₦airaland Forum

chigoizie7:
Yes, but u can't tell me that the ban had no effect on that.

Fx drove it up, ban drove it higher.

Applying the simple principles of demand and supply has an effect on it.

When there is scarcity, we apply that law.

The higher the demand on scarce products, the higher the price, it is as simple as that.


However, I am for how the presure on fx can be reduced, thus using rice as an example, rice is not the only commodity that sucks up our fx, many other commodities does, I just used rice to drive home some points.
[b]

Perhaps, u didn't read where I agreed with the person I mention on the fx issues?

Teacher1776:
as long as I can remember, you hailers have always asked if dollar or pound is Nigeria's local currency. And such shouldn't be used to ascertain the worth of a country's economic prowess.

So it is indeed hypocritical when u are the same person referring to the same exchange rate to justify a high budget which translate to emptiness. An increase in the budget figures has not translated to increased salaries for workers.

It has not translated to improve in the average life of the average citizen.
It has not translated to improve in infrastructure development.
The prices of local commodities are well beyond the reach of even the influential ones.
So here I ask you. What exactly are you trying to defend.? Cos it beats my imagination when people who are perceived to be literate, rational and intelligent are the ones openly supporting mediocrity, inefficiency and ignorance. A higher budget, whether in local or foreign currency should translate to a better and good living standard for the citizenry.
A rational mind would question the reason for the increase in the 2016 budgets over that of the 2015 one especially as that one ( higher one) ensured a bizarre living condition for the citizenry. A higher 2017 budget should tickle our reasoning mind chiefly on the backdrop of the reality that the higher 2016 budget didn't achieve anything tangible other than suffering for the average citizen.

chigoizie7:
I quite agree with u that fx can be determined by people's spending and purchase power.

But govt policy is the key thing here.

Let us take a good look @ the rice issues.

1st govt banned the importation of foreign rice( the ports and borders are well manned to prevent smuggling).

2nd, the govt (mostly state governments) helped so many farmers to access loans and start up local rice production in large quantity, even though we are not yet self sufficient, we will get there soon, I believe that.


3rd. Because of the ban on imported rice and extra duty,extra cost of smuggling, the cost of imported rice went up, up that most people can no longer afford it, thus, switched to local rice.

4th, the govt is helping to talk down on imported rice so that local ones will gain relevance in the market. 1st, the customs started by telling us how chemicals are used to preserve rices that has been unable to gain entrance through the shores. 2nd, they told us about substandard rice. 3rd, the issues of plastic imported rice. 4th, some states started banning the sale of foreign rice in their states( example, ebonyi state govt).

What do u call that? My brother, this is also a govt policy as all those that played a role in such policies,media campaigns are all govt agencies.

With all those and more to come, local rice will be stronger in our markets and cheap too.


Once we become self sufficient, there will then be a total and intolerable ban on imported rice. Now check if all or many imported goods are handled the same way this rice issues were handled. The burden on fx will be drastically reduced.

Few months ago, customs reported that rice worth over 3billlion dollars are all stashed in various warehouses both in Benin republic and niger and Chad, waiting to be smuggled into this country.

My brother, if there is no need for importation of rice as govt is so serious on it, 3billion dollars wouldn't be sourced by importers,thus reducing the burden on fx by @least that 3billion dollars or more.



If this country wants to progress, govt has 90% role to play, there are many investors willing to invest, but can only do that if the govt provides an enabling environment for them.

I don't know what transpired between Erisco foods( tomato production) and govt that made them close shops. I heard they were operating while the govt is still allowing imported tomatoes into the markets and are being sold far cheaper than what is obtainable because they are mostly substandard goods.

If govt had created an avenue for local production, create scarcity to give way to local manufactures, once the little ones that are operating are making it big time, others will be forced to cash in on the advantage, there by giving rooms for many other factories to spring up,

ivandragon:
sure people are...

but only those who:

1. still depend on benefactors & don't know what it means to be responsible;

2. paid hacks & those profiting from the shambles we have found ourselves in;

3. those with a skewed sense of history & are too lazy to do any research but come here as enlightened illiterates...

& before silly kids quote me, let me drop a food for thought for you all...

pre- May 2015, a bag of imported rice was sold for N12,000 in Benin Republic while it sold for N12,000 in Nigeria.

as at today, a bag of rice still sells for N12,000 in Benin while it goes for N20,000+ in Nigeria.


lesson?

its not your volume of imports that actually wreck your economy, its how well you manage the situation & turn it around to be a blessing rather than a curse.

Scream:
This is the most hardworking government in the world...they are working hard delivering pains and sorrows.

We would be happier if they took a break till 2019 and allow Nigerians to constitute a government that understands the purpose of governments in the first place.

People that know that they have responsibilities...not just right to push people around, enjoy heavy underserved salaries and allowances.

When our children shall be reading about us, they would be wondering how people like Femi Adesina could talk trash easily. They would be wondering how these ones can claim they are not cavemen.

olas24u:
In which other country of the world have experienced such an increase within few months?forex is a fraud in this part of the world.everything here is deliberate act to keep the country down.

kingphilip:
I think the government isn't encouraging the purchase of locally made goods hence the citizens toing that path..

Lemme begin my research from here.. The rice the first family is eating is it locally manufactured or imported

Blue3k:
No you illiterate. Since I have to break it down for you since you have reading disability. I didn't agree with his Alhaji comment about farming. I listed that in my disagreements at end after I explained my other disagreements. I bolded it for you. I said farming same un south and north cocentrated in private hands natually.

I agreed why the like allocation system.

Blue3k:
NOW your attacking strawman again. You don't even understand what we're discussing but you want to seem relevant to conversation. Lol don't you get tired of embrassing yourself. After you ran off after being exposed about usa having multiple power grids.

I never claimed anything you said in this trash post. You must have reading disability like your bother Standing5 that got exposed aswell.

Yes a stron tax structure would be good. They are low contributors for other reasons besides that. I listed some of the reason for why northern states remain economic laggard.

Blue3k:
The first half of point is correct about why political class's hates idea of reforms. It would expose them to elements of being economic basket cases.

I think solid mineral do count towards shared because federal government has exclusive ownership of mineral rights. Cement isnt good example since it has to be manufactured. (Oil has to be refined to be useful). The farming is same since the profits private.

Funny thing about this system is it doesn't even benefit average northern nigerian. It doesn't allow private property owners to collect royalty directly, deters investment etc. Nigeria and north has suffered most due the fact the system enables laziness economicly.

Keneking:
Ok, so they are targeting this Erisco company owner from South Eastern Nigeria at all cost..

- first by not granting him access to Forex
- second by deliberately targeting his production plan in China

***Each time Dangote tries to produce, they (Chinese) lower their prices."

This government sef

OZAOEKPE:
Thank GOD they no fit BAN BREEZE, that ani mal way i know fit cease am




A french graduate as our minister of Agriculture and you see stola defending such appointment, i pity for our country

plaetton:
Yeah.
That's how they keep blaming low oil price.
I have said it before that even oil trades above $100 for 4 straight years, Buhari would still look for other excuses for his incompetence.

NaijaMutant:
After just 1 year, Buhari's 2nd administration has spent more money than any other Govt in Nigeria's history. With nothing but recession to show for it.

eyeview:
For all those who think voting billions to buhari will be the catalyst for revamping the economy.
A dullard is a dullard,it doesnt matter the amount of money voted for his expenditure.
And can someone please tell me where all this money voted for capital expenditure went to.
This govt is more corrupt than past govts,just that a fewer people within a close knit cabal are now sharing more loots

macpetrus:
Yet some people will still come up with an excuse for this government..

No sector is currently working well...


People saying they'd still vote Buhari over again are d type that say "u must kill me today" after they've been beaten to stupor in a fight.

Johnnyessence:
wailer spotted. If u av money to give d commissioners u can kindly raise up ur hands.

Johnnyessence:
he is paying workers salaries. Hope u know that he inherit series of debts from his predecessors. Up till this moment his workers are not complaining hmmm.

chido20:
Buhari is a dullard

Blue3k:
Already debunked him and yourself.



Get used to dumb comments. He's trying to argue there's only one power grid when it clearly says theirs 3. Read the highlighted portions then Look at maps. It's obvious he has learning disabilities. Don't join in his delusional mental state.

Standing5:
Oga, please stay out of whole thing for some hours. That dude is irredeemably stupíd. Imagine what he is posting to support his argument.