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Nairaland Forum / Nairaland / General / Politics / Total Ban On Imports For A YEAR Selectives Follow Indefinitely (1079 Views)
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Total Ban On Imports For A YEAR Selectives Follow Indefinitely by jara: 10:43pm On Feb 02 |
Those old enough know how we got here. Ban importation for a year and institute restrictive importation thereafter followed by selective importation. No more foreign school fees through our Central Bank reserve if courses are available locally and ban foreign trips for Ministers and civil servants. Watch how euro and dollars will depreciate against Naira. If we do not, naira will turn to Zimbabwe dollars. 5 Likes |
Re: Total Ban On Imports For A YEAR Selectives Follow Indefinitely by jara: 12:40am On Feb 03 |
Re: Total Ban On Imports For A YEAR Selectives Follow Indefinitely by Throwback: 2:21am On Feb 03 |
jara: You are a wicked man who has come to understand that wicked measures are required to cure the wickedness inherent in Nigerians. Why domiciliary accounts are still allowed to make transactions besides receiving foreign remittances is beyond me. That Nigerians are still being allowed to use our Naira to be chasing dollars and pounds to spend on foreign education, is beyond belief. Only importation of products and technology that is required for industrial consumption to produce end products in Nigeria that has no alternative local source, is the only thing our dollars should be expended on at this stage of our forex crises. Left to me, I would have banned forex sales for foreign education with a 10yr embargo starting this 2024, with the exception of those already enrolled in foreign schools and would be making subsequent payments as they proceed in their academic program. 15 Likes 1 Share |
Re: Total Ban On Imports For A YEAR Selectives Follow Indefinitely by kettykin: 2:33am On Feb 03 |
After purchasing foreign cars for the executive , legislative and judiciary. You want to force the innocent populace to buy local. Very good proposal. The problem is not the proposal but people in government 2 Likes 3 Shares |
Re: Total Ban On Imports For A YEAR Selectives Follow Indefinitely by Onyiridike(f): 3:00am On Feb 03 |
Throwback:Who patronise foreign schools if not your leaders? Do poor Nigerians have the money for foreign schools? Who consumes foreign/imported goods? Your president is in France wasting scarce dollars. Don't we have good places in Nigeria for his holidays? What about the Lagos that he built? 10 Likes 1 Share |
Re: Total Ban On Imports For A YEAR Selectives Follow Indefinitely by oz4real83(m): 4:13am On Feb 03 |
When Buhari placed a ban on rice importation, I was among the people who hailed him, i thought it was an opportunity to be self-sufficient in our production . When I saw Buhari's ineptitude, cluelessness, wickedness, lack of empathy and corrupt tendencies after the ban, i knew Nigerians were on a sorrowful path. There is nothing on ground to improve local production of goods if we were to ban importation. Power=zero, refinery=zero, security=zero. Exchange rate=zero, inflation=very high 2 Likes |
Re: Total Ban On Imports For A YEAR Selectives Follow Indefinitely by Questionnaires(m): 4:35am On Feb 03 |
Throwback: You are very right and apt. It is a good thing cryptos have been approved in Nigeria for Profitable Arbitrage Transactions. People interested in running Profitable Arbitrage Transactions can leave Importation of Goods to focus on Crypto Arbitrage Transactions for Passive Profiting for now. The Sensitization Thread Link Below is A Good Guide: https://www.nairaland.com/7979611/yesterday-join-arbitrage-cartel-learn |
Re: Total Ban On Imports For A YEAR Selectives Follow Indefinitely by Straighttime: 5:01am On Feb 03 |
jara: Obasanjo did it for years, yet noting happened. It only made more people poor. We need to fix infrastructure and empower Nigerians into productivity. |
Re: Total Ban On Imports For A YEAR Selectives Follow Indefinitely by crestedmazi: 5:27am On Feb 03 |
This wan just dey shout ban like robot |
Re: Total Ban On Imports For A YEAR Selectives Follow Indefinitely by iLoveYouToo(m): 8:27am On Feb 03 |
People involved in the dollar trade are the ones killing the Naira, a certain group of Nigerians are hoarding dollars and not spending it 4 Likes |
Re: Total Ban On Imports For A YEAR Selectives Follow Indefinitely by mrvitalis(m): 8:33am On Feb 03 |
jara:Bloody socialists You guys are plain evil really... Socialism and socialist ideas should be illegal no wonder America made it so and progressed Import has never been the issue and never will The issue has always been what can you export 1 Like |
Re: Total Ban On Imports For A YEAR Selectives Follow Indefinitely by oskopy: 8:56am On Feb 03 |
Ban importation? Do you even know salaries are being paid from Money made from import duties? Without tican Ireland, water for don pass garri |
Re: Total Ban On Imports For A YEAR Selectives Follow Indefinitely by Paraman: 9:01am On Feb 03 |
jara:Buhari technically banned importation of lots of things, it didn't help the economy |
Re: Total Ban On Imports For A YEAR Selectives Follow Indefinitely by shoodboi2: 11:14am On Feb 03 |
All these economists that didn't even pass economics in secondary school. Maybe you should report to a newspaper stand where your skills of saying anything that comes into your head will be useful. 2 Likes |
Re: Total Ban On Imports For A YEAR Selectives Follow Indefinitely by DeLaRue: 11:52am On Feb 03 |
1. As a signatory to several international trade treaties, including those of WTO, we can't just wake up and ban goods import. If we do, we will be in breach of the treaties we signed over the past decades. Countries whose goods we ban will sue us at the WTO, and if we lose, we face paying huge fines. Until the case is determined, those countries can also retaliate and ban goods that we export. So it's lose lose for Nigeria. That was why Buhari couldn't ban importation of rice. His government only refused to provide foreign currency to those who wished to import rice. Also, a Nigerian, Okonjo Eweala is the Head of WTO, and Nigeria must have lobbied other countries for her to be elected. How can the same country turn round and say it no longer believes in WTO, it wants to ban goods imports from other countries. 2. If you ban things like school fees, black market dollars will become hot cake, even more than it is now, and that will send dollar rate skyrockettting. There are no easy solutions. |
Re: Total Ban On Imports For A YEAR Selectives Follow Indefinitely by ivolt: 1:08pm On Feb 03 |
Throwback:You really think there is something special about Nigeria's domiciliary accounts. If you place restrictions on it, people will stop deposits and Naira will massively sink. This is the age of USDT and international finance. You can operate a US or European bank account from anywhere you want. You will also be seen as impulsive and unreliable by foreign investors. There will be a massive drop on inflow. You are making a mistake, it is not your dollars if you didn't earn it. Let us assume you can do this(you can't for various reasons). You may choose not to sell dollar to students, but you can't stop them from buying from other sources. Perhaps you are thinking of banning BDC, black market and the rest but no inform person need those archaic methods to get forex. Anybody can be 100% digital without having anything to do with Nigeria bank and forex control. |
Re: Total Ban On Imports For A YEAR Selectives Follow Indefinitely by FoolishBoy419: 1:30pm On Feb 03 |
Throwback: I agree. We need drastic and cruel measures to save the Naira. Finding ways to make hoarding difficult is also needed but the problem is that our decision-makers are the biggest culprits. 2 Likes 1 Share |
Re: Total Ban On Imports For A YEAR Selectives Follow Indefinitely by malcom1X: 7:29pm On Feb 03 |
FoolishBoy419: The problem is not in the dollar |
Re: Total Ban On Imports For A YEAR Selectives Follow Indefinitely by jara: 3:21am On Feb 10 |
Re: Total Ban On Imports For A YEAR Selectives Follow Indefinitely by malcom1X: 1:11pm On Feb 13 |
jara: The problem is lack of Nigeria's export. But come to think of it, you no for like wear some nice jeans? |
Re: Total Ban On Imports For A YEAR Selectives Follow Indefinitely by Pythagoras001: 2:03pm On Feb 13 |
it would not reduce the demand for the dollar hence the price would not come down. what would happen would be that the black market rate would be much larger than the rate at the official windows because that were most of the demands would be met and then you go back to the old ways where few connected people get the dollar and then sell it at the black market. The idea of liberalizing the official window is to bring more people from the black market to the official market |
Re: Total Ban On Imports For A YEAR Selectives Follow Indefinitely by Contriman(m): 2:22pm On Feb 13 |
Goodluck manufacturing whatever importation you want to ban... U don't even have stable electricity to start with |
Re: Total Ban On Imports For A YEAR Selectives Follow Indefinitely by Contriman(m): 2:26pm On Feb 13 |
FoolishBoy419:uncle bubu did it twice in 19s and 2016 both times people face acute economic hardships my bruder if sniffnubu is to go with your proposal na people like u go suffer more,besides if sniffnubu was to get running stomach now he will fly to France |
Re: Total Ban On Imports For A YEAR Selectives Follow Indefinitely by jara: 2:26pm On Feb 13 |
May sound simplistic but this is the mentality of Nigerians. Desperadoes would buy dollars at any rate, no matter the risk. It is not new but to use that as excuses to keep US dollars flowing in, no matter the consequences, is new. Americans do not spend 100 or even 50 dollar bills. Most stores do not take them without crumbling. Yet, those bills are more abundant outside than inside America Why? You can only exchange them among high rollers to boost American economy while you drain your own country. Again, remember that what used to keep Naira at par with dollar was the punishment of smugglers of foreign currencies and foreign goods. malcom1X: |
Re: Total Ban On Imports For A YEAR Selectives Follow Indefinitely by banku: 5:41pm On Feb 29 |
Save the country from the importers of junks is the only dollar solution |
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