Emeks008:
This is what former cbn deputy gov said about peter obi economics plan.

If you read in between the line of what Reno tweeted above, he deliberately highlighted some two section of Nigeria which is North and south west. He made mentioned of Dangote tomato paste factory in Kano, Textile company in kaduna/Kano and some factories in Ogun and Lagos. He made it looks like peter obi policy will adversily affect Hausa/Fulani and Yorubas companies.

This guy is trying all his best to makes other tribes to hate Peter obi.

We are wiser now. His plan won't work.

Heffalump:


Obi is not crazy. There's positive economic analysis about the idea of removing import restrictions. With the restrictions in place, what's the state of the economy now? Compare the situations before and after the restrictions.
There are several ways of growing the economy, not by one-sided restriction.
I know he'll come out and explain this position better someday. Be patient.

SocialJustice:
Sophistry, wow. Reno is desperate.

Peter Obi's plan will flood the market with dollar as people resume sending dollar through banks.

Eventually there will be excess dollars in the system and the price of dollars will start falling as buyers and sellers regulate the price.

This will also increase government revenue. Nigeria currently converts dollar at 450+ but it will shoot to 730+ per dollar for the initial float period until fx market stabilises.

GavelSlam:


YOU ARE A LIAR.

WHEN SOMEONE ASKS YOU WHAT YOUR FAKE BROTHER PRODUCES, YOU WOULD RUN AWAY.

AK481:
olodo reno.

restriction of FX should be removed.
the diaspora should send all its fx to nigeria for production so that it will help to create a suplur of dollar and give the naira more value.

this is technical ,so you don't expect agbado people to understand

richidinho:


From 2007 - 2015 import restriction was removed

Foreign rice. 50kg N9,000
Local rice. 50kg. N4,000


From 2015 till date import is restricted
Foreign rice. 50kg N35,000
Local rice. 50kg. N30,000

Obi is right

Millionjeff:


Please can u offer an alternative analysis. As an undecided voter,I needed more facts to vote your candidate. please your analysis should be issue based.
For your information I got no candidates because Nigeria problem is systemic rather individual.

odoemenacelevian:
Reno didn't read economics unlike Peter Obi who has a PHD in economics..

Reno should follow those runs girls he have lashing

GeneralPula:
As for those saying USA doesn’t restrict imports, they’re wrong..

GeneralPula:

Mention one product to justify your $5/$100 analysis?

ElSudani:


How far back can you look? Nigerian economy is the largest in Africa, though I agree many Nigerians are not feeling it yet but it has not always been like that.
The idea of looking inwards and actually making it happen started with Babangida's SAP, it was painful but think about the trajectory of the country since then.
Slow but steady progress is being made in terms of local production of goods. If Obi should reverse this, it is back to square one for manufacturers in Nigeria. The first people to be wiped out are small scale manufacturers like those in Obi's Anambra and the South east. Big ones like Innoson will soon follow.

baresi22:
I have lived and worked in United Kingdom, Australia and Canada. Most Western countries remove import and export restrictions. You only increase the import duties of some targeted items so as to encourage local production. For example, if you restrict importation of cars, local manufacturing companies cannot meet up with demand in Nigeria. You will encourage smuggling and other vices and short-change yourself by not getting revenue from import duties.

In my opinion, removing these restrictions is something that should be encouraged, while one creating an investor friendly country.

It is usually only when advanced nations want to sanction some countries that they implement ban or restrictions.

The main things that can save Nigeria is to reduce cost of governance, reduce corruption by block leakages using technology,investment in regenerative projects, exploring renewable energy sources and finally vote for a good leader. From my observations among the leading candidates, only Peter seems to show commitment and understanding of how to effect the much needed change.

FlyoruB:
A Peter Obi presidency would usher in an era 'Container economics', whereby our struggling local industries would be killed off completely to make way for the dumping of foreign goods that can otherwise be produced locally and exported for foreign exchange. That's enough reason not to vote for that Pandora fraudster.

penultimatee:
Okay,I stand with reno on this.How can we be importing what we can produce locally here in Nigeria.Its like we are empowering foreign currency on our own currency detriment.

bdon123:

most tins in US n uk come frm china...dont decieve urself.They also choose where to restrict.

bdon123:

most tins in US n uk come frm china...dont decieve urself.They also choose where to restrict.

GeneralPula:
As for those saying USA doesn’t restrict imports, they’re wrong..

asanausana91:
don't forget that the man that said he will change Nigeria from consumption to production country is the one that said this rubbish. How can you change Nigeria from consumption to production by importing rubbish from outside? Iam suprise that intelligent people like you are supporting this rubbish.

Tinubuadvocate:
I have said it time without number that my father is senseless and dull.

SUFFERInSMILIIN:


Ask yourself why is the dirt in the country so huge since this current administration came in. It is borrowing to produce. When Nigeria was importing rice every year it was 5 to 10 billion US dollar now we are borrowing up to 12 billion to produce the rice which we could buy for 5 billion. The death in the nation is hovering around 120 billion u.s. dollar. Have you asked yourself how do we go from 20 billion to 120 billion in a couple of years. What happens in industry which is supposed to be worth five million u.s. dollars to build they will borrow 100 million u.s. dollar beauty industry use the remaining money to buy houses out of the country. Look at all the companies today look at all the Industries today in Nigeria if you sell them you cannot even play that the death of those companies. Let me give you just one example look at eko Atlantic it is 300% over budget and 22% complete if you even sell the project today how much will you sell it for when left that the money which was used to build it the rice meal which is being built it is also the same thing, if you sell this rice meal you cannot even pay 20% of the money which was borrowed to establish it . You forgot night tell you forgot Elijah Steel plant you forgot Nigerian Airways what happened to the tens of billions of US dollar from these companies to establish and how much were they sold for 0. This is why I told you borrowing hundred US dollar to produce a product $5. Look at innocent Motors some of those same vehicles which day are assembling you find them in China being sold for at least 40% cheaper. Look at the dangote huwa trucks which he is assembling you can find it 40% cheaper if you buy it direct from China the products are expensive because they are borrowed money to establish the company's

richidinho:


From 2007 - 2015 import restriction was removed

Foreign rice. 50kg N9,000
Local rice. 50kg. N4,000


From 2015 till date import is restricted
Foreign rice. 50kg N35,000
Local rice. 50kg. N30,000

Obi is right
Wish I can give this a thousand likes

Jestin:
Obi is coming

Heffalump:


You keep referring to SAP propounded by the erstwhile military dictator, IBB as a good policy that laid the foundation of good government. FYI, SAP was the genesis of Nigerian economic woes that has metamorphosed into the current state

SpecialAdviser:
Reno is an inconsequential he-goat who think Nigerian youths can still be deceived by the lies of him and Atiku.

We are OBIDIENT already. APC/PDP can go and die