₦airaland Forum

Goke7:
This was what Mehdi said at the No Kings Protests in the US;

'The great irony is of course that Donald Trump is the son of an immigrant. The grandson of an immigrant and married to an immigrant. In fact two of his three wives were immigrants, proving yet again that immigrants will do the jobs that even Americans are not willing to do'

If Trump catch Mehdi, na OYO e dey o

Hehe... brutal.. just stumbled upon the short.
Mk I go find the video

skydiver01:
....
That said, in general and regardless of what people may be chorusing about (high or low rates), lower rates support real economic growth notably by reducing the cost of capital investments and borrowing. Some refer to this as to support Main Street economic growth (all things being equal because Nigerian commercial banks don't necessarily bring down borrowing rates sufficiently to reflect levels in the bond market)...

Well said. I agree with you on this

Foodempire:
The is my concern, cost of things are not going down but rates are being sliced every two weeks. The price of regular Uber corolla still stands at 9-10m, how are we benefiting from this so called low inflation only stated on paper but not being felt by the citizens?

This is a common misconception. Prices are still rising.

Inflation dropping from 30 to 20% does not mean prices have dropped 10%. It means the rate of rise in prices have reduced. I.e whereas things were increasing by 30% every year, they are now increasing by 20%.

So the 18% being touted though an improvement is insanely high.
To put things in perspective, at a steady 30% inflation per year, your naira loses half of its value in 2.5 years. At 18%, it's 4 years (i.e, the rule of 72). Infact, that's something to remember when praise singers want us to celebrate the 18% that's impoverishing Nigerians at an astonishing rate.

Taking the Corolla example you used, though inflation varies from by sector to sector and a car is not a good example as it has an underlying devaluation and it's s price is partly dependent on forex, but to illustrate, if annual inflation sits at 20% in the used car sector, all it means is that prices today are 20% higher than last year. Not that prices have dropped. We can then extrapolate that if car inflation this time next year has 'fallen' to 10%, that corolla may be worth 10-11m

Actual drop in prices is called deflation

ferfer:
@getting your place on expiration of lease - that is a good plan which requires that a lot of things fall into place. If you have to wait, it is better for the lease to expire and be on a month by month 'contract' (this is more expensive) than to break the lease - in which case the damage deposit is gone. Please watch out.

True. I'm planning to start looking late winter and buy in spring. So hopefully, it'd be one or two months overlap. Would start looking online soon e.g using realtor

I never got the rave about Rav4. I know it's a reliable car but internals are rather basic and it being the default vehicle for taxis in Canada put me off. One

I see your point- paying interest on a higher principal would add up overtime. I'd be asking my broker to run all the scenarios when the time comes.

Broker comparison is the kinda thing AI tools are good at. Would raise a querry and see.

olubams:
I want to believe the premium is for the lifetime of the mortgage because the premium is calculated based on the total amount of the mortgage.

The limit on RRSP is based on the income earned in the reporting year. So as an entrepreneur, your limit would be based on the amount taken as wage/salary from the business. So with your accountant, you could do a proper planning such that, you create a benchmark to maximize RRSP at the same time not push you to the higher tax bracket from salary while allocating the rest to come from dividend and you do not get RRSP room from here. CPP is based on salary alone and it does not have any relationship to RRSP.

Fair enough. Just had discussions with my accountant.
The CPP contributions I've been informed is a more pronounced cost as I'd bear both sides of it (employee and employer) - reason why many just opt to go dividends alone and make investments via a Holding co.

ReesheesuKnack:
As seen on LinkedIn

PS:
I am not endorsing or marketing. Just posting something that may be useful to someone

Interesting. Had similar discussions a while back. It ended with me asking the bloke why folks aren't chasing Argentinian government debt with 'massive' yields
When I see a country offering 20% in government debt, my initial question is why? Except one catches the tide tide well e.g with the recent naira devaluation and frantic dollar hype followed by high rates and a steady currency, otherwise such moves usually come back to bite. The last time 9ja offered such rates, many forex holders who delved in lost a lot as the naira devalued much more than their gain.

If like in this case, the person is relocating, then all good but personally, I'd still hedge my bets.

Goodenoch:
Found this hilarious. You will, too: https://www.instagram.com/reel/DMa-AbsOPqg

Worth watching the whole debate - it was masterful. Mehdi is good.

It's quite easy to scratch off the underlying meaning of commom catch phrases

domin8:
Hi all, Please can anyone please recommend a reliable and affordable Builder in Leeds. No cowboys please 🙂. Thanks in advance !

Have you tried Mybuilder?

I've found it very good in getting tradesmen. You can post you job and have them contact you or you invite them. There are reviews e.t.c

Raalsalghul:

Its surprising when I see folks fawn over European migrants, the good old days of EU migration and how those eastern Europeans 'integrated' and assimilated the culture. I'm usually like - is it thesame country we're referring to? Take any headline today and change the current migrant population to 'Polish migrants' and boom we're in 2014. People complained how half their town only spoke Romanian. Any progress in Poland was put down to the money Polish workers sent back home. Not even touching all the tripe about 'taking our jobs'. One of my favourite headlines is pictured below

Interestingly, same attitude has been seen in different countries at different times. E.g it's when the Irish or Italians moved to the U.S, many were hated but today, na them be examples of 'model migrants'
Don't be surprised that in the next few years, the narrative would be how integrated those Nigerian migrants were.

emmasoft:
@Jedisco your observation is correct, the truth is that both regime are beneficial but the low rate regime is better because it actually means better value of your currency. The high rate regime benefits those with so called hot money both local and foreign and generally the fixed income investors, low rate benefit is general even the man on the street gets the positve benefits. The equity investors are expected to smile too.

While high rate has some advantages particularly to some segment of investors, the low rate has better and it's prefered.

In all as I will always advice don't stop investing but you can always change strategy.

Im referring to the economy here.

An advantage could be crafted out for anything even the insecurity menace today is benefiting some people. That does not mean it does us any good.

In todays world where money is printed out of thin air, high bond rates are a clear sign of a weak economy and should raise serious questions from the populace. Instead when rates were high, people were telling us how it's good for the economy. Now it's going down, were being told to rejoice too. The focus seems to be on singing the praises of the government even if millions of Nigerians become more impoverished.


P.s I'm not against temporary high rates when done appropriately and as a last resort to stablise the market but the reason why we got there should be clear so same mistakes don't repeat.

HustlaOfLagos:
I am just waiting for the full implementation of the 10 year route so everything is final. I would honestly like to see who else they will blame after all is said and done.

They blamed EU and left

Students have gotten stick
Legal immigrants have gotten stick
Illegal ones have gotten some too

..Maybe they will point at the US and Canada next

Hehe... things can still get alot worse.

After the 10yr limit is implemented and people don't feel their lives are better, houses don't get cheaper, wages don't shoot up, there is still road traffic or NHS still has problems, then folks would turn around and still blame new migrants for their woes narrating how migrants of 2020-2025 were true contributors. 15yrs perhaps or a complete stop to citizenship by naturalisation might be be the next call. Afterall, Saudi Arabia does xyz.

The main thing that'd stop this rally would be if it's shown to affect the economy
The chap who during the riots blamed me for not being able to buy a house/car has still not done so since I left but has however moved on to the next migrant as the reason for their woe.


The buzz word today is 'uncontrolled migration'. Even in countries like Australia with minimal undocumented arrivals, the media is chorusing the same. The interesting thing with some of these countries is that their rate of population growth today is less than historical standards. The only thing is that those coming in now are brown.

skydiver01:
"Why the Drop in FGN Bond Yields Signals a Stronger Economy
...

Not against the narrative of your post but it makes me wonder.

Over the past years whenever rates shot up, we had people chorusing how that was the best for the Nigerian economy saying it'd bring foreign investment. When questions were asked where the money to repay would come from, it was rebuffed. Now the rates are dropping, another group is telling us to be happy. Just wondering how we marry the two.

Secondly, if rates start to rise in say 1yr under this government what would folks now telling us low rates are good say?

Princedapace:
I am actually in support of this move. This does not make me ass licker of whites. I support them for loving them selves unlike us here where we hate, fight, and disregard each other becus of tribe. So, is there any difference between racism and tribalism? None.

That you need to fix something at home does not mean you'd support something that'd hurt you outside

What caused the worst wars known to mankind?
Until the end of world war II, europe has seen war between different tribes for centuries.

Zahra29:
📢 UK Government: "PSW/Graduate route to be cut from 24 months to 18 months for applications on or after January 1, 2027"

https://www.gov.uk/government/news/migrants-will-be-required-to-pass-a-level-standard-of-english

Other changes include
- Increased financial requirement for student visas
- Increased English requirement for skilled worker and other routes
- Expansion of the High Potential Individual (HPI) route to graduates from the top 100 international universities

This is all totally expected and was the obvious direction of travel. Like I've said multiple times, cutting students numbers to whatever target is easy- it could be done in an afternoon. There was a swing of the pendulum to one end (i.e stopping PSW) and numbers dried up. The rebound swing to the other end caused a boom. The question/focus for the UK government now is how much can be milked from students while still retaining the needed talent and numbers needed to support the economy.

If with this change numbers remain steady, then expect more tightening and higher fees in a few years. The push will only stop when something breaks

Zahra29:
Je ne sais pas.
You could try increasing your sample size though... E.g. kids and other relatives of colleagues, friends, township members etc...you might find the Suelette,Kemi, Judas you're looking for.

Hehe
I'd keep looking. I would find when/how the belief takes hold. Only then can we begin to fashion a cure. Was hoping you'd help me though.

Good riddance.

A further step would have been to make them play some home games behind closed doors or on a neutral ground. That way, the fans would think twice before rushing out.

Gerrard59:
Or they return to their home countries after the education obtained from the UK?

Aside from Anglophone countries, where graduate education has become an enterprise, in most parts of the world, you receive education and possibly an internship, and then return home. If the UK tightens its post-school pathway, what would the students do? Protest against in a country that is not theirs? Should someone decline an offer from Oxford University simply because the post-school pathways have been tightened?

Anyway, I don't fully blame those students. If the Brits had put their yansh in one place rather than colonising almost the earth, maybe this would not be happening.

The 'anglophone' or rather western nations aren't doing anyone a favour by commoditising education in same way the U.S isn't doing anyone a favour by having a monopoly over certain tech. The UK restarted the PSW visa cos it was clear they needed to provide a migration pathway to attract the students they need. It's always worth remembering that students are here cos the UK allowed and needs them. Education is a front door to modern migration and most migrants who moved as students have sacrificed more than most migrating folks have in all of human history.


Ultimately, those that pay also influence the market. If the UK makes it too difficult, students will vote with their feet. We've been there before. It's up to those paying 20k for fees to determine what value they deem adequate from fees they pay.

Kushites:
It’s based off NOTHING.

Just some white kids in America (this kind of stuff ALWAYS COMES FROM AMERICA, nowhere else), white racists that sit in their mum’s basement and post anti-black TRASH like this.

AND THEN NAIRALAND, OWNED BY THE SAME WHITE SUPREMACIST GROUPS, posts in their Front Page.

Quite despicable. Folks would get into problems stating this in many nations whereas Nairaland has decided to make it a frontpage topic on repeat.

The kind of things one sees on Nairaland. It's quite easy to brainwash many to see themselves as inferior. This keeps getting reposted with no one asking basic questions.

No wonder many have low self esteem.

What was this study based off?
How can a study conducted online across different nations with different internet penetrance hold water?
Even in the scientific community, there's so much debate on what actually is intelligence and how it can be measured.
Messi has proven himself a genius. It doesn't matter what an some test says

Imagine. The NFL should put an end to this. Fines should be steep, points deduction, playing in empty stadia e.t.c

Interestingly, during the recent conversations here about changes in visa rules, I did not see much along the line of .. 'afterall Saudi Arabia does xyz so don't complain'.
Folks used to cherrypick the worst rule in every society as an excuse why we should eat whatever we're served. Times have indeed changed

Goke7:
May our people receive sense and know that these opportunities are scarce and will not always be there. I know so many regretting now. I know folks who got Canada ITA here in this UK just two or three years ago but didn’t take it thinking they were super comfortable, now they are back in the pool praying night and day for favour. The same care pathway has been a stepping stone and blessing for so many to move to sustainable careers and better well being here in this Uk and other places in the world. It’s all about perspective and clarity about your why!

Hehe. I hope UK retains a reasonable pathway as many masters students might get stuck or see themselves repeating masters and phd on-end.

If I was in Nigeria today and looking to study abroad, I wouldn't be prioritising the UK.

HustlaOfLagos:
Fortune indeed favors the brave

Several years ago, I also didn"t move as "I No wan become 2nd class citizen for another man country" along with all manner of excuses all because I was relatively "comfortable" with how things were. I still have friends clinging on to the same mantra right now in Naija and honestly, it can work for some, while others will have to go through it the hard way

Folks that moved in 2008/2009 were already settled when I decided to leave in 2021. Nothing those guys didnt tell me then, they even gave me schools to apply that didnt cost much in the US etc but I didnt even bother to check them

When person wake up, that na in own morning

Na true u tok.. its one thing I've come to see with time. These days I no dey stress to convince folks. When people are ready, they'd act.

Also, I dont want to make it look like it's always a travel thing. Only that people should own their decisions. I have colleagues who I worked with and are content working in a small northern village providing service. I applaud them and would never see them as failures. Life is for living afterall. Where I draw the line is when folks start to make excuses for not taking opportunities.

When I was talking about Cana 2 ys ago- responses were in the line of... 'the grass is not greener', 'you're chasing utopia', 'its same everywhere' etc. Even when I tried to explain that conditions could be better or worse but hardly thesame, responses made it look like one was chasing a fairy. Now man has gone and seen, its then moved to man of 40 with kids cannot be moving about.

HustlaOfLagos:
I just looked at some of the replies to the guy's post and I just dey shake my head.


At the end of the day, I always remember something a classmate of mine said in 2023 that sounded like a joke but entered deep into my brain --

"Na UK be this. If you no ready use your brain upskill, na you sabi. Either you use your brain, or you use your body till old age, na you go choose one"

Every mallam with in kettle and we can all do what works for us

Fair enough at the bolded. Life has no one recipe for success.

Generally, people make decisions and then seek reasons to justify them. In the past, I used to get triggered when folks don't take visible opportunities only to give excuses later. These days I don't mind as much. A free market should reward those who are able to identify such opportunities and take the risk.

Two instances-

A colleague who once helped me out of a fix in 9ja was looking to move to the UK in 2020 ish. When I heard his plan, I follow give the guy ginja. I sent him money to help with part 1 of our two part exam cos he asked. Chap never took the exams then as he found an excuse. On subsequent conversations, it was one excuse after the other. Ultimately told him to make up his mind and act as he wasn't progressing his career back home eitherway. Since then we hardly spoke only for him to reach out to me this year in dire straits as he was needed some finiancial help to take the second part of the exams. He's now passed and was expressing regret at him delaying stuff. He sees the tide has changed and the doors are closing. He'd now need to work terribly hard to get what his mates got relatively easily years back.


Of late it was the Canada PR pathway. When special healthcare draws were introduced, it became popular in my circle. Some of us applied 1-2yrs ago and the scores needed were much lower and was quite clear they'd rise in future. I tried to push a friend who was already considering moving to apply. Chap told me he was looking at moving in 2027 and getting a job wouldn't be an issue so he didn't see the need to. He made it sound like the opportunity would always be there. After I moved, was surprised to hear he was imminently moving (but on a work visa instead). He had got had tired of the UK. Now the scores needed to get the PR draws are much higher and he's struggling to get nominated via a province as the limitations of being on a visa become obvious. Applying for a PR when the opportunity was being dangled would have made things much easier for him.

Goke7:
My sister parents in-law migrated to the US years ago in their sixties after her father in law retired as a top management staff in one of Nigeria’s mega banks. It was so strange to me then in fact we had to rush my sister’s marriage ceremony then as the man threatened we may have to do the marriage without them if we don’t hasten up, we think say na play o 😂. Apart from his house he sold every damn thing to migrate. He’s almost 80 now living the best of his life ...... The issue is understanding your why and clarity around your objectives with no pretence and reliance on what others think.

Well said.
People do it. It's only less common among the black community.
Infact, I only started taking the care pathway serious after a colleague used that to bring her parents in (I suspect). Folks had just retired in 9ja and built a house with proper opening ceremony. Within a year, I heard they were moving over - first thought it was a visit- only later got to realise it was full relocation and house was on the market. Baba is posting pics on the regular now. Ticha - a former regular here put her house on rent and moved to NZ with her kids cos she loved it. Vitually all my colleagues who moved over are married with kids...

I don't even want to make it a travel issue because it hardly is. It's all about unapologetically taking opportunities when they arise.

smartkester:
Hello everyone! Please who has an idea if Saskatchewan has done any PNP draws lately? I've been in their PNP pool since December last year and nothing yet up till now. Minimum score to qualify for their PNP was 60 and I got 65. It's still the only PNP route that seems easy to get because other provinces are demanding job offers. Please I would need more information if anyone has in this regards

Sorry I brought this here because no one responded to me on the main thread

Just wondering. Don't they post dates of draws on their website (even if its after ut has taken place)?

Ugmama:
Guys I see people talk about LISA account and other accounts that one needs to keep till 60yrs. I kept wondering why I should open up an account and keep it until I’m 60yrs without being able to draw. I am not up to 34 and I personally don’t fancy it. What if I need money at 50 for something. I will be charged back my earning and my own contribution as well. Omo life no balance🤣

The government rebate is one. The other is that the money grows tax free.
If you really need it beforehand, you can withdraw and pay the 25% fee.

It's a tool to plan and save for retirement. When young, it's easy to see it as something distant especially if one is a migrant. However, most of us would ultimately get old and we need to plan for retirement. I doubt the socialist state is this robust as it is now when we get there and even if it is, having your own savings gives you lots of leeway.

olubams:
Just to add some thoughts

a. To avoid the mortgage premium would mean putting down minimum 20%. It comes with some cost though. Because the mortgage would not be insured, it is more risky for the bank so your interest rate would likely be higher than an insured mortgage because they would factor this into the rate they would give you. You might want to do the calculation by comparing the rate with someone who is dropping less than 20% then see the amount you saving or paying more in interest. You can speak to a broker to paint the different scenarios. If I am the same position, I would do the hybrid approach. Pay less than 20% and the insurance premium, lock in lower rate, get refund on the premium paid for energy efficient houses, then pay it back on the loan itself.

....

Interesting. The bolded never crossed my mind as I just thought the lower LTV would get a better rate. But looking at it thru the eyes of the bank, it makes sense though given that an external body now guarantees the loan. But for insured mortgages, does that insurance last the lifetime of the mortgage or carry on is one switches lenders in future?

I gather the issue with being an employee of ones company is that you pay both the employee and employer part of the CPP. The alternative is to take dividends but that excludes one from RRSP. I can oly wonder if the CPP and additional income tax on wage taken are made up by the RRSP and CPP.

safex:
Yes, I have a handful of them

Nice. Not ready to buy now but a breakdown of the whole process might steer people to consider it

bigpicture001:
Why is the camera man hiding the white man.. the technology of solar panel manufacturing is not easy..

So where is the white man responsible for the production..?

I mean the Chinese

Small mind. You think non-white folks can't make solar panels?

Jamesclooney:
See, that guy is not serious. I been Dey gbadu am before but he just pontificates and discounts other perspectives (no humility).

Even this japa to UK, I know how hard it was (so many missed occasions with family, cultural differences especially with raising children, dislocated long time friendships etc.)…then as I’m settling down, I will now Japa 2.0 just at the drop of a hat without something pulling or pushing me 😂 He’s talking from his own vantage point jare. To each his own

Hehe... our views are be different and everyone sharing theirs doesn't necessarily mean their hauty. We all see things differently.

OmichaelO:
thank you so much,

It was revisited

So we got 4.12% and offer has been accepted.

Awaiting contract exchange.

Congrats newest landlord... your rate is not bad as they have ticked up recently

HustlaOfLagos:
Again, I will always say "Excuses are easy"

Lots of people got that soft landing and still didn't do anything with it. A lot of students didn't get any soft landing but they researched before coming, right skills to seek etc

Well said. Trying to balance individual responsibility and wider factors at play is always walking a fine line. Its difficult to say these things without sounding hauty. I'm keen to point out wider drivers of inequality which is the reason I'm strongly against visa changes that impoverish migrants. If I put ants in a bottle and make it such that only one can escape at a time, it does not matter the hardwork they put in, they'd largely be stuck. One is not oblivious of overlying constraints.


I remember when this thread was full of posts about how difficult the driving test was. It got soo much that one had to point out that this exam was not hard. The illustration I gave recounted how when I first arrived this country, in the same class where someone lamented how the UK system was complex and how many times he had to take the test, a compatriot of his used thesame test to illustrate how the UK system was straightforward and non-gimmicky stating how the test would take you along known routes and ask you to do thesame thing your tutor had shown which wouldn't have been the case for a similar test in India.

Recently, I was trying to convince a migrant who is well read to promptly take an entry-level test in the UK so as to advance their career. The lady was more interested in telling me how hard it is and that they'd need at least 9 -12 months to prepare. I had to explain that this was a basic test that even those with learning issues are able to take and pass. Or is it someone who came in via a dodgy care company and had rebuffed all pleas to seek roles in different parts of the country. Next thing was that the sponsoring company's licence was revoked. Lady is now willing to work hard. I once had to work with a Nigerian in his late 60's/70's who had been here for a very long time but for some reason was stuck and didn't progress. Wetin 20yo girls take papa eye see was not nice. Examples abound- reason why I say, some get it, some don't.


People might think healthcare gives some succour which can be true to an extent. But then, its my experience there that makes me say certain things. There are alot of squabbles going on there without much public attention. As a migrant medic, some locals want you to come and suffer doing hard jobs for life while they progress and galivant. It's left for one to decide if they want to or not.