Complaining ,,, what can you produce in your country?
I hope cars would be more cheaper now. I'm waiting to buy one. By God's grace

Ugosample:


these Chinese guys are looking for ways to further siphon out forex

not to talk about quality concerns from China
those guys are unscrupulous you know

And of course the effect of dumping.

Whose fault is it that we are still importing tooth pick? They are not just siphoning FX, they are also ridding their country of petrol-cars. Since we have made up our minds to be stuck in the medieval era, lets manage these effects, ehn.

Hopefully, our leaders will ensure these cars are of good quality. If they don't, I expect car buyers to do their own due diligence.

pocohantas:


Economically, there is something called COMPARATIVE COST ADVANTAGE. That is what China and some other Asian-producing-countries have.

You just don't clamp down on importation because you think it is the smart thing to do and go ahead to start producing locally.

Can you produce effectivaly locally?
Can you balance price and meet up with demand?

A country like Nigeria that can't even boast of 5hrs electricity across the nation, not forgetting other indices that facilitates basic production, let alone that of cars...should fix her affairs first. After that, we can cry about dumping.

Till then, this is a greek gift, we know, but we can't reject it.

I never said Nigeria shouldn't be a dumping ground.Effective manufacturing does not happen overnight!
I only pointed out the fact that you saying or implying the term "dumping ground" is for old,rejected cargo/commodity sold to another country to be wrong.
Even brand new products that flood a particular market due to economic reasons advantageous to the producer or producing country mostly can be referred to as dumping.
That was my point.
Isn't what I said about China about comparative cost advantage?
It will be improper/a taboo to say or imply that I don't know what it is.trust me,I know too well

Logobenz2:
I never said Nigeria shouldn't be a dumping ground.Effective manufacturing does not happen overnight!
I only pointed out the fact that you saying or implying the term "dumping ground" is for old,rejected cargo/commodity sold to another country to be wrong.
Even brand new products that flood a particular market due to economic reasons advantageous to the producer or producing country mostly can be referred to as dumping.
That was my point.

Your point wasn't in contest, neither was it the context of my post. Thank you.

Logobenz2:
I think you should address the dumping ground more economically inclined that looking at the general meaning of the word.
China is very economically strong at the moment.that means more of its people are making more money than they need,so they will sell things that they have used cheaper than every other state.
Naira on the other hand is relatively strong to the yuan than it is to most other major currencies,money degree differences included in this statement.
So what do you think will happen when the Chinese open it's used cars and products market to the Nigerian market?
Of course more Nigerians will go to China to buy used commodity than they have ever before or would from any other country thereby flooding the Nigerian market with commodity(especially cars) used in China.
So doesn't that validate the dumping ground statement?
Even flooding markets with brand new products(cars,electronics,etc..) Is still regarded as dumping economically,if it is too cheap to purchase by other countries(basically import)
So whoever made that statement was right.
Correct me if I'm wrong though.

Economically, that's not the real meaning of dumping. Dumping is the act of exporting commodities to a domestic country and selling it at a price that is lower than what's obtainable in that country. This will asphyxiate the domestic economy.


Assuming China exported those cars to Nigeria and the cars are now sold for an amount that is lesser compared to Innoson, that's dumping. Since Innoson is made in Nigeria, if cars that are imported are sold for a price less than that of Innoson, people would jettison Innoson for those other foreign cars of same quality. My brother, this is what is referred to as 'dumping' in Economics.

#Sola

Jackossky:




Economically, that's not the real meaning of dumping. Dumping is the act of exporting commodities to a domestic country and selling it at a price that is lower than what's obtainable in that country. This will asphyxiate the domestic economy.


Assuming China exported those cars to Nigeria and the cars are now sold for an amount that is lesser compared to Innoson, that's dumping. Since Innoson is made in Nigeria, if cars that are imported are sold for a price less than that of Innoson, people would jettison Innoson for those other foreign cars of same quality. My brother, this is what is referred to as 'dumping' in Economics.

#Sola

Read what I wrote properly and try to understand it.
Business is not about textbook definitions!sometimes you've got to draw similarities and put 2 and 2 together.
And what makes you think the already assembled,China import won't be cheaper than innoson?

Shithole

I just can't stop laughing oo

N.I.G.E.R.I.A

momodub:
Hummm they are cleaning their country for electric cars

exactly

pocohantas:


Your point wasn't in contest, neither was it the context. Thank you.

by all means,tell me how my point was out of context then.
Or are you Lionel Robbins that I will just assume your verdict for standard?
When it comes to debates,bring facts please.
I'm sure you know or should know this.
And your thank you in the end sounded stupid btw.

Sagay212:
Most Nigerians can't even afford 3rd hand cars let alone tokunbo cars. Brand new cars for many Nigerians na no go area. Even the few you see driving luxury cars are actually driving good grade tokunbo luxury cars.

Poverty don finish Nigerians kpatakpata. All those ones making noise that you can buy brand new car and pay in instalments. You want to buy a car of over 3 or 4 million and be paying for how many months exactly, abi you forget say you go dey maintain and service the car? Abi no be the same Nigerians way dey always find cars wey no chop fuel? Lol...people wey get over 900 to 1.5 million to.buy car but nor wan buy fuel...na God go really punish our leaders. Almost everybody dey use their cars carry passengers for bustop now....owu wan kill them.

very deep

Logobenz2:
Read what I wrote properly and try to understand it.
Business is not about textbook definitions!sometimes you've got to draw similarities and put 2 and 2 together.
And what makes you think the already assembled,China import won't be cheaper than innoson?

My bad.

I'm sorry, as an economics student, I feel obliged to correct any misusage of the word. It's just like you seeing a term in your field being used erroneously. There will be that rush to correct such abnormally and oh! That wasn't a textbook definition, that's because I hate reading textbooks for they seem too bulky and I barely know how to define what's in the textbook. Some are not gifted with cramming

Do have a nice night, just wanted to enlighten others on the real meaning of dumping, and since you claim to already know it, adios Baba.

Use car to shit hole,
When will nigeria will export tokunbo to china & US?

Jackossky:


My bad.

I'm sorry, as an economics student, I felt obliged to correct any misusage of the word. It's just like you seeing a term in your field being used erroneously. There will be that rush to correct such abnormally and oh! That wasn't a textbook definition, that's because I hate reading textbooks for they seem too bulky.

Do have a nice night, just wanted to enlighten others on the real meaning of dumping, and since you claim to already know it, adios Baba.

I don't claim to know what dumping Is,I know what it is since I have actually participated in it,being someone very active in the commodity business.
When the naira was floated back in 2016,a lot of our neighbouring countries suffered dumping from Nigeria since Nigerian goods suddenly became too affordable for these guys due to monetary policies by the CBN.
What caused the dumping?monetary policy of course.
Were all the products exported from Nigeria due to that sudden naira freefall have producers of them domiciled in those countries?
Even things that have never been exported from Nigeria to those places started going there all of a sudden.
So by your definition those products that were exported to those places asides the ones having local producers of it in those countries won'tbe referred to as dumping?
I was talking real life economics,not classroom economics.

Sagay212:
Most Nigerians can't even afford 3rd hand cars let alone tokunbo cars. Brand new cars for many Nigerians na no go area. Even the few you see driving luxury cars are actually driving good grade tokunbo luxury cars.

Poverty don finish Nigerians kpatakpata. All those ones making noise that you can buy brand new car and pay in instalments. You want to buy a car of over 3 or 4 million and be paying for how many months exactly, abi you forget say you go dey maintain and service the car? Abi no be the same Nigerians way dey always find cars wey no chop fuel? Lol...people wey get over 900 to 1.5 million to.buy car but nor wan buy fuel...na God go really punish our leaders. Almost everybody dey use their cars carry passengers for bustop now....owu wan kill them.

The bolded part cracked me up.

Logobenz2:
I don't claim to know what dumping Is,I know what it is since I have actually participated in it,being someone very active in the commodity business.
When the naira was floated back in 2016,a lot of our neighbouring countries suffered dumping from Nigeria since Nigerian goods suddenly became too affordable for these guys due to monetary policies by the CBN.
What caused the dumping?monetary policy of course.
Were all the products exported from Nigeria due to that sudden naira freefall have producers of them domiciled in those countries?
Even things that have never been exported from Nigeria to those places started going there all of a sudden.
So by your definition those products that were exported to those places asides the ones having local producers of it in those countries won'tbe referred to as dumping?
I was talking real life economics,not classroom economics.

Ok Sir.
I don't want to overflog this issue, from what you wrote up there, guess it's my comprehension skill. Feeling something like a migraine, now, that's not because of your language usage but because you keep mixing up terms.

Monetary policy it is Boss. I domo you.

Have a nice night.

#Sola

Jackossky:


Ok Sir.
I don't want to overflog this issue, from what you wrote up there, guess it's my comprehension skill. Feeling something like a migraine, now, that's not because of your language usage but because you keep mixing up terms.

Monetary policy it is Boss. I domo you.

Have a nice night.

#Sola

You can't overflog something that is right na.
You should go find the cause of your migraine because it's definitely not my economics.
The only thing that encourages/causes dumping is the money market/monetary policy,nothing else.
Then everything sellable in the dumping ground will start being exported there from the other nation.
If your economics teachers were so good at what they teach,trust me,they won't still be there in those filthy classrooms teaching penniless students and extorting 10k from them as "sorting money" aka egunje.
Wishing you a good night rest from here too.

Enough of this dumping ground talk until we can manufacture our own cars
Fairly used cars are also sold in the US too.

This is an opportunity for many Nigerians to actually own a car. Remember what China phones are doing for us

Even this small used car importation hustle wey boys dey use hold bele, China want corner am too?

Trust ignorant people who believe in belonging no matter how to come and hail this move. Nigeria needs to educate her youths. They judge by face value. More than half her population are illiterates when it comes to economics, international affairs and politics.

Logobenz2:
I don't claim to know what dumping Is,I know what it is since I have actually participated in it,being someone very active in the commodity business.
When the naira was floated back in 2016,a lot of our neighbouring countries suffered dumping from Nigeria since Nigerian goods suddenly became too affordable for these guys due to monetary policies by the CBN.
What caused the dumping?monetary policy of course.
Were all the products exported from Nigeria due to that sudden naira freefall have producers of them domiciled in those countries?
Even things that have never been exported from Nigeria to those places started going there all of a sudden.
So by your definition those products that were exported to those places asides the ones having local producers of it in those countries won'tbe referred to as dumping?
I was talking real life economics,not classroom economics.

That is not dumping. That is importation. Dumping is when a country has grown above a certain standard of product (Waste or trash) and they have no means of discarding them, or if the process of discarding them will cost a huge sum, they sell them for cheap to other countries who are willing to take them in. eg if you guys used to use plastic articles in your village before but now you have started using china plates or if you guys just mass produce these items so much so that your houses, streets, refuse bins etc is overflowing with plastic bottles and plastic plates. These plates and bottles start taking too much space in your home and to discard them, you will have to pay someone to take them away or build an incinerator to recycle or dispose of them properly the next alternative is to look for a poor community or country who will accept your trash and pay you some small change in exchange. Thereby saving you time and money you would have spent in recycling or discarding them. Lets see what types of cars, Class and quality they plan to bring in

China is gradually taking over Nigeria! China filled our markets with inferior goods! And very soon it will start exporting inferior cars to Nigeria.

correctyourself:


Can you afford a new car? Talk is cheap.

I weak for them o. If them no buy from a China then it will come from US and Europe

Automotive1:


World's biggest automotive market, China, has commenced the export of used cars to Africa, Asia and Europe, with Nigeria among the destinations for the first batch of 300 cars.

According to China’s Ministry of Commerce, the first batch of the 300 exported used cars, which comprises brands from Land Rover, Toyota, Hyundai, Volkswagen, Trumpchi, King Long, Yutong, Zhongtong and WOHO, have a total value of $2.5 million.

They second hand cars are being taken to destinations that include the Lagos port (Nigeria), Sihanoukville Autonomous port (Cambodia), Rangoon Port (Myanmar) and Vorsino and Saint-Petersburg ports (Russia).



Until now, the world's biggest automotive industry had been uninvolved in selling used cars abroad. A statement obtained from China’s Ministry of Commerce, said:

.

https://autojosh.com/china-begins-export-of-second-hand-cars-to-nigeria/

Why wont they ship them to Nigeria, when the whole world is moving to Electric cars, we are here still battling with constant electricity. Naija the dump site

See the way China wan scatter market for US second hand cars. This Na part of the trade war with Amerika. Game on.

Owutuotuo:
China keying to a yawning advantage by ripping us of our hard earned forex. If government does not place stringent duties [/b]on these cars, the new companies built for assemblage will crumble right in our faces.
This is a spillage from the trade war with the US -two fighting elephants with the grass suffering. May we learn on time before it gets unbearably worse.

I do not believe in the bolded above...you'll be creating more burden on our inadequate custom officers...I'll rather proffer we fix the remaining %6 completion ajaokuta steel and get [b]power sorted through the recently signed Siemens agreement and we are good to go...

The western world are aware of the potentials Nigeria possess(es) and that's why they foist on us greedy inept leaders

DedeNkem:
China is gradually taking over Nigeria! China filled our markets with inferior goods! And very soon it will start exporting inferior cars to Nigeria.

Na u wan buy inferior.... Genuine chinko dey...American standard... Nah money u go pay

yeman1:
Complaining ,,, what can you produce in your country?
I hope cars would be more cheaper now. I'm waiting to buy one. By God's grace

Nope...the government is lame in ineptitudes, lack ideas...so the only source of revenue to shore up deficit in budget is to raise taxes through custom duties.. Ideally used cars suppose no pass N600k-700k....but u go pay N700k clearance on top corolla 09...
Insidelife

ridonebabat:
Nigeria, an official dumping ground

Did you not read that countries abroad used to be there dumping ground. For economic and commercial value they have decided to shift to Africa and Nigeria being at the front gear.

delishpot:


That is not dumping. That is importation. Dumping is when a country has grown above a certain standard of product (Waste or trash) and they have no means of discarding them, or if the process of discarding them will cost a huge sum, they sell them for cheap to other countries who are willing to take them in. eg if you guys used to use plastic articles in your village before but now you have started using china plates or if you guys just mass produce these items so much so that your houses, streets, refuse bins etc is overflowing with plastic bottles and plastic plates. These plates and bottles start taking too much space in your home and to discard them, you will have to pay someone to take them away or build an incinerator to recycle or dispose of them properly the next alternative is to look for a poor community or country who will accept your trash and pay you some small change in exchange. Thereby saving you time and money you would have spent in recycling or discarding them. Lets see what types of cars, Class and quality they plan to bring in

Take your stupidity out of my mentions!
Such a dumbass.spits

Those complaining of dumping ground are the same people who go to Cotonou and buy the one US dump for us with high exchange rate or in Tin can.
Have we ask ourselves why is all the Toks coming from US when when they not manufacturing them all.
There is a trade war between China and US that's why we are even getting this.

qualityGod:
Nigeria dumping ground as usual

Ftc thank God oooo


China made use of their human capital investment properly but ours is a curse to our greedy leaders .

They are cleaning up there environment to usher in electric cars. They have a standing policy to stop using gasoline car by year 2020a

qualityGod:
Nigeria dumping ground as usual

Ftc thank God oooo


China made use of their human capital investment properly but ours is a curse to our greedy leaders .

They are just getting ready for the green evolution. Decongesting there country of combustion engine automobiles in resdiness for total embrace of electric and solar automobiles. And some country are seeing this as a previledge ?