Wallade's Posts
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NGpatriot:The cost of doing business forced the textile materials manufacturing industry in Nigeria into extinction. A lot of manufacturers - Dunlop Tyres etc - have moved to other countries where the economy and cost indices are reasonable. Nigerians must wear clothes and are price sensitive like other consumers hence they see good quality in imported clothes and materials at affordable rates. Local manufacturers can't match these offers in terms of quality and pricing hence, the struggle. They need to improve their quality, mechanisation, pricing, technology and techniques. Even Mr President wears foreign materials and clothings. A better approach is for government to encourage improved standardisation in all consumer products industries, reduce multiple taxes, initiate tax holidays for qualified manufacturers, encourage the process of organising the distribution chain of food products to curb the excesses of offtakers that extort the market for super profit. Invest in consumer products by creating a pool of funds for loans at low interest rates (single digit) and manage the fiscal policy of the country such that it favor, drives and compliment these efforts. These will take years and conscious effort to achieve positive results and then you would have improved and built the capacity of local manufacturers to meet local demand. Then you can implement this rogue and crude approach of closing the borders to benefit local manufacturers, if you wish, and there will be be little or no strain on the economy. |
geosegun:Old man, do you really wanna compare Nigeria's economy with China's economy at that time. That China was and is still a centrally controlled economy but Nigeria is said to be free-market economy. I only pity the Nigerians you keep impoverishing and plan to unleash food scarcity upon. If you are out to compare today's Nigeria with the economy of any of the Asian tigers as at that time, you must be fooling yourself. What is your level of technology, mechanisation and productivity in every sector. Name a sector that is optimally productive in Nigeria. I am sure the $200,000 dollar investor you mentioned is one of those rogue and selfish policy makers who manipulate the system to their benefit; they are super profit takers who are only in the business for the super profit but can't coop with marginal profit. The government and farmers have simply disrupted the market with direct interference, scarcity and inflation. |
Jimi24:I strongly believe border closure negates the functionality of free-market system and Nigeria's economy isn't self sustaining and has no immediate potential to sustain itself just yet. It has created artificial scarcity and food inflation especially because local farmers can't meet the local demand for rice and some other food. The farmers capacity should have been developed gradually till we get to level of sufficiency. If my suspicions earlier stated are true, then government and CBN are trying to make Nigerians pay for the bad loans while they share the returns on the super profit with farmers. Though I feel the neighbouring countries must respect the desire of the government of Nigeria to prevent smuggling, dumping of goods and protect economy. We must also encourage international trade for balance of payments. |
I honestly think CBN gave government-backed loans to rice farmers and suddenly, farmers must have been defaulting on repayment and they realised there is a significant possibility of huge bad loans. Farmers excuse must have been that Nigerians don't buy local rice and CBN plus govt must have gambled with the idea of closing the boarders to create artificial scarcity of rice and super profit for rice farmers to enable them to repay the non performing loans. This is an assumption; you are on your own if you believe it. |
Tinubu knows he can't win South West. |
wamide042:It is no longer your property. It belongs to the owner of the shoes, you can feel bad that he wore it to dumpsite but not to the extent of litigation against him. You have gone too far to express your disapproval in that case. |
Barondenigeria:Trump is so unprofessional and uncut with speeches. He lacks decorum and needs to be schooled on professional communication etiquettes. |
wamide042:At that moment, the fashion designer should also realize that the customer has the title to the cloth. It is now his or her own and he can do whatever he likes with it. |
NwaAmaikpe:Did he buy the car with your or any body's money. The moment Ferrari sold the car to him transfers title to him hence he could do whatever he likes with his car. So if he packs wood and waste with the car and publish it, Ferrari will complain. If they are uncomfortable, they can stop selling Ferrari to him. Simple! |
Midas01:Since you seem to know a lot about their personal issues, perhaps you are an insider, please ask Shola what result she has over the years since she chose to address the matter on social media and through you. You both need this advice: grow up and stop being bit.ches |
Will you guys let him write, we need to see his article and hear his opinion before we judge and cast aspersions. Tokunbo, please write. We are waiting to read. |
Midas01:Their chats should not be my or your business. Wizkid has a mother and relatives that she could reach out to in case she finds it difficult to reason with Wizkid. All she should be demanding is that he should be responsible for his son. I strongly believe she will get his attention and positive response if she can adopt that approach rather than media trial and casting. Wizkid is not perfect; he can be influenced or strongly admonished by some people. Shola only needs to discover those influential people in his life and employ their assistance to trigger a change. Mind you, I have no Demi God just in case Shola is your own Demi God, I really don't care. |
Midas01:Why bring his mother into your disagreement? |
Shola is simply trying to cast and shame her baby's daddy. I don't wanna believe Wizkid has no funds to care for his kids. There must be irreconcilable differences that both parties have allowed to influence their financial commitment to the little boy's life. I trust that Shola knows the better way to make Wizkid responsible for Tife. This social media cast isn't the way. |
All offer of employment are contracts. I think the best adjective to qualify the job/staff is temporary or casual job/staff. |
It was a good meeting and bargain for Nigeria. Big ups to Buhari however, I hope the Nigerian team have these concrete commitment from the Russian team; I hope Buhari's team is not trying to fool Nigerians. |
Yampotatocarrot:I remember that Buhari went to Japan, this year, with the hopes of convincing Toyota to set up a plant in Nigeria but Toyota passed the offer and rather discussed with Ghana. I will tell you the reason Toyota passed despite acknowledging that Nigeria is a big market for Toyota brands, they passed because Nigeria has unstable government policies and the cost of doing business in Nigeria is extremely high. The level of corruption is also a worry. To attract manufacturers to Nigeria requires government to operate and run fiscal policies that favor industrialization, economic growth and development; that transcends party and designed for long term. Despite the available human and material resources, the Central Bank of Nigeria (CBN) must also operate monetary policies that compliment the government effort with fiscal policies aimed at economic growth and development. We must also operate stable democracy and our electioneering should be matured and violence free. Concerning the poultry, we must understand that effective dumping of products, substandard and otherwise, in other countries requires that it should be cheap, Infact very cheap so that the market will accept and consume it. That is why those imported poultry products come cheap and Nigerians love cheap products. Fishing business in Nigeria must move beyond fish farming, we must embrace sea fishing too with the active promotion, incorporation and operation of the fishing companies that operate fishing trawlers - a commercial fishing vessel designed to operate fishing trawls. This will enable us provide sea fish in large mass to compliment the catfish and tilapia that are often produced by fish farmers. However, we must still allow importation of other fish like Titus, Croaker etc to meet aggregate local demand for fish. |
pharmagba:Oga, statistics will tell you if we can meet local demand for rice or any food at all. You don't have to shut the border and create the food scarcity, astronomical prices of few food - rice - and discomfort to Nigerians before you evaluate the capacity of Nigeria to meet the local demand. Do yourself a favor and see the post below as I quote PWC: "We estimate that increasing the mechanisation rate in Nigeria from 0.3hp/ha to 0.8hp/ha in the next 5 years, can double rice production to 7.2 million tonnes. To achieve this, we estimate that Nigeria will need to at least triple its current stock of machinery over the same period. Rice - the most consumed staple Rice is one of the most consumed staples in Nigeria, with a consumption per capita of 32kg. In the past decade, consumption has increased 4.7%, almost four times the global consumption growth, and reached 6.4 million tonnes in 2017 – accounting for c.20% of Africa's consumption. As at 2011, rice accounted for 10% of household food spending, and 6.6% of total household spending*. Given the importance of rice as a staple food in Nigeria, boosting its production has been accorded high priority by the government in the past 7 years. Significant progress has been recorded; rice production in Nigeria reached a peak of 3.7 million tonnes in 2017." Cars are not luxury goods, they are necessities in most cases. It can only be luxury when you acquire extra expensive and many cars. Every Nigerian family should have a car, at least. Innoson has proven to be a profit maximiser; keenly interested in super profit otherwise, I can't understand how the "pangolo" awarded to Mercy - BBN 2019 - was valued at 25million naira. What is the second hand value of Innoson vehicles? Even your new National Assembly members refused to settle for Innoson and other Nigerian assembled brands. The quality is low compared to American specs foreign brand. Let me ask: have you experienced American specification Toyota personally? If you have, you must be insane to come on this platform and advocate for Innoson. Ultimately, we must be objective, fair and practical with our suggestions to the government even when we have the interest of the nation at heart, we must prevent sentiments and selfish business motives from eroding our sense of judgement. |
I think it is not a well planned decision to close the borders. It has it's advantages but certain developments should be in place within the Nigerian economy to take full advantage of such decision to shut the borders to imports from neighbours. I will focus mainly on rice, vehicles and poultry products importation through those routes. Food is essential commodity in the nation. Nigerians eat a lot of rice and it is often consumed largely during festive and celebration periods. It is also the common household food. What is the capacity of local farmers and Millers to meet the local demand for rice in Nigeria? What is the quality of local rice? How many standard and advanced rice mill plants do we have in Nigeria? What is the average price of local rice in Nigeria? What is the plan of Nigerian government to stabilise the price of local rice since the government created the artificial scarcity of rice which triggered inflation and super profit takers to rip Nigerians off? It is important to note the need for offtakers who buy livestock and farm products off farmers at agreed and fair prices and supply the products to retailers or consumers at reasonable or normal profit to ensure standardisation, competitiveness, affordability, development, economic growth and capacity improvement of farmers. This is the most sustainable approach to reduce food inflation, ensure dependence on local food, eliminate unnecessary importation and improve the balance of trade of Nigeria. Importation of vehicles, brand new and fairly used, will continue in Nigeria because we lack the capacity to manufacture quality vehicles in Nigeria. What Innoson, Nissan, Peugeot and others do in Nigeria is assembly of knocked-down vehicle parts into vehicle units. I can tell you categorically that Innoson only manufactures maximum of 10% of its vehicle parts, if at all. Besides you can not compare the American specification of any model of vehicle with African or Arabian/Asian specification which are often assembled in South Africa and Dubai(UAE), as for Toyota, and assembled in Nigeria for some other brands including Innoson. The difference is significant. Hence, there is justifiable demand for imported vehicle products However, the Nigerian government should review the cost of importation, cargo handling and turnaround time at the Nigerian ports to ensure competitiveness and advantage over other neighbours ports especially since the products routed through the neighbours ports are ultimately meant for Nigeria. I strongly opine that government should reduce the import duty on imported cars to about 10% on cost value of older cars, not older than 15years back, and 25%-35% of cost value of new cars, of less than than or equal to 4 years old, to ensure all imported cars meant for Nigeria are routed through Nigerian ports. Nigerian car manufacturers may not like my idea but when you review the government policy of 70% of cost value on new cars, from year 2016, over the years, you will agree with me that it has not discouraged Nigerians from importing fairly used cars especially American specs. Even the quality of cars manufactured in Nigeria is poor compared to other specs and the price the local manufacturers sell the cars are outrageous given the value of cars on offer. As for poultry products, Nigeria has significant immediate and potential capacity to meet local demand hence government policy should simply be aimed at encouraging and empowering poultry farming in Nigeria and importation of poultry products will be eliminated naturally. We all know that they simply dump those products on Nigerians hence the cheap prices. As for fish, Nigeria can not meet local demand for fish. We must import fish at controlled rate and also encourage local production of fish. Our potential is in production of cat fish and tilapia but no other types other than sea fish. Government can also encourage sea fishing business to supplement our catfish and tilapia fish production. However, we shouldn't deny Nigerians the need to consume Titus, "Panla", croaker fish etc. |
We will shock you. |
frowland:The challenge in Nigeria is that government agencies duplicate effort and that amount to waste of resources. If I assume that EFCC can prosecute the accused for illegal profiting, the primary offence is that the accused runs a business of adulteration of palm oil, the illegal profitearing is sequel to that primary offence which ordinarily will result to forfeiting income generated from the business upon confirmation of guilty verdict by competent court of law. So why should EFCC waste resources and effort when NAFDAC can effectively prosecute the accused. They could simply have notified NAFDAC on the allegation or their findings and followup with NAFDAC to ensure action is taken. |
frowland:Oh please, be realistic: EFCC is not established to prosecute food adulteration or counterfeiting crimes. That is NAFDAC's job |
omoadeleye:What happened to collaboration with NAFDAC? That was the job of NAFDAC. NAFFAC is the body to prosecute the accused. |
Jimi24:Oh! Shut up! Stop justifying the ills of this government or any government at all. |
wirinet:Port charges in Nigeria are higher than port charges in our neighbouring countries. |
wirinet:Why must importers of unbanned products use airport or seaport? Why not the border if it is cheaper after paying the import duties and levies required? Honestly, banning importation via the borders is not a good move. |
I like her |
Who is stunned? |
kunmiiii:Really, you mean it was so much threat that necessitated the use of live bullets on students with fatal intentions. We're the students armed with weapons? Did they open fire of bullets at Fayemi's wife and her entourage? Do you understand the "Rules of Engagement" or have you ever heard of it. Honestly, I don't see any justification in what Mrs Fayemi's security entourage did. I also believe that Fayemi's wife and the officers that killed unarmed students should be held responsible for the killings and injuries. Besides, what is the constitutional or government role of the wife of a governor or president. Their status is alien to the Nigeria constitution hence, I can't understand what gave her and her security officers the effrontery to act in such barbaric and wicked manner. |
UdyOgwoUde:Your comment is about a defender who won world footballer of the year. We are analysing Africa's best strikers. What is your point? |
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