Emefiele’s reappointment

It’s no longer news that companies in Nigeria are in the midst of one of the toughest economic turmoil they have ever seen. Some of these guys have never experienced a recession let alone one that is not even allowing them to adapt their businesses. The main culprit of course if forex. it is killing them.

Here is what the CEO of May & Baker, Mr Nnamdi Okafor had to say.

“Unfortunately, over 98 per cent of raw materials used for vaccine manufacturing locally are being imported also.

And what is happening to importers of finished products is also happening to us (manufacturers). You have heard pronouncement from government that manufacturers are getting some special allocation for forex, which is not happening, I can assure you. We have not been able to bring in our packaging materials into the country because of forex and in fact we are surviving this year is a miracle to most of us.

“I can tell you that we cannot survive this anymore, it is not something we can live with any longer. By the first quarter of next year, most factories that are still standing will begin to shut down operations because the situation with forex is getting worse day by day.

“For the past six months, it has been challenging to cope with manufacturing. It was a bit better in the first half of the year because you could get allocations, may be 20 per cent of your requirements but in the past six months, we have not got anything from the banks on forex.

So what this means is that we have not been able to order for raw materials that normally by now should be sealing into Nigeria for next year.

“As a business, we are now proactively looking at how to handle the situation early next year, but believe me it’s going to be tough. And we are positive that by the first quarter of next year Nigeria will handle the issue of Niger Delta region.”

Let’s hope Emefiele and Buhari are both listening.

1 COMMENT

  1. “To hell with life,i have no regret,if I have to live my life again,i will do it again”,so said the French singer Edith gussion,who later changed her name to Edith Piaf,piaf means the little sparrowsHE DIED YOUNG IN HER 40s,to hell with mays and baker,all drugs are got from plant and elements,NOW WHAT IS A VACCINE ? they said the british doctor Edward jenner heard the old folks myth,so said maid in Britain,that when you have smallpox,you do not get it a second time.Dr Jenner said “what the hell is this,let me try this on some young kids” he,extracted some smallpox f from somebody who is suffering from it,they found this vaccine helps to reduces child mortality in Britain considerable.
    India have a locally native system of healthcare before colonization,with Britain occupied india,they borrowed some british system of healthcare,and they have some of the largest manufacturers of drugs in our world.all vaccine used livestock treatment in Nigeria are all manufactured in Nigeria,now what is package material all over the world and how is stored. can be locally resourced in Nigeria.aluminum.e.t.c.,glass,sealing material to avoid air entering the vaccine can be done in locally in nigeria,we all knows that.
    China uses acupunture as treatment of illness,what is acupuncture / it’s inserting needle in certain point in the body,which is purely symbolic but it bloody works,only god heals,there is no exclusive system of treatment illness.MAYS AND BAKER WERE SIMPLY LAZY

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