to assist and support with funds and data to make you succeed.

One love...

9ja prof. Would you mind talking in private? There is a commodity from the southwest that i'd like to export in large quantities to europe (where i live). Market potential is insane bro. I would love every info you can give regarding the agencies, funds and datas.

THANKS

The export of other products other than oil reduced drastically owing to the policy of this administration. For instance, how can you ask an Exporter who manages and sourced his products from local farmers in the village with series of procedures and documentation not to withdraw his export proceeds from Nigerian Export Proceeds Account rather they asked the banks to buy the dollars at bank rate making many of the Exporters to make loss and so many closing shops. So if the Government is to be sincere with themselves, they should abolish such policies like that of NXP Account opening. It is a fraud and way of shortchanging Exporters of their hard earned money.

It is foundation of gej government that this malu government with its normadic fiscal policies.

Manufacturing index is the key, we should stop self deception of thinking we can develop by exporting extractive products

austinvsb1:
9ja prof. Would you mind talking in private? There is a commodity from the southwest that i'd like to export in large quantities to europe (where i live). Market potential is insane bro. I would love every info you can give regarding the agencies, funds and datas.

THANKS

my email is on my profile, send me a mail and lets take it from there

Wonderful development! Youths rise up and think; take advantage of the stormy economy. Look on the brighter side.

(1). When the exchange rate is high and hence the hike in prices, locally produced one experience high patronage
(2). Exporting local products will make you an unbelievable amount of wealth
Wise up guys, think about things beyond alcohol, drugs, women (or men) football/movies, etc

9japrof:
If these statistics are correct, then it's commendable cos it is a known fact that with the exchange rate to the dollar high, it's a boom for exporters to earn more local currency from foreign exchange.

I think the focus should now change to encouraging the youths to be export minded. Sometime in 2013/2014, massive tutorials were made by Ymodulus, shinaf, dav8id, 2sexy, chemashie and a whole of others that I can't remember their handle on how to import from China, those tutorials changed a lot of lives and made them super independent today.

Now the tides have turned, will those massive tutorials on how to export to europe, Asia and the Americas pop up. Nairalanders abroad should champion this cause, not cos of self pity but out of patriotism.

There are lot of government agencies that I know and have attended their workshops in the past who are willing to assist and support with funds and data to make you succeed.

One love...

please i have an idea in the exportation line. please can you help me with the contact of these agencies that can provide one with funds

9japrof:
If these statistics are correct, then it's commendable cos it is a known fact that with the exchange rate to the dollar high, it's a boom for exporters to earn more local currency from foreign exchange.

I think the focus should now change to encouraging the youths to be export minded. Sometime in 2013/2014, massive tutorials were made by Ymodulus, shinaf, dav8id, 2sexy, chemashie and a whole of others that I can't remember their handle on how to import from China, those tutorials changed a lot of lives and made them super independent today.

Now the tides have turned, will those massive tutorials on how to export to europe, Asia and the Americas pop up. Nairalanders abroad should champion this cause, not cos of self pity but out of patriotism.

There are lot of government agencies that I know and have attended their workshops in the past who are willing to assist and support with funds and data to make you succeed.

One love...

Boss, I am 2sexy lol. I got banned for more than 10 years or thereabout by seun himself. That is by way. The export information is not readily available like importation information.

I wish there was a way to find buyers directly, send them an email, make arrangement after much discussions, you guy can strike a deal... that would have made things a bit easier. I would love to go into it but the information is limited in a way. Those who truly know these things do not want to let it out, i mean those who really earn a living doing it. while those who share information are just marketers looking for readers of their ebook... it is a mess.

2sexycom:
Boss, I am 2sexy lol. I got banned for more than 10 years or thereabout by seun himself. That is by way. The export information is not readily available like importation information.

I wish there was a way to find buyers directly, send them an email, make arrangement after much discussions, you guy can strike a deal... that would have made things a bit easier. I would love to go into it but the information is limited in a way. Those who truly know these things do not want to let it out, i mean those who really earn a living doing it. while those who share information are just marketers looking for readers of their ebook... it is a mess.

Honestly your assertions are correct, its a pleasure to know you are still here on nairaland. Please do keep in touch, hopefully soon we would find a way to get the issue sorted

9japrof:
Honestly your assertions are correct, its a pleasure to know you are still here on nairaland. Please do keep in touch, hopefully soon we would find a way to get the issue sorted

Not a problem sire. I am very much around. Though since that ban, I have formed the habit of existing under different monikers so right now, I have as much as 15 handles that I operate lol.. but he 2sexy brand is still in existence.

Ymodulus has left the importation business as he is now in another realm entirely. He still comes around though except he does not post as much as he used to, only when necessary.

Lots has changed.