The Effects of Buharinomics an economic theory that wrecked havoc over 3 decades ago is beginning to rear it's ugly head as Nigeria's octogenarian leader begins the Implementation of his upside down economic policies and harmful forex restrictions....
1. Niger Dock Sacks 1400
2. Jumia lay off 300- Jumia
3. Shell Sacks - 6500 - Nigerian Monitor
4. Zenith Sacks 1200- Premium Times
5. Lacaera Sacks 700 - Vanguard
6. 60,000 construction workers sacked. The Nation
7.Coca cola sacks 800 - Osun Defender
8. Access bank sacked 800 staff NairaNaijaNews.Com
9. Skye Bank sacked 400 staff
10. Unity Bank sacked 320 staff
11. Guinness Nigeria profit decline by 75 %
12. FMCG compies record 50% decline in profits
13. MRS records 88% profit. Decline
14. Lafarge record 7 % profit decline
15. Nestlé Recors 58.2 % Profit decline
16. 5M Users Disconnect From MTN - NairaNaijaNews.Com
The list is endless.....
Foreign exchange restrictions coupled with lack of economic blueprint or direction have combined to frustrate indigenous companies and Entrepreneurs forcing them to either downsize, scale down production or close down completely.
If the current loses are not quickly reversed the companies might be forced to downsize further.
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