Sunnycliff:
We told them that Buhari has nothing to offer, that he is a dead wood, but they called us 5%, am happy we have been vindicated.

We are not joining in the protest. I will laugh to scorn on that day.

You don't have to go just to make fun of them..They already know Buhari is a big mistake..i voted for Jonathan but will be joining the protest as well, because i am also affected.The hunger is not only restricted to only APC supporters..it cut across.let us forget the past and think of how to get our voice out for ones in Nigeria.But truly, i think this protest should be centered around restructuring of Nigeria..that is the way to go.

I think people are being deliberately and stupidly over critical of Buhari. There is no forex!!!!!!!
Oil prices have plummethed more than 70% from USD110 per barrel to USD30 per barrel in 2015. We went from having more than USD60 billion in our foreign reserves when Jonathan assumed office to less than USD30 billion when Jonathan left. There is no forex to give to any manufacturers.
These people should stop making it seem like Buhari is storing dollars under his bed. There is just no forex!!!!!!!!!!!!
Jonathan used all of it to bribe traditional rulers and his PDP people like Koro, Omisore, FFK and Fayose.
What the CBN is doing now is to ration the very little that is available. Please lets put on our thinking caps and reason like sensible people. There is no forex!!!!!!!!!!

Abeg e don do.
No let me start to day weep for Nigeria

14teenK:
Even kids are suffering...do you realize how drastically the quality and size of biscuits have reduced in Nigeria Seriously am I the only one that noticed

ehie:
since you are so learned, China pumped millions into their companies and gave them aid so they could grow ,that was in the nineties, and when America had it recession it pumped millions into banks companies etc, then why is the Nigerian government determined to kill its companies and not aid them when the government cannot provide jobs, security, shelter and clothing for its citizens?

There is a difference between pumping money into a company and giving it Forex! Forex is pumping money into a foreign company.

There are 2 things that makes you innovate, you are either forced or have a need to address.

The Govt may not have the money to pump into the companies (oil price drop in a mono-economy) and may thus depend on the scarcity of Forex to force people to innovate. Is it the best idea, No!; Is it workable, Yes.

But no body was buying his cars na. I also thought innoson was a 100% indegenous car manufacturing company. Are they now admitting they import all their parts and are just an assembly parts shop? Because I am not understanding how Buhari's policies will affect a 100% indigenous car company. This will be the time for them to actually grow.

duni04:
I think people are being deliberately and stupidly over critical of Buhari. There is no forex!!!!!!!
Oil prices have plummethed more than 70% from USD110 per barrel to USD30 per barrel in 2015. We went from having more than USD60 billion in our foreign reserves when Jonathan assumed office to less than USD30 billion when Jonathan left. There is no forex to give to any manufacturers.
These people should stop making it seem like Buhari is storing dollars under his bed. There is just no forex!!!!!!!!!!!!
Jonathan used all of it to bribe traditional rulers and his PDP people like Koro, Omisore, FFK and Fayose.
What the CBN is doing now is to ration the very little that is available. Please lets put on our thinking caps and reason like sensible people. There is no forex!!!!!!!!!!

The most Brilliant chap on this thread!

Some peeps just shouting "Protest" without knowing the cause of our present woes.

Lordsocrates:
it will be very very funny to see Biafrans protesting for Nigeria ...
Foreign Exchange scarcity---I thought we had Inosson to produce cars so we don't waste foreign exchange in importing foreign cars...So if Innospn is importing these same car to package then which way.

On PHCN, that one na true talk since dem sell off our PHCN na so so electric tariff dey high, but light no dey....

I will join the protest from my phone.

Bros, the post didn't talk about his vehicle manufacturing factory in Nnewi rather, it was specifically talking about his plastic manufacturing factory in Emene Enugu State that require some raw materials abroad to produce.

Venue of the protest?

Why on a sunday? I won't Join it should be on a friday or Monday

Join politics... everything is not about protest. Entertainers who allowed themselves to be used by politicians are just as bad as the politicians. Join politics and change the game from within.

7Alexander:

You probably intended this to be funny. But, you only showed how shallow you are. How can you buy it when your parents still cater for all your needs? You are probably a Jambite who hasn't woken up to the reality of the time

dont mind d idiot

CXLVII:


The most Brilliant chap on this thread!

Some peeps just shouting "Protest" without knowing the cause of our present woes.

you and the person you are quoting are obviously high on something. The op complained about scarcity of forex, yes, but the protest is not just about that. The protest is to show the grievances of Nigerians. We are essentially saying that we can't be buying gas at double the amount, not kerosene. We are saying enough is enough with Ikeja Disco and other discos who are giving us scary bills for no light provided. We are saying the price of foodstuff and other essentials that have doubled needs to come down. We are saying enough is enough with clueless, delusional leaders and myopic followers. We are uniting to decry a lack of empathy towards victims of Fulani attacks and no justice for them. Stop defending what should not be defended and stand for the truth for once in your lives

Operation chase the devil back into his HELL HOLE is gaining momentum!
#Iyalaya any demonic ruler!
#enough of rawbishness!

I prayed and keep praying that the people who voted Buhari in would suffer most.

Akainzo:


There is a difference between pumping money into a company and giving it Forex! Forex is pumping money into a foreign company.

There are 2 things that makes you innovate, you are either forced or have a need to address.

The Govt may not have the money to pump into the companies (oil price drop in a mono-economy) and may thus depend on the scarcity of Forex to force people to innovate. Is it the best idea, No!; Is it workable, Yes.

INNOSON IS NOT ASKING THE GOVERNMENT FOR AID BUT FOR THE ABILITY TO ACCESS MATERIALS WHICH HE CANNOT, YET YOU DENY HIM THIS,
WHAT HAS THIS FOREX POLICY BEEN ABLE TO ACHIEVE, IS IT THE RICE SELLING FOR 20,00 WHEN THE MINIMUM WAGE IS 15K..

IS IT THE SICK THAT HAVE NO ACCESS TO HEALTHCARE ABROAD , IS IT DENYING NIGERIANS THE RIGHT TO ACCESS QUALITY EDUCATION IN ANY COUNTRY THEY DEEM FIT,

WHAT HAS THIS GOVERNMENT ACHIEVED.HOW WILL HE INNOVATE WITH NEPA BILLING HIM 50 MILLION A MONTH,

WHAT DOES HE MAKE, THIS IS MAN EMPLOYING 450 PEOPLE, ALMOST A MINISTRY,

COUNTRIES YOU EMULATE WERE BUILT ON SMALL BUSINESS, BUT YOU RATHER DESTROY THE FEW ONES TRYING TO MAKE IT HERE, ALMOST ALL FOREIGNERS ARE DUMPING THEIR SHARES AND RELOCATING BUT NIGERIA IS KILLING THE FEW NIGERIANS WHO ARE PATRIOTIC, I DONT BLAME YOU, ITS BECAUSE YOU HAVE NEVER EMPLOYED ANY ONE IN YOUR LIFE, NEVER PRODUCED A THING BUT A A PRODUCT OF A PARASITIC SYSTEM...
UNA TOO MUMU WITH NO ECONOMIC RECOVERY PLAN, NO WONDER YOU WERE BOUNCED BY ADESINA AND WORLD BANK MUMUS IN GOVERNMENT ..
WHEN U HAVE AN ECOMIC RECOVERY PLAN I WILL READ YOUR STINKING COMEBACK LINE LOSER (S)

Lordsocrates:
it will be very very funny to see Biafrans protesting for Nigeria ...
Foreign Exchange scarcity---I thought we had Inosson to produce cars so we don't waste foreign exchange in importing foreign cars...So if Innospn is importing these same car to package then which way.

On PHCN, that one na true talk since dem sell off our PHCN na so so electric tariff dey high, but light no dey....

I will join the protest from my phone.

Name 3 raw materials Nigeria has developed that can be used to manufacture a fake toy can?

You have not seen anything yet, by the time this FULANI MAN finish dealing with these ugu children the will be proud to be called al-majiri children.

stephenduru:
As shared by Innoson Motors media aide Cornel Osigwe...

'Why I May Join 2Baba (Tuface) For The Nationwide Protest

This month makes it exactly one year I started working as a Public Relations and Media Consultant with Innoson.

Sometime in the month of December last year, I was privileged to have Chief Dr Innocent Ifediaso Chukwuma OFR tour me round his Plastic Manufacturing Company in Enugu.

It must be noted that Innoson Technical and Industrial Co Ltd Emene Enugu is the largest plastic manufacturing company in West Africa with product portfolio that covers over 150 lines of products.

This company with over 4500 employees may soon close down if urgent necessary steps are not taken to put it back in shape, all thanks to the Federal Government unfavourable policies against the Manufacturing sectors by lack of provision of necessary foreign exchange to the manufacturers to inport some foreign inputs needed for production.

As we toured round this factory with gigantic injection moulds and different large forms of industrial machines, I can only but weep. Noticing that over 85 percent of the production lines were closed down and the workers sitting idly discussing, I sorrowfully asked Dr Chukwuma, what is the main reason why these machines are not in production? He responded thus:

1. Foreign exchange: He said as at that period, the last time CBN approved forex for him was 6 months ago and his companies need over 3Million Dollars’ worth of forex monthly in order to sustain its production. There is a high demand for their products, but there is little he can do if he can’t access forex to get the foreign input needed for production. Hence the forex scarcity is a major reason why his factory has closed down over 85% of its production lines.

2. Light. Another reason he gave is the rising cost of PHCN bills. PCHN brings a monthly bill of between N30M – N50M on a monthly basis. He has repeatedly written to the management of Enugu Electrical Development Company EEDC to look into the high cost of bills they send to him which is ever rising. With the current low production, he told them to disconnect the light from his factory pending when they start full production again.
I am of the opinion that the Federal Government should look into the activities of Electrical companies in Nigeria if there is any hope of survival of the few remaining manufacturing companies.

I then asked him again, “so why do you still retain your workers since there is virtually no production going on”? His response made me shed tears again. He said “Most of these workers have been with me for years, their family depend on this factory for their daily bread. If I sack them and shut down, what will become of them? He said he called all his workers and told them the true situation of things, that the inflows coming into the company has basically reduced, and told them he will not sack them and won’t shut down because he still has faith in the ability of FG to turn things around but he has to reduce their salaries by 25% pending when full production continues. And the workers gladly accepted his proposal.

I know many manufacturing companies that have closed down due to the same situation being faced by Innoson Technical. Last year, Erisco foods shut down his factory because of this same situation. I learnt Airtel is about leaving Nigeria, and Etisalat are on the verge of mass sack of their employees.

It was the late Chinua Achebe who said Things fall apart when the centre cannot hold. Indeed Things has fallen apart in Nigeria because the centre cannot not hold.

I therefore join my voice to other progressive voices calling on Mr President to address the various economic challenges troubling us. I hereby endorse Febuary 5th nationwide Protest to Call for Good Governance and I call on everyone who wishes for the Good of our Nation to do so.

Lastly, I want Mr President to succeed. Let him not see the protesters as people who oppose him but people who love him and want him to leave a good legacy. It was Socrates, the Great Philosopher who once said “listen more to people who criticize you than to people who praise you”.

A New Nigeria Is Possible
Cornel Osigwe
2017'


Source: http://www.trezzyhelm.com/2017/01/innoson-motors-closes-over-85-of-its.html?m=1

when avengers where blowing all crude pipe line thinking they where hurting buhari now u see the result scarcity of dollars ..buhari cant manufacture dollar or order cbn to print dollars so next time dont support avengers

Lordsocrates:
it will be very very funny to see Biafrans protesting for Nigeria ...
Foreign Exchange scarcity---I thought we had Inosson to produce cars so we don't waste foreign exchange in importing foreign cars...So if Innospn is importing these same car to package then which way.

On PHCN, that one na true talk since dem sell off our PHCN na so so electric tariff dey high, but light no dey....

I will join the protest from my phone.

OMG you are actually a hyper dullard.

If you actually read the writeup, it focused on its plastic factories which is the biggest in west africa, and yea naija aint developed fully to produce all materials needed for the factory hence the need to import. Besides the CBN has a 60% to 40% forex ratio where 60% go to manufacturers who need raw materials for their factory and 40% is for the rest. Now if someone as rich and connected as innoson cant even secure forex for the RAW materials his factory needs, what do you think is happeneing to the little manufacturers in nigeria.

My own factory have shut down as well cuz of this same issue, a factory that had over 1.5 billion revenues per month in 2015.

It is really sad.

I humbly urge Buhari and all his supporters to take this protest in good faith. This is a protest against bad/poor governance; no one should promise "heaven on earth" during campaign period and deliver "hell" after being voted for, and expect everybody to keep mute. It is simply not fair.
Nigerians should take a stand. Many people that genuinely wanted change voted for Buhari, not because of tribe and religious like a few.

I humbly urge Buhari and all his supporters to take this protest in good faith. This is a protest against bad/poor governance; no one should promise "heaven on earth" during campaign period and deliver "hell" after being voted for, and expect everybody to keep mute. It is simply not fair.
Nigerians should take a stand. Many people that genuinely wanted change voted for Buhari, not because of tribe and religion like a few.

CXLVII:



Who was buying the scrap before? Why put the blame n PMB?

Innoson should go and relax abeg

Swear say u no dey use innoson product?
Oya! Check all you plastic from chairs down to disposable plate you go believe say ur comment no from ur mouth but ur anus.

You that cannot even gather together head of a broom let alone to make a chewing stick.

blaqoracle:
You have not seen anything yet, by the time this FULANI MAN finish dealing with these ugu children the will be proud to be called al-majiri children.

when avenger dey blow pipeline that is the source of the dollars to the economy edey sweet ipod and co now we lost 1 billion barrel of exportable crude which will have earned us 26 billion dollar ....when u blow gas pipe there will not be electricity and we all suffer buhari will not suffer he will have access to dollars and electricty na we poor nigerian go suffer

Lordsocrates:
it will be very very funny to see Biafrans protesting for Nigeria ...
Foreign Exchange scarcity---I thought we had Inosson to produce cars so we don't waste foreign exchange in importing foreign cars...So if Innospn is importing these same car to package then which way.

On PHCN, that one na true talk since dem sell off our PHCN na so so electric tariff dey high, but light no dey....

I will join the protest from my phone.

You must have something funny in your brain when you didn't read where he was talking about raw materials that can't be found in Nigeria

Akainzo:


On the bolded part, if your company needs $3 Million dollars monthly to produce locally, then you are actually NOT producing locally in the true sense of it!

Your company should invest that N2.8 Billion ($3 mln * 3 *320) that it saved from lack of Forex into a local company that can produce that chemical that you need to import monthly! That is how local economy is developed, you can't be shipping out $3 million monthly from scarce Forex.

Remember, there was a time when the plastics you are producing were being imported, the your company was setup to bridge the gap, your company can finance or co-finance another company to produce the much needed inputs, that way more employment for Nigerians and less dependence on Forex.

What you dont know is the worth of products manufactured from the $3 million. If they are worth $7 million for example, it means his company saves $4 million dollars for the country per month. I don't think it's a bad deal.
Remember that much of what is used in plastics production comes from our petrochemicals, and the plant is said to be the largest in West Africa, hence the need for large imports.

Make una knw go ooh make una knw sa i knw telk am DSS dy with 4 una ooh

Alikote:
when avenger dey blow pipeline that is the source of the dollars to the economy edey sweet ipod and co now we lost 1 billion barrel of exportable crude which will have earned us 26 billion dollar ....when u blow gas pipe there will not be electricity and we all suffer buhari will not suffer he will have access to dollars and electricty na we poor nigerian go suffer

Stop that trash jor! Obj returned his loots so did several other looters, add them up yet we never heard anything again. If you like, give this government 260 trillion pounds dem go chop am clean mouth still dey tell you say they meet empty treasury. Everything dey increase, fuel almost double of wetin we buy am 2 years ago. Oh! U wan try NEPA or PHCN? Their Bill now na atomic bomb. House rent nko? Abi na foodstuffs wey im footprint dey for sky

idupaul:
Buhari always claims his policies are to help grow local businesses but in truth local businesses are the most hit by this primitive man and his blind rudderless policies, Buhari and his policies remain anachronistic in fabric of 21st century living and economics ..The man should go period because every hour he spend will make things worse and Nigeria doesn't have an economy that can spring back from such shock that Buhari is delivering.

His policies are always geared towards destroying southerners and their businesses. Especially, SE. That's why they rejected him. I wish he could have proven them wrong. He proved them right.

Blackmail.

Let the jobless ones here rant and rave. For people who pay their taxes, it is a hard pill to swallow for taxpayer funds to be used to subsidize foreign exchange to a private manufacturer who no doubt has already hiked prices using the exchange rate as an excuse.

I also cannot believe I just read someone demanding that the Government subsidize his electricity bill.

Ridiculous.

What on earth was he doing traveling all around the world visiting different political leaders around the world...cant they come to our aid,Abi him been just dey flex hairoflane...chai chai chhhhaaaaiii o!...thats how you scream when you realize buhari had no plan for us

lekkie073:
The storm is gatheringg

This govt misplaced priorities...

Set up 24hrs electricity, good road network and security before these strange forex policies.