₦airaland Forum

TenQ:
You speak too much grammar.

Nigeria does NOT have the culture of investing in upcoming ventures. Period!!

It can be two ways sha
People have invested in the past only for government policies to kill it.
Take the example of Sir Michael Otedola investing in a fluorescent lamp company only for government to grant license to indians to import what is already produced in country, killing the local company.
If you invest in a new venture today
Be sure that you won't survive competition from an international rival who has access to more money than you..... They only need look for an importer and make him their sole distributor and a corrupt government official to issue licenses that will undermine your company.
See what Dangote is facing, and he's Africas richest man o.

I would rather go to invest in an innovation that will be useful for Nigeria in a place that has low production cost like China and import into Nigeria.
Afterall if you produce here at a high cost an individual can produce the same product in china at a lower cost and price you out of the market.

And to think some months ago, when I said Elon Musk was not to be used in the same sentence with Nigerian Business men, one person said my stance was because he was white!

CoronaVirusPro:
What exactly is the monopoly we talking about here!

Every nation supports the best businesses that support the country workforce and also generate revenue.

What leveled playing ground are we talking about here? That the government should give every Nigeria a billion dollars for start up?

It doesn’t work that way. In any country, big businesses are ALWAYS supported in various forms through low interest loans, tax exemptions and even direct investment.

Let me use the crude oil refining licenses as a case study. If I am. It wrong, over 10 licenses were issued and less than 3 hit the ground. Do we call those 3 monopolist since others could not?

Nothing like the government is creating monopolist. Nigeria is doing same thing every government in the world does.

China does not support all the businesses in its country but heavily invested on the front runners like Huawei, BYD and ByteDance.

Yes, creating enabling environment is a valid point, but supporting and creating a leveled playing ground for ALL businesses to thrive is outrightly impossible.

Mr. A who needs one million Naira loan and employs 10 people cannot have same interest and tax exemptions like Mr. B who needs one billion dollars and employs a thousand hands.

There is no leveled playing grounds anywhere on Earth.

Most of you don't even read before commenting off point

Kukutente23:
That's all?
I thought you'll help him become elite with the way you've been going about saying everyone on the forum are all doing well
You've found someone now all you can say is eyaah
Shame on you

Sorry is his case. He is living a hopeless life.

Baxilexi:
On what website did the FG publish these licenses?
How much did it cost?
The loans Emefiele approved for Dangote could any other person access it?

Based off ‘fair competition laws’, it is in the country’s interest that the other 22 licenses are gotten and the government should have equally helped them succeed.

Go and check the amount of money Emefiele shared for several famers across Nigeria during their failed "rice revolution" , ....how did it end? If this was directed to very very few farmers, it would have been successfully today.

When they allow very few to import "paddy Rice", I biliv you know how the prices came down.

No nation bring money for majority, if they truly want to revolutionalise the sectors, they do that in other to be able to effectively monitor the actors in the sector.

Difrent:
It can be two ways sha
People have invested in the past only for government policies to kill it.
Take the example of Sir Michael Otedola investing in a fluorescent lamp company only for government to grant license to indians to import what is already produced in country, killing the local company.
If you invest in a new venture today
Be sure that you won't survive competition from an international rival who has access to more money than you..... They only need look for an importer and make him their sole distributor and a corrupt government official to issue licenses that will undermine your company.
See what Dangote is facing, and he's Africas richest man o.

I would rather go to invest in an innovation that will be useful for Nigeria in a place that has low production cost like China and import into Nigeria.
Afterall if you produce here at a high cost an individual can produce the same product in china at a lower cost and price you out of the market.

You are now speaking as this is the full truth!
Happy Sunday!

Softmirror:
Sorry is his case. He is living a hopeless life.

Under renewed hope

Kukutente23:
Under renewed hope

Now you are talking.

lawani:
Instead of spending money on frivolities as a company, take your problems to the academia by sponsoring research. It is a growth strategy

Why must it be academia?? Is it forbidden for a company to have it own research and development unit?? Research is not for academia only, professionals also understands research most times better than academia.

Cmeo:
Why must it be academia?? Is it forbidden for a company to have it own research and development unit?? Research is not for academia only, professionals also understands research most times better than academia.

Research is research. Using the academia that is already lying there is cheaper

lawani:
Research is research. Using the academia that is already lying there is cheaper

Academia that has been lying there whose only contributions are only just written papers upon papers and citations without anything tangible to show for it even in their immediate academia environment?

Man, forget it, we know them as far as Nigeria's academia are concerned. I can't talk of academia in other clines though.

Cmeo:
Academia that has been lying there whose only contributions are only just written papers upon papers and citations without anything tangible to show for it even in their immediate academia environment?

Man, forget it, we know them as far as Nigeria's academia are concerned. I can't talk of academia in other clines though.

Even the professionals you are talking about are still academia. They are educated. The only advantage of using the established academia is that that is already their job, they have salaries already and it will therefore cost you less

Baxilexi:
On what website did the FG publish these licenses?
How much did it cost?
The loans Emefiele approved for Dangote could any other person access it?

Based off ‘fair competition laws’, it is in the country’s interest that the other 22 licenses are gotten and the government should have equally helped them succeed.

Loan ke
Federal government bought a stake in the refinery which dangote was even complaining they weren't paying

And yes, federal government also gives loans to other companies in Nigeria, nothing new

Rindo69:
And to think some months ago, when I said Elon Musk was not to be used in the same sentence with Nigerian Business men, one person said my stance was because he was white!

Elon musk's business one of the largest federal fundings and subsidizes in America

Go check out the EV mandate that made Tesla stocks blow up

slimthugchimee2:
Elon musk's business one of the largest federal fundings and subsidizes in America

Go check out the EV mandate that made Tesla stocks blow up

Leave the long talk..is he an innovator or not? Are any of our top 5 billionaires in Nigeria innovators?

That is the point, the post wasnt talking about where the funding comes from

Rindo69:
Leave the long talk..is he an innovator or not? Are any of our top 5 billionaires in Nigeria innovators?

That is the point, the post wasnt talking about where the funding comes from

Neither is Elon musk
He's a rich man that pays smart people to innovate for him

Hes a good business man, not an innovator

By the way, Tesla that made him the richest wasnt founded by him

jaxxy:
Monopoly is not a crime or unusual practice. it has its place in new and developing sectors especially which are cost intensive and investors must be protected. However this should only be for limited time frames.

America once had monopoly players in many sectors until it was broken and deregulated..

JD rockefeller was an American monopolist and one one the wealthiest men in America..

When the sector grew and was strong enough to sustain itself and bring in more players his monopoly was broken by the government.

So do you trust that our politicians will ever have the balls to breakup the Dangote group?

Just because it worked that way the US doesn't mean we have the same political environment for that to happen here.

On the other side you have the south korea model, where a few companies make up the entire county's GDP, and these corporations become inseparable from the government, a large chunk of the government's job becomes trying to make sure they never fail (which shouldn't be the case in a capitalist system), and the families that own those companies become filty rich neo-royalty and above the law.

Then companies need to learn the culture of taking their problems to the academia. The academia can solve any problem

Only God can solve all problems

IMAliyu2:
So do you trust that our politicians will ever have the balls to breakup the Dangote group?

Just because it worked that way the US doesn't mean we have the same political environment for that to happen here.

On the other side you have the south korea model, where a few companies make up the entire county's GDP, and these corporations become inseparable from the government, a large chunk of the government's job becomes trying to make sure they never fail (which shouldn't be the case in a capitalist system), and the families that own those companies become filty rich neo-royalty and above the law.

Dangote doesn't have full monopoly anywhere not in cement or refinery. There are other players there.

Some people are so intelligent that they will analyse the side effects of what many are applauding. What a wonderful analysis!!!

Softmirror:
Now you are talking.

The renewed hope is a fraud then

slimthugchimee2:
Neither is Elon musk
He's a rich man that pays smart people to innovate for him

Hes a good business man, not an innovator

By the way, Tesla that made him the richest wasnt founded by him

So why have Dangote and Co not paid smart people to innovate? Cos Nigerians are just consumers and dont deserve innovations? You need to have vision of where you want to go and then get smart people like you said to execute your vision...thats innovation. So Dangote feels all we need in Nigeria are sugar, cement and petrol ...Otedola feels we need to read his book on how he became rich.

lawani:
Even the professionals you are talking about are still academia. They are educated. The only advantage of using the established academia is that that is already their job, they have salaries already and it will therefore cost you less

While I understand you, but cost for improving an existing product or making a new product is not really a major concern for business people (especially with large market like Nigeria) unlike the value it would add to consumers. When product gives value to consumers, then cost become less issue except in a downturn economy like now, even then volume will help bear the cost so far it meets consumers need.

Baxilexi:
What social amenities do you enjoy as a Nigerian? Subsidized transport? Housing? Free primary and secondary education? Healthcare? Unemployment benefits? Disability benefits?

I believe we are in a capitalist society already, because most Nigerians are into sole proprietorships.

no we are not
Govt controls 99% of production via land use act, nepa license, 100% of security visa gun license, 100% transport via roads /rail /ports.
We are fully socialist oga

Rindo69:
So why have Dangote and Co not paid smart people to innovate? Cos Nigerians are just consumers and dont deserve innovations? You need to have vision of where you want to go and then get smart people like you said to execute your vision...thats innovation. So Dangote feels all we need in Nigeria are sugar, cement and petrol ...Otedola feels we need to read his book on how he became rich.

According to this your point it means that the fact dangote set a goal to build a 20b dollar refinery, one of the largest projects in Africa and completed it also makes him an innovator
Even though he surely doesn't even know how a refinery works

According to this your point, innocent Chukwuma is also an innovator even though he knows nothing about how cars work
(Simple) He hires engineers that thinks for him and the uses his wealth and influence to get government contracts, just like Elon musk

dangote and otedola are businessmen and will look to maximize profit and in a business perspective, it's silly to make 100,000 dollar electric vehicles that no Nigerian can afford or spending half of his network to making rockets that no organization in Nigeria can use


Also Google proforce and terrahaptix, they are nice tech companies in Nigeria, private owned

youngsahito:
Dangote is also enjoying this monopoly in the petroleum industry. The govt refused to fix state owned refineries putting everybody in the country at the mercy of Dangote.
Tinubu is a corrupt man that only make way for his cronies that is why Dangote is singing praises of me. Oju yobo

In 2025, you are still talking about government refineries?
What kind of backwardness is that?

flokii:
Monopoly kills the economy of any nation.. no matter the genius you put at the helm of affairs, once monopoly is allowed to thrive, the economy is bound to colapse.
Healthy competition on the other hand grows the economy, create employment, promote standards, provide varieties for consumers, etc.

The best model to grow any economy is by "healthy competition" not by creating monopolists masquerading as businessmen, richest black man and whathaveyou.

Monopoly and healthy competition, one the biggest fairlytales believed by most Nigerians.

Gboss247:
In 2025, you are still talking about government refineries?
What kind of backwardness is that?

Backwardness as how, don't they belong to the govt anymore? What is stopping the corrupt govt from giving it to private individuals to manage and they share the profit at the end of the year or a total sales of them.

youngsahito:
Backwardness as how, don't they belong to the govt anymore? What is stopping the corrupt govt from giving it to private individuals to manage and they share the profit at the end of the year or a total sales of them.

When Obasanjo approved the sales of Port Harcourt refineries years, NLC, Pengassan etc didn't protest until the sales was reversed by late Yar' dua.