tctrills:



I don't think you know how the economy works.
Question for you, which country has the highest foreign investment? Answer is the USA

No doubt. But what are the conditions under which foreign companies operate in the US? The US does not lay out the red carpet for foreign companies like they do in Nigeria ... neither can they just pack up and leave overnight. What we refer to as foreign investment is almost always foreign exploitation. Question to you ... how many Free Zones in the US?

Originalsly:


No doubt. But what are the conditions under which foreign companies operate in the US? The US does not lay out the red carpet for foreign companies like they do in Nigeria ... neither can they just pack up and leave overnight. What we refer to as foreign investment is almost always foreign exploitation. Question to you ... how many Free Zones in the US?

Again, you are wrong. The US is always top 5 in the ease of doing business and Nigeria is number one hundred and something in the ease of doing business.
The US actually rolls out the carpet. They do everything for businesses to succeed.
Also, the US does not need a free trade zone. It's already a super attractive place for businesses and talents.
Again, I disagree with you when you talk about foreign exploitation. Yes there are always going to be bad actors but most foreign businesses in Nigeria are adding value to the economy and it's not as if your local businesses are any less exploitative.
.

Ofodirinwa:
Africans are clowns.

You will continue courting 'FOREIGN INVESTMENT' as if it is a good thing. You will not ask yourself what is good about it.
Ok it 'creates jobs', but the minute one kpim happens, they pack up and leave. Imagine creating useless jobs that disappear when the economy is bad. Mind you, when the economy is bad is when you need jobs. So now you have a situation where when an economic problem is supposed to be a 2, it immediately becomes a 10 because you're depending on people who are ready to run when any sign of stress appears.

Please. Let them leave, and let us stop trying to pretend that 'multinationals' are worthwhile assets to ANY economy.

Please delete this, it shows you are too shallow

MadamExcellency:


Go and google how to pilot aircraft and borrow a private jet to take your family on vacation to the Caribbean.

Why don't you google how to drill oil and gas and build a private refinery in your village?

and what’s technically difficult to fly an airplane, fyi pilots engage autopilot while flying which is a single button.

BigBlackPreek:
Port Harcourt that use to house many multinational corporations including oil companies and oil servicing companies have become a shadow of itself in terms of job opportunities SMH

Shut up there!!! The country is flowing with milk and honey. Tilumbu till 2050.

dangoteinlaw:
and what’s technically difficult to fly an airplane, fyi pilots engage autopilot while flying which is a single button.

Another shallow mind

BigBlackPreek:
Port Harcourt that use to house many multinational corporations including oil companies and oil servicing companies have become a shadow of itself in terms of job opportunities SMH

Portharcourt is already finished!! I grew up in Portharcourt as a kid. I still remember when I use to visit my late dad who worked at Michelin in Trans Amadi in the early 90s. It was amazing seeing all the companies in that location then. I had to leave Nigeria because nothing was working anymore.

No worries! Jagaban will open agbado banks and agbero companies all over the country! Jagaban will turn everywhere to Lagus

Ofodirinwa:


Bro you sound like 1972. What is technical transfer in 2023? I can google how to make a nuclear bomb, refinery, etc and not only will I have a full instructions, I will find 100 videos of a person showing me step by step. I can contact an expert, pay them and have them teach me over zoom. Or do you think that Shell being in Bonny has not made that average Bonny person knowledgable on how refineries are built and work? What do you think education is for anyways? lol

You are reached the limit of your critical thinking and now you're insulting the guy at the other end of your dead end cage. What is even stupid about what you're saying is when something technical needs to be done, 'foreign investors' bring their kins men to do it. Keep believing in dead IMF propaganda without logic

You sound so daft and blinded by propaganda. You want to build a refinery over zoom Abi?....
Ur likes are the type that will gladly walk into fire because of tribalism.
I don't know the right words to discribe you, but u are living in a delusional world. The earlier you wake up the better for you and anyone that looks up to you

Brendaniel:


Oga keep supporting wicked and nonsense governments like Buhari and Tinubu's own and then come and keep complaining .........

Do you people ever learn?

Yeye Obi

Brendaniel:


Oga keep supporting wicked and nonsense governments like Buhari and Tinubu's own and then come and keep complaining .........

Do you people ever learn?

Yeye Obi.

JagabanB:

The Dangote u are mentioning are too big, there are so many SMEs that wants to go big, instead of these foIks to advocate and clamour for investments in the teeming youth population by encouraging entrepreneurs, they are móàning about foreign companies.
I always appreciate foreign companies foIding up, I am looking forward to when MTN wiII foId up but trust me it will be used as a poIitical tool when it happens.
Nigerîàns prefer politics than societal growth.
Móàning about those foreign companies is not because they are interested in growth, it's because they want to use it as a yardstick to say the government is faiIing and hide behind the pretence of wanting growth, if they really want growth, clamouring for support for local companies should be at the top of our priority.

You people keep contradicting yourselves. When Tinubu traveled abroad to attract foreign investment from Arabia and Europe, were all of you not whining about how he's able to attract foreign investments and bring development to the country?

Now you suddenly turn your back against foreign investment because instead of the foreign investors to come, they are leaving.

I can tell 💯 that your comments are politically motivated. You shift the blame away from the failed government economic policies to companies that basically exists to render goods and services for profit making. Or don't you know that businesses exist to make profit? You talk of dangote, do you know the number of policies that were made to favour dangote group? He solely owns license to import some products. Not even any other indigenous company owns it. Dangote rolls with the policy makers in Nigeria.

I know a handful of indigenous investors who packed up between 2021 till date. These people practically relocated abroad to start something else. Some of them are still owing banks loans. Where do you want them to start from.
One of them that I know personally had to take loan to pay salaries for some months because he had compassion on his staffs and he hoped that thing will change soon. But alas, the story is getting worse.

He said one thing that day: "We are not begging government to help us with funds or anything, just make a business conducive environment for us and see if Nigerians won't flourish".

So summarily, if policies favour your business, you'll stay and make profit. If the policies will cause you to loose all your investment, you move when you still can or divest. That is how business works.

Business isn't community service.

It clearly shows PDP still by far better than APC in government. APC has no strategy and their party members are just as clueless as their representatives.


This is what we get when the youths are gullible.

We deserve every bit of this mess.

Yes, the economy is bad but What’s up with Nigerians crying blood about these MNC’s leaving? These corporate devils will come to your country with their financial and political power, and they will unsurp local players…make huge profits in your local currency convert it to dollars and repatriate all of it to their country without much corporate social services for the locals. Western MNCs are really overrated and them leaving is actually their loss. As they are leaving, the Asians are coming in their numbers and also more breathing space for our indigenous players in the industry.

LOVEALAIGBO:


I think multinationals have their place in a developing/3rd-World economy such as ours! They bring in technology, training, adherence to health and safety in the workplace and better staff welfare! All they ask for is a responsive and responsible gov’t in the country they operate in….as well as predictable economic metrics they can use to plan ahead and not incur losses that wipe out any little profit they make! This is where Nigeria is lacking!

Definitely! Multinationals invest heavily in the most important factor of production: HUMAN CAPITAL. They train our people. They furnish much needed expertise. We don't promise them a favourable environment, so blue chip companies typically avoid us. It's our loss.

Ofodirinwa:
Africans are clowns.

You will continue courting 'FOREIGN INVESTMENT' as if it is a good thing. You will not ask yourself what is good about it.
Ok it 'creates jobs', but the minute one kpim happens, they pack up and leave. Imagine creating useless jobs that disappear when the economy is bad. Mind you, when the economy is bad is when you need jobs. So now you have a situation where when an economic problem is supposed to be a 2, it immediately becomes a 10 because you're depending on people who are ready to run when any sign of stress appears.

Please. Let them leave, and let us stop trying to pretend that 'multinationals' are worthwhile assets to ANY economy.

What is bad about foreign investment? Do you want foreign firms to stay and lose money because they love Nigeria? Businesses are meant to make profit and are not set up for show or sentimental reasons. Many countries grow their economy through their ingenious efforts and foreign investments. You're saying "let them leave",the same reason why they can't be profitable is the same reason why a Nigerian business will also fail. Poor infrastructure,poor macroeconomic policies and you want them to stay because of "love"? Even Dangote,Elumelu will not keep quiet if his firms start taking hits and running at a loss. Business is business o. Profit is the main motivation.

tctrills:


Again, you are wrong. The US is always top 5 in the ease of doing business and Nigeria is number one hundred and something in the ease of doing business.
The US actually rolls out the carpet. They do everything for businesses to succeed.
Also, the US does not need a free trade zone. It's already a super attractive place for businesses and talents.
Again, I disagree with you when you talk about foreign exploitation. Yes there are always going to be bad actors but most foreign businesses in Nigeria are adding value to the economy and it's not as if your local businesses are any less exploitative.
.

The US does not roll out the red carpet for foreign businesses.... Nigeria does. Ease of doing business is a different topic. Free Trade Zones do not abide by the laws of the host country ... and always set up in impoverished countries for the exploitation of cheap labour. If a foreign company is mining cobalt .... employing a few hundred unskilled laborers... having them work long hours at below minimum wage ... abusing them ... making US100M per year profit but giving $1 M to the country .... is this really adding value to the economy? ... or exploitation? Depends on how you look at it.... if anyone or the economy gains anything ... no matter how small ... one can consider it beneficial to the economy... exploitation will never exist.

Ofodirinwa:


Bro you sound like 1972. What is technical transfer in 2023? I can google how to make a nuclear bomb, refinery, etc and not only will I have a full instructions, I will find 100 videos of a person showing me step by step. I can contact an expert, pay them and have them teach me over zoom. Or do you think that Shell being in Bonny has not made that average Bonny person knowledgable on how refineries are built and work? What do you think education is for anyways? lol

You are reached the limit of your critical thinking and now you're insulting the guy at the other end of your dead end cage. What is even stupid about what you're saying is when something technical needs to be done, 'foreign investors' bring their kins men to do it. Keep believing in dead IMF propaganda without logic

Abeg, help America google how to land spaceship to the moon. They have not been able to do that after their fall-out with Russia.

SSpeter:
Another shallow mind

this is 2024 wake up bro. There are games that could even teach u to fly

dangoteinlaw:
And what’s technically difficult to fly an aeroplane, fyi pilots engage autopilot while flying which is a single button.

Are you the one who developed and automated the system? Do you know how it works except for pressing a button like a dumb operator?

Originalsly:


The US does not roll out the red carpet for foreign businesses.... Nigeria does. Ease of doing business is a different topic. Free Trade Zones do not abide by the laws of the host country ... and always set up in impoverished countries for the exploitation of cheap labour. If a foreign company is mining cobalt .... employing a few hundred unskilled laborers... having them work long hours at below minimum wage ... abusing them ... making US100M per year profit but giving $1 M to the country .... is this really adding value to the economy? ... or exploitation? Depends on how you look at it.... if anyone or the economy gains anything ... no matter how small ... one can consider it beneficial to the economy... exploitation will never exist.

Ease of doing business is everything. Rolling out the carpet for a business simply means giving the business all it needs to succeed. Please explain how this is any different from ease of doing business?

Free trade zones are in China, Canada, Italy Turkey, Israel and Japan to name a few. It's not only in poor counties. And they are set up to spur development. We have seen it work wonders in China and India.

Lete use you Cobalt example.
If foreign companies are employing locals and paying them just $1, then you can be sure that local companies are paying much less for the same service. In Africa, foreign companies on the average pay much more that local businesses.

Let's compare two companies; Dangote and Nestle.
Dangote is by far the biggest company on the NSE but Nestle still pays higher wages to its workers because of its foreign connection.

Ofodirinwa:
Africans are clowns.

You will continue courting 'FOREIGN INVESTMENT' as if it is a good thing. You will not ask yourself what is good about it.
Ok it 'creates jobs', but the minute one kpim happens, they pack up and leave. Imagine creating useless jobs that disappear when the economy is bad. Mind you, when the economy is bad is when you need jobs. So now you have a situation where when an economic problem is supposed to be a 2, it immediately becomes a 10 because you're depending on people who are ready to run when any sign of stress appears.

Please. Let them leave, and let us stop trying to pretend that 'multinationals' are worthwhile assets to ANY economy.

Can we all be objective ? I'm sure if this happened when GEJ was in power, I bet you the whole country will come for him. That's by the way.

Every country needs foreign investors. They help the economy.
Do you think USA do not have foreign investors ?
Do you think Russia, China, Germany, France etc don't have foreign investors?
Or do you think companies like Mercedes Benz, Toyota, Porsche, Honda, HP, GE, Mersk etc only have investments in their parents companies? FYI, Toyota has offices in USA and Europe as well. Same with Benz which is a German country.
Every country needs foreign investors.
WHen an economy is failing, just admit it. It's not everything that should be politics.

Originalsly:


The US does not roll out the red carpet for foreign businesses.... Nigeria does. Ease of doing business is a different topic. Free Trade Zones do not abide by the laws of the host country ... and always set up in impoverished countries for the exploitation of cheap labour. If a foreign company is mining cobalt .... employing a few hundred unskilled laborers... having them work long hours at below minimum wage ... abusing them ... making US100M per year profit but giving $1 M to the country .... is this really adding value to the economy? ... or exploitation? Depends on how you look at it.... if anyone or the economy gains anything ... no matter how small ... one can consider it beneficial to the economy... exploitation will never exist.

WHen you talk about exploitation, you should mention China. They are the number one in cheap labour.
Secondly, our Government should make laws that discourage exploitation. I don't see how an In.dia.n or Chinco person will oppress Nigerians in our own country. That's bs.

More companies will leave if Nigeria government refuses to do the right thing

vislabraye:


WHen you talk about exploitation, you should mention China. They are the number one in cheap labour.
Secondly, our Government should make laws that discourage exploitation. I don't see how an In.dia.n or Chinco person will oppress Nigerians in our own country. That's bs.

It's for the government to allow or to stop the exploitation of its resources ... including its human resources. Nigeria allows that ... turns a blind eye to it. Which country can we see soldiers serving as body guards to private foreign nationals? The is more than bs.

tctrills:


Ease of doing business is everything. Rolling out the carpet for a business simply means giving the business all it needs to succeed. Please explain how this is any different from ease of doing business?

Foreign business.... is not the same as local business. Why talk about any business when it is about foreign businesses?
Rolling out the red carpet means bending backwards .... going beyond normal practices to make it verrry easy for the foreign business to operate and make profit. The FG will provide infrastructure.... give tax free breaks for yearsss .... duty free concessions on imported equipment and reduced tariffs on goods imported etc..... these it will not do for a local business. The US does not do this... it tells the company what it needs to provide ... conditions under which it can operate in the US and they have to adhere to these conditions or face severe penalties. Ease of business .... things that need to be done can be done easily in the US while in Nigeria... nothing is straightforward... you need to have connections... you need to pay bribes.... no Ease of business in Nigeria.

ambale:


I'm also in business, omo it has not been easy at all

Big ups to all businesses still trying to hold out

God will continue to make way for them

cornelman:


You people keep contradicting yourselves. When Tinubu traveled abroad to attract foreign investment from Arabia and Europe, were all of you not whining about how he's able to attract foreign investments and bring development to the country?

Now you suddenly turn your back against foreign investment because instead of the foreign investors to come, they are leaving.

I can tell 💯 that your comments are politically motivated. You shift the blame away from the failed government economic policies to companies that basically exists to render goods and services for profit making. Or don't you know that businesses exist to make profit? You talk of dangote, do you know the number of policies that were made to favour dangote group? He solely owns license to import some products. Not even any other indigenous company owns it. Dangote rolls with the policy makers in Nigeria.

I know a handful of indigenous investors who packed up between 2021 till date. These people practically relocated abroad to start something else. Some of them are still owing banks loans. Where do you want them to start from.
One of them that I know personally had to take loan to pay salaries for some months because he had compassion on his staffs and he hoped that thing will change soon. But alas, the story is getting worse.

He said one thing that day: "We are not begging government to help us with funds or anything, just make a business conducive environment for us and see if Nigerians won't flourish".

So summarily, if policies favour your business, you'll stay and make profit. If the policies will cause you to loose all your investment, you move when you still can or divest. That is how business works.

Business isn't community service.

First and foremost, u can't point to a post where u have seen me celebrating Tinubu for bringing in foreign investors, I for one have never appreciated foreign investors when we have capable hands.
Rather it's u people who criticizèd him for looking for foreign investors saying it's unnecessary yet u çry about foreign investors leaving because it pIays to ur political yearnings, ur repIy is poIiticaIIy motivated.
I have always been on about how we should insist on every government from FG to state government to make policies that creates favorable environment for businesses to thrive, this is what I have always been on about since I can remember, so where did u see me celebrating Tinubu for bringing in foreign investors?
Can u give a list of those policies that were made to solely favour Dangote and those things he is solely licensed to import and how others were not granted same license even when they applied?

and....??

money dey nigeria....others will take over....
other african countries could even take over soon too....

no need to wait for western companies....

Originalsly:


Foreign business.... is not the same as local business. Why talk about any business when it is about foreign businesses?
Rolling out the red carpet means bending backwards .... going beyond normal practices to make it verrry easy for the foreign business to operate and make profit. The FG will provide infrastructure.... give tax free breaks for yearsss .... duty free concessions on imported equipment and reduced tariffs on goods imported etc..... these it will not do for a local business. The US does not do this... it tells the company what it needs to provide ... conditions under which it can operate in the US and they have to adhere to these conditions or face severe penalties. Ease of business .... things that need to be done can be done easily in the US while in Nigeria... nothing is straightforward... you need to have connections... you need to pay bribes.... no Ease of business in Nigeria.

First, if we are really bending over backwards as you say, businesses would be flooding in and not running away.
Let me give you a better definition of bending over backwards for businesses and then I will ask you, if you are a business man, which of these business climates would you prefer.
Bending over backwards means making it easy for businesses to incorporate and have all the needed licenses.
It means building the infrastructure that grow businesses.
It means having policies that give small businesses a little chance to disrupt.
It means funding universities and giving them independence to innovate.
It means government not being able to close down any business just for the fun of it.
It means frowning upon corruption so that businesses do not invest much of their resources on bribes.
This is what it means to bend over backwards for businesses and this is why businesses don't choose Africa.
Still on topic, Nigeria continues to bend over backwards for Dangote more than any foreign business.
Again, having free trade zones is to build your own businesses much more that foreign companies. Please ask the Chinese if you disagree.