₦airaland Forum

Who wants to do business in an unfriendly environment? The music has been the same since 2015 when Buhari/APC took over power. Nigeria was already dead, but Tinubu buried it. Tinubu singlehandedly conducted funeral for Nigeria. It shall never be well with APC/Buhari/Tinubu.

If Peter obi was in power with his economic plans and policy of turning Nigeria to a producing economy all this companies would not had left Nigeria...but this companies would had been thriving and excelling and expanding....it's a pity renewed shege everywhere

Tinubu and APC has totally destroyed this economy and country..it's quite unfortunate

lonelydora:
No backing down!

Whoever that is tired of standing on his mandate should carry chair and sit down.

Have you seen any Igbo man complain about the economy? No tribe is better prepared for the worst in Nigeria than the Igbo people.

You all thought you are doing Peter Obi and Obidients. Ngwanu... Tinubu must finish his two terms o.

Una never see anything.

Oga, you people should stop pinning obidient movement to Igbo tribe, i don't even know if that is deliberate or reverse phsycho agenda.

Life2ways:
Who wants to do business in an unfriendly environment? The music has been the same since 2015 when Buhari/APC took over power. Nigeria was already dead, but Tinubu buried it. Tinubu singlehandedly conducted funeral for Nigeria. It shall never be well with APC/Buhari/Tinubu.

Renewed hope to renewed shege 🙄

cococandy:
Where’s Iamblessed85 ? Come and blame feminists and western propaganda for this one too

I didn’t even need to read deep to see that it’s fake news.

1. Diageo is being replaced by Tolaram or so. Where’s the loss?

2. Exxon, Shell, ENI and other IOC’s aren’t leaving Nigeria. They are only divesting their onshore assets to focus on deep offshore assets due to inherent issues associated with onshore assets e.g lower hydrocarbon volumes, GHG emission, insecurity (self inflicted), etc. Infact one of the IOC’s i mentioned is about committing over 5bln dollars of fresh investment in Nigeria as we speak. That won’t make the news of course because it dosent fit the narrative.

God forbid that i’m pro APC but I’m unashamedly pro Nigeria. My whole thing is, the media is a very wicked and mind controlling enterprise. We must strive to form our own independent opinion as against being pulled on a string like puppets.

The west had their own fair share of problems many years ago but they did not prevail by running away to other countries. As for me, Nigeria is my Alamo (last stand) and if i perish here, so be it. At least, i’d never be regarded as one of those cowards that took flight at the very first sight of turbulence. I call them opportunists but then, who am i to judge really.

And yes, price of beans rose from 200 naira to 2k but the price of rent also increased from
1.5k to 3k in canada for same apartment. You dont hear them saying “Canada to the dogs”.!

You are correct what did you invest in let me guest Land

YouAreNobody:
Emigrating from this shithole was the best life decision I ever took.
Nigeria is a dream-killer and your useless leaders will help you bury your dreams.

Elect good leaders and a section of the country will say it must be their brother, no matter how useless the brother is.

Aside my investments, nothing concern me with that country

Na Yorubas dey complain pass
If dem complain give you
Tell dem say make dem go aso rock go ask presido for assistance, shebi na their brother dey power

DMerciful:
Tinubu’s supporters ignorantly say it doesn't matter.

They're rejoicing even though Tinubu’s illegitimate presidency is being buried alive!

They are even mobilising 40 million people to vote for Tinubu come 2027,you think say this people go ever get sense......they enjoy suffering and smiling.

lonelydora:
No backing down!

Whoever that is tired of standing on his mandate should carry chair and sit down.

Have you seen any Igbo man complain about the economy? No tribe is better prepared for the worst in Nigeria than the Igbo people.

You all thought you are doing Peter Obi and Obidients. Ngwanu... Tinubu must finish his two terms o.

Una never see anything.

I don't think it is an issue of tribe it is affecting everyone. There are many Igbos in those companies that exited if you must know. An Igbo man dealing in spare parts at Ladipo is also affected as the purchasing power of his customers is reduced. So, it is like a circle

mrvitalis:
You know Peter Obi said everything on this editorial

It's sad that 500 million dollars credit facilities in a form of interest free loan would have prevented this companines from leaving instead expanded them heavily

Your economy is shrinking, revenue is less then debt servicing +recurrent expenditure, unemployment is growing, currency is loosing value...........

And your biggest expenditure is to build a 10 billion dollars road that already has multiple alternatives?

It can never ever make any economic sense at all

it is the trick of putting meat in the mouth and making it disappear, that is what the coastal road is all about, they want to use Abu money to entertain Abul,that is what they will use to bribe Nigerians to vote them in 2027 just thesame tactics they have been using successfully in Lagos over the years

Justiceganduje:
By the time Ebola Tinubu finishes with Nigerians, We will even be begging Ghana must go bag not to exit from Nigeria too. This is just the beginning.

What do you expect from a Drug convict ?
And an AgberoEconomics

Kay17:
I agree. The exit of multinationals and the shrinking of the economy along with shabby foreign exchange market doesn’t affect Igbos in the Southeast and all round Nigeria.

The exit of doctors and astronomical increase in prices of food and medicine doesn’t affect Igbos.

Don't mind him, he was just thinking narrowly

Tonnyray:
His question is just as valid.
You don't determine what the question should be.

I don't. Neither does he. The question is stupid to be honest. A buoyant economy should be competitive not constricted. No sane human can see a company worth less than $2bn replacing a company worth £32bn as a good thing.
Tolaram have been producing kellogs and colgate for Africa on franchise. What's the quality like compared to the original?

surgical:
it is the trick of putting meat in the mouth and making it disappear, that is what the coastal road is all about, they want to use Abu money to entertain Abul,that is what they will use to bribe Nigerians to vote them in 2027 just thesame tactics they have been using successfully in Lagos over the years

There are easier way to do it na how much is the bribel

12 million votes X 15,000 is a mere 180 billion
You don't even need that to bribe voters

demarc001:
Because they are Indians, they know how to do business the Nigerian way

Cheap labour
No standards
No safety
Poor welfare for staff
Bribe government officials
Etc.

With all these they still manage to make profit.
Big multinationals don't do these because of integrity.

You are very correct. You will never hear the indian, Lebanese and Chinese companies leaving. It simply because of the factors you listed up there

In Kenneth okonkwo's voice;
"Anarchy looms"

The 2 Blind Men, Tinubu and his godfather Buhari are carrying 200 million educated Nigerians to where them no know.
It obvious that after 4 years of Tinubu, all foreign investments in Nigeria will be gone.
Nigerians will survive on:
1 Dating site
2. Lottery and Bet naija
3. Brothels and beer parlors
4. Few filling stations
5. POS stands
6. Small e-commerce sales sites
7. Kiosk and mamaput stands.

hegelian:
These companies leaving have much more than failing of the government.. There is something they are seeing that we are not seeing and is much more than govt policies..I sincerely hope Nigeria is save in years to come.. I hope we are not in the final stage of serious looming of anarchy.. I seriously fear for the innocent lives that will be affected including mine.. Something is seriously brewing for multinational to start protecting itself.. They see very far ahead and plan seriously before it.. We are seeing 1 to 4 years and they are seeing decades ahead and more..

I suspect full blown war might be their reason.

All what you wrote here are rubbish. Diageo , a well reputable company quoted on the London stock exchange is withdrawing operations in Nigeria and will just have a small sales and distribution business because of the high cost of overhead(attributed to inflation), difficulty in repatriating their profits due to unavailability of forex and unstable government policies.These are the main issues. Now, Tolaram is an Indian company not quoted on any stock exchange so they will misbehave as much they like. They will come in with draconian HR policies for the Nigerian staff. They will reduce their salaries, subject them to long hours of work, water down the safety policies the staff are used to with Diageo and bribe their way into shutting down any complains or insubordination from staff. Shell is divesting the biggest onshore oil business in Nigeria because they cant break even as a result of insecurity and they also have this challenge of repatriating profits for their onshore business as it is an NNPC joint venture. They will keep their offshore business. However, not for too long as the PIA is unfavorable to most IOCs. ENI is leaving Nigeria totally. Exxon is also leaving the shallow offshore business which makes up over 70% of their total business worth in Nigeria. As soon as Shell leaves the onshore business, Total will divest their stake in the Onshore Joint venture Shell has. Chevron has also been muting to leave. Let me not even explain how catastrophic the exit of Shell from the onshore business will be for the Rivers state economy in particular and for the Nigerian economy at large. Ask those who stay in Warri to explain to you the untold hardship they are passing through with the exit of Shell from Warri in 2011. A lot of small and medium scale companies depend on the presence of Shell in Rivers to survive. I can't start thinking about the job losses and the number of families that will be immediately plunged into poverty with this exit.

Iamblessed85:
I didn’t even need to read deep to see that it’s fake news.

1. Diageo is being replaced by Tolaram or so. Where’s the loss?

2. Exxon, Shell, ENI and other IOC’s aren’t leaving Nigeria. They are only divesting their onshore assets to focus on deep offshore assets due to inherent issues associated with onshore assets e.g lower hydrocarbon volumes, GHG emission, insecurity (self inflicted), etc. Infact one of the IOC’s i mentioned is about committing over 5bln dollars of fresh investment in Nigeria as we speak. That won’t make the news of course because it dosent fit the narrative.

God forbid that i’m pro APC but I’m unashamedly pro Nigeria. My whole thing is, the media is a very wicked and mind controlling enterprise. We must strive to form our own independent opinion as against being pulled on a string like puppets.

The west had their own fair share of problems many years ago but they did not prevail by running away to other countries. As for me, Nigeria is my Alamo (last stand) and if i perish here, so be it. At least, i’d never be regarded as one of those cowards that took flight at the very first sight of turbulence. I call them opportunists but then, who am i to judge really.

And yes, price of beans rose from 200 naira to 2k but the price of rent also increased from
1.5k to 3k in canada for same apartment. You dont hear them saying “Canada to the dogs”.!

Conduct free, fair and credible election, Tinubu will not see 3 million votes.

Nor be only 40 million, na 200 million

Egoveen:
They are even mobilising 40 million people to vote for Tinubu come 2027,you think say this people go ever get sense......they enjoy suffering and smiling.

Justiceganduje:
By the time Ebola Tinubu finishes with Nigerians, We will even be begging Ghana must go bag not to exit from Nigeria too. This is just the beginning.

You know, I have concluded that Bola Ahmed Tinubu does not know anything. He is stark empty. All he knows is to tax people more and more and enrich himself. That is the beginning and end of his brains. It seems Nigeria was so blighted by military rule that when he took over in Lagos and did small things like build BRT lanes, all of a sudden people said he was a genius.

He is nothing and knows nothing. I remember street lights didn't show up until Fashola came.

Iamblessed85:
I didn’t even need to read deep to see that it’s fake news.

1. Diageo is being replaced by Tolaram or so. Where’s the loss?

2. Exxon, Shell, ENI and other IOC’s aren’t leaving Nigeria. They are only divesting their onshore assets to focus on deep offshore assets due to inherent issues associated with onshore assets e.g lower hydrocarbon volumes, GHG emission, insecurity (self inflicted), etc. Infact one of the IOC’s i mentioned is about committing over 5bln dollars of fresh investment in Nigeria as we speak. That won’t make the news of course because it dosent fit the narrative.

God forbid that i’m pro APC but I’m unashamedly pro Nigeria. My whole thing is, the media is a very wicked and mind controlling enterprise. We must strive to form our own independent opinion as against being pulled on a string like puppets.

The west had their own fair share of problems many years ago but they did not prevail by running away to other countries. As for me, Nigeria is my Alamo (last stand) and if i perish here, so be it. At least, i’d never be regarded as one of those cowards that took flight at the very first sight of turbulence. I call them opportunists but then, who am i to judge really.

And yes, price of beans rose from 200 naira to 2k but the price of rent also increased from
1.5k to 3k in canada for same apartment. You dont hear them saying “Canada to the dogs”.!

Frog in slowly boiling water.

Multinationals are exiting, yet Tinubu is saying he is rescuing Nigeria and that Nigerian people will be sacrificed for that.

Justiceganduje:
By the time Ebola Tinubu finishes with Nigerians, We will even be begging Ghana must go bag not to exit from Nigeria too. This is just the beginning.

But his followers are saying inflation is a global problem and Nigeria isn't an exception, that those companies can go for all they care. My question is, why are they advising tinubu to open the borders to allow food items into the country? Is Benin or Niger Republic not also feeling the global inflation? Why must we open our borders and allow food into the country if they're truly as badly affected as Nigeria? Why are Guinness leaving for another african country of Kenya and not back to Europe? Why are oil companies leaving for other African nations?

As unintelligent as Tinubu's followers are, they claim tax was chasing them away . Whereas, Nigeria doesn't even tax them as much as other countries do which was also why their products were so cheap here. Coke in Nigeria isn't same price in Europe, likewise Guinness malt. This I know wella.

The problem of Nigeria is Tinubu himself, since 2015. Buhari knew nothing about governance but he went and sponsored him. To make the matter worse, he went and floated the naira after announcing the subsidy removal...which reasonable and godfearing leader does that? He only ended up enriching a few with the policy at the expense of the 100s of millions of the masses, including his illiterate supporters. If you try and say the truth here, you suddenly become an omo ale or ibo. They're so tribalistic to the core. Our choices in life will either make or mar us.

DeepSight:
You know, I have concluded that Bola Ahmed Tinubu does not know anything. He is stark empty. All he knows is to tax people more and more and enrich himself. That is the beginning and end of his brains. It seems Nigeria was so blighted by military rule that when he took over in Lagos and did small things like build BRT lanes, all of a sudden people said he was a genius.

He is nothing and knows nothing. I remember street lights didn't show up until Fashola came.

he didn't even build the BRT lanes. Fashola did all that.

Now that they have credited all the so-called development in Lagos to him, I wonder what Fashola or any other LASG governor would lay claim to, to contest in future...

Abagworo:
I suspect full blown war might be their reason.

baba we pray against cos we will all be affected including our families and all...all this tribal nonesense everywhere need to be clipped and our leaders need to seriously sit up...anyone with understanding on how scenerio analysis work can begin to see why they are leaving...multinationals are no fools to leave their cashcow especially the IOC(shell and all) divesting..its very very serious concern to anyone that loves the country and want peace...this is beyond our usual tribal banters and hatred...

BigDawsNet:
Chia your comment dey make me remember what Dr kemi used to say time to time “anarchy is looming “ that woman is very intelligent and she quickly left the country with his son… be like something may happen in the near future and it will shock the citizens.. dis companies leaving may not really means the economy is not working for them as u said… but they probably saw wot we ain’t seeing…

I just pray whatever storm is coming.. won’t carry us away

Amen

hope we wake up before its too late...