[ECONOMICS] Which Way Nigeria?

[Doan9269]

This nation is all we have, and while politicians allocate billions of taxpayer funds to foreign trips and renovating the residences of the Vice President and the President's Chief of Staff straining the economy. Procter & Gamble, a major consumer goods company, is set to discontinue its ground operations in Nigeria, opting for an import-only business model.

Let's try to say the real thing behind the entire veil covering on what transpired in this kind of situation, first of all, know that P&G is not he only international reputable production company in Nigeria, there are numbers of others, so i don't see ge needs of them taking a leave al because of their on affordability of complying to tax demands, i can remember all goods items in the market are changing in price each day, a good product that is manufactured by P&G is the oral B we all use, this has been once sold at #250 and bow you will have to secure one at #850.

Now the question is, are there other companies making same decision on leaving for same condition of tax payment, there should be more within their inner circles they need to uncover, this was nit to cover up for the government, but there are more other sources of income that the government make use of in nation building other than tax.

[Bitco55]

This nation is all we have, and while politicians allocate billions of taxpayer funds to foreign trips and renovating the residences of the Vice President and the President's Chief of Staff straining the economy. Procter & Gamble, a major consumer goods company, is set to discontinue its ground operations in Nigeria, opting for an import-only business model.

Procter & Gamble, renowned for products such as Oral B toothpaste, Pampers, Always sanitary pads, Ariel detergent, and Gillette shaving sticks, cites the challenges of operating as a dollar-denominated entity and the prevailing macroeconomic conditions in Nigeria as reasons for its strategic shift.

It's noteworthy that this move follows GSK's departure from Nigeria earlier this year, leading to a surge in medicine prices. Similar repercussions are anticipated for Procter & Gamble's products—Oral B toothpaste, Pampers, Always sanitary pads, Ariel detergent, and Gillette shaving sticks.

The primary concern is not merely the likelihood of price hikes but whether Nigerian companies exist that can step in with high-quality, locally manufactured alternatives once Procter & Gamble exits the market.

https://nairametrics.com/2023/12/06/pg-to-dissolve-ground-operations-in-nigeria-revert-to-an-import-only-business-model/

https://africa.businessinsider.com/local/markets/pandg-to-end-manufacturing-operations-in-nigeria-reverts-to-an-import-only-business/55d8rp8#:~:text=P%26G%20produces%20a%20range%20of,toothpaste%2C%20and%20Gillette%20shaving%20stick.

Oo wow, we're even losing foreign investors now. Meanwhile, were not producing anything. At this rate the country may fall into the depression phase of business cycle. The problems of this country is even way to confusing to understand right now.

I want to ask though, currently, prices are soaring, value of currency, dropping, meaning inflation is increasing and money in circulation is increasing. If we import wouldn't we be reducing the money in the circulation, leading to more value, or is there a twist somewhere that I'm missing ?

[Makus]

Which way Nigeria no be the major thing to ask, but the main thing to ask nah which way our president, why I talk like this be say this our country get everything both oil, gas and some kind of chemicals way I no fit even make mention of them, but na our leaders dem nai dey spoil this country because only them won pack all the money and better better opportunities them dey they this country for them selfs and their families along.
So I dey try to talk say this country no be the issue but nah the leaders inside the country be the issue. For example, just assume say this country nai motor and driver dey, dey drive us and the driver dey drive us dey go we're we no know, even say we dey talk self them no dey hear, so my brother, just hustle your hustle as long as say no body worry no body, one day e go better.
This our country no poor at all, even as say we dey talk say we no get money self, at least 1 or 2 dey account and we still dey find more, so this country no poor at all, if you think say nah our own worst pass make you enter google, then search for the top 10 poorest county in the world, then you go know say Nigeria is fucking reach bro, but our bad politicians them just spoil everything and even as that self we are what we are.

Normally as we dey talk about this country the main people wey we dey refer to na our leaders wey nor dey try, and just as u talk our contri no poor at all, na just stingyness and wicked heart of man naim make am be like say we poor, apart from crude oil this contri get other natural resources, and many of Dem na for the northern part of the contri e dey. Sotay some of the government for that side come dey illegally mine our natural resources come dey go sell, no be thief be that ? Sometin wey Dem go do make e benefit everybody Dem wan keep am to Dem self, and Dem go come the south follow us share our oil money for the entire country and if any body do illegal local reffinary ( bunkry) Dem go arrest am come burn em pots to, but Dem go dey their side they thief wattin no good.

[Tmoonz]

Human capital development and industrialization is one of the key to obtain our economy full potential, this can uplift and strengthing the economy by investing in industries and promoting local productions up to a standard which will reduce total dependant on imported goods and possibly reduce it costs, this man inhumanity to man is being caused by the political leaders who have only there personal interest as a top priority and ignoring the interest of the masses.

Let there be a passionate increase in political aspiration in the mind of the younger generation without a corrupt mindset which will possibly make a positive impact in the economy because political leaders are the driving force of any  economy growth and development of any nation by properly utilizing the  allocation and performing their political obligations.these could also be a way forward to a better economy.

[icebar]

The fact be say Naija economy dey in terrible condition, e dey affect all di businesses and companies for di country. Wahala be say, as di nation dey worsen, di government no dey make effort to better things; dem dey act like say their actions no get any impact for how di nation dey run. Because of di bad state of di economy, many businesses sef don reduce di quality of their products, and customers no fit do anything as dem dey forced to accept things as e be.