₦airaland Forum

FEGEITOK:
1. Initial Engagement & Site Survey (Bill #1) I met the architect while he was supervising a renovation near my former residence. We have no familial relationship. I initially engaged him to survey a site and assist with 3D visualizations. He quoted a consultation fee for the site visit, which I paid immediately.

2. 3D Visualization Negotiation (Bill #2) Following the visit, he submitted a bill for 3D visualizations. I deemed the quote excessive and paused the engagement. He followed up repeatedly, prompting a negotiation on price. I informed him that unless he accepted my counter-offer, I would wait for the contract award or seek alternatives. He eventually agreed to my figure, and I paid him in full for the 3D visualizations.

3. Documentation & Scope Expansion (Bill #3) I questioned whether his output covered all technical requirements. His response was unsatisfactory, so I conducted independent research and identified missing documentation. When I requested these specific documents, he presented a third, substantial bill. I agreed to draft a contract to cover this specific scope—not to offer him a partnership.

4. The MOU & Profit Sharing Dispute He drafted a Memorandum of Understanding (MOU) requesting a percentage of the project contract in addition to his documentation fee. I instructed him to send the draft with the percentage left blank for my review. Upon review, I identified several significant issues. I informed him that I would prioritize finalizing the proposal documentation before addressing the flaws in the MOU.

5. Market Survey (Bill #4) He also conducted a market survey, constituting a fourth distinct billable item. It was after the market survey that this issue of partnership arose.

Summary of Contribution: To date, his contribution is limited to paid services: (1) Site Consultation, (2) 3D Visualizations, (3) As-built designs, and (4) Market Survey.

My Contribution: I retain sole responsibility for the project's success, including business development, stakeholder meetings, proposal defense, and all strategic efforts required to win the contract. And while the duration of his MOU is limited to between now and when the project is paid for and executed, my obligations to the client continue for a minimum of 1 year from the date of project handover; he is not part of that.

He just wants to make a quick buck and be on his way.

You should move, maybe even earlier , once you have collected all you paid him to do , looking like he knows too much already , maybe he feels the contract is too much for you to chop alone , all the best

FEGEITOK:
I have hidden nothing.

His actions and speech give me serious cause for concern.

I am seriously shopping for alternatives but will pay him for all work done to date.

The only thing I haven't done is to share his chats on the issue.

Dint you guys agree on scope of work , payment terms at the beginning , am seriously wondering how things evolved to where he is transitioning to a partner and inserting himself in other things , what nonsense , abi na me no understand, did you lead him on or encourage him in other ways ,is he pulling other strings towards the actualization of the contract outside his initial scope of work , is he related to you ?

nosa2:
You are using govt allocated land (corruption) to give example in comparing investments. Nigeria have truly spoil

You need to relax , everything is not corruption , even if you had bought a year after from original allottees , you are still ahead of devaluation and inflation and some dollar investments

emmanuelewumi:
He was not paying rent, so he might have well saved money on rent.

Although knowing how to allocate capital is very very important


Look for stocks or businesses with earning growth that is higher than inflation, look for highly scalable businesses or invest in stocks or businesses with a Return on Invested Capital of 30% and above.

I learnt this late, probably about 7 years ago.☝️☝️

His N50 million invested in the property would have grown over N1 billion

I have a land , government GRA , bought 15m 2020 , going is 200/210m now , easy sales , not lagos , know people and friends that laid there hands on 3, 5,6 plots then ,allocation , even the resale price a year after was I think 22 to 25m from original allottees , remembered moving aggressively into dollars and ngx shares As shares crashed world wide around March to June 2020 , , I had liquidated most of my FD and fled naira asset as COVID spread , a few regrets I have from that period is not purchasing more lands , and not investing well in us stocks , all assets were on sales worldwide , as much as I gained then , it could have been x 2 , x3 or x4 looking back now ,what a period ! , I think it was once in a century moment , this life you win some , you loose some , only let you wins be more than loses

emmanuelewumi:
He did not lose in dollar term, he broke even.

Naira to dollar in 2015 was average of N200 to $1 from CBN and average of N300 in the black market.


If we used the official rate his N50 million was equivalent to $250,000.

Which is now valued at about N370 million.

He would have done better by investing it Eurobond Fund or equities with a Return on Invested Capital of 30% and above

Not sure Black market got to 300naira in 2015 , bought around 230 August 2015

deathwing:
My apartment in Yaba that was 200k in 2016 is now going for 1m. Not sure which 150k apartment in 2007 would be 1m now.

For me, until this year, all this naira FGN bond thing was worthless.

Dollar rate was N600 in 2021 or so. Its currently 1500, almost 3x. Your bond would have to have given you almost 300% in that short time to even keep pace with inflation on the streets. I have been investing in dollar-denominated assets since 2018 and therefore have been getting returns far above inflation and exchange rate wahala.

I started Eurobonds when dollar was about 360. If I put N3.6m, that’s just $10k.

As at today, just purely based on exchange rate, without even looking at the yield, that 3.6m would be worth N14.4m

At 11% yield per year from 2018 would put me at $23k in total assets today.

In naira, that’s currently 33m. (10x returns just like that) all without doing any complicated math or combining bonds or getting a house for rental income.

I think it’s about being diversified across all assets class , and being able to read the signs of the times , for example we are in window now that I feel naira will be stable maybe for upto 2 years , could be more , all things being equal , don’t think it’s a good time to be aggressive in dollar assets

If you get stocks and real estate right , returns also could be ahead of inflation and devaluation

Having said that I have been in dollar funds since 2013 and we still Dey , peak period of accumulation for me is 2015/16 when buhari came , 2020 Covid , and early last year with some of my gains from ngx . your 11% returns is impressive for a dollar fund, I play it safe with Stanbic , gt , investment one dollar fund , have a friend that lost good money on ghana Eurobond purchased thru a Nigerian bank , so risk is there also

Almost done and dusted , we move

Board installation either gypsum or cement board will always be better than casting abi na molding , does not come close in my view

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You have come again this man ,lThe other time you said it was more flammable

Even surprised you are now recommending it

emmanuelewumi:
Why can't they set up a manufacturing plant and also benefit from the huge profit in the sector .

GDP per capita will continue to go down unless we start producing and exporting

Thank God things are gradually looking up in the last 18 months

Someone mentioned high entry barrier , true , I use to think that was the only issue but there is another major one

the main limitations is most of the major limestone mining licenses are locked up , you will basically have to buy out one of the big players like was done to larfarge to have access to them ,or someone that has that mining lease and has not started production , that is where the game is

Mangal however started production recently also

1500sqm plus of slab coming up

How we roll

DwanAy2021:
Available for your tiling service
Email. ridwaino2015@gmail.com

this floor tiles is just too busy for me , but then one man’s food is another’s poison

emmanuelewumi:
What is the current value of MTN, which had a start up capital of about $300 million?

No idea , maybe 20/30x now

If our investments are not ahead of inflation and devaluation , we are not in a good place , and that applies to all currencies

emmanuelewumi:
MTN bought VGC Telecoms for $70 million in 2006.

Yet VGC Telecoms was not the biggest player in that sector.

Other players were approached but they preferred to hold on to their businesses.


I will rather own 1% of a big and quality company, than owning 100% of a struggling and mediocre company

Na wa , 9.6 billion was 70m $ 19 years ago

It’s now just 6m $ , we move

emmanuelewumi:
Are you trying to say 2 million Nigerians make an annual investment income of $120,000 or N180 million per annum.

I don't think that is possible.

So even more niche , we are indeed a poor country

emmanuelewumi:
Per annum.

The key word is investment income. Eg rent, dividend, royalties, coupon etc and not salary or trading profit.

By the time you add active income like salaries to the investment income, the total income will be far more than average

10k$ a month should put you in the top 1% in Nigeria

GeeKudi:
He said investment income cash flow and not net worth. I think it makes sense.

Understood perfectly what he meant

Just felt it is was very low to be in the top 5 % in Nigeria if Monthly , on second thought with gdp par capital at 2/3k dollars maybe justified

emmanuelewumi:
I prefer using investment income cash flow and not networth.


I think in Nigeria having an investment income cash flow that is higher than the equivalent of $10,000 might put one in the top 5%

For a year ?
That’s just 1.2m a month . Wow

Or its monthly

emmanuelewumi:
I think it is about 5% of the population

Even lower than i thought for usa
Wealth is truly concentrated in very hands . Maybe Having a net worth of just 100k $ might put you in the top 5% in Nigeria , we might be more blessed than we realize

emmanuelewumi:
I am sure you are also a Naira millionaire, hope you didn't make your millions by chance or crook with no fundamentals

Even lower than i thought for usa
Wealth is truly concentrated in very hands . Maybe Having a net worth of just 100k $ might put you in the top 5% in Nigeria , we might be more blessed than we realize

222Martins:
The point is the same. It takes $1million to be a millionaire and $1billion to be a billionaire. Having one billion Naira in asset does not even make you a millionaire, not to talk of a billionaire .

Sad but true being a naira billionaire does not make you a dollar millionaire , don’t think guys at that bracket relocate , worse case relocate family and keep hustling here and shuttling

Net worth of 1m $ should put you in top 10 to 15% in the usa and top 1% in the world

investmentworld:
It's pertinent to know that Saro farms is owned by Olakanmi Rasheed Sarumi and his family who is the Chairman of the Presco. So basically the chairman is selling his farm to his company . Let's be guided

Interesting, so Sarumi bought out the Belgians at presco, was not aware of this

EgunMogaji2:
So this is where our money from Akala Express is funding 🤣

😂😂😂, funding zilch here , that is Samonda

But it is funding Jericho 😁

How body sir , hope much better

Kopell , over 50 people on this site , all Nigerians

50 tonnes of tmt and 1900 bags of cement later , we still dey foundation

brosiye99:
How about from Q3 and Q4 2026 till the Elections in 2027? Do you think the election uncertainty will affect the stock market negatively around that period?

I think if anything is going to happen , will be from late next year, talking on naira stability , stocks dunno , but always better to appraise sociopolitical situations regularly

nosa2:
I opened my brokerage account with N70k in 2003. So nothing is too small. It's developing the habit of saving and investing that matters

Bought a million naira worth of gtb around 2003 , can’t remember if it was ipo , worth 31,960,100 as of now from my Cscs account

chimex38:
$40.15bn
https://x.com/KamorYusuf/status/1954597637388194231?t=vtdX-TfVJcrC4iBAq7pvZA&s=19

I say make I update you.

Great time to be in naira assets , there should be stability into mid / late next year all things being equal

kopell:
Congratulation brother. I see those update on your status welldone, one of my best tiler dey that your area. I beg help me give ham job, no be only Togo people we the patronized. These guys have family to feed to oooo.

, I hear you bro , but consider the many other Nigerians involved already nah , bricklayers , iron benders , carpenters , electricians etc even suppliers of all inputs , how yonder

KingsDecorppro:
Okay sir, but you should have ordered from us. We would have given you an affordable discount

Dint order for the pool deck wpc I was considering before

Something else came up for the exterior , also Not likely your discount would have been enough , actually visited sellers in china in May , there are other things that you sell that might be of interest in future

KingsDecorppro:
Oh, okay. Specialized tiles definitely bring a unique touch, especially for pool decks. Thanks for letting me know. Hope the project turns out amazing.

Eventually ordered some wpc for exterior cladding , waterproof / fireproof

Been a while I posted building projects here , presently on 2 commercial projects , salute to all old timers and everyone on a project , not easy but We keep firing by his mercies

Our Togo brothers doing what they know best , impeccable lines as always from my Jericho project, our boys need to go and learn work well

Allboiz:
This is the best time to convert to naira and enjoy the interest rates on naira investments while it last. When you do a comparison of the investment between the two currencies, you will realise that naira investments give a huge ROI at the end of the day.

I think it’s a good time for naira assets , good time to invest in naira assets , said it before , naira should be stable this year and until maybe next year , if nothing seismic happens , but always better to review things every 6 months in case there is change in the macroeconomical and political landscape

starpower:
You see why many people make terrible investment decisions and allocate capital like they're buying gala at traffic light.
Most folks are numerically blind—they don’t understand margins, returns, inflation, or even basic depreciation. If Excel had a voice, it would scream daily in this country.

Nigerian businesses?
More than half are running on vibes and borrowed time. You’ll see turnover of ₦100M and think, “Ah! Big boy!”
Meanwhile, net profit is ₦3.2M, and that’s before they remember NEPA, diesel, and cousin’s emergency naming ceremony.
Margins are razor-thin, inflation is eating their faces, and yet assets are not being depreciated—because, well, why should a generator that cries every week lose value, abi?

Even professionals with ₦800K salary are living one haircut away from bankruptcy. Let that salary drop by 30–50%, and you’ll hear motivational speakers become real-life comedians.

People are struggling more than the Instagram filter will ever show you. But because everyone’s posting car keys, lunch dates, and Canada visa updates, others think they're falling behind—then rush to allocate capital based on peer pressure, not real data.

Until you learn to read numbers like you read gossip, you'll keep buying liabilities and calling them assets.

Stay grounded. Do the math. And for heaven’s sake, log off once in a while—Instagram is not an accounting standard

Very well said , you dropped a lot of nuggets

Most lack financial literacy and discipline and don’t even know