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Nairaland Forum / Nairaland / General / Business / P&G To Dissolve Ground Operations In Nigeria, Revert To An Import-only Business (23372 Views)
Emmanuel Chigozie Eze: P&G Head Of Sales Spent Firm’s N20m On Online Betting / Correct Facts About Why P&G Is Shutting Down Its $300 Million Agbara Plant / P&G To Shut Down $300 Million Nigeria Production Plant, A Year After Launch (2) (3) (4)
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Re: P&G To Dissolve Ground Operations In Nigeria, Revert To An Import-only Business by Eriokanmi: 11:13pm On Dec 06, 2023 |
tsdarkside:My cousin worked at Procter and Gamble at Oluyole Estate in Ibadan for years and he was never paid in dollars. P&G never evaded tax. They contributed greatly to oyo state IGR and that of the FG at large. Their products were for Nigerian Market only. They got the lemon from Nigerian local farmers and made them multi millionaires by constantly patronising them. I remember a time P&G brought an improved yield of the lemon to the farmers from IITA to enhance their yields. P&G had enough money to cultivate lemon but never did, just to promote local sources of supply and create wealth among farmers in a way. They didn't export their products. I'm sure you know the popular vicks lemon plus. It's the product I'm talking about. Lemon peel is one of the ingredients. You are one of the enemies of Nigeria guy. All of you will definitely bear the consequences of your defence of the indefensible soon. How would these farmers growing lemon survive? Hope you know they have families and employees on their farmlands? Where would they go? What of those Nigerians working on the P&G plant? You're disgrace to humanity 18 Likes 2 Shares |
Re: P&G To Dissolve Ground Operations In Nigeria, Revert To An Import-only Business by olamike02: 11:14pm On Dec 06, 2023 |
This is getting out of hands. Diesel is out of reach for many companies. Gas supply is as erratic as NEPA electric power supply. This govt is not getting anything right . Fix power and these companies will stay and prosper. 4 Likes 1 Share |
Re: P&G To Dissolve Ground Operations In Nigeria, Revert To An Import-only Business by Reference(m): 11:15pm On Dec 06, 2023 |
We warned them (government) to take inflation seriously, but their fanatics said we talk too much. They said they were looking for foreign investors. Foreign investors that will watch their investments watered down by 30 percent inflation every year? Who does that. 3 Likes 1 Share |
Re: P&G To Dissolve Ground Operations In Nigeria, Revert To An Import-only Business by vikstandon(m): 11:17pm On Dec 06, 2023 |
Jokerman: No be to learn be the issue... Na accessing forex to buy the products. |
Re: P&G To Dissolve Ground Operations In Nigeria, Revert To An Import-only Business by Hohaiiiode(m): 11:20pm On Dec 06, 2023 |
iwaeda:which Nigerians , the same once divided against tribe and religion? The same once whom among them we have the judiciary and the army and police ? Nigerians are powerless and mostly unwilling . Even if there wake up. The system is so dysfunctional that their will, will be broken 4 Likes |
Re: P&G To Dissolve Ground Operations In Nigeria, Revert To An Import-only Business by JOemmy(m): 11:20pm On Dec 06, 2023 |
Companies just keep fleeing nigeria is this how tinibu want to achieve his $1t economy? 3 Likes |
Re: P&G To Dissolve Ground Operations In Nigeria, Revert To An Import-only Business by vikstandon(m): 11:21pm On Dec 06, 2023 |
Ojuntana: They began with propaganda in 2015... People clapped for them. Everyone echoed change... THE CHANGE IS HERE. Bala Blu Blu would finish what is left. I pray he doesn't hand over an irredeemable Nigeria. 2 Likes |
Re: P&G To Dissolve Ground Operations In Nigeria, Revert To An Import-only Business by femi4: 11:25pm On Dec 06, 2023 |
immortalcrown:The ground no gree run .....from baba go slow to baba no direction 2 Likes |
Re: P&G To Dissolve Ground Operations In Nigeria, Revert To An Import-only Business by nairalanda1(m): 11:27pm On Dec 06, 2023 |
Got to use them generics. Basically, this is the result of failure to diversify the economy. As a result, we are not earning enough...and this has knock on effects. Like I said, APC should have been voted out this year. We needed at least the idea of something new. But the opposition was divided, and here we are. 2 Likes |
Re: P&G To Dissolve Ground Operations In Nigeria, Revert To An Import-only Business by Eriokanmi: 11:27pm On Dec 06, 2023 |
Dsimmer:How much do you think is enough to erect just one manufacturing plant? If any of those calling themselves billionaires in Nigeria should have just one of the P&G plants, he'd go bankrupt in a matter of months. They're worth billions of dollars. P&G is one of the topmost multinationals with branches in several countries of the world. Go to Oluyole Estate in Ibadan and see things. When the raw materials sourced locally aren't there and are more expensive where available, what would they do? Those farmers supplying them the lemon used in producing vicks lemon plus according to my cousin who's one of their ogas, farmers were complaining that the chemical used in keeping the lemon green and control pests were too expensive cos of high fx rates. This complaint was constantly coming from farmers cos P&G always rejected their poor yields and the lemon was still very expensive despite this complaint. Now I believe what he said with this news. If P&G is getting their lemon cheaper and fresher from South Africa, why won't they go there? If they should embark on this course, many wouid lose their jobs and many local farmers would pack up and also send many out of jobs on their farmland 6 Likes 1 Share |
Re: P&G To Dissolve Ground Operations In Nigeria, Revert To An Import-only Business by OmoGomesIlorin: 11:28pm On Dec 06, 2023 |
Jokerman: There is nothing special in their business lines. What exactly does Procter and Gamble do? The company's product portfolio comprises conditioners, shampoo, male and female blades and razors, toothbrushes, toothpaste, dish-washing liquids, detergents, surface cleaners and air fresheners. |
Re: P&G To Dissolve Ground Operations In Nigeria, Revert To An Import-only Business by amadiama(m): 11:28pm On Dec 06, 2023 |
God help this nation!!!... everyone is leaving!!.. |
Re: P&G To Dissolve Ground Operations In Nigeria, Revert To An Import-only Business by amadiama(m): 11:29pm On Dec 06, 2023 |
PHIPEX: Local investors that will pay peanuts and yet use you like slave! 2 Likes |
Re: P&G To Dissolve Ground Operations In Nigeria, Revert To An Import-only Business by Bossman(m): 11:34pm On Dec 06, 2023 |
The population never really had much of a purchasing power. An overwhelming majority of the over 200 million are very low income earners. nedu666: 1 Like |
Re: P&G To Dissolve Ground Operations In Nigeria, Revert To An Import-only Business by YoshihideSuga: 11:41pm On Dec 06, 2023 |
codemaniacs: Argentina generated $200 million yet has a currency crises. Nigerians have low purchasing power. https://twitter.com/onu_kwue/status/1732423126435365086?t=c1izwi5hlAdLTqd4DwphCg&s=19 2 Likes |
Re: P&G To Dissolve Ground Operations In Nigeria, Revert To An Import-only Business by owagbeba: 11:49pm On Dec 06, 2023 |
tsdarkside: It is very difficult to do business in Nigeria. P&G import raw materials for their local production. Just like many business including mine, it is difficult accessing forex. Take this example You have a shipment worth 70,000USD at Apapa port. You apply for form M, then you pay 300k SON documentation to apply PAAR. You get a surface duty of 10,500,000 which goes up to 15,000,000 After DTI computation and entry. You pay your stipulated, only to see on Ascoda system that your import has been alerted by the same folks at Abuja that issued you PAAR for no reason. Then you begin negotiating for the cancellation of this alert. Negotiation equals settlement in this part of the world. You go through the hoop settling myriad of agencies: police, CIU, SoN, DC squad , chief examiner. Etc. Finally you get an exit note. Customs at Gate now queries your exit note. They say your 20% duty rate is not sufficient. Government has a target to meet. You have to settle or else you get a DN. When you are done with all these groups eager to get a bit off you, you are faced with another group on the roads: FOU and Agbero. The whole process of doing anything in this country is sooooooo frustrating . The funniest part… don’t ever think the past is gone. There is a new group called customs post audit. They review all previous releases and re-issue DN on these cleared cargos. Every dept has a target to meet. You must cough up or be damned…. Go figure! 7 Likes 1 Share |
Re: P&G To Dissolve Ground Operations In Nigeria, Revert To An Import-only Business by tete7000(m): 11:56pm On Dec 06, 2023 |
nedu666: Your not believing them doesn't do anything to them. Were they not the same company who operated in Nigeria for long? If they are making profit, you think they will leave? Or did they consult you before they came and open their business here? They relied on you believing them before they did that? The earlier you accept that apc has destroyed this country, the better for you. Eight years of Buhari decimated everything, and the damage is still ongoing under Tinubu. No business making money close down for no tangible reason. 4 Likes 1 Share |
Re: P&G To Dissolve Ground Operations In Nigeria, Revert To An Import-only Business by Tntsi: 11:57pm On Dec 06, 2023 |
OmoGomesIlorin: Shame on you. You are curse to humanity. Qwantinue to defend this curse on the land. It will collapse on your head soonest. 3 Likes |
Re: P&G To Dissolve Ground Operations In Nigeria, Revert To An Import-only Business by TrumpDonald2: 11:58pm On Dec 06, 2023 |
victorVIC1: I am a proponent of local production by local investors. Are there not local investors still producing in the country? Of course there are. P&G is shutting down local production partly because of trapped funds. Do they have resources to continue local production, yes. But will they continue, no. Because its now more profitable for them to just import. Foreign investors just like every other business is to make profit. Their profit. Now what we have is job loss. The reason why local investors will always be more beneficial to the country than foreign investors. Had it been a local investor, will it be shutting down productions? https://punchng.com/foreign-investors-repatriate-5bn-dividend-cbn/ 1 Like |
Re: P&G To Dissolve Ground Operations In Nigeria, Revert To An Import-only Business by oyeb15: 12:01am On Dec 07, 2023 |
We told them. Internal production will collapse and everybody will depend on importation as a result of subsidy removal. At d end on the day, Naira will collapse. Inflation will bite harder . Government won't even be able to discharge her duties effectively again. No economy survive wherever energy is expensive. Tinubu should correct his mistakes asap. 2 Likes |
Re: P&G To Dissolve Ground Operations In Nigeria, Revert To An Import-only Business by mdimefields: 12:01am On Dec 07, 2023 |
One fool cum fake pastor will soon twits the narratives that a certain tribe is responsible for their exit. You wonder how a man above fifty years will be so childish and tribalist in orientation. |
Re: P&G To Dissolve Ground Operations In Nigeria, Revert To An Import-only Business by tsdarkside(m): 12:03am On Dec 07, 2023 |
owagbeba: its not the job of nigeria to be providin you dollars.... if you want dollars,then start your business in america that controls dollars....thats common sense.... if the raw materials you need for your business is not in nigeria,then it makes no sense to open shop in nigeria.... from were do you think nigeria gets it own dollars from....?? you think america dash them....?? you are blamin the wrong people.... you want dollars,international companies want dollars,common people want dollars.... to add salt to injuries,you use aboki when you have dollars other than cbn.... its good the way nigerian customs are doing it....to remind you people that nigeria is not a dollar economy but naira.... imports should be discouraged at all cost.... |
Re: P&G To Dissolve Ground Operations In Nigeria, Revert To An Import-only Business by gigfx: 12:12am On Dec 07, 2023 |
This type of news will be a common type going forward, those coys even try to be in operation up until now. The day Emilokan said petrol subsidy has being removed, for any fast thinking citizen supposed don know all this will happen and this type is just the beginning, more coys to join and more unemployment will follow. Crime is another think that will increase. For a govt that removed subsidy and continue spending like say nothing happen to the economy. The shame is on the cizitens especially those ones that will praise govt, on hearing some stupid promises. Anywhere in the world, people dont praise govt, they are not using their papa or mama money, they are using our collective resources and Tax generated from me and you and coys like this one. If all these coys close and no enough corporate tax for govt, just know that the burden go still come ontop those managing with the little job they have. 2 Likes 1 Share |
Re: P&G To Dissolve Ground Operations In Nigeria, Revert To An Import-only Business by Theunbothered: 12:18am On Dec 07, 2023 |
Please where is SeaTrade who was arguing rubbish with me last week? You guys will learn by force. 1 Like |
Re: P&G To Dissolve Ground Operations In Nigeria, Revert To An Import-only Business by Evolutionism: 12:22am On Dec 07, 2023 |
owagbeba: 1 Like |
Re: P&G To Dissolve Ground Operations In Nigeria, Revert To An Import-only Business by tsdarkside(m): 12:22am On Dec 07, 2023 |
Princebest: nonesense.... how many nigerians do you think this rubbish companis hire in nigeria that justify them doing anyhow....?? if they cant operate in nigeria,then they should go.... last i remember,nigeria has local pharmacy companies too,that they drove out of business....they will retake their place again.... |
Re: P&G To Dissolve Ground Operations In Nigeria, Revert To An Import-only Business by Evolutionism: 12:24am On Dec 07, 2023 |
gigfx: |
Re: P&G To Dissolve Ground Operations In Nigeria, Revert To An Import-only Business by tsdarkside(m): 12:24am On Dec 07, 2023 |
nigerians are strange....no other country jubilates that foreighners take over their local production sector.... fee dee fee lied to una that privatization will solve all problems.... now it has become much worser.... |
Re: P&G To Dissolve Ground Operations In Nigeria, Revert To An Import-only Business by 12inchess: 12:26am On Dec 07, 2023 |
They were never a real company after all..Like someone said if all your raw materials cannot be accessed here, why set up shop. The labor is cheap. The raw materials has been subsidized for too long.I feel local manufacturers should simply takeover from them. This is why China's policy of keeping raw materials in house is the best. Once you learn from their technology, the you can simply start manufacturing it yourself. |
Re: P&G To Dissolve Ground Operations In Nigeria, Revert To An Import-only Business by Daystar7: 12:29am On Dec 07, 2023 |
tsdarkside: You just displayed stark illiteracy. Shameless 1 Like |
Re: P&G To Dissolve Ground Operations In Nigeria, Revert To An Import-only Business by tsdarkside(m): 12:30am On Dec 07, 2023 |
Daystar7: noo,they are tellin you themselves that they are dollar based.... soo,read before accusin me.... |
Re: P&G To Dissolve Ground Operations In Nigeria, Revert To An Import-only Business by tsdarkside(m): 12:39am On Dec 07, 2023 |
YourGFsnatcher: you cant scare us with sanctions no more.... then we do business with only nations that you santioned too.... |
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