₦airaland Forum

Why?

Because we don dey abort foetus

Revert to napkins,wey our mama used for us 20years ago.
ALL THESE FOREIGN COYS ARE RIPPING OFF NIGERIANS. THE FOREIGN COYSVMAKE D BILLIONS TURNOVER AND REPATRIATE THEVDOLLARS TO THEIR COUNTRY ABROAD,
because OUR NAIJA PPL EXPENSIVE TASTE FOR THINGS THEY CANNOT SUSTAIN.

You see this what Peter obi was talking about during his election campaign.... turning Nigeria to a producing economy... creating a conducive environment for bussinesses companies industries to thrive and excel..with Peter obi in power all this companies would not had shut down due to this Tinubu hard economy with bad harsh economic policies..it's a pity

What did you expect from a president that the only thing he could tell nigerians during his presidential campaign that.,it's my turn

One of Tinubu achievements in one year in office... nawaoooo 🙄

The people jubilating at this. Keep in mind these same companies have been operating in a Nigeria for decades they just offload assets and continue making money.

When the government economy starts growing they invest in assets again.

The point is they don’t ever leave the Nigerian market.

The role of government is to provide a conducive environment for bussinesses companies industries to thrive and excel but Tinubu government cannot do all of this...it's a pity

The thing more important to tinubu government is the national anthem.. nawaoooo

While Tinubu will be wasting money traveling up and down looking for investors while the ones here are shutting their businesses, companies industries due to the Tinubu hard economy in which Tinubu cannot keep them..it's a pity

spartachico:
I don't know if this is good news or bad news because, it would have been nice for our billionaires to step up and fill up the space but will the quality be as good as the one that left, because one shop factory for one corner will start producing sub standards stuffs that will start giving rashes to it's users...confused tho.

So billionaire does not have sense to know if the foreigners with their foreign capital and with single digit interest rates financing from abroad cannot make it, he too cannot? Abi will the billionaire not face the same challenges eg power, diesel to run generators? Billionaire that will take loan from naija bank at 36% interest rate?
Imagine comming to naija with eg $100m loan from texas, you are then servicing the loan with eg $100k monthly. You were buying dollar at 300 naira to $1 so using 30m naira to service the foreign loan from your sales. $1 now becomes 1500 naira, meaning you have to now use 150m to service the same loan monthly! Not just that, diesel that was 120 naira per liter becomes 1200,1600 per liter, electricity bill goes up to eg 200 per unit, all sorts of taxes and bills, from local gov to state, to federal, you expect business to work? Na juju?
Why do you think domiciliary accounts are filled up with idle dollars Nigerians are not using? It pays that billionaire more to keep his money in hard currency than risk it in business that inflation, expenses renders all sales as losses.
I say it, if you are in business in naija, you will realize no one is making money now, they are only struggling to stay afloat. Most are burning through their capital. Once that is exhausted, they will close shop, sack workers.

Pepperdemisback:
You are the ignorant one here, go into deep search. Online purchase which became very popular during Covid started bringing them down. There are competitors who make these same Online Purchases back then too. So, they have little or nothing doing in their stores. Go for research and stop watching a dumb video there.
A lot of companies abroad have issues and are folding up. Seyi Makinde is bringing Shell project to Oyo State.

Typical of you guys, keep covering you guys incompetence

StOla:
What has the shutdown got to do with any section of the country besides the economy of the country as a whole?

Do you have multinationals in the East?

If the economy of Nigeria is not conducive for foreign investors who require stability of currency exchange to make profit from their investments, are they not going to shit down in the places that they run their operation?

How many Nigerian owned manufacturing conglomerate have shut down?

Were you expecting them to shut down where they do not exist?

Dis one na early morning cry

Focusmind:
The truth is, most of these manufacturing companies are transitioning to costs effective model of business operations, which is importation. No more manufacturing. Just build a warehouse and get some middle men to act as distributors and agents. No permanent staff, less overhead, not much fixed assets. Just buying and selling like an Onitsha man. Very lucrative model of business. This is what government has turned companies and businesses into in Nigeria. I hope Nigerian brewery won't shut down production and start importing beers into the country. Producing something in this country is extremely costly , with the cost of power as the biggest hinderance to businesses

You haven't heard Nigerian Breweries already closed down 2 Manufacturing Plants?

ANSMEDIA:
Typical of you guys, keep covering you guys incompetence

Look into the mirror, if you can afford one. If not, go to the nearest stagnant gutter to you, look into it, the person you see is the real definition of your comment.

ANSMEDIA:
Watch ignorant mind


https://www.youtube.com/watch?v=JDcs2mFyo1I?si=HUt8ajUXxDr35b4R

Local mushroom companies
What is their GDP?
All of them no reach one international company subsidiary
All oil companies just buying and selling producing nothing serious


Truly your ignorant beyond belief

Cromagnon:
Local mushroom companies
What is their GDP?
All of them no reach one international company subsidiary
All oil companies just buying and selling producing nothing serious


Truly your ignorant beyond belief

But the GDP of Anambra state is bigger than your state

ANSMEDIA:
But the GDP of Anambra state is bigger than your state

My state gov did not run for president

How many corpers do you see running to anambra

Why they all running to Lagos to sell inside go slow if anambra is so good