₦airaland Forum

jedisco:
Again, prefernce and satisfaction... To some, it's also serves as type of investment....

The aim of some parents for their kids is to give them good training, education and perhaps a house in early years to give them that needed headstart in life.

Also, the aspect of building in the village is predominantly done in the South East... One needs to also understand the cultural aspect to this... To put it in perspective, It's like convincing a Muslim from the North not to go for Hajj (if he can afford it) but rather invest the money... It's not an advice he'd take.

First you have to consider the effects of the Civil war, subsequent riots and lessons learned afterwards. Also, you then consider the fact that a good number of those from the SE are far travelled and tend to acquire properties where they reside... If such system was not in place, it'd be more difficult to transfer wealth back to their abode and ultimately prosper their base...

I agree there tends to be some amount of ego involved... But that's just life...

Conversely, there can be an argument made that it may not be wise for a young man/lady to focus on building a big villa house before setting up something reasonable where he/she resides... Moreso something he can sell for profit or rent if financial difficulties arise...But as folks get older and attain middle age, its worth thinking about their base and origin...

From a cultural point of view, it's a policy that should be sustained.... Like they say, it's when money gets home that you know who has it....


P.s... similar sytems were present in most civilizations... When the Brits came to Africa, profits made were sent back to their home and not used to build mansions in Africa...

Exactly choices differ.

My aim is just to have a comfortable life... If I have anything doing in the Village... I know where to stay.

If anyone thinks that a man isn't successful because he hasn't erected a Mansion in the Village... That's the person biz

Nezzjnr:
I won't

I'm not the Traveling type either... I see nothing carrying me to the village though

Zobah:
pikin still dey do you.

No be pikin dey do am, He has said he does not see anything that will carry him to the village. If somebody was born in the city and has never been taken or been to the village, he has no affinity to the village. So what will be the person be going there to do?. It is better for the person to remain in the city. It is like a child born in the US or UK or Canada who has never be brought to Nigeria or visited being told to come and build a house in a city in Nigeria. He will also tell you that it is a waste.

People

when is last year sukuk bond interest due. i guess today?
last interest was December 16, 2020

Zobah:
pikin still dey do you.

Does not matter.

To some people, home is where their loaves of bread are buttered

Nezzjnr:
I won't

I'm not the Traveling type either... I see nothing carrying me to the village though

Good but please respect the other person decision and choice on where to build his home.
you must not understand e very thing other people do

Do you know that the corporate headquarters of Dangote Group is a rented building.


I don't understand the man at all

No matter where you go, remember the road that leads you home

X21:
People

when is last year sukuk bond interest due. i guess today?
last interest was December 16, 2020

Yes, today is the due date. It is every 16 June & 16 December till the maturity. I have been expecting ooo.. Even though I have not seen anyone that has gotten today. Its not Public Holiday...

emmanuelewumi:
Do you know that the corporate headquarters of Dangote Group is a rented building.


I don't understand the man at all

Maybe he wants the biz to fund the building of a corporate headquarters from its proceeds. Also he has other caputal intensive projects that wpuld bring in money in the long term. So it makes sense concentrating on those rather than building a corporate headquaters that would not necessarily contribute to cash flow.

afroxyz:
Maybe he wants the biz to fund the building of a corporate headquarters from its proceeds. Also he has other caputal intensive projects that wpuld bring in money in the long term. So it makes sense concentrating on those rather than building a corporate headquaters that would not necessarily contribute to cash flow.

I read his interview published about 21 years ago, when he spoke about his landlord at Victoria Island in the mid 80s


I think he is weird sha, are you saying having a property for his head office will be more expensive than his private jet or hatch?

emmanuelewumi:
I read his interview published about 21 years ago, when he spoke about his landlord at Victoria Island in the mid 80s


I think he is weird sha, are you saying having a property for his head office will be more expensive than his private jet or hatch?

The private jet would buy him time to conduct deals. Time saved is money saved. The cost of a headoffice can be transferred to renting a property in the short term while he concentrates on projects that can bring him income. Let's assume what it would take for him to build and maintain a corporate headquarters would rent him an office for 10 years. That inflow can build him 2 corporate headquarters in 10 years time

afroxyz:
The private jet would buy him time to conduct deals. Time saved is money saved. The cost of a headoffice can be transferred to renting a property in the short term while he concentrates on projects that can bring him income. Let's assume what it would take for him to build and maintain a corporate headquarters would rent him an office for 10 years. That inflow can build him 2 corporate headquarters in 10 years time

10 years keh. With dividend of over N200 billion from Dangote Cement in May 2021

emmanuelewumi:
Do you know that the corporate headquarters of Dangote Group is a rented building.


I don't understand the man at all

I listened to coscharis CEO interview and One thing I pinpoint there is that, as a business owner, be ready to be misunderstood.

You will be surprised that if you should sit dangote down and ask him of the reason for such action, you won't hesitate to buy his idea of such step.

Mheen! This business things get level and na the business owner really know the reason for such step which is certainly a good step or idea for them if we get to know.

May God bless our endeavors.

emmanuelewumi:
10 years keh. With dividend of over N200 billion from Dangote Cement in May 2021

The man wants to put his money to work. He would get greater returns from his industries than the appreciation of a corporate building. I heard he got portkabins as office for one his bisinesses while operation was going on. Why put operations on hold to build new office complex? I feel he is buying time by focusing on projects with higher returns

The man sabi Nigerian banks and Nigerians wella. See the section in the interview where banks would appropriate your feasibility study and send to someone else. Or a factory manager setting up his own factory while working for you and running your biz down.

X21:
Good but please respect the other person decision and choice on where to build his home.
you must not understand e very thing other people do

Gbam. That is why i do not normally join in discussions of a house being built in the village as waste. People that build a house in the village have their reasons.

emmanuelewumi:
Do you know that the corporate headquarters of Dangote Group is a rented building.


I don't understand the man at all

Don’t be surprised that he (or one of his companies) is the landlord/owner of that building (and other group buildings) and collecting rent from the Dangote Group. Many business men do this.

That's right, most real estate developers in Nigeria live on a rented apartment..that's weird in a layman's views but there's a reason for that.

GIANTPLUSHUB:
I listened to coscharis CEO interview and One thing I pinpoint there is that, as a business owner, be ready to be misunderstood.

You will be surprised that if you should sit dangote down and ask him of the reason for such action, you won't hesitate to buy his idea of such step.

Mheen! This business things get level and na the business owner really know the reason for such step which is certainly a good step or idea for them if we get to know.

May God bless our endeavors.

emmanuelewumi:
I read his interview published about 21 years ago, when he spoke about his landlord at Victoria Island in the mid 80s


I think he is weird sha, are you saying having a property for his head office will be more expensive than his private jet or hatch?

It’s possible he was renting in the early to mid 80s in VI. He wasn’t that wealthy at that time.

Most of these business men use one of their companies to own their assets and then lease them out to their other companies. I’m sure even the PJ won’t be in his name. Probably registered to one of his companies in the Cayman Islands and then leased to the Dangote Group.

stevemims:

1958 was 63 years ago and $30k was a whole lot of money at that time. I bet you that house is now worth several millions of dollars. Plus he has done several renovations and modernizations on that house over the years. That house today is not the same house he bought 63 years ago o.

Lazyyouth4u:
It’s possible he was renting in the early to mid 80s in VI. He wasn’t that wealthy at that time.

Most of these business men use one of their companies to own their assets and then lease them out to their other companies. I’m sure even the PJ won’t be in his name. Probably registered to one of his companies in the Cayman Islands and then leased to the Dangote Group.

He was making 50k per truck which could buy a house

emmanuelewumi:
He was making 50k per truck which could buy a house

That is what an average Nigerian will do

emmanuelewumi:
He was making 50k per truck which could buy a house

Not in VI...

He started out in 1977 with 500k ‘seed money’ from his uncle. I doubt that he could afford to buy a house in VI in 1980. He even try to dey rent house of 75k

Zobah:
Rent it out to corp members.

The east is not like the north whr the nearest town will be far from you.The town is close so the Corp members will always settle for it. When it cost you just 50 naira bike to move to place with better facilities like network,shops and joints.So they look for accommodations around thr.While in the north you may travel for an hour to nearest town with no steady transport.My days of nysc we lived free in a house like that in osun state because the owner lived in ibadan.They just needed people to live in part of the house to keep the compound clean

Absolutely!

Lazyyouth4u:
1958 was 63 years ago and $30k was a whole lot of money at that time. I bet you that house is now worth several millions of dollars. Plus he has done several renovations and modernizations on that house over the years. That house today is not the same house he bought 63 years ago o.

You know the other day, I was just asking myself if I shouldn't start charging myself each time I drive my car out. At least na so baba de charge himself for his private jet. Like private jet like private car.

Imagine charging per house each time the car is used. lol.... I non fit lafff

emmanuelewumi:
I read his interview published about 21 years ago, when he spoke about his landlord at Victoria Island in the mid 80s


I think he is weird sha, are you saying having a property for his head office will be more expensive than his private jet or hatch?

Lazyyouth4u:
Don’t be surprised that he (or one of his companies) is the landlord/owner of that building (and other group buildings) and collecting rent from the Dangote Group. Many business men do this.

This guy eh. This is on point

Lazyyouth4u:
Not in VI...

He started out in 1977 with 500k ‘seed money’ from his uncle. I doubt that he could afford to buy a house in VI in 1980. He even try to dey rent house of 75k

I don't want to believe that was his rent for a year, maybe for 5 years.

75k is equivalent to another $75k in 1980. The money will buy almost 3 duplexes at Gbagada Estate in 1981.

In 1985, it will buy 3 brand new Peugeot 505 evolution saloon cars and you will have a balance of about 10k

XiaoLi:
That's right, most real estate developers in Nigeria live on a rented apartment..that's weird in a layman's views but there's a reason for that.

I haven't heard that before. That's really weird. I really wonder what their reasoning is behind that decision.

Nezzjnr:
Exactly choices differ.

My aim is just to have a comfortable life... If I have anything doing in the Village... I know where to stay.

If anyone thinks that a man isn't successful because he hasn't erected a Mansion in the Village... That's the person biz

I agree...

Same also, those who build in the village are not financially ignorant or unexposed..... It's all about choice, perception and what people consider important

bepositive11:
I haven't heard that before. That's really weird. I really wonder what their reasoning is behind that decision.

I have a friend an Estate surveyor who has a house at Dolphin Estate Ikoyi but he is a tenant at Ikeja. His office is at Ikeja sha

Sukuk alert never enter o
The thing don suppose ring gbagam for account. Make somebori call Buhari ask hwfar. Anyway maybe dem dey wait midnight.

I remember someone said he was double paid here during the last SUKUK coupon payment, can you indicate if you receive double payment again or no payment?