They caused there own misfortune... But innocent workers would be the ones to suffer

Government is to make policies that will help solidify production and marketability of local products.
They should look critically into the issue and find a way out.
Increasing unemployment is a dangerous trend .

nwakibie3:

J.F.C..... Aaah

I thought they said Tinubu is the owner of Orientals

So soon they won't be enamel bus stop at onitsha owerri rd

Can you see why govt preach entrepreneurship in Nig? They kill great companies and refuse to establish new ones. They keep the CBN and oil jobs for the elites and Npower and soap and chin-chin making entrepreneurship for the poor. ‎

Imagine if we have 15 functional refineries, 20 functional steel plants like Ajaokuta steel etc, unemployment would not be heard in Nig.

Imagine if we have modern cattle ranches handled by our agric graduates as a result of government's help.

I pray the prophecy of the coming recession will not come to pass. ‎

Bet9ja4032:
See below

Be deceiving yourself there. Nobody can fall for ur $hitty scam.Get a life!

This news is actually old..

Wempco is on it's way to restarting production.

There are so many ways to tackle this issue. Let WEMCO look inwards on how to combat the imported goods. It's either they are exploiting Nigerians or their product is substandard. You don't know if they trying to create an unusual environment to exploit govt. Trust Indians at your peril, if you allow them this opportunity be ready for a surprise. Nigeria is our only country, for those of you shouting next level, politics is gone. Let us rebuild. I wish us well.

I thought Tinubu owned Orientals hotel, meanwhile the management of the firm have themselves to blame for abusing their privileges, importing instead of manufacturing locally, the government also share in the blame, Nigerian borders are too porous, it's high time we give our neighboring countries the Trump treatment, they batter aid in stopping smuggled goods or we close our borders.

Mad people they gave sole right to one company killing competition. Also why will SON be regulating nonsense opening the room for cheaper products flooding the market. SON is the biggest Killer of business in Nigeria

Why didn't they produce when they were given waivers instead they chose to import heavily and made many fraudulently.
Now they are crying wolf. This is no fault of government at all. Now they are being forced to do the right thing,they want to blackmail the government

I thought they said Tinubu owns that hotel and was selling because he is broke. So its Chinese people that own the Oriental Hotel?

Chukazu:
Nigeria custom steals billions every single days, the ones they can't steal they declare as revenue remittance at the expense of hard suffering NIGERIAN businesses and can't even secure our Boarders

What is annoying most is that Buhari's second four years tenure has not even started, Nigerians are already feeling the mess in arrears.... next level mumu!

I dey tell you

For Trending Ankara styles, Aso ebi, Weddibg dress and other fashion news, kindly visit cuteluks.com

Shameless black man. Shameless black nations. Always producing shit holes.

socialmediaman:
Next level is real! You didn’t need a prophet to see this coming. If you voted Buhari hoping he’ll do anything meaningful in his second term, sorry!

You didn't read the story or decided to ignore the part where it said the company abused the waivers granted it, instead of producing sheets locally and developing local capacity in that regard they instead imported heavily and the voodoo economics of pdp era allowed that to go on .... If they had developed local capacity they will not be affected by forex because they will not need it and rather export and make forex for Nigeria.

Anyone who don't want to see any difference in pmb second term are free to go elsewhere

OlujobaSamuel:
Hmmmmmmm, If the report is true according to disclosed facts, then the 250k job loss is more of a blackmail than reality.
For those that will quote without reading;
1 the company was given a waiver as sole manufacturer with access to fx
2 they found importation cheaper and used the free fx access to import then stopped manufacturing
3 fg discovered and cancelled the waiver
4 buyers see no sense in buying from middle men as the company is now one, so they import directly
NB
No 250k job loss as most are already into the importation

A simple economic reasoning will inform you that there are thousands of employees in this organization. 2. That the company preferred importation to local production speaks volumes of the economic environment. 3. That customers have their monies trapped in the banks tells of innocent people cut by the enemy fire and economically incapacitated.4. That smuggled goods are forcing out local products is nothing but transmission of employment from Nigeria to foreign lands. You should also go to the gigantic factory structures of this organization in mowe to evaluate the site that is presently being overgrown by weeds.

i came across this book on appstore. its titled 1000 practical business idea and directory of money sources. i think it will be of help to people who needs jobs or side hustle


here is the link
https://play.google.com/store/apps/details?id=com.sunkanmivaughan.bizdir

I'm chilling with a bottle of beer. I can not come and kee masef for this change wey dey enter next level.

Bar man! Giv me one more botul

You are confirmation that lack of comprehension & objective biased mindset is a growing problem for a country like Nigeria.

socialmediaman:
Next level is real! You didn’t need a prophet to see this coming. If you voted Buhari hoping he’ll do anything meaningful in his second term, sorry!

The clarity of the real ownership of the hotel just hit home?

delerx:
I thought they said Tinubu is the owner of Orientals

I came across this book on appstore it is titled 1000 practical business ideas and directory of money sources. I think it will be of help to people who dont have a job and probably a side hustle.
Here is the link
https://play.google.com/store/apps/details?id=com.sunkanmivaughan.bizdir

Nawaooo 9ja . why na

Education.... Scam
Politic...........scam
Pastor's........scam
President...... Scam
Police..........scam
NEPA. .........scam
Alpha's .......scam
9ja league.... Scam
All bloggers.... Scam
Nairaland_______

chinedu234:

A simple economic reasoning will inform you that there are thousands of employees in this organization. 2. That the company preferred importation to local production speaks volumes of the economic environment. 3. That customers have their monies trapped in the banks tells of innocent people cut by the enemy fire and economically incapacitated.4. That smuggled goods are forcing out local products is nothing but transmission of employment from Nigeria to foreign lands. You should also go to the gigantic factory structures of this organization in mowe to evaluate the site that is presently being overgrown by weeds.

The 250k are not direct labour/employees of the firm, it comprises of their customers (other companies) also, these others companies stopped buying from them because they see it as better alternative.
The company internal policies affected them not the govt.
No need to import facts and assumptions unknown, treat the stated facts in the report as it is.
We all know we have unfavorable economic environment in Nigeria, but if you choose to endure and get govt support, pls stick to the terms, why use scarce fx you got for production to start importing in an industry you have sole monopolistic right?

When all these firms are chopping money they won't publicise it. But any small gbege them go they cry make the whole world hear.