₦airaland Forum

That traffic that had Kogi state governor also catch you?
Sorry o. Hunger wire you be that. I never understand why those trucks like going bad side by side each other.

ahiboilandgas:
yes ooh do your thing.....Nigeria limits aspirations,big dreams , big imagination becos several meanless obstacle ....i spent 14 hours stuck up on traffic from benin to abuja...i spents 13hr at a spot call murtala bridge the kogi was stuck too for over 5hours ..cos lack of cranes to carry two truck that got accident on the bridge connecting north and south .....stand still starting on Friday until monday ....no moving back or fronth

Exactly, for a lot of people, it just happens. I suspect some people influence it also for PR reasons.
If na naija, I for say some people even de pay for am sef.

ahiboilandgas:
aside the saudi royals and other baron and baroness.... most invrstor/ people dont aspire to be on the list it just happens along the line the list came to them ....trying a solve a programming issue lead to Microsoft boom bill on the list, trying to survive as a human dangote collected loan to start buying and selling cement boom along the line enter manufacturing of cement ,fertiliser and now petrol....ahib oil and gas is tyring to live boom he transporting,retailing aviation fuels ,pms ,ago cements ,along the line enter fixed income ,share,property then futher move to invention....who know what next for me only God......

This is really a nice twist.

maishai:
This is also like an advice to those of us in cities and build mansions in the village......... u cannot expect to use the proceeds of village rent to live large in lagos

Nothing wrong with any of those things, but people need to learn how to do the right thing first. At least even you can see that most times it is just an excuse.

NL1960:
Societal pressures make them borrow to do these and that is how more problems start.

You and the other guy should take your talks to political section, for someone who claims to be widely traveled, this is a very low low from you. Calling people fools for exercising their belief and constitutional rights?

DexterousOne:
Really
They are fools.

A man who failed at all he did is whom Nigerians gave the key to Aso rock for 8 years
For some due to stupid tribalism thinking

It's a long ride till 2023.
Unless buhari drops dead and Osinbajo takes over
Nigeria will keep spinning till then

Really? but somehow they are always able to at some stage save to buy a car, do a wedding, beer on friday and sometimes birthday parties?

NL1960:
Not easy o. Too many things take money in Nigeria. Most times, people see themselves operating pay check to pay check.

Before Ema comes with his expert opinion, I will share my own thoughts. Inflation does not compound as the investment would, so at the beginning, inflation may be drowning your investments but after a while, that investment will have acquired its escape velocity and rise above the inflation rate, as long as we do not head in the same direction Zimbabwe and Venezuela got to.

mindtricks:
Oga Emma, this thing inflation, I know has been touched at some point before.
Can you factor it in this 40m compound scenario.

This is easier said than done.
Many parents in diaspora get to realize in old age. It is difficult enough to get your kids born in Lagos to know their home town not to talk of those who grew up in such development, it is really hard for many of them to see Nigeria as home, so when the old man decides to return, he finds that he returns alone.
It is a big challenge.

TotoNaRubber:
The man had money but didn't plan well, asking a woman living in a developed country to follow you back to Nigeria with your children is like running faster than Usain bolt.

His priority could"ve been to build life for his kids in Naija, as soon as they turn 18 years he take them to naija on holiday and get them to start family life there, the wife will just be in complete loss of control.

See a comment made some days ago. Unlike TB where government can just print in Naira, unlike forex that government has no control over. Ahib shared the Lebanon situation some months back.

Tripleaj:
Government can default; how please.

PresidentBuhari:
Euro bond investors take note, the CBN and banks now have a backlog of settling foreign debt obligations, there is currently up to a six months delay or more.

If you have Eurobonds investment or foreign currency denominated debt instrument, attempt to withdraw from it and give us an update.

There is someone here that always reminds us that except you are paying school fees with forex or doing business that involves repatriation of funds back into forex, then devaluation should not be your worse headache, instead worrymore about inflation. I think he is right

NL1960:
Gbam. I always wonder why this comparison and conversion is always done. Anybody investing in a foreign country should always factor in exchange rate risk into it. If the owner of that property was in Nigeria, he would not be bother about exchange rate if all his spendings are in Naira.

Compound interest is like a miracle or magic, it has enormous power. When you compound first fruits, second fruits, third fruits so that you get to a point where you will have more money than you can spend. Even civil servants can be surreptitiously rich in 18 years, if they just have the discipline to spend just a fraction of their income on compounded investments.

emmanuelewumi:
The property bought for N12 million in 2004 which is currently worth N18 million in 2020 over a period of 16 years.

Gave a poor returns of about 2.5% per annum compounded over a 16 year period, either the property was overpriced when he bought it

That N12 million invested in a very conservative money market fund at a below average return of 8% would have compounded to N40 million in 16 years..

You can do the maths.


Compound interest, this is what some people don't know. But fixed income Investors understand it so well.

I suggest they have two portfolios, one denominated in their forex and the Naira one. The Naira one should/ can be invested in Nigerian investments and instruments, ditto for the forex portfolio.

That was why I was asking the other day if there was a global form of Mutual funds or investment. Eurobonds and co are good, but you are at the mercy of the nation's Forex inflow which means the government can default.

ahiboilandgas:
meaning people with foreign income (exclusively)should not invest in local income generating aspect

If we keep doing this direct comparison, the person will just have headache. Best approach for now, use your forex investment where you are and only naira investment for naira.
If the money you used to build that property was in Naira, and since then you have increased rent from 500k to 800k, then nothing to really worry about.
But you sef, u wen na Abuja u mostly de, why rent a house in Lagos that you do not stay in all the time, do you have other people living there?

ahiboilandgas:
This the biggest threat to fdi flow into Nigeria and it affects everthing.....some firm will not invest in Nigeria unless return are above 40 peecent per anum....some will never invest in long term project only short term items like omo auction,euro bond etc ....this form reeason why total refused to build in refinery in Nigeria that r.o.i could take 20 years while cash flow are in very unstable currency

Is balogun market an official market? If no, does that make it illegal?
Not being official does not make a thing illegal.

Donbrig:
If parallel and black market are both unofficial markets, they could as well be termed illegal markets in a sane society. Why is our govt or CBN not cracking them down and still allows them to operate as if they are officially legal?

This DangCem just suddenly start to rise. The rise looks very steep.

Haiti, Trinidad and Tobago etc. This black issue should really be investigated.

LordAdam16:
...Are we to talk about discrimination? That's inherently human. That's why homo sapiens are the only hominids today. We helped nature take care of every last living hominid relative. And when they were gone, we turned on ourselves.

So if you look back far enough, there is absolutely nothing unique about the African American experience. That's why I consider using that experience as justification for falling behind in virtually every facet an excuse.

And the most indomitable proofs are Haiti, every black-dominated country in the Caribbean, Liberia, and Sierra Leone.

Haiti led a successful revolt and was established in 1804. Almost 160 years before we got Independence. That place is a worse sh*thole than Nigeria. No Jim Crow. No Voter Suppression. No white-on-black discrimination, police brutality, or lynching.

Starting in 1824, the American Colonization Society paid transportation for 6,000 free blacks in America to emigrate to Haiti. It was a resounding failure. Most of them returned back to the US. Yes, they willingly chose to return back to the whites in the US who discriminated against them than live with the free blacks in Haiti.

Over here in Liberia and Sierra Leone, I don't have to say much do I? Even with our problems, we had to mobilize soldiers to stop them from massacring each other. Would you also use Jim Crow, police brutality, and white-on-black discrimination as justifications? The African Americans in Liberia formed an elite called the Americo-Liberians and discriminated against the indigenous black people who made up 90+% of the population. Holding on to political and economic power to this day. Where else did that happen in Africa? Oh I know, South Africa.

When did Liberia get independence? 1847. One hundred years before us. Like Haiti, Liberia is a worse sh*thole than Nigeria.

So when folks chat about the Europeans or Americans like they're a special kind of monsters, I have a hard time reconciling that with history or accounts of what black Africans have actually done and are capable of...

One forecast that went terribly wrong.

Sholapey:
Interest rate movements are unpredictable due to economy mismanagement.

People who have never handled a cutlass much less cut a blade of grass will never understand why and how difficult agriculture is even cattle rearing. That is why they can easily believe the high returns.

ahiboilandgas:
please what digital about agriculture....if they want to run a firm like okumu oil plc...let them do ....give us audited reports ....

Musicians

ahiboilandgas:
sorry those band escorting the coffin with uniform na undertaker or dance band?for corspe

50k. They saw you guys as rich then. What of the dance band, they non use your name sing?

ahiboilandgas:
They even held the coffins hostages untill we sprayed over 50k on them...

Leave undertaker, those guys invest for real sector of the economy. Lol

ahiboilandgas:
yes she grew up there...while my friend in Abuja and went abroad...na only 5 of us come for him .....meanwhile he the main contributor......i luv the aspect of feeding a lots of village people with good food more than 3000 people ....my only issue na those undertaker dancing with the coffins endless to generate money...

The person on ground tends to have the most crowd plus she go get many meetings people plus church members.

ahiboilandgas:
thank u very much for the respond....i don spray the sister ooooh...i no know ..it seems 80 person of the spray is for her own dance.....no wonder she requested to dance alone ...then other ......nijia woman with sense....but she try ooh all the physical organization na she do am...

Put for envelope give ur guy. That his sister go colonize that money. Ideally they supposed share am or each person take his own share during the dance process

ahiboilandgas:
will dey share the spraying money ...cos i go soon do another round....or put for evelop give my hommie

Lol... na burial u go for abi na research u go do?
Incase u non know, non be who bring the lionshare of the money go collect the lion share of the spray money

ahiboilandgas:
I now have a clear underatanding ...the 5.2m naira burial .....over 2mhas been sprayed and donations to family...some envelop still un open.....not too bad .....

Emma wummi, Emmasoft and then another Emma, so once your name is Emma, you don be financial expert be that.

emmanuelewumi:
Emma na you be this?

Then they will go out and start shouting, "no one wants to help"
Nigerian problem is 70% problem.

emmanuelewumi:
Rather some people will want a total stranger met on the Treasury Bill thread of Nairaland to come and invest in their start up or current businesses .I have had and still having series of such invitations.

Lol...They are products of too many motivational speech that preach other people's money.

emmanuelewumi:
For enterpreneurs the primary source of start up capital, should be your personal savings, grants or soft loans from family, friends, neighbours, church or mosque members, old school mates etc.

When the business has a track record, after being in operation for a year you can then approach a bank for a loan for the expansion of your business.

When Peterside Atedo wanted to start Stanbic IBTC about 30 years ago he used the money he saved as an Investment banker for 10 years at NAL merchant bank, his father who was a doctor also invested in his son's business, he also invited his friends, Peterside also invited his old school mates from Kings college.

Unfortunately these days you will see people who want a total stranger to invest in their real sector dream. They want Investors to invest 100% of the capital, yet they want to own 70% of the business.

Who does that?

I think it is an alternative if you look at the context in which landmann is looking at it. He is saying that people simply moved their idle funds from TB to Sukuk or bonds and avoided the real sector market that the low rates of TB was meant to stimulate.

emmanuelewumi:
Sukuk or bond is not an alternative to Treasury Bills.

In the capital market, business can raise fund either through equity or debt.

FG bonds, corporate bonds, State bonds are debt instruments.

Treasury Bill, Commercial papers are money market instruments

The financial market is divided into capital market and money market

Okay thanks. I have something like that with stanbic even though they have now increased their subscription amount but I was hoping for a more global portfolio.
Thanks for your kind response.

otomatic:
United Capital has a dollar-denominated mutual fund called Nigerian Eurobond fund. The bond invests in FGN eurobonds and other qualifying SEC registered eurobonds. Minimum subscription is $1,000 for 90 days. You may contact them directly for more details/due diligence.

Is there any international form of mutual fund that one can invest in using foreign currency?

Loyola Jesuit, Abuja is not your typical private school where parents can go and intimidate the school authorities and the teachers. When your kids get admitted into the school, the students go through an orientation process as to what the dos and don't of the school, at the same time parents go through their own orientation program.
There is no tolerance for "Do you know who I am" attitude from any parents and like you said, the main challenge is even getting your ward to be admitted because of the highly competitive entrance admission process.

NL1960:
'Not very expensive' is relative. What might be very expensive to you might not be very expensive to others. That is why i added it. These are private schools and not public schools. I doubt private schools are free or cheap abroad like public schools in the same abroad. So if you can put your kids in a private schools abroad, then you can afford to also put your kids in any of those private schools here including Loyola. Fees is not even the issue in Loyola. It is passing the competitive entrance and interview. They normally admit 100 students. There is no midstream admission even if some students drop ou midway. Thousands take part in the common entrance every year with examination centres in US, UK and Canada. The interview for those that pass the common entrance normally span 7 days or more.

But this is the same thing Barrybone was always saying, why your change of position?

ahiboilandgas:
i think 50 percent of people in Lagos have no business been here .....too much suffering