<b>Let me start by saying this... If you are not grounded in economics please read and pass </b><br><br>There has been this sentiment in Nigeria that import is what's killing Nigerian economy.. Lmaooo uts funny <br><br>Let me start by saying this importation has never harmed any economy, lack of export is what kills an economy <br><br>If you refuse to import what you can produce cheaper than imported once you are reducing the living standard of your people by reducing their purchasing power <br><br>As a nation because you can produce something doesn't mean you should... Say the locally made A cost 100 and imported once cost 20 by all means allow import <br><br>Some import duty we have is exactly what is killing Nigeria <br><br>Why should there be import duty on wheat' Can we ever produce wheat effectively' Never <br><br>Why us their import duty on stock fish' Can it grow here' <br><br>Why is their import duty on turkey' Do we have a turkey industry' <br><br>Don't get me wrong I understand import duty on rice, we have the land and climate and labour to compete <br><br>But import duty on steel' Lmaooo England just closed its last steel company because it was running at a loss... Ajokuta can never work or produce steel cheaper or even 150% price of imported steel... The iron concentration is too low 33% minimum requirements is 68% ... So we would need to enrich it which would increase cost <br><br>Import duty on steel have killed many industry from going global because their steel price put them at a disadvantage... <br><br>We want auto industry but we have import duty on steel and aluminum' Funny people <br><br>Why is their import duty on fabrics' We can never compete in the fabrics industry our cottons are too expensive and production is too poor... Import duty on fabrics is preventing Aba from competitng with turkey and Bangladesh <br><br>Ok you want to protect fabrics industry but you won't allow cotton import' Funny people <br><br><b>To put it plainly To export as a nation you must import especially if you want to export finished goods and not raw materials <br><br>There is a reason the biggest export nations are also biggest import nations </b><br><br>We need economic policy change as a nation <br><br>Well what do I know
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