A $30 tee is now a N12,000 + tee, N1million naira is now $2,500. I have been closely watching the operations of a Chinese shoe manufacturing establishment in Ikeja over the past 6 months, their business model is very inspiring. They bring in the soles of shoes 2 containers full every 6months. Every two months they buy animal hides straight from the market.. (These hides are still wet), then they sun dry them on their roof.
After which they tan and dye these hides. Their staff consist 95% percent Nigerians, young people no older than 22-23 no younger than 15, they work two shifts and use a generator like other factories on the street. Every 3 months buses and pickups queue up to Load and distribute these finished shoes that range from foot wear for babies to female slippers.
Their products are beautiful I have to say.
The sheer volume of goods produced in that factory is impressive especially considering that they have not been in business for up to two years..Aside from the financing and positive attitude of the Chinese government to business and its support of its citizens expansions in to the world, the way the Chinese create networks is something worth emulating. Networks are not self serving but allows new entrants plug in and benefit from the evolution and development of said network.