izzou:


120 staff will be sacked because of this. Why don't you go over there and tell them to be happy.?

Things are going wrong daily, and a lot of you keep asslicking the mediocre we call a president. When people speak against him, you either tag them Igbos or PDP or sadists

Don't worry. When his policies affect your workplace
you'll know how it feels not to have a source of income,.

Sorry. I forgot that your parents still feed you. You wouldn't understand. I apologize

izzou:


I have no problem with anyone voting Buhari because of tribal or religious reasons

But voting Buhari because of his policies and because you think he's the best amongst others candidates shows that you are either still eating your mother's food, or you don't have any sense left in you.

P&G have been in business here for more than 2 decades, and a new plant commissioned in 2017 is being put up for sale in 2018? Na wa

peeps4u:


https://www.premiumtimesng.com/news/headlines/274899-exclusive-pg-to-shut-down-300-million-nigeria-production-plant-one-year-after-launch.html?_e_pi_=7%2CPAGE_ID10%2C8855754542

izzou:


Their reason was the continuous rise in importation tariifs

If you decide to build a house, and you estimate a block to be at #200 in your feasibility study, and when you start, it rises to #180, and after a day or two, it rises to #195, and it less than a week, it's about #250.
Do you blame yourself or the factors affecting the rise?

Feasibility study is just feasible plans. It cannot determine the outcome entirely

oyegbe:
if they knew that getting up to even 50% of raw materials in Nigeria is difficult then they shouldn't have spent that money in setting up any factory in Nigeria. It's good to have a nice feasibility study before engaging in that type of business.

GavelSlam:
https://www.google.com/amp/s/amp.cincinnati.com/amp/543154002

Reporter could have done a better job showing P&G's present situation worldwide.

Organism000:


Yeah, my factory was shut down and I also shelve the idea of a larger one I had already completed drawings, site construction and surveys for. I have decided to focus on alternative investments that brings in less cashflow but which guarantees me a stable peace of mind. There is no point hiring an army of people without making much profits in the name of having a large business.

Nigeria has really deteriorated since Buhari took over. Import charges and taxation are just going up unpredictably.

Jethrolite:
I strongly advise you leave while you still can.

peeps4u:


Electricity dependent business will suffer in Nigeria. Nigeria is just frustrating


No sane manufacturing firm will ok invest 300 miiom dollars in a factory plant and not invest at least 1m dollars in a IPP to generate thier own power.

Even smaller factories around mowe ofada axis have thier own IPP!

This news is fake. I just confirmed that the factory is still operating.

I don't know where this news is coming from.

izzou:


I have no problem with anyone voting Buhari because of tribal or religious reasons

But voting Buhari because of his policies and because you think he's the best amongst others candidates shows that you are either still eating your mother's food, or you don't have any sense left in you.

P&G have been in business here for more than 2 decades, and a new plant commissioned in 2017 is being put up for sale in 2018? Na wa

Organism000:


We are watching the swings of the next election and if Buhari wins, I wont be stepping out of my home except it is absolutely necessary. But I am moving most of my siblings who are still single out of possible trouble spots and building new home for them at city center.

But my wife. No way, she is not stepping into the country no matter what. My side chic keeps me going for now.

babayinka77:

“Our competitors invested much less in their factory, can maneuver their way in the system, and thus produce and sell for much less. We cannot do that. Our investment in Agbara is arguably the largest single investment by a non-oil firm in Nigeria. But we just have to shut it. The loss is much,” the source said.
if you read the part quoted above , you will easily realize that they also did not do a proper market survey and analysis before investing such huge amount of money in pampers and diaper business. $300M is huge for such a product. Bad investment in a poorly managed economy.

Did it occur to you that they started building that plant before Buhari came in?

Did you read where they said about 276 industries had shut down as at 2016? So all of them invested badly?

NOETHNICITY:
If they did a nice feasibility study then why are they crying and closing down now?

You just want to blame it all on Buhari while failing to acknowledge the position of govt, which seeks to encourage more input of local contents. The company simply wants to be granted exclusive favor from govt. And govt cannot do that knowing there are other competing products like Moflix which is doing great.

Jethrolite:
Oga you sabi the thing. Personally, I believe sh!t will hit the fan big time next year. For now I just do brokerage and looking for a viable Internet business to set up. If it's even Kenya or Ghana, I will go there and sit. I believed in this country once and I'm paying dearly for it.

Sirjamo:
Can a Nation with dwindling revenue and weak reserves have a booming economy ? you can never give what you don't have.
If not for Buhari's prudent management, what do you think would have happened when oil prices dropped to it lowest in decades?
Ordinary elementary economics, you can not comprehend, but will be complaining about bad policies, if you are asked to enumerate the bad policies and suggest better ones, you will go numb', even the fake news you read up there says that the recession was due to the fall of oil prices, but of course, objectivity is not in your DNA.

IBBG:
the problem with this govt is that there is no deliberate plan to shield manufacturing industries to cushion the effects of this [b]recession [/b]and protect jobs. In advanced countries they take deliberate step to protect these huge industries because of the multiplier effects of unemployment in the economy. The govt of advanced countries are so scared of unemployment such that they will do literary any thing to prevent it. but here the reverse is the case.

majekdom2:
what recession really? This is 2018. Oil is selling above 75 dollars. Nations have recovered fro the slump in oil price. Nigeria is still talking recession. Will you stay in recession forever. The problem is you have dumb heads, who don't know what leadership is about. A nation of close to 200 million people, yet it seems like nothing works!

tolexy007:



have u seen the road that leads From Atan to lusada to Agbara? my brother if u see that road, u will ever blame urself for taken ur car there, is the worst road ever i ever seen. despite all the money the gov is collecting from those industries, the road is no go area at all

cyrielo:
This is entirely true, I understand better now. I'm actually facing a similar problem since the government decided to increase import duties on solar panels in spite of the epileptic power supply .

About 272 manufacturing plants wereshut down across the country in 2016,according to the Manufacturers Association of Nigeria.

izzou:


276 industries shut down in 2016 alone, courtesy of your Saviours prudent management

My former workplace is cutting salaries by 40% now because importation tarrifs for raw materials have increased. Keep cheering yourself, you hear.

Every single person who runs a business knows how difficult it is since Buhari started implementing fruitless policies

Like I advised you, go and preach Buhari's prudent management to the 120 staff. It will be soothing to them and their families this period

majekdom2:
This is bad news. I mentioned the other time the problem in Nigeria is not non- availability of skills but that there are no market to sell to or infrastructure to practice these skills once developed. Somebody quoted me and tagged me silly. This shut down will lead to jobloss and somebody somewhere will be preaching skills. Will skills stop these plant from shutting down? We have serious leadership problem in this country, until this is addressed. We will keep shouting we and wa. It's really unfortunate that an investment worth this amount will close down. But how have they been importing before now? Was there no feasibility study and due diligence before this project began. There is more to this.

Sirjamo:
If the useless pdp that you supported for 16 years had done it job well, would your company have to import any raw material? I ask you again, is it possible to continue importing everything as we use to, despite lower foreign currencies inflow? If businesses do not have enough forex to import raw materials, and they can't source locally, won't they have to close down?

I know you wouldn't disappoint. Once someone speaks against Buhari, he must be a PDP supporter.

A lot of you sit in front of your TV and phones and automatically believe everyone is wrong. I encourage you to go out. Move out and talk to people in business. Maybe you'll understand better.

You think industries wouldn't source locally, if it will maximize profit? You think everyone is enjoying the stress and high costs of importation? Do you know the challenges involved in producing here? No power, no roads, unnecessary taxes here and there and a lot more?

It's obvious you haven't done business before. I really don't have the strength to engage you in any argument.

Support Buhari all you like. Na you sabi. But just pray his policies doesn't affect you. Hardship no sabi who be PDP or APC

The people of Benue voted massively for him baa? Now, his nonchalant attitude towards security is paying off.

Have a nice day

izzou:


I know you wouldn't disappoint. Once someone speaks against Buhari, he must be a PDP supporter.

A lot of you sit in front of your TV and phones and automatically believe everyone is wrong. I encourage you to go out. Move out and talk to people in business. Maybe you'll understand better.

You think industries wouldn't source locally, if it will maximize profit? You think everyone is enjoying the stress and high costs of importation? Do you know the challenges involved in producing here? No power, no roads, unnecessary taxes here and there and a lot more?

It's obvious you haven't done business before. I really don't have the strength to engage you in any argument.

Support Buhari all you like. Na you sabi. But just pray his policies doesn't affect you. Hardship no sabi who be PDP or APC

The people of Benue voted massively for him baa? Now, his nonchalant attitude towards security is paying off.

Have a nice day

bodejohn:
I am not a fan of Buhari.

The collapse of P&G's business in Agbara has about 5% to do with government's policy. It was killed by the greed of the workers there...especially top management.

You don't expect them to say they are shutting down because there are multiple frauds or bad business decisions.

Sirjamo:
If the useless pdp that you supported for 16 years had done it job well, would your company have to import any raw material? I ask you again, is it possible to continue importing everything as we use to, despite lower foreign currencies inflow? If businesses do not have enough forex to import raw materials, and they can't source locally, won't they have to close down?