₦airaland Forum

Zahra29:
I've watched it.

My view remains the same, although I also agree with Cyberknight's rather sobering assessment that many of these countries may recognise that they are being used by China but may also feel that they don't have m(any) options.

Once again, the question is not whether or not to do business with China. Of course one should. The concern is to what degree. If you know anyone who was born in the Caribbean e.g. Jamaica, or has lived there for decades, ask them about the scale of China's operations over the last decade and the impact it has had/is having on the locals.

I have deliberately not spoken much about China's involvement in other countries as it's not really my business - they are free to do/trade as they please. My main concern is my own country and hoping that my government does not become complacent (and in some cases - stops being complacent) in its dealings with China. I was encouraged to see the protests over the weekend over the proposed super embassy plans - I can only hope that KS et co listen and U-turn again.

I'd be keen to know how this Caribbean country has fared objectively as it regards Chinese loans. What was borrowed? At what rate (if known)? What was it used for? How does it compare to loans taken from other sources?

I was once unduly worried about Nigeria and Chinese loans until I looked into the numbers. From the narrative, one would have thought 90% of our loans were from the Chinese and we were paying relatively huge sums in interest. The reverse was actually the case. Also my knowledge of social media algorithms makes one appreciate how forces that be can drive a narrative.

jedisco:
For the very first time, there's been a conversation about China without the usual trope asking 'but why are you not in China'? It was this narrative that led me to keep saying our presence in the west is not cos we're wanted but because we're needed.
Narratives here have seemingly matured.

Still on China- this is huge. ( https://www.nairaland.com/8601905/china-names-24.5-billion-ogidigben ). Imagine the number of high quality jobs and local wealth this would create

While it'd be good to know the terms, I'd much rather we receive such infrastructure-dedicated loans than billions more from the worldbank, IMF or via eurobonds for catch phrases like 'millennium development goals', 'economic resilience' e.t.c

Finally, some screnshots on the state of our foreign loans and interest we pay. Notice the large hitters? Interesting that despite how low China ranks, their loans have generated the most narrative while still being the most tangible.

Still on China...
These are our active eurobonds i.e forex we borrow at commercial rates from the international market. These are open to anyone willing to buy and fund the Nigerian government but they're typically gulped up by banks with deep pockets or pension funds.

To break it down, via eurobonds, we've borrowed over 17 billion usd at rates of between 7-10% and pay about 260 million usd each quarter in interest. If you know what this money was used for, please state

Conversely, we've taken a total 4b usd from china at rates of under 3%. This money has been used for demonstrable projects which we can point to.
However, westerners want us to believe our Chinese loans are a debt trap but are conspicuously silent on our eurobonds..... if this doesn't define hypocrisy, what else does?

Good one.
Worth knowing the terms of this but its high time African nations start seeking mutually beneficial agreements.

For the upcoming anti-China narrative typically driven by the Western media, lets ask- why do they care? What have the loans from IMF et al (as posted below been used for)?
The Chinese loans form a miniscule part of our debt but yet have seemingly been the most productive.

For the very first time, there's been a conversation about China without the usual trope asking 'but why are you not in China'? It was this narrative that led me to keep saying our presence in the west is not cos we're wanted but because we're needed.
Narratives here have seemingly matured.

Still on China- this is huge. ( https://www.nairaland.com/8601905/china-names-24.5-billion-ogidigben ). Imagine the number of high quality jobs and local wealth this would create

While it'd be good to know the terms, I'd much rather we receive such infrastructure-dedicated loans than billions more from the worldbank, IMF or via eurobonds for catch phrases like 'millennium development goals', 'economic resilience' e.t.c

Finally, some screnshots on the state of our foreign loans and interest we pay. Notice the large hitters? Interesting that despite how low China ranks, their loans have generated the most narrative while still being the most tangible.

Cyberknight:
At the bolded, no, that's not the case. Give some credit to both sides of your ancestral regions here. Everyone knows that the Chinese are just another bunch of sharks out to prey upon the weak, but since we live in shark-infested waters and have no defences we are simply resigned to being prey. There's a conversation to be had about that resignation and how we ended up in that role, but not regarding where African and Caribbean countries are.

Waiting with bated breath to see what's eventually decided regarding the Chinese super embassy. I have the feeling that Starmer will sign it off, probably just to show that there'll be no more U-turning. While I really wish Labour and Starmer will succeed, I have to say that it's not looking good for them with all the reversals of policy. The ID one annoyed me in particular as it was spectacularly ill-thought-through from the beginning. It's generally the case (not just here but also in other developed countries that attract immigrants) that the general [British] public are usually massively uninformed about how the immigration system works. Many people believe that legal immigrants can claim benefits for instance. They have no idea how much people have to pay for visas and so forth and generally tend to believe the narratives they read in the papers. It generally seems that it's only those who've got friends or family members who have to engage with the immigration system have some or very good knowledge of how it works.

Labour's ID plan felt this way. You get the impression that the people making policy don't actually know how their own immigration system works either. One would think that the government, who runs the eVisa system, would know that legal immigrants already have digital ID so introducing digital ID for the whole country to combat illegal working would be pointless, and isn't a good reason to advance for wanting to do so. You wonder where their Sir Humphreys are doing (if indeed any still remain) - why is no-one getting rid of these ideas before they are announced as policy in the first place?

I'd differ on the bolded. The constant warning from the West that China is not 'father christmas' is not meant to help but to scaremonger. Why do they care? It seems most westerners are incapable of imagining an association between African nations and others that benefits both parties. It says alot about how parasitic our relationship with the west has been.

For the very first time in over 300 yrs, we live in a world where there are now true options - wealth and progress is no longer beholden to one source/narrative. Competition is usually a good thing moreso at a time when many western economies have stalled and are now struggling to fund their opulence. I don't need to caveat that there's no free lunch anywhere. It's for Africa to make good use of the current trend.

Goodenoch:
No o please educate me and other average Nigerians who don't know of these henious WTO violations perpetrated by China that the US and its vassals are so very innocent of.

From what little I know (sorry if it's innacurate; you know some of us just “ran masters package”, so we might not be as up-to-date as an elite immigrant like you), China isn't the (only?) one that has weaponized sanctions on countries they disagree with politically, slapped arbitrary tarrifs on a range of countries, threatened countries that want to shift away from dependency on the 'mighty dollar', invaded countries to steal their oil, sanctioned and locked out representatives of global institutions for daring to criticize its BigTech companies, used OFAC and the SWIFT system to strong-arm financial institutions worldwide, paralysed the WTO Appellate Body since 2017 when rulings went against it, pulled out of a variety of 'green' treaties while preaching sustainability AKA deindustrialisation to African countries, imposed export bans on critical technologies, using subsidies to enable their companies to engage in rampant food dumping in Africa; resulting in the collapse of poultry, milk and rice value chains in various countries, ati be be lo.

And this is just economic stuff o, not national security and military violations. But China is the boogeyman because they make things cheaply.

It's becoming a tired narrative now. Hidden behind this 'warning' is the assumption that Africans/Caribbeans can't think for themselves.
The Prime minister of Barbados - Mia Motley put it nicely when a BBC reporter kept warning about China.

Not surprising that when you ask why - silence follows thru


https://www.youtube.com/watch?v=B4sJqR2VNPA

4ever1:
Good morning
Pls I need hacks on applying for jobs on nhs , a step by step guidelines

What job/role?

Would you need a visa?

HustlaOfLagos:
They said China is the threat though with their spying EVs and their unbelievable attempts to make tech cheaper and more accessible without bombing other countries

While at it, sprinkle in buzzwords like "overcapacity", "threat", "state owned" , "government backed subsidies", "at what cost", "unfair trade practices", "market manipulation". "dystopian surveillance state", "social credit sysyem" and everyone loses their minds

You forgot 'communist'.

It's the classic give a dog a bad name to hang it. The buzzword now is 'immigrant'. Well, those tactics are coming home to roost. The narrative used today in U.S politics to describe any human opposition to the current government as a 'radical leftist'. Once that's used, it doesn’t matter what they're saying- to Trumpists, they become the enemy. I.e slowly dehumanising dissenting voices.

Eitherway, make you dey careful before someone asks why you're in the west and not in China.

Goodenoch:
https://www.nairaland.com/8597083/us-urges-citizens-leave-venezuela

The next chapter has started. Another country in crisis and plunged into a free-for-all of violence by Western neo imperialists.

A few years from now when refugees are pouring through to find safe haven, the good people of the US will act shocked as if it has nothing to do with them, then a few years later when theres further strife some people (AKA Team 'underlying causes') will come to attack the communities for harboring negative sentiments of the USA - again as if those sentiments materialised out of the blue against dear old, innocent USA (+ its vassals like the UK).

All playing out just like it did in Iraq, Afghanistan, Libya, Syria, Yemen, Somalia, Vietnam, Laos, Nicaragua, El Salvador, Guatemala, Iran, Lebanon, Sudan, the Balkans etc etc etc.

Strikingly similar to what happened in Libya. After Ghaddafi's killing (not his fan), no plan was made to support the nation which descended into chaos. Western nations instead chose different militant groups to support.
The resultant chaos led to the proliferation of arms and violence along that corridor all the way to Nigeria. Look how many West-African countries have lost their democracy which the west was ironically looking to spread. Today, Nigeria has to take commercial loans at over 10% mainly from western pension funds to fund purchases of American weapons to fight these terrorists. Knowing fully well our economy is not growing at over 10%, the only way we can meet up with loan repayments is to sell resources on the cheap. So in essense, our sweat is used to fund western retirees and opulence while we suffer.

Our new loving westerners who are exceptionally keen to warn us against China never mention all this.
Imagine if it was China that orchestrated this invasion of Venezuela or the fall of Libya

Chidieberenwune:
Madam do you think you are in 3rd world country like Nigeria. Plz abide by every town planning code and save yourself from this embarrassment expect you want to come back to your original base and start packing barrels every where in your community.

Don't call yourself 'thirdworld'.
It reeks of low esteem

CyynthiaKiss:
No Islamic country made it to top 15.

Just jihad in the morning, sharia in the afternoon, terrorism at night..

Stop spewing nonsense. Our focus should be on building our society not determining who's Islamic or not.

Before you go ad-hominem, know I'm a Christian

Onlinetutor7:
Very good move by Trump. Let those third world countries elect good leaders instead of fleeing overseas after distablizing their country .

Stop calling yourself 'third-world'. It depicts low self esteem and self-worth.

Certainly this does not make sense.

Isnt it because in the past when forex was restricted, people had to go thru CBN to get forex (manytimes for frivolous reasons which they roundtrip). Now the market has been freed up, those travelling for healthcare don't need to approach the CBN so wouldn't be counted

LordIsaac:
No one is ignorant of the wiles of the imperialists. However, I'd argue that Nigeria was better pre-independence compared to our followership under wicked thieves. Just imagine how many houses recovered from Emiefewerey, Malami, and the other thieves since 1960!

Used to think this way but this is not true.
Colonialism never lifted any country out of poverty. The main aim of the British was to extract resources and thjs continues to be the case

A much higher percentage of Nigerians today are educated. We are slowly building indegenous industries as foreign ones are only interested in extracting raw materials and profits. Look at oil, cocoa or domestic milk production for example

Whether now or in a hundred years, we need to build a robust functioning society ourselves. No one would do it for us

ppeoye:
We bought a house in 2024 and i had already started looking for a buy to let property but i had to suspend that due to the uncertainty surrounding ILR

Don't let that hold you back ooo.
Even if you leave the UK, an estate agent can manage it and send you returns though it'd require more planning.

2025 was a good time to get in. The market was slow and one could eck out discounts. I was able to get a rental yield of 8.1% on a decent property in the south which would have been unheard of a few years back.

BTL in itself ain't easy. An ETF may give better returns with much less hassle and unrivalled flexibility. However, property serves as a good means to diversify and there's the feel that comes with owning a tangible asset. There's the flex that comes with the phrase 'I own British property'.

I spent 1-2yrs looking and waiting for interest rates to drop and unlike when I got my personal place where I left my deposit in a cash ISA for peace of mind, this time, I invested my deposit in an ETF as I would rather be invested while waiting. This got me over 20% profit on my deposit by the time I was ready to buy. Trumps shenanigans would have been scary but the market rebounded sharply. Returns from the market helped me bid my time and wait for what I wanted. At a point, I was about to pull the plug on BTLs and just be solely in ETFs.

Reflecting on the last day of what has been an intense year for migrants worldover, the best migrant-centric UK-based news for me this year is captured below.

Indian nationals are leading the charge internationally, founding 684 new companies in the first half of the year.... Nigerian investors follow closely with 647 new incorporations, while Polish and Irish nationals also feature highly.
https://www.hamptons.co.uk/articles/international-landlords#/

The main cohort of Nigerians counted here would be those on a visa/ILR who are awaiting their kpali as those with one wouldn't have been counted as foreign. It shows that despite all the noise, we are pushing on. At least, if someone blames migrants for not being able to buy a house, there'd be some 'evidence' to point at.
Of note, this counts professional landlords i.e those setting up through companies. It does not include those renting directly and certainly not owner-occupiers. Also worth noting that most people setting up via limited companies hardly stop at one property. Many go on to have more just because of the nature of the market.


Caveats here would be
1. Starting a BTL company does not mean one has bought. Its a process but it depicts professional intent.
2. Some of these could be Nigerians resident abroad though this would be a miniscule number if at all significant.

AOI2016:
Hi Guys,

I want to know if its advisable to go for level 2 survey due to cost.

Will level 2 give enough details about the property.

I want to do the survey before I proceed with the mortgage application.
I have instructed my broker to hold on.

It depends on the property. Also take the age and general state into consideration.
Most homes built from the 1970s and have been in good general shape could make do with an L2

For most properties, a L2 survey will suffice. Some surveyors would even discourage you from an L3 if they think an L2 is good enough. If the L2 raises certain issues, you can then hone in on those

@op, why are you stereotyping all Nigerian men based on your father. As per your post, he has his issues. It does appear your father is weak with an inferiority complex which has framed the way you see him.

Cheating and domestic violence aren't also rare among European marriages which doesn’t make it any more acceptable.


This should serve as a lesson to some young Nigerian men here who have formed the habit of abusing their ladies in the name of redpill.. As a Nigerian man, its unlikely you'd have it better out there.

Brendaniel:
You still don't want to face reality....

Reality that if we don't start fixing basic things in our country the majority would be condemned to poverty?
Look around... the world is leaving us behind.

Of course this is wrong.

You dont compare prices between different countries without looking at relative earnings i.e affordability. Its like comparing the headline cost of Coke between two countries to determine where its 'cheaper'

Cost of flights within the UK and even between countries in Europe can easily be between £30- 200. The UK minimum wage is above £12 per hour. That means the lowest earner should be able to afford an air ticket to Europe after a days job (even after removing taxes). That's affordable.


Now compare that to Nigeria with a minimum wage of 70k per month and average flight cost of about 120- 200k. The minimum wage earner would need to work for upto 2 months to be able to purchase a flight ticket - that is without spending a kobo from their pay which is obviously not affordable. What's worse is that many people earn below minimum wage in Nigeria which is hardly the case in the UK.

Yes, certain airline inputs are priced internationally but people like Onyema shouldn't gaslight Nigerians to accept basic things being unaffordable.

Brendaniel:
And which Nigerian is going to do the bolded?

Between you and the government, who is the bigger joker?

The rest of your talk here is thrash because you are not facing reality...

Like I said, it's a step at a time.

You need to learn how societies work. Taxation is basic economics that has been going on for decades. A simple Google search on how others do it would help.

Brendaniel:
What has the subsidy removal and other tariff and tax increase done ?

Also how does the government plan to separate income and money inflow for non employed Nigerians?

I mean how does the government determine what is inflow and what is income into a person's account?

Self employed residents and business owners would need to submit their tax returns i.e a statement of how much they earned and the government tells them what tax is due.

Has it been stated the government would go perusing thru peoples account to decide who pays tax or not? Just to be clear, the revenue agency should be able to investigate people's account if they suspect fraud but that shouldn't be the norm

It can be argued that the receipts from subsidy removal haven't been used well but that's not a reason not to have taken it away. It was bankrupting the nation. Focus from the citizens should now move to mandating tax receipts are used appropriately. Taxation helps drive engagement in politics. When citizens understand it's their money the governor or his son is frolicking with, they reduce the 'dobale' and begin to demand answers. Also, progressive taxation is one of the few proven ways to reduce wealth inequality and give the many poor a chance.


Let's be clear- this is just being introduced and there'd be teething and compliance issues. However if built on, we'd have a robust system with time. Countries have had modern tax systems for several decades- the challenges we'd encounter are likely to have been adressed elsewhere.

Brendaniel:
When they said bandits, kidnappers and prostitutes will pay tax, what comes to your mind?

From what it looks like they plan deducting the tax from everybody's account based on the flow of money once it hits the thresholds for taxation, this is what I call tax banditry, or would they in their right senses expect bandits, kidnappers and prostitutes to walk into a bank or revenue agency to declare or pay their tax for their profession ?


That's why I look at the whole tax law as financial theft and fraud from the government...

And how does 'everyone earning above a treshold would be liable to pay tax translate into the bolded? No need scaremongering.

These tax laws have been one of the basic fulcrums of many advanced societies for decades. We need to decide if we want to move this country forward or keep our people wallowing in poverty. The standard of living and good things people see abroad were the result of deliberate actions

Poor regulation mainly with limited financial literacy

Humans world over are greedy and there is a general lack of understanding among the general polulace in different countries yet you don't see groups openly fleecing the populace in many countries without regulatory bodies stepping in and perpetrators facing the law

https://www.youtube.com/watch?v=gsrHr33aoWg

Stumbled upon this. Second time I'm seeing his video and it was interesting to watch. I wonder what our thoughts are

My take: The fallout of lacking wealth runs deep - a major reason why I'm against the 15yr ILR route is that it'd only make things like this worse.

Lower rates of home ownership does seem to be a huge driver of poverty among black groups. Home ownership via a mortgage was the economic miracle of the 20th century that underpinned many western economies. Notwithstanding the talk of st0ck market returns, for a migrant, it's extremely difficult to build wealth in the west without owning a home. For many, it forms the base upon which other things are built.
Yes, we need time to catch up but wealth also does compound. Without making the right moves, those who have might only just get more.

Merry Christmas and happy holidays to everyone. Nice to have a good stint off

AOI2016:
Hi Guys,
I'm a FTB. I met my broker today and we get a lender Skipton.
I suggested fix rate of 5 years but my broker advice i go for 2years with rate at4.14 and 5years is 4.22.
He said the rate will continue to drop even in 2 years.
Please I need advice on what to do.
I am thinking of 5years for stability but what if the rate drops further.

With the usual caveat that no one can guestimate the future, we can get some pointers from data available today.
I was in same situation 2-3yrs ago when rates were at their peak. Some said 5yrs for peace of mind but it didn't make sense to me as rates were the highest they had been in decades and inflation was falling.
I subsequently went with a variable rate which started at abt 5.6 and had dropped below 4.5 when I remortgaged in 2 years.

It's been mooted that rates are likely to settle at about 3% - though I think they may eventually drop a bit lower to spur growth.

Two things to consider:
1. Are there fees associated with this products? A 999 fee might tilt your decision
2. How about a variable rate for 2 yrs since the inference is that rates would drop more.

Personally, I'd tilt towards the 2yr fix but it's not a slamdunk

OmichaelO:
We got our Keys yesterday!

Thank you everyone for all the tips and assistance.

God bless you all.

It was a journey indeed.

From 31st August when we did reservation till now.

Congrats. Your Christmas present came early

NewT123:
If this isn’t racism, I wonder what else is?

Interesting.. the current narrative has emboldened mane.

The term 'third world' is a slur these days. Reason why I shudder when Nigerians refer to themselves with that phrase

.

HustlaOfLagos:
A lot of stats can be found here - https://www.gov.uk/government/statistics/dwp-benefits-statistics-august-2025/benefit-combinations-official-statistics-to-february-2025

I'd like to be non-working oooo for all the listed benefits and I'll vote for any gov that tries to implement this, especially the Asian ladies part

Interesting read. Quite harrowing too.
Funny thing is that migrants on a visa cannot access these benefits yet they're being blamed. One of the reasons I sometimes want Reform to win the next election. Lets see how they deal with cutting benefits of their voting base.

HustlaOfLagos:
After getting your legs blown off and you try to claim citizenship, they will remind you that being in the military isnt an excuse and that you have to wait for 20 more years.... and that you are a Nigerian... and they are doing you a favor

Hehe... Afterall Saudi Arabia does not give migrants the privilege of dying in theur wars..