₦airaland Forum

Area4Area:
Rice can still be imported today through our ports, nobody stops any importer, the problem we have now is that the importers illegally channel them through Benin and Togo and it is then smuggled into Nigeria
The government loses in collection of tariffs, farmers are not encouraged to produce more because of the depressed price and less people are employed in rice farming while creating jobs for Asians and extra billions in revenue for Benin and Togo

Ok

GavelSlam:
Why import then?

is it normal like that?

Iamgrey5:
It's sad that those cartel flooding our Market with substandard products will wail to high heaven and claim they are the friends of the masses, when in reality they are the reason why an average Nigerian in his/her mid to late twenties cannot find any decent job anywhere.

.

I went to boarding school. We used to buy locally fabricated galvanised iron buckets. Those things lasted forever.

Today, I am trying to buy steel buckets for our company, and there are no good buckets anywhere. They are all rusted in 6 months. Our importers have destroyed businesses and are flooding nation with rubbish that has to be replaced repeatedly.
Double impact. Jobs and disposable income

fyneguy:
Lol let me tell you what they do.

These countries have massive strategic reserves for their grains. They ship the ones that have spent 15 to 20 years to Nigeria at very cheap prices to discourage local production in Nigeria. Their governments fund this.

Oga, the best temperature to store grains, including rice, is 40°F or below; however, rice stored at a constant 70° F with oxygen absorbers will store well for up to 10 years. In cooler storage areas rice sealed in oxygen-free containers can be stored for up to 30 years. A B.Y.U. study sampling polished rice and parboiled rice stored from 1 to 30 years found that both types of rice will keep their nutrients and flavor up to 30 years.

However going by the numbers available, Thailand has 10million tones of rice reserve which practically puts their stock 3yrs, so the question of 10-15yrs as you put it is over sensational.

It begs the question, If Nigerian local rice production hits the roof, won't the excess be stored in a reserve? Will the federal government throw the rice away for the same reason you're demonizing imported rice because of storage? If you have the technology to store food, why not?

PaChukwudi44:
Please where Can I buy this nigerian rice?

Ask for stone-free Nigerian rice. E plenty for market. Just bought a bag last week. I no know wetin dey worry us for this country.

Sholaani:
So to open boarder is the way forward for the nation... smh!!!

Economist everywhere

Stop displaying gross illiteracy.

Closing border will not solve anything. It will only push the prices of both commodities up, above what it was before the closure.

It is simple economics.

Local rice was 17k when a bag of rice was 18k. The border closure caused the foreign rice to increase to 21k in just 1 week.

Limited supply will continue to push up the price of the foreign rice because some people will continue to demand for it but this number will continue to fall as supply falls and price increases.

The fall in number of demand for foreign rice while cause an increase in demand for local rice but because number of supply is relatively constant, price of local rice will increase sharply but trailing the price of foreign rice.

Local rice will end up being expensive and also unprofitable for farmers because the associated cost of producing rice will also increase (theory of repercussion effect- Advanced Macro Economics)

This is Nigeria, price don't fall once it goes up just few shedding.

Allow local rice to compete freely with foreign rice but with government's 5 years incentive and intervention is the way to grow a sector- not protectionism.

capitalzero:
Thank you ma. Porous borders can be closed if for security reason. But rice should be allowed to be imported the country through designated borders and importers and distributors should be licenced. However, import tarrif should be high enough to discourage importation and encourage local production. I stand with liberal economy not protectionism

I subscribe to classic economics (Adam smith's school of thought). They believe in pure liberalism, zero government intervention and specialisation.

I subscribe to Kynesian thought that interaction between aggregrate demand and aggregate supply is what influences the economy and his thought that demand creates supply.

I subscribe to Monetarist school that all economic problem is a monetary phenomeon.

I subscribe to mercantilist school that advocates for strong institution.

So what you proposed is neither classical, Kynesian, monetarist nor Mercantilist but it summarized to an extent my economic belief and I love calling it Conservative Capitalism.

You are WISE!

Local rice is 14k, good, sand/stone free, Goan buy your own....

You want the value of naira to improve, you want more employment, yet you dont wanna make sacrifices to develop your own goods...

Tyche:
The quality of his rice is at par with Uncle Ben's, you can take this to the bank.

please whatever you do, don't ever compare uncle benz rice with Nigerian rice again. It's improper... Stop it! Don't do that again !

1stKing:
please whatever you do, don't ever compare uncle benz rice with Nigerian rice again. It's improper... Stop it! Don't do that again !

I am saying what I know.

Tyche:
I am saying what I know.

Nigerian rice should be renamed stones rice

fyneguy:
See the picture of the Naija rice I bought today at Mile12. If you need the trader's phone number, I will give you.

Pls I need the traders phone number

1stKing:
Nigerian rice should be renamed stones rice

Look at you ...

ChristianEast:
I subscribe to classic economics (Adam smith's school of thought). They believe in pure liberalism, zero government intervention and specialisation.

I subscribe to Kynesian thought that interaction between aggregrate demand and aggregate supply is what influences the economy and his thought that demand creates supply.

I subscribe to Monetarist school that all economic problem is a monetary phenomeon.

I subscribe to mercantilist school that advocates for strong institution.

So what you proposed is neither classical, Kynesian, monetarist nor Mercantilist but it summarized to an extent my economic belief and I love calling it Conservative Capitalism.

You are WISE!

are you an economist? You are very intelligent.

yet it is conservative capitalism to protect vulnerable ones.

ChristianEast:
I subscribe to classic economics (Adam smith's school of thought). They believe in pure liberalism, zero government intervention and specialisation.

It's called classical economics and not classic economics. It only works in the text books, it does not work in the real world. Even in the US government intervenes in business to help them survive and to reduce unfair monopolistic practices by the big companies.

I subscribe to Kynesian thought that interaction between aggregrate demand and aggregate supply is what influences the economy and his thought that demand creates supply.

Also only works in the text books. In the real world lots of other extraneous factors affect prices. If economics is such a perfect science, the markets would not be so difficult to predict.

I subscribe to Monetarist school that all economic problem is a monetary phenomeon.

Also false. Economic problems can be as a result of social, political or even religious conflicts.

I subscribe to mercantilist school that advocates for strong institution.

True, but strong persons build strong institutions. That's why sometimes the strength of the character of the head of an institution sometimes determines the success or failure of that institution. A good example EFCC under Dora Akinyuli

So what you proposed is neither classical, Kynesian, monetarist nor Mercantilist but it summarized to an extent my economic belief and I love calling it Conservative Capitalism.

You are WISE!

Economics is a social science dealing with human behaviour and human behaviour is anything but predictable.

GavelSlam:
How much did you buy imported rice last year?

Shoprite this evening

[quote author=ornicus post=82238837][/quote]Your photo isn't dated.

GavelSlam:
Your photo isn't dated.

Shoprite this evening

ornicus:
Shoprite this evening

The label says 25kg. That's half bag.

wirinet:
The label says 25kg. That's half bag.

What does anyone want with a 50kg bag of rice? Is that not to resell in containers?

ornicus:
What does anyone want with a 50kg bag of rice? Is that not to resell in containers?

A 50kg bag of rice in my house last between 3 - 4 months.

Buying small quantities of rice and other food items is a waste of money.

wirinet:
A 50kg bag of rice in my house last between 3 - 4 months.

Buying small quantities of rice and other food items is a waste of money.

You actually bought a 50kg bag of rice. I wonder how you even stored it. Or carried it sef

That's what's left of a 25kg bag in my store. It has lasted a family of five for over 3 months

fyneguy:
Yes it is good. N17k

. What is the difference between the two in price

durangokid:
. What is the difference between the two in price

N4k

fyneguy:
N4k

. So to you that is fair to Nigerians?

Charleys:
Rice wey no dey bellefull person na it una want die for.

If this rice thing no concern you cause you are a garri fan park here.

Fool

wirinet:
It's called classical economics and not classic economics. It only works in the text books, it does not work in the real world. Even in the US government intervenes in business to help them survive and to reduce unfair monopolistic practices by the big companies.

Your problem is over sabi. You should have known it was a mistake.

I am sure you don't understand classical economics. US economy is ran on classical principles the only exemption is in the area of limited government interventions.

Saying, Classical economics works only on text books is gross ignorance.

wirinet:
Also only works in the text books. In the real world lots of other extraneous factors affect prices. If economics is such a perfect science, the markets would not be so difficult to predict.

Do you really understand the concept of aggregate supply and aggregate demand?

wirinet:
Also false. Economic problems can be as a result of social, political or even religious conflicts.

It is a pity you don't equally understand monetarist principles. All economic problem can fixed using monetary measure (fiscal or monetary policies) that is a summary of the principle.

wirinet:
True, but strong persons build strong institutions. That's why sometimes the strength of the character of the head of an institution sometimes determines the success or failure of that institution. A good example EFCC under Dora Akinyuli

It is a pity you don't equally understand mercantalist principle and what it means by strong institutions. I will not tell you.

wirinet:
Economics is a social science dealing with human behaviour and human behaviour is anything but predictable.

You need help.

Human behaviour is predictable dude.