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Nairaland Forum / Nairaland / General / Business / Importers, Should We Just Surrender To Our Delapitating Economy For Now Or What (3702 Views)
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Re: Importers, Should We Just Surrender To Our Delapitating Economy For Now Or What by dasanchez1(m): 7:55pm On Dec 02, 2014 |
phantonce:in phyno's voice " onwebeghi Ihe ifu" lollll.... |
Re: Importers, Should We Just Surrender To Our Delapitating Economy For Now Or What by Eghosa1(m): 8:07pm On Dec 02, 2014 |
phantonce: I don't think I need to reply this anymore. Its shallow thought and the poster acknowledged. macklef:. [b]Buddy, do calm down. Being an importer in Nigeria has its twist and turns and coping with a weak domestic currency is one. Business has its deficcits always and this scenario is just part of lessons one could learn. Moving on, you must understand you're not alone in this current quagmire and thus must proceed to think it through. Importers operating in countries [Not just oil hit ones] with weak domestic currencies are feeling pinched now more than any time in recent memory. A few solutions You [We all] could employ is by asking your suppliers to reduce prices on the said products. Discuss with them and relay the situation you're facing. Nurture relationships and ensure you have a supplier that takes care of you. Also, we all know our weak currency value at the moment already tends to make imports more expensive for us all clearly but do we all know that some products don't need to even be shipped. For Example, Why ship a power bank when you can get from Mayorall at a fantastic rate? Regardless of the dollar’s exchange rate at the moment, applying business sense to every deal is crucial. Profitability for a business is not the major thing always but make your customers glad [with delivery and all] and things would fall in line. You must bear it in mind that if your products simply won’t sell at a higher price point on arrival, look inward. Mayorall, TYConcepts, amongst others have several products on ground that most are trying to get. The issues with the currency can't make one "surrender" Buddy. It only calls for inventiveness for the process such that armed with strategies l, We won't need to always battle the negative effects of the naira and devaluation. [/b] 3 Likes 2 Shares |
Re: Importers, Should We Just Surrender To Our Delapitating Economy For Now Or What by fr3do(m): 8:10pm On Dec 02, 2014 |
mayorall: You go start from somewhere na, you guys though are satisfying Nigerians, but you are killing the economy, this will dissatisfy Nigerians on the long run. Start importing capital goods that will be used for production, if you play your cards well you will make bigger amounts of money, employ Nigerians and help the economy. You can also start exporting. 1 Like |
Re: Importers, Should We Just Surrender To Our Delapitating Economy For Now Or What by macklef(m): 8:16pm On Dec 02, 2014 |
mayorall: You are right but u no d ordinary Nigerian na, they always still want things cheap even tho heavenis falling down. Its my clients im concerned off, because its always my joy to help dem get their imports with the best price possible but this shii aint helping mehn. |
Re: Importers, Should We Just Surrender To Our Delapitating Economy For Now Or What by macklef(m): 8:17pm On Dec 02, 2014 |
Amefrica: Lol. I aiint gaaay jareh, am so straight all the rulers in Niger are beefing me, thats y dey using exchange rate to Try tio bend me |
Re: Importers, Should We Just Surrender To Our Delapitating Economy For Now Or What by Thespecialone(m): 8:17pm On Dec 02, 2014 |
fr3do:killing the economy? I beg to differ. The guys killing the economy are the folks who didn't manage funds from oil receipts which the price was high. Nigeria doesn't have good economies of scale for manufacturing certain goods. Even top economies outsource manufacturing of certain items. Let's stop deluding our selves that Nigeria will one day become a manufacturing giant like China.There are other areas of economic strength that we can focus on. |
Re: Importers, Should We Just Surrender To Our Delapitating Economy For Now Or What by macklef(m): 8:18pm On Dec 02, 2014 |
Cwaya: Lol. I swear all i need the babe for na permanent visa. Walahi. 1 Like |
Re: Importers, Should We Just Surrender To Our Delapitating Economy For Now Or What by macklef(m): 8:20pm On Dec 02, 2014 |
DRealGeesam: No be lie bro o. Without a strong naira, importation will suck coz items have to come in in a price end users can deal with. |
Re: Importers, Should We Just Surrender To Our Delapitating Economy For Now Or What by macklef(m): 8:25pm On Dec 02, 2014 |
Thespecialone: Hmmmm, ive never really thought of the dollar ish, u have a dollar account then, thats if u dont meet physically with ur clients, how do u deal with that? |
Re: Importers, Should We Just Surrender To Our Delapitating Economy For Now Or What by Thespecialone(m): 8:29pm On Dec 02, 2014 |
macklef:You just have to be creative in times like this and think outside the box. In every problem, lies the solution. Personally, I shielded myself via the following means, accept dollars, where it's not possible bench mark the dollar against prevailing naira rate and negotiate with your supplier for lower cost. The hard cold truth is that for the time being, there's going to be a rise in cost of goods except you want to subsidise it for your clients and due to this crunch, the average person's purchasing power will reduce and people will be forced to focus on certain essentials but then it all depends on the category of clients you deal with. |
Re: Importers, Should We Just Surrender To Our Delapitating Economy For Now Or What by mayorall(m): 8:38pm On Dec 02, 2014 |
fr3do: Well said. But will you provide the capital for that?. How much will you loan us. I will organise the group. 1 Like |
Re: Importers, Should We Just Surrender To Our Delapitating Economy For Now Or What by macklef(m): 8:40pm On Dec 02, 2014 |
Thespecialone: Thanks much. Actually apart from some anoying shipping contigencies. This my first battle with d naira, i guess as u said it just really need to formulate some modus operandis to hedge against this failings. Thanks. |
Re: Importers, Should We Just Surrender To Our Delapitating Economy For Now Or What by macklef(m): 8:43pm On Dec 02, 2014 |
mayorall: Heheh, capital goods like nepa transformers for electricity , bulldozers and d likes for roads and tractors for Agriculture. Thats what we need in d economy, i have like 20k for d group o |
Re: Importers, Should We Just Surrender To Our Delapitating Economy For Now Or What by Thespecialone(m): 8:55pm On Dec 02, 2014 |
macklef: Le Chatelier's principle states that if an external constraint such as change in temperature, pressure and concentration is imposed on a chemical system in equilibrium, the equilibrium position will shift so as to annul or neutralize the constraint. I strongly believe this principle can apply to economics. It largely depends on the individuals concerned. |
Re: Importers, Should We Just Surrender To Our Delapitating Economy For Now Or What by macklef(m): 9:27pm On Dec 02, 2014 |
Thespecialone: Hahaha. I dey feel the principle die. So i guess u mean i have to anul or neutralize the constraint. Of course i will I was just taking aback. I wunt say i made a mistake but the thing is, my honesty is the one drilling me, i already exhausted my bargain lifeline, because i even had my seller begging me for tip for his stress. Lol. And d shii is that, all i bargined thats how i gave it to my client. I only was cool with my commision. I dont know if u get my drill. |
Re: Importers, Should We Just Surrender To Our Delapitating Economy For Now Or What by Eghosa1(m): 9:34pm On Dec 02, 2014 |
Thespecialone: All these our genius Bini Men! *prostrates* |
Re: Importers, Should We Just Surrender To Our Delapitating Economy For Now Or What by Nobody: 10:59pm On Dec 02, 2014 |
macklef: Hahaha ok na.. |
Re: Importers, Should We Just Surrender To Our Delapitating Economy For Now Or What by mistayeancah(m): 11:23pm On Dec 02, 2014 |
phantonce: :-) :-) SMH phantonce: :-) :-) SMH |
Re: Importers, Should We Just Surrender To Our Delapitating Economy For Now Or What by mistayeancah(m): 11:23pm On Dec 02, 2014 |
phantonce: |
Re: Importers, Should We Just Surrender To Our Delapitating Economy For Now Or What by Thespecialone(m): 7:49am On Dec 03, 2014 |
Eghosa1: Me sef dey loyal ______0_ |
Re: Importers, Should We Just Surrender To Our Delapitating Economy For Now Or What by mindtricks: 12:15pm On Dec 03, 2014 |
mayorall: Wahala dey o!!! 1 Like |
Re: Importers, Should We Just Surrender To Our Delapitating Economy For Now Or What by initialize(m): 12:47pm On Dec 04, 2014 |
phantonce: I came in late as at when you had modify your initial post an posted this apology. Your sins are forgiven, go and sin no more. If you call importers lazy, it means you haven't been to the Baggage Store at MMIA from 3pm to see what guyz are pulling... Not stop work, no weekends, no Night or Day. You were less informed but I know u gerrit now. ***Since u get "Components Internationally" I don't think you're lazy. Are you? |
Re: Importers, Should We Just Surrender To Our Delapitating Economy For Now Or What by BizBloke(m): 6:48am On Dec 16, 2014 |
Thespecialone: Amen! |
Re: Importers, Should We Just Surrender To Our Delapitating Economy For Now Or What by Nivlin: 4:30pm On Dec 16, 2014 |
dasanchez1:Team #indeed |
Re: Importers, Should We Just Surrender To Our Delapitating Economy For Now Or What by dasanchez1(m): 4:37pm On Dec 16, 2014 |
Re: Importers, Should We Just Surrender To Our Delapitating Economy For Now Or What by jaydee87(m): 12:17am On Dec 17, 2014 |
my broda am suppose to sympathize with you but I will say this first, if you follow the trend of dollar well u shud know that this period is like a peak period for dollar cos it always rise against the naira and I said in one post that it is not advise able to buy now cos of lost goods and delayed delivery even before the fight between the customs and nahco. am sorry for your loss cos according to u this is the second time and my advice is u let the buyer know cos twenty k is not chicken change u know the goods you can get with that amount.. think u split the money with the buyer to reduce your lost.. one secret I use is wen I get order I place order and watch the dollar before paying and I will have calculated it to be 200#/$ for the buyer so at least that way i won't run at loss buying... my broda God will give u wisdom to tell your customer and pls Dont repeat same thing during easter. cos same thing is going to happen dollar rise so be warned..... |
Re: Importers, Should We Just Surrender To Our Delapitating Economy For Now Or What by maybrowne(m): 1:21am On Dec 17, 2014 |
Don't mind that guy jor, even Nigeria that's africa's largest producer of crude oil, export their crude oil to import petroleum, they can't refine it on their own and you come here to lash tongue on those who have found a way to better their lives, improve their standard nd are even teaching it to others. Show me a made in nigeria phone and i will throw away my smartphone right now, even america sef doesn't manufacture phones, dem dey import. You said you are a manufacturer, please what are u manufacturing maybe i can order from you. Lol |
Re: Importers, Should We Just Surrender To Our Delapitating Economy For Now Or What by jaydee87(m): 9:18am On Dec 17, 2014 |
maybrowne:my broda I came across a phone made in Nigeria called Olsen, but will he buy it if I market it to him.. Dont mind him he forming patriot like say me no be Nigeria. |
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