PewpewS32:
Nairaland,

Yes, I'm Canadian looking to semi-permanently move to Nigeria for ministry opportunity.

Reading online tells me I'll be fine, but would love to hear a local perspective.

I'll be selling my home, vehicles, furniture... everything and starting over in Nigeria (Lekki, Lagos area).

Everything sold and done I would be coming with around N450,000,000.00 to N500,000,000.00. I know this is a lot in Nigeria. For real, I know. What I would like to know is let's say I don't make any money whatsoever, how long will that last after paying for a 3 bdrm house, car, furniture etc there? Believe me, here in Canada this isn't that much... it's not below poverty, but also not rich either. (Middle Class).

Where do I stand in Nigeria with this much?

Thanks,
Pewpew

martolux:
Going by the high rate of insecurity coupled with kidnapping we are currently experiencing, you may not last for a month before you get..... If you are lucky, the money should just be enough to pay for your ransom.

2aces:
Oga so far you still reside in this country, pls try add your own quota to sell her good sides, expecially to foreigners who have intensions of coming.
Rome was not built in a day bro, you don't see citizens of other countries spewing trash about their country to outsiders online like we Nigerians do on a daily basis, or you think they don't have internet too.
I have never seen a citizen of Niger, Chad and even congo with all their poverty, wars and under development come online to trash their country like this.
America wasn't built in a day, and as advanced as they are, they still face way more problems than us, and if the coin is flipped and our Naira overshadows the dollar, they will troop down here to work for us.

PewpewS32:
Nairaland,

Yes, I'm Canadian looking to semi-permanently move to Nigeria for ministry opportunity.

Reading online tells me I'll be fine, but would love to hear a local perspective.

I'll be selling my home, vehicles, furniture... everything and starting over in Nigeria (Lekki, Lagos area).

Everything sold and done I would be coming with around N450,000,000.00 to N500,000,000.00. I know this is a lot in Nigeria. For real, I know. What I would like to know is let's say I don't make any money whatsoever, how long will that last after paying for a 3 bdrm house, car, furniture etc there? Believe me, here in Canada this isn't that much... it's not below poverty, but also not rich either. (Middle Class).

Where do I stand in Nigeria with this much?

Thanks,
Pewpew

SoftHeart:
Please think very deep about this decision you're about to make, don't sell anything yet, probably come for a short visit first. Things are not how they seems to be. Except of course if God has instructed you to relocate to Nigeria, if not, think very deep before you leap.

Stay blessed.

bluefacealtima:
Oh! Glad you are coming here for ministry. Nigeria is a very interesting country to live. As far as there are people here, you will achieve your aim.
Looking at your budget and current realities in Nigeria, Lekki Lagos especially is an highbrow or expensive area to live but if that's where God sent you, it's okay. With the amount you mentioned in your post, you will still be fine for more than 10 years. Hoping that you will not be extravagant and you will not have any losses. But, be mindful that there are bad people everywhere, even in Rome and Saudi Arabia, so you got to be very discerning with the help of God, you will be fine and your mission will succeed in Jesus name

Chully01:
Lagos is still fairly safe especially lekki
You should last 15yrs with that money.
Wish u good luck

bluefacealtima:
Oh! Glad you are coming here for ministry. Nigeria is a very interesting country to live. As far as there are people here, you will achieve your aim.
Looking at your budget and current realities in Nigeria, Lekki Lagos especially is an highbrow or expensive area to live but if that's where God sent you, it's okay. With the amount you mentioned in your post, you will still be fine for more than 10 years. Hoping that you will not be extravagant and you will not have any losses. But, be mindful that there are bad people everywhere, even in Rome and Saudi Arabia, so you got to be very discerning with the help of God, you will be fine and your mission will succeed in Jesus name

martolux:
I think it's weakness of the highest order to deceive an innocent soul by saying it well when all is not well. You can stay optimistic all you like, a realist will always say things the way they are... I pray you or your loved ones will not be a victim of this before you understand the reality on ground. Righteousness exalt a nation....

PewpewS32:
Nairaland,

Yes, I'm Canadian looking to semi-permanently move to Nigeria for ministry opportunity.

Reading online tells me I'll be fine, but would love to hear a local perspective.

I'll be selling my home, vehicles, furniture... everything and starting over in Nigeria (Lekki, Lagos area).

Everything sold and done I would be coming with around N450,000,000.00 to N500,000,000.00. I know this is a lot in Nigeria. For real, I know. What I would like to know is let's say I don't make any money whatsoever, how long will that last after paying for a 3 bdrm house, car, furniture etc there? Believe me, here in Canada this isn't that much... it's not below poverty, but also not rich either. (Middle Class).

Where do I stand in Nigeria with this much?

Thanks,
Pewpew

PewpewS32:

Hmmm... the road is long before this would happen. 1-2 years. Doing due diligence. Not my first time in a country such as Nigeria. But thank you, sound advice to visit first. Something I am planning to do.

Pew

PewpewS32:
Nairaland,

Yes, I'm Canadian looking to semi-permanently move to Nigeria for ministry opportunity.

Reading online tells me I'll be fine, but would love to hear a local perspective.

I'll be selling my home, vehicles, furniture... everything and starting over in Nigeria (Lekki, Lagos area).

Everything sold and done I would be coming with around N450,000,000.00 to N500,000,000.00. I know this is a lot in Nigeria. For real, I know. What I would like to know is let's say I don't make any money whatsoever, how long will that last after paying for a 3 bdrm house, car, furniture etc there? Believe me, here in Canada this isn't that much... it's not below poverty, but also not rich either. (Middle Class).

Where do I stand in Nigeria with this much?

Thanks,
Pewpew

amdman:


Congratulations on the biggest move of your life. It takes boldness to respond to God's call and I have people that are in your shoes and looking to do something similar in the future.

Here's my best advice to you:

1. Rent a house in Lekki Phase 1. Do not buy one, at least at the beginning. You are a missionary and you need to keep your options flexible.

2. With your N500m budget, you can support yourself financially in perpetuity in Nigeria and will not need to work for money in the future. Here's how.

1year rent, solar system (for 24hr power supply), electronics, furniture and other household items - N15m

2018 - 2020 Toyota Rav4
2018 - 2020 Toyota Corolla (you need 2 cars in Nigeria if you are making the trip with your spouse

Buy both in Canada and ship to Nigeria. - N50m

Alternatively, if your vehicles in Canada are reliable, ship them instead. That would include your personal effects.

Relocation expenses - N5m

Living expenses for first year - N20m

Emergency fund in savings account - N10m

Total - N100m.

The balance of N400m can be invested as follows:

N100m invested in Federal.Govt of Nigeria Treasury bills and bonds

N100m invested in a Fixed deposit account with Stanbic IBTC Bank

N100m equivalent in USD invested in a Foriegn Currency Fund managed by Stanbic IBTC Assets Management

N100m invested in a Fixed Deposit Account with Access Bank or GTB

The above investments will yield annual interest of 12% - 18%. If we take 15% as the annual return, you will make N60m annually (or N5m monthly) on your N400m investment which would remain untouched and rollover from year to year. However, to slightly mitigate inflation, you may choose to draw only 10% and allow the balance to compound annually.

Putting your money in guaranteed investments allow you to focus on your primary mission.

Diversifying your investment into local and foriegn currency investments protects you from the risk of holding all your money in Naira.

May all your dreams come true.

akube34:
what do you mean semi permanently move

amdman:


Congratulations on the biggest move of your life. It takes boldness to respond to God's call and I have people that are in your shoes and looking to do something similar in the future.

Here's my best advice to you:

1. Rent a house in Lekki Phase 1. Do not buy one, at least at the beginning. You are a missionary and you need to keep your options flexible.

2. With your N500m budget, you can support yourself financially in perpetuity in Nigeria and will not need to work for money in the future. Here's how.

1year rent, solar system (for 24hr power supply), electronics, furniture and other household items - N15m

2018 - 2020 Toyota Rav4
2018 - 2020 Toyota Corolla (you need 2 cars in Nigeria if you are making the trip with your spouse

Buy both in Canada and ship to Nigeria. - N50m

Alternatively, if your vehicles in Canada are reliable, ship them instead. That would include your personal effects.

Relocation expenses - N5m

Living expenses for first year - N20m

Emergency fund in savings account - N10m

Total - N100m.

The balance of N400m can be invested as follows:

N100m invested in Federal.Govt of Nigeria Treasury bills and bonds

N100m invested in a Fixed deposit account with Stanbic IBTC Bank

N100m equivalent in USD invested in a Foriegn Currency Fund managed by Stanbic IBTC Assets Management

N100m invested in a Fixed Deposit Account with Access Bank or GTB

The above investments will yield annual interest of 12% - 18%. If we take 15% as the annual return, you will make N60m annually (or N5m monthly) on your N400m investment which would remain untouched and rollover from year to year. However, to slightly mitigate inflation, you may choose to draw only 10% and allow the balance to compound annually.

Putting your money in guaranteed investments allow you to focus on your primary mission.

Diversifying your investment into local and foriegn currency investments protects you from the risk of holding all your money in Naira.

May all your dreams come true.

PewpewS32:
Nairaland,

Yes, I'm Canadian looking to semi-permanently move to Nigeria for ministry opportunity.

Reading online tells me I'll be fine, but would love to hear a local perspective.

I'll be selling my home, vehicles, furniture... everything and starting over in Nigeria (Lekki, Lagos area).

Everything sold and done I would be coming with around N450,000,000.00 to N500,000,000.00. I know this is a lot in Nigeria. For real, I know. What I would like to know is let's say I don't make any money whatsoever, how long will that last after paying for a 3 bdrm house, car, furniture etc there? Believe me, here in Canada this isn't that much... it's not below poverty, but also not rich either. (Middle Class).

Where do I stand in Nigeria with this much?

Thanks,
Pewpew

PewpewS32:


Thank you! The numbers and confirming the numbers is important. I will be starting business' in Nigeria soon to lay foundation work for the ministry... the goal is to pay N. American wages in Naira to Nigerians through this business. Change has to start somewhere... There will also be N. American support from several churches who want to see God working in Nigeria.

Blessings.

Pew