Apple, an American company, is the largest company in the US Stock Market. AstraZeneca, a British pharmaceutical giant, is the largest firm in the UK stock market. SAP, a German conglomerate, is the largest concern in the German Stock Exchange.

So, how come MTN, a South African firm, is the largest company in the Nigerian Stock Market? They control almost 17% of our entire stock exchange. The second is Airtel, an Indian company, with nearly 15%.

That is why there is a downward pressure on the Naira. Because we gleefully patronise these foreign behemoths, who repatriate their billions of dollars in profit to their home countries, leaving the Naira stranded.

For every Naira traded in our stock exchange, at least 50 Kobo develops wings and flies to South Africa, India, Europe and America. And we say Nigeria is an independent nation?

And this will continue, and the Naira will go downhill. And you will grow poorer.

Unless you start patronising Nigerian brands, like Globacom Nigeria, the Dangote Group, Innoson Motors, Air Peace, and BUA, which are wholly Nigerian-owned and whose profits circulate here in Nigeria, adding value to the Naira!

Until a Nigerian company is the number one form on the Nigerian Stock Exchange, we will only blame the government when our own consumption habits as citizens are the chief causative factors for a weak Naira!

#TableShaker

Nlfpmod
Seun
Lalasticlala
Mynd44

But Nigerian have investment in South Africa... I think MTN want to divest sef from Nigeria some years back, so I don't understand Oga Reno's rant ....the local contractors just dey pray make they stay because that's the only guarantee they have in getting paid at the set timeline. Now a Nigerian is calling the shot, I don't know if the contractors are been paid as at when due or whether they upgrade regularly anymore... Because every now and then I have to be checking nairaland to be sure the network is going .

What makes you think that Globacom and cos profit circulate in Nigeria

jackcanfield:
But Nigerian have investment in South Africa... I think MTN want to divest sef from Nigeria some years back, so I don't understand Oga Reno's rant ....

Be reasonable for ones. Not because you hate someone, you'll take anything he says as Rubbish. What is bad to chose Nigerian made goods instead of foreign goods.
How Nigerian investments are in S.A?
Some of you just comment because you have a phone and data, you comment without e en knowing what you are talking about.
The more the demand for dollar, the lower the value of the naira.

Kingpin1000:

Be reasonable for ones. Not because you hate someone, you'll take anything he says as Rubbish. What is bad to chose Nigerian made goods instead of foreign goods.
How Nigerian investments are in S.A?
Some of you just comment because you have a phone and data, you comment without e en knowing what you are talking about.
The more the demand for dollar, the lower the value of the naira.

Did I say you shouldn't choose Nigeria product, perhaps you didn't let me land before unleashing, did I even say their products is superior, for goodness sake I enjoy using Glo more than MTN .. I only said Nigeria have investment in South Africa, if you want to chase them away, you should consider the consequences of reprocracy on Nigeria companies in South Africa. Moreover like I said they are actually planning to leave before.

Because it is Reno that wrote this piece... they will make sure the post does not grace the front page...

Shior

jackcanfield:
But Nigerian have investment in South Africa... I think MTN want to divest sef from Nigeria some years back, so I don't understand Oga Reno's rant ....the local contractors just dey pray make they stay because that's the only guarantee they have in getting paid at the set timeline. Now a Nigerian is calling the shot, I don't know if the contractors are been paid as at when due or whether they upgrade regularly anymore... Because every now and then I have to be checking nairaland to be sure the network is going .

You are right, but not just these, but also mobile phones, cars

illicit:
What makes you think that Globacom and cos profit circulate in Nigeria

Because their headquarters are based in Nigeria.