₦airaland Forum

babajeje123:
I know two people who had near death experience in the Northern part of Nigeria, and both are Christians. One had his head butchered by Fulani herdsmen in the middle of the night and left him in the pool of his blood. Thank God grace saved him. The second person, a lady, living in southern Kaduna then. While the Islamic Jihadists were on rampage when El-Rufai was the Governor, she took to her heels for safety and had no place to hide save a pit where they already dumped about 30 dead bodies. She jumped in and pretended to be dead. She was there for almost 12 hours before help came.
These ones, and many other Nigerians who were victims have a different opinion from yours. By the way, both of them are in the UK now.

Quite harrowing stories I can relate to them after living in the north and witnessing many riots.

The one that did it for me was when I witnessed a truck of bodies being brought to the hospital where I worked. They were the result of a riot that happened on the far outskirts of the city. As of then, the mortuary of other state hospitals around had filled up with casualties. I looked at bodies of young and old that had been butchered like cattle. I told myself I was done with that town. Not surprisingly, the government declared a local curfew and later claimed it was less than 10 that died.

If one has witnessed the other end of this menace, it gives perspective. It shouldn't take Trump to remind us the value of human life.

Goodenoch:
This has made me laugh so much this morning.

That first 1 billion monstrosity of a house in Pinnock has to be the most absurd thing I've seen in a long time.

The first house was truly an eyesore. At first, I thought it was something bespoke until it became obvious the house was just a mess. I dont understand the general love for all white exterior walls and concreted exterior floors.

The issue with investing in 9ja is the sentimental value it holds for us. Manytimes, the economical value fails to add up. There's the advantage of diversification and the fact that stuff in 9ja is out of reach from any western brouhaha should things go awry. But then, the currency devaluation and poor property laws remain an issue.

Buying in 9ja is mainly via cash. That 1b when converted to pounds would set one up with quite a few standard buy-to-lets in the UK. Investments one can retire on reap the reward of in any part of the world. To me, main advantage of property investment is leverage, without that, index fvnds are a much better option.

I also looked at the Air bnb ish but the maths didn't add up for the cost of property in good parts of Abj/Lag. However, I've heard of someone abroad who does this in Lagos- quite bespoke apartments. Chap reports it adds up. Afterall, little/no operating tax is paid.

Finally, e be like say na empty land e go be but that also has its issues. Even after securing it, one might return and see it's been sold off or bandits don relocate there.

justwise:
I see many ignorant Nigerians are celebrating this post from one of the dumbest president America has ever elected.

If America is allowed to attack BokoHaram and other militant groups in Nigeria then this is the start of our own Afghanistan, Iraq etc.

American military intervention in any country has never lead to peace, infact all the countries American troop went into is now in the hands of those they went to fight.

The little peace Nigerians enjoy now will be a distance memory if Trump is allowed to carry out this threat.

With the way things are, the killings and desensitisation to them have become too much.

Without being a fan of Trump, the Nigerian government has failed to step up and address this. Yet, our politicians increasingly feed fat. I cannot in all honesty tell someome who has seen their family and many more murdered not to seek help especially if I'm not providing a reasonable alternative.

With what I know about the north and direction of travel so far, this menace may ultimately lead to the end of Nigeria if not well handled.

https://www.youtube.com/watch?v=W89rWOKzOCo

Thinking abour real estate in 9ja always wondered why the risk/reward sometimes didn't add up.

This was a good watch. Where do folks think there's value to be had in 9ja?

Ohraykon:
Hello good people, my student visa interview at the UK embassy is tomorrow, I don't know what to expect but i have some documents of past interviews questions. Please can you guys help me with guidelines because i am really scared! thanks

First, though it nay not seem so to you, one needs to understand that the UK wants students coming in.
There would generally be three ways why you might not scale thru
First, your nerves- easier said than done but you need to gain some composure.

Secondly would be external factors such as predetermined outcomes or quotas which you largely cannot do much about.

Lastly would be documentary errors which is where I hope you have all documents in order.

Another period of oversubscription just like with Buhari? Hehe.

Does not surprise me the rates are not mentioned in the article. Hope we're not celebrating going to borrow money at cutthroat rates

Ugmama:
Well said. I have lived in London and I don’t fancy it anymore. I need a quiet area, so I intend to move North and I want to stay close to hospital. Any house that gives me nice serene, proximity to key areas like train, church, mall, school is my take.

You'd get that in many places all over. Key question would be what place is suited to you.

careerwoman:
Long post alert…
It’s finally PPR!! 🍁

Welcome to 🇨🇦

Congrats

luqken:
Hi fellas,

I am looking at alternative network provider to my O2. It's currently looking like a waste of money

I commute Luton to London and I struggle to have good calls and internet service enroute my trip especially inside Thameslink.

I have a feeling there could be a better network I could try out there as I see people making successful calls/internet in the train and stations.

As you know the commute route, try using Opensignal. It is an app that lets you see the network coverage for different providers around the country. It also tells you the coverage type (4G, 5G...) and data speed

Goke7:
dem don dey impersonate you? 😂aaah you have made it in life bruv. Congratulations! Can I have you as mentor? How much is your fee? 😂

Hehe... scammers full ground

Ugmama:
Please our landlords and experienced people here,

What do we look out for to know a house that would appreciate in value in the near future?
No question is a stupid one according to my tutors 😁

As Lexusgs430 said, historical sales data is one.
I use houseprices.io . It's a good resource to quickly compare historical data.

Secondly, what investment is being done there. I dont mean stuff planned in the unknown future. I know of a town that saw a 20% jump in prices partly due to a nuclear plant being built close by.

Third is transport connections and proximity to major hubs such as London, Manchester e.t.c

Then you have unique stuff like schools e.t.c.

That said, for many parts, prices reflect prevailing market realities. Areas which are cheap are less priced for a reason and manytimes remain that way unless something fundamental changes. So when you see a 'cheap' place ask yourself why it is cheap and if it really offers value.

All said, if looking for a place to live, I'd be more focused on stuff that personally brings value to me not just what house prices might do

thaotech:
Be careful folks, especially people who have contact details in their previous posts. This lowlife tried to impersonate jedisco, claiming he tried to quote my message but anti spam bot prevented him from doing so.

Hehe... you see wetin I dey tok.

Aggressive blokes full ground

thaotech:
Chief, I present cephalic sir
I'd really love to get your guidance regarding several pathway considerations if you don't mind.
Can I send a pm?

My brother/sister I greet.

I prefer to have conversations here to preserve my anonymity an make others fit chip in. Alternatively, u fit quote me on a forgotten thread on a remote section of Nairaland

Ogonsbaba:
I have completed and got my keys earlier this month. I went for an old build and got my mortgage with Barclays bank with 10% deposit. My interest rate was 4.46% when Bank of England interest rate was 4.25% and I fixed it for 5 years tenure. Thanks to everyone for answering questions and for the words of encouragement.

Congrats.
Landlords don dey plenty

Madeu:
This tread has been helpful. Completed and got my key today. 3 years in the UK and buying as a solo buyer -feeling over the moon. Now I can opt back to my pension.

Hehe.. congrats.
Go find person mk una two chop the benefits.

muyico:
Why correcting her?? Were you assigned to disciplinary committee?? African is born to lies

Africa ***
Don't make yourself inferior

ferfer:
Please share when you have the AI tool.

@mortgage - Great plan to let the broker run all the different scenarios. I beg you, shop around. If you have been pre approved for a particular amount/rate, you are still allowed to approach another financial institution. I think they only pull (hard) your credit once for the first one and that is it. As a new comer to Canada, some (I know for sure that TD has this because I know someone who got it) financial institutions have newcomer rate/bonus thingy! Shop around - broker, big 6 bank etc.

@Rav4...unless I have the resources to go buy the only Bugatti Ottoman made for Suleiman the Magnificent, I will vote with my feet for a tested and trusted, albeit banal and ubiquitous, RaV4.
The taxi drivers definitely know something we do not and I'd say we follow their lead!

It appears there's no truly global fvnd that trades/is domiciled in CAD. The best I saw were VXC and XAW but these exclude Canada. It's odd though but I'm looking.
Two options Im looking at - one might be to replicate a global fvnd by buying either of those two and a separate fvnd for the Canadian local market only. Making the later about 3% of my portfolio to replicate a truly global fvnd. The other would be to buy a foreign domiciled fvnd such as FWRG but one would now need to factor currency exchange fees.


Regarding the mortgage, wouldn't a mortgage broker be able to look at the whole matket and advise? My thinking and experience has been to get a broker who has access to the whole market. However seeking car insurance quotes showed me how fragmented the Canadian system is. I have discussed with a broker that's linked to my bank and he gave me a good overview of what's tenable.


Hehe @rav4... it's like buying Corolla 04 in 9ja. To many, its Corolla or nothing else. Reminds me of when I was taking my driving lessons in the UK. I kept asking the chap if most cars I pass are good or not. Chap told me mk I chill, that most modern cars are dependable and no company builds a factory to sell cars that would breakdown in months- at least not in the west. Toyotas are not a thing in the UK and cars wey people dey drive there were not breaking down unduly. Ultimately, if one gets a decent car thats not too old, it should serve. My target is to buy a car that I can wake anyday within the first 3-5 yrs of purchase and drive anywhere. My only business with the car should be the annual service/mandatories. Many brands should offer that.

skydiver01:
I agree re: reduction in the rate (pace) of price increases and I think you meant to say actual drop in prices is called deflation

True. Mistake by autocorrect. Now corrected

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.