₦airaland Forum

owagbeba:
USD is the international instrument for exchange[b][/b] of goods and banking . Other countries don’t accept NGN.

Discourage import when local manufacturing is comatose? Insufficient power supply, lack of ease of manufacturing, quadruple taxation, how do you encourage manufacturing in this atmosphere?

You think excessive taxation is good? The result is high inflation.. items will be expensive at local markets.

P&G will now import their stuffs to reduce the losses of manufacturing in this environment.

why is that....??

why should dollars replace gold and silver that the world was dealin with for centuries....??
america can print themselves into oblivion and the rest of the world can carry the load....

nonesense....

Fearyourcreator:
Na money wey dey that importation them dey eye

bros....its always the same game over and over again....

this is even good news sef....
people will have no other choice than to look localy again....

Fearyourcreator:
Oil dey your head... Nigerians should guard the naira jealousy for the good of all

exactly....

criuze:
One day we'll wake up and there's.
nigeria any more

they have brainwashed you to think anything foreighn will solve the problems....
now that it even became even worse,you still want to blame yourself....

anybody that is not happy should leave nigeria....

we will vote who we want and their is nothing people like you can do about it....

una go go court tire....

Fearyourcreator:
Simple ... Nobody dey hold anybody

thank you....many nigerians are startin to see through this nonesense now....



they only come to nigeria for the dollars....
nothing else....
when we tell una this foreighn companies are doing nigeria no good,una will not listen....
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Dafresh:
And Nigerians that went to US, CANADA went there for Naira abi, you support this wickedness

it depends what you mean with wickedness....

you can continue like this for all we care....

when dollar reach 4k naira na then una will know sup....

cbn cant give what they dont have....
soo....
or you want cbn to start printin dollars out for una....you funny....

OChimex:
How old are you?

Who told you business is run with dumb emotions and sentiments, the way una dey vote any idiot based on such dumb sentiments?
Business is purely for profit making, young man whether local or foreign.
When that is not achieved, you gat to leave of find a way to make profit.
If una like continue voting idiots into power sake of say my tribe and religion, they will continue to destroy your country beyond repairs.
Mind you, I left the idiotic country years ago

good for you....
stay where you are....dont come back....

Irony1:
please shut up

i will not shut up....

anybody that is not happy with the way things are in nigeria should leave....

you included....

wirinet:
A company have been operating in Nigeria for 3 decades only came to Nigeria because of dollars?
A company that invested in Nigeria at the height of military dictatorship is now after 24 years of civil democracy, and my friend Deepsight would posit that the worst of democracy is better than the best of military dictatorship.
It seems Nigeria attracted more foreign direct investments (not portfolio investments) under military than under democracy.

PZ, Michelin, GlaxoSmithKline, Shell and many other multinational companies left nigeria since the start of this 4th republic.

soo,your solution is to return back to military rule....??

i dont even care sef....

my point is,they are here for the dollars or else they wouldnt care that the economy is not doing that well no more....

btw....they dont earn that much no more in their own countries either today....
dont let them deceive you to subsidies them....
subsidies should only be for local companies only....

Alwaysachick:
What of the job loss? Is it your dad that will replace them?

guy,they dont hire as much people as you think....

for example....how many nigerians did this particular company hired....??
do you even know....??
did you even bothered to find out....??

10....??
20....??

how is 20 nigerians this foreighn company hired gonna change anything....??
you need millions of jobs or not this few....

100....??
200....??

Ondoterrorist:
We know you

you cant be only importin and not exportin much....

the most successful countries look for balance....
when possible even more export than import....

okoroemeka:
do you know how much diesel a 200 kva genset will gulp in 12 hrs?at #1200 naira/ltr,the lack of reliable power is a big factor that affects manufacturing in Nigeria

they are no easy solutions for nigerias problems....

i just looked how much a average nuclear power plant generate the other day....around enough power for 100 000 households....

that means even if we manage to go nuclear power,we will still need many of them....
forget politicians promisin you things....

check the stats yourselves....

any foreighn company that doesnt see the naira as useful shouldnt open shop in nigeria....

what should we do....??
dish the naira and start usin dollars because of them....??

comman....

the same thing with you igbo importers too....
you dont like it go open shop in foreighn nations and get your beloved dollars their....
dont stay in nigeria and be awaitin us to provide dollars for you....

ChybuzzDD:
What kind if stupid reasoning is this just to justify a useless government??

When you and your kinsmen travel abroad, what do you go there for?

To stare at their skyscrapers? You guys should keep defending nonsense.

ehen....why is the unemployment rate still not going down although they are here....??

think about that....
workers wages is very low in nigeria compared to other nations,but they are not realy hirin....

am tellin you,they are only here for the dollars....
have you forgotin how people protest in oil producin states....??

ask yourself why....

grandstar:
The company thought things would look up with a new government once Buhari was out of the way.

However, Tinubu has fallen short of expectations.

The elephants in the room are the $7b demand the CBN is yet to clear.

The other is the CBN refusal to fight inflation with gusto by increasing interest rates and the statement that inflation would hover around 21.4% next year. This was the joke of the century.

Government needs to slash company tax to 15% or less. This will drive investment in Nigeria and boost economic growth.

To clear the $7b, the government would need an IMF bailout. However, the IMF won't lend the nation the cash with the CBN's pro inflationary interest rates. It would demand the issue addressed.

It would also demand cuts in the size of the civil service, which would trim government spending. It would also demand the deregulation of the petrol and electricity prices which would further cut government spending. They would also demand liberalization of imports

Many of these proposals are dead on arrival, especially the sacking of civil servants and deregulation of electricity and petrol prices.

Anyways, P&G exit from the country is not a death sentence. Many Nigerian owned companies are taking over the landscape, able to thrive in the harsh conditions of doing business in Nigeria. We have brands such Biggie and Viva taking over the landscape.

Nevertheless, it would be great if P&& stayed.

nonesense....abandon the western payment system....
brics is a altenative....concentrate on that....

Skyview01:
Keep quiet if you have nothing meaningful to contribute to a discussion. There is a value in silence.

The purpose of every business is to make profits and create value in the process. These businesses employ thousands of workers in the process and the employees in turn spend money in the economy. Do you have any job for them if they become jobless?

Why do you think the president is always traveling looking for foreign investors? It is never a good thing when investors leave.

You might probably be a recalcitrant teenager who still lives with his parent.

best solution is to promote local producers....nigerians then will hire nigerians....
then only nigerian companies should be subsidies for raw materials that are not available in nigeria....

nobody else....worked well with dangote,we should do the same for other nigerian companies too....
then the economy will grow again....

this foreighn companies dont hire that much nigerians as una think....
its all propaganda....

before defendin any of this foreighn companies,go find out how many nigerians they realy hire....

TrumpDonald2:
Dont mind FreeStuffsNG always making noise about foreign investment. Not knowing that at the long run, its of minimal benefit to the country.

We should look for ways to promote local investors and local production.

https://punchng.com/foreign-investors-repatriate-5bn-dividend-cbn/

exactly....they all thought bringin in foreighn companies was the magic solution....
look now....as soon as this companies have monopoly,they start pressin your neck....

YourGFsnatcher:
I hope all foreingers leave your country and place a sanction on it so that you will go back to Stone age. Failed people

you cant scare us with sanctions no more....

then we do business with only nations that you santioned too....

Daystar7:
You just displayed stark illiteracy. Shameless

noo,they are tellin you themselves that they are dollar based....

soo,read before accusin me....

nigerians are strange....no other country jubilates that foreighners take over their local production sector....

fee dee fee lied to una that privatization will solve all problems....
now it has become much worser....

Princebest:
Sad. I pity those that will be out of job as a result of this.


Thing like this is why being self employed is still the best.



Check my Bio for easy skills to help you start up something for yourself.

nonesense....

how many nigerians do you think this rubbish companis hire in nigeria that justify them doing anyhow....??

if they cant operate in nigeria,then they should go....
last i remember,nigeria has local pharmacy companies too,that they drove out of business....they will retake their place again....

owagbeba:
It is very difficult to do business in Nigeria. P&G import raw materials for their local production. Just like many business including mine, it is difficult accessing forex.

Take this example

You have a shipment worth 70,000USD at Apapa port. You apply for form M, then you pay 300k SON documentation to apply PAAR.

You get a surface duty of 10,500,000 which goes up to 15,000,000 After DTI computation and entry.

You pay your stipulated, only to see on Ascoda system that your import has been alerted by the same folks at Abuja that issued you PAAR for no reason. Then you begin negotiating for the cancellation of this alert. Negotiation equals settlement in this part of the world. You go through the hoop settling myriad of agencies: police, CIU, SoN, DC squad , chief examiner. Etc.

Finally you get an exit note. Customs at Gate now queries your exit note. They say your 20% duty rate is not sufficient. Government has a target to meet. You have to settle or else you get a DN. When you are done with all these groups eager to get a bit off you, you are faced with another group on the roads: FOU and Agbero. The whole process of doing anything in this country is sooooooo frustrating .

The funniest part… don’t ever think the past is gone. There is a new group called customs post audit. They review all previous releases and re-issue DN on these cleared cargos. Every dept has a target to meet. You must cough up or be damned…. Go figure!

its not the job of nigeria to be providin you dollars....

if you want dollars,then start your business in america that controls dollars....thats common sense....

if the raw materials you need for your business is not in nigeria,then it makes no sense to open shop in nigeria....
from were do you think nigeria gets it own dollars from....??
you think america dash them....??

you are blamin the wrong people....
you want dollars,international companies want dollars,common people want dollars....
to add salt to injuries,you use aboki when you have dollars other than cbn....

its good the way nigerian customs are doing it....to remind you people that nigeria is not a dollar economy but naira....

imports should be discouraged at all cost....

Ondoterrorist:
Sharap

We know thee Afonjaa

am not readin what you repost what i wrote after you manipulate them....

you are only foolin your igbo selfs....
we have learned to ignore you people....

Ondoterrorist:
Go for PTSD test ASAP okay .

Na from yabbing them dey tell person true.

You no too well , I no be Delta ibo and I have no problem with ibo .

Na only your papa know ibo girl when carry e house rent run

you were warned....

i was not the person that opened this thread....remember....??

Justiceleague1:
That one na human being?!

am not....

dont insult me....

they only come to nigeria for the dollars....

nothing else....
when we tell una this foreighn companies are doing nigeria no good,una will not listen....

gidgiddy:
The constitution of Nigeria does not recognize anything called South/South, anything called Regions

we are not part of biafra....

thats automatical declaration of war if you add us to you....

Adewale1603:
that head tie is her trade mark

stvpid....

BreakingNews21:
Pls don't insult the animal kingdom.

he is fun....just dont add us to you....

then we okay....

Ondoterrorist:
OGA my only problem is Afonjaa and Ronu

Ibo did nothing to me let that sink in

if you want to be delta igbo,no problem....

but associatin the ol south south to them because you are delta igbo is a big no no....

our fight will not end until you understand thats not gonna fly....

i am not igbo,and i have no interest atall to be....
you are askin for trouble....