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Nairaland Forum / Nairaland / General / Politics / Nigerians Worried Over Fate Of Innoson As Hyundai Plans To Set Up Car Plant (5695 Views)
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Re: Nigerians Worried Over Fate Of Innoson As Hyundai Plans To Set Up Car Plant by Nobody: 7:58pm On Dec 18, 2019 |
RisenPhoenix:Innoson is indigenous to Nigeria, all assets in Nigeria, entire history in Nigeria, profits remains in Nigeria. Hyundai is Japanese, almost all its asset in Japan. No history of manufacturing in Nigeria. Likely to be trying repatriate profits to Japan 1 Like |
Re: Nigerians Worried Over Fate Of Innoson As Hyundai Plans To Set Up Car Plant by sapele914(m): 7:59pm On Dec 18, 2019 |
GenBuhari:Hyundai is South Korean. 2 Likes |
Re: Nigerians Worried Over Fate Of Innoson As Hyundai Plans To Set Up Car Plant by Nobody: 8:01pm On Dec 18, 2019 |
sapele914:OK, noted 1 Like |
Re: Nigerians Worried Over Fate Of Innoson As Hyundai Plans To Set Up Car Plant by DrKKK1(m): 8:38pm On Dec 18, 2019 |
The level of sentiments we bring into issues can never escalate development. For God sake, we are living in a globalized world. No one locks himself up and expect development. Competition brings out the best of products/services qualities at the cheapest price. This firm is coming to invest in the refineries and automobile industries. Why are you not worried about Dangote who is putting up all his life on constructing the largest refinery in Africa but you all gathered here pouring invectives because of innoson. It doesn't matter who produces any product whether it's Nigerian or not. What matters is that it should be produced in Nigeria because of the attendant spillover effects. Igbo people are enterprising but the level of victimimism they often exhibit is to say the least sickening. 3 Likes |
Re: Nigerians Worried Over Fate Of Innoson As Hyundai Plans To Set Up Car Plant by DrKKK1(m): 8:42pm On Dec 18, 2019 |
The level of sentiments we bring into issues can never escalate development. For God sake, we are living in a globalized world. No one locks himself up and expect development. Competition brings out the best of products/services qualities at the cheapest price. This firm is coming to invest in the refineries and automobile industries. Everyone is sentimental when it comes to qualify. Why are you not worried about Dangote who is putting up all his life on constructing the largest refinery in Africa but you all gathered here pouring invectives because of innoson. It doesn't matter who produces any product whether it's Nigerian or not. What matters is that it should be produced in Nigeria because of the attendant spillover effects. Igbo people are enterprising but the level of victimimism they often exhibit is to say the least sickening. 1 Like |
Re: Nigerians Worried Over Fate Of Innoson As Hyundai Plans To Set Up Car Plant by hammerU: 9:31pm On Dec 18, 2019 |
[s] DrKKK1:[/s] SHUT UP PLEASE... GO AND CHECK THE NAMES OF THE CONCERNED PARTY, THEY ARE ALL YOUR TRIBE MEN. AFONJA AND ABOKI 1 Like |
Re: Nigerians Worried Over Fate Of Innoson As Hyundai Plans To Set Up Car Plant by Nobody: 9:47pm On Dec 18, 2019 |
GenBuhari: Hyundai is South Korean, not Japanese. When Hyundai opens in Nigeria, its Nigerian branch assets will be in Nigeria and will probably exceed Innoson's assets book value. Both will pay equal proportion of taxes on their profits. Possibly a greater proportion of Innoson's profit would be reinvested in Nigeria, but that is not really predictable and is certainly not a great enough incentive to forego the much better quality Hyundai. Now if Innoson had made an effort to assemble Toyotas instead of BAICs, I would certainly have gone for Innoson, but I tend to be allergic to anything Chinese in principle. 2 Likes 1 Share |
Re: Nigerians Worried Over Fate Of Innoson As Hyundai Plans To Set Up Car Plant by Johans1991: 10:15pm On Dec 18, 2019 |
BuhariAdvocate:pls no mind the children of hate,they are sadist,victim mentality is in their blood. Even their governors are not patronizing the so called innocent motors.they are evil,they are full of hate,they believe everybody is against them. Yes! Buhari invited other car manufacturing company. So what? Do your worst 3 Likes 2 Shares |
Re: Nigerians Worried Over Fate Of Innoson As Hyundai Plans To Set Up Car Plant by obailala(m): 2:25am On Dec 19, 2019 |
There's a large market for cars in Nigeria; there's enough room for everyone to thrive. Besides, anything that boost the industrial / manufacturing sector in Nigeria is a welcome development. As long as the vehicles will be produced or assembled within Nigeria, that;s a positive. 2 Likes 1 Share |
Re: Nigerians Worried Over Fate Of Innoson As Hyundai Plans To Set Up Car Plant by obailala(m): 2:30am On Dec 19, 2019 |
edoairways:In this case, do you suggest we protect local industry by chasing away foreign investors? What exactly is this thread even about? 2 Likes 1 Share |
Re: Nigerians Worried Over Fate Of Innoson As Hyundai Plans To Set Up Car Plant by Cousin9999: 3:42am On Dec 19, 2019 |
Welcoming Asian parasites into the country is not the answer. |
Re: Nigerians Worried Over Fate Of Innoson As Hyundai Plans To Set Up Car Plant by Kingspin(m): 4:54am On Dec 19, 2019 |
Your president is deaf and dumb |
Re: Nigerians Worried Over Fate Of Innoson As Hyundai Plans To Set Up Car Plant by edoairways: 7:17am On Dec 19, 2019 |
obailala:Yes |
Re: Nigerians Worried Over Fate Of Innoson As Hyundai Plans To Set Up Car Plant by obailala(m): 9:45am On Dec 19, 2019 |
edoairways:Okay, but that makes zero economic sense, and it would be disastrous for any country to chase away investors, let alone a country like Nigeria which direly needs foreign investments. Nigeria needs any kind of investment that can boost the industrialisation and manufacturing sector. The benefits are obvious, it will create numerous jobs, there would be technology transfer, it will boost government revenue, save forex etc. As long as they arent just importing cars into Nigeria, even if it just to assemble the already produced parts, as long as a phase of 'value addition' is done in Nigeria, it will be beneficial to our economy. 2 Likes |
Re: Nigerians Worried Over Fate Of Innoson As Hyundai Plans To Set Up Car Plant by marvincriz(m): 11:04am On Dec 19, 2019 |
My question is will this present govt allow another company to start producing cement? |
Re: Nigerians Worried Over Fate Of Innoson As Hyundai Plans To Set Up Car Plant by edoairways: 3:51pm On Dec 19, 2019 |
obailala:Let the local business catch first before letting foreigners to compete |
Re: Nigerians Worried Over Fate Of Innoson As Hyundai Plans To Set Up Car Plant by obailala(m): 4:28pm On Dec 19, 2019 |
edoairways:Yhis isnt qbout competition, theres a very large car market in Nigeria and our local vehicle manufacturers cant meet up to 0.01% of the demand. Nigeria currently has a dead economy. So anything to boost the economy and provide jobs is a welcome development. FYI, there's is a clear difference between importing Hyundai cars and having Hyundai come into Nigeria to manufacture the cars; every nation welcomes that. 1 Like |
Re: Nigerians Worried Over Fate Of Innoson As Hyundai Plans To Set Up Car Plant by NGpatriot: 4:31pm On Dec 19, 2019 |
China made it as a global and manufacturing power from scratch by demanding that foreign manufacturers must establish manufacturing plants in China if they want to sell in China even though they have their own struggling industries. You know why? Because of Technology Transfer, they want other people's manufacturing technologies on their soil to copy, steal and adapt to help their own local industries. It's in the interest of Nigeria and Innoson to have foreign manufacturing plants in Nigeria to drive up manufacturing, production standards, and healthy competition. We can not develop as a nation by just allowing into Nigeria finished products that don't help the Nigerian economy, manufacturing sector and even Innoson itself. Powerful countries live on their export markets and potentials because they have products to export for hard currency so we must develop our own cash value and major export products to not only generate income locally and internationally which Innoson can not do regardless of how many cars they make in Nigeria. Say no and watch they take their investments and jobs to Ghana and send the finished products to Nigeria and other West African countries. We need to stop being shortsighted and too narrow in our thinking. 1 Like |
Re: Nigerians Worried Over Fate Of Innoson As Hyundai Plans To Set Up Car Plant by edoairways: 4:34pm On Dec 19, 2019 |
obailala:We should consume local products that is how an economy grows. If countries like China and Singapore didn't restrict the influx of foreign products they wouldn't have been where they are today. The government is adopting import substitution however this policy may be to detriment of other infant industries |
Re: Nigerians Worried Over Fate Of Innoson As Hyundai Plans To Set Up Car Plant by NGpatriot: 4:44pm On Dec 19, 2019 |
edoairways: China did not restrict the influx of products across the board, nearly all the major auto manufacturers in the world manufacture cars in China, even Tesla opened their new and largest Giga factory in China just months ago. We are not talking about rice, soap or cornflakes, we are talking about major manufacturing industries. 1 Like |
Re: Nigerians Worried Over Fate Of Innoson As Hyundai Plans To Set Up Car Plant by obailala(m): 4:52pm On Dec 19, 2019 |
edoairways:There is everything to benefit if those cars we inevitably import are actually produced here in Nigeria. Local manufacturers cannot meet up to 0.1% of the demand, so we will end up still importing until local capacity grows. Until then, it makes all economic sense to have the producers of these cars we import, have their production plants in Nigeria; it is better to produce them in Nigeria than to import them. The only reason why Nigeria can talk of restricting importation of rice is because we at least can currently produce up to 50% or even more of our local demand. Anything else would amount to just outright economic madness. 1 Like |
Re: Nigerians Worried Over Fate Of Innoson As Hyundai Plans To Set Up Car Plant by voltron14: 4:56pm On Dec 19, 2019 |
marvincriz: You mean apart from Lafarge? |
Re: Nigerians Worried Over Fate Of Innoson As Hyundai Plans To Set Up Car Plant by FreeSoworeNow: 4:57pm On Dec 19, 2019 |
[s] voltron14:[/s] |
Re: Nigerians Worried Over Fate Of Innoson As Hyundai Plans To Set Up Car Plant by NGpatriot: 5:07pm On Dec 19, 2019 |
1 Like 1 Share |
Re: Nigerians Worried Over Fate Of Innoson As Hyundai Plans To Set Up Car Plant by edoairways: 5:22pm On Dec 19, 2019 |
obailala:Local manufacturers can't meet up because the government doesn't support them. |
Re: Nigerians Worried Over Fate Of Innoson As Hyundai Plans To Set Up Car Plant by edoairways: 5:24pm On Dec 19, 2019 |
NGpatriot:I never said they restricted goods across board.Chinese market was already stabilized with local products before foreign ones came |
Re: Nigerians Worried Over Fate Of Innoson As Hyundai Plans To Set Up Car Plant by obailala(m): 5:38pm On Dec 19, 2019 |
edoairways:Of course the govt can to more to support local manufacturers, but even if the entire annual budget is given to local manufacturers (which we know is impractical), it wouldn't still be enough for them to meet up with the demand. So until such a time when local manufacturing begins to meet considerable demand levels, it is still a very good economic decision to get foreign investors into the country to set up plants. |
Re: Nigerians Worried Over Fate Of Innoson As Hyundai Plans To Set Up Car Plant by NGpatriot: 5:39pm On Dec 19, 2019 |
edoairways: Be specific about the local products you are talking about. We are talking about goods like cars and industrial products, not household consumer goods, China allowed all the major foreign car manufacturers including Tesla into their country to manufacture cars even though their own local auto manufacturers are not major, not established or known outside of China, they allowed them into China to create jobs, to transfer technology and generate IGR. China is making commercial planes today because they allowed Boeing and other aircraft manufacturers to come in first, then transfer and copy the technology needed to manufacture their own. Denying yourself jobs, technology, IGR and world-class industrial production and practices because of one ill-equipped and underperforming knock-off assembly factory is penny-wise pound foolish. |
Re: Nigerians Worried Over Fate Of Innoson As Hyundai Plans To Set Up Car Plant by NGpatriot: 5:45pm On Dec 19, 2019 |
edoairways: Buhari govt gives Innoson support, patronage – Innocent Chukwuma You are wrong because according to Innoson himself, he's getting support and patronage from the FG and many states in Nigeria. |
Re: Nigerians Worried Over Fate Of Innoson As Hyundai Plans To Set Up Car Plant by edoairways: 6:00pm On Dec 19, 2019 |
NGpatriot:The support is not good enough. Secondly many Nigerians prefer foreign products to local ones |
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