Welcome To Gistmania, Feel Free To Start A New Topic Or Reply To Current Topics On The Forum
Please Register or Login

Increase In Importation of Wheat Grains and flour In Nigeria


[1] 2
Increase In Importation of Wheat Grains and flour In Nigeria on: 21 Aug 12, 12:40 PM (3 years ago) by
ProfBSoyinka (4 | Newbie)
(m)

INCREASED IMPORT DUTY ON WHEAT GRAINS to 20% AND FLOUR TO 100%: NIGERIANS TO PAY MORE FOR BREAD, PASTA, NOODLES, and BISCUIT OTHER ALLIED PRODUCTS



There is no doubt that this will bring about another phase of untold hardship and aggravated suffering on the already over-burdened Nigerian populace who are just adjusting to realities of the January hike  in prices of Petrol warranted by the aborted outright removal of fuel subsidy.

With the increment of the import duty on Wheat as contained in the 2012 Appropriation Bill that was recently presented the average Nigerian is definitely in for a new high price regime for staple food items such as Bread, Spaghetti, Noodles, Pastries and allied product made from wheat flour.

The Government explained that there was no way the country could experience the desired growth in the face of unbridled importation of consumer items and specifically stated that jacking up of the duties was intended to challenge Nigerian farmers on the need to work harder so that Nigeria can become sufficient in food production.

The reason posted for the increase in the duties on these commodities was to promote the usage of Cassava flour which is locally produced. According to the government, this will lead to a marginal growth in the country’s Gross Domestic Product (GDP) and save the country some earnings by reducing importation.

The Government explained that there was no way the country could experience the desired growth in the face of unbridled importation of consumer items and specifically stated that jacking up of the duties was intended to challenge Nigerian farmers on the need to work harder so that Nigeria can become sufficient in food production.

“It is common wisdom that the best way we can grow our economy and create jobs for our people is for us to patronise Nigerian made goods. This is why we are introducing enabling policies to drive this process”
Impact on Wheat Imports
The GON has consistently stated that the primary goal of the new cassava policy is to cut wheat imports by 40% by 2015 to conserve foreign exchange earnings and increase employment. The GON estimates wheat imports to be worth N635 billion (about $4.2bn) in 2011. These figures, even if they include cost, freight, insurance and duty, are overstated to demonstrate that wheat imports hurt Nigeria’s foreign exchange earnings and worsen the rate of unemployment. In actuality, no more than $1.8 billion is spent on wheat imports annually using the same cost, freight, insurance and duty schedule. Successful implementation of this policy will result in a significant reduction in Nigeria’s wheat imports. In addition, the attendant increase in the price of the composite flour and consumer preferences could reduce imports further by an unknown degree as consumers may balk at “cassava bread” products. The US has a dominant share of 85-90 percent of all wheat exports to Nigeria.


Read more
http://bakare-soyinka.blogspot.com
Reply #1 on: 21 Aug 12, 04:17 PM (3 years ago) by
toibeli (4512 | Gistmaniac)
(m)

Naija people are already paying a whole lot for garri, fuel and now dem wan increase the price of bread?
Reply
Reply #2 on: 21 Aug 12, 04:58 PM (3 years ago) by
bigdad95 (478 | Upcoming)
(m)

 Shocked Shocked Shocked Shocked Shocked Shocked Shocked Shocked Shocked Shocked Shocked Shocked Shocked
Reply
Reply #3 on: 21 Aug 12, 05:33 PM (3 years ago) by
denmal (3225 | Gistmaniac)
(m)

naija where to?
Reply
Reply #4 on: 21 Aug 12, 06:08 PM (3 years ago) by
Senegal (10391 | Hero)
(m)

 Cool Cool Cool
Reply
Reply #5 on: 21 Aug 12, 08:35 PM (3 years ago) by
Solidstonez (37453 | Addicted Hero)
(f)

 Shocked Shocked Shocked Shocked Shocked

Reply
Reply #6 on: 21 Aug 12, 08:36 PM (3 years ago) by
Solidstonez (37453 | Addicted Hero)
(f)

WHAT A COUNTRY

Reply
Reply #7 on: 21 Aug 12, 08:56 PM (3 years ago) by
proly (12915 | Hero)
(f)

any hw
Reply
Reply #8 on: 22 Aug 12, 12:19 AM (3 years ago) by
interpo777 (1695 | Gistmaniac)
(m)

nigeria has praticaly tured to be a  land of no poor man,,,,what re these guys called government doing 4 christ sake
Reply
Reply #9 on: 22 Aug 12, 01:47 AM (3 years ago) by
dickman2 (34649 | Addicted Hero)
(m)

nigeria is dead ..RIP,,
Reply
Reply #10 on: 22 Aug 12, 06:05 AM (3 years ago) by
dlimelite (14084 | Hero)
(f)

 Shocked Shocked Shocked Shocked Shocked Shocked Shocked Shocked
Reply
Reply #11 on: 22 Aug 12, 08:33 AM (3 years ago) by
dickman2 (34649 | Addicted Hero)
(m)

Quote from: dlimelite on 22 Aug 12, 06:05 AM
Shocked Shocked Shocked Shocked Shocked Shocked Shocked Shocked
Shocked Shocked Shocked Shocked Shocked Shocked
Reply
Reply #12 on: 22 Aug 12, 09:02 AM (3 years ago) by
Amaight (1157 | Gistmaniac)
(m)

Wat a useless country!
Reply
Reply #13 on: 22 Aug 12, 09:23 AM (3 years ago) by
chicco77 (22647 | Addicted Hero)
(f)

ok
Reply
Reply #14 on: 22 Aug 12, 09:27 AM (3 years ago) by
dickman2 (34649 | Addicted Hero)
(m)

Quote from: Amaight on 22 Aug 12, 09:02 AM
Wat a useless country!
i wonder oooh..
Reply
Reply #15 on: 22 Aug 12, 11:32 AM (3 years ago) by
yvonneobas (1301 | Gistmaniac)
(f)

Wat a life! Cry Cry Cry
Reply
Reply #16 on: 22 Aug 12, 11:48 AM (3 years ago) by
Nicksam (11564 | Hero)
(m)

I ALWAYS SAYING IT,,,THIS SO CALLED GOVERNMENT AND TOP MEN IN NIGERIA DOESN'T HAVE SHAME ON THEIR FACES,,WHAT ALL OF THEM KNOW IS HOW TO MAKE THE COUNTRY BE IN POVERTY,,,THEIR CAN NOT THINK ABOUT THE POOR PEOPLE IN THEIR MISS WHAT THEIR KNOW IS TO BE GETTING RICH AND RICHER SHAME ON THEM,,,LATE THEM COME OUT FROM THAT COUNTRY AND SEE HOW PEOPLE ARE LIVING WELL
Reply
Reply #17 on: 22 Aug 12, 12:12 PM (3 years ago) by
Zicson (50 | Newbie)
(m)

How are we sure that he was not sponsored by the boko haram sect to produced poisoned meals cause they appear to birds of the same feather. North to north and Muslim to muslim.
 Angry Angry Angry Angry Angry Angry Angry Angry Angry Angry Angry Angry Angry Angry Angry Angry
Reply
Reply #18 on: 22 Aug 12, 12:42 PM (3 years ago) by
dickman2 (34649 | Addicted Hero)
(m)

Quote from: Zicson on 22 Aug 12, 12:12 PM
How are we sure that he was not sponsored by the boko haram sect to produced poisoned meals cause they appear to birds of the same feather. North to north and Muslim to muslim.
 Angry Angry Angry Angry Angry Angry Angry Angry Angry Angry Angry Angry Angry Angry Angry Angry
na so them be ...
Reply
Reply #19 on: 22 Aug 12, 04:01 PM (3 years ago) by
dickman2 (34649 | Addicted Hero)
(m)

Quote from: yvonneobas on 22 Aug 12, 11:32 AM
Wat a life! Cry Cry Cry

bros no life for nigeria again oooh..the life don go very long time ..just dead them live for us..
Reply
[1] 2

Login To Reply

May Leaders

Oworen25(853) - Eazyatumeyi(732) - Sparky273(371) - fire_bender(303) - CHRISETTE(263) - Novic(258) - dickieponga(220) - AmazingMarie(191) - gogoman(150) - christianity(133) - leodavinci(122) - morgan1(108) - uduehi(95) - Mykie010(94) - kabukabu(86) - ngfineface(73) - kachasi(68) - nametalkam(61) - Philzylove(55) - bayonel3(55) -
View more

WIN N1k Recharge Card

Predict correct scores of football matches before kickoff and win N1K recharge card on any network Go To Sports Board

Gistmania Boards