₦airaland Forum

AreaFada2:
No it doesn't to the extent of USA that has a rich large population. 70% of Nigerians live on less than $1 a day. Nigeria that cannot provide

My investment would is giving back. Not because I need proceeds from it to live.

Unlike your "political idols" who steal money from Nigeria to store abroad, reasonable Nigerians actually earn money abroad and bring to Nigeria.
In any case, I was persuaded by Jonathan#'s agric drive to farm in 9ja. Buhari's people have now put a stop to that.

I wonder why you people have such issues with Igbo people. If you hate them that much, let them have their own country.

By the way I am not Igbo & I have nothing to do with Ipob.

deomelo:
[s][/s]



Not interested in your ignorant and anti Nigerian ipob regurgitation.

OfficialAPCNig:
Mr Learned, will you invest in a 1.2 billion market or a 180 million market?

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.

ghostmist:
Isn't it time to prop up our local industries to take over markets in those other countries?

We claim to be the giant of Africa, yet we are unable to dominate smaller African countries. Nigeria ought to be the china of Africa.

lilfreezy:
Deal that will benefit Nigerians more than any African country buhari will not sign. He is more interested in a deal for Fulanis from other African countries that will give them access to lands in the middle belt. Nigeria is a country that kills its citizen, the country is an enemy of progress.

The way Nigeria is now, if Oyibo bring ship to start shipping people to the Europe/America for slave trade, people will be struggling to enter.

IBBG:
Lol. the mistake with most graduates especially in this country is their narrow prespective in life. They tend focus only in the area they graduate from, disregarding other areas. My profession is in the medical field, but i've also cultivated interest in economics, entrepreneurship, philosophy, politics, entertainments, sports, agriculture, ICT, civil engineering etc. i may not be a specialist in these areas, but i study them to atleast have a general knowledge about them and have some basic form of understanding when discussions are made about them. Morever i want to become an investor, even though i don't have the money now, i can atleast read up on the various industries, you never can tell when an idea can pop up. So the problem with most Nigerian graduates is that they are not versatile. they only focus in their area of expertise neglecting other areas.

OfficialAPCNig:
The fact we don't have doesn't mean we don't have the capacity.

Do you now see why I said you are as dumb as Buhari?

Stop being stupid, there are a lot of franchise businesses in Nigeria. It is not just the francophone countries.

I don't blame you. I blame the school you graduated from

Have you heard of Factor Equalisation, do you understand what Repercussion Effect is in Economics?

With this common market now, there will be 2 mega markets in Africa, AU's 1.2 billion Mega Market and Nigeria's 180 Million market. Which market do you think Investors would love to access?

We would conquered Africa if our 180 Million market can access that 1.2 billion market. Foreign Investors would use Nigeria as a base to access that AU market.

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.

"Our industries cannot compete with the more efficient and highly technologically driven industries in Europe."

https://www.cnn.com/2018/04/06/africa/nigeria-free-trade-west-africa-eu/index.html

shizzy7:
Yes, it was actually Olusegun Aganga and Adesina that propagated it at first before MAN took it up. Buhari would have signed before flipping through any page.

Daejoyoung:
Still you haven't shown why my analysis is wack. Who says Ghana is doing the right thing at the moment? only time will tell.

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.

somehow:
And which companies will employ these people who will then get paid to pay for the #20? Seems you don't understand as GNP work.

somehow:
And which companies will employ these people who will then get paid to pay for the #20? Seems you don't understand as GNP work.

Association of Ghana Industries against Africa free trade pact



The Association of Ghana Industries (AGI) says the ratification of the African Continental Free Trade Agreement (CFTA) by Ghana will expose the country to a flood of foreign goods from African countries.

It, therefore, questioned why Parliament was swift to approve the agreement which could dwindle revenues from import duties, because imports from Africa would not be liable to pay duties.

“Every revenue Ghana is getting from imports from Africa is going to be eroded, because importers could bring in anything to Ghana. Even if they are made in Europe, you just take them to any African country and bring them to Ghana to avoid the payment of duties,” it stated.

The agreement, signed in Kigali, Rwanda on March 21, 2018, is a trade agreement among 44 African Union (AU) member states with the goal of creating a single market and a single currency union.

Reduced revenues

At a breakfast meeting organised by the Trades Union Congress (TUC) in Accra last Thursday, the President of the AGI, Dr Yaw Adu-Gyamfi, said: “We know the white people are smart in bringing goods through other African nations, and that is what is going to happen to Ghana.

“Even the small revenue the government is making is going to reduce as soon as the 22 African countries ratify the CFTA,” he added.

The meeting allowed representatives from the TUC, Ghana Employers’ Associations (GEA), AGI and the Ghana Chamber of Mines to discuss ways labour and the private sector can form bipartite relations to address unemployment and the poor quality of existing jobs in Ghana.

Nigerian lessons

Dr Adu-Gyamfi indicated that the CFTA had been approved by Ghana and Rwanda, adding that: “We did so because we want the secretariat of the CFTA to come to Ghana, but having the secretariat does not create jobs.”

He argued that Nigeria, a country with a population of more than 150 million, refused to ratify the agreement and rather blocked its market to imports of foreign goods such as rice and fruit juices, a measure that had led to the closure of nine rice factories in Thailand.

“The Nigerian government insists that those who want to import rice must find their own dollars to bring in rice to Nigeria and as a result, 95 per cent of rice eaten in Nigeria is home-grown.

Cut dependence on IMF

The Secretary-General of the TUC, Dr Yaw Baah, reiterated the union’s call for Ghana to end its dependence on the International Monetary Fund (IMF), which he blamed for contributing to the economic woes of the country.

He called on industry and labour to join forces to help Ghana end its IMF programme, pointing out that until “we show our muscle together to get IMF out, the IMF officials are the only people our government will listen to and not the private sector, which is the engine of growth.”

https://www.ghanaweb.com/GhanaHomePage/business/Association-of-Ghana-Industries-against-Africa-free-trade-pact-659297

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

OfficialAPCNig:
Are you sure you even know what GNP means?

Shallow Economist.

EternalTruths:
He is more concerned about cheaper products rather than job creation.

Nowenuse:
I joined the thread lately and see the manner at which yourself and SalamRushdie have been propagating your ideas.
No doubt, you guys have a good point about your 'Nigeria having access to 1.2 billion market'. But one question I would love to ask you guys, have you guys analyzed the nature of that market you are talking about?

Do you know that 44% of all internet subscribers in Africa for instance are Nigerians?

Nowenuse:
Do you guys know that about 40% of all the middleclass citizens of Africa are Nigerians?

Nowenuse:
Yes, there is a large market in the entire Africa, but this market is overwhelmingly dominated by poor and rural citizens who may have no need for Innoson's cars or other Nigerian products you think would heavily sell outside Nigeria.

Nowenuse:
What we are saying is that, compared to what Nigeria has to offer or gain from this deal, other African countries who heavily repackage foreign products which are superior to Nigerian products have more to gain.

Nowenuse:
Many of these countries heavily invest in production and their govts are more serious in that sector and are ready to invest so much in it compared to Nigeria.
In Nigeria we do not even have stable power for industries to run in the first place. How can we compete? (/quote)
Liberalizing will force us to compete, the same way we are enjoying the Telecom sector.

Do you know how many people that were calling for OBJ's head prior to that deregulation?

[quote author=Nowenuse post=69087550]I guess you guys know Dstv of course, it is the largest and most common satellite television of Africa. It is owned by SA. Guess what? 40% of it's active subscribers are Nigerians.

Nowenuse:
Nigeria is only 15% of Africa's population but check out a lot of statistics which are somehow indicative of wealthier citizens, you will observe that Nigeria is either 40 or 50% of Africa.

Nowenuse:
Africa, especially Sub saharan Africa has less to offer us than we have to offer them.
North African countries which are a bit better in standards of living are quite racist against sub saharan Africans. These people can easily ignore or boycott our products for superior European/Asian ones while Nigerians on the other hand swallow their products cos we are gullible.

Nowenuse:
Had it been that there existed a far larger middle class population outside Nigeria in other African countries, especially sub saharan Africa, then of course, a free trade will be beneficial to us.
We cannot accept countries who are hoping to use Nigeria's large market as a source to alleviate the poverty of their own people or make their elites richer (as the endemic corruption case in Africa is).

mvem:
...i will in the later if the prognosis shows better result than choosing the former

jomoh:
I give up on your matter. Whatever floats your boat. Atleast 180million minus you will be grateful it wasn’t signed.

Nukilia:
We are not going to be prosperous by being a consumer only nation! The country will go down gradually.

EternalTruths:
I searched but I didn't see you answer.

Can you give me your answer to this questions below



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.?

Do you think Innoson will be able to create more jobs if his industry close down.?

somehow:
No i don't know, you tell me since you don't mind if the local manufacturing companies die off. Let's see who's truly shallow.

OfficialAPCNig:
That is why I called you shallow economist.

When OBJ deregulated the telecom industries, Nitel died off but other companies came in creating more jobs than Nitel will ever imagined.

Influx of courier services killed NIPOST EMS, but they created more jobs than NIPOST will ever imagined.

When private operators entered the aviation industry, Nigerian Airways died, but the new entrants created more jobs and better services than Nigerian Airways would ever imagine.

Compare NK running a closed economy with South Korea.

Liberalization will not kill us, but will strengthen us.

somehow:
OMG. Using a local market policy as example for inter-market policy? chai.. I go up. i can't waste my effort on someone like you.

OfficialAPCNig:
When I call you shallow economists, some people will think I am being too mean.

FYI, domestic policies shape foreign policies.

I am done with you till tomorrow. Right now, I am celebrating PDP taking over the NA.

somehow:
Please enjoy your folly. Thank God all your comments are on the public domain for economics to check on.
I guess the association of manufacturers in Nigeria were so stupid to have protested against the government signing such pact.

Even the former and currently ministers of trades and investments also kicked against the signing, maybe you know more than them.

Once more, enjoy your folly.

CSTR1005:
I believe buhari is the worst leader in the world, but a free trade agreement is not a good deal for us.

We don't have power, or infrastructure as a selling point.

Our greatest strength is our market size, and we can't allow Chinese companies in Ethiopia, and European firms in North Africa to flood our country with cheap goods.

Nigeria should do the gritty hard work of development on its own.

It is just a shame the president is not smart enough.

OfficialAPCNig:
Don't drag me into your madness again.

Do they know more than the Father of Economics Adam Smith?

Are they more sensible than Maynard Keynes?

MAN are protesting for their selfish interest. They don't want competitions.

You people are so myopic. Shallow economists.

I supported the government rejection of the EPA, but not this. AU just created a trading bloc that should have been led by Nigeria but Dullards in high places missed that opportunity.

The AU common market is capable of over 765 Trillion worth of annual trade.

It has the top 10 performing African countries in Consumer Class growth.

I guess you don't even know what that means.

Shallow Economist.

SalamRushdie:
With a population of 180 million and the untapped potential to be Africa first mega economy Nigeria was naturally poised to be the greatest beneficiary of this free trade pact but our anachrone president is more interested in reenacting and chasing some 18th century vision of uthman Danfodio .... this is the sad reality ..At this stage Nigeria should be planning on who to conquer the entire African economy and not planning on how to conquer small middlebet belt tribes in the name of some archaic religious script