I don’t trust the west too much.Why then remove am? Anyways good for biznis peeps .

HA!
Now I know why our tomatoes are getting smaller and more expensive everyday. So Na UK them dey carry am go like this! ah ah! because of why na? UK no get land plant their own tomato ni?

Vokallond1:
According to the Nairaland Classification model i built, this news is placed in the correct category which is BUSINESS.
I plan will create a thread describing in detail the method i used to build this A.I model, give me a follow and stay tuned

Hi sir. Interesting!
Could you also kindly put the code on GitHub with clean documentations and explanations of data cleaning and preprocessing steps, model selection criteria, parameter selection criteria and other relevant training hyper-parameters.

Nice one!

Best

Nah Peter Obi hands work...

Massiveglory:
That is a good one from the united kingdom.
We hope tinubu and his boys will not claim it as tinubu act, because as it is now, they are desperate to medianize anything possible as tinubu.

After taking our people to UK now also taking our food too, meaning we wey remain go die for Hunger.

budaatum:


That is the benefit of devaluation. Products we could not find buyers for will now buy our products cheaper. It's not like they were buying from us before.

https://dailypost.ng/2023/03/27/25-nigerian-crude-shipments-struggle-to-find-buyers-in-europe/

https://guardian.ng/news/worries-over-revenue-petrol-scarcity-as-buyers-shun-nigerian-oil-cargoes/

You really have no grasp of how these things work. First, with devaluation, imports become more expensive, prices go up, workers demand and get a raise, local and external demand increases, then local sellers jerk up prices which in turn would crash local and external demand.

If currency devaluation was the way forward, how comes Venezuela and Zimbabwe aren't topping the list of global export trade?

The only way to encourage export is to industrialize the economy and produce quality goods that can compete favourably with the best from other parts of the world and at reasonable prices.

When you industrialize the economy, you improve efficiency and reduce the cost of production.

But tell me, does Nigeria even have any industrialization plan?

.

ivolt:

64 other developing countries are under the same trade rule but you choose to exhibit
your ignorance against Nigeria only.
Perhaps, the other countries also devalued their currencies.

Again no grasp. The point I made is about this being an excellent opportunity to grab cheap Nigerian goods as a result of devaluation before prices skyrocket again and discourage further exports.

I'm sure they'll sooner rush to these other countries with more stable currencies when local sellers here jerk up prices due to expensive imports, increased wages and rising demand as was the case in 2016 when price of local rice jumped from 5k to between 30 and 37k.

There is really nothing to cheer about this news except you want to applaud the UK for trying to reduce hardship for it's people.

Massiveglory:
That is a good one from the united kingdom.
We hope tinubu and his boys will not claim it as tinubu act, because as it is now, they are desperate to medianize anything possible as tinubu.

What do you export to UK please? Is it not only handcarry foodstuffs that people take there for their family while going for Omugwo once in a while?

This is good news.

budaatum:


That is the benefit of devaluation. Products we could not find buyers for will now buy our products cheaper. It's not like they were buying from us before.

https://dailypost.ng/2023/03/27/25-nigerian-crude-shipments-struggle-to-find-buyers-in-europe/

https://guardian.ng/news/worries-over-revenue-petrol-scarcity-as-buyers-shun-nigerian-oil-cargoes/

The crude is priced in dollar equivalent and so I can't see how devaluation of local currency affects buyers at Intl stage.

Curvinus:


You really have no grasp of how these things work. First, with devaluation, imports become more expensive, prices go up, workers demand and get a raise, local and external demand increases, then local sellers jerk up prices which in turn would crash local and external demand.

If currency devaluation was the way forward, how comes Venezuela and Zimbabwe aren't topping the list of global export trade?

The only way to encourage export is to industrialize the economy and produce quality goods that can compete favourably with the best from other parts of the world and at reasonable prices.

When you industrialize the economy, you improve efficiency and reduce the cost of production.

But tell me, does Nigeria even have any industrialization plan?

Meanwhile, exports are cheaper because foreign buyers need less dollars for more Naira, which increases our sales and increases demand for workers to make things which increases wages to attract better workers who's quality of life improves.

Sorry, but I'm throwing consumers under the bus. They need a pay rise to count.

DevilsEqual:
Goodnews

Since May29, it's been from one positivity to another... That's a good omen that BAT regime is gonna be a long 8years of showers of blessings

We're grateful


If u understand what Hellenistic Astrology stands for and how it was being used to predict the future of a Newly crowned Pharaoh/Emperor in ancient Egypt and Rome, then you'll be glad for what is to come

With the minimum wage at 30% yet elected politicians and judges are having 114% increment. Suffer no de tire u abi

CodeTemplar:
The crudenis priced in dollar equivalent and so I can't see how devaluation of local currency affects buyers at Intl stage.

Devaluation of our currency, less dollar for Naira, means buyers can come to Nigeria and buy in cheaper Naira. Crude oil is after all not all we sell, we sell lots more other stuff in Naira whereby buyer comes to Nigerian market having converted dollars to naira, though you'd be amazed how little Made in Nigeria you'd find on European streets. E so little I once planned to patent the phrase.

Crude oil is not selling at current prices with Russia discounting, so a devaluation of our currency is like a prize cut so it flies out the barrel.

Meanwhile, Nigerians are reskilling to make it.
https://www.theguardian.com/world/2023/jun/16/nigeria-economy-stocks-and-cost-of-living-soar-bola-tinubu-policies

Poanan:


With the minimum wage at 30% yet elected politicians and judges are having 114% increment. Suffer no de tire u abi

Payrise! Payrise!

And scrap NYSC!

budaatum:


Devaluation of our currency, less dollar for Naira, means buyers can come to Nigeria and buy in cheaper Naira. Crude oil is after all not all we sell, we sell lots more other stuff in Naira whereby buyer comes to Nigerian market having converted dollars to naira, though you'd be amazed how little Made in Nigeria you'd find on European streets. E so little I once planned to patent the phrase.

Crude oil is not selling at current prices with Russia discounting, so a devaluation of our currency is like a prize cut so it flies out the barrel.

Meanwhile, Nigerians are reskilling to make it.
https://www.theguardian.com/world/2023/jun/16/nigeria-economy-stocks-and-cost-of-living-soar-bola-tinubu-policies

when you take your product to Intl market you price it in another currency and not Naira. Our crude from time immemorial has been priced in dollar/pound/euro.
You are deeply mistaken.

CodeTemplar:
when you take your product to Intl market you price it in another currency and not Naira. Our crude from time immemorial has been priced in dollar/pound/euro.
You are deeply mistaken.

Maybe I don't see it your way because I don't make or sell crude oil.

When I come back from selling my own now cheap product in international market due to naira devaluation, I will return to Nigeria with my foreign currency and sell it in the Nigeria market and buy Naira because Nigerian pepper, rent and school fees is not priced in dollar/pound/euro, and unless I'm mistaken, the inflow of my foreign currency benefits the economy because I will make profit and hire more people to expand my business and make more profit and hire more people and I might even consider paying a fairer wage one day.

ijustdey:


https://leadership.ng/uk-cuts-tariffs-on-products-from-nigeria-others/

A brilliant move by the UK for international businesses.

This is quite similar to the AGOA initiated by the U.S. government.

Postinor:
Jagaban is working

i like your name

OperationalVehi:
i like your name

awwn 😊

tremilatre:
It still wouldn't translate to price reduction of Nigerian grocery in Uk. They're ridiculously overpriced. The greed of our store owners here knows no bounds. To fill a hand basket now you'd be spending like £150

Howdy fellow NLer...I need a resident Nigerian for a collabo towards a legitimate online content art project which will generate at least £1m yearly from viewership sub.

If you don't mind @your request I'll give
a breakdown though I may not give out the full blueprint .
My fondest regards.


Wittyness

Trade is far better than aid or emigration to these rich countries.

However, the question is whether Nigeria would grab this opportunity with both hands.

One way it can do so is to set up EPZ and encourage FDI into them. The government should go all out to bring them in. Many manufacturers are leaving China for instance. This is an opportunity to lure them into the country to produce for exports. I am sure many European and American firms could also be lured if the right infrastructure is provided.

A thriving EPZ in each state with coastline would be a boon for the economy.

The Special Economic Zones (SEZ) were the foundation of China's export boom and its industrialization.

grandstar:
Trade is far better than aid or emigration to these rich countries.

However, the question is whether Nigeria would grab this opportunity with both hands.

One way it can do so is to set up EPZ and encourage FDI into them. The government should go all out to bring them in. Many manufacturers are leaving China for instance. This is an opportunity to lure them into the country to produce for exports. I am sure many European and American firms could also be lured if the right infrastructure is provided.

A thriving EPZ in each state with coastline would be a boon for the economy.

The Special Economic Zones (SEZ) were the foundation of China's export boom and its industrialization.

Your deeply dishonest. Chinese are emigrating and advancing. Indians are doing it too.

Your penchant for rationalizing issues to favour your govt of choice makes you come across as deeply delusional dude.