arent88:
please where did u get this payment with food model from, that u are always emphasizing on. because I don't know which part of the north practise that.

michaelogunleye:

And you would also get to sell the imported product at an higher cost because artificial scarcity would have been created, so who is the looser

MrMcJay:


For those buying properties in that Lekki area, particularly between Ikota and Sangotedo, there are a lot of Agric C of Os given for 20 or 30 years which are close to termination. In fact, there is one Budo Farm C of O that faced something similar. The problem is that those who held the Agric C of Os have resold to other persons who have now built. Because they saw C of O, they just bought the land and built, not knowing the difference between Agric C of O and other types.

Unfortunately, the government is not renewing these Agric C of Os, instead they are giving the parcels of land to new allottees which would now be residential C of Os. The new allottees are not those who bought from those with Agric C of Os, but the original landowners who the holders of the Agric CofO bought from. Those who bought and built with Agric C of Os would now have to face those issued new C of Os by the government.

In the end, they would be forced to pay Ratification fees to the holders of the new C of O. Ratification which would run into Millions of Naira.

MrMcJay:


Agric C of Os are also very much genuine, it's just that the purposes differ from that of Residential or Commercial C of Os. Once they tell a any property is covered by a CofO, try to check 4 things.

1. The propose of the CofO. It is usually written on the front page. Residential, Agricultural, Industrial, Mixed-use, Commercial or Utility.

2. The time span of the CofO. This is written inside the C of O, page 2 or 3. No CofO is issued for infinity and the longest time span is usually 99 years for Residential CofOs. While Agric C of Os have a short lifespan of about 15 to 25 years, others are for much longer.

3. Commencement. The time the CofO commences is very important. It is written on the front page of the C of O and determines when it starts and the remaining lease left on the land. If you get a C of O commencing from 1991 and to last for 99 years, it means it is to expire in 2090 and you have 70 years left on the lease.

4. Covenants. This is very important because these are the hidden clauses where the main terms of the grant are hidden. The conditions upon which the CofO are granted are written here and it is advised that you read them properly.

emmanuelewumi:



That is another trick used by Ikeja Electricity Distribution to rip off their customers.

It happened to me about 3 years ago, when we got a new manager for my area. They all have targets, they disconnected my power supply on a Friday even though I am on prepaid. When I went to their office on Saturday morning, I found out that this was done to about 20 of us. They claimed we by passed and also brought an accumulated bill of 450k to me. How can a pre paid meter have the old bill.

I sent a mail to Nigeria Electricity Regulation Council Abuja, wrote the CEO of Ikeja Electricity and the top management, my power supply was restored within 48 hours, NERC forwarded a copy of query they sent to IKEDC to me. The lady ie new manager was transferred from Ajao Estate to some where at Ikorodu...


IKEDC marketers and manager are not happy with people using pre paid meters and are trying to frustrate them

oludy:


Daily online redemption from last week Thursday would still not achieve the target amount and will also be impacted by the holidays. The best option was the paper redemption. We will see.

unite4real:


There is nothing like getting fully prepared here. This thing no be war o. Lol

I have been down this road 2017 and 2018. This is the third issue.

If u must know, 90% of bank workers don't have this knowledge that many are dishing out here. If the bankers have such knowledge, there won't be need for such a forum. It would have been as straight forward as opening a savings account. This is investment we are talking about. A lot of guys here have gotten knowledge from experience and I think it is worthwhile to follow their footsteps. I have learnt a lot here and whenever I walk into a banking hall, I relate with them like a pro.
The first time I walked into the bank to buy TBills, they didn't know what I was saying and we're telling me to do fixed deposit

ojesymsym:
Just curious, do those who do phone business make profit? Because I know people don't change phones everyday, one person can use a phone for more than 2 years.

emmanuelewumi:


They make big money

ojesymsym:
I find that strange, perhaps the money is in the accessories.
If I were consulted to do a business analysis for it, I would have given it a poor mark.
Lots of people tend to only change their phones when their old phones are faulty, Typically, that is every 3 years. Of course there are people who buy when the latest phones are out but they are in the minority. Then there is the fact that there is a lot of competition.
I do find it strange even though I believe you, I can understand the reason why this is so.

ojesymsym:
I find that strange, perhaps the money is in the accessories.
If I were consulted to do a business analysis for it, I would have given it a poor mark.
Lots of people tend to only change their phones when their old phones are faulty, Typically, that is every 3 years. Of course there are people who buy when the latest phones are out but they are in the minority. Then there is the fact that there is a lot of competition.
I do find it strange even though I believe you, I can understand the reason why this is so.

unite4real:


Hope u were able to redeem in due time

ojesymsym:
Fellow investors, I just played around with some calculations and I was shocked by the simplicity and result.

Assuming I am a civil servant and decide to commit to save 10k (ten thousand naira only) every month, at the end of the year I will have 120k (one twenty thousand naira) only. Assuming I decide to invest that money on a 10% investment per annum without stopping the 10k per month savings, that at the 35th year, around the time I am retiring I will be worth around 30 million?

With that kind of money, what is your business whether government or pension funds paid your gratuity or not. Just 10k a month o, not 20k not 100k not 1 million, just 10k, it is just crazy.

See attached sheet for details

I find the values difficult to believe, can someone else also do the calculation and confirm I did not make a mistake.

Sholapey:
Oh my God! Some tenants are terribly wicked. Okay, I will send someone to inspect mine too because I don't trust these tenants they can do and undo...thanks for the information.

oludy:


The power of compounding and patience. It's mind blowing.
I verified this using an online tool.

Thanks for this.

ojesymsym:
Fellow investors, I just played around with some calculations and I was shocked by the simplicity and result.

Assuming I am a civil servant and decide to commit to save 10k (ten thousand naira only) every month, at the end of the year I will have 120k (one twenty thousand naira) only. Assuming I decide to invest that money on a 10% investment per annum without stopping the 10k per month savings, that at the 35th year, around the time I am retiring I will be worth around 30 million?

With that kind of money, what is your business whether government or pension funds paid your gratuity or not. Just 10k a month o, not 20k not 100k not 1 million, just 10k, it is just crazy.

See attached sheet for details

I find the values difficult to believe, can someone else also do the calculation and confirm I did not make a mistake.

ojesymsym:
Jeez, it's crazy, that means if a man decide to start paying 10k into an investment every month with a 10% per annum as soon as a child is born, he can hand over 20 million to the child on his 30th birthday.

NL1960:


It is true now. I have told many people this but they do not believe.

Btw, i have a monthly standing order on my account for my two kids. The monthly transfer to their account has never failed because i ensure money leaves my account first at month end to theirs before anything. This has been on since the day they were born. One is 13+ now while the other is 11+. No need to mention the monthly amount but it is more than 10k monthly.

ojesymsym:
Fellow investors, I just played around with some calculations and I was shocked by the simplicity and result.

Assuming I am a civil servant and decide to commit to save 10k (ten thousand naira only) every month, at the end of the year I will have 120k (one twenty thousand naira) only. Assuming I decide to invest that money on a 10% investment per annum without stopping the 10k per month savings, that at the 35th year, around the time I am retiring I will be worth around 30 million?

With that kind of money, what is your business whether government or pension funds paid your gratuity or not. Just 10k a month o, not 20k not 100k not 1 million, just 10k, it is just crazy.

See attached sheet for details

I find the values difficult to believe, can someone else also do the calculation and confirm I did not make a mistake.

yazga:

Facator n the following
Children
wife
Dstv Bill
Fuel for car and house
other miscellaneous exp

yazga:

Facator n the following
Children
wife
Dstv Bill
Fuel for car and house
other miscellaneous exp

NL1960:


It is true now. I have told many people this but they do not believe.

Btw, i have a monthly standing order on my account for my two kids. The monthly transfer to their account has never failed because i ensure money leaves my account first at month end to theirs before anything. This has been on since the day they were born. One is 13+ now while the other is 11+. No need to mention the monthly amount but it is more than 10k monthly.

ojesymsym:
This is a far better father than the ones who think organising birthday parties are more important than investing in the future of their kids.

I hope the kid's money goes into a mutual fund that grows and not just a static account, that is when it will really have the power of compounding.

I used 10k so that people don't assume that they must have big money before they start. When you think of 10k per month and then 120k per year, the first temptation will be to ask "how many years person go save jo" until you really punch the numbers.

Maybe if it is presented in this way, more people will appreciate it, although I know that by the 6th year, many people will withdraw the money, that I am sure of.

Crazeworld:
Sir are those accounts also giving at least 10% per annum?

Donsheddy:



Lemme chip in a bit...

Let's assume your salary is 100k...

And you loose your job and got a new one that pays you 70k or 80k...

Are you trying to tell me you won't survive...

What I'm saying is if you earn 100k and you really need to get this done...
Just zero your mind and assume you earn 90k...
Make all your plans on 90k...

9jatriot:
Are you suggesting that 10k per month is impossible? Assuming we start by removing that DSTV expense?

creategist:
How do I attach o? It is not attaching.
Effective Yield For 180 Days: 4.8-5%
Discount Rate For 180 Days: 4.689%-4.8797%

Which one should concern me please?

Theconglomerate:
Dangote has a lot of advantages which might make his cost of production less than that because he won't save expenses only on logistics.
1)Economies of scale.We are talking about the largest single owned refinery in the world here so cost of production of dangote and India can never be the same.
2)logistics cost he is going to save by not importing like you say,money for shipping and custom.
3)Labour;He is going to get a lot of cheaper labour than western counterparts.
4)foreign exchange difference in expenses is going to save him a lot of money as almost all of his expenses is going to be done in naira.
There are rumours and talks that dangote is even going to buy crude in naira sef as we speak.I trust my sources.

But dangote being a capitalist will want to take advantage of subsidy to hike pricing so that government will still pay him that subsidy money through NNPC buying from him at high price.

The only thing they can do to shock him and make him sell according to how he produce is still allow import open and modular refineries too so that his true cost of production and selling price will be exposed.
Else they are breeding another fraud and one man enrichment in the making.