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Nairaland Forum / Nairaland / General / Politics / Godwin Emefiele: 130 Textile Industries In Nigeria Have Collapsed (7834 Views)
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Re: Godwin Emefiele: 130 Textile Industries In Nigeria Have Collapsed by tkaofee: 11:41am On May 08, 2019 |
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Re: Godwin Emefiele: 130 Textile Industries In Nigeria Have Collapsed by iammo(m): 11:44am On May 08, 2019 |
tactius: your points are duly noted, lets say the cuasative factors is Military misrule, shouldnt the fixative factor come from PDP?.. for instance politicians at all level never made investment toward power generation, however the little on our national grid they were expanding it uses through rural electrification show off projects while generation remain stagnant. Look at what Ameachi is trying to do in just 2.5 years (even if he inflated figures) connecting three states Ogun , Oyo , Lagos on standard guage.. if we had start such at 1999 we would had covered half of nigerian states in 16 years. 1 Like |
Re: Godwin Emefiele: 130 Textile Industries In Nigeria Have Collapsed by Nobody: 11:44am On May 08, 2019 |
9jaRealist: 1.Well many a smuggler also operates from the SW, and the SE part of the country as well. 2.You Nigerians refuse to pay your power bills, your government agencies refuse to pay your power bills, you want power companies to accept bills that are below the production cost for power, some of you chase away DISCO officals doing their job....and you insist on subsidy for fuel...preventing petroleum companies from making a sufficient profit to invest in new refineries, new gas plants, you vote for the people in PDP who robbed our country for 16 years, and some of you vote for APC with people like Grasscutter, Gandollars, Lion cub of ubima, and Bourdillion Jagaban, and you expect light 24/7? 1 Like |
Re: Godwin Emefiele: 130 Textile Industries In Nigeria Have Collapsed by 9jaRealist: 11:45am On May 08, 2019 |
OkunrinOloro: Emefiele is trying to keep his job, but even Emefiele would not be that clueless... That part of the news report is not a quote from Emefiele, but merely the reporter's ill-informed editorialization. 1 Like |
Re: Godwin Emefiele: 130 Textile Industries In Nigeria Have Collapsed by OkunrinOloro: 11:55am On May 08, 2019 |
I would say it was more a summarisation of a part of emefiele's speech. It's obvious that the cbn governor was trying to establish a link between the collapse of textile mills and insecurity in the north, and those two factors couldn't have happened 30 years apart. That simply wouldn't be a logical assumption to make. 9jaRealist: |
Re: Godwin Emefiele: 130 Textile Industries In Nigeria Have Collapsed by Nobody: 11:57am On May 08, 2019 |
iammo: Well, inasmuch as I don't like the PDP (or the APC even), many of the textile companies were in soup as far back as the 1990's. As for power, while I blame politicians, I also blame Nigerians. As far back as 1990...NEPA was crying that many people did not pay their bills and did 'illegal connections' .Some places even got light for 'free' (at one point the university where my parents worked was on free power ....technically some money was being paid). The same problem persists today under the DISCOS....and quite frankly (and I really hate making this argument, but after reading up more about this issue since 2014...when PDP took the 'insane' decision to sell power...and after NO Nigerian came forward to the panel set up to discuss the problem to oppose it..and learning a lot of stuff.)....we are not paying the DISCOS enough cash to allow them make investment in improving power...the same way we did for GSM over 10 years ago...when we were paying 20000 and above for a SIM, and for service so bad that at one point we could not make calls in between networks..but they took the money and invested it in better equipment The truth is, Nigeria is a country where we like to share money. If PDP wanted to improve power...they would have sold the whole thing to foreign power companies, who would have raised prices, and made profits well well, while we groan....but eventually would have used the money plus the profit to make things better...in five years.(my estimate). But they did not because such decisions are not poltically popular. So they sold the DISCOS to local investors (cronies), made them charge less than the cost of prdouction, while government buys electricity via Nigieria Bulk electricity trading company, and sells to them at lower prices,,,meanwhile GENCOS are forced to sell power at lower prices under the rules...lower than their production cost. No wonder power aint improving. All the off grid solutions of this government are just temporary....either we take a long term loan to improve generation and transmission, or we tighten our seatbelts. 1 Like 1 Share |
Re: Godwin Emefiele: 130 Textile Industries In Nigeria Have Collapsed by 9jaRealist: 11:59am On May 08, 2019 |
tactius: Dude, you are preaching to the wrong person... https://www.nairaland.com/4995124/family-members-fighting-nepa-officials/3#75326285 9jaRealist:. 1 Like |
Re: Godwin Emefiele: 130 Textile Industries In Nigeria Have Collapsed by Nobody: 12:00pm On May 08, 2019 |
9jaRealist: Okay, okay ! |
Re: Godwin Emefiele: 130 Textile Industries In Nigeria Have Collapsed by Bridget95(f): 12:03pm On May 08, 2019 |
Sirjamo:You and your pay masters won't stop blaming PDP. |
Re: Godwin Emefiele: 130 Textile Industries In Nigeria Have Collapsed by Nobody: 12:05pm On May 08, 2019 |
Re: Godwin Emefiele: 130 Textile Industries In Nigeria Have Collapsed by 9jaRealist: 12:19pm On May 08, 2019 |
tactius: The process was open to foreigners. In fact, the US energy company Symbion participated in an ultimately-successful joint bid (with Transcorp) for the Ugheli Power Plant. There was NOTHING wrong with the process (which had technical help from the World Bank and others) itself, but the reality is that most reputable foreign companies/investors are NOT attracted to such a heavily price-regulated industry. That's basically the same reason that foreign companies have never shown any interest in petroleum refining in Nigeria. Conversely, when you look at the GSM/telecommunications industry, the deregulation of pricing ultimately led to a much more competitive industry (in terms of service and pricing). . 2 Likes 2 Shares |
Re: Godwin Emefiele: 130 Textile Industries In Nigeria Have Collapsed by GeorgeTheCoder: 12:33pm On May 08, 2019 |
grandstar: They are both beneficiaries of market manipulation. They can never promote the invisible hand. |
Re: Godwin Emefiele: 130 Textile Industries In Nigeria Have Collapsed by Bitterleafsoup: 12:34pm On May 08, 2019 |
Sirjamo:Stop talking rubbish! on Goodluck 200 new factories open in China agriculture sector made Forbes front page. You got your change. |
Re: Godwin Emefiele: 130 Textile Industries In Nigeria Have Collapsed by Salebo: 12:35pm On May 08, 2019 |
grandstar: This is economic suicide.. Don't be a dull.ard... 1 Like |
Re: Godwin Emefiele: 130 Textile Industries In Nigeria Have Collapsed by uuzba(m): 12:38pm On May 08, 2019 |
Sirjamo:Textile industries collapsed because our border is open to importation of Chinese fabrics, which are finished goods. People buy the Chinese fabrics because they are cheaper. So who opened the border? And who are those patronising Chinese good? Those are the people who killed the Nigerian textile industries. |
Re: Godwin Emefiele: 130 Textile Industries In Nigeria Have Collapsed by Revolva(m): 12:39pm On May 08, 2019 |
No matter where u go ...no matter wat ....remember the road that will lead you Bwode thowmas hahahhaaah I like dat SA jam na e de reign now oo Werin concern me if Nigeria like make all the factories collapse |
Re: Godwin Emefiele: 130 Textile Industries In Nigeria Have Collapsed by Bitterleafsoup: 12:43pm On May 08, 2019 |
iammo:Abacha and Babangida are thieving bastards.... 1 Like 1 Share |
Re: Godwin Emefiele: 130 Textile Industries In Nigeria Have Collapsed by iammo(m): 12:47pm On May 08, 2019 |
Bitterleafsoup: Infact all their Military Graduating Class Set are thieving wicked coupist modavcking bastards.. 1 Like |
Re: Godwin Emefiele: 130 Textile Industries In Nigeria Have Collapsed by Nobody: 1:03pm On May 08, 2019 |
grandstar: My point exactly bro. I just turned for the banker turned governor |
Re: Godwin Emefiele: 130 Textile Industries In Nigeria Have Collapsed by MXr8p: 1:06pm On May 08, 2019 |
Buhari is a disaster |
Re: Godwin Emefiele: 130 Textile Industries In Nigeria Have Collapsed by Jaqenhghar: 1:08pm On May 08, 2019 |
tayour917i:Was there any glory in the first place? You cant lose what you never had 1 Like |
Re: Godwin Emefiele: 130 Textile Industries In Nigeria Have Collapsed by grandstar(m): 1:42pm On May 08, 2019 |
Salebo: Why have EU countries not collapsed? Why is the UK economy in trouble now they have voted to leave the EU? 1 Like |
Re: Godwin Emefiele: 130 Textile Industries In Nigeria Have Collapsed by grandstar(m): 1:43pm On May 08, 2019 |
GeorgeTheCoder: How are they beneficiaries? |
Re: Godwin Emefiele: 130 Textile Industries In Nigeria Have Collapsed by grandstar(m): 2:04pm On May 08, 2019 |
tactius: Actually. Jonathan government did their best to lure in foreign power companies but were uniterested as Nigeria is a country notorious for not keeping with terms of a contract. That is the foundation of the problem. The Lekki Epe expressway was supposed to have 3 toll gates but Nigerians protested and it was reduced to one. What is sad was that there were alternative routes motorists could use if unwilling to pay the toll Also take a look at the Lekki toll bridge. The toll on the bridge was declared illegal. The most flagrant was the MM 2 Airport and Babalakin .Worse, the contract was only for 12 years and this government did not have the sense to lengthen it! Fashola warned that international companies which invest in infrastructure are a small community and word goes around. This is playing out now. 2 Likes 1 Share |
Re: Godwin Emefiele: 130 Textile Industries In Nigeria Have Collapsed by tayour917i(m): 3:05pm On May 08, 2019 |
Jaqenhghar:Yes there was.... please read and reply https://thenerveafrica.com/10455/photos-the-sad-state-of-nigerias-once-glorious-textile-industry/ and https://leadership.ng/2019/01/08/assessing-efforts-to-revive-nigerias-textile-industry/ |
Re: Godwin Emefiele: 130 Textile Industries In Nigeria Have Collapsed by Jaqenhghar: 3:08pm On May 08, 2019 |
tayour917i:I read it. We had a vibrant industry true that could have grown to glorious heights ( same as evry other sector) . Vibrant not exactly glorious per se. I think thays beside the point sha. Its a pity 1 Like |
Re: Godwin Emefiele: 130 Textile Industries In Nigeria Have Collapsed by Pusyiter(m): 3:36pm On May 08, 2019 |
Keepin waiting until you kpuff God can not do what he has empowered you to do tayour917i: |
Re: Godwin Emefiele: 130 Textile Industries In Nigeria Have Collapsed by buharitill2023: 3:37pm On May 08, 2019 |
grandstar:you need to be in psychiatric, they said importation collapsed 130 textile industries, and idiotic pigs still want 100% importation, |
Re: Godwin Emefiele: 130 Textile Industries In Nigeria Have Collapsed by buharitill2023: 3:41pm On May 08, 2019 |
tkaofee: buharitill2023: tkaofee: |
Re: Godwin Emefiele: 130 Textile Industries In Nigeria Have Collapsed by grandstar(m): 4:15pm On May 08, 2019 |
buharitill2023: Must you resort to insults? (Read Collosians 4:6) Have you heard of comparative advantage? Have you heard about competitiveness? Have you heard of productivity, have you heard about creative destruction? In Nigerian for over 30 years, the country has been fixated with protectionism. Yet, it has failed to industrialise the country. Imagine you visited your girlfriend and she's frowning throughout? What is she's talking to a male happily on the phone most times whilst you are there? What if she never picks your calls or it says busy whenever you do, what message is she sending? AThe market also send a messages. What message is the textile industry sending with the closure of 130 factories in recent times? The country lacks comparative advantage in the production of textiles. If you lack comparative advantage in something, you are better off not producing it The textile industry is very competitive and is also export oriented. In Nigeria, they are uncompetitive due to the poor power supply and high cost of credit. But the fact that the textile industry here is not export oriented in the biggest indicator. The foundation of growth in most third world countries that became rich is textile exports. What her Japan, South Korea and even China! That's why liberalisation of textile imports will work wonders. . 1 Like |
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