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Nairaland Forum / Nairaland / General / Business / Dollar Scarcity: Traders Throng Aba, Onitsha, Lagos, Kano Markets - Punch (38290 Views)
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Re: Dollar Scarcity: Traders Throng Aba, Onitsha, Lagos, Kano Markets - Punch by Dolypson04(m): 2:55pm On Feb 20, 2016 |
Some days ago, I asked a crucial question asking about how the likes of Korea survive the ridiculous increase in dollars to their Korean Won. (1USD = 1033 Korean Won). If they could be living at least far better than us in terms of economy, livelihood, power, etc. Then I think there should be a way out for us too. But first of all. we have to experience a shift from consuming nation to manufacturing nation. 2 Likes |
Re: Dollar Scarcity: Traders Throng Aba, Onitsha, Lagos, Kano Markets - Punch by truthisbittar12: 2:55pm On Feb 20, 2016 |
GOOD so that our domestic market will improve. long life PMB. the harder it goes the more benefit derive. 1 Like |
Re: Dollar Scarcity: Traders Throng Aba, Onitsha, Lagos, Kano Markets - Punch by Nobody: 2:56pm On Feb 20, 2016 |
sinkhole:Importation of machinery is at 197... They are termed necessity goods under the CBN policy 4 Likes |
Re: Dollar Scarcity: Traders Throng Aba, Onitsha, Lagos, Kano Markets - Punch by omonnakoda: 2:57pm On Feb 20, 2016 |
ratiken:You are the one who believes the economy is about dollars of whatever origin and so if there are no dollars there is no economy? No!! The exchange rate to the dollar is not all there is to the economy. All that rubbish about forex domiciled in Nigerian banks is fantasy. The forex market in Nigeria has been FUNDED by the CBN auctioning dollars EVERY WEEK. If you do not know find out. That quantum has diminished with oil revenues. During that regime of auctions Nigerians developed an appetite to consume all kinds of imports and that appetite is still raging like an unfulfilled erection.That is the situation and has nothing to do with so called investor funds 3 Likes |
Re: Dollar Scarcity: Traders Throng Aba, Onitsha, Lagos, Kano Markets - Punch by Nobody: 2:57pm On Feb 20, 2016 |
When Innoson starts complaining that all avenues to do legitimate business are blocked that is when we truly have a problem. For now, we are still cruising! |
Re: Dollar Scarcity: Traders Throng Aba, Onitsha, Lagos, Kano Markets - Punch by LordVoldemort(m): 2:57pm On Feb 20, 2016 |
HiddenShadow:
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Re: Dollar Scarcity: Traders Throng Aba, Onitsha, Lagos, Kano Markets - Punch by Nobody: 2:59pm On Feb 20, 2016 |
omonnakoda:Thanks for teaching the forgetful, our national history.lol |
Re: Dollar Scarcity: Traders Throng Aba, Onitsha, Lagos, Kano Markets - Punch by omonnakoda: 3:00pm On Feb 20, 2016 |
Nalikedis:There is a problem with that approach in Nigeria or any where for that matter it is susceptible to corruption. What I would recommend is actually banning or imposing duties on problem items and enforcing that and then allowing the currency to find its level. It is also not clear how much independence the CBN still retains ? |
Re: Dollar Scarcity: Traders Throng Aba, Onitsha, Lagos, Kano Markets - Punch by ePlanet: 3:01pm On Feb 20, 2016 |
Dear Lord, I thank you for everything, including this situation Nigeria is Experiencing, i Do bliv my time to Explode financially has come: Kindly Open my eyes to that one idea.....what can i create for the whole world, let me see it in this trying times. We are already providing services( from my signature) 2 Likes |
Re: Dollar Scarcity: Traders Throng Aba, Onitsha, Lagos, Kano Markets - Punch by Nobody: 3:08pm On Feb 20, 2016 |
TIME FOR LOCAL MANUFACTURERS TO PUNISH NIGERIANS FOR LONG YEARS OF NEGLECT...FROM N165-N400 IN LESS THAN 600DAYS, WE NEED ALL OF GODS INTERVENTION NOW. |
Re: Dollar Scarcity: Traders Throng Aba, Onitsha, Lagos, Kano Markets - Punch by ourchoice(m): 3:14pm On Feb 20, 2016 |
staldek7, fedupnigerian is one of the scammers scamming Nigerians online. SCAM ALERT: DON'T IGNORE, READ THIS THREAD SO YOU WON'T FALL FOR IT: https://www.nairaland.com/2946071/wickedness-nigerian-youths-stadelk7-sell |
Re: Dollar Scarcity: Traders Throng Aba, Onitsha, Lagos, Kano Markets - Punch by banmee(m): 3:16pm On Feb 20, 2016 |
tuale4u: It will mean nothing until; 1. Corruption is tackled. 2. Nigeria develops a taxation culture. 3. Completely changes it's mentality. It is too phucked up. |
Re: Dollar Scarcity: Traders Throng Aba, Onitsha, Lagos, Kano Markets - Punch by chigoizie7(m): 3:16pm On Feb 20, 2016 |
SLIDEwaxie: Sharp guy. Na only wrist watches be my own, Ee de too chop my money. I wan ask oh, all these fabrics used in making boxers, jersy and co, and d leather used on used wares, are they locally made in naija? |
Re: Dollar Scarcity: Traders Throng Aba, Onitsha, Lagos, Kano Markets - Punch by princejenks(m): 3:16pm On Feb 20, 2016 |
Flets:very true,they are only telling us one side of the story to suit their paymaster's ego while its his economic policies or lack of it is what is really fueling the confusion in the system |
Re: Dollar Scarcity: Traders Throng Aba, Onitsha, Lagos, Kano Markets - Punch by jeffizy(m): 3:21pm On Feb 20, 2016 |
SLIDEwaxie:Kindly accept a bottle of chilled moscato waxy. 1 Like |
Re: Dollar Scarcity: Traders Throng Aba, Onitsha, Lagos, Kano Markets - Punch by Nobody: 3:24pm On Feb 20, 2016 |
HiddenShadow:Who carry ss give you? 2 Likes |
Re: Dollar Scarcity: Traders Throng Aba, Onitsha, Lagos, Kano Markets - Punch by futurenix(m): 3:26pm On Feb 20, 2016 |
swtdrms: If that is what you think go and ask the price of your locally manufactured products and find out what is happening. Everyone is looking for an opportunity to become a millionaire. The local manufacturers are saying dollar is scarce and have increased the prices of their own goods. Let's stop misleading ourselves relying on local manufacturers cause most of them are even selling at a cost more than their foreign counterparts. |
Re: Dollar Scarcity: Traders Throng Aba, Onitsha, Lagos, Kano Markets - Punch by oduastates: 3:30pm On Feb 20, 2016 |
erico2k2: The China they keep it from was not always that much cheaper. They made the sacrifices |
Re: Dollar Scarcity: Traders Throng Aba, Onitsha, Lagos, Kano Markets - Punch by poiZon: 3:31pm On Feb 20, 2016 |
it might be funny but I think it is wise we start producing awa own dollars too locally. |
Re: Dollar Scarcity: Traders Throng Aba, Onitsha, Lagos, Kano Markets - Punch by 0taPiaPia(m): 3:34pm On Feb 20, 2016 |
ZeroTolerance: if he did so u will still complain he left SS out... or since its boom time SS is left out. |
Re: Dollar Scarcity: Traders Throng Aba, Onitsha, Lagos, Kano Markets - Punch by ayoola2002(m): 3:34pm On Feb 20, 2016 |
SLIDEwaxie:Thank u my broda, my Almighty God bless ur brain, hope some mumu way dey cry because of Dollar can learn here. #spendnairaandleavedollar |
Re: Dollar Scarcity: Traders Throng Aba, Onitsha, Lagos, Kano Markets - Punch by BlackPencil: 3:37pm On Feb 20, 2016 |
SLIDEwaxie:Lol.. See as u analyse am.. Make una dey dream |
Re: Dollar Scarcity: Traders Throng Aba, Onitsha, Lagos, Kano Markets - Punch by ken4jj(m): 3:39pm On Feb 20, 2016 |
Dolypson04: Manufacturing is not moimoi like people look at it. The cost of doing business in this country is too high and that is why importation is even flourishing. The world is now a global village. What you manufacture in Nigeria should be competitive with the rest of the world. If it cost N100 to produce a product here and it cost N50 to bring it to the nigerian market from elsewhere, which one will consumers want? For example, i have worked in manufacturing companies and it came a time when our manufacturing cost was compared to our 8 other branches in Asia, Europe and South America and we found out that our cost per carton was 3 times more expensive than the nearest one. The Global top directors were contemplating reducing our capacity here in Nigeria and increasing the ones in Asia so that the can produce a part of our volumes and ship to us. i do not know how it went because i left shortly. What i'm trying to say is that the most important issue for our manufacturing here is lack of supporting infrastructures. I remember our yearly energy budget was so high because of diesel and Gas. So until we can compete in cost with the rest of the world, forget it we can not make headway in manufacturing because it will be too expensive and importers will take advantage of it to bring cheaper products. But if our cost of production can compete with others, importation will die a natural death as it will be cheaper to produce locally. Why do you think that American Companies are flooding China? It is because it is cheaper to produce in China due to their low cost of labour. Will you say Americans in China are not patriotic? The loyalty of a business man lies in his profit and not sentiments. The earlier we fix our infrastructures,they better. 9 Likes 2 Shares |
Re: Dollar Scarcity: Traders Throng Aba, Onitsha, Lagos, Kano Markets - Punch by Nobody: 3:42pm On Feb 20, 2016 |
TOO MUCH LONG TALK,EVERYONE KNOWS THE PROBLEMS AND SOLUTIONS TO NIGERIA'S ECONOMIC PROBLEM(S). ITS IMPLEMENTATION IS WHERE WE ARE NOW...TODAY IS SATURDAY, SAY NO TO FROZEN FOODS OF ALL SORTS,SAY NO TO SHOPRITE,SAY NO TO DESIGNER WALLETS THAT STILL END UP STORING OLD NAIRA BILLS. |
Re: Dollar Scarcity: Traders Throng Aba, Onitsha, Lagos, Kano Markets - Punch by kennyman2000(m): 3:46pm On Feb 20, 2016 |
ken4jj: Thanks for this wonderful piece. 1 Like |
Re: Dollar Scarcity: Traders Throng Aba, Onitsha, Lagos, Kano Markets - Punch by myproperty(m): 3:47pm On Feb 20, 2016 |
Aufbauh:Are we really experiencing scarcity of forex? or are we actually experiencing hyper-inflation in which there is a fall in the value of our currency and a general increase in price |
Re: Dollar Scarcity: Traders Throng Aba, Onitsha, Lagos, Kano Markets - Punch by grandstar(m): 3:48pm On Feb 20, 2016 |
tuale4u: Boosting inefficient manufacturers that produce at high cost and who do not export. and can only thrive only when there are high protectionist walls. Countries prosper by exporting and not by Import substitution 1 Like |
Re: Dollar Scarcity: Traders Throng Aba, Onitsha, Lagos, Kano Markets - Punch by poiZon: 3:48pm On Feb 20, 2016 |
lets be factual n realistic, do we even manufacture at all in nigeria? lets tek electronics for instance, do we hv companies in nigeria that manufacture tv sets, radio, bulbs n other electronic n electrical appliances? the answer is No! lets enter clothing sector, first it starts with cotton to making fabrics, abeg do we grow cotton in large n commercial quantity in nigeria. THE ANSWEr again is No! the only sector that can fetch us forex now is agric sector, how much is d budget for that sector? lets stop all the lies we keep lying to ourselves, manufacturing in nigeria is dead unless u r talkng of normal pam slippers or shoes, local mats n pots, stoves n local cooking gas. hv not heard of locally made televison before which is one product that we realy need in this country. without television, propaganda wont travel far n fast. |
Re: Dollar Scarcity: Traders Throng Aba, Onitsha, Lagos, Kano Markets - Punch by NOETHNICITY(m): 3:51pm On Feb 20, 2016 |
HiddenShadow:yet ur brodas will. Say baba hates ur pple. He is. Indirectly favouring them now! |
Re: Dollar Scarcity: Traders Throng Aba, Onitsha, Lagos, Kano Markets - Punch by grandstar(m): 3:54pm On Feb 20, 2016 |
DeAfricana: Also, 52% of the imputs of the manufacturers are imported. So a scarcity will strike a devastating blow. to their operations.Visit abokifx.com and read articles about the currency |
Re: Dollar Scarcity: Traders Throng Aba, Onitsha, Lagos, Kano Markets - Punch by MrGerald(m): 4:00pm On Feb 20, 2016 |
chigoizie7:You're right, I used to be a freight forwarder, then our government restricted so many goods from entering through our seaports, having tagged them contra bound, but at the same time all those goods were being imported through our various borders, increasing the IGR of our neighboring countries, as then over 1000 loads of trailers leaves akpakpa seaports, Binin republic into Nigeria on daily basis |
Re: Dollar Scarcity: Traders Throng Aba, Onitsha, Lagos, Kano Markets - Punch by Arcard(m): 4:11pm On Feb 20, 2016 |
oduastates:na still import u go import am, way dm naija engineers |
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