₦airaland Forum

Jakumo:
The first question that springs to mind when one considers the incessant public whining of Mrs. Megain, is just what the heck she hopes to accomplish by badmouthing the British monarchy. Regardless of whether or not Shrieking Megain's catalog of grievances has even the most abstract factual basis, the entire premise of soliciting paid press conferences just to complain again stinks to high heavens of self-absorbed narcissism, arrogance, and hubris.

Harry committed the monumental blunder of a lifetime by marrying an aging bitter divorcee already known to be despised by her entire family. Casting himself as a 'whupped little cowering poodle in Megain's repertoire of silly pet tricks will only compound the long-term repercussions of being associated with such a toxic individual as Megain The Complainer. Both of these two comedic characters will soon be forced to rely entirely on mercenary press interviews to stave off bankruptcy, which is a Shakesperian fate many would regard as richly deserved.

Rather than announce her plans to commit suicide, Mrs. Megain ought to simply get on with it and end her miserable existence as a public service that will delight millions of observers worldwide. With a global pandemic still raging and the entire planet reeling from the devastating economic consequences of the contagion, all Mrs. Megain can think about is her next paid press interview, and which new set of complaints to concoct for public consumption. One cannot but pity Harry as his life and heritage implode for all to see on the world stage.

QuinModah:
100k with inflation at 16%

QuinModah:
Do you live in Nigeria?

emmasoft:
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Three million Nigerians lost N18bn to Ponzi schemes – SEC
Over three million Nigerians have lost about N18bn through Ponzi schemes, the Securities and Exchange Commission stated on Tuesday. Director-General, SEC, Lamido Yuguda, said this during a webinar organised by the commission. Ponzi schemes are fraudulent investing scams which generate returns for early investors with money taken from later investors. They are similar to pyramid schemes in that both are based on using new investors’ funds to pay the earlier backers.....………

Tobex4realTobex234:
Excellent advice. I still bought from Everdon in the range of 470s last month sef. Just do their KYC and you're good to go.

It is never too late to change to dollars. Once you make up your mind about how many percentage of your portfolio should be in USD, you won't need to ask this kind of question. I don't know enough details about the peculiarities of your situation, but at the very least try to do 60:40 (USD:NGN).

ahiboilandgas:
the last time I visited the depots and loading gantries and Jetty have been completed also the fertilzer section and dealers appointed the refining sector got a lot of work but the fractionating colums is already on ground ...they also going to renovate the road to ibeju lekki to shagamu for trucking out ....the thinking is that if we can save 40 percent of forex bill from import of pms the naira is suppose to be stable or appreciate but Nigeria economic is abnormal and illogical...like now crude oil rose to 65 dollar but the naira is depreciating to 410 but when crude went to zero the naira was stable at 390 ....

SeaTrade:
Because the fulani in government think they can twist capitalism to favour their brother at the detriment of others,not knowing they are shooting themselves the foot.

NL1960:
Otedola has visited the Dangote refinery complex twice in the last one month. What is his interest in the refinery?.

SeaTrade:
They will die las las...
Everyone will dump their modern cars like C300 and lexus and start buying 1.6l cars like the 98 Avensis and so on...
Middle class will start flying bikes to work too ,that's when they will know Nigerians were really poor people and all their lifestyle was backed by government subsidies.
Not also forgetting high cost price of modern cars due to weak naira and the resultant inflation of general commodity due to high prices of hydrocarbon and in turn the diminish of purchasing power by the populace ,
Everyone will now start wearing Okrika clothes and shoes ,Tea will become luxury and middle class will start eating beans and bread for breakfast,
Associated industries will collapse also leading to massive unemployment,
Smuggling will be at an all time high and ladies and gentlemen,that's when Nigeria has fallen to the level of CEMAC countries like Cameroon ,Congo,Gabon,Equitorial guinea ,etc..
Also ,education will become useless and Embassies will be cashing out at an all time high because everyone will want to leave at once.
Not forgetting that the alumajiri will starve to death and 80% of the North will die of hunger and diseases since free money and subsidised commodities of goment won't be there no more and insecurity will die a natural death since oligarch will no longer be able to fund them as they would have other priorities Boko harm and herdsmen crises will die naturally.
I go leave the shithole for una then and take my business to Niger and join muslims and be living like a monk and embrace the pauper lifestyle.
Up dangote!!!Can't wait for this to happen,
Also don't forget you stock market will crash and render you penniless.
All your stocks will turn to penny stock,Aje.

emmanuelewumi:
Two of the people bashing the banks for charging interest of 1.5% per month, invested in MBA forex hoping to be paid 15% per month.

Who does not know that MBA forex is a scam.

Maxwell could easily get a loan at 18% per annum, instead of paying 180% to the so called Investors.

I guess they have not gotten over their losses in MBA forex scam, hence they are transferring their frustrations and agreession on banks claiming to be defending poor and helpless Nigerians

stevemims:
https://www.tekedia.com/igbo-apprenticeship-system-going-to-harvard-business-review/

emmanuelewumi:
It will depend on the liquidity of the firm.


I don't want to give them unnecessary publicity, but their asset management subsidiary is now the third biggest in Nigeria with hundreds of billions of Naira under management

emmanuelewumi:
Mail from an Investment Banking firm yesterday

Lazyyouth4u:
Just seen somewhere that Harvard Business Review is researching the success of the Igbo Apprenticeship System for possible inclusion in their publication. Interesting.

By the way, the success of GT bank was published as a case study that is read and discussed at Harvard. Kudos to Fola Adeola and the late Tayo Aderinokun (and the likes of Aig Imoukhuede and Herbert Wigwe that started GT bank with them). Must read for young aspiring enterpreneurs on how young chaps in their 30s took the bulls by the horn and created an empire in this same Naija while their lazy youth mates were busy day-dreaming and complaining about the economy

Lazyyouth4u:
BUA Group corporate strategy: Watch Dangote Group very closely. Wait for them to do all feasibility studies and enter a sector. Is it working for Dangote in that sector? If yes, we enter. If no, we do not enter...

ahiboilandgas:
he shared a billion naira to this siblings one got 150m naira no brother lìke abdulsamd rabiu standing for him to get brand new howo trucks and a b.u.a contract to Hualage cement plus training on finance....Abdul get money Pass him Papa ...the b.u.a estate Abuja consists of over 250 depluxes ....he dash is dad 250m naira to asist to completing the school the old man was buiding ...

ahiboilandgas:
the sheik died in 2019 and out of 38 heirs to the wealth only bua became very rich beyond the dad imagination...the Dad operated a textiles mill called bagauda and some dealership for sweing machine (singer) ..but b.u.a resigned in 1989 and deal in edible oils ,sugar and flour then cement and now oil refinery in variance with the family business....

NL1960:
Gbam. If i had inherited a generational wealth, wetin for concern me with fixed income when banks will be prostrating at my doorsteps to grant me credit to finance any project.

hustla:
Also used that excuse to downsize

ukay2:
Even in Coronavirus Pandemic

UGAZ are so resilience

Earning seasons are indeed joyful

emmanuelewumi:
How are these banks making money.

Zenith Bank made a profit after tax of N230 billion in 2020 compared to N208 billion made in 2019. Their equity is now over N1 Trillion.


Oga Jim Ovia will get a fat dividend of about N12 billion

Life no just balance

Lazyyouth4u:
My Oga, those were just simple customer service and negotiation skills wey them use na. Business schools dey teach those skills well well na

Just playing devil’s advocate ooo [b][/b]

What I learnt as a Sales Boy
I learnt this while working as a sales boy few months after graduating from the University in 2017. I had not yet gone for National Youth Service.
My boss was into sales of imported furniture and related household items. He had two shops, not too far from each other. While his apprentice was in charge of the branch office, he ran the head office along with his wife.
His wife had just put to bed. Hence, the vacancy. My role was to help Oga in the shop, including buying his food and washing the plate thereafter. I would resume 7 a.m and close 7 p.m. By the way, my salary was 14,000 naira.
The first thing I battled with was pride, considering that I did not use to wash plates at home at that time. Moreover, my oga was a secondary school drop-out (he told me) and I was a GRADUATE with STRONG second class upper.
Knowing that life isn't balanced, I quickly settled into my roles. I crammed the price of every item in the shop within few days. And I learnt never to call the real price of items whenever a potential customer asked for price of goods. "This is not supermarket", my boss would say.
I felt I had every information I needed to make sales but whenever my boss left me in the shop, I struggled to make sales. I had people coming in to ask price but they hardly buy.
It took me months to learn what I was doing wrong.
This is an illustration of how my boss typically attends to a customer:
Customer: How much is this dining set?
Boss: Oga (or Madam) welcome o. Come into the shop na, this sun is too hot. Godwin, bring chair for our customer to sit.
Customer: Thank you, but I won't sit; I am in a hurry. .
Boss: Okay. This dining set is 80,000 naira. It used to be cheaper. I don't know where we are going in this country o. If I told you that I used to sell this dining set for 45,000 naira would you believe?
Customer: Are you serious?
Boss: I am telling you. Since this government came into power, the price of everything has skyrocketed.
(He says this to know whether the customer is Pro-Buhari or Anti-Buhari. Either way, he would AGREE with the customer. In this example, let's assume the customer is Pro-Buhari)
Customer: It's not the fault of this government. If the previous administrations had done the right thing, we wouldn't be where we are.
Boss: You are right my Brother (Sister). I am even happy with the way this government is trying to tackle some of the challenges we face. It's true that things are difficult now, but it's only a matter of time.
(The conversation could go on and on about what the government is doing right and my boss would quote Bible on how we ought to pray for our leaders. By this time, the customer is very relaxed and friendly with my boss since they share the same ideology).
Customer: So, what is the last price for this dining set?
Boss: Well, since we are friends now, how much will you pay for it? It's very durable o, though it's Chinese product. People often think that every product from China is fake, but that's a lie. China makes quality products, just like this one.
(He emphasizes the features and benefits of the product).
Customer: Can I have it for 50,000 naira?
Boss: It's more than that. Pay 70,000 naira, let's package it for you. There is a vehicle here that can take it to your house, if you didn't come with your car. I will personally follow you, to set it up for you.
(They spend time to haggle the price. Eventually, the customer says 60,000 naira or no deal.)
Boss: This dining set is actually more than 60,000 naira, but because things are hard and "market no dey move", just bring money. If not that it's you, I wouldn't sell this dining for 60,000 naira.
(He makes the sale for 60,000 naira; the real selling price)
Supposing the customer is not yet ready to pay for the dining set, my boss would say something like this:
Boss: It would be difficult to get this dining set less than 60,000 naira anywhere around here. The only place I know you can get it cheaper is Alaba International Market. That is where I also buy from. Alaba is far from here, the cost of transporting it to your house alone would have taken whatever amount you are trying to save. Let's not even talk about the stress you would go through. And you may end up not getting quality product like this one since you're not an expert in these things. I am here everyday except Sunday, come whenever you are ready to buy it.
----------------------------------------------------------------------------------------
This method was so effective that some people who didn't buy at the first encounter, return to buy from him even though they saw the same product, at the same price, somewhere else.
After I learnt his method, I began to make sales in his absence.
Here are some lessons I learnt from his method of selling:
1. He shows genuine concern for his customer's welfare. Instead of answering the customer's first question, he offers them chair to sit.
2. He tries to connect with the customer to build rapport. This makes the customer to see him as a friendly person. Did you notice how he calls the customer "My Brother"?
3. He calls a price way above the real selling price. This is because people love to bargain. If the customer buys it at 60,000 naira, he would feel good to have gotten the seller to bring the price down from 80,000 naira. If he had called 65,000 naira initially, the buyer would feel cheated if he paid 60,000 naira.
4. He emphasizes (demonstrating in some cases) the benefits / features of the product.
5. He tells the customers they could get it at cheaper rate somewhere else but tells them why they should buy from him. This establishes him as someone trustworthy.
These lessons can be adapted to suit selling online.

Copied from Okpe Godwin Phillips Facebook post

Lazyyouth4u:
Check out these guys: Calvin Harris, David Guetta and Steve Aoki and thank me later

NL1960:
Take your time o. Wetin do DJ?. You know weda i be DJ?.

Exumal:
importers are at another level oh. Those one big more minimum net value should be around 100-200 million. I'm talking of a young business man with like 10 million and can make the same 10 million within 2 years.

afroxyz:
Exactly what I'm saying. Despite the wealth they (japanese) always instil the principles in their children. Why can't we replicate the same in our kids instead of thinking that they would be unprodutive and docile? It is the failure of the parents, poor work ethic and a culture of show-off that is affecting us

afroxyz:
If the Japanese decided to let their children hustke from the scratch, i wonder if we would know abouy the Toyotas and Suzukis. Build generational wealth, also instil generational principles in your kids. Principles and ideas also have compound interest.