Once an organisation starts hiking price every Eke market, it is only postponing its eventual "demise"/shutting down of operation. Just like PZ has seen and based on this their report, Multichoice(that recently announced an increment of subscription prices) finally pull out when they realise that whatever issue they're having in Nigeria is bigger than hiking of price
Rufai; PZ Cussons depressing business in Nigeria is not only because of the macro environment but as Rotus said, there is increased competition from indigenous players and other foreign companies from Asia from example who have more relevant offerings
@onon7687 Don't mind these APC stooges. Always telling lies and defending rubbish. "Indigenous companies"...mention them now, they can't. Nigerians can't even afford "Indigenous" rice and food stuffs, so much so that even raw yam is now being sold in slices because many people cannot afford to buy yam in tubers. Keep deceiving yourselves about "Indigenously companies" which no one knows of. Which Indigenous pharmaceutical companies have risen to making the basic needed drugs in Nigeria?
He is not. He is right. Boosting forex liquidity as the CBN and Tinubu Administration is trying to do is a good policy measure that will stimulate not just the inflow of foreign investment(direct or portfolio) but also the enhancement of business operations of existing players in the domestic economy. However, this must not be driven in isolation. Other factors such as Ayo, Rufai, and Abati touched on should be driven as well, simultaneously with the forex liquidity measure. This way, we would see a much more positive impact on the economy of the nation.
let them leave and see if they can do better somewhere else i do not think so thnk so ..its about time nigerians and africans start more internal shops and industry BUT legally,honesty and no corruption bribery then you will prosper..have electricity better and clean up dirty environment stop throwing rubbish every where which helps reduce diseases..create more jobs
What schooling are you talking about? He analyzed the issue from a single viewpoint. Forex liquidity is one thing, and the cost of doing business and consumer purchasing power are another thing altogether. Ayo nailed it very well.
You really are not smart are you. Multinationals do not care about Naira. Their profits are in Forex USD, Pounds, Euros. So When you devalue, they post losses. And when your currency is consistently unstable, they become excessively exposed and they exit due to high risk exposure. Get some sense. We cannot be celebrating repatriation of funds at significantly devalued rate. The fist devaluation to 1USD to 750NGN was enough. The govt dropped the ball. Even the past 8 years of APC was phenomenally disastrous and Tinubu cannot isolate himself from it. He sold it aggressively. People should be able to bring in investment in Forex and take out there profit. That is elementary. but Nigeria is something else.
@otikoman Mr. Smart, I see how clueless you are. You have not said anything new. You just went about something that has already been said. Dummy, you didn't read my comment before replying. Oh, sorry, I called you dummy. Not in my character. Okay, I said forex liquidity with inference to devaluation is just a part of the story... not the whole. That shouldn't be hard to grasp, right? Dummy, oh, sorry, not again. I mean, Mr. Smart, multinationals care about the cost of doing business as well as local purchasing power. This is my point, except you didn't read it, or you simply are bad at comprehension.
Let them all leave, indigenous companies will rise and take there place. We don't need foreign companies whose interests is to repatriate money from the economy. If PZ were to be indigenous would they be worried about repatriation in dollars. Those are the company putting pressure on the country. How many Nigerians company is In the UK or US repatriating money from those country to pay shareholders in Nigeria or in Africa.
Rotus need to go back to school he knows nothing about economics and international business. If he is looking for an appointment he should go and lobby instead of making a fool of himself on national television
