I am beginning to see the light in this buharis government. As a member of the opposition I have been repeatedly told to close my eyes to anything good coming from this government and rather attack anything good with lies all the time. I repeat, all the time. This has become almost like a brainwashing technique and has rendered many unable to think for themselves.

It was hard for me to break free from this brain wash but I was finally able to do so and now I have begun researching all the issues my party has raised against the ruling party.

One of those issues is about an alleged 10 million job loss. I dug around and discovered that if indeed this is true (although there is no viable data out there supporting this claim and it remains simply gossip, I rather found verifiable data that shows that it was worse under my party.

This is a report in 2012 about how 800 companies closed shop under my partys rule.


800 companies shut down in 3 years, says NACCIMA
September 11, 2012
Premium Times

Commerce Association says that more than half of the surviving firms are “ailing”.

At least 800 companies closed shop in Nigeria between 2009 and 2011, due to the harsh operating business environment, the Nigerian Chambers of Commerce has said.

The companies that have survived are also having serious challenges as more than half of them have been classified as “ailing.’’

This was disclosed by the President of Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture, NACCIMA, Herbert Ajayi, on Tuesday, in Asaba, in a paper he presented at a zonal workshop on economic diversification organised by the Revenue Mobilisation Allocation and Fiscal Commission, RMAFC.

Mr. Ajay said the current situation of the “surviving” industries poses a great threat to the survival of the manufacturing industry. He added that capacity utilisation in industries hovers around 30 per cent and 45 per cent on the average, with 100 per cent overhead costs.

He blamed the continued decline in the manufacturing sectors on “political and economic factors’’, citing poor infrastructure and epileptic power supply as key impediments to the industry.

“The manufacturing industry as a whole operates on more than 70 per cent of energy it generates, using generators; and operating these generators greatly increases the cost of manufacturing goods,’’ he said.

The industrialist gave other reasons for the woes in the sector as incessant increase in the price of petroleum products used by industries, multiple taxation, unabated smuggling and inadequate access to finance, both local and abroad.


He said widespread insecurity and the inability of government agencies in the ports to meet their 24-hour target, for cargo clearance, have contributed to the dwindling fortunes in the manufacturing sector.

Government efforts inadequate

The NACCIMA president, whose speech was delivered by the Vice President of the association, Mary Iyasere, described current government policies to revive the manufacturing industry as inadequate.


“For instance, in May 2010, the government announced a 1.3 billion-dollar fund to help banks extend credit to the manufacturing sector following the decline in available finance after the global economic crisis had set in.

“Notwithstanding this positive development arising from the reform process, the Nigerian economy, especially the manufacturing sector is still confronted by serious challenges, structural imbalance and lack of diversification,” he said.

“The current government policies targeted at the real sector (manufacturing) are also inadequate and preventing the manufacturing industry from flourishing,” he added.

The way forward


On the way forward, Mr. Ajayi stressed the need for the organised private sector to support the government’s efforts to revitalise the sector through the much-canvassed public private partnership.

He also called for more transparency in the ongoing government-led privatisation exercise of public enterprises.

Quoting statistics from the Bureau of Public Enterprises (BPE), Mr. Ajayi said between 1999 and 2011, a total of 121 firms were privatised or commercialised, with about N250 billion realised from their sale.

“It was also reported that 81 of the privatised firms were operating at about 66 per cent and 41 at 34 per cent performance level,” he added.


The NACCIMA president, however, observed that the figures are in stark contrast to the position of the Senate ad-hoc Committee on Privatisation, which posited that 80 per cent of the firms are not performing.

In addition, he said Nigeria can borrow from the lessons of the economic policies of the “Asian Tigers” — Hong Kong, South Korea, Singapore and Taiwan — to boost the manufacturing sector.

He, however, warned that Nigeria must exercise “caution” in trying to imitate the Asian policies. He explained that government needs to consider the peculiarities of the nation’s economy and marry it with those of Asia in areas “where policies are applicable rather than wholesale adoption”.


“This is because the casualty between growth and industrialisation could prove to be a costly mistake as seen in other countries, in pushing for rapid industrialisation,’’ Mr. Ajayi stated.

NAN

https://www.premiumtimesng.com/business/99757-800-companies-shut-down-in-3-years-says-naccima.html

Oam4j, mynd44

Another low from d APC govt always trying to justify their failure with d excuse that Nigeria has been in a failure status before they came. The change mantra was because people want a shift from d status quo then and u were brought in to make it better. Since u v now admitted that u can't do that there is now a more compulsive reason to try another

m

Here is another spanning from 2000 to 2008

802 companies closed shop still under PDP government



Manufacturers Association of Nigeria (MAN), has declared that 820 manufacturing companies have closed down in the past nine years of civilian rule and rendered thousands of people jobless, even as the Federal Government said the solution may not be very quick in coming . Udenwa Addressing top government functionaries, policy makers and industrialists from across the country, during the 37th annual general meeting of MAN, in Lagos, MAN President , Alhaji Bashir Borodo, disclosed that between 2000 and 2008 about 820 manufacturing companies have closed down or temporarily suspended production, and urged the Federal Government to take pragmatic steps to save the sector from imminent total collapse.

He blamed the growing closure pattern that is on the increase in our industrial landscape on tough operating environment that is characterised by unstable electricity, high interest and exchange rates, smuggling, high cost of AGO and LPFO to power their generators or boilers including multiple taxation and levies slammed upon the manufacturers by the tiers of government, etc. “The lesson of the past few years have shown that if local manufacturers are to survive in a globalized world, the provision of energy can not be compromised particularly in our peculiar situation where the upgrading of energy production had suffered almost 30 years of neglect.

 From all account, the level of investment required to reverse the decay arising from prolonged neglect would be massive,” he said. According to him, aside the problems of energy, other challenges faced by manufacturers have been compounded in the last 24 months by unfavourable terms of credit to the sector. “Manufacturers continue to groan under the high interest rates and lack of long term credit. Similarly, in the last six months, macro-economic indices were disrupted when the exchange rate of the Naira fell suddenly by almost 20 per cent after a relatively long period of stability.

The combined effect of high interest rates and devaluation of the currency which hike inflation. Fielding questions on relocation of industries to neighbouring countries such as Ghana, Borodo noted that it is a very worrisome development. “This unfortunate trend is a matter of serious concern and should be halted in view of Nigeria’s unchallenged leadership role as the hub of industrial production in West Africa. It should be noted that no national industrialist would wish to ignore Nigeria’s market with its strength and potentials.

 We also need to acknowledge that this development is the outcome of breakdown in infrastructure. This is a wake up call for Nigeria to remove infrastructure road blocks and provide incentives. The reality is that notwithstanding the relocations already effected and others that may follow, the obvious and primary market target of these industries remain Nigeria.” He urged the Presidency to take pragmatic decisions and political will to implement the 7-point Agenda and Vision 20: 2020, as this will provide veritable platforms to harness the best of Nigeria and transform it in the shortest time possible.

Minister of Commerce and Industry, Chief Achike Udenwa, acknowledged that power is the major problem facing manufacturers in the country, stressing that the Federal Government is determined to achieve the 6000 MW targets by the end of this year. The government, he maintained, hoped to achieve this by vigorously implementing all projects under the National Integrated Power projects(NIPP). This, he believes will bring some measure of succor to Nigerians and manufacturers, and progress will be made. “Be rest assured government is behind you.

 We really feel your pain. If there is no manufacturing industries, my ministry will cease to exist. The solution may not be very quick in coming, yet government is addressing them,” he said.

Read more at: https://www.vanguardngr.com/2009/07/820-manufacturing-companies-close-down-in-9-years-man/

If 1600 companies closed shop in our PDP years then imagine how many people were pushed out into the labour market and rendered jobless due to the folding up of these companies and businesses.

I have told enough lies for PDP and I want to come clean now and stop with the useless and foolish lies.

We had 16 years to set Nigeria on a journey of eldorado but we rather turned it to 16 years of doom and calamity on our economy and nation and these PDP handlers still want me to stand with them and keep lying as I talk about how they are the best thing since Jesus Christ?

Thunder fire them aggressively and mercilessly. Isee isee isee

jlinkd78:
Another low from d APC govt always trying to justify their failure with d excuse that Nigeria has been in a failure status before they came. The change mantra was because people want a shift from d status quo then and u were brought in to make it better. Since u v now admitted that u can't do that there is now a more compulsive reason to try another

I am showing you that my party are full of liars and deceivers. Trying to blame this government and frame it up for problems they caused and which was an epidemic in their days is just wickedness.

I have now been convinced that this present federal government is on the right track. Infrastructure means more jobs and more jobs means less poverty.

My party never did anything about infrastructure and didn't even bother.

May thunder fire them and all who support them

Butterflyleo

Incidentally the second link was during the time of the current candidate of my party Atiku. 2000 to 2008, 802 companies folded up and closed shop due to Atiku and Obasanjos nonsense way of government.

Now the failure in those years wants me to believe he is now suddenly a messiah?

God forbid

get your facts right bruv,i heard it's over 160,000 companies actually but you know what?Well meaning Nigerian have long Obidiently Atikulated.NO WAY FOR APCs SCAM! Preach that to your fellow zombies whose minimally low IQ buy osibanjo's daily 1 million eggs & 594 cows school feeding scam...our honorable PASTOR!

@ OP, is this comparison supposed to be a basis for more companies to shut down under the present APC Government?

Walahi, your case is pathetic!

Back to daura is a call to service every well meaning Nigerian must be passionate about.

PureMe01:
get your facts right bruv,i heard it's over 160,000 companies actually but you know what?Well meaning Nigerian have long Obidiently Atikulated.NO WAY FOR APCs SCAM! Preach that to your fellow zombies who buy osibanjo's daily 6 million eggs & 954 cows school feeding fraud.

Take your argument to the same press you are using to frame this present government for PDPs many years of repeated failings.

My eyes have cleared and I refuse to be a zombie to a liar and a deceiver like Atiku.

You can Atikulate your destiny away but make sure it remains in your family. Let him be president of you and your family.

I refuse to be an efulefu like you

In as much as I'd like to knack some sense to your head for trying to pretend to be a PDP member while you're the opposite, I'll refrain from doing so cuz my finger will hurt.

It is a known fact that PDP never impressed Nigerians when you were in the helm of power. Many things went wrong infact Bad, but the truth remains that there were more entities willing to come in and invest then than now. Then it wasn't funny but fathers had jobs and mothers could go to the market with N1500 and return with bagco bag filled with shopped items.

Now the reverse is the case. Companies are shutting down, investors are packing out. Daddy can't afford to spend extra on unbudgeted goodies and mummy spent above 5-8k to feed her home properly. It is beyond terrible now Mr, you see?

No matter the lenght of terrible list you bring up against PDP, that doesn't stop or prevent the fact that BUHARI is retiring to DAURA come 2019

Borderless:
@ OP, is this comparison supposed to be a basis for more companies to shut down under the present APC Government?

Walahi, your case is pathetic!

Where are the more companies that shut down under this current government?

On the contrary I am seeing investment flowing in, companies which were once shut down and closed shop in our PDP years now returning to reopen for business.

You may be blind and brainwashed but I am not

Fazemood:
In as much as I'd like to knack some sense to your head for trying to pretend to be a PDP member while you're the opposite, I'll refrain from doing so cuz my finger will hurt.

It is a known fact that PDP never impressed Nigerians when you were in the helm of power. Many things went wrong infact Bad, but the truth remains that there were more entities willing to come in and invest then than now. Then it wasn't funny but fathers had jobs and mothers could go to the market with N1500 and return with bagco bag filled with shopped items.

Now the reverse is the case. Companies are shutting down, investors are packing out. Daddy can't afford to spend extra on unbudgeted goodies and mummy spent above 5-8k to feed her home properly. It is beyond terrible now Mr, you see?

No matter the lenght of terrible list you bring up against PDP, that doesn't stop or prevent the fact that BUHARI is retiring to DAURA come 2019

I will work against PDP to ensure he remains.

We almost destroyed Nigeria in 16 years and left her comatose and now we expect a miracle in 4 years while knowing fully well we as PDP brought this mess on the nation.

Its either the devil himself has taken over the affairs of PDP and has taken control of the minds and hearts of all of us (I am free now) or you all just have a hate infested soul that hell will be too nice to.

Borderless:
@ OP, is this comparison supposed to be a basis for more companies to shut down under the present APC Government?

Walahi, your case is pathetic!

No, your case and that of other PDP supporters is mighty shameful and PATHETIC.

What the op has done is shove the raw truth down the resistant throats of incorrigible wailing liars who'd rather everyone believes Nigeria recorded no negative event under the killer party.

Stats shows that despite our depleted resources, which was made the case by no other party but the killer party, Buhari and APC has managed to keep our country afloat.

Had pdp been given the chance, perhaps Nigerians would have been faring far worse than Venezuela right now.

Thank God for giving us Buhari, Osinbajo, and Tinubu.

Officialpdpnig:


Take your argument to the same press you are using to frame this present government for PDPs many years of repeated failings.

My eyes have cleared and I refuse to be a zombie to a liar and a deceiver like Atiku.

You can Atikulate your destiny away but make sure it remains in your family. Let him be president of you and your family.

I refuse to be an efulefu like you

kikiki facts hurt zombies! they only resort to insults instead of marketing their lifeless bubu...buterflyle0 was doing the job better than you are presently even as a new bmc recruit until he failed the 11th commandment "thou shall not be caught" but why do i have this feeling that these are the fingers of buterflyle0 with a new moniker.lol..you must not miss this month's 30k.the hustle is real,i understand.

PureMe01:
kikiki facts hurt zombies! they only resort to insults instead of marketing their lifeless bubu...buterflyle0 was doing the job better than you are presently even as a new bmc recruit until he failed the 11th commandment "thou shall not be caught" but why do i have this feeling that these are the fingers of buterflyle0 with a new moniker.lol..you must not miss this month's 30k.the hustle is real,i understand.

Who is butterflyle0? You cannot even spell butterfly and you want to talk to me.

The truth is bitter but it must be told. PDP as a party was like an assassin bent on killing this nation by all means necessary.

I will not be a part of such an assassin of a party.

Tufiaaa

Officialpdpnig:


I will work against PDP to ensure he remains.

We almost destroyed Nigeria in 16 years and left her comatose and now we expect a miracle in 4 years while knowing fully well we as PDP brought this mess on the nation.

Its either the devil himself has taken over the affairs of PDP and has taken control of the minds and hearts of all of us (I am free now) or you all just have a hate infested soul that hell will be too nice to.

Gee, Guy, Bro, Nigger, Nna, O boy. Whatever suits you better. No body hates anybody, its the present stand of the economy we dislike. Its painful to know that in an administration with over 50 ministers has no produce any good idea that would improve their various ministries. Every executed projects are inherited from the previous administrations. If some one needs freedom and is in hate is you.

We aren't bringing PDP back to take over, rather we are bringing an improved, modern and more educated minds into the Gov't.

Officialpdpnig:
I am beginning to see the light in this buharis government. As a member of the opposition I have been repeatedly told to close my eyes to anything good coming from this government and rather attack anything good with lies all the time. I repeat, all the time. This has become almost like a brainwashing technique and has rendered many unable to think for themselves.

It was hard for me to break free from this brain wash but I was finally able to do so and now I have begun researching all the issues my party has raised against the ruling party.

One of those issues is about an alleged 10 million job loss. I dug around and discovered that if indeed this is true (although there is no viable data out there supporting this claim and it remains simply gossip, I rather found verifiable data that shows that it was worse under my party.

This is a report in 2012 about how 800 companies closed shop under my partys rule.


800 companies shut down in 3 years, says NACCIMA
September 11, 2012
Premium Times

Commerce Association says that more than half of the surviving firms are “ailing”.

At least 800 companies closed shop in Nigeria between 2009 and 2011, due to the harsh operating business environment, the Nigerian Chambers of Commerce has said.

The companies that have survived are also having serious challenges as more than half of them have been classified as “ailing.’’

This was disclosed by the President of Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture, NACCIMA, Herbert Ajayi, on Tuesday, in Asaba, in a paper he presented at a zonal workshop on economic diversification organised by the Revenue Mobilisation Allocation and Fiscal Commission, RMAFC.

Mr. Ajay said the current situation of the “surviving” industries poses a great threat to the survival of the manufacturing industry. He added that capacity utilisation in industries hovers around 30 per cent and 45 per cent on the average, with 100 per cent overhead costs.

He blamed the continued decline in the manufacturing sectors on “political and economic factors’’, citing poor infrastructure and epileptic power supply as key impediments to the industry.

“The manufacturing industry as a whole operates on more than 70 per cent of energy it generates, using generators; and operating these generators greatly increases the cost of manufacturing goods,’’ he said.

The industrialist gave other reasons for the woes in the sector as incessant increase in the price of petroleum products used by industries, multiple taxation, unabated smuggling and inadequate access to finance, both local and abroad.


He said widespread insecurity and the inability of government agencies in the ports to meet their 24-hour target, for cargo clearance, have contributed to the dwindling fortunes in the manufacturing sector.

Government efforts inadequate

The NACCIMA president, whose speech was delivered by the Vice President of the association, Mary Iyasere, described current government policies to revive the manufacturing industry as inadequate.


“For instance, in May 2010, the government announced a 1.3 billion-dollar fund to help banks extend credit to the manufacturing sector following the decline in available finance after the global economic crisis had set in.

“Notwithstanding this positive development arising from the reform process, the Nigerian economy, especially the manufacturing sector is still confronted by serious challenges, structural imbalance and lack of diversification,” he said.

“The current government policies targeted at the real sector (manufacturing) are also inadequate and preventing the manufacturing industry from flourishing,” he added.

The way forward


On the way forward, Mr. Ajayi stressed the need for the organised private sector to support the government’s efforts to revitalise the sector through the much-canvassed public private partnership.

He also called for more transparency in the ongoing government-led privatisation exercise of public enterprises.

Quoting statistics from the Bureau of Public Enterprises (BPE), Mr. Ajayi said between 1999 and 2011, a total of 121 firms were privatised or commercialised, with about N250 billion realised from their sale.

“It was also reported that 81 of the privatised firms were operating at about 66 per cent and 41 at 34 per cent performance level,” he added.


The NACCIMA president, however, observed that the figures are in stark contrast to the position of the Senate ad-hoc Committee on Privatisation, which posited that 80 per cent of the firms are not performing.

In addition, he said Nigeria can borrow from the lessons of the economic policies of the “Asian Tigers” — Hong Kong, South Korea, Singapore and Taiwan — to boost the manufacturing sector.

He, however, warned that Nigeria must exercise “caution” in trying to imitate the Asian policies. He explained that government needs to consider the peculiarities of the nation’s economy and marry it with those of Asia in areas “where policies are applicable rather than wholesale adoption”.


“This is because the casualty between growth and industrialisation could prove to be a costly mistake as seen in other countries, in pushing for rapid industrialisation,’’ Mr. Ajayi stated.

NAN

https://www.premiumtimesng.com/business/99757-800-companies-shut-down-in-3-years-says-naccima.html

Oam4j, mynd44

You can only deceive the uninformed with your 1st paragraph... You are well known. On Nairaland, not even the Internet, only a handful can be anonymous.

Fazemood:

Gee, Guy, Bro, Nigger, Nna, O boy. Whatever suits you better. No body hates anybody, its the present stand of the economy we dislike. Its painful to know that in an administration with over 50 ministers has no produce any good idea that would improve their various ministries. Every executed projects are inherited from the previous administrations. If some one needs freedom and is in hate is you.

We aren't bringing PDP back to take over, rather we are bringing an improved, modern and more educated minds into the Gov't.

Eziokwu bu ndu I will rather have life by speaking the truth than to stand with liars and saboteurs of this country.

As PDP we killed, destroyed and stole from this nation and still open our mouth wide to shift the blame on this government that has been busy trying to save what is left from what we destroyed.

Nigeria is bigger than PDP and nobody under this current PDP I know is better than the buhari who till tomorrow my own father still praises his government when he was head of state.

Anakogheri!

Op is none other than Butterflyleo the discredited fraudulent APC minion....,up to no good as usual.

Officialpdpnig:


Who is butterflyle0? You cannot even spell butterfly and you want to talk to me.

The truth is bitter but it must be told. PDP as a party was like an assassin bent on killing this nation by all means necessary.

I will not be a part of such an assassin of a party.

Tufiaaa

u see why i say zombies' lifeless dull dead brains can never be rejuvenated??when has nairaland usernames turned to a yardstick in spelling accuracy...but to help you my dear,the username "buterflyle0" existed here before going into extintion.i dont wana waste my time on a dullard

PureMe01:
u see why i say zombies' lifeless dull dead brains can never be rejuvenated??when has nairaland usernames turned to a yardstick in spelling accuracy...but to help you my dear,the username "buterflyle0" existed here before going into extintion.

And how does that concern me? I am busy saying something else and you are busy saying something totally unrelated.

You are PDP yes and I was like you but nzuzu adapugo n'anyam and now I can see clearly.

May aggressive thunder fire PDP and all who support her and lie for her, isee isee isee

PureMe01:
u see why i say zombies' lifeless dull dead brains can never be rejuvenated??when has nairaland usernames turned to a yardstick in spelling accuracy...but to help you my dear,the username "buterflyle0" existed here before going into extintion.i dont wana waste my time on a dullard

He keeps running but, can't runaway from himself.