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Nairaland Forum / Nairaland / General / Business / Lane Man's Advice On Strengthening The Naira (400 Views)
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Lane Man's Advice On Strengthening The Naira by tempex88(m): 9:01pm On Apr 21, 2016 |
1. If it is not absolutely necessary do not patronize imported goods. This should be a personal decision by Nigerians because if the world knows we are avoiding their products, they might avoid ours too, which will lead to a bigger problem. No nation can exist as an island. 2. Do not just avoid buying goods made outside Nigeria, avoid buying goods assembled in Nigeria with raw materials from other countries. 3. Insist on conducting any transaction in Naira and where the other party rejects it, find another alternative e.g trade by barter (three tons of beans can be exchanged for Mitsubishi engines for innoson cars). 4. All government contracts should be awarded to Companies in Naira. Even When foreign raw material or expats are required, naira should be the only approved means of payment. 5. Government should cut down on spending and look inwards for the solution to its currency problems. 6. IOC that do not have forex issues should be easily assessable for forex after through scrutiny of the purpose of the request. 7. When we visit stores or supermarket in and outside Nigeria, we should make conscious effort to purchase goods made in Nigeria. The Indians in Nigeria use Tata has their official cars. 8. WE need to make conscious effort as a nation to increase and also encourage export, the FG can develop a policy to only make available to the public on a monthly basis 60% of the FX gotten through export and crude sales. We can extend the list to further educate our colleagues. |
Re: Lane Man's Advice On Strengthening The Naira by Nobody: 11:31pm On Apr 21, 2016 |
4. All government contracts should be awarded to Companies in Naira. Even When foreign raw material or expats are required, naira should be the only approved means of payment. So the Raw material company or expats that you want to pay in Naira, please what will they do with the Naira in their country e.g China or USA?
Not all sellers accept trade by barter |
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