₦airaland Forum

EgunMogaji2:
Most certainly me as I came through from New Garage to Elebu this evening. I think mine is the only yellow super bike in Ibadan

Cool . Loving that axis

EgunMogaji2:
It looks very sharp, you guys have upped the ante in Nigeria - very proud of what you're all able to accomplish considering the difficulties we face.

I'll gladly host, name the place and time. Have bike, can travel

Was at akala express this evening , saw a yellow power bike going back and forth , making some very delightful noise , hope it wasn’t you

But that road sweet sha

BrickDevo:
Oga EgunMogaji please do you know the current price of cement?

Bought 3x at 3350 and 3400 , ibadan

n3xt:
He he!!!

The growing rate of imbalance between the wealthy and the rest of us is a reflection of how public policies are formulated to be more responsive to the preferences of the wealthy.

If we keep assuming Nigeria’s economy is something you can read up, you’re missing it completely.

As we are quick to mention the increase in prices of raw materials because of higher demand (higher productivity), inflation, pandemic etc we should not forget that the wages of over 80% of the populace have remain stagnant.

I’ll also not forget to remind us that corporations have become larger, more powerful, and more profitable within their less competitive market sectors, which has led to higher prices and zero innovative businesses, lower wages, and less worker autonomy.

Until we tackle and rebalance the extreme concentration of economic control in the hands of a small number of corporate and financial organizations, this problem will remain with us for much longer.

By the way, who do you think the newly proposed N380/ltr petroleum price will favour most? Nigerians or a Nigerian!


________

Chairman, don’t forget to post your 60 months not 6 months profit like your fellow Nigerians below.

Don’t know why you keep harping on this dangote issue

You have deliberately refused to acknowledge that building materials inputs are more than cement , dangote or other cement players are not responsible for increase in iron rods , aluminium roofing , pop cement , locks, doors, windows, wires , fittings , tiles , sand , granite , and virtually everything used in building

Leave building materials aside , ALL other things u were buying in Nigeria today are more expensive than a year ago , you name it , food - garri ,yam ,maize , clothing , medicines, paper , vehicles etc , all this things are sold or brought in by ordinary people , nobody ganged up to increase prices , current realities made them increase prices

People doing business can increase cost of goods and services to hedge this inflation and devaluation , fixed income earners can’t do this, this is what anybody doing business or the rich are good at doing . That’s why salary Earners are worst hit and not just in Nigeria but everywhere else , this is basic Economics 101 , you yourselves must have increased your charges compared to last year to reflect present realities

Stated some other things causing high prices of commodities world wide , some a fallout of COVID earlier but you keep expounding conspiracy theories of the rich and mighty ,simple economics is responsible for most of the things happening

Cement has 3 major players , Na oligopoly / cartel , outside that leave all this your narrative

nigeria economics is something you can read up and forecast ,the signs are always there , nothing has caught me unawares in the last 15 years , that’s my testimony , u can read up some contributions I gave early last year in the investment thread as COVID was happening

My last take on this

n3xt:
Someone is broke and we (I mean everyone) are paying for it.

Sir, I’m sure you know this.

When prices rise, low and middle-class families pay. Wealthy families profit.
This is currently happening in Nigeria without damning the consequences.

The powerful players are hiking prices of commodities to maximize their profit and as a result household incomes are transferred from the poor and middle class to the wealthy.

If I may ask, what exactly is the reason for the increase in the price of cement in Nigeria?

I live just few minutes away from one of the oldest plants in the country. I can debunk all myths in split second.

It’s pretty easy for the big players in Nigeria to set monopolistic pricing that takes a bite out of every income group’s share of our national income in a bid to survive takeover by AMCON, with the exception of the top 10%, whose incomes rise.

Baba you won’t understand because you fall among the TOP 10% whose income rise or you may understand and just say “What shall we say unto the Lord?” because you did nothing wrong and you’re just lucky like every other top 10% who are a beneficiary of the wealth transfer.

________
Pic - FG protecting the interest of the super-rich at the expense of the masses.

Hmmm I think your analysis is far fetched

And dangote being under pressure/ with problems is also making Lafarge and bua increase there prices ?

All the other inputs of building Materials like tiles , wires , aluminum windows , roofing ,glass , etc is caused by this same dangote problems?

Diesel is almost 300 for god sake , transfer dollar is about 520 now and still not readily available , inflation is running at 17 % , port congestion is there . this are some of the issues confronting manufacturers and importers , Commodity prices are also rising worldwide, copper , steel etc , freight from india , china are at record high . 40 feet from china was about 5k dollars a year ago , it’s about 14k now

I use about 2k liters of diesel daily for my operation and you don’t expect me to increase prices with all I stated above .

Prices are rising simply because of inflation , devaluation and more adverse business conditions . I do agree however that some are taking advantage ,oligopoly in the cement industry has been there for a long time, dint start in the last 5 years

n3xt:
Now, it’s beginning to make sense - the whole building materials price increase thing.

What’s the connection ?

n3xt:


Yep!

This explains the reason I actually missed your call the Saturday you wanted to pop in sir
I was in the heat of the moment.

For me, once we’ve agreed. Kindly allow me to focus on my job!

Learning is what most adults will do for living in the 21st Century.


______

Meanwhile I’m coming to collect owo omo-onile for the installation of that Glass Elevator.

Everything is piecing out nicely. Congrats!

No wahala , told all the contractors at the beginning that the project will bring them quality work considering the location and visibility , that they should focus on executing well , that it will be a land mark . It’s already happening ,the architect , the glass installer etc have gotten jobs because of that project

It will be same for ring road and akala

Meanwhile started dpc at akala

n3xt:
All the commitment I made was done within a week. We are not even talking about weeks, months or years.

[/b]Talking about using money to do projects for client is not the problem, it’s all about finding and working for men of integrity who honours every single gentleman agreement. [b]

_______

DUMBO 4 >>>

Wrote something awhile ago about trust , integrity and capacity of the individual or entity you are dealing with , that’s the summary of the whole matter

We can’t talk enough about Trust / integrity , in the business field I play in , I get about the best prices for inputs , on top of that I get credit while a lot of others don’t get , reason is simple , over decades suppliers have come to realize we don’t default on payment terms , we don’t owe , it’s a reputation thing . Word goes round in that niche market of suppliers . My philosophy is simple ,profit starts from buying right , especially in a competitive industry like manufacturing. A lot of times suppliers beg us to take stocks of Raw materials we don’t even need , they will say something like pay at any convenient time oga .

So confident and sure am I that I say to suppliers/ contractors / anybody that deals with me there is a 99% chance you will default in this our relationship compared to me when it comes to payment or money matters or delivering your own end of the Bargain

Am sure most of the suppliers that Supply us have zero apprehension . My own koko is getting the very best of prices , Part of the kpis of my concerned staffs is that no supplier must call me for money or outstandings. What we can’t afford , we don’t do . I sleep very well at night , I give glory to God alone

n3xt:
Prior to preparing my baba lati bill, I asked for the construction route (owner-managed or contractor managed) so that I can know what I’m covering and preparing bill for.

The client asked for contractor-managed approach and I prepared my bill accordingly putting some unbelievable cost-shaving measures in place.

After my baba lati quote was approved, and notice to proceed (NTP) was issued, I went ahead to prepare the project schedule in accordance with the scope of work and best construction practices.


DUMBO 2

I sent in my final bills and my client said he’s not making any provision for Preliminaries on the project.

I repeat “No Provision for Preliminaries”

So what do Preliminaries really cover in projects? In layman understanding, Preliminaries covers things which includes but not limited to hose, water tank, storage, provision of electricity, site signboard, site security etc.

Why did the client say he’s not taking care of the Preliminaries?
Because of the build approach (I being the General Contractor), the scale of the project and some level of pre-construction activities that has been carried out on the project site.
The client felt if I am truly who I say I am on NL with all the number site support equipment I claim to have and use on my projects, then I should be able to handle this without stress.

He said I was considered for the job because of the way u do my sturvs blah, blah.

I was wowed (yinmu) and told my guys “Leggo do some magic. Move Everrrrrythinnng including staple pins. ”

That was how we walked into a “No Commitment, No Contract” project.

I love doing some things to gather experience to teach younger ones. This was just one of it!

____________

After we moved Olympus to the project site, my chairmo said ”I’ve not seen anything na! Is this all you brag about online?” Until a serious commitment has been made, we won’t start.

I smiled and asked for a contract to be signed officially. My Oga stylishly deflect this with a “Let’s tidy up all the bills and make adjustment to the new reviews made.”

Unfortunately I wasn’t on the project with my laptop to immediately edit the bill and do a review. So I have to wait to settle down and do the review.

During this period, I felt it makes no sense to just sit without doing anything. I decided to commence some skeletal pre-construction activities.

My Oga came again “Can we go ahead with the project while you move your command center to the site because we have no time to waste.”

Remember there was no contract because we are awaiting a review of the final bill and I’m already on the project site with some tools and guys to commence preliminary works based on project schedule.

So I felt, moving ahead with the project as suggested by the client is a good way to prevent waste of precious time

@Egunmogaji2 how much time do a contractor need to draw conclusion a client has some skeleton in his sleeves.

At point of negotiation? At the beginning of the project? The way issues are managed? Or after things has gone south?

I suspected foul-play at the point when mine said he’s not taking care of preliminaries because I’m a BiG contractor who needs to prove to the world I am who I really claimed I am.

______

My client came up with “You can order all you need for the project while you tidy up your preliminaries.”

I mean order materials. With what?

“Do I order several tons of reinforcement without a commitment? Or what exactly does this imply?”

“Ha ha, that’s not it na! I just don’t want us to waste time. So it’s fair to order some materials that’ll be needed ahead of your readiness for the project.” My Oga replied.

He added “You know I don’t know you and you don’t know me either. What if paid you and you chose to run away my money tomorrow morning. Just make your orders, funds will be released to you as “materials are delivered.” This looks like a good help to save time while we await the final review of my bill for the project which is also delaying the official signing of the contract

If you’re reading “See the implication of entering into a “No Commitment” contract. You never know who you’re dealing with.

While my client was asking me to make my orders, he already have one of his men who has been well instructed to understudy me (I pretended I didn’t know) to get all the numbers of my suppliers and key contacts
As a matter of fact, I offered him a bed for some weeks in my family house to allow him see me finish

So I made my orders and delivered without a single commitment to the project. I’m talking about order running into several millions.

First, I moved my command base without a single commitment.

Second, I made order for materials for a project without a contract using my leverage.

This was the reason I was smiling when one of my chairman claimed maybe a client didn’t see value in my proposition. He didn’t see value and he’s going behind my back to collect contact details of my supplier and planting a snitch called project supervisor on me
Leveraging on my goodwill!

A lot do people do approach me for consultation and I’d do that without asking for anything in return. Even major suppliers here do ask me to give them link to my suppliers and I do without any strings attached.


So, fund for the goods ordered was released. Can we shout Halleluyah yet


Next is My DUMBO 3


BRB

I must be that chairman

Now you dint explain all this before . The good thing is you have learnt and moved on

Blessedsunny2:
12,300 per square meters

O serious
Bought 8/8.5k October last year from your brother , bought more 9/9.5k this March or April

n3xt:


Something that we’ve been trying to achieve without result...


Just recently, I did 28 tons of iron rods and truck load of cement in Ibadan without collecting upfront payment.
Guess what, my client went behind back to get the contact details of my source.

What do you make of this sir? It goes both way.

I told my supplier to deliver it though but this action gave me true understanding of how cheap some clients can be.

________

In this same place, I’ve started a project N55m for a client who had only N3.5m in his account. He drives a N23m Benz
I moved in as much materials into the project just to impress him but had to move them back when I realize he’s playing games.

________

Just as Horlardorjah shared, no builder/contractor has the x-ray vision to know a client that’ll default or won’t. It’s a huge risk more especially on the contractor if things go south.

Can only speak for myself . If I see value I will continuously use you , I still benchmark and do price checks regularly to put even old contractors in check . for some people by reason of the scale of operations you can’t be mobilizing contractors daily or even weekly for everything ,it’s Not just possible

Maybe the person didn’t see the value of your taking the effort to organize and supply the items at your own cost or maybe he dint see the value in the price differential if he had sourced it himself

sonnie10:
There are enough clients with their cash in Nigeria looking for reliable and trusted contractors. That is why the reputable contractors are too busy to listen to stories of deferred payment. The only exception is when you have established a good working relationship with a client over time. In fact the way it works is that what you must have gained in the past is bigger that what you are committing. And you have your eyes on future deals.



Nobody puts their money on peoples project. Even banks do not give loans without collateral.

You are on point .

Not paid for the borehole I did 2 or 3 weeks ago at akala up till today , not even been called yet for payment .But then the guy has been doing all my boreholes for the past 15 years , been supplying me cement for another 10 years

Trust / reputation / capacity of person or entity Involved is also key in deciding to commit your own funds on behalf of a customer regardless of the number of years you have been doing business together .

EgunMogaji2:
I’m chilling at Bollards actually

Cool , all my chillings Na ring road /bodija axis whenever am in ib

EgunMogaji2:
I’ll try to coordinate the place tomorrow sef

5 sets of area boys / omo Nile don come . But we move

twinskenny:
good luck on this sir

Thanks Kenny

EgunMogaji2:
I’ll try to coordinate the place tomorrow sef

Easy . Opposite yunsol filling station before bollards events round about

topsy23:
This is a massive projects oga mi

Small o , Na contractors dey enlarge am

We are live at akala express

KolaShangOne:
Bought cement for 3,900 in Abkt.

And 3800 in Ibadan.

I just feel it should be cheaper.

Need about 150bags by next week

Got 900 bags of 3x for 3500 at ib over the weekend

KolaShangOne:
I just knew it was you. i make very very good guesses.

Pls say hello next time

KolaShangOne:
Do you drive an Rx 350?

I do , where did you sight me

n3xt:
Borehole get level though.

I paid 550k in Ibadan around 2018 but the depth get as e be.

Just did one at akala for about 500k

Hatesin:
Well, to me there's no "professional" in building as far as Nigeria is concerned. What the self acclaimed professionals do with people's projects is trial and error and the client ends up being the one teaching them what to do and even how to do it.
I handle my projects myself because I [/b]can't afford to pay a "professional" and end up supervising the professional. [b]

I wish people will learn how to go about their projects, then they would realize that the money they waste on foundation alone in the name of "professional this, professional that" would be enough to get them far into the project.

Above was funny to me , but seriously there are good reasonable professionals out there

emmanuelewumi:
Do you have the figure for their equity fund. I doubt if they will have up to N20 billion in equity

6.29 billion

emmanuelewumi:
For United Capital Asset Management.

The funds under management are invested in the following

Eurobond Fund $71 million

Money Market Fund N11 billion

Fixed Income Fund N150 billion

Balance Fund N900 million

Equity Fund N1.4 billion

For stanbic ibtc asset mgt Ltd

Eurobond $329 million

Money market fund 218 billion

Fixed income fund 3 billion

Shariah fund 10 billion

Bond fund 150 billion

Guaranteed investment fund 36 billion

EgunMogaji2:
Small world.

Absolutely, bought all my Spanish tiles from him

Blessedsunny2:
Yes but is my senior brother show room I have be relocated to my own office at agric market odun-ade bus stop badagry
Expressway coke-lagos

Nice . Say hello to your brother . I know him

Blessedsunny2:
New arrival Spanish tiles
Blessedsunny2 showroom?
WhatsApp:09077504287,07062955047

Is this your show room ?

EgunMogaji2:
Very nice, though I wish it also had a bottom track for more rigidity.

Got you . Funny , all the ones I was going to import from china also had just the upper rail , till I met this guy doing locally

topsy23:
Is it using access control? I saw a cat 6 cable dangling

Nah , maybe cable for Ac

n3xt:
Nice! Kilimanjaro

I’m right in front of the site as I type. I’ll pop in when I’m less busy in the coming week.

Nice , should be there soon , am close by


They started about a week ago

Dijita:
Hello baba. What was the issue you experienced? I don't mind buying Italian or Spain. I just can't find designs I like. I am looking for something that is not bland
Most especially for kitchen wall.

Anyone else with good Italian or Spanish design for bathroom floor and wall, and kitchen wall can post it for us to see.
Thanks

It depends on what you can afford in the final analysis , most Spanish tiles should be in the 8k upward range now

Heard royal and cdk tiles in Nigeria are good

Attached is Spanish for a commercial project am doing

Purchased from hay ceramics , u can check them out , have good colors/ designs