Daejoyoung's Posts
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Jonraid:My man, l understand you but still you don't get it. No matter how involved they are in the affairs of your nation there are still too few of them compared to you guys, if you have individuals who push and are determined, they would also own chains of businesses too like the lndians. This may not happen overnight after independence but over the years. |
rvp2018:Where did l mention Dangote?? stop yapping nonsense my man, instead of yapping nonsense, you can continue with your advertisment of lndian products and American creams, while l show the many industries you say Nigerians do not have. lt definitely could have been better with us, and we wish we had more responsible Governments, good infrastructure, etc. But the point is that Nigerians are not like you Kenyans who depend on Government for everything. This is why only the Presidents' Company was among the top 5 companies you could present as that of black Kenyans. |
darfay:l tire o, this Naija shithole na dem one die put. |
rvp2018:But Nigerians are still manufacturing, infact we have a higher manufacturing index than Kenya, even during our recession it was still higher than the Kenyan average. l can give you more examples of Nigerian manufacturing, there's almost nothing Nigerians haven't tried, light or no light. |
darfay:The most annoying is that he knows nothing. |
kikuyu1:Oh pulease spare me those tears, l can show you Facebook comments where Kenyans continually describe Nigerians as only crooks. You look down on Tanzanians too. |
rvp2018:At least Jumia is in Kenya, and Konga may expand there soon. But show me the so called sophisticated Kenyan E commerce in West Africa let alone Nigeria. |
rvp2018:So you mean what you were even boasting about is a repackaged American brand? These Kenyans dey fall my hand oh. |
THE WAY FORWARD I still don’t understand why it is convenient for a Ghana-man to feel more comfortable and pleasant with an Indian, Chinese or Lebanese than his own Nigerian brother or neighbor. Contrastingly, when they both live outside Africa in Europe or Americas they see themselves as brothers. Why? because (a Nigerian popular proverb says (when small snakes go out individually, they often meet their untimely death) the white man see any black African as either a Nigerian or a Ghanaian. Therefore, they know if they don’t hold themselves as one they will suffer greatly from their foreign host. There is too much mistrust between the people and leadership of both countries. There is need for more collaboration between these two economies. Nigerians are naturally good at giving. It is a way of life in that country; they are always willing and ready to support any noble cause. You will recall how much money the Glo mobile owner Mike Adenuga spent in the past on promoting Ghanaian football in form of sponsorship. What did he get in return? It was abuse and some unpleasant name-calling. On paper, the two countries can survive independently but in reality it is quite impossible for these two African nations to develop independently of each other. The economics theory of comparative advantage explains that clearly. Comparative advantage stipulates that countries should specialize in a certain class of products for export, but import the rest – even if the country holds an absolute advantage in all products. I think the two countries should forget about their past challenges and differences, particularly those that were not pleasant. Incidentally, those bad memories happened under the military regimes. They did not look at the larger interest of their respective countries when they took those decisions then. They were only demonstrating raw power with little or no sensibility in it. That is in the past, so many years have gone after those horrible days of massive economic challenges. The countries have enjoyed a good run of democratic governance for some time now. That should be a good platform for serious issues jointly affecting the individual countries to be tabled and long-lasting solutions that can improve living standards in these countries to the shame of their detractors, those enemies of progress. I still think that so much investment of Nigerian origin can still be directed towards Ghana. There is excess capital or liquidity availability in that part of the world. Many rich Nigerians are looking for outlets to invest their cheap funds. Unfortunately, there is so much fear and mistrust among this class of people; they are still smarting from what happened to many Nigerian investments in the country many years back. This is where I expect our politicians and policy advisers in Ghana to embark on road show to that country with strong assurances both in action and words to these strategic investors by rekindling their hope and interest in the country’s economy. The issue is no longer about providing a conducive business environment for investment, this is not in doubt. It is the elements of uncertainty, surprise or distrust about which they need some clarity and confidence- building about. Instead of organizing investors’ forum across Europe and Asian countries with little or no success, we can direct such effort and resources to neighboring and friendly nations like Nigeria. In Forbes 2014 edition of dollars billionaires recently released, there are 4 Nigerians on that list of 29 African dollar billionaires. Significantly, Aliko Dangote wealth in that release was put at US$25b. If we are able to cornered two or three of these multi-billionaires to invest in this economy, let’s assume additional US$2billion dollars investment entered into this economy from these sources, you can imagine the kind of economic turnaround that would immediately bring to the nation’s ailing economy immediately. We should create avenue for these business moguls to look towards our direction. Ghana is touted to be a good investment destination; it should not be for some selected nationals or countries. On paper it is not so but actions speaks louder than words. It should not be a case that for Nigerians that “we like your money but we don’t like your face”. We know that Ghanaians are passionate about their politics, government and their nationality. Nigerians on the other hands are very passionate about their family, businesses and economy. These are two contrasting viewpoints. We should look for ways to marry these two conflicting interests of the people and governments of both countries so that they can respect each other’s interest and at the same time leverage on each other’s areas of strong interest to promote economic development and emancipation of our people and the continent as a whole. It should not be a case of competing with each other but that of collaboration and complementing each other’s strength. The bible says in the book of Amos3:3 ‘Can two people walk together without agreeing on the direction?’ Let us take a cue from that biblical question and chat a new course for the two great nations because of posterity. |
NigeriaIsDoomed:HOW MANY NIGERIAN BUSINESS ARE IN GHANA Nigeria topped the list of countries with the largest value of investments registered, whiles China continues its market aggression on the continent, commanding the top position of countries with the highest number of projects registered in the country. The Nigeria business interest in Ghana spread across different sectors of the economy. These include areas like Banking, Insurance, Telecoms, Oil and Gas, Trade and Commerce, Manufacturing, Aviation, ICT, Eateries, Churches and Hospitality businesses. In addition to these sectors we have a huge population of Nigeria Students in Ghana studying in various tertiary institutions across the country. The population of Nigerian students studying in Ghana can conservatively be estimated to be about 5,000, but in actual fact they could be much more than that considering the craving for knowledge in that country. Economic Benefits from Nigerian Businesses. Let me start with the Nigerians studying in Ghana. These students are categorized as foreign students and expectedly their school fees are priced in hard currency. If we estimate that each student pays average of US$3,000 per academic session (many of them pay much higher than that) in terms of inflow to the country, Ghana receives about US$15m yearly in form of school fees and levies from Nigerian students in the country. This does not include amount spent as monthly maintenance, upkeeps and rents which will almost double that same figure of US$15m. In total, the Nigerian student community in Ghana collectively injects about US$40m into this economy annually. Let us look at the banks, In terms of employment generation, if you take the seven Nigerian commercial banks in Ghana today, assuming each of them have an average staff strength of 600 regular staff and many others in support capacity these banks collectively provide decent jobs to more than 5,000 Ghanaians with handsome salaries and emoluments. This is just one of many sectors of the economy where Nigerians are adding unparalleled value to their host nation’s economy. If you go to Telecoms, Nigeria is ably represented by Glo mobile or you look at the manufacturing sector, we have the likes of Dangote Cement, Fine Print Industries, and Coscharis etc. There are multiple Insurance companies, ICT and Aviation and transport companies of Nigerian origin. If each of these companies employs 100 Ghanaians on average, their number of employees put together cannot be anything below 5,000 people. There is no country in Africa not even South Africa that has the kind of investment Nigerians have in Ghana. We can also look at other areas of contribution from Nigeria to Ghana. Let me just remind our readers that as at May 2014, the seven Nigerian banks have a total assets base of Ghc17.1b out of Ghc42.3b assets of the banks in Ghana. This represents 17% of the industry and their shareholders funds stood at Ghc1.2b out of the industry Ghc6.1b almost 20% of the banking sector (source Bank of Ghana). These banks collectively pays huge sum of money to Ghana Revenue authority as corporate taxes every year. This is aside from other taxes like PAYE, WHT, VAT on imported items because of their line of business (software application taxes) e.t.c. One of these banks provided funding to the University of Professional Studies to build some state of the art lecture theatres and halls of residence, which lead to the school being upgraded to a university status. The nice park near the Accra Sports Stadium which used to be in a sorry state at the centre of the town near Osu cemetery was single handedly funded and maintained by this same bank among numerous things Nigerian banks are doing as responsible corporate citizen of Ghana. If you ask any Ghanaian banker who has worked or is still working with any of these Nigerians banks or other companies in Ghana, I am sure they will tell you the value addition they have gained in terms of quality improvement in their knowledge base while working for these companies. The change in mentality, work ethics, the reward system they are enjoying and above all the empowerment and responsibility accounting they have come to learn over this period are unquantifiable additions to the system. Nigerian’s External Reserve is about $39 billion as at March 2014. If there is good understanding and strong economic ties between the two countries, I don’t see why Nigerian government cannot give Ghana between US$1billion to US$2billion as a soft loan for a period of time for the country to come out of its economic predicaments instead of locking the country into those expensive Eurobond transactions that come with its own attendant challenges. We are not exploring the ‘Big Brother Africa’ possibilities enough. We always want to turn to international lenders when you have a brother or a friend that can work out some arrangement for you without anybody knowing. They do that a lot in the banking system. They call it interbank transactions, whereby a bank suffering from temporary liquidity challenge takes some fund from other ‘friendly’ banks to meet its pressing obligations through the overnight market windows or arrangement without any of its customers knowing about it. Proverbs 18:24 says “One who has unreliable friends soon comes to ruin, but there is a friend who sticks closer than a brother’’ (NIV). This is more momentous when one is in time of dire straits. |
rvp2018:You are only deceiving yourself, that was 2014. Note when lnnoson started it was more like coupling, l don't know much about lnnoson now or his case with gtb bank, but the man has grown in his business big time, and now it's more like manufacturing, though of course he still imports parts from China (but even that is to be expected). |
Nowenuse:The Core Northerners have very good sense of business, but we don't know because we look down on them due to the general illiteracy there, if only they would embrace education they would produce a few more Abdul's and Dangote's. |
mtis:l don't have the complete details on lnnoson, Nwoke would help you with that, but he's not even the only one with this kind of business in Nigeria, so l wonder why you guys are so fixated on him alone. |
kikuyu1:rvp2018 didn't prove anything, he was just blabbing as usual with half knowledge. There's nothing fake about lnnoson, his plant is there at Nnewi. |
mtis:So is this assembling or production? because the likes of lnnoson, Proforce, etc all have these plants and yet you insist it's just assembling alone. |
Ladi Delano is a 35-year old Nigerian serial entrepreneur who made his first million as a liquor entrepreneur while living in China. Today, Delano is the co-founder and CEO of Bakrie Delano Africa (BDA) – a $1 billion joint venture with the Bakrie Group of Indonesia. Bakrie Delano Africa stands as the Bakrie Groups’ investment partner in Nigeria. |
Meet the Tryctor: A motorbike-turned-tractor targeting small farmers in Nigeria It was knowledge of this that prompted Nigerian automobile designer Olufemi Odeleye to spend nearly 10 years developing the prototype for a low-cost, multipurpose, mini tractor – created with the Nigerian, and African, small-scale farmer in mind. His invention, dubbed the Tryctor, has been adapted from the traditional motorcycle and caught the attention of the Nigerian government which is currently piloting the solution among farmers. And this year Odeleye and his Tryctor won the Innovation Prize for Africa. PUBLISHED BY KATE DOUGLAS ON 31 MAY 2016 Meet the Tryctor: A motorbike-turned-tractor targeting small farmers in Nigeria Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to print (Opens in new window) Nigerian automobile designer Olufemi Odeleye spend near 10 years developing a low-cost, multipurpose, mini tractor – created with the African small-scale farmer in mind. Nigerian automobile designer Olufemi Odeleye spent nearly 10 years developing a low-cost, multipurpose, mini tractor – created with the African small-scale farmer in mind. While Nigeria’s agriculture sector employs the majority of the population and has a large contribution towards GDP, its true potential has yet to be unlocked. The UN’s International Fund for Agricultural Development (IFAD) estimates that only half of the country’s 71 million hectares of arable land is being cultivated, with irrigation on just 7% of irrigable land. And over the years local food production has not been able to keep up with population growth, resulting in rising food imports and prices. In fact, recent statistics reveal that Nigeria is spending ₦1.3tr ($6.5bn) annually importing food. Part of the challenge is at least 80% of the country’s food is being produced by small-scale and subsistence farmers, who struggle to increase production. Most live in poverty and do not have the finances to improve farming yields through mechanisation. As a result they are forced to cultivate the land by hand and battle to move beyond subsistence. It was knowledge of this that prompted Nigerian automobile designer Olufemi Odeleye to spend nearly 10 years developing the prototype for a low-cost, multipurpose, mini tractor – created with the Nigerian, and African, small-scale farmer in mind. His invention, dubbed the Tryctor, has been adapted from the traditional motorcycle and caught the attention of the Nigerian government which is currently piloting the solution among farmers. And this year Odeleye and his Tryctor are up for the Innovation Prize for Africa. Make do with what you have Odeleye spent years working for the automotive industry in the UK before returning to Nigeria with the hope of using his skills to benefit his home country. “I identified the need to contribute to the number one Millennium Development Goal – to eradicate extreme hunger and poverty. I studied automobile design in the UK and on my return to Nigeria I started looking for ways in which I could contribute.” His grandfather had been a farmer and Odeleye knew that unlocking the country’s agricultural potential could play a key role in eradicating poverty and hunger. Then, in 2004, he got the idea for the Tryctor while sitting in Nigerian traffic and watching hundreds of motorcycles zigzag around vehicles. “It has always been my design philosophy that you should use things you have at your disposal to solve problems. So I saw the motorbikes and I thought I should be able to use them to do something… When I got home I immediately put pen to paper and did some sketches and modified a motorbike and about a month later I made a prototype, which was basically the first of seven prototypes,” he explained. “And that is how I started. I saw that opportunity; it came to me in a light-bulb moment.” The final solution is a three-wheel mini-tractor with tyres suitable for farming and a 30-horsepower engine that can be used as a generator. Alterations to a motorbike’s chassis and gearing system means it operates similarly to a traditional tractor, and it comes with various farming implements – a disc plough, harrow and trailer – which can be attached to improve production, supply markets and ultimate increase revenue. |
rvp2018:Don't delude yourself, Kenyans don't produce or even assemble cars, perhaps you are waiting for foreigners to do it for you first. Nigerians produce everything, from cars to laptops, phones and even tractors. The next man in my story is an example, take a deep breadth and wait for it, l have time for you today. |
Minku, founded in 2011, specializes in clothing and leather goods for men and women. Each Minku item carries subtle cultural codes of Nigerian life. Aso-oke, a fabric woven on hand looms in the founder's home region of South-Western Nigeria, plays protagonist in several of the items: whether re-imagined as a men's hoodie, or lining the interior of the brand's notebooks and leather accessories. Minku design has been referred to by Forbes as African Hermes. |
This is Kunmi Otitoju’s story of working at Goldman Sachs (along with other big corporations around the globe) to following her dream of launching Minku – a boutique fashion startup in Nigeria. |
Just30:The Kenyans have been here making fun of your car industry, Nigerians came to your rescue, and yet you came here to attack us? make una dey get sense nah. |
nwoke39:Note that Dangote only contributed half( 7 out of 14) Billion dollars, Nigerian Banks are also playing a key role in this l believe. |
kikuyu1:Should l continue with my companies? your brothers are crying already, l have so much advertisement to do, l haven't even focused on smart techs, car assembling( Elizade motors, proforce, lnnoson, etc) and of course the glorious textile industry. |
TayserMahiri:Just like your creame is a brand in East Africa, the biscuit is also a West African brand. Don't be a hippocrate, l also posted companies producing creame, detergent, tissues, phones, laptops, cars, smart card, furnitures, cables and wires, automobile parts,etc. l posted stuffs like this too and others,... Kofo Akinkugbe is recognised globally for her entrepreneurial success story and strong business track record. She is founder & CEO of SecureID Nigeria Ltd a market leader in smart card technology and digital security. SecureID is a world-class manufacturing facility with the only smart card production plant in West Africa and one of only six on the continent. This company serves 16 countries across Africa and is fully certified by VISA, Verve and MasterCard. In 2012, Kofo won the Africa Awards for Entrepreneurship Mature Business Award.. lf you want me to continue l'll give you more apart from creame, soap, and biscuits. |
nwoke39:First they come boasting, then when we get ready for them they start crying. |
Banrut Rolls Nigeria Limited -Abuja, the second largest manufacturers of Tissue Paper in Nigeria and neighboring countries. |
TayserMahiri:lf you are tired and you want me to stop tell me, your friend rvp2018 posted body cream as the black Kenyan business ( by black Kenyans not lndians). l told him that was rubbish, and that many countries can produce their body creame, then he said Nigeria produces nothing at all. rvp2018 definitely has no shame and needs to have his head examined sometimes and l'll advise you caution him. Now l know you are pained and l would post the last one for the night and stop. |
gallivant:Mr. Babatope Agbeyo, CEO of Cornfield Transnational Limited, a parent company to Media Concept International and Botosoft Technologies recorded a major milestone through the development of intellectual patented property known as KAPTEK set of mathematical instruments with an in-built scientific calculator. |
gallivant:IO Furniture was founded in 1987 as Interior Options Ltd in response to the inability of local furniture manufacturers to deliver the design and international quality standards required by our very discerning clientele. It was primarily an interior design consultancy service providing interior design services to mostly oil companies in Nigeria but has since entered into furniture manufacturing using cutting edge technology and experienced Italian technical expertise. The company has restructured twice, first in 1997 as we expanded from the oil business to the financial industry, office accommodation and finally large scale residential properties; and again in 2008 when the company went truly international with a world-class manufacturing operation and showroom, and a technical management agreement with a well-established and reputable Italian Furniture Manufacturing company. |
Why Use Cutix Cable? We manufacture cable and wire products of all sizes. We have a well equipped quality control laboratory that gives assurance of quality at all times; Quality Uncompromised |
Cutix Plc started manufacturing at Nnewi in a 1,000m2 facility she rented from Adtec Limited. By 2009, we moved all our machinery to our own factory premises and head office at 17 Osita Onyejianya Street, Umuanuka, Otolo, Nnewi. Production now goes on at the new site, which has about 6,000m2 covered area while the head office complex stands adjacent to the production plant. The new plant under construction covers an area of 5500m2. The company’s water borehole and 1,500KVA generators are in place to serve the company. The company has delivery trucks to serve the distributors spread across Nigeria. There are also sales offices of the company at Nnewi, Aba, Abuja, Kaduna, Lagos and Uyo. [b]We started production with one extrusion line in 1984 and has been in continuous production with the capacity to produce various cable and wire products, and by 1985, we added a second line. By 1986, we added several wire-processing lines to achieve integration par with leading cable makers in Nigeria and elsewhere in the world. All machines were specified, installed and commissioned by members of Cutix staff which is 100% Nigerian as a deliberate policy. We also incorporated as much locally fabricated parts as we could without lowering overall quality and efficiency. Our belief in the value of integration was so strong that during the difficult days of import licensing, 1984 – 1986, the company used the bulk of the licenses obtained to buy machinery for forward and backward integration. In 1992 the company went a step ahead to become the first cable manufacturer to acquire a plastic compounding line. In 1999, the first machine built by staff of Cutix was successfully put in service. Within 2000 to 2007, with a view to expanding our product lines and capacity, Cutix had installed and commissioned a number of machines, which include LBTS, F13, F-Shaw, Armouring Line, and Cabling machine among others. The company believes in continual improvement and for the purposes of expansion, another factory site was developed opposite the present one, and was commissioned in April, 2014.[/b] |
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- the total revenue Jumia make in Nigeria is how much