₦airaland Forum

OfficialAPCNig:
Have you considered what will happen to those #10 that were saved?

Better standard of living, high domestic investments and a more sophisticated economy.

deomelo:
The largest economy in Africa has nothing to offer?

Of course are are not performing optimally, but saying we have nothing to offer beyond oil sounds absurd and ridiculous.

Daejoyoung:
If that is your only fear then it is not a problem, even the Ecowas law is not strong enough to stop Nigeria's protective measures. Get the point, Nigeria would sign this deal, but beyond ink on papers, the implementation of this deal is not well thought out, and Nigeria must restructure itself internally to become export based country with competitive indegineous firms beyond just foreign direct investments from foreign investors.

jomoh:
Is that not the reality?

We don’t have anything to offer and we have not had anything to offer for over 30years. We use the money we get from crude oil to buy everything we need. We can’t even produce what we consume.

PMB now came and ban most of these things from importation that we should start producing locally people are now against him.
The little money we get from crude oil that is not enough to sustain our overbloated population we were using it to import.


Now some people have come up with a strategy again to make nigeria a dumping ground for foreign products and PMB has once again refused.


PMB by far has the best policies that puts Nigeria first in anything. The only shortcoming is the security issue.

OfficialAPCNig:
Have you considered what will happen to those #10 that were saved?

Better standard of living, high domestic investments and a more sophisticated economy.

Will Olympic Milk go out of business? No.

They will restrategise, fix their cost structure and bounce back stronger.

With better production output, they will start making incursion into that mega market.

In the long run, Nigeria still wins.

EternalTruths:
Cheaper goods at the expense of jobs.


That doesn't make economic and security sense.


Switzerland is doing fine because they adopt the policy of Jobs first before Cheaper products.

They don't mind avoiding automatons for the sake of job creation.


Look at how happy they are.

Daejoyoung:
Market size is an important factor but it's not the only thing investors consider for FDI.

deomelo:
The largest economy in Africa has nothing to offer?

Of course are are not performing optimally, but saying we have nothing to offer beyond oil sounds absurd and ridiculous.

EternalTruths:
It is not true that they went to China because of their market size.

Cheap labor and lesser regulations took them there after encouraging China to join WTO( World Trade Organization ).

Daejoyoung:
Largest economy in Africa but we rarely influence the continent economically. Do we have sophisticated manufacturing sectors tailored for exports to the continent besides Crude oil and Nollywood.

phase1:
Buhari will only sign the deal if it will help to import fulani terrorists and ISIS hardliners from Arab muslim countries.

OfficialAPCNig:
I will love to refer you back to your (Economics) theories of investment.

The cheaper but superior goods would lead to increase in loanable funds (savings). I guess you already know this is directly proportional to investment.

So the cheaper goods would lead to more jobs.

OfficialAPCNig:
Try to look at the effect this might have on Nigeria from the side of smuggling?

This is a deal of the century we are throwing under the table.

OfficialAPCNig:
Two questions for you:

So what brought Chinese companies to US?

Are you saying it is cheaper to manufacture in China, then export it back to US for sales bearing in mind that Chinese government will charge export tariff and US government import tariff?

Daejoyoung:
Largest economy in Africa but we rarely influence the continent economically. Do we have sophisticated manufacturing sectors tailored for exports to the continent besides Crude oil and Nollywood.

[/quote]ah! buhari wan spoil this country finish. something wey we go benefit from e no sign so watin e wan sign again[quote]ah! buhari wan spoil this country finish. something wey we go benefit from e no sign so watin e wan sign again

jomoh:
Signing such document will only mean death for our local industries especially with all this Francophone countries that only serves as transfer destinations for French products.

They will just be transferring all products imported from France directly into nigeria the only country that has the population to buy.

Signing such an agreement will never beenefit us especially now that we don’t produce enough products to consume let alone export.

We won’t have anything to export we will only be using our oil money to import goods thereby killing our local industries.



This is not the type of competition nigeria needs. This will be an unhealthy competition because the likes of francophone countries don’t produce anything. They only import from France and Belgium only to look for the economy where they will dump it.

So in essence, Nigerian products will not be competing with other African products but European products indirectly.

South African products are also superior to Nigeria’s so there’s hardly anything we can send to them to buy. Even with tariffs and all, Nigerians will still prefer South African or Europe produced products(francophone). If you now remove the tariffs, It will only be a one way traffic.

EternalTruths:
Pls Read This Below
“It is so expensive to import these raw materials which are not produced in Nigeria.l

mvem:
..guy it won't help our economy...pls research or ask questions before saying otherwise...do u know what it entails

deomelo:
Non oil exports and manufacturing are 2 different things simply because non oil exports means goods and services from agric to manufactured goods.

Many countries in West Africa still depends on our industrial output/export and we earn more from Agric than what many of thee countries earn in total.

Our exports of agricultural products in the first quarter of 2018 alone grew by 63.84.

OfficialAPCNig:
This is exactly the problem Free trade try to solve. The cost of importation would have greatly reduced if their is free trade between Nigeria and the exporting country.

Again, assuming they have access to a market as large as this, they would have produced more of their products and use Nigeria as the base to free access the market.

Since they are shutting down operation, that means we will depend on importation for the products. This will make the product more costly and importers can now at will influence the price.

In summary, assuming they have access to mega market, they wouldn't be shutting down operations today.

EternalTruths:
When the US companies went to China, the Chinese Government ensured that their export were not taxed and also introduced subsidy in US companies taken over by the Chinese in China in order to enable them sell their goods cheaper overseas.


Due to Clinton's administration agreement, so many companies based in China can import into US with little or no import tariff placed on them.

That is why Trump is always attacking the Chinese and wants to undo what Clinton did.

theenchanter:
oga, we're not throwing it under d table, why didn't south Africa sign d pact too?

sagitariusbaby:
“Bishop Oyedepo, Bishop El Buba, Apostle Suleman, Pastor Enenche, Pastor Ibiyeomi, Pastor Paul Adefarasin, Prophet TB Joshua, Pastor Sarah Omakwu and Pastor Polycarp Gbaja. May God bless them for speaking out timely against the carnage going on in the country.

As for E. O. Adeboye and W. F. Kumuyi keep being quiet, posterity will never forget your silence in this trying time for Northern Christians

sagitariusbaby:
“Bishop Oyedepo, Bishop El Buba, Apostle Suleman, Pastor Enenche, Pastor Ibiyeomi, Pastor Paul Adefarasin, Prophet TB Joshua, Pastor Sarah Omakwu and Pastor Polycarp Gbaja. May God bless them for speaking out timely against the carnage going on in the country.

As for E. O. Adeboye and W. F. Kumuyi keep being quiet, posterity will never forget your silence in this trying time for Northern Christians

EternalTruths:
Cheaper goods coming from other African countries wiping off industries will not lead to increase in savings(loanable funds).


The reason is simple

When people are jobless, they can not save.

So, tell me where jobless people will get money to save.?

When they can not save, how will investment increase.?


Ordinary FG hazard allowance of 15k - 30k removed by Buhari, reduced the savings in banks.

EternalTruths:
The first job of a leader is how to,

1) increase money in citizens pockets(which you can achieve through jobs & businesses creation)

EternalTruths:
2) decrease money leaving their pockets ( which you can achieve easily through low tax, low interests, low infrastructural costs, low power etc.)

EternalTruths:
So when people are sacked due to loss of an Industry, where do you expect them to get money to save.?

AreaFada2:
Please list the goods that we can supply to other markets at a cheaper price than local ones? Is it electricity, chickens, industrial goods or which? In a way that we can flood their markets with them considering good quality & lower price?

Being proud and say largest economy is not enough. We're over 3 times in population than the nearest in economy (South Africa) and more than twice in population than Egypt & Ethiopia.

We're talking reality here, not ego.

OfficialAPCNig:
Is this how you analysed that without taking into cognizance the structure of our economy?

I would love to refer you to #StructureofNigeriaEconomy101

You made your analysis without considering Time lag effect and repercussion effect. I would love to refer you again to #IntermediateMicroEconomics.


It is not the function of government to create jobs but policies that will stimulate those jobs. The best way to increase those jobs is by stimulating an increase in Aggregate Demand #AdvanceMacroEconomics


... and cheaper but superior goods. Hence lower inflationary pressure.




So when people are sacked due to loss of an Industry, where do you expect them to get money to save.?
Nigeria have been importing since time immemorial, so which industry have we lost since then?

None.

Time lag effect and the repercussion effect wouldn't allow that to have.

EternalTruths:
OfficialAPCNig


In sound economic practice, you don't import because you want cheaper goods at the expense of local industries but you import because you want to make up for the quantity that your local industries can not produce.

EternalTruths:
So in a sound economic practice, imported goods shouldn't be cheaper than local products but costlier so that the people can buy first the local products and then go for foreign products when local products are no more.

EternalTruths:
Just imagine Kenya cars of #250,000 entering Nigeria against Innoson cars of #1,000,000. Do you think Innoson will be able to sell again in a country filled with poor people.?

EternalTruths:
What is your second question that I did not answer.?