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JUST IN: Nigerian Veteran Actor - Mr Ibu reportedly passes away.
02/03/2024

JUST IN: Nigerian Veteran Actor - Mr Ibu reportedly passes away.

The reason why Indomie noodles and your favourite bread are expensive is not only because of the dollar. The dollar issu...
02/03/2024

The reason why Indomie noodles and your favourite bread are expensive is not only because of the dollar.

The dollar issue is inclusive, though, but not the total sum of the story.

The main reason why you are struggling to buy indomie at 20,000 per carton or your favourite breed at 1,500 per loaf is because of a grain called wheat.

Why is wheat that important?

Wheat is a major raw material needed to produce bread and indomie noodles.

It is an important component.

However, we grow wheat in Nigeria, but not enough and not in commercial quantities.

So manufacturers of indomie noodles and bakeries that bake bread import wheat from countries like Ukraine and Russia to compliment.

In 2012, the government of Goodluck Jonathan introduced a policy called wheat substitution.

The idea behind this policy is simple.

To encourage companies that use wheat as their raw material for food production to look inward Instead of importation

So, for instance,

Instead of Dufil importing wheat from Ukraine to produce indomie, they can buy wheat grain from wheat farmers in Jigawa state who plant wheat in commercial quantities.

To discourage the importation of wheat by these big companies, a levy was introduced, and a wheat grain levy pool account was created.

This wheat grain levy pool account was in the news of late as the Asiwaju’s government took $500,000 from it to fund their trip to New York.

So for every food company or importer who imports wheat from Ukraine or Russia, you pay a levy of 15% and a 5% duty for the importation which is paid into this account.

A much deeper look showed that these taxes were to encourage local utilisation of home-grown wheat in bread and indomie, reduce the reliance on foreign exchange for wheat imports, boost wheat demand, enhance earnings within the wheat value chain and yield, and increase job opportunities in the cassava value chain, among several other benefits.

A good policy, if you ask me

My disadvantage was the ex*****on, and a decade later, we had insecurity in the north that prevented wheat farmers from going to the farm in the north.

Woeful Buhari, instead of scrapping this wheat policy because it is not working, took it to 70% from the 20% that he met it.

So any time Indomie people or big bakeries import wheat from outside the country for production of your favourite indomie or bread

They pay 70% tax on it, and your guess is as good as mine.

Thus 70% cost is passed on to the final consumer who pay for it.

This new increment from 20% to 70% wheat tax was done last year, in April 2023, and since that time, the price of indomie and the bread on the market have not been the same.

The war in Ukraine and Russia is not helpful for these food companies desperately looking for wheat to import.

Any time I think about Nigeria and the reason why there is much hardship and hunger in the land, why food is this expensive in our country.

I’m convinced beyond the ordinary that this is deliberate policy by the government to keep Nigerians poor and hungry.

Come to think of it

Does it make sense to continue to charge a 70% wheat tax for a wheat grain you can't meet the demand of the food companies that need it, more so when there is so much hunger and famine in the land?

01/03/2024

I wonder if Japan 🇯🇵 knows what their flag means in Nigeria🇳🇬 🤣🤣🤣🤣

*The only story we didn't believe but never accept to try 🤣🤣*
23/02/2024

*The only story we didn't believe but never accept to try 🤣🤣*

23/02/2024

Don jazzy almost kpai himself when dbanj left him

I know the country hard but Pablo which kind format be this ? 😂
22/02/2024

I know the country hard but Pablo which kind format be this ? 😂

Combining all Nigerian Naira denominations will now give you $1.1000 Naira note + 500 + 200 + 100 + 50 + 20 + 10 + 5 = 1...
21/02/2024

Combining all Nigerian Naira denominations will now give you $1.

1000 Naira note + 500 + 200 + 100 + 50 + 20 + 10 + 5 = 1885 and $1 is N1885.

20/02/2024

Truth I found out about the UK,nobody go tell you this but believe me.. girl wey I meet here nearly use my..gbola.do chewing stick..

20/02/2024

See femi fani kayode earlier today,the problem is crazy,they don't care about us

19/02/2024

I was saying this earlier,you people will ruin this protest before it starts with yeye character like this,wtf is this

19/02/2024

Gist for gist lover 😆

Blessing CEO don drop her own oh😎
19/02/2024

Blessing CEO don drop her own oh😎

18/02/2024

That yeye wey una do,go carry babes,drink tr@m@d0l,knk,una better stop ahm and stand strong💪

30/01/2024

Dem say I give woman Belle

No pressure, life is a step
28/01/2024

No pressure, life is a step

Pepper 🌶️ pass pepper 🌶️ 😂
28/01/2024

Pepper 🌶️ pass pepper 🌶️ 😂

A short story 🤗The struggle is real... 😂
26/01/2024

A short story 🤗

The struggle is real... 😂

Don’t pass without liking this post Legendary 💯❤️
26/01/2024

Don’t pass without liking this post
Legendary 💯❤️

Short story 😂😆
25/01/2024

Short story 😂😆

Guys which one did you miss 😂
25/01/2024

Guys which one did you miss 😂

Kidnappers: Your wife is here with us, send us 10 million now or she’s gone!Husband: *Crying* Ahhh please sir! 10 millio...
25/01/2024

Kidnappers: Your wife is here with us, send us 10 million now or she’s gone!

Husband: *Crying* Ahhh please sir! 10 million! Where will I see that kind of money?

Kidnappers: That’s your problem. You have 9 hours!

Husband: *Runs around, collects loans, raises 9.5 million and calls kidnappers*

Kidnappers: Do you have the money?

Husband: Yes but it’s remaining 500k please let me talk to my wife!

Wife: Honey? *Crying*

Husband: I’m so sorry baby, I will get you out okay? We just need 500k more. Do you have it please? I’ll return it when I can.

Wife: Where will I see that kind of money? I don’t! Please do something, I don’t want to die!

Husband: *Sells some items and raises the remaining money*

*Calls kidnappers*

Please how do I send you the money?

Kidnappers: Send to your wife’s account, we’ll take her to a location and withdraw there*

Husband: *Transfers the money*

*Wife receives alert*

Credit alert: N10,000,000
Account balance: N25,000,000

Satan:

25/01/2024

Wait make responsibilities hit yall first lol una go learn the hard way

“This Is Who You Are And Now The World Knows Too” — Mummy G.O, Judy Austin Hails 2nd Husband, Pastor Yul Edochie As He A...
24/01/2024

“This Is Who You Are And Now The World Knows Too” — Mummy G.O, Judy Austin Hails 2nd Husband, Pastor Yul Edochie As He Abandons Acting And Politics To Open Church 'True Salvation Ministry'

“Mr. Ibu is back home” – Ken Erics expresses excitement as he shares a video from his visit to the veteran actor 🥳
22/01/2024

“Mr. Ibu is back home” – Ken Erics expresses excitement as he shares a video from his visit to the veteran actor 🥳

This young lady installed my car tracker today,till now I am still surprised,seeing a girl defying the odds to learn som...
20/01/2024

This young lady installed my car tracker today,till now I am still surprised,seeing a girl defying the odds to learn something lucrative instead of doing yash like (blessing CEO and the others) I am so proud of her and lastly if my car lost na she tiff am because na she install the tracker 🤷😂

I love you my baby gistlover❤️,I love you baby,I'm not a 20 seconds man,I get to 40 seconds🥺🥺till kpai do us path
20/01/2024

I love you my baby gistlover❤️,I love you baby,I'm not a 20 seconds man,I get to 40 seconds🥺🥺till kpai do us path

Your life will soon change for GOOD ❤️❤️❤️
20/01/2024

Your life will soon change for GOOD ❤️❤️❤️

A very short story 😂 math teachers are something else 🤣
18/01/2024

A very short story 😂 math teachers are something else 🤣

Short story 😂😆😂
15/01/2024

Short story 😂😆😂

To build house no cost o. Na you wan buy block 😂
15/01/2024

To build house no cost o. Na you wan buy block 😂

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Videos

Don jazzy almost kpai himself when dbanj left him

Truth I found out about the UK,nobody go tell you this but believe me.. girl wey I meet here nearly use my..gbola.do chewing stick..

See femi fani kayode earlier today,the problem is crazy,they don't care about us

I was saying this earlier,you people will ruin this protest before it starts with yeye character like this,wtf is this

Gist for gist lover 😆

That yeye wey una do,go carry babes,drink tr@m@d0l,knk,una better stop ahm and stand strong💪

Dem say I give woman Belle

Wait make responsibilities hit yall first lol una go learn the hard way

This is how the world is watching me and Tonto Dike 😂😂

Many things dey happen 😂

I want to leave TONTO DIKEH, again think about this

Me and Tonto dike in court

Shey una dey blame Isreal dmw? Now see this one dey chop money like say him be puppy

Continuation of me and Tonto dike at the police station

What's this one again na?? Women will end this world. 😂

Went to police station and didn't spend up to 2 seconds there. Don't underrate my lawyers or else you will learn and you will learn the hard way Tonto dike.

After listening to this man I realized you all have a lot to understand 🤦

I can understand when an ordinary influencer promote a brand ignorantly without verifying the safety of the brand but when an honorable member in the person of TONTO DIKEH does it. come on, as a politician atleast do well to care for your people,the product tonto dikeh just advertise doesn’t have a nafdac number on the body which is against the nafdac laws, also phyna I love you so much as my sister but please tell your people to get a nafdac before file a case 💪 ALUTA CONTINUA

I didn’t know this will get to a point where Tonto dikeh will want to take my lyf

Just a friendly warning before I start the gist of yesterday 🤷

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