SillyMods:
Disgraceful youths.

Buhari has proved to be wiser and smarter than our so-called economists who know nothing about practicals but theory.

Many times Buhari has floored them on economics matter:

1. During the debate to fully float the Naira against the president's position not to do so, Buhari was eventually proved correct by attaining exchange rate stability without floating the currency.

2. PMB, against noise and wailing banned access to 42 items including toothpicks to save dollars. Today, most of those items are locally produced thereby creating local jobs and increasing wealth for the entrepreneurs who took adantage.

This time, the best president in Nigeria's history says that in a bid to encourage local food producers and make them competitive, the CBN should not provide dollars to food importers. Wailers and wailing zombies are masturbating and bringing up voodoo economics to tell us why it is wrong for the president to say/do so. Please tell us how best to encourage local production if not by making them more competitive? How can people produce locally if the imported goods remain cheap or slightly dearer?

Una no get sense I swear. And this senseless thinking is being led by a wannabe presidential candidate who was a deputy governor of CBN when GEJ sacked Sanusi. The idiot stood by GEJ. He was also alive when Jona the fisherman was ordering Emefiele to release billions of dollars for looting (in the name of fighting insurgency) but kept quiet.

IPOBites and sense are words and their opposite.

You want Nigeria to be like China, Korea, Japan, etc, but you don't want to take the hard decisions! Hypocrites and unpatriotic souls.

Hope u know dt Farmer–herdsmen crisis has forced lots of agriculturist out of their farmlands. How do u nw attain food sufficiency when d producers are being discouraged from producing?Even d herders are being attacked by cattle rustlers.First things dey say comes first.
#shalom

safarigirl:
After increasing poverty rate, the next thing is to make sure half the country starves to death.

Buhari is doing so much to reduce the world population, he should be commended

He is a demented scallywag

SillyMods:
Disgraceful youths.

Buhari has proved to be wiser and smarter than our so-called economists who know nothing about practicals but theory.

Many times Buhari has floored them on economics matter:

1. During the debate to fully float the Naira against the president's position not to do so, Buhari was eventually proved correct by attaining exchange rate stability without floating the currency.

2. PMB, against noise and wailing banned access to 42 items including toothpicks to save dollars. Today, most of those items are locally produced thereby creating local jobs and increasing wealth for the entrepreneurs who took adantage.

This time, the best president in Nigeria's history says that in a bid to encourage local food producers and make them competitive, the CBN should not provide dollars to food importers. Wailers and wailing zombies are masturbating and bringing up voodoo economics to tell us why it is wrong for the president to say/do so. Please tell us how best to encourage local production if not by making them more competitive? How can people produce locally if the imported goods remain cheap or slightly dearer?

Una no get sense I swear. And this senseless thinking is being led by a wannabe presidential candidate who was a deputy governor of CBN when GEJ sacked Sanusi. The idiot stood by GEJ. He was also alive when Jona the fisherman was ordering Emefiele to release billions of dollars for looting (in the name of fighting insurgency) but kept quiet.

IPOBites and sense are words and their opposite.

You want Nigeria to be like China, Korea, Japan, etc, but you don't want to take the hard decisions! Hypocrites and unpatriotic souls.

You have said good points but Sanusi was removed because of corruption.

[s]

MachadoPreto:
False!

[/s]

I can see now clearly everybody supporting Buhari are animals they can't just reason as human being anymore, God will punish all of you one by one, you will never see good things in your life awon were olori buruku gbogbo

majamajic:
why dis man is so clueless ,

he is not putting our population into consideration

we are the highest producers of rice , still we need to import rice too cos of population

only rice they eat in Lagos alone ,

Tell me the food that you've eaten so far this month that was imported?

Pistotita:
I don't know why people aren't happy with this action of Mr. President. To me, it's a good move. If he doesn't do this, we will keep importing everything. At least, we need to move to producing over 80% of the food we consume. He is not saying he is banning it, but just not making it attractive so it can force us to go into local production.

bros the question is,are we ready to start producing...??its been proven so many times that young nigerians are not ready to go into farming...the unavailability of sustainable working environments in Nigeria is our greatest setback...when bases set,foundation laying becomes juicy ...this would only encourage hike in depended foreign product like rice....me and you no dey chop afada rice,,na imported one we dey chop....even dangote rice,is only packaged in Nigeria...the main stuff is still imported..

[s]

majamajic:
why dis man is so clueless ,

he is not putting our population into consideration

we are the highest producers of rice , still we need to import rice too

[/s]

You are importing because its easier and cheaper. But that same importation is destroying the economy and ensure that the agricultural sector never achieves its potential. Its common sense, no need for insults

nwakibie3:
By Bamidele Samuel Adesoji - August 15, 2019

President Muhammadu Buhari gave a new directive to the Central Bank of Nigeria (CBN) to stop providing FOREX for food importation. According to the President, the directive was given to improve agricultural production and attain full food security in Nigeria.

The President reportedly said, “The Central Bank of Nigeria should stop providing foreign exchange for importation of food into the country, with the steady improvement in agricultural production, & attainment of full food security.”

Implications of the President’s Statement

Note that rice and other items make up the 43 items earlier placed under FOREX restriction. Hence, the latest announcement is apparently a follow-up to the recent move by the CBN to restrict FOREX for milk importation.

Following this, If all food items are declared ineligible for FOREX during importation, it means that importers will no longer have access to the Investors & Exporters Window (I&E) for foreign currencies required to carry out transactions.

Consequently, the investors will have to source their own FOREX by patronising bureau de change or other sources. This comes at a higher cost and the implication is that consumers will be made to bear the brunt of the extra costs incurred by the investors.

On the flip side, the President also stated that Nigeria has recorded steady improvement in food production and attained full food security. This suggests that the President is of the opinion that Nigeria has attained food self-sufficiency, thereby making food importation unnecessary.

A look into Nigeria’s Agricultural sector

According to Food and Agriculture Organization (FAO), although agriculture remains the largest sector of the Nigerian economy, employing two-thirds of the entire labour force, production hurdles have significantly stifled the performance of the sector.

FAO further revealed that the main factors undermining production of agricultural products include reliance on rainfed agriculture, smallholder land holding, and low productivity due to poor planting material, low fertilizer application, and a weak agricultural extension system, amongst others.

- As a result of the several factors inhibiting the growth of the sector, food remains one of the major commodities currently being imported into Nigeria.

- As it stands, Nigeria occupies a tripartite position. FAO reported that Nigeria is the continent’s leading consumer of rice; the country is one of the largest producers of rice in Africa and simultaneously one of the largest importers of rice in the world.

- Livestock development is an important component of Nigeria’s agriculture sector with abundant social and economic potentials. However, 30% of live animals slaughtered in Nigeria are imported from neighbouring countries.

Food Importation Statistics

A close look into the National Bureau of Statistics (NBS) foreign trade report shows that Nigeria still imports food items that gulp trillions of naira. According to the Bureau, between 2015 and 2018, Nigeria imported food and beverages estimated at N5.46 trillion or $17.8 billion. As at first quarter of 2019 only, Nigeria’s food and beverage importation stood at N389 billion or $1.2 billion.

- A further breakdown shows that Nigeria’s food imports are categorised into primary (raw) and processed. In Q1 2019, industries imported N196 billion worth of raw food, while households imported N87 billion.

- For processed food, industries imported an estimated N82 billion worth of food items, while household consumption of processed food was put at N110 billion.

- This means that a total of N389 billion was spent on both industrial and household food importation in Q1 2019.
According to the NBS, food items largely imported into Nigeria include prepared foodstuffs, vegetables, animals, vegetable fats and oil, other cleavage production and beverages.

Some concerns

Mixed reactions have continued to trail the directive. While much emphasis has been placed on whether the move is an apparent breach of the CBN’s independence or not, some have asserted that the announcement might worsen the economy as Nigeria has neither achieved food security nor sufficiency.

Reacting to the policy, a former Deputy Governor of the CBN, Kingsley Moghalu, reacted that the issue isn’t whether or not CBN should allow access to Forex for food imports. According to him, it is about whether such an economic policy should be imposed by a political authority. Moghalu said, “Our economy will not be saved by Ad Hoc political decisions like this, handed down by the very institutions that should be shielded from the whim and caprice of politicians.

“Nigeria’s entire economy appears to have been sub-contracted to our Central Bank, including industrial and trade policy. In the process, the economy has fared poorly, and the Central Bank has lost its independence. This is sad!”

The downsides

No doubt, Nigeria’s agricultural sector is full of potential and there is a large room for growth. While the current administration has introduced several policies to help improve food security, not much progress has been recorded and the government should address this.

- According to global hunger index (GHI) 2018, Nigeria ranks 103 out of the 119 qualifying countries with a score of 31.1. This means Nigeria suffers from a level of hunger that is very serious.

- A closer look at GHI report shows that Nigeria is worse off in hunger index between 2000 and 2018.

- Nigeria’s fragile economy still manages to import more Agric. products than export. This means that the current domestic production cannot meet demands.

- While FOREX restriction on food importation is laudable, the government needs to carefully work on the gradual implementation of the policy in order not to heap more misery on the economy.


https://nairametrics.com/2019/08/15/buharis-food-importation-ban-could-drag-the-nigerian-economy-into-misery/

all these grammar just to frustrate the policy, I think the government should put more policies in place including a 100 percent tax free policy make sure it is sustained, encourage NiGs to take advantage as the gvt had done then place a 100 percent ban on importation of agric products in that 4tysomething category including it sales in local market and regulate the prices of locally produced agric products, this would force us to start buying what we produce, a gradual process had been applied but it's not working let's give radical process a try

we have the capacity to produce almost all agricultural products we consume but previous administrations refused to pay attention now that bu is paying attention I support him

but security wise nba plus release member of the press under your captivity they are not criminals

SillyMods:
Disgraceful youths.

Buhari has proved to be wiser and smarter than our so-called economists who know nothing about practicals but theory.

Many times Buhari has floored them on economics matter:

1. During the debate to fully float the Naira against the president's position not to do so, Buhari was eventually proved correct by attaining exchange rate stability without floating the currency.

2. PMB, against noise and wailing banned access to 42 items including toothpicks to save dollars. Today, most of those items are locally produced thereby creating local jobs and increasing wealth for the entrepreneurs who took adantage.

Lol he didnt floor anyone. The economy is weak, unemployment rate been steadly increasing and the inflation rate still double digits. You guys refuse to make sense. In one breath you want to save forex but them burn through billions in defending naira. Then you have ban dozen of item then place forex restrictions.

Minjim:


Tell me the food that you've eaten so far this month that was imported?

dont mind them....fee dee fee is not the problem....people supporting them is the problem....

i mean seriously....since when is producin food a problem....??

Blue3k:


Lol he didnt floor anyone. The economy is weak, unemployment rate been steadly increasing and the inflation rate still double digits. You guys refuse to make sense. In one breath you want to save forex but them burn through billions in defending naira. Then you have ban dozen of item then place forex restrictions.

what the hell are you talkin about....??

foreighn reserves has been steadily increasin not decreasin....

are you not happy about that....??

their is no reason to import stuff that you can produce here....

to hell with your basmati rice,to hell with your pizza from london....

This man looks mentally ill to me. A nation of 200 million governed by a barely literate old man suffering from senile dementia is a disaster waiting to happen. . . .

What does illiterate Buhari know?

Everything the bigot does is to improve the economy of the north..

SillyMods:
Disgraceful youths.

Buhari has proved to be wiser and smarter than our so-called economists who know nothing about practicals but theory.

Many times Buhari has floored them on economics matter:

1. During the debate to fully float the Naira against the president's position not to do so, Buhari was eventually proved correct by attaining exchange rate stability without floating the currency.

2. PMB, against noise and wailing banned access to 42 items including toothpicks to save dollars. Today, most of those items are locally produced thereby creating local jobs and increasing wealth for the entrepreneurs who took adantage.

This time, the best president in Nigeria's history says that in a bid to encourage local food producers and make them competitive, the CBN should not provide dollars to food importers. Wailers and wailing zombies are masturbating and bringing up voodoo economics to tell us why it is wrong for the president to say/do so. Please tell us how best to encourage local production if not by making them more competitive? How can people produce locally if the imported goods remain cheap or slightly dearer?

Una no get sense I swear. And this senseless thinking is being led by a wannabe presidential candidate who was a deputy governor of CBN when GEJ sacked Sanusi. The idiot stood by GEJ. He was also alive when Jona the fisherman was ordering Emefiele to release billions of dollars for looting (in the name of fighting insurgency) but kept quiet.

IPOBites and sense are words and their opposite.

You want Nigeria to be like China, Korea, Japan, etc, but you don't want to take the hard decisions! Hypocrites and unpatriotic souls.

God Bless you!
The PigDiots have lost all sense of reasoning; instead they are relying on their hatred for Buhari to take them to the level of stupidity.

Some of them are even equating the forex restriction to mean outright banning of the mentioned food items - talk of intellectual laziness.

LegendHero:
To be honest, Buhari meant well by telling CBN to stop giving FOREX to food importers coz by the basic common sense rule it will make people patronize locally produced food ma and hence create employment based on the fact that Agriculture is the largest employer of labor in Nigeria.

But looking at it from another perspective, there are always effects to any action no matter how good or bad it seems like. The effect to this is that in a nation like Nigeria, the food importers will resort to getting the FOREX elsewhere from the black market dealers and the brunt of the high cost of food will be on the final consumers.

The government is trying in their own way to give farmers incentives and inturn increase yield but we are not yet at the level we want and they really need to invest more in agriculture to get machineries and fertilizers to the farmers. They shouldn’t just stop granting FOREX to food importers, but they need to remove it bit by bit to be able to ease the pain on the citizens.

Tbh we are not yet at the point where we can produce 80% of what we consume in Nigeria, hence the government need to be tactical not to remove the FOREX from the importers at once, but do so gradually.

Buhari policy is right in an ideal country provided we can really mechanize our farming and our farmers can meet the daily demand of food, but in Nigeria things are different and we don’t conform to textbook definitions of economics coz a lot of factors come into play.

Verdict: The government should not stop granting FOREX all at once, coz the aftermath effect could be fatal.

If the Embolden happens, due to the high cost, people will be forced to go for the local version of the said food products which will then encourage more local production, job creation etc. When importers of such food products realizes people are no longer patronizing the imported products due to high cost, they will be forced to channel their funds to produce locally or invest in local companies

Its a good policy!

Kenturkey048:
bros the question is,are we ready to start producing...??its been proven so many times that young nigerians are not ready to go into farming...the unavailability of sustainable working environments in Nigeria is our greatest setback...when bases set,foundation laying becomes juicy ...this would only encourage hike in depended foreign product like rice....me and you no dey chop afada rice,,na imported one we dey chop....even dangote rice,is only packaged in Nigeria...the main stuff is still imported..

Dangote will be forced to go into rice production locally just like how he is into tomato. Dangote has learned that relying on farmers for raw materials for processing is not the right way to go. So, if importing is more sweet for him, he has no choice than to do it locally. Hope you get it.

It is not about the youths only. It is about Nigeria as a whole. There are still youths in Agriculture. I gat many boys under me making real cash in the sector.

What is going to happen is that big players just want to see the initial output. If Buhari means business and big players see that the venture is worth it, they will go into it. But if no one does anything, it will get worse as it is getting. Hope you get it.

And the people who are enemies of Nigeria are those benefiting from it. They lure masses to protest and frustrate the effort to start making us produce locally.

Before we start talking of technology in Nigeria, the first thing is that we must be able to produce over 80% of what we consume. Christ. We are over 100 million population. Nigeria is drowning. Buhari is right on this guys.

A more sensible approach would be to understand the factors and limitations affecting the current levels of internal food production and alleviating those. Total ban without anything in place to encourage local production will not lead to any magic solution, it's simply going to make prices skyrocket.

No dumbo that just wants to defend buhari at any cost should quote me. If you can't reason objectively, that is your headache.

majamajic:


Dubai imports fresh tomatoes and rice from India


are we better than them

most times people just hear only advantage of some policies ...gbam ,,they start jubilating ,forgetting the disadvantages.....them no understand wetin them call comparative advantage...since obasanjo ban rice importation what good has that brought rather than hike in prices of rice..this would only cause serious problem on rice...because that's our most consumed food.I just pity Nigerians...na the time them hear rice a bag 45000 ,their eyes go clear....if na Jonathan do this NAaaa...some zombie go call am clueless...

Lionsbet:
Two-weeks old Techno Spark 3 for sale, with carton, recipe and charger.



Price is 30k.



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Fast buyer needed, no time to waste.

To pay at the point of delivery.

I think the directive is targeted at his brethren bringing cow in through our borders.

SillyMods:
Disgraceful youths.

Buhari has proved to be wiser and smarter than our so-called economists who know nothing about practicals but theory.

Many times Buhari has floored them on economics matter:

1. During the debate to fully float the Naira against the president's position not to do so, Buhari was eventually proved correct by attaining exchange rate stability without floating the currency.

2. PMB, against noise and wailing banned access to 42 items including toothpicks to save dollars. Today, most of those items are locally produced thereby creating local jobs and increasing wealth for the entrepreneurs who took adantage.

This time, the best president in Nigeria's history says that in a bid to encourage local food producers and make them competitive, the CBN should not provide dollars to food importers. Wailers and wailing zombies are masturbating and bringing up voodoo economics to tell us why it is wrong for the president to say/do so. Please tell us how best to encourage local production if not by making them more competitive? How can people produce locally if the imported goods remain cheap or slightly dearer?

Una no get sense I swear. And this senseless thinking is being led by a wannabe presidential candidate who was a deputy governor of CBN when GEJ sacked Sanusi. The idiot stood by GEJ. He was also alive when Jona the fisherman was ordering Emefiele to release billions of dollars for looting (in the name of fighting insurgency) but kept quiet.

IPOBites and sense are words and their opposite.

You want Nigeria to be like China, Korea, Japan, etc, but you don't want to take the hard decisions! Hypocrites and unpatriotic souls.

God bless you with this your analysis. Some people just hate the man because of nothing. How do we grow our own if we don't take some drastic step? Most of the food listed are foods that can be easily produce here, but u know what? Those importers bringing these items will do anything to paint the government bad because of their selfish interests. If I be Buhari I will just do like what Trump is doing to China by increasing the tariffs of these items.

This is an example of how the forex affect our reserve; Chukwuma will buy dollars from GTbank through Form M. Chukwuma will take the dollars to Thailand. When he gets to Thailand, he will exchange the dollars to Thailand's currency, with this act, the dollars will automatically goes to the Thailand Central Bank because he had already changed his dollars to Thailand's currency. Chukwuma will now use the Thailand's currency to buy the rice and still use part of the money to ship those rice to Nigeria. If u look at it, both the dollars and the Thailand's currency will automatically stay in Thailand central bank which will continue to boost their economy and make their own currency stronger while our own naira will be weaker and lead to scarcity of forex and inflation.

Pistotita:


Dangote will be forced to go into rice production locally just like how he is into tomato. Dangote has learned that relying on farmers for raw materials for processing is not the right way to go. So, if importing is more sweet for him, he has no choice than to do it locally. Hope you get it.

It is not about the youths only. It is about Nigeria as a whole. There are still youths in Agriculture. I gat many boys under me making real cash in the sector.

What is going to happen is that big players just want to see the initial output. If Buhari means business and big players see that the venture is worth it, they will go into it. But if no one does anything, it will get worse as it is getting. Hope you get it.

And the people who are enemies of Nigeria are those benefiting from it. They lure masses to protest and frustrate the effort to start making us produce locally.

Before we start talking of technology in Nigeria, the first thing is that we must be able to produce over 80% of what we consume. Christ. We are over 100 million population. Nigeria is drowning. Buhari is right on this guys.

okay...I want anything good that would improve the standard of our country sha....anyways ,let's just hope and pray...let's also not forget,Nigerians are impatient...we go still tussle for foreign rice even if the cost na 50k per bag....just the way obasanjo's ban on rice did mor harm than good....

Foolish comment.

Dollar was 145 Naira when Buhari came in.
We told him his foolish economic policy will destroy the economy.
Before you defend mr lifeless, can you tell him to return the economy to where he met it. Dollar is now 365 Naira, more than double.

So you won't say we didn't tell you, this policy will lead to food scarcity and increase in hunger. The long run is also not looking good for his govt.

SillyMods:
Disgraceful youths.

Buhari has proved to be wiser and smarter than our so-called economists who know nothing about practicals but theory.

Many times Buhari has floored them on economics matter:

1. During the debate to fully float the Naira against the president's position not to do so, Buhari was eventually proved correct by attaining exchange rate stability without floating the currency.

2. PMB, against noise and wailing banned access to 42 items including toothpicks to save dollars. Today, most of those items are locally produced thereby creating local jobs and increasing wealth for the entrepreneurs who took adantage.

This time, the best president in Nigeria's history says that in a bid to encourage local food producers and make them competitive, the CBN should not provide dollars to food importers. Wailers and wailing zombies are masturbating and bringing up voodoo economics to tell us why it is wrong for the president to say/do so. Please tell us how best to encourage local production if not by making them more competitive? How can people produce locally if the imported goods remain cheap or slightly dearer?

Una no get sense I swear. And this senseless thinking is being led by a wannabe presidential candidate who was a deputy governor of CBN when GEJ sacked Sanusi. The idiot stood by GEJ. He was also alive when Jona the fisherman was ordering Emefiele to release billions of dollars for looting (in the name of fighting insurgency) but kept quiet.

IPOBites and sense are words and their opposite.

You want Nigeria to be like China, Korea, Japan, etc, but you don't want to take the hard decisions! Hypocrites and unpatriotic souls.

- While FOREX restriction on food importation is laudable, the government needs to carefully work on the gradual implementation of the policy in order not to heap more misery on the economy.


https://nairametrics.com/2019/08/15/buharis-food-importation-ban-could-drag-the-nigerian-economy-into-misery/


[/quote]

This country is so full of clown.
is it that you lot don't understand what what PoN says.
he said he gave directive to CBN not to give forex to those that import food into this country,of what big deal is that. ?

if Nigeria a country of more than 180 m cannot manufactured her food in 2019 then we are not serious.
should we be importing food in 2019,food that can easily be cultivated here in Nigeria,of what economic benefit is when you import banana,soup and Pizza into the country,we all claim the country is not moving forward but when government bring out some policy that can shape the economy we all cry and make unintelligent comment.

The Pon is not living up to expectations but some of his policy are meant to shape the policy of the country.

How can you be importing Food into this country and spending loads of forex on them same with Milk

Lionsbet:
Two-weeks old Techno Spark 3 for sale, with carton, recipe and charger.



Price is 30k.



No Hassle!



Location- Ilorin



Fast buyer needed, no time to waste.

To pay at point of delivery?