RisenPhoenix:


Innoson assembles cars in Nigeria. Hyundai is planning to do the same. They will both contribute equally to the Nigerian economy through training and employment; and maybe export to neighbouring countries. It now boils down to quality.

Innoson is indigenous to Nigeria, all assets in Nigeria, entire history in Nigeria, profits remains in Nigeria.
Hyundai is Japanese, almost all its asset in Japan. No history of manufacturing in Nigeria. Likely to be trying repatriate profits to Japan

GenBuhari:
Innoson is indigenous to Nigeria, all assets in Nigeria, entire history in Nigeria, profits remains in Nigeria.
Hyundai is Japanese, almost all its asset in Japan. No history of manufacturing in Nigeria.

Hyundai is South Korean.

sapele914:
Hyundai is South Korean.

OK, noted

The level of sentiments we bring into issues can never escalate development. For God sake, we are living in a globalized world. No one locks himself up and expect development. Competition brings out the best of products/services qualities at the cheapest price. This firm is coming to invest in the refineries and automobile industries.
Why are you not worried about Dangote who is putting up all his life on constructing the largest refinery in Africa but you all gathered here pouring invectives because of innoson. It doesn't matter who produces any product whether it's Nigerian or not. What matters is that it should be produced in Nigeria because of the attendant spillover effects. Igbo people are enterprising but the level of victimimism they often exhibit is to say the least sickening.

The level of sentiments we bring into issues can never escalate development. For God sake, we are living in a globalized world. No one locks himself up and expect development. Competition brings out the best of products/services qualities at the cheapest price. This firm is coming to invest in the refineries and automobile industries. Everyone is sentimental when it comes to qualify.
Why are you not worried about Dangote who is putting up all his life on constructing the largest refinery in Africa but you all gathered here pouring invectives because of innoson. It doesn't matter who produces any product whether it's Nigerian or not. What matters is that it should be produced in Nigeria because of the attendant spillover effects. Igbo people are enterprising but the level of victimimism they often exhibit is to say the least sickening.

[s]

DrKKK1:
The level of sentiments we bring into issues can never escalate development. For God sake, we are living in a globalized world. No one locks himself up and expect development. Competition brings out the best of products/services qualities at the cheapest price. This firm is coming to invest in the refineries and automobile industries. Everyone is sentimental when it comes to qualify.
Why are you not worried about Dangote who is putting up all his life on constructing the largest refinery in Africa but you all gathered here pouring invectives because of innoson. It doesn't matter who produces any product whether it's Nigerian or not. What matters is that it should be produced in Nigeria because of the attendant spillover effects. Igbo people are enterprising but the level of victimimism they often exhibit is to say the least sickening.

[/s]

SHUT UP PLEASE...

GO AND CHECK THE NAMES OF THE CONCERNED PARTY, THEY ARE ALL YOUR TRIBE MEN.

AFONJA AND ABOKI

GenBuhari:
Innoson is indigenous to Nigeria, all assets in Nigeria, entire history in Nigeria, profits remains in Nigeria.
Hyundai is Japanese, almost all its asset in Japan. No history of manufacturing in Nigeria. Likely to be trying repatriate profits to Japan

Hyundai is South Korean, not Japanese.

When Hyundai opens in Nigeria, its Nigerian branch assets will be in Nigeria and will probably exceed Innoson's assets book value. Both will pay equal proportion of taxes on their profits. Possibly a greater proportion of Innoson's profit would be reinvested in Nigeria, but that is not really predictable and is certainly not a great enough incentive to forego the much better quality Hyundai. Now if Innoson had made an effort to assemble Toyotas instead of BAICs, I would certainly have gone for Innoson, but I tend to be allergic to anything Chinese in principle.

BuhariAdvocate:
Which of those protesters have innoson car.

pls no mind the children of hate,they are sadist,victim mentality is in their blood.
Even their governors are not patronizing the so called innocent motors.they are evil,they are full of hate,they believe everybody is against them.
Yes! Buhari invited other car manufacturing company. So what? Do your worst

There's a large market for cars in Nigeria; there's enough room for everyone to thrive. Besides, anything that boost the industrial / manufacturing sector in Nigeria is a welcome development. As long as the vehicles will be produced or assembled within Nigeria, that;s a positive.

edoairways:

A reasonable government protects infant industries

In this case, do you suggest we protect local industry by chasing away foreign investors?

What exactly is this thread even about?

Welcoming Asian parasites into the country is not the answer.

Your president is deaf and dumb

obailala:
In this case, do you suggest we protect local industry by chasing away foreign investors?

What exactly is this thread even about?

Yes

edoairways:

Yes

Okay, but that makes zero economic sense, and it would be disastrous for any country to chase away investors, let alone a country like Nigeria which direly needs foreign investments. Nigeria needs any kind of investment that can boost the industrialisation and manufacturing sector. The benefits are obvious, it will create numerous jobs, there would be technology transfer, it will boost government revenue, save forex etc. As long as they arent just importing cars into Nigeria, even if it just to assemble the already produced parts, as long as a phase of 'value addition' is done in Nigeria, it will be beneficial to our economy.

My question is will this present govt allow another company to start producing cement?

obailala:
Okay, but that makes zero economic sense, and it would be disastrous for any country to chase away investors, let alone a country like Nigeria which direly needs foreign investments. Nigeria needs any kind of investment that can boost the industrialisation and manufacturing sector. The benefits are obvious, it will create numerous jobs, there would be technology transfer, it will boost government revenue, save forex etc. As long as they arent just importing cars into Nigeria, even if it just to assemble the already produced parts, as long as a phase of 'value addition' is done in Nigeria, it will be beneficial to our economy.

Let the local business catch first before letting foreigners to compete

edoairways:

Let the local business catch first before letting foreigners to compete

Yhis isnt qbout competition, theres a very large car market in Nigeria and our local vehicle manufacturers cant meet up to 0.01% of the demand.

Nigeria currently has a dead economy. So anything to boost the economy and provide jobs is a welcome development. FYI, there's is a clear difference between importing Hyundai cars and having Hyundai come into Nigeria to manufacture the cars; every nation welcomes that.

China made it as a global and manufacturing power from scratch by demanding that foreign manufacturers must establish manufacturing plants in China if they want to sell in China even though they have their own struggling industries.

You know why?

Because of Technology Transfer, they want other people's manufacturing technologies on their soil to copy, steal and adapt to help their own local industries.

It's in the interest of Nigeria and Innoson to have foreign manufacturing plants in Nigeria to drive up manufacturing, production standards, and healthy competition.

We can not develop as a nation by just allowing into Nigeria finished products that don't help the Nigerian economy, manufacturing sector and even Innoson itself. Powerful countries live on their export markets and potentials because they have products to export for hard currency so we must develop our own cash value and major export products to not only generate income locally and internationally which Innoson can not do regardless of how many cars they make in Nigeria.

Say no and watch they take their investments and jobs to Ghana and send the finished products to Nigeria and other West African countries.

We need to stop being shortsighted and too narrow in our thinking.

obailala:
Yhis isnt qbout competition, theres a very large car market in Nigeria and our local vehicle manufacturers cant meet up to 0.01% of the demand.

Nigeria currently has a dead economy. So anything to boost the economy and provide jobs is a welcome development. FYI, there's is a clear difference between importing Hyundai cars and having Hyundai come into Nigeria to manufacture the cars; every nation welcomes that.

We should consume local products that is how an economy grows. If countries like China and Singapore didn't restrict the influx of foreign products they wouldn't have been where they are today. The government is adopting import substitution however this policy may be to detriment of other infant industries

edoairways:

We should consume local products that is how an economy grows. If countries like China and Singapore didn't restrict the influx of foreign products they wouldn't have been where they are today. The government is adopting import substitution however this policy may be to detriment of other infant industries

China did not restrict the influx of products across the board, nearly all the major auto manufacturers in the world manufacture cars in China, even Tesla opened their new and largest Giga factory in China just months ago.

We are not talking about rice, soap or cornflakes, we are talking about major manufacturing industries.

edoairways:

We should consume local products that is how an economy grows. If countries like China and Singapore didn't restrict the influx of foreign products they wouldn't have been where they are today. The government is adopting import substitution however this policy may be to detriment of other infant industries

There is everything to benefit if those cars we inevitably import are actually produced here in Nigeria. Local manufacturers cannot meet up to 0.1% of the demand, so we will end up still importing until local capacity grows. Until then, it makes all economic sense to have the producers of these cars we import, have their production plants in Nigeria; it is better to produce them in Nigeria than to import them.

The only reason why Nigeria can talk of restricting importation of rice is because we at least can currently produce up to 50% or even more of our local demand. Anything else would amount to just outright economic madness.

marvincriz:
My question is will this present govt allow another company to start producing cement?

You mean apart from Lafarge?

[s]

voltron14:


You mean apart from Lafarge?

[/s]

voltron14:


You mean apart from Lafarge?

Maybe Lafarge doesn't manufacture cement.

obailala:

There is everything to benefit if those cars we inevitably import are actually produced here in Nigeria. Local manufacturers cannot meet up to 0.1% of the demand, so we will end up still importing until local capacity grows. Until then, it makes all economic sense to have the producers of these cars we import, have their production plants in Nigeria; it is better to produce them in Nigeria than to import them.

The only reason why Nigeria can talk of restricting importation of rice is because we at least can currently produce up to 50% or even more of our local demand. Anything else would amount to just outright economic madness.

Local manufacturers can't meet up because the government doesn't support them.

NGpatriot:



China did not restrict the influx of products across the board, nearly all the major auto manufacturers in the world manufacture cars in China, even Tesla opened their new and largest Giga factory in China just months ago.

We are not talking about rice, soap or cornflakes, we are talking about major manufacturing industries.

I never said they restricted goods across board.Chinese market was already stabilized with local products before foreign ones came

edoairways:

Local manufacturers can't meet up because the government doesn't support them.

Of course the govt can to more to support local manufacturers, but even if the entire annual budget is given to local manufacturers (which we know is impractical), it wouldn't still be enough for them to meet up with the demand. So until such a time when local manufacturing begins to meet considerable demand levels, it is still a very good economic decision to get foreign investors into the country to set up plants.

edoairways:

I never said they restricted goods across board.Chinese market was already stabilized with local products before foreign ones came

Be specific about the local products you are talking about.

We are talking about goods like cars and industrial products, not household consumer goods, China allowed all the major foreign car manufacturers including Tesla into their country to manufacture cars even though their own local auto manufacturers are not major, not established or known outside of China, they allowed them into China to create jobs, to transfer technology and generate IGR.


China is making commercial planes today because they allowed Boeing and other aircraft manufacturers to come in first, then transfer and copy the technology needed to manufacture their own.

Denying yourself jobs, technology, IGR and world-class industrial production and practices because of one ill-equipped and underperforming knock-off assembly factory is penny-wise pound foolish.

edoairways:

Local manufacturers can't meet up because the government doesn't support them.

Buhari govt gives Innoson support, patronage – Innocent Chukwuma

Innocent Chukwuma, Chairman, Innoson Group of Companies Nigeria limited, says the federal government, under President Muhammadu Buhari, has given enormous patronage and support to his firm, Innoson Vehicle Manufacturing (IVM).

Mr Chukwuma made the disclosure in an interview with the News Agency of Nigeria (NAN) on Sunday in Nnewi, Anambra.

He also named Enugu, Ebonyi, Ekiti, Imo, Kogi, Anambra, Gombe, and Bauchi as well as Nigeria military among the states buying Innoson vehicles.

https://www.premiumtimesng.com/news/top-news/355016-buhari-govt-gives-innoson-support-patronage-innocent-chukwuma.html

You are wrong because according to Innoson himself, he's getting support and patronage from the FG and many states in Nigeria.

NGpatriot:






You are wrong because according to Innoson himself, he's getting support and patronage from the FG and many states in Nigeria.

The support is not good enough. Secondly many Nigerians prefer foreign products to local ones