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Erisco Foods Shuts Down Nigeria’s Factory, Relocates To China - Business (2) - Nairaland

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Re: Erisco Foods Shuts Down Nigeria’s Factory, Relocates To China by Coldfeet(f): 12:04pm On Nov 02, 2016
When it was just recent he opened a factory in Lagos? This is bad cry well if moving will keep your business afloat by all means do.

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Re: Erisco Foods Shuts Down Nigeria’s Factory, Relocates To China by Emmysteve(m): 12:04pm On Nov 02, 2016
SAI BABA
Re: Erisco Foods Shuts Down Nigeria’s Factory, Relocates To China by Nobody: 12:05pm On Nov 02, 2016
The suffer wey dey road dey waka come Nigeria go worst pass Famine in Egypt during the era of Joseph. Only God can intervene for this country wahala. The one wey dey even annoy me pass is despite the situate people in public office are still looting as we speak.

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Re: Erisco Foods Shuts Down Nigeria’s Factory, Relocates To China by erico2k2(m): 12:05pm On Nov 02, 2016
ImoRiver:
Stupid Nigerian mentality. Government should ban importation of anything Erisco into the country. He's looking for foreign exchange to operate a local industry and we all know Nigeria is experiencing foreign exchange scarcity as a result of low oil output and prices. Business environment in Nigeria is harsh and requires total patriotism to resist temptation of going to already developed countries like China.
MayB ur village chiefs can manufacture parts he uses to service his machines then he won't need forex
Your village elders can manufacture preservatives for the paste as well then he won't need forex for that too.

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Re: Erisco Foods Shuts Down Nigeria’s Factory, Relocates To China by Nobody: 12:06pm On Nov 02, 2016
Nawa o

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Re: Erisco Foods Shuts Down Nigeria’s Factory, Relocates To China by david22uu(m): 12:06pm On Nov 02, 2016
ImoRiver:
Stupid Nigerian mentality. Government should ban importation of anything Erisco into the country. He's looking for foreign exchange to operate a local industry and we all know Nigeria is experiencing foreign exchange scarcity as a result of low oil output and prices. Business environment in Nigeria is harsh and requires total patriotism to resist temptation of going to already developed countries like China.
Oga get sense small na

He his looking for foreign exchange to create more employment
You govt give this dollar to people who import tothpick

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Re: Erisco Foods Shuts Down Nigeria’s Factory, Relocates To China by IVORY2009(m): 12:06pm On Nov 02, 2016
mekuzi09:
Ngwa, where are the Buhari's ninja, make una come defend una oga'o.

cc Omenka, Buhari Special Assisstant on Nairaland Affairs, come and defend your master now. heheehe cheesy


grin grin

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Re: Erisco Foods Shuts Down Nigeria’s Factory, Relocates To China by deking(m): 12:08pm On Nov 02, 2016
What is their strategic plan? To export those items from China to Nigeria or to have the Chinese consume them?

If the former is the case, how do they intend to fund the import of the finished product from Nigeria if they couldn't fund import of raw materials. if the later then I doubt if that business will thrive with the same mentality in that clime.

In all, I believe this news is just an attempt to blackmail the government.

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Re: Erisco Foods Shuts Down Nigeria’s Factory, Relocates To China by k2kay(m): 12:08pm On Nov 02, 2016
A certain epitome of cluelessness said a few weeks ago that investors are falling over themselves to come do business in Nigeria. whereas, the reality is they are bailing out from the country. Smh

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Re: Erisco Foods Shuts Down Nigeria’s Factory, Relocates To China by erico2k2(m): 12:09pm On Nov 02, 2016
bigass:
This man is a forex thief how many machinery do you want to buy. You are an agricultural company that depends largely on raw local materials..... tell me what does he need dollars for.
Get educated
Something as small as preservatives needs forex

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Re: Erisco Foods Shuts Down Nigeria’s Factory, Relocates To China by Redoil: 12:10pm On Nov 02, 2016
sarrki:
Hmmm
Hmmmm
ur lord and master has proven to be dunber than you

3 Likes

Re: Erisco Foods Shuts Down Nigeria’s Factory, Relocates To China by Hiploko(m): 12:11pm On Nov 02, 2016
According to Zombies, the company is kwarrapt grin

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Re: Erisco Foods Shuts Down Nigeria’s Factory, Relocates To China by erico2k2(m): 12:12pm On Nov 02, 2016
deking:
What is their strategic plan? To export those items from China to Nigeria or to have the Chinese consume them?

If the former is the case, how do they intend to fund the import of the finished product from Nigeria if they couldn't fund import of raw materials. if the later then I doubt if that business will thrive with the same mentality in that clime.

In all, I believe this news is just an attempt to blackmail the government.
When you do have the free times.see the tax brakes and insentives given to investors in China . You will see why IG coy have thier production lines in China .
Check this just cos you are exporting %60 of what you manufacture you get to pay just %30 in coprate tax would that not make up the shortfall for the change of location ?

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Re: Erisco Foods Shuts Down Nigeria’s Factory, Relocates To China by erico2k2(m): 12:16pm On Nov 02, 2016
abu12:


i dont understand, is erisco food into packagin b4? why is he looking for money to import RAW MATERIAL and PROCESSING MACHINE?

he want forex to import raw material, what kind of raw material did he want 2 import, is't tomato from china? dangote build his tomato procesing machine locally here in kano. what kind of machine did he want in processing tomatoes, .
Ahah stop embarassing yourself

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Re: Erisco Foods Shuts Down Nigeria’s Factory, Relocates To China by gabbytabby: 12:17pm On Nov 02, 2016
Actually preferential rate forex need not be provided for every Tomato, Dick and Harry

It's unfortunate the loss of his business and employment for his staff. Tomato paste is neither critical or essential so no subsidised forex.

Bolustic:
The president has said it all, those who want to leave should leave.

You know our brothers with playing victims cards, I see many of them claiming Dangote was given access to dollars for his refinery but they overlooked the fact that Dangote Tomato factory stopped production too not quite long. Dollars cannot be provided for every Dick & Harry, you know how many billionaires would be created at the detriment of the economy?

Besides, politics and business is all about interests, when GEJ was there, you people were busy running around for his reelection bid forgetting your economic interests like things like this but Dangote seized the opportunity of his co-Aboki being in power to further his interests. Our brothers are poor politicians.

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Re: Erisco Foods Shuts Down Nigeria’s Factory, Relocates To China by lovat(m): 12:19pm On Nov 02, 2016
Bolustic:
The president has said it all, those who want to leave should leave.

You know our brothers with playing victims cards, I see many of them claiming Dangote was given access to dollars for his refinery but they overlooked the fact that Dangote Tomato factory stopped production too not quite long. Dollars cannot be provided for every Dick & Harry, you know how many billionaires would be created at the detriment of the economy?

Besides, politics and business is all about interests, when GEJ was there, you people were busy running around for his reelection bid forgetting your economic interests like things like this but Dangote seized the opportunity of his co-Aboki being in power to further his interests. Our brothers are poor politicians.

Are you really sane with this your comment or you are basking in your ignorance.

A kid like you floating in tribalism really calls for concern about the school that issued you that certificate

7 Likes

Re: Erisco Foods Shuts Down Nigeria’s Factory, Relocates To China by ephi123(f): 12:20pm On Nov 02, 2016
It's ridiculous how some people are still adamantly defending this Buhari's wicked government despite the untold hardship businesses and individuals are facing.

You all are going to get your karma sooner or later. Continue defending your pay, it will be of no use to you when the time comes.

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Re: Erisco Foods Shuts Down Nigeria’s Factory, Relocates To China by obailala(m): 12:20pm On Nov 02, 2016
Too bad... The last seems to not have been heard of this forex scarcity wahala..

1 Like

Re: Erisco Foods Shuts Down Nigeria’s Factory, Relocates To China by armadeo(m): 12:20pm On Nov 02, 2016
dunkem21:
Please watch your comments o to avoid harrasments..

May the Almighty protect his people.

Dude who is harassing you. This us the third comment is see you have made stating this.

What's up

2 Likes

Re: Erisco Foods Shuts Down Nigeria’s Factory, Relocates To China by iyatrustee(f): 12:21pm On Nov 02, 2016
I do not understand something here.

I thought i read some weeks back that Erisco foods had problems accessing forex and stopped operations. some days later, the supposed problems according to him had been resolved.

Which one come be dis again about relocating to china?


Anyone who is enlightened should please educate me.

1 Like

Re: Erisco Foods Shuts Down Nigeria’s Factory, Relocates To China by passyhansome(m): 12:22pm On Nov 02, 2016
freeze001:




Did u see this part? Or u have selective reading disorder? Are the enumerated concerns in the op not obviously designed to frustrate his business? So should he fold his hands and pull out of business because Nigeria is having selective forex challenges? Have u read anywhere that Dangote cannot access forex? Why not require d FG to encourage indigenous manufacturers? Dirty Afonja!

4 Likes 1 Share

Re: Erisco Foods Shuts Down Nigeria’s Factory, Relocates To China by OBAGADAFFI: 12:24pm On Nov 02, 2016
Bolustic:
The president has said it all, those who want to leave should leave.

You know our brothers with playing victims cards, I see many of them claiming Dangote was given access to dollars for his refinery but they overlooked the fact that Dangote Tomato factory stopped production too not quite long. Dollars cannot be provided for every Dick & Harry, you know how many billionaires would be created at the detriment of the economy?

Besides, politics and business is all about interests, when GEJ was there, you people were busy running around for his reelection bid forgetting your economic interests like things like this but Dangote seized the opportunity of his co-Aboki being in power to further his interests. Our brothers are poor politicians.


Everything is not about tribalism.

Learn to read properly before making comments.

They won’t give us forex to import machinery, machine spare parts and raw materials for processing Nigerian fresh tomatoes into paste in our Lagos factory and they won’t give us approval to use our own money (about $460,000) generated from our foreign operations to import our raw materials. They won’t also check dumping because of the powerful nature of the import cabals.

Aisha Buhari commissions Erisco Foods tomato paste plant
https://www.naij.com/737147-see-aisha-buhari-toyin-saraki-spotted-yesterday-photos.html

1 Like

Re: Erisco Foods Shuts Down Nigeria’s Factory, Relocates To China by peaceMma(f): 12:24pm On Nov 02, 2016
I dnt blame d man,He said it earlier on d #MoneyShow that if d country's going real hard he wud relocate to China with his family ,Buh Nw,he relocated with his Business....

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Re: Erisco Foods Shuts Down Nigeria’s Factory, Relocates To China by Bethelwealthy(m): 12:24pm On Nov 02, 2016
..........and CONCENTRATED zombies will say "he's a Igbo YUUT undecided The country's Olympos is rapidly falling cry Lauwd Have Moorcy.......

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Re: Erisco Foods Shuts Down Nigeria’s Factory, Relocates To China by caprini1: 12:27pm On Nov 02, 2016
people wonder why businesses relocate to china,simple , whatever gives the manufacturer comfort in China,the Chinese government Improves on it,even American companies have bases in China.


Erisco did his best,even tried to pally bubu his wife and the Federal govt.,but it's like this forex issue is irredeemable for now .

Only the strongest will survive this times.

1 Like

Re: Erisco Foods Shuts Down Nigeria’s Factory, Relocates To China by MrGerald(m): 12:27pm On Nov 02, 2016
bigass:
This man is a forex thief how many machinery do you want to buy. You are an agricultural company that depends largely on raw local materials..... tell me what does he need dollars for.
Your won't do well in terms of business, the way you reason though

1 Like

Re: Erisco Foods Shuts Down Nigeria’s Factory, Relocates To China by aisammy4: 12:28pm On Nov 02, 2016
mekuzi09:


http://sunnewsonline.com/erisco-foods-shuts-down-nigerias-factory-relocates-to-china/

It is quite unfortunate that the CBN monetary policy has failed Nigerians. The government have to wake from slumber and revive this economy. Huge Investments are closing down with huge amount tied up in banks and nothing is done about it. President Buhari should have a rethink on all that is happening in Nigeria oh, if not, all those his fancy diplomatic relations and travelling to bring in more investment would be useless. Nobody want to lose his investment to bad economy.

Anyway, oga, no make use put ban on importation of processed tomatoes oh, because, importing from china could make children go chinko...lol!

1 Like

Re: Erisco Foods Shuts Down Nigeria’s Factory, Relocates To China by Nobody: 12:31pm On Nov 02, 2016
sarrki:
Hmmm

Hmmmm
open your mouth and say something, what is hmmm hmmm?, people just lost their jobs as a result of this, surely there must be something meaningful you can say, cos I have seen you in action, this is very unlike you, or are you too overwhelmed to find words to comment?

1 Like

Re: Erisco Foods Shuts Down Nigeria’s Factory, Relocates To China by ivandragon: 12:35pm On Nov 02, 2016
when Erisco recently commissioned a NEW plant, some people were praising PMB & how he has 'revived' the business (conveniently forgetting that Erisco was EXPANDING his business because of the backward integration programme of the last government).

now that things have gone south, some retards are asking 'who Erisco EPP'?

are some people so shallow that the fail to realise the damage being done to the economy by this direction less regime?

Automobile assembly plants are also shutting down, banks are laying off more staff, small & medium scale businesses are shutting down, farmers are worried about the unavailability of fertiliser for their crops...

& some retards are blaming the hard working business men who are doing their very best to ensure the economy improves, simply because they asked for FX?

6 Likes

Re: Erisco Foods Shuts Down Nigeria’s Factory, Relocates To China by Nobody: 12:38pm On Nov 02, 2016
modath:




The enlightened in red is the problem unfortunately, his bros who import this will wail about witch hunt and the FGN desire to annihilate them... it's a catch 22 situation.
people just lost their jobs, and this is all you have to say?,where is your conscience?, every day I see you and your likes always turn things to either a political or tribal or religious war, are we not first citizens before party members?,why do you and your likes always find a way to turn things into either an apc vs pdp or an igbo vs yoruba thing? Can you atleast try to look at it from the vantage point of a citizen?,I know it's hard,but try, the people going to get laid off are certainly not going to want to know whatever it is you wrote in red, smh #tragic!

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Re: Erisco Foods Shuts Down Nigeria’s Factory, Relocates To China by mengho(m): 12:45pm On Nov 02, 2016
lol

1 Like

Re: Erisco Foods Shuts Down Nigeria’s Factory, Relocates To China by addlogg(m): 12:46pm On Nov 02, 2016
this is really disheartening.. I don't even knw what to say again

1 Like

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