Ngozi Okonjo Iweala Said Wal-mart Is Coming To Nigeria, Good Or Bad?


https://www.youtube.com/watch?v=p0I6m8LEXm4

Go to 4:18 on the video. What do you think about this?

I think it is a BAD idea. They will come to Nigeria and import almost everything from China then they will export their revenue out of Nigeria. This will drain the foreign exchange of Nigeria. This is very bad news, we must not allow this to happen. It will also destroy the local economies and will leave thousands of people out of jobs. Wal-Mart will have prices lower than most market so the markets will go down.

It would only be good if 90% of the things sold at Wal-Mart are made in Nigeria.

Wal-Mart is in China but everything is made in China so it is good. But it wouldn't work in Nigeria IMO.

Even India doesn't want Wal-Mart.


https://www.youtube.com/watch?v=Ltu5M5ycpmc

good for the Nigerian consumer

bad for certain retailers (more competition. in fact, one of the strongest competitors in the world.)

ekt_bear: good for the Nigerian consumer

bad for certain retailers (more competition. in fact, one of the strongest competitors in the world.)

You are putting it rather nicely. For some retailers, it means certain death.

Bad Bad Bad

Igbo2011, you are certainly right. In fact I would prefer if it was an indigenous company but even at that it is bad. There first stop would be either these 3 cities Lagos Abuja or Rivers. Now these states we have low turnover traders that sell what walmart is about to sell. Walmart coming means there would not competition, it is a win win for walmart.

What Nigeria needs now is a mega food store like tesco etc but indigneous owned not walmart. Also those food 70% of it should be made and processed in Nigeria.

Thus employment and quality.

igbo2011:
https://www.youtube.com/watch?v=p0I6m8LEXm4

Go to 4:18 on the video. What do you think about this?

I think it is a BAD idea. They will come to Nigeria and import almost everything from China then they will export their revenue out of Nigeria. This will drain the foreign exchange of Nigeria. This is very bad news, we must not allow this to happen. It will also destroy the local economies and will leave thousands of people out of jobs. Wal-Mart will have prices lower than most market so the markets will go down.

It would only be good if 90% of the things sold at Wal-Mart are made in Nigeria.

Wal-Mart is in China but everything is made in China so it is good. But it wouldn't work in Nigeria IMO.

Even India doesn't want Wal-Mart.


https://www.youtube.com/watch?v=Ltu5M5ycpmc

Bad idea. I have seen the effects of what Walmart did to my city here in the states. First, they opened several walmart supercenters 10 - 15 minutes away from each other in key areas of town that are easily accessible by both public and personal transportation. Alot of grocery stores and small businesses started shuting down. When Walmart saw that they were able to beat the competition by sending their competitors outta business, they now jacked up their prices tremendously.

Secondly, as OP rightly mentioned, 90% of goods sold in Walmart are made in China which are sub-standard in quality. There was a time Walmart got in trouble for selling lead tainted toys made in China in her stores. Lead can cause serious illnesses such as cancer. Do we have a good healthcare system in Nigeria should people start developing cancer in alarming rates?

Thirdly, Walmart pays low wages, atleast in the States they do. Why can't we Africans which includes Nigerians support our own? We continue to build up other people's economy by spending our money patronizing other people's products from china to america to europe but when it comes to our own locally made products, we turn our faces the other way. Then later on we wonder why Africa is still a poor continent generally speaking and in comparison to North America and/or Europe. Let's support African businesses from around the continent please and say no to Walmart the small business crusher.

dasparrow:

Bad idea. I have seen the effects of what Walmart did to my city here in the states. First, they opened several walmart supercenters 10 - 15 minutes away from each other in key areas of town that are easily accessible by both public and personal transportation. Alot of grocery stores and small businesses started shuting down. When Walmart saw that they were able to beat the competition by sending their competitors outta business, they now jacked up their prices tremendously.

Secondly, as OP rightly mentioned, 90% of goods sold in Walmart are made in China which are sub-standard in quality. [/b]There was a time Walmart got in trouble for selling lead tainted toys made in China in her stores. Lead can cause serious illnesses such as cancer.[b] Do we have a good healthcare system in Nigeria should people start developing cancer in alarming rates?

Thirdly, Walmart pays low wages, atleast in the States they do. [b]Why can't we Africans which includes Nigerians support our own? We continue to build up other people's economy by spending our money patronizing other people's products from china to america to europe but when it comes to our own locally made products, we turn our faces the other way. Then later on we wonder why Africa is still a poor continent generally speaking and in comparison to North America and/or Europe. [/b]Let's support African businesses from around the continent please and say no to Walmart the small business crusher.

You have said it all !!!

dasparrow:

Bad idea. I have seen the effects of what Walmart did to my city here in the states. First, they opened several walmart supercenters 10 - 15 minutes away from each other in key areas of town that are easily accessible by both public and personal transportation. Alot of grocery stores and small businesses started shuting down. When Walmart saw that they were able to beat the competition by sending their competitors outta business, they now jacked up their prices tremendously.

Secondly, as OP rightly mentioned, 90% of goods sold in Walmart are made in China which are sub-standard in quality. There was a time Walmart got in trouble for selling lead tainted toys made in China in her stores. Lead can cause serious illnesses such as cancer. Do we have a good healthcare system in Nigeria should people start developing cancer in alarming rates?

Thirdly, Walmart pays low wages, atleast in the States they do. Why can't we Africans which includes Nigerians support our own? We continue to build up other people's economy by spending our money patronizing other people's products from china to america to europe but when it comes to our own locally made products, we turn our faces the other way. Then later on we wonder why Africa is still a poor continent generally speaking and in comparison to North America and/or Europe. Let's support African businesses from around the continent please and say no to Walmart the small business crusher.

Very true, this is why I said that even if Africa had no corruption it would be very poor because Africans love foreign goods. I made a site called the Nigerian Economic Development Plan to Curb this: www.nigerianedp.com

Please join the movement, ever since 2012, I have only bought Nigerian clothes and I wear it everywhere (school, events, parties, etc) I also buy more African art and goods. If millions of people do what I do then Nigeria's economy will be a lot better.

alj harem: Bad Bad Bad

Igbo2011, you are certainly right. In fact I would prefer if it was an indigenous company but even at that it is bad. There first stop would be either these 3 cities Lagos Abuja or Rivers. Now these states we have low turnover traders that sell what walmart is about to sell. Walmart coming means there would not competition, it is a win win for walmart.

What Nigeria needs now is a mega food store like tesco etc but indigneous owned not walmart. Also those food 70% of it should be made and processed in Nigeria.

Thus employment and quality.

Isn't there a company in Nigeria that is like Shop rite and it's owned by a Nigerian? What is the name of that company?

ekt_bear: good for the Nigerian consumer

bad for certain retailers (more competition. in fact, one of the strongest competitors in the world.)

It is very important that the upplier benefit not just the consumers. Because the black race is a consuming race. We need to produce more.

igbo2011:
Isn't there a company in Nigeria that is like Shop rite and it's owned by a Nigerian? What is the name of that company?

I can't think of any. Moreover my brother I am talking of a mega store

Shoprite is just in some cities. I would prefer if an indignous own store in every single corner of the nation even to west africa etc

Our people are so dumb. Ghana is trying to protect this important sector while our leaders are still blind.
It's only a visionary that could rescue Nigeria because all we have are people that can't think.

Reminds me of this thread. https://www.nairaland.com/940805/become-millionaire-north-america-hard

alj harem:

I can't think of any. Moreover my brother I am talking of a mega store

Shoprite is just in some cities. I would prefer if an indignous own store in every single corner of the nation even to west africa etc

We need to think with a more Pan-African mind set. The way I see it, as long a the company is African then it i cool. If a company from Mali wants to do open up tores in Nigeria let them do it. But we shouldn't allow foreigners from outside of Africa to do the same.

Obiagu1: Our people are so dumb. Ghana is trying to protect this important sector while our leaders are still blind.
It's only a visionary that could rescue Nigeria because all we have are people that can't think.

Reminds me of this thread. https://www.nairaland.com/940805/become-millionaire-north-america-hard

Ye we need to wake up, we cannot let our entire economy be controlled by foreigner. We can't be economic slave forever.

igbo2011:
We need to think with a more Pan-African mind set. The way I see it, as long a the company is African then it i cool. If a company from Mali wants to do open up tores in Nigeria let them do it. But we shouldn't allow foreigners from outside of Africa to do the same.

Yeah but really this pan-africanism does not really exist. Fact !!!

1. I would love to see this mega food store owned by a Nigerian owner

2. I would love to see this megafood store get her farm produce from Nigerian farmers who are well paid.

3. I would love to see the ones not grown in Nigeria grown anywhere in the world but still under the company name

4. The company should provide at least 10 million jobs if not more (from the fram, retailer, transporter, logistics, business men, checkout point (for student quick cash), etc)

5. The company should have branches all over africa and in fact the world.

Igbo2011 to be honest, that is what I want.

i can't imagine silverbird being owned by some foreign company. Ben bruce u are one great nigerian

alj harem:

Yeah but really this pan-africanism does not really exist. Fact !!!

1. I would love to see this mega food store owned by a Nigerian owner

2. I would love to see this megafood store get her farm produce from Nigerian farmers who are well paid.

3. I would love to see the ones not grown in Nigeria grown anywhere in the world but still under the company name

4. The company should provide at least 10 million jobs if not more (from the fram, retailer, transporter, logistics, business men, checkout point (for student quick cash), etc)

5. The company should have branches all over africa and in fact the world.

Igbo2011 to be honest, that is what I want.

I am trying to tart a pan-african movement but people are too triba its hard mh.

I am very interested in the retail business, so maybe this can be one of my ventures in hte not so distant future. The exact business that you listed.

aasog1: Walmart will create employment, but it would still be exploitative like it is in the US.
A friend who worked with them in PA, confessed he gets $7.40 per hour, amidst the presence of strong labor union unlike here where labor easily compromises.
So payment would definitely be peanuts, and the hours would be long and horrible. But consumers will benefit, as there would be higher influx of cheaper products.
I dont know why NOI thinks bringing Walmart to Nigeria is an achievement. The chain of value would be like MTN. 5% of their Net Profit and ROI stays in Nigeria, the rest 95% flows back to the US.
But anyways, shes doing something atleast

Nah NOI is making a mistake.This will make Nigerians even poorer.

igbo2011:

I am trying to tart a pan-african movement but people are too triba its hard mh.

I am very interested in the retail business, so maybe this can be one of my ventures in hte not so distant future. The exact business that you listed.

I understand

LOL good it would be nice to see you do just that, I would not mind joining your team to see this dream come to reality.

The tribal this starts and end on Nairaland. Pan africanism is a general concept but pan Nigerian is good and I am one myself

is that her knowledge and believe of foreign investors? or is she re-investing her own share of the fuel subsidy loots? God will soon catch all of them. at the end of the soon coming revolution, they will either loose all they have here in nigeria or foreign govt.
wicked rulers.

It should come as no surprise at all. Democracy and Capitalism go hand in hand. You will not get one without the other. . . democracy empowers you to make choice, capitalism narrows your choices to a pre-selected pocket. You think wal mart is bad. . . wait till they start telling you, in the name of democracy, how you will spend your money.

How many Nigerians eat from the conveyor belt? Paltry.
Rabid capitalist in an unregulated market,i feel sorry for the Nigerian 'middle class' oblivious of the health implication of unfettered bargain bin retailer.

Ngozi never disappoints,she would do ,say anything to be seen or hailed.

Walmart is great for the middle class and the poor in America.

For 99% of Americans, Walmart is great.

For the small shops they crushed, Walmart sucked.

But having big, efficient companies like Walmart overall is a positive for us. Supposedly they help reduce our national inflation rate, lol

The Real Roots Of Wal-Mart <---research it, link not functioning


http://blockyourid.com/~gbpprorg/judicial-inc/84Walton_funding.htm

The Robsons Were Slave Traders

The Robson family's real surname was Robelsky – they were English slave traders that settled in Savannah. This area was for the super-rich of the time. They were slave traders, rum-runners, tobacco traders, gun-runners, etc


This Is No Different Than The Robel/Robson Plantation

Two hundred years ago, Ephraim Robelsky sent his slave traders to Africa, brought back black slaves, and sold them like cattle. Today, Harold Johnson has no health insurance, gets no overtime, and if he merely mentions a union, then he is out of a job.

Walmart - High Cost of Low Prices
1:37:37 - 6 years ago
What are the low prices of Walmart costing not only America, but the entire world?


http://video.google.com/videoplay?docid=-3836296181471292925

This is unfortunate. Highly educated lot can only import already established exploitative ventures. With all her training in economics, there's no other way to drive local goods&traders. With due respect as finance minister, she is clueless.

dasparrow:

Bad idea. I have seen the effects of what Walmart did to my city here in the states. First, they opened several walmart supercenters 10 - 15 minutes away from each other in key areas of town that are easily accessible by both public and personal transportation. Alot of grocery stores and small businesses started shuting down. When Walmart saw that they were able to beat the competition by sending their competitors outta business, they now jacked up their prices tremendously.

Secondly, as OP rightly mentioned, 90% of goods sold in Walmart are made in China which are sub-standard in quality. There was a time Walmart got in trouble for selling lead tainted toys made in China in her stores. Lead can cause serious illnesses such as cancer. Do we have a good healthcare system in Nigeria should people start developing cancer in alarming rates?

Thirdly, Walmart pays low wages, atleast in the States they do. Why can't we Africans which includes Nigerians support our own? We continue to build up other people's economy by spending our money patronizing other people's products from china to america to europe but when it comes to our own locally made products, we turn our faces the other way. Then later on we wonder why Africa is still a poor continent generally speaking and in comparison to North America and/or Europe. Let's support African businesses from around the continent please and say no to Walmart the small business crusher.

Well said!

More neo liberal economic policies from the world bank lackey! I have said it and will continue to say tht this woman will not rest until she brings nigerians collectively to our knees. It is becoming clearer evry day as to why the americns imposed this accursed woman on us, as u cn see she is doing evry thing to favour foreign multinatnls whilst simultaneously damaging domestic businesses. Walmart r a monopoly they r responsibl for decimating the livelihood of thousands of small scale busineseses in america in addition they regularly break or circumvent labour laws , they r hated in america for their unscrupulous business practices we r talkng abt a corporation tht takes out life insurance covr on their employees whch is paid to the company on the employees death- not to the employees dependants imagine that! The insurance cover is evn calld dead peasants insurance covr!! This is how they repay their employees who ve put in years of back breakng labour!

If they cn xploit their workrs in america wth all the safety nets of social security and health insurance imagine wht they will get away wth in nigeria where its evry man for himself! They will use nigerian workrs as slave labour knwg tht there r no laws to protect them. Okonjo iweala is the ultimate traitor and sell out .how much more pain will nigerians be prepared to tolerate frm this woman?

This is why I have always said that the kind of conservative, neo-liberal laissez-faire economics Madam NOI espouses is bad for developing countries.

No country ever attained development by opening up completely. A sensible country will first and foremost strengthen and protect its own industry until it is strong enough to compete with established foreign competitors. If we continue on this path, we will have nothing to call our own.

cap28:
More neo liberal economic policies from the world bank lackey! I have said it and will continue to say tht this woman will not rest until she brings nigerians collectively to our knees. It is becoming clearer evry day as to why the americns imposed this accursed woman on us, as u cn see she is doing evry thing to favour foreign multinatnls whilst simultaneously damaging domestic businesses. Walmart r a monopoly they r responsibl for decimating the livelihood of thousands of small scale busineseses in america in addition they regularly break or circumvent labour laws , they r hated in america for their unscrupulous business practices we r talkng abt a corporation tht takes out life insurance covr on their employees whch is paid to the company on the employees death- not to the employees dependants imagine that! The insurance cover is evn calld dead peasants insurance covr!! This is how they repay their employees who ve put in years of back breakng labour!

If they cn xploit their workrs in america wth all the safety nets of social security and health insurance imagine wht they will get away wth in nigeria where its evry man for himself! They will use nigerian workrs as slave labour knwg tht there r no laws to protect them. Okonjo iweala is the ultimate traitor and sell out .how much more pain will nigerians be prepared to tolerate frm this woman?

cap28 you warned us about this woman at the onset but most Nairalanders discredited your submission about her except for few of us now it seems we have no choice than to enjoy the demonic offer this woman and her IMF/WORLD BANK masters have got for us

igbo2011:

Very true, this is why I said that even if Africa had no corruption it would be very poor because Africans love foreign goods. I made a site called the Nigerian Economic Development Plan to Curb this: www.nigerianedp.com

Please join the movement, ever since 2012, I have only bought Nigerian clothes and I wear it everywhere (school, events, parties, etc) I also buy more African art and goods. If millions of people do what I do then Nigeria's economy will be a lot better.


Isn't there a company in Nigeria that is like Shop rite and it's owned by a Nigerian? What is the name of that company?



It is very important that the upplier benefit not just the consumers. Because the black race is a consuming race. We need to produce more.

EVERYDAY SUPERMARKETS IN PH AND ABJ (i am sure of that one!!!)

Capitalism has struck again!! I guess this is the end of the Igbo man, and his business; welcome the china man and his business; and it's courtesy pig faced Okonjo Iweala lol..

Does this woman think with her fat lips, or does her brain work backwards?? This stupid capitalist initiative will skyrocket the poverty level in Nigeria..

Oknojo Iweala should be slapped for even thinking about bringing walwart to Nigeria, end of.

Aigbofa:

You are putting it rather nicely. For some retailers, it means certain death.

Coffin makers go lick their hands cos business don land osondi owendi

Lol: Nigerians shaaaaaaaaaaaaaaaa

BOI: Developing SME's.
NOI:
What a sick country!