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Login: Password: Forum | Make a Journal Entry | View Journal Entries | Submit An Article | Make as StartPage Homepage Register Forgot password News Business Politics Sport City Diary Features Special Report Behind The News Art & Review Editorial Comment Letters Right Of Reply e-Business Law & Judiciary REAL ESTATE Education Development THISDAY Extra THISDAY Saturday THISDAY Sunday ARCHIVE     LINKS City Guides Hotels Business Exhibition Business Services Nigerian.TV Capital Markets Shops Domains WEB HOSTING Family Trees E-Africa.info E-Nigeria.net FlightsSearch.net MailingBox.net Payments   ThisDay question Is President Olusegun Obasanjo's proposed National Dialogue the way forward for Nigeria? Yes No Indifferent View results 'Benefits of Import Prohibition Limited' From Funmi Peter-Omale in Jos, 12.13.2004 The quantitative import prohibition measures introduced by the federal government in the 2004 fiscal year have limited benefits to the economy. Asides, the long term effects are said not to be healthy to the economy. Dr. Joseph Ochejele made this observation while presenting a paper at the 20th Annual general meeting of Manufacturers Association of Nigeria (MAN) in Jos. Speaking on "Ban on the Importation of Manufactured Goods that are Locally Produced-Problems and Prospects", Ochejele averred that rather than for the policy to encouarge domestic production, it has repressed productivity in some instances and spun lucrative illegal importation. He noted that over the years, successive governments have been able to identify the basic economic problems of the country. "However, they have not been able to appropriately tackle these problems in a wholistic manner. such policy pitfall pervades all the sectors of the economy." Ochejele disclosed further that a situation where one variable is held constant while others are allowed to vary is inefficient because concretely addressing sectoral problems required the application of all variables including endogenous and exogenous factors. According to him, "One such policy that has been very costly to the manufacturing sector and indeed the entire economy is the deregulation of the downstream sector of the oil industry. The exercise has inflicted fatal pains and agonies on the economy depends heavily on the oil sector, the concomittant eefect of the deregulation is the quantum leap in the general price level." He thus suggested that besides banning some products that could be produced locally, government should address certain micro issues as they relate to improving socio political and macro-economic environment, infrastructural deficiencies, regulatory environment, security, law and order.       REMAIN INFORMED WE SEND IT TO YOUR MAIL THISDAY NEWSLETTER Name E-Mail   Who We Are | THISDAY People | Contact Us © Copyright 2000-2004 Leaders & Company Limited This Site Created by White Pages Limited

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