What’s your Thought?

They pay locals peanut.

This is where she lost me. We all know this statement is not accurate. Who is cracking down on “irrregularities”? Which MDA? What specific “irregularities” are targeted? HOW are the “irregularities” being cracked down? Any policy document(s) would be very helpful to me.

I don't agree with this position. Business entities invest for: 1. Profitability 2. Create opportunities 3. Meet MKT demand. Generating profits is essential for their sustainability, growth, expansion & to create value. All these can't happen with current economic challenges.

I kind of disagree with you, I have attached the data of their growth, profit comparing 2021-2023.

Elephant cement never built the roads their trucks damage everyday, Chevron never cleaned the oil spillage nor compensate the communities they mine from. Chocolate companies and companies that manufacture chemicals don't care about the environmental and health hazards, as long

Small businesses are closing down, too, and suffering Are they doing so because they've stolen enough from us??

Your submission is very flawed. You never mentioned the regulatory changes that were introduced. The only notable addition to the previous business environment is the devaluation of the Naira, which was largely influenced by the policies of Tinubu. Two years ago, in 2022, the price of a bottle of Guinness beer in Nigeria ranged from around ₦450 to ₦600. Currently, a bottle of Guinness beer costs between ₦600 and ₦800. This price increase does not accurately reflect the true devaluation of the Naira, which exceeds 200%. In summary, companies are leaving because their profit margins have been greatly affected while their overhead costs continue to rise. Currently, the Manufacturers Association of Nigeria is in court over the 300% increase in electricity tariffs. There will undoubtedly be more companies exiting the Nigerian market, and attributing this solely to a lack of investment is misleading. I end with this quote from Dangote, who is the biggest beneficiary of a monopoly in Nigeria. He stated in May this year —- “The biggest mess created was actually the devaluation of the naira from ₦460 to ₦1,400. You can see almost 97 percent of the companies, especially in the food and beverages businesses, none of them will pay dividends this year for sure, but we will try and get out of it as soon as possible.”

She is talking Nonsense. No be by blowing phonetics. Nigeria lost N94 Trillion in the last 5 years. That’s too much a cost for any nation to bear. And totally Trashes her analysis. No responsible Govt will allow ALL those companies leave To start with. 🤬

If it was your company, with the ⛔current weak exchange rate, ⛔weak judiciary and inconsistent government polices, ⛔poor infrastructure (roads are becoming swimming pools, no electricity, etc), ⛔high inflation which forces them to increase the price of their products which locals can't even afford, ⛔high importation cost/poor local material market, ⛔extremely high cost of fuel, diesel & energy cost, ⛔insecurity, ⛔extortion through multiple taxation, levies, fees, duties, etc. ⛔reduced purchasing power of potential customer who can't even afford the cheapest food choice, WILL YOU STILL BE RUNNING THAT COMPANY? It takes a genius to run a business successfully in Nigeria these days. U can as well quit your own job in the UK and move back to Nigeria to to fund your own startup, if you're that patriotic.

Many points to note -it’s true, only patriotic Nigerians can save Nigeria. But it doesn’t mean that Nigerian businesses will not exploit Nigerians too. Govt provides the framework to ensure Nigeria doesn’t get the shorter end of the stick . - The current administration is tackling irregularities how?, can there be more details on that and how it might have spurred the divestments witnessed in Nigeria - the most potent reason for a business packing up and leaving is because they do not see a viable future in a particular market, same way most Nigerians will leave if they had the means due to the prevailing economic situation - Our education over the past 20years has not set the foundation for the future we want, the best time to start addressing that is right now. The Chinese were not handed these things, they paid the price with targeted investment in their youth. Hopefully, by 2050 if the world remains, we won’t be having the same conversation