mrsfavour:
If u dont no them, other do, i cooked with their tomatoes today,their leaving will affect some Nigerians.

Funny enough, I'm not even in Nigeria

I have seen this guy on chanels tv complaining a lot about forex but he sounds more like one of those who got shut out of the forex round tripping.

The man implied he is millions of dollars in factories not many people know to make products that is not common in the market,

Their is no way his numbers add up to failure, its impossible to spend that much money on a plant and lose in Nigeria.

If he is the man selling that thing that was suppose to put out fires in the 90's then all these complaint about government adds up. The man is original hustler

mrsfavour:
If u dont no them, other do, i cooked with their tomatoes today,their leaving will affect some Nigerians.

Please how do you enjoy this brand of tomatoes because it tastes terrible. I made the mistake of buying that once and I had to throw away a full pot of stew.

Good riddance of bad product.

Chukzyfcb:
he couldn't penetrate the market, had 6billion worth of goods unsold and yet he was looking for more forex to import more goods.
it was obvious the tomato importers are just way competitive in the business. too bad

From what u quoted.

It seems u don't understand it do u?


He has over 6billion worth of goods unsold, because of foreign paste.

This means that those imported goods are way cheaper than what he has.

Reasons? because, those importers are favoured when it comes to importation, here the fx rate automatically affects cost of production.

Incase u ask what he does with fx, well, he can import machineries with it, he can buy other raw materials for the paste production as tomato is not the only raw material needed for the paste, and to think of its packaging, they are imported too.



FG, should be concerned about local productions and manufacturers, they should create good policies to favour them.
Other wise tell me how they want to diversify the economy? Or how they intend to buy naija to grow naira when they are killing the local manufacturers.

saintmark88:
Pls I will like someone to provide an answer: if he produces locally, why did he keep threatening the govt for forex or he will quit??, what did he need d forex for, since he produces locally and he can get his raw material locally also.

Why couldn't he source for his own forex, d way others r sourcing for forex, y nid the govt to give u scarce forex at the parallel market rate??

I would love intelligent ansas to these questions

Which of the machineries do they manufature in Nigeria?

chigoizie7:



From what u quoted.

It seems u don't understand it do u?


He has over 6billion worth of goods unsold, because of foreign paste.

This means that those imported goods are way cheaper than what he has.

Reasons? because, those importers are favoured when it comes to importation, here the fx rate automatically affects cost of production.

Incase u ask what he does with fx, well, he can import machineries with it, he can buy other raw materials for the paste production as tomato is not the only raw material needed for the paste, and to think of its packaging, they are imported too.



FG, should be concerned about local productions and manufacturers, they should create good policies to favour them.
Other wise tell me how they want to diversify the economy? Or how they intend to buy naija to grow naira when they are killing the local manufacturers.

all what you have written was what I summed up in just about 6 lines.
he couldn't penetrate the market I said hence the heavy unsold inventories. he would have stayed in business if he was able to beat the market.
you didn't read where I wrote tomato importers are winning the war. that's the problem with you guys, you just rush to quote people without careful reading. what have you written here that's different to what you quoted me on

fourthworld:



Leave the zoo fast before they bring your you down out of hatred. Afonja comes to mind. How do you expect to make progress in an animal kingdom governed by beasts, allergic to igbo progress yet hypocritically preaches the encouragement of made in Nigeria goods?

What kind of human being are you.
You are full of so much bitterness and hatred.
Must everything be about Igbo or Afonja or anything tribalism?
Oh God,when and how did we get to this stage?
The world is moving forward and countries are fostering unity and breaking down all known barrier walls while my brothers down here are busy creating enmity through all manner of hate speeches.
Its OK,continue.

Good riddance!

Chukzyfcb:

all what you have written was what I summed up in just about 6 lines.
he couldn't penetrate the market I said hence the heavy unsold inventories. he would have stayed in business if he was able to beat the market.
you didn't read where I wrote tomato importers are winning the war. that's the problem with you guys, you just rush to quote people without careful reading. what have you written here that's different to what you quoted me on

In essence, what where u driving @? That he is incompetent or that FG is frustrating his business?

But CBN replied the man recently in the media space saying that he enjoyed huge loans from Nigerian banks under CBN arrangement, in addition to releases of forex to him at official rates! Has he repaid the loans? What did he do with the forex allocations? Abeg, the man should stop doing shakara. Let him perform on what he has been given so far to justify further assistance to him. Nigerians should be patriotic for once!!

munas:


Which of the machineries do they manufature in Nigeria?

Na everytime dem dey buy machineries... I dnt understand.... Can u elaborate rate.....

chigoizie7:



From what u quoted.

It seems u don't understand it do u?


He has over 6billion worth of goods unsold, because of foreign paste.

This means that those imported goods are way cheaper than what he has.

Reasons? because, those importers are favoured when it comes to importation, here the fx rate automatically affects cost of production.

Incase u ask what he does with fx, well, he can import machineries with it, he can buy other raw materials for the paste production as tomato is not the only raw material needed for the paste, and to think of its packaging, they are imported too.



FG, should be concerned about local productions and manufacturers, they should create good policies to favour them.
Other wise tell me how they want to diversify the economy? Or how they intend to buy naija to grow naira when they are killing the local manufacturers.

What is he importing??, how many times in a year would he import machineries??.... Whts d point of production when u still reply heavily on forex to import.... He should source for his raw materials locally n stop all these threats, if he wants to leave let him leave, pple will come n do d ryt tin....

Acecube:



not to hate but Ric-giko needs to improve their standards oh, never knew it was an indigenous paste. They are last in my preference for tomato paste. so sad.

I bought the paste when tomato was scarce and outrageously expensive. I simply wanted to be patriotic plus the fact that I'm always wary of Chinese food imports considering the many horrible videos in respect of that online. RIC GIKO was nice and better than most of the imported ones I compared with. This move is bad for our economy whichever way we look at it.

sultaan:
I have seen this guy on chanels tv complaining a lot about forex but he sounds more like one of those who got shut out of the forex round tripping.

The man implied he is millions of dollars in factories not many people know to make products that is not common in the market,

Their is no way his numbers add up to failure, its impossible to spend that much money on a plant and lose in Nigeria.

If he is the man selling that thing that was suppose to put out fires in the 90's then all these complaint about government adds up. The man is original hustler

Alot round tripping has been happening under this govt and its mostly aided by govt officials reason I laugh when buhari says he is fighting corruption, we currently have about three market exchange rates you can get lower market rate depending how close you are to power and let's note this govt are willing to give dangote subsidized forex but won't give same leverage to people like erisco.

delpee:


I bought the paste when tomato was scarce and outrageously expensive. I simply wanted to be patriotic plus the fact that I'm always wary of Chinese food imports considering the many horrible videos in respect of that online. RIC GIKO was nice and better than most of the imported ones I compared with. This move is bad for our economy whichever way we look at it.

I understand perfectly well the implication it will have on the nation's economy, hence my cry for something to be done about the situation in my first paragraph.

But still yet, I was just being frank in my assessment (wasn't sentimental about it coz I never knew it was indigenous at that point in time) , for me the ones I compared it with were better, I only buy it when I don't have a choice.

I used Gino and Sonia... just a little bit high (on the price) but worth the cash.

Truth be told.

Forex is not his problem.

His Paste can not compete with what the market demand in terms of quantity and quality. Hence his large Inventory of #6billion in his warehouse.

He already access forex. He needs more for round tripping. Naija style.

His factory was commissioned by Bhuari & Aisha.

He has bad business strategy.

Remember all the vacant post he published, even large multi national find it difficult to finance such bogus position. Nothing came out of it.

Someone should tell him to focus on quality so that his products will drive itself.
Stanbic gives him forex this I know.

chigoizie7:



From what u quoted.

It seems u don't understand it do u?


He has over 6billion worth of goods unsold, because of foreign paste.

This means that those imported goods are way cheaper than what he has.

Reasons? because, those importers are favoured when it comes to importation, here the fx rate automatically affects cost of production.

Incase u ask what he does with fx, well, he can import machineries with it, he can buy other raw materials for the paste production as tomato is not the only raw material needed for the paste, and to think of its packaging, they are imported too.



FG, should be concerned about local productions and manufacturers, they should create good policies to favour them.
Other wise tell me how they want to diversify the economy? Or how they intend to buy naija to grow naira when they are killing the local manufacturers.

If his products are of good quality, people will buy. The man makes too much noise. Does he expect govt to force Nigerians to buy his tomato paste? He should learn to compete and stop looking for an easy way out.

willibounce1:


If his products are of good quality, people will buy. The man makes too much noise. Does he expect govt to force Nigerians to buy his tomato paste? He should learn to compete and stop looking for an easy way out.

No, govt should not force people to buy his product.

All I am saying is this.

For a govt that is clamouring for diversification and ways to cut down on fx.

Buy naija to grow naira.

I think it is the govt duty to create an enabling environment for local manufacturers.

Creat a govt policy that will favour them morethan those in the business of importation.

That is my own point.

Govt has been steadfast on their ban on rice importation, which is a good thing. The way people are rushing into the rice business and even the local rice production, even when it is not of the same standard with foreign rice. The idea was to phase out rice importation, save fx, currently, about 3billion dollar worth of rice has been stashed in so many warehouses in Benin and other countries, waiting to be smuggled into naija. Do u know what naija would have gained less of demand on fx worth 3billion USD?.

Erisco might be talking too much.

But an igbo adage says.

Ebe onye si eri ka ona awachi.

Na lie all
these are blackmail, how many people are now using tin tomato paste when natural tomatoes are abound in the open markets all over the country thanks to Hausa tomato farmers .
I don't know when last I saw tin tomatoes in my kitchen.

Chukzyfcb:
he couldn't penetrate the market, had 6billion worth of goods unsold and yet he was looking for more forex to import more goods.
it was obvious the tomato importers are just way competitive in the business. too bad

If you have ever done business. You will understand the cost of production increases wen you operate below capacity whicg means his product is way expensive.....


Think rational mr. Abi he still do propaganda with gis business.... Wat stopped him from leaving since 2009 he set up. Is it coincidence he decided to leave under apc.

Ok wat about the land he returned in kastina because he couldn't secure forex to push it...
I dey shame for ur zone b ism

[quote author=Dreamscometrue post=50817987]Buhari is a fool and a destroyer



That company is said to be owned by a BIAFROG so it should go no wahala in any case biafrogs don't farm the required raw material needs tocrun the company !

Did I miss something? Or didn't he say he needed forex to import tomato paste?

kindklemz:


What kind of human being are you.
You are full of so much bitterness and hatred.
Must everything be about Igbo or Afonja or anything tribalism?
Oh God,when and how did we get to this stage?
The world is moving forward and countries are fostering unity and breaking down all known barrier walls while my brothers down here are busy creating enmity through all manner of hate speeches.
Its OK,continue.

Take your sermon to your fellow pussycat clawed faces the Afonja. You people started this tribal bashing . Igbos don't look for trouble but are very brutal when you look for their trouble. It has started and won't end and the way it's going now, I am afraid the end will be disastrous

kindklemz:


What kind of human being are you.
You are full of so much bitterness and hatred.
Must everything be about Igbo or Afonja or anything tribalism?
Oh God,when and how did we get to this stage?
The world is moving forward and countries are fostering unity and breaking down all known barrier walls while my brothers down here are busy creating enmity through all manner of hate speeches.
Its OK,continue.

Guy, i tire o. Its so pathetic this days and to make matters worse there is no serious effort by nairaland to clamp down on this guys.

seXytOhbAd:
I've noticed that Nigerian government officials are fond of kissing foreigner asses. Isn't it better to support your fellow Nigerian? foreigners settle them
Cost of doing business
Nigerians will be speaking grammar
In related news, cost of tin tomatoes is about to go up. maybe his own will be competitive then Maybe our govt should launch a Nigerian business growth drive program for our local manufacturers. No be everyday China, Lebanese, India. Let us support our brothers. [b] our brothers should play at international level. Why should Oyinbo sell 10 naira and my brother want to sell 11 naira [/b]When an ibo man leaves Nigeria to set up in Ethiopia (OMG), something is wrong!

yeah it means he is not ready to compete

obailala:
Who are the individuals conniving with foreigners to deprive Nigerians businesses of forex?... This is something that seems to have been going on for ages.

what does he need forex for. Is he importing tomato that is even wasting? Abeg mowu hia word

Acecube:
the government should do something about it...



not to hate but Ric-giko needs to improve their standards oh, never knew it was an indigenous paste. They are last in my preference for tomato paste. so sad.

yet he wants to compete with established names

saintmark88:
Pls I will like someone to provide an answer: if he produces locally, why did he keep threatening the govt for forex or he will quit??, what did he need d forex for, since he produces locally and he can get his raw material locally also.

Why couldn't he source for his own forex, d way others r sourcing for forex, y nid the govt to give u scarce forex at the parallel market rate??

I would love intelligent ansas to these questions

He produces locally does not mean everything involved in the production is local. The tomatoes are local but there are other ingredients in tomato paste that are not local.... take time out to read invredients. The plant has to be maintained.... spare parts etc are not local. Is packaging for the tomato paste local? All of these require forex. But then you ask why does he need forex.... but you don't question why the Chinese and the Lebanese and the Indians also need forex and are allocated but not him. No country gives a foreign entity an advantage over a local company.... the local company always has the advantage but this is not the case and you seem to be missing that. The imported tomato paste that is so much better... do you really know what you are eating?...what percent of the product is really tomato?...and what the 'other ingredients' really are? You would be surprised.

Originalsly:
He produces locally does not mean everything involved in the production is local. The tomatoes are local but there are other ingredients in tomato paste that are not local.... take time out to read invredients. The plant has to be maintained.... spare parts etc are not local. Is packaging for the tomato paste local? All of these require forex. But then you ask why does he need forex.... but you don't question why the Chinese and the Lebanese and the Indians also need forex and are allocated but not him. No country gives a foreign entity an advantage over a local company.... the local company always has the advantage but this is not the case and you seem to be missing that. The imported tomato paste that is so much better... do you really know what you are eating?...what percent of the product is really tomato?...and what the 'other ingredients' really are? You would be surprised.

I agree with u o, buh how can u prove tht d FG gives Indians, Chinese and Lebanese forex at the inter bank market rate??.. ....is tht an allegation or a fact??

saintmark88:


I agree with u o, buh how can u prove tht d FG gives Indians, Chinese and Lebanese forex at the inter bank market rate??.. ....is tht an allegation or a fact??

I cannot prove it... can you prove what he is saying is a lie? Don't official take bribes?... and you think foreign entities don't know that and would do so to get things their way? Do you think it is normal for foreign companies to treat locals like animals and not be prosecuted? Why?

Originalsly:
I cannot prove it... can you prove what he is saying is a lie? Don't official take bribes?... and you think foreign entities don't know that and would do so to get things their way? Do you think it is normal for foreign companies to treat locals like animals and not be prosecuted? Why?

If u cannot prove, den dnt come out spreading it like its a fact, why won't foreign companies treat locals like trash wen locals treat other locals like trash... It's what they saw trending on ground Tht made dem follow suit.... Why r bank staff not allowed to have a union, is it foreigners that manage and own these banks??...... I am not just in support of his blackmailing tactics, if u want to go, go.... U Thts talking, how many times have u cooked nd decided to buy his product... Truth is his product is among d least on most Nigerians scale of preference... Nigerians would always go for Gino....... I dnt even know d name of his product

saintmark88:


If u cannot prove, den dnt come out spreading it like its a fact, why won't foreign companies treat locals like trash wen locals treat other locals like trash... It's what they saw trending on ground Tht made dem follow suit.... Why r bank staff not allowed to have a union, is it foreigners that manage and own these banks??...... I am not just in support of his blackmailing tactics, if u want to go, go.... U Thts talking, how many times have u cooked nd decided to buy his product... Truth is his product is among d least on most Nigerians scale of preference... Nigerians would always go for Gino....... I dnt even know d name of his product

We treating ourselves badly should not be a reason for others to do the same. If your youngest sibling is always misbehaving and you and other family members always beat him badly.... what would you and the rest of your family do if he misbehaves and I decided to beat him badly? Countries are like big families... always have problems... but don't invite outsiders to exploit and suppress them. On the quality of his product... everyone starts from somewhere.... the foreign products you champion didn't start off as top shelf... but got support from their citizens. If we condemn and not support our own how would we ever develop? ...we would always be dependent on others.