Wodu89:
Business. 6M can give birth to 60-100M in a year. I'm not sharing my Intel. And I'm not asking for investors. We dey build on a steady beat

U are asking for investors.anybody wey follow nairaland person go do business is asking for premium tears

Wickedfacts:


Who is this fool talking to?
Abi craze dey worry your mama.

Didn't you see where I said it is employees who are relocating? Or the fellow collecting 500k, is he not an employee?
By the way, If not that poverty is entrenched in your lineage, how much is 500k per month sef?
500k is what you see as big money. You're a failure in life.

Just so you know, some of us have businesses here and we can't fold ship and relocate. If we do, people like you will suffer.

I bought a business last year. Renewable Energy business. The owner relocated to Canada and his technicians were just going anyhow here. The turnover between June 1 and today is enough to pay staff salaries for next 4 years comfortably. Mind you, my regional solar engineers earn more than that 500k you are shouting.

Some people are destined to be slaves abroad and all their lives, they are destined to constantly go in search of slavery.

Baba abeg employ me for your ministry Ooo biko.

Zonefree:

Where's your shrine located, Baba?

Might be a gambler

bdon123:

U are asking for investors.anybody wey follow nairaland person go do business is asking for premium tears

Here they come. Nuisance.

online4business:


Stop peddling these half baked ideas. Viewing centres convinent stores pepper soup joint will
Fold in less than a year.

Do you know how much it takes to pay workers or buy fuel?

You probably haven't run a successful business before you sound like professors who knows all the theory but can't practice or produce anything tangible.


Reason why businesses fail is employee and management.


You want to make profits as a business man what do you think your employee want to do?


Anyone that wants to succeed in the present day Nigeria must accept total control of their business

Control=responsibility.

Don't expect money from people because you gave them advice if them no give you it's YOUR FAULT.

you're supposed to charge for your services if there's no agreement then you don't have a case.

It seems that should not be the case but it's human nature...You don see thirsty goat wey drink water belle full still stand for river?

No they turn their back at the river and walk.

This is life eat or get eaten.

If you've idea put it to use angel investors no dey Nigeria... Them don die na shylock dey.

I'm number one shylock we buy assets that people want to sell cheap because we have cash.

Cash is king.

Here they come. I don't have your time.continue Nigeria is evil nothing works. Good luck with your thoughts

MarketDispatch:

It's not about setting up...it's about the staff and scammers that are ready and waiting to finish off the business for you without caring of it's growth and for this Tinubu's period, the finishing is better imagined

True

To be fair, one can make money in Nigeria. After all, amidst the economic crises, there are thriving businesses in the country. So, it is not all doom.

Wodu89 mentioned garri processing, which is fine. With additional capital and expertise, that can be replaced with a cassava flour factory, which has an enormous demand considering the price of wheat has soared since the war in Ukraine. With further capital and skilled expertise, it can be upgraded or replaced with an ethanol factory which uses cassava as raw material. Some of the issues we have with entrepreneurship are long-term capital and stability/ security.

jesmond3945:
buainess in an unstable economy? Do you know that other currencies are more valued in nigeria than the naira?

That is normal. I don't understand the desire for a strong naira most Nigerians have. A strong naira is only feasible with a small population. But as it is, we don't need a strong naira. That will skew investments negatively and increase unemployment because there would be no need/usefulness for foreign investors to set up factories in Nigeria and export. Factories are what Nigeria need.

The USD is stronger than most currencies in their home countries. So?

Do you know that nigeria is so dollarized that happenings outside the country affects it more than what happens inside?

How is Nigeria so dollarized when the legal tender is naira? Nigeria is not Ecuador or Namibia, where the Rand is also a legal tender.

Let me give you example. In uk, you can never bring any currency other than the pounds, if you do you would pay heavy price for it.

That is the UK's personal problem. Also, it is apples to oranges as the UK is a global economy, and the Pound is acceptable globally.

I thi k the govt did something like that but the black market in nigeria killed everything.

Largely because we don't export as much as we import. Also because the exchange rate has not been completely liberalised. The more restrictions on the exchange rate, the greater the need for black marketers. Additionally, the naira to dollar exchanged is affected by interest rates in the US. The Japanese Yen and South Korean Won have devalued within the past year due to the fluctuating interest rate in the US.

To show an example of how a weak currency aids export, check Japan. GDP grew more than 5% because there was an increase in exports and high inward tourist activities. The weak yen makes Japanese goods to be cheaper in the global market, thus, ensuring Japanese companies sell their products and repatriate their earnings back to the country.

Nigeria does not need a strong naira. It does more harm than good.

Do you know if i send money to nigeria you only receive dollars then the bank will now buy the dollars from you and give you naira. Is this not stupidity? Is this not killing the naira? How can you do business in such a climate

That depends on the medium you sent it. People send money, and their receivers obtain it in USD and go to Aboki for a better value. This is why the exchange rate has to be liberalised to make black marketers unattractive.

To diasporans, the best way to make your money, considering you are investing dollars or pounds, is into sectors or businesses which are export-oriented. In this way, your revenues are generated in dollars. To me, the real estate business most people plough their money generates losses because never has there been a time when the naira appreciated against the dollar. Investing in real estate should be for those who generate their earnings in naira. Alternatively, it only makes sense if you intend relocating to Nigeria to settle for life.

Wodu89:



Don't downgrade 6M. I'm sure you can't gift it out. With investment of 6M in ordinary polythene (nylon) retailing, after a year one would have made 300-500% ROI. The issues is people with capacity think some businesses are too dirty and do not think in the direction at all


6M can establish multiple pos centres


6M will setup multiple viewing centres


Drink depot's


Wholesale distributorship


Food joints or canteens


Pepper soup relaxation joint


Convenient stores

Etc

Apart from POS every other business will not succeed in this Tinubu era.
Na who get money dey go joint drink and eat fish.
Unless there is something like another MMM and people start seeing money without looking at government.
This period someone will come to ur joint drink coca cola for 7hours and watch the whole EPl matches.
In fact if u fail to subscribe to DSTV u won't see customers again.
Where is money to recharge

Wodu89:



Here they come. Nuisance.

Call it watever.This is a faceless forum,therefore giving money to someone u met here is a nono.I have lost money patronising a fake digital gallery guy here on nairaland.

bdon123:

Call it watever.This is a faceless forum,therefore giving money to someone u met here is a nono.I have lost money patronising a fake digital gallery guy here on nairaland.

I don't curse people. I'll just avoid you.

Wodu89:



As..

Bros, you said Seyi is using tax from okada and maruwa to pay teacher's salary?

So what about the monthly allocation the state receives from FG? Where does that one goes?

Abeg educate me o because that claim is outrageous!

---

Business dey sweet when you dey run am for mouth sha.

I pray to all who are involved that Nigeria will not happen to your business plans!🙏

Japa to go and do what?

If I have that amount, I'll start a clothing line like adire, ankara and similar native wears.. I can even get a fashion designer to be sewing them for export to other countries.

I'll look for something that tells the Nigerian story and start a business venture with it.. No be everybody wan go live inside cold or be living with fear of racists attack.

Styluss:
Which business can you do with 8 million? Can you help?

there are alot of businesses just find the one u are passionate with which you can thrive on

Wodu89:
Business. 6M can give birth to 60-100M in a year. I'm not sharing my Intel. And I'm not asking for investors. We dey build on a steady beat

E no easy as you dey run ur mouth o

Karleb:


Bros, you said Seyi is using tax from okada and maruwa to pay teacher's salary?

So what about the monthly allocation the state receives from FG? Where does that one goes?

Abeg educate me o because that claim is outrageous!

---

Business dey sweet when you dey run am for mouth sha.

I pray to all who are involved that Nigeria will not happen to your business plans!🙏

Smiles. Please yourself. Gotta work

Gerrard59:
To diasporans, the best way to make your money, considering you are investing dollars or pounds, is into sectors or businesses which are export-oriented. In this way, your revenues are generated in dollars. To me, the real estate business most people plough their money generates losses because never has there been a time when the naira appreciated against the dollar. Investing in real estate should be for those who generate their earnings in naira. Alternatively, it only makes sense if you intend relocating to Nigeria to settle for life.

not true. Then i better keep my money to myself, if the reason for investing in nigeria is to earn dollars. Afterall I am earning dollars so why put it in Nigeria in order to earn the same dollars with all the uncertainties of export market. This is why our currency is dying. We need need to promote our currency, thats the only way for it to achieve value.

jesmond3945:
not true. Then i better keep my money to myself

Or you invest it in the stock market wherever you live. However, a stock market is not a business enterprise compared to a factory. Alternatively, you start a business wherever you live. But if starting businesses in foreign lands is something Nigerian diasporans are good at, they should be rubbing shoulders with Indian and Pakistani billionaires in the UK. After all, there are almost a quarter of a million Nigerians residing in the UK.

In my opinion, the brain of a first-generation Nigerian migrant, especially the one who migrated as an adult, is not suited for entrepreneurship in developed countries.

if the reason for investing in nigeria is to earn dollars. Afterall I am earning dollars so why put it in Nigeria in order to earn the same dollars with all the uncertainties of export market.

Your money goes further, and you own an enterprise. Alternatively, do the aforementioned.

This is why our currency is dying. We need need to promote our currency, thats the only way for it to achieve value

But that is exactly the opposite you are advocating for. The only way for the naira to be strong (which is not good anyway) is for Nigeria as a country to export more goods, valued added, to the global market. Merely promoting the naira does not add value to it, exporting goods to other countries, getting paid in dollars and converting and spending it in Nigeria makes the naira to be strong.

Again, Nigeria does not need a strong naira. We are not Switzerland nor Singapore.

With that money, I am moving to Canada asap.

My problem is not only about the bad state of Nigeria, but also the wickedness of Nigerians. I believe 80% of Nigerians are wicked. Can't imagine raising a child among these barbarians.

Bimpe29:
Japa is the ultimate as you have one thousand and one reasons to justify it.

For me personally, I will undoubtedly japa and get a fresh air, reliable and secured livelihood in a saner clime that supports all manner of logical development devoid of agony and hassles as we have it here in Naija.

I pray and hope for better Naija but only God knows when that aspirations will come to fruition.

There is nothing like a better naija, neither will there be a better naija. This country's case is settled.

Wodu89:



I don't curse people. I'll just avoid you.

Why will u curse me,hav i cursed u?

Wickedfacts:


Who is this fool talking to?
Abi craze dey worry your mama.

Didn't you see where I said it is employees who are relocating? Or the fellow collecting 500k, is he not an employee?
By the way, If not that poverty is entrenched in your lineage, how much is 500k per month sef?
500k is what you see as big money. You're a failure in life.

Just so you know, some of us have businesses here and we can't fold ship and relocate. If we do, people like you will suffer.

I bought a business last year. Renewable Energy business. The owner relocated to Canada and his technicians were just going anyhow here. The turnover between June 1 and today is enough to pay staff salaries for next 4 years comfortably. Mind you, my regional solar engineers earn more than that 500k you are shouting.

Some people are destined to be slaves abroad and all their lives, they are destined to constantly go in search of slavery.

I strongly curse you

soccerlite:

I strongly curse you

I strongly curse your entire family. Wretched bastard.

ednut1:
If you are not business inclined or have run a business before you will surely fail and your 6m will vanish. Your will then go back to square one. People are talking about business person with 6m self dey talk 🤣

Even the 6m cant take you to any better country with the exchange rate.

boss, no mind all this mofos, nah whine them dey whine people for here just hear what's in there mind. I dey tell person for this platform say no be every body sabi this business, he dey tell me say shey me I no get OT for business ni, imagine talk. People wey there business crumbled no get OT for business abi?

nkemjacob2:
For me I don't see Japa as means of breakthrough. I would rather build a business. I know how poor the economy is but Japa isn't my thing

State your reason why you will Japa or build business

6 million is not enough unless you want to suffer. You people think there's money on the road to pick.

Wodu89:



Don't downgrade 6M. I'm sure you can't gift it out. With investment of 6M in ordinary polythene (nylon) retailing, after a year one would have made 300-500% ROI. The issues is people with capacity think some businesses are too dirty and do not think in the direction at all


6M can establish multiple pos centres


6M will setup multiple viewing centres


Drink depot's


Wholesale distributorship


Food joints or canteens


Pepper soup relaxation joint


Convenient stores

Etc

people funny, pos centres, viewing centres,

People shaa have poverty my mindset.

TheOldGods:
people funny, pos centres, viewing centres,

People shaa have poverty my mindset.

And that's why you invest in big businesses and cry for low patronage till you close up

Go to Chinese websites from Alibaba to Ali express. It's low priced products that sell the most. Nigerians and condemnation behavior.


I've lived from Abuja to finesse areas on the island. What I do to make money isn't my person. Now get lost

None bro, I'm in a fix, thinking of buying a car for my bro to start Uber and give me returns

nkemjacob2:
there are alot of businesses just find the one u are passionate with which you can thrive on

He lives in Abuja

nkemjacob2:
there are alot of businesses just find the one u are passionate with which you can thrive on

Wodu89:



And that's why you invest in big businesses and cry for low patronage till you close up

Go to Chinese websites from Alibaba to Ali express. It's low priced products that sell the most. Nigerians and condemnation behavior.


I've lived from Abuja to finesse areas on the island. What I do to make money isn't my person. Now get lost

lol. Low priced business sell most in China, what's the cost of living in China?what's Thier minimum wage? When people are crying to enter bus fares that was increased with just 100 naira extra, people are trekking and you're here talking. You think business is to look for cheap products and sell, lol. Ask yourselves why popular brands are living Nigeria to open business in Ghana. How many homes in Nigeria eat chicken every Sunday or even chicken every week, I'm sure you hardly do that. Try buying full chicken every week and eat first