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Economic Crisis: Job Losses As 16 Multinationals Exit Nigeria In 3 Years - Politics (3) - Nairaland

Nairaland Forum / Nairaland / General / Politics / Economic Crisis: Job Losses As 16 Multinationals Exit Nigeria In 3 Years (17400 Views)

Minimum Wage: Accept Offer That Won’t Lead To Job Losses, FG Tells Labour / 15 Multinationals Exit Nigeria In Three Years – NECA / Don’t Leave Nigeria, Tinubu Urges Multinationals (2) (3) (4)

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Re: Economic Crisis: Job Losses As 16 Multinationals Exit Nigeria In 3 Years by EdiskyHarry: 7:59am On Jul 07
Tinubu government blame buhari
Buhari government blamed Jonathan
Edris abukareem
Re: Economic Crisis: Job Losses As 16 Multinationals Exit Nigeria In 3 Years by VTJN(m): 8:00am On Jul 07
OluwafemiYemi:
Tinubu is doing well. Ipob rest.
Are you serious?
Re: Economic Crisis: Job Losses As 16 Multinationals Exit Nigeria In 3 Years by Makamatic: 8:03am On Jul 07
Yashita:


What is "Batidiot"? You sound maniac, honestly.

First of all, I'm not political, I really don't care the party on a regime, as long as the leader is moving the country forward. It's about individual zeal, skill & reasoning.

Secondly, wait. So if you don't see dollar investors, you won't find a way to pull your country up no matter what? You're waiting for an external body to come and perform wonders in your country before you help yourselves?

Oya, continue to wait na. Lazy, fish brain. Mcthwww.
Batidiot , how can the youths move forward when there's corruption in the country . No work for the youth . It's the duty of the government to create jobs or make the country good to employers of labor . Idiot

1 Like

Re: Economic Crisis: Job Losses As 16 Multinationals Exit Nigeria In 3 Years by ceejayluv(m): 8:08am On Jul 07
Yashita:


And the truth be told. Most of them, their products are overpriced. They've made a hell of money from Nigerians and our government accepted it.

Look at the prices/costs of data from MTN/Airtel/etc. in telecommunications. Do you know that Nigerians pay the highest for data, even more than most developing countries?
The cost and ease of doing business in Nigeria is something else, you've to admit. In those countries, does each telecom mast have a Diesel plant? Do manufacturers generate their own power?
Re: Economic Crisis: Job Losses As 16 Multinationals Exit Nigeria In 3 Years by Tradman: 8:20am On Jul 07
OluwafemiYemi:
Tinubu is doing well. Ipob rest.
u get luck say I no see u one on one,the hot slap go at least 4 of ur rotten teeth
Re: Economic Crisis: Job Losses As 16 Multinationals Exit Nigeria In 3 Years by Shikini: 8:21am On Jul 07
Terrible
.
Re: Economic Crisis: Job Losses As 16 Multinationals Exit Nigeria In 3 Years by Yashita: 8:22am On Jul 07
Makamatic:

Batidiot , how can the youths move forward when there's corruption in the country . No work for the youth . It's the duty of the government to create or make the country good to employers of labor . Idiot

OK, since you can't have a conversation without calling your mother names, I'd ignore you because silence is the best reply to people like you (fool).

Lazy fish brain, continue to wait for your government to come and spoon feed you.

2 Likes

Re: Economic Crisis: Job Losses As 16 Multinationals Exit Nigeria In 3 Years by PortHarcourtcit(m): 8:29am On Jul 07
Unperturbedpota this is fake news from the GBAJUE'S...
Re: Economic Crisis: Job Losses As 16 Multinationals Exit Nigeria In 3 Years by snowball11(m): 8:32am On Jul 07
And some buffoons said this idiot built Lagos! undecided

What a disaster of a man! grin
Re: Economic Crisis: Job Losses As 16 Multinationals Exit Nigeria In 3 Years by anonimi: 8:40am On Jul 07
Timmi:
Wow anonimi, I thought you still have an iota of sense. Surprised to know by your vituperation that sense is no longer common in your root.

If you had any iota of sense, wouldn’t you ask why grouchy old man Baba Iyabo failed to get Ribadu’s EFCC prosecute Atiku’s alleged corruption?

Show us how much sense you have.

1 Like

Re: Economic Crisis: Job Losses As 16 Multinationals Exit Nigeria In 3 Years by DeepSight(m): 8:52am On Jul 07
OluwafemiYemi:
Tinubu is doing well. Ipob rest.

Are you cursed to suffer or what is your problem?
Re: Economic Crisis: Job Losses As 16 Multinationals Exit Nigeria In 3 Years by caye(m): 8:58am On Jul 07
forgiveness:
It shows these companies are leeches. They are container economy based companies.

They did nothing to improve production in Nigeria by investing in production of local materials. All they did was importing and exporting.

What are your reasons for saying i.e. Diageo ( Guinness), runs a container based economic system?
Re: Economic Crisis: Job Losses As 16 Multinationals Exit Nigeria In 3 Years by cardoctor(m): 9:02am On Jul 07
National grid shuts down again for the fourth time this year. Even common vulcanizer is struggling to survive.
Re: Economic Crisis: Job Losses As 16 Multinationals Exit Nigeria In 3 Years by Blazebond(m): 9:08am On Jul 07
Why are we lamenting that selfish foreign companies that have been destroying the country for decades now are leaving? Their leaving have have created a vacuum so any serious government will know how to fill that vacuum with new investors either locally ( which I prefer) or foreign but with strict conditions for those foreign companies that will make sure that Nigeria and her citizens benefit from the move.
Re: Economic Crisis: Job Losses As 16 Multinationals Exit Nigeria In 3 Years by Fiscus105(m): 9:11am On Jul 07
7arrows:


Die hard supporters ooo. Even till death. Tribalism has eaten so deep into their head that they can't reason properly anymore. They rather vote a clueless tribes man than a tested and trusted person from another tribe. Who put us inside this mess


Wen other tribes start saying how its about their tribemen going for election, it would surely go round in all tribes.


You cant be relunctant to say other side about ur tribeman and be expecting me to demonise my tribeman. Not even wen ur tribeman had been tested with a particular public office, but instead to say pros and cons of ur tribe man, you are projecting him as SAINT, while saying my tribe man is demon.

ONLY A FOOL FOLLOW THAT TRAJECTORY WITH YOU.
Re: Economic Crisis: Job Losses As 16 Multinationals Exit Nigeria In 3 Years by chiefolododo(m): 9:17am On Jul 07
The great Tinubulation!!
Re: Economic Crisis: Job Losses As 16 Multinationals Exit Nigeria In 3 Years by thinkmoney(m): 9:17am On Jul 07
OluwafemiYemi:
Tinubu is doing well. Ipob rest.
Father God today being 7, 7- first Sunday of the month, make me and my family avoid such a disastrous and disaster loving girl as a wife, business acquaintance or friend in Jesus mighty name. AMEN
Re: Economic Crisis: Job Losses As 16 Multinationals Exit Nigeria In 3 Years by TOMMYS: 9:19am On Jul 07
Yashita:
We cry foul too much in this country without action.

If multinationals exit, what happens to nationals taking over and recreating what left (even if na close product)?

Instead of us to think of how to replace them immediately with our local production, na to dey lament.

Nigerian youths & Lamentation na 5 & 6.
Them use lamentation do us.

I think The only stiff competition big coys have is the guys in Aba. But the Nigerian government especially the full ani wouldn't want that.

They prefer a Ghanian or Cameronian to an Igbo man.

Dont be surprised that the reason DStv is holding sway in Nigeria today is because of one Aboki somewhere.
Re: Economic Crisis: Job Losses As 16 Multinationals Exit Nigeria In 3 Years by Ironbull: 9:25am On Jul 07
Safe journey o them, it is not today we are hearing it. I remember during my man Gej era this was how they talked oh all company left Nigeria because of this because of that so its nothing new, whoever want to stay should stay whoever want to go can go with all pleaaure, the reform journey must be completed.
Re: Economic Crisis: Job Losses As 16 Multinationals Exit Nigeria In 3 Years by Lanruze: 9:34am On Jul 07
[quote author=TOMMYS post=130833671]For obvious reasons, I don't want to believe the crap of "lack of liquid foreign exchange" bla bla bla is the reason the multinational are leaving.

Open your eyes. Something is brewing. The multinationals know a secret we aren't privy to yet.

You are smart & observant. Yes, they know what we don't know and it's simple.

During the last regime some multinationals lobbied and got FX at official market rates @ less than N450 -$1 and round tripped to the parallel Market @ N600-$1 to desperate Black Market operators.

This reason above meant that Government subsidized their differential between the official rates and black market running to over $1.5 Billion monthly which was removed with the floating & unification of the FX regime.

Secondly, The scarcity of FX for repatriation is a major factor. The time value of money is in the present. By the time the FX obligations and back logs were cleared it disrupted the operations of those multinationals leading to mind-boggling losses. The.value of the funds to be repatriated had been eroded.
Re: Economic Crisis: Job Losses As 16 Multinationals Exit Nigeria In 3 Years by GorillaApp(m): 9:38am On Jul 07
KOMBE:
Let's reduce the purchasing power of the people, widen the tax net and further slow down the economy. What else do we expect in a country where a round peg is in a square hole.
I will advise any young person with an opportunity to leave this country not to think twice. The criminals in power absolutely have no plan for the future of our youth.
My brother, when that man said that nonsense,we thought it was a gaffe, but right now everything seems clear. He has fulfilled everything he said. It was not a mistake
Re: Economic Crisis: Job Losses As 16 Multinationals Exit Nigeria In 3 Years by Realtruth2023: 9:54am On Jul 07
Tjra:

Why are you rooting for a Political failure like Peter Obi despite all he did and confirmed by Obiano and Soludo?


Don't you think you also need head examination?

But Obiano confirmed that the funds used for the airport was from PO's savings also Soludo when he was campaigning hailed PO. Try and have sense to know when someone is trying to score cheap points to when someone is being two faced.

1 Like

Re: Economic Crisis: Job Losses As 16 Multinationals Exit Nigeria In 3 Years by frankson1(m): 9:55am On Jul 07
Multinationals with no mention of TotalEnergies, SPDC, Mobile, Spie etc. Mtchewww...
Re: Economic Crisis: Job Losses As 16 Multinationals Exit Nigeria In 3 Years by Realtruth2023: 9:55am On Jul 07
Tjra:

Atiku is Obi's master anyday, anytime.

Without Atiku, would Obi in his lifetime ever attempt to become a President? Before now Obi was a local APGA champion from Agulu.

Atiku brought him to the national fore. Infact, Okowa only took his ordained second fiddle slot due to his impatience.

Obidients are very ungrateful honestly.

Anyway, there is no vacancy in Aso Rock for both Atiku and his slave until 2031.

How do you mean ungrateful? Oga thisbyour entitlement spirit is making you sound foolish.
Re: Economic Crisis: Job Losses As 16 Multinationals Exit Nigeria In 3 Years by Realtruth2023: 10:00am On Jul 07
Slytiger:

He is much better than the agulu fraud trying to use gbajue on Nigerians. After Atiku, the next on the list will be Kwankwasiya or SUG president (Sowore).

Youbare doing the same thing expecting a different result. This is becoming stale, you should be smart enought to know this. I know for one that you will reply me with another screenshot in your desperation.
Re: Economic Crisis: Job Losses As 16 Multinationals Exit Nigeria In 3 Years by Realtruth2023: 10:01am On Jul 07
Slytiger:

The only tribal candidate in 2023 was the agulu fraud.

Try and shut up have shame for once in this your miserable life.
Re: Economic Crisis: Job Losses As 16 Multinationals Exit Nigeria In 3 Years by Realtruth2023: 10:02am On Jul 07
forgiveness:
It shows these companies are leeches. They are container economy based companies.

They did nothing to improve production in Nigeria by investing in production of local materials. All they did was importing and exporting.

Dobyou really believe the rubbish you just said? These multi nationals especially in the FMCG invested heavily in backward integration. If you have no idea why not just keep quiet.
Re: Economic Crisis: Job Losses As 16 Multinationals Exit Nigeria In 3 Years by Realtruth2023: 10:04am On Jul 07
Yashita:
We cry foul too much in this country without action.

If multinationals exit, what happens to nationals taking over and recreating what left (even if na close product)?

Instead of us to think of how to replace them immediately with our local production, na to dey lament.

Nigerian youths & Lamentation na 5 & 6.
Them use lamentation do us.

How can local replace them in an economy that kills businesses?
Re: Economic Crisis: Job Losses As 16 Multinationals Exit Nigeria In 3 Years by Realtruth2023: 10:05am On Jul 07
Yashita:


And the truth be told. Most of them, their products are overpriced. They've made a hell of money from Nigerians and our government accepted it.

Look at the prices/costs of data from MTN/Airtel/etc. in telecommunications. Do you know that Nigerians pay the highest for data, even more than most developing countries?

In terms of data it is not true. Have you gone to Ghana to buy data from MTN? You people should leave tribalism and speak truth to power.
Re: Economic Crisis: Job Losses As 16 Multinationals Exit Nigeria In 3 Years by Realtruth2023: 10:13am On Jul 07
Lanruze:
The exit of the Multi-nationals if carefully reviewed may be the biggest blessing for Nigeria in disguise.

Most countries in the world that achieved domestic "Home grown" economic development did so by leveraging the prosperity of its indigenious private sector especially the Manufacturing sector.

Let the Multinationals Go ! They are majorly profiteers, exploiters and opportunist.

Sovereign Countries that conquered poverty did so with home grown solutions with the Buy-in of its prosperous citizens.

Countries like South Korea through the Chaebol, Japan through its Zaibatsu, America through its Corporate Elite group, Britain through its London Stock Exchange Group (LESG) have a sound think- tank and home grown indigenious elitist groups who intervene with policy support from Government on market share, ownership structure, employment targets, protectionist laws limits etc.

Transcorp Nigeria was instituted by the Obasanjo regime solely for this reason i.e To have Nigerian businessmen and women with Nationalistic ideals gradually substitute Multinationals in core sectors of the economy including Hospitality, Manufacturing, Agriculture, Banking, Oil Exploration etc.

Nigeria still remains the most attractive market in Africa based on an intimidating population estimated as over 200m with over 55% as active and youthful.

There is prosperity lurking in Nigeria in ample quantity with transition from Multinational exit to a homegrown Industrial revolution.

Asians have identified this huge potential and have started taking position already. An example is in Tolarams through Diageo and the dominance of the FMCG sector by Asian products through the Lekki Free Trade Zone.

Recent reports indicate that with the exit of GSK Pharmaceuticals there is a big gap in the provision of inhalers for Asthmatic patients with GSK dominating 85% of the Ventolin and Seretide inhalers market share. This leaves patients to pay exorbitant prices and prey to adulterated inhalers. An immediate intervention by a local manufacturer means the demand is already present in a large market of people with medical needs.

The SMEs that have done well for themselves e.g the FINTECH, MFBs, Banks, Pharmaceuticals, Agro-Allied Companies, FMCGs should move swiftly to seeing big opportunities and take action.

Nobody will do it for us !

I think it is high time you BAT supporters face the true reality, Nigeria's market is no longer attractive as it used to be. Our purchasing power or the purchasing power of the average Nigerian has been badly eroded. We have 200m population approx, but what is the effective population that can consistently buy your goods to ensure profit? If truly our market is attractive how come shop rite is closing shop, Ebe ano has halted expansion and other companies too are affected? See face reality right now our population is our biggest problem at the moment because the unemployment rate is high and the businesses are shrinking or closing down.

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