Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,227,325 members, 8,069,992 topics. Date: Tuesday, 04 February 2025 at 11:59 AM

Multinational Companies Exit Nigeria Amid High Operating Cost - Politics (7) - Nairaland

Nairaland Forum / Nairaland / General / Politics / Multinational Companies Exit Nigeria Amid High Operating Cost (33664 Views)

Peter Obi Laments Exit Of Multinational Companies From Nigeria / Electricity Tariff: More Multinational Companies May Exit Nigeria β€” MAN / Germany Returns 1,000 Benin Bronzes To Nigeria Amid Frustrstion At Britain (2) (3) (4)

(1) (2) (3) (4) (5) (6) (7) (8) (Reply) (Go Down)

Re: Multinational Companies Exit Nigeria Amid High Operating Cost by Fearyourcreator: 1:29pm On Aug 26, 2023
vannessa7:




Bitter soul, I'm sure you are a product of an igbo woman who slept with the wrong Yoruba man in warri where you live and was abandoned, that's why you hate Yoruba so much, which makes you Omo ale, a Yoruba adage says it's only a basterd that point to his father's house with left hand, so true in your case, sorry, why don't you forgive your father, it might be the only reason you are still working 20,000 naira job with 2:1.

I actually pity your sorry ass with your 20,000 naira salary and you are still cursing up and down, Nigeria is not actually your problem but your village people, get your priorities right, if you come to Lagos with your 2:1, I promise you a higher paying job but those your curses which has become your trademark might block your breakthrough because you love it and it cannot but follow you. You are even single, you have not even experienced much in life and you are like this. You better change and start sowing love.
Na small boy ...
Re: Multinational Companies Exit Nigeria Amid High Operating Cost by Fearyourcreator: 1:30pm On Aug 26, 2023
UnfairLife7:
your life, that miserable fearyourcreator, and your entire family lives will experience what Nigeria is today. Your entire miserable life shall be like what Nigeria is today. Ameen

Your life will be miserable like Nigeria if i am not igbo. But if i am igbo, the curse will be mine

Shalom
Oponu Se... If you are Yoruba oloriburuku omo Yoruba ni e Se ... Omo ale
Re: Multinational Companies Exit Nigeria Amid High Operating Cost by Fearyourcreator: 1:31pm On Aug 26, 2023
UnfairLife7:
Amen

So shall it be for that miserable fearyourcreator riff raff
For your whole family ... Iku gbona lema ku ni kekere as from now on .
Re: Multinational Companies Exit Nigeria Amid High Operating Cost by Fearyourcreator: 1:36pm On Aug 26, 2023
vannessa7:


I'm surprised at their wailing and ranting o, imagine these people who claim billionaires now feeling the heat of economic changes more than the so called brown roof poor people, isn't God mysterious. They are not ready to pay any price for success in Nigeria but will gladly slave in a foreign land to succeed, they want free everything, they want to be living lavishly on free everything, and the rich will get richer because most of those free things go to them, imagine Nigeria paying subsidy on fuel for another country to use, and in the future our coming generations will have nothing to inherit because of our wastefulness, china closed it's borders and tighten it's belt for 40years before it developed, they only consumed local goods thereby growing their local industries, now the whole world is indebted to them, I'm sure after 8years of Tinubu we will look back and smile because someone that is blocking wastages, making Nigerians to pay up, making policies that will benefit us in the long term cannot leave us worst off than before he came. It's even refreshing to see less traffic jam in Lagos, less pollution, you only go out when it's necessary, one thing I'm sure of is that the gain of all this changes will start manifesting latest in two years time. Reversing after going in the wrong direction for a long time needs sacrifices, not pampering.
Fast fix for something that got spoilt for over 50 years shows their mentality

1 Like

Re: Multinational Companies Exit Nigeria Amid High Operating Cost by Fearyourcreator: 1:40pm On Aug 26, 2023
vannessa7:


Shut up, you are Igbo, bread and buttered in Yoruba land, are you not afraid to bite the hand that is feeding you, no Yoruba person will type that trash up there, you people did more than this during Buhari era, lies and propaganda, get ready because you have 8 more years to wail. Get rich quick people, it is because you lots don't expect any good thing from Tinubu that's why you are already hungry, be it unto you according to your faith.
Simple... See that one that is selling creams with fake NAFDAC number ... They and fake products... But will point fingers to another person

1 Like

Re: Multinational Companies Exit Nigeria Amid High Operating Cost by Fearyourcreator: 1:42pm On Aug 26, 2023
lolu2019:
a lot of us didn't learn from what happened during COVID-19.self reliance is key.
Even Americans complain their own government with their heavy taxes sef... Make everyone try fix their personal life... How many government wan do sef.... But many are not really serious with their life... Good life no easy on a norms... Sacrifices must be made
Re: Multinational Companies Exit Nigeria Amid High Operating Cost by Fearyourcreator: 1:45pm On Aug 26, 2023
Eriokanmi:
I'm a realistic being dear. I don't dwell on emotions. Tell me realistically, which local industries wouid replace the multinationals who are leaving us?

When last had the federal government empowered innovative Nigerians? They don't even see them, talk less of assisting them. These are the ones who would have replaced them. But they're busy chasing how much they can steal. Our polytechnics have become a shadow of themselves. The purpose for which the institution was set up had long been defeated. Remember universities don't earn anything from the federal government on research work sponsorship anymore. Most lecturers use their own funds.

That's not all, at a time, cocoa contributed immensely to our GDP, cotton and ground nuts too. Who grows them nowadays? What had changed to the regime who came under the slogan of change? Has there been any encouragement from the FG on farming? No! The few who still do farming have been chased off by boko haram fighters, a.k.a armed bandits or militia men. They came in 2015 that they'd nip insecurity in the bud. You and I know its all lies today. 3 weeks ago, we still lost nearly 30 soldiers. With their promise, by now, we shouldn't be hearing such bad news anymore. Soldiers were killed in less than 2 month ago in Borno but it was only on aljazeera I heard about it. They've silenced the few local media who used to burst their bubbles by reporting their hidden secrets.

You may be right when you said people were importing to discourage local industries from thriving but here's afact...even the celebrated economies today also import massively to support local production. South africa , the 2nd largest economy in Africa imports much more than Nigeria does. They only had gold
as foreign exchabge earnings. We export more than crude here. Everything boils down to the fed govt policies. Our leaders are super corrupt.

See the acctant general who singly stole over 100bn under the apc regime? You can't pretend to be promoting local industries,when you don't make the enabling environment available. As a local manufacturer, I'd still need to order some materials to produce the local ones. Dangote needs some chemical to be added to those limestone he's extracting to produce cement or do people think the only component of cement we use is the limestone? He'd buy fx at 920 naira too like we do, to buy those materials. You don't expect him to sell cheaper than the imported cement. Think about it. Poultry farmers are packing up in droves cos feeds and foreign marerials used are very expensive due to the free fall of the naira. Who bears the brunt? The masses! Imported chicken is now cheaper than the ones grown locally. Too bad!

Tinubu may not be the cause of all these but he must change his policies fast. Its killing our economy. His party caused this mess since 2015 he should stop chasing shadows. I voted buhari in 2015 but later changed my mind and stopped supporting him. I thought he was the brain behind the magic of the 80s which i witnessed briefly, but I was wrong.

Except the policy is reversed, more multinationals would go. After all, no be today dem dey go Ghana. They're not father Xmas, remember.
Go ghana

1 Like

Re: Multinational Companies Exit Nigeria Amid High Operating Cost by Fearyourcreator: 1:46pm On Aug 26, 2023
lolu2019:
Nor be lie.Nigerians are generally wicked people.they will still be lamenting upon all d millions they are making.they nearly killed my guy ontop peanuts.he had to leave for health reasons.
We are just like our leaders... Let the people change first automatically the leaders will definitely change... The people are fucking bad

1 Like

Re: Multinational Companies Exit Nigeria Amid High Operating Cost by Irupetepete: 2:02pm On Aug 26, 2023
benuejosh:
They should go and room will be created for our local companies to fill in the gap. Our local and infant industries need space for growth.

The only thing the government needs to do for our local and infant industries who have prospecs of growing big is to give them tax holidays.
big companies can't cope na small businesses go come thrive? Even a day old baby is more sensible than you

1 Like

Re: Multinational Companies Exit Nigeria Amid High Operating Cost by Ezmans: 2:10pm On Aug 26, 2023
benuejosh:
They should go and room will be created for our local companies to fill in the gap. Our local and infant industries need space for growth.

The only thing the government needs to do for our local and infant industries who have prospecs of growing big is to give them tax holidays.
oga am into big business no single big manufacturing company in nigeria is run by nigerians, all plastic manufacturing companies & soft drinks are run by educated Indians & chines people. If you bring nigerians there as head they will run it down over night
Re: Multinational Companies Exit Nigeria Amid High Operating Cost by lolu2019: 2:12pm On Aug 26, 2023
Fearyourcreator:

We are just like our leaders... Let the people change first automatically the leaders will definitely change... The people are fucking bad
So true.
Re: Multinational Companies Exit Nigeria Amid High Operating Cost by lolu2019: 2:13pm On Aug 26, 2023
Fearyourcreator:

Even Americans complain their own government with their heavy taxes sef... Make everyone try fix their personal life... How many government wan do sef.... But many are not really serious with their life... Good life no easy on a norms... Sacrifices must be made
yes o.sacrifices must be made.nothing good comes easy.
Re: Multinational Companies Exit Nigeria Amid High Operating Cost by Fearyourcreator: 2:32pm On Aug 26, 2023
lolu2019:
yes o.sacrifices must be made.nothing good comes easy.
Just this last week ... Had a business deal done and dusted ... Now the person said he needed to complete his second building I said that's nice cus I was aware cus he does confide in me... Then promised to balance me middle of the week ... Am telling he has not been picking his calls... After I offered full service for him... Now that kind person will say government is crazy ... Another person told me such similar story this yesterday ... Very similar I was just shaking my head... Now see how unfaithful people are within themselves... Just see .. even my community now transformer issues arised ... See ehn ... I stopped blaming the government longtime ago ooo ... People around us sef madt ... Asin crazy ...
Re: Multinational Companies Exit Nigeria Amid High Operating Cost by Nobody: 2:34pm On Aug 26, 2023
vannessa7:


I'm surprised at their wailing and ranting o, imagine these people who claim billionaires now feeling the heat of economic changes more than the so called brown roof poor people, isn't God mysterious. They are not ready to pay any price for success in Nigeria but will gladly slave in a foreign land to succeed, they want free everything, they want to be living lavishly on free everything, and the rich will get richer because most of those free things go to them, imagine Nigeria paying subsidy on fuel for another country to use, and in the future our coming generations will have nothing to inherit because of our wastefulness, china closed it's borders and tighten it's belt for 40years before it developed, they only consumed local goods thereby growing their local industries, now the whole world is indebted to them, I'm sure after 8years of Tinubu we will look back and smile because someone that is blocking wastages, making Nigerians to pay up, making policies that will benefit us in the long term cannot leave us worst off than before he came. It's even refreshing to see less traffic jam in Lagos, less pollution, you only go out when it's necessary, one thing I'm sure of is that the gain of all this changes will start manifesting latest in two years time. Reversing after going in the wrong direction for a long time needs sacrifices, not pampering.
Ronu oooo!

Re: Multinational Companies Exit Nigeria Amid High Operating Cost by lolu2019: 2:39pm On Aug 26, 2023
Fearyourcreator:

Just this last week ... Had a business deal done and dusted ... Now the person said he needed to complete his second building I said that's nice cus I was aware cus he does confide in me... Then promised to balance me middle of the week ... Am telling he has not been picking his calls... After I offered full service for him... Now that kind person will say government is crazy ... Another person told me such similar story this yesterday ... Very similar I was just shaking my head... Now see how unfaithful people are within themselves... Just see .. even my community now transformer issues arised ... See ehn ... I stopped blaming the government longtime ago ooo ... People around us sef madt ... Asin crazy ...
don't worry urself.Karma will teach them a lesson.
Re: Multinational Companies Exit Nigeria Amid High Operating Cost by lolu2019: 2:42pm On Aug 26, 2023
FOJEM:

Ronu oooo!
if u are emotional attached to the fact that u can't reason for urself.u allowed Late Chinua Achebe to reason for u.ur education and exposure are both useless.
Re: Multinational Companies Exit Nigeria Amid High Operating Cost by Charly68: 3:08pm On Aug 26, 2023
Let them find a better place ,life is a choice . Nobody can blackmail the Govt for planning for the future
Re: Multinational Companies Exit Nigeria Amid High Operating Cost by Saintinoo(m): 3:14pm On Aug 26, 2023
benuejosh:
They should go and room will be created for our local companies to fill in the gap. Our local and infant industries need space for growth.

The only thing the government needs to do for our local and infant industries who have prospecs of growing big is to give them tax holidays.

This one is still reading SS1 economic textbook. Tomorrow your type will be made the minister of Finance or CBN governor.
Re: Multinational Companies Exit Nigeria Amid High Operating Cost by OyinO: 3:22pm On Aug 26, 2023
Good development. Nigeria already warming up for the next Niger Republic. It's getting set
Re: Multinational Companies Exit Nigeria Amid High Operating Cost by wildernessVoice: 3:37pm On Aug 26, 2023
PUSSYHOE:
When things become too unbearable the poor will eat the rich.

And their meat go sweet 😁
Re: Multinational Companies Exit Nigeria Amid High Operating Cost by wildernessVoice: 3:38pm On Aug 26, 2023
PUSSYHOE:
When things become too unbearable the poor will eat the rich.

And their meat go sweet 😁
Re: Multinational Companies Exit Nigeria Amid High Operating Cost by chaloskyx: 3:41pm On Aug 26, 2023
let them go tinubu would replace them with agbado and cassava industries
Re: Multinational Companies Exit Nigeria Amid High Operating Cost by Fearyourcreator: 4:02pm On Aug 26, 2023
lolu2019:
don't worry urself.Karma will teach them a lesson.
Worry ke... Na that government finger dey always vex like they are better that annoys me
Re: Multinational Companies Exit Nigeria Amid High Operating Cost by lolu2019: 4:09pm On Aug 26, 2023
Fearyourcreator:

Worry ke... Na that government finger dey always vex like they are better that annoys me
money wey person nor go carry reach even.
Re: Multinational Companies Exit Nigeria Amid High Operating Cost by IyaTola: 4:36pm On Aug 26, 2023
mmadu5:
LEAVE THAT COUNTRY WHILE YOU CAN ..... I'm currently in Tanzania and i can tell you for the past 4 months TANESCO never take light over here we call it TANESCO . you can move around even by 12 AM in the morning . good roads and security from here you can travel to other countries easily .. even though I'm not in abroad I'm Glad and happy to be safe with enough free air Nigeria is congested anyways. i will be relocating my family soon... leave the GOD forsaken country even Togo is better than Nigeria currently
How do you get to Tanzania and where in Tanzania are you staying?
Re: Multinational Companies Exit Nigeria Amid High Operating Cost by grandstar(m): 4:42pm On Aug 26, 2023
vannessa7:


It will still come down, local industries will fill in the gap with whatever they are making, it's not forever, Nigeria has been destroyed for too long by romancing only foreign stuffs, they repatrait our money to their country, if there is no Panadol, people will buy alabunkun or paracetamol or karaole, Bata industry closed down because of foreign shoes, many people lost their jobs, even those foreign companies that came to establish here are taking their profits to their home office abroad and it's Nigerian money, we don't spend dollars in Nigeria, if we buy our local goods more our industries will grow and things will become cheaper, this is macro economics not even micro, Tinubu knows what he is doing, igbos be patient! You people started the destruction of our economy with massive importation causing unemployment because the Nigerian guy producing shoe and bags is chased out of business because people are buying imported shoes, it's okay to have influx of foreign companies for employment but if they leave, we will have entrepreneurs, because demand will make local industries to spring up. Think

Why do people believe this myth that imports destroyed the Nigerian economy? You even went on to add Igbos destroyed the economy massive through importation.

Imports are not bad for the economy. They are instead very good. They create wealth and jobs. Tokunbo cars probably provides jobs and livehood for over a million nigerians.

Where Nigeria fails is that we do not export. This is where the country gets a zero.

It is rare not to find a Korean or Japanese or Taiwanese product in your house or compound. These countries had an export or perish mentality. The former Central European countries like Poland and Hungary are also focused on international trade.

Also saying foreign companies carry all their profit home is no different from Europeans says "these immigrants send all the money they make back home." Tell any Naija working in London this and he will laugh in your face.

For these foreign companies to make N10m profit, lets assume it came from a turnover of 100m. Will they carry the turnover home too?

2 Likes

Re: Multinational Companies Exit Nigeria Amid High Operating Cost by Etimemy: 4:42pm On Aug 26, 2023
Jack500:


Keep fooling yourself

After your capital failure
Re: Multinational Companies Exit Nigeria Amid High Operating Cost by Hubeznigeria(m): 4:46pm On Aug 26, 2023
benuejosh:
They should go and room will be created for our local companies to fill in the gap. Our local and infant industries need space for growth.

The only thing the government needs to do for our local and infant industries who have prospecs of growing big is to give them tax holidays.
He who does not know but does not know that he does not know is what again?
Re: Multinational Companies Exit Nigeria Amid High Operating Cost by finallybusy: 4:49pm On Aug 26, 2023
lomprico:


Jobs will be lost
…and new ones will be created.
Re: Multinational Companies Exit Nigeria Amid High Operating Cost by grandstar(m): 4:58pm On Aug 26, 2023
Farki:
Some online miscreants who did not finish secondary school will come to say multinationals who have operated for decades don't understand Nigeria's business environment. grin

Misguided elements like the person above me think local businesses will fill the gap as if the local business will gain raw materials, machines, fuel and rich customers from thin air to produce and sell to.

Everyone who helped keep this APC disaster in Aso Rock will not die well.

Obi said he was going to remove fuel subsidy and unify exchange rates. What would he have done differently?

Also, the serious mess on ground isn't Tinubu but Buhari's. No one can perform the miracles you expect overnight.

1 Like

Re: Multinational Companies Exit Nigeria Amid High Operating Cost by grandstar(m): 5:04pm On Aug 26, 2023
Bizibi:
I thought this government will focus on relaxing taxes on companies. Fdi is low and we even need more companies in Nigeria right now. When it comes to economy I will give it to obj....

The government is new, barely 100days.

Frankly speaking, I pray the government reduces company tax to 15% or even less, perhaps, even 10%.This will encourage a massive flood of foreign portfolio invest and later, FDI. It helped turn Ireland around. Central European countries are using it to spur investment and growth.

1 Like

(1) (2) (3) (4) (5) (6) (7) (8) (Reply)

2 Governors On Security Watch-list / Soldiers Intercept β‚¦β€Ž2 Million Cash Being Transported To Gombe Politician / Keyamo Blasts Politicians Against Buhari's Appointments Pattern

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2025 Oluwaseun Osewa. All rights reserved. See How To Advertise. 84
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.