August 16, 2016
HOW COME? Lebanese & Chinese are making it in Nigeria but our people are struggling
"Recently I was telling a friend that Cool FM, Wazobia FM, Nigeria Info, Wazobia TV, Cool Link, Chocolate Royal, etc., are all owned by an individual. The guy shouted that this couldn't be true!
So, when I further told him that these companies are infact owned by a foreigner, a Lebanese, the guy almost punched my fine face.
Most Nigerians currently feel like hanging Mr. President.
Particularly, the importers, due to the dollar rise. I've been feeling the same way too, until I had an encounter with a Chinese guy, and I've since realized that i was just naive.
This Chinese guy has a factory that manufactures furniture here in Nigeria. One of his raw materials is wood, which he sources from Nigeria, because Nigerian wood is cheap and of the best quality.
But he has to import other accessories.
However, one of the amazing things he does, since the rise of the dollar, is that he has been importing accessories, yet he has not increased the price of his products.
The guy has put his wife in charge of the factory, while he spends most of his time in Shagamu, Ogun State, buying timber and exporting to China.
The money from the exported timber that was supposed to be transferred back to him here in Nigeria, is being used to buy the furniture accessories he uses for production.
By so doing, he doesn't need to buy dollar.
So he told me: "Emmanuel, I don't have problem with dollar rising to N500...because I don't need it for anything."
He said his Indian friend does the same thing with Ginger export.
So the Indians, the Chinese and the Lebanese are busy coming up with strategies that have defied the dollar challenge, while Nigerians are shouting 'dollar is high'.
Well...here's food for thought o, my fellow Nigerians.