Thanks for the detailed explanations.
Though it sounded like a business that requires more than 15 million naira.
The returns in numbers weren't much clear but I'm sure you can give all that when contacted.

SavageResponse:
I will give you a summary of how the business works

What you do is you go to a site that is suitable for dredging and you pay for a lease. There are several dredging sites on the Lekki-Ajah expressway, there is one beside Heyden filling station just before you get to VGC gate if you're coming from Victoria Island it is on the left side of the road.

There is another one just after you pass Sangotedo just before you get to Abijo. When you get to Awoyaya there are about 3 different ones that I know of there including one that is owned by a politician.

Now after paying for the lease and settling the omo oniles you move in your equipment which consists of the dredger and a payloader.

The dredger usually consists of s barge that has a large hose connected to it for sucking sand from the bottom of the river or lagoon and the payloader is used for loading sand onto the trucks that came to buy sand.

Now the process is that the dredger when switched on will suck sand and water from the bottom of the river and will pump it to the bank of the river.

The water will flow back into the river leaving just the sand.

When people come to buy sand the payloader will scoop sand from the heap and use it to load the truck. On average it takes about 6 or 7 scoops to fill up the bucket of a 30 ton truck.

The main risk of this business is that money comes in everyday therefore you must be on ground to monitor sales otherwise if you'tr not physically present if your workers sell to 15 trucks they will tell you that they only sold to 10 trucks and they pocket thhe rest of your money.

In this business you don't ever sell sand on credit no matter what!

Let's assume for instance you sell 5 trucks of sand on credit the person who bought form you will come back to pay you, what he will do is he will divert to start busing from another dredging site thereby leaving you to bear the loss.

If you invest your money in this business you will loose big time if you don't have tight internal control or if you do not understand the business!

I don't see what's the point of this all then if you cannot summarise.
Summarise how it all works and the basics of its business model that makes it so lucrative on here. That's the barest minimum before any serious person contacts you further.

Desperados:


The process of directly drilling white sand from the river.

I can't give all details here...

What exactly is sand dredging business and how does it fully work?

Desperados:



Bro, I swear this business is more than goldmine.

Someone I know just started his own last month and he makes a minimum of 2million naira daily.

NO JOKES.


Very very lucrative business..

I'm honestly curious to know, what will the church do if any harm comes to him? Wage war against Islamic religion world wide? Invade Nigeria and depose Buhari?
His safety and life is most paramount!
A seminarian was kidnapped and butchered ffs!

adadike:
True talk dear. When we told them that the Catholic Church with over a billion members will not take it lightly if anything happens to kukah, they said it's a lie. This appointment proves that the church is following the happening in this country keenly.

Splendid! You totally broke it down well enough.
Quick question, which ioc in Nigeria pays entry level employees 1m per month? Cos that seems like the only explanation for them to meet up to 10m pa in savings.
How many companies in Nigeria in general even pays up to 600k for entry level employees?

GiantParrot:


Yes I can see how it begs some questions. But you shouldn't expect normal outcomes from exceptional people.

An engineer in a multinational oil and gas company who starts working at age 23 can comfortably save 10million naira or more per year. Investing 10M at an average of 15% ROI (common performance in many oil and gas thrift and cooperative funds between 2010 and 2019) with interest earnings rolled over annually yields over 100M naira in 6 years, thanks to the magic of compounding.

A product manager at Facebook/Google has apart from his regular pay, RSUs that amounts to $300k and vests after four years. For someone who graduated at 20 and became a program/product manager at 25, $300k vesting at age 29 will amounts to over 100M naira post the 2016 naira devaluation. Note that I have ignored all regular income here.

Truly this applies to a tiny minority of people. But these guys have always being exceptional.

Interesting. This begs for lots of questions tbh.
Most importantly, which currency were they earning in? Which country do they live in?

GiantParrot:


At least 100 million. The doctor and engineer guys stayed single, live very frugal lives and invested a lot in property, stocks and mutual funds. It is interesting how much these assets appreciate over 4-6 years of disciplined investment.

What’s your definition of multimillionaire?

GiantParrot:
Primary school topper - Product manager at Facebook

Secondary school topper - Medical Doctor in the US

University topper- Engineer at a multinational oil and gas company.

Since we measure success in terms of money in this country, I should note that they all became naira multimillionaires before turning 30.

DeKuhl:


Yes oh. Since doing the pymetrics games, I haven't heard back from them.

Yeah, same here...

All forms of day trading is gambling. I only suggested the ones that are less risky due to more predictive factors that affect their prices.

Geovanni412:


And you think trading stocks is not gambling abi. Look, the value of a stock is zilch. Go and watch the wolf of wall Street where it was stated therein. They are all termed as financial speculation. Case study : 2000 dot-com bubble... what logical explanation other than, manipulation, fits into how blucora went from 29 dollars to a 1000 dollars only to crash to 4 dollars within the space of 2000-2002. I'm not in any way trying to glorify FX trading...I'm just playing the devil's advocate here- the bitter truth is FX trading is as risky as stock trading and both of them can be carried out by business enterprises. George Soros wasn't engaged in any business other than trading when he made his black Wednesday bet in 1992 on the pound using his company, Soros Management Fund, that gave him 1 billion dollars.

Firstly, this your reply has nothing to do with the post I quoted nor what we’re saying, this is merely another attempt to justify/glorify fx trading in your eyes. Continue with the self-deceit tho, you’d learn the best way.

Also, you successfully used jargons that don’t make any deep financial meaning. Do you really understand what you’re trying to say?? Because there’s basically no meaning in what you just there, just a cluster of fine financial jargons put together in sentences.

1. Fraudulent people in retail trading?Okay how does that affect the price of garri

2. Institutional investors putting their money in forex?
Okay
I mean, companies buy and sell foreign currencies to enable them carry out simple commerce. Almost same way hedge funds, commercial banks and other liquidity providers engage innit. I mean, how can anyone buy or sell their goods/services internationally without the use of foreign currencies?
How does it then justify trading forex based off technical indicators just for the sole aim of making profits

3. 6.6 trillion dollars in which circulation? Do you mean daily trading volume instead??

Goodness, you don’t even get the basic concept of what you’re into! Go back to the drawing board ffs!!

Your whole comment makes absolutely no sense and that’s the problem I have with most of y’all “Forex traders”

You just learn a few terms and jargons and feel you’re on top of the finance world!
You learn some technical indicators and feel you’re now invincible!

Forex trading is just a better packaged form of gambling for a thousand reasons! If you must trade at all, stick to commodities, stocks etc.

Geovanni412:



I understand you. They're a lot of fraudulent people in retail trading but you cannot dispute the fact that they're institutional investors and these investors put their money in forex. You can't tell me that the 6.6 trillion dollars in circulation on the market is not pumped in by any companies, whatsoever.

Shey you know there are also at least 10 people in Nigeria that are doing absolutely amazing in sports betting??

Same with casino gambling and any sort of money making scheme in this world!!
There must be that few who are making insane money from it.

It’s essentially the odds, the probability.

palsenator:


Capital and resounding YES. There is nothing to gain by deceiving people to do what you don't do or benefit from. Mind you, I run a forex outfit ( won't mention name so as not to appear like am advertising.) .. Let me speak straight to you dear brother. Anyone who tells you that fx is easy is lying. I have more than 10 people I can reference in Nigeria who are doing well with FOREX. Our get rich mentality is our first mistake.

Totally flawed analogy!
Why do people try so much to convince themselves of something that’s logically unsound??

You’re now comparing trading forex with a public listed manufacturing company with actual assets that can be sold off if the worse happens?? A company with actual working products!

Why do y’all do this to yourself? Like why??

Geovanni412:

Let's assume he has made a loss for the past three years, should he quit trading? Lemme put it differently using this comparison, if Guinness Nigeria doesn't declare profits for two years running, should they close business? How many years on average does it take for a startup to break even? If you can answer these questions honestly, you'll realise that him making a profit is the least of your concerns...the most important thing is him being honest to himself and his clients. He owes his clients that fiduciary duty just the same way a company does to its' clients.

[/quote]

Lmao, you sound like a teenager with big dreams yet with little experience.

People like you is best left to learn from their mistakes... Dunno why these older folks ( someone that’s been into the trading for 16 years) keep advising you.

Experience is always the best teacher, only then will you understand that you’re not the smartest person on earth and you’re not so special.

On a different note, most yahoo boys camouflage their illegal wealth as proceeds of forex trading and bitcoin investments. Don’t look at your uni friends on a surface level.

Fmghewzy:


You said meaningful things bro,but on forex as gambling,it is not entirely true.

Although the stockbrokers could cheat you and you could lose your money if you don't know what you are doing.Treating it as gambling.
My friends make money from it and am also learning,are they using charms I don't know.but forex isn't gambling if you know what you are doing.

On the other things you said I agree 100%

Do people fall for these?

kalex0:
Drop your WhatsApp digit

I have a job for you

Just got a mail now saying they won’t be following up on my application without giving me further reasons.
So the whole extension was a hoax after all?!

Noemic:
Oh wow. So the extension wasn’t real for any of us that took the test after the 15th of November.
Why did they now lie about a 7 day extension ffs?!

Oh wow. So the extension wasn’t real for any of us that took the test after the 15th of November.
Why did they now lie about a 7 day extension ffs?!

Read up the thread I believe justli explained it good enough.

Farki:


So what is the exact interpretation?

This is not exactly the right interpretation. Read it up well.

Farki:


That section 230 is a law which protects Internet platforms, most notably social media and chat rooms for being liable legally for the messages their users send. It makes the distinction between a publisher and a platform for example if Punch newspapers sold notebooks and I planned to bomb third mainland bridge and wrote the plans in the notebook Punch wouldn't be legally liable for being an accessory to terrorism. If Punch however wrote an editorial, not a report, an opinion piece and guide on how to bomb the third mainland bridge the operators of the newspaper would be arrested for being accessories to terrorism.

It was debated previously because Trump, for whatever reason best known to him, wanted to scrap it.

The problem here is that now Twitter will be even more strict with their moderation policies and that affects Trump because anything he posts for example "We will destroy North Korea" or endorsement of attacks on public officials can now be blamed on Twitter and be grounds for them to ban him.



To make the long talk short if I plan to commit a crime on nairaland, Seun and the mods can be arrested because they host the site.