I think you guys all really need to read this, it might help someone here to start his movement to financial freedom..

https://dwealthforum..com/2019/06/the-first-step-of-wealth-creation.html

freeman67:


While I will say it is depends on the area you leave or buy your stuff, if I am give the prices of these items based on where I stay I will say this particular statement is completely false. Where I leave, in town a 25ltr of Palm oil is sold between N11500-13,000. while in the suburban markets you can get it between N9500-10500. Also no local rice sells for N6500 around here not even for the 25kg bag... In the town markets, malls and stores it is sold between N16,000-N19000 while you will it is sold from N15,000.

sorry to coming, i just gave a friend 100k to start the red oil biz and the person told me they usually get it for 7k and sell it for 8k/25ltr at ikotunn market in Lagos

Exactly, i just bought $10,000 this morning i no want wetin Andy do to Anthony Joshua to happen to me.

ahiboilandgas:
Am increasing my dollar and euro position cos their has been rumours that the cbn want to float the naira for rate convergence and the Nigeria custom is using 323 now from 305....i don't want to be hit again like 2015......please be prepared ..........................

Good morning everyone. I was thinking about starting Tbills with 500k and then invest 30k monthly in MMF, but the current Tbills rate ain't favorable at all. Will it be wise to invest everything in MMF? Please I need your response ASAP.

my investments has been way off recently

chukzyfcbb:


I have not seen in any financial book or article where Tbills is called a lazy man business. maybe you are unhappy people now know more about Tbills that you are involved in than before. And yes I was still around when Tbills hit that low (it was around December January coz I was at first bank negotiating at the time)

Those that will do Tbills will keep doing Tbills, the risk is low, so yields should be low.

If you are feeling adventurous you can take it out and play in some other market. However don't call it the lazy mans business, its just a LOW RISK investment platform where you sleep without fear of bankrupt.

Nonetheless its good to diversify ones portfolio

how I go dey unhappy with a public info and investment ,when 5 trillion pension money is locked in fixed income

ahiboilandgas:
how I go dey unhappy with a public info and investment ,when 5 trillion pension money is locked in fixed income

That's another point. Can someone convert his pension money into any other investment?

logoscope:

I have a question oh.. Why will I invest at 11.55% for 303 days, when I can invest three times in a year at 10.00% for 72 days..

If you understand the calculations, u wl realise that u won't earn more,

ahiboilandgas:
Am increasing my dollar and euro position cos their has been rumours that the cbn want to float the naira for rate convergence and the Nigeria custom is using 323 now from 305....i don't want to be hit again like 2015......please be prepared ..........................

Continue buying the dollar na. That is what they want. By the time every body now has excess dollars and pounds stored up due to the anticipated float, then follows it with another wicked policy that will ban importation of say PMS which is the most volatile component of the economy, guess what will happen to the demand for the same dollars?

If you must buy dollars, buy it with sense. My 2kobo

DanXplore:


Continue buying the dollar na. That is what they want. By the time every body now has excess dollars and pounds stored up due to the anticipated float, then follows it with another wicked policy that will ban importation of say PMS which is the most volatile component of the economy, guess what will happen to the demand for the same dollars?

If you must buy dollars, buy it with sense. My 2kobo

wicked policey ban on pms importation ...really no futher comments

DanXplore:


Continue buying the dollar na. That is what they want. By the time every body now has excess dollars and pounds stored up due to the anticipated float, then follows it with another wicked policy that will ban importation of say PMS which is the most volatile component of the economy, guess what will happen to the demand for the same dollars?

If you must buy dollars, buy it with sense. My 2kobo

Ban importation of PMS?

Without any working refineries?

My Tbill is maturing next week, don’t know whether to resubcribe immediately or wait to see if there would be any increase in rates. Especially with this uncertainty of dollar!

Confused

ahiboilandgas:
wicked policey ban on pms importation ...really no futher comments

The guy has a point.He just gave PMS as an instance.... It's not necessarily that it has to be pms. And you know how tricky this govt can be

kisszhira:


The guy has a point.He just gave PMS as an instance.... It's not necessarily that it has to be pms. And you know how tricky this govt can be

What other ban can seriously affect dollar rate asides pms? I know rice is already banned

https://www.abokifx.com/news/cbn-injects-210m-into-forex-market-punch

CBN VS SPECULATORS Again ..lets see who will win ..CBN boast of 45B plus on her reserve , by the time people change 5 billion into our DOMI ACCOUNTS
Should in case T bills rate increases and the dollars isn't yeilding any profit maybe we go change am back again ..let see how far CBN can go

ahiboilandgas:
If naira is floated all our interest paid by cbn will be wipe out with minutes .....if it moves to 330 the black market will move to 380 ........please be prepared oòoooh

That's interesting.

Isn't the float supposed to be a good thing?

If the official rate (artificially managed by the CBN) is allowed to float freely and meet the black market rate (the equilibrium rate dictated by supply and demand) a single rate should be achieved...why do you believe the black market rate will move up to 380...in other words, find a new equilibrium?


https://www.youtube.com/watch?v=GHkzE-kCXCs

pls fellow investors,
I need gtb secondary rate for today asap. also does stanbic bank accepts tb and upfront reinvestment?

zamirikpo:
Pls can a kind housemate confirm that auctions would hold today.

Pls ooh....any news on today's AUCTIONS. Did it hold.

chigo4u:

Ban importation of PMS?

Without any working refineries?

The Buhari I know could do that. That nigga has no joy but I like him like that sha. As for the refinery issue, Dangote Refinery, the largest in Africa is expected to commence operations by 2020. It has one of the biggest Fluid Catalytic Cracking (FCC) unit in the world. The FCC is the heart of any working refinery. You know what that means. Is it a coincidence that this policy is being suggested as we approach 2020?

Banning was quite extreme on my part but notwithstanding, even if PMS/Petroleum products are not banned, what I am certain of is a heavy premium on importation of PMS that will force local patronage.

Nigeria's economy is very sensitive to the supply and demand of petroleum products. Once the apacity to refine petroleum issue is resolved, the other binding macroeconomic parameters may fall in place. E.g, polymer synthesis (like plastics), agriculture (fertilizer), power generation (e.g from local steam turbines, gas turbines, heat recovery stream generators), pharmaceuticals etc.

All these have the potential to offset our trade balance.

Buy dollars o, but buy and sell it with sense.

DanXplore:


The Buhari I know could do that. That nigga has no joy but I like him like that sha. As for the refinery issue, Dangote Refinery, the largest in Africa is expected to commence operations by 2020. It has one of the biggest Fluid Catalytic Cracking (FCC) unit in the world. The FCC is the heart of any working refinery. You know what that means. Is it a coincidence that this policy is being suggested as we approach 2020?

Banning was quite extreme on my part but notwithstanding, even if PMS/Petroleum products are not banned, what I am certain of is a heavy premium on importation of PMS that will force local patronage.

Nigeria's economy is very sensitive to the supply and demand of petroleum products. Once the apacity to refine petroleum issue is resolved, the other binding macroeconomic parameters may fall in place. E.g, polymer synthesis (like plastics), agriculture (fertilizer), power generation (e.g from local steam turbines, gas turbines, heat recovery stream generators), pharmaceuticals etc.

All these have the potential to offset our trade balance.

Buy dollars but buy with sense.

I agree 100%

It's not a matter of IF but WHEN

Dangote (and I presume a lot of other wealthy individuals in Nigeria) have invested a LOT in that refinery...they'll want to make their money back.

HeliosHay:


I agree 100%

It's not a matter of IF but WHEN

Dangote (and I presume a lot of other wealthy individuals in Nigeria) have invested a LOT in that refinery...they'll want to make their money back.

See, Dangote is not the Nigerian government.

He said he will start cement, he did.
He said he will start tomato paste, he started.
He said he will start sugar, he did.

Inspite of the prevailing conspiraces against crude oil, dangote wen ahead to set up a very gigantic refinery. Not only that, there are hundreds or even thousands of workers currently undergoing training. You think he is stupeed?

Now following Dangote's progression, are you really doubting that the refinery will soon be fully operational? I hope this addresses the 'when' of your comment.

DanXplore:


The Buhari I know could do that. That nigga has no joy but I like him like that sha. As for the refinery issue, Dangote Refinery, the largest in Africa is expected to commence operations by 2020. It has one of the biggest Fluid Catalytic Cracking (FCC) unit in the world. The FCC is the heart of any working refinery. You know what that means. Is it a coincidence that this policy is being suggested as we approach 2020?

Banning was quite extreme on my part but notwithstanding, even if PMS/Petroleum products are not banned, what I am certain of is a heavy premium on importation of PMS that will force local patronage.

Nigeria's economy is very sensitive to the supply and demand of petroleum products. Once the apacity to refine petroleum issue is resolved, the other binding macroeconomic parameters may fall in place. E.g, polymer synthesis (like plastics), agriculture (fertilizer), power generation (e.g from local steam turbines, gas turbines, heat recovery stream generators), pharmaceuticals etc.

All these have the potential to offset our trade balance.

Buy dollars o, but buy and sell it with sense.

Well let’s wait until Dangote refinery starts functioning but until then, I wouldn’t think it will be possible to ban importation of PMS. It will even shoot up dollar price than reduce it if done now because there would be smuggling. Just remember what happened to rice. It will only increase pump price and dollar price if it’s done. That’s what I think.
Also about Dangote refineries being the sole source of pms in Nigeria? Well lol

DanXplore:


See, Dangote is not the Nigerian government.

He said he will start cement, he did.
He said he will start tomato paste, he started.
He said he will start sugar, he did.

Inspite of the prevailing conspiraces against crude oil, dangote wen ahead to set up a very gigantic refinery. Not only that, there are hundreds or even thousands of workers currently undergoing training. You think he is stupeed?

Now following Dangote's progression, are you really doubting that the refinery will soon be fully operational? I hope this addresses the 'when' of your comment.

On the contrary, I'm not doubting that the refinery will be operational by 2020.

What I'm saying is that the government will push policies tailored to help him make back his money..there's also a lot of foreign investors and I dare say (money from wealthy Nigerian politicians) in that refinery project aswell. These people wield a lot of influence and they'll ensure that policies to perhaps ban PMS importation is pushed..or something similar.

So its not a matter of IF they'll ban PMS but WHEN

chigo4u:

Well let’s wait until Dangote refinery starts functioning but until then, I wouldn’t think it will be possible to ban importation of PMS. It will even shoot up dollar price than reduce it if done now because there would be smuggling. Just remember what happened to rice. It will only increase pump price and dollar price if it’s done. That’s what I think.
Also about Dangote refineries being the sole source of pms in Nigeria? Well lol

Well, I doubt Dangote alone could even satisfy the PMS demand in the south west. Nevertheless, the four refineries combined operating at full capacity with modular structures (may seem unlikely but still a possibilty) will significantly reduce demand for PMS. Note that we considered PMS alone and not other petroleum products.

HeliosHay:


On the contrary, I'm not doubting that the refinery will be operational by 2020.

What I'm saying is that the government will push policies tailored to help him make back his money..there's also a lot of foreign investors and I dare say (money from wealthy Nigerian politicians) in that refinery project aswell. These people wield a lot of influence and they'll ensure that policies to perhaps ban PMS importation is pushed..or something similar.

So its not a matter of IF they'll ban PMS but WHEN

The when is next year. I am patiently waiting.

ahiboilandgas:
are assumption based on fact or are u into trading or other bussiness .....hundreds of bussiness in Nigeria return over 50 percent per anum ...a 20 ft container cost around 14 m for sheda material in 100 big bale each bale contain around 50 pcs while a whole sale sale for a profit margin of 25 -30 k x100 bale which finish within 3 months max generate a profit of 2.5 m in 3 months

Oga I think you missed her point

deepwater:

Look at it this way instead

Tell me what business in Nigeria that would return an interest of 1m within 48hours after investing a capital of 10m and with 99.99% assurance of getting your 10m back in 364 days.

No shop rent, no transportation, no association dues, no feeding at work/shop expense, no nothing.


Do TBills at an advance stage, u will enjoy it.

My advice to young couples.

Forget flashy things, raise 10m, split it into 4 equal parts.
Buy Tbills with sense at good rates preferably every quarter. So u get returns every quarter

On no account should u touch that principal, every year reinvest it and take the interest to settle your needs.

That way you are already on FG payroll, that is how Nigeria social security works. You dont need to have an employment with FG before they pay your house rent or children school fees. All you may need is a bond or bill.

Buy that bill today

Chai, you get sense. Come make I wife you.

ahiboilandgas:
Tb is good if u are too busy to run an enterprise or have paid employment or capital is beyond the enterprise or trying to raise capital or planning retirement ...

Exactly.

OgogoroFreak:
Chai, you get sense. Come make I wife you.

Wetin she wan take an ogogoro drinker like you do?. You want person wen go dey carry you comot for gutter after you don drink ogogoro abi?.

Eggheads full here o...I am happy i joined this thread at the right but almost late time.

ahiboilandgas:
are assumption based on fact or are u into trading or other bussiness .....hundreds of bussiness in Nigeria return over 50 percent per anum ...a 20 ft container cost around 14 m for sheda material in 100 big bale each bale contain around 50 pcs while a whole sale sale for a profit margin of 25 -30 k x100 bale which finish within 3 months max generate a profit of 2.5 m in 3 months

yours above is correct, no doubts.
However, container dey fall for road, shop dey catch fire, lagos state government is notorious in relocating markets to another location after yuletide season, iyaoloja dey lock shop at will, customs don increase exchange rate the day before yesterday container dey high sea! importer don dey run around to look for more money to clear goods to avoid demurrage, landlord go increase shop let for trinity/berger cement/ijesha were u go offload.....


Gentle man walk into STANBIC buy NTB go house, 2 days later him get debit and credit at the same time. Him go sleep dey look una, dey wait for another 364 days.

If business sure pass, nobody go go school.

FYI, na we carry okrika from magazine enter badagry that year, government vex pack everybody go vespa. na so vespa market start.
Before u know, girls begin enter China go bring okrika everybody bone south korea. today everybody na importer for IG.
Business na for person wey don chop belleful, no be for struggling people. hence the high rate of start-up failure.
U never see gain, u reach house kerosene no dey to cook and u say u no wan touch capital, omo leave that thin.

Bottom line, we dont have enabling business environment yet. so avoid huge risk except u have access to huge bank funds.... last last na wetin close diamond bank be that.

if the business been pay well, people for return the money

TotoNaRubber:
Exactly, i just bought $10,000 this morning i no want wetin Andy do to Anthony Joshua to happen to me.

At what rate did you buy?