₦airaland Forum

What about selling in public?

Nicolars:
Nairalanders, make una no vex

Help my solution



How do I go about this quantitative reasoning

Samples:
2+8=10
10+1=11
30+1=31

Exercise
20+1=21
20+1=21
30+1=31
14+1=15
100+20=120
311+1=312
113+2=115
100+13=113
215+13=228

It is the highest number + the smallest

We should not relent and stop to remind and educate them until they get it right

For so long, the textile, apparel and footwear industry played a dominant role in the manufacturing sector of the Nigerian economy. With a record high of over 140 companies, Nigeria witnessed a boom in the textile manufacturing industries in the 1960s to 1970s with companies such as Kaduna Textiles, Kano Textiles, United Nigeria Textiles, Aba Textiles, Texlon Nigeria Limited, First Spinners Limited, amongst others, employing about a million people, contributing about 15 per cent of the manufacturing sector earnings to the GDP of the Nigerian economy and accounted for over 60 per cent of the textile industry capacity in West Africa.

The story however changed for the industry in the 1980s. Following the discovery of oil and the subsequent oil boom, the government became reliant on oil and abandoned agriculture. The neglect of the agricultural sector had an adverse effect on the textile industry. The production of cotton, the basic raw material used for the manufacture of clothes regressed rapidly as its production capacity declined by 50 per cent.

In addition, the economic regression meant that manufacturers could not afford to import sophisticated modern equipment which could have facilitated the production process. Similarly, textile manufacturers and fabric designers who could afford to import raw materials procured the materials at an astronomical cost which had an effect on their business. This meant the textile industry had insufficient and at times, no raw materials to work with.

Also, the trade liberalisation polices adopted in 1986 following the implementation of the Structural Adjustment Programme (SAP), saw the flooding of imported fabrics and finished goods, thereby degenerating the manufacturing capacity of the industry. By the 1990s, the degradation of infrastructure especially the lack of stable electricity supply affected textile manufacturers as they could not keep up with the strains of production and this led to the closure of a number of textile companies with hundreds of workers rendered helpless. By 1998, the industry was operating at a capacity of just 28 per cent.

The abysmal performance of the textile industry and indeed, the entire manufacturing sector is indeed a sad tale. The sector which played a major role in boosting of nation’s economy and development is suddenly a shadow of itself as the country’s manufacturing capacity especially the textile industry is at an all-time low and its poor performance is having a bearing on the Nigerian economy. Despite the fact that oil, Nigeria’s major source of income is in a declining state and its overall contribution to the economy has reduced drastically, the manufacturing sector unfortunately lacks the capacity to provide relief to Nigeria’s ailing economy as it only contributes a paltry seven per cent to the Gross Domestic Product (GDP) of the economy with the textile, apparel and footwear industry contributing about N1.8 billion of that in 2015, according to the National Bureau of Statistics (NBS) report.

However, it has however been proven that the textile industry is indeed a driver of growth and employment globally. For example, the exports of the textile industry in Hungary edged up to 3.2 per cent in 2014 to $1.62 billion from $1.57 billion in 2013. With a strong labour population of over 43, 000 in the textile industry, the involvement of medium-size enterprises in the industry and a robust export of textile products to countries such as Germany, Italy, Austria, France and Romania, a tremendous improvement has been forecasted for Hungary’s economy in 2016.

The influence of the textile industry is bigger in China with more than 100,000 manufacturers employing over 10 million people. The industry is estimated to contribute about 47 percent to the country’s GDP with its value of garment export believed to be around $153.219 billion as at 2013. With its percentage of the global garment market at 38 per cent, China is the world’s largest manufacturer, exporter and consumer of garments. The Chinese textile industry remains competitive due to the continued investment in the domestic industry.

Given the importance of high productivity of the textile industry in boosting economic growth and the standard of living of the people as evident by the examples stated above, and with the glowing success of the country’s fashion designers today as seen in both local and international fashion shows, it is apparent that Nigeria must give priority to the textile industry and indeed, the entire spectrum of the manufacturing industry to improve the fortunes of the Nigerian people and their economy.

The government must provide the enabling environment for the textile manufacturers and fashion designers to thrive. Provision of critical infrastructure such as electricity and good transport system needed by the manufacturers and designers should be made available to help them become truly productive. Also, the recently formulated policy road map for the creation of fashion clusters, the Integrated Textiles and Garment Parks (ITGPS), should be formally adopted by the present government and ensures it implements the policy provisions to the letter.

Government should also provide funding and financial incentives for members of the textile industry as it is done in other countries. Financial institutions of government such as the Bank of Industry, theand Nigeria Export-Import Bank should endeavour to provide funds to both manufacturers and designers as this would help in the long-term to grow the economy.

Finally, there is a need for sustained dialogue by all stakeholders in the country to ensure that they undertake a comprehensive study and solutions on how to modernize, strengthen and get the industry to perform competitively locally and ultimately globally. Only by enacting all these would the Nigerian people and economy truly benefiting from a thriving textile, apparel and footwear sub-sectors of the manufacturing industry.

Ademiluyi, founder and CEO, Africa Fashion Week Nigeria & London, writes from Lagos.

Follow us on twitter @thecableng

Copyright 2016 TheCable. Permission to use quotations from this article is granted subject to appropriate credit being given to www.thecable.ng as the source.

https://www.thecable.ng/nigeria-can-benefit-textile-manufacturing-revival

Despite the Central Bank of Nigeria yet to roll out the details of the new flexible exchange rate policy, which is a monetary system that allows the exchange rate to be determined by supply and demand, the nation’s currency naira has switched to N285 to a dollar at the interbank market, The Guardian reports.

The policy, which throws naira into open market, paves way for one to walk into the bank and ask to buy forex at the market rate, hence, putting pressure on black market and Bureau de Change operators.

Following the new flexible exchange policy to be adopted by the CBN, the naira has switched to N285 to a dollar at the interbank market.
The new policy also means that banks and Bureau De Change (BDC) operators will have to source forex autonomously and sell according to market dynamics.

The interbank rate had run nearly at par with the official at N199 per dollar and N197 per dollar respectively before the pronouncements on the new foreign exchange measure.

The new rate represents about 43.2% increase from N199 to the dollar it previously traded, which according to analysts suggests that the market is gradually adjusting itself to the new direction, although the details are yet to be unfolded.

However, a look on the apex bank official website, www.cbn.gov.ng has shown the naira is still pegged at N197.

Meanwhile, President Muhammadu Buhari has given the CBN the go-ahead to introduce flexibility in the naira exchange rate.

Speaking in an interview on Nigeria Television Authority (NTA), Garba Shehu, the senior special assistant on media and publicity to President Buhari said: “The president is opposed to devaluing the naira, he has said so repeatedly.

“He has given them leeway to introduce what he has called ‘flexibility in managing’ the currency’s value.”

Buhari said at the weekend that he supported a stable currency, though he would keep “a close look at how recent measures affect the naira and the economy.”

More details later…


https://www.naij.com/845128-breaking-naira-crashes-n2851-interbank-market.html?pk_campaign=ush

The thing tire me o

jimi4us:
Buhari sef, export to where? All the almajiris and the other side don see rice chop?

Good outlook. The wailers are not happy.

Firefire:
Chai, dearisgod oooo


49 Sitting 99 Standing Suffering & Smiling.

The benefit was eroded by the exchange rate of #295 in Nigeria. This economy has been killed since. Not today!

ayzTIGER:
hey young man! whats wrong with you

how do you know that he is young?

I guess the OP was once a class captain. What a perfect illustrations.

Sometime you feel like I don die. When you report big boys.

Yobo

Good development. But does he need to announce on Facebook? God help us.

Thank God for you jare. Pro-active approach to terrorism.

Naija is also broke na

There is no way this can be implemented in full. Nigeria prefer lying to truth.[color=#990000][/color]

NICE WRITE-UP. WETIN FRSC DEY DO? THEY ARE INCOMPETENT.

May Allah destroy them.

This better pass na. More money.

Systematically. Naira devalued! But it is better sha. It is expected to reduce black market price. Hope it will work.

THE MOST UNSTABLE NETWORK AND SERVICE PROVIDER WITH FAKE PLANS

Simply NO

Den get ego problem. Na over sabi go kill them

They should rather give speed checker to FRSC and monitor driving speed on high way. This speed limiter go cause Gobe.

Congratz.

Na lie. No be ur house be did. Your floor tile change? Abi or tile also change follow tomato.

marshborn:
drastic times call for drastic changes.

Agoro master

These people should let us know where we are going once and for all.

They are tackling different security challenge.

Fulani attack in the bush

Fiii dii fiiiiiii

Rubbish

The Federal Executive Council has approved a proposal for Dangote Group to construct Lokoja-Obajana-Ilorin Road in return, Dangote will hold back 30 percent of his company’s income tax for some years.



‎The Minister of Power, Works and Housing, Mr Babatunde Fashola, disclosed this to State House correspondents at the end of the FEC meeting presided over by President Muhammadu Buhari.

The Minister said the purpose is to drive infrastructural development in the country.

According to the Minister, the proposal by one of the subsidiaries of Dangote Group, a construction company, for the construction of a section of Lokoja-Obajana-Kabba-Ilorin, specifically the section between Obajana-Kabba Road using cement, is a demonstration of how the government will continue to build going forward in order to reduce maintenance on the roads in exchange for some tax remissions.

http://www.channelstv.com/2016/05/18/dangote-to-build-obajana-kabba-road-in-exchange-of-companys-30-income-tax/