₦airaland Forum

Let me reiterate this here. If your plan is to be wealthy in life, like very wealthy, then you have nothing to do with japa. There's nowhere in the world to accumulate wealth like Nigeria because we're an emerging economy with an enormous population. All you have to do is to be able to use your brain, think of something useful to create, be serious and diligent, and watch how you amass wealth.
Think about it, almost everything a society can need has been created in the developed nations, in every sector, so how can anyone think they can penetrate such an economy and make plenty of money? No way.
I understand the fact that things aren't as they should be currently, we have so many unfortunate people managing the affairs of the country. But trust me, it's not going to be like this forever, the big players know this, you should too.

Nigeria’s large and growing population is impossible for business to ignore and a recent exodus from the West African state won’t last, South African billionaire Christo Wiese said in an interview on Bloomberg TV.

“How do you ignore an economy like this?” said the former chairman of Shoprite Holdings Ltd., the continent’s largest grocer which left Nigeria in 2021.

“Sooner or later the big players will enter again,” the billionaire declared.

In December Procter & Gamble Co. also ditched Nigeria, with at least three other global conglomerates in recent months announcing they are exiting Africa’s most populous nation, and second-biggest economy.

Many African countries, like Nigeria, developed as single-commodity economies which has meant that when the price of that product falls, the currency and consumer spending take a hit, making it difficult for foreign investors to get a return.

“Most foreign investors, including South African investors, I think have adopted an attitude when it comes to Nigeria that it’s too early,” Wiese said. “We’ve got to wait for things to settle, for the economy to develop more and then for governments that adopt the correct policies.”

The entry of several global firms into Nigeria was heralded with fanfare.
For example as Nigeria’s vice president cut the ribbon on Procter & Gamble Co.’s diaper production line in 2017, the $300 million facility near Lagos was hailed as a symbol of the country’s economic ambitions. In December, P&G said it was leaving the West African state.

The US consumer goods giant is not alone. In recent months at least three other global conglomerates have announced they are exiting Africa’s most populous nation, and second biggest economy. Among them GSK Plc, Bayer AG and Sanofi SA. Last year Unilever Plc cut some of the products it was manufacturing in the country. Nestle SA has posted losses from its operations.

At the heart of the exodus is a scarcity of the dollars international businesses need to repatriate earnings. The central bank has devalued the naira twice in the past eight months and is still struggling to clear a backlog of demand for greenbacks companies require to pay debts and import raw materials. A near complete absence of a reliable electricity supply and congestion at Nigeria’s ports are compounding the malaise.

“It’s news because it’s P&G. It’s news because it’s GSK. It’s news because they have been in the country for a long time — but there are others that have died quietly,” Segun Ajayi-Kadir, director general of The Manufacturers Association of Nigeria advocacy group said on local television after the P&G announcement. “If the current situation doesn’t improve, certainly we’ll have more closures.”

Some of the world’s largest oil reserves, ample fertile land and a rapidly growing population should have created a lucrative market for consumer goods producers following the restoration of democracy in 1999. Instead policy missteps, corruption and an over-reliance on oil fueled dysfunction in the economy. The middle class didn’t expand as much as expected.

The implications for Nigeria are hard to ignore. Its oil-dependent, $394 billion economy is already hobbled by high levels of imports. The corporate exits — $187 million in investment left the country in 2022 compared with an inflow of almost $9 billion in 2011 — will only exacerbate pressure on the naira, which has depreciated 86% over the last eight years, and deal a further blow to long-standing diversification efforts.

SOURCE: https://businessday.ng/news/article/business-exodus-from-nigeria-wont-last-south-african-billionaire-wiese-says/

Fergie001
Mynd44

ParagonPrick:
You are the frustrated person here, because I didn't even quote you before you carry your miserable legs into my mentions, it's obvious you are tired of life and hungry, I'll recommend a bottle of sniper but obviously you don't have money to even purchase it, so it's better you continue living the remaining years of your pathetic existence in infinite penury , as death will be too good for you.

Lol
Continue crying, I'm really enjoying your tears.

ParagonPrick:
It's obvious you still eat mama thank you at home, baring your dirty teeth like a maad man just released from a psych ward. Take a good look at your miserable existence Mr smart economist

Lmao
I'm not the cause of whatever misfortune you might be experiencing, so take a chill pill bro.

ParagonPrick:
You are unfortunate to be honest. See the kind of zombie am sharing oxygen with

No he's not a zombie, you're the dumb one here because you don't understand the basic principle of economics. Next time, kindly shush when the smart one's are talking ok!

Hello and good day, I am looking for those that sell Fiverr reviews. If you are one, kindly comment with your contact please.

JohnAOne:
EXCELLENT!

The South West leads again...

Now what we need is proper training on infrastructure maintenance and security.

God continue to bless Lagos

God bless YORUBALAND.

God bless Nigeria.

Amen!

The proper training on maintenance and security should actually come first and not last. I don't think that should be so difficult to understand.
For example, can you buy a car without knowing how to drive? No nah.

As it should be!

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You use escrow?

zebszebs:
Investigation? Zero.
Emergency services? Zero.
Forensic? Zero.
Basic Amenities? Zero.
Healthcare? Zero.
Power supply? Zero.

Suddenly the governor in less than 2 hours, knows the cause of the explosion.

Were security officials aware before time that illegal miners were residing in that location?

The speed at which the government came out to state the cause of the explosion, sounds strange and smells of a coverup.

Oyo is a backward state, where electric power is supplied for only 30 minutes every 4 days, populated with cheap-looking, Ankara wearing semi illiterates, driving like crazed demons in Tin-sized, toy cars called Micra's.

Fc*uk that state.

Your attempt to disparage an entire state for the sake of appearing woke is misguided, what you are is a bloody fool! If we should ask of your state now, your papa no go fit talk am!

Hugose:
And you still attend church and pray very hard against these same so called spiritual attacks.

There is no doubt Africa still lives in the dark ages and truth be told, I have learned that it's way easier for them to harm anyone who constantly lives in denial of their existence

Pray against spiritual attack? Lol! I'm beyond that, sorry.
Liberation lies in understanding it's a mental game, stop enriching the so called men of God in the name of fighting what's not there.
But like i said earlier, you're free to maintain your beliefs. Slalom!!

It's disheartening that in this modern era, some still believe in the notion of spiritual attacks from fellow humans. Such beliefs contribute to perpetuating stereotypes about Africa being backward. Let's strive for a more enlightened perspective and embrace progress for God sake!!!
Anyways what do i know, y'all can continue wallowing in your ignorance.

adigun27:
Old news if Mr Governor no do that Betty and Jide want to make the governor unpopular so that there favorite can win April primary and they won't be probe them, nothing will change feb for Aketi burial so after burial we would dissolve cabinet and the Governor can work and ondo state people can vote him for second term

What are you saying?

Ayinlaak:
More money flowing in...

Where are you located?

Y'all should please stop already! Making it look like it's such a big deal for a wife to cook for her family. Lot of people have been doing it for ages and we didn't hear a noise.
Nigerians and trending nonsense sha!!!

kenniefawole:
we still sell quality fiverr reviews

How far
How much you dey sell fiverr reviews?

Artiiclebeast:
Kpele.

I deal with narcissists for fun and it has always worked.

They hate it when they get found out and always put in their place.

My man!!!
The last narc i mingled with gets more than she bargained for. I figured her out on time, decided to play dumb. Used and dumped her after i got satisfied, i hate nonsense!

gasparpisciotta:
Learn to understand the concept.

Before now pregnancy tests could only be done in hospitals.

Home DNA testing is closer than before.

You made a good point.

Is this still available? I have someone looking for a shared apartment around Gbagi.

Iseekforpeace:
Thank you. Were you once addicted?

Yeah i used to be some years ago when i was idle, was home doing nothing during one of the stupid ASSU strike. Somehow i found myself hooked to virtual, going to the bet shop almost everyday. I played with any money i could lay my hands on, it was really crazy, most times i trekked back home after losing all my money. After sometime i just made up my mind that this isn't right and not meant for me, so i stopped, not completely at first though but after some time, i completely stopped and the rest is history. You can do it also!!!!

I really understand and feel your pain. I wish i could do something to help you stop but in this case, only YOU can help yourself, no one else can. You have to be very determined, ready to count your losses and move on. Won't be easy of course but you have to try, cheers!

kunle4toyeyaho:
Makinde is overrated. Apart from salary payment,what other areas has he really touched? The debt profile of Oyo state has risen drastically. Until revenue started dwindling in his second term, Ajimobi's performance was excellent - Mokola flyover, a well fortified security architecture, Apete bridge,Mass recruitment of teachers in 2015, embarked on ologuneru- Akufo-Ido- eruwa road etc

First of all, none of them is special in my own book ok. And you actually made a valid point, in terms of infrastructure and the fortified security, no one comes close to Ajimobi. But you see that ordinary salary payment that Makinde have been doing promptly ehn, i think it's really good considering the current situation of everything. I understand that no government should be praised for paying salary, after all it's their duty. But for a minute, just imagine Makinde owing salary with this current situation of the economy, trust me it would have been disastrous for the civil servants. I remember vividly how it was when Ajimobi started owing salary then, even though the economy wasn't as bad as it is now.

kunle4toyeyaho:
Alao Akala tried but Ajimobi surpassed him. As for me, Ajimobi was the best

Except we're only naming past governors, i would say Makinde so far surpassed all of them. For the past 4yrs going to 5yrs in office now, man has never owed a single salary or pension plus he's trying in terms of infrastructure. Even though i don't even rate any of them in my own book but he seems to be the best so far.

franchasofficia:
South Africans are lucky sha, they should continually be thankful to God for giving them white South Africans, if not for the White South Africans, SA would have been worst than Somali.







I just wished Nigeria had a sizable population of white indigenes, they wouldn't have allowed Northern Abokis and Yorubas to destroy Nigeria the way it is right now




Before you quote my comment to talk thrash, ask yourself who have been ruling Nigeria as Presidents and Heads of state since 1966?


It is Northerners and Yorubas, they brought Nigeria to where it is today yet they have the guts to be attacking Igbos who haven't smelled presidency since 1966, God will disgrace you all.

You were actually making sense till you brought in the tribal nonsense. Get something right first, hausa, yoruba and igbo are all united in corruption and destruction of the country so far. Trust me even if an igbo man gets there today, nothing will really change as long as we're not ready to change collectively!
I totally agree with your point that if we have a sizeable amount of whites like SA, things would have been different. I know a lot of people will not agree tho but let's not deceive ourselves, the white men's brain is superior to ours.
I can bet you that 80percent if not more of those that built this thing are whites!

turmacs:
i have a boyfriend, thank you 😒

Lol
Alright pretty, stay safe!

Hey turmacs, came across your posts a few times and i must say you have a good head on your shoulders and obviously very beautiful too. Wish we could be friends

Una no dey tire?

What you did is right but not correct.

Oops

How do we know everything you typed up there isn't a made up BS? Got any tangible proof?