NL1960:


Innoson is expanding at a fast pace in order to meet demands and yet they say Nigeria is not producing anything.

Innoson is a vehicle assembly plant. He imports virtually all the essential parts of his vehicles. An astronomical rise in dollars will put Innoson out of business. Nigeria does not export anything substantial that can add to the country's foreign exchange for now. Is it agricultural produce or machines? If we do, what are the products and which nation are the buyers? So much "Container Economics" in here.

Devaluation will only help smugglers to make quick buck in the short term. Check what Lebanon is going through recently.

https://www.google.com/amp/s/amp.cnn.com/cnn/2020/06/11/middleeast/lebanon-economic-protests-intl/index.html

Theconglomerate:
My brother I tire.
Maybe Innoson is doing beautification project in Anambra.
Nigeria don't produce anything but has a GDP of $466B and the so called oil brings just $50B or there about.
So the real question is where is the $416B coming from since Nigeria is so unproductive asides oil

The $416B is coming from diaspora remittances.

NL1960:


The $416B is coming from diaspora remittances.

AMINDA:


Innoson is a vehicle assembly plant. He imports virtually all the essential parts of his vehicles. An astronomical rise in dollars will put Innoson out of business. Nigeria does not export anything substantial that can add to the country's foreign exchange for now. Is it agricultural produce or machines? If we do, what are the products and which nation are the buyers? So much "Container Economics" in here.

Devaluation will only help smugglers to make quick buck in the short term. Check what Lebanon is going through recently.

https://www.google.com/amp/s/amp.cnn.com/cnn/2020/06/11/middleeast/lebanon-economic-protests-intl/index.html

Does Toyota, Benz, Volvo, BMW, Rolls Royce, Boeing, Airbus, Ford manufacture all the parts?.

NL1960:


I always laugh whenever i hear that we do not produce anything. Just few weeks of Covid-19 and the almighty America that these people make noise about upandan started fighting over common tissue paper wen dem dey take clean ny*sh. Small scale industries are producing a lot using local raw materials. Fabricators have since been fabricating simple local machines.

You should know that western countries citizens mostly are leaving from pay check to pay check, hand to mouth and to make it worse, heavily indebted.
They are living a fake life on debt. Car, house mortgages etc so when the economy tumbles, you see the effects immediately and some will commit suicide instantly.
Imagine being on heavy car and house mortgages and you lose your job. Not only will you lose these things but you will be heavily indebted to banks and be thrown to the street or under bridge

We don't need Nigeria to even export but just sell/solve its basic needs.
If the masses is buying Nigeria made and are shunning imports due to price differences,the demand for dollar will quickly decline.
That is,you will put your dollar at N500 and no one will buy it,no be person go tell you to drop its pricing.
When you say devaluation will help smugglers,please describe the type and direction of the smugglers.
If devaluation will help Nigerian smugglers to smuggle Nigeria produce out of Nigeria to the rest of the world then so be it
Also Lebanon's currency depreciated out of control and didn't decline in value because of devaluation.
There's a big difference I keep saying.

Theconglomerate:
We don't need Nigeria to even export but just sell/solve its basic needs.
If the masses is buying Nigeria made and are shunning imports due to price differences,the demand for dollar will quickly decline.
That is,you will put your dollar at N500 and no one will buy it,no be person go tell you to drop its pricing.
When you say devaluation will help smugglers,please describe the type and direction of the smugglers.
If devaluation will help Nigerian smugglers to smuggle Nigeria produce out of Nigeria to the rest of the world then so be it
Also Lebanon's currency depreciated out of control and didn't decline in value because of devaluation.
There's a big difference I keep saying.

When imported products successfully compete with local produce, the problem is usually related to production capacity . You can't fix that by devaluing the currency.
Consumers will always rationalise purchases using a combination of factors such as quality and price.

Nigsrdumb:


When imported products successfully compete with local produce, the problem is usually related to production capacity . You can't fix that by devaluing the currency.
Consumers will always rationalise purchases using a combination of factors such as quality and price.

We don't have their kind of capacity and infrastructure to compete with them face off,that's why we are devaluing so we can sell our produce to our own people,not necessarily export and compete with the west in international markets.
Abi do you have $10B to use to open world class factory like Dangote?
Nigeria is a poor country where almost everyone is poor,so if we make imports expensive,that's the end of it.
Quality don't matter out here.
Jameson whiskey is overtaking the Nigeria market now because of cheap price.
Are you telling me Jameson has more quality than black label,Chivas regal,etc..?
Why are consumers switching to jameson then?
More Quality I guess

Very good concessions here, what an intellectual group.

emmaodet:


I keep hearing "what are we producing as nigerians" this statement is very insulting and it shows a lot of people are not really aware about their environment.
If you want to know more about producers we have in nigeria then join Business associations, Simple to meet them.
MAN - Manufacturer association of Nigeria
Abscon
Nasme
Nassi - Nigeria association of small scale industrialist (am in this group, Abeokuta chapter)
Naccima/Chamber of commerce
Amen - Association of micro entrepreneurs of nigeria
Smedan
Etc
You will marvel and be surprise by the sheer numbers of business men and entrepreneurs we have in nigeria.
Afan - All farmers association of Nigeria (am in this one too)
Register with Nepc - Nigeria Export promotion commission with just 12k and be an exporter even with small things like natural african honey and snails and earn dollars.
A lot of youths just want to sit at home and the govt should spoonfeed them with money and jobs.
To get a loan or government approved loans are very easy.
Join any of the above association because they work directly with government and cbn and all loans come through them like Nirsal loan, anchor borrowers scheme (this is still on going in our Nassi whatsapp group). etc
As at this January, i was at ogun state/federal meeting where they were begging us to take loans released by government through BOI, BOA, banks like sterling, zenith etc with there representatives there for Smes.
Getting capital or loan is not a
if you have a good business plan etc
I applied for 10m this January but later pulled out but my colleagues got theirs after a 1-week compulsory cbn entrepreneurship seminar/class to brush us up.
I dropped out because i can raise that money from my salary so no need for it i learnt a lot from the class

Bossman, please all this organization you aforementioned DO THEY HAVE OFFICES IN THE SIX GEOPOLITICAL ZONES?......... southeast to be pricised

Do you mind giving me some tutorial?

Got a mail on sukuk allotment. Thank God for successful transaction!

delawal:


at times enviroment matters too. its easier for,people,in,a,commercial city like lagos or onitsha to start a profitable biz than people in a non commercial area like uyo. some people who,dread biz will still priortize fixed income,investment, bt d truth is there is more money in biz than all these fixed income. i have seen people with capital of abt 1m making profit of 8m annually or more. imagine d small profit dt 1m can generate in fixed income annually, people who re really into real biz dt is moving dont have time for all these fixed income stuff, any revenue they generate from sales is re invested into getting more,goods asap. biz fail bc,of wrong planning,and not having adequate info. personally i have done businesses am not,into before and excelled. why d pessimism

Some of us don't deal in opinion or anecdotes. We prefer facts and figures.

So...of all the people doing business whom you know, how many are within this category?

Give us a percentage. Feel free to estimate, please.

emmanuelewumi:



Business is not for everybody, but investment is for everyone.

You can't expect a busy and highly successful doctor or lawyer to be a businessman, rather he can combine his busy schedules with Investment

Escapev:
Got a mail on sukuk allotment. Thank God for successful transaction!

did they state bases. please which broker did you use

X21:


did they state bases. please which broker did you use

No they didn't . I used FBN QUEST

Escapev:
Got a mail on sukuk allotment. Thank God for successful transaction!

Who is the Stockbroker you used

Escapev:


No they didn't . I used FBN QUEST

The allotment schedule should be ready this week.

emmanuelewumi:



Who is the Stockbroker you used

FBN Quest

Theconglomerate:
We don't have their kind of capacity and infrastructure to compete with them face off,that's why we are devaluing so we can sell our produce to our own people,not necessarily export and compete with the west in international markets.
Abi do you have $10B to use to open world class factory like Dangote?
Nigeria is a poor country where almost everyone is poor,so if we make imports expensive,that's the end of it.
Quality don't matter out here.
Jameson whiskey is overtaking the Nigeria market now because of cheap price.
Are you telling me Jameson has more quality than black label,Chivas regal,etc..?
Why are consumers switching to jameson then?
More Quality I guess

If price is the sole determinant of consumer choice and given that Nigeria is a poor country, most should be buying nasco instead of kellogs, but i don't see that happening, your average middle class will still go for kellogs whilst the poorest of the poor will settle for pap.
In addition, why is the focus not on how to improve local production capacity inorder reduce prices further rather than devaluing?
What really drives an economy is innovation, there's a reason why the production capacity is low.

emmanuelewumi:



The allotment schedule should be ready this week.

Received the mail last night. It's dated June 12

Escapev:


FBN Quest

I use them for my money market fund Investment.

Those whose Investments were not successful, should get their returned money anytime from now

Investors who invested 500k and below should be alloted everything they asked for.

Imagine someone invested N150 million, it is obvious he might not get more than N40 Million

emmanuelewumi:
Investors who invested 500k and below should be alloted everything they asked for.

Imagine someone invested N150 million, it is obvious he might not get more than N40 Million

He doesn't want stress N150 million, will give him N8.4 million every 6 months for the next 7 years. Making total payment of N117 million

emmanuelewumi:
Investors who invested 500k and below should be alloted everything they asked for.

Imagine someone invested N150 million, it is obvious he might not get more than N40 Million

I would rather say, anyone who invested below 50 million would be successful. I invested far more than 500k.

Escapev:


I would rather say, anyone who invested below 50 million would be successful. I invested far more than 500k.

The allotment schedule will explain that, it will be published in the dailies and released on DMO websites. At over 420% oversubscription it will be difficult for Investors who invested N10 million to have full allotment. The allotment will be prorated for such Investors

emmanuelewumi:


The allotment schedule will explain that, it will be published in the dailies and released on DMO websites. At over 420% oversubscription it will be difficult for Investors who invested N10 million to have full allotment. The allotment will be prorated for such Investors

Mr Emmanuel, funny enough I invested more than what you stated here oh.

I hope the purported 440% oversubscription is not a rumour.

440% oversubscription of a N150 billion Sukuk bond, means FG was able to raise over N600 billion.

The allotment schedule will explain everything in a couple of days

Theconglomerate:
We don't have their kind of capacity and infrastructure to compete with them face off,that's why we are devaluing so we can sell our produce to our own people,not necessarily export and compete with the west in international markets.
Abi do you have $10B to use to open world class factory like Dangote?
Nigeria is a poor country where almost everyone is poor,so if we make imports expensive,that's the end of it.
Quality don't matter out here.
Jameson whiskey is overtaking the Nigeria market now because of cheap price.
Are you telling me Jameson has more quality than black label,Chivas regal,etc..?
Why are consumers switching to jameson then?
More Quality I guess

Na so i go supermarket with my pikin. She go carry Kellogg cornflakes wen be 1k and na two she wan buy. Meanwhile Infinity cornflakes wen be N700 dey there and na 2k dey my hand. I jejely told her to carry two packs of Infinity. I paid N1,400. Collect change of N600..subscribe N500 data. Logon into Nairaland dey narrate wetin happen. If na Kellogg i buy, na so 2k for just finish. How i for take subscribe for data and narrate the tory for Nairaland if na two packs of Kellogg i buy?. Afterall, cornflakes na cornflakes.

Thank you all for your advise, i tried all the peaceful ways advised here to resolve with the tenant but none worked since she is a very troublesome person, I'm glad to finally announce that @Barrytone's advise below worked perfectly without much stress and begging. Our people say when an animal learn to run without stopping the hunter will learn to shoot without targeting, this is a pure example of it!

Barrytone:
I grew up in the streets but I don't encourage this any longer but its inevitable where a tenant things you must suffer after the initial suffer to build a house. Go to court, pay the clerk and officials and get a notice, paste on his door in his absent and snap then take notice off. Make some other person appear in court in his stead as a proxy tenant he transferred tenantship to without your consent and get a verdict and evict him immediately as the unpreparedness will rock his life for ever. He can continue the fight from outside your house. The person that appeared is the person you have been seeing around the house and you don't know him. Simply put, he alone can provide that person.

Nigsrdumb:




If price is the sole determinant of consumer choice and given that Nigeria is a poor country, most should be buying nasco instead of kellogs, but i don't see that happening, your average middle class will still go for kellogs whilst the poorest of the poor will settle for pap.
In addition, why is the focus not on how to improve local production capacity inorder reduce prices further rather than devaluing?
What really drives an economy is innovation, there's a reason why the production capacity is low.

People are not buying nasco because it costs thesame as kellogs na.
See below...
500g of kellogs at 1100
I'm on my way to the mart,I will show you Nasco prices