Mancala's Posts
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Treadway:I’m not arguing that remittances are not a relatively minor percentage of GDP. I am saying that they are a large albeit stable portion of forex inflows and therefore fluctuations in their volume will have a disproportionate impact on everything including GDP in an economy that is largely import dependent. They are not a major catalyst in the economy today because volumes have not fluctuated widely like oil prices which we all recognize as having a large impact. On the flip side, changes in price and export volumes of oil which is the other major earner of forex wreaks havoc on our economy. Remittances have not changed that much (down about 5 to 10 billion since 2019) so it’s actually making for a stabilizing effect while oil goes all over the place. If per chance we double the amount of remittances, there is no doubt it will have a positive effect on our exchange rate and our GDP in real terms. The opposite will also be true. You quote GDP numbers but have you noticed that GDP has declined more than 20% in real terms although growing in Naira terms since 2014. This is in direct correlation to current account accruals and decline in exchange rate which is impacted directly by inflows. |
Treadway:I think the argument is that Foreign remittances have big impacts in Nigeria and India because it forms a large percentage of total forex inflows. May seem small as a % of GDP, but the appropriate ratio to examine would be the % of remittances of total forex inflows. A small change in the volume of remittances in Nigeria would result in movement of the value of the currency which then actually affects the GDP in real terms. In India, remittances often exceed other sources of inflows and yes, they have a disproportionate impact on current account balance like in Nigeria. |
Treadway:Interesting figures but not the full picture. It will be further instructive to examine the broad categories of imports and exports for Nigeria vs India to see for example that one country imports stuff mainly for consumption while the other imports stuff, processes and exports value added products. One key example is petroleum products. Nigeria exports crude oil but imports higher value refined products which form a conservative estimate of almost 50% of its import bill. India imports crude oil but is in the top 10 exporters of refined higher value petroleum products in the world. Same goes for jewelry and precious stones, machinery and equipment, pharmaceuticals. It’s not an apples to apples comparison between Nigeria and India. One consumes its imports, the other processes a large portion with cheap labor and exports at multiple the value at which it imports. |
Aareona:I feel for you sir. It is not easy even for citizens who relocate to other cities within the country to break into social circles. A lot of friendships and relationships in these countries are formed from elementary, high school and college days and they tend to stick to people they've known from way back. However, there are ways for you to make friends, but you will need to invest time and money which is unfamiliar territory for immigrants. First, get involved in the favorite pastimes in your locale. In North America, you would need to develop an interest in things like sports.... football, Hockey/skating (Canada), soccer, hunting, fishing, boating ,camping, volunteering, Church activities etc. Go to the games, join clubs, even the office pools. You just have to put yourself out there and make a conscious effort to make friends not isolate yourself at home and merely try to make your co-workers friends. Yes, you will spend money, but you will have fun, make friends and enjoy your life. I do not subscribe to only trying to make people from your home country your friends. Broaden your horizon, live you life. Don't fall into the trap of waiting/trying to save up and go back to Nigeria before living your life. What about the time you spend saving? Is that not part of your life? Live now sir! Why spend $4k to visit Nigeria? There are a lot of interesting places in North America and Europe you can visit for much less and have a great time. One more thing, I sure hope that $20k you saved is not in cash sitting in a bank account. Invest that money in stocks, bonds, real estate, something. Learn how the average Canadian becomes successful in Canada and forget the way its done in Nigeria. Make that money work for you. |
Irupetepete:This is an interesting plan B response for someone who wanted to go for holidays in New Jersey . I was expecting you to say I will vacation in Africa or try Europe. That VO na clairvoyant ![]() |
tourmib:There is really no need for a specific Hotel branded travel card. Any Visa, Mastercard, Discover or Amex credit card will do. Typically, Visa and Mastercard have the highest acceptance rates in the US. |
A lot of advice has already been offered, but I will add my 2 cents. If you decide to relocate, do not try to replicate your life in the diaspora or you will consume your entire capital on daily expenses. You will need to suck it up and start by living like the vast majority of Nigerians with limited water and electricity supply, sub standard transportation and relatively insecure environments. Secondly, think long term. Your earnings will need to be enough to fund not only your currently lifestyle but also your retirement. I'm sure you know that there is no social safety net in Nigeria like in Germany. A large number of retirees in Nigeria depend on their children to survive so keep that in mind. Register a limited liability corporation and try to raise local capital. Do not commit all your personal funds to the business. Finally, I'm assuming you are still relatively young so this may be the time to take some risks. There are significant opportunity costs involved, but then, it will be one hell of a ride and experience you will never forget ![]() |
Slamtos26:Black Friday is not a National or Federal holiday and thus not recognized by the embassy. The link I provided shows the official American and Nigerian holidays that the Embassy observes. |
Chemicalboss1:I'm sorry, I have no idea or insight to the process. I'm just a casual observer. |
Slamtos26:Definite No to one of those dates. Thursday Nov 26th is Thanksgiving Day in the US. It's a major national holiday and the embassy will not be open. You can review the embassy holiday calendar at this link https://ng.usembassy.gov/holiday-calendar/ |
Excel70:Its available on Amazon. But if you google it, you will find other merchants that have it for sale. Just make sure you buy the model that allows you to replace the batteries. |
Like most have said, its motion sickness. There are drugs and patches to prevent and mitigate the effects, but the most effective will make you drowsy and not in the position to do anything effectively. I was recommended a gadget that's really effective in preventing and calming the symptoms. I used it when I used to fly as an amateur pilot in small single engine aircraft that triggered the symptoms. Its very effective. Its called the relief band, pictured below. It sends electrical signals up through the nerves to the brain. I'm sure there are other brands that do the same thing so don't take this as an endorsement for a particular brand but just bringing to your awareness that there are non drug solutions to the problem.
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"Those people commenting are sounding a bit anti church." No, they are not anti Church. They are simply applying logic to the situation. The main purpose of the meeting is certainly not to eat and drink. Having said that, why can't the meeting be held in the Church this time? Answer is pride. Someone does not want to lose face! "If she still refuses you can now employ the service of caterers if you can afford it and if you can't u can explore other options like buying soft drinks and snacks. But you should make it clear to her that that you are not happy with her you too can revengeby declining some helps you render her or sacrifices you make for her so she will know how it pains.DONT just let it go make sure you express your displeasure by actions or at least words or both. NEVER you postpone the meeting to please her or due to lack of options or lack of adequate plan.if she refuses make sure you feed your guest in your house with at least snacks and .soft drinks or better by caterers,this will make you the winner and she will be ashame of her sef" Caveat Emptor! Pride comes before fall. Really? Take revenge, make you the winner? Your house? Make her ashamed of herself? Do I really need to explain why this is so off base? These are some of the reasons why lots of Nigerian wives in the older generations were unhappy in their marriage and just stuck it out for the sake of tradition. Same reasons why divorces are prevalent today. |
When and where did this rumor start that Nigerians in the diaspora are not doing okay and are stingy with their money? I can only speak from what I see and know, and this is it. The vast majority of Nigerians I know in the U.S. are professionals doing okay for themselves, and there are lots of them in the big cities. They own their homes, live well, build or buy houses in Nigeria and support their kin back home especially their parents. The trend now with people with aged parents in Nigeria is to hire full time 24/7 care for their parents and also provide an allowance. The average amount of allowance I am aware of is about 2 milllion Naira a year, spread out on a monthly basis. The majority of successful diasporans do not talk about their success and don't need to. |
Esther880:Don't give in to despair. You are relatively young and have your entire life ahead of you. Good jobs are hard to find these days so why not consider setting yourself up to do something while you look for a job. Start a small business. In the course of running a business, you will meet people and make connections that could lead to a good job. Networking is the key to finding a job these days. If you have a vision for what business you can do, share it here. You just might attract a willing sponsor or partner if it's well articulated. |
Ekaso y'all? That's straight up gangsta dude . JK, kudos on making an effort to speak the lingo.If your intent is to please/ make your wife happy, only you can answer the question. But I can give you some practical tips to help you figure this out. First, the full native wear comprising of the buba (shirt), sokoto (trousers) and agbada (flowing wide sleeved robe) is equivalent in formality to wearing a three piece suit (if you're old school) or just a regular 2 piece suit. But there's a further twist to it. The type of material the native wear is made of also determines the degree of formality. In general (old school thinking), the "Ankara" material would be at the lower end of the formalilty spectrum whilst "aso oke" would be at the higher end of it. But these days, there are real fancy Ankara materials that could pass for formal. My questions for you are thus: How did your wife react to your wearing a suit to pick her up at the airport and going directly to a fancy restaurant? Do you think she may have felt underdressed or wanted to change out of her travel clothes to match you? Did she enjoy the experience? If she did, then go for it with the Nigerian clothes. But this time, bring her a change of clothes, perhaps bring her matching Nigerian outfit so y'all are both dressed up. You may also up the ante and research a good Nigerian restaurant in your neck of the woods. Call ahead and have them prepare her favorite Nigerian dishes. I am yet to meet a Nigerian in the diaspora who does not miss Nigerian food! Lastly, if you've had any experience wearing an agbada, you know that it takes a certain level of Pizzaz to pull it off effectively. It's really not suited for the tasks of fetching luggage and rolling or carrying any distance through the airport, especially if its of the "aso oke" variety. Feel free to leave the agbada in the car and wear only the buba and sokoto if that makes it easier to go get her. Good luck and let us know how it went. We're rooting for ya ![]() One last thing. Some folks have strong sentimental feelings about their wedding outfits and may not want them worn anyhow. Figure this out first that your wife will not go nuts if you wore your wedding attire out to pick her up from the airport. Maybe go with the non wedding attire? |
pDudd:Sir, Contrary to popular opinion in certain circles, the word you used to address me is not a term of endearment but a hurtful and derogatory term. I would appreciate that you not address me as such in the future. Having said that, by general principle, I do not initiate or accept offline contact on this forum. I am not casting aspersions on this platform or any individuals on it, but it's a decision I made and it has worked well for me. Feel free to post any inquiries on here and I will respond within the limits of my abilities. |
My sincere condolences to the OP. I feel for you as I know how it feels to lose a loved one. I would advice you to do an autopsy to determine the cause of death of your father. The symptoms are somewhat similar to a stroke. If this is the case, you need to know if there are any hereditary risks involved and if you and your siblings should be taking any precautions. Be strong. This pain too shall pass. |
pDudd:The tax code is complex, no doubt about that. But those are some of the basics I described. You can't conflate deductions and credits. The mortgage interest tax credit is still valid for 2019 If you were issued a valid mortgage credit certificate by a qualified state or local government agency. You would need to complete form 8396 along with your 1040 to claim the credit. But I have already said too much. The game is to be sold and not to be told. I'm spoiling market for tax professionals ![]() |
pDudd:For purposes of future reference; this statement is not entirely accurate: At the year end, when you are filing your taxes, the government will refund you all that $16,000. Tax free too. This is not how the tax system works. You are blurring the lines between a tax deduction and a credit. All the items you mentioned are deductions which reduce your taxable income as opposed to a tax credit which directly reduces the amount you owe. In your example, assuming you qualify for $16k in deductions means that your taxable income is reduced by that amount.. 100 - 16 =84. Your tax liability is then calculated as 27% of 84k=22.68k. Your refund amount will then be the difference between the 27k you Initially paid and the recalculated liability of 22.68 which is $4.32k. Big difference between the 16k you mentioned and the $4K you will actually get. For a single person earning above 100k, there are few credits you can qualify for. Credits usually start to kick in when you have children or are lower income. An example of a tax credit is the Mortgage Interest Credit which is intended to help lower-income people afford home ownership. If you qualify for the Mortgage Interest Credit, (paid per year, up to $2,000), your state or local Housing Finance Agency will issue a qualified Mortgage Credit Certificate (MCC) when you purchase your main home with a mortgage. This $2k is a direct reduction off your tax liability and your will get it back as a refund. |
CanadaOrBust:The OP can buy forex on the open market and keep at home ![]() Is it possible to buy forex at the official rate to open a domiciliary account? I doubt it. The wahala is that they will start to give you the run around when you want to withdraw foreign currency from your dorm acct. They will want to give you Naira equivalent. |
A domiciliary account makes sense if your objective is capital preservation in a safe vehicle as the Naira continues to depreciate. But then, you are already behind the 8 ball at this point, with the Naira currently exchanging at about 460 to the dollar. But who knows the future? It may go as low as 500 or even 600 in the near future. My experience with these accounts in Nigeria has been ease at moving dollars in, but difficult to get it out in forex cash without the usual "man know man" connections. Its easier to do electronic transactions but you will pay some fees. I detest third parties unnecessarily being in my business with no real value added except to enable what should be a legal process so I have stopped transactions on mine. |
laiperi:My point remains. You can walk into an emergency room and receive initial treatment to stabilize regardless of ability to pay. This is the law and it works. It has worked so well that it became a disincentive to some to get private medical insurance and hence the advent of Obamacare. The cost of these services is passed on to private medical insurers not the Medicare/Medicaid budget. Education and information is the great divider between the so called privileged and the poor in America. You need knowledge and information to "work the system" to your advantage as many informed people do. The privileged continue to access resources because they know how while the uneducated and underprivileged go without because they don't. Your wages will not be garnished if you access resources according to the law. It is being done regularly. I'm not sure how we got to arguing about the American medical system from physician folks wanting to travel to the U.K., but let me say this. You can be very successful in the U.S. if you understand the system and prepare yourself for success. There are lots of well accomplished Nigerian professionals who are living a peaceable life here and same thing in Nigeria. Life is what you make of it. |
laiperi:Actually, there is a federal law named the Emergency Medical Treatment and Labor Act enacted in 1986 that applies to all states and all hospitals that accept Medicare, which is practically almost all. Hospitals are required to treat and stabilize anyone who walks into an ER regardless of insurance status or ability to pay. I know for a fact that it happens in the southern states. I know of specific examples in Mississippi and Alabama where the ER's were overwhelmed with non insured patients. This predates Obamacare and is still in effect. |
laiperi:I understand your point of view , but I've learnt to take a dispassionate view on matters concerning Nigeria. Our situation is like that of a drug addict and rehab. It will only work when the entire being is ready and willing to change. No one should be expected to sit around waiting for that to happen. Migration has been happening since ancient times. People moved to new geographies when their location was not working out. The only difference now is that there are borders and formalities to overcome. Our forefathers migrated from someplace else and settled in Nigeria when they faced difficulties where they came from. America, Canada, Australia.... are all countries of immigrants. If you don't like where you're at, move! Life is too short to remain in an untenable situation when you have options. Some of us Nigerians have never seen Nigeria in good shape like it was immediately after independence and somewhat into the 1970's. A lot do not know what it's like to have 24/7 electricity, in-home running water, security and a working government. If a medical doctor cannot stand going to work to face pain and misery, they are free to excercise their options. I know of lady pediatrician that cried herself to sleep every night because of the misery she experienced at work everyday. At least, in the U.S., you can walk into a hospital emregency room and get treatment, no questions asked. Not ideal, but people do not die like flies. They would treat and stabilize you before talking money. This pre-exists Obamacare. |
Relatively speaking, the practice of medicine in the U.S. is still "luxurious" in the worst of times compared to Nigeria. American docs were overwhelmed at the start of the covid crisis due to situations like insufficient PPE and hospital beds in isolation/negative pressure wards as well as insufficient ventilators, all temporary in nature. These are everyday permanent occurrences in a place like Nigeria. A patient has to provide pretty much everything for themselves. I recall a case where a baby was born prematurely and needed to be in an incubator. The parents had to pay to repair the only available incubator then bring a generator from home to keep it going. A collection was taken everyday to buy gasoline to run it. "Even Gowon once boasted that money is not the problem but how to spend it" Theirein lies one singular problem of the average Nigerian in power. A lack of foresight and imagination! |
I cannot blame any Nigerian medical professional for fleeing the country. A good number of them are fleeing from mental, psychological and emotional torture as opposed to chasing better renumeration. Many years back, I came to understand what a physician goes through in government owned hospitals in Nigeria. Medical professionals are forced to play God. The power of life and death literally lies in their hands. I had several conversations with physicians who moved to the U.S. many years ago and some of them wept at their experiences. There are no basic facilities, supplies or equipment. Often times, the physician has to pay for or stand as a guarantor for essential supplies like oxygen, medications etc that are needed for a vastly impoverished patient population. Imagine having to make a decision as to who's medications or services you will pay for out of your own pocket, knowing fully well that those that do not get the essential care will die if you don't step up. Their resources are limited and they have their own family to care for. The rich, connected and influential all go to private hospitals or seek medical service abroad. Many of our medical professionals are deeply troubled by what happens at work. A good number have hardened their hearts and don't care anymore due to the endless number of deaths they have to witness. Those that can't stand it have to flee the country or look for another profession. In the U.S., we have witnessed a number of physician suicides during the covid crises as a result of the high death rates and patient suffering they experienced in that short period of time. Imagine having to experience this on a daily basis. I wish those 52 physicians the best and hope they succeed in escaping the mental torture they are subject to at their places of work. |
KingMicky3286:I understand your situation better now. Stranded meant to me that you wanted to leave but could not due to a deficit in documentation. Your situation is different from what the title implies......you want to extend your legal stay. Not knowing any specifics of the country you're at, I can only talk about what the situation is where I live. The Nigerian embassy is officially closed to physical visits but is still conducting official business as situations arise. You can contact officials by phone or email. I know it's easier said than done but you may need to get through to them with the usual Nigerian man know man means. Find someone who knows someone at the embassy and git er done! Not ideal, but it is what it is. Our systems stink! If I may ask, what document exactly do you need? I know you really don't need an unexpired passport to renew a permanent residency in the U.S., but rules differ for different countries. In addition, the physical expiration of a green card does not mean you've lost your resident status. Anyway, I can empathize with your situation. It is very frustrating trying to get anything done through a Nigerian embassy, even under normal conditions. |
TheMan3:Context matters! Perhaps you do not comprehend the assertions of the poster? If a Nigerian national is stranded abroad, implying they need to get home to Nigeria, he/she can travel home on an expired passport. That's my simple message. Getting home is the primary objective. They can then renew the passport when they are at home. I did not suggest that they travel home for the sole purpose of renewing the passport. |
KingMicky3286:I did not suggest that you travel to Nigeria for the sole purpose of renewing your passport. I was inferring from the title "being stranded" that you can travel to Nigeria on an expired passport and renew when you get there, if you are truly stranded and need to go home. You can go with an expired passport. If you have a foreign passport, you can get a visa on arrival (recent/new development). I have done the former but not the latter. This counsel is all predicated on the assumption that you can get a flight back home. If not, getting your passport renewed in a foreign country or at home is all a moot point. |
I was under the impression that a Nigerian citizen can travel to Nigeria on a foreign passport and get a visa on arrival. In addition, you can also enter Nigeria on an expired passport and renew when you get there if you have to travel urgently. Third option is to get an emergency travel certificate from the embassy. |

. I was expecting you to say I will vacation in Africa or try Europe. That VO na clairvoyant 

