₦airaland Forum

BlueRayDick:
I disagree with this. Mega shopping mall is actually making the owners big money in recent times.

The rate at which some of these malls spring up sends a signal that they are actually cashing out. You need to take a drive around on a saturday or sunday afternoon and see people coming in and out of those shopping malls with trolleys behind them. Go to their car parks and see their security guys having a tough time directing inflow and outflow of cars. When u get inside the malls, u will see queues at the payment point which may be 6 to 8 payment points.

While major shopping malls like Shoprite may be experiencing low patronage, the new ones like Jendol, Justrite, etc are seeing massive patronage . Even when u go their electronics section, u see people buying TVs, Airconditioners, Freezers, etc ; items which they would've gone to buy in Jossy Electronics store.

I think what matters is for the investor to pick the right location and do enough feasibility studies before investing huge cash in the business.

[color=royalblue]I have started to doubt this.

At best, these businesses are now used to wash money into the system.

I know three malls on Lagos Badagry Expressway. They are not more than 300 naira distance from each other. One has two on it.

After the initial launch where there's crowd,it has become scanty as expected.

Malls and Hotels seems to be the new found love of people who want to wash something into the system.
[/color]

izzou:
[color=royalblue]I have started to doubt this.

At best, these businesses are now used to wash money into the system.

I know three malls on Lagos Badagry Expressway. They are not more than 300 naira distance from each other. One has two on it.

After the initial launch where there's crowd,it has become scanty as expected.

Malls and Hotels seems to be the new found love of people who want to wash something into the system.
[/color]

Well, maybe ur experience is different from mine sha.

I have been noticing some of these malls (at least the ones I patronize) enjoy huge patronage . I started taking notice earlier this year. Maybe because some of these ones I focused on don't have so much competitors close by and because the areas are densely populated.

I came to the conclusion it is a good business when I drove to Lasu-Iba expressway recently. I was going to visit someone so, I had to branch a mall along the way to buy things along. There's this big mall close to LASU with a filling station there. I was wondering why someone would designate a 2 to 3-storey building for a mall in that axis until I spent minutes there and I saw people coming and going doing shopping. Even the number of people employed working within that mall suggests the owner must be really making cool sales because most Nigerian employers would rather employ few staff to do plenty when they are making average sales.

I am not ruling out the money laundering/washing and setting angle, but I feel even if they are using it for washing money it is simply because they are making enough sales ; even better than hotels sef.

nihilistjnr:
he realised that his side hustle wasn't just going to fail to generate the type of revenue he expected, he was going to be disrespected repeatedly during negotiations with the exact type of people he absolutely despises.

.

Omo! Nothing fit pain man pass this one

Insult upon Injury!

BlueRayDick:
Well, maybe ur experience is different from mine sha.

I have been noticing some of these malls (at least the ones I patronize) enjoy huge patronage . I started taking notice earlier this year. Maybe because some of these ones I focused on don't have so much competitors close by and because the areas are densely populated.

I came to the conclusion it is a good business when I drove to Lasu-Iba expressway recently. I was going to visit someone so, I had to branch a mall along the way to buy things along. There's this big mall close to LASU with a filling station there. I was wondering why someone would designate a 2 to 3-storey building for a mall in that axis until I spent minutes there and I saw people coming and going doing shopping. Even the number of people employed working within that mall suggests the owner must be really making cool sales because most Nigerian employers would rather employ few staff to do plenty when they are making average sales.

I am not ruling out the money laundering/washing and setting angle, but I feel even if they are using it for washing money it is simply because they are making enough sales ; even better than hotels sef.

[color=royalblue]I am not saying the business isn't profitable....Naah

I'm saying that while it is, the influx of these malls on every corner might not really be what it is

I don't think ShopRite isn't strategic. All their locations are very strategic. And I know about two malls too that are scanty these days

My point is they way it is rising is not what they paint it to be.

Just the way Petrol stations are now 20 meters from each other. You would think Nigerians are buying full tank every second. But people wey sabi don dey use am wash their money enter the system.[/color]

izzou:
[color=royalblue]I am not saying the business isn't profitable....Naah

I'm saying that while it is, the influx of these malls on every corner might not really be what it is

I don't think ShopRite isn't strategic. All their locations are very strategic. And I know about two malls too that are scanty these days

My point is they way it is rising is not what they paint it to be.

Just the way Petrol stations are now 20 meters from each other. You would think Nigerians are buying full tank every second. But people wey sabi don dey use am wash their money enter the system.[/color]

Okay, I think I get ur point now .

You may be right. In fact , if I want to advise someone who has access to massive yahoo money now ; I would advise he builds a mall instead of buying all those Cyber Truck , Benz and Rolls Royce they are buying up and down .

Those malls and hotels are good for fronting

nihilistjnr:
Omo my dad suffered trying to run piggery and fishery back in the day.

He bought some land around the Sango toll gate area and setup a few ponds and a couple of sheds for some pigs. I used to hate school holidays back then because it meant working long hours on a dirty smelly farm with all kinds of insects biting you from every angle.

Once a week, we would go to Nestle factory in Agbara estate to buy waste product from producing golden morn then bring it back to the farm in huge buckets which was already back breaking work, but then we'd have to break it down into smaller bits to feed the fish which was just mind-numbingly boring.

Then we would have to make our own pellets for feeding the some of the other fish as well, which was even more boring. In addition to this, we have to spread nets over the ponds to protect from the herons that would often swoop in, break them and eat our fish. The problem was that the fvcking fish too were eating each other, so we also had to keep draining the ponds to sort the fish by size and move them to different ponds, because Catfish are joyless cannibals when they see their smaller brethren.
And that's also not accounting for the locals in the area that would hop our fence with net and basket to steal fish as well. We caught one particular guy in broad daylight on Sunday afternoon when my dad decided we must go and farm after church, and my brothers and I used annoyance and frustration to beat the guy to almost an inch of his life.
Then the locals gathered to threaten our whole family, my Dad pulls out a machete from the boot, and it becomes this whole mess that only the local Baale could resolve...which required my dad to to squeeze something to the actual thief, and act that pained him and all of us die

Anyway after draining the ponds you have to clean out all the muck and disgusting sht at the bottom, check the gills of the fish for fungus, and all manner of othet disgusting activities.

The piggery side of things was only slightly less disgusting. Pigs don't have hair so they coat themselves in all kinds of literal shit to protect themselves from flies and insects, and given that the farm was basically by a canal, you can only imagine what the hellscape looked like. The stench was unbearable sometimes. Some pigs are also f<cking aggressive and will happily bite your hand off if they could, so we had to watch out for the odd Napoleon when the sows were in hear. The boars will try to bite you and each other, as well as fvck each other. The sows will try to bite you and each other as well as fvck each other. And they're also cannibals.

I say all of that to say this - after enduring all of that BS, when it came to selling the meat and fish, the market women would price you down to almost a kobo if they could, and I saw my dad close to tears on one occasion when he realised that his side hustle wasn't just going to fail to generate the type of revenue he expected, he was going to be disrespected repeatedly during negotiations with the exact type of people he absolutely despises.

After running at a loss for a few years, the nigga just disbanded the whole thing, did a giveaway sale and shutdown operations, but that wasn't even the end of the L. The area where the farm was located is too marshy to support house building without sinking stupid amounts of money into just the foundations alone, and nobody with the kind of money to do that is going to want to live anywhere close to the area, and so he sold the land for I think close to 50% loss.

Monumental L all around. I pity anyone trying to do that business at a small scale. You're just pissing in the wind.

Lol, bit was pretty gangster...to do business in Nigeria can be quite crazy sha.

Had my own experience raising birds, there was a thriving community for the thing on Nairaland then, was raising 100 chickens for Christmas, and it was going quite well until I made the mistake of buying 50 birds from another farmer (he must have known they were sick) when he offered them to me...those 50 birds infected my original 100 and it became a struggle keeping all 150 alive, lost a few, roughed it and sha managed to get my capital back. Raising animals is a lot of work and you gats dey handson to do it right...at least at the beginning.

BlueRayDick:
Okay, I think I get ur point now .

You may be right. In fact , if I want to advise someone who has access to massive yahoo money now ; I would advise he builds a mall instead of buying all those Cyber Truck , Benz and Rolls Royce they are buying up and down .

Those malls and hotels are good for fronting

[color=royalblue]Na those new pickers dey buy all these ones

Hotel, Real Estate, Petrol Stations, Car dealerships are now fronts for washing and setting.

If I scam 1 million dollars, I go use am buy cars come Nigeria, then open a car dealership and sell it and eat without EFCC pressing my neck.[/color]

As anyone successfully learned the new anthem 😁
Seeing the topic on FP, I just smiled because I am one of them

User09:
Oga Ibime, you don scatter everything.

Today was the question, not future value. Present valuing the 1k per day would be more appropriate

My small finance knowledge tells me the 1k per day for the next 30 years was a simple annuity calculation. Although, using your rates (or average 30 years yield) assumptions will bring it to around $7m, - so same conclusion that the 1k per day is better just like your long AP calc....

PV also follow which Potvalor provided, but the assumption behind my calc is not to touch the money for 30 years, and then you can compare both figures in 30 years to see which one big pass.

iamoyindamola:
As anyone successfully learned the new anthem 😁
Seeing the topic on FP, I just smiled because I am one of them

I actually know the new anthem way back. When I was much younger, I used to 4ck around current affairs, so I was going through one current affairs pamphlet and I saw the "Old Nigerian National Anthem " in it titled " Nigeria We hail Thee".

I engaged my dad on it and he taught me the intonation.

The funny thing is when I became a full grown adult , I literally forgot about it until Tinubu decided to resurrect it.

izzou:
[color=royalblue]Na those new pickers dey buy all these ones

Hotel, Real Estate, Petrol Stations, Car dealerships are now fronts for washing and setting.

If I scam 1 million dollars, I go use am buy cars come Nigeria, then open a car dealership and sell it and eat without EFCC pressing my neck.[/color]

Are u sure all those people smuggling Cotonou cars into the country won't make the car dealership a bad business at the end of the day?

izzou:
[color=royalblue]Na those new pickers dey buy all these ones

Hotel, Real Estate, Petrol Stations, Car dealerships are now fronts for washing and setting.

If I scam 1 million dollars, I go use am buy cars come Nigeria, then open a car dealership and sell it and eat without EFCC pressing my neck.[/color]

There is a boutique in shoprite festac. I have forgotten the name. Even before these days of inflation their prices were way out there. You pass there everyday and it is the exact same stock for sale.

BlueRayDick:
Are u sure all those people smuggling Cotonou cars into the country won't make the car dealership a bad business at the end of the day?

[color=royalblue] Buying cars from Cotonou is no longer as lucrative as before.

That's because there's no custom paper for it. If you buy am, na to dey drive an inside Lagos. The moment you reach Sagamu, you car don go.

Na only Military people dey buy Cotonou cars Put Stickers, place beret and Koboko. Then you're good to go.[/color]

BlueRayDick:
Are u sure all those people smuggling Cotonou cars into the country won't make the car dealership a bad business at the end of the day?

They are running the dealership on stolen money. They are actually messing it up for everyone else.

The late gazzuz had said they were driving up the price of auction cars. Same way people complain of them driving up cost of rent.

If you are running on stolen money and not chasing profit to grow your business, you can afford to undercut the competition. Your goal is to clean dirty money not make clean money.

BlueRayDick:
I actually know the new anthem way back. When I was much younger, I used to 4ck around current affairs, so I was going through one current affairs pamphlet and I saw the "Old Nigerian National Anthem " in it titled " Nigeria We hail Thee".

I engaged my dad on it and he taught me the intonation.

The funny thing is when I became a full grown adult , I literally forgot about it until Tinubu decided to resurrect it.

While growing up it was the former one we sing, yes i use to hear the Nigeria we hail thee sometimes in radio
But i never paid attention to it.
I was just thinking about it that if the NA will be my hope of surviving i am done for

izzou:
[color=royalblue] Buying cars from Cotonou is no longer as lucrative as before.

That's because there's no custom paper for it. If you buy am, na to dey drive an inside Lagos. The moment you reach Sagamu, you car don go.

Na only Military people dey buy Cotonou cars Put Stickers, place beret and Koboko. Then you're good to go.[/color]

Even to drive around Lagos sef, na everyday police go dey use person chop except u be working class wey dey leave home before 6am and return back home late in the night.

GloriousGbola:
They are running the dealership on stolen money. They are actually messing it up for everyone else.

The late gazzuz had said they were driving up the price of auction cars. Same way people complain of them driving up cost of rent.

If you are running on stolen money and not chasing profit to grow your business, you can afford to undercut the competition. Your goal is to clean dirty money not make clean money.

True.

GloriousGbola:
There is a boutique in shoprite festac. I have forgotten the name. Even before these days of inflation their prices were way out there. You pass there everyday and it is the exact same stock for sale.

[color=royalblue]Na normal way nau.

From drugs, to illegal arms, to fraud, people are devising new ways to stay legitimate

Na new pickers dey shout too much[/color]

iamoyindamola:
While growing up it was the former one we sing, yes i use to hear the Nigeria we hail thee sometimes in radio
But i never paid attention to it.
I was just thinking about it that if the NA will be my hope of surviving i am done for

I think only those still in school will care about learning the anthem jare. Most adults don't have reasons to sing it sef

nihilistjnr:
We caught one particular guy in broad daylight on Sunday afternoon when my dad decided we must go and farm after church, and my brothers and I used annoyance and frustration to beat the guy to almost an inch of his life.
Then the locals gathered to threaten our whole family, my Dad pulls out a machete from the boot, and it becomes this whole mess that only the local Baale could resolve...which required my dad to to squeeze something to the actual thief, and act that pained him and all of us die

BlueRayDick:
Even to drive around Lagos sef, na everyday police go dey use person chop except u be working class wey dey leave home before 6am and return back home late in the night.

[color=royalblue]Police dey check Custom papers?

I never knew oh [/color]

izzou:
[color=royalblue]Police dey check Custom papers?

I never knew oh [/color]

Is there anything those werey don't check

izzou:
[color=royalblue]Police dey check Custom papers?

I never knew oh [/color]

Omo, If police wan mess u up dem go mess u up o. Dem fit tell u say na stolen car.

My friend was arrested recently because the engine number on his vehicle license has just one number wrong. They checked the vehicle engine, tried to match the number with what was on the vehicle license and then decide to capitalize on a typographical error. Imagine a figure that is supposed to be 3 being types and 5 on the vehicle license.

They took him to their force headquarters but because he has been engaging them like a gentleman wey no want wahala, they billed him 20k, he paid and they allowed him to go. The lead inspector now advised him to get a police report and do an affidavit to address the issue so that he won't get arrested over and over again by other officers.

BlueRayDick:
Omo, If police wan mess u up dem go mess u up o. Dem fit tell u say na stolen car.

My friend was arrested recently because the engine number on his vehicle license has just one number wrong. They checked the vehicle engine, tried to match the number with what was on the vehicle license and then decide to capitalize on a typographical error. Imagine a figure that is supposed to be 3 being types and 5 on the vehicle license.

They took him to their force headquarters but because he has been engaging them like a gentleman wey no want wahala, they billed him 20k, he paid and they allowed him to go. The lead inspector now advised him to get a police report and do an affidavit to address the issue so that he won't get arrested over and over again by other officers.

[color=royalblue]This one na normal for police.

Make Police no ask me for Custom papers oh. I no go even answer am sef. [/color]

izzou:
[color=royalblue]This one na normal for police.

Make Police no ask me for Custom papers oh. I no go even answer am sef. [/color]

The best thing is to have all ur paper documents in one folder/envelope and dump it on them anytime they stop u to ask for papers.

The next thing that will follow is them begging u for "anything for the boys"

BlueRayDick:
The best thing is to have all ur paper documents in one folder/envelope and dump it on them anytime they stop u to ask for papers.

The next thing that will follow is them begging u for "anything for the boys"

[color=royalblue]So I think, the law says that when a car has been registered for 5 or 7 years (I think), you don't need a Custom papers anymore.

Maybe I am wrong sha. [/color]

izzou:
[color=royalblue]So I think, the law says that when a car has been registered for 5 or 7 years (I think), you don't need a Custom papers anymore.

Maybe I am wrong sha. [/color]

You really think Nigeria police care about what the law says?

Nigeria police wey lockup lawyer wey go secure his client release ?

izzou:
[color=royalblue]So I think, the law says that when a car has been registered for 5 or 7 years (I think), you don't need a Custom papers anymore.

Maybe I am wrong sha. [/color]

You want to play law with naija police abi
I just read on fp that an immigration officer rejected 10m and an iPhone bribe from a wanted billionaire ritualist, if that was naija police they will excort him to safety

Front line clip

Frontline pic.twitter.com/dawKjRJrGF

— Zagazola (@ZagazOlaMakama) May 30, 2025

BlueRayDick:
You really think Nigeria police care about what the law says?

Nigeria police wey lockup lawyer wey go secure his client release ?

E be like say izzou dan japa

iamoyindamola:
You want to play law with naija police abi
I just read on fp that an immigration officer rejected 10m and an iPhone bribe from a wanted billionaire ritualist, if that was naija police they will excort him to safety

[color=royalblue]They probably wanted 100 million naira then.

The billionaire guy is even funny. Your case still dey hot, and you want escape sharp sharp.

Why won't you be caught?[/color]

BlueRayDick:
You really think Nigeria police care about what the law says?

Nigeria police wey lockup lawyer wey go secure his client release ?

[color=royalblue]I no know nau

I just know say Police never ask me for Custom papers.[/color]