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Nairaland Forum / Nairaland / General / Politics / Why Do The Igbos Refuse To Go Into Manufacturing? (6530 Views)
ICT: Umahi Urges Igbo Technologists To Go Into Manufacturing, Invest At Home. / Ict:gov Umahi Urges Igbo Technologist To Go Into Manufacturing, Invest At Home / "Nigeria Is Better Without The Igbos" - Alaba Ajibola, Babcock University Staff (2) (3) (4)
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Why Do The Igbos Refuse To Go Into Manufacturing? by Aconomist: 2:51pm On Dec 03, 2020 |
Igbos are known to have a very business-oriented culture, but it seems to focus on petty trading and hustling instead of value-added manufacturing. Take for example Ibeto cement. While his peers Dangote and Rabiu (BUA Group) graduated from importing into manufacturing, Ibeto continues to cling to the old business model of mass importation which drains the nation's FOREX reserves and creates poverty and unemployment. I don't want to hear excuses today. It is very alarming that, among the Nigerian billionaires, none are Igbo. 2 Fulani, and 3 Yoruba. 12 Likes 2 Shares |
Re: Why Do The Igbos Refuse To Go Into Manufacturing? by SlayerForever: 2:53pm On Dec 03, 2020 |
Clown. 24 Likes 1 Share |
Re: Why Do The Igbos Refuse To Go Into Manufacturing? by RedPanthar: 3:00pm On Dec 03, 2020 |
They aren't as astute as they think The quick fix. Importation is fast. Too well with critical creative thinking We're not pro-productiviity. Consumerism is the black man's curse. To consume and consume like locusts Push to front page. Let's interact mods Lalasticlala Dominique Mynd44 MrKnowItAll 12 Likes 1 Share |
Re: Why Do The Igbos Refuse To Go Into Manufacturing? by rossniti: 3:01pm On Dec 03, 2020 |
Aconomist: There's a lot of manufacturing going on in the Eastern industrial heartlands of Onitsha, Nnewi, Awka, and Aba. There are factories everywhere there manufacturing all types of products. 41 Likes 1 Share |
Re: Why Do The Igbos Refuse To Go Into Manufacturing? by Aconomist: 3:04pm On Dec 03, 2020 |
rossniti:That's true. I've seen it. But, there are very few Igbo businessmen manufacturing on an industrial scale like Dangote and BUA Group are doing. 8 Likes |
Re: Why Do The Igbos Refuse To Go Into Manufacturing? by IamWonderful: 3:08pm On Dec 03, 2020 |
Quiet money, scam and swindling 1 Like 1 Share |
Re: Why Do The Igbos Refuse To Go Into Manufacturing? by Aconomist: 3:12pm On Dec 03, 2020 |
Many Igbos will make the excuse that the Federal Government is favoring Northerners, but I don't think this is the case. Nigeria is a pay to play system, and if you grease the right palms, doors will open for you. Also, the government will naturally favor a company that is in line with its import substitution policy over a company that is brainlessly importing and draining FOREX. It is very alarming that, among the Nigerian billionaires, none are Igbo. 2 Fulani, and 3 Yoruba. Real wealth comes from value creation, not hustling and petty trading 12 Likes 2 Shares |
Re: Why Do The Igbos Refuse To Go Into Manufacturing? by rossniti: 3:13pm On Dec 03, 2020 |
Aconomist: If you've got a factory, you're manufacturing on an industrial scale. Just because you're not as big as Dangote doesn't mean you're not. Only a fraction of manufacturing firms on earth are multi-billion dollar enterprises. 24 Likes 1 Share |
Re: Why Do The Igbos Refuse To Go Into Manufacturing? by Dedetwo(m): 3:18pm On Dec 03, 2020 |
SlayerForever: Big Time Clown!!! 15 Likes |
Re: Why Do The Igbos Refuse To Go Into Manufacturing? by Dedetwo(m): 3:20pm On Dec 03, 2020 |
Aconomist: Have you heard about "Igbo Made" in Nigeria? The government of Nigeria made sure Ibeto Group of Companies did not manufacture cement in Nigeria. The firmed cement industry in Igweocha (Port Harcourt) was given a life by Ibeto until the silly government stepped into the market to give monopoly on cement to peeps from northern region, Dangote and Rabiu (BUA Group). 24 Likes |
Re: Why Do The Igbos Refuse To Go Into Manufacturing? by BastardWike: 3:24pm On Dec 03, 2020 |
Aconomist:Do you think Dangote would be where he is today without 100% government support? Now, the question is, with the level of Igbophobia in Nigeria, can any Igbo man get that sort of government support and protection? 26 Likes |
Re: Why Do The Igbos Refuse To Go Into Manufacturing? by Nobody: 3:25pm On Dec 03, 2020 |
Aconomist:The igbo tomatoes paste manufacturer that cried and cried how far ? Igbos don't invest for investment sake ...if the conditions are right why not ? Igbos only manufacturer things that we have comparative advantage over , that's things we can produce cheaper than their landing cost ...we are big time capitalist ...100% capitalist ...when rice milling became profitable no body told Igbos to enter rice simple ... Igbos can't be as big as dangote because most are first generation wealth it's difficult and the fact they carry alot of people along so alot of relations dominate a sector rather than one man 26 Likes 1 Share |
Re: Why Do The Igbos Refuse To Go Into Manufacturing? by ZZ22: 3:26pm On Dec 03, 2020 |
Is there any group in Nigeria that has more indigenous industries than Igbos? We produce most of the things we use here. 12 Likes |
Re: Why Do The Igbos Refuse To Go Into Manufacturing? by BastardWike: 3:31pm On Dec 03, 2020 |
In addition, the civil war wiped out the economy of the Igbos. People like Odumegwu Ojukwu Snr, the Mbanefos etc. lost their wealth among all other Igbos. Every one had to begin afresh while other Nigerians retained their wealth. What happened to Igbos was devastating and would take any other ethnic group forever to recover from but we have been able to close the gap and even get ahead in some areas, maybe that's why people rarely acknowledge the extent of what we passed through. 33 Likes 4 Shares |
Re: Why Do The Igbos Refuse To Go Into Manufacturing? by Aconomist: 3:42pm On Dec 03, 2020 |
BastardWike:That is not entirely true. Igbos don't lack wealth or capital. The problem is that most wealthy Igbo tend to brainlessly amass land instead of using their capital for production. This, I believe, is a major reason why the SE is underdeveloped. If you want to look at land wealth in Nigeria, Igbos are probably the wealthiest in Nigeria. The capital is simply being misallocated to non-productive investments. 7 Likes |
Re: Why Do The Igbos Refuse To Go Into Manufacturing? by BastardWike: 3:44pm On Dec 03, 2020 |
Igbochief001: Wow, you just said exactly what I stated. That example you gave is a perfect one. Erisco kept lamenting about his inability to get forex from CBN and warned it was putting his investments and workers at risk. Yet he was ignored and he even threatened to close his factory and relocate it to China and he was still ignored! Now, Erisco were to be Dangote or just a random fulani man, would he have suffered that fate? Also, the economy of Nigeria favours importation more than production, and any capitalist will always do what will make him to maximize profits. You build your factory in Nigeria, generate your own power with deisel generators that will push your over head skywards among other debilitating factors when in contrast, you can simply take a flight to China, meet producers there, give them your prototype to produce or just make orders from what they already have in stock and place your logo on it, bring them to Nigeria and make cool profits while your counterpart who built his factory in Nigeria will be struggling to cover his expenses talk more of profit. However, that's not to say that Igbos aren't into manufacturing, they still have the highest numbers of local manufacturers in Nigeria. But they would have embraced manufacturing far more if Nigeria is conducive for them. 20 Likes |
Re: Why Do The Igbos Refuse To Go Into Manufacturing? by RedPanthar: 3:45pm On Dec 03, 2020 |
Aconomist: Simple. The igbos so not intituitively track it's use of financial resources to help make better decisions |
Re: Why Do The Igbos Refuse To Go Into Manufacturing? by RedPanthar: 3:47pm On Dec 03, 2020 |
BastardWike: Tales Episcopi was given up to 1000 acres. Whatever he needed for the success of the tomato production outfit could come out of that. Give me 500 acres for tomato cultivation and I'll. Smack down tomato. Paste production hands down Eriscoi isn't good enough simple. Is Chi not operating in Nigeria? 2 Likes 1 Share |
Re: Why Do The Igbos Refuse To Go Into Manufacturing? by Nobody: 3:47pm On Dec 03, 2020 |
BastardWike:Yes igbo man likes to do his things alone and not involve politics Nigeria is the only country where it's easy to import finished products that raw materials The only country where it's far easier to import that export ... This are the main things fueling the Biafra dream 4 Likes |
Re: Why Do The Igbos Refuse To Go Into Manufacturing? by RedPanthar: 3:48pm On Dec 03, 2020 |
BastardWike: It's been atleast 50 years since the civil war. Make we hear word. Innoson and many production outfits across the world didn't start before the civil war era |
Re: Why Do The Igbos Refuse To Go Into Manufacturing? by MadamExcellency: 3:48pm On Dec 03, 2020 |
Aconomist: The Federal Government will frustrate the companies. Innoson and Tummy Tummy have been repeatedly threatened to move to Kaduna or LAGOS. Ibeto Cement was frustrated by FG and is almost out of business. The Civil war never ended economically, just a cease fire. 18 Likes 1 Share |
Re: Why Do The Igbos Refuse To Go Into Manufacturing? by RedPanthar: 3:49pm On Dec 03, 2020 |
I've always said it, the myth of the igbo man's greatness is merely assumed than is factual 1 Like |
Re: Why Do The Igbos Refuse To Go Into Manufacturing? by RedPanthar: 3:50pm On Dec 03, 2020 |
MadamExcellency: What glorious excuse Lol Infinity cereals is in ibadan doing their best with cereals and biscuits There are many good igbo furniture makers and mattress makers Vita foam Purebliss is making biscuits and wafers In this same bad Nigeria o FreshYo is making yoghurt and cream It's hi time people accept the myth of the igbo man's greatness is purely assumed the reality Go to akwa I on and cross river. So and see their state governments breaking grounds setting up. Companies. Abia did the same with shoe making support systems. |
Re: Why Do The Igbos Refuse To Go Into Manufacturing? by BastardWike: 3:53pm On Dec 03, 2020 |
RedPanthar: Do you know how many Innosons we would probably have now or how big they would be now if the sociopolitical and economic development of Igbos wasn't disrupted?? 9 Likes 1 Share |
Re: Why Do The Igbos Refuse To Go Into Manufacturing? by RedPanthar: 3:53pm On Dec 03, 2020 |
My verdict is thus. I was at Alaba multiple times in the past few weeks and move around heavy equipment markets and I'm proud of my. Igbo brothers and pray their glory and greatness is achieved however 3 Likes |
Re: Why Do The Igbos Refuse To Go Into Manufacturing? by MadamExcellency: 3:53pm On Dec 03, 2020 |
RedPanthar: The Igbos Manufacturers want to do it in their region but the Federal Government says NO. It must be in Kaduna, Kano, Ogun or Lagos State 5 Likes |
Re: Why Do The Igbos Refuse To Go Into Manufacturing? by RedPanthar: 3:54pm On Dec 03, 2020 |
MadamExcellency: It's a lie. I'm setting up a few production outfits Nobody is determining my location. The FG doesn't determine the location of. Nada My. Uncle has the largest bakeries for example in my place when asked to. Move out he says he wants to promote business activity in his place. Let me give you cogent examples the igbos need to do some serious soul searching. I've heard Nnamdi kanu offered 200 Million Naira for some person's head. Do you know the average production outfit doesn't cost more than 150 Million Naira Anambra alone can produce 1000 men that can cough out 150 Million in just a few seconds. Why can't they raise these so called group of business men with like minds under the auspicies of Igbo business men for the development of SE and setup 1000 industries. If SE has 1000 industries creating 50 jobs per industry, that's 50,000 jobs created by Ndigbo for Ndigbo. The igbos have the talent. I've seen them operate heavy machinery in different market locations. And I weep each time I see them operate and wish they could be more. But they are blinded Rather than chase politics groups like Orange can summon rich igbo sons and daughters to set up industries and before you know it 1000 industry will. Grow to 5000 industries and 50000 jobs to 250000 jobs. The Ndigbo already have financial flow and finance in banking industry and will provide the support. It's simple. I've been very angry with igbo elites. If my tribe has much of what they have I will be cursing my elders daily. I hope and pray they discover what they have 6 Likes 2 Shares |
Re: Why Do The Igbos Refuse To Go Into Manufacturing? by MadamExcellency: 4:00pm On Dec 03, 2020 |
RedPanthar: Please stop the argument. First establish the company, depending on the scale (we are not talking about mushroom companies) and let's see. Please, I am a seasoned Engineer that have worked with 5 Multinationals including Oil companies. A one time incorruptible Labour Union leader. 1 Like |
Re: Why Do The Igbos Refuse To Go Into Manufacturing? by RedPanthar: 4:02pm On Dec 03, 2020 |
MadamExcellency: Lol. Madam. I'm setting up 300 acres o. Calm yourself down. I know you're an engineer. You may not know me but I changed my. Moniker and know you. Mind you. I was JETS level chemistry and physics expert at my last academia level I stand by my verdict On paper I have 200 industries and have started with the first 3. I nor announce am. It's slow by funds but I'm not making excuses. Stop making excuses. My. First set of projects Don take off. 10 workers. I don try. At my level. No financial sponsorship from anywhere. Yet I'm not making excuses Entrepreneurship is doing what one can withoj the availability of one's resources to achieve intended objectives not make excuses. 2 Likes |
Re: Why Do The Igbos Refuse To Go Into Manufacturing? by BastardWike: 4:03pm On Dec 03, 2020 |
Aconomist: I have already explained the reason why Igbos as capitalists would rather import than produce when it is far more profitable to do the former. Buying lands is never a brainless thing to do, that's coming from a position of ignorance. In today's Nigeria, buying lands as a way of hedging funds is arguebly the most profitable and guaranteed way of keeping your money above inflation. Go and ask those billionaires that kept their money in banks or invested in some areas only to have their fingers burnt. However, lands never depreciate but keeps appreciating against inflationary pressures. 10 Likes 1 Share |
Re: Why Do The Igbos Refuse To Go Into Manufacturing? by Aconomist: 4:03pm On Dec 03, 2020 |
BastardWike:What does a tomato paste factory desperately need FOREX for? If ERISCO was a serious company, he would be sourcing his raw materials in Nigeria to avoid that problem or do like Dangote is doing and vertically integrate by cultivating his own tomato farm. ERISCO was not serious. He wanted that FOREX to continue brainless importation. 2 Likes 2 Shares |
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