₦airaland Forum

ThierryJay:
Looks like a number of Nigerians who japa'd are still ignorant about certain issues. It appears they project their own experiences of poverty while in Nigeria to every other situation here in Nigeria.

Make no mistake, an average Tier 1 & 2 bank Manager/branch head here earns total emolument of not less than N2-2.5million net per month (bonuses inclusive).

With that amount, a BM in Nigeria can:

- afford to build a good house after a couple of years
- has access to loan facilities of up to a N100m which can fast-track significant capital projects
- buy a very good car. Most typically have 2 or 3 cars on average.
- travel abroad for vacation during summer, with or without family
- employ domestic staff that run errands, queue for fuel etc
- either live in a premium estate with almost 24hour electricity supply or afford or set up a solar inverter system that will guarantee all round energy supply
- afford to go out to fun places regularly
- have free access to premium HMO services for medical care that may cost even up to N2million at a sitting

So under no circumstances would you find an average sensible BM struggling to live a quality life in Nigeria.. The general macro issues that plague Nigeria affects everyone whether BM, toilet cleaner or even Government officials.

In addition, the self-esteem (not arrogance) that a BM will have from being at the top of his career, from being exposed and having valuable social capital is something that cant be quantified but typically exceeds the mental state and exposure of a Janitor abroad.

So capital No, an immigrant toilet cleaner abroad does not live a better life than a BM in Nigeria. But he definitely has better prospects to be something better than many other professionals in Nigeria.

cc: steeltrust

That's what I meant when I say the comparison is out of place. A bank manager in Nigeria is living fine and has a thriving career. It's an unbeatable experience which shouldn't be compared to a toilet cleaner in the abroad.

Yes, Nigeria has serious issues, but never should anyone say a toilet cleaner in the abroad lives a better life than a bank manager in Nigeria.

Ah! Let's fear God, please.

Antivirus92:
no empirical studies needed. Go through jamb, waec and neco best students for the past 15 years and cure your ignorance

My bad, I realised I replied to a conversation about the usual tribal bigotry.

Tolaram and Olam, two Singaporean headquartered companies making a kill from Nigeria.

Yugoslavia247:
Firstly, your struggles might be due to infidelity from your wife that is if it exists. Check that first. Secondly, no woman will help you are down. Thirdly, she never loved you.You just did not see it. If she loves someone else. Oyo is your case.

Truly, many women hate sex.
Like they can do without sex for months or years.
That is biology. But a woman who loves you will consider you and make herself availabe as much as she can.

cc: haybhi1🤷🏿‍♂️

---

So why do the same women whine when men have side chicks?

stagger:
Cocoa prices will collapse next year.

Come back here to quote me.

I think one year is too short for prices to drop as most Ghanaian cocoa is out of the market due to fiscal mismanagement, bad weather socialist policies and poor harvests. Prices will drop off when Brazilian and Peruvian cocoa come on board. This should take about two - three/four years. For now, supply is still not available as before while demand has grown gradually.

erico2k2:
Im not resigned to bank managers alone thats at the top end,
Many people on here don't even earn up to N500k a month is this not Factual?

That's true which applies to everywhere. Most humans are average at best. Globally, the highest earners are few in number. The difference I've noticed between a country like Nigeria and other developed countries are the availability of economic opportunities to earn a good income.

steeltrust:
I moved to america with out an education or skill
I got a part time job with ups and at same time was eligible for career choice meaning any school I want to go they will pay
I decided to get my CDL to drive a truck which pays better
After that I I found another job with Amazon full time while I’m still working with ups and hold my CDL and about transitioning to trucking department but when I got to Amazon the feeling was different

I got a whole lot more offers
Saturday

I’m not downgrading Nigeria but the truth is our leaders are wicked and the worst part their are some evil people who support their wickedness just for selfish and wicked reasons
And yes a cleaner in Amazon is doing so well than a bank manger in Nigeria
Even before I started school and all that I’ve access to benefits in both ups and Amazon but I picked Amazon cause their benefits are top notch
If you’re not a billionaire or a millionaire in Nigeria you can’t even think of having a life insurance
As I’m talking to you I’ve 246,000$ worth of life insurance which I service with just 0.34$ every week to stay updated so when I die my family will have something to fall back on
I got all this as a mere warehouse worker
I’ve not even mentioned other benefits cause you will be shocked

Here in America you can be a school dropout and still make six figures
No one is bigger than anyone here
If you like drive Lamborghini no one cares

In every country they have their own up and down but you see america, Canada, Australia, uk, New Zealand, Norway,Switzerland, Denmark, Poland, Sweden, Germany, France, Italy are better but America na the king of all

Do with this little information how ever you deem fit
Those who have eyes let them see

I do appauld/admire developed countries' elites for ensuring there's upward mobility, to a large extent meritocracy and rule of law. But that cleaner in the US doing better than a bank manager in Nigeria isn't the right comparison.

P.S. I applaud you for what you have achieved.

Jamesclooney:
It’s too late bro. Japa is now out of the reach of average Nigerians, just exclusive to the wealthy now. £ is 2,150+ today

Shawarmagirl:
What a caregiver earn here in UK monthly, is Nigeria bank manager 3 months salary.

In otherwords, what a caregiver earn weekly, is what a bank manager in Nigeria earn monthly.

Chineke nna!
This is a wrong way to look at things.

The toilet cleaner in the UK spends in pounds, while the bank manager in Nigeria spends in naira. A better comparison is between a caregiver in the UK vs the caregiver in Nigeria. A bank manager in Nigeria supercedes a caregiver in the UK by any financial, humanitarian and personal assessment.

cococandy:
It has to depend on the bank and the level of management

Bigger better bank, probably better benefits.
Like the general manager of diamond bank can’t be the same as one unit manager in sub division of the bank. Or even a small/medium bank.

That’s the problem with all these generalizations

Yes. It's why I asked my friend as I don forget how much Nigerian corporate workers earn. I hope she replies. Those days, I had the raw data but inflation and Buhari have rendered them obsolete

erico2k2:
Im not silly to ref Naira to pounds, I am fortunate to live in both countries and well equip to compare with no prejudice.
Fuel for a week cost average ofN100k in ur gen, cost Average of N100k a month in ur car.you might spend N500k on food in a month ,security might cost N60k,I paid mine N100k for personal reasons.so in NIgeria I can comfortably say to live a middle class life your outgoings might xceed N500K do you agree?

Fair assessment depending on location. And yes, that's a middle class lifestyle by Nigerian standards. Every bank manager earned more than 500K even before I did NYSC. So, by now, the minimum should be 1.5M per month. Bank managers are big boys in Nigerian corporate world.

faceland:
The only problem is, how can someone be a millionaire in Nigeria and then turn to toilet cleaner overseas. That is the hard adjustment... But the toilet cleaners already here can never reach there.

Then I doubt the legitimacy of the millions. Anyone who made legitimately made millions in Nigeria via career or business should not become a toilet cleaner in the abroad.

faceland:
Can our bank manger afford house in USA purely form their honest salary (without stealing)?... I know a toilet cleaner whos children are in private school here in Nigeria. I am sure they can return and buy house here.

Most of the houses the toilet cleaner buys are in run-down, God forbid-God-Punished-areas in the US. A bank manager's children attend good private schools in Nigeria and he owns landed properties in the country. What do you take a bank manager for in the first place?

Compare a toilet cleaner in the abroad to a toilet cleaner in Nigeria not a bank manager as that's a lopsided comparison. No toilet cleaner in the abroad lives a better life than a bank manager in Nigeria. That's absolutely ridiculous!

Antivirus92:
no, he wouldn't.
But kids from his region will always come out top in any examination in the same country despite going to school only four days a week.

Do you have empirical studies to support your claim? Children of bank managers attend some of the best institutions in Nigeria. Some of which I dare say are better off than schools owned and controlled by the UK government. Except for private schools in the UK and selected public schools in some areas, it's better to study at a top tier or even tier-two secondary school in Nigeria.

OgaTheTop2:
So, mortgage is not a home? Toilet cleaner has a better home than she can get in naija. Know this, know peace.

Yes. But not better than a bank manager. You people really under-estimate how much permanent staff at banks earn. They earn well enough by Nigerian standards.

A toilet cleaner in the abroad better than a bank manager in Nigeria? Ah! God forbid! Some comparisons no be am abeg. Please don't say this in the physical public o

erico2k2:
What is the average salary for a bank manager that you know, state it

When I was in Nigeria, I think the manager at my parents' bank's branch earned more than a million or 1.5M naira per month. Unfortunately, I don't have exact figures. I will ask a friend. But assessing the friend who works in one of the top banks in the country, as at 2019, she participated in the bank management trainee programme where she earned 250K+ per month. Stanbic was even paying graduate trainees 350K then (rumoured to be the highest then amongst all banks). So, now, a bank manager shouldn't earn less than 2 million naira per month, I strongly believe.

P.S. Please don't mention the naira to the pounds or dollar as those currencies aren't spent in Nigeria. Bank managers earn in naira and spend in naira.

Bankowner:
And what do you say about a banker who has worked over 20 years and still doesn't have his own house? Impossible, you will say. But it is true. And not that he is wasteful or anything.

Not a bank manager as the topic states.

Not this topic again!

No toilet cleaner in the abroad lives a better life than a bank manager in Nigeria!

End. Of. Discussion.

BALLOSKI:
In 2021, I was seriously involved in the movement of cocoa from Starlink yard on that Apapa-Oshodi expressway. We were moving the goods to Calabar port to be exported. I think there was issues with congestion at Apapa then, so they opted to ship through Calabar.

Why am I giving you this background? As a Nigerian, it's a thing of joy to see the number of Nigerians - both young and old- working there; the sight of those women sorting and sewing sacks give me joy. It's also a sad reality to see that, as a nation, we can't export finished goods, we export raw material and in turn import finished goods. It's disturbing. This is the same template being deployed in the oil sector.

We can, but our competitors are Vietnamese, Indians and Chinese who have the advantage of a wider supply chain, technical know-how, governments who back them to the end, trade agreements with major consuming nations and cheap loans. Cheap loans are very important because manufacturing has a long gestation time to break-even and profitability. But for cocoa specifically, I don't see us usurping the EU on a global scale. The best we can do is to focus on the consumption in Nigeria and neighbouring countries. We even import palm oil to the tune of 20BN+ from Malaysia alone!

IbeOkehie:
Property rights are vital...look what happened to....Dangote with his refinery and Atiku with Intels. And the Landmark guy in Lagos.

I've told you the story of a diasporan dispossessed of his 1000 hectare farm in Abia..and it was the local community and not the State government that ripped him off. Anyway lots of factors. Including foreign protectionism. The solution to that is to grow consumption in Nigeria by encouraging free markets which enable private enterprises to thrive, which will encourage job creation that stokes consumption.

Fair enough. Maybe to stem the tide of government instability, free trade zones should be established in each region and offer investors the freewill. Lagos and Ogun do this very well. In return, industries are present and jobs are created. Just yesterday, I read a 2016 paper on how Chinese investors are utilising this concept to produce goods in Nigeria and transfer the know-how. Benin Republic did the same in a bid to process cashew nut before eventual export in partnership with an investment fund focused on Africa. Here: https://www.ariseiip.com/under-construction-industrial-zones/ This partly solves the problem of protection of private property. I once thought of telling a senior classmate who is now a Special Adviser to the governor of the state to enact. Nevertheless, the fuel subsidy has to go as well as other subsidies. If these people had allowed Jonathan to remove it then, I doubt people would be experiencing having to buy fuel at 1000 but cannot even see the fuel to buy!

I don't think Nigeria needs a lot of foreign markets. How many cars are sold in Nigeria, how much fresh milk is consumed and how many good houses are needed? Trains, airplanes, gas stoves and fridges? What about roads, public water and sewer systems?

To design and produce those stuff needs constant electricity. But seriously, why are Nigerians against the removal of subsidies? If electricity subsidies should be allowed, it should be ONLY for manufacturers in industrial complexes. Consumers in residential areas should pay out of their pockets.

anonimi:
If Europeans copied things from Asians to become better and dominate everyone, then why can’t we do that through the proselytising work of Africans who are exposed to Asian and European culture

Well, it is what I have always advocated for - East Asian way of doing things. With what I have learnt and seen, should I live in Nigeria, I will organise things the way the Chinese and Japanese do. What annoys me is how politicians and their highly placed supporters and friends, aka other elites, do things even after studying and living in the West. It annoys me really well. It is not like these people (East Asians) have two heads. Why do things work so seamlessly over here, but cannot over there even after many years of trial and error?

Honestly, it is annoying and sometimes heartbreaking.

Bobloco:
Are These countries you mentioned oil producing countries?

Remember, Nigeria is the sixth largest oil producing nation in the entire world

Nigeria is too populated to run a subsidy, not necessarily because it is an oil-producing nation. Petrol prices are not subsidised in the US - a top three oil producer ditto Canada. Before you mention Saudi Arabia, please note that it is racially and religiously homogenous and a thriving monarchy.

My own is in Nigeria, where is the fuel with octane value >90 sold in the country? I don't see why a car should be driven in a place where the basic fuel requirement isn't supposedly available.

IbeOkehie:
Oga Gerrard how are you? I hope you're well.
The major reason for lack of value addition in Nigeria and Africa as a whole is rigged currency markets.

I think electricity and infrastructure and such things are relevant but not the major constraint. That telecoms providers, banks, broadcasters and cement manufacturers and even Starlink itself can function profitably in Nigeria right now is enough evidence.

A controlled currency is one of the bottlenecks, but unfavourable trade agreements, no protection of private property and instability in governments and its policies also contribute. For instance, the EU subsidises its farmers heavily. How can we compete against such? South American nations do compete favourably against American and European agribusinesses largely because of cheaper labour costs and consistent and favourable government policies. The question is why can't we copy South American folks?

Another thing is the will to invest. Why haven't those who studied in the abroad, gained expertise and finance invested in industrial capacities enmass across the continent to usurp the likes of Vietnam as the favourite country to process cashews and export to the EU and the US? Most of the cashew exported from the continent goes to Vietnam and India where entrepreneurs there invest in factories with approval from EU, Japan and US regulators. Why can't our people do the same.

Well, as long as Atiku was in the race, Peter Obi was not going to win the election. I stated it here but his arrogant and ignorant supporters insulted me. Come 2027, if he decides to contest the election, he will lose and woefully as usual.

Tightpussy2024:
Yet you @gerrar.d59 will believe the single Izu case of false rape accusation counters these.

Should women insulting men,you will feel Andrew Tate is the balanced match and is only revenging feminist,wheras feminists rage can never be enough to balance the atrocities women have endured.

The feminism as promoted by feminazis went to the extreme. It resulted in the emergence of red pill men and Andrew Tate. I had the feeling that some persons would emerge to retaliate because these demons women had the freedom to accuse any man at will. For a every action, there will always be a reaction.

When women were discussing their rape experience,many talked of men using relaxer and aboniki as lubricant to make penetration easier( that was the only thing in their reach). See women with torn private parts as men use to cut through for easier penetration. I didn't make this shit up,a visit to govt hospitals will prove this.

I support stiff penalties for rapists. Very stiff. Also, I admit that should the penalties be stiffer, MANY men in Nigeria will go to jail no matter how flimsy the act is. And should a crime record be attached to one's existence, it means many men will be rendered unproductive as no firm will employ them or financial institution lend money to them. A Nigeria that works will have lots of people in jail or be hanged. That is it.

IbeOkehie:
The refineries will NEVER produce as long as they're owned by government.

No, you can't fix your refineries just like you can't fix federal universities and Ajaokuta Steel and National Stadium or NTA or NIPOST.

Impossible. Because nothing owned by government ever works in ANY country!!!

Good Luck to Nigeria

I beg to disagree. Singaporean Airlines is majority owned by the Singaporean government, just as Ethiopian Airlines is owned by the Ethiopian government. Both are largely homogenous countries with a dominant racial/ethnic group. In Singapore's case, Chinese Singaporeans are way more intelligent than every single Nigerian (including myself). Nigerians are too incompetent to run a functioning society!

The country should be sold off to East Asians for effective management. Nigerian men don't have the mental capacity to run a functioning society. Having long preek doesn't translate to wide grey matter. We just don't have it and we should acknowledge it.

IbeOkehie:
n 2023 he had no choice but to devalue and stop the subsidy. ALL the other candidates would have had to do EXACTLY the same thing.

The real opportunity lost was in January 2012.

Good Luck to Nigeria

This is what they have consistently refused to acknowledge. It is a reason I doubt the intelligence of Nigerian men and Nigerians in general. I am always wary and dismissive when I hear the phrase "Nigerians are intelligent people". That is a lie that has gone too far.

santaclaws:
You don't understand what you're writing. I am a fully qualified economist (graduated top of my class in one of Nigeria's most prestigious universities) no bragging...

If you're saying they shouldn't pay the new minimum wage (while earning in USD) and also not pay subsidy, then what template are you proposing to keep Nigerians alive? You do understand that the essence of the minimum wage is to prevent worker's exploitation and that Nigeria's (new) minimum wage still remains one of the lowest in Africa right?

Please mention the name of the school and what grade (CGPA) you graduated from and with?

Tinubu took two economically-important decisions simultaneously, without fully understanding the macroeconomic by-effects. If he had removed subsidy and kept the Naira value (controlled) or devalue the Naira and keep paying subsidy (which could be gradually removed, coupled with strong economic reforms), it would have been a good idea...

I doubt your credentials if not you would have understood that controlling the value of a currency is a bad thing to do especially for an unproductive economy like ours. Subsidy has to go, no ifs or buts. Tinubu is at fault because he kicked against the same plan enacted by Jonathan. The reason I am glad he is going all these travails. Karma is well deserved!

Championhala:
the problem wasn't the subsidy but the skyrocketing population making it hard for the subsidy to be feasible. Even if somehow we found a creditor and subsidy remains for like 20 years more, with this current birth rate each Nigerian would be asked to either donate or be forced to pay n a worse case scenario

That is the more reason the subsidy has to go: Nigeria is too populated ad very diverse across ethnic and religious lines.

Toilet elites! I have never been fond of them. Too unintelligent! If not, why do you call yourself an elite when farmers are butchered in your region with reckless abandon?

Believeintruth:
Did i tell you they are my enemy? Come of it, you guys should stop being childish and foolish at the same time. I know these guys are wealthy and kudos to them. It is the poster that i have an issue with no one has bothered to decode the intentions behind the Op who posted this. The guy FreestuffNG is a known tribalist and he loves to post things with deception in mind.

I know his intentions, but that should not becloud the actual news - a Nigerian company generated $1BN via commodity trading. Focus on the news as nothing you or anyone will change FreestuffNG's sick ideology.