Japa: People Now Liquidate Investments, Savings To Leave Nigeria — Ali Baba - Travel (11) - Nairaland
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| Re: Japa: People Now Liquidate Investments, Savings To Leave Nigeria — Ali Baba by Love800(m): 11:49am On Jun 12, 2024 |
Okay. That means you are an dependant? osothermal: |
| Re: Japa: People Now Liquidate Investments, Savings To Leave Nigeria — Ali Baba by Follak: 2:57pm On Jun 12, 2024 |
IbeOkehie:Hmmm.... Good luck to us |
| Re: Japa: People Now Liquidate Investments, Savings To Leave Nigeria — Ali Baba by richmanrichard: 3:26pm On Jun 12, 2024 |
Ilekokonit:posterity and nature would favour you and your seeds for speaking the truth 👏 👏 |
| Re: Japa: People Now Liquidate Investments, Savings To Leave Nigeria — Ali Baba by Love800(m): 6:53pm On Jun 12, 2024 |
| Re: Japa: People Now Liquidate Investments, Savings To Leave Nigeria — Ali Baba by IbeOkehie: 5:16pm On Jun 16, 2024 |
NaijaVietnamese: erico2k2:I never tell lies because I don't post anonymously. I only post on what I'm sure about. Salary data for high earning EMPLOYEES, especially those of hospitals and non-profits, are widely available online. Sometimes you can even get the salaries of high level employees at private quoted companies. There are many Nigerian employees I know of who earn over $500K annually. There's this Yoruba guy working for oil company in Houston that I looked up, he was making $400K per year. Then there was my neighbor for a while and another I know of for fact, but I'll just go with a hospital CEO. Many working doctors at these hospitals earn more than the CEO, again I know this for a FACT. https://www.propublica.org/article/methodist-le-bonheur-healthcare-ceo-promises-review-of-policies https://boingboing.net/2019/06/27/1-6-mil-to-ceo-ugwueke.html Memphis's inequality closely tracks with race, with Black people carrying a much higher risk of poverty.In all I write, I'm not overly concerned about HIGH INCOME earners or the top of the pyramid in ANY COUNTRY. My main concern is the PROSPECTS for average people like me who come from the poor to middle classes. This is graduation season in the USA. I have three family friends or acquaintances who just graduated as nurses in Texas, Virginia and Georgia, ALL of them already had Nigerian university degrees before they arrived here 5 to 10 years ago, one of them is a Law graduate from one of the old federal universities. Their average starting pay is $33/hr, and they each got CASH signing bonus of $20K to $30K. I'm sure each of them can now comfortably send ₦500K = $325 per month to Nigeria, but I would advise them to use it as payment on a 5 year new car loan instead ![]() One of them her husband is already a Nurse Practioner and I know their starting salary is $130K per year. So right now that couple is earning over $200K per year, guaranteed. That means they earn more than 90% of all households in the USA according to IRS data. I suppose they should have stayed in Nigeria or maybe return now and aspire to be the next Jim Ovia and Chinyelu Okoli or Dangote and Don Jazzy in Nigeria. LOL, I hope it works out for you all. Good Luck to Nigerians. |
| Re: Japa: People Now Liquidate Investments, Savings To Leave Nigeria — Ali Baba by RodgersAkpafu: 6:38pm On Jun 16, 2024 |
IbeOkehie:This right here is the thing especially in the United States, if you put your head down, you will see the rewards sometime down the road you can't say same for naija Even here in the United Kingdom, although the economy is not as diverse as the USA, but its still a place where dreams can come true IF you put in the work, learn the skills needed and position yourself in the right industry there are folks in the UK making £70k annually in Canary Wharf. But in naija, the avenue for such mobility no dey like that |
| Re: Japa: People Now Liquidate Investments, Savings To Leave Nigeria — Ali Baba by IbeOkehie: 7:13pm On Jun 16, 2024*. Modified: 11:58am On Jul 09, 2024 |
RodgersAkpafu:Even janitors, cooks, retail and hotel clerks, drivers and care workers that stay in such low level jobs for decades generally accumulate much more wealth than higher status, middle class residents of Nigeria. I've seen this with my own eyes in over 30 years observation. Outliers are NOT relevant in making responsible recommendations. You see factual situation like this - https://guardian.ng/property/foreign-real-estate-investors-record-huge-losses-amid-rise-in-exchange-rate/ When you factor in GENERATIONAL class or income upliftment, there's no comparison between the Anglo-West and Nigeria or Black Africa in general. Which is why I keep asking about the mass of Nigerians living abroad that returned in the 1970's. Nobody wants to tackle the subject. Check this out, I brought it to another thread recently: IbeOkehie:When you take time and dig deep you can only conclude that those recommending major investment into Nigeria or returning there to live are deliberately trying to mislead others. Good Luck to Nigerians. |
| Re: Japa: People Now Liquidate Investments, Savings To Leave Nigeria — Ali Baba by IbeOkehie: 12:03pm On Jun 18, 2024*. Modified: 6:33pm On Jun 18, 2024 |
YoshihideSuga:Thank goodness the guy answered your question. THINGS ARE HARD. That you ask is a sign you don't know much about Nigeria. Are things hard outside Lagos PH and Abuja? Dude standard of living is generally lower in smaller cities and rural areas and it's harder to make money! The infrastructure is likely worse. The one majorly good thing in rural areas is plenty of free housing is available. You might even get paid to live in and look after a small mansion. How could you even ask this 🤔 Good Luck to Nigeria. |
| Re: Japa: People Now Liquidate Investments, Savings To Leave Nigeria — Ali Baba by mishooo(m): 6:00pm On Jun 19, 2024 |
IbeOkehie:This man here says a lot of truth. Speculatively, I'll say the ratio of legally migrated educated (BSc/HND) Nigerians doing well abroad (mainly US/CA/UK) is about 8/10 compared to 3/10 in Nigeria according to my limited data as a Statistician |
| Re: Japa: People Now Liquidate Investments, Savings To Leave Nigeria — Ali Baba by IbeOkehie: 3:43pm On Jun 26, 2024 |
RodgersAkpafu:Compare the long term outcomes of their colonies all over the world and you can understand the distinction. French colonies German colonies English colonies Spanish colonies Portuguese colonies Compare their outcomes after independence. Compare the INTEGRATION and socio-economic mobility of immigrants into the culture and economy of each country. Good Luck to Nigerians. |
| Re: Japa: People Now Liquidate Investments, Savings To Leave Nigeria — Ali Baba by Laird(m): 9:07pm On Jun 30, 2024 |
RodgersAkpafu:To add to.this Debt is used by Rich individuals, organisations and companies amd corporations to get money for business projects Real Madrid FootBall club is expanding their stadium with debt at 1.7 % interest rate per year Which Nigerian banks would give You that interest rate and give you long term loan Dangote took loans to build his refinery Many Nigerian banks borrow money from.overseas to.lend out and do business in Nigeria Even access bank got foreign money Any one who.has access to migrate legally and through an indemand skill should do Any one who can open a business in Africa and legally and honestly generate significant revenue and the accruing profits that beat inflation should do so but keep options open |
| Re: Japa: People Now Liquidate Investments, Savings To Leave Nigeria — Ali Baba by RickyJesus: 7:03am On Jul 01, 2024 |
Gerrard59:Can you please elaborate more on this or point to any post where you most have dealt with it, thanks. |
| Re: Japa: People Now Liquidate Investments, Savings To Leave Nigeria — Ali Baba by Usefulsense: 11:07pm On Jul 06, 2024*. Modified: 12:35am On Jul 07, 2024 |
SoNature:What have you put in place to ensure that your great grand children remains in Nigeria after you're gone? Let me paraphrase the question. What have you put in place to ensure your children have the same philosophy as you and they will not send their own children to live permanently abroad? My great grand parents may have refused to move abroad because they do not want to start a generation that will never return. But, here I am now changing all of that and they are no where to stop me or give me reasons why I shouldn't. Do everything to give your children a better life. Where they choose to live when you join your ancestors should be the least of your concerns. |
| Re: Japa: People Now Liquidate Investments, Savings To Leave Nigeria — Ali Baba by Usefulsense: 11:17pm On Jul 06, 2024*. Modified: 12:37am On Jul 07, 2024 |
onadana:You should be happy your son is in a place that guarantees him some level of security of life. Would you rather he stays in Nigeria where there are chances of his being kidnapped or shot by the police or robbed at gun point? The best legacy you can give to your children is take them out of Nigeria. They will forever remain grateful. |
| Re: Japa: People Now Liquidate Investments, Savings To Leave Nigeria — Ali Baba by UnitedKingdom: 10:48pm On Jul 08, 2024 |
helinues:I don't leave you Japa and many more will still leave you Japa. You have more 7yrs to defend the undefendable. 8yrs of Buhari has gone. Tinubu still have 7yrs. That's roughly 16 wasted years for you. |
| Re: Japa: People Now Liquidate Investments, Savings To Leave Nigeria — Ali Baba by UnitedKingdom: 10:50pm On Jul 08, 2024 |
ihavesense:Travel to where? He will remain in Nigeria to continue defending bad government in NL. No travel for him, never. |
| Re: Japa: People Now Liquidate Investments, Savings To Leave Nigeria — Ali Baba by UnitedKingdom: 10:55pm On Jul 08, 2024 |
Mercenary123:Y'all should stop allocating credit to Helinues. Nobody is paying him shishi and he works for no one. He's a nobody hustling to be noticed by APC government. |
| Re: Japa: People Now Liquidate Investments, Savings To Leave Nigeria — Ali Baba by IbeOkehie: 12:22pm On Jul 09, 2024*. Modified: 6:56pm On Jul 09, 2024 |
Laird:It's VERY DIFFICULT to operate a business in Nigeria that generates profits above inflation. I know this from experience and close observation. It's very, very difficult. Inflation is a TAX and the most prominent root cause is government printing money at a rate that exceeds the rise in productivity. Printing money in such conditions is THEFT and that's what government has been doing in Nigeria for DECADES, but APC took it into overdrive. I've published the links here, showing that as far back as 2013, President Tinubu was a firm advocate of money printing as good economic policy, so he only did what he promised. So CBN under APC just printed and printed. The data is now public, I'm not making any claims, anyone can consult reputable economic publications and see it. The government officials just printed worthless naira and shared it among themselves. They then each bought dollars at cheap CBN rates from hard working Nigerians and exported it abroad. This has been going on for a loooong time, that's why our elites never want to float the naira. ALL Nigerian governments have done it but APC just went crazy 🤪 The naira has gone from 200/$ in 2015 to 1500/$ today. If you had accumulated ₦150 million in profits in 2015, it was worth $700K. You could use it to buy substantial inputs to continue producing the goods and services that you sell. Today that same ₦150 million is worth $100K. How does anyone work through that? I've been in that situation and it's like a kind of black magic when that devaluation and inflation hits your business. Fela Kuti called it government magic. That's a major reason for economic stagnation in Nigeria. And people are claiming Nigeria is a good place to earn a living or do business. Good Luck to Nigerians. |
| Re: Japa: People Now Liquidate Investments, Savings To Leave Nigeria — Ali Baba by tvafrique: 10:20pm On Jul 09, 2024 |
Tinapa Resort Calabar, A 400 Million Dollar Luxury Resort May be Coming Back To Life. Watch to learn more. https://www.youtube.com/watch?v=n7x5X_dtcEA |
| Re: Japa: People Now Liquidate Investments, Savings To Leave Nigeria — Ali Baba by TWoods(m): 6:30am On Jul 10, 2024 |
helinues:No one works their ass off better than Nigerians... yet we are still poor. Why not go elsewhere that your labor yields a higher return on investment? |
| Re: Japa: People Now Liquidate Investments, Savings To Leave Nigeria — Ali Baba by Zihno: 7:27pm On Jul 10, 2024 |
5eyesWikipedia:@justwise |
| Re: Japa: People Now Liquidate Investments, Savings To Leave Nigeria — Ali Baba by 79733139(m): 8:19pm On Jul 10, 2024 |
So this thread is still on? It has turned into endless arguments. |
| Re: Japa: People Now Liquidate Investments, Savings To Leave Nigeria — Ali Baba by IbeOkehie: 11:39am On Jul 11, 2024 |
tshtsh:The data is important. It's about probability, chances and such. Hostility to statistics is a Nigerian cultural failing. If you still don't get it, then you're too young to understand. (1) You say you did NYSC in Nigeria in 2019. Are you in touch with your your NYSC mates? Overall how are those of them in Nigeria faring in the current economy? (2) You seem to be very young, so you may not know that a huge number of Nigerians abroad returned permanently to Nigeria in the 1970s. You should ask older Nigerians how those people turned out. And also, it would be useful to compare those returnees to those who remained abroad in the 1970s both legally and illegally. I think your parents must be rich Nigeria based business or government big wigs. Understand that the DATA shows your circumstances are the EXCEPTION and not the rule in Nigeria. Again it's about general outcomes, not you in particular. I don't want to live in a country where people need high social capital to get petrol to put in their car. All the best to you and Good Luck to Nigerians |
| Re: Japa: People Now Liquidate Investments, Savings To Leave Nigeria — Ali Baba by Gerrard59(m): 1:28pm On Jul 11, 2024 |
tshtsh:While the bold is true, the statistics say more people are struggling to get by. While I agree with what works for each individual, we should respect numbers - accurately researched - especially when assessing the whole picture. |
| Re: Japa: People Now Liquidate Investments, Savings To Leave Nigeria — Ali Baba by Gerrard59(m): 1:38pm On Jul 11, 2024 |
IbeOkehie:For me, I will say most are doing fine. What I must state here is that I had more female classmates, so in a society like Nigeria, we know what that means. But most of the males are doing okay. It is that of secondary school that is not favourable. (2) You seem to be very young, so you may not know that a huge number of Nigerians abroad returned permanently to Nigeria in the 1970s. You should ask older Nigerians how those people turned out. And also, it would be useful to compare those returnees to those who remained abroad in the 1970s both legally and illegally.This is a question I hope to answer before this set kpeme finish. It would be good so we compare their trajectories and experiences to recent emigres. We know where we are coming from and where we are going. I think your parents must be rich Nigeria based business or government big wigs. Understand that the DATA shows your circumstances are the EXCEPTION and not the rule in Nigeria. Again it's about general outcomes, not you in particular. [b]It is an issue with most Nigerians online - they debate anecdotally. Just because people see pockets of wealth here and there mostly in Lagos, Abuja and Port-Harcourt does not mean on a whole Nigerians are doing well, at least compared to the early 2000s. Nigeria does not start in Lagos and ends in Abuja. I don't want to live in a country where people need high social capital to get petrol to put in their car.I was shocked to read that there are fuel queues. Sometimes, Nigeria tends to defy rational thinking. |
| Re: Japa: People Now Liquidate Investments, Savings To Leave Nigeria — Ali Baba by IbeOkehie: 4:22pm On Jul 11, 2024*. Modified: 5:14pm On Jul 11, 2024 |
Gerrard59:This article again is worth a good read for everyone - https://businessday.ng/columnist/article/time-to-end-the-nigeria-is-rich-myth/ I'll add that I have extensive experience, reports and observation on the matter of Nigeria vs UK/USA. My conclusion is that in the long term, living in the UK/USA even as an illegal migrant offers a better chance of living a long life AND accumulating wealth above the world 50th percentile and attaining a lifestyle consistent with WORLD middle class standards. I'm pleased you referred to TWO different cohorts of your life, secondary school and university. When I got my bachelor's degree here in the USA, I remember that the percentage of adults with university degrees was 12.5%, whereas in Nigeria it was around 3%. Even at the time of Obasanjo's presidency when private universities were becoming popular, I remember it was around 5%. The point being that University graduates in Nigeria are a very ELITE group, they're a very small and privileged slice and even then, most of them don't live better than a working non-university educated UK/USA resident of Black descent. Nigeria got independence in 1960, the USA Civil Rights Act bestowing full rights to Black Americans was passed in 1965. Here's some statistics that anyone interested in the Nigeria vs USA/UK comparison should find interesting. https://www.google.com/search?q=what+is+the+GDP+of+Black+America+as+a+nation&rlz=1C1NDCM_enUS837US837&oq=what+is+the+GDP+of+Black+America+as+a+nation&gs_lcrp=EgZjaHJvbWUyBggAEEUYOTIHCAEQIRigATIHCAIQIRigATIHCAMQIRigAdIBCTE5MzI1ajBqNKgCALACAA&sourceid=chrome&ie=UTF-8 I could go on and on. I have an 18 year old Black American working beside me today...owns a car and rents an apartment which I'm sure have the usual amenities that are basic to housing here. And doesn't have to queue to buy petrol. How many 40 year olds in Nigeria live better than that? Yet supposedly educated Nigerians when comparing these countries and their prospects for the average person will cite Aliko Dangote and Olugbenga Agboola and Don Jazzy. How stupid is that? There's no wondering why Nigeria is the Poverty Capital of the World when the educated ones can't even think logically. Good Luck to Nigeria. |
| Re: Japa: People Now Liquidate Investments, Savings To Leave Nigeria — Ali Baba by Gerrard59(m): 4:24am On Jul 12, 2024 |
IbeOkehie:I love Remi Adekoya (no homo). His thoughts about the need for a prosperous black Africa align with mine. I intend to buy his book: "It is not about Whiteness, it is about wealth". My thread on the issue: https://www.nairaland.com/5886610/racism-against-blacks-reduce-drastically I created that thread before coming across Mr Remi. I agree with your hypothesis but further and detailed research is required to solidify the notion. Also, I agree with strictly to the US/UK as other developed countries don't provide similar opportunities as their Anglo-American counterparts. When I got my bachelor's degree here in the USA, I remember that the percentage of adults with university degrees was 12.5%, whereas in Nigeria it was around 3%. Even at the time of Obasanjo's presidency when private universities were becoming popular, I remember it was around 5%. The point being that University graduates in Nigeria are a very ELITE group, they're a very small and privileged slice andWell, this is universal, not just a Nigerian thing. University graduates are an elite group everywhere, especially in countries where tertiary education is quite expensive or out-of-reach from most citizens. even then, most of them don't live better than a working non-university educated UK/USA resident of Black descent.Interesting, but this is quite hard to agree with until there are clear numbers to back the notion. For one, the US is an economic giant, so non-university-educated African Americans might out-perform university-educated Nigerians. So, on the basis of differences in GDP, it is an apples-to-orange comparison. Rather than do so, it will be better to compare them (AAs) to, say, black Brits in the same category of non-university educated. I would have suggested we compare that class of Nigerians to black South Africans, but the history of the latter makes it lopsided. Nigeria got independence in 1960, the USA Civil Rights Act bestowing full rights to Black Americans was passed in 1965. Here's some statistics that anyone interested in the Nigeria vs USA/UK comparison should find interesting.The search results, especially the one by McKinsey support your notion. So, yes, you are right, which is factual anyway - African Americans are the richest set of black people in the world. Yet supposedly educated Nigerians when comparing these countries and their prospects for the average person will cite Aliko Dangote and Olugbenga Agboola and Don Jazzy. How stupid is that? There's no wondering why Nigeria is the Poverty Capital of the World when the educated ones can't even think logically.Most times, many university-educated Nigerians, especially those from families already in the upper-middle class, don't consider the bigger picture when analysing issues. I recall my former boss was stunned that federal roads were horrible. Why? He has always been using flights to travel out of Lagos. That was his first time experiencing what MOST Nigerians go through. These people don't travel by road or move out on foot to various parts of their regions. Their adventures begin in Lekki/VI/Ikoyi/Ikeja GRA and end at Maitama/Asokoro/Guzape. Boom! They have seen the beginning and end of Nigeria. |
| Re: Japa: People Now Liquidate Investments, Savings To Leave Nigeria — Ali Baba by IbeOkehie: 4:09pm On Jul 30, 2024 |
Gerrard59:Heard from an old friend this past weekend. Software guy, we were friends 10 to 15 years ago, we lost contact. He lives in Owerri, Imo State now, doing a USA software job from home @ $75K per year salary. He moved back to Nigeria after his marriage broke down, his wife is a medical doctor, they have 3 children. Another old friend is packed and heading to Nigeria to retire and live there. He will live on his retirement paycheck from USA. We had a looong discussion during which I tried AGAIN to dissuade him. I even referred him to our village discussion forum where one rich guy who made that move 10 years ago has posted his regrets and has moved back to Atlanta where he was before. He said he spent $200K building a student hostel in Nigeria than now earns him $120 per month, he posted pictures and everything. Make of it what you will. Good Luck to Nigeria. |
| Re: Japa: People Now Liquidate Investments, Savings To Leave Nigeria — Ali Baba by Gerrard59(m): 9:06pm On Jul 30, 2024 |
IbeOkehie:This makes sense as well as receiving pensions while living in Nigeria. White Americans do it a lot across Central American countries and South East Asia. I am curious, is he married currently? What about the children from the previous marriage? Another old friend is packed and heading to Nigeria to retire and live there. He will live on his retirement paycheck from USA. We had a looong discussion during which I tried AGAIN to dissuade him. I even referred him to our village discussion forum where one rich guy who made that move 10 years ago has posted his regrets and has moved back to Atlanta where he was before. He said he spent $200K building a student hostel in Nigeria than now earns him $120 per month, he posted pictures and everything.Any business a diasporan must invest in Nigeria has to generate dollars as revenue else the person should cut the losses and move on. In my books, the only worthy place to do real estate investment in Nigeria is Lagos. That said, good luck to our people who try such. |
| Re: Japa: People Now Liquidate Investments, Savings To Leave Nigeria — Ali Baba by IbeOkehie: 9:46pm On Jul 30, 2024*. Modified: 7:41am On Jul 31, 2024 |
Gerrard59:He's not married now. He's about 12 years younger than me. The children are still with the ex-wife here in the USA and she has remarried. I had some insight into their marital problems back then and I have to say she was in the right. I agree with you on the need for dollar revenue in Nigeria. It's POSSIBLE to operate a profitable business that beats inflation, it's just rare BECAUSE government control is so heavy and their policy change can destroy that business at any time. That's the POLICY INCONSISTENCIES we read about from analysts. The cuurent laws don't put much constraints on government. That was my experience sha. I actually know the hostel owner very well, he's someone I can call and talk to right now with no problem, though we haven't talked recently He's a wealthy larger than life figure. He moved back to Nigeria many years ago, I want to say 2012 or so. He also narrated some troubles he was having with real estate holdings in Abuja/FCT. He's not hurting for money, he owns a business here in the USA that his son now runs and the other kids are all doctors, lawyers and business owners too. He specifically wrote that he is sorry for having persuaded anyone to move back to Nigeria. For him to make such an admission on an open forum is really telling. Still would be leery of moving to Nigeria for $75K per year. There's other things beside money that make the country inhospitable to me. But one could always take up melon farming or frying chicken thighs to make up for the drawbacks. 🤔 Anyway I thought you'd be interested. Good Luck to Nigeria. |
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There's other things beside money that make the country inhospitable to me. But one could always take up melon farming or frying chicken thighs to make up for the drawbacks. 🤔