₦airaland Forum

trytillmake:
What did she say that is wrong there, go and answer to police with yr proves simple.

Where's Yaya Bello? Where's Beta Edu? Where is the previous Humanitarian minister and Accountant General of the Federation that stole billions of naira? Where's Abba Kyari? Has he been extradited to the USA?

We are watching the drama unfolding

Pojomojo:
This thread has a WhatsApp group.

Please, I want to join the group.

Blissguts:
I dey find where I go enter only one moto to VI ..... Wey also the price of rent no go press neckk

Send me a dm

Tbasicme:
The problem in Ogun has been there since the time of Obasanjo/Yaradua it lingered till Johnathan and then to Buhari.

I look at this from 2 perspectives

1. Chinese are very shroud and wicked. When they gave Nigeria loans and the Yuan currency swap I knew that they will try to get a way to get back at Nigeria once the loan defaults

2. The reckless behaviours of state Governors when going into bilateral agreement and when obtaining loan from international bodies.

To be candid Ogun state government brought Nigeria into this mess especially Gbenga Daniel and Ibikunle Amosun

The government is still taking loan from China

tnerro1:
I don tire for this country

No be only you.. It's really very bad.

Bobloco:
…80% others in low-capacity utilization
…Over 100,000 employees thrown into the job market
…Labour begs FG to intervene


LAGOS — Over 50 firms in the chemical and non-metallic products sub-sector of the nation’s economy are in a dilemma as multinationals, medium and small-scale enterprises, SMEs, and member companies are either exiting, on the verge of shutting down or operating at low-capacity utilisation.


It will be recalled that the employers, under the umbrella of the Chemical and Non-Metallic Products Employers Federation, CANMPEF, had a membership strength of no fewer than 100 firms,, comprising multinationals, medium, and small businesses, which employ about 350,000 people across the country.

But presently, Vanguard checks revealed that while over 50 of such companies have closed down, four are on the verge of shutting down, while 80 per cent of the remaining companies are operating at low-capacity utilization.

Industry sources told Vanguard that over 100,000 workers have lost their jobs directly and indirectly in the last year.

The firms in this sector produce medicals, pharmaceuticals, perfumes, cosmetics, toiletries, soaps, detergents and vegetable oil, hydraulics, cement, asbestos cement and concrete.

Other products include glass, ceramic, earthenware, clay products, basic industrial organic and inorganic chemicals, fertilizers, explosives, fireworks, footwear, leather, and rubber.

According to Vanguard’s checks, among the companies that have shut down are Glaxo SmithKline Beecham, Procter & Gamble, Mega Plastic Nig limited, Twinstar Nig limited, and Femina Hygienical Products Nig. Limited and Linda Manufacturing Company.

Those on the verge of shutting down include Unilever, PZ Industries, Prime Pack, and Reckitt & Benckiser.

One of the companies about to shut operations in Nigeria is Kimberly-Clark because of high energy costs, expensive raw materials, and reduced customer demand.

The company, it was gathered, has reduced shifts and implemented other cost-cutting measures in a bid to remain afloat.

The company’s $100 million factory, located in Ikorodu, Lagos State, was commissioned two years ago by former Vice President Yemi Osinbajo to produce diapers and sanitary pads, among others.

Firms lament
Lamenting the plight of the sector, Executive Secretary of CANMPEF, Mr Olorunfemi Oke, said the exits were painful, saying more worrying is the fact that challenges faced in the sector were inflicted by government policies.

According to him, the challenges confronting the sector are floating of the naira, depreciating currency and volatile exchange rate, fuel subsidy removal, high exchange rate for computation of import duty, high interest rate, epileptic power supply with the recent increase in tariff that has tripled electricity bills and made it unsustainable for businesses; and inadequate gas supply for firms, and high cost of diesel.

He also named poor road conditions, multiple taxations, a high inflation rate of over 34 per cent, weak consumer purchasing power, and insecurity across the country.

The executive secretary said: “The effects of the socio-economic challenges on the manufacturing companies are enormous. Most of our member companies are just managing to survive. We cannot access forex for purchase of raw materials and machinery.

“High import duty cost is discouraging importation of raw materials and machinery. High energy costs have resulted in high production costs. Unreliable power and gas supply disrupts production schedules and increases operation costs.

“We are experiencing high reduction in capacity utilization and increased production slowdowns, huge foreign exchange losses suffered by many member companies, especially the multinationals, and reduction of profit. Majority are recording losses.

“There is also declining market share and growth potential and inability to compete with imported products. High interest rates discourages business expansion. There is growing weakness in consumer purchasing power. Companies are shutting down some of their operations. This has led to retrenchment of employees. The hyperinflation has led to an increase in the cost of living of employees and an adversarial industrial relations climate in the sector.

Shutdown
“While I don’t want to sound alarmist, tens of member companies from the multinationals, medium and small scale companies have shut down. Some of the companies that have closed down are Glaxo SmithKline Beecham, Procter & Gamble, Mega Plastic Nig Limited, Twinstar Nig Limited, Femina Hygienical Products Nig Limited, and Linda Manufacturing Company. Similarly, among those on the verge of shutting down include Unilever and PZ industries.
‘’We are very pained by these developments. Let us take for example the case of Linda Manufacturing Company and Kimberly-Clark.

Linda Manufacturing Company which was producing synthetic hair attachments and other accessories was employing and keeping our young girls off the streets and criminality. Only God knows what these young girls will turn to now that they are out of jobs. And for Kimberley Clark which produces Huggies diapers, and sanitary pads, with the imminent shutdown of its Ikorodu production facility two years after investing $100 million in Nigeria. Remember that the former Vice President, Yemi Osibanjo commissioned the factory two years ago.

The company has been producing below-installed capacity since late 2023 because of the harsh economic environment in the country. If this company is allowed to exit Nigeria, it will add to the sad story of the worsening crisis in our sector. The pathetic situation of this firm is that in 2022, the company commissioned a $100 million production factory in Ikorodu, Lagos State which was inaugurated by then vice president to resume operations after an earlier closure of operations in 2019 following a review of its business. Apart from these woes, 80 per cent of the remaining member companies are operating at low-capacity utilization.

Job losses
While Mr Oke was not forthcoming on the number of job losses, Vanguard, however, gathered that no fewer than 100,000 Nigerians have lost their jobs in the sector.

Speaking further, he said: “As a Nigerian, it is sad and frustrating for me to talk about my fellow countrymen and women losing their means of livelihood in this manner.

‘’A lot of people have been thrown into the job market. The figure is huge. We are talking about direct and indirect employment, comprising suppliers, distributors, drivers, contractors, and traders among others. I do not want to give a figure. But I can tell you without mincing words that it is huge.”

Way forward
The CANMPEF scribe called on government to address challenges facing the sector by “giving concessions on the allocation of forex to the manufacturing companies, reduction of import duties for raw materials for an essential sector like the pharmaceutical industry, reduction in import duty charges, improving supply of energy and gas to manufacturers, reduction of the rate of energy charges by power distribution companies, DISCOs, stopping multiple taxes by the local, states and federal government agencies, signing and implementing the new national minimum wage bill to improve consumers’ purchasing power, focusing on rehabilitating selected roads to reduce logistics costs and fixing the nation’s refineries to enable access to petroleum bi-products that serves as raw materials for the chemical industries.

“The industry is import- dependent because of the nature of its products and its raw materials are chemicals majorly from the petro- chemical industries. ‘’The Federal Government should take urgent action to stop manufacturing companies from shutting down.

Government should support the companies to thrive and increase employment and reduce insecurity challenges in the country.

“The only member companies that seem to be doing well today are the cement manufacturing firms because of road constructions and other related businesses.”

Voda Paint MD reacts
Also speaking, the Managing Director, Voda Paints Limited, Mr Rotimi Aluko, blamed unreliable power, unstable currency, difficulty doing business, steadily rising inflation, insecurity, multiple taxation, and poor infrastructure, among others.

Aluko, who is also the Vice President of CANMPEF, said: “Like most of the sectors making up the Nigerian industrial landscape, the chemical, leather, food sectors are all struggling to survive economic hardship that, looking back now, has actually been long coming.

‘’It is, indeed, very hard to find any one sector of the economy that is not impacted by the numerous issues which those doing business in Nigeria have really been enduring, starting with unreliable power, unstable currency, difficulty doing business, steadily rising inflation, insecurity, multiple taxation, poor infrastructure, etc.

“Currency tweaking and the associated policies in concert with the removal of petrol subsidy and the floating of the naira, have helped to compound the pressure on industrial operations generally.

“The consequence on the consumers is depletion of disposable income, such that most households are in tight adjustment as their income is hardly coping with necessities.

“Most industries rely on bountiful discretionary income to survive. That is the crux of the pain in the sector. Demand has significantly dropped and so goes production and ultimately income.

“It is, indeed, very tough, especially for sectors outside of households’ eessential or committed expenses.

‘’Even those in essential expenses column are grappling with the consequences of reduced demand, owing to downward adjustments by consumers of quantities and quality of their purchases as a result of inflation-driven loss of purchasing power.

Survival mode
“I think how the sectors have been coping can easily be deduced from all the aforesaid; we are in survival mode. Sacrifice, cost-cutting as much as feasible, mounting bills, income stagnation, abandonment of key projects, reduced hours of operation/attendance rotation, etc. Everyone is scratching the ground as well as their heads for whatever will aid to keep them afloat.

Way forward
On ways out of the challenges, Aluko said: “Government action. It is all down to what the government chooses to do and not do. The truth starts with how the government views and treats manufacturing. If manufacturing is taken as the most strategic value-adding local content economic weapon that it is, Nigeria will transform into the league of leading nations of the world!

“Not even crude oil can come close. Why? It is manufacturing that can harness our immense reservoir of human talents to serve as an engine for the conversion of the bountiful contents atop and beneath our God-given land and those beyond our shores into products capable of becoming the biggest foreign exchange earners as experienced by China and several other Asian economies.

“Government just has to step forward to help get the necessary building blocks in place and put right the business environment, such that Nigeria will rank high among nations having very attractive level of ease of doing business.

“For this to be, the government has to make these investments and protect local manufacturing. This is non-negotiable. All advanced nations and those who have climbed up to join the top league did it at one point or another and are still doing it.

“The most powerful economic and military power in the world is currently engaged with China openly as an example.

“We have done it before with huge success when in 2007, Nigeria clamped down on the importation of cement by companies without local cement manufacturing investment. The result is huge.

“Before the implementation of the smart act of protection, Nigeria in 48 years of cement manufacturing preceding the protective action, only grew to about seven million metric tonnes of cement production per annum and in the 15 years succeeding the policy, has grown to over 60 million metric tonnes production/per annum.

“Do that across several sectors integrating farm produce conversion, petrochemicals, basic chemicals, natural resources, basic tools, electronics, etc, Nigeria will be an unstoppable giant. It has potentials.

“The government should declare a clear form of emergency in the manufacturing sector. It should subsidise consumption via manufacturing subsidy by way of tax relief, duty/tariff removal on agricultural and manufacturing inputs. The gains will come in many folds.

“First of all, our youths will be gainfully employed and stop idling away their lives or hawking things they should be producing in the first instance. Savings on social and security costs cannot be estimated.

“Government should put in place necessary administrative and legal firewalls against those who might truncate gains of the strive towards the achievement of good level ease of doing business across the country and sectors.”

Labour begs FG to intervene
On his part, the National Secretary, National Union of Chemical Footwear Rubber Leather and Non-Metallic Products Employees, NUCFRLANMPE, Joseph Dada, pleaded with the government to intervene immediately to save the sector from imminent collapse. He said: “Our industrial sector has been finding it extremely difficult to operate smoothly and effectively for the past two years.

‘’Bad government policies have negatively affected the running of our sector. Many of the industries have relocated to other African countries where they can do their business with ease and maximise profit.

“Our government, through the Central Bank, has increased the lending rate to over 30 per cent, which is not good for manufacturing and chemical industries to break even as most raw materials are imported. We cannot do backward integration.

Economic distortions
“The industries are groaning under the outrageous tariffs imposed by DISCOs and others responsible for the supply and distribution of electricity to the industries in Nigeria.

The tariffs are doing nothing other than kill the industries. This is compounded by the removal of the petrol subsidy that has turned the country upside down since last year. The consequences are part of the socio-economic distortions plaguing the nation.

“Some of the companies that have relocated to other African countries are multinationals, such as Procter & Gamble and GSK Pharma, Femina Hygiene, and Twinstar. Many others are on the verge of closing down any moment from now because of the unfavourable economic policies of our government.

“Hundreds of workers have lost their jobs as a result of management’s inability to provide raw materials in their various companies. Those that are managing to produce are producing below 20 to 25 per cent of installed capacities.

‘’We are still compiling the list of job losses. I can tell you it is mind-boggling in a country with very high unemployment figure.

Enabling environment
“We are pleading with the Federal Government to urgently halt this alarming trend and create enabling environment for industries to have access to foreign exchange from Central Bank of Nigeria for manufacturers to get forex to import raw material for industries to produce.

“The issue of unsustainable tariffs as well high cost of fuel regime must be addressed immediately to save our industries from total collapse. We are not equally unaware of the issues of excessive and multiple taxation from all levels of government, insecurity, poor state of our roads and very low purchasing power of most Nigerians. The government should come to our aid as renewed hope is gradually turning to sustained despair.”

https://www.vanguardngr.com/2024/08/distress-as-harsh-economy-forces-shutdown-of-over-50-firms/amp/

Until all the manufacturing firms shut down completely, then we can't access consumer goods again, we will resort to imported goods and this will have a knock on effect on the exchange rate...More Job loses looming.

This is when this government will understand the realities of the present day situation.Na statistics we go chop?

nairavsdollars:
Is that not the Uzodimma Supreme Court judge who was barred from entering US?

Yes, she was barred from entering US to attend judges conference.

SmartPolician:
Fuel subsidy cannot return at this time. The way forward is to work on alternatives like CNG. Fuel subsidy was costing this economy so much and oil cartels cashing out with it.

The same person said subsidy was a scam in 2012 and organized and call out people for protest.

Why is he changing the tune of the music now?

Salewa97:
Kano and its endless drama.

Another round of protest circus, as if that’s the solution to our problems. Instead of constructive dialogue, we’re just watching people shout and wave banners. When will we learn that protests rarely lead to real change? Just another day in Nigeria where noise is mistaken for progress.

Advice the government to do the needful and leave the protesters to a peaceful protest to exercise their fundamental right as entrenched in the constitution.

nusirat:
Let's just be careful so the street urchin, the baddest boy will not use it as an avenue to perpetrate evil.

Who owns the street urchins?

Who are they working for??

Are they immune to arrest and prosecution

JohnBullMySon:
Last last this so called protest will be a big flop in Southern states. But things might get crazy up north.

Why will it get crazy up north?

helinues:
Continue running your mouth behind your keyboard.

Are you supporting this government? This is how we allowed Buhari to run for 8 years and destroyed everything.

All this nonsense can never happen abroad because it will be meet with stiff resistance by the protesters.

Ola9ja23:
What if the protest degenerate into violence and vandalism of properties as well as arsonist looting shops? Would you be there to face the wrath of law with your lives ?


For every action there must be consequences

Is it not the duty of the government to provide security and ensure that the protest doesn't lead to violence?

End Sars protest was peaceful until hoodlums and arsonists sponsored by the same government hijacked and turned it into violence?

They must provide adequate security and arrest anyone who wants to cause mayhem.

HIGHESTPOPORI:
They will leave sowore and Northerners that want to protest and attack Igbos,cowards

I'm waiting for Bayo Onanuga on this.

Connorr:
Let's respect other people's traditions abeg
.
Meanwhile at a cheap price dm me for your logo and flyer design

The same way they should respect the rights to protest..

They should move their oro festival to another time..

The days of NADECO are long behinde us. We all know what protests have now turn to around the world. When you light this fire u wont be able to quench it. It will achieve nothing but destruction.

Advice your president to do the needful so they won't be protest... Return fuel price and exchange rate where he met it.

The policies and reforms are practically not working but just a paper talk.

RichBoy247:
Any group of idiots wey wan make Ogun drink their blood, make dem troop to the streets. Protests will be shot at sight with AK-47, survivors will be re-shot with AK-49. No single protester will be allowed to run away, if you run, you will be chased and sacrificed to the gods of Yoruba land including Ogun, Sango, Obatala, Osun, Aiyelala and Esu Odara

Is this what happens in countries of the world.. Shooting at harmless protesters

What about snipper?

We have no busy importing fuel in the first place.

Notice like this should be sent earlier not a week to resumption..When will this Government learn..

Unfortunately, the curriculum we run here in Nigeria and the external exams we write doesn't give room for these flexibility. In a British system of education, Primary pupils and Junior take few subjects, they write just three papers during exams. Maths, English and Science..

Same with the senior Secondary School Students in Nigerian Schools, they take like 12 subjects and enrol like 9 subjects for external exams. Students writing IGCSE exams under the British Schools, take maximum 5-6 subjects.. Their exams is even divided in two, core and extended students.

Go and look at our scheme of work and curriculum, it's too broad and knowledgeable based. They're topics to teach during mid term break and even to week 12.

I don't understand why they are still in detention..Charge them to court for any offense and let the law take it course. Putting people under house arrest is a violation of their fundamental human rights.

This is not democracy that we copied from the West. We keep critizing the military regime, have we progressed or regressed as a nation?
I don't think we experienced all these chaos under Obasanjo, Yaradua and Jonathan.. This started under the administration of past regime. PBAT claimed to be a Democrat, so I want to see him lead by example.

It's high time we stopped hating ourselves, put religion, tribalism, ethnicity and nepotism aside and embrace peace and unity. These have been the routine politicians campaign with. If not, Nigeria might cease to exist, because it's not getting funny anymore. I rest my case.

*Vacancy!* *Vacancy!!* *Vacancy!!!*

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Market forces will determine the price...The price will definitely fall..Can we still trust this APC government?

Market forces will determine the price abi no be so. The only way out of this mess is to fix or privatize our refineries or else, it will hit 1k per litre soon.

indoorlove:
There's absolutely no need to waste students time writing WAEC exams. I would suggest you just hand them their certificates after completion of SS3.

Reasons:
1. Leakages, Exam question papers are
usually out, day or two days to the exam
date.

2. There are plethora of websites offering
WAEC *RUNs* as a service.

3. Examination Malpractice has characterized
both Private and public schools.

4. The sad part is that, WAEC as a body are not
doing enough to curtail these menace.

It's terrible.

You said it all. Examination malpractices has damaged the system.. Funny enough, the examination body pretends as if all is well and go to the press to ditch out statistics that doesn't worth it.

WAEC has lower the standard of their exam questions. Everything is just too easy to pass now!

I completely disagree with you on the standards of the examination. Infact, take time and look at the quality of the questions, then you will see how technical they're especially the sciences.

The reason why we have a very high pass rate is the increase in examination malpractices and miracle centres scattered all over the country. I can give you names of schools that involve in malpractices and you investigate yourself.

WAEC has failed to address this and it has a long term effect on the educational sector and also reduce the quality of graduates produce in our universities.

Let us wait for Lie Mohammed to confirm if it is true

The curse of Tammy Abraham hanging over Chelsea[/b][/quote]Deluded Chelsea fans, selling Abraham and buy a lazy Lukaku who was a flop in Man United before moving to intermilan..

It is now obvious for those of them laughing and throwing jab at Arsenal even when they started the season strongly.. How on earth will you spend heavily on Harvetz, Chilwell, Ziyech, Pulisic yet no results...

They want to buy Fofana for £80 million

[quote author=prinsam30 post=115669275]bros abeg I no get strength I dey vex
I hope u are watching..... Biko which type of bonding would you suggest: covalent bond abi electrovalent or na metallic bonding... [L

Na intermolecular forces attraction, Van der Waal precisely.

bros abeg I no get strength
I hope u are watching..... Biko which type of bonding would you suggest: covalent bond abi electrovalent or na metallic bonding... [L

Na intermolecular forces attraction, Van der Waal precisely.

KennethG1994:
Mark my words, today will be the first and last time Arsenal will be on top of the EPL table

Oga park well joor...You were disappointed tonight?