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Nairaland Forum / Nairaland / General / Business / Dollar Scarcity: Traders Throng Aba, Onitsha, Lagos, Kano Markets - Punch (38540 Views)
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Re: Dollar Scarcity: Traders Throng Aba, Onitsha, Lagos, Kano Markets - Punch by chigoizie7(m): 1:40pm On Feb 20, 2016 |
SLIDEwaxie: U made some cool points, like u said, always think ahead right? Do u think the dolar hike will remain like this till the end of the year? If YES, good, it also have some disadvantages(lets leave that out for now) If NO, which means it will still normalise. When it normalises, what will be d fate of those manufacturers when our ECOWAS neighbours and their ports and borders are open? Owing to the fact that we so much love foreign good, thus the campaign, #buynaijatogrownaira. U gave razor blade as an example, knowing fully well that thousands of other commodities are on the list and the ones no one produces here, weda aba made or fake as u mentioned. All the same, u ve a nice point, but until FG makes a policy/law to back these intending manufactures, nothing will go right. Even have to cut their policy on the ECOWAS free trade, it will still affect us, because even when we start producing, we need FX on exported goods. 2 Likes |
Re: Dollar Scarcity: Traders Throng Aba, Onitsha, Lagos, Kano Markets - Punch by oduastates: 1:43pm On Feb 20, 2016 |
Yielding the desired result |
Re: Dollar Scarcity: Traders Throng Aba, Onitsha, Lagos, Kano Markets - Punch by oduastates: 1:44pm On Feb 20, 2016 |
DeAfricana: We do not have factories, Abi ? Build them then 2 Likes |
Re: Dollar Scarcity: Traders Throng Aba, Onitsha, Lagos, Kano Markets - Punch by omonnakoda: 1:48pm On Feb 20, 2016 |
DeAfricana:But where will the dollars come from? We cannot continue consuming without producing when you eat in a restaurant at some point they will bring the bill. We feel entitled to consume without producing,not sustainable. How many Nigerians work in the oil industry or Nollywood ? The rest that do not are practically unproductive in dollar terms what gives them the right to consume goods bought in dollars? We need to tell ourselves some truths 2 Likes |
Re: Dollar Scarcity: Traders Throng Aba, Onitsha, Lagos, Kano Markets - Punch by SLIDEwaxie(m): 1:59pm On Feb 20, 2016 |
chigoizie7:In all my posts, I prefer using the razor blade as a common sense example. it shld be very simple to ingest. that was because someone was complaining and blaming the govt for the increase of tiger razor blades from 10naira to 20naira, instead of being ashamed that we still import razor blades!!!! the items that were banned were the ones that could be produced and sourced right within Nigeria (as far as a learned). imagine we import frozen turkeys and chickens!!! we import textiles and leathers!!!! let us be sincere, the price of dollar shldnt be our concern even if it is 2000 to a dollar by year end. thinks produced within the country can never be that expensive. go buy chicken from mama chuckwu's poultry, kill and eat!!! go buy leather shoes from aba, or from that cobbler down ur street and wear. go buy Nigerian Ankara and not England or London wax... as a youth, start producing razor blades...let us start exportation and people will have to convert their currencies to naira before they cld buy from us. the economics is simple...I jes hope many will understand. 11 Likes 1 Share |
Re: Dollar Scarcity: Traders Throng Aba, Onitsha, Lagos, Kano Markets - Punch by SLIDEwaxie(m): 2:01pm On Feb 20, 2016 |
oduastates:abi na...let him start small. 1 Like |
Re: Dollar Scarcity: Traders Throng Aba, Onitsha, Lagos, Kano Markets - Punch by asha80(m): 2:09pm On Feb 20, 2016 |
To be honest I understand what slidewaxie and oduastates are saying Let me use the leather industry for example the shoes being made in aba are done with leather up to 70% china instead of Nigerian leather..why the fccuk do we have to import leather to make our shoe when hides and skins from cattle can be transformed to leather needed for making of these shoes? Instead the of transforming those cattles hides to leather it is burnt and turned to kpomo! We go die if we no chop kpomo? Kpomo self is not nutritious to start with. 3 Likes 1 Share |
Re: Dollar Scarcity: Traders Throng Aba, Onitsha, Lagos, Kano Markets - Punch by chigoizie7(m): 2:12pm On Feb 20, 2016 |
SLIDEwaxie: U don't get it do u? I am exactly with you on your points. Without Govt policy all these economics won't work.aint we nigerians? I support bruce in #buynaijatogrownaira. But that is not enough without proper policies and control measures. 1 Like |
Re: Dollar Scarcity: Traders Throng Aba, Onitsha, Lagos, Kano Markets - Punch by erico2k2(m): 2:28pm On Feb 20, 2016 |
Ecoterrorism:They still need machinaries for production |
Re: Dollar Scarcity: Traders Throng Aba, Onitsha, Lagos, Kano Markets - Punch by SLIDEwaxie(m): 2:28pm On Feb 20, 2016 |
chigoizie7:i knw we are on the same page bro, and i am not actually using the word 'you' as an direct address to you. abt the policies and control measures. No, they are not! the policies are enuff though, but the control measures are not. but understand that the more firm the govt becomes, the more these people who don't understand, wails. I was telling someone that the dollar and its increase really didn't affect me! for example, I use damatol and soul mate for my hair. I use a Nigerian made perfume and roll-on. I wear aba made jeans except for two that are like 3500 each. that is even too much sef. I knw that my boxers are from Nigeria. they're sold for 300 each. I knw a company who make jersey boxers in Ogun State and I knw dem plenty for naija. my sandals no reach 2k and my bracelet na 50naira own for the hausa guys. it fits me fine. I stopped using wrist watch since 2010 when I bought a fake Rolex for 17k. all these things no cost and e no worry me. my Ankara no reach 4k per six yard and the tailor na 2k at most. I no dey design clothes. only my polo collections reach 4k each because I like them thick and colourful. I hardly worry abt wot people think I wear and I go still beat anyone hands down with my modest dressings. what I am saying is ds: the policies are in place but the control measures are not yet stringent... but we need to start seeing the beauty in what we produce and stop worrying abt impressing others. overall, I realised that na the poor people dey shout because the rich ones still dey buy at that increased price. now, leave the rich to buy with all convenience and let the remaining follow me go local. when person wan carry load wey e no fit carry, na dt time he dey complain of neck pain. 12 Likes 1 Share |
Re: Dollar Scarcity: Traders Throng Aba, Onitsha, Lagos, Kano Markets - Punch by erico2k2(m): 2:30pm On Feb 20, 2016 |
asha80:Simple Economics,it's cheaper to get it from china to thier shop than getting it from Kano .take MAF for example it's cheaper to get it from china than Nigeria..So we need strong economic policies like tax breaks to help. 1 Like |
Re: Dollar Scarcity: Traders Throng Aba, Onitsha, Lagos, Kano Markets - Punch by olamonsor2: 2:31pm On Feb 20, 2016 |
HiddenShadow:U get sense. |
Re: Dollar Scarcity: Traders Throng Aba, Onitsha, Lagos, Kano Markets - Punch by olamonsor2: 2:31pm On Feb 20, 2016 |
HiddenShadow:U get sense. |
Re: Dollar Scarcity: Traders Throng Aba, Onitsha, Lagos, Kano Markets - Punch by oduastates: 2:32pm On Feb 20, 2016 |
SLIDEwaxie: Thank you for bringing up the razor blade matter. Razor blade making machine cost only $17000 Saw tooth making machine $2000 Conveyor belt making machine $20000 - $200000 4 Likes |
Re: Dollar Scarcity: Traders Throng Aba, Onitsha, Lagos, Kano Markets - Punch by menix(m): 2:33pm On Feb 20, 2016 |
See opportunity to sell fake dollars... #corruptmind.... |
Re: Dollar Scarcity: Traders Throng Aba, Onitsha, Lagos, Kano Markets - Punch by idowuswap: 2:34pm On Feb 20, 2016 |
Beware of igbo.marijuan.india hemp...tribe...they are dangerous |
Re: Dollar Scarcity: Traders Throng Aba, Onitsha, Lagos, Kano Markets - Punch by Nobody: 2:35pm On Feb 20, 2016 |
MAKE UNA DEY DECIEVE UNA SELF.....IMPORTED PRODUCT ARE CHEAPER THAN MADE IN NIGERIA PRODUCT WHEN U MINUS HEAVY DUTY FROM CORRUPT CUSTOM AGENTS 2 Likes |
Re: Dollar Scarcity: Traders Throng Aba, Onitsha, Lagos, Kano Markets - Punch by highmood(m): 2:36pm On Feb 20, 2016 |
The traders are thronging those commercial cities only for raw materials and not for finished goods. I think if Punch Newspaper should go for a good survey, it would find out how bad the market situation is and how the traders of finished goods are complaining. Though the President's economic policies may not be good but, rather than the dollarization of our economy, I think local business men and women should seize this opportunity and invest in Nigeria. And to those Indians and Chinese complaining of our economy as if it is theirs, they should seize this opportunity and build industries and factories in Nigeria rather carting our money abroad thereby making our Naira more weaker. 1 Like |
Re: Dollar Scarcity: Traders Throng Aba, Onitsha, Lagos, Kano Markets - Punch by sheubaba2013: 2:37pm On Feb 20, 2016 |
A blessing in disguised? 1 Like 1 Share |
Re: Dollar Scarcity: Traders Throng Aba, Onitsha, Lagos, Kano Markets - Punch by FirstCounsel(m): 2:38pm On Feb 20, 2016 |
egopersonified: |
Re: Dollar Scarcity: Traders Throng Aba, Onitsha, Lagos, Kano Markets - Punch by TippyTop(m): 2:39pm On Feb 20, 2016 |
Flets: Gbam!!!! Give this man a crate of origin. 1 Like |
Re: Dollar Scarcity: Traders Throng Aba, Onitsha, Lagos, Kano Markets - Punch by hottathanfire(m): 2:39pm On Feb 20, 2016 |
The implication: Nigerians will patronize Nigerians, Our money will stay with us and wealth will be created, There will be need for local manufacturers to step up their game to meet market demands, Our industries will now have markets to serve, Industrialisation will explode-BOOM-- Nigerians, gold passed through fire before it became a luxury! Things will change for sure... |
Re: Dollar Scarcity: Traders Throng Aba, Onitsha, Lagos, Kano Markets - Punch by viktor01(m): 2:43pm On Feb 20, 2016 |
I like this. All these big men that be fronting as if they would die if they used a made in Nigerian toothbrush. l love this....#teamNigerianmade# 2 Likes |
Re: Dollar Scarcity: Traders Throng Aba, Onitsha, Lagos, Kano Markets - Punch by LydayBobo(m): 2:43pm On Feb 20, 2016 |
sinkhole:my brother please visit agbotikuyo street in Agege Lagos and see what guys are doing. Give those guys any design and watch them produce it |
Re: Dollar Scarcity: Traders Throng Aba, Onitsha, Lagos, Kano Markets - Punch by omonnakoda: 2:45pm On Feb 20, 2016 |
Flets:Can you define what you mean by investor funds? Since when did investor funds contribute 60% of funding for consumption .What is the source of this 60% claim? Where did you get that from why not 90% where did you get that from. You are correct Nigerians are not aware because it is bogus and made up by you,a baseless and meaningless fabrication!! You claim there has been capital flight. How much exactly? It is easy to spout rubbish to the uninformed. Please tell us exactly WHERE the capital is fleeing to. Tell us which economy in the world is or which Bourse is doing well right now? Personally I am not a supporter of Buhari and his economic direction and I am not here to defend him but I am here t defend rationality and common sense which are completely lacking in what you have to say. Tell us which SECTORS of the Nigerian economy specifically are affected by this capital flight 1 Like |
Re: Dollar Scarcity: Traders Throng Aba, Onitsha, Lagos, Kano Markets - Punch by ratiken(m): 2:45pm On Feb 20, 2016 |
mrmetoo1: That guy is right. You are thinking like Buhari who believes the economy is only about crude oil dollars. Communication, automobile, ICT, finance sectors have key investors whose forex were domiciled in Nigerian banks. Those monies are all gone as nobody is furthering investments. 1 Like |
Re: Dollar Scarcity: Traders Throng Aba, Onitsha, Lagos, Kano Markets - Punch by dungburu: 2:50pm On Feb 20, 2016 |
Am learning economics on nairaland o. That's great! 2 Likes |
Re: Dollar Scarcity: Traders Throng Aba, Onitsha, Lagos, Kano Markets - Punch by afroxyz: 2:50pm On Feb 20, 2016 |
My problem with most Nigerians is that they don't see this as a huge business opportunity to be tapped into. We are still crying dollar when we are supposed to be thinking about how to benefit from the scarcity of foreign products by manufacturing indigenous alternatives 2 Likes |
Re: Dollar Scarcity: Traders Throng Aba, Onitsha, Lagos, Kano Markets - Punch by anachy: 2:52pm On Feb 20, 2016 |
NavierStokes:from old stocks. |
Re: Dollar Scarcity: Traders Throng Aba, Onitsha, Lagos, Kano Markets - Punch by missKiffy(f): 2:52pm On Feb 20, 2016 |
This is a blessing in disguise |
Re: Dollar Scarcity: Traders Throng Aba, Onitsha, Lagos, Kano Markets - Punch by Mekyno(m): 2:54pm On Feb 20, 2016 |
tuale4u:. Dats gud news, jst dat all d organisation responsible for standardisation of goods (n services) in nigeria should be up and doings, and nigeria will set off on a good journey. |
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