@Missworld,

Too bad you have never experienced justice all your life so far in Naija. I have, and I believe there are many other Nigerians who have too. On Ngige's performance; I'll rate him above Average. He did the best he could, based on the circumstances that brought him to power.

But the fact remains that he came into power by rigging, hence the end does not justify the means. Only corrupt people like Chris Uba think that way.

He that cometh into a house from the back is a thief and a robber.

The rightfull winner has been declared winner, let's all thank the Judiciary for doing the right thing, and giving Nigerians Hope.

@Toshman,

Nigeria does'nt stink, you stink!

Definitely!

@Hotstepper

Nigeria does have a road map. I am only searching for a more recent and free one on the web.
My last option will be to buy one. I am not sure, it'll be an updated one. I saw a lot of them while in school.

Anyway, I still have some time before I would have to visit a bookshop.

Can someone please help me with a link or something on a latest copy of a road map to Obudu town, in Cross River.
I am planning a road trip with the family either from Abuja or PH.

Thanks Guys.

@WHITESOFTX,

I do not need the Corruption AntiVirus, as I am not infected.

@JAKUMO,

Thanks for the offer, I'll look into it.

No one is perfect guys.

OBJ is the least corrupt leader Naija has ever had so far, but he's not getting a third term.

There are other upright Nigerians like myself who can continue and improve on current policies and reforms.

I think some of you are under estimating the Nigerian government's ability to analyse offers and freebies.

There is already a WIFi network in Abuja, which the government is not using for security messages and communication.

The Google offer is just another network, for which after the threads I have read so far, many will not want to subscribe to it. Its your choice.

If you want your internet traffic to be monitored by some guys out there, then you can subscribe otherwise stay away from it.

There are tens of ISPs in Abuja and Nigeria which are being run by competent and adequately funded private companies. Please patronise them. Avoid freebies!

@sbucareer

You are off the point too.

When Larger_20 called for areas of investments in Nigeria, he believed just like the rest of us who have contributed so far, that the Nigerian government and people are now ready to take their rightfull place in Africa and the rest of the world, and hence have put in place policies and structures to deal with our problems inculing perception, and encourage investments in our country.

We have seen a lot of investments coming in, we are encouraged, and we want to make our own investments in the country.

Once again, we are all aware of the numerous problems we had in the past and still do, but we are encouraged by the efforts to change that so far, and the results we have also seen so far.

We are also aware that Nigeria's and indeed no country's problem can be completely eradicated. We would have to wait till we get to heaven, before we see such perfection.

The main thing is that we have started.

Now, to list the fundamentals to be done to encourage investments like neticash has identified would be a repitition, as some of those steps are already in place, while others are being implemented. We are all aware of the NEEDS and SEEDS reform program by the FG and State Govt, which have recieved lots of accolades by the International community which ensured the country got the debt write off from the paris club.


So guys, the steps, structures, reforms etc are in place.

Now we want to invest in areas that should be profitable as well as meeting the UN MDGs set for 2015.


Lets have more contributions towards that.

Thanks.

@neticash

Summarily, you are out of point. You are replying to a different topic, at least for the most part of your reply.

Please take some time to read our earlier replies, that should put you in the picture.

In addition, I can cofortably tell you that you are very uninformed about latest developments in Nigeria especially in the last 2-3 years. Some of these things I have listed in earlier posts.

Please make it a duty to visit these sites every morning and evening, like i do:


www.nigeriaworld.com
www.nigeria.gov.ng (Here you can watch NTA news and listen to Radio Nigeria)
You would also find links to Nigerian dailies.


we await your suggestions on the topic being discussed: Areas of Investment in Naija

In the begining:

The Woman was made for the Man, not the Man for the Woman.

Sex is sin, whether with your wife or not, that's the reason Jesus Christ was concieved without sex, although Mary was happily married to Mr Joseph.

But it is an Abomination, when the woman is another man's wife.

There is no place in the scriptures where it is categorically stated that having more than one woman is abhored by God. But the scripture calls a married woman engaging in sexual relationships with other men as Adulterous.

King David for instance had so many wives and concubines, but when he slept with another man's wife, God rebuked him. I am sure David is currently in a place where those who preach "one man, one wife" may not get to.

If your Gbola will cause you to sin, please cut it off! It is better to enter the kingdom without the Gbola, because you wouldn't need it there anyway.


Na me talk am!

I think every man should work hard to ensure he never has to demand his wife's or woman's paycheck. The Man should always take care of his family's needs irrespective of the woman's input. That'll ensure his superior position in the family, as our creator as made it.

Also their may be situations where the Man cannot meet up with all the needs. That's when the woman's loyalty is questioned. If she refuses to help you or your family, whether asked or not, then u should send her to her father's house at the slightest chance. Na me talk am! That's how we do it in Ibo land.

I have a wonderfull wife, who does what she needs to do. She earns money, but I still give her more and take care of other bills. And when there is a need for her to do things, she doesn't wait for me, she goes ahead and pays.

That's the role i expect from a wife as an African and Christian.

That's my Stand.

Oga seun,

Na wa for u o. Babies are born everyday. By the time you are 45, there is another generation of younger people who are to produce those goods and services for you to pay for.

Otherwise you'd be like a true African leader: Sit Tight!

thanks @vinna

Thanks Freshsmile,

I'll call the guys to get more info and their latest quote, 'cos I am paying more on my electricity bills!

Hello All,

There are many retirement plans offered by mostly Insurance companies in Naija.

I have one with IGI which i started about 5 years ago, and going to start one with GT Assurance.

www.igi-insurers.com
www.gtalimited.com


The returns on retirement largely depend on how much you can afford to invest monthly/quarterly/anually.


Personally, I am hoping to retire from work at 45, and be the governor of my state at 50.

Seun, oga, join a plan, no matter how small.

Cheers all.

@freshsmile,

Sometime last year, I got a quote from a solar energy company in Lagos to install a solar water heating system. I know initial costs are high, which the quote was, but the guys could'nt really answer all my questions regarding the product.

My question is what is the average temperature of the water heated by the system?

Do I still need to have an electric water heater to improve on the temperature as some research I have done seem to imply?


Thanks.

Thanks sbucareer,

But I forgot to give more details I am aware of, concerning Nuclear Energy.

The Nuclear Energy and Research center is located in the Abubakar Balewa University Kaduna, a university in Nigeria. Its part of their program, and there is a reactor currently running there, as we write.

On whether we understand Nuclear Science, you may want to know that Nigeria has the highest number of Nuclear scientists working in Naija and around the world, especially the US. Our level of Intellect is never in question in the world.

Sorry, I forgot to mention that the same energy commission said Nigeria is committed to reusable energy by 2015. Research is going on in all forms of energy generation.

The professionals are very aware of the risks involved in Nuclear energy, that's why they are still researching on it, and I believe they'll come up with an energy development plan, the absence of which, we have power problems in the first place.

With the economy growing at an average of 8%, only an irresponsible govt like the past ones will go to sleep as regards planning for the future.


On your list of other forms of energy, Lagos state is planning a power plant from biogas, apparently taking advantage of the huge refuse in Lagos. I think its still in the planning stage. Not too sure.

In the northern part of the country, Solar power is widely used. I am even considering solar power in my place in Abuja. There is a lot of sunshine in that part of the country.

All the power plants being constructed in the south are based on Gas, one in Adamawa is a hydro plant.

On Wind, I am not aware on any project currently on.


Summarily, I am not comfortable with Nuclear Energy, and believe the experts will do a good job, on the best form of generating enough for now and the future.

PS: South Africa does have Nuclear Energy, so we wouldn't be the first in Africa.


Back to other areas on investments:


Communication:

The country is launching its communication satellite later this year, this is in addition to the one also being launched (not sure when) by a group of African countries of which Nigeria is also part of.

The satellite is supposed to hugely reduce satellite communication costs in Africa and promote integration within its members.

Already 10 African countries including Egypt and Ghana have indicated interest in having bandwith on the satellite.
The government has also indicated that the satellite is not totally a commercial venture, but a tool to promote African integration, hence bandwith is supposed to be very cheap for government institutions etc within Africa.

Once again, Nigeria playing the big brother role.

I believe the cost of Data Communication, Networking and Internet Access will reduce considerably with the use of the satellite by Banks, ISPs, GSM networks etc.




Transport:


One of the key areas like obong mentioned.

Infact the high cost of food items is believed to be hugely due to high transportation costs. That's why for instance pounded yam is a common stable food in the middle belt, but an expensive delicay in the south east. Meanwhile we have only a distance of less than 500kms between Imo and Benue.

I am aware that the FG has awarded a contract to dredge the Niger, after the initial contract was revoked. This will provide water way transport for goods from the north to the south.
I hope they will be focused this time.

With the water ways open, It'll be interesting to invest in boats or barges to convey goods on the route. It should be profitable.

Also the Lagos State govt has been talking about a metro line project in Lagos since 1999. Its been all talk no action.

The Chinese are looking at the railway with a view to reviving it. I hope something comes out of it.

Transportation is a major area, one needs to look into.

Hello guys,

I am excited about this topic.

I am of the opinion that the full support of SMEs (Small and Medium Enterprises) is what we need mostly.

In some areas mentioned by some contributors, I must inform you guys as follows:


Power:

There are currently 12 power stations being constructed by the federal government plus 5 by major oil companies and some by states like Lagos, Rivers and Akwa Ibom.

http://allafrica.com/stories/200601170335.html

These stations, especially the ones by the FG are expected to be completed by the end of 2007. Infact there are hopes that some of them will be ready by the end of 2006.

The total Installed capacity of all the stations is expected to be over 10,000 MW.

The Energy commission of Nigeria has also started discussions and feasibility studies of Nuclear power. One has already been commissioned at the Nuclear energy and research center in Kaduna, by the IAEA chairman during his visit to Nigeria last year.

Discussions are currently on with the IAEA.

So on power cuts, it'll be reduced to the barest minimun by 2007. Although a city like lagos will still have problems due to illegal connections and rapid uncontrolled development.

Infact just after the completion of the Abuja Power project last December, there has been no power cut where I live in Abuja. Prior to that, power goes for a few minutes, on an average of twice a week.


Health:

I watched on the news sometime last year, the commissioning of the now improved ABU Teaching Hospital, I understand the government is currently improving Teaching Hospitals in the 6 geo political zones to Five star status, the project includes training for up to 5 years on the use of the equipment.

Infact the FG has stopped sponsoring its officials for medical trips abroad after the ABUTH commissioning. The other teaching hospitals are to be commissioned soon. I hear its the Abacha loot that is being used for the project.

But I think efforts should now be made to provide basic health centers in at least every autonomous community, and standard hospitals in at least every local government area. This I believe should be left to the State and Local governments with donations from private concerns.
I am aware Lagos, Enugu and Ebonyi states have such health programs. Ebonyi state I hear provides free health care for pregnant women. I believe there are other states doing that.

On Health Insurance, that has already taken off, but requires publicity. Most elites I believe are already on Insurance schemes, and the federal civil service has also insured its staff. But the common Nigeria does not believe in Insurance, there is the belief in "God will provide". Of course God will allways provide.

Anyway, I think publicity by the insurance companies is still not adequate, and there should be some legislation to enforce hospitals to be affiliated to Health Insurance schemes.



Technology:


On outsourcing, I am also aware of a Technological village commissioned in Benue by Microsoft last year, and the FCT plans to build the Abuja Technological Village by 2007. This is supposed to be like the Dubai Internet City or the Silicon Valley in the US.

This centre will provide opportunities for outsourcing from international companies.

http://www.fct.gov.ng/Ministers+Office/ATV/

I also believe we still require a lot of investments in this area.




Internet Service:


I agree that Internet Access in Nigeria is still expensive. There is a lot to do in this area, and all the ISPs seem to be crowding Lagos.

I believe Internet Access should come down to about N5,000 monthly and should be provided free at secondary school level.

I am also aware there are some projects like that going on, but can't give specifics.

We need a lot of investments here.





Housing:


This is where we also need lots of investments.

We are far from the Millennium Dev Goals on housing, and i think government should stay from housing projects, and just provide the land and linking infrastructure.



I will contribute more later.

@Panthress,

I am involved in developing Africa. I am implementing a Banking Software in a bank here in Ethiopia, the same thing I have been doing for the past 6 years in Europe and over 15 African countries, including Ghana.

I believe I am in a good position to know the level of development in these countries.

I love Africa, and especially Nigeria. That's why I fly back home to Abuja every 3 weeks.

I am Proudly Nigerian!

Can we please stop these ridiculous exchange

So Medube,

because Accra is safer and more developed than the ghettos of Harlem in the US, or better than Hilbrow in Johannesburg, South Africa or as your comparism should be, has more working street and traffic lights than Lagos Nigeria, Ghana is better than US, South Africa and Nigeria?

<snip>

No country is better than the other.

If for instance, you have overseas syndrome, Europe or America will always be better than home. But on the other hand,
if you live in your own house, in some serene suburb of Abuja, Kano, Kaduna, Calabar or PH,
life cannot be better than living your dreams in Nigeria.

For your information, Nigeria is the second largest economy to date in Sub Saharan Africa after South Africa, so please move to Ghana or specifically Accra, so that we'll have more African Intergration, but don't come to places like this to show your ignorance!

Cheers.

I did browse thru some bank websites and I found out that STB, Firstbank, GTB and Zenith offer you the opportunity to transfer funds between your accounts(USD,EUR,NGN..etc) and you can also transfer funds to third party accounts in the same bank.

However STB (Standard Trust Bank now UBA) stands out, as you can transfer money to a Named Beneficiary. ie Someone that doesn't have an account with the bank. You enter a test key and relay same to the beneficiary and the Branch to pickup the funds from and its done. I have done it so many times.

Interswitch, Nigeria's premier payments switching provider are to introduce the ability to transfer money from an account in any bank, to another account in any bank in Nigeria, provided both accounts are linked to Debit Cards.

I have not come across any bank's site in Nigeria that allows you yo transfer money abroad via the web. You would have to fill out the necessary forms. The best you can get is that you can fax the transfer request to them. That's if you are transfering from a FCY account.

The Central Bank's regulations request them to report FCY transactions to them.

Yes gentleone,
I totally agree with you on Ecobank. I have had cause to work on a project at Ecobank, and in most of their affiliates across west Africa, especially in Abidjan, Conakry and Lome. They have a standard, which all the affiliates adhere to. I have an account with them, but don't use it because their Internet Banking is not up and going, and their ATMs are not linked to Interswitch, so I am short on spread.

First Bank; Well, I am very impressed with their IT revolution. They have the largest ATM spread etc. But I was a bit sceptical about customer service. Anyway, you have just confirmed my fears.

When they eventually merge with Ecobank, I'll definitely pay them a visit.

Thanks EJO(Neticash) for your info.

However I do not agree with you on Nigeria Debit Cards and Credit Cards issued by banks in Nigeria;

Interswitch Debit Cards work WELL. I have been using mine for close to six months now. I can use it at over 350 ATMs (www.interswitchng.com) nationwide, I use it to pay for my water bills and intend to use it on POS terminals at merchant shops which I believe Interswitch is launching soon.

The cards use a Pin, so a thief would have to have your card and your pin to use it at an ATM.
While online, I am not an expert on web security, but I am satisfied with the security Interswitch provided in entering my Card number and Pin number before transactions take place.

I also think it's safer for a thief to be limited to the amount in my bank account, than for a thief to use up my bank credit limit (viz-a-viz Credit Card)
I think by International standards, Interswitch meets security standards.
Please note that I am not a staff of Interswitch, I am only a very satisfied customer.

On Credit Cards:
I do know that no where in the world are Credit cards meant for the Low in the society. Its not for the POOR!

However the equivalent min of $150 to open a Credit card account as advertised by Intercontinental bank in Nigeria, is by my opinion very very moderate. STB require $250 min.

Personally, I think if u can't afford $150 (N21,000) min. plus all internationally accepted charges, to have a credit card, please stay away from one. Once again, its not for the POOR.


I salute your introduction of your service to Nigerians and others alike. Be sure of the patronage.

Thanks.

My Case:

After Charles Soludo announced the N25Bn min Shareholder's fund for banks in Nigeria, sometime mid 2004, I decided to choose the banks to bank with. My decision was to be based on capital base, e-banking, consumer products and national spread.

I called Standard Chartered Nigeria.
They gave me the basic requirements and asked me to feel free to go to any of their offices for an application form. I opened a USD account with them in less than 20 mins. I was given a pin for SMS banking same day, and I was asked to came back in 2 weeks time for my VISA Electron Card. It was ready and waiting for me when I was back there in 2 weeks time.

Cash withdrawal since then takes me an average of 10mins.

My ratings:

Customer service: Excellent
Ebanking: well they still don't (to the best of my knowledge) have internet banking for retail clients, so I'll rate: Average
Spread: Poor (Only in Lagos,PH and Abuja)


I needed a bank with more spread, and to open a Naira Account. After going thru websites, I went to STB. January 2005.

I went to the new branch in 23rd festac, asked to open a Virtual PAL account, was told I could only do that at the Head Office by an Ignorant and Rude Customer Service officer. Not believing that nonsense, I went to the branch in 21rd.

The forms were given to me, I opened the account, applied for Internet Banking and an ATM card.
Then the story starts...

By March, I still didn't have my Internet banking login details nor the ATM card.

After phone calls and emails, I finally got the Internet Banking working in April.
I only got the ATM card in July. ie 6 months later.
Although a friend of mine got his ATM card after 3 weeks of applying for one, it boils down to consistency.
The bank does not respond to on-line inquiries. At least not to my enquiries.

My ratings:

Customer Service: Very Poor.
Ebanking: Good. ie when you eventually start using it. probably after 4 months.
Spread: Excellent.
Banking Environment: Poor (marketplace)


I decided to bank with another bank with as much spread as STB. I couldn't handle the crowd at the banking halls, for even to deposit money.
I had cause to deposit money at Zenith for someone. It took me an hour to do that at their Maitama branch in Abuja. Zenith was out of my list.
I went to Afribank in Abuja, couldn't get into the hall. Crowd!
I went into GTB in Garki. Hmm, nice banking environment. I browsed their website, was impressed.

I opened a savings account, and as usual applied for all their ebanking products. (Nov 2005)
On NoV 16th, I was called by a staff of the bank to make necessary enquiries about my account. I was impressed at such verification. It was something I experienced only outside Nigeria.
Well, Guys as at today, I am yet to receive my Internet banking details or my ATM card.

Rating:

Customer Service: Poor
Ebanking: no ratings. not been able to use it.
Spread: Good.
Banking Environment: Good (At Abuja)


In summary, although i did not try most other banks, of course this was because they didn't meet most of my criteria as stated above, Customer Service Delivery in Nigerian banks, i would say is averagely poor.

I used to work for Fortune Intl Bank, and the Customer Service Delivery we provided was far much better.


This is my Opinion.