₦airaland Forum

Chekitaut
Hi, pls send a whatsapp Hi - thanks

Good evening House.

I need the services of a Borehole expert. Kindly reach out.

Thank you.

n3xt:
10 years ago, I saw this. They claimed we’re not rich.

Ogun state is just so unlucky though. Shortsighted leaders in government.

You got it right. The government have no foresight in housing at all despite its rapid development. If major roads were constructed, Ogun state should be standing shoulder to shoulder with Lagos in times of population.

qdlvy:
You're correct on this.



Let me first admit I don't know too much about finance and investment but I have been forced to learn by myself on how to manage my own assets and money. With that been said, I will never invest my money in Naija TBills, stock market or real estate for that matter . I'm sorry but the economy practices and instability in the country doesn't fill me with any confidence.

In regards to real estate investments in the country, I'm willing to bet the majority of them lose money when intricate number crunching and adjustments are made. Yes, you're right that domain knowledge might mitigate these risks to turn a profit but only very few shrewd and prudent (or lucky with inheritance or government lobbying) will make money. The lack of verifiable data is also one big problem to making educated investment in the country as opposed to the slew of anecdotes I have seen people making here. Sorry, I can't take all these stories of "my clients, my neighbor or the alhaji down the street" seriously. I need verifiable data and if the shambles that is the naira is anything to go by then I'd rather invest in somewhere else.

Take for example, average exchange rate usd-naira in 2010 was 122 naira to 1 USD (source: https://www.exchangerates.org.uk/USD-NGN-spot-exchange-rates-history-2010.html). Today it's 470 naira to 1 USD. If you had 100k USD in a low cost index fund like the VTSAX or VFIAX from 2010 to 2020, you're looking at 6% annual return (adjusted for inflation) compounding to $179,084.76. (source: https://americanfundsretirement.retire.americanfunds.com/tools/calculators/investing-results.htm https://dqydj.com/sp-500-historical-return-calculator/). Yes, it does comes with its own risk which can be minimized with diversification but the potential return will be lower. The advantage is you don't have to do anything. Just leave the money there, you don't have to worry about tenants, repairs, omo onile etc. And your money will be in a strong stable currency.
Land bought in 2010 for 12.2 million naira (100k USD) can become what in 2020? 45 million or 50 million which is sadly still 100k USD today. Yes, location and domain knowledge matter but I'd rather just take the trusted and easy route.

Sophisticated sence you making here, some even run at lost on the land sell.

Check out valley view/ green leaf estate at ikorodu. You will love it

uote author=Wingnut007 post=96383666]

Was in the area yesterday and I think it's decent and has huge potentials. Just that there are too many dust particles in the air and my wife has allergy.[/quote]

Good evening all. Please, do I need column base baskets for gate installation or just the pillars?

Please do you have an idea of how much this location sells for?

rotecch77:
The dust around the road is due to road construction which connect Ebute to ogolonto to the main expressway to miles 12

qdlvy:
You're correct on this.



Let me first admit I don't know too much about finance and investment but I have been forced to learn by myself on how to manage my own assets and money. With that been said, I will never invest my money in Naija TBills, stock market or real estate for that matter . I'm sorry but the economy practices and instability in the country doesn't fill me with any confidence.

In regards to real estate investments in the country, I'm willing to bet the majority of them lose money when intricate number crunching and adjustments are made. Yes, you're right that domain knowledge might mitigate these risks to turn a profit but only very few shrewd and prudent (or lucky with inheritance or government lobbying) will make money. The lack of verifiable data is also one big problem to making educated investment in the country as opposed to the slew of anecdotes I have seen people making here. Sorry, I can't take all these stories of "my clients, my neighbor or the alhaji down the street" seriously. I need verifiable data and if the shambles that is the naira is anything to go by then I'd rather invest in somewhere else.

Take for example, average exchange rate usd-naira in 2010 was 122 naira to 1 USD (source: https://www.exchangerates.org.uk/USD-NGN-spot-exchange-rates-history-2010.html). Today it's 470 naira to 1 USD. If you had 100k USD in a low cost index fund like the VTSAX or VFIAX from 2010 to 2020, you're looking at 6% annual return (adjusted for inflation) compounding to $179,084.76. (source: https://americanfundsretirement.retire.americanfunds.com/tools/calculators/investing-results.htm https://dqydj.com/sp-500-historical-return-calculator/). Yes, it does comes with its own risk which can be minimized with diversification but the potential return will be lower. The advantage is you don't have to do anything. Just leave the money there, you don't have to worry about tenants, repairs, omo onile etc. And your money will be in a strong stable currency.
Land bought in 2010 for 12.2 million naira (100k USD) can become what in 2020? 45 million or 50 million which is sadly still 100k USD today. Yes, location and domain knowledge matter but I'd rather just take the trusted and easy route.

Succinctly put and spot on

keemzy1:
Please do you have an idea of how much this location sells for?

Most of the estates around igbogbo, ebute & ibeshe .
A plot - 12 - 15m
Half plot - 6 - 7.5.
Dryland.

Swamp sell for less 4.5 - 5.5 for half plot.

Not at all...I was supporting your view bro. There are lots of other locations in Nigeria that you can invest and make crazy money. The one like you showed got me when i saw how much a land in "Ghetto" Ketu sold for. Even in my hometown; anything along Ilisan - Ago Iwoye is pricey as hell. I bought 4plots first quarter of the year, boy, i begged to buy a plot in the Millions ooo. I keep saying its a village but when i did my findings, i was shocked that someone else was ready to drop a million more than my offer. I quickly called my uncle and sealed the deal.

I was thinking of a Mall at the DELABO Hotel site too, but the seller wanted N200M; Na Adron buy am last last. If i was him, i will do a Mall right there. Sagamu to Benin highway traffic is mad and will patronize the place all day long.

EKO is NOT NIGERIA, lagos is just one small part of nigeria; though its significant!!!

n3xt:
E shock you. Don’t let it shock you!

I was asked to provide a space for Massive Shopping Mall (Shoprite) in your axis few years ago but we couldn’t find a good site in Ijebu Ode and Remoland.

Better put your money on the expressway my bro! Na so people dey become billionaire overnight.

It’s a bush today but it’ll become a goldmine tomorrow.

GoodFaith:
You will add the 50k to the quotation ?
I fully understand your goal
But 50k is on the high side for referral
Nobody should make over 100k for a roofing job
if you make 100k you are robbing your clients
The average labor cost aluminium roofing should be about 100k
You will pay people from that 100k
ok, I guess you are going to get the money from increase the measurement of the roof

if someone is referring a client to me,it's your duty to defend the quotation I'm giving and not me,so you are not just collecting the money for free,some people can b funny,I have dealt with someone that refered a client to me on this forum and he's demanding for 200k for a job I my self didn't realise up to half of that money,I have dealt with quite a whole lot,i have my reasons for doing that bro,I myself might not see up to that but most times this people have some job connection which u might not have,even the bible says give unto Caesar whats meant for Caeser.Thats y it's better a client come to me directly. I don't want to break tables my brother,I no wan talk much.

Black Friday is on...

Site seeing is available...

Call 08179949921

Lynn21:
Black Friday is on...

Site seeing is available...

Call 08179949921

Same folk who can get Canadian visa for anyone at a very cheap cost?
Oga i dey envy you.
Weldone. Only judge can God!

valencia2012:
Same folk who can get Canadian visa for anyone at a very cheap cost?
Oga i dey envy you.
Weldone. Only judge can God!

Only gullible people will fall for that trick, they thinks the embassy staff are fools or their fervent prayers will blindfold the visa officer.

The issue with us Nigerian is that we see everything from the view of a Foreigner!!!

Look, i was born abroad and was fortunate to be raised in Nigeria; i thank God for giving my parent that wisdom. Nigeria and the Western countries are two different climate in every ways or deed.

A Nigerian that do not have any business abroad is not affected by your analysis. Dollars has lost value since i returned to the US in 1996 to now. The point i want us to know is that the value of our foreign exchange is affected by our unpatriotic ways of living as a Nigerian. We earn naira and sell it off for dollar and run out the country; never to reinvest that funds we took abroad. How do you develop your FDI( Foreign Direct Investment) if you a born Nigerian is not repatriating the dollars? If you Nigerian is promoting investing abroad, how will Nigeria grow? Its not magic, its simply economic.

My Dad's siblings never left IJEBU. They had everything my father has and many more. My Dad has master in Finance in US in the 70s. What i see is that he was spending exponentially in relation to his sibling. Traveling abroad many times, spending much to live in Lagos among those so called elites. Its " good investment" to build and live in the city. But guess what, its you working twice as hard than needed, its you spending extra to keep up, its your lifestyle that is causing you to work all your life in the western country killing yourself slowly. Your mate will retire back home at 5o years old and you will still be paying mortgage and your kids will be owing school loans.

Please success means different things to different people!!! For me, i want to save up a little pot of cash and relocate back into my village while i trade stock and invest in the western world and in Nigeria simultaneously. Its just that simple in my opinion.

The golden thing that most of us are not seeing is that once you have foreign passport, you don't need to remain abroad. Its easier to return home and invest from there. you will gain access to many other countries of the world and you will have a lot of time to take advantage of the world while chilling with your people and LIVING rather than just working like you do abroad. All the celebrations of life that you missed while paying for it, you disconnect from you siblings, your family, your friends and upon retirement in your 60s, your body will eventually brake down from all the OVERTIME you worked. You will then realized that you have not contributed your youthful days to your country. Lastly, your eyes will finally open and see that you are not any better than those you left behind; their children will be educated, have a career, and they will have enjoyed the company of their kids and grand kids all their life in full

Just my opinion and observations...i am in my early 40s now and most of my friends are old men. ORE AGBA NI MII....A SMART man learns from his mistake, but a WISE man learns from others mistakes!!!!

qdlvy:
You're correct on this.



Let me first admit I don't know too much about finance and investment but I have been forced to learn by myself on how to manage my own assets and money. With that been said, I will never invest my money in Naija TBills, stock market or real estate for that matter . I'm sorry but the economy practices and instability in the country doesn't fill me with any confidence.

In regards to real estate investments in the country, I'm willing to bet the majority of them lose money when intricate number crunching and adjustments are made. Yes, you're right that domain knowledge might mitigate these risks to turn a profit but only very few shrewd and prudent (or lucky with inheritance or government lobbying) will make money. The lack of verifiable data is also one big problem to making educated investment in the country as opposed to the slew of anecdotes I have seen people making here. Sorry, I can't take all these stories of "my clients, my neighbor or the alhaji down the street" seriously. I need verifiable data and if the shambles that is the naira is anything to go by then I'd rather invest in somewhere else.

Take for example, average exchange rate usd-naira in 2010 was 122 naira to 1 USD (source: https://www.exchangerates.org.uk/USD-NGN-spot-exchange-rates-history-2010.html). Today it's 470 naira to 1 USD. If you had 100k USD in a low cost index fund like the VTSAX or VFIAX from 2010 to 2020, you're looking at 6% annual return (adjusted for inflation) compounding to $179,084.76. (source: https://americanfundsretirement.retire.americanfunds.com/tools/calculators/investing-results.htm https://dqydj.com/sp-500-historical-return-calculator/). Yes, it does comes with its own risk which can be minimized with diversification but the potential return will be lower. The advantage is you don't have to do anything. Just leave the money there, you don't have to worry about tenants, repairs, omo onile etc. And your money will be in a strong stable currency.
Land bought in 2010 for 12.2 million naira (100k USD) can become what in 2020? 45 million or 50 million which is sadly still 100k USD today. Yes, location and domain knowledge matter but I'd rather just take the trusted and easy route.

n3xt:
Smiles.

Baba, kindly save your plot and observe the market trend.


______
Comparing an apple with an apple. Iyaganku get levels

The Iyaganku plot no get size. I'm sure it's around 5 hectares.

You can give our tread a look, it's the construction of two attached duplexes.
https://www.nairaland.com/6266944/construction-semi-detached-duplex

Bro, you are in the wrong thread.
All of us regular here just want to help each other to build at the lowest possible cost. We are growing a reliable base of online relationships. We dont like inflated prices.
Your proposal is DEAD ON ARRIVAL on this thread.

timileyinoyela:
if someone is referring a client to me,it's your duty to defend the quotation I'm giving and not me,so you are not just collecting the money for free,some people can b funny,I have dealt with someone that refered a client to me on this forum and he's demanding for 200k for a job I my self didn't realise up to half of that money,I have dealt with quite a whole lot,i have my reasons for doing that bro,I myself might not see up to that but most times this people have some job connection which u might not have,even the bible says give unto Caesar whats meant for Caeser.Thats y it's better a client come to me directly. I don't want to break tables my brother,I no wan talk much.

timileyinoyela:
if someone is referring a client to me,it's your duty to defend the quotation I'm giving and not me,so you are not just collecting the money for free,some people can b funny,I have dealt with someone that refered a client to me on this forum and he's demanding for 200k for a job I my self didn't realise up to half of that money,I have dealt with quite a whole lot,i have my reasons for doing that bro,I myself might not see up to that but most times this people have some job connection which u might not have,even the bible says give unto Caesar whats meant for Caeser.Thats y it's better a client come to me directly. I don't want to break tables my brother,I no wan talk much.

I know Nigerian games
You are increase the cost for your client base on referral fee, You might likely some time loss clients for that
t is sad way to do business",I have dealt with someone that refered a client to me on this forum and he's demanding for 200k"

true2home:
The issue with us Nigerian is that we see everything from the view of a Foreigner!!!

Look, i was born abroad and was fortunate to be raised in Nigeria; i thank God for giving my parent that wisdom. Nigeria and the Western countries are two different climate in every ways or deed.

A Nigerian that do not have any business abroad is not affected by your analysis. Dollars has lost value since i returned to the US in 1996 to now. The point i want us to know is that the value of our foreign exchange is affected by our unpatriotic ways of living as a Nigerian. We earn naira and sell it off for dollar and run out the country; never to reinvest that funds we took abroad. How do you develop your FDI( Foreign Direct Investment) if you a born Nigerian is not repatriating the dollars? If you Nigerian is promoting investing abroad, how will Nigeria grow? Its not magic, its simply economic.

My Dad's siblings never left IJEBU. They had everything my father has and many more. My Dad has master in Finance in US in the 70s. What i see is that he was spending exponentially in relation to his sibling. Traveling abroad many times, spending much to live in Lagos among those so called elites. Its " good investment" to build and live in the city. But guess what, its you working twice as hard than needed, its you spending extra to keep up, its your lifestyle that is causing you to work all your life in the western country killing yourself slowly. Your mate will retire back home at 5o years old and you will still be paying mortgage and your kids will be owing school loans.

Please success means different things to different people!!! For me, i want to save up a little pot of cash and relocate back into my village while i trade stock and invest in the western world and in Nigeria simultaneously. Its just that simple in my opinion.

The golden thing that most of us are not seeing is that once you have foreign passport, you don't need to remain abroad. Its easier to return home and invest from there. you will gain access to many other countries of the world and you will have a lot of time to take advantage of the world while chilling with your people and LIVING rather than just working like you do abroad. All the celebrations of life that you missed while paying for it, you disconnect from you siblings, your family, your friends and upon retirement in your 60s, your body will eventually brake down from all the OVERTIME you worked. You will then realized that you have not contributed your youthful days to your country. Lastly, your eyes will finally open and see that you are not any better than those you left behind; their children will be educated, have a career, and they will have enjoyed the company of their kids and grand kids all their life in full

Just my opinion and observations...i am in my early 40s now and most of my friends are old men. ORE AGBA NI MII....A SMART man learns from his mistake, but a WISE man learns from others mistakes!!!!

I agree with your submission.

I’m sitting contended here in Elebu.

true2home:
The issue with us Nigerian is that we see everything from the view of a Foreigner!!!

Well, I don't know about the view of a foreigner. If an alternative, foreign or local, makes better sense, then no argument. I could care less about its origin. Besides, most European/Asian/American systems have and continue to produce better results than whatever nonsense we have going on in the country. Even all your building practices here on this thread comes from where? From your foundation to roofing materials where did all originate from?

true2home:
Look, i was born abroad and was fortunate to be raised in Nigeria; i thank God for giving my parent that wisdom. Nigeria and the Western countries are two different climate in every ways or deed.

The autobiography is irrelevant and unnecessary.

true2home:
A Nigerian that do not have any business abroad is not affected by your analysis. Dollars has lost value since i returned to the US in 1996 to now. The point i want us to know is that the value of our foreign exchange is affected by our unpatriotic ways of living as a Nigerian. We earn naira and sell it off for dollar and run out the country; never to reinvest that funds we took abroad. How do you develop your FDI( Foreign Direct Investment) if you a born Nigerian is not repatriating the dollars? If you Nigerian is promoting investing abroad, how will Nigeria grow? Its not magic, its simply economic.

You're totally wrong on this. All Nigerian living in Nigeria is very well affected by this. Our economy is heavily reliant on oil which we sell as crude oil and buy back as refined petrol, diesel etc. We import majority of consumer products. We are heavily reliant on foreign exchange. The trickle down effect of naira losing value will affect the price of bread in your street. Macroeconomics here. Ask yourself how much price of everything you bought earlier in the year to what it is now. Baba mi, it's pegged to inflation and foreign exchange.

You mentioned that dollar has lost value too. You conveniently missed my calculation where I mentioned 'adjusted for inflation'. Annual return would have been 8-10%, average annual inflation in the US from 2010 - 2020 hovers around 2%, hence the 6%. So the dollar buying power loss has already been accounted for.

The value of foreign exchange is not determined by patriotism. Major determinants of foreign exchange rates are inflation, interest rates, balance of trade, economic growth, political stability, public debts etc, all of which we are failing at.

"Nigeria received $17.57 billion in direct diaspora remittances between January and November 2019. Data obtained from the Central Bank of Nigeria (CBN) revealed." source; https://nairametrics.com/2020/01/11/nigeria-receives-17-5-billion-diaspora-remittances-in-2019/

So apparently a lot of people are sending money to Nigeria than the other way around.

true2home:
My Dad's siblings never left IJEBU. They had everything my father has and many more. My Dad has master in Finance in US in the 70s. What i see is that he was spending exponentially in relation to his sibling. Traveling abroad many times, spending much to live in Lagos among those so called elites. Its " good investment" to build and live in the city. But guess what, its you working twice as hard than needed, its you spending extra to keep up, its your lifestyle that is causing you to work all your life in the western country killing yourself slowly. Your mate will retire back home at 5o years old and you will still be paying mortgage and your kids will be owing school loans.

I don't know where in my statements I compared people living abroad to Nigeria. Nowhere did I compare the two. I only compared investment returns in Nigeria to the alternative. Two totally different arguments.
You don't have to live abroad to invest in foreign stocks. You can do it from your phone sitting in your balcony in Ekiti.

It's not my job to strengthen the economy especially when I can't do it singlehandedly. It's the job of elected government officials sitting in Abuja and your states government houses. I'm a private citizen, served my country for one year. It's my responsibility to protect my investments and explore all legal ways to maximize my returns and if taking my investments outside of the country is going to ensure that, then you bet that I will.
Why the hell should I emotionally tie my investments to a country where elected government officials are not only trying hard to sabotage the country's economy but also killing its youth like the world witnessed in Lekki.

true2home:
Please success means different things to different people!!! For me, i want to save up a little pot of cash and relocate back into my village while i trade stock and invest in the western world and in Nigeria simultaneously. Its just that simple in my opinion.

Again, I don't see where I was comparing people's successes. I was comparing two portfolios investment returns. And it's either your investment makes money or it doesn't. Unless you want to sit on money which loses value and purchasing power every seconds. Sorry, you can't call that success. It's stupidity.

true2home:
The golden thing that most of us are not seeing is that once you have foreign passport, you don't need to remain abroad. Its easier to return home and invest from there. you will gain access to many other countries of the world and you will have a lot of time to take advantage of the world while chilling with your people and LIVING rather than just working like you do abroad. All the celebrations of life that you missed while paying for it, you disconnect from you siblings, your family, your friends and upon retirement in your 60s, your body will eventually brake down from all the OVERTIME you worked. You will then realized that you have not contributed your youthful days to your country. Lastly, your eyes will finally open and see that you are not any better than those you left behind; their children will be educated, have a career, and they will have enjoyed the company of their kids and grand kids all their life in full

Just my opinion and observations...i am in my early 40s now and most of my friends are old men. ORE AGBA NI MII....A SMART man learns from his mistake, but a WISE man learns from others mistakes!!!!

This whole rant makes little sense and I don't understand the point of it. It doesn't address any of the things I discussed neither does it appeal to any logical reasoning.

I have a land (full plot + quarter) for sale at Ologede Estate, Ebute. You can reach my agent 0909 139 2018 for viewing.

keemzy1:
Please do you have an idea of how much this location sells for?

true2home:
Not at all...I was supporting your view bro. There are lots of other locations in Nigeria that you can invest and make crazy money. The one like you showed got me when i saw how much a land in "Ghetto" Ketu sold for. Even in my hometown; anything along Ilisan - Ago Iwoye is pricey as hell. I bought 4plots first quarter of the year, boy, i begged to buy a plot in the Millions ooo. I keep saying its a village but when i did my findings, i was shocked that someone else was ready to drop a million more than my offer. I quickly called my uncle and sealed the deal.

I was thinking of a Mall at the DELABO Hotel site too, but the seller wanted N200M; Na Adron buy am last last. If i was him, i will do a Mall right there. Sagamu to Benin highway traffic is mad and will patronize the place all day long.

EKO is NOT NIGERIA, lagos is just one small part of nigeria; though its significant!!!

Ordinary DELABO (in the bush and not close to international airport) for N200 million. What’s the attraction?

Maybe it’s on 200 hectares of land

qdlvy:
You're correct on this.



Let me first admit I don't know too much about finance and investment but I have been forced to learn by myself on how to manage my own assets and money. With that been said, I will never invest my money in Naija TBills, stock market or real estate for that matter . I'm sorry but the economy practices and instability in the country doesn't fill me with any confidence.

In regards to real estate investments in the country, I'm willing to bet the majority of them lose money when intricate number crunching and adjustments are made. Yes, you're right that domain knowledge might mitigate these risks to turn a profit but only very few shrewd and prudent (or lucky with inheritance or government lobbying) will make money. The lack of verifiable data is also one big problem to making educated investment in the country as opposed to the slew of anecdotes I have seen people making here. Sorry, I can't take all these stories of "my clients, my neighbor or the alhaji down the street" seriously. I need verifiable data and if the shambles that is the naira is anything to go by then I'd rather invest in somewhere else.

Take for example, average exchange rate usd-naira in 2010 was 122 naira to 1 USD (source: https://www.exchangerates.org.uk/USD-NGN-spot-exchange-rates-history-2010.html). Today it's 470 naira to 1 USD. If you had 100k USD in a low cost index fund like the VTSAX or VFIAX from 2010 to 2020, you're looking at 6% annual return (adjusted for inflation) compounding to $179,084.76. (source: https://americanfundsretirement.retire.americanfunds.com/tools/calculators/investing-results.htm https://dqydj.com/sp-500-historical-return-calculator/). Yes, it does comes with its own risk which can be minimized with diversification but the potential return will be lower. The advantage is you don't have to do anything. Just leave the money there, you don't have to worry about tenants, repairs, omo onile etc. And your money will be in a strong stable currency.
Land bought in 2010 for 12.2 million naira (100k USD) can become what in 2020? 45 million or 50 million which is sadly still 100k USD today. Yes, location and domain knowledge matter but I'd rather just take the trusted and easy route.

Here we go again comparing the west with 9ja.two different world my friend!

erico2k2:
Here we go again comparing the west with 9ja.two different world my friend!

Reading and comprehension are apparently not your strong suit. Where did I compare Nigeria to the West?

qdlvy:
Reading and comprehension are apparently not your strong suit. Where did I compare Nigeria to the West?

when you start using derivatives from the west to adjudicate your response to Investment in Nigeria it amounts to comparison as far as you quantify the buying currency to the $$$$, I can make the same argument with the Pound sterling.I use to think the way you are thinking right now until I began my journey of relocation back to 9ja 12 years ago. I know you won't understand right now but time will tell,I have invested in both world and dare say you are wrong but I respect ur own opinion!

erico2k2:
when you start using derivatives from the west to adjudicate your response to Investment in Nigeria it amounts to comparison as far as you quantify the buying currency to the $$$$, I can make the same argument with the Pound sterling.I use to think the way you are thinking right now until I began my journey of relocation back to 9ja 12 years ago. I know you won't understand right now but time will tell,I have invested in both world and dare say you are wrong but I respect ur own opinion!

I'm comparing investment options, all which can be done while living in Nigeria. You don't have to live abroad to invest in foreign stocks. Both are not mutually exclusive. My comparison is based on returns. I cited sources for data I used and so far nobody has been able to cite any in rebuttal.

Recently, the NBS put out conflicting data about the inflation rate for the month of October 2020 after a certain professor pegged it at 33%. Source: https://nairametrics.com/2020/11/21/nbs-hits-back-at-prof-hanke-says-nigerias-inflation-is-not-33/
If that doesn't scare you I don't know what will. We just recently slid into another recession when we haven't even recovered from one.

We have a right to our opinions but not to facts.

Show me data that prove investment returns in Nigeria is better and I will change my mind.

All these relocation to Naija, living abroad, comparing abroad etc, are irrelevant. You people just go off on tangents that are not central to the argument one is making. It screams insecurity to me.
I love Naija but I'm not stupid to passively invest in Naija.

Available now

qdlvy:
You're correct on this.



Let me first admit I don't know too much about finance and investment but I have been forced to learn by myself on how to manage my own assets and money. With that been said, I will never invest my money in Naija TBills, stock market or real estate for that matter . I'm sorry but the economy practices and instability in the country doesn't fill me with any confidence.

In regards to real estate investments in the country, I'm willing to bet the majority of them lose money when intricate number crunching and adjustments are made. Yes, you're right that domain knowledge might mitigate these risks to turn a profit but only very few shrewd and prudent (or lucky with inheritance or government lobbying) will make money. The lack of verifiable data is also one big problem to making educated investment in the country as opposed to the slew of anecdotes I have seen people making here. Sorry, I can't take all these stories of "my clients, my neighbor or the alhaji down the street" seriously. I need verifiable data and if the shambles that is the naira is anything to go by then I'd rather invest in somewhere else.

[b]Take for example, average exchange rate usd-naira in 2010 was 122 naira to 1 USD (source: https://www.exchangerates.org.uk/USD-NGN-spot-exchange-rates-history-2010.html). Today it's 470 naira to 1 USD. If you had 100k USD in a low cost index fund like the VTSAX or VFIAX from 2010 to 2020, you're looking at 6% annual return (adjusted for inflation) compounding to $179,084.76. (source: [/b]https://americanfundsretirement.retire.americanfunds.com/tools/calculators/investing-results.htm https://dqydj.com/sp-500-historical-return-calculator/). Yes, it does comes with its own risk which can be minimized with diversification but the potential return will be lower. The advantage is you don't have to do anything. Just leave the money there, you don't have to worry about tenants, repairs, omo onile etc. And your money will be in a strong stable currency.
Land bought in 2010 for 12.2 million naira (100k USD) can become what in 2020? 45 million or 50 million which is sadly still 100k USD today. Yes, location and domain knowledge matter but I'd rather just take the trusted and easy route.

I mostly agree with your assessment. However your exchange rate in 2010 did not reflect the true state of the market. You use #122 for the 2010 which is the official rate and #470 in 2020 which is the parallel(black) market rate. In 2010 you can transfer dollar to Nigeria and get dollar which you can sell in the black market for around #240 or there about. I know this because in October 2010 I bought 2 plots of land for #2million. I transferred $8000 for the transaction. I later paid #120,000 for survey and deeds. This year I was offered #6million per plot around March. At the time the #12million amounted to $34,000 (exchange rate via sent wave was #353 in March 2020). that is far more than 6% rate of return

Perhaps you are new in this thread, we have seen a lot so everybody here try to be their brothers keeper to avoid story that touch the heart. He is just trying to tell you that your business strategy is not feasible!

timileyinoyela:
with all due respect,I said after getting the work done. That means I will prepare the quotation for u to give to whosoever u are referring to me,it's a business strategy,it's a compensation,what I realise is from the job is not your business,the basic thing is to deliver my service and my client get satisfied with my job,I can buy something of #10 and decide to sell for #500, it's business. It's a business. Don't come on my page and say people shouldn't do business with me,so far I am not defrauding any people here,I myself might not even see up to #50,000 but the satisfaction with job which will make people to recommend you to other people is the goal

Good morning House, still expecting responses on this...referrals will be appreciated. Thank you and have a good day.

Successbay:
Good evening House.

I need the services of a Borehole expert. Kindly reach out.

Thank you.