₦airaland Forum

By the way, the Architect and Engineer are indispensable in a construction project. For example:

An Architect can locate your porch depending on direction the sun sets or rises (so you get a cool or sunny evening whichever you decide), ventilation designed with respect to existing structures, space maximization, functionality, etc

An Engineer would save you a lot of money. He is trained to tell the EXACT no. of steel rods you would need for a sound safe structure. And I mean EXACT!!
Why use more steel etc than you actually need. As a matter of FACT, more steel than needed could actually make the structure weaker, not stronger.

The MAJOR problem/misnomers is that everyone is an "Engineer"; and we too like deal.
Half-baked OND/HND building tech, draftsmen, bricklayer and any other construction related field is an "Engineer.”
By law, if you are not registered by COREN (Council of registered Engineers of Nigeria) you cannot use the title "Engineer"; you would be prosecuted if detected.
Names of all Engineers are in a register/published book easily available and sold from COREN.

The proper thing (which you will not like to do) is to give the job to confirmed COREN professionals, and go to sleep. Reason being they charge professional fees, which are really not exorbitant.

With humor, let us discuss the cheap crude method u will like, and still be relatively safe.
Anything "cruder" than this you most likely will NOT see sleep, !!

For homes i.e. small scale

1) Get a Land Surveyor to provide new SURVEY plans of your existing land, and submit copy (red or, ) to authorities.
Pay him, and collect your real size of land "SURVEY PLAN", chase him away.

2) Get a young trainee graduate Architect to provided ASTHETIC drawings - plan, front view, side, sections etc.
Him and his oga are only trained on how to draw a beautiful tomato, not how to plant or harvest it.
Architects are NOT trained to construct! He cannot construct.
Pay him, collect your beautiful "ARCHITECTURAL drawings", chase him away for now.

3) Get a young trainee graduate Engineer (non-Coren) to assess land, arrange for "basic" soil tests, design, arrange for draftsman, and for a good fee, get a COREN big boy Engineer who only will "glance" drawings and calculations, and "stamp". t.g. Engineer can also sort out the govt building approval-step by step.
Pay him, and collect your safe and economical "STRUCTURAL drawings", chase him away for now.

4) Get a Quantity Surveyor. Give him the SURVEY plan, ARCHITECTURAL drawings and STRUCTURAL drawings.
He will provide you with a Bill of Quantities. Easy to understand document indicating QUANTITY of materials needed
per unit needed STAGE BY STAGE for the whole building. e.g. bathroom tiles needed is EXACTLY 10 sqm. MR A can decide he likes and wants the one sold for 800 per sqm so he budgets EXACTLY 8,000 Naira, Mr B can decide he likes the one of 3500 per sqm, so he budgets EXACTLY 35,000.

Advantage is that from scratch you can tell EXACTLY the quantity you need per job/stage. If the price changes next week from 800 to 850 you just adjust, and (take 10sqm times 850) 8,500 to the market!
Pay him, and collect your list of materials needed "BILL OF QUANTITIES", chase him away.

5) Get a recommended experienced builder of your choice. Confirm and see his previous work and reputation for fraud or mischief. Agree on price per stage.

Negotiate and pay for some sort of retainer ship supervisory role by a young trainee graduate Architect and a young trainee graduate Engineer (non-Coren) i.e. Weekly site visit; and visit before and after major work-slabs/decking, foundation etc
You can use the ones earlier used above or completely new people- drawings are universal do not worry.
They would ascertain that MOST of what is in drawings are replicated, reduce errors, waste and structural safety.

6) Collect mayguard, build a site store, buy all your materials, find father/mother; or "reliable"?? family/friend-I do not know where u one see them for Niga when it comes to construction.

If you get power, you can have an agreement that staged payment only AFTER approval of work by t.g. Architect and Engineer.

Yaba houses would not have fallen even if they had used this crude method above.

MY CONCLUSION AND ADVICE:
Pay all those “pay him” above, you would never regret it. It would save you money at the end.
If big cash dey, use confirmed professionals-COREN etc, and go to sleep.
if medium cash dey, do 1 to 4, at 5, get a confirmed COREN engineers/builders.
if small cash, do 1 to 6, builder fit be experienced bricklayer sef.
if petty cash, I beg rent,

Story long so, excuse me if I left some things out. There are still plenty loop holes.
This na advice o…, , I no be Guru!!!

@easimoni, psytarry and gurus,

How does BASIC FUNDAMENTALS VS TECHNICAL analysis help in a "corrupt" prone environment like ours?

With all I ve read, basic fundamentals are quite tricky, and Technical analysis could be staged rumors.

Using P/E as an exampleP/E=Share value/EPS).
Depending on how earnings are calculated you can get up to 4 different forms of EPS, which can be used to get 4 different P/E 's. for THE SAME company, if they so desire.
A company can legitimately report ANY one it desires to the press, and even manipulate the main "Reported EPS" sent to SEC. .

Also, you could have diluted EPS, whereby the outstanding shares has been stretched to a larger value.

A lot can be legitimately manipulated:
-hiding expenses under non recurring expense so as to exclude it while calc. earnings.
-including one-off profitable event as if it is an ongoing income just to spike up the earnings.
-expenses hiding under "unusual expenses" and excluded in earning calc.
, etc.

And all these are all legitimate!
Basically, the game is to increase/decrease the numerator/denominator.

There are other ratios and ways to check a lot of things, but you had better be a serious "effico", or an accountant/degreed analyst , etc

e no easi o!!

@easimoni and gurus,

How does BASIC FUNDAMENTALS VS TECHNICAL analysis help in a "corrupt" prone environment like ours?

With all I ve read, basic fundamentals are quite tricky, and Technical analysis could be staged rumors.

Using P/E as an exampleP/E=Share value/EPS).
Depending on how earnings are calculated you can get up to 4 different forms of EPS, which can be used to get 4 different P/E 's. for THE SAME company, if they so desire.
A company can legitimately report ANY one it desires to the press, and even manipulate the main "Reported EPS" sent to SEC. .

Also, you could have diluted EPS, whereby the outstanding shares has been stretched to a larger value.

A lot can be legitimately manipulated:
-hiding expenses under non recurring expense so as to exclude it while calc. earnings.
-including one-off profitable event as if it is an ongoing income just to spike up the earnings.
-expenses hiding under "unusual expenses" and excluded in earning calc.
, etc.

And all these are all legitimate!
Basically, the game is to increase/decrease the numerator/denominator.

There are other ratios and ways to check a lot of things, but you had better be a serious "effico", or an accountant/degreed analyst , etc

e no easi o!!

@easimoni and gurus,

You regularly talk of fundamentals-P/E etc,

How can I get more accounting info/financial statements of some listed companies?
I need to see or calculate P/E ratio,Eps etc?

Are they online somewhere?

Gurus and non-Gurus!!

Could you put "FOR" or "AGAINST" any of these guys?
Would not mind if you wish to give additional info.

Adswitch
Afprint

Baico insurance
Continental reinsurance
Royal exchange assurance
Custodian and allied
First aluminium
Great nigerian insurance

Grommac
Ipwa
Johnholt
Longman
NCR

How can I get more accounting info on some listed companies?
I need to see or calculate P/E ratio,Eps etc?

Are they online somewhere?

@windywendy -mega gist!

am catching on pretty first,
please e-mail copy of memo to oxytech_2000@yahoo.com

@enolase

You guys really do not have any idea of the enormity of all your comments and contribution!

I NEVER did forums or chat sites, but you guys have caused me serious pain,
Now I dey sleep for 4am, dey do enolase postulations, easimoni calcutations, frankiriri study, wendy mega gist,egold, UNA GO KILL ME O!!

Thanks guys!!!!!

@aylala2002, and all,

In one of your recent posting, you suggested that taking a 1 yr loan to buy first bank IPO is a good move.

Noting: the interest around 27%(when u add all the extras), the possible delays that are real, delayed return money etc

Do you still think the loan idea for FBN IPO is good?
And why??
Please comment asap, very important,

@easimoni
@Frankiriri

Great guys, !!
I am a newbie, with ZERO trading skills so pls keep commenting, EVERY comment is very much appreciated,

PLEASE COMMENT ON THESE MY OBSERVATIONS BELOW I.E. DO YOU STILL MAINTAIN THE SAME ADVICE.??
BOXING U UP-IF U HAD 5M, WHERE WOULD U PUT IT, OR WHAT WOULD U DO - NO WORRIES I'LL TAKE IT AS A COMMENT.

I checked FBN shares about every 2-3 weeks as from Jan 2007:

FIRST BANK PLC 33.10 32.01 -1.09
FIRST BANK PLC 33.11 32.92 -0.19
FIRST BANK PLC 35.68 37.46 1.78
FIRST BANK PLC 38.20 38.90 0.70
FIRST BANK PLC 39.00 37.05 -1.95
FIRST BANK PLC 35.25 36.89 1.64
FIRST BANK PLC 36.89 36.90 0.01
FIRST BANK PLC 39.01 39.90 0.89
FIRST BANK PLC 39.06 41.01 1.95
FIRST BANK PLC 41.90 39.87 -2.03
FIRST BANK PLC 40.17 38.50 -1.67
FIRST BANK PLC 39.49 38.51 -0.98
FIRST BANK PLC 38.11 37.55 -0.56
FIRST BANK PLC 36.99 37.59 0.60
FIRST BANK PLC 37.00 37.99 0.99
FIRST BANK PLC 36.80 37.01 0.21
FIRST BANK PLC 38.50 40.40 1.90 - 5th April 2007.

They "appeared" to have stopped trading around 5th April 2007.

UBA and UNION too were all fluctuating up and down during that period.
Even ZENITH was crawling.

Everyone has now jumped very high since then, whilst FBN had suspended trading.
They all appear to have benefited seriously after May elections and the seeming stabilty, democracy and
continuity envisaged.

Since 5th Apr. FBN has not used up his own democracy goodwill factor, and it was at 40.40.
On a chart most Banks that did IPO had very sharp price rise close to their last tradings, they looked manupulated,
but FBN own looks real.

The "old skool" confidence factor is also a VERY big deal.

PLEASE COMMENT ON THESE MY OBSERVATIONS. DO YOU STILL MAINTAIN THE SAME ADVICE.??
BOXING U UP-IF U HAD 5M, WHERE WOULD U PUT IT, OR WHAT WOULD U DO - NO WORRIES I'LL TAKE IT AS A COMMENT.
CHEERS!!

Just registered right now, and I have read all the contribution to this thread intensely with pen and paper,
Kudos to every single contributor especially Allcorrect, easimoni and Frankiriri,

Frankiriri appears the most unbaised, unsentimental,does not go beyond his limits trying to proof or challenge,
and not too opinionated, just facts- I dey hail!

My opinion is:
It appears that everyone is wiser and those "REAL/TRUE" good short term deals may no longer be available.
I am suspecting that the few ones around now are "doctoring" things-whatever they are.
If well regulated exchanges could be fooled, you can imagine what is going on in Niga emerging exchange,
with teething regulations,doctored prospectus info, whilst corruption is in all facets of the WHOLE system plus country.

Whether short,medium,long term the aim is usually to make most money.
I think most people would prefer 80% profit in 3 places short term and liquid, than long term 100% in one
place non-liquid and long term.

I am based in Niga and have 5M cash and 5M loan-27% interest, totalling 10M to invest.

My concerns or plans are:
1)Easimoni views are good but the "doctored" short term deals could blow ANYTIME even if u believe u have an ear to d ground.
2)If I put all d 10M in FBN, the 27% on the other 5M, will kill me if firstbank delays.
3)I was thinking of paying the 5M loan in 2 months, and having the 10M in FBN as my retirement plan although poor inflation and exchange rate may cancel the gains.
4)Buy 5M FBN, and share 5M on the floor to buy Wema and cornerstone insurance-sell these 2 in 3-4mths time.
5)Forget about the loan and just put 5M in firstBank.

Which one would you do, and why??
Help needed please ATTACK each of my concerns or plans.
Any comment whatsoever would broaden and help in my final decision.
Cheers!