phantonce:

I dn beg na.

phantonce:
I've never for once like importation as I believe it is a cheap means of getting out of poverty and is meant for lazy people.
Am a manufacturer and I also like consuming locally made product.
Even though manufacturing in nigeria is strenuous,the joy of having what is yours supercedes everything and not to talk about the gain which is massive.

macklef:
Mehn am fecking tired of this country.
My ogas in the house, mastercee, ymodulus, mayorall, kennyman20 and all.
I can remember that artist name but i remember that chorus. It was like this,
''Shey na like this wr go dey dey, na like this we go dey dey?"
I think i shot myself with my last deal, for the first time, i feel like returning my clients money.
I know we all are feeling the heat of this year end economic crises but mehn is there any way to mitigate it?
I collected a deal based on my calculation of 8usd/kg+ 480 normal charge, only for me to get an alert that
Shipping charges are up, i bused kennyman20, bro with his inspirational words told me to just bear the hike n leave my client outa it. I obliged cos i knew it was a thoughtful course.
Guys, dollar was 177 on the said date, now the useless naira has gone up to 183.
With their stupid 100,000 cash limit policy on atms i have to withdraw 3rice. Within this time
I was to remit over 15000rmb, only to be told 1yaun is now 30naira. Over 20k is lost to exchange rate.
Abeg which way forward na. Must i bear this one too because am a good boy? Guys please, advice me.
Some of the money has already been sent n sellers been part payed but how do i offset thus over 20k deficit.
What kinda stupid country is this?
Amefrica, can i come n share room with u there? I wanna school in canada too, i dont mind d cold abeg.

mayorall:




You manufactured the phone/laptop you are typing with?.


Dem say importation nah for lazy people o.

cc : youngzedd maclef Desanchez1 daiv8d ymodulus kennyman20 initialize thespeciaone mcfynest 9free aminu20 additiv bashorundon surveycash toluxa1 bajugbajug tranxo Tyconcepts Eghosa1 tweentums tokpeh stevolinkon40 Mizmycoli texaco1 and other lazy people I didn't mention.

mayorall:
Yoruba market women will say "nkan ti aba ra lata". You sell what you buy. You purchase at high cost, you sell at higher cost. Exchange rate is a big excuse padi mi.

Amefrica:


Oh man! It's really sad seeing our NGN devaluing at a fast rate.

Of course, you can come share room once you assure me you ain't a g*y haha. Just ready to get kicked in the a'ss by the cold.

fr3do:


You go start from somewhere na, you guys though are satisfying Nigerians, but you are killing the economy, this will dissatisfy Nigerians on the long run.
Start importing capital goods that will be used for production, if you play your cards well you will make bigger amounts of money, employ Nigerians and help the economy. You can also start exporting.

Cwaya:

Nna, You be biz man ooo, shuuu !!

Anyway, u have to look for a way not to fall in to that deficit whatever.

Think outside naija box

GoodLuck

btw Amefrica, our guy cant fit be g**y, Allow him.... is an opportunity for him to get that his oyinbo babe wey he dey find

DRealGeesam:

Importation does not look as good as it used to be anymore.
Still on top the road stud matter here o.

Thespecialone:
lol let me encourage you small. I did a deal and calculated based on $1/N172. Well, as at the time I started paying, it was $1/N183.
Returning to my clients to ask for extra money was not an option so I had to pay the deficit. As a business man, always have the "rainy day" fund for days like this. Going forward, I have stopped collecting payment in naira from certain categories of clients. It's dollar receipts only and they are happy too so I have effectively shielded myself from the impact of the rising naira rate. Everyone in my supply chain accepts dollars even down to my shippers so it's win win for all of us. It's one of those expensive lessons we have to learn.

macklef:


Hmmmm, ive never really thought of the dollar ish, u have a dollar account then, thats if u dont meet physically with ur clients, how do u deal with that?

fr3do:


You go start from somewhere na, you guys though are satisfying Nigerians, but you are killing the economy, this will dissatisfy Nigerians on the long run.
Start importing capital goods that will be used for production, if you play your cards well you will make bigger amounts of money, employ Nigerians and help the economy. You can also start exporting.

Thespecialone:
You just have to be creative in times like this and think outside the box.

In every problem, lies the solution. Personally, I shielded myself via the following means, accept dollars, where it's not possible bench mark the dollar against prevailing naira rate and negotiate with your supplier for lower cost.

The hard cold truth is that for the time being, there's going to be a rise in cost of goods except you want to subsidise it for your clients and due to this crunch, the average person's purchasing power will reduce and people will be forced to focus on certain essentials but then it all depends on the category of clients you deal with.

mayorall:




Well said. But will you provide the capital for that?. How much will you loan us. I will organise the group.

macklef:


Thanks much. Actually apart from some anoying shipping contigencies. This my first battle with d naira, i

guess as u said it just really need to formulate some modus operandis to hedge against this failings. Thanks.

Thespecialone:



Le Chatelier's principle states that if an external constraint such as change in temperature, pressure and concentration is imposed on a chemical system in equilibrium, the equilibrium position will shift so as to annul or neutralize the constraint.

I strongly believe this principle can apply to economics. It largely depends on the individuals concerned.

Thespecialone:



Le Chatelier's principle states that if an external constraint such as change in temperature, pressure and concentration is imposed on a chemical system in equilibrium, the equilibrium position will shift so as to annul or neutralize the constraint.

I strongly believe this principle can apply to economics. It largely depends on the individuals concerned.

macklef:


Lol. I aiint gaaay jareh, am so straight all the rulers in Niger are beefing me, thats y dey using exchange rate to
Try tio bend me

phantonce:


Very funny.

My Oga,I hail o o
Manufacturing of phone isn't rocket science has the the schematic diagram is readily available online that a computer engineering undergraduate could easily manufacture/assemble himself.

The raw material may not be easily available as they are all produced in china.

phantonce:


Very funny.

My Oga,I hail o o
Manufacturing of phone isn't rocket science has the the schematic diagram is readily available online that a computer engineering undergraduate could easily manufacture/assemble himself.

The raw material may not be easily available as they are all produced in china.

phantonce:


Very funny.

My Oga,I hail o o
Manufacturing of phone isn't rocket science has the the schematic diagram is readily available online that a computer engineering undergraduate could easily manufacture/assemble himself.

The raw material may not be easily available as they are all produced in china.

Eghosa1:



All these our genius Bini Men! *prostrates*

mayorall:




You manufactured the phone/laptop you are typing with?.


Dem say importation nah for lazy people o.

cc : youngzedd maclef Desanchez1 daiv8d ymodulus kennyman20 initialize thespeciaone mcfynest 9free aminu20 additiv bashorundon surveycash toluxa1 bajugbajug tranxo Tyconcepts Eghosa1 tweentums tokpeh stevolinkon40 Mizmycoli texaco1 and other lazy people I didn't mention.

phantonce:
You guys should take it easy on me.
Maybe calling you lazy was too much cos no job is easy.
I am sorry.
let everybody stick to his thing.
I would open a thread someday in the nearest future about manufacturing and how and where to get components locally and international.

Thespecialone:


1. We are not lazy people. My fellow importers will agree with me that importation is HARD work. The kind of things we have achieved are not common place. We have helped create jobs directly and indirectly. The average importer is most likely awake when you are busy snoring because of research and other things that need to be done.

You think it's easy to source for products, get reliable sellers, pay, import and eventually deliver to the end user and still turn a profit?

2. You sound as though importation is a bad thing, no country is 100% self sustaining so is it a crime that we saw a need a decided to meet that need through our various businesses?

3. I really take exception to the fact that according to you, importation is a cheap way of getting out of poverty. This is an insult to hard working young men and women who was created jobs for themselves.

4. There is no Country that doesn't import and some Countries have better economies of scale than others. So is it our fault that Nigeria doesn't have good economies of scale?

5. If you were not among those who skipped classes in secondary school, I'm sure you would have learnt something called balance of trade in economics.

6. If you don't like importation as you claim please ensure that every product you use is strictly made in Nigeria.

7. Most of us started with zero and insome cases very little capital and have grown very big and you say we are lazy? If a thread was to be opened for importers to share their inspiring testimonies, you will be amazed at the feat they have achieved.

8. Young innovative people like ymodulus and the others in the importers hall of fame have come with ideas that has changed the financial outlook of many young Nigerians, what have you contributed? Zero!!!
May God forgive you.

dasanchez1:
I have miss unselfish post like this

Nivlin:

Team #indeed

maybrowne:
Don't mind that guy jor, even Nigeria that's africa's largest producer of crude oil, export their crude oil to import petroleum, they can't refine it on their own and you come here to lash tongue on those who have found a way to better their lives, improve their standard nd are even teaching it to others. Show me a made in nigeria phone and i will throw away my smartphone right now, even america sef doesn't manufacture phones, dem dey import. You said you are a manufacturer, please what are u manufacturing maybe i can order from you. Lol