₦airaland Forum

Charts that tell a story.

If these young fellas are asked what happened, many would tell tales of how useless the NHS is and how its failed them. Yet this is one of the richest large nations in the world with so much opportunity.

lavida001:
They hate to hear this but this evidence is clear.

Africans choose to live in denial rather than confront the truth in front of us. Length and breadth of Africa not a single country to look up to in development/ real change.

In this world, things happen in phases with some stints lasting several hundred years.

Self hate is not the solution to development.

Goke7:
Migrants will soon be blamed again for the drop just watch and see.

I remember some time ago here where we discuss the drop in university enrolments, migrants too were blamed here for no longer having enough money to japa because of forex issues 😂 na we Dey cause everything both increase and decrease!

Lol. They should provide scholarship na.

On this, they would say na our many diseases wey we carry come from Africa no dey gree us do chuku-chuku.

We do - wahala. We no do -wahala.

Lexusgs430:
Out of 50 childless people(geriatrics) I have been privileged to speak to, when life changing health decisions are required....... I would say about 45 of them, regretted not having a child or children......

Each to their own...... 😊😂

Hehe... loneliness no be small thing - it tortures slowly. There is manytimes a marked difference between old couples living together and those living alone esp if no kids come around. Na healthcare workers go be their main source of human contact.

Imagine living all by ones self with limited mobility in a 3 bed house. The government should pay people to provide lonely old folks company - another visa sponsorship wahala be dat.

airsaylongcome:
By “rent”, I’m guessing you are referring to residential rental. Commercial buildings are also rented out. I’m being pedantic, I apologise but it’s an OCD you’d have to forgive.

And I’m totally with you about it not being flash. Heck let it be dull sef. But let it be durable and up to standard. It’s gotten so bad that for basic stuff like electrical outlets like switches and sockets, I have considered buying from the UK. That’s how terrible our standards have become. You’d see someone say, The socket is “touching”! What the gell does “touching” mean for chrissake. That’s partial contact which is a precursor to a possible electrical fire. And we are happy to say “e dey touch”. Let’s not even get started about plumbing. Or the terribly annoying widespread use of MDF and HDF for furnishing. Like what?! What happened to original plywood? And hardcore timber (and “caliber” lol). I dunno, maybe I’m from the old school, but standards are completely lost in the building industry (and many others in Nigeria). And it’s not like I’m “old” o. 50 years is still very very far from me (not like 50 sef is old)

Hehe...
Manytimes its the cost, lack of proper oversight and access to credit.

I'm involved in a building project and recently got quotes for doors. Even me wey dey find solid timber had to recalibrate. Cost of everything is just thru the roof

Interesting message I received of late.

It then occured to me how a few years ago, migrant pupils were blamed here for saturating the school system and preventing 'British kids' from getting choice slots. So soon after numbers dropped, effects are being felt. How long before this makes it way higher up the school system?

Gerrard59:
Yes, modern people are opting for fewer children, but so far, the statistics globally indicate that more women opt for this than men. It is women who are opting out of marriage, not necessarily men, and since it takes two to tango, then fewer marriages which lead to fewer children. Historically, the long standing phenomenon shows that when women are educated, they opt for fewer children. This cuts across all cultures, racial groups and religions. Educated women hold the ace for childbearing not just because of the biological aspect, but the empowerment, both economic and physical, that education comes with.

Yeah, there are different reasons for this but I'm going down with women-blaming or we vs them narrative.

Like I've said, having a child is a choice- no one owes the world more kids.

Lexusgs430:
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Nothing spoil nah, he should go under the knife again and have his condensed milk, syringed out of him....... 🤣😂🥛🥛

Let's assume his babe is either called TESA or PESA..... They would simply TESA the PESA, into her area........ 🤣😂😁

Hehe
In the past, I used to be quite cautious when relatively young men turn up for a vasectomy. These days, I no dey lose sleep. As far as you understand the risks and benefits, na your body. It has become quite clear how different cultures view certain things. A number of my colleagues have also had one.

Another is when people say they would not have kids because of what the world has become- that they wouldn't want to bring a child into this world in its current state. In the past, I'd gloss over it as play-talk but I now see quite a number of young folks actually mean this. I tell them that statistically speaking, the world has never been in a better place.

Love800:
In your first paragraph, are you saying a house does not have life-span?

It does but when well built and maintained, we're looking at well over hundred years. Houses built over 200yrs ago are still being lived-in and traded in many parts of the world

Love800:
What is capital appreciation pls?

You mean the age of the house?

The increase in value of the house and land it sits on.

Checkwell:
Learn what it means to pay it forward.

You once lived as a tenant because someone was kind enough to build extra shelter to house you. And I know you have all damaged people's houses at one time or the other while living as tenants. Some even have very bad characters here.

Now, e don reach your turn, you say you no want tenants, it's not profitable, etc.

Black man is just damn selfish.

You are not making sense and it stinks to bring your inferiority complex to the fore.

People are discussing investment decisions here not emotional ones. All investments are afterall in the local economy and a vibrant economy needs different moving parts.
We can follow your line of thought and say why invest in rentals, why not go build a farm? Then when it comes to a farm, we say why plant crops, why not focus on livestock.... and continue with that. You see why it doesn't make sense?

airsaylongcome:
If you are building, you should build to standard and to local building code. Simple. It does not mater what you will use the building for. Just build to standard and to code. Apart from terribly substandard foundation, my other biggest gripe is the woeful electrical and plumbing that most of these landlords use

Fair enough.

I specified rent as it's the theme of the thread. Also most people generally want to build their personal house to a standard but cheap out on the one they're going to rent out. I'm not even advocating expensive or flashy items but that the basics - structure, electricals, plumbing e.t.c should be to a good standard.

Smartcitizen:
The money used in building that house was an income I earned through savings as a business man and it was coming in bits.

From what you are saying, it will only take you to be a politician in Nigeria to keep that kind of money in dollars over the years and without spending it to get that kind of profit you are talking about.

An average person will likely spend that money because of one challenge or the other in Nigeria, so I don't it is really viable thinking in that line.

Good point. Just butresses the headwinds local investors have to deal with in a fast-paced world.

Gerrard59:
- modern women are not as interested in marriage and/or childbearing as much as men of today are. Why should we disregard facts simply because we don't like the messenger?

You're making this a man vs 2oman thing which it hardly isn't. No woman owes you, the world or even the human race a child.

I took the time out to watch the video and even looked at outcomes of studies done. They are neither here nor there with lots of overlap.

We are not talking about those on the fringe. Modern day man AND women are increasingly opting to have less kids. In my experience, it seems to be ladies that are more keen on having kids than men. There have a few societal advantages. I have increasingly seen men come in their 20s asking for a vasectomy which is largely considered a permanent form of contraception. Ask around and you'd be shocked the number of blokes who've had a snip. My favourite was someone who got a snip cos he didn't want to have kids with his current partner only for them to break up a few years after and he now hooked up with someone new and was frantically chasing a reversal.

LionInZion:
💯
It's pointless educating people with such mentality. Just like you I'm also concerned about young people growing around people with such views. They'll psych them up to walk on eggshells all their life. Unfortunately, it is what it is. A man once titled his book Slaves Who Love Their Chains Will Remain In Bondage

Nice title- in this case it's not even loving the chains. It's believing the chains are there when they are only but an illusion.

Reason why I am strongly against some of the visa changes cos they perpetuate poverty which then has a way of debasing peoples mind. Someone who struggled in 9ja, then struggled to get into the UK and continued to struggle for over a decade while paying huge sums in fees might inadvertently think the reason they are suffering is because they are inferior or not intelligent enough. It takes alot to get a child who grew up with such mindset to succeed. Talk to an average kid in a grammar, private and state school and general difference in thinking and aspiration (which mostly starts from home) becomes evident

Goke7:
Apt! 💯 the story you shared the other day about those parents who rebuked their children for complaining about being sexually bullied in school comes to mind, I still struggle to digest that story but the kind of comments you see here validates that’s how many people still think.

It rings true. Imagine the son of such a person coming to tell him/her they were abused and called a monkey at school or their daughter returning to tell them she was touched inappropriately. Their response might just be - 'know you place'

Smartcitizen:
If you are intelligent you will understand that houses are used as store of value and not for immediate profit.

The house I built in 2009 with just about 4m in a land of 2m is being priced at 35m today and I'm not selling because that is for my boys future when he finishes his academics.

People build to save money because shares in Nigeria is rubbish.

This got me thinking

In 2009, 1usd was about 120 Naira hence 6m naira would have been about 50,000 usd

That same 50k usd is today worth 84 million.

That means you'd have made more if you had just held usd than buy and build (even accounting for rents).
Now imagine if that 50k usd was invested in global assets in 2009. That would be worth over 200m. Inflation and devaluation has truly hit our economy.

P.s I'm not speaking against your investment

airsaylongcome:
How many properly built houses do we have in Nigeria? Not up to 20% of new building are up to standard or code

If you're building to rent, then you should build it to standard and maintain it properly. It'd last decades

Sheuns:
A dilapidated house doesn’t appreciate in value.

A properly built and maintained house wouldn't get dilapidated. It's stand for hundred years and over.

Moreso, with real estate, the house is not manytimes whats driving value- it's the land it sits on. A dilapidated house in cental Abuja would still sell for hundreds of millions

CoronaVirusPro:
Real estate also takes time to appreciate while cost of maintenance keeps going. Why would I want to that. When I keep money working without doing anything.

Not advocating for either here. Just saying that one needs to consider all variables when calculating 'ROI'

CoronaVirusPro:
The most unprofitable business is building a house for profit.

Why spend 300m on a house you will have to wait for years to get to profit while maintenance keeps going on.

At 15 years, the house itself is already depreciating and only the land it sits on is appreciating, that’s even when you build in the right location.

Just sit that 300m in a money market account and start reaping profit instantly.

I don’t know who sold false narratives to people that building a house for rent purposes is profitable.

Good point.
But you also need to factor in the capital appreciation of the property/land to get the real ROI.

With property, the capital appreciation plays a much higher role in the eventual ROI than rent.

Sheuns:
It’s only in Nigeria that value of property keeps going higher. A house built in the 90s and abandoned would be selling for hundreds of millions. Ask them why it’s so, they’ll tell you you’re buying land.

This is the case in virtually every vibrant country in the world. Assests including houses and land appreciate.

LionInZion:
If everyone shared the same mindset as yours, there would still be transatlantic slavery, black people would still be enslaved and fed to dogs at the slightest provocation in plantations across western countries, women would still be ineligible to vote and drive.

Martin Luther and Malcolm X would be turning in their graves reading this. Anyway, all the best with your 'knowing your place' mentality. I refuse to be part of such.

Hehe... there are narratives that are manytimes not worth the effort to engage with. You are not going to convince a man who sees himself as little that he is not. It's largely thesame thinking that fuels the 'go back to your village' trope we sometimes hear in 9ja.


Today, when people come with such thinking I smile and observe. Afterall, some people would always scrape the bottom. My only appeal to them is not to let such narrative take hold in their children- cos if they offspring approach the world thinking they're being done a favour, they would be trampled upon by even people that look like them.

Two favourite quotes come to mind...

Goke7:
Very true o, just look at the way ICE is clamping on people all in the name of going after criminals to deport them, at end the farmers and hoteliers are the ones crying now that their workers are being targeted 😂 so tey baba Trump had to complain too. That’s when you’ll know how deceptive these rubbish they do are.

Hehe.. looked this up and it's quite interesting. One narrative after the other that there is no point following what he is doing. Ultimately, decisions have consequences.

Ogonsbaba:
Can you recommend the solicitors details as their price was affordable? Please, how many weeks did it take for them to complete the process and hope they are responsive? Thanks

My solicitors are local and most people prefer a local ones too.
A good way is asking for quotes from those in your vicinity and compare prices. Also, if you know those who bought around you of late, they'd have good info.
I gather Law Blacks Solicitors also have sensible prices

Senseless. These false narratives only lead to stereotyping

Goke7:
😂 you never sabi these people they are one of the most deceptive humans you can ever come across, forming posh and victims at the same time! It’s the same way the afrikaaners in SA who owns over 70% of the land in SA will tell you that how the govt is impoverishing and killing them

Hehe... humans are selfish but the UK has thought me that in developed societies, when you hear news of one group crying, you have to stop and think about alot of variables before responding. E.g why is the media reporting it this way e.t.c

Infact, manytimes the cry of the most impoverished goes unnoticed while the rich make the loudest noise. Wealthy farmers would protest paying a trumped down version of inheritance taxes, young people outside work would say 'the NHS has done nothing for me' forgetting they are in one of the most privileged societies in the world. Migrants have had it demonstrably tougher with each passing year but someone listening to the media would think we're loafing around all day leaching on the NHS with our many untreated diseases.

AKALAMAGBO:
I felt the same way.. the mistake I made was instructing them to go ahead.

Hehe.. It's not a major issue. A year down the line, you it wouldn't be a bother. It's still within the wider range

With my recent purchase, only one solicitor among the three I contacted gave a quote below 2k.
When I purchased my place a few years ago, this was my quote.

Solumtoya:
Time to remortgage as my 2-year fix is coming to an end. Barclays has a product with rate less than 4%, ie. 3.8% or so for 75% LTV. I just need the property to valued right so I can fit into 75% LTV with minimal one-off overpayment. If I can get sub-4%, then 5yr fix is a "sure banker".

Similar to me. I'm due later this year and hoping for a further drop in rates. 3.5 ish wouldn't be bad. Good enough, my estate devs recently increased the sale price of similar dwellings. I'm hoping that'd feed through into the valuation before I'm due.
Barclays publishes their rates online. I looked at them but wonder why the 10yr fix is so high.

AKALAMAGBO:
Can someone advise if this fee is too much from the Solicitor?

That’s the quote I got for a 3 bedroom house selling for £290,000…

Should I shop around or is that reasonable? NB: The EA referred them to me.

To me its a bit high. My recent purchase even as a ltd co was under 2k and the solicitors have been responsive.