₦airaland Forum

This is a VERY BAD news on the 1st day of the last month of year 2014!!!

stagger:
Mr Man, save your energy for other things. It can take up to 3 months for this to happen. All the monies are released at once so if there are those whose details aren't complete, the money will not be released. You should focus on appealing to your fellow awardees to make sure they tidy up their bank account opening as fast as possible.

If you think tranche 1 is the problem, wait until it is time for tranche 2. That can take up to 7 months.

eazeefix:
I know a YouWin 2 winner she said the release of the tranches isn't to be relied upon if you can borrow pls do . I have zeroed my mind for January if it comes before that Na bonus.

This is a VERY BAD news on the 1st day of the last month of year 2014!!!

sunylee1:
This is a VERY BAD news on the 1st day of the last month of year 2014!!!

It is not bad news. It is reality. I cannot believe someone said she quit her job in expectation of the 1st tranche. Obviously she must be handling a new business. If she had plowed through the business terrain in Nigeria before, she would have known that you cannot put total faith in the words of politicians. Words like "as soon as possible", or "as soon as is practicable" are short forms of saying "we don't know when we will release the money".

Now that light sweet crude is trading at $63 a barrel as at this morning, (a full $10 below the proposed 2015 benchmark), people have to be careful. There is a proviso that the government has the right to suspend the program when and if it deems it fit to do so, without any explanation to anybody.

Which brings me to the point: how many YouWIN awardees actually read the contract papers through and through, or actually sought legal advice to explain the wordings of the document? Or were people just in a hurry to sign and collect "free" government money?

Yes @ stagger, however Nigerian Crude is the Brent crude and it is trading at $69/pb which is well below the 2014 and 2015 budget benchmarks.

The only thing I want to assure Youwin Awardees is that no matter what happens the Government plans to keep the Youwin Program going. NOI spoke explicitly last week at the Capital market summit that the Program will continue despite the difficulties and even said the president launched the 4th edition and the SME growth fund as a demonstration of his Goodwill towards the program. The government plans to introduce austerity measures but the Youwin Program will not be affected as those are the social safety nets the government plans to use to spur the economy.

In the interim, people should not resign their jobs until they actually see the Youwin funds in their accounts! Though I believe a lot of people are passionate about their business and are throwing in all they have which is good.

Finally the Naira is now trading at N182.55 to the dollars at the interbank market today, it means definitely that the CBN will further devalue the currency if the trend continues. My take is that the naira should be out rightly devalued to N200 to avoid all the speculations and save our scarce foreign reserves.

@stagger. I bear with you. But you raised a point, almost all youwin awardess i know go through their legal agreement. But talking about seeking both legal and financial expert. Let me ask do you sought one. ? Couple with economic condition which is different from upon each awardes. but i still believe the first tranch will be released this month, even this week. just ma own opinion.

jeffmyson:
Yes @ stagger, however Nigerian Crude is the Brent crude and it is trading at $69/pb which is well below the 2014 and 2015 budget benchmarks.

The only thing I want to assure Youwin Awardees is that no matter what happens the Government plans to keep the Youwin Program going. NOI spoke explicitly last week at the Capital market summit that the Program will continue despite the difficulties and even said the president launched the 4th edition and the SME growth fund as a demonstration of his Goodwill towards the program. The government plans to introduce austerity measures but the Youwin Program will not be affected as those are the social safety nets the government plans to use to spur the economy.

In the interim, people should not resign their jobs until they actually see the Youwin funds in their accounts! Though I believe a lot of people are passionate about their business and are throwing in all they have which is good.

Finally the Naira is now trading at N182.55 to the dollars at the interbank market today, it means definitely that the CBN will further devalue the currency if the trend continues. My take is that the naira should be out rightly devalued to N200 to avoid all the speculations and save our scarce foreign reserves.

Nigerian crude is of the LIGHT SWEET variety which has a low sulphur content and cheaper to purify and refine, unlike the heavier BRENT crude drilled from the North Sea which as a higher sulphur content and is more expensive to purify and refine. Mr Man, go and get your facts straight and stop spewing your ignorance here.

globaldream:
@stagger. I bear with you. But you raised a point, almost all youwin awardess i know go through their legal agreement. But talking about seeking both legal and financial expert. Let me ask do you sought one. ? Couple with economic condition which is different from upon each awardes. but i still believe the first tranch will be released this month, even this week. just ma own opinion.

Our company has a lawyer on retainership whom we consult on all our legal matters, including studying of agreements. There is a level you will reach in business and it becomes expensive to operate without a lawyer. Trust me.

Hello stagger, your reply was uncalled for. You could have simply corrected him if you are sure of your facts. You always come across as argumentative, abrasive, ill-mannered and angry. You need to calm down before you give yourself a heart attack. GO DO SOME YOGA.

stagger:
Nigerian crude is of the LIGHT SWEET variety which has a low sulphur content and cheaper to purify and refine, unlike the heavier BRENT crude drilled from the North Sea which as a higher sulphur content and is more expensive to purify and refine. Mr Man, go and get your facts straight and stop spewing your ignorance here.

Mr. Stagger! Light sweet crude is BRENT crude (please make google your friend). Nigeria crude is the Bonny Light sweet a version of Brent crude. The Nigerian crude is cheaper to refine and has low sulphur contents compared to other crudes (saudi arabia, qatar, UAE). Bonny Light (Brent) is also more expensive than other crude classifications, however it is mostly western refiners that have there refinery set up to process Bonny Light unlike indian,china and asian refiners that prefer to refine the cheaper crudes and have their machines set up for those.

en.m.wikipedia.org/wiki/Bonny_Light_oil

For latest price on crude futures, please use this site.

Brent currently trading @ $70/P Barrel.

www.bloomberg.com/energy/

@okoji, I am even right and he is wrong! Use google and do the search and confirm.

This is the most authentic site for crude futures!

www.bloomberg.com/energy/

Nigerian crude is the Bonny Light Sweet a version of the Brent crude classification and it is always more expensive that the WTI crude.

Check it out.

jeffmyson:
@okoji, I am even right and he is wrong! Use google and do the search and confirm.

This is the most authentic site for crude futures!

www.bloomberg.com/energy/

Nigerian crude is the Bonny Light Sweet a version of the Brent crude classification and it is always more expensive that the WTI crude.

Check it out.

Clap for yourself. Now can you tell us the origin of the word "Brent"? Google will also be your friend in this regard.

You may also check this link and tell us where Bonny Light Sweet is described as a brand of Brent:

http://abarrelfull.wikidot.com/brent-crude

I am interested in engaging in debates over mundane things. The fact that the Nigerian Economy is still being factored over the price of crude oil is a disgrace.

What is happening now is a lesson for our generation. Saudi Arabia, UAE, Qatar have all steered there economy away from oil and don't even care if oil falls to $20 a barrel. That's what we should have done years ago, rather our leader choose to play to the gallery with our collective resource ( running an expensive government, corruption, nepotism, mediocrity).

We have a duty as young people to do the needful. It start from you and I, let's stop apportioning blames and work hard for ourselves.

stagger:
Clap for yourself. Now can you tell us the origin of the word "Brent"? Google will also be your friend in this regard.

You may also check this link and tell us where Bonny Light Sweet is described as a brand of Brent:

http://abarrelfull.wikidot.com/brent-crude

Mr Stagger, pls learn 2 choose your word in most cases on this thread. Sometimes ur address to fellow awardee is hard. I believe that we will NOT want the "soup ideology" again and we don't want the type of quarrel with "favoryourl" again. Let us continue with our mutual respect.

And do away with any form of distraction as we patiently wait 4 our good news. As for bank account opening, I am sure that there is nobody that is lacking behind. Or fellow millionaires, is thee anyone that has NOT completed his bank account opening process?

bamistol:
Mr Stagger, pls learn 2 choose your word in most cases on this thread. Sometimes ur address to fellow awardee is hard. I believe that we will NOT want the "soup ideology" again and we don't want the type of quarrel with "favoryourl" again. Let us continue with our mutual respect.

Sorry if I come across as a hard man. But what I told you about the release of tranches is the stone cold truth. Awardees should use their first tranche carefully and ensure that their businesses are making money. We do not know what 2015 will bring. The government may stop the program due to dwindling finances. Or they may not (we pray this is the case). Inside information has it that YouWIN has had many enemies especially from the Northern elite. GEJ and NOI had to stand their ground to force the program through. Otherwise which of all our presidents has ever come up with something like this which is evaluated strictly on merit? In Nigeria? Haaaah!

Just use your tranche 1 carefully. Tranche 2 typically takes time because its release depends on satisfactory tranche 1 usage. There will be lots of monitoring visits. Those who are bad in keeping records or accounting should purchase Quickbooks software and learn to use it now, because you MUST send your monthly financial reports for the entire 1 year you will be supervised. Once you navigate tranche 1 and 2, tranche 3 is usually released in the 12th month, and is yours to keep or use as you want.

Tranche 1 and 2 are critical, but the release times are unsteady, unpredictable and can be very long. Dem say advice no be curse.

stagger:
Sorry if I come across as a hard man. But what I told you about the release of tranches is the stone cold truth. Awardees should use their first tranche carefully and ensure that their businesses are making money. We do not know what 2015 will bring. The government may stop the program due to dwindling finances. Or they may not (we pray this is the case). Inside information has it that YouWIN has had many enemies especially from the Northern elite. GEJ and NOI had to stand their ground to force the program through. Otherwise which of all our presidents has ever come up with something like this which is evaluated strictly on merit? In Nigeria? Haaaah!

Just use your tranche 1 carefully. Tranche 2 typically takes time because its release depends on satisfactory tranche 1 usage. There will be lots of monitoring visits. Those who are bad in keeping records or accounting should purchase Quickbooks software and learn to use it now, because you MUST send your monthly financial reports for the entire 1 year you will be supervised. Once you navigate tranche 1 and 2, tranche 3 is usually released in the 12th month, and is yours to keep or use as you want.

Tranche 1 and 2 are critical, but the release times are unsteady, unpredictable and can be very long. Dem say advice no be curse.

Thanks. I like your tone now. This has been the spirit on this thread "mutual respect". Pls let us continue that way. God bless u all as we patiently await our 1st tranche "hopefully this week"

Thank God that MTN reduced their short code alert today to reduce tension. If MTN and other networks can stop their short code alert till we get the expected alert, it will be far better.

Omo mehn, this matter o di n getting critical oh!

Farmhands are dispersing for 'Christmas' like gas in air. Most don't converge until the rains start in March/April. One is not sure how soon (this week) or not so soon the funds will be released so keeping, feeding and paying them is tricky. *sigh*

With FULL appreciation of the generosity of the Youwin project (and hopefully no entitlement mentality), the responsibility of producing good results as soon as we hear GO!/ i.e. ONCE the funds are released is making the matter pinch harder every passing day oh!

:-(

Are there some people here whose accounts are still pending?

Northern elite eh! Stagger i suggest you find another BS of an excuse. Not to try blaming any shortcoming to the north and notherners.

This program is all incoporating. So i can‘t see any reason why it‘s opposition is coming from a particular geography.

This program is runned by humans. However good their intention, they bound to make mistakes. But from the look of it not from some peoples view point. First it was the Youwin staff looking to generate interest then it was the banks not opening account and now the northern elites.

Many administrations have come and gone with both good and bad policies each of which is attributed to them.

As an upcoming generation i see no reason why we should be taking the wrongful path of ignorance, undue apportioning of blames and disunity.

There are a lot of ways we can campaign for Mr president. There are a lot of ways we can paint his good picture. There are many ways he by far supercede his political opponent but amateur segmentation is not part of it.

The Youwin Program is a Non-Partisan program. Every part of Nigeria has always being incorporated into the program. There have Youwin awardees from PDP, APC and Labour Party states.

The program is merit based irrespective of tribe, religion and ethnicity. I am an awardee, originally from the south but I won the award to implement my business in the north and I have seen northerners and westerners who have won to implement their business in parts of country they are not from.

As far as I am concern, Youwin is a government program and it is a continum, irrespective who win the election in february, Youwin is expected to continue.

I remember a saying that the Problem of Africa and Nigeria is that it leaders tend to think in four year cycle! Let's us start planning for the Ten years and 20 years vision.

I repeat Youwin Awardee are the future of Nigeria private sector and we must show the way forward.

Stagger, pls tel me where and how 2 purchase d Quickbooks software u mentioned. Also, pls enlighten me on d monthly financial reports we will be required 2 send. My business is new and it is sales of computers, phones, etc. I was awarded 8m of d 10m I applied for. I intend 2 have a good show room, and high quality branding. I figure my 1st tranche(1.6m) will only be sufficient 2 rent a location, set up my showroom, get my branding done, and probably buy 3-4 laptops. I don't even know yet how I'll accommodate employees salaries, I intend 2 start wit 3 of d 8 I proposed in my biz plan and pay 30k each, remember I too have 2 be on salary. Pls giv me ur thoughts on my situation. Thanks.

I am also interested in getting the quickbook software if it will be beneficial to poultry(egg production) business.

Mohammed83:
Stagger, pls tel me where and how 2 purchase d Quickbooks software u mentioned. Also, pls enlighten me on d monthly financial reports we will be required 2 send. My business is new and it is sales of computers, phones, etc. I was awarded 8m of d 10m I applied for. I intend 2 have a good show room, and high quality branding. I figure my 1st tranche(1.6m) will only be sufficient 2 rent a location, set up my showroom, get my branding done, and probably buy 3-4 laptops. I don't even know yet how I'll accommodate employees salaries, I intend 2 start wit 3 of d 8 I proposed in my biz plan and pay 30k each, remember I too have 2 be on salary. Pls giv me ur thoughts on my situation. Thanks.

When you employ, what will they be doing with 3 to 4 laptops?

When you brand and set up a fashionable store and there are no products, how do you think the walk in customers will react?

How do you intend to generate cashflow to meet your running cost till the next tranche?

You need to start doing a lot of thinking before tranche 1 comes in.

It is better to think now than think with money in your account... Money is a spirit that tends to lead if not led.

In addition to what @ denn has said. You don't need the fashionable store and brands for now. I would suggest you significantly scale down your start up cost and rather use the bulk of the tranche to invest in Products which you can sale and keep generating cashflow.

You can invest in fashionable branded store when the 2nd tranche show up in your account. I will advise you to start thinking hard of what to do before the money come ooh because when the money come and you have no plan on ground, it will vanish like magic!

Scale down significantly! If I were you, invest 1.4m in products and 200k in shop space! Use the revenue (profit) generated from the business to pay yourself and your workers not your capital (Youwin Money).

Thank you.

Mohammed83:
Stagger, pls tel me where and how 2 purchase d Quickbooks software u mentioned. Also, pls enlighten me on d monthly financial reports we will be required 2 send. My business is new and it is sales of computers, phones, etc. I was awarded 8m of d 10m I applied for. I intend 2 have a good show room, and high quality branding. I figure my 1st tranche(1.6m) will only be sufficient 2 rent a location, set up my showroom, get my branding done, and probably buy 3-4 laptops. I don't even know yet how I'll accommodate employees salaries, I intend 2 start wit 3 of d 8 I proposed in my biz plan and pay 30k each, remember I too have 2 be on salary. Pls giv me ur thoughts on my situation. Thanks.

Quickbooks software has an online version which can be purchased from their website with your Nigerian ATM card.

Jefmyson and Denn have hit the nail on the head. The gap between tranche 1 and 2 could be up to 6 to 9 months. If you go ahead with your plan of spending the whole of the 1st tranche on rent, branding and showroom, you will run into huge problems. Don't you think it is better you invest tranche 1 in what will bring in money into your business? Most of it should be invested into products. You do not need a fancy show room. You want to take yoru YouWIN money and make some landlord somewhere a rich man? Haaah!

Buy lots of products with most of the money. When you sell them, use a portion to pay salaries and running costs (which should be kept very low). Branding (if you even need it this 1st year) should be reserved for your 3rd tranche. For our biz, we were lucky it was an existing business; we had to finance a lot of stuff before tranche 2 came, because it took close to 7 months after tranche 1 before it came.

You must spend this time NOW to look for a cheap shop in a good location. Nothing says you cannot sell your products through online stores as well as in your shop. Start thinking of other value added services your business can engage in. Have you thought of learning phone and laptop repairs so you can add this as a second income stream by the side? You can also pass on this knowledge to others and charge a fee. Be creative. Take initiatives to get money outside of the YouWIN grant to put into your business.

Do not forget advertising. In essence, what we are saying here is that you should use your 1st tranche only on things that will directly bring in money, which is your products, advertising and setting up a spin off income earner from your business, NOT ON BRANDING AND A GLAMOROUS SHOWROOM!

I repeat: it can take up to 6 to 9 months to get tranche 2! Do not get caught out.

Also let me add that there is nothing that kills a business as fast as lack of cash flow. If your business is not making money from day one! The business will never survive. That is why it is imperative that Awardees must make sure they use their tranche 1 wisely and make sure the business start making cash flow from thence. Even if the business is not making profits it must atleast make cashflow that covers HOUR and running cost.

Be wise, Tranche 2 will not come easy! You can see how long it is already taking to get tranche 1. Tranche 3 should not even be in your picture as that one is what I call Compensation package. Your business should be able to stand with tranche 1 and 2, tranche 3 if it comes will just be a bonus.

With all due respect... Its easier said Dan done
U are into poultry, u have but a piece.... U are given 2m to start with.... How can u begin to make money with it..
That 2m can be enof set up all needed....
Then u wit 4 d next trench to begin..
I personally tink its your mile stone that will determine your trenches. If u use d 1st well, it won't take time to get d next trench...
That my thinking oh....

@chukwuka12, there are people who start poultry with 2M total Capital.

If someone get 2M as first tranche it is more than enough for him to start a farm that can roll in some cashflow while he waits for second tranche to expand the business.

The person can start for instance with Broilers that have a maturity period of 8 weeks Max and learn some valuable lessons from the experience and when second tranche come he can expand the business and incorporate layers!

The first tranche should be for you to test the waters and improve your business and management skills before the second one comes.

All man to himself anyway! Lack of Money is not the cause of business failures in 70% of the cases but poor management and lack of skills/ experience.

honestly. To be reliastic, it is easier said than done. As much as we must be pudent in spending. Youwin does not expect all business to start with first tranche. First tranche. Is fo office , accrditation,and remaining one for machine u can afford. It all depend on your milestone. Here is the question, your mile is it that one in your plan, or they will send us their own expected mile stone after release of first tranche. It think youwin will send us their expexted milestone to be reached with first tranche. i said this because many of us got slightly higher than the mile stone we projectd in stage two plan. I dont know if i av a witness to this. I mean in our appendix attached to d legal agreement. I even sense their are many apendix that is not ready as at that day of legal signing. Finger cross. Let payment begin as fast as possible

stagger:
Nigerian crude is of the LIGHT SWEET variety which has a low sulphur content and cheaper to purify and refine, unlike the heavier BRENT crude drilled from the North Sea which as a higher sulphur content and is more expensive to purify and refine. Mr Man, go and get your facts straight and stop spewing your ignorance here.

Must you insult to pass your point? You are a grown man for goodness sake, act like it.

Hello all, I am a YouWIN 3 awardee. I've been following this thread for a while now. I want to start by commending your maturity. You guys are great!

my question is directed @jeffmyson, Denn, stagger.
I want to go into plantain flour processing, I applied for 7M and but YouWIN slashed it to 5M. My tranche 1 is now going to be 1M.

Here is what i have in mind, to use the 1M and rent a space, put a few offices together, do all registrations and licensing needed and then wait for tranche 2 which I can now use to purchase the machineries and start production.

But now that I just learnt tranche 2 might take up to 7months, my plan doesn't look wise again.

Plantain flour processing involves machineries. How am I suppose to start a plantain flour plant with 1M and start generating cash flow b4 tranche 2?

Thanks so much.