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Multinationals Leaving Nigeria Due To Foreign Exchange Woes – Edun - Politics (3) - Nairaland

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Re: Multinationals Leaving Nigeria Due To Foreign Exchange Woes – Edun by Jamie248: 8:08am On Jun 03, 2024
Morbeta11:
https://punchng.com/multinationals-leaving-nigeria-due-to-foreign-exchange-woes-edun/#google_vignette
Look at the kind of outdated professional calling himself finance minister, he's not even pretending to have any ideas left
Re: Multinationals Leaving Nigeria Due To Foreign Exchange Woes – Edun by Konquest: 8:08am On Jun 03, 2024
mrvitalis:
What you are saying won't solve our problem it's not possible
What I posted originally aren't the ONLY solutions for solving the vast economic challenges. Boosting oil and natural gas reserves and adding value to all known commodities emanating from every local government or administrative region of Nigeria with clear intentionality are CERTAINLY parts of the solutions. I worked in the oil and gas industry from the 1990s and I know the huge benefits that immediate changes in that sector can do to boost income streams. I gave just a few of the strategic info here just to save time.

If you have your own unique ideas, then you can share it for the benefit of all folks of Nigerian descent worldwide.
Re: Multinationals Leaving Nigeria Due To Foreign Exchange Woes – Edun by casualobserver: 8:11am On Jun 03, 2024
This is why I don’t understand the obsession with seeking foreign investors up and down.

1) if we get our act together, they will be the ones scrambling to invest in Nigeria.
2) they are fair weather investors, once things are tough they leave
3) they repatriate their profits putting pressure on our forex reserves.

Personally I always celebrate whenever a multinational exits Nigeria especially in the FMCG, pharmaceutical area…..because it just provides a void for Nigerian busineses/business men.

We don’t need foreign investors in FMCG, telecoms, pharmaceutical, oil, electricity, agric. If we cannot build and dominate these sectors on our own then we are not serious as a people.
Re: Multinationals Leaving Nigeria Due To Foreign Exchange Woes – Edun by Thormentor: 8:24am On Jun 03, 2024
I completely disagree with this mr edun

Multinationals qre thriving in Nigeria

we Nigerians are happy with this Workaholic administration Yarimo no be so? smiley
Re: Multinationals Leaving Nigeria Due To Foreign Exchange Woes – Edun by Konquest: 8:25am On Jun 03, 2024
Believeintruth:
Oga stop living in denial and deception.
Young man, YOU have become a relentless nuisance on this discussion forum. Learn to respect people's professional contributions and opinions here and STOP derailing and trolling people on threads!

You've been doing even the same thing and even worse to @FreeStuffsNG and I remember WARNING you on a thread early last month to respect his opinions here on NL, but you have continued to derail and cause distractions like you did on that Ogun oil and gas thread that hit the frontpage 2 days ago. You have to stay off all my mentions from here on out.


VIOLATION of Nairaland Rules 2, 1, 8, 9
@Mynd44, @Dominique, @Nlfpmod, @Seun.

The moniker I just quoted above is a well-known, very insidious derailer and troll here on NL. Since he has refused to respect himself, please do the needful to keep him in check for the VIOLATION of Nairaland Rules 2, 1, 8, 9.
Re: Multinationals Leaving Nigeria Due To Foreign Exchange Woes – Edun by Och77(m): 8:27am On Jun 03, 2024
hybrid77:
grin

Wow, i thought the economy is growing. How can the economy grow when businesses are struggling, shutting down and multinationals leaving?

Na juju be that ? grin
That will tell it's all propaganda
Re: Multinationals Leaving Nigeria Due To Foreign Exchange Woes – Edun by Moniya4Real(m): 8:29am On Jun 03, 2024
abegi! if corruption wasn’t rife back in 2015, wet wouldn’t have thought of voting APC. the economy had ranked compared to the military eras.
Splendid235:
Nigerians were warned like 2015 but some people insisted on having the failure as president.Now, they are playing opposition to their own government. Wahala dey o!
Re: Multinationals Leaving Nigeria Due To Foreign Exchange Woes – Edun by Believeintruth: 8:31am On Jun 03, 2024
Konquest:
Hey, you must STOP these kinds of irritating comments that minimize other people's professional contributions here on NL. "It makes you look small tbh." Those of us who are based in the Diaspora just want the best for Nigeria and not these kinds of negative and toxic comments that some of you guys relentlessly push out here because we have investments in Nigeria as well and this is NOT about supporting any party. I spoke about value addition of commodities and more to bring in the needed FX. Is this not in tandem with economic principles?

I was updating my initial post when I saw your mention. You may wish to reread it again to get a hang of my original post here.
Oh so you are based in the diaspora. Oga come and spend one year in Nigeria now and I promise you, you will sing a different tune walahi.
Re: Multinationals Leaving Nigeria Due To Foreign Exchange Woes – Edun by lastkingsman: 8:32am On Jun 03, 2024
BigDawsNet:
When multinational investors are leaving a country…

It’s a sign of more shege to come…

Pls prepare and pray for it….

Why can’t they reverse all dis nonexistent policy… let everyone be enjoying Buhari economy policy like dat… @atleat we can buy dollar at 450 in d bank
Removing fuel subsidy and floating Naira was the right call. I even commended Tinubu for the brave decision. His inability to ramp up crude oil production and cut down cost of governance (which is why I voted Obi) will finish administration
Re: Multinationals Leaving Nigeria Due To Foreign Exchange Woes – Edun by Faposky95: 8:33am On Jun 03, 2024
can you please take a chill pill and listen to yourself.........?!
Re: Multinationals Leaving Nigeria Due To Foreign Exchange Woes – Edun by Believeintruth: 8:34am On Jun 03, 2024
Konquest:
Young man, YOU have become a relentless nuisance on this discussion forum. Learn to respect people's professional contributions and opinions here and STOP derailing and trolling people on threads!

You've been doing even the same thing and even worse to @FreeStuffsNG and I remember WARNING you to respect his opinion here on NL, but you have continued to derail. You have to stay off all my mentions from here on out.


VIOLATION of Nairaland Rules 2, 1, 8, 9
@Mynd44, @Dominique, @Nlfpmod, @Seun.

The moniker I just quoted above is a well-known, very insidious derailer and troll here on NL. Since he has refused to respect himself, please do the needful to keep him in check for the VIOLATION of Nairaland Rules 2, 1, 8, 9.
What is your problem how did I insult you? Is it not obvious that you are living in denial and deception? How do you think oil exploration will bring in needed FX when the IOCs are divesting their assets from Nigeria. The indigenous companies do not have the capacity and cannot take on the cost implications of an increased exploration.
I have when people continually lie to themselves and deceive others in the process.
Re: Multinationals Leaving Nigeria Due To Foreign Exchange Woes – Edun by Believeintruth: 8:36am On Jun 03, 2024
Konquest:
Young man, YOU have become a relentless nuisance on this discussion forum. Learn to respect people's professional contributions and opinions here and STOP derailing and trolling people on threads!

You've been doing even the same thing and even worse to @FreeStuffsNG and I remember WARNING you on a thread early last month to respect his opinions here on NL, but you have continued to derail and cause distractions like you did on that Ogun oil and gas thread that hit the frontpage 2 days ago. You have to stay off all my mentions from here on out.


VIOLATION of Nairaland Rules 2, 1, 8, 9
@Mynd44, @Dominique, @Nlfpmod, @Seun.

The moniker I just quoted above is a well-known, very insidious derailer and troll here on NL. Since he has refused to respect himself, please do the needful to keep him in check for the VIOLATION of Nairaland Rules 2, 1, 8, 9.
I did not derail any thread. You guys do not like the truth, you hate being challenged and shown the obvious fact that you play propaganda here. There is no way with the present realities that what you are proposing will help this country, except you are denying the obvious truth.
Re: Multinationals Leaving Nigeria Due To Foreign Exchange Woes – Edun by Believeintruth: 8:38am On Jun 03, 2024
Konquest:
Young man, YOU have become a relentless nuisance on this discussion forum. Learn to respect people's professional contributions and opinions here and STOP derailing and trolling people on threads!

You've been doing even the same thing and even worse to @FreeStuffsNG and I remember WARNING you on a thread early last month to respect his opinions here on NL, but you have continued to derail and cause distractions like you did on that Ogun oil and gas thread that hit the frontpage 2 days ago. You have to stay off all my mentions from here on out.


VIOLATION of Nairaland Rules 2, 1, 8, 9
@Mynd44, @Dominique, @Nlfpmod, @Seun.

The moniker I just quoted above is a well-known, very insidious derailer and troll here on NL. Since he has refused to respect himself, please do the needful to keep him in check for the VIOLATION of Nairaland Rules 2, 1, 8, 9.
@Mynd44, @Dominique, @Nlfpmod, @Seun. Please either think it is high time you ban people who love to make false accusations against people who challenge their comments rather than engage in fruitful discourse and bring their own facts.
Re: Multinationals Leaving Nigeria Due To Foreign Exchange Woes – Edun by Believeintruth: 8:42am On Jun 03, 2024
Konquest:
What I posted originally aren't the ONLY solutions for solving the vast economic challenges. Boosting oil and natural gas reserves and adding value to all known commodities emanating from every local government or administrative region of Nigeria with clear intentionality are CERTAINLY parts of the solutions. I worked in the oil and gas industry from the 1990s and I know the huge benefits that immediate changes in that sector can do to boost income streams. I gave just a few of the strategic info here just to save time.

If you have your own unique ideas, then you can share it for the benefit of all folks of Nigerian descent worldwide.
What you are proposing with the present realities cannot work. I understand why you are saying this because you are in the diaspora and you have no clue as to the present realities in the oil and gas industry in Nigeria.
No IOC will commit any dollar to oil exploration right now in Nigeria and the local firms do not have the capacity and considering the high lending rates will not risk that venture. This is the sincere truth, the only solution is for the government to end insecurity and be serious about keeping the flow of money in a closed loop, too much money is out side our financial system and it is contributing to the hyper inflation we have which impacts on the exchange rates. If this is done I bet you investors will come back.
Re: Multinationals Leaving Nigeria Due To Foreign Exchange Woes – Edun by edungene7: 8:44am On Jun 03, 2024
A bad workman fights with is tools if you can't help a bad situation kindly leave it the way it was not adding salt to injury bunch of criminals were is FFK and fetus keyamo they should come and defend their fraud of a president
Re: Multinationals Leaving Nigeria Due To Foreign Exchange Woes – Edun by Konquest: 8:56am On Jun 03, 2024
Believeintruth:
What is your problem how did I insult you? Is it not obvious that you are living in denial and deception? How do you think oil exploration will bring in needed FX when the IOCs are divesting their assets from Nigeria. The indigenous companies do not have the capacity and cannot take on the cost implications of an increased exploration.
I have when people continually lie to themselves and deceive others in the process.
Hey! You must think everybody is a fool here. There are many folks who are professionals here on NL. To show that YOU do NOT understand what is going on in the oil and gas sector, you WRONGLY said the oil and gas companies are divesting from Nigeria, but that is incorrect! What they have done is to sell their assets in the onshore and near-offshore or shallow waters to local oil and gas players and then move to the more LUCRATIVE deep offshore. Globally, the deep offshore is where the action is at in the oil and gas sector.

For your info, I worked in the oil and gas sector right from the 1990s and even lived and worked in Port Harcourt and more. I've been a member of NL since 2005 with an older monicker and as a veteran here, I can say without a shadow of doubt that your narcissistic behavior is one of the most insidious I have ever seen. When some people post useful info here on NL, you go about butting your head into their posts by making sarcastic comments with one liners questioning people's intelligence. That's rude of you because you don't even know me or others that you do this insidious thing to.


The reason why I'm responded to this post of yours is so that YOU do NOT mislead the NL readers and most especially our younger ones here with your falsehoods about IOCs divesting. All the IOCs have moved to the deep offshore. Your manner of responding to people's post with your initial insidious "one liners is very rude." Do you think people here are uneducated and everyone here is your play mate? Go and kick rocks. Period.
Re: Multinationals Leaving Nigeria Due To Foreign Exchange Woes – Edun by Okwyjesus(m): 9:12am On Jun 03, 2024
Re: Multinationals Leaving Nigeria Due To Foreign Exchange Woes – Edun by Believeintruth: 9:15am On Jun 03, 2024
Konquest:
Hey! You must think everybody is a fool here. There are many folks who are professionals here on NL. To show that YOU do NOT understand what is going on in the oil and gas sector, you WRONGLY said the oil and gas companies are divesting from Nigeria, but that is incorrect! What they have done is to sell their assets in the onshore and near-offshore or shallow waters to local oil and gas players and then move to the more LUCRATIVE deep offshore. Globally, the deep offshore is where the action is at in the oil and gas sector.

For your info, I worked in the oil and gas sector right from the 1990s and even lived and worked in Port Harcourt and more. I've been a member of NL since 2005 with an older monicker and as a veteran here, I can say without a shadow of doubt that your narcissistic behavior is one of the most insidious I have ever seen. When some people post useful info here on NL, you go about butting your head into their posts by making sarcastic comments with one liners questioning people's intelligence. That's rude of you because you don't even know me or others that you do this insidious thing to.


The reason why I'm responded to this post of yours is so that YOU do NOT mislead the NL readers and most especially our younger ones here with your falsehoods about IOCs divesting. All the IOCs have moved to the deep offshore. Your manner of responding to people's post with your initial insidious "one liners is very rude." Do you think people here are uneducated and everyone here is your play mate? Go and kick rocks. Period.
Dude once again you are being half clever. Oga first of all selling their assets is divesting if you do not know. If I am relinquishing ownership of something to focus on my other assets It is divesting.
Oga no dey deceive people, your anger with me is because I have exposed your deceit. We were all here when Total ignored Nigeria and invested 6billion in Angola, if truly you worked in oil and gas industry you will realise that the gulf of guinea oil zone which Nigeria is classed under is the most prolific in Africa and should not be ignored, so of it is ignored you will know that there is something chasing them away from further investments. Dude stop lying to people, you are not an oil and gas professional no dey brag, people no dey fall for all that trick. Once again bros No IOC will invest in oil exploration for now in Nigeria because of the instability of our policies and rhe unseriousness of our leaders, even the local players do not have the capacity for this and would not take that risk considering high cost of financing to do any inland oil exploration.

Dude deceiving people is one thing, but you see self deceit is worse, that is my advice to you.
Re: Multinationals Leaving Nigeria Due To Foreign Exchange Woes – Edun by stacyadams: 9:41am On Jun 03, 2024
hybrid77:
grin

Wow, i thought the economy is growing. How can the economy grow when businesses are struggling, shutting down and multinationals leaving?

Na juju be that ? grin
. Government of confusion
Re: Multinationals Leaving Nigeria Due To Foreign Exchange Woes – Edun by tnerro1(m): 9:52am On Jun 03, 2024
This one or CBN guy, I no know which one vex me pass
Re: Multinationals Leaving Nigeria Due To Foreign Exchange Woes – Edun by PARADIZEPRIEST: 10:41am On Jun 03, 2024
THIS IS OPPORTUNITY FOR LOCAL MANUFACTURERS.
You politicians and your liked,we should stop depending on foreign goods.
STOP IMPORTING NONSENSE INTO THIS COUNTRY,LIKE :
FOREIGN FURNITURE,
FOREIGN BUILDING MATERIA,
FOREIGN LIQUORS,
FOREIGN SOAPS,FOREIGN TEXTILES,THIS IS TIME TO LIVE ON OUR OWN PRODUCTION and cut mad demand for dollars. angry
Re: Multinationals Leaving Nigeria Due To Foreign Exchange Woes – Edun by BigDawsNet: 11:53am On Jun 03, 2024
lastkingsman:
Removing fuel subsidy and floating Naira was the right call. I even commended Tinubu for the brave decision. His inability to ramp up crude oil production and cut down cost of governance (which is why I voted Obi) will finish administration
With this subsidy removal and floating of Naira.. increase of minimum wages should be considered
Re: Multinationals Leaving Nigeria Due To Foreign Exchange Woes – Edun by Jasonekah98: 12:40pm On Jun 03, 2024
Like Nigeria, Like Manchester United.

If you don't perform after all the mouth you've made during the campaign or after all the big money players you've acquired, you head will be found wanting.

You all knew what kinda country you were fighting to win the election for, you knew what the citizens wanted, and you had all the time to draw out a blue print for the country before the campaign, but you didn't. Now look at the mess you've found yourselves in.
Re: Multinationals Leaving Nigeria Due To Foreign Exchange Woes – Edun by Xtraterestial: 1:32pm On Jun 03, 2024
They're just stealing money for next election to bribe ppl, Una Neva see anything, these ppl are psychopaths looking for more money, ppl like that don't care who g
Suffer long as they get money, They're not there to govern.if them like they should increase wages, commodities will increase too, failed state.
Re: Multinationals Leaving Nigeria Due To Foreign Exchange Woes – Edun by CrossRhodes: 5:17pm On Jun 03, 2024
MASTAkiLLAh:
Peter Giringory Obi, you do this one cry
grin
Re: Multinationals Leaving Nigeria Due To Foreign Exchange Woes – Edun by Exceed15: 8:49pm On Jun 03, 2024
That's Tinubu Score card. The person who said this is not obidient.
1 2 3 Reply

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