PZ Cussons Highlights Nigeria's Significance As Naira Devaluation Eats Into Profits

Arise Business Correspondent Rotus Oddiri discussed the Q3 Trading Update from UK Consumer Goods Firm PZ Cussons as it discussed its financial performance across its geographical footprint
Arise Business Correspondent Rotus Oddiri discussed the Q3 Trading Update from UK Consumer Goods Firm PZ Cussons as it discussed its financial performance across its geographical footprint
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[@princewalesoniyiki1690]

Thank you guys, Dr Abati and Rufai should be Economists! You guys just nailed it with analysis and the solutions. Good job! From Germany

[@AmadiRobotics]

DRS Abati and Oseni, respectively!!

[@StevenGowon]

This Rotus guy is so eager to give some undeserved credit to this government and their trial and error handling of the economy

[@IzunduNwafor-jn4wu]

Good luck to PZ, my family will miss them, my traded with them till he retired from business.

[@user-ns4no2br5q]

My Concern is if Pz is leaving Nigeria what happens to the employees of this company

[@Tirelesswarrior]

Reuben Abati. Brilliant helicopter view and analysis.

[@olabodewasiu2627]

Welldone rufai!

[@NnaemekaDike]

Once an organisation starts hiking price every Eke market, it is only postponing its eventual "demise"/shutting down of operation. Just like PZ has seen and based on this their report, Multichoice(that recently announced an increment of subscription prices) finally pull out when they realise that whatever issue they're having in Nigeria is bigger than hiking of price

[@olayinkaadeleye3134]

We need our own home grown companies

[@HBee.]

Repatriation of huge fund could also be divestment, yes this market is key in the African continent but how attractive is it.

[@aipboess7138]

Rufai; PZ Cussons depressing business in Nigeria is not only because of the macro environment but as Rotus said, there is increased competition from indigenous players and other foreign companies from Asia from example who have more relevant offerings

[@onon7687]

What indigenous players chased PZ out of Nigeria?

[@godwinella]

​@onon7687 Don't mind these APC stooges. Always telling lies and defending rubbish. "Indigenous companies"...mention them now, they can't. Nigerians can't even afford "Indigenous" rice and food stuffs, so much so that even raw yam is now being sold in slices because many people cannot afford to buy yam in tubers. Keep deceiving yourselves about "Indigenously companies" which no one knows of. Which Indigenous pharmaceutical companies have risen to making the basic needed drugs in Nigeria?

[@nwananka]

Rotus, these are aggressive interventions with no sound economic base. We will be here again

[@future--tv]

Oseni Rufia is the best journalist but the other guy doesn't not know anything just beating around the bush

[@richevericheve5156]

let them leave and see if they can do better somewhere else i do not think so thnk so ..its about time nigerians and africans start more internal shops and industry BUT legally,honesty and no corruption bribery then you will prosper..have electricity better and clean up dirty environment stop throwing rubbish every where which helps reduce diseases..create more jobs

[@bobijeh2678]

I think these companies will suffer because the people's purchasing power now is at its lowest.

[@ajibadeolamide1424]

Rufia rufia, you don't want to have enemy like Rufia, stubborn enemy, alway bad energy.

[@olivercage4398]

Let them all leave, indigenous companies will rise and take there place. We don't need foreign companies whose interests is to repatriate money from the economy. If PZ were to be indigenous would they be worried about repatriation in dollars. Those are the company putting pressure on the country. How many Nigerians company is In the UK or US repatriating money from those country to pay shareholders in Nigeria or in Africa.

[@future--tv]

This rotus doesn't know anything he always wants to defend tinubu because maybe he as collected money from tinubu

[@kulata]

Rotus schooling the Agricultural scientist 😅

[@obehiokojie4066]

What schooling are you talking about? He analyzed the issue from a single viewpoint. Forex liquidity is one thing, and the cost of doing business and consumer purchasing power are another thing altogether. Ayo nailed it very well.

[@otikoman]

You really are not smart are you. Multinationals do not care about Naira. Their profits are in Forex USD, Pounds, Euros. So When you devalue, they post losses. And when your currency is consistently unstable, they become excessively exposed and they exit due to high risk exposure. Get some sense. We cannot be celebrating repatriation of funds at significantly devalued rate. The fist devaluation to 1USD to 750NGN was enough. The govt dropped the ball. Even the past 8 years of APC was phenomenally disastrous and Tinubu cannot isolate himself from it. He sold it aggressively. People should be able to bring in investment in Forex and take out there profit. That is elementary. but Nigeria is something else.

[@obehiokojie4066]

@otikoman Mr. Smart, I see how clueless you are. You have not said anything new. You just went about something that has already been said. Dummy, you didn't read my comment before replying. Oh, sorry, I called you dummy. Not in my character. Okay, I said forex liquidity with inference to devaluation is just a part of the story... not the whole. That shouldn't be hard to grasp, right? Dummy, oh, sorry, not again. I mean, Mr. Smart, multinationals care about the cost of doing business as well as local purchasing power. This is my point, except you didn't read it, or you simply are bad at comprehension.

[@obehiokojie4066]

@otikoman Hey, I retract my reply to your comment. I'm sorry it was a mix-up.

[@godwinella]

When will Rotus stop doing window dressing for this government, pertaining the present abysmal economic situation in the country 🙄?

[@princewalesoniyiki1690]

I wonder oo... Well if he doesn't do that . Rufai will just make things worse for him 😅😅😅

[@obehiokojie4066]

He is not. He is right. Boosting forex liquidity as the CBN and Tinubu Administration is trying to do is a good policy measure that will stimulate not just the inflow of foreign investment(direct or portfolio) but also the enhancement of business operations of existing players in the domestic economy. However, this must not be driven in isolation. Other factors such as Ayo, Rufai, and Abati touched on should be driven as well, simultaneously with the forex liquidity measure. This way, we would see a much more positive impact on the economy of the nation.

[@menubachinedu9135]

Rotus need to go back to school he knows nothing about economics and international business. If he is looking for an appointment he should go and lobby instead of making a fool of himself on national television

[@mikhel7183]

dis ratus is senseless! always carryin agbado in his pocket!

[@future--tv]

Oga the manual table side Africa not a nigeria wonder the type of school this mumu journalist go oo

[@martinsaladejuyigbe7274]

Rufai you know nothing about Economic fundamentals, and how to read and analyse financial reports.

[@menubachinedu9135]

You have spoken like a tribal bigot nothing more