If anybody in buhari's inner circle, or appointed by him becomes president in 2023, I would give up on Nigerian issues.

By next week, I am going to sell two huge lands and invest it into American stocks and the dollar market.
Real estate in Nigeria is worth shit anyway due to the piss poor Naira.

Once I am done, I would have successfully divested my future from NIgeria and your economy.

If You people like, vote for buhari MK2, it would no longer be my business.

dalass:


Its a northern agenda to frustrate the southern farmers and exporters. Why are other expoters not complaining.

The grand northern idea to kill agriculture in the south and boost Norths agriculture... The idiots are in need of forex oh. Why won't we have problems if we only import and we frustrate exports? Of course there'll be a deficit

Please refrain from making posts like this. It makes light of the whole situation.

Every export commodity is affected by this especially the ones in season.
A company that deals in sesame seeds and oil derivatives have over 150 containers stuck at the Onne port.

Imagine that in dollars and how it could help the dollar starved economy

CNNN:

You are absolutely right. The government is the problem.

Government is not the only problem, most of you don't like to abide by the rules, that's why our problem is such a big one

Tajbol4splend:





There have to be rules to set standard and good reputation for our exports

Yes, but what's a rule when a certain group of people are exempt from that rule

Connoisseur:


Please refrain from making posts like this. It makes light of the whole situation.

Every export commodity is affected by this especially the ones in season.
A company that deals in sesame seeds and oil derivatives have over 150 containers stuck at the Onne port.

Imagine that in dollars and how it could help the dollar starved economy

Your country is ran by idiots.

Medically certifiable idiots.

If you have money, better start buying dollars.

deenee:
Unfortunately, the government is not the problem, the exporters are to blame too. when you want to import machinery CBN give them dollars at official rate all in a bid to encourage more exports from the cocoa producers. However, when they export, they will refuse to return export proceeds through the official channel and route the proceeds to the black market. If they have nothing to hide, they should document and process the declaration form before exporting.

If I'm not mistaken, these proceeds will be paid in the official rate 380# as opposed to 480#? Why should it be so if the government aims to promote exports?

TheLionofLasigi:


Yes, but what's a rule when a certain group of people are exempt from that rule

Thats not good enough but I'm just talking about our attitude towards following rules

Seun:
Why should a government that wants to diversify the economy and strengthen the naira, impose rules that will make exportation more difficult?

You will be surprised by some of the conversations that lead to new policies being adopted. Even a 14 year old’s Economic knowledge is better than theirs.

Handling the economy like some sort of cartel... Benin Republic seems like a better place to take one's investments especially for exports.... This country needs restructuring seriously.

So now we are all slaves to Buhari who needs dollars but we are not to bennefit from our own sweat and hard work.

TheLionofLasigi:
Handling the economy like some sort of cartel... Benin Republic seems like a better place to take one's investments especially for exports.... This country needs restructuring seriously.

They will soon bring back export and import liscence agents .

Calmblaze:
Nigeria my country!
Fellow Nigerians, please never give up! Better days ahead! It is well.

NIGERIA WILL TURN TO desert

deenee:
Unfortunately, the government is not the problem, the exporters are to blame too. when you want to import machinery CBN give them dollars at official rate all in a bid to encourage more exports from the cocoa producers. However, when they export, they will refuse to return export proceeds through the official channel and route the proceeds to the black market. If they have nothing to hide, they should document and process the declaration form before exporting.

CBN isn't giving anyone dollars.

The exporters are hiding their money because banks (who receive directives from CBN) are buying at official rates and selling at black market rates.

People with domiciliary accounts cannot withdraw their hard dollars or even send to a person or organization abroad.

They can only convert their dollars to naira at the official exchange rate.

If they need to send money overseas, they're required to deposit the equivalent at the black market rates or source dollars from the black market.

So CBN can stop exportation as well? Do they even have any idea the effect this will have on our economy?

Buy $ or BTC and save yourself from an impending Nosedive by the naira I’m coming days

ethicallyright:


Very Bad Policy

---

This is similar to mutilating the genitals of one's spouse based on their actions which suggest infidelity instead of meaningful interaction and compromise to even confirm if the accusation is even true.

---

It is true that Nigeria has a dollar deficit and an all time low dollar reserve but the government to ensure that dollars earned from exports are brought back to Nigeria must not act like a headless romantic partner and kill export businesses. At least even if the cocoa producers stock some of their dollars abroad, they will change a little of it to pay their employees and finance their production process to expand their companies. When the government blocks everything, there won't be even a little amount of dollars that the exporters would change to naira to pay their employees and expand their businesses which would not only make Nigeria's dollar shortage worse but would also cause the unemployment of those who work at such Cocoa production firms.

Oil dey ur head

Baybii:
Nawa oooo. Na until everybody for this country start to chop kernel and garri way dem go free us? Tufia. I shouldn't have been born here.
Very very incompetent leaders! They want to push the whole nation into the dark era!

2023, dont vote alomg tribal and religious lines

Until we stop voting along tribal lines, we deserve the leaders we get

Connoisseur:
I was wondering when this news will come to the public domain.

There is an ongoing battle between truck owners and exporters, some trucks have been carrying export containers for 40- 60 days because of the inability of the shipping lines to receive these containers.

The shipping lines are relying on a directive from the CBN that every NXP (export declaration) must be confirmed by them (CBN) even though the exporter have evidence of this declaration in the form of a CCI.

Exporters have incurred a huge amount of extra expenses renting open fields and hiring cranes to drop these containers until these approvals are confirmed. This is in addition to the huge amount for transport to the terminal especially Apapa and PTML. It costs over 700k and at least 2 weeks to transport a 40" container to either terminal.

After all these, the CBN expects the exporter to repatriate the dollar proceeds and sell to the bank at 385.

We are not serious in this country

If Nigeria was run with tax money, there will be seriousness around this kind of issue. Oil will sell whether cocoa exporters do business or not.

CNNN:

You are absolutely right. The government is the problem.

CBN is the problem
Emefiele has to go

He doesn't know what he is doing.

Coldie:
Dollar scarcity, once that repatriated money from cocoa enters Nigeria they would trap it, either u take naira or leave it

In addition to frustrating the businesses of these men. If I am one of the exporters, I will open a dollar account and ask customers to pay a substantial part of my profit component into it.
Let CBN go and market oil or let them sell gold they are reserving.

https://www.youtube.com/watch?v=fZkXLt165mQ

Hhppycare:
Dear brothers and sisters , if you can see this post right now . I am on my knees crying please do not ignore, .i know things are hard but I beg you in the name of God, please from the little you have, please help with no matter how much. I am married, a father of two and I am very down at this moment. Things haven't been going smoothly for me this time from my menial jobs due to owings. We have been hungry for days now , the kids has been drinking garri and is now affecting their health. I need to buy food and kerosene. . Please help me. Please help us. We are starving. I beg any kind hearted brothers and sisters on this forum Any amount please. I pray God bless anyone that gives me anything. Please. 3_1_3_5_8_38_6_09 first bank

Mukina2 and Mynd44

CSTRR:
If anybody in buhari's inner circle, or appointed by him becomes president in 2023, I would give up on Nigerian issues.

By next week, I am going to sell two huge lands and invest it into American stocks and the dollar market.
Real estate in Nigeria is worth shit anyway due to the piss poor Naira.

Once I am done, I would have successfully divested my future from NIgeria and your economy.

If You people like, vote for buhari MK2, it would no longer be my business.

This is dictatorship and a very harsh one at that. Once it does affect the north as much as the south, they go ahead with any devilish policy the want to unleash. How can you force be to take Naira in exchange for dollar and at the same time influence the cost of Naira per Dollar?
And the devilish sugar cane in aso rock refuses to restructure. They will rather run the nation aground than allow FG do what they doing to oil to gold and other minerals. Sane people asked the bitter sugar cane looking figure to restructure, he termed it a threat. I give up on Buhari eternally.

Ajibel:
Ease of doing business which Osinbajo is championing is in contrast with these CBN policies by Emefiele

Osinbajo is a poster boy usually used to carry out PR stunts to launder d image of d govt. He knows d govt is a scam but he allows himself to be used as a tool to give Nigerians a false sense of hope. I find it difficult to understand how some nigerians still think osinbajo is better than d govt of which he is a part of. All those "ease of doing business" grammar, 10k tradermoni, school feeding programme, are just well articulated plots to keep Nigerians from seeing d evil& deception in d govt

Wicked and unproductive government always frustrating people's effort

Connoisseur:


Please refrain from making posts like this. It makes light of the whole situation.

Every export commodity is affected by this especially the ones in season.
A company that deals in sesame seeds and oil derivatives have over 150 containers stuck at the Onne port.

Imagine that in dollars and how it could help the dollar starved economy

I meant it. Why are borders in the south closed. Even farmers of tomatoes, pepper, poultry etc are affected.

The Southwest leaders recently asked for the borders closed since over a year ago opened. Since then, northern stome-filled, smelly rice are sold over #800 a bowl! Which is laughable since even polished rice was around 300 before south borders got closed.

Poultry farmers came out yesterday to say fowls could sell 10,000 this Christmas yet we're under this northern government whose policy is to make the north feed the south.

Good policy, bad implementation, why should it take 40days to get approval? Is it because it is not crude oil, leather and kolanut.?

dalass:


I meant it. Why are borders in the south closed. Even farmers of tomatoes, pepper, poultry etc are affected.

The Southwest leaders recently asked for the borders closed since over a year ago opened. Since then, northern stome-filled, smelly rice are sold over #800 a bowl! Which is laughable since even polished rice was around 300 before south borders got closed.

Poultry farmers came out yesterday to say fowls could sell 10,000 this Christmas yet we're under this northern government whose policy is to make the north feed the south.

Hmm days serious, we shud chop only cow meat?

prince2pac:
Buhari wetin Una wan turn we kwantri into

Waste land. You think those fulani care about this country. Just checked out how money flows from here to Niger republic

Building refineries etc