₦airaland Forum

Sometimes it is very easy to be removed from reality when ones hears the different currencies and millions mentioned on this thread. I went through this thread https://www.nairaland.com/6491625/30000-salary-earners-how-cope/1 and my heart bleeds meeeiii.

It is so easy to sit on a high horse and judge people, sometimes threads like this helps us understand that the suffering some of us call suffer na heaven for a lot of people.

Oh okay, didn't know that.

izmercy:
That was in the days when you were paid naira when you received dollars from abroad via WU and co. But now that they pay in dollars, they even prefer to accept lower bills in order to have bills to pay out. I think the major problem is just the date range.

Not any amount ooo. Banks de select max amount of low denominations they de accept. They won't even accept $50 at a go. I doubt if they will accept $20 even. At least I know that for gtb.

ahiboilandgas:
yes nah ......smart travelling students buy this smaller demonition...cheaper .....i can deposit any amount of smaller dollar into my dorm accounts......if u know u know ....this use to be business of some bdc people deposit and withdraw 100 dollars bill from a differ bank and live large

You sold GNLD?? You try o.
Ah, if you can sell those products, then you can sell anything. Na you suppose de create motivational content now that really fit our environment.

Even then, the foreign motivational content have their role also. They increase your self belief, change your mindset and make you feel you can do it, however, many of them do not tell you the HOW? I think that is where a lot of people have problems with them. Many of them make their money from public speaking.

Then the naija motivational speakers will say things like "I started with one feather, now I have a multimillion naira poultry". many of these ones say one thing and are sometimes involved in other despicable things. Then you have the motivational pastors. I have nothing to say about these ones.

seyisanya:
I would say I never wanted to remain average, so I decided to do something about it.

I vividly remember how my first and second JAMB landed me LASU and OSU, respectively, but I had to let go because there was no way I could afford the school fees of a state university. It was my third JAMB result that gave me access to a federal university, which I was able to pay for from my proceeds selling GNLD products.

Yes I saw that. I am not saying they are wrong but I am just not convinced.

My thinking is that the earth is such a large reservoir that once a charge from either points of earthing enters it, it gets lost so the question of it conducting between the different rods seems to me very very unlikely. But then, who knows?

microgiant:
You got your answer.

Thanks both of you for the clarification, but somehow I still do not really agree with the reasoning that having isolated earthing not bounded together should poise that much of a problem. My common sense engineering knowledge makes me think that such charges will look for the lowest and nearest resistance to discharge, in that case a nearby earthing may be the best option.

Personally, I earth the frames of my panels after seriesing the frames, close to where they are. Most panels usually have at least one hole or opening indicated with an earth symbol that can be earthed.

NiyiOmoIyunade:
Can you provide a reference please?

AFAIK, all certifying authorities that issue code and regs agree that multiple ground rods reduce the effective resistance and therefore increases the effectiveness of earthing. The trick is to space the sunken rods apart 2 to 3 times their depth.

What is frowned upon is isolating the ground rods hence all earth installations in a facility must be bonded together - this is primarily for personnel safety as the ground between two unbonded rods could become a conductor and kill persons or animals caught in the line of fire - apparently this used to happen a lot in the U.K and North America on farms and so on.

microgiant:
Thanks for the clarification. I understand what you meant is you can have multiple earthing rods, but once it is tied together they act as one massive earthing rod, with earthing connected to the nearest rod.

What ojesymsym referred to, is also correct, based on your explanation. Some people use multiple earth rods, which are isolated from each other in the same building, which I understand is what this literature say is "wrong".

For a bank like Stanbic that has very few branches and even when you enter the banking hall, you see few customers, this is really impressive.

emmanuelewumi:
Top 10 banks in Nigeria in terms of profitability in 2020

There used to be a literature back in the days suggesting that having more than one earthing was bad practice. Never really agreed with it then.

NiyiOmoIyunade:
It must be connected to a conductor with very low resistance/impedance to ground.

Earth rod, wire mesh, earth mat, buried copper wire, building metal reinforcement (ufer ground), water main (water corporation pipe), metallic frame used to mount water tank are all possibilities either as stand alone or a mix.

Just know that if you use a public utility like water pipe, you may be executing your neighbor a few houses away or some random kid playing around if you have a fault diverted to earth. Of course it can't be traced back to you and you yourself may not even know you electrocuted anybody so no biggie I guess

The goal is to measure resistance 5ohms or less after your earthing is done (some say 25ohms) and be able to maintain this value over the years.

If you don't have a good earth point for faults to go to, please do not install an SPD as you would just be making things worse.

Driving a few rods some 8 to 20 feet down can be done at low cost and small footprint - you do not really need those massive pits that our people like to dig - use a coupler and drive down two or three rods coupled together in one spot, move away thrice the depth of the coupled rods and sink another set and be done with it - judicious choice of soil site for earth rod or soil treatment with enhancement material will ensure permanent results.

Above all measure else you can never tell how good or bad your earth is.

See below a customer with poor earth before and after driving rods down and we did the extra rods in his flower bed without disrupting anything - two coupled rods in the house and another two coupled rods outside.

We met the facility's own earth at 44ohms, we joined it to the estate earth point which was reading 51ohms to get a combined 22ohms - this convinced the customer the benefit of multiple points bonded together - then we drove down additional rods as I explained above and got 5.3ohms - this is in Lekki sandy soil, no treatment or enhancement as the man did not want to ruin his lovely garden so did not permit to dig a hole or even use an auger

Very true.
Collect token and let boss enjoy the rest.

maishai:
One reason many people can never be entrepreneurs is the TRANZACTION COST in dealing with customers

Reading an annual report or going through a company's account summarizes figures and not hurdles encountered in making those numbers true to meaning

Take sales for instance, many might not understand what it takes to make sales, the chasing of customers up and down, undercutting of competitors, giving extremely generous credit lines , @ times lies we generate to avoid taking back goods and services gone bad from customers ....... This usually is for the one man business


When you cap this transaction cost up, many people including me just prefer to collect a token as wages and allow Oga deal with the rigors of business

It happens a lot in many corporate organizations.
Most salaries are dependet on what a person brings to the table, if he knows his self worth and his negotiating power during the interview.
As a matter of fact, you can employ 2 individuals for the same position on the same day and yet have different salaries depending on what both parties negotiated during the salary stage of the interview.

afroxyz:
We are talking about salary struture for pwople working in the same position

Na only for civil service everybody for the same scale de always get the same salary. In many private organizations, if you stay too long, those employed after you will negotiate a higher salary than you and you won't know until one person slips up one day and spills the information.

I am sure that many people who are only used to bank and Chinese company type of contract staff do not know that it is possible for contract staff to earn more than some employees.

I guess most of the bad name entrepreneurs have comes mostly from traders, which is mostly a subset or just one aspect of the world of entrepreneurs.

QuinModah:
85% will do the bolded reason you need to put it in the form that any sublet withh attract an outright EJECTION and ask how many people will be staying with him.

@Ahib, just leave your observation or story as "Food for Thoughts".
The argument of entrepreneur vs employee is a very difficult argument to have any day.
Just leave it as a story that you saw play before your eyes within a period of 10 years and not as an argument for or against.

ahiboilandgas:
u are missing the points....why would any one having 1.8 bn naira in zenith share still working for salary..

He said real life observation and not an analysis.

maishai:
Why judge

This line of reasoning comes from the assumption that There is a blue print for the ideal life

Lots of assumptions are rife in the analysis

This one na real MBA type of study.

ahiboilandgas:
Enterprenureship vs job ( 8 years study of two of my Tenate ) tenate (A) enterprenure Married with 4 kids...tenate (B) zenith bank married with 2 kids....rent 350k per anum .....Tenate A started out as a cold room manufacturer and retailer and wife whole seller of food stuff ( young couples ) while Tenate B zenith bank and house wife

I think I saw something like that in their site.

Are you familiar with them?

ElectronicMoney:
Does IQ Options have a platform for trading stocks?

God bless you for this.

NiyiOmoIyunade:
The best way to think of this device is as an add on at your CC or breaker terminals - current is not passing through the device in normal operations but in a case of surge or fault or sudden voltage rise the device operates to present a very low resistance and shunt the surge to earth.

What you should do is get suitable wire around 6mm2 minimum and cut to suitable lengths and wire as below.

Some people wire this at the CC PV+ and PV- but I generally prefer to wire it at the always on side of the DC breaker in case of loose contact or whatever you don't want to be fixing an expensive CC and also better if the fault condition was mostly dealt with before the CC as well

Oh okay.
Is it just the tenure that differentiates them?
What else does?

emmanuelewumi:
This is Commercial paper naa , tenure of 180 days to 270 days

Corporate bonds are different, the tenure are from 3 years and above

Was sent to my mail by Afrinvest. I believe a google search could pop out the link.
See attached picture for rate and quote for message

MTN Nigeria Communications Plc Commercial Paper
We are pleased to inform you that MTN Nigeria Communications Plc (“MTN Nigeria” or “the Company”) is seeking to raise up to N100.0bn in the Series 3 and Series 4 issuance under its N200.0bn Commercial Paper (“CP”) Programme in order to support its working capital and for general corporate purposes.

MTN Nigeria is the leading telecommunications operator in the largest telecoms market in Africa. The Company is the largest mobile operator and undisputed market leader in Nigeria as measured by total mobile subscribers (c. 76.5m), active data users (c. 32.6m), revenue (almost 50.0% of industry) and profit pool. Nigeria offers an attractive telco market proposition as Africa’s largest economy and most populous country. Mobile voice and data subscription continues to be a major part of consumer spending, largely driven by increased adoption by the young population. It is important to note that in the prevailing COVID-19 environment, MTN Nigeria continues to sustainably strengthen its subscriber base, while customer voice and data usage remains resilient.

emmanuelewumi:
Can you share the link. I know they issued commercial papers few months ago

I thnnk there was something from MTN recently also.

emmanuelewumi:
Income generating property is self explanatory.


For corporate bonds get in touch with your Stockbroker, United Capital, Lapo Microfinance, Primero Transport are the few that raised funds not quite long ago

From what you have described here.
You weren't going for anything fanciful. I did not see you mention painting which implies that tenants handle their painting.
Demographics also for such a building is usually bachelors, spinsters, newly married, single mothers, young families and those with families outside town who just need a place to go to and fro work.
I am surprise that people are willing to pay that amount for rent in that axis though.

Another thing is that in about 15 years, God sparing our lives, some big shots will entice you with money to sell especially as that axis is drawing a lot of attention.

ade101:
Agreement: 30k
Commission: 30k
Caution fee: 20k
Rent: 350k
Total: 430k

Agent collected 30k, negotiated the agreement with lawyer and paid him 15k. I took the caution fees. I think I was wrong in my calculations of the first year return which was based on the fact that everything goes to me.


LOL @ market something... Well you are wrong on that. I'm a newbie forming pro cus I was helped. Trust me, I have nothing to offer anyone here rather than explain what I went through as detailed above. So you can have a glimpse that it's possible to achieve. Anyway, the only reason I gave out my experience so far is to help people trying to make a decision. When it comes to building houses, knowing the right people who understands your budget matters a lot.

I was asking people for advise trying to understand how much it would cost me to build a house so I could compare with tb and money market but what I keep getting doesn't come close. Until I open up to my own bros... Then he guided me. First he's into developer style of real estate so he has so much experience with cutting cost. I never really took the time to note down cost for each stage. I could only guess based on what I had. Emptied my money market of 15m after getting a land for 3m half plot. With no income coming throughout last year cos I'm a travel agent and airport was on lockdown..

...

What I learned:

If you are building for business purpose. You need to know your targeted rental return and try to not over spend..

Also, the amount you spent on a house depends on the people surrounding you, their experience in achieving low cost design and their interest in seeing you succeed with it.

I was just lucky but I believe anyone could do the same. You just need someone loyal, might even be an agent that you have promised will be the caretaker.
.

Congrats, I hear you have now graduated to Senior Youth.

Anyways, the guys on the US stock thread tend to complain of many juicy stocks not being listed. In any case still help me look those 2 foreign firms if it is convenient for you.

Lazyyouth4u:
I don’t see anything wrong in using the accredited fintech apps that make it easier for Nigerians to buy US stocks. They don’t invest your money. You make all your investment decisions and only use them as a platform to invest. Your money does not stay with them but goes to brokers that help you purchase the stocks. As long as they are using brokers accredited by the US SEC, you are good.

See I am not negative all the time. Sometimes I wear my white hat

Hmmm interesting.

If you are not comparing Apples with Oranges then the difference between the two graphs are too glaring. You have not even accounted for devaluation of the naira since then.

Good thing you brought this up, I recently have already made up my mind to also diversify into the US market. I am trying to avoid Trove and the different fintech apps, I know portfollo seem to be popular on the US stock thread but my own research is leading me towards swissquote and iq options, the registration pages have Nigeria in them so I am assuming they accept Nigeria in them. Is that something you are familiar with.

Laxyyoot, abeg help me wear your black hat check those foreign app. I know the first huddle of whether or not u live US stock has been jumped na just weda those 2 apps pass your stress test remain.

jedisco:
Yeah... You can check the Dow Jones (attached below) which also tracks 30 big companies or the S&P 500 (which tracks more but with different indices) to give an overview... They have both been on an general uptrend for decades

The combined NSE 30 (2nd pic) on the other hand, has been generally stagnant for the last decade but at least more actionable

Looking into individual US stocks, of course different stocks performed differently... Popular Tech stocks have been thru the roof while banking stocks have have generally had a sustained recovery from the 2008 crash

If the guy is able to successfully prove that he spent that amount, I see many building contractors losing jobs soon.

They go need to come explain how them de build their houses since.

arduino:
I had to read his post three times to be triple sure that eyes were not sending the wrong prints to my brain.

I understand what you did for NSE, I am asking if you ran same analysis for NYSE (US) stock also?

jedisco:
I looked at the historical share price of currently listed NSE companies...
You can check them out on investing(dot)com

Okay, was asking what their growth rate was also like? How many also went bankrupt along the way etc.

jedisco:
NSE 30 means group of 30 tstocks on the NSE which are usually the top 30.

You also have NSE 50

Most stock exchanges have such groups. It gives an idea of just what the big boys are doing.

Did you run this same 30 years analysis for NYSE? What was the return like?

jedisco:
While I understand the need for caution while investing, it's interesting you equate crypt0 to ponzi...

That you don't understand something does not mean those who do are wrong. A good number of Nigerians don't understand Facebook or Twitter, it doesn't stop those platforms from having revenues that a lot of states combined don't have. Moreso, those platforms affect the day to day running of our nation (e.g SARS protests)

Coming unto investment, there's the inherent risk of volatility in trading crypt0 (just like any other market) moreso when folks move away from Bitc0in. But what are the alternatives for a young savvy investor? I'm sure if it was TB's or the NSE young Nigerians were trooping to, you wouldn't call it ponzi...

Taking a look at the NSE, most of the older folks there have no idea they have been loosing money over the years in real terms. I've pointed out here that someone who just kept money in dollars 10years ago would have outperformed over 95% of NSE traders over the last decade.

We keep hearing FUGAZ as the posterboys of the NSE... Take a look at the FBNH monthly price chart for over 10years and tell me how an average person made money on it just in naira terms (let's leave devaluation first)? A 30 year old who bought $100 worth of FBNH in 2010-'11 for an average of 11 naira per share will have stocks worth less than $17 today (dividends aside- which are even more pitiable). Imagine the case of those who bought at 15 naira. Is that what you want a young Nigerian to invest in? A market where you're almost guaranteed to lose money?
I've personally gone through the NSE 30 price charts for the last decade and beside a few, almost all are in a pitiable state. That young Nigerians are leaving their local market to invest in the U.S stock market should tell you something. Money is like water, if old folks had made money in a market, new players will troop in.


Bitc0in on the other hand has been about the best performing asset of the last decade. If I was going to risk investing, I know where to belong.

If you want you young folks to troop into local investment options such as the NSE, then the narrative should be fixed.

Your brother wanted you to break Lagos state government law?

I think people who rent such apartments know the competition and tend not to default.

But I think your building cost is kind of low. How did you achieve that?

ade101:
Yes. It should have been sold out within the first week after completion. But I was following my brother's advise to insist on 2 years first payment. Na so everyone dey turn back once they come for inspection and heard the landlord is requesting 2 years first payment. After 3 months nobody pay , bros still dey advice me them go take am no worry, I just call my caretaker to start taking one year jare, I needed money... Sharply, tenant full house...

Occupancy rate for this type of apartment is around 200%. As one de commot another one de enter.

Nice one

ade101:
I can see guys are exploring alternatives now that tb rates are not attractive. I can't thank God enough for making me take the courage to diversify into real estate. I keep asking people the average rental returns from building house, trying to compare with my stable and guaranteed investments (I do tb and Stanbic Money Market) but I could not get an actual value. Many variables involved yet I didn't give up, started meeting people, engineers, real estate agents, and eventually, I realized there's nothing to be scared of... I emptied my money market, buy land for ajah, get seriously involved to minimise cost.

Bought land at lakowe, Ajah for 3m half plot
Built 8 units of room and parlour self contain (4 on the ground floor and 4 at the top)

Total spent about 13m

In total spent about 17-19m

Started renting out and within 5 months, all units has been occupied @ 350k annual fee (agreement and commission took the first payment to 450k)

Total return from rental first year: 3.6m (450 X

Expected annual returns onward : 2.8m


In percentage :

First year : 20 percent return on investment

Expected annual return onward: 15.5 percent


There was a time I got this value from tb (2016 - 2018), money market has always been around 13 percent at peak for me.

I'm just glad I now have a stable return of over 15 percent without worrying about rates dropping...


To blow your mind : I have just been introduced to developer style of real estate... I have already signed a property self.. Cost of buying land and building from ground up (foundation construction) is off... Based on the site engineers quotation, with 6m, we should finish the renovation work and paint the building. Family one off payment was 1.5m so in all, about 8m should finish everything. They are leasing the building to me for 12 years and annual returns expected is about 3.2m.. That's over 35 percent return annually.

I don't think I will ever go back from real estate...

That's my personal experience, so if anyone is looking for alternative, do your findings on real estate. And be careful, don't cut cost, always go through a reputable lawyer, they are not that expensive, street is hard even the lawyers fees are now negotiable lol... All the best.

That's why they are likely to have a higher collection Raye than the commercial banks.

In terms of taking them to court, I want to believe that somewhere in the fine prints that the loan collectors must have agreed to a lot of these things and lot more.

Many Nigerians see loans as their own share of the national cake with no intention to pay but microfinance banks know how to deal with such people. Some defaulters from microfinance banks commit suicide, those from commercial bank keeps flexing life.

emmanuelewumi:

Calling people on your contact that one is owing is quite wrong. I expect someone to test this in the court, it is breach of privacy. The person will cash out, the money will definitely be bigger than the amount owed.

I am okay with the average 25% per annum which I get from my banks, instead of 50% to 60% per annum from loan sharks

I have no real data, but I know as a rule of thumb that loan sharks and money lenders generally make money because they are able to employ unautodox ways of collecting their money, some of which commercial banks cannot employ.

emmanuelewumi:
Do you have information about the performance of the loan? What is the percentage of non performing loan? What is the total loan granted? What is the total deposit?

I have no real data, but I know as a rule of thumb that loan sharks and money lenders generally make money because they are able to employ unautodox ways of collecting their money, some of which commercial banks cannot employ.

emmanuelewumi:
Do you have information about the performance of the loan? What is the percentage of non performing loan? What is the total loan granted? What is the total deposit?