₦airaland Forum

DevilsEqual:
This vote of confidence in our economy is huge

They are believers like us
From here on, it can only get better

Have you worked in an Indian or Lebanese firm? The labor practices are zero and they will cut cost to a point where it is unethical. You desire your people to be slaves in their own country.

helinues:
Any issue with that?

Those who are leaving don't have choice than to go because our policies are no longer favouring them.

Replacement dey, let those who want to exit Nigeria business wise should do, opportunity for others

Come and work in a lebanese or an Indian firm and see what Nigerians go through. You are really wicked walahi

Before you jubilate, try working with an Asian or Turkish. I don't blame nairaland apcshit bushbabies whom are still eating free food to understand. Go out and hustle under these Asians them you would understand. Be ready to create more threads on how the Lebanese, Indians, Chinese and Co would treat you in the hellhole they call a company.

richmanrichard:
Before you jubilate, try working with an Asian or Turkish. I don't blame nairaland apcshit bushbabies whom are still eating free food to understand. Go out and hustle under these Asians them you would understand. Be ready to create more threads on how the Lebanese, Indians, Chinese and Co would treat you in the hellhole they call a company.

well said.. You nailed it

They are Nigérians and jealousy and bad belle no go ki una.

No go grab your brothers and consolidate do research and use local produce for manufacturing instead of this chasing dollar for importation. It’s a new dawn.

BossGerald:
And Lebanese

Tinubu Chicago bestie that is handling the "coastal highway to fraud" is a Lebanese

Saao:
so you rather work with asian company than western company? Be sincere to yourself. Try to work for Chinese, Indian, Lebanese or Turkish company and come back to comment

So what should we do?.
The earlier you African realised that the era of Dependancy on European and American handout are over, the better for you guys.
Either you develop locally or face Asian investors.
No more western investors in Nigeria

Islie:
Bloomberg: Western Multinationals Fleeing Nigeria Being Replaced by Asian, Turkish Firms




https://www.thisdaylive.com/index.php/2024/06/19/bloomberg-western-multinationals-fleeing-nigeria-being-replaced-by-asian-turkish-firms/

I understand how messed up the economy have been. I think Bola Ahmed Tinubu is well positioned to take this country to greater height. I believe in one Nigeria, I believe this country will be great again. God bless the federal republic of Nigeria.

SatoshiX:
Despite this detailed reports, some perpetual enemy of the country will still try to spin it to suit their negativity agenda.

Have you worked in a factory owned by an Indian or a Lebanese? is this suppose to be an achievement? people who do not respect Labor laws are taking over key business sectors and it is not a cause for worry!!!! you guys are just wicked and selfish.

Makunahatata:
🥱🥱🥱 good news pain am ..Sha no drink sniper 😹😹😹

Seems you did not even read just trolling around ignorantly

KaptainAfrika:
The features...
1. Reduced quality.
2. Horrible work conditions.
3. Willingness to drop something for regulators, and those folks in the National assembly, and law enforcement agencies.

I quite agrees with you on the
Asians,in Nigeria👇:
- Stinginess in Business
- Very horrible Work Conditions and Environments.
- Low quality Services/ Products.
- Low Payment to Workers, on Remuneration and Salaries,etc.
•But that is why a New Employment Policy For Workers- should be of Immediate Priority by National Assembly
- How did Indian ( 1.4 Billion People)emerged,as another Industrial-Power in the World Today- if not for dedication,dodgedness, believed in Self and determination to succeed?
- How come they are now into Space ,Science and Technology,etc,breakthrough?
•Nigeria, especially our National Assembly - should get Serious on so many Organisations in Nigeria,not just sitting comfortably at their Chambers and debating on but must be Visible,Vising Many Organisations, unexpectedly.e.g.On- NEPA/ DISCOS - 24/ 7 Provision Light to ALL Nigerians,Steel Industries, Exports Industries,etc.
•Provide- Policy -Frameworks - for Nigerians Working Environments- that any Employment and Employers won't be able to Manipulate and hand it Over to the Executives- States, Federal Institutions,MADs( Ministry, Agencies and Depts - for real Operations), Banks,other Services,with emphasis and Priorities to their OVERSIGHT FUNCTIONS - regularly.
Nigeria will be great.

able20:
So what should we do?.
The earlier you African realised that the era of Dependancy on European and American handout are over, the better for you guys.
Either you develop locally or face Asian investors.
No more western investors in Nigeria

you can ask your government officials that always run to foreigners in the name of foreign investors. The best is local investors not asians, they are not better than Africans. But as I said, that question should be directed at your government that pride in foreign investors as achievement

omoredia:
Lower quality investors u mean

Tolaram for its success isn't a low quality investor, please.

Let's fear God.

Calitoscassius:
Asian and Turkish firms are as corrupt as Naigerian FG and Tifnubu ofcourse, they would come to Naigeria where there are no regulations, health and safety rules, where they can bribe their way into everything, where they d pay no taxes and pay Naigerian workers peanuts.


And some ignoramuses believes this is good news.

It is good news na. It shows notwithstanding the challenges, there are firms that make money from selling to Nigerians. Nigerians who don't like the system can join and change things. Complaining does not solve the problem.

uduakabel:
hmmm, but jubilee syringe that left Akwa Ibom is a Turkish company

The factory has shut down? What exactly happened?

Gerrard59:
It is good news na. It shows notwithstanding the challenges, there are firms that make money from selling to Nigerians. Nigerians who don't like the system can join and change things. Complaining does not solve the problem.

True!

Musauzor:
APC propaganda as usual. When a multinational is exiting any country, it will sell itts assets to a low-grade company . The same harsh economic milieu will still face the new company. After a while the low-grade company will sell off everything in order to recoup its "investment". That is how it works .

Tolaram has been with Nigerians even before IBB SAP. Tolaram sources all its raw materials from the country.

Give kudos where it is due.

epondudu:
Your comment is full of hope and very reassuring.
God bless you.

you don't need to be an economist to know that Nigeria a country of 200 million people is a fertile ground for business if you know how to adapt to the local conditions,

dejavubobo1:
Asian companies are anti-welfare, corrupt, sub-standard and mediocre . They are typically suited to Nigerians and the government.
Regsrdless of how bad an economy is Asian companies go in and cart away huge profit.. your guess ?


The Europeans hardly cut-corners, they also don't tamper with starndards both in quality and labour welfare. If they do they know the implication can be severe. They are obviously not in the same Idle with the emilokan government.

Can Nigerian companies also create good standard products and not be anti welfare?

Rubyjade:
The western multinationals have a way of pampering their staffs which drives extra mile performance and staff retention up till retirement.
Their pay and allowance packages are top-notch, international opportunities for training and transfer, high score work life balance holiday visa
Whereas these Asian tigers and indigenous companies will squeeze life out of you with their peanut salaries and allowance

But when Nigerians were appointed to head Western companies, they reduced the largesse of workers and introduced similar work practices as the Asians. Worse still, the firms never survived. At least, the Asian firms are still standing. What stops us from building successful companies as Asians? That should be your interest. Nigeria is too big for only Western companies to operate.

Gerrard59:
But when Nigerians were appointed to head Western companies, they reduced the largesse of workers and introduced similar work practices as the Asians. Worse still, the firms never survived. At least, the Asian firms are still standing. What stops us from building successful companies as Asians? That should be your interest. Nigeria is too big for only Western companies to operate.

corruption

helinues:
Any issue with that?

Those who are leaving don't have choice than to go because our policies are no longer favouring them.

Replacement dey, let those who want to exit Nigeria business wise should do, opportunity for others

they are no more enjoying free subsidy

Our local manufacturers indeed...
Tolaram is incorporated in Singapore. are the Asians are not taking back dollars to their countries/HQ too?

PARADIZEPRIEST:
THOSE SOCALLED MULTINATIONALS WHO WORSHIp DOLLAR AND DEPLICT OUR DOMESTIC DOLLAR RESERVE ARE SERIOUS DANGER TO THE NATION,THEY SHOULD ALL LEAVE ASAP AND LET OUR LOCAL MANUFACTUERES TAKE THEIR PLACE.

When they come and it's not yielding fruit, will they stay?

They're probably here because the government need investors badly and so some insensitive will be given so after 5-7 years what next if the policies are not improving?

Greenfaces:
like you said... corruption. Buharis government did all of that with the cbn. What was the loan recovery rate. It was money down the drain again

Yes he did that to northern youths and farmers, not every region. Emefiele used it to favour the north cos of then hidden agenda.

omoredia:
So 1 tesla can build the pure water factory on ur street? U don't reason at all

Another daft person again
Did you read my post at all or you have sand inside your head.

Greenfaces:
truth be told, every election here is always between a devil and a deep blue sea. We do not have technocrats vying for that position. Its always dummies

You're right but the scenario can change only if we shun tribalism and religous bigotry. These are the 2 weapons they always use in each election. Money isn't a major factor because you can collect the money and still vote your desired candidate. It happened here in lagos. They came to my ward and LG and shared money but we collected it and voted our candidate and he won. I wish every state could he as enlightened as lagos.

Exousiang01:
Another daft person again
Did you read my post at all or you have sand inside your head.

U are a real illiterate

Observations on President Tinubu's Administration and Policies

Economic Hardship and Inflation
Since President Tinubu's administration took office, there has been a significant increase in the cost of living for the average Nigerian. Inflation rates have soared, with prices of essential goods and services escalating daily. The administration’s fiscal policies, including the removal of fuel subsidies, have directly impacted transportation costs, which in turn has affected the prices of food and other essential commodities.

Unemployment and Job Insecurity
The administration has struggled to create sustainable employment opportunities. Many companies are downsizing due to the harsh economic climate, leading to increased unemployment rates. Job insecurity has become a major concern as businesses face operational challenges and workers face the constant threat of layoffs.

Wage Stagnation and Pension Delays
One of the most pressing issues under Tinubu's administration is the stagnation of wages and the delayed payments to federal workers and pensioners. Despite the rise in the cost of living, there has been no corresponding increase in wages, leaving many families struggling to make ends meet.

Pension Crisis: Defunct Heritage Bank and NDIC Delays
A particularly distressing issue is the plight of retired federal workers who are supposed to receive their pensions through the defunct Heritage Bank. Despite repeated assurances, these pensioners have not received their dues. The Nigeria Deposit Insurance Corporation (NDIC), responsible for managing the transition and payment, has been slow in addressing the backlog of unpaid pensions. This delay has caused significant suffering for retirees who rely on these payments for their daily sustenance.

Contrasts in Government Salaries
While pensioners and federal workers face financial difficulties, President Tinubu and his cabinet members continue to receive their salaries and benefits without interruption. This disparity highlights the disconnect between the leadership and the everyday struggles of ordinary Nigerians. The administration’s failure to address the pension crisis reflects poorly on its commitment to the welfare of its citizens, particularly those who have dedicated their lives to public service.

Conclusion
The policies and administration of President Tinubu have resulted in widespread economic hardship and social unrest. The continuous delay in pension payments to retired federal workers is a glaring example of the administration’s neglect. As the president and top government officials continue to receive their salaries, the suffering of these pensioners, many of whom have served the nation faithfully, remains unaddressed. It is imperative that the government takes immediate action to resolve these issues and alleviate the pains of Nigerians who are bearing the brunt of these economic challenges.

Kukutente23:
Seems you did not even read just trolling around ignorantly

seems u lack simple logic and comprehension..read the story like 20 times slowly, u might get it

Good. Life continues.

Lolz