₦airaland Forum

dominique:
Wholesalers and retailers are also complaining of terrible profit margin, we the consumers are complaing of over inflation of prices. Everybody seems to be on the losing side apart from those in power

weezii:
Hard times is here

ModsAreMad:
The Present Government is trying everything to put Nigeria's economy back on track.....

Seriously........ It wouldn't have been better with any one else......

ModsAreMad:
The Present Government is trying everything to put Nigeria's economy back on track.....

Seriously........ It wouldn't have been better with any one else......

Goddygee:
i wish u success bro, my younger brother is also taking part in d screening

bilulu:
the president isn't d problem but u guys his followers dat keep giving him applause even wen he's making d dumbest mistake........ first was d delay on appointments n u guys hailed him. look at were it has taken us now

wadetaw202:
The same way the government tried everything in 1984, abi? Stop deceiving yourself. Buhari is a complete dullard where economy is concerned. He will drive this country into perdition.

Creamz:
The profit margin is so thin now that you wonder if it makes sense to keep producing. The exchange rate of the dollar has made the raw materials so expensive. It's even worse if you have a bank loan. It's really terrible. Very terrible.

ModsAreMad:
The Present Government is trying everything to put Nigeria's economy back on track.....

Seriously........ It wouldn't have been better with any one else......

ANIEXTY:
What course is he going for ?

seguntijan:
I have been following closely the activities of this government and whenever I have the opportunity, I try to find out the opinions of people as regards the performance of this government.
I just realised that the hardship faced by many Nigerians is simply as a result of the fact that we have all benefited from the cycle of corruption.
The bricklayer, plumber, labourers, tiler are all complaining cos building construction has slowed down massively cause the thieves no longer have money to spend on real estate.
The car dealers are grumbling cause their cars are begging for buyers. Thieves can no longer spend wastefully.
The private school owners are shouting cos parents can no longer pay outrageous sums and are withdrawing their wards.
I was shocked when I learnt that in a popular private University in Abuja, parents are writing an undertaking at the account section for their children to be allowed to write exams...and it goes on and on.
The fact is, a lot of people are returning to what someone referred to as *'default mode'*. We mostly have been living above our real means.
We have been staying in houses that ordinarily our incomes can't afford. Our children going to schools we can't afford. Driving cars we ordinarily can't maintain. We have been living a fake life all along. Now the reality is before us and we can't accept.

Tinyemeka:
The worst form of ignorance is denial of self worth.

A Chinese proverb comes to mind:

He who knows not, and knows not that he knows not, is a fool...shun him.

He who knows not, and knows that he knows not, is willing...teach him.

He who knows, and knows not that he knows, is asleep...awaken him.

He who knows, and knows that he knows, is wise...follow him.

P.S. I'm only repeating a quote.

P.P.S. I'm including the Prayer for Nigeria in Distress and enjoin everyone to inculde same in their daily prayers. I believe we are already in desperate times for which the prayers address. If we could as a nation experience Divine intervention in 1998, then we can still overcome.

PRAYER FOR NIGERIA IN DISTRESS

All powerful and merciful Father
You are a God of justice love and peace,
You rule over all the nations of the earth,
Power and might are in your hands and no one can withstand you,
We present our country Nigeria before you,
We praise and thank you for you are the source of all we have and are,
We are sorry for all the sins we have committed and for the good deeds we have failed to do.
In your loving forgiveness keep us safe from the punishment we deserve.
Lord we are weighed down not only by uncertainties but also by moral, economic and political problems. Listen to the cries of Your people who confidently turn to You.
God of infinite goodness, our strength in adversity, our health in weakness, our comfort in sorrow
Be merciful to us your people; spare this nation Nigeria from chaos, anarchy and doom.
Bless us with your kingdom of justice, love and peace.
We ask this through Jesus Christ our Lord. Amen.

Goddygee:
medicine

Omooba77:
These are not be the best of times for manufacturers in Nigeria as they face high operating costs, scarcity of foreign exchange, low capacity utilisation and a drastic drop in profit margins. Latest figures from the National Bureau of Statistics at the manufacturing sector was feeling the negative impact of high operating costs as it recorded 2.98 per cent (year-on-year) in nominal Gross
Domestic Product growth rate in the first quarter of 2016. This was 4.23 percentage points lower than the growth recorded in the Q1 2015 and 9.91 percentage points lower than the growth in the fourth quarter of 2015 as a result of slower growth in 10 of 13 subsections of the manufacturing sector.

On a quarter-on-quarter basis, the sector slowed by 11.92 per cent. The contribution of manufacturing to nominal GDP was 9.33 per cent in the Q1 2016, lower than the 10.17 per cent recorded in the corresponding period of 2015, yet marginally 9.09 per cent in the Q4 2015. In the Q1 2016, the real GDP growth of the manufacturing sector slowed by seven per cent, 6.30 percentage points lower than the growth recorded in the Q1 2015 with oil refining, cement, food, beverage and tobacco and electricity activities weighing on growth.

Only recently, the Abuja Chamber of Commerce and Industry said the inability of manufacturers to secure foreign exchange for the importation of basic raw
materials for production had led to loss of job by over 50,000 workers. The Manufacturers Association of Nigeria also said about 10 manufacturing companies had written to the association indicating their plans to shut down. It said if they shut down operations, at least 2,000 people working in the companies would be thrown into the already overcrowded labour market. Experts said the infrastructural decadence affecting manufacturing activities over the years was compounded by the Central Bank of Nigeria’s directive excluding 41 items from accessing official foreign
exchange in Nigeria. Analysts said there was a need for the government and stakeholders in the sector to come up with innovative ways to enable industrialists to remain in business.

The President, MAN, Dr. Frank Jacobs, for instance, called on the Federal Government to consider what he described as “resource-based industrialisation” to boost
the utilisation of local raw materials for production. The resource-based industrialisation, according to him, involves the utilisation of the abundant natural resources in producing the products that the country
needs. This, he noted, was a more sustainable and lasting form of industrialisation when compared with the current import-dependent industrialisation. He said, “We are all aware that one of the greatest challenges manufacturers are facing currently is scarcity of raw materials for production, as a result of the prevailing
forex scarcity. “The resource-based industrialisation
policy involves the utilisation of the abundant natural resources in producing.

The changes we are canvassing will, no doubt, be at a huge cost as manufacturers may have to retool existing technologies and production processes. “Government, therefore, has a lot to do to make this new orientation of resource-based industrialisation successful. Government should create attractive incentives for investors who will engage in the processing of the abundant agricultural and minerals resources from
primary produce to secondary or intermediate products.
“This will go a long way in attracting potential and current manufacturers into the use of local raw material inputs, which will then be readily available locally.”

While admitting that the sector was faced with scarcity of foreign exchange, Jacobs said the association had had regular meetings with the Presidency and the CBN
leadership on the need to make forex more accessible to industrialists. He said the association would continue to press for the exclusion of some of the items that restriction was placed on for foreign exchange. He said with economic recession facing the sector, there was a need for the association to review its strategies and
face the challenges in order to survive. He said, “It is no time to be despondent. We will bond together and face the challenge with our time-tested skills and resolve. We need to review our processes and re-strategise to weather the storm, knowing that after the storm, comes
sunshine.”

Also speaking, the Officer in Charge, United Nation Industrial Development Organisation, Dr. Chuma Ezedinma, said while the country had enough potential to industrialise, there was a need to address the structural challenges militating against the progress of manufacturers.

http://punchng.com/manufacturers-worry-profit-margin-shrinks/

ModsAreMad:
The Present Government is trying everything to put Nigeria's economy back on track.....

Seriously........ It wouldn't have been better with any one else......