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Nairaland Forum / Nairaland / General / Politics / 19 Firms Shut, 250,000 Jobs Threatened By WEMPCO Crisis (23278 Views)
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Re: 19 Firms Shut, 250,000 Jobs Threatened By WEMPCO Crisis by Kinikini: 8:59pm On May 03, 2019 |
Wished you did not display bias on the Wempco issue for politics. If you read to the end, you will see that mismanagement is responsible for the failure. From the era of GEJ, the govt gave the coy import waiver to help it survive but was abused. The current govt revoked the waiver but place cold roll steel on list of item not eligible to cbn forex. These measures did not suffice because the coy already incurred huge debt and was not meeting its obligations to customers. Don't always blame your govt. Some of these foreign coys especially Lebanese owned at times pull out their capital, take loans from Nigerian banks to run the business and just crashed the business since they loose nothing. . uote author=socialmediaman post=78079482] 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![/quote] 5 Likes |
Re: 19 Firms Shut, 250,000 Jobs Threatened By WEMPCO Crisis by LofP(m): 9:00pm On May 03, 2019 |
It doesn't absolve the company from blame, why were they not producing when we desperately need the development of local products in Nigeria? They have dug their own graves. This is economic sabotage by the leadership of the company. 1 Like |
Re: 19 Firms Shut, 250,000 Jobs Threatened By WEMPCO Crisis by Bluffly: 9:12pm On May 03, 2019 |
Customs should be held responsible for this. WEMCO was also an architect of their own downfall. Unfortunately, these bastards might have repatriated most of their monies assisted by our idiotic and crony banks. You have waiver series of soft landing from our government and yet took us as fools. 1 Like |
Re: 19 Firms Shut, 250,000 Jobs Threatened By WEMPCO Crisis by BoBLEGACY16: 9:12pm On May 03, 2019 |
OlujobaSamuel:Your analysis was fair enough Despite they abused the waiver by government to earn extraordinary profit, they still accumulate so much debts Should government now intervene to PAY debts because I don't know where government has blame now. Some business models in private in this country are very bad and anti-develpment 1 Like |
Re: 19 Firms Shut, 250,000 Jobs Threatened By WEMPCO Crisis by Bluffly: 9:14pm On May 03, 2019 |
Banks giving foreigners loan at the detriment of the citizens |
Re: 19 Firms Shut, 250,000 Jobs Threatened By WEMPCO Crisis by Shikini: 9:19pm On May 03, 2019 |
socialmediaman: Aswear |
Re: 19 Firms Shut, 250,000 Jobs Threatened By WEMPCO Crisis by chloride6: 9:47pm On May 03, 2019 |
Kinikini: You are the only one for understands... Asians businesses are structured such that they can leave anyday with a suitcase.. 1 Like |
Re: 19 Firms Shut, 250,000 Jobs Threatened By WEMPCO Crisis by richiepolymer(m): 9:49pm On May 03, 2019 |
I owe you one chilled bottle of whatever you drink. You truly understand how these guys operate. OlujobaSamuel: 1 Like |
Re: 19 Firms Shut, 250,000 Jobs Threatened By WEMPCO Crisis by Nobody: 10:03pm On May 03, 2019 |
OlujobaSamuel:many of them can't even read.. All they wanna see is 250k jobs lost. They are irrelevant and explaining things to them is more like a waste of time and energy bro. Next time don't bother yourself. Peace. 1 Like |
Re: 19 Firms Shut, 250,000 Jobs Threatened By WEMPCO Crisis by MyGeneration(m): 10:08pm On May 03, 2019 |
There's no firm in Nigeria outside government that employs up to 150k people. I can say it anywhere |
Re: 19 Firms Shut, 250,000 Jobs Threatened By WEMPCO Crisis by grandstar(m): 10:41pm On May 03, 2019 |
The country truly needs to liberalise trade as it was protectionism that killed this company Protectionism simply protects industries the country sucks at which makes no sense. You only excel in what you're good at and there's where your resources are best channeled 3 Likes 1 Share |
Re: 19 Firms Shut, 250,000 Jobs Threatened By WEMPCO Crisis by greggng: 10:47pm On May 03, 2019 |
The worst place to work is wempco. I nearly lost my hand while working at their corrugated iron sheet dept ...where zinc is produce. They Chinese have no respect for human dignity...they even sacked our union Secretary for fighting for the workers while some of their Nigerian friends aided the move...I don't care if the close or not ....workers their are worst than slaves 2 Likes |
Re: 19 Firms Shut, 250,000 Jobs Threatened By WEMPCO Crisis by Primebuilders(m): 11:04pm On May 03, 2019 |
OlujobaSamuel: Nonsense analysis. What of the 19 firms that are shutting down. What where they affiliated with. With importation. |
Re: 19 Firms Shut, 250,000 Jobs Threatened By WEMPCO Crisis by Mitchellina123: 11:24pm On May 03, 2019 |
Ewoooo, some graduates haven't been employed BC for years, and 250,000 people set to join agakn |
Re: 19 Firms Shut, 250,000 Jobs Threatened By WEMPCO Crisis by cooltola(m): 1:17am On May 04, 2019 |
It is very hard for business to stay afloat in Nigeria. Many Foreign countries avoid us like how people avoid flies Where electricity is scare, how do you expect a business to make a profit or stay afloat. Do not expect improvement and generators are not answer |
Re: 19 Firms Shut, 250,000 Jobs Threatened By WEMPCO Crisis by Mace0lane: 2:26am On May 04, 2019 |
Mumu so an importation biz claiming local producer should be allowed to continue fleecing the country vis countless waivers running into billions with commensurate benefit to the economy ? Buyers are already bypassing it to import the product so it’s dead will be of little effect on the economy. socialmediaman: 1 Like |
Re: 19 Firms Shut, 250,000 Jobs Threatened By WEMPCO Crisis by socialmediaman: 2:54am On May 04, 2019 |
Mace0lane: So you get boldness to be explaining why the poverty capital of the world is getting worse? Aren’t you supposed to be hiding your face in shame? |
Re: 19 Firms Shut, 250,000 Jobs Threatened By WEMPCO Crisis by socialmediaman: 2:54am On May 04, 2019 |
Mace0lane: So you get boldness to be explaining why the poverty capital of the world is getting worse? Aren’t you supposed to be hiding your face in shame? |
Re: 19 Firms Shut, 250,000 Jobs Threatened By WEMPCO Crisis by socialmediaman: 2:56am On May 04, 2019 |
chloride6: So we should clap for Buhari when they leave? |
Re: 19 Firms Shut, 250,000 Jobs Threatened By WEMPCO Crisis by socialmediaman: 2:57am On May 04, 2019 |
gabng: You’re trying to make sense of how the poverty capital of the world is getting worse with more job losses? |
Re: 19 Firms Shut, 250,000 Jobs Threatened By WEMPCO Crisis by socialmediaman: 3:02am On May 04, 2019 |
Rolings: A witch cries at night and a baby dies in the morning, who killed the baby? Buhari made Nigeria the poverty capital of the world, and thousands of people lost jobs, who should take responsibility? |
Re: 19 Firms Shut, 250,000 Jobs Threatened By WEMPCO Crisis by cvibe2: 3:38am On May 04, 2019 |
This only shows the firm was making money but taking out the funds out of the country and were not interested in producing anything in Nigeria. 1 Like |
Re: 19 Firms Shut, 250,000 Jobs Threatened By WEMPCO Crisis by Nobody: 4:27am On May 04, 2019 |
chloride6:Can you proof this |
Re: 19 Firms Shut, 250,000 Jobs Threatened By WEMPCO Crisis by Nobody: 4:36am On May 04, 2019 |
grandstar: That protectionism is what USA is doing now. |
Re: 19 Firms Shut, 250,000 Jobs Threatened By WEMPCO Crisis by banio: 5:18am On May 04, 2019 |
ezebunafo: Next thing, robbery will increase in your neighborhood. |
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