Monday, 22 February 2016

MONDAY RANDOMS - THE POSITIVE SIDE TO THE INCREASE IN EXCHANGE RATE

Happy New week all! need I remind us, Monday Random is a segment on the blog, which tackles societal issues, personal experience from the weekend, Brands and topics you wish to share!

The current increase in Exchange rate here in Nigeria, can be credited to the fall in oil price all over the world; most oil producing countries like the Arab nation refine their own oil and don’t export their crude like we do here in Nigeria, we spend a lot to export oil we produce in our country for refining in another country. Ever since the fall in oil price, other sources of national wealth are being looked into. The present FOREX rate have created 3 situations in the country:

  1.  Made it difficult for the importers and exporters to tranzact.
  2.  Made it easy and created room for made in Nigeria products to trive.
  3. Left some people as spectators.

I love made in Nigeria products because it is affordable, has aesthetics and quality, other sector of the economy such as Agriculture, Agro allied and Manufacturing Industries will not only create Job opportunities, it will also bring industrialization and investors to Nigeria. This current increase in FOREX have made it difficult for importers to import at the current exchange rate, Now is the time to take advantage of this opportunity, think Nigeria, If you have a good business plan that will be based in Nigeria, then the BOI Bank of Industry is willing to help www.boi.ng
As for Spectators, they just keep arguing and criticizing the present government administration, instead of constructing a good business plan that will breathe and say everything Nigeria. I listened to  and was inspired by the Interview of the CEO ORIKI  skincare Joycee Awojoodu HERE and I just said to myself, in 5 years to come, Made in Nigeria will be the best thing to happen to the world and Agriculture will be our biggest source of income.

Do you know that Nigeria is the best places to do business? If you produce quality products for an estimated number of 1 Million Nigerians every day, multiply your profit by 1 million! that is huge. 
As I sat to ponder over the country’s present situation, I realized that ERISCO FOOD PROCESSING LIMITED just installed a tomato pastry processing factory at Ikeja Lagos Nigeria, which was last week commissioned by the 1st lady, he kept on smiling during the commissioning, he didn’t complain of increase in dollar rate, rather he sort means to improve the country's economy. It is time to sit up and make “made in Nigeria” work! Let the Aba guys be able to write made in Aba not made in Paris on top and Italy under the sole of the shoes they make, Let us #BuyNaija.
 You too can find Value in every situation. What are your thoughts on the current FOREX crisis in Nigeria?


If you need business Ideas or brand consultancy services, why not contact me on ujulilyan@gmail.com

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