Mr Knowitall: [b]Most Nigerians sell their properties to travel abroad because the rate of returns for their time, effort, investment,

education etc... is much better abroad.

Also, there are other factors you have to add to the equation: security, emergency service, stability, etc...

For example, lets say that your friends car was worth $8,000, his house was worth $80,000, and his boutique was

worth $10,000. Now lets assume your friend's boutique was bringing in about $16,000 a year, and he spent about

$15,000 to come to the United States. So your friend had a minimum of $98,000 minus the $15,000 he spent on

coming to the United States, so the moment your friend lands in the U.S he has $83,000 to invest in his future.

Because your friend was making $16,000 a year in Nigeria from his boutique, every year he Spense in the U.S,

he would have to make at least that much to at least justify why he left Nigeria. But since he had $83,000 cash

on hand, you will have to divide the $83,000 by $16,000 he was making yearly in Nigeria so this gives him a 5

year head start. Every dollar your friend makes in those five year is a surplus. If anytime within those five

years your friend gets a four year degree or some kind of technical training and starts making $44,000 a year,

your friend would be consider a brilliant investor. In fact, he could even go back to Nigeria an use his degree

to work and make more money than he would had made running the boutique. There are more variables to

the equation but this is just a break down i guess. [/b]

tope3x: Hello house, I was in a friend's house last night when I met this new dude that came in on friday,he was narrating how Nigeria has been hell to his life..talking shi*ts about the country (No water,No stable electricity)and how it costed him lot of money to travel here,where he said he sold his car, his house and his boutique business that he has been managing for 3 years,but I was shaking my head within me cos I know it's not really easy to get a job here...now over to you nairalanders, Why do most Nigerians sell off their properties just to travel abroad and still work abroad to acquire same properties when they get back to Nigeria

hrhobi1: I have been to the UK twice and I came back in less than a month on both trips, I remember my family were against my return and so was my friends but 2 years on now I have built my house and I have a nice ride.

So for me to think of selling my property and car to travel abroad is unthinkable . Whats so special about jand ? I have friends living overseas for years and they can't compare what they have to mine.

Well I believe anywhere is abroad if u make it so.

Pipsland78: Those who keep abusing and insulting Nigerians who travel abroad in pursuit of better life should just shut it. I've discovered that most of these critics hold such views only because they do not yet have the opportunity to travel.

It's much better in the developed world cos everything works and order rules. And if you are not the lazy type you will not suffer. In Nigeria, hardwork does not guarantee success like it does in the developed world.

adconline:
Good analysis, but you omitted " time value" of money..ie $98k is not going to make any money until after 5 years and there is no guarantee of a job. Also, a $10k boutique with $16k profit per/yr is 160% ROI. Also, $44k after a college degree means that you are making $44k out of $98k which is about 45% ROI, the a 5-yr spread when u didn't make any money will mean about a mere 9% ROI on $98k. Also, your house as an appreciable asset, could have added another $30k in value.i.e $6k/yr in Naija

hrhobi1:

My friend if u think having a house and a good car at a young age is not prosperity please in Adams oshiomoles voice go and dieeee.

justwise:

Why did you call it slavery?

Mr Knowitall:

That is why i said that there are more variables to the equation. I could have broken it down year by year but it

would have been way too much. But ultimately selling his properties and coming to the U.S was the best choice.

omibia: And why should someone who gets the chance not travel when a principal of a secondary school earns as low as N70, 000/month making him earn N840, 000(5, 250USD) in a year while a teacher who just got employed in September in a high school here in the US earns $50, 000 a year?
I believe the quality of life you wanna live depends on you. As for me, I am not regretting coming here.

king1_00:

You have spoken well, but all you have mentioned might be a barrier to migrating, but if you are useful to an organization, no corporation will use the above mentioned as an excuse to maximize shareholders wealth. If you are valuable the rest is history. HR in the US is nothing close to HR in Nigeria. when they see a talent they recognize it, doesn't matter if you are yellow green or orange. Companies can be sued and pay high fine if they do such. And trust me the least thing you want to do as a firm is get on the bad side of the government. i presently intern for the No 1 fortune 500 company and you will be amazed how many africans, Chinese and indians work with me and all earn above 65k. They have all have the qualities you mentioned. I am talking from a professional stand point of view not menial jobs. The one area that i know most companies are deviating from is hiring people that would require sponsorship not basically because of the cost but other resources that are tied up to this process with HR. Please i am referring to professional jobs here not menial hourly jobs. I am not saying this factors do not decrease ones chances, but Just add value and know what you are doing you will definitely get a good job. Although my accent is not that strong, but i was interviewed with other white american student at least 6 that i know of and i got the internship position.

adconline:
I would not encourage someone who is well established in Naija like the OP to sell off his assets, come and hustle in Yankee. Uncertainties outweight likely benefits, but I would encourage a starter, someone who has nothing to lose to come and start over.

Niseamaka:

Making money is not the only reason why folks elope from Nigeria. Insecurity of lives and properties as well as epileptic nature of social amenities is a contributory factor. A relatively wealthy close friend of mine relocated due to a near death experience in the hands of hoodlums.

Agbaka1:
God bless u bro. except God single u out of d crowd in dis country u are on ur own no matter ur skills/degree. talking from experience.
forgive me if i offended u in d other thread (FTA)

ceejayluv: A certain Tony Ezenna sold his Chemist stores in Aba to travel. Years later he's the CEO of Orange drugs Ltd...
No risk, no reward.

Ndipe: a school principal earns 5 milion naira a year in Nigeria, are you sure of your figures?

emmanuel ewumi:


you are wrong a principal in a public school earns about 5 million naira per annum, while principals of high brow private schools earn more than this.

emmanuel ewumi:


you are wrong a principal in a public school earns about 5 million naira per annum, while principals of high brow private schools earn more than this.

Ndipe: a school principal earns 5 milion naira a year in Nigeria, are you sure of your figures?

saxywale:
A professor at a federal university hardly earns up to 3m per annum not to mention a secondary school principal. I believe you are just being sarcastic.

Ndipe: a school principal earns 5 milion naira a year in Nigeria, are you sure of your figures?

emmanuel ewumi:

http://www.vanguardngr.com/2011/02/lagos-ratifies-new-salary-package/

This is the basic pay, mind you a principal in Lagos is a minimum of level 16 officer, some are actually on level 17.


Tutors-general in the various districts of education in Lagos are on the same level with the permanent Secretary. This was introduced by Tinubu in Lagos.

wwwkaycom:
I know a man in Akure who sold his house in 1996 to send his then 23 year old FUTA graduate son to US, I learnt this guy studied and became a medical doctor in the US, in this 18years in the US, this guy has built a better house for his father in Akure, the man, now in his late sixties drives around in beautiful American cars and seems to be living well. Two other sons of this man are now in US courtesy the elder one who went in 1996. Methink its good investment for him since it is yielding good returns.

Mr Knowitall: [b]Most Nigerians sell their properties to travel abroad because the rate of returns for their time, effort, investment,

education etc... is much better abroad.

Also, there are other factors you have to add to the equation: security, emergency service, stability, etc...

For example, lets say that your friends car was worth $8,000, his house was worth $80,000, and his boutique was

worth $10,000. Now lets assume your friend's boutique was bringing in about $16,000 a year, and he spent about

$15,000 to come to the United States. So your friend had a minimum of $98,000 minus the $15,000 he spent on

coming to the United States, so the moment your friend lands in the U.S he has $83,000 to invest in his future.

Because your friend was making $16,000 a year in Nigeria from his boutique, every year he Spense in the U.S,

he would have to make at least that much to at least justify why he left Nigeria. But since he had $83,000 cash

on hand, you will have to divide the $83,000 by $16,000 he was making yearly in Nigeria so this gives him a 5

year head start. Every dollar your friend makes in those five year is a surplus. If anytime within those five

years your friend gets a four year degree or some kind of technical training and starts making $44,000 a year,

your friend would be consider a brilliant investor. In fact, he could even go back to Nigeria an use his degree

to work and make more money than he would had made running the boutique. There are more variables to

the equation but this is just a break down i guess. [/b]

king1_00:

Why strive to buy a 2013 car when a 1995 car works perfectly. Wake up to the reality dude. If an oppurtunity is given then it should be taken if the oppurtunity cost is lower.