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Cosmas Maduka Coscharis Regrets Investing N1.7billion On Vehicle Assembly Plant - Business (3) - Nairaland

Nairaland Forum / Nairaland / General / Business / Cosmas Maduka Coscharis Regrets Investing N1.7billion On Vehicle Assembly Plant (45760 Views)

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Re: Cosmas Maduka Coscharis Regrets Investing N1.7billion On Vehicle Assembly Plant by Toscarel: 3:14pm On Aug 27, 2019
miteolu:
N1.7billion is small for a successful vehicle plants.

do you have 17k in your account ?
Re: Cosmas Maduka Coscharis Regrets Investing N1.7billion On Vehicle Assembly Plant by uuzba(m): 3:15pm On Aug 27, 2019
drey076:
Do you know the implication of the bill to masses?

if Buhari had implemented the policy, you people will still rush to social media to rain insults on him
Block importation of foreign brands.
Manufacture affordable made in Nigeria brands.
I pass by that area everyday along Lekki expressway. The place just looks somehow half alive, half dead.
Potholes, villages and poor people all around that area and guy is trying to sell Billion naira cars.
Why do we spite the poor?

1 Like

Re: Cosmas Maduka Coscharis Regrets Investing N1.7billion On Vehicle Assembly Plant by Nobody: 3:16pm On Aug 27, 2019
is it $50m or N1.7B because they are not the same?
Re: Cosmas Maduka Coscharis Regrets Investing N1.7billion On Vehicle Assembly Plant by saajus: 3:17pm On Aug 27, 2019
You meant 17B Naira, not 1.7B Naira. When I first saw 1.7B I wonder which kind of assembly plant is that but later on, I saw $53m and I discovered it must be typo
Re: Cosmas Maduka Coscharis Regrets Investing N1.7billion On Vehicle Assembly Plant by Nobody: 3:19pm On Aug 27, 2019
Another misguided and lost Igbo man. If he had invested such amount of money back in his area, do you know how many jobs he would have created for the masses? As unstable and very divided as Nigeria is, any Igbo man that invests outside his enclave is dumb and stupid. Look around you and show me any wealthy person from any other part of Nigeria outside the Eastern part of the country that has any investment albeit small in the east. It would never happen because they are smart and understand the dynamic that's at play in Nigeria. But Igbos would leave their homes in droves and go outside to invest and build up remote areas that were uninhabitable before. The sad part is that after these "lost souls" build up these areas with their own sweat and blood, the government of the area would promulgate a new law that would relinquish them of their investments by coming up with some flimsy excuses to move them to another remote place for them to develop again. As the saying goes, "Beautification of oneself starts at home before you venture out in public." Not until the Igbos understand the game that is being played by the other stake holders, they would continue to be a lost tribe flailing in the wind. A word is enough for the wise!

1 Like

Re: Cosmas Maduka Coscharis Regrets Investing N1.7billion On Vehicle Assembly Plant by TSRC: 3:19pm On Aug 27, 2019
He is an idiot.
He went and Build it in lekki. Is it those rich guys there that will buy your product?

If he had built it in his region, he could have used sentiments to push and sell his products like innoson is doing.

Innoson would succeed where he has failed.
Re: Cosmas Maduka Coscharis Regrets Investing N1.7billion On Vehicle Assembly Plant by Nobody: 3:23pm On Aug 27, 2019
miteolu:
N1.7billion is small for a successful vehicle plants.

don't mind the OP. He doesn't know how to do calculations. Coscharis invested $50 million which translates to about 17 billion Naira (seventeen).
it's just poor proofreading
Re: Cosmas Maduka Coscharis Regrets Investing N1.7billion On Vehicle Assembly Plant by Nobody: 3:26pm On Aug 27, 2019
MelesZenawi:
This present government derives joy in disaster.

But why will you build it at lekki...

We have Enugu, Imo state or even anambra state to do that....

I will prefer you shift it to Imo state, so that guys go dey see food chop.

Anyway buhari is a disaster.

He built it in Lekki because of the free trade zone there which gives him lots of concessions as he goes about importing parts.

1 Like

Re: Cosmas Maduka Coscharis Regrets Investing N1.7billion On Vehicle Assembly Plant by saajus: 3:28pm On Aug 27, 2019
I know Maduka is a brilliant man and he would have thought deep before choosing Lekki. I think the major reason was proximity to the seaport. Logistics of moving those auto parts to the East could be difficult. Innoson is successful because he has a good rapport with Igbo politicians

MaNyEsq:
Another misguided and lost Igbo man. If he had invested such amount of money back in his area, do you know how many jobs he would have created for the masses? As unstable and very divided as Nigeria is, any Igbo man that invests outside his enclave is dumb and stupid. Look around you and show me any wealthy person from any other part of Nigeria outside the Eastern part of the country that has any investment albeit small in the east. It would never happen because they are smart and understand the dynamic that's at play in Nigeria. But Igbos would leave their homes in droves and go outside to invest and build up remote areas that were uninhabitable before. The sad part is that after these "lost souls" build up these areas with their own sweat and blood, the government of the area would promulgate a new law that would relinquish them of their investments by coming up with some flimsy excuses to move them to another remote place for them to develop again. As the saying goes, "Beautification of oneself starts at home before you venture out in public." Not until the Igbos understand the game that is being played by the other stake holders, they would continue to be a lost tribe flailing in the wind. A word is enough for the wise!
Re: Cosmas Maduka Coscharis Regrets Investing N1.7billion On Vehicle Assembly Plant by Tayeni(m): 3:30pm On Aug 27, 2019
MelesZenawi:
This present government derives joy in disaster.

But why will you build it at lekki...

We have Enugu, Imo state or even anambra state to do that....

I will prefer you shift it to Imo state, so that guys go dey see food chop.

Anyway buhari is a disaster.
Moving to IMO will only add to his already bloated production cost
Re: Cosmas Maduka Coscharis Regrets Investing N1.7billion On Vehicle Assembly Plant by Lexusgs430: 3:32pm On Aug 27, 2019
Believe any government policies at your peril.....


I can buy that asset for 1 naira, hopefully one day, one day...... It might be put to use......
Re: Cosmas Maduka Coscharis Regrets Investing N1.7billion On Vehicle Assembly Plant by osazsky(m): 3:32pm On Aug 27, 2019
Them still they buy new cars,when Belgium and second hand full everywhere is as if u dont know d standard of living here ,10000 cars per year kill u in a country were more than 65% of its populace live on 100 dollars per month.only politicians and big pastors will buy this ur yeye cars

1 Like

Re: Cosmas Maduka Coscharis Regrets Investing N1.7billion On Vehicle Assembly Plant by sacramento1212: 3:34pm On Aug 27, 2019
Mutemenot:


Oga, the cars aren't meant for the poor. Even in developed nations people also buy used cars and that didn't stop them from producing or assembling cars . Our banks, government and other companies buys new cars. Even a good number of Nigerians buy new cars..
All that is needed is to encourage them with good policy, such policy should one that can discourage people from importing news, a policy that could push our car users to depend on the locally produced or assembled cars...
I once bn to a coy try where the cost of clearing a foreign car can easily get you a locally made car . Let us promote our own and see how we can progress .. remember Peugeot used to be a popular car in Nigeria then, their plants coukd be located in all parts of the country but where are they now? Bad government/policy has chased the plants to early grave

No one is discouraging them from thriving and infact because of the manufacturing/assembling of cars locally, importation of cars became more expensive not even for brand new but also fairly used ones even though not factoring exchange rate to procure these vehicles.

Currently in Nigeria when compared to in the past, how many companies are buying brand new cars? In the past, a brand new Toyota Corolla used to sell for less than #4,000,000 but today it's almost times 3 of that figure.

In the past companies like Briscoe and Elizade i guess only stock brand new cars but today, they also sell fairly used even though certified to enable them remain in business. Where these car assembling or manufacturing companies willing to establish various plants in Nigeria get it wrong is that it seems they want the government to shut down importation of cars in Nigeria to enable them thrive, that's where they will get it wrong.

Government has even assisted them by even a massive increase in import duties/clearing cost to discourage import and for now that's a fair deal for anyone willing to invest in this sector.

1 Like

Re: Cosmas Maduka Coscharis Regrets Investing N1.7billion On Vehicle Assembly Plant by Reference(m): 3:37pm On Aug 27, 2019
I will repeat this again.

In the 70's virtually all the cars used in Nigeria were European with a few American models. This was a time Peugeot, Leyland and Mercedes Benz were assembling vehicles in Nigeria. The Japanese launched their cars in the 70's and were ignored by the public on account of build quality. It was only when the economy began to falter that 'cheap' Japanese cars became attractive.

Fast forward a decade later and those cheap cars became expensive due to the rising profile, in came the Koreans with Daewoo and Kia but the same problem, quality.

Fast forward a decade later it was the turn of the Chinese since the Korean vehicles too became exclusive. Today it is Indian vehicles that are the base bargains, even Chinese cars are getting out of hand.

Remember, that Nigeria began vehicle assembly before Japanese cars took root in the late 70's. Fast forward to today. All other cou tries have long moved forward. We are still debating the economics of having on automobile industry.

Please if there is still something called a curse, what can describe it better. If you as a citizen questions the attempt by anyone to right this madness saying who can afford vehicles should hide his head in shame if you know how muchhas been spent importing automobiles into Nigeria since the 70's and how much will have been gained for industry, for jobs and for the prosperity of the Nigerian over this time.

Our shame will soon be complete when we begin to import automobiles from factories in Ghana and Togo while we play with our destinies.... lazy, reprobate citizens...

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Re: Cosmas Maduka Coscharis Regrets Investing N1.7billion On Vehicle Assembly Plant by tex73: 3:40pm On Aug 27, 2019
If it were Dangote or someone from the North, all importation of cars would've been baned. Thats how he became a billionaire. All policies were made to favor him and r still made to favor him and the northern elites . cool
Re: Cosmas Maduka Coscharis Regrets Investing N1.7billion On Vehicle Assembly Plant by Ghostmode2two(m): 3:41pm On Aug 27, 2019
Doing business in Nigeria is tough and rough
Re: Cosmas Maduka Coscharis Regrets Investing N1.7billion On Vehicle Assembly Plant by Nobody: 3:42pm On Aug 27, 2019
Epah go and service your debt from the bank loan you took joor no dey come here come rant.....

2 Likes

Re: Cosmas Maduka Coscharis Regrets Investing N1.7billion On Vehicle Assembly Plant by scudmiz: 3:43pm On Aug 27, 2019
Look into your marketing strategy. Many middle level Nigerians are ready to get the cars on loan to be repaid over 5 - 6 years when linked with their banks or pension fund collectors. Nigerians will support this laudable project if it is made affordable to them. I believe that the quality of the cars meet or better the tokunbo cars.

1 Like

Re: Cosmas Maduka Coscharis Regrets Investing N1.7billion On Vehicle Assembly Plant by Nobody: 3:45pm On Aug 27, 2019
Tayeni:
Moving to IMO will only add to his already bloated production cost

Ok...Tayeni
Re: Cosmas Maduka Coscharis Regrets Investing N1.7billion On Vehicle Assembly Plant by osazsky(m): 3:45pm On Aug 27, 2019
Mutemenot:


Oga, the cars aren't meant for the poor. Even in developed nations people also buy used cars and that didn't stop them from producing or assembling cars . Our banks, government and other companies buys new cars. Even a good number of Nigerians buy new cars..
All that is needed is to encourage them with good policy, such policy should one that can discourage people from importing news, a policy that could push our car users to depend on the locally produced or assembled cars...
I once bn to a coy try where the cost of clearing a foreign car can easily get you a locally made car . Let us promote our own and see how we can progress .. remember Peugeot used to be a popular car in Nigeria then, their plants coukd be located in all parts of the country but where are they now? Bad government/policy has chased the plants to early grave
oga how many people do u know that have bought new cars and y dont u go and buy new one,my sch bought a Corolla for 25m sometime that is sold for 6m in sapele road clean one,am I mad,a countty were 65 percent of its populace leave on less than 200 dollars a month ,y is he complaining to us since is mkt targets are banks and organisations 10000 new cars every year kill u thare, assembling plant u didn't read were they said in conjuction with Ford motors

1 Like

Re: Cosmas Maduka Coscharis Regrets Investing N1.7billion On Vehicle Assembly Plant by safetyInspector(m): 3:45pm On Aug 27, 2019
So you haven't read about Dangote complained of his wrong investment in tomato paste factory?. Who made Dangote what he is toady, I guess Sango made him not FG. You hate for the Igbos will soon make you mad.
ibkgab001:
Sorry man but the same government policy ADE you what you are today




Later on, he co-founded a spare parts company known as CosDave with his friend, Dave. The startup also failed sooner than expected and Maduka went to establish the Coscharis Motor with the sum of three hundred naira N300 which focused sales of automobile spare parts in 1977. The name of the company according to him is a combination of his first name, Cosmos and his wife, Charity, which he married at age 21. Maduka business breakthrough started in 1982, when the Nigeria government granted ten (10) motor companies import license, which Coscharis was selected.
Today, the Cocharis Group is a conglomerate with a net-worth of $500million with several subsidiaries including Manufacturing, ICT, Petrochemical, Auto care and Auto Components, Automobile Sales and Services, Agric and Agro Allied business sectors. Cocharis Motors is a leading distributors of several brands of luxuries cars including Range Rover, Ford and Jaguar.




Reaso. Why you have to fear all this Igbo; they will never apperitiate always complaining and feeling as if someone is cheating them
Re: Cosmas Maduka Coscharis Regrets Investing N1.7billion On Vehicle Assembly Plant by Reference(m): 3:49pm On Aug 27, 2019
As we shun industrialization we get poorer and poorer and the gap between us and what other progressive nations make will continue to widen. So we can sit our lazy asses down and do nothing but whine that we cannot afford what we should make. Very soon the world willrun out of cou tries that can make stuff we need and we will be left at the bottom of the ladder or at the base of the table eating the leftovers of the world.

We are not even ashamed to admit we prefer to buy used stuff. We gleefully defend it at the expense of our prosperity. I am not saying it is a crime to buy used but it is a shame to make it a way of life, of thinking, of hope and of the future just as begging is not crime until it becomes a way of life.

Boy we have no leadership. No one to inspire and inject national pride into a people and wake them from the slumber of hopelessness. All we have are leaders of deceit who paint rosy pictures in the daytime and join us to rest under the bridge in the wee hours of the night when no one is watching. Hapless nation.

If I were to be president in this situation today I will be on speed dial with every major industrialist in Nigeria and I will want to know their thinking and positive moves even before they imagine them.

2 Likes

Re: Cosmas Maduka Coscharis Regrets Investing N1.7billion On Vehicle Assembly Plant by JobsandSchools: 3:50pm On Aug 27, 2019
Everybody regret
Re: Cosmas Maduka Coscharis Regrets Investing N1.7billion On Vehicle Assembly Plant by frowland(m): 3:51pm On Aug 27, 2019
Nbote:
D govt wants ppl to invest in other sectors of d economy and wants Nigerians to patronize made in Nigeria but yet it's policies and d business environment in d country will wreck any investment.. Now imagine one of d biggest investor's in d auto sector complaining.. What is d hope for prospective investors and potential start-ups.. Dis govt is jus a buzzkill for innovation and investments period

The Auto policy will cripple the second hand (Tokumbo) market along with its value chains. Thereby sending many more people into excruciating poverty due to reduced imports, taxes derived, agents and so forth. So before you type, learn to think with your head not your heart. Even if you hate the govt, ask yourself if its the right time to sign that doc?
This billionaires are after more billions even at the detriment of the average car dealer on the street.

1 Like

Re: Cosmas Maduka Coscharis Regrets Investing N1.7billion On Vehicle Assembly Plant by ibkgab001: 3:57pm On Aug 27, 2019
safetyInspector:
So you haven't read about Dangote complained of his wrong investment in tomato paste factory?. Who made Dangote what he is toady, I guess Sango made him not FG. You hate for the Igbos will soon make you mad.


I never heard man is only people with flat head that always complain
Re: Cosmas Maduka Coscharis Regrets Investing N1.7billion On Vehicle Assembly Plant by Nobody: 4:00pm On Aug 27, 2019
saajus:
I know Maduka is a brilliant man and he would have thought deep before choosing Lekki. I think the major reason was proximity to the seaport. Logistics of moving those auto parts to the East could be difficult. Innoson is successful because he has a good rapport with Igbo politicians


If Innoson can do it and be successful, why not the rest? I do not buy the nearness to the seaport argument...that's a very flimsy excuse. Igbos have investments all over the country including places that are farther from seaport than some places in the east. Any Igbo man or woman that would invest in any area of the country other than in the east, did not learn any lesson from the ABANDONED PROPERTY saga. I guarantee you , it's bound to happen again because Nigeria is not one UNITED country regardless of what people in power would say. Tell me if Nigeria is one country why would a citizen be deported from his own country?? Nigerian unity is nothing but an illusion.

1 Like

Re: Cosmas Maduka Coscharis Regrets Investing N1.7billion On Vehicle Assembly Plant by Paulo3ree(m): 4:09pm On Aug 27, 2019
publicsensor:
And if it were gainful, you wouldn't have share the credit with anyone, Sir
What a comment
Re: Cosmas Maduka Coscharis Regrets Investing N1.7billion On Vehicle Assembly Plant by alphaNomega: 4:11pm On Aug 27, 2019
ednut1:
the yams he has been eating all these while from inflated car supplies to government (e.g oduah) taken back

This post is underrated

1 Like

Re: Cosmas Maduka Coscharis Regrets Investing N1.7billion On Vehicle Assembly Plant by DexterousOne(m): 4:22pm On Aug 27, 2019
MelesZenawi:
This present government derives joy in disaster.

But why will you build it at lekki...

We have Enugu, Imo state or even anambra state to do that....

I will prefer you shift it to Imo state, so that guys go dey see food chop.

Anyway buhari is a disaster.

I don't understand you
Re: Cosmas Maduka Coscharis Regrets Investing N1.7billion On Vehicle Assembly Plant by seanjy4konji: 4:23pm On Aug 27, 2019
who cares
Re: Cosmas Maduka Coscharis Regrets Investing N1.7billion On Vehicle Assembly Plant by tomdon(m): 4:26pm On Aug 27, 2019
Gbengais:
$50m is more than 1.7 billion naira


It's 17b naira
Re: Cosmas Maduka Coscharis Regrets Investing N1.7billion On Vehicle Assembly Plant by Nobody: 4:28pm On Aug 27, 2019
publicsensor:
And if it were gainful, you wouldn't have share the credit with anyone, Sir

If you had any iota of shame left in you for your high powered ignorance, you wouldn't have made this brainless comment.

Do you know how many Nigerians that would have been gainfully employed by that establishment?

Do you know the growth impact it would have had on the Nigerian economy?

Has common sense also left the shores of Nigeria?

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