Politics / Re: Ounje Eko: Large Crowd As Lagos Discounted Food Markets Begin Sales (Photos) by plucky16(m): 3:46pm On Mar 17 |
Suffering and smiling 3 Likes 1 Share |
Nairaland / General / Alternative Solutions To The MTN, Airtel & Etisalat Internet Issues In Nigeria by plucky16(m): 4:34pm On Mar 15 |
The recent internet service disruptions across Nigeria due to damage to several undersea cables have severely impacted businesses and individuals who rely on MTN, Airtel, and Etisalat for internet connectivity. While the cable operators work to repair the cables, Nigerian businesses need to explore alternative connectivity solutions to maintain business continuity. For business owners and individuals relying heavily on internet services from MTN, Airtel, and Etisalat, the outages have been extremely disruptive and costly. Here is a proposed solution focused on business owners who work online: Use multiple ISPs to reduce reliance on one provider1. Glo: Glo provides high-speed 4G/5G mobile data coverage across Nigeria. With over 128 million subscribers, Glo has extensive network infrastructure to provide consistent connectivity. 2. Spectranet: Spectranet is a leading Internet Service Provider in Nigeria focused on fiber broadband. Their speeds range from 10Mbps to 1Gbps based on needs. Spectranet ranked high in network consistency and low latency. 3. Starlink: Starlink offers high-speed, low-latency satellite internet across Nigeria starting at 110 USD/month. Satellite connectivity provides an extra layer of redundancy if submarine cables are damaged. Starlink has over 5,200 satellites giving extensive coverage. Leverage cloud infrastructureFor business services and applications, leverage cloud infrastructure providers like AWS, Azure, or GCP which have data centers in Nigeria. This way, services are hosted locally rather than relying on international connectivity for offshore servers. While repairing damaged undersea cables takes time, implementing a redundant connectivity solution is crucial for Nigerian businesses to maintain productivity and continuity. Glo, Spectranet and Starlink together provide terrestrial, mobile and satellite connectivity for maximum redundancy. Each covers for weaknesses in the others. Credit: https://wendiloveee.com/alternative-solutions-to-the-mtn-airtel-etisalat-internet-issues-in-nigeria/ 1 Like 1 Share |
Politics / Re: Inflation Rises From 29.90 To 31.70 Percent In February by plucky16(m): 2:04pm On Mar 15 |
Hope say e no go reach 100 soon |
Business / How To Sustain Your Business In The Face Of Naira To Dollar Rise In Nigeria by plucky16(m): 1:57pm On Feb 23 |
The recent rise in the dollar-to-naira exchange rate presents a significant challenge for Nigerian businesses. This depreciation of the naira impacts everything from import costs to foreign investment, squeezing profit margins and demanding strategic adaptation. However, amidst these difficulties, with proper planning, companies can develop strategies to sustain operations despite currency fluctuations.
Understanding the Impact
The rise in the naira-to-dollar rate affects businesses in multiple ways. Import-dependent companies face increased costs, while exporters may benefit from more competitive pricing in international markets. However, the overarching effect is uncertainty, which can stifle investment and growth.
Strategic Adaptation
To sustain and grow in such an environment, businesses must adopt a multi-faceted approach:
Diversification of Currency Risk
Companies should consider invoicing in multiple currencies to mitigate the risk of exchange rate fluctuations. This strategy can protect against sudden drops in the Naira’s value.
Renegotiate Contracts
Existing import contracts denominated in dollars will become more expensive. Proactively renegotiate with suppliers to adjust pricing to account for FX swings. Phase in incremental naira price increases. Absorbing the full increase at once may not be sustainable.
Seek Local Alternatives
Substitute imported inputs, raw materials or finished products with locally available alternatives wherever possible, even if inferior in quality. This limits foreign exchange needs. Partner with domestic manufacturers to replicate import items.
Increase Prices Strategically
Avoid pricing products based on simple currency conversions. Gradually increase naira prices in sync with local demand and competitors’ moves. Boost marketing to highlight product value exceeding price hikes. Offer discounts and financing options to ease customer transition.
Lobby for Tax Relief
Petition industry groups to lobby the government for tax subsidies, incentives and holidays to aid local businesses facing imported inflation. This relief can offset the burden of higher FX costs and support domestic job retention.
Negotiate Discounts
Approach vendors and suppliers across the value chain to negotiate any discounts or price reductions available. Bulk purchasing, guaranteed loyalty and prompt payment may spur discounts to cushion the naira impact over time.
Automate Operations
Leverage automation technology to cut labor costs through streamlined processes. Digital solutions can optimize production and inventory management to free up working capital amidst tight margins. Prioritize automation investments.
Cut Discretionary Spending
Eliminate unnecessary operating expenses that divert cash flow needed for sustaining essential functions. Halt non-critical projects and capital expenditures. Suspend bonuses and pay raises. Freeze hiring. Review energy, travel, entertainment and office supply costs.
Offer Value-Added Services
Generating additional revenue streams beyond existing products can help offset rising FX costs. Offer customers special services like expedited delivery, extended warranties, tech support and loyalty programs at a premium cost.
Long-Term Vision
Beyond immediate strategies, businesses must also consider long-term measures:
Market Expansion: Exploring new markets can reduce the impact of currency fluctuations on any single market. This expansion can include both geographical diversification and the introduction of new products or services. Innovation: Investing in research and development can lead to the creation of unique products that can command higher prices and are less susceptible to market changes. Building Brand Loyalty: Establishing a strong brand can make customers more willing to accept price adjustments and remain loyal during tough economic times. Sustainable Practices: Adopting sustainable business practices can lead to cost savings and open up new market opportunities, particularly as global consumers become more environmentally conscious. Bottomline
While challenging, a weakening naira does not have to cripple Nigerian enterprises. Proactive steps to adjust finances, supply chains and operations can position local businesses to adapt and ride out currency volatility over time. https://wendiloveee.com/how-to-sustain-your-business-in-the-face-of-naira-to-dollar-rise-in-nigeria/
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Politics / Re: Tinubu Reacts To Emir Of Kuwait’s Death by plucky16(m): 10:39am On Dec 17, 2023 |
When will he react to the sufferings of the average Nigerian? 24 Likes |
Technology Market / Re: The Xiaomi Thread Store by plucky16(m): 12:00pm On Nov 12, 2023 |
Anyone with Lenovo K5 pro screen? |
Politics / Re: Osun Commissioner, Bunmi Jenyo Donates Salary To 20 Aides by plucky16(m): 7:09am On Aug 20, 2023 |
So what will happen to the benefits and other juicy stuffs he gets as commissioner? If he's truly serving the people. 1 Like |
Politics / Re: Subsidy Removal Will Reduce Carbon Dioxide Emissions - Shettima by plucky16(m): 8:31am On Aug 09, 2023 |
Such an idiotic thing to say.
These guys will say anything to justify their shit. |
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TV/Movies / Re: The Gangs Of Lagos: Indigenes Petition NFVCB Over Defamation Of Isale Eko, Eyo by plucky16(m): 6:35am On Apr 13, 2023 |
That movie is full of lies. It told a false narrative about a group of people's cultural heritage. Anyone in his or her senses would know. I already expected the indigenes to sue them in some way.
The producers could have use fictional name for the city as they did for the characters in the movie.
Stupid woke generation. 2 Likes |
Technology Market / Re: The Xiaomi Thread Store by plucky16(m): 6:24pm On Mar 23, 2023 |
Sold tonyson010:
still available? any issue with it ? |
Technology Market / Re: The Xiaomi Thread Store by plucky16(m): 5:23pm On Mar 22, 2023 |
Sold plucky16: Redmi Note 9 for sale 3+1/64gig Price 65k Lagos Call or Whatsapp: o81three86oo35o |
Technology Market / Re: The Xiaomi Thread Store by plucky16(m): 2:48pm On Mar 21, 2023 |
Available plucky16: Redmi Note 9 for sale 3+1/64gig Price 65k Lagos Call or Whatsapp: o81three86oo35o |
Technology Market / Re: The Xiaomi Thread Store by plucky16(m): 12:42pm On Mar 21, 2023 |
Redmi Note 9 for sale 3+1/64gig Price 65k Lagos Call or Whatsapp: o81three86oo35o
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Technology Market / Re: The Xiaomi Thread Store by plucky16(m): 12:17pm On Mar 21, 2023 |
. |
Technology Market / Re: Sold !!! by plucky16(m): 10:04pm On Feb 13, 2023 |
70k? |
Family / Re: House Clearance Sales.. Come In Here!!!! by plucky16(m): 7:51am On Feb 10, 2023 |
destiny10: Neatly used Scanfrost washing machine - 75k 6kg cooking gas with burner - 12k Strong Firman generator 3KVA - 65k Location - Ajah 08one600163nine7 How many kg for the washing machine? |
Technology Market / Re: Quick Sale: Used 64GB iPhone X by plucky16(m): 11:20am On Jan 07, 2023 |
. |
Technology Market / Re: Quick Sale: Used 64GB iPhone X by plucky16(m): 8:35pm On Jan 06, 2023 |
alingo2013:
Am waiting for your reply Come to my WhatsApp |
Technology Market / Re: Quick Sale: Used 64GB iPhone X by plucky16(m): 6:24am On Jan 06, 2023 |
. |
Technology Market / Quick Sale: Used 64GB iPhone X by plucky16(m): 6:25pm On Jan 05, 2023 |
Are you looking for a used 64GB iPhone X? This item's battery has a 74% health rating and is in excellent condition.
Price is 100k (firm)
If you're interested, get in touch with me at zero813860o35zero (WhatsApp). Please only serious buyers; I'm in Ojodu Berger, Lagos.
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Technology Market / Re: Neat Samsung Galaxy A03 by plucky16(m): 6:19pm On Dec 23, 2022 |
50k? |
Technology Market / Re: Samsung Galaxy A32 5G, SOLD by plucky16(m): 5:31pm On Dec 23, 2022 |
80k |
Technology Market / Re: Samsung Galaxy S9 4gb 64gb(1pc remaining) 60k by plucky16(m): 11:20pm On Dec 09, 2022 |
50k? |
Technology Market / Re: The Xiaomi Thread Store by plucky16(m): 8:23pm On Dec 09, 2022 |
ENDTIMEISNEAR: I have Clean Redmi 10c 4gb +1 gb RAM 64gb internal storage going for 65k not up to 3 months no issues with follow come charger and carton. My location is Asaba but I can waybill it to other states . Quote me if interested Drop your digits |
Technology Market / Re: The Xiaomi Thread Store by plucky16(m): 9:10pm On Dec 04, 2022 |
[/sup][sup][sup][/sup][url][/url]U Xinoman: Redmi 9t available for sale 30k deadboot issue 15k |
Technology Market / Re: Household Items For Sale. by plucky16(m): 7:09am On Nov 29, 2022 |
Is the keyboard for sale? |
Family / Re: House Clearance Sales.. Come In Here!!!! by plucky16(m): 9:01am On Nov 07, 2022 |
Goalty01: I have used Samsung s8 for sale.. Going for 35k
Cracked back
And screen brightness has to be 100%
Apart from the stated above. The phone is ok 25k? Drop your contact |
Technology Market / Re: Samsung S9plus..60k 6gb 64gb by plucky16(m): 6:32pm On Oct 25, 2022 |
40k? |
Technology Market / Re: The Xiaomi Thread Store by plucky16(m): 10:10pm On Jun 06, 2022 |
toniotonero: Redmi note 5 pro 3+32GB slight crack on d screen, working perfect Location portharcourt Call/whatsapp zero7zero388287twenty9 Price 30k 22? |
Technology Market / Re: Sold !!!! by plucky16(m): 11:11pm On Apr 27, 2022 |
13k 1 Like |
Business / Re: ..............goods To Be Sold ................. by plucky16(m): 9:53pm On Apr 22, 2022 |
dru23: Coolant.........Your Toyota ATF ....
A/C gas .............6k
How much for the coolant |