₦airaland Forum

Grupo:
Lol.

He forgot to tell people that he's from Ákwá Ibom.

So he probably got a slot to work in one of the oil companies operating there.

Now, imagine someone like me, from a remote village in Ebonyi state. My options would be similar to yours. Either be a primary school teacher, secondary school teacher, palm wine tapper or Okada rider.

Barrytone:
Just watched an interview on CNN where a bar tender is complaining about 600 dollars given as unemployment benefits and that it's not enough. I did the exchange and I know you know better, a Nigerian bar tender doesn't get that but anyone getting over 200k naira in Nigeria should be among the average citizen and has no right to complain but build from there. I think even with 1k dollar life is still miserable over there but with 400k here, you are the boss. Before you leave your banking and other paying jobs to go attempt the hustle in the west just know it's either crime or luck I your portion. I don't work on luck.
Growing up, folks from Lagos will visit the village during Christmas with good clothing and few cash to burn the Christmas away. We the village boys will be thinking Lagos is eldorado. We quarreled with our parents to allow us travel to Lagos. After my waec, I traveled even against parents advise, got to Lagos and discovered those Lagos big boys were struggling extremely to feed, feeding that is free in the village, u can eat as long as I have stomach to store it. I immediately returned to the village and began seeing them just the way they are, no longer bother going to welcome them when they visit. I completed my school and they came again that all the job in this world is in Lagos and Abuja. I told myself if I can't make it in my village then no where else. I became a village champion. I stayed for about 6yrs waiting for the right job. While hustling the village hustle. In all, got myself a house while in the village but my Lagos and Abuja folks never got one. Luck met me in the village as my dreamed job came knocking and the rest is history. Today the Lagos and Abuja front are asking me for soft landing job so they relocate to that same village. Look around you, so much "dollars" in the streets of Nigeria just "bend down and pick" the right way. My family can leave, it's their choice to make but me, I go nowhere except for just a visit.

ahiboilandgas:
divide the calculation by 3 .....for salary of 100k and divide by 6 for salary of 50k

ositadima1:
It is doable. Let's assume he started lecturing at 24.

For a salary of 300k, if 20% (kept asside for investing) for the next 16 years ==> 300k x 12months x 16years x 20% = 11,5200,000 .

Assuming he is good at investing in real estate and stocks.

11.5 mil compounded for d next 20 years at 35% yearly return will be nothing less than ==> 11,520,000 x ( 1 + 0.35 )^ 20 = 4.66 billion !! .

That is 36 years of saving and judicious investing with God on his side. It can be done, I am trying to do this.

emmanuelewumi:
It is cheaper, get a good clipper and you can use it for 4 years

Leezah:
could this be part of the frugality.

emmanuelewumi:
Low patronage, because of Covid 19 a lot of people cut their hair at home. I have not visited the barbershop in 3 years.

Very easy to give myself a skin cut

Justcul:
@all, Morgan capital sent a message that you need to complete the KYC on or before 30th June 2020, scan and send back to them.


Edited!

GonFreecss1:
Hahahahahaha.

I really think arguments like this are a time for everyone to learn, me inclusive. So I don’t hesitate to share what I know, in fact I want to make mistakes and be corrected. I hope he learns a thing or 2.

GonFreecss1:
The argument was not which is better.

The argument was where to invest money. Lol!

Instead of you to rebuff the arguments with numbers you are busy shouting this is better.

Theconglomerate:
https://nairametrics.com/2020/06/17/naira-falls-at-the-official-market-as-government-reveals-plans-to-unify-the-exchange-rates/

The shithole is about to devalue again...
I tell you,you no hear...
I advise you,you no gree..
When the time is right my brother ehhh,telli person eh them no dey telli person...

Cyberknight:
I think in such a case, the "parallel" rate referred to might mean something like the I&E rate here in Nigeria, for example, given that we operate a dual exchange rate system, and that would be the only such exchange rate that can be determined.

deepwater:
This exactly is the confusion
I understand language can be conventional
But would these terms mean something else elsewhere outside nigeria ?

Should you sign a contract document with the word "parallel exchange" rate with a foreign person and expect to receive black market rate (aboki rate) at the end of time. Wouldn't that be disastrous considering the fact that those two terms might mean something different to your foreign counterparts?

deepwater:
Team
I have an argument over here and so I decided to get a wider view / contributions

Please is there any difference between the black market rate and parallel market rate in terms of currency exchange?

Theconglomerate:
No cash to give anybody now at that price o madam.
It's better you meet your aboki for any inflow.
They transfer to their foreign account and they pay you your naira,that is if you want naira anyways...
Dorm account now story full am.

Nigsrdumb:
Submit your investment ideas and strategies here, please note this is not a place for advertisements or scamming.

Feel free to discuss stocks bonds real estate and business ideas.

chigo4u:
Nothing. Just a local transfer

Theconglomerate:
I wanted to say this.
No one can access their dorm accounts now.No bank will pay you dollars now.
I'm sure if you request for the money to be converted to naira,they'll pay you immediately.
Reason I always advise against this.Dorm account is useless in times like this.
Better get offshore aza jejely.

chigo4u:
GTB is the best for dorm accounts in Nigeria, I don’t think any bank comes close. I successfully transferred over 5k today without any problems although cash withrawals was not available..

emmanuelewumi:
I pray things won't get to a stage whereby people can't get the money in their domiciliary accounts.

NL1960:
NNPC filling stations are all over the place. This was what the FG had in mind when they started flooding the whole place with NNPC filling stations. Moreover, i buy fuel for my car once in a week. I can easily buy during the weekend. Moreover, once NNPC sees he queue, they will open more or take over dormant ones. If Ahib oil and gas that normally sells a trunk a day now sells a truck a week and NNPC comes with a buyout offer, you no go sell?.

Theconglomerate:
Never?
I guess you don't drive German.
If you were,you would have known how easy it is to hit 220kph.
We are even planning to go faster sef,na money for better machine never dey

rationalmind:
I like quick and fast cars. You won't be able to brake yourself out of trouble eveytime, sometimes you have to accelerate out of it.

I can't take bends at speeds with an SUV the way I'll take a sedan. I also can't dodge potholes with SUVs the way I'll dodge it with a sedan.

Theconglomerate:
Maybe you don't drive fast.
If you were a speed demon,I guess you will know why we stick to sedans
You can't be going 220kph in a truck and not feel like you might somersault anytime na.

rationalmind:
Noo, I've always been team sedans. No SUVs or pickup trucks. I can't drive those the way I like to drive.

ahiboilandgas:
i don tire

Theconglomerate:
Me too.

deleson:
Hello,

Just checking if had a closure on this issue.

Also, I'd like to know (from you or anyone else with experience) if Eurobond payout are made in Dollar or Naira.

Thanks.

ahiboilandgas:
i dont want the naira getting destroyed cos it will hurt us all in the end ...