lastmessenger:
The most important thing is that you did something. Stand up dust yourself and try again.

That is inspiring thank you very much.

Grupo:


Oops! Sorry about that.

Number one business rule in Nigeria: don't start a business you won't be there to manage. No one can manage your business like you.

That is why I'm more focus in TB,bonds, and the rest. My job takes one of my greatest asset in life TIME.

Step 1 write application letter to cbn governor want to operate a bdc step 2 35m refundable deposits (draft in favour of cbn Step 3 pay you application fees step 4 interim approval is out step 5 incorporate you company share capital 35m cost around 400k 5 join abcon association (not compulsory)6 inspector visit you designated office (keep entertainment money ) 6 final approval granted 7 you start bidding by wiring naira into your company account and collecting dollars next day and cycle continues

ahiboilandgas:
Step 1 write application letter to cbn governor want to operate a bdc step 2 35m refundable deposits (draft in favour of cbn Step 3 pay you application fees step 4 interim approval is out step 5 incorporate you company share capital 35m cost around 400k 5 join abcon association (not compulsory)6 inspector visit you designated office (keep entertainment money ) 6 final approval granted 7 you start bidding by wiring naira into your company account and collecting dollars next day and cycle continues

Thanks for this step-by-step breakdown.

Please, what sort of risk is involved? Do you have to renew your BDC license every year?

Top of my head, below is what I can think of:

Risks Involved:

1. Risk of armed robbers collecting your money
2. Risk of the dollar rate moving against you if you don't sell early
3. Risk of losing your license (??)
4. Risk of sourcing $ yourself if for whatever reason CBN decides to stop selling to BDC

any other risks?

I just need to get a clear picture of what one is up against

HeliosHay:


Thanks for this step-by-step breakdown.

Please, what sort of risk is involved? Do you have to renew your BDC license every year?

Top of my head, below is what I can think of:

Risks Involved:

1. Risk of armed robbers collecting your money
2. Risk of the dollar rate moving against you if you don't sell early
3. Risk of losing your license (??)
4. Risk of sourcing $ yourself if for whatever reason CBN decides to stop selling to BDC

any other risks?

I just need to get a clear picture of what one is up against

renewals is 250 k only and your 35 m is return back to u so u can used it as your capital ur need 7 .2 for bid.some keep 14.4 for 2 bid ...for arm robber u can finish your deal within the bank if u are comfortable with 3 naira margin but if u want 5 naira margin above u have to bring out the dollar and hit the streets

ahiboilandgas:
renewals is 250 k only and your 35 m is return back to u so u can used it as your capital ur need 7 .2 for bid.some keep 14.4 for 2 bid ...for arm robber u can finish your deal within the bank if u are comfortable with 3 naira margin but if u want 5 naira margin above u have to bring out the dollar and hit the streets

Thanks.

How often is the renewal - is it every year or after a set number of years?

ahiboilandgas:
renewals is 250 k only and your 35 m is return back to u so u can used it as your capital ur need 7 .2 for bid.some keep 14.4 for 2 bid ...for arm robber u can finish your deal within the bank if u are comfortable with 3 naira margin but if u want 5 naira margin above u have to bring out the dollar and hit the streets

Maybe because it's been long since you collected your own license... Getting it is now very very hard.. Infact money is the least of your problem.. Your application will go through several organizations.. EFCC included to make sure you pass the anti money laundery test

Sholapey:
Thank you for your email. Much appreciated sir!

Please , I am also interested . Can I send you an email?

Thank you so much Ahiboilandgas for opening many eyes, including mine, to these money making options.

I noticed that many of us have been asking questions about the BDC, perhaps because there was no picture of any losses on the business posted . I am a culprit too.

But then, how can one start trucking business; if you don't mind, could you please share your experience here? I'm sure you may still write a book on all these in the future "Building Millions in a sick economy; My experience" and you can always refer to this webpage in the book.

Apologies to those who may see all these as derailing the thread. We are only sourcing for more funds to put in Treasury Bills.

Thank you.

Sapeleboy911:

That is why I'm more focus in TB,bonds, and the rest. My job takes one of my greatest asset in life TIME.

Do you mind investing in business while we form a partnership and get monthly returns Sir? Check my threads, give me a call or let's talk on Whatsapp

Sapeleboy911:
My broda ask me again. On a serious note I I made some very bad investments. I invested almost a million naira in plantain farming and I left it in the care of a total novice, same with catfish farming. I learnt my lesson the hard way.

I can help revamp the plantain farm for you for free to rescue the image of we in food business. If you're interested let me, you'll only handle logistics. I'll work for free to bring the farm back to life

Etfash:
Thank you so much Ahiboilandgas for opening many eyes, including mine, to these money making options.

I noticed that many of us have been asking questions about the BDC, perhaps because there was no picture of any losses on the business posted . I am a culprit too.

But then, how can one start trucking business; if you don't mind, could you please share your experience here? I'm sure you may still write a book on all these in the future "Building Millions in a sick economy; My experience" and you can always refer to this webpage in the book.

Apologies to those who may see all these as derailing the thread. We are only sourcing for more funds to put in Treasury Bills.

Thank you.

trucking is capital intensive ventures ,u need around 10-12m to couple a 45000 litres truck ,then the truck will be registered under a multinational oil company to deliber product nation wide ....mobile NNpc mega ,nipco,MRS,total ,conoil onando ,forte oil are the main players but u can't get a contract with a single truck minimum fleets,10 but there is a way round it u can add your fleet to exiting contract owner and have a subcontract .get paid but it for strong men with good shock absorber but insurance always help out Lagos to kano is 19 x45000 =855000 ...deseal 1200 x215 loading expense 50000 net income is around 480 k per trip.. ..warning na strong men bussiness

Planet3xi:




I can help revamp the plantain farm for you for free to rescue the image of we in food business. If you're interested let me, you'll only handle logistics. I'll work for free to bring the farm back to life

Sorry I can't I've learnt the hard way. Based on your thread you've made business deal with 14 nairalanders. And your nairaland account was created few days back, how come?

Planet3xi:




I can help revamp the plantain farm for you for free to rescue the image of we in food business. If you're interested let me, you'll only handle logistics. I'll work for free to bring the farm back to life

Sorry I can't I've learnt the hard way. Based on your 2 threads you've made business deal with 14 nairalanders. And your nairaland account was created few days back, how come?
Real businessmen don't look for investors, it is the other way round. Let's not derail the thread please.

Sapeleboy911:

Sorry I can't I've learnt the hard way. Based on your 2 threads you've made business deal with 14 nairalanders. And your nairaland account was created few days back, how come?
Real businessmen don't look for investors, it is the other way round. Let's not derail the thread please.

The typical new generational thinking. Quick to judge before asking questions and analyzing facts and in trying to preserve scarce resources lose precious opportunities. My apologies for reaching across to you. Best of luck

Sapeleboy911:

Sorry I can't I've learnt the hard way. Based on your 2 threads you've made business deal with 14 nairalanders. And your nairaland account was created few days back, how come?
Real businessmen don't look for investors, it is the other way round. Let's not derail the thread please.

BTW Michael Dell looked for investors starting and expanding, same as Zuckerberg. Same as Dangote, Same applies to all companies that go to NSE. Its looked ng for funds albeit corporately. Let's not misuse the knowledge and education this new age provide skewing it with negative emotional reactions from past ventures went awry.


Well,I don't expect nor want a reply. Just want to avoid other innocent minds being misled

Please does anyone know how Stanbic IBTC Money Market Fund works? Is it the same as TB?

Barrytone:


please sir, what do u want me to explain further?
whatever generated the savings, is it a regular occurrence, if so, set a limit and save a compulsory amount to grow your capital. When I was in the streets, I made it compulsory to save 50% of my income and groove 20%, 30% for AOB. that 50% built me a house in few years after a failed electoral ambition. Till date I appreciate that building than any other one I have owned because it came from real street sweat. imagine I knew about tbills back then in 2006, I would be retiring now.

Thanks very much for the clarification.

I already do as you advise.. But I would reinforce the resolve.

Thanks again...

One more question sir,

Money market seem to generate as more interest as the TBill. I dont see any major difference apart from Tbills paying up from while MMF dont.

Can you give your opinion on which is better?

Apologies if I seem to be troubling you, just trying to help myself

Thanks in advance

temi4fash:


Thanks very much for the clarification.

I already do as you advise.. But I would reinforce the resolve.

Thanks again...

One more question sir,

Money market seem to generate as more interest as the TBill. I dont see any major difference apart from Tbills paying up from while MMF dont.

Can you give your opinion on which is better?

Apologies if I seem to be troubling you, just trying to help myself

Thanks in advance

it took me over 6months to understudy and commence tbills trading, I have not understudy mmf so cant advice. I invest on tbills monthly as I end salary then I use the upfront to survive so therefore I cant afford to tie down that upfront. just began understudying bdc biz. it seems cool, when am satisfied will delve to bdc. meanwhile there is a thread for mmf. locate the thread and read up. on apologies, I learnt a lot here and owe the house everything I know, someone answered my questions when I started. you are always welcome.

ahiboilandgas:
trucking is capital intensive ventures ,u need around 10-12m to couple a 45000 litres truck ,then the truck will be registered under a multinational oil company to deliber product nation wide ....mobile NNpc mega ,nipco,MRS,total ,conoil onando ,forte oil are the main players but u can't get a contract with a single truck minimum fleets,10 but there is a way round it u can add your fleet to exiting contract owner and have a subcontract .get paid but it for strong men with good shock absorber but insurance always help out Lagos to kano is 19 x45000 =855000 ...deseal 1200 x215 loading expense 50000 net income is around 480 k per trip.. ..warning na strong men bussiness

Thank you again.

What about these FMCGs, do they require as many as 10 trucks? Do you have any knowledge of trucking in that industry: payments etc?

Barrytone:


it took me over 6months to understudy and commence tbills trading, I have not understudy mmf so cant advice. I invest on tbills monthly as I end salary then I use the upfront to survive so therefore I cant afford to tie down that upfront. just began understudying bdc biz. it seems cool, when am satisfied will delve to bdc. meanwhile there is a thread for mmf. locate the thread and read up. on apologies, I learnt a lot here and owe the house everything I know, someone answered my questions when I started. you are always welcome.

Oh thanks... I appreciate..

I already studied the MMF thread and started with it..

Would keep studying TBill although I tried buying some using Wema Bank but they messed me up.. Told me they would get back to me but never did. I would just keep studying till I get it right.

Twale to you boss

Etfash:


Thank you again.

What about these FMCGs, do they require as many as 10 trucks? Do you have any knowledge of trucking in that industry: payments etc?

not deep but imperial logistic collect even 1 truck while kobo 360 lease like uber and pay around 1.5 monthly while u handle maintenance

habayommy:
Please does anyone know how Stanbic IBTC Money Market Fund works? Is it the same as TB?

https://www.nairaland.com/1912965/mutual-funds/

All answers are there...

If you have up to 100k, start treasury bills.
Then invest interest in MMF.
And when interest and further savings reach 100k, put it in Tbills again.

----------
Someone asked for the best tenure for Tbills.

If you have less than 1 million, you should use 6months or 3months,
So You can be adding previous interest plus new savings and grow you capital.

If you have more than 1 million.. Just rollover with interest yearly ... Till you tire... Lol


...............

Someone said he earns about 1 million yearly (100k/mo)
And haven't saved 100k... Very true!

I fell from that horse and landed BROKE to no job and no money, no wife, house, car or Investment.

I lost the last 50k in the MMM SAGA. (funny, it was gotten by selling off my laptop!)

... WELL I moved into a room, took a job of 25k in 2016.
Luckily, I came back to nairaland to seek for SAFE investments
And I discovered this thread again.

I did not have a dime after paying my rent then...
But I decided to start saving 15k from June 2017...

Opened an MMF account and grew my funds..
Now I am almost at 500k.

I never saved that much at my BIG JOB at any point.


I give God all the glory for his blessing to persevere and for keeping EMERGENCY spending out of my life since then!


YOU CAN SAVE 60% TOO...


Japan became great when youths started saving massively!
The video is on YouTube.. By visualpolitik

GOOD LUCK TO YOU


P. S: ahiboilandgas... Warn them in advance very well O!
Before they will come back here to spoil your name
because they could not survive the risk of those businesses.

Your shock absorber must be very very STRONG!

RealityShot:
https://www.nairaland.com/1912965/mutual-funds/

All answers are there...

If you have up to 100k, start treasury bills.
Then invest interest in MMF.
And when interest and further savings reach 100k, put it in Tbills again.

----------
Someone asked for the best tenure for Tbills.

If you have less than 1 million, you should use 6months or 3months,
So You can be adding previous interest plus new savings and grow you capital.

If you have more than 1 million.. Just rollover with interest yearly ... Till you tire... Lol


...............

Someone said he earns about 1 million yearly (100k/mo)
And haven't saved 100k... Very true!

I fell from that horse and landed BROKE to no job and no money, no wife, house, car or Investment.

I lost the last 50k in the MMM SAGA. (funny, it was gotten by selling off my laptop!)

... WELL I moved into a room, took a job of 25k in 2016.
Luckily, I came back to nairaland to seek for SAFE investments
And I discovered this thread again.

I did not have a dime after paying my rent then...
But I decided to start saving 15k from June 2017...

Opened an MMF account and grew my funds..
Now I am almost at 500k.

I never saved that much at my BIG JOB at any point.


I give God all the glory for his blessing to persevere and for keeping EMERGENCY spending out of my life since then!


YOU CAN SAVE 60% TOO...


Japan became great when youths started saving massively!
The video is on YouTube.. By visualpolitik

GOOD LUCK TO YOU


P. S: ahiboilandgas... Warn them in advance very well O!
Before they will come back here to spoil your name
because they could not survive the risk of those businesses.

Your shock absorber must be very very STRONG!

please can we talk on WhatsApp? i sent a pm already.

ahiboilandgas:
trucking is capital intensive ventures ,u need around 10-12m to couple a 45000 litres truck ,then the truck will be registered under a multinational oil company to deliber product nation wide ....mobile NNpc mega ,nipco,MRS,total ,conoil onando ,forte oil are the main players but u can't get a contract with a single truck minimum fleets,10 but there is a way round it u can add your fleet to exiting contract owner and have a subcontract .get paid but it for strong men with good shock absorber but insurance always help out Lagos to kano is 19 x45000 =855000 ...deseal 1200 x215 loading expense 50000 net income is around 480 k per trip.. ..warning na strong men bussiness

Na strong men business should be bolded.....E NO EASY LIKE THIS OOH.....

Ur driver can just decide to take a nap while driving....shikenA. 19m is bye bye. Insurance can dribble u out of any payments.

During scarcity ur truck can park for 2wks or more no loading..

SHORTAGE...SHORTAGE.....ahiboil knows the meaning, u load 45000litres and when discharged u see 44700 where did 300litres go. Either the driver has sold it or the receiving tank has a bad calibration. Who pays for the difference.(drivers salary no reach the value of 300l).

May ur truck not breakdown in the wrong place. E.g inside lagos(lastma will show u shege) or on a lonely bushy road around ogharra/warri axis....hmmm my dear u know the rest.

And when they write highly inflammable, they mean it.

Sincerely trucking has the worst ROI.....coupling a truck 12m , buying pdt 6-7m for a profit of 200-300k basic.

And b4 u do 50 trips u have changed tires and refurbished the engine. Not to talk of the B.P. it can cause....when u see ur drivers call.

The Risk to Reward ratio is poor.


Then BDC is not for everybody ooh, that it's working for Tom doesn't mean Jerry would survive it....it takes years to build a customer base that makes it lucrative. Like someone mentioned here , don't look at peoples harvest time without remembering the clearing, planting, watering, weeding /reweeding season

Oluwa will help us all but we have to calculate.

zamirikpo:


Na strong men business should be bolded.....E NO EASY LIKE THIS OOH.....

Ur driver can just decide to take a nap while driving....shikenA. 19m is bye bye. Insurance can dribble u out of any payments.

During scarcity ur truck can park for 2wks no loading..

SHORTAGE...SHORTAGE.....ahiboil knows the meaning, u load 45000litres and when discharged u see 44700 where did 300litres go. Either the driver has sold it or the receiving tank has a bad calibration. Who pays for the difference.(drivers salary no reach the value of 300l).

May ur truck not breakdown in the wrong place. E.g inside lagos(lastma will show u shege) or on a lonely bushy road around ogharra/warri axis....hmmm my dear u know the rest.

And when they write highly imflammable, they mean it.

Sincerely trucking has the worst ROI.....coupling a truck 12m , buying pdt 6-7m for a profit of 200-300k basic.

And b4 u do 50 trips u have changed tires and refurbished the engine. Not to talk of the B.P. it can cause....when u see ur drivers call.

The Risk to Reward ratio is poor.


Then BDC is not for everybody ooh, that it's working for Tom doesn't mean Jerry would survive it....it takes years to build a customer base that makes it lucrative. Like someone mentioned here , don't look at peoples harvest time without remembering the clearing, planting, watering, weeding /reweeding season

Oluwa will help us all but we have to calculate.

Nice one!

I like the way you highlight a lot of the negatives..helps to put things in perspective.

Please, what's the profit margin like for the trucking and the bdc business all expenses factored in? 10%? 20%, 40%? 50%?

The 200-300k profit you mentioned for trucking, is that monthly? Aside from the cost of the truck (12m if purchased outright), whats the sum total of other monthly expenses (fuel, driver salary, insurance, repair tires etc.)?

Can this trucking business be done with a leased truck (instead of buying outright)?

I would assume the BDC business has a higher profit margin (considering the overheads aren't that much)

Barrytone:


it took me over 6months to understudy and commence tbills trading, I have not understudy mmf so cant advice. I invest on tbills monthly as I end salary then I use the upfront to survive so therefore I cant afford to tie down that upfront. just began understudying bdc biz. it seems cool, when am satisfied will delve to bdc. meanwhile there is a thread for mmf. locate the thread and read up. on apologies, I learnt a lot here and owe the house everything I know, someone answered my questions when I started. you are always welcome.

Hello, pls can you walk me through on how to invest in Tb? Advisable amount to start with and best financial house to buy from? I'm really interested in it

[quote author=zamirikpo post=78722811]

Na strong men business should be bolded.....E NO EASY LIKE THIS OOH.....

Ur driver can just decide to take a nap while driving....shikenA. 19m is bye bye. Insurance can dribble u out of any payments.

During scarcity ur truck can park for 2wks or more no loading..

SHORTAGE...SHORTAGE.....ahiboil knows the meaning, u load 45000litres and when discharged u see 44700 where did 300litres go. Either the driver has sold it or the receiving tank has a bad calibration. Who pays for the difference.(drivers salary no reach the value of 300l).

May ur truck not breakdown in the wrong place. E.g inside lagos(lastma will show u shege) or on a lonely bushy road around ogharra/warri axis....hmmm my dear u know the rest.

And when they write highly inflammable, they mean it.

Sincerely trucking has the worst ROI.....coupling a truck 12m , buying pdt 6-7m for a profit of 200-300k basic.

And b4 u do 50 trips u have changed tires and refurbished the engine. Not to talk of the B.P. it can cause....when u see ur drivers call.

The Risk to Reward ratio is poor.


Then BDC is not for everybody ooh, that it's working for Tom doesn't mean Jerry would survive it....it takes years to build a customer base that makes it lucrative. Like someone mentioned here , don't look at peoples harvest time without remembering the clearing, planting, watering, weeding /reweeding season

Oluwa will help us all but we have to calculate.



Well explained

Baba as you have given negative pointers for those 2 business ideas, please can you share business ideas which are profitable in your own evaluation with the house [quote author=lancee post=78724081][/quote]

NwanyiAwkaetiti:
Hello, pls can you walk me through on how to invest in Tb? Advisable amount to start with and best financial house to buy from? I'm really interested in it

just walk into a Nigerian bank and ask for their tbills officer then request for tbills form, fill form and go home. deductions from your account will be made and interest paid. official minimum investment is 50m but the banks offer minimum of 100k, some 500k and some 1m, they gather the funds and present 50m to central bank. at this point you don't have right to choose a rate as u flow with bank rate unless u have the 50m then u state your rates which is used in bidding. you win or loose bids. on financial house, so many things are involved. proximity, customer relation and most especially good rates etc. any bank will do for a start. don't fail to go back and read previous pages before investing.

[quote author=lancee post=78724081][/quote]

Yes boss! This is the pure truth many still fails to accept, the fact that one person did and succeeded is never a guarantee that another person will do it and be successful. If another Person ventures into it all the money may go with it and the person will now start all over, imagine some one who wants to retire by 45 and went and do wrong investment cos others are doing it with 10m and he eventually loose all can the person retire again by 45 may be he was 35yr when it happened. I had a little experience. Thank God am back on my feet, I have learnt that slow and steady win the race when its time to diversify comes one we surely know and the resources would be there for u to see but one should never gamble with his first seed. Dangote said dangote group has a lot of money idle and they needed biz investment that can take care of the money that was why he went into refinery and dangote group alone put down $3billion for the project. I have wondered why he did not do telecommunications but he sticks to what he knows best he does not say cos Adenuga is successful he would go into it. Find and investment strategy sticks to it, be focus, be moving, be consistent and mark my words you would be celebrated soon.

Barrytone:


just walk into a Nigerian bank and ask for their tbills officer then request for tbills form, fill form and go home. deductions from your account will be made and interest paid. official minimum investment is 50m but the banks offer minimum of 100k, some 500k and some 1m, they gather the funds and present 50m to central bank. at this point you don't have right to choose a rate as u flow with bank rate unless u have the 50m then u state your rates which is used in bidding. you win or loose bids. on financial house, so many things are involved. proximity, customer relation and most especially good rates etc. any bank will do for a start. don't fail to go back and read previous pages before investing.

Seems easy. Thank you