In helinues word, toh

Blazetrailer:
...this can only be from a stark illiterate

Explain better prof

Ikaeniyan0:
This is not the first time companies will be leaving Nigeria

kettykin:
Most of the multinational companies aside banks and oil companies operating in Nigeria made mouth gaping losses .
I foresaw all this sometime last year and made a thread that Lagos was gone and I was called names .

Lagos eateries are barely making any progress

now you can see the banks and government officials are the problems,where on earth are the banks making their profits from?mars or moon?they doctor their books,give out irrecoverable loans,round tripping of dollars ..how can they say they are making money when their main source of revenues..loans to coporate entities are running at loss .it's only in Nigeria such magic happens ..why won't our naira fall..the CBN management has to step up surveillance if the economy has to be stable start from the banks .

Nigerian economy sha too terrible for business to thrive. Scary

Peakdesign23:
That’s a massive loss. I pray they find balance.

Pray ki.

KillIgbohoN0W:


They will make back their profit serving Agbado & Cassava recipes.

Be serious now isn’t the time for jokes.

JoeyNaza:
What we don't realise is that Nigeria is slowly losing the confidence of foreign investment especially in manufacturing, multiple multinationals have dumped the country in recent months and in 2023, Nigeria have a negative growth in FDI, the first time since 1995. Trade deficit was also negative in Q4 2023. The earlier we control this the better.

Slowly?! If you must know, capital is agnostic

nedu666:



Damn your education is seriously limited. Who told you Cadbury gets all their raw materials from Nigeria. Also if you take a foreign loan @ 400 naira a dollar and the naira rate is now 1300 @ dollar, how is that paper loss or creative accounting. Common sense should tell you it will cost more to pay back the loans. If it is paper loss, then banks reporting massive profits on the back of revaluation of their foreign investment will be termed paper profit. But cbn knows its not paper profit that is why it said banks should not pay dividend from such profit. A bank that buys dollar bonds at 400 naira a dollar, when the bond matures @ 1300 a dollar, is that a real profit or paper profit

Thank you. Some people just sit down and conjure layman beer parlour analysis. They did not even look at how operating Expenditure skyrocketed as per fuel subsidy removal, some would have been forced to seek additional working capital from banks, and other creditors to keep going.
Too bad for staff of these MNC's , if shareholders are not getting paid, that means there would be serious cost cutting measures, downsizing, no profit sharing etc.

ronu oooo!

KillIgbohoN0W:


They will make back their profit serving Agbado & Cassava recipes.

Comrade, com dey go abeg!

Gadafii:
If APC is not stopped, they will take us back to stone age 😂😂😂

abi prehistoric age?

kettykin:
Most of the multinational companies aside banks and oil companies operating in Nigeria made mouth gaping losses .
I foresaw all this sometime last year and made a thread that Lagos was gone and I was called names .

Lagos eateries are barely making any progress

/

People who have never run even a POS outlet as a business will come online to twerk with any little gain by naira against dollars They believe that insult is one of economic indicators

/

Hope you’re not affected

kettykin:


This is not beautiful news at all .

Faiththatworks:
I believe this headline about companies making losses are misleading.
These companies are making massive revenues with marginal increases in expenditure,but when it's time to declare dividend,they bring up this loss abracadabra.
This loss they are basically declaring is from their exposure to foreign debts, these companies secured foreign loans in the cause of doing their business,but now that it's time to repay, the exchange rate has now ballooned.
These companies should be more open on where their losses are coming from and stop this facade that the Nigerian Economy is in massive depression,their losses is not because the Economy is bleeding,but because of their exposure to foreign loans.
God bless Nigeria.....

A loss is a loss

The mad fellow is currently in senegal looking for investors to send to hell

Éclairs and bournvita took backstage.

Faiththatworks:
I believe this headline about companies making losses are misleading.
These companies are making massive revenues with marginal increases in expenditure,but when it's time to declare dividend,they bring up this loss abracadabra.
This loss they are basically declaring is from their exposure to foreign debts, these companies secured foreign loans in the cause of doing their business,but now that it's time to repay, the exchange rate has now ballooned.
These companies should be more open on where their losses are coming from and stop this facade that the Nigerian Economy is in massive depression,their losses is not because the Economy is bleeding,but because of their exposure to foreign loans.
God bless Nigeria.....

You believe.. and that settles it all.

kettykin:
Most of the multinational companies aside banks and oil companies operating in Nigeria made mouth gaping losses .
I foresaw all this sometime last year and made a thread that Lagos was gone and I was called names .

Lagos eateries are barely making any progress

The entire country is fvckedd
Not just lagos

FineUsername:
Some companies go use this FX dodge taxes.

Like Donald Trump, they will use the losses to net off and claim relief against prior year profits by carrying the loss back into prior accounting periods that were profitable hence they will get Corporation Tax relief or refund.

Faiththatworks:
I believe this headline about companies making losses are misleading.
These companies are making massive revenues with marginal increases in expenditure,but when it's time to declare dividend,they bring up this loss abracadabra.
This loss they are basically declaring is from their exposure to foreign debts, these companies secured foreign loans in the cause of doing their business,but now that it's time to repay, the exchange rate has now ballooned.
These companies should be more open on where their losses are coming from and stop this facade that the Nigerian Economy is in massive depression,their losses is not because the Economy is bleeding,but because of their exposure to foreign loans.
God bless Nigeria.....

The only sensible post so far.

When they were fleecing people and making abnormal profits who they complain to? Ghe raou ra heraee

Does anyone probe their returns in Nigeria, looks to me like a neat way to sell more equity to its foreign base,while avoiding paying taxes

Plus is the loss from lack of sales or from dollar exchange losses in their forex value,if their sales and bussiness had always been in Naira and they increased value of goods in Naira which Nigerians bought nevertheless,what really happened

Lastly let's even check to see how much company tax they had been paying hitherto

Nigeria has one of the highest buying population anywhere around,the question should be who is checking the records of the companies declaring losses,our taxes from sales should be enough to run the country if properly harnessed

kettykin:
Most of the multinational companies aside banks and oil companies operating in Nigeria made mouth gaping losses .
I foresaw all this sometime last year and made a thread that Lagos was gone and I was called names .

Lagos eateries are barely making any progress

imagine if a multinational like Cadbury is making losses how will it be for the indigenous companies,any manager that is still operating and paying salary is a super hero because the country Nigeria has declared war on companies and SMes

Dosoq:
Loss my FOOT!

After increasing the prices of all their products, most especially the bournvita chocolate tea, a carton of the small sachet of bournvita chocolate tea was #23500 as at February(as at the last time I bought it),I'm sure it's not less than #24k+ as we speak ,let alone other products.

They have doubled the price of all their goods,so they should stop crying for loss.

this comment is somehow,it is too shallow without perspective,do they increase price arbitrary?is it not the policies of president tinubu that made everything to increase by 70-100% even with their price increase they still posted such loss

2023 was a rough year

Dangote should just swallow them up.

SmartPolician:
Tinubu is about to totally destroy this country.

All major companies are reporting huge losses while others are exiting the country.

These trends are quite unfortunate and disturbing.

but the Nigeria market is so huge that they will be replaced immediately,they took away sunlight soap and baby and me replaced it,if bournvita goes another vita will replace it

Jagaban is working

KillIgbohoN0W:


Source: Nairametrics

That is the benefits you get for supporting incompetency, I know majority of the shareholders are APC and Emilokan supporters, they should go and collect their money from Tinubu.