₦airaland Forum

Reloadedisraelp:
Our people are too greedy here.... Chinese will sell their products for 5000naira our own will be 12000naira... For price sake Nigerians will want this kind of competition but from what the op is pointing ...it's not good for economics wise..... They the Chinese knows they can't do that in sane society,they are only here to exploit our corrupt system.

And what is most annoying is that the Chinese warehouses are located within the same market.

It costs the Ibo guys no additional money to move the goods from the Chinese warehouse to their shops but they will be placing premium profits margins as high as 200% on those goods.

The Chinese also have their own targeted sales margins as they might have gotten a deal with the main supplier to buy a specific quantity to get a specific discount.

If they can't move their goods quick enough to order more from their suppliers in china , they risk losing that discount.

So overall, the greedy Ibo traders are an impedinent to Chinese sales and consumer purchasing power.

They are not in anyway needed .

In today's digital age and era, the brick and mortar lock up shop is already obsolete.

Amazon has replaced most retail outlets in the US with only big stores like Walmart and Costco still barely holding on because they offer a shopping experience which most Americans are addicted to.

Other than that, manufacturers are now selling directly to their customers or through digital middlemen.

Playstation has finally said they will soon scrap selling digital disks and that all their games for the proposed PS6 will have to be bought through direct digital downloads from their sites.

The most annoying thing about this whole saga is that the Ibo guys source these goods from Chinese warehouses located within the market.

They do not pay any extra cost to move their goods from the warehouse to their retail shops within the markets but they will be adding up to 100-200% profit on their goods.

Is that not madness and greed ?

Sheuns:
Fear God at least. Retailers and middlemen are the root cause of inflation?
Haba mana.

Yes because they add cut throat profit margins .

There's a Chinese owned quarry in Abuja that mines limestone chippings.

Do you know that the tipper guys who work independently at the quarry site will collaborate with the scale operator to not fill the truck with the 40 Tonnes capacity load which goes for about 400k. They will arrange with the scale operator to reduce the payload by as much as 10 tonnes.

If they have a consignment contract to supply 10 truck loads, they will be ripping their clients by as much as 100 tonnes which is equivalent to 2 and half truck supply amounting to as much as #1,000,000.

The Chinese found out about this unwholesome practices because they noticed more truck movement into their quarrt but less limestone being hurled from their site.

The Chinese sacked the Nigerian operators and had one of their own mounts the scale operations.

The Chinese are only interested in making sales and if any one in the chain of their operations is undermining sales , the Chinese will find a way to cut them out.

This scenario I wrote here applies to the Ibo traders who get their goods from Chinese warehouses at the market but can't move them fast enough because they put too much profit on top.

The Chinese saw that this was slowing their inventory sales and so cut the Ibos out of the mix and started selling directly.

If I had a distribution company , I will prefer to partner with a retailer who can move my goods and fast as possible so I can order more inventory and so make quicker turnovers

The Ibo traders have become an impedinent to Chinese sales operations and so the Chinese cut them off.

There is nothing wrong with what the Chinese are doing and it is far better for our import based economy that goods are cheaper for the consumer overall.

PulaPower:


They aren’t allowed? By who? Under whose command?

Our Chinese brothers & sisters are very much welcomed. They’re free to open whosales, retailes, cowtail, legtail & any form of tail shops & outlets..

These are the same people who are saying they have come to dominate the retail sector in Lagos and across Nigeria because they know business more than anyone .

They will claim free market economy with their competitive edge is why they are dominating retail.

Now the Chinese have entered the market and they are asking us to join them to chase the Chinese away .

Crase dey worry dem for head.

Start small in building jetties and dockyards to service local fishermen

Build fish processing centres and markets.

Offer soft loans to fishermen to purchase small haulers and trawlers.

Collaborate with the Nigerian Navy, NPF marine division, and Tantita to provide the much needed maritime security .

Positioning Delta state as a fishery hub before the coastal highway is completed will be a game changer as that road will serve as a major artery for fish products to be delivered fresh to Africa's biggest city.

Once you get the fishing sector up and going, the next thing you will see are more investments coming in catering to local fishermen such as boat dockyards . Those dockyards can slowly evolve to handle fabrication to support the oil and shipping industry .

osidion2020:
Jesus christ what sort of hatered possessed your heart. What has peter obi ever done to you.

You guys insult the President and members of his family and cabinet every single day and here you are sporting your hypocritical toga on me.

Shift.

Svoboda:
. The Chinese can do business in Nigeria, that's not in doubt. But they're aren't allowed to open individual retail shops in our markets. They can set up factories, but not get involved in individual retail outlets.

If every state enacts such laws to protect indigenous retailers, you will be the first to cry.

IyfeNamikaze:
A lot of you have not a Single idea what you're talking about. They don't produce the goods, but they take bank loans with double digits interests, pay import duties, pay high taxes and rent shops at exorbitant rates, so all of these will eventually reflect on the prices of their goods.

Then that's not my problem


If the Chinese can source and stock their goods cheaper, that means the Chinese are better at business.

IyfeNamikaze:
Are you even aware that China does not allow foreigners into some certain businesses that's dominated by the Chinese citizens? You're allowing them to do the very thing they won't let you do in their own country, just because you hate a particular tribe.

My friend pack one side.

China does not have any policy that prevents foreigners from retail business.

You too lie.

IyfeNamikaze:
But that's exactly how the USA has kept Apple as the most valuable company in the world. By making sure that there's no competition with apple within the US. Huawei, Xiaomi etc have better phones than iPhone and sell at cheaper rate but they're not allowed to come into the American market and compete with apple 🤷🏽‍♂️.

Are you the ones producing the goods you are extorting Nigerians with your eye gouging pricing ?

You know he is going to do this anytime soon.

The man who said food prices coming down was bad for middlemen hoarders and who sided with fake drug merchants at Onitsha market and condemned NAFDAC doing their statutory work shutting down a section of Onitsha market will soon storm the Lagos Trade fair complex to side with his kinsmen.

MaziObinnaokija:
u supporting IGBO MUST GO

Nobody said Ibo must go


We are saying Chinese must stay

HacheNoire:
At a time, Peter was looking for cheap labour and he got it.

Giringori that admitted to taking advise from lunatics as governor you think wil surround himself with people of sound judgment?

See that ever dirty looking Aisha, that blasphemous Mama Pee and that cultist Randy Pete or whatever and the horde of Ipob posters here supporting Giringori like the OP and tell me , if Giringori no be bad market .

Thief has spoken.

Always trying to catch the tail of progress with his mouth salad rubbish.

Dangote is not your mate, Oga trader.

Ofunaofu:
I have taken some time to research on the loan descriptions as released by the Anambra State Government which they claim PO as Governor signed off and my findings are as follows:

1. The Nigeria Malaria Control Booster Project (MCBP) 2007:

This was financed through a US$180 million IDA credit from the World Bank to the Federal Republic of Nigeria, not a loan independently taken by the Anambra State Government. The World Bank records say the original IDA credit was approved in December 2006 and became effective on May 15, 2007.

Anambra was one of the seven participating states, along with Akwa Ibom, Bauchi, Gombe, Jigawa, Kano and Rivers.

VERDICT: FG was the borrower not Anambra State Government.

2. Fadama III:

This project was a World Bank/IDA-financed project for Nigeria. The World Bank's project documentation identifies the Federal Republic of Nigeria as the borrower, not Anambra State.

The original Fadama III project was approved in 2008. The World Bank records the project period as 2008–2013 and the original IDA financing as US$250 million.

Anambra was one of the states participating in the project. World Bank records specifically identify an Anambra State Fadama III Project, financed through IDA Credit No. 45960.

Therefore, describing the Anambra Fadama III programme simply as "a loan taken by Anambra State Government in 2007" would be misleading. The underlying World Bank borrowing was at the Federal Government level.

VERDICT: FG was the borrower not Anambra State Government

3. Health Systems Development ll (ADD FIN.)

The financial document listing Nigeria's state-level IDA obligations records “Health Systems Development” Anambra State, with a signing date of August 22, 2003, an amount of XDR 4,831,046, and a 0.75% service charge.

The same document separately lists Health System Development Project II (Additional Financing) for Anambra, so the 2009 reference may relate to the additional financing/HSDP II, rather than the original HSDP.

Anambra-specific records confirm that Health System Development Project II was World Bank-assisted, with activities being implemented in the state.

VERDICT: It was an FG project benefiting Anambra State. The Original document was signed in 2003 and 2009 was just an additional financing of the 2003 signed document.

4. The State Education Program Investment Project (SEPIP):

It started in 2013 and included Anambra State. However, the World Bank documents identify the Federal Government of Nigeria as the borrower, not Anambra State Government. The original financing was a US$150 million IDA credit to the Federal Republic of Nigeria, with funds disbursed to Anambra, Bauchi and Ekiti through subsidiary financing agreements.

The World Bank's financing agreement for the original SEPIP is Credit No. 5220-NG, dated April 16, 2013.

VERDICT: FG was the borrower not Anambra State.

5.The Community and Social Development Project (P090644):

This project became effective in February 2009.
The World Bank's project completion report identifies the Federal Government of Nigeria as the borrower of the original IDA financing. The original commitment was SDR 121.5 million (US$200 million equivalent).
Anambra was just one of the participating states.

6:The Nigeria Erosion and Watershed Management Project (NEWMAP):

This project was approved by the World Bank in May 2012 and became effective in September 2013.

The original financing agreement was between the International Development Association (IDA) and the Federal Republic of Nigeria, for US$600 million.

Anambra was one of the participating states and had its own State Project Management Unit (SPMU) implementing the project.

Anambra's project documents explicitly refer to the funds as part of the Federal Government's IDA credit. A 2014 procurement notice says the Federal Government had received the credit.

VERDICT: FG was the borrower not Anambra State Government.

7. The Value Chain Development Programme (VCDP):

Records shows VCDP was approved by IFAD in April 2012, not 2013.
The financing agreement was between the Federal Government of Nigeria (FGN) and IFAD, signed in August 2012.
The programme became effective in October 2013.

The original programme covered Anambra, Benue, Ebonyi, Niger, Ogun and Taraba.
The original financing included an IFAD loan of US$74.4 million, an IFAD grant of US$0.5 million, plus counterpart contributions from the Federal Government, participating states, LGAs and beneficiaries.

IFAD's documentation specifically describes the loan agreement as being between FGN and IFAD.

VERDICT: FG was the borrower not Anambra State Government.

OVERALL VERDICT:

All the project listed by the Soludo led Anambra State claiming that it was financed by loan independently taken by Anambra State Government under Mr. Peter Obi are 100% false and misleading. Verifiable World Bank records shows FG was indeed the borrower while Anambra State under Obi participated and benefited just like some other states.

#Copied

You go explain tire.

Lovit:
Trust Nigerian authorities to take side with foreigners against their own people

Which people ?


People that insult Nigerians and call Nigeria a zoo and have been calling on daddy Drumpf to come and break Nigeria ?

Rest.

safarifarms:
You post too much of fake news so by default anything from you is suspect.

Shatap

airsaylongcome:
Then you have absolutely no idea who the Chinese are, and how they multiply and take over. Let’s have this conversation again in 10 years

I personally welcome our new Chinese overlords .

Any problemo, mii amigos?

airsaylongcome:
Where did I say I’m “de investing”. Many of you assume anyone criticising Yoruba is automatically Igbo. I’m saying the Yoruba anti-Igbo sentiment would, with time, become an anti-Chinese sentiment

No it won't.

Derived001:
Dangote buys crude yes but not from Middle East bro

Crude is priced by international prevailing cost.

Mensamusa:
Seems folks don't have a deep understanding of the implications of what is happening on the long run.
Quite unfortunate, everything is viewed with sentiments and irrelevant bias.

Everytime a critical moment of deciding how to remedy pertinent issue,we use bias to wreck it,then when the consequences manifest in future,we start crying boo hoo
Just like yesterday

Jonathan -lets put an end to subsidy
Opposition-nay

How far ,so far today?

You forget that Ibo import business is what killed the manufacturing sector and has seen to high unemployment all thanks to Alex Ekwenme liberalizing importation just to spite and destroy the industrial base of the SW.

Nefort:
If the Chinese are running all the local businesses in our streets cheaper then what exactly will be the source of livelihoods for Nigerians? Then consider the fact that the money the Chinese will make in Nigeria will be moved to China. I am not really sure about how this would work in the long term.

Don't jubilate yet because you feel you will get things cheap. I don't think you run any business. If you actually run a business that will soon be made cheap by the Chinese I don't think you will be sounding jubilant like this.

I know you as someone who hates Igbos and that is likely the reason why you are quick to jubilate because you saw some Igbo traders complaining.

Abegi, we have immigration service for a reason.

And why are you crying for SW people ?

You should be more focused on de investing from Lagos as threatened by you guys during landmark saga.

At least the Chinese will not hold out on paying their due taxes like you guys .

Mrexcell:
Igbo traders in lagos also reinvest their profits in real estate and other sectors in lagos while those chinese business owners will take most of their profits back to China.

Story

Chinese lean towards manufacturing .

They always diversify just as the Lebanese moved from trading to hospitality , construction and whatnot.

It's majorly Chinese that are investing in the manufacturing sector across same SW and boosting jobs and tax revenues.

They are at all levels a better replacement than you guys .

airsaylongcome:
I laugh at a lot of people who think this is a thread to attack ndigbo that Western Nigeria welcomes Chinese “investors”. It’s only a matter of time before the Chinese overrun Western Nigeria and “own” it. Then Yorubas will start “fighting” Chinese and Chinese will tell them Lagos is “their” own. Go and look at how they have owned Cameroon and several other African countries

Are you not de investing from Lagos again?

Nefort:
It's too early to feel comfortable about this development. Let's watch and see what happens in the next couple of years to come as the Chinese expand their operations further in Lagos and beyond.

That I am looking forward to.

I hope they make Chinese takeout cheaper and open those world famous Chinese massage parlours with happy endings .

China man never caused anyone trouble even in the US there are china town sections in almost every major city.

You are free to go back to your village.

The sanctions are just because SA dragged their masters in Israel to the Hague.

emapeteum:
The guy lacks understanding. In his mind, the union is the government. They said other tribes are lazy while exploiting the same people to enrich themselves. I welcome the Chinese as long as their products are affordable by ordinary Nigerians

Nah that Nzogbu mentality that when they gather together they think their head pass everyone .

Well, prison still go find space for them .

Just know they will soon FAFO over this Chinese take over.

ElevationD:
If they ask you to show your papa house, you no go know. Dey claim Lagos and region wey you no come from.

Frustration don start.

Lmfao!

ElevationD:
If you play violin fall down, let me know, make I send medicine to you. Remember say na we dey sell medicine to save una lives.

Those your fake drug ventures will soon be over.

States are now drafting legislation that will make any retailing of drugs be done by licensed and trained pharmacists registered with the state guild.

Eneka will not be allowed to poison the populace in the name of selling fake drugs.