₦airaland Forum

afroxyz:
You are so.much on point. Best quality at best price my left leg.

Na so ooo.
Many times people ignore or fail to see the bigger picture because they are blinded by the short term,unsustainable progress they see in the short run.
If an FDI has to come all the way to set a standard for the retail industry in your country,then that should tell how weak our indigenous retail was.
But thank God Nigeria is a very industrious nation and homegrown retailers are beginning to give these people a run for their money and they are now running away,which is a good sign that signifies progress of the locals.
We need FDIs is complex industry,Power,Construction and some very technical fields,not that someone will come all the way and establish basically a boutique that even the dumbest aboki can do and use that to deplete our hard earned reserves from other sectors we managed to be earning fx from while repatriating profits that should have been in the country in the first place.
Next is the telecoms sector,just walt and see.
We will continue to buy their assets and chase them away in the nearest future.
If you aren't coming here to invest in things we can't do on our own but want to come and compete and possibly crush our indigenous businesses then don't come at all.
I hope some of you are now seeing the benefits of devaluation like I have been saying since.

ojesymsym:
CGTN just carried the news that they are really leaving. Interesting days ahead.
How come no one is including the effect of COVID as part of the reasons they may have, as the last straw that broke the camel's back.

Because Covid is temporary and will end someday and the retail industry will bounce back.
So why would any sane retailer sell off his business because of a temporar problem?
Even clubs and lifestyle inclined businesses that has been shut completely for over 5 months aren't folding up due to covid,so why would retail that was only affected by a negligible percentile fold due to covid?
Now you see why no one talked about the "effects of covid".

maishai:
Then Pray for Good Leaders...............Pray Nigeria Never relinquishes to service its loan Debt to China..................Then We will both understand some fundamentals of Capitalism

Well I don't pray and I'm not a nationalist.
If they seize public assets like NNPC for instance,I will be more than happy so that the naira can crash more for private reasons.
I'm more of a capitalist than a nationalist.
I support fellow indigenous businesses so that my people can be employed which will have ripple effects that will benefit my selfish and capitalist interests.
Not like I am patriotic or anything,no! far from it.

maishai:
The easiest thing is to analyse in Hind-sight........... Please understand at the point of entry, this guys took very hugh risk which our local investors were afraid to take......... Why did any local retailer not morph into the LEVENTIS of old............. Now after our locals have now seen how to swim in the rivers of Shark you now want to chase the Tutor Away..................... Imagine trying to set up a new Bar at a new location, after about three years The Bar starts Booming and You are raking in hugh Cash then the landlord now comes that he now wants to use the property personally, you are evicted then immediately the landlord reopens the Bar in same Location...............Same thing is happening to MTN, DSTV...............................

Well,no mercy in Capitalism.
They would do thesame to us too like they've been doing for ages.
Ordinary to give mehn visa na problem before na to give us opportunity to deplete and crash their currencies and economy with foolish business.
They've debunked the rumour sha but I really wish it was true

einsteine:
Nobody (other than Nigerian policy) stops Nigerian brands from not doing the same. Foreign goods are cheaper and at better quality than Nigerian products. It has become almost stupid to produce in Nigeria as it is more straightforward to import and trade, after all there are Forex subsidies for that. It is not the fault of FDI. Walmart is the third biggest retailer in Brazil. There is nothing wrong in foreign investors investing in retail. Without the PE Firms that pumped in billions of dollars, Nigeria lacked organized retail spaces.

How are Nigerian brands not doing same?
Why do you think they are leaving?Don't tell me you bought thesame sales girl story
You should checkout How good NEXT,SUNDRY,EBEANO and co are doing when it comes to pricing.
Peter Obi is one of the cheapest shop I know in Nigeria for groceries.
Now remember these FDI retailers can't sell as cheap as theur indigenous counterparts cos they have a lot of dollar expenses and profits to be paid in dollars.
Now competition has gotten stiff and they are running away.
So how is that not local brands doing the same?
Why are they running?

einsteine:
Sundry Foods will never become a Fortune 500 company. Nobody is asking you to cry. I am going to assume you are running a business on the scale of ShopRite. What are you doing differently in your billion naira business that you think ShopRite has failed at?

I really don't get the craze for economic nationalism. I want best quality at best price. Whether that is produced by Sundry Foods a Nigerian company, AJ East a Peruvian company or CCH, a Greek company does not matter to me. They all employ Nigerians and profits (which is what these people repatriate) are also repatriated by Nigerian businesses. Are you aware that Dangote is opening a Family Office in New York, dedicating a significant proportion of his wealth (made from Nigeria) to foreign portfolio investments?

You talk about FDI putting pressure on the Naira. How are the foreign reserves built? When FDI comes into Nigeria, the funds go to the CBN and they are credited Naira at official rates, that's the only reason they still go back to the CBN when it's time to send back profits. The Chinese and Lebanese Traders in Nigeria change their funds at black market rates and are also perfectly willing to put pressure on the Naira by buying at black market rates when it's time to send money back to their countries.

You want the best product at the best prices is you being a consumer.That is what consumers do.
Have you thought about the economic impact of having people sell tissues and toilet paper to you and then have to repatriate those profits?
So if I invest $25m as an FDI through CBN and I stay in Nigeria for 20years and repatriate an equivalent of $200m over that timeframe to my country,would you say Nigeria gained from this deal?
Is that not stupidity?
Yes consumers will be happy and feeling irate but what happens to your national wealth?
That is $200m earned from crude oil being wasted on a bullshit retail company being sent back to oyibo land for $25m investment in the name of profit repatriation and then later you will come and complain that Nigeria don't have light.
Where do you want them to get the fx to use to buy the power generating assets from when all of their reserves have almost been depleted by fx repatriation?
Another threat is this nonsense AB-Inbev that came the other day and are already overtaking Nigerian brands.
Make una continue,na all of us dey this shithole.
Dollar go soon reach 5000 with this consumer ideologies,just wait...

Cyberknight:
No serious developing country will go anywhere without FDI.
It's hot money that we need to be careful of, and maybe that's what you mean

No,I meant what I said.
We don't need FDIs to come and be selling tissues and tooth paste to us,we can do that.
I would be crazy to condemn FDIs channelled to the right direction of need in this our peculiar economic environment.
I wouldn't want GE,JB,Chagoury,ABB,Diageo,LVMH,Ricard group etc... and co to leave.
But chewing gum FDIs can pack and go
E still dey remain some and they must go still.
Nigeria capacity for retail is increasing,competition is getting stiff and the naira is falling so they can't keep up with stiff competition from indeginous retailers because they have to exchange their earned naira for fx while they no longer make much naira profit due to neck stiff price wars,they now opt to leave and spray propaganda garbage stories as reason for their leave.
We don't care,pack and go!

einsteine:
She brought her own POS to work.

It is as if some of you are either unaware of how bad Nigerian has gotten or you are just eternal optimists. It is easy to say someone else would buy their shares in the business but many are ignoring the fact that this creates signalling for other foreign investors to avoid the country. Nigeria cannot grow in autarky like many people seem to imply (DStv is leaving, NTA would replace them, ShopRite is leaving, Ebeano would replace them, yada yada).

Market square is gyrating to replace them when they go
Great news.
The craze for FDI on this particular thread I expected a lot of intellect is alarming.
Is it not these same FDIs people that are putting pressure on the naira now because they are trying to repatriate their funds to home countries?
Now imagine if Nigeria could replace these FDIs with indigenous companies by say 50%.
Don't you know overtime naira will strengthen marginally for sheer lack of dollar demand by these FDIs?
I expected more honestly...
Nigeria is not a country that can't do without FDI in an ordinary retail business.
Make them commot abeg,can't wait for sundry foods to become a fortune 500 company.
Shoprite is leaving,shoprite is leaving...make I begin cry abi wetin?

Katier00:
it keeps you at your best all the time

Are you in business to make money or to be at your best?
Why will I want yo give my customers my best for lower profits when I could have been making more with my worst,if competition were to be nonexistent?

maishai:
Staff Theft can never be the reason for their leaving............. Anybody doing business and expecting holy-staffs is not ready for business in nigeria.......

Even in the US or Europe,if you don't guard your business well,staff will pilfer as much as they can and run you down.
Anybody complaining of bad staff is too stupid to run a business and should use that capital for other daft people's investments.
I think and is quite sure shoprite is wanting to leave because of unstable naira which keeps affecting their revenue when repatriating profits and not some daft,staff 500m naira crap story.

Katier00:
Competition is always needed for business to strive

Competition doesn't make a business thrive.
It rather helps the consumers get better services for less cost.
Not good for the business but very good for its customers.
Know the difference.

Akposy:
Is this normal yoghurt or Greek yogurt.


I don't know of any brand within that range for gas over. However, you can get a good electric oven for that price. Kindly check Fouani or LG showrooms

normal.

mabebe1:
Oh oh, I'm in Lagos

Well,not out of reach for me.
I come into that town sometimes.
Will be fun to give you a treat,that's if you care anyways.

mabebe1:
My love for habib blended with fura and peak milk....yummy

Oh yeah?
Where are you though?
It could be your lucky week if you are in PH I guess,lol
Habib galore...

Late night food.
Bowl of Habib sweetened for my stomach problems.
Could be a remedy if you feel ulcer pains late at night when you just don't wanna eat or have appetite for nothing

Breakfast...
Eggs,tea,bread and apple cider to wash down.
Chester's is a digestive aid guys and tastes very good(like sweet white wine) and foams like champagne too.
Very affordable too and comes in multiple flavours to suit whatever taste you like.
When next you go to a store,don't forget to pick a bottle of Chester's too.

21st birthday how na tori olorun

pocohantas:
My first attempt at asun. Went home to see my people and I decided to use them for experiment. I am sure they have missed a baby girl’s cooking.

I’ll also take a lil alcohol to step it down . Na Coco dey teach me bad thing.

What kind of wine?
I'm curious...

Please I no want make anybody cheat me!
I'm about to buy brake pad for my car,2015 toyota corolla.
Them say brake pad 20k.
I lastly buy 8k.them say na original which I really don't care!
So please i go post am here make una give me go ahead before I pay.
I don't want to buy fake for the price of original please.

IVORY2009:
Sweet mouth in pigeon Englisch

Okay I see.
Funny lol

IVORY2009:
Cook in your kitchen and ejekujee'

lol what's ejekuje?
Sounds funny and mischievous at the same time.

Pizza.
Enroute to get champagne...

Akposy:
I'm a proud Gender activist who believes in equity.
I have sisters, nieces, mothers and females friends in my life who I hold in high esteem and will not appreciate an entitled male trying to talk them down.

It's so amusing how most of you come online to call ladies prostitutes. There's no difference between a man who offers money for sex and a lady who receives money for sex...you're both the same thing!

This is food section...post your food pics, recipe and other food talks instead of coming here to disrespect the other gender.

If you had it all figured out, you'd not come here to disrespect ladies

Au revoir

Opinions are cheap,even a dog has one.
If you really want to change the narrative,you should know what to do.
Last response to you men.

Akposy:
You can't post without sexualizing and disrespecting ladies. A very stupid personality of most Nigerian men. You had better change this horrible mentality of yours.

SMH

Male feminist?
He even feels pity for me lol.
Bros focus this energy on your life and don't worry about me,I've got it all figured.
I appreciate it.

Just had a very hefty meal.
Now I can't even breathe
Anyways...
Basmati
Moi-moi
Big fish
And juice...
Currently eating apple,groundnut and smoking in front of my yard.
Funny enough e get one girl weh get that kind nengi yarnsh weh dey come,where I want see energy knack this big meat na tori olorun

Donbrig:
What is not officially recognised by the govt is illegal, but due to the high level of decadence in Nigeria, we often see illegal markets or companies or organisations as legal, because the govt does not question their activities. Have you ever wondered why govt hardly take necessary actions if a market like Balogun should burn down to ashes? Perhaps the govt knows very well that they are not operating officially and anything that is unofficial is illegal in a sane society.

If Lagos Island market or Balogun market or Alaba or computer village burns down completely today,even Buhari will go there personally or send an envoy there to sympathise with market players and look for ways to revamp them.
So what do you mean by the government wouldn't care because they are illegal?
Parallel market is very much legal and is a structured body recognised very well by the government.Maybe you never hear of ABCON before
What they do is legal,however they they also abuse their legalities by engaging in money laundering and currency/economic sabotage by patronising currency smugglers and arbitrators.
This is the only activity the government cracks down on concerning their activities and also destroy unlicensed parallel market players.
This is the case mompha was facing,not that he being a black market currency player is illegal but his BDC was unlicensed.
Make una no dey talk wetin una no know

ojesymsym:
Is balogun market an official market? If no, does that make it illegal?
Not being official does not make a thing illegal.

Great!
I like how you simplify it.
It's like they don't know Bureau de change is also parallel/unofficial.
And we all know CBN use to supply BDCs directly,so where is the illegality in all this?

civilserva:
Devaluation of naira is artificial and most insensitive action by those who should know better.
Why should there be dollar scarcity during total lockdown when economic activities declined or at its lowest?

When you say devaluation of naira is artificial,what do you mean?

AFONJAPIG:
I see tears Rolling from someone eyes in few months from now... Juliet Abrahim and her Afonja boyfriend come to mind... But why these old news papers always like to go with younger lovers... They no see old men like Ned pick ?

Men like ned who have money don't want old women.
They want trophy women so they can enjoy their very tender youth.
You see the drift shey?

Young,jobless and broke as usual.
No wonder he opted for an old cargo he can manipulate and fleece.
We know the game already and this pattern sef don dey cast small small but this useless boys go just wreck this format finish
Abuja gees have been running this for ages but now these lagos boys go cast am now now now...

Tobex4realTobex234:
Emefiele knows nothing and all of these could have been better managed.

What could you have done differently?

Who want pay you 4.5m for a 15 year old mercedes
You've gotta be kidding me.