Chai!!!!! There was a con3

Buhari has killed this economy

Fake dollars will soon flood the market at the rate things are going.

LabiaMajoraDest:
Blame it on the gworo chewing dullard...

Can you read?

over to you President Buhari

Quakertellicus1:
Keep in mind that thanks to the fall in oil prices....we no longer have enough dollars to do anything.

And while Innoson was a good manufacturer.....his Achilles heeel was the failure to develop a LOCAL source for his cars.

A little more time spent on research will show you that most top vehicle manufacturers outsource most of their engine components.

Quakertellicus1:
Keep in mind that thanks to the fall in oil prices....we no longer have enough dollars to do anything.

And while Innoson was a good manufacturer.....his Achilles heeel was the failure to develop a LOCAL source for his cars.

Afonja spotted.

Buhari is trying. More fuel to his gongoni motor till he leads Nigerians that voted for him to the pit where they truly belong.

This part gave an insight to our present woe ' in an economy that has suffered decades of mismanagement' whoever wants to comment should consider this before blaming PMB!

www.nairaland.com/attachments/4179251_img20160512165442_jpg_pngb1f322aeead6889d8027ff0f698443ee

We know the economy is bad, but this PDP sponsored pressmen should take it easy on the FG. Without prejudice, any rational mind should foresee this fall in our economy b4 now.

dragonking3:
Afonja spotted.

You cannot have a good car manufacturing sector without high local content.

Thank you and goodnight.

celestialAgent:
I'm not supprised.

Innoson has never occured to me as a car manufacturing company but a car part compilation company, hence the reason for reliance on forex to import the parts to be coupled...

let's not embrace dependency, we need real productions

And what has anybody in your lineage built? How many people have you employed?
For over over 30 years, Dangote imported commodities like rice, sugar, cement, flour etc into Naija with generous govt support. So to suggest that import is a bad thing means that Dangote did a lot of bad things as well. BTW, no country actually manufactures cars 100%. Several components come from different countries. U.S. engine maker, Cummins, doesn't make any vehicle, but its engines are used by US, Japanese, Chinese , Indian and EU manufacturers,

" Buses without engines a metaphor used in recent times to describe the most populous black nation". Terrible and unfortunate. This government is so best described

If u ask me , na who I go ask

celestialAgent:
I'm not supprised.

Innoson has never occured to me as a car manufacturing company but a car part compilation company. Hence the reason for reliance on forex to import the parts to be coupled...

let's not embrace dependency, we need real productions!

Before you quote me, bear in mind that i'm not tribalistic, this is channelled at all Nigerians..

to be honest Nigeria does not have the technology to produce complex systems as an engine. forget.

celestialAgent:
I'm not supprised.

Innoson has never occured to me as a car manufacturing company but a car part compilation company. Hence the reason for reliance on forex to import the parts to be coupled...

let's not embrace dependency, we need real productions!

Before you quote me, bear in mind that i'm not tribalistic, this is channelled at all Nigerians..

Just to make you realize you are very silly, name one car manufacturer who manufacture %50 of its own part i said %50 to make it a bit easy for you.By the way I aint tribalistic as well cos I aint from the East.

celestialAgent:
[s]I'm not supprised.

Innoson has never occured to me as a car manufacturing company but a car part compilation company. Hence the reason for reliance on forex to import the parts to be coupled...

let's not embrace dependency, we need real productions!

Before you quote me, bear in mind that i'm not tribalistic, this is channelled at all Nigerians..[/s]

Why are you yorubaas like this? God...I have never seen hate and envy come out of a people like you people. This same hypocrite will not say anything when Dangote gets $800 million in exchange rate. Same thing happened to Ibeto, he was denied nearly $350 million in exchange but when he went to source it outside of Nigeria, the same federal government seized his goods, demanding where he got the dollar from. You yorubass are the biggest enemy of the Igbos not even devil. You people need help.

redcap:



A little more time spent on research will show you that most top vehicle manufacturers outsource most of their engine components.

And most of them do that when they become big enough to do that...and when they are earning enough profits to do so.

All successful car manufacturers start off as local champions....growing via production of cars with high local content..before expanding out of their country.(eg...South Korea's KIA , Hyundai and co were able to grow thanks to the opening of South Korea's first Iron and Steel complex in 1971).

I guess Japanese car manufacturers are an exception. But the trick they have used is produce high volume...so that they can have all the cash in the world to do what they want to do.

Innson's problem was not his lack of ideas...or that he was a bad businessman....but that his model was unsustainable so long as the local content was poor. If Ajaokuta had been working....Innoson would have grown easily in Nigeria..then Africa...then become big enough to start outsourcing production.

APC better fix Aajokuta.

celestialAgent:
I'm not supprised.

Innoson has never occured to me as a car manufacturing company but a car part compilation company. Hence the reason for reliance on forex to import the parts to be coupled...

let's not embrace dependency, we need real productions!

Before you quote me, bear in mind that i'm not tribalistic, this is channelled at all Nigerians..

Let me help your ignorance.

TOYOTA CAMRY is a Japanese model.

It might interest you that only engine is formulated and made by Toyota Japan. Every other parts from radio, tyre, glasses, battery, spark plugs etc are manufactured by different companies.

Motor corporation are known to couple vehicles made according to their specifications

[s][/s]

Quakertellicus1:




You cannot have a good car manufacturing sector without high local content.

Thank you and goodnight.

Did u read where it was written that the body has been manufactured save for d engines which they import but have no access to dollar? The ones they did is not local content?

U must an afonja

Quakertellicus1:


No, the parts were made abroad...and then assembled in Nigeria.

It is what companies like PAN, Volkswagen of Nigeria, Steyr, Leyland, and company used to do in Nigeria in the 1970's...they would import CKD (Completely knocked down ) parts into Nigeria and assemble them here into cars.

Solong as oil prices were high back then, and we could spend the dollars back then, we could do that with ease.

But back in 1973....construction work began on Ajaokuta Steel Complex...the idea being that all those car assembly plants would eventually make their cars in Nigeria...and end the imports of CKD parts. That unfortunately did not happen.

When oil crashed in 1982...the parts became too expensive to import , and eventually a new car became expensive in Nigeria...which is when the tokunbo industry began to grow....from the late 1980's on wards.(In 1975...you could get a new car for less than N6000. By 1990..that new car set you back N1million. By 1993....it was basically the government and the very rich that were buying new cars.)

What Innoson was doing was importing CKD parts from China and assembling them under the INNOSON marque. So long as the dollars were flowing in thanks to high oil prices....he could do that easily. But...once oil prices crashed, and the FG was forced to bring in restrictions on forex...that became difficult.

You see why GEJ's automotive miracle was a false mirage? We were just doing what we did in the 1970's....live on a false lie. You cannot have a good domestic car manufacturing industry without sufficient local content.

Innoson is a great man....where his problem was....his Achilles heel if you will ...was in the area of local content.

YOu where making a bit of sense until you made an impute of GEJ then I realized there was a zombieee

timilehin007:
Punish them o God

the more companies fold the more masses get affected, so be careful what you wish for

GogetterMD:
I thought the vehicles were exclusively made in Nigeria

Have you ever check a complete engine of other brand of cars? All the parts are not usually manufactured in one country. Even televisions, some of the parts are manufactured in another country. My phone is made in Hungary, while the earphones is made in Indonesia.

madapcmod:
[s][/s]

Did u read where it was written that the body has been manufactured save for d engines which they import but have no access to dollar? The ones they did is not local content?

U must an afonja

The body is imported from abroad...as is the engine.

Fact is...we cannot make the body in Nigeria....because we do not have Ajaokuta working.

And you cannot have a good car manufacturing system in Nigeria if you are not making the engines in Nigeria.

My name is not Afonja...and this news means that APC should fix Ajaokuta, invest in power and do all they can to make sure Nigeria is designing and making engines at home.(So...i am also shouting at APC. Criticism means offering your ideas about what needs to be done)

Because...you cannot keep on importing engines for the cars you make WHEN your source of forex is very very poor.

Therein lies the problem.

erico2k2:

YOu where making a bit of sense until you made an impute of GEJ then I realized there was a zombieee

Ah grow up .Zombies do not exist..

In the southeastern city of Aba – known as the “Japan of Africa” until the 1970s – more than 2,000 shoemakers have shut because they cannot pay for imported glue or synthetic leather, whose prices has surged due to the black market dollar rate.

The solution is replace imported parts with local content..

So, with all the various animals in Nigeria, we cannot get enough synthetic leather from them
Importing glue??

As a secondary school pupil, I was making glue / gum from bark of the cashew tree in our school compound....

We need to change our orientation..

celestialAgent:
I'm not supprised.

Innoson has never occured to me as a car manufacturing company but a car part compilation company. Hence the reason for reliance on forex to import the parts to be coupled...

let's not embrace dependency, we need real productions!

Before you quote me, bear in mind that i'm not tribalistic, this is channelled at all Nigerians..

Just shut it. You need real production abi. How many car manufacturers source compone gs from their countries entirely. Even manufacturing giant China sources the bulk of its vehicle engines abroad. Do it for several years and you transfer technology. Innoson is just ten years old and you don't expect them to be producing entirely onshore. It is not his fault that Nigeria has no steel plant, no petrochemical plant and no machine tools manufacturers.

What the government should be doing is to mandate the CBN to prioritise the sale of forex to industries that compliment its strategic developmental objectives and keep a hawkeye thst such funds are not diverted. Apart from petrochemicals and energy, I cannot see what else should get forex before heavy industry of which vehicle assembly is one.

edlion57:
It has gotten to a time we have to protest.
..

Surely. . The betterment of this country lies on youths revolutionary actions. True federalism would go a long way to alleviate our present situation. They are aware of that but, they are all enveloped by their selfish interest. Rise up my people! Rise up!!