Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,155,519 members, 7,826,956 topics. Date: Tuesday, 14 May 2024 at 12:44 AM

Border Closure: 98 Firms Relocate, Others Lose Millions - Politics (5) - Nairaland

Nairaland Forum / Nairaland / General / Politics / Border Closure: 98 Firms Relocate, Others Lose Millions (49235 Views)

Peter Obi, Others Lose Abuja Lands, As Wike Revokes 167 Plots / Assembly Election 2023: Osun Speaker, Others Lose As PDP Wins 25 Seats / Abaribe, Others Lose N300m Bail Bond As FG Rearrests Kanu (2) (3) (4)

(1) (2) (3) (4) (5) (6) (7) (8) (Reply) (Go Down)

Re: Border Closure: 98 Firms Relocate, Others Lose Millions by FarahAideed: 4:21pm On Oct 30, 2019
NGpatriot:
[s][/s]


Save your bitter and hateful rant, just find a neighboring country to relocate.

You will relocate this year in Jesus Name
Re: Border Closure: 98 Firms Relocate, Others Lose Millions by helinues: 4:24pm On Oct 30, 2019
FarahAideed:



So if you are "million richer " you will not tolerate anyone talking to U anyhow ... Baba whether you like it or not I have seen money , cars I have given out ( not tokunboh oo), scholarship I have paid , charity I have done , Baba since I was about 25 years old there is no day I have had less a million naira to spend as I please anyday ..take it from me and by this time next year I will be a Billionaire in Naira and in 5 years a billionaire in dollars and there is nothing you can do about it Sir ..

I get am before no be property.. I am not underrating your efforts oo.. But stop exaggerating things..

Keep things low and watch out for the outcome... We are not doing bad in life... Still a learner though

All the best

1 Like 1 Share

Re: Border Closure: 98 Firms Relocate, Others Lose Millions by fishbone11(m): 4:25pm On Oct 30, 2019
Were these firms into illegal smuggling? Lie in the pit of hell

2 Likes 1 Share

Re: Border Closure: 98 Firms Relocate, Others Lose Millions by CoolAmbience(m): 4:25pm On Oct 30, 2019
eTECTIV:
Last last d govt is jus deceiving itself becos d country is suffering more


Big lie!

Didn't the said companies see these other countries before choosing to site their businesses here?

How does border closure affect them that much when they are producing within Africa's largest market?

Please, tell me those things that come from other neighbouring countries that can't be sourced here for their production activities?

1 Like 1 Share

Re: Border Closure: 98 Firms Relocate, Others Lose Millions by americaninja1: 4:26pm On Oct 30, 2019
Eteka1:
Your analogy doesn't apply here cos rather that move the factory to Ghana or Togo with a smaller market, the factory would remain in Nigeria to guarantee them access to a much bigger market than all the other small ones put together.
Dunlop Nigeria Plc and Michelin had relocated to Ghana. Patterson Zochonis (PZ) is also planning to relocate to Ghana, even as Cadbury Nigeria Plc, Unilever and the International Institute of Tropical Agriculture (IITA) this year, sacked sizeable number of their workers over reported high cost of production, decaying infrastructure.I will prefer to have my industry in an enabling environment where i can get access to my raw material at a cheaper rate through seaport. Togo doesnt have oil or gas they survive on importation to enable industries an access to their imported raw materials. U dont know aw economy work. Like what Sheik of UAE said Lets Build it first and they will surely come. What are we building? So u think Nigeria population is an asset to the industry, population dat 70% is surviving on less than a dollar per day. I rather go 4 20people with money than 10,000 with nothing.
Re: Border Closure: 98 Firms Relocate, Others Lose Millions by Afamed: 4:27pm On Oct 30, 2019
FarahAideed:


You and I know that firms are closing daily and this border closure has nothing to offer Nigeria but suffering .. your man has not added a single MW to the grid yet he claims he is embarking on protectionism , where are the industries he is protecting please ?
Yet you failed to mention the company names for the second time. I am not half baked like you

1 Like

Re: Border Closure: 98 Firms Relocate, Others Lose Millions by Afamed: 4:29pm On Oct 30, 2019
americaninja1:
Dunlop Nigeria Plc and Michelin had relocated to Ghana. Patterson Zochonis (PZ) is also planning to relocate to Ghana, even as Cadbury Nigeria Plc, Unilever and the International Institute of Tropical Agriculture (IITA) this year, sacked sizeable number of their workers over reported high cost of production, decaying infrastructure.I will prefer to have my industry in an enabling environment where i can get access to my raw material at a cheaper rate through seaport. Togo doesnt have oil or gas they survive on importation to enable industries an access to their imported raw materials. U dont know aw economy work. Like what Sheik of UAE said Lets Build it first and they will surely come. What are we building?

Did Dunlop relocate to Ghana during APC regime or PDP regime?

1 Like 1 Share

Re: Border Closure: 98 Firms Relocate, Others Lose Millions by FarahAideed: 4:30pm On Oct 30, 2019
Afamed:

Yet you failed to mention the company names for the second time. I am not half baked like you

The ONUS lies on you Buharist to prove no firms left not me .
Re: Border Closure: 98 Firms Relocate, Others Lose Millions by aribs(m): 4:30pm On Oct 30, 2019
Yeah right ! 98 phantom good -for -nothing companies (if they actually existed) which were set up to trade in smuggled goods? Nigeria does not need these types of businesses. We need businesses that would invest in growing the production base , not leeching off it

2 Likes 1 Share

Re: Border Closure: 98 Firms Relocate, Others Lose Millions by Afamed: 4:32pm On Oct 30, 2019
FarahAideed:


The ONUS lies on you Buharist to prove no firms left not me .
You are also a gay.
Onus lies on you to prove to us that you are not a gay.

2 Likes 1 Share

Re: Border Closure: 98 Firms Relocate, Others Lose Millions by americaninja1: 4:32pm On Oct 30, 2019
Afamed:

Did Dunlop relocate to Ghana during APC regime or PDP regime?
Aint talking about party or politics here , we talking about economics. Industries can move anytime any day if the environment is not favoring them.
Re: Border Closure: 98 Firms Relocate, Others Lose Millions by nokatakata: 4:33pm On Oct 30, 2019
lol 98 audio firms.... why can't they import their products legally? Una never start

1 Like 1 Share

Re: Border Closure: 98 Firms Relocate, Others Lose Millions by FarahAideed: 4:35pm On Oct 30, 2019
Afamed:

You are also a gay.
Onus lies on you to prove to us that you are not a gay.


?? What's going on here ?
Re: Border Closure: 98 Firms Relocate, Others Lose Millions by Afamed: 4:35pm On Oct 30, 2019
americaninja1:
Aint talking about party or politics here , we talking about economy. Industries can move anytime any day if the environment is not favoring them.


Below is a list of some of the big companies/organisations that folded up between 1999 and 2015 when PDP was in charge:

Osogbo Steel Rolling Company
NITEL
Nigerian Airways
NICOMTEX
Kaduna Textile Mill Ltd
Peugeot Assembly Plant
Leyland Motors
Nigerian Shipping Company
Bacita Sugar Company
Union Dicon
Michelin
Dunlop
Nigerchin
Jebba Paper Mill
Iwopin Paper Mill
Anamco
Volkswagen

No one knows the number of smaller companies that went under and the number of big ones that would have been added to this inglorious list if they had continue especially whrn oil price fell as low as $29 per barrel.
Can you forward the list of those that closed during PMB regime 2015 till date?

1 Like 1 Share

Re: Border Closure: 98 Firms Relocate, Others Lose Millions by NovusHomo(m): 4:36pm On Oct 30, 2019
niyisky:
You people will just sit in a corner and fabricate lies, just to discredit the government. Hate! I guess...98 firms without names, industry sectors etc...is easy to just relocate a business like that?

Haters, I hail una!

Let them go! If the only business they engage in is selling SMUGGLED GOODS, I say LET THEM GO!.They don't belong in this country.
Re: Border Closure: 98 Firms Relocate, Others Lose Millions by Afamed: 4:36pm On Oct 30, 2019
FarahAideed:



?? What's going on here ?
Hypocrite, you are asking me?
Re: Border Closure: 98 Firms Relocate, Others Lose Millions by kema01(m): 4:38pm On Oct 30, 2019
Big lie from d botoom of HELL. another Fake news... Where are dey lolocating to when d market for their finished goods is in Nigeria. What are their names (firms).
Re: Border Closure: 98 Firms Relocate, Others Lose Millions by AkpaAmu99: 4:40pm On Oct 30, 2019
[s]
helinues:


I get am before no be property.. I am not underrating your efforts oo.. But stop exaggerating things..

Keep things low and watch out for the outcome... We are not doing bad in life... Still a learner though

All the best
[/s]
Re: Border Closure: 98 Firms Relocate, Others Lose Millions by voltron14: 4:41pm On Oct 30, 2019
FarahAideed:


You and I know that firms are closing daily and this border closure has nothing to offer Nigeria but suffering .. your man has not added a single MW to the grid yet he claims he is embarking on protectionism , where are the industries he is protecting please ?

Why did you run away from the thread where I proved Jonathan disbursed 100 billion Naira to herdsmen?

1 Like

Re: Border Closure: 98 Firms Relocate, Others Lose Millions by Olaa: 4:44pm On Oct 30, 2019
Na so e easy to relocate a company?

Ee de rora Maa paro grin. So within 2-3 months you can relocate your business? Chai shocked


Empredboy:
LAGOS – As the impact of the closure of Nigerian land borders continues to bite, more than 98 firms operating in the country have relocated to other countries in West Africa in the past three weeks, while others have lost millions of naira and are near collapse.

Comrade Saviour Iche, the national president of the Association of Micro-Entrepreneurs of Nigeria (AMEN), made the disclosure while speaking at a press conference in Lagos at the weekend.

He stated the said the companies moved to other countries because of the negative impact the border closure was having on their businesses, adding that many others will follow suit if the situation persist.

He said that operating environment in other countries in west Africa are better, adding that governments of other countries offer incentives and support to entrepreneurs.

He said the closure of the borders has had some positive effect like increased revenue for the government, but argued that the negative impact was greater on the general economy.

According to him, there are many Nigerian businesses that export their goods and services across Nigerian borders, adding that most of these companies are losing millions of naira on a daily basis.

Iche disclosed that many of them have reduced their operations and their number of workers, adding that if the situation continues, many of them will close shop soon.

https://www.independent.ng/border-closure-98-firms-relocate-others-lose-millions/?fbclid=IwAR3mTW7Mb8pnzStjx9YU89kEBHEV2CR3fgq6YYyJ63tv7aD2i6WBCH75e7A

1 Like 1 Share

Re: Border Closure: 98 Firms Relocate, Others Lose Millions by vaxx: 4:45pm On Oct 30, 2019
isthatso:


No, China locked it's border for years which forced the Chinese to look inward and develop its own industries. The problem with Nigeria is we dont like short term pain for long term reward.


Any nation with a huge population that wants to truly grow must first develop and give advantage to it's own industries before allowing foreign competition.


When a country like Vietnam is lobbying to open our borders, it tells you how much of their economy and jobs is tied in producing rice for Nigeria. We no get farmers, we no get land?
You people mention China to defend the closure of the border as if China and Nigeria are having the same economic fundamental model or all economic principle are equal in both nation. China was never poorly industrialized like Nigeria, it has history that is over 1000 years old as an empire, only India and Persia has the same historical advantage. China alongside India was once the economy power house of the world and China again is on the track to repeat history again.


When China closes his economy , over 52 billion dollar remittance of Chinese citizens working abroad are flowing in to the economy and this is was the cash used in developing the industrial sector of China. how much those Nigerians working abroad make? when/ where can Nigerians outsource money for his development without working and dealing with other country?
Re: Border Closure: 98 Firms Relocate, Others Lose Millions by AkpaAmu99: 4:45pm On Oct 30, 2019
[s]
helinues:


Cant you guys make your comments in peace without mentioning person? Se we don dey pursue Una for Una dreams Ni..

Na war o
[/s]
Re: Border Closure: 98 Firms Relocate, Others Lose Millions by AkpaAmu99: 4:46pm On Oct 30, 2019
[s]
helinues:


But why should you be worried about Nigeria problems when you are not affected.

When you are saying the truth, you do not have to struggle to remember your own words.

You are just dishing different lies daily on NL

Fake you
[/s]
Re: Border Closure: 98 Firms Relocate, Others Lose Millions by swuftz: 4:48pm On Oct 30, 2019
niyisky:
You people will just sit in a corner and fabricate lies, just to discredit the government. Hate! I guess...98 firms without names, industry sectors etc...is easy to just relocate a business like that?

Haters, I hail una!

But you should have guess from the name of the leader. All the firms are located in the Far Eastern region of the Risen Sun. No need to list them.

1 Like 1 Share

Re: Border Closure: 98 Firms Relocate, Others Lose Millions by NGpatriot: 4:49pm On Oct 30, 2019
FarahAideed:


You will relocate this year in Jesus Name


I can not leave Nigeria because I love my country and I'm not a bitter and Nigeria hating ipob like you.

Abeg leave.

1 Like 1 Share

Re: Border Closure: 98 Firms Relocate, Others Lose Millions by Nobody: 4:49pm On Oct 30, 2019
Melonny:

I usually don't do this, but let me say this - Have you heard of companies having objectives, making strategies to achieve their objectives? There is a thing called Porter 5 forces, SWOT analysis, etc.. that would guide management decisions when making these strategies. If a company faces external threats from the government, they don't shut down their companies, rather they look for ways to turn that threat into an opportunity.. Keep in mind that these companies have access to a large market (opportunity).
These companies can partner with local farmers to plant rice (Turning threat to opportunity)

Companies leaving Nigeria due to border closure are the smugglers.

Smiles... Porter 5 forces Have you managed a business before? Which large market opportunity are you talkiing about with loss on transit? Goods being bought and becoming useless at origin? Keep it up
Re: Border Closure: 98 Firms Relocate, Others Lose Millions by Jimi24: 4:58pm On Oct 30, 2019
Wallade:
I honestly think CBN gave government-backed loans to rice farmers and suddenly, farmers must have been defaulting on repayment and they realised there is a significant possibility of huge bad loans.

Farmers excuse must have been that Nigerians don't buy local rice and CBN plus govt must have gambled with the idea of closing the boarders to create artificial scarcity of rice and super profit for rice farmers to enable them to repay the non performing loans.

This is an assumption; you are on your own if you believe it.

Its not just a thought. It is fact. Anchor Borrower Program loan defaults are high. The higher prices will push more educated people and financially literate people unto rice farming.
Aside from this, with high rice prices, people will partially shift to substitutes like yams, millet and cassava products. Those substitutes' prices will go up.and more people will invest in farming and its value chain.
This border closure will transform Nigerian economy. The people that will lose are the people that gained during PDP - lazy, city dwelling, middle class office workers. Unless they invest in.agro allied sector through crowd funding or direct participation
Re: Border Closure: 98 Firms Relocate, Others Lose Millions by tegrianonigltd(m): 4:59pm On Oct 30, 2019
niyisky:
You people will just sit in a corner and fabricate lies, just to discredit the government. Hate! I guess...98 firms without names, industry sectors etc...is easy to just relocate a business like that?

Haters, I hail una!

Other neighboring countries have 24hours light, na them still let Nigeria no get
Re: Border Closure: 98 Firms Relocate, Others Lose Millions by adenigga(m): 5:01pm On Oct 30, 2019
chriskosherbal:
Can we please know the names of the firms and what they are producing as this will go a long way in getting a good understanding of the issue at hand.

My Brother, don't be surprised that those 98 firms he was referring to might be a big time receivers of smuggled rice, poultry & vegetable oil.
So, border closure will surely hit them.
Re: Border Closure: 98 Firms Relocate, Others Lose Millions by AkpaAmu99: 5:01pm On Oct 30, 2019
[s]
helinues:


Shatap.. You can lie for the world.. You have told us so many contradicted stories even though nobody asked you any questions..

See, here is called NL.. Go to newspapers stands and give them zobo.. If you, fara bla bla is a million richer, I swear you can never tolerate the way almost everybody is talking to you anyhow online.

If you are a million richer, your comments and arguments wont be that shallow by blaming Buhari even when not necessary.

If you are a million richer, your personal life wont be exposed easily on social media cos of security measures.

You are just a fake guy dishing different lies about your personal life same way you have been dishing lies about the presidency.

You are a fake man.
[/s]
Re: Border Closure: 98 Firms Relocate, Others Lose Millions by Dagrace01(m): 5:07pm On Oct 30, 2019
So the consumers followed them too abi? You think we are fools, the market is here and any company that leave, leaves at their own peril
Re: Border Closure: 98 Firms Relocate, Others Lose Millions by TommyAnthem(m): 5:11pm On Oct 30, 2019
Relocating from a very large market to a small one, is there any economic sence in that? you are just writing rubbish. F.Y.I, I am not an APC member but I am in total support of the economic policy of the government over the closure of our land borders.
I ATE LOCAL RICE TODAY, VERY DELICIOUS!

1 Like

(1) (2) (3) (4) (5) (6) (7) (8) (Reply)

Femi Gbajabiamila: Why I Did Not Collect Certificate Of Return / Drop Your Message of Commendation For President GEJ Here.. / DSS Drops Charges Against Nnamdi Kanu In Magistrate Court

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 73
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.