₦airaland Forum

As we all know that it’s not possible for any Nigerian to be successful in life And become rich without leaving Nigeria and without relocating to UK, Europe etc. I might be wrong but if you’ve seen anyone successful in naija without moving abroad first, pls quote me on this.

So, this afternoon I passed by a new restaurant and club house recently built by one of our guy who has been in Lagos for years (seems like he’s very well made in Lagos) so he came back and build this, I saw lot of young guys packing their cars and patronizing the club house and music flying around.

What’s painful is that words going around say this guy spent over 100Million naira to invest in this club house. This is well over the amount of money needed to japa to UK with his family. This guy just missed out on what a lot of Nigerians are dying for. Why investing that much when you can use this money to relocate? Is it that some people don’t have anyone advise them? He’s better off selling that place and pack the money and leave for good

What is this one saying??

advanceDNA:
What is this one saying??

I’m saying The guy isn’t smart. He should have used to the money to japa and process student visa

Shueld06:
I’m saying The guy isn’t smart. He should have used to the money to japa and process student visa

Why is that the only option in your head?...u will rather go abroad and become a 4th class citizen competing for stupid jobs rather than be an entrepreneur with 100million.....

Even he's lazy and dont want to do any business...There are banks offer 26 -30% per annum on fixed deposit with interest paid upfront...

Let's even take the lower band of 26%..... fixed deposit of 100million is 23.4 million per year less withholding tax of 2.6M ...
Guy unless u eat like a thief, can u finish 23.4 Million per annum... That's the salary of senior directors living large in Nigeria.


Guy everything is not travelling...

If you are lucky to be successful in Nigeria why should you Japa. Moving abroad is only good if you have the skills and education to replicate your current lifestyle in Nigeria which most don't.

It's possible to move abroad and suffer way more than you were suffering in Nigeria

Shueld06:
As we all know that it’s not possible for any Nigerian to be successful in life And become rich without leaving Nigeria and without relocating to UK, Europe etc. I might be wrong but if you’ve seen anyone successful in naija without moving abroad first, pls quote me on this.

So, this afternoon I passed by a new restaurant and club house recently built by one of our guy who has been in Lagos for years (seems like he’s very well made in Lagos) so he came back and build this, I saw lot of young guys packing their cars and patronizing the club house and music flying around.

What’s painful is that words going around say this guy spent over 100Million naira to invest in this club house. This is well over the amount of money needed to japa to UK with his family. This guy just missed out on what a lot of Nigerians are dying for. Why investing that much when you can use this money to relocate? Is it that some people don’t have anyone advise them? He’s better off selling that place and pack the money and leave for good

are you aware that those for many of those who japa to uk on study visa in the last 3 years. their 2 years post graduate visa is about to expire and no hope of getting sponsored job? . The care job they were using to get sponsorship UK has revoked many of the licenses because of wild spread fraud. So that guy should japa with that money and get stranded later? What are you saying .

Those in health care related fields are getting jobs in NHS sha. But the guy in question which skills does he have to secure a work sponsorship 🥴.

I support sensible japa but saying people dont make it in Nigeria is false. Those selling lace/ Ankara in lagos Island made it, those selling plumbing materials/ building materials made it. Wedding planners, make up artists, photographers made it. Abeg rest

Stats don’t lie


https://www.youtube.com/watch?v=BiWFcH1uils?si=h1BEKdOFBv5TJmr6

https://www./solving-challenge-international-students-uk-jobsearch-claire-guy-?utm_source=share&utm_medium=member_ios&utm_campaign=share_via

Different people with different mindsets....

advanceDNA:
Why is that the only option in your head?...u will rather go abroad and become a 4th class citizen competing for stupid jobs rather than be an entrepreneur with 100million.....

Even he's lazy and dont want to do any business...There are banks offer 26 -30% per annum on fixed deposit with interest paid upfront...

Let's even take the lower band of 26%..... fixed deposit of 100million is 23.4 million per year less withholding tax of 2.6M ...
Guy unless u eat like a thief, can u finish 23.4 Million per annum... That's the salary of senior directors living large in Nigeria.


Guy everything is not travelling...

Hmm. You have a point actually. I wasn’t thinking in that direction initially. But reading ednut1 post and yours kinda make me view this with a different mirror.

advanceDNA:
Why is that the only option in your head?...u will rather go abroad and become a 4th class citizen competing for stupid jobs rather than be an entrepreneur with 100million.....

Even he's lazy and dont want to do any business...There are banks offer 26 -30% per annum on fixed deposit with interest paid upfront...

Let's even take the lower band of 26%..... fixed deposit of 100million is 23.4 million per year less withholding tax of 2.6M ...
Guy unless u eat like a thief, can u finish 23.4 Million per annum... That's the salary of senior directors living large in Nigeria.


Guy everything is not travelling...

Abeg senior man @advanceDNA, which banks dey offer this type of fixed deposit.

advanceDNA:
Why is that the only option in your head?...u will rather go abroad and become a 4th class citizen competing for stupid jobs rather than be an entrepreneur with 100million.....

Even he's lazy and dont want to do any business...There are banks offer 26 -30% per annum on fixed deposit with interest paid upfront...

Let's even take the lower band of 26%..... fixed deposit of 100million is 23.4 million per year less withholding tax of 2.6M ...
Guy unless u eat like a thief, can u finish 23.4 Million per annum... That's the salary of senior directors living large in Nigeria.


Guy everything is not travelling...

If I should save 40k pounds for this uk and get d british passport ehn....

I'm coming back home straight up...

I'll put the money in fixed deposit, dey collect the interest.

Ignorance dey part of the op's post....why he go talk say nobody make am for 9ja without relocating abroad first....

We will be fine...

moshuur:
If I should save 40k pounds for this uk and get d british passport ehn....

I'm coming back home straight up...

I'll put the money in fixed deposit, dey collect the interest.

Ignorance dey part of the op's post....why he go talk say nobody make am for 9ja without relocating abroad first....

We will be fine...

You want to pour 40k pounds into a Nigerian bank? I left more than NGN8 million in heritage bank before relocating abroad and now that the bank has collapsed, i doubt if i will ever get that money back. If all you depend on is to save 40k pound abroad and relocate to Nigeria to fix it in a commercial bank , you might regret it.

Such an insightful writeup!!

Can you mention examples of banks offering 26% on fixed deposits??

advanceDNA:
Why is that the only option in your head?...u will rather go abroad and become a 4th class citizen competing for stupid jobs rather than be an entrepreneur with 100million.....

Even he's lazy and dont want to do any business...There are banks offer 26 -30% per annum on fixed deposit with interest paid upfront...

Let's even take the lower band of 26%..... fixed deposit of 100million is 23.4 million per year less withholding tax of 2.6M ...
Guy unless u eat like a thief, can u finish 23.4 Million per annum... That's the salary of senior directors living large in Nigeria.


Guy everything is not travelling...

advanceDNA:
Why is that the only option in your head?...u will rather go abroad and become a 4th class citizen competing for stupid jobs rather than be an entrepreneur with 100million.....

Even he's lazy and dont want to do any business...There are banks offer 26 -30% per annum on fixed deposit with interest paid upfront...

Let's even take the lower band of 26%..... fixed deposit of 100million is 23.4 million per year less withholding tax of 2.6M ...
Guy unless u eat like a thief, can u finish 23.4 Million per annum... That's the salary of senior directors living large in Nigeria.


Guy everything is not travelling...

This will only make sense if the real value of your initial 100M naira deposit will be preserved over the years, which unfortunately is quite doubtful.

commanderquash:
Such an insightful writeup!!

Can you mention examples of banks offering 26% on fixed deposits??

Fairmoney MFB

code : T385C

OkanlawonB:
This will only make sense if the real value of your initial 100M naira deposit will be preserved over the years, which unfortunately is quite doubtful.

Doesn't have to make sense to you sir......It's a hypothetical, worst case scenario of someone that doesn't even know what to do with a 100M...
....besides, there is no where money value remains the same forever, still the money market has always been there to give pple, risk free earnings, especially those who have idle cash........

there are pple who do nothing but feed conveniently for years on the interest on their risk free deposit and their total cash is not even up to 100M......

OkanlawonB:
This will only make sense if the real value of your initial 100M naira deposit will be preserved over the years, which unfortunately is quite doubtful.

Even with hyperinflation, N23m annually is no child's play. You can't make it seem less in any way, if the beneficiary lives sensibly, a large portion of that interest can be reinvested.

ndidibabe:
You want to pour 40k pounds into a Nigerian bank? I left more than NGN8 million in heritage bank before relocating abroad and now that the bank has collapsed, i doubt if i will ever get that money back. If all you depend on is to save 40k pound abroad and relocate to Nigeria to fix it in a commercial bank , you might regret it.

No....not in a Nigerian bank.

I won't convert the saved currency sef...

Although, most likely the mentality of relocating back home after saving that amount will change (due to some factors....I'm 94% certain).

Lordbinsmar:
Abeg senior man @advanceDNA, which banks dey offer this type of fixed deposit.

Fairmoney MFB

code : T385C

ednut1:
are you aware that those for many of those who japa to uk on study visa in the last 3 years. their 2 years post graduate visa is about to expire and no hope of getting sponsored job? . The care job they were using to get sponsorship UK has revoked many of the licenses because of wild spread fraud. So that guy should japa with that money and get stranded later? What are you saying . Those in health care related fields are getting jobs in NHS sha. But the guy in question which skills does he have to secure a work sponsorship 🥴. I support sensible japa but saying people dont make it in Nigeria is false. Those selling lace/ Ankara in lagos Island made it, those selling plumbing materials/ building materials made it. Wedding planners, make up artists, photographers made it. Abeg rest

Even in the corporate world, people still make it. There are many many of such people, and I am sure you know them. I have advised someone here to apply to jobs in Nigeria with his master's from a top Japanese university rather than do English teaching, he no gree say the salary in Nigeria won't be high. I don't know why Nigerians love converting earnings when they don't spend naira in the abroad. The only time I know the exchange rate is when I send money to my sister. Every expense in my head is recorded in Yen.

Gerrard59:
Even in the corporate world, people still make it. There are many many of such people, and I am sure you know them. I have advised someone here to apply to jobs with his master's from a top Japanese university rather than do English teaching, he no gree say the salary in Nigeria won't be high. I don't know why Nigerians love converting earnings when they don't spend naira in the abroad. The only time I know the exchange rate is when I send money to my sister. Every expense in my head is recorded in Yen.

lol true. My friend in an ioc told me he has over 100m Naira bank balance. Some of my ogas in the course of my career have houses in choice areas in Lagos. Even the popular Jarus is making it in real estate. But unfortunately these people are few and many are living below the poverty level in Nigeria.

Shueld06:
As we all know that it’s not possible for any Nigerian to be successful in life And become rich without leaving Nigeria and without relocating to UK, Europe etc. I might be wrong but if you’ve seen anyone successful in naija without moving abroad first, pls quote me on this.

That is entirely wrong. My first case study is my mom who worked in Nigeria and her only sojourn outside Nigeria was being sponsored by her organisation for an external program, and a pilgrimage to Israel (self sponsored). The rest were to Francophone countries (in West Africa o) as she speaks French. I don't know how you define success, but by every material assessment, she is a successful woman.

Two, my first boss who had his academic degrees in Nigeria and only visits abroad for sponsored training and holidays. He too is successful.

Three, I have classmates/friends/acquaintances who work for good companies in Nigeria with just their BSc. One at NNPC, the other at an investment bank and another at a top bank. Another worked at the same top bank and now works in a public regulatory agency. None of them have been to the international wing of any airport in Nigeria. I write this to illustrate how Nigerian-bred they are. These people are successful. I have another classmate who started her baking business from scratch and built it to the point she employs people (permanent and contract-based). She also organises training sponsored by corporate organisations. I doubt she has a passport and I bet nothing concerns her with japa. She probably doesn't even know what the term means. There are others I attended a certification course with who work in top consulting firms in Nigeria. Again, they have never been abroad.

Additionally, I have another who loves her job and even when I mentioned working for multinational organisations (in the same industry) in either Dubai or the UK, she declined saying "G59, I love Nigeria and what I do". She even declined the marriage proposal of a Canadian-based Nigerian. Although, her reason was that he wanted four children, which she disagreed with.

Not everyone is fazed by living abroad. Humans are different and thus, have different aims in life.

So, this afternoon I passed by a new restaurant and club house recently built by one of our guy who has been in Lagos for years (seems like he’s very well made in Lagos) so he came back and build this, I saw lot of young guys packing their cars and patronizing the club house and music flying around.

So, how come you say you haven't met any successful Nigerian who didn't work or study abroad?

What’s painful is that words going around say this guy spent over 100Million naira to invest in this club house. This is well over the amount of money needed to japa to UK with his family. This guy just missed out on what a lot of Nigerians are dying for. Why investing that much when you can use this money to relocate? Is it that some people don’t have anyone advise them? He’s better off selling that place and pack the money and leave for good

In the first place, I don't fancy the UK for any reason. I don't know why. But it is strange to find it odd that someone decided to invest in Nigeria and live where he made his money. Some people are like that. Everyone gets his choice to make. So you want an investor (100 million invested) to leave for the UK? If I may ask, to do what exactly there?

ednut1:
lol true. My friend in shell told me he has over 100m Naira bank balance. Some of my ogas in the course of my career have houses in choice areas in Lagos. Even the popular Jar.us is making it in real estate. But unfortunately these people are few and many are living below the poverty level in Nigeria.

The bold is true, especially outside Lagos, Abuja, Kano and Port-harcourt. Ibadan and Enugu/Anambra might be included. However, we have to define what success is before labelling those outside the afore-mentioned areas as "unsuccessful" or "poor". The presence of dead capital is one major reason most people are termed "unsuccessful", else proper land titles and holdings are enough to rate most Nigerians as successful.

ndidibabe:
You want to pour 40k pounds into a Nigerian bank? I left more than NGN8 million in heritage bank before relocating abroad and now that the bank has collapsed, i doubt if i will ever get that money back. If all you depend on is to save 40k pound abroad and relocate to Nigeria to fix it in a commercial bank , you might regret it.

I can recall when that bank opened. I am curious, what made you open an account with a greenhorn bank to the extent you had 8 million inside?

Gerrard59:
That is entirely wrong. My first case study is my mom who worked in Nigeria and her only sojourn outside Nigeria was being sponsored by her organisation for an external program, and a pilgrimage to Israel (self sponsored). The rest were to Francophone countries (in West Africa o) as she speaks French. I don't know how you define success, but by every material assessment, she is a successful woman.

Two, my first boss who had his academic degrees in Nigeria and only visits abroad for sponsored training and holidays. He too is successful.

Three, I have classmates/friends/acquaintances who work for good companies in Nigeria with just their BSc. One at NNPC, the other at an investment bank and another at a top bank. Another worked at the same top bank and now works in a public regulatory agency. None of them have been to the international wing of any airport in Nigeria. I write this to illustrate how Nigerian-bred they are. These people are successful. I have another classmate who started her baking business from scratch and built it to the point she employs people (permanent and contract-based). She also organises training sponsored by corporate organisations. I doubt she has a passport and I bet nothing concerns her with japa. She probably doesn't even know what the term means. There are others I attended a certification course with who work in top consulting firms in Nigeria. Again, they have never been abroad.

Additionally, I have another who loves her job and even when I mentioned working for multinational organisations (in the same industry) in either Dubai or the UK, she declined saying "G59, I love Nigeria and what I do". She even declined the marriage proposal of a Canadian-based Nigerian. Although, her reason was that he wanted four children, which she disagreed with.

Not everyone is fazed by living abroad. Humans are different and thus, have different aims in life.


So, how come you say you haven't met any successful Nigerian who didn't work or study abroad?


In the first place, I don't fancy the UK for any reason. I don't know why. But it is strange to find it odd that someone decided to invest in Nigeria and live where he made his money. Some people are like that. Everyone gets his choice to make. So you want an investor (100 million invested) to leave for the UK? If I may ask, to do what exactly there?

Yeah, I realized I goofed yesterday with this post and I really didn’t make any sense. I figured there are people who aren’t really keen on making the japa move. I know someone who used to be on this platform, his name is Jarus. He retired early to be an investor in real estate ..man is in his 40s and he’s successful by all standard. He only used to visit UK for vacation. People still win in this country, cuz if not, who are the people building and buying these mighty house (it’s not correct to say all
Of these investments are made by people abroad only).

I realized this. This guy I mentioned in this post has other investments in Nigeria that employ a lot of people and they get their mean of sustenance from him. It’d be selfish of me to enforce my own view of how life work , and then force it on everyone else. I was wrong. Thanks for the observation

Gerrard59:
I can recall when that bank opened. I am curious, what made you open an account with a greenhorn bank to the extent you had 8 million inside?

I didn't see it coming as I used the money to help my friend working there as a RM to build his cabal. I was initially mad with him that he did not tell me that the bank was sinking but he expressed that everything came as a shock. I am told NDIC insures up to NGN5m so I can still get that amount when I visit Nigeria in Jan.

ndidibabe:
I didn't see it coming as I used the money to help my friend working there as a RM to build his cabal. I was initially mad with him that he did not tell me that the bank was sinking but he expressed that everything came as a shock. I am told NDIC insures up to NGN5m so I can still get that amount when I visit Nigeria in Jan.

Good luck in your quest.

Most of the richest people in Nigeria made their money here.

motayoayinde:
Most of the richest people in Nigeria made their money here.

most of the richest had their kids abroad and have dual citizenship. Why is that If they believe in Nigeria so much 🤭