₦airaland Forum

zoedew:
Let’s debate the economy. If you were in the driver’s seat please outline your way out of the quagmire that corrupt and inept leaders placed Nigeria overtime while we were watching?

How well did you debate against GEJ 2015 and how did it pan out in hindsight?

helinues:
Apart from some of those who initially left are coming back like shell who's planning of reinventing $20bn in Nigeria, there have been better replacement to those who left.

Nothing missed

Defending rubbish is how you get your cheap monthly stipend. Shame!

angelboy01:
You sef na data boys representing APC. You go dey do neither or not there but na still same data boy you be.

I actually agree with racoon. Where we disagree is how we should fix the economy

Racoon wants to go back to subsidising the dollar . And fuel subsidy. the problem is both helped create the debt that worsened the economy.

Plus Tinubu self is running the economy badly. He is not making the economy productive . That's driving out a lot of companies.

But Racoon lied in some parts.

So, there it is

SpecialAdviser:
Just give me one reason it will ever be well with people that brought APSHIIT to Nigerian

why is there powder on his nose? You guys have started again. Are you saying that our amiable president and commander in Chief is a coke-sniffing criminal?

autoez:
Maybe, in a strange way, their departure is also a wake-up call for us. For decades, we have depended heavily on foreign companies, foreign capital, foreign products and foreign expertise to keep our economy moving. Now that some of them are leaving, perhaps it is time for Nigerians to look inward and ask ourselves a very painful but important question: what happens if we finally decide to build Nigeria for Nigerians?

I don't celebrate the hardship that comes with companies leaving. Ordinary Nigerians are the ones who feel the consequences through job losses, higher prices and reduced opportunities. But I also refuse to believe that Nigeria's destiny is tied permanently to the presence of foreign companies.

We have the people. We have the brains. We have the natural resources. We have the entrepreneurs. We have young Nigerians who are exceptionally talented and capable of building world-class businesses. What we have lacked for too long is the environment, consistency, leadership and courage to truly build.

So if a foreign company can no longer survive here, let us not simply sit down and mourn its departure. Let Nigerian entrepreneurs ask, “What can we build that will replace what they left behind?” Let our engineers create. Let our farmers produce. Let our manufacturers manufacture. Let our software developers build. Let our young people innovate instead of constantly looking for a way out.

And to the foreign companies that can afford to wait, wait. Those who believe in Nigeria and remain through the difficult years may eventually witness something extraordinary. Because Nigeria will not remain down forever.

There will come a time when the economy stabilises. There will come a time when the naira strengthens. There will come a time when industries rise again, infrastructure improves and the enormous Nigerian market becomes even more attractive.

And when that day comes, we must not be ashamed that we had to rebuild ourselves from almost nothing.

I genuinely believe Nigeria can rise again. Not because our problems are small, they are enormous but because the potential of this country is even greater.

Perhaps this is our painful season of learning to stand on our own feet.

Let us stop asking, “Who is coming to save Nigeria?” and start asking, “What can I do to help build the Nigeria I want my children to inherit?”

One day, I pray we will look back at these difficult years and realise that they were not the end of Nigeria's story, but the beginning of a new chapter.

Nigeria will be great again. Insha Allah. 🇳🇬❤️

As touching as your message, as much as it resonates hope, the question becomes, what is government doing? You can't live in luxury, send your kids abroad to school, visit UK hospitals for headache, then turn around to ask Nigerians to make the ultimate sacrifice.

If you use all your life sacrifice for Nigeria, which one you go enjoy? Meanwhile Wike and his kids are no making same sacrifice but living the life.

Flangelo12:
It's a hatchet job.

You know this is all politics.

Headline with some truth then pad it with various lies.

Exactly. You're 100% correct

olayinka63:
Local companies replaced most of these foreign companies, if not all. Once a foreign company exits and you did not feel their absence, just know that a local company is already offering a substitute product or services.

Localisation is a good way to go.

Please kindly give examples,thanks

If you hadn't added the keynotes, the information would have been misleading.. As this old boy recently left Lagos and shared a fence with pick n pay at that mumu odeku area..

Well done Sir OP

He didn't devalue, he stopped using foreign reserve to pump up the naira and then the naira automatically reset to its real value

But then, he should have used subsidy savings to sustain the naira gradually.

Removing the two at once was bad decision

Benedict44:
Tinubu’s biggest mistake was devaluing naira. He should have stopped after the subsidy removal and watched the economy until dangote refinery fully starts operation.

That single decision to devalue naira knowing fully well that we are an importing nation destroyed the economy and wiped out the middle class.

I believe other presidents before him saw that and avoided currency devaluations at all costs.

Dalohad:
How well did you debate against GEJ 2015 and how did it pan out in hindsight?

Your mindset is clear! It is made up!!

Exxon Mobil left then returned.

In all of these, Nigeria did not fall. Good riddance.

autoez:
Maybe, in a strange way, their departure is also a wake-up call for us. For decades, we have depended heavily on foreign companies, foreign capital, foreign products and foreign expertise to keep our economy moving. Now that some of them are leaving, perhaps it is time for Nigerians to look inward and ask ourselves a very painful but important question: what happens if we finally decide to build Nigeria for Nigerians?

I don't celebrate the hardship that comes with companies leaving. Ordinary Nigerians are the ones who feel the consequences through job losses, higher prices and reduced opportunities. But I also refuse to believe that Nigeria's destiny is tied permanently to the presence of foreign companies.

We have the people. We have the brains. We have the natural resources. We have the entrepreneurs. We have young Nigerians who are exceptionally talented and capable of building world-class businesses. What we have lacked for too long is the environment, consistency, leadership and courage to truly build.

So if a foreign company can no longer survive here, let us not simply sit down and mourn its departure. Let Nigerian entrepreneurs ask, “What can we build that will replace what they left behind?” Let our engineers create. Let our farmers produce. Let our manufacturers manufacture. Let our software developers build. Let our young people innovate instead of constantly looking for a way out.

And to the foreign companies that can afford to wait, wait. Those who believe in Nigeria and remain through the difficult years may eventually witness something extraordinary. Because Nigeria will not remain down forever.

There will come a time when the economy stabilises. There will come a time when the naira strengthens. There will come a time when industries rise again, infrastructure improves and the enormous Nigerian market becomes even more attractive.

And when that day comes, we must not be ashamed that we had to rebuild ourselves from almost nothing.

I genuinely believe Nigeria can rise again. Not because our problems are small, they are enormous but because the potential of this country is even greater.

Perhaps this is our painful season of learning to stand on our own feet.

Let us stop asking, “Who is coming to save Nigeria?” and start asking, “What can I do to help build the Nigeria I want my children to inherit?”

One day, I pray we will look back at these difficult years and realise that they were not the end of Nigeria's story, but the beginning of a new chapter.

Nigeria will be great again. Insha Allah. 🇳🇬❤️

Good submission but the government doesn't support start ups and loans. You need thousands of USD to fill the gap. Tinubu is not giving good grants, GEJ gave 10M (50k usd) for YOUWIN. I know companies still standing as beneficiaries. Can you name any under Tinubu 🤷‍♂️.

SpecialAdviser:
Just give me one reason it will ever be well with people that brought APSHIIT to Nigerian

APC constructed the second niger bridge
APC is reviving our railway line
APC stopped ASUU from going on strike
APC introduced Nelfund.

Apc is constricting roads thru out the country
APC makes dollar available

Tell me five things PDP did for 16 years and five things Peter Obi did as a governor

Iceberg3:
Please kindly give examples,thanks

ShopRite has been replaced by just right, bokkcu etc

We have more than 50 Bokkico outlet.

This is the state of the Nigerian business environment. These are huge companies that have left the country and no longer operating as they were just a decade ago.

What that means is not only revenue loss in taxes but also main job losses (from full-time staff to contractors and even distributors). That's a serious dent on the economy. But FG continues to emphasize macro-economic growth. That's not enough. Not even close.

Government should make and direct specific policies toward not only bringing multinationals to operate in Nigeria but also to encourage them to stay. The economy can not only be sustained by oil. Not in this 21st century. And I don't want to believe they don't know. They don't seem willing enough and too focused on what benefits them only.

olayinka63:
Local companies replaced most of these foreign companies, if not all. Once a foreign company exits and you did not feel their absence, just know that a local company is already offering a substitute product or services.

Localisation is a good way to go.

Please mention the local companies that replaced them!

zoedew:
Your mindset is clear! It is made up!!

Just as your is inclined towards having a drug dealer and corrupt man continue to wreck the country recklessly.

Racoon:
"Nigeria remains a relatively low-income economy with widespread poverty, high unemployment and underemployment, and a very young population. So many Nigerians borrow to meet basic living expenses or finance small businesses rather than fund discretionary consumption.

The result is that households with already limited incomes must devote a significant portion of their cash flow to essential expenditure. Foreign investors do not invest in population statistics, they invest in addressable markets. And an addressable market is ultimately determined by how many people can actually afford to buy what a company is selling....."

Chai Poverty rate under Obasanjo and Bola.
Baba Jonathan pls forgive us

More than 200 companies left 1999 to 2023

Racoon:
Companies That Exited Nigeria In Past Five(5) Years, And Why


source

Can we also have list of companies that have invested in Nigeria for the same period under scope?

autoez:
Maybe, in a strange way, their departure is also a wake-up call for us. For decades, we have depended heavily on foreign companies, foreign capital, foreign products and foreign expertise to keep our economy moving. Now that some of them are leaving, perhaps it is time for Nigerians to look inward and ask ourselves a very painful but important question: what happens if we finally decide to build Nigeria for Nigerians?

I don't celebrate the hardship that comes with companies leaving. Ordinary Nigerians are the ones who feel the consequences through job losses, higher prices and reduced opportunities. But I also refuse to believe that Nigeria's destiny is tied permanently to the presence of foreign companies.

We have the people. We have the brains. We have the natural resources. We have the entrepreneurs. We have young Nigerians who are exceptionally talented and capable of building world-class businesses. What we have lacked for too long is the environment, consistency, leadership and courage to truly build.

So if a foreign company can no longer survive here, let us not simply sit down and mourn its departure. Let Nigerian entrepreneurs ask, “What can we build that will replace what they left behind?” Let our engineers create. Let our farmers produce. Let our manufacturers manufacture. Let our software developers build. Let our young people innovate instead of constantly looking for a way out.

And to the foreign companies that can afford to wait, wait. Those who believe in Nigeria and remain through the difficult years may eventually witness something extraordinary. Because Nigeria will not remain down forever.

There will come a time when the economy stabilises. There will come a time when the naira strengthens. There will come a time when industries rise again, infrastructure improves and the enormous Nigerian market becomes even more attractive.

And when that day comes, we must not be ashamed that we had to rebuild ourselves from almost nothing.

I genuinely believe Nigeria can rise again. Not because our problems are small, they are enormous but because the potential of this country is even greater.

Perhaps this is our painful season of learning to stand on our own feet.

Let us stop asking, “Who is coming to save Nigeria?” and start asking, “What can I do to help build the Nigeria I want my children to inherit?”

One day, I pray we will look back at these difficult years and realise that they were not the end of Nigeria's story, but the beginning of a new chapter.

Nigeria will be great again. Insha Allah. 🇳🇬❤️

What exactly is wrong with some of you? Businesses are folding and you said its good, these are the FDI you celebrate here. Do you know how many smaller local businesses have died and the ones you supported their demolition?

Tinubu went to Europe to attract investors!

Racoon:
Companies That Exited Nigeria In Past Five(5) Years, And Why


source

emperor4love:
yes like the Gsk that produce effective antibiotics,are be replaced by agbo seller increasing kidney ailment, that's the localization

Fidson Pharmaceuticals produces some of GSK drugs. Go and research it.

Sermwell:
Please mention the local companies that replaced them!

Fidson Pharmaceuticals produces GSK drugs
Chappal Energies replace Equinor
A lot of local supermarkets stores replace shoprite
A lot of local ride hailing replace uber

Iceberg3:
Please kindly give examples,thanks

Fidson Pharmaceuticals produces GSK drugs
Chappal Energies replace Equinor
A lot of local supermarkets stores replace shoprite
A lot of local ride hailing replace uber

Dalohad:
Just as your is inclined towards having a drug dealer and corrupt man continue to wreck the country recklessly.

You are wrong. I asked you to debate issues not personalities.

Imagine telling somebody to give you somebody to run your company, and ends up giving you a failure.
I'm sure you'll regret trusting such a person for the rest of your life.
As for tinubu supporters, they are destined to survive on agbado, because they are perpetually corn-fused.

If you believe that tinubu came to make Nigeria a better place then you are mad