₦airaland Forum

BlueRayDick:
U are speaking from a middle class point of view . It’s easy for a person in the middle class to cut down on his costs by knowing when to use his car and when to trek(in order to conserve fuel ) , knowing when not to put on generator , reduce the amount u spend on alcohol , move some items on ur basic needs to luxury list (which u will no longer be buying ) dining more of home cooking than buying food outside , etc .

How does someone who works as a security or driver who earns less than 60k adjust these trying times ? I’m sure when u go to malls, restaurants , cinemas etc u see those guys hailing u and some go a step firther to ask u “ oga anything for ur boy ?” . They use the few gift they receive in the process to augment their meagre income . Even bank security guys are almost same, they act all nice when u want to use ATM so u can drop something which goes a long way in their finances .

Now how do such people adjust and focus on earning more “decently” , considering the people that do give them handouts are now facing serious financial difficulties themselves ?

We keep enabling politicians by having ready made excuses for them at the detriment of the lowest in our society.
So because Govt is unable to do their duty by curbing fat cats abusing the system all of a sudden subsidy is bad?
And to those asking how would govt curb the abuse, abeg isn't these why they put themselves up to be elected? Now it is the public that should provide solutions?

There is nothing bad in subsidizing petrol for an oil producing country... Countries all over the world provide various subsidies, especially as life depends on it...

We have always had subsidies, if it is being abused, find solution, not following the easy route when it has negative impact on your people, example how about a system whereby on purchase at point of sale; you pay market rate e.g. N500 using your ATM card, following day N300 is credited back into your bank account... similiar to statement credit I get with some spending on Amex card, atleast that way we know it is getting to the last mile user, I am sure more robust solutions abound but not the political will to implement.

Also what is this excuse that our borders are porous? Is this a joke? Shey na okada dem they take move petrol ni? Like we are talking about huge tankers carrying highly flamable materials - definately this theft is done by the well connected, so if govt wants it stopped today, it is done - na when govt never ready for something is when we have all these excuses..

GloriousGbola:
my point about oil money comes to this

- this does not require capital

- this requires capital investment

. - this requires capital investment.

we can say buhari tried to develop a mass transit system - but he did not succeed. BRT is not doing that much in Lag. hopefully the blue line MAY alleviate but it also runs on diesel and electricity powered by diesel.

my point is these things require prior capital investment. there was money then when tinubu said all this. there is no money any more.

Chief I disagree, there was never money, Tinubu made that statement based on political calcs & most likely as someone outside of govt, just like some are still thinking Nigeria can still afford fuel subsidy? Jonathan was right all along, well not neccessary Jonathan but the smart people that surrounded him like NOI, SLS...

Tinubu & Buhari cohort saw an opportunity and took advantage to portray themselves as alternative, I get it's Politics 101 but then reality set in for 8yrs with Buhari, if you watch Buhari youtube video discussing that there is nothing like subsidy, it was so convincing - therefore if our Saint Buhari for 8yrs cannot throw away the salad of corruptions in NNPC am afraid President Tinubu does not stand a chance.

So am in support of him following through on removing subsidy, am just not happy with the sudden announce on day 1 without not having a spokesperson especially when we already have 30th of June previously communicated as end date...

larride:
You see your last line is my grouse and everyone grouse with the way this subsidy has been removed. Effective communication is a major part of good leadership. To be able to communicate your decisions to your people build trust because it makes them feel like they are a part of the decision making?

Yes subsidy has to go but how do you go about it that it doesn't impact on the citizens too negatively. The citizens cannot always be the dumping ground for the incompetence and crookness of the ruling class. That the subsidy amoung is this high is majorly because some people are using that avenue to steal. It is the job of govt to hold these people responsible and block the necessary loopholes.

Ok we agree subsidy has to go but is this the best way to go about it? Yes it's a hard decision but it becomes easily if the people are being carried along. We just woke up this morning and we begin to see new price list of fuel. Till now we still havent heard nothing from the President. That's the textbook way to erode whatever goodwill you enjoy with the people.

What they will be doing now is going to be an afterthought and the people will see right through it. It's a pity this is the way we are starting this administration.

Much Respect Sir.
Mr. President hasn't even formed his team, not even a spoke person, who will manage the comms? He can't afford to treat Nigerians like Buhari did; no offense to people resident in Nigeria - I am pro subsidy removal, like I said yesterday why the rush? June ending already announced by Buhari; either reiterate commitment to 30th of June with a promise to come up with cushioning policy between now and then, or simply keep shut on the matter till you have your people in place...

Unnecessary own goal by Mr. President; his speech writer messed up; He could have just affirmed his commitment to follow through with subsidy removal on the 30th of June as planned giving the new government 1month to ensure we put in place regulations, enforcements and plans to forestall most of the negative effects especially the opportunistic price increase of the past 24hours... Not a great start..

BlueRayDick:
I know how insurance works and I know most Nigerian businessmen can't even afford to pay premium on goods being transported. Goods-In-Transit insurance is not cheap due to all those factors we mentioned earlier like banditry, bad roads, insecurity etc. That's why u see kerosene, PMS being expensive upnorth cos the business owner will pass these costs down to the final consumer.

If ur driver runs away with ur goods, ur goods-in-transit insurance doesn't even cover it. U will need a Fidelity guarantee insurance for that(It covers fraudulent acts of employee /theft of ur property by ur employee).

The truth is just that if we were to be a more honest people in this country, doing business won't be this stressful.

Its seems it's only Asians that can do business and survive in Nigeria? Cos when I brought up investing in property shortlet or lets; the horror stories I left me still weighing up my options - only positive is that cost of finance is near zero if I ignore opportunity cost.

What business can someone then invest in? We can't leave everything to foreigners ke?

Govt should also focus on judiciary and enforcing existing laws; so that people face SWIFT consequences for their actions, for example how can we still be having omo onile issues in 2023? especially when its miscreant parading as Omo onile's creating most of these wahala...

Using Tax Havens or Other tax avoidance scheme is not a crime, could be argued as not being moral, but tell that to Footballs,Surgeons, Consultants, IT consultants & other High Networth individuals... where sometimes the effective tax paid could be 50% of your income.

OasisX:
ONDO DEEP SEA PORT: Things to know about the project.

The proposed site of the Sea Port is Erunna/Opoti in Ilaje LGA and It's christened "Port Ondo".

The Port will cost $1.4billion and will be financed through Public-Private Partnership (PPP) and to be concessioned 50years.

Am not from Ondo; but before any hailing would defo question such initiative coming from Akeredolu near the end of his administration, would this project be delivered in 2years? I hope his is not selling people's commonwealth to himself & cronies cos 50yrs is not beans.

thesilentman:
Because we live in proximity-same town, she wouldn't quit checking up on her daughter virtually every day or at least every other day.

I felt a deep intrusion on my privacy so yesterday I summoned the gut and asked her if she didn't have a house. Before she could reply, I told her, 'learn to stay where you belong! I did not marry daughter and mother!`
She has since disappeared into thin air.

This evening am thinking whether i bleeped up or not.

Note to self: Never allow your daughter get married to a disrespectul boy? Would you say the same to your own mom or father?
If her mom was rich and powerful - you wouldnt dare; these are some of the reasons for repugnant desperation for wealth we see today.

GloriousGbola:
I have said it repeatedly. There is a new cold war brewing. Saudi, russia, iran and China are forming an alignment of sorts. The loans of the 80s from the west were to ensure we were on their side. We are going to be seeing a lot more of this in the next few years.

Exactly - We cannot afford a repeat of the past, cos these new lots especially China I don't think would be that forgiving, Its crazy Mr Integrity got us into this mess.

larride:
Efcc arrest Saleh Mamman, the former minister of power that Buhari sacked in 2021 for a 22bn fraud.

How do you embezzle 22bn in 22 months ffs.

These guys are fûcking heartless.

And Buhari is still asking to borrow $800 million, less that 20days to the end of his 8yr tenure. Worst still Tinubu and APC are not saying nothing, so I am assuming they are in support, and would not turn arround to use the debt burden as an excuse for non performance.

raumdeuter:
That's 8.5% returns which is good. With no taxes.

If you are not sending the money abroad then that's even better

Well I could be over estimating AirBnB occupancy, however my fall back option would be renting out the place long term which the yield less than half that of AirBnB.

raumdeuter:
Give you acquisition cost and expected returns in Naija

I'm not too familiar with the Naija market

The volatility of Naira is another thing. Are you planning to bring the Naija airbnb profit abroad? Before your profit gets halfed when Naira depreciate

Ikate 2bedroom flat e.g 70 Million... If expected rental is avg 10days per month e.g. 500k per month.. so 6Million per annum, purchase to be funded using non leverage funds so I would put cost at zero.

Right now - I believe income will remain in Naija...

Ibime:
Typically if your aim is yield rather than capital appreciation, you should not lose your shirt in a property crash because the cheapest properties offer the best yield, and the cheapest properties don't really crash because they are what the common man can afford to buy and within range of even those earning slightly above minimum wage as a purchase option. The ones that crash significantly are all those highbrow areas. Those usually return negative yields anyway

Chief - crash affects both cheap and expensive; took me some years to exits spanish purchase, and only just exiting my Bulgarian flats at a loss 20% .

Also cheap properties does tends towards lower income tenants, and these can be difficult to manage which would affect yield, especially when combined with Work & Family life.

Oga Dayo - How do you manage the property portfolio for yield? Purchase, Tenants & Tenant issues?

raumdeuter:
I still get my hefty tax bill which gets me passed when they try to increase the tax rate again

Not looking to further compound tax bill and dealing with declaring foreign income, Hence Naija seems attractive.

What's your take on AirBnB profitability in Naija? For me it would serve as income generating asset, and also base for my approx 6weeks stays in Naija.

Ibime:
When you earn so much money in a short career, you only have one job and that is to turn it into fixed income via property. Too many of these athletes try to reinvent the wheel and go broke

For property, what are your main considerations when investing, yield or capital appreciation?

Chief, property is not fool proof ooo; lots of people lost their shirts in the last crash, and in some country these pproperties have not recovered....

raumdeuter:
Different strategies

I do different mixes. Airbnb which yield higher but have dependencies on the occupancy rates. Long term rentals which yield less but are steadier, older properties which are cheaper to acquire but require more maintenance they usually yield more but have more maintenance issues, new builds with very little issues but you barely make anything on them in year 1 to 3.

So it's a mix. Let me give some numbers. Mortgages plus HoA say 13k per month, rents 15800 per month before factoring in the Airbnb which can be zero on a bad month and 5100 on full occupancy for the month

Everything extra after paying the mortgage I plough back into the principal. My goal is to knock down as much of the principal before retiring

If I was doing full airbnb I could have made more but I'm using the long term rentals to hedge the months short term rentals airbnb don't do well

I don't have a property manager I do most of the management myself. I have a crew of Hispanic boys that I call from time to time for handiwork and fixes needed

I am thinking to get a realtor license in the future too cos the 3% realtors dey collect adds up. On a $1m purchase that's 30k. So with my license I can effectively be buying at 97% even if I don't get any friend or customer to use my services. For every purchase buyers agent get 3% sellers agent get 3%

Nice strategy, what about taxes? Income/Profit from Rental will be taxed naa, especially if you are already in the higher tax bracket...

izzou:
[color=royalblue]Leave Netflix bros.

Bringing the military in this situation is just exposing innocent civilians to the bullets of RSF

The best is to settle Rebels as they move[/color]

https://news.sky.com/story/sudan-how-elite-team-of-british-troops-evacuated-uk-diplomats-from-warzone-capital-12864485

Both US, UK & Germany sent Troops, have control of an airfield for evacuation, Naija na just unserious country.

izzou:
[color=royalblue]If you have travelled to the North, one of the ways Immigration officers question any suspected foreigner is to ask of his state of origin, and his local government.

Now there are over 6,000 people that a few officials neet to verify...How do you think 100 people will verify 6,000 without mistakes and being overwhelmed?

Everything is not about criticising

Or did you hear that they left Anambra and carried only Kano?
[/color]

I think the point being made is evacuation or boarding by state of Origin is wrong? It should be a case of priority e.g. Children, Elderly, People with Health Conditions , Females... You board after verification or Identification had been done...

GloriousGbola:
and i am telling you your choice of data is flawed

so according to you the fact that unilorin has had more muslim than christian VCs means that the school is more popular among muslims than christians

the way it has always worked - the first preference for people sending their wards to public schools is the first generation federal university. then the second generation federal uni. then the state schools. if there is any marker of preference outside of this, it would be which school guarantees a 4 years is 4 years. no one is looking up the history of the vice chancellors a school has had.

you really and truly have no idea what you are talking about where unilorin is concerned, as the school does not even have a sizeable contingent of northern students.

A001 almost made me to start thinking we are speaking about a different Nigeria University admission system, I said Prestige, Cost, Course Availability is more an important factor than religion when parents decide on school... A001
My ABU vs OSU comparison was to show Prestige as a factor, you think a parent would choose to not to send their wards to Imperial vs Sudan if course availability and Cost is on their side?
In the early 90's there was this thing called pre degree courses - not sure if it still exist, people where trouping to do it, just to comot for house after years of waiting for Admission... Most times you go where you get offer, not neccessary your choice offer.

A001:
You said ABU VS OSU. Why not ABU VS UI (two federal schools)? Generally, state schools are more expensive than federal schools.

Schools like ABU, Unillorin are more popular among Muslims than Christians.

I didn't say non-Muslim parents didn't send their kids to school in the North at all. But the majority were Muslims.

Oga you are still making my point - other factors e.g Cost, Prestige, Course Availability etc come into play before religion...

You are talking about Univeristy Education in Nigeria as if admission is not gold dust... E get how person go wait house reach after WAEC & JAMB that going to study in Borno becomes an option.
I wont be surprise if there are UK/ American students studying in same Sudan.

BlueRayDick:
Like u don’t understand me. Growing up I’ve always watched the news and each time international news comes up they talk about “Crisis in the Dafur region “ , “ Rebel forces in southern Sudan “ , etc and they show people who are refugees in their own countries . Even now as an adult they still talk about crisis in Sudan every now and then.

From a young age I’ve known the country is a politically unstable country . I find it puzzling that as a parent I will now gather money and send my child to the country to study when it’s not like the place has suddenly become stable like Present day Rwanda . Like send my child to another country that is politically unstable for so long 🤷🏼‍♂️.

Northern Nigeria is still Nigeria . Nigeria is still our country and we have nowhere else to go . But a foreign country that I have other options? If I want my child to have Arabic Education Egypt is there na. There are other countries with more stable political climate

Bros I understand you wella... But I still maintain no parent will knowingly send their children to where they would be harmed, they must have considered all the factors nah, especially the seemingly obvious ones.

Kids of my generations where deported to Nigeria by our parents; now we are parents I still remember parents in my circle repeating the same thing uptill last decade, and I guess some are still even now still sending their foreign born kids back to Nigeria to study and receive sense.. abeg how is that any different?

A001:
Very few Southern parents did that then and even much fewer do so now. And they're mainly Muslim parents. So?

But they still did, and No - they are not Muslims..

No offense - ABU admission vs Ogun state Uni Ago-Iwoye; back then most parents will send their wards to ABU, religion does not play major role... No Parent would knowingly put their wards in harms way.. Haba.
Course availability, prestige, choice, cost and other factors come into play as oppose to just simple Arabic or Islamic bent..

BlueRayDick:
Hmmmm.... It's not like I don't know these things, I'm just saying personally I won’t choose a country with history of political instability for my ward irrespective of whatever culture/tenets I seek for them to imbibe .

Countries like that are just one military coup away from serious violence and u start purging as a parent each time u hear the news of fighting between different military forces in the country .

I guess everyone has their own perspectives of seeing things

Bros, but southern parents have not stopped their wards studying in the North nah.. Even way back when there use to be religious crisis parents still send their wards back...

Amoto94:
The same us that were complaining about profiling by the defunct SARS and the attendant consequences that followed suit sees no problem in labelling just because the tag is for others. We can pretend to be objective but our bias will always shine through, I'm not fooled and I know who my friends are.

I dont think anyone here is saying do not rescue those kids or blaming the kids for studying in Sudan due to Arabic heritage, I think what most are saying is in hindsight - knowing how uncertain the situation has been in the country they would not advise kith & kin to go study in study.
Having said that - Sudan had always had security issues - I remember the influx of sudanese refugees in the early 80's; so I can understand whilst people still go there.

All in All, Nigeria needs to her people out.. We should all be joining in one voice to request the govt do something speedily, humanity above Tribe.

OasisX:


Dem dey talk North matter, this one drag BAT enter the convo.

Not trying to be mischevious cos I havent been following the news recently - Is the president elect back in town or been seen publicly? I feel its been awhile and very unlike BAT, It is too early to be going MIA

raumdeuter:
They currently pay doctors 250k which is more than other professions by a distance because they are adjudged more important, so if not 750k how much will be okay and how do we afford it

There are about 400 Senator and HOR members. Let's assume they make 30m a month which is probably false.
400 times 30m
If we take all their money and use it to pay doctors 1m per month, how many doctors can we possibly pay?

Bro - using your figures multiplied by 600 figure for NASS thats like 18Billion, will pay 20000 Doctors 750k monthly with change remaining; if we even comot PAYE, then net amount for govt reduces. If we can spend $1.2 Billion on the last useless election we can afford to pay Doctors decent pay... 250k is shit pay for a doctor...
We cannot have politicians and govt officials balling and you expect others who are actually performing life saving task to sacrifice..

Oga - Am I mistaken I took you for a capitalist republican, never thought you would support such bill... Na modern day slavery be dis naa?

My advice 500k/750k starting salary + Plus Automatic Bursary and free Tuition for Medical students, then you can begin talking about 5yrs bond.

Itsrm:
The HOR is proposing a solution that I agree with.

If Nigeria can afford to pay HoR members take home circa 15M+ per month; for a job that does not require such stressnous training then we can afford to pay doctors 5M per month.. If we can afford to spend on billions on Buhari treatment abroad we can afford to pay...

The NMA should be requesting the have its take home pegged to that of HoR.

izzou:
[color=royalblue]Can we just take a break from all these Obi and BAT noise?

Jeeezz....Una no dey tire?

Make una let this other reasonable discourse flow for here naa.
[/color]

Not until Tinubu is back in the country, APC media strategist are top notch, they have successfully moved public discuss from Tinubu escape to France to "Rest" to Obi.

What is shocking to me sha is the naivety of the Obidients, just becos the election ended does not mean the elite are not gonna try to dismantle you guys movement, as what you represent is a challenge that almost toppled status quo.. And no president anywhere wants such threat to his presidency to survive, so chief expect more of these attacks/convo going forward.

BlueRayDick:
They don't need to roast him; I don't think he regrets his actions. He did what most young people angered by broad daylight robbery called election will do. The man was 31years old as at that time.

Perhaps old age has made him seen things from a different perspective now; or he's scared applying those same tactics in 2023 would not yield a better result than it did in 1965. We will never know what exactly is in the mind of the prof now.

Nothing but the Truth, having seen Nigeria govt agency open fire on unarmed youths waving Nigerian flag whilst singing the National anthem.

Realmrsean:
Any person that has any iota of hope in this country is a fool..

Why do we need census carried out at this moment ? Not top priority IMHO. Use that money to build world class hospitals in 3 Zones of the country.

airmark:
You should have asked LP people about how they debunked the leaks.

Yesterday na miscontrue, miscontrue we dey hear, as if we no go school to understand the conversation on the twitter space.

No Sir, Did you hear about it from LP members? All LP members and most neutrals have not heard such..

Larride has proven to be fair in his discussions here, he is more APC than you cos he is on ground unlike you abd me who are based abroad, he also attends party meetings and personally if such plots are to be discussed anywhere I would hazard a guess that it would be Ikorodu & Alimosho environs as they never turned up.

LP was never gonna win lagos in this election cycle, as evident on this thread most lagos based people who voted for LP in presidential stated they where gonna vote for Sanwo Olu.

Most APC partymen I know where disgusted as the ish turned tribal, Samwo Olu was always gonna win but I was happy seeing him putting in the graft, going from mechanic villages to churches.. Heck Aregbe went to solicit votes from the Hausa community that how it should be, not politicians believing power belongs to bourdillion.

larride:
You think telling you to shut up is an insult?

Don’t shut up, continue parroting the Lagos is a no man’s land renovation and when you are done, enter bus and come to Lagos to come and say it.

Chairman you have been on the side of truth whilst supporting your party APC, I remember your candid assertion putting the blame for APC losing lagos in Presidential poll rightly as APC people not turning up. As an APC partyman on ground in Lagos, where you aware of any plans by the Igbo to takeover lagos and depose our King?

I had warned repeatedly regarding this Tribal ish, and we all should cos The only thing necessary for evil to triumph in the world is that good men do nothing.