Stats: 3,190,442 members, 7,940,657 topics. Date: Thursday, 05 September 2024 at 10:22 AM |
Nairaland Forum / Nairaland / General / Business / Manufacturers May Sack Workers As Naira Loses 39% Value (7387 Views)
Naira Loses ₦79 To Dollar / Adamawa BDC Operators Reject Dollars As Naira Rebounds At Parallel Market / Naira Loses To Dollar, Closes At 419 In "Official Market" (2) (3) (4)
Re: Manufacturers May Sack Workers As Naira Loses 39% Value by Cutehector(m): 7:45am On Jan 08 |
The same people clamouring for local manufacturing will not for a second patronize locally produced goods. 1 Like |
Re: Manufacturers May Sack Workers As Naira Loses 39% Value by MrPOTUS: 7:45am On Jan 08 |
SmartyPants: There's no way a country can survive without importing. Again, no country is independent. Importation can be strictly monitored, but no eliminated. Even local manufacturing firms use chemicals that need to be imported. Use your brain. 4 Likes |
Re: Manufacturers May Sack Workers As Naira Loses 39% Value by SmartyPants(m): 8:00am On Jan 08 |
MrPOTUS: Yeah, I suspected my usage of the word "hypothetical" would fly over the heads of the numerous dunces that litter this site so I'll take the blame for that one. My bad. I was illustrating, using a simplified scenario, how restricting imports strengthens the naira and thereby saves jobs not advocating for a total ban on imports. Got it? |
Re: Manufacturers May Sack Workers As Naira Loses 39% Value by SmartyPants(m): 8:02am On Jan 08 |
TajuDEENaMao: No Taj, it's obvious education holds no promise for you. Are you in school? Drop out now and use the money elsewhere. |
Re: Manufacturers May Sack Workers As Naira Loses 39% Value by obinna58(m): 8:03am On Jan 08 |
MrPOTUS:What about a situation of importing what can easily be produced in Nigeria, instead of government helping the poor youths and bringing value to naira they preferred unnecessary importations We have strong workforce in Nigeria considering the population but govt ignored the youths and chose printing money and importation as survival means, now onyibo don tire to Dey see our useless naira cos they have it plenty 1 Like |
Re: Manufacturers May Sack Workers As Naira Loses 39% Value by Akwamkpuruamu: 8:08am On Jan 08 |
SmartyPants: Is there any signs in this country to show that we are on a stealthy path to industrialization? Zero power, high tax, high inflation, high unemployment, insecurity etc. How do you industrialise under these conditions? |
Re: Manufacturers May Sack Workers As Naira Loses 39% Value by Bigchristo: 8:08am On Jan 08 |
TajuDEENaMao:The shege just Dey start, even in the face of all these problems and challenges some fools will still want to defend their political oppressors calling themselves government, thunder mixed with Amadioha fire all of una wey dey support bad government 4 Likes 1 Share |
Re: Manufacturers May Sack Workers As Naira Loses 39% Value by SmartyPants(m): 8:10am On Jan 08 |
Akwamkpuruamu: No doubt Nigeria is on a very difficult path at the moment but industrialization remains the only solution. That suggests that a serious government should settle down and address these issues one after the other starting with insecurity. |
Re: Manufacturers May Sack Workers As Naira Loses 39% Value by MrPOTUS: 8:10am On Jan 08 |
obinna58: Naso we see am o bro. D politicians are not intentional about fixing this country. |
Re: Manufacturers May Sack Workers As Naira Loses 39% Value by JDJDjD: 8:11am On Jan 08 |
justtoodark:So people running to Abuja now is because of What and who? |
Re: Manufacturers May Sack Workers As Naira Loses 39% Value by Blazebond(m): 8:11am On Jan 08 |
Until we follow the china way,we will continue to deteriorate as a nation, until we learn to send the imf and world bank packing from our lives,we will never grow,until we decide to sit down and decide how to run our economy in the best economical way that will be beneficial to ourselves,we are destined for doom. We Nigerians and African nation and most developing nations have foolishly and cowardly refused to do away with the adoption of a racist currency (dollar) as their king currency,they have continued to tie themselves down with slave loans and they seriously think that they would ever be able to break free from it. |
Re: Manufacturers May Sack Workers As Naira Loses 39% Value by Akwamkpuruamu: 8:12am On Jan 08 |
SmartyPants: Do we have a serious government now? One that is saddled with brazen corruption. One that wants the citizens to sacre but they are feeding fat. Does it worth it? 2 Likes |
Re: Manufacturers May Sack Workers As Naira Loses 39% Value by Savanahustle: 8:13am On Jan 08 |
Someone who openly said “na statistics we go chop?” And mofos who claim to be educated went ahead to vote him in as the leader, i pity for this country smh 2 Likes |
Re: Manufacturers May Sack Workers As Naira Loses 39% Value by Odogwuzack: 8:15am On Jan 08 |
cassette: Tinubu is a far better presidential candidate compared to Obi, if you like kill yourself because of my unbiased opinion. 1 Like |
Re: Manufacturers May Sack Workers As Naira Loses 39% Value by Nazgul: 8:20am On Jan 08 |
opamoses1:Have you ever visited a factory before that you're suggesting that the government should get rid of importers? Take for instance a plastic producing factory. They would need chemicals and raw materials which would be mixed and put into the machine. Those chemicals are not locally produced. so even though the company is producing plastics here in Nigeria, they're still importing the chemicals they would need for production to continue. Also we have the issue of Diesel which is over a thousand naira per liter. And if you must know, these factories run 24hours. They have morning and night shift staffs. So with our epileptic power supply, and dwindling Naira, how do you propose they sustain production by running their Diesel powered plants continuously for a 30day calendar month without accumulating losses? Even the USA that hosts the world's largest industries still import certain raw materials for their industries. The truth is running a manufacturing business in Nigeria is almost becoming a non-profitable venture. 6 Likes |
Re: Manufacturers May Sack Workers As Naira Loses 39% Value by cassette(m): 8:24am On Jan 08 |
Odogwuzack: lol enjoy the hardship you have brought upon yourself and your household , of course no need to ask you to kill yourself, I know by the time Tinubu finishes with you, you won’t even survive it, I’d bookmark your comment and keep reminding you ! 2 Likes |
Re: Manufacturers May Sack Workers As Naira Loses 39% Value by ArcSEMPECJ(m): 8:43am On Jan 08 |
justtoodark: Very funny....when he left as Lagos State Governor, what was the percentage of those that moved there ![]() Remember.... people migrating to Lagos State is not because the government is working but because the State has so many catchment pit to strive in Businesses and it is the duty of those migrating there to find the means and targeted places ....never the Government ... |
Re: Manufacturers May Sack Workers As Naira Loses 39% Value by Godszilla: 9:10am On Jan 08 |
Dude OK let's assume that Tinubu was the best among the 3 candidates(ceo). But reality here is staring you in the face that's your firm its crashing,all the indexes n data are pointing to a collapse will you still stick to the "best candidate". In football we see where managers are sack under a month,the manager was their best candidate. When you analyse situations u strip of emotions n sentiment u deal with the data because data don't lie humans can only manipulate them Odogwuzack: 2 Likes |
Re: Manufacturers May Sack Workers As Naira Loses 39% Value by Minsk24: 9:11am On Jan 08 |
SmartyPants:U cannot do away with importation, supply chains and raw materials is crucial... and with the poor exchange rate, can ur products compete? |
Re: Manufacturers May Sack Workers As Naira Loses 39% Value by Minsk24: 9:12am On Jan 08 |
Nazgul:Well said.... Manufacturing in Nigeria will face difficult times ahead.... 1 Like |
Re: Manufacturers May Sack Workers As Naira Loses 39% Value by Minsk24: 9:15am On Jan 08 |
Blazebond:Oga shut ur mouth if u don't know what to say....what has imf, world bank and dollar got to do with this topic, China is one of the largest holders of USD, what are u talking about, if u ditch imf and world bank, what alternatives are there? The NDB by brics is still at infancy, chinese loans have helped but how far will it go...we need multiple options and u are talking about ditching imf, shut ur mouth |
Re: Manufacturers May Sack Workers As Naira Loses 39% Value by SmartyPants(m): 9:16am On Jan 08 |
Minsk24: There's a reason the word hypothetical is in italics sir. It's a simplified example to make a point about the relationship between importation, currency strength, and employment. 1 Like |
Re: Manufacturers May Sack Workers As Naira Loses 39% Value by Brushstrokes20: 9:33am On Jan 08 |
Never imagined any mortal could be worse than buhari ![]() # the shyyythole from fry pan to FIRE 🔥🔥🚩🚩💯 1 Like |
Re: Manufacturers May Sack Workers As Naira Loses 39% Value by Advision: 9:53am On Jan 08 |
CodeTemplar: Also, the consequence of Nigerian companies having to import capital & loans. They should be generating capital from the country. Very silly entrepreneurs. Also government should clamour less for FDI, so we have to bother less about having a stable exchange rate. 1 Like |
Re: Manufacturers May Sack Workers As Naira Loses 39% Value by Odogwuzack: 10:01am On Jan 08 |
cassette: Tinubu is far better than Obi. If another election is held today, Tinubu will still win. |
Re: Manufacturers May Sack Workers As Naira Loses 39% Value by Odogwuzack: 10:09am On Jan 08 |
koondog: Seun Mynd44 Fergie001 Mukina2 Dominique and other pro Igbo mods on NL... This comment has been on this page for hours... Hope you won't ban anybody that gives reasonable reply to this? |
Re: Manufacturers May Sack Workers As Naira Loses 39% Value by iykepromotions: 10:28am On Jan 08 |
Been self employed is the way to go. Though it's not for everyone. Imagine getting sacked. |
Re: Manufacturers May Sack Workers As Naira Loses 39% Value by Ozap: 6:12pm On Jan 08 |
Iamanoited: How has the sovereignty put food on your table?? Unless you're part of the political family |
Re: Manufacturers May Sack Workers As Naira Loses 39% Value by Ozap: 6:13pm On Jan 08 |
Teymanhenry: . |
Re: Manufacturers May Sack Workers As Naira Loses 39% Value by cassette(m): 9:58pm On Jan 08 |
Odogwuzack: I agree, but you are suffering more than you did last year, and if Tinubu still wins you would still suffer some more !! At least you are enjoying the consequences of your dumb decisions!! |
1million Naira Business For My Wife / The Most Trending Form Of Nig Printing Machine DI !!! / How To Fund Binary.com Account Please Help
(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 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 55 |