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P&G To Dissolve Ground Operations In Nigeria, Revert To An Import-only Business - Business (4) - Nairaland

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Re: P&G To Dissolve Ground Operations In Nigeria, Revert To An Import-only Business by Eriokanmi: 11:13pm On Dec 06, 2023
tsdarkside:
they only come to nigeria for the dollars....

nothing else....
when we tell una this foreighn companies are doing nigeria no good,una will not listen....
My cousin worked at Procter and Gamble at Oluyole Estate in Ibadan for years and he was never paid in dollars. P&G never evaded tax. They contributed greatly to oyo state IGR and that of the FG at large. Their products were for Nigerian Market only. They got the lemon from Nigerian local farmers and made them multi millionaires by constantly patronising them. I remember a time P&G brought an improved yield of the lemon to the farmers from IITA to enhance their yields. P&G had enough money to cultivate lemon but never did, just to promote local sources of supply and create wealth among farmers in a way. They didn't export their products. I'm sure you know the popular vicks lemon plus. It's the product I'm talking about. Lemon peel is one of the ingredients.

You are one of the enemies of Nigeria guy. All of you will definitely bear the consequences of your defence of the indefensible soon.

How would these farmers growing lemon survive? Hope you know they have families and employees on their farmlands? Where would they go? What of those Nigerians working on the P&G plant? You're disgrace to humanity

18 Likes 2 Shares

Re: P&G To Dissolve Ground Operations In Nigeria, Revert To An Import-only Business by olamike02: 11:14pm On Dec 06, 2023
This is getting out of hands. Diesel is out of reach for many companies. Gas supply is as erratic as NEPA electric power supply. This govt is not getting anything right . Fix power and these companies will stay and prosper.

4 Likes 1 Share

Re: P&G To Dissolve Ground Operations In Nigeria, Revert To An Import-only Business by Reference(m): 11:15pm On Dec 06, 2023
We warned them (government) to take inflation seriously, but their fanatics said we talk too much.
They said they were looking for foreign investors.
Foreign investors that will watch their investments watered down by 30 percent inflation every year?
Who does that.

3 Likes 1 Share

Re: P&G To Dissolve Ground Operations In Nigeria, Revert To An Import-only Business by vikstandon(m): 11:17pm On Dec 06, 2023
Jokerman:
1. If P&G leaves, means many people will lose their jobs?? Na wa o

2. What about their products, hope price won't increase again o?

God help us... And local companies don't have capital to start...

Make I go learn importation business o

No be to learn be the issue... Na accessing forex to buy the products.
Re: P&G To Dissolve Ground Operations In Nigeria, Revert To An Import-only Business by Hohaiiiode(m): 11:20pm On Dec 06, 2023
iwaeda:

They are wasting scarce resources to travel round the world. Everyone is leaving creating unemployment, APC is really a cancer. Nigeria will rise against this evil team. grin grin grin grin
which Nigerians , the same once divided against tribe and religion? The same once whom among them we have the judiciary and the army and police ? Nigerians are powerless and mostly unwilling . Even if there wake up. The system is so dysfunctional that their will, will be broken

4 Likes

Re: P&G To Dissolve Ground Operations In Nigeria, Revert To An Import-only Business by JOemmy(m): 11:20pm On Dec 06, 2023
Companies just keep fleeing nigeria is this how tinibu want to achieve his $1t economy?

3 Likes

Re: P&G To Dissolve Ground Operations In Nigeria, Revert To An Import-only Business by vikstandon(m): 11:21pm On Dec 06, 2023
Ojuntana:
APC is a natural disaster
Mismanaged our unity in diversity
Destroyed our once booming economy
Messed up our internal security
The only thing they are good at is recruiting miscreants for lies and propaganda


They began with propaganda in 2015... People clapped for them.
Everyone echoed change... THE CHANGE IS HERE.
Bala Blu Blu would finish what is left.
I pray he doesn't hand over an irredeemable Nigeria.

2 Likes

Re: P&G To Dissolve Ground Operations In Nigeria, Revert To An Import-only Business by femi4: 11:25pm On Dec 06, 2023
immortalcrown:
"Hit the ground running."

The message is becoming clear now. It was a parable before now.
The ground no gree run grin.....from baba go slow to baba no direction

2 Likes

Re: P&G To Dissolve Ground Operations In Nigeria, Revert To An Import-only Business by nairalanda1(m): 11:27pm On Dec 06, 2023
Got to use them generics.

Basically, this is the result of failure to diversify the economy. As a result, we are not earning enough...and this has knock on effects.

Like I said, APC should have been voted out this year. We needed at least the idea of something new. But the opposition was divided, and here we are.

2 Likes

Re: P&G To Dissolve Ground Operations In Nigeria, Revert To An Import-only Business by Eriokanmi: 11:27pm On Dec 06, 2023
Dsimmer:
If they're only going to import, they should leave the country as soon as possible. Who tell them the people in the country can't import themselves if they want? They're the ones sabotaging this country for us.
How much do you think is enough to erect just one manufacturing plant? If any of those calling themselves billionaires in Nigeria should have just one of the P&G plants, he'd go bankrupt in a matter of months. They're worth billions of dollars. P&G is one of the topmost multinationals with branches in several countries of the world. Go to Oluyole Estate in Ibadan and see things.

When the raw materials sourced locally aren't there and are more expensive where available, what would they do? Those farmers supplying them the lemon used in producing vicks lemon plus according to my cousin who's one of their ogas, farmers were complaining that the chemical used in keeping the lemon green and control pests were too expensive cos of high fx rates. This complaint was constantly coming from farmers cos P&G always rejected their poor yields and the lemon was still very expensive despite this complaint. Now I believe what he said with this news. If P&G is getting their lemon cheaper and fresher from South Africa, why won't they go there? If they should embark on this course, many wouid lose their jobs and many local farmers would pack up and also send many out of jobs on their farmland

6 Likes 1 Share

Re: P&G To Dissolve Ground Operations In Nigeria, Revert To An Import-only Business by OmoGomesIlorin: 11:28pm On Dec 06, 2023
Jokerman:
1. If P&G leaves, means many people will lose their jobs?? Na wa o

2. What about their products, hope price won't increase again o?

God help us... And local companies don't have capital to start...

Make I go learn importation business o

There is nothing special in their business lines.

What exactly does Procter and Gamble do?
The company's product portfolio comprises conditioners, shampoo, male and female blades and razors, toothbrushes, toothpaste, dish-washing liquids, detergents, surface cleaners and air fresheners.
Re: P&G To Dissolve Ground Operations In Nigeria, Revert To An Import-only Business by amadiama(m): 11:28pm On Dec 06, 2023
God help this nation!!!... everyone is leaving!!..
Re: P&G To Dissolve Ground Operations In Nigeria, Revert To An Import-only Business by amadiama(m): 11:29pm On Dec 06, 2023
PHIPEX:
They keep leaving while we keep on looking for more foreign investors rather than plugging the hole that's making them leave.

How about grooming more local investors?

Local investors that will pay peanuts and yet use you like slave!

2 Likes

Re: P&G To Dissolve Ground Operations In Nigeria, Revert To An Import-only Business by Bossman(m): 11:34pm On Dec 06, 2023
The population never really had much of a purchasing power. An overwhelming majority of the over 200 million are very low income earners.
nedu666:
I don't blame them. Like seriously a country of 200 million people generated a net sales of $50 million dollars. As in that is the height of poverty. Nigerians purchasing power has taken a serious hit

1 Like

Re: P&G To Dissolve Ground Operations In Nigeria, Revert To An Import-only Business by YoshihideSuga: 11:41pm On Dec 06, 2023
codemaniacs:


That's 50 billion naira.

If $1 was equal to 30 naira they won't be complaining.

You're wrong it's not the purchasing power that has taken serious hit it's the naira's exchange rate that has taken a massive hit.

Argentina generated $200 million yet has a currency crises.

Nigerians have low purchasing power. https://twitter.com/onu_kwue/status/1732423126435365086?t=c1izwi5hlAdLTqd4DwphCg&s=19

2 Likes

Re: P&G To Dissolve Ground Operations In Nigeria, Revert To An Import-only Business by owagbeba: 11:49pm On Dec 06, 2023
tsdarkside:
they only come to nigeria for the dollars....

nothing else....
when we tell una this foreighn companies are doing nigeria no good,una will not listen....


It is very difficult to do business in Nigeria. P&G import raw materials for their local production. Just like many business including mine, it is difficult accessing forex.

Take this example

You have a shipment worth 70,000USD at Apapa port. You apply for form M, then you pay 300k SON documentation to apply PAAR.

You get a surface duty of 10,500,000 which goes up to 15,000,000 After DTI computation and entry.

You pay your stipulated, only to see on Ascoda system that your import has been alerted by the same folks at Abuja that issued you PAAR for no reason. Then you begin negotiating for the cancellation of this alert. Negotiation equals settlement in this part of the world. You go through the hoop settling myriad of agencies: police, CIU, SoN, DC squad , chief examiner. Etc.

Finally you get an exit note. Customs at Gate now queries your exit note. They say your 20% duty rate is not sufficient. Government has a target to meet. You have to settle or else you get a DN. When you are done with all these groups eager to get a bit off you, you are faced with another group on the roads: FOU and Agbero. The whole process of doing anything in this country is sooooooo frustrating .

The funniest part… don’t ever think the past is gone. There is a new group called customs post audit. They review all previous releases and re-issue DN on these cleared cargos. Every dept has a target to meet. You must cough up or be damned…. Go figure!

7 Likes 1 Share

Re: P&G To Dissolve Ground Operations In Nigeria, Revert To An Import-only Business by tete7000(m): 11:56pm On Dec 06, 2023
nedu666:
I don't blame them. Like seriously a country of 200 million people generated a net sales of $50 million dollars. As in that is the height of poverty. Nigerians purchasing power has taken a serious hit

Your not believing them doesn't do anything to them. Were they not the same company who operated in Nigeria for long? If they are making profit, you think they will leave? Or did they consult you before they came and open their business here? They relied on you believing them before they did that? The earlier you accept that apc has destroyed this country, the better for you. Eight years of Buhari decimated everything, and the damage is still ongoing under Tinubu. No business making money close down for no tangible reason.

4 Likes 1 Share

Re: P&G To Dissolve Ground Operations In Nigeria, Revert To An Import-only Business by Tntsi: 11:57pm On Dec 06, 2023
OmoGomesIlorin:


There is nothing special in their business lines.

What exactly does Procter and Gamble do?
The company's product portfolio comprises conditioners, shampoo, male and female blades and razors, toothbrushes, toothpaste, dish-washing liquids, detergents, surface cleaners and air fresheners.


Shame on you. You are curse to humanity.
Qwantinue to defend this curse on the land.
It will collapse on your head soonest.

3 Likes

Re: P&G To Dissolve Ground Operations In Nigeria, Revert To An Import-only Business by TrumpDonald2: 11:58pm On Dec 06, 2023
victorVIC1:


You are contradicting yourself. The post clearly shows that P&G is switching fully to import based operations. This implies they are shutting down local production. If indeed you are in support of the need to expand local manufacturing then the original post shouldn't appear as good news to you.

I am a proponent of local production by local investors. Are there not local investors still producing in the country? Of course there are. P&G is shutting down local production partly because of trapped funds. Do they have resources to continue local production, yes. But will they continue, no. Because its now more profitable for them to just import.

Foreign investors just like every other business is to make profit. Their profit. Now what we have is job loss. The reason why local investors will always be more beneficial to the country than foreign investors.

Had it been a local investor, will it be shutting down productions?

https://punchng.com/foreign-investors-repatriate-5bn-dividend-cbn/

1 Like

Re: P&G To Dissolve Ground Operations In Nigeria, Revert To An Import-only Business by oyeb15: 12:01am On Dec 07, 2023
We told them. Internal production will collapse and everybody will depend on importation as a result of subsidy removal.

At d end on the day, Naira will collapse. Inflation will bite harder . Government won't even be able to discharge her duties effectively again.

No economy survive wherever energy is expensive.

Tinubu should correct his mistakes asap.

2 Likes

Re: P&G To Dissolve Ground Operations In Nigeria, Revert To An Import-only Business by mdimefields: 12:01am On Dec 07, 2023
One fool cum fake pastor will soon twits the narratives that a certain tribe is responsible for their exit.
You wonder how a man above fifty years will be so childish and tribalist in orientation.
Re: P&G To Dissolve Ground Operations In Nigeria, Revert To An Import-only Business by tsdarkside(m): 12:03am On Dec 07, 2023
owagbeba:



It is very difficult to do business in Nigeria. P&G import raw materials for their local production. Just like many business including mine, it is difficult accessing forex.

Take this example

You have a shipment worth 70,000USD at Apapa port. You apply for form M, then you pay 300k SON documentation to apply PAAR.

You get a surface duty of 10,500,000 which goes up to 15,000,000 After DTI computation and entry.

You pay your stipulated, only to see on Ascoda system that your import has been alerted by the same folks at Abuja that issued you PAAR for no reason. Then you begin negotiating for the cancellation of this alert. Negotiation equals settlement in this part of the world. You go through the hoop settling myriad of agencies: police, CIU, SoN, DC squad , chief examiner. Etc.

Finally you get an exit note. Customs at Gate now queries your exit note. They say your 20% duty rate is not sufficient. Government has a target to meet. You have to settle or else you get a DN. When you are done with all these groups eager to get a bit off you, you are faced with another group on the roads: FOU and Agbero. The whole process of doing anything in this country is sooooooo frustrating .

The funniest part… don’t ever think the past is gone. There is a new group called customs post audit. They review all previous releases and re-issue DN on these cleared cargos. Every dept has a target to meet. You must cough up or be damned…. Go figure!

its not the job of nigeria to be providin you dollars....

if you want dollars,then start your business in america that controls dollars....thats common sense....

if the raw materials you need for your business is not in nigeria,then it makes no sense to open shop in nigeria....
from were do you think nigeria gets it own dollars from....??
you think america dash them....??

you are blamin the wrong people....
you want dollars,international companies want dollars,common people want dollars....
to add salt to injuries,you use aboki when you have dollars other than cbn....

its good the way nigerian customs are doing it....to remind you people that nigeria is not a dollar economy but naira....

imports should be discouraged at all cost....
Re: P&G To Dissolve Ground Operations In Nigeria, Revert To An Import-only Business by gigfx: 12:12am On Dec 07, 2023
This type of news will be a common type going forward, those coys even try to be in operation up until now. The day Emilokan said petrol subsidy has being removed, for any fast thinking citizen supposed don know all this will happen and this type is just the beginning, more coys to join and more unemployment will follow. Crime is another think that will increase.

For a govt that removed subsidy and continue spending like say nothing happen to the economy. The shame is on the cizitens especially those ones that will praise govt, on hearing some stupid promises.

Anywhere in the world, people dont praise govt, they are not using their papa or mama money, they are using our collective resources and Tax generated from me and you and coys like this one.

If all these coys close and no enough corporate tax for govt, just know that the burden go still come ontop those managing with the little job they have.

2 Likes 1 Share

Re: P&G To Dissolve Ground Operations In Nigeria, Revert To An Import-only Business by Theunbothered: 12:18am On Dec 07, 2023
Please where is SeaTrade who was arguing rubbish with me last week? grin

You guys will learn by force.

1 Like

Re: P&G To Dissolve Ground Operations In Nigeria, Revert To An Import-only Business by Evolutionism: 12:22am On Dec 07, 2023
owagbeba:

It is very difficult to do business in Nigeria. P&G import raw materials for their local production. Just like many business including mine, it is difficult accessing forex.

Take this example

You have a shipment worth 70,000USD at Apapa port. You apply for form M, then you pay 300k SON documentation to apply PAAR.

You get a surface duty of 10,500,000 which goes up to 15,000,000 After DTI computation and entry.

You pay your stipulated, only to see on Ascoda system that your import has been alerted by the same folks at Abuja that issued you PAAR for no reason. Then you begin negotiating for the cancellation of this alert. Negotiation equals settlement in this part of the world. You go through the hoop settling myriad of agencies: police, CIU, SoN, DC squad , chief examiner. Etc.

Finally you get an exit note. Customs at Gate now queries your exit note. They say your 20% duty rate is not sufficient. Government has a target to meet. You have to settle or else you get a DN. When you are done with all these groups eager to get a bit off you, you are faced with another group on the roads: FOU and Agbero. The whole process of doing anything in this country is sooooooo frustrating .

The funniest part… don’t ever think the past is gone. There is a new group called customs post audit. They review all previous releases and re-issue DN on these cleared cargos. Every dept has a target to meet. You must cough up or be damned…. Go figure!

1 Like

Re: P&G To Dissolve Ground Operations In Nigeria, Revert To An Import-only Business by tsdarkside(m): 12:22am On Dec 07, 2023
Princebest:
Sad. I pity those that will be out of job as a result of this.


Thing like this is why being self employed is still the best.



Check my Bio for easy skills to help you start up something for yourself.

nonesense....

how many nigerians do you think this rubbish companis hire in nigeria that justify them doing anyhow....??

if they cant operate in nigeria,then they should go....
last i remember,nigeria has local pharmacy companies too,that they drove out of business....they will retake their place again....
Re: P&G To Dissolve Ground Operations In Nigeria, Revert To An Import-only Business by Evolutionism: 12:24am On Dec 07, 2023
gigfx:
This type of news will be a common type going forward, those coys even try to be in operation up until now. The day Emilokan said petrol subsidy has being removed, for any fast thinking citizen supposed don know all this will happen and this type is just the beginning, more coys to join and more unemployment will follow. Crime is another think that will increase.

For a govt that removed subsidy and continue spending like say nothing happen to the economy. The shame is on the cizitens especially those ones that will praise govt, on hearing some stupid promises.

Anywhere in the world, people dont praise govt, they are not using their papa or mama money, they are using our collective resources and Tax generated from me and you and coys like this one.

If all these coys close and no enough corporate tax for govt, just know that the burden go still come ontop those managing with the little job they have.
Re: P&G To Dissolve Ground Operations In Nigeria, Revert To An Import-only Business by tsdarkside(m): 12:24am On Dec 07, 2023
nigerians are strange....no other country jubilates that foreighners take over their local production sector....

fee dee fee lied to una that privatization will solve all problems....
now it has become much worser....
Re: P&G To Dissolve Ground Operations In Nigeria, Revert To An Import-only Business by 12inchess: 12:26am On Dec 07, 2023
They were never a real company after all..Like someone said if all your raw materials cannot be accessed here, why set up shop. The labor is cheap. The raw materials has been subsidized for too long.I feel local manufacturers should simply takeover from them. This is why China's policy of keeping raw materials in house is the best. Once you learn from their technology, the you can simply start manufacturing it yourself.
Re: P&G To Dissolve Ground Operations In Nigeria, Revert To An Import-only Business by Daystar7: 12:29am On Dec 07, 2023
tsdarkside:
they only come to nigeria for the dollars....

nothing else....
when we tell una this foreighn companies are doing nigeria no good,una will not listen....


You just displayed stark illiteracy. Shameless

1 Like

Re: P&G To Dissolve Ground Operations In Nigeria, Revert To An Import-only Business by tsdarkside(m): 12:30am On Dec 07, 2023
Daystar7:



You just displayed stark illiteracy. Shameless

noo,they are tellin you themselves that they are dollar based....

soo,read before accusin me....
Re: P&G To Dissolve Ground Operations In Nigeria, Revert To An Import-only Business by tsdarkside(m): 12:39am On Dec 07, 2023
YourGFsnatcher:

I hope all foreingers leave your country and place a sanction on it so that you will go back to Stone age. Failed people

you cant scare us with sanctions no more....

then we do business with only nations that you santioned too....

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