Foreigners running informal businesses in Nigeria

P

Paul Oga

New member
What Nigerians doesn't know about Chinese that run informal businesses in Nigeria.

1. Their businesses are not registered; for a foreigner to register a business in Nigeria, the business must have a Nigerian as one of major shareholder but in the case of Chinese is not so.

2. They don't pay any dime tax, it is only registered businesses pays taxes. They use personal accounts to run the business.

3. 100% repatriation of the funds without any local economy impact.

4. They use unofficial FX channel to repatriate their funds, meaning no value captured by CBN during repatriation. In other words Nigeria economy loses.
5. Poor salary structure for their sales girls.
6. Most of them are on visitor's visa and have over stayed. They can't tolerate this in their home country.

Traders at Tradefair Market Complex knows all these but my people are not strategic, it is easier to check mate them.

Use agencies in charge of enforcing those things I listed and close their business.

Sensational emotions and protest won't help, it will even cause more damage..

Igbos it is time to be strategic, use systems against them.

One thing about Chinese is that they don't like impact driven business or paying taxes.

The moment you make the environment unconducive for them, they will leave.
 
They have also built special channel of clearing their goods far cheaper,through COLLUSION with some CORRUPT CUSTOMS officers.
 
The companies they run here , if you see how they matreat Nigerians you will feel sorry for Nigerians...

They don't even know if you are Igbo or Yoruba....
 
Low interest rate of 3% compare to Nigeria of over 30%. They thought is only Igbo man business... It will affect every one because the economy don't recognize tribe.
 
You are saying the fact, Chinese clears goods more cheaper in Nigeria port than Nigeria, but in China you can never do any government transaction without a Chinese being in the front.

Check out Free trade zone in Lagos
 
An India man told me I shouldn't worry about NAFDAC because they have fake authentic way to generate NAFDAC number.

Let's keep making it Igbo against Yoruba.

We need to speak the truth else we will all learn the hard way.
 
Ultimately, it's the Nigerian economy that will suffer the consequences of our government not protecting its domestic businesses against foreign "invasion".

My submission earlier on the issue:
We have a lot to fix in our country.
I spent a considerable amount of time earlier today trying to educate folks about ECONOMIC PROTECTIONISM, which no reasonable economy takes lightly.
However, some of our citizens, perhaps in order to target the Igbos, think it's okay to throw open our borders to all manner of business practices that exploit us.
When Ghanaians discovered that their local businesses were being stifled by Nigerian retail businesses, as they could not compete favorably, they protested, and their government backed them to drive away our nationals who were engaged in petty trading, just like the South Africans did recently, even though theirs had the toga of xenophobia.
But here we are: our local businesses are groaning under a similar weight of strangulation, yet a cross-section of our ignorant citizens appears to be siding with the Chinese.
If insecurity increases around us by tomorrow, we won't realize that we brought it upon ourselves through our bad policies and poor judgment.
 
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