₦airaland Forum

@ Olodostein, I don't need to engage in a war of words with you to make my points valid. I think that this will be very unruly and unprofessional.

This said, I can say with all humility that I was privy to have access to info on the above mentioned because I work with a private equity firm here in NY that has partnered with the promoters from Nigeria. These malls are constructed on a "build operate and transfer" business model whereby ownership of the shops and other rental spaces is transfered to the occupiers after a period. This is similar to the govt stall allocation scheme but with more transparency because in this instance, you don't have one person allocating half of the rental space to him/herself just because they know "somebody in power". Allocation is based on a free and fair process and occupiers have to play by the rules or risk losing their rental space hence the reason why standards have not fallen.

Your comment on cashless economy is a deviation from the topic but permit to say that the era of "brick and mortar" banking is obsolete and we need to accept this hard but factual truth, migrate to a cashless economy if we as a nation want to be ahead of the learning curve and more importantly if we are to compete globally. I have posited earlier that we are not yet "out of the woods" hence the process won't be without its own challenges.


On a lighter note you and I don't need to put on "fresh cologne" just because we paying a visit to the mall, it is just a regular "run of the mill" shopping space. This is part of the "emancipation from mental slavery" that I mentioned earlier. You can simply go there for some "sight seeing and window shop" if you like. Trust me nobody will harass you.

P.S I presume you are in our blessed country Nigeria? Don't you think that beans and agege bread (don't get me wrong, I love these two delicacies) is rather a "heavy meal" to consume at this time of the night? Just a suggestion.
God bless Nigeria!

Definition of 'Short Selling'

The selling of a security that the seller does not own, or any sale that is completed by the delivery of a security borrowed by the seller. Short sellers assume that they will be able to buy the stock at a lower amount than the price at which they sold short.



Selling short is the opposite of going long. That is, short sellers make money if the stock goes down in price.

This is an advanced trading strategy with many unique risks and pitfalls. Novice investors are advised to avoid short sales.

Definition of 'Hedge Fund'

An aggressively managed portfolio of investments that uses advanced investment strategies such as leveraged, long, short and derivative positions in both domestic and international markets with the goal of generating high returns (either in an absolute sense or over a specified market benchmark).

Legally, hedge funds are most often set up as private investment partnerships that are open to a limited number of investors and require a very large initial minimum investment. Investments in hedge funds are illiquid as they often require investors keep their money in the fund for at least one year.



For the most part, hedge funds (unlike mutual funds) are unregulated because they cater to sophisticated investors. In the U.S., laws require that the majority of investors in the fund be accredited. That is, they must earn a minimum amount of money annually and have a net worth of more than $1 million, along with a significant amount of investment knowledge. You can think of hedge funds as mutual funds for the super rich. They are similar to mutual funds in that investments are pooled and professionally managed, but differ in that the fund has far more flexibility in its investment strategies.   

It is important to note that hedging is actually the practice of attempting to reduce risk, but the goal of most hedge funds is to maximize return on investment. The name is mostly historical, as the first hedge funds tried to hedge against the downside risk of a bear market by shorting the market (mutual funds generally can't enter into short positions as one of their primary goals). Nowadays, hedge funds use dozens of different strategies, so it isn't accurate to say that hedge funds just "hedge risk". In fact, because hedge fund managers make speculative investments, these funds can carry more risk than the overall market.

(Culled from Investopedia)

werepeLeri: and we celebrate when Nigerians run out of Nigeria and foreigners come to Nigeria to reap where Nigerians have fled. Simple.

Spot on! God bless you for this insightful comment! Most people would prefer to be where they are accommodated rather than be where they will be celebrated!

We Nigerians don't appreciate anything "Nigerian", yet we are quick to draw quick comparisons or make spurious analogies along the lines of "in the developed nations or back in the US or Britain"!

The proliferation of shopping malls if I may call it that is a huge milestone for us because I do know and to the best of my knowledge that, the financing for such (esp. Palms and Polo et al.) was structured and originated by PE firms Nigeria which is a huge milestone within the investment management space in Nigeria and sub saharan Africa.


Also, most of the goods sold hitherto in these malls esp. shoprite and the game passes through a 'suppy chain' system that favours the Nigerian supplier. Thus they might not be produced in Nigeria but at least they are supplied by Nigerians. The palms currently employs over 1000 people and yes they might pay below average wages but hey how much does the almighty Tesco, Sainburys, Walmart and other which we all adore pay? For those asking for self checkouts pls how many of these aforementioned have in all their locations except for those in the city centre? More so, you will agree with me that those machines were not installed from inception.

We have a lot to learn no doubt and our great country is plagued with a lot of teething problems which makes it almost impossible to have a long term focus in mind but we need to stop the name bashing! If we are complaining of 'consumerism' in Nigeria,what then about the USA and other parts of the West where life is backed up and fuelled by credit card debt, where people have a 'shop till I drop mentality! At least people spend hard cash in Nigeria (ill gotten or otherwise!) and not piling it up on some plastic card! The CBN wants to introduce cash-less economy which a lot are kicking against, yet we are screaming blue murder due to lack of self checkout machines, when common sense should tell us that the former would precipitate the latter!

As Bob Marley rightly said we need to "emancipate ourselves from mental slavery". No matter the amount of qualifications we garner or exposure we have, we will always lag behind if we don't free ourselves. God bless Nigeria!

I think that it is unfair to hold Dangote responsible for the spate of events in the North. What about the politicians who have mixed politics with religion? I have noticed with dismay how we all feel that we are entitled to a 'priviledged right' but are quick to forget that such comes with a greater responsibility. The problem in the north is the outcome of years and years of brainwashing by the northern elites who have used religion as a tool to confuse and mislead the masses. It beats me that in this age and era people are still marrying 4 wives and giving birth to 30 plus children when clearly some of these folks don't even have the mean to raise a family of four! Will you blame dangote for this too? What is required is a change in our mind set. God bless Nigeria!

I think the only thing that can put an end to this is for d'banj to prove that he is the 'entertainer' that he claims to be. Let him release another album on his own without help from don jazzy and nor remixing any of his old songs. Listened to the interview,this JJC guy dey vex no be small. There is no smoke without fire.

I think that enough has been said on this issue. However, we may never know that real story until both parties do what I will call a 'tell it all'. This however looks impossible at the moment hence we will have to be content with all the conspiracy theories herein. I have spent a greater part of my time in London and it is a city located in the belly of the beast. There are a lot of artistes still trying to break into the main stream there so in my own opinion and making an inference from D'banj's assertion he has just joined yet another race in the belly of the beast. I see also that a lot of posters here have drawn up some spurious conclusions and believe without doubt that one single that has not entered the billboard top 100 singles or any other music chart will automatically provide a leeway for D'banj to conquer the world. It may in the future so let's wait and see. I also don't blame Don jazzy for not being a 'risk taker' (if that is the reason for the split) I would also in my opinion put a lot into perspective before 'jumping ship' because of a record deal. Both parties had a precedence and history has it on record that they were living hand to mouth in London before their breakthrough. I don't think it would make any business sense to to relocate when the structure to build a brand is not on ground. This is akin to telling an established mogul like Dangote to shift base and leave everything be because of the situation in the country. I am still happy though that history has been made but I am yet to know if Don Jazzy is also signed to the GOOD music label if yes then at some point they will have to work together so why all the rift in the first place? P.S Estelle is not the only artiste that abandoned an established fan base to take risk as indicated by one poster. Jay Sean a third generation briton of indian ascent also did the same and signed with cash money the rest is history

It pains my heart that the duo of D'banj and Don Jazzy are no longer a team. I however don't ascribe to the numerous interviews filled with varying contradictions that D'banj has granted since their infamous split. He should concentrate on his new found fame and make the best of it while it lasts. I also don't buy this idea of him saying that 'he bought this and bought that'! If the recent interview is anything to go by, Mohits is jointly owned so is he saying that other artistes on the label were just parasites living of his largese? My respect for Don Jazzy has grown significantly because he has displayed some level of maturity and I hope this will be a steep learning curve for other Nigerian artistes that wish to sign on to an international label. There are many versions to the split. One school of thought connotes that the rift was caused by differences on how to share the $3 million sign on fee,another states that it was as a result of D'banj's high handedness which reached a boiling point with the Kanye deal and total disregard for other label mates speaking of which his feud with Ikechukwu comes to mind. For those who are saying that D'banj will conquer the world, bear in mind that the entertainment industry there is much more sophisticated that what obtains in Nigeria. It is only in Nigeria that you will put together a bunch of incoherent syllables,call it an album,put it in the market and make money. Abroad you will be subject to the opinion of music critics that will give their take on everything from lyrics to album cover. More so who buys albums these days when you can download for free on some sites and a whole album on iTunes cost less than a dollar in some cases! So I doubt if he will make money from albums sales as predicted. Most international acts make money from shows and tours. chris brown, lady gaga, jay z and kanye's watch the throne tour are good examples to cite in this regard. I doubt if D'banj can pack a stadium full of fans overseas unless he is a supporting act for another artiste. Why leave where you are celebrated to where you will be accommodated? No doubt, the deal with GOOD music is a welcome development but throwing away the 'dirty water and the baby away at the same time raises some vital questions about loyalty. I wish the both of them the very best in their future endeavours!

Talk is cheap. Why are people calling for NOI's head? She became minister for finance for a second around July 2011 and didn't even settle down to face the task ahead because of she was accused of one false allegation or the other and I can still recall the names or aliases of some NLders who jumped on the band wagon and were screaming crucify her crucify her. Whilst on the other hand, the subsidy probe under investigation is from an earlier period. More so why are we requesting for a reversal in pump price when that is what paved way for the fraud in the first place. First law of Economics states that there is no such thing as a free lunch because somebody somewhere will pay for it. For those still in the dark and I want to assume that a lot of us are it is alleged that some of these marketers brought in tankers of water passing it up for fuel whilst some were rounding tripping hence the in ability to actually estimate our daily average consumption. The decision to sack the accounting firms and set up commitees made up of technocrats that know and understand how the business works is a step in the right direction. The era of political appointees occupying sensitive positions in this country should no longer be encouraged. People that are capable of performing on the job with a precedence should be allowed to do so. Finally for those calling for a reversal in pump price, bear this in mind, Nigeria is a member of OPEC and selling at the prevailing international market price is maybe the only solution to this subsidy scam without any government intervention. God bless Nigeria

There are two sides to the article published herein. There is a difference between having an education and being educated. First and foremost, studying abroad is maybe the easiest route to obtain a visa to the US. once most people are in, they try everything possible to stay put, I am not trying to generalise here but a lot prefer to stay under the guise of acquiring more degrees. So people keep piling up certificates.
thus you come across Nigerians with pockets of degrees without any coherence in the sequence that such degrees are obtained.
Education is a profitable sector in the West and they have so structured it that most end up with a catch 22 situation. I ran into a fellow Nigerian whose taxi I boarded enroute work in NY,he is a Phd student who has delayed the submission of his final thesis just to remain in the US. When I asked him about his post Phd plans he simply relied thus Bros na to go for another qualification because na the only way to remain here be that. God bless Nigeria!

The deal is a step in the right direction. I just pray that it is not politicized like most capital projects we have embarked on in Nigeria. No doubt, GE is one of the best firms in the world and they have participated in a lot of seminal transactions in many countries. The power project embarked on by Obansanjo's regime would have seen the 'light of the day' if the aforementioned issue( politics) had been left out of it.

God bless Nigeria!

mickey jag:
Unlike the West who printed money to expand an unsustainable consumerist culture and gave banks money for nothing, China used quantitative easing to build its infrastructure, the wisdom of which is illustrated by her new standing in the world.
Furthermore, China did not waste trillions of dollars invading Afghanistan and Iraq.

That is why the Chinese economy continues to grow, and it is why it will continue to grow.

China is the number one superpower in the world and has learned from the avoidable mistakes that have been made by western countries.

So, in the final analysis, the Chinese Communist Party has outwitted the fat and greedy British and American bankers.

The European Union have been reduced to travelling to China with their begging bowls, begging the Chinese Communist party to bail them out http://www.dailymail.co.uk/news/article-2054138/EU-goes-cap-hand-China-asks-wealthy-communist-regime-invest-European-government-bonds.html.

China is in charge now.

China calls the shots.

China wants to see the West on its knees. It wants to see the US slash its military budget and therefore reduce its military hegemonic grip on the world. It wants to see US aircraft carriers withdrawn from its territory.


The West is finished. They are hanging onto the reputation  received during the industrial revolution, which is wearing thin very quickly.
In addition, they has nothing new to offer to the world, so it will continue to lag behind. This is mainly due to;

A huge debt crisis- something approaching £50Trillion-most of it wasted on the bloated parasitocracy of Government and the EU, on buying assorted Chinese tat, and keeping the benefit addicted inhabitants of the sink estates glued to “X-Factor”.

Massive offfshoring of the Manufacturing Sector-the economy is reliant mostly on the Ponzi Scheme of the “Financial services”- , Tesco, Cadbury’s and Walker’s crisps,

Rising unemployment;

An increasing population driven by unfettered immigration;

A failing education system, etc etc.

On 1st Sept. 2010, the IMF published a paper on the "long term" outlook for Western countries.

You need not read the whole damn thing, just scroll to PAGE 18 and see the graph of expected public debt by 2030 which is just 2 decades away.

Therein, you will see the end of all Western States not only today, but, in history as we saw with the Roman Empire.

http://www.imf.org/external/pubs/ft/spn/2010/spn1013.pdf


If these fundamental, structural problems are not sorted out, then I am afraid the West is in for a long period of decline.

You have used the term 'Quantitative Easing' loosely and in the wrong context. I repeat, China has not in any way used 'QE' to consolidate her infrastructure. I suggest you do some research on what the term QE depicts and how it is used, so that you don't 'misinform' people on this domain.

No doubt, China is now a force to reckon with but  bear in mind that the gradual decline of the political and economic ideology of the 'West' is also a source of concern for China because the growth China has witnessed in recent years is as a result of the 'consumerist mentality' of the West-a trend that is now an economic pandemic in Africa. Hence, the reason for the unprecedented influx of Chinese firms into Africa especially Sub Sahara Africa.
Further more and contrary to your assertion, China has in recent times witnessed an unprecedented slow down in growth and they have also downgraded their GDP growth forecasts in the near term as a result of this.

We need to provide a well balanced analysis of world events without any form of 'bias' because the world is now a global place. Things don't happen in isolation. China has agreed to commit to the new bail out package towards the Eurozone debt and even consented to write downs in existing debt obligations due from the 'West'.

Additionally, you are right that the West is  in gradual decline but your analogy of the Roman Empire and the West does not add up because if the 'West sneezes right now even in her debt ridden state, China will catch cold'.

Finally and back to the topic, is investment in the Chinese yuan , a good diversification strategy in the near term for Nigeria, the answer is no for several reasons, some  of which are included herein below

Nigeria is a dumping ground for most 'made in China products', the medium of exchange is currently the dollar not even the yuan thus our currency will still be subject to the dictates of global events surrounding the dollar.
This is also one of the main reasons why we cannot have a stable fiscal and monetary policy that would precipitate the sustained growth of the Nigerian economy because our country is just a 'point of transit'

Secondly, China is the largest holder of debt instruments from the West- these debt obligations is what the west has artificially used to create more credit for the consumers via financial institutions and coordinated by their central banks to keep market interest rates at a specified target value hence ensuring that their 'consumerist mentality' is maintained even in the midst of economic uncertainty and high unemployment rates and by the way this is 'QE' defined in lay man terms! In a nutshell, China will continue to devalue its currency to attract more growth thus making investment in their currency a bad move!

I will say this again, why now invest in gold bullion? The so called 'West' has the largest reserve of gold bullion which the best hedging and diversification strategy in this uncertain times

God bless Nigeria!

A lot of analysis has been provided herein and I have also seen an attempt at estimating the FV of proposed investments which is slightly correct.

However, there are certain factors we need to consider. China's growth is largely driven by the mentality of 'relentless consumerism' predominant in the 'West, Europe and recently Africa'. Further more, this mentality can only be maintained if their currency is devalued. No doubt, diversifying is a good investment move but, if the plan is to hold Chinese currency as a hedging strategy against the volatility of the dollar then, it is a bad move which might not achieve the expected result.

Investment decisions should not be based on ''sentiments or 'anticipated heresay'. Such will be akin to gambling or taking huge bets with the nation's foreign reserves. As one poster rightly mentioned 'Economics and Politics' don't go hand in hand.

May God open our eyes of understanding

God bless Nigeria!

P.S Food for thought. USA is the largest 'debtor nation' yet they hold the largest reserve of Gold bullion. Remember the ideology of 'Other Peoples Money'?

China is the largest holder of US treasury bills yet they continually devalue their currency to encourage exports

The truth is that the move is a good investment strategy in 'theory', i.e.  if Nigeria has some sort of relevance in international trade finance. Unfortunately, our great country doesn't,we are just a dumping ground so the decision will not in any way add any real value to our external reserves in the long term.

I would suggest investment in 'gold bullion' as a good 'hedging' strategy

God bless Nigeria!

AjanleKoko:
Go and teach, or work in an educational organization as a school administrator.
I'm not trying to be sarcastic here. Go and get work experience. There are tons of private schools in Nigeria, and the list is growing every day. One day you might be an entrepreneur supplying some form of service to those schools. Don't be lazy, going off to chase certificates. Go and work.

True words bro, teach, get some relevant experience and then carve out a niche for yourself. At some point in your career preferably, mid way, you could embark on some educational pursuit if required, that will add credibility to your extant experience-it might not be any of the above mentioned because what will define the course of study then is the contemporary demand on ground. Unless, if of course, you are considering a 360 degree career change!

The path you want to  pursue now is akin to putting the 'cart in front of the horse' and is a clear case of how many people attempt to accelerate their career in the short term, in a reverse chronological order. This strategy is good in the short term but has dire consequences in the long term.

I have friend who has taught in a private school for four years in Nigeria, discovered a gap in the private educational sector in Nigeria and immediately acquired the requisite qualifications abroad to fill this gap. Now she is back in Nigeria and runs a boutique consultancy firm in Lagos that helps private schools develop and expand their existing curriculum so that they can compete with international standards. She is in a 'class' of her own now and gradually building her 'brand equity'.

Guess what, she didn't go for any of the fancy qualifications as most of us would because we have been programmed to 'follow a script', she simply acquired some curriculum development training and consolidated this with her experience.

I just hope I am making sense.

Thank you!

Compliments T22. Hope you are doing good?

You have raised some valid points here which is worthy of discourse.

First and foremost, you have mentioned amongst other things that a 'Phd' offers some 'advantages' which is quite correct but you have refused to create a 'short term compensation vs  long term gain analysis' which makes your view 'slightly relative'. Hence, anybody body that opts for a Phd because he or she is afraid of 'the sadness that comes from going back to naija and competing for jobs that are not even available sef' is just creating an imaginary route of escapism and will sooner or later wake to the reality on ground and that leads to a vital  question: Phd at what cost?


Please don't get me wrong, I am not trying to discourage the poster from exploring any of the alternative routes mentioned in the original post but more often, people have come to me for advice and what I have deduced from interactions with them is a 'scripted career path' based on some spurious analogies and accumulation of qualifications and as I have mentioned if the desire of the poster is academic research then a Phd is of course required. If not then he is on the wrong path.

I will suggest that you should be sincere with yourself and stay true to your own 'moral convictions'. However, one down side to this is that we tend to create imaginary 'routes of escapism' whilst been 'cognitively blind' to the truth within us.

I was recently invited to a small forum organised for Nigerian students in the US enrolled for post graduate degrees and was appalled when majority could not say in 'clear terms' what they intend to do after their course of study. Alot had this lost look in their eyes!

Also, I have also seen people take the 'Phd route' as a means of 'escapism' mentioned above. In this regard, there are certain questions, I would throw at the poster of which only him can provide sincere answers to

What do you intend to do career wise? Do you want to remain along the lines of 'academia' or build a career in business? If you answer to this question is the former then perhaps a Phd could suffice. But, yet again we can still argue critically that maybe, a Phd at this point in your academic career might not make much impact in the long term. This is because in ideal terms, a Phd is a specialist qualification that should also be backed up by relevant years of scholarly research and academic write up and not just be another 'qualification in your kitty'


Secondly, if the answer to the question above relates to the  latter, then maybe the MBA would come handy but yet again how years of 'experience' does the poster have? One thing we all need to bear in mind is that having all these qualifications-Ivy league of not does not make one a magician over night. Rather, career acceleration is backed by a myriad  of several factors including experience, networks et al.

Most at the end of the day just  find themselves in a 'Catch 22' situation if they are not able to define from the start what they want to do. Finally my second question is this: After the 'Phd or Ivy league MBA' , what next?

May God open our eyes of understanding and teach us to define our own destinies and not follow the crowd

Obiagu1:
@ Akainzo,

There are some wrongful assumptions you made.

(1) You assumed that the cost of exploration and production is zero
(2) You assumed that the companies that explored, drilled, serviced, produced the petroleum run a charity, hence do not declare profit.
(3) Nigeria has an unlimited quota hence could increase the volume of her petroleum export to offset the subsidy

etc

@ Obiagu1
God bless you for showing Akainzo the 'Mathematican' the light.

Shakes head in dismay!

Nigerians should wake up and face reality, your Nigeria can no longer support fuel subsidy for ALL her citizens. We need stop behaving like a first son, who once upon a time got ice cream whenever he demands for one. But, as his parents had more children and family purse became leaner, his parents could no longer afford ice cream for all their children. The first son rather than show understanding, threatens fire and brimstone.

Decades of inept, bad and visionless leadership which didn’t start during GEJ's tenure has resulted in a comatose entity called ‘Nigeria’ and please spare me, GEJ is not the cause of all our problems as a lot of people have been brainwashed to believe! This population can no longer be supported with oil from the Niger Delta which is a non renewable resource. Look at the UAE, in addition to revenue generated from crude oil, they have invested in Dubai and made it a global tourist destination hence, creating another source of sustainable income in case, the oil runs out!

For other nations, their greatest resource is their population but ours is our greatest undoing. Whether ACN, PDP or CPC they would still have removed subsidy. What we need to focus on now is to ensure that money realised from this removal is invested in the development of social amenities. One question for the people raving, ranting and asking for GEJ's head-how many social and developmental amenities has the past governments put in place to make life comfortable for the common man ?All the structures that we have on ground were constructed between 20-30 years ago! FOOD FOR THOUGHT!

God bless Nigeria!

Nigerians should wake up and face reality, your Nigeria can no longer support fuel subsidy for ALL her citizens. We need stop behaving like a first son, who once upon a time got ice cream whenever he demands for one. But, as his parents had more children and family purse became leaner, his parents could no longer afford ice cream for all their children. The first son rather than show understanding, threatens fire and brimstone.

Decades of inept, bad and visionless leadership which didn’t start during GEJ's tenure has resulted in a comatose entity called ‘Nigeria’ and please spare me, GEJ is not the cause of all our problems as a lot of people have been brainwashed to believe! This population can no longer be supported with oil from the Niger Delta which is a non renewable resource. Look at the UAE, in addition to  revenue generated from crude oil, they have invested in Dubai and made it a global tourist destination hence, creating another source of sustainable income in case, the oil runs out!

For other nations, their greatest resource is their population but ours is our greatest undoing. Whether ACN, PDP or CPC they would still have removed subsidy. What we need to focus on now is to ensure that money realised from this removal is invested in the development of social amenities. One question for the people raving, ranting and asking for GEJ's head-how many  social  and developmental amenities has the past governments put in place to make life comfortable for the common man ?All the structures that we have on ground were constructed between 20-30 years ago! FOOD FOR THOUGHT!

God bless Nigeria!

AjanleKoko:
LOL@ your reaction to my 'student' jibe. Well, don't blame me. You always jump on all these Ivy-League-School threads, and are very quick with opinions about schools across the globe. I can't help but conclude that you still attend one Not like that is such a bad thing really.


Some of us are like Ade Bendel, you know, so you won't blame us for our ignorance of these matters. Ignorance is bliss jare

Moni we no get,
Book we no sabi

Spot on!

tanimola22:
@ Deenee, I have not read your posts in a while. Hope body dey kampe.

1 milla per month is not more than USD9K. You know that 1 milla a month is not unreachable in Naija. That is approximately what entry level dudes with just MS degrees earn in a place like Total. But some people will never believe this is possible. Some people are earning good bar in that Naija.

@OP
I refer you to the thread named Total Oil and Gas in the career section. Check it out and see that your goal is more than within reach!

Yours truly,
T22.

Hey, I am good, just been busy lately. Guess I have alot of catching up to do. No doubt, I know for sure that a lot of people earn above the 1 million naira mark in Nigeria and for some this is just base salary alone. My contention with the thread is the fact that the poster has decided to start a thread to ask such a question which I in my opinion find 'demeaning'( if the title is considered!) and also for him to say something along the lines of and I quote him from the original post-

However all the jobs I keep seein here and there seems not to offer anything close to N1M a month. That amount seems to be like a yearly income or something .

Ok, please someone tell me that there are jobs out there that pays that much, or is it just a dream, maybe I am just dreaming, maybe I should just stay back here in the States, maybe.


I think there is a 'condescending undertone' to the sentence above, hence my reply, just my own opinion!Hope you are good?

A valuation is the first and ideal thing to do. Since your company is still at the 'start up stage', debt financing will be the best option though a little bit expensive but you have the advantage of full control which will allow you develop your company without any form of interference. One question though what about your projected cash flows?

@poster , I don't mean to be antagonistic nor debunk your claims but bear in mind that not everybody can be taken for a 'ride'. If you work as a 'consultant' in the US with the extant 'experience' you are brandishing and earn the 'amount' quoted herein, then you should have your own contacts and network by now, hence do some personal research on your own. Starting a thread to gather information for the kind of wage you aspire to earn when you return to Nigeria is not it at all. If you are based in the US and work in IT consultancy, then you should know that there is a terminology called 'executive search'. This is a kind of 'bespoke' recruitment service offered by recruiters who are ready to help you search for jobs tailored to your specifications once you have the requisite skills and for a fee.

No harm intended but I am of the opinion that,

For some reason, my replies on this thread are 'hidden' Anyway, I will try to repost some salient points again.
@coogar,
I disagree with you. I work in the financial services sector over here and currently the average age for 'first time buyers' in the UK is 38 years circa and increasing and also bear in mind that the home is never really yours till you have paid in full the mortgage tied to the house which on the average takes about 20-30 years to complete! Bear in mind too, that a lot of these houses have been repossessed because the home owners cannot afford to keep up with payments! So in reality, some of the so called 'first time buyers' are actually living in rented apartments now! When there is a big glut in the market and most homeowners even old aged pensioners (OAP) have put their houses up for sale just for them to be able to wind down their mortgages and some are taking out second mortgages just to pay off a first one and thereby increasing the vicious cycle of debt?

Additionally, the credit score assumption you are brandishing here is no longer relevant, you still have to make a 'down payment' to secure a mortgage, the credit score only presents a picture of your credit history and thus, is an 'estimated' indication of your ability to meet obligations when due. In fact, in retrospect, the whole idea of using credit score is currently challenged as I type, because using historical ability to 'pay when due' is not an ideal way to determine if such obligations will be met in the future. What if circumstances change? You are still going along the lines of the main short coming for the model (i. e PPP). We need to stop comparing exchange rates!.

You also say that a master degree holder earning £1,200 a month is surviving and can take care of his family. How? When the £1,200 is taxed at basic rate of 20% which is deducted at source, there is house rent (£300-£400 circa for one small room with shared facilities), council tax, utility bills, cost of commuting to work, N.I etc etc. Whilst, if he was earning an equivalent in Nigeria, he would live like a small king! Besides, how many whites do you see with masters doing security job abroad? We have allowed ourselves to be under the captivity of another form of slavery-MENTAL SLAVERY.

I will not deny the fact that we do have a lot of issues in Nigeria including corruption but the exaggerations are uncalled for. Also, I do acknowledge the fact that there is poverty in Nigeria but the figure thrown at us shouldn't be accepted without a well balanced form of reasoning

Your comment on 'home cooked beans' causing diarrhoea does not add up, so wake up! People can eat baked beans and still have the same diarrhoea! This is the kind of the mental captivity we need to free our selves from. Now, all of a sudden eating 'home cooked beans', a national delicacy will automatically cause diarrhoea whilst baked beans which has been prepared with all sorts of chemicals that could be detrimental to our health in the long run will not!


@Dis guy, I didn't make any mistake. Tuition in the UK now, is on the average is £9,500 per session. You are required to complete three academic sessions for a degree (depending on your course of study) hence , 9,500* 3= £28,500. Also, consider living cost and expenses which on the average is about £5,400 per session (depending individual preferences) hence 5,400 * 3 =16,200. Don't forget to add the interest rates because these loans are not free, inflation and above all, the 'discounting factor' of money. The survey is based on historic data and the new tuition takes effect from 2011

Finally, I would prefer to be 31yrs old and still leaving with my parents rather than moving and piling up irrelevant debt!

God bless Nigeria!

P.S I have links to support my claim but my posts have been 'hidden'

For some reason , my replies on this thread are 'hidden' Anyway, I will try to repost some salient points again.
@coogar,
I disagree with you. I work in the financial services sector over here and currently the average age for 'first time buyers' in the UK is 38 years circa and increasing and also bear in mind that the home is never really yours till you have paid in full the mortgage tied to the house which oon the average takes about 20-30 years to complete! Bear in mind too, that a lot of these houses have been repossessed because the home owners cannot afford to keep up with payments! So in reality, some of the so called 'first time buyers' are actually living in rented apartments now! When there is a big glut in the market and most homeowners even old aged pensioners (OAP) have put their houses up for sale just for them to be able to wind down their mortgages and some are taking out second mortgages just to pay off a first one and thereby increasing the vicious cycle of debt?

Additionally, the credit score assumption you are brandishing here is no longer relevant, you still have to make a 'down payment' to secure a mortgage, the credit score only presents a picture of your credit history and thus, is an 'estimated' indication of your ability to meet obligations when due. In fact in retrospect, the whole idea of using credit score is currently challenged as I type, because using historical ability to 'pay when due' is not an ideal way to determine if such obligations will be met in the future. What if circumstances change? You are still going along the lines of the main short coming for the model (i. e PPP). We need to stop comparing exchange rates!.

You also say that a master degree holder earning £1,200 a month is surviving and can take care of his family. How? When the £1,200 is taxed at basic rate of 20% which is deducted at source, there is house rent (£300-£400 circa for one small room with shared facilities), council tax, utility bills, cost of commuting to work, N.I etc etc. Whilst, if he was earning an equivalent in Nigeria, he would live like a small king! Besides, how many whites do you see with masters doing security job abroad? We have allowed ourselves to be under the captivity of another form of slavery-MENTAL SLAVERY.

I will not deny the fact that we do have a lot of issues in Nigeria including corruption but the exaggerations are uncalled for. Also, I do acknowledge the fact that there is poverty in Nigeria but the figure thrown at us shouldn't be accepted without a well balanced form of reasoning

Your comment on 'home cooked beans' causing diarrhea does not add up, so wake up! People can eat baked beans and still have the same diarrhea! This is the kind of the mental captivity we need to free our selves from. Now, all of a sudden eating 'home cooked beans', a national delicacy will automatically cause diarrhea whilst baked beans which has been prepared with all sorts of chemicals that could be detrimental to our health in the long run will not!


@Dis guy, I didn't make any mistake. Tuition in the UK now, is on the average is £9,500 per session. You are required to complete three academic sessions for a degree (depending on your course of study) hence , 9,500* 3= £28,500. Also, consider living cost and expenses which on the average is about £5,400 per session (depending individual preferences) hence 5,400 * 3 =16,200. Don't forget to add the interest rates because these loans are not free, inflation and above all, the 'discounting factor' of money. The survey is based on historic data and the new tuition takes effect from 2011

Finally, I would prefer to be 31yrs old and still leaving with my parents rather than moving and piling up irrelevant debt!

God bless Nigeria!

P.S I have links to support my claim but my posts have been 'hidden'

@coogar,
I disagree with you. I work in the financial services sector over here and currently the average age for first time buyers in the UK is 38 years circa. When there is a big glut in the market and most homeowners even old aged pensioners have put their houses up for sale just for them to be able to wind down their mortgages and some are taking out second mortgages just to pay off a first one and thereby increasing the vicious cycle of debt? You can do the research your self and see link below (this was even in 2010!). You are still going along the lines of the main short coming for the model (i. e PPP). We need to stop comparing exchange rates!. You also say that a master degree holder earning £1,200 a month is surviving and can take care of his family. How? When the £1,200 is taxed at basic rate of 20% and deducted at source, there is house rent(£300-£400 circa for one small room with shared facilities), council tax, utility bills, cost of commuting to work, N.I etc etc. Whilst, if he was earning an equivalent in Nigeria, he would live like a small king! Besides, how many whites do you see with masters doing security job abroad? We have allowed ourselves to be under the captivity of another form of slavery-MENTAL SLAVERY.

I will not deny the fact that we do have a lot of issues in Nigeria but the exaggerations are uncalled for

Your comment on 'home cooked beans' causing diarrhea does not add up, I will not even comment on this but wake up!


@Dis guy, I didn't make any mistake. Tuition in the UK now, is on the average is £9,500 per session. You are required to complete three academic sessions for a degree (depending on your course of study) hence , 9,500* 3= £28,500. Also, consider living cost and expenses which on the average is about £5,400 per session (depending individual preferences) hence 5,400 * 3 =16,200. Don't forget to add the interest rates because these loans are not free, inflation and above all, the 'discounting factor' of money. The survey is based on historic data and the new tuition takes effect from 2011

Finally, I would prefer to be 31yrs old and still leaving with my parents rather than moving and piling up irrelevant debt!

God bless Nigeria!



http://www.independent.co.uk/life-style/house-and-home/property/no-place-like-home-the-generation-who-cant-afford-to-buy-1921781.html

you went on to say people who earn £4,000 per annum will take an average of 10-15 yrs to save for a down-payment? where did you get that statistics from? do you know the average age of first time buyers in the uk is 31? how many 31 yr olds own a flat in nigeria? how many 31 yr olds still stay with their parents in nigeria?


I disagree with you. I work in the financial services sector over here and currently the average age for first time buyers in the UK is 38 years circa. When there is a big glut in the market and most homeowner even old aged pensioners have put their houses up for sale just for them to be able to wind down their mortgages and some are taking out second mortgages just to pay off a first one and thereby increasing the vicious cycle of debt? You can do the research your self and see link below (this was even in 2010!). You are still going along the lines of the main short coming for the model(i. e PPP). W need to stop comparing exchange rates!.

@Dis guy, I didn't make any mistake. Tuition in the UK now, is on the average is £9,500 per session. You are required to complete three academic sessions for a degree (depending on your course of study) hence , 9,500* 3= £28,500. Also, consider living cost and expenses which on the average is about £5,400 per session (depending individual preferences) hence 5,400 * 3 =16,200. Don't forget to add the interest rates because these loans are not free, inflation and above all, the 'discounting factor' of money.

Finally, I would prefer to be 31yrs old and still leaving with my parents rather than moving and piling up irrelevant debt!

God bless Nigeria!



http://www.independent.co.uk/life-style/house-and-home/property/no-place-like-home-the-generation-who-cant-afford-to-buy-1921781.html
http://www.propertywire.com/news/europe/average-age-of-first-time-buyer-in-uk-rises-to-35-201108235484.html

For those talking about phones. My dad still uses his phone which as I type is about six years old-he is very old school and the  phone is strictly  for calls and SMS only!. He is a VERYYYYYYYYYYYY comfortable man in all ramifications, so I beg to ask, does that make him poor?

We have been brain washed into thinking that if we don't get the new IPAD 2 or Iphone 4S then, we are living in 'poverty'. We have also been brainwashed into thinking that if we don't have similar basket of goods then, we leaving in poverty. Please what is the difference between baked beans sold in a can for £1/ 250 naira and a plate of home cooked beans which sells for 20 pence/ 50 naira? So, if I  decide to substitute for baked   beans and hence the price of my basket of goods drops, then does that mean I am living  in 'poverty'? The analogy does not add up at all and we need to understand and question it!


Poverty is not determined by how much you have lined your pockets with, It is simply a state of mind. We need to de-congest that state of mind, if we must move forward as a country. It is this kind of reverse mentality (a common psychological pandemic in Nigeria), that will make a Phd holder to leave his not too 'rosy' teaching job in Nigeria and become a cab driver on the streets of New York or a masters degree holder to become a cleaner or securityman!

Another question, how many black berry users in Nigeria have bought their BB on credit?

God bless Nigeria

We have been BRAINWASHED by the western media. QED! I support the point that the originator of this thread is trying to raise. I had an intellectual discourse with one of my American professors during an interactive session and I raised the same point. What they have used to arrive at this ludicrous assumption is PPP (purchasing  power parity) or 'Law of One Price'. PPP is an economic theory that estimates the amount of adjustment needed on the exchange rate between countries in order for the exchange to be equivalent to each currency's purchasing power

However in reality, the price for basket of goods differ from country to country, is determined by several factors( exchange rates inclusive) and they have failed to realize this. Why not try and reverse the question and ask  thus: can someone in Britain live on less than £2 per day or an American on less than $2 per day? I guess we all know the answer to that! No doubt, we have our own plethora of problems in Nigeria, but I believe that we are better off than most of us are made to believe. Please don't believe everything you hear or watch on TV. Most of it,  is 'propaganda' and it is a pity that we keep falling for it over and over again. Just like most still think that Africa is a country!

An average undergraduate in Britain leaves University with debt in excess of £50,000. In the USA, it is about $60,000-$65,000. How many Nigerian undegrads have that kind of debt by the time they are leaving school? If you earn £40,000 circa per annum in the UK, it will take you an average of about 10-15 years just to save for a 'down payment' to secure a mortgage of £250,00 for a modest 3 bedroom semi detached bungalow (taking into account that your income is taxed at source) and this is just an equity contribution of secure the mortgage!

In Nigeria, if you earn the equivalent which is a six figure sum, you can comfortably build your own house (to your own specs) in four year or less if you are prudent. We are easily brain washed by the media. A modest student room with shared facilities (kitchen, toilet et al.) cost about £450/$600 per month in most schools over here. In a year that is about £5400/$6000. With that kind of money in Nigeria, you can rent a nice place depending on location and be the lord and manor of your abode.

We really need to change our  mindset. Everything here is obtained on credit (from common hand phones, electronic appliances,clothes cars, mortgages and even holiday travel plans- I still can't understand why I would want to take a loan to travel on holiday!) . The reality is that they actually need us more than we need them. The sooner we realize this hard truth the better for us!


God bless Nigeria!

if the city of lasgidi is the worst place what about NY, Mumbai, London? These people and their propaganda sha!