Let us start with the cable television monopoly in Nigeria, (DSTv). Represented in Nigeria as Multichoice Nigeria, this company few years ago launched a low end version called GoTv, which they used to counter the entrance of the Chinese owned Startimes which focused on low entry market. Today, they have effectively monopolised the cable TV industry in Nigeria, both high end and low end, stifling out smaller competition.No serious economy allows such nonsense....but this is Nigeria...where anything goes...
DSTV which is owned by Naspers increases bouquet prices by double-digits every 16 months on average and continues to operate a subtle monopoly which is a huge benefit given Nigeria's population and love for football (soccer). Football is not the most popular sport in South Africa and is not even second. Rugby and Cricket are way ahead in terms of popularity and viewership.
In South Africa, DSTv subscribers are given the option to switch off their subscription especially when they are traveling out of town, and to switch it on when they return. But in Nigeria, we pay for subscription on monthly basis, even when we watch for just five days.......
Naspers is the largest company in Africa by market cap at over $66 Billion. This figure for one Johannesburg Stock Exchange listed company is more than the total market capitalization of the Nigerian Stock Exchange.
MTN Group makes more money in Nigeria than from any other country it operates in including the home country of South Africa. Over 33% of global revenues are from Nigeria only.
Nigeria's asset management behemoth (Stanbic IBTC) is majority owned by the Standard Bank Group. This gives South Africa's and Africa's largest bank control over a significant portion of Nigeria's asset management industry.
Nedbank owns 20% of Ecobank Transnational. Ecobank Nigeria is the largest subsidiary of Ecobank Transnational. South Africa's fourth-largest bank pretty much owns 20% of Ecobank Nigeria which is Nigeria's 6th largest bank by assets.
Yet ETI was not allowed to open shop in South Africa, it could only succeed in getting approval for a representative office in Johannesburg.
Will Shoprite publicly release its figures so we can put a finger on the contribution of Nigeria to company-wide revenue?
There are two dedicated Nigeria mutual funds operating from South Africa; one is operated by Renaissance Asset Management and the other by Sustainable Capital. Nigeria has nothing of the sort in the reverse.
Well informed Nigerians will argue that 'are they not employing Nigerians', as if employment opportunities is all a country gets fro foreign investment....
I have been of the persuasion that successive Nigerian governments have been dumb in the area of economic diplomacy. They failed woefully to understand that economic interests are now the centre piece of the diplomacy of nations around the world.
Will the Buhari government be different?
Will this government give opportunities to men and women with hands on understanding of the intricacies of 21st century international economic diplomacy to run both our Ministry of Foreign Affairs, and Ministry of Finance?
Men and women who understand the ground- up approach towards protecting national economic interests, not only those with chains of degrees....
Nigeria can run effectively without oil, trade is the key, and being Africa's largest market has far greater advantages than providing openings for foreigners to make huge kills.....
Reference
Kelechi Decal
https://m.facebook.com/kelechi.deca/posts/10206184502428176

Incredible

stc

I known this type of topic won't generate traffic on nairaland because its not a tribalism based but an intellectual bases topic.

At least this thread will be devoid of tribal comments.

yimu

OP,there was a point where I too wondered about Nigeria's virtually non-existent tools of economic diplomacy,I eventually concluded that,like many other aspect of our nationhood,we have neglected in using economic diplomacy and international relations as soft power to protect our interests.
Nigeria has been governed by backward brains almost since independence; no vision,no ambition,no order,no stability and no intellect,only selfish politics that bears little coherence.
Anyway,as for South African economic interests in Nigeria; I have realized that it would be unfair to summarily accuse them of exploitation.Of course,dont get me wrong,they are indeed a bunch of thieving nicompoops,but really,what corporate venture isnt?.
To be fair,all these SA companies are operating in Nigeria's very harsh business environment where they all have to generate their own stable power all year round and contend with our abysmal infrastructure.In the end,it's we consumers that will suffer it because they have to make profit.

Too many points raised in your post.
Unfortunately the powers that be , only care about their pockets.
As far as senators and HOR members have constituency project funds, while Governors have unaccounted security vote funding amongst other things.
Nigeria will remain stagmant

I look at these points and don't think much of them. One thing these companies operate in Nigeria providing services and employment. Fact is Nigeria is terrible economicly unfree country. The company's will simply repatriate their profits when they feel need. These business grow our economy more since they are in our borders.

It's like how Ford was going to build manufacturering plant in Mexico and saying it benefits U.S economy more. It doesn't make much sense. The only way us benefits is repatriated profits that might go into wage increases, stock buybacks, R&D etc.

I agree Nigerian governments economic policies are trash for the most part. South African companies capitalizing is symptom. The companies grew in south Africa and were able to expand and take advantage of foreign market.

Blue3k:
I look at these points and don't think much of them. One thing these companies operate in Nigeria providing services and employment. Fact is Nigeria is terrible economicly unfree country. The company's will simply repatriate their profits when they feel need. These business grow our economy more since they are in our borders.

It's like how Ford was going to build manufacturering plant in Mexico and saying it benefits U.S economy more. It doesn't make much sense. The only way us benefits is repatriated profits that might go into wage increases, stock buybacks, R& etc.

I agree Nigerian governments economic policies are trash for the most part. South African companies capitalizing is symptom. The companies grew in south Africa and were able to expand and take advantage of foreign market.

All those companies mentioned above, still make large portion of their profits in South Africa, maybe except MTN. The rest, 70% of their profit comes from south africa, example, Shoprite has 26 stores in Nigeria, in South africa they have 1 400 stores. DStv has 1.6m subscribers in Nigeria, in SA, they have 6m subscribers.

14:


All those companies mentioned above, still make large portion of their profits in South Africa, maybe except MTN. The rest, 70% of their profit comes from south africa, example, Shoprite has 26 stores in Nigeria, in South africa they have 1 400 stores. DStv has 1.6m subscribers in Nigeria, in SA, they have 6m subscribers.

Very informative. I was too lazy to look it up.

I don't knw when Nigeria will get it right.

Flyingngel:
I don't knw when Nigeria will get it right.

NEVER.

thepeople2020 post:NEVER.



Bros, let pray may b one day God will give us somebody that will destroy this old Nigeria and build a new one frm scratch.

oyatz:
I known this type of topic won't generate traffic on nairaland because its not a tribalism based but an intellectual bases topic.

I don't see intellectual stuff there. I see hate.

Proudlyngwa:
Too many points raised in your post.
Unfortunately the powers that be , only care about their pockets.
As far as senators and HOR members have constituency project funds, while Governors have unaccounted security vote funding amongst other things.
Nigeria will remain stagmant

You've Said it All Bro



NB: Please is there any University in Nigeria currently offering Msc or PGD in Logistics and Supply Chain Management?

Flyingngel:
thepeople2020 post:NEVER.



Bros, let pray may b one day God will give us somebody that will destroy this old Nigeria and build a new one frm scratch.

if developed contries spent all their time praying, I'm sure they won't be were they are right now.

Let us(citizens and leaders) use the brains God gave us and make the right decisions to move this country forward.