₦airaland Forum

God cannot forbid a divided Nigeria when we have refused to use our brains and work actively to restructure the country. We play politics with everything in Nigeria. If you know the amount of weapons Niger-Delta militants have at their disposal in the whole of south-south, you will know that Nigeria is a timed bomb and about to explode.

Our inactiveness might lead to division. Nobody prays for a divided Nigeria, but there is always a limit as to what Nigerians can accept and tolerate, the land is filled with injustice and nepotism, with total mismanagement of national resources.

If we don't start the process to restructure now that we still have a fragile country, there might be no country to restructure if we continue to procrastinate.

God will never do for us the things He had given us the abilities to do for ourselves.

ultron12345:
God forbid. The highest that will and should happen is restructuring.

The importation is only a temporary measure. Dangote's 650K refinery is coming online soon. BUA has already given out contracts for a 250K refinery in akwa ibom, plus several other modular refineries. All this capacities put together, plus if the government can get it's 450K working (even if by privatizing them), will give Nigeria are total refining capacity of 1.4MBPD. Assuming the modular refineries can add 100K to that, that will be 1.5MBPD capacity putting us in the top 11 globally in terms of oil refining capacity, even ahead of the UK and France. Truly, the end of the tunnel is usually darkest

Even if we divide, it should be into north (NW and NE) and south (SE, SW, SS, NC and maybe Kano and kaduna. The southern half of Anglophone Cameroon will also be welcome.). Not to break up into numerous Liberias, Gambias and Sierra Leones like some are recommending. We don't need anymore caricature countries in West Africa.

I completely agree with you. The mindset of 90% of Nigerians would be to steal and ruin your business if you put them in charge of your business, I have personally had bad experiences with Nigerian workers and managers, they will always find a way to steal or inflate prices of goods.

Our corrupt system must have corrupted the corrupt Indians and other foreigners in Nigeria.

Our system is so bad and corrupt that even if Pope Francis is made the President of Nigeria or Manager of Dangote group, it is only gonna be a matter of time before our system corrupt's Pope Francis.

If Nigeria were to be a sane country with honest citizens, all the measures and policies by CBN so far, to boost our economy are supposed to be yielding positive resulst. We are waiting for foreign investors to invest in a country where the citizens are so dishonest and scared to invest in the real sector.

ultron12345:
Lol... Some people are really comparing Nigerians to Indians.

In terms of business prowess (I usually say that Nigeria is just India on a scale reduced by 6, but with a less effective private sector. In Nigeria, the people blame the government for everything, while in India, the people take the bull by the horn, and you wonder why they are so successful in Nigeria) and achievements as a people, they are far far better off than Nigeria.

759,000 Indians are millionaires, while just 30,000 Nigerians are millionaires. This shows how business/investment saavy the people are.

Over 110 Indians have become billionaires while just 4 Nigerians have achieved that feat.

Even if you correct all these figures to cover up the population difference, Indians still gap Nigerians by far. Correct for population, for Nigeria to match India in the above indices, we should have 126,000 millionaires and 18 billionaires.

Go and look at their companies. You think Dangote is big, wait till you compare it with Tata Group or Reliance Industries and many others.

On Forbes 2000 companies, Indians have put 75 of their companies there, while only 4 Nigerian companies made the list.

Even in diaspora, you can't compare what Indians have achieved to Nigerians. Many have already mentioned the number of fortune 500 companies that Indians run, how many do Nigerians run?

The richest family in the UK is an Indian family.

In the UK, Indians families have the highest household incomes. Blacks have the least (even less than the UK average)
https://www.ethnicity-facts-figures.service.gov.uk/work-pay-and-benefits/pay-and-income/household-income/latest

In the US, Indians have the highest household income at $135,000. Nigerians are at number 65 on the list ($61,000), which is even less than the national average of $63,000. Even Ghanaians rank higher than Nigerians on that list. Na only noise Nigerians sabi make, and then to blame everything on their government.
https://en.m.wikipedia.org/wiki/List_of_ethnic_groups_in_the_United_States_by_household_income

The stock exchange Nigerians have been able to build is worth about $50B. Indians have built 2 stock exchanges, the NSE worth $2.2T and the BSE worth $2.1T. This should show you how vibrant each country is in terms of business.

You may call them poor, but they are still able to go into space. What have Nigerians and their NSRDA achieved concerning space?

Let's not even start talking about technological development.

Someone was saying its their large population, yet (I still dispute this statistic, it doesn't make any sense, but since most of those praising Nigerians now usually sing with it everytime, let me put it here) there are more Nigerians living in poverty (80M out of 200M), than there are in India's 1.3B (yes oo, na so dey talk, meaning less than 80M out of India's 1.3B are living in poverty, meaning India has a poverty rate of less than 6%.... Anyone who has been to India or even just studied general economic data of developing countries will know this is bullshit)

For honesty, I can only speak about my own experience with them and what I have heard from others who have had first hand experience with them. From my experience oo, Indians are a million times more honest than Nigerians. It was on this thread sometime ago that I shared my experience with Nigerian managers in my company, how everyone is working to steal from you, how I one changed management 3 times in a year, how Nigerian managers almost gave me hypertension. Until someone suggested I hire Indian managers. I was reluctant at first, considering how expensive it will be to be paying visa and flight tickets and all that for expatriate managers, but since I was already about to close down the factory due to Nigerian's wahala, I took the advice and from then on, it was like magic, for the first time ever, I had peace of mind on that factory. The surprising part was that they eventually turned out to be cheaper than the Nigerian management when you consider the increases in productivity and the leakages that Nigerians were using to steal money that they blocked.

Till today, when anyone complains about Nigerian staff and how their corruption/dishonesty is about to destroy their business, I tell them to hire Indians. In the past 2 years, 4 people have taken the advice and done it, and it has always ended in peace of mind, progress and happiness. Not a single one has regretted the decision. After the hell I have experienced in the hands of Nigerians, I have personally sworn never to put a Nigerian incharge of any of my businesses. If I can't be there to manage it myself, then it must be an Indian.

There is a popular company in Nigeria to which we supply products. When the Nigerians are incharge, you will spend over an hour, they will waste your time, talk to you anyhow and be using to style to demand bribe and "anything for the boys". But anytime the Indians are there, it's always very quick and straight-forward.

You think it's coincidence that many Nigerian companies are run by Indians, from Dangote to Globacom. You think its coincidence that Indian (and their Lebanese counterparts) businesses seem to do so well in Nigeria and are transferred generation to generation. You think its coincidence that they run all those fortune 500 companies.

But last last sha, Nigerians will do what they know how to do best, blame the government.

If you want to know and understand why Indians are preferred to head big businesses and corporations around the world, try to learn more about HINDUISM their main religion. In Hinduism, truth and honesty is timeless, infinite and unique.

Even in Japan where Shinto is their main religion, they are even more honest and truthful in handling businesses.

I always wonder and ponder what really happened to Christianity and Islam in Africa and Nigeria in particular.

emmanuelewumi:
Business is ruthless, business only give back to the society through community and social responsibility.

Non for profit organization can decide to be very kind.


Indians must be doing something right and have certain values for them to have all these high profile jobs as CEOs of the listed global brands and building family businesses that have been operating for close to 100 years in Nigeria and the businesses are growing from generation to generation.

Still part of our weird system. A system you cannot change will change you instead.

emmanuelewumi:
The risk management of the company was weak. Wale and his goons had a capital of 5% of the company Unipetrol which they bought. The first thing they did when they took over was to sell their controlling shares in the headquarters building and became a tenant in their own property.

Sold a lot of juicy assets and Investments of Unipetrol, had faulty corporate governance issues and mismanagement.

I wrote a petition to SEC. I wrote an article concerning Oando to all the major newspaper but it was not published, until I posted it on Nairaland and Stockmarketnigeria .


Look for my old moniker to see the article


I have learnt to avoid any company whose CEO is lawyer eg Oando

Nigeria is a total mess, our problems boils down to our absurd mentality. In the next 20yrs, we are still going to be fighting same problems as today, because we are not ready to pay a price or inconvenient ourselves for future gains. I was so ashamed to hear our VP Osinbajo saying that FG will now be patronising Naija made cars, are you not wondering why the thoughts to start patronising Naija made cars just occurred to them now that we are already in a deep recession with lots of bad economical policies? Why didn't they start patronising made in Naija cars and other local products at the very beginning of their administration as they promised during their campaigns?

Nigeria will always be a joke among nations, we always wait for everything to get so bad or collapse before acting with fire-brigade approach. We prefer to solve problems under duress than prevent that problem from happening in the first place.

To all Nigerians in diaspora, you guys should try to invest in your resident country abroad, Nigeria is a total waste and killer of dreams.

Home cannot always be home, when home is a threat to our future and that of our children.

Our leaders are not feeling the economical heat or recession. Naira devaluation doesn't affect them because their money is in dollars and Pounds. ASUU strike will never affect them because all their kids are schooling abroad.

I used to be very hopeful about the future of Nigeria, but those willing to destroy the country are far more than those willing to rebuild it. Virtually every Nigerian is like a cancer to the country, greed, corruption, mismanagement, rent seeking and entitlement mentality had finally buried Nigeria.

This is a very very good development, only Nigerians can truly develope our economy, 95% funds from foreign investors doesn't really impact our economy and create jobs, they even help to compound our economical woes with capital flight, just a click on a mouse, they could transfer billions of dollars out of our economy in seconds, something Dangote or Innoson cannot do easily, because they have industries on ground and workers to pay.

If we had done our home-economics properly, Nigeria will definitely do better without foreign investors. Foreign investors are not Father Christmas, they are also looking for loopholes in our economy and take advantage.

ultron12345:
Financial Times: Nigeria’s richest ramp up investment in Africa’s biggest economy as foreigners stay away

https://www.ft.com/content/c5b98699-a5bb-49b2-8436-4a7edf314b87

Thats very true sir, but apart from our telecom and financial sector, I cannot really see any other sector that is doing well in Nigeria at the moment. Our producing or manufacturing sector is always a case of two steps forward and five steps backward.

emmanuelewumi:
Even in a recession, some sectors are expected to experience growth. What are the sectors we should be looking at?

Take it easy bro, emmanuelewumi hasn't said anything bad to warrant such harsh words from you. Just let it slide, we know the economy is bad and we are all affected one way or another, that is why we are all here to learn from each other on how best to ameliorate the situation.

ibechris:
I don't have problem with my lending,but I guess u are just being childish and I dont expect that from u.

However, no sensible man or woman would chose to put all his capital in one source,so keep quiet and stop being nosy.

Considering the huge debt and bogus govt spendings, with hundreds of useless govt parastals everywhere, in collaboration with CBN's unstable policies, this recession might last up to one year or more. Govt spending is just too big and they seem not willing to reduce it anytime soon.

Our Senate president, Ahmed Lawan said Nigerians should not focus on their big salaries but should focus on their hard work to the nation, can you imagine. This recession will definitely last more than expected, because we have so many incompetent Nigerians handling sensitive positions in the country.

emmanuelewumi:
It is official Nigeria is now in a recession. How long shall we be in the current recession?

Abeg ask all the petty and pertinent questions, negative rates on t-bills has really exposed our funds to all kinds of ponzi schemes.

ibechris:
I need to visit them to ask pertinent questions before I part with my money.

Lazyyouth4you is damn impressive, no doubt he has really worked on himself and better his image in this thread. I just wish TransAtlantic could borrow a leaf from him and do likewise.

jajeri3216:
Incredibly put together.

Love it!

I completely agree with you, but greed has also played a critical role. However, Nigeria is now officially in recession, we all pray this recession won't last, the hunger and poverty in the country is so alarming.

Lazyyouth4u:
It is not greed that is making locally produced goods more expensive sir. The cost of production in Nigeria is too high. Manufacturers have to buy generators and diesel, they have to move goods and raw materials in bad roads where these goods are sometimes stolen by highway robbers, trucks break down and have to be fixed all the time, workers are stealing from the company, interest rates are high, raw materials, machinery/plants and spare parts are imported with a devalued Naira, lots of clueless managers running companies because they are related to Oga, etc. Most importantly, economies of scale keeps foreign goods super cheap. Those countries produce so much of these commodities that the costs per unit naturally go down as they are spread over larger quantities. Naija businesses can not compete.

Overcapacity and oversupply in China (and even India) has led to a situation where some commodities can be shipped and dumped in Nigeria and other African countries (at costs that are still lower than Nigeria’s even with inclusion of shipping and duties) just for these Asian companies to break even.

For Naija made goods to compete, costs of production have to go down. Fix the power situation, road networks, crime, fx situation, lower interest rates and employ better staff and managers and the difference will be felt. I doubt that will happen in the next 5 to 10 years.

Nigerians are naturally greedy, I keep asking why locally produced goods are more expensive than foreign goods, particularly food stuffs. Every state govt should set up special agency to checkmate the incessant increase of food stuffs, it is getting out of hand.

Few years ago when I visited a local market in Russia near Moscow, the entire market was closed down by the authorities. When I asked what was going on, a Serbian who is also a trader in the market explained to us in English that the (Putin) govt had to close the market due to incessant increase of food stuffs and other goods.

The govt went to negotiate with the producers of those goods and bought lots of their products at a discount price and directly sold them to the people, few days later when the closed market opened, the marketers were compelled to sell their goods the normal price to remain in business.

Today, Nigerians are just giving all kinds of flimsy excuses to increase their goods, particularly food stuffs and cements. Greed and massive corruption from our custom officers in our borders are responsible for the unprecedented increase of goods across the country.

The fact that you don't even know that you are always rude and insulting makes your case a very helpless one. Calling someone's mother a smuggler, and sees nothing rude in it shows how bad you were raised by your parents, very sorry to say your parents did a terrible job raising you as a child.

TransAtlanticEx:
.
Where is the "rude" in my comment?abi you want just talk?
Don't ever quote me again,Rubbish.

They are just saying invest what you're willing to lose just to encourage and masturbate their greed to make quick profits. MOST Nigerians seems to have a very short memory and never learns from their past mistakes.

seyisanya:
I laugh when people try to defend their involvement in a Ponzi scheme with the phrase '' just invest the amount you're willing to lose''.

Seriously? So some people really earmark a certain amount as what they're willing to lose. What exactly does that mean?

Even if I'm worth a billion naira, I'm not going to willingly put a million naira in what is clearly Ponzi!

I understand you, but we all cannot be heartless and cruel to each other in this country. Just look at where our greed and heartlessness had landed us as a country. You cannot even trust anybody, not even members of your family or sleep with your two eyes closed. Killings, hate, dishonesty and bad news everywhere. Nigerians are far better than that, we need more honest and kindhearted people in this country, not people who wants to make money at all cost, even at the expense of other peoples lives and happiness.

ojesymsym:
Bros, this is sounding like music to you because you can afford it. Assume you had just 20k last card and your wife is telling you all these Mills and Boom story, u for non de talk all these romantic story.
In a society like ours, people will take advantage of you if you have attitudes like this and I am sure even you will be able to attest to that.

They are the kind of humans that makes life still worth living.

NL1960:
My wife is worse o. She will give an artisan work and pay almost 100% and the artisan go dey dribble her while she is there begging the artisan. Meanwhile my body go dey boil and hot for the whole thing.

Sorry to say you are not as smart as you think or try to make everyone believe here. Your sense of reasoning is baffling. Better not to argue this at all.

"A satisfied life is better than a successful life, because our success is measured by others, but our satisfaction is measured by our own soul, mind and heart".

TransAtlanticEx:
DJ cuppy is scratching discs because she isn't savvy enough to run a business na.Time wasted can never be gotten again,if she knew this(business and time value for opportunity),she wont spend a minute of her time in any stupid music video.How much does humanity pay a DJ ffs?And you say money is nothing?
If otedola hadn't continue his business,will she be free enough to be fooling around in the name of DJ?
More reasons why you should marry money savvy women so as to birth smart kids who can continue the empire.
I'm sure you know late chief Joe ogbebor of OMG SYNERGY and you should know his daughter Ose Alexander Aisien,the C.O.O and his son Owen as the MD continuing after their father died last year abi?
Who wouldn't want to have this?You think Otedola is happy about his kids fooling around? Not like they are even succesful entertainers like Davido or so.mtcheew.
Well,I don't have energy to talk,if you like,marry stupid women in the name of emotionally balanced abi "good",na una know.
I will never do it till this world end!I told my gees I won't marry a woman that makes less than 500k a month them dey look me like say I dey craze.
Time shall tell

Money is not everything in life, everybody cannot be savvy about money. Happiness, integrity, love and kindness are still far more than money, without these virtues, you will always be seen as one of the world most poorest man, even with billions in your account.

Today, in the world of finance and investments, if you are wealthy, you must not necessarily involve your wife or children in your business or investments if they don't have interest in it or savvy about investments. You could buy shares for them in good companies or open a good financial insurance for them, and they will never suffer for the rest of their lives even when you dead and gone.

That's why DJ Cuppy is just a DJ, catching her fun with a very strong financial insurance and shares at her disposal. Her father is even more happier to see her children living a happy life and they must not become a business mogul like their father.

If your happiness depends on money, you will never be happy with yourself.

TransAtlanticEx:
I'd be worried if I marry this type of woman.
Like,what will happen to my money and investments when I die?
Na so them go use am dey do saraka in the name of being good?
Also,what kind of financial values can this supposed "good woman" pass to my offspring?Isn't this recipe for birthing financially slow children?
Honestly this is being slow in the head,has nothing to do with "good".take note.
Besides,I still know the story is fake

This tracyorez is just like my wife, so emotional and good to a fault. At the end of the day, every man should just pray to have a woman like them in their life. They are very successful in marriages, because they often downplay those marital challenges that leads to divorce. Kudos lady tracyorez, you will definitely get your money back, don't worry about that, but you might not get the interest that is supposed to accrue on your money for the past few months.

@Tracyorez, there are things you are still not telling us. You might have had some flirtation with your banking officer, and you became so emotional and trusted him enough to control your account. And this guy must really be a tall and handsome guy with good English, correct me if I am right.

Have you ever wondered why most female bank customers are given males as their banking officers, while male customers always have beautiful damsels as their banking officers?

Banking is a very big business, and in Nigeria, it is a bit more than just a business. If you know you know.

You wouldn't have been in this mess if you had had a female banking officer.

I once had a pretty damsel as a banking officer, her voice and smile could even make Romeo to cheat on Juliet. Unknowingly, I started falling in love helplessly, if not for God and a friend who also had some experience in the past, I would have just been a victim.

To all the wealthy guys in the house, if you can, just try to avoid your wife having a male banking officer or gynaecologist or fitness trainer.

@ahiboilandgas, just allow things to slide biko, you mustn't respond harshly to Lazyyouth. We prayed fervently for God to help us change lazyyouth, now that God has answered our prayers, you want lazyyouth to backslide again and go back to the world. I must say that lazyyouth was about bringing out the best in him to enlighten us in this forum before ahib screwed up the whole process. Ahib and lazyouth are both unique in their own different ways, lets just counter each other with respect and this thread will always be fun for us all.

All Sukuk bond investors will receive their coupon before the close of work on the 17th December 2020. We are hoping for a new Sukuk to emerge soon, but I doubt if they are gonna give up to 9% in the next Sukuk.

TotoNaRubber:
Good morning everyone,
I would like to read from anyone who invested in the FGN N150 Billion SUKUK Bond that was later upgraded to N162 billion SUKUK Bond maturing June 2027 at 11.2 % .

I thought the first coupon payment was supposed to be in July 2020 as it is a half yearly coupon payments ?

Did anyone receive any coupon payment for this bond in July 2020 ? Or is it too early to expect coupon payment.
Secondly, when should a coupon payment be expected ?
Thanks

I think most of these houses in Lekki or highbrow areas in Lagos are overpriced. The same Lekki a closed friend abandoned his house about 2yrs ago due to excessive flooding.

Comeandcollect:
Good morning everyone, I would like to ask if buying these properties located at Ikota Lekki is a good investment, I was told the annual rent on a 4 bedroom duplex in this location is between N3 to N3.5 million a year. My questions are;
1. Is the rental income in these areas up to that amount?
2. Are the payments of rents sustainable of the tenants for anyone who may know or own a property in this area?
3. What are the risks buying a property in this location.

Thanks

I think the military should just take over the country, so that it would be clear we are back to military rule, since our civilian leaders are not better than military.

What a character, lazyyouth4you alias TransAthlanticEx are now the biggest abusers in nairaland, and same person is trying to proffer solutions to our problems in Nigeria with their questionable characters.

SamReinvented:
Define “Tax”. Please don’t abuse me o. I just want to learn as a humble student.

All primary and secondary schools should be free, except universities. The only reason private schools turned into businesses and became so expensive in Nigeria is because govt abandoned our educational sector for decades, and gave rooms for private schools. If our govt should wake up and build our public schools to standard and make it free, many private schools across the country will die a natural death.

I am a business man, I don't invest or see education and hospitals as a business but humanitarian, this two sectors are unique and every Nigerian, regardless of your financial status, connections or family background should be able to have access to them without hindrances.

About 98% of our leaders today never paid a dime for their education, even up to university level. Why should we deny our children the right to good education because we want to make huge profits overnight.

TransAtlanticEx:
Just see entitlement mentality.
Who gives a shit about the children of the poor?
Do you know if the rich kid's father was also a pauper who fought his way through life and won?
Who told you the rich are cowards?you think they are afraid of the masses?
Did you hear protesters going to banana Island or some affluent sections of Ikoyi to loot?
You think they don't wanna go there or don't know they can go there?
What they are afraid of Is the consequence of that act,because they know mean mofos are there hired by the rich with assault rifles to take any entitled fool out with no remorse.
School is not suppose to be a business?are you stupid,nigga?
Some of you people's utterances on here just shows y'all to be retarded underachievers in real life,spits mehn!

Since when has high school fees become a yardstick for good education? I weep for Nigerians and their mentality, education shouldn't even be a business venture, as long as only the children of the rich can get good and quality education in Nigeria, the children of the poor who couldn't get good and quality education will always make life unbearable for all, either we like it or not.

Well said, I wish you could continue to advice and inform us on important issues like this without pulling the trigger on anybody.

Lazyyouth4u:
There are many other reputable money market funds in the market - Stanbic, FBN Quest, United Capital, Vetiva, Afrinvest, SFS Financials to name a few. They are not here aggressively marketing their products but they really should be looked at. Though you should have at at the back of your mind that they will not offer you high yields that are unrealistic in the current low interest environment.

Anyone who is in the market should know that aggressive marketing does not necessarily mean good customer service, reliability and certainty of returns. Be very careful when choosing where to park your hard earned money. Don’t just select the marketer who is in your ears 247 promising you all sorts of unrealistic guaranteed yields. Do your Due Diligence!

Make you no go dey hear ‘voicemail’ or ‘Oga abeg rollover your funds’ at that moment when you really need your money. A word is enough for the wise o. Better to receive lower yields and sleep well at night than to put your money where enough stress go give you High blood pressure o.

I don't really need too much profits or interest on my investments, just moderate, too much of everything is bad.

Aquilapriscilla:
I haven't tried it out personally but why don't you reach out to them through their customer care line

Aquilapriscilla:
For me I have been using a fintech called piggyvest
They have normal savings @10%pa although you can withdraw more than 4 times a year.... If you are going outside that they will charge you a certain breaking fee

They have safe lock saving,their are different tenures with different rates interest is paid upfront>> image below

They also have a dollar savings although it just like you are buying from aboki. Interest on dollar savings is currently at 5%pa

You can check my signature for my referral link

You mean you can get 26 to 36% if you are depositing for over 2yrs tenure? Na waoo.. You don't earn that much even with money rituals.

Investment One is very okay, I must applaud their services, though they still have to work on their customer service response. I also thank Emmasoft for his efforts in enlightening us about investment one, we can't wait to have emmsoft back in this thread. Sometimes, you just have to give some people the benefit of the doubt.