obailala:
Maybe if you miraculously create forex in the central bank's reserves, then the present administration wouldnt have a hard time providing forex to foreign investors to repatriate their profits.

They don't have foreign exchange because demand outstrips supply caused by their artificial regulation so every Tom, Dick and Harry is buying up all the dollars available to hedge against inflation, simple. This government's rubbish policies is killing the economy. Float the naira and people will become net sellers not buyers. It is highly profitable today to trade in currencies rather than real goods and proper services. You people just keep politics out from all this mess and use your senses for once.

erico2k2:

take a look at this
https://www.youtube.com/watch?v=o_nPzMt0KW4
That alone is costing me roughly 18 to 20 million to set up in PH cos bamboo is almost free there.Now tell howlong would it take me to brake even selling at N200 a pack?? As you can see, Im not just talking Im actually putting my money where my mouth is.So from a Business point of view cant you see how this is dificult?if I invest my N20M in importing , I get to make more money

you will operate at a loss in a short term but it will take years to even get a break even point before you start making profits.
The macro environment is kinda harsh,scared of setting up factories.except you partner with experts to grow the Biz fr one.

So Please people of Nigeria when you hear importation of toothpick dont just think cos its cheap its o ne hell of auselss propaganda tool, its actually very expensive to set up a toothpick factory,
to be honest, its easier to set up a clothing factory and Nail plant than to set up a toothpick machine
The nail machine is actually cheaper cos its just one machine. toothpick is up to 7 machines in some instance.
We need to be guided to waht we hear and say.
@ AntiWailer, where was we

Bizibi:
you will operate at a loss in a short term but it will take years to even get a break even point before you start making profits.
The macro environment is kinda harsh,scared of setting up factories.except you partner with experts to grow the Biz fr one.

Thank you,Im glad you saw this from a person point of view,But there are ways I can make teh day I brake even come fru,this has to do with good government policies.They can help reduce the pain in money I will go fru in Nigeria.They can bring in juicy incentives like the Chinese are doing.

erico2k2:
So Please people of Nigeria when you hear importation of toothpick dont just think cos its cheap its o ne hell of auselss propaganda tool, its actually very expensive to set up a toothpick factory,
to be honest, its easier to set up a clothing factory and Nail plant than to set up a toothpick machine
The nail machine is actually cheaper cos its just one machine. toothpick is up to 7 machines in some instance.
We need to be guided to waht we hear and say.
@ AntiWailer, where was we

I dnt know what u qant to get from this but my submission is simple.

We should not be importing

Tooth pick

Rice

Plastic

And other useless things . Period.

No country, I repeat, no country except perhaps China generates the foreign exchange it needs by exports alone. Most countries depend heavily, some up to 50 percent of their budgets on foreign investment, and how will you attract it if you are not ready to trade. Who will invest if they cannot get their money out and back. Stupid people playing blind politics and dying in poverty. When you see figures drop by such a large margin, well meaning, sensible people will look closely with serious concern and not just make childish, silly comments. Is it China getting poorer or we. What has the economic policy of this government brought positively in 2 years but pain and more pain... rubbish.

AntiWailer:


I dnt know what u qant to get from this but my submission is simple.

We should not be importing

Tooth pick

Rice

Plastic

And other useless things . Period.

You are missing the point, talking is cheap, are you and your likes willing to invest N15-20 million of your money to produce toothpick for Nigerians to buy @N200 naira a pack? its a simple question, and stop calling it useless thing, as far as there is a consumer mkt for a product it not useless however simple and small it might seem.

Reference:
No country, I repeat, no country except perhaps China generates the foreign exchange it needs by exports alone. Most countries depend heavily, some up to 50 percent of their budgets on foreign investment, and how will you attract it if you are not ready to trade. Who will invest if they cannot get their money out and back. Stupid people playing blind politics and dying in poverty.

Thank you,this is a good point

erico2k2:

You are missing the point, talking is cheap, are you and your likes willing to invest N15-20 million of your money to produce toothpick for Nigerians to buy @N200 naira a pack? its a simple question, and stop calling it useless thing, as far as there is a consumer mkt for a product it not useless however simple and small it might seem.

so all consumable products must be imported ?

import rice, chicken , turkey etc.

I am done with this discussion.

AntiWailer:


so all consumable products must be imported ?

import rice, chicken , turkey etc.

I am done with this discussion.

Mr Man stop putting words in my mouth, where did I say or use teh word MUST
All Im saying is for the allowance of mkt force to determine what we buy and sell..Today we buy Nigerian nails cos we have imported teh nail machines into Nigeria and its cheap to import,nails made in NIgeria are cheaper than those imported from china so we are buying Nigerian made nails, so it will be for other goods and services if we allow a free economy.

erico2k2:

Thank you,Im glad you saw this from a person point of view,But there are ways I can make teh day I brake even come fru,this has to do with good government policies.They can help reduce the pain in money I will go fru in Nigeria.They can bring in juicy incentives like the Chinese are doing.

you would have taken your time before venturing into it,Biz like this you will need experts from Asia or Europe to partner with and yes govt policy is very significant to bizmen,I think it has reached a point were state government can have some powers to protect businesses with their policies, I'm tired of waiting fr approval from abuja before anything starts,that is the reason why we keep hammering on federalism.
It will be easier fr isolated giants like gazprom and sinopec to invest without headaches.

I thought of bringing in an investor but the politics you will play alone before they settle down........investors are will to come but the system we are running is making things difficult

erico2k2:

Thank you,Im glad you saw this from a person point of view,But there are ways I can make teh day I brake even come fru,this has to do with good government policies.They can help reduce the pain in money I will go fru in Nigeria.They can bring in juicy incentives like the Chinese are doing.

you would have taken your time before venturing into it,Biz like this you will need experts from Asia or Europe to partner with and yes govt policy is very significant to bizmen,I think it has reached a point were state government can have some powers to protect businesses with their policies, I'm tired of waiting fr approval from abuja before anything starts,that is the reason why we keep hammering on federalism.
It will be easier fr isolated giants like gazprom and sinopec to invest without headaches.

I thought of bringing in an investor but the politics you will play alone before they settle down........investors are willing to come but the system we are running is making things difficult

Bizibi:
you would have taken your time before venturing into it,Biz like this you will need experts from Asia or Europe to partner with and yes govt policy is very significant to bizmen,I think it has reached a point were state government can have some powers to protect businesses with their policies, I'm tired of waiting fr approval from abuja before anything starts,that is the reason why we keep hammering on federalism.
It will be easier fr isolated giants like gazprom and sinopec to invest without headaches.

I thought of bringing in an investor but the politics you will play alone before they settle down........investors are willing to come but the system we are running is making things difficult

You my friend is not far frm the truth,I have thought of it and sadly I might stop but I was lucky same company do other machines so Im diverting. toothpick idea was good as bamboo was almost free but hey.

ehissi:


Shebi Lai Mohammed said one time, that after Buhari's visit to China, trade relations with China will increase, and the government offered to Change a significant portion of our reserves to Yuan so that people can import from China. After all we don't need dollar............

What has happened now?

Meanwhile Baba dey chop egg and bacon for London..........

With their yeye voodoo economics.........

I am not holding brief for anyone...na solution I dey find

erico2k2:

You my friend is not far frm the truth,I have thought of it and sadly I might stop but I was lucky same company do other machines so Im diverting. toothpick idea was good as bamboo was almost free but hey.

my bro take your time,look fr your the right company to use abroad to run your company before spending......
That is the option fr any bizmen in Nigeria and that was the decision I took this year.
If bringing in big investors,you change their name to avoid leeches from govt officials.we just pray this year is good for all of us

Bizibi:
my bro take your time,look fr your the right company to use abroad to run your company before spending......
That is the option fr any bizmen in Nigeria and that was the decision I took this year.
If bringing in big investors,you change their name to avoid leeches from govt officials.we just pray this year is good for all of us

Yesoo, Im holding my money atm,Im sticking to importation right now via the Mrs cos she is in Nigeria so its all good,But I wish i could venture into manufacturing and make an Impact.But like you said, lets see what this year brings.

erico2k2:

Yesoo, Im holding my money atm,Im sticking to importation right now via my Mrs cos she is in Nigeria so its all good,But I wish i could venture into manufacturing and make an Impact.But like you said, lets see waht this year brings.

I love manufacturing but still need to do some research on both fed and state government functions on policy making relating to Biz.so that one can take precautions to avoid spending above.......you know money worshipping in nigeria is something else.

Bizibi:
I love manufacturing but still need to do some research on both fed and state government functions on policy making relating to Biz.so that one can take precautions to avoid spending above.......you know money worshipping in nigeria is something else.

\yes thats true, corruption everywhere.They will fustrate you in all ways.N400k was added to my clearing bills of a container from nowhere and thier delays incurred dumorage, these guys are blood suckers.

erico2k2:

\yes thats true, corruption everywhere.They will fustrate you in all ways.N400k was added to my clearing bills of a container from nowhere and thier delays incurred dumorage, these guys are blood suckers.

real blood suckers,any little thing na money,this country is a jungle without forest.

obailala:
Maybe if you miraculously create forex in the central bank's reserves, then the present administration wouldnt have a hard time providing forex to foreign investors to repatriate their profits.

I cant remember ever telling anyone to vote for me that I would fix Nigeria problem.

You should take your message to those that promised you that.

woodcook:


I cant remember ever telling anyone to vote for me that I would fix Nigeria problem.

You should take your message to those that promised you that.

Well, I was only correcting a false claim that you made that it was an intentional policy of the current government that prevents foreign investors from being able to repatriate their profits as at when due.

Reference:


They don't have foreign exchange because demand outstrips supply caused by their artificial regulation so every Tom, Dick and Harry is buying up all the dollars available to hedge against inflation, simple. This government's rubbish policies is killing the economy. Float the naira and people will become net sellers not buyers. It is highly profitable today to trade in currencies rather than real goods and proper services. You people just keep politics out from all this mess and use your senses for once.

Over 90% of a country's forex inflow comes from one single volatile commodity. The volume of forex flowing into the country in the last 2 years has dropped by well over 60% (courtesy of drop in commodity price and drop in export volume), but you think the bigger cause of the forex scarcity in the market is government policy and not the drastically reduced inflow?... and you think you are not the one being politically sentimental by harbouring this kind of flawed logic?

anonymuz:
why is Nigeria going down under buhari's regime...i just taya

Oga get d gist first, if d trade is declining dat mean something good is happening here at home, so if u re a businessman start looking inward for wat to produce

helinues:
Good news.

Make dem keep all their chinese product to themselves

Chinese these Chinese that..

And most of them are fake. Thanks to our brother from the other side

ODE... get schooled. Until China clone you wella before you go know say them sabi do original. Go ask HP, Apple and co when they use China to produce what you buy from them.

obailala:
Well, I was only correcting a false claim that you made that it was an intentional policy of the current government that prevents foreign investors from being able to repatriate their profits as at when due.

I never said it was an international policy, I said one of the greatest undoing of this present administration in terms of FDI is the uncertainty surrounding the ability of foreign investors to repatriate their profits as at when due

woodcook:


I never said it was an international policy, I said one of the greatest undoing of this present administration in terms of FDI is the uncertainty surrounding the ability of foreign investors to repatriate their profits as at when due

Yeah but the forex restrictions were inevitable considering that the nation's foreign reserves were dangerously low and the supply of fx had drastically reduced when compared with the constant high demand.. With the over 60% decline in fx inflows, what would you have suggested the govt do to plug that gaping hole?... In a nutshell, the fx restrictions were inevitable if the nation was to avoid the Venezuelan situation.

fxbot:
ODE... get schooled. Until China clone you wella before you go know say them sabi do original. Go ask HP, Apple and co when they use China to produce what you buy from them.

Why calling me Ode Mr lecturer.. Respect yourself