₦airaland Forum

didymario7:
The problem remains supply. FG don't earn enough $$ that is the koko. If they had enough they don't need to sell at black market rate. All they need to do is flood the official channels with enough supply of $$ and those who resort to BDCs for the $$ would rather buy from FG. That way they starve the black market of buyers and if they can starve the black market of buyers, they can dictate the price of fx.

Exactly. Even the FG has said it openly that there is a heavy backlog in their obligations to meet dollar demand.
What that means is that they don’t have the dollar right now.
Also, there was news that foreign banks were rejecting letter of credit from Nigeria due to non fulfillment. That should tell people a lot.
Moreover, would they even be going about borrowing if the dollar was available? In addition, other issues also put heavy pressure on earnings.
A country that is servicing debt in dollars with almost 90 percent of their earnings. What else is left?

n3xt:
In absence of a response, I’ve decided to go with checkered aluminum ramp.

Reason: it’s a movable structure and it can withstand harsh weather conditions.

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I intend to do something similar to the design below. Simple and functional

Here, they might avoid this metal type due to liability issues.

n3xt:
Suggestion for where I can get the best anti-slip paint. There’s a slipping ramp in asked to fix.
I’m considering using anti-slip paint or replacing the existing ramp with checkered aluminum plate.

The option of anti slip pad and mat is ruled out.

Good morning Sonnie baba! I know you’ll have something to share on this.

Gbadexy, pls help 🙏

Thanks in advance

In my line of work, we actually rely heavily on ramps both for equipment and persons. In fact it is the law. Morbidity access.
What they do mostly is paint on engraved ramp.
I will take picture of one when I go out today and share .

tikristinimi21:
What is CD oga sonnie10

certificate of deposit like fixed deposit

somehow:
I actually know that area, hence the 'ghetto' tag. It's like the slum of that part of Lagos (Palmgroove, Fadeyi, Ilupeju environs)

I still miss my way each time I go there.

somehow:
That's Baale Atewolara right?

Honestly, I don’t know his real name. But at the bus stop, just ask anyone for directs to Ile baale. He is trained in London and an OFR. He has custmized jewelries for past Presidents

somehow:
Wetin you come do for lag not to talk of Onipani (ghetto)?

Thought you mostly do Eastside?

For gold business/investment - Ilorin or Kano straight!

The tales by moonlight phrase get owner... Just decipher

The closet International Airport to my village is in Lagos, especially from my departure route.
The Baba is the Balaa of that community, so he can’t leave that place, even with all his high end clients.

somehow:
Cappings

Tales by moonlight don plenty for this thread today.

NTA tales by moonlight nostalgia

Make I promote Baba business small.
But no be all clients Baba dey entertain oo

n3xt:
You’re very correct. In fact those doing it are just stupid. They don’t know maths

Anyway, I have over 40 units for sale sha 🌚

As chewing bitter kolas dey sound for ear, no be so e dey sweet for mouth.

somehow:
Imagine that same money in gold 5 years ago

A gold ring of ₦1.3m 1 year ago now priced at ₦1.8m+.

I just dey laugh

I bought a set from the Baba at Onipan ( He is the best gold smith in Lagos - Abbey Jewelers) #60k in 2007. The last time I took them to him to wash, he was willing to buy them back for #1.3M as at 2020

rotecch77:
It’s true BUT it’s clear that when you put all things together plus water tanks stand and All others external work the money will gulp up to 180-200m to complete this project am seen
Let just say each floor 40m*4=160m add external work and fence 10m =170m tii lor

#170M plus other fees tax and misc #20M
We are almost at the #200M . Then land another #150M,

So where is the profit, with all the wahala, risk and stress, if you are going to sell all 9 units for #360M?

The house might even not finish and sell out under one year.

Did you know that if you have your #350M in any CD at 5% interest rate that would be 17.5M while you sleep? Risk free!
If you even shop well, some banks could do up to 10% . Giving you #35M while you take a vacation.

Aforxzy:
In addition to its specialized techniques, prestressed concrete is complex and expensive.
It allows for longer spans lengths, Smaller section /depth , Crack Control and material savings.

If it is not done on site or in situ, can we call the prestressed slab, precast?

n3xt:
Kooell baba 🙌

Even you chose to spend N1m on each of the item listed below which is outrageous amount to spend on a 1 bedroom apartment and splash 5m on structure, you won’t still get to N20m

1. Structure
2. Block Wall/Partitions
3. Plastering
4. Wall Screeding/Painting
5. Electrical
6. Plumbing/Mechanical
7. WC/Toilet
8. Doors 5
9. Windows 5
10. Tiles (floor and wall)
11. Ceiling Finish
12. Wall Sconce/Light fittings
13. Kitchen
14. others


Interesting circle!

Bosun, all these things you listed and deliberately dodged the main money gulper, why?
We are talking about a four floor building and you avoided foundation and the decking cost for each floor calling it “structure” like it’s a bungalow

n3xt:
I don’t know but with what I’m doing I don’t see us exceeding N120m

And those taxes, administrative charges blah blah, you won’t spend up to N20m. I keep receipts of all these things and I know what I’m saying.

I just paid 400k for NDT this morning and it’s not like I’ll be paying it every month. It’s one off

The footprint is not more than half plot of land.

Calculating per square meter is not a new concept. Every house in the US is calculated and sold that way. Even more than 20 years ago, as a first time home owner, it was done that way ( This is by the way ) .

I drew my inference based on the information you presented earlier . See below.
Let me explain and you make the conclusion
You stated that those units were sold for #30M last year.
Now, it is #40M
That is #10M difference which represents about 33% increase ( as a result of inflation , and not increased profit margin)
So 33% increase in cost from that last year, will amount to what for the current cost of construction?
Don’t tell me you could do it for #80M last year, that is if we base it on your current #120M quote (33% of 120. )

n3xt:
Baba, you’re asking the ’show me the money’ question! 😂😂

Make I share one secret with you! I don’t do my calculations this way. It’s layman strategy.

From 2015, I started doing my costing by sqm

If you divide N20,000,000 by 70sqm, which is considerable size for a mid-range 1 bedroom apartment, that’ll give you about N285,000 per sqm. Too much nau! 😂

Regardless of whatever you choose for finishes, construction cost never reach that level for Naija.

The most expensive tiles advertised on this thread is still less than 30k per sqm and I’m not sure 3% of the potential customers here are buying it.

POP hasn’t gotten to 20k per sqm

What else will a one bedroom apartment require that’ll drive the cost to 285k per sqm?

Concrete per cubic meter from Lafarge is 75k


When you do your costing this way, it’ll help you know how much you should spend or budget on any project.

Now don’t forget economy of scale. The cost of production reduce as the number increases.

So how much will build a four floor apt like the one you mentioned?

n3xt:
Ericko2k2, you said you know I have brain and you want me to be using that brain to do primary school calculations 😂😂

It’s wrong nau!

I’m not bothered about what anyone is doing and I don’t expect anyone to disturb me too if you can’t take me to court.


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A client asked me to make a business case for a N150m half plot of land in a prime location (I won’t be able to share).

I didn’t do anything. I just send him the picture below and told him the distance between his land and the location where the property is just 8 mins drive!

A good architect can conveniently get you 9 units of one bedrooms with good parking space space and other ancillary services on 4 floors

If he sells at N40m per unit, he’ll still make good profit from the investment in less than a year!

In these type of projects, the higher the price of building materials, the higher your return on investment.

Land #150m
Building proper #200m
Total #350M

9 units of 1 bed apt at #40M each = #360M
Less tax, legal and administrative fees/ miscellaneous.
Where is the profit?

Kelvin30286063:
What a stupid question. Must I personalize it to a first person singular before you understand simple English?

Cover your face

n3xt:
I’ can’t count the number of projects I push to other people silently on this forum but then because one person with an entitled mind missed an opportunity, I’m a fake person because of it. 😀😀

On top say make we help each other

Is there anyone here who can point out that brabus/n3xt or Bosun asked him/her kickback on any project??

I can’t count the number of people I sponsor to go and carry out survey on clients projects here.

It’s well!

Bosun, na only me never chop from your hands here. Remember your boy too!

I am more concerned about the impact on food security.
When most of the available land is used to plant palm trees for commercial fuel, Where will they plant other food crops?

Kelvin30286063:
Except south west is also one of the largest producers of palm oil. My parents village is literally covered with palm trees

My parents village? Lol
Are you adopted or surrogate?

Newdawn30:
The same Indonesia that came to Nigeria to Take palm seedlings that year.

Nigeria, they have left you behind

It’s Malaysia

n3xt:
Conflict is good when it’s healthy. It allows room for mutual respect and it produce better outcome.

Conflict is childish when you’re hell bent on drawing blood - one person must die 😂

That conflict you have with Someone, how long are we going to wait before we see it metamorphosis to respect?

n3xt:
Smiles.

Baba lati still dey reign

It’s nice engaging you. I miss my elder brother from Ibadan.

When the chick finally comes home to roast, everyone resorts to answer his father’s name.

n3xt:
What you know and understand precast to be does not necessarily translate to what other people understand it to mean.

You must have heard of precast parapets which are usual done without reinforcements or with less reinforcement.

Greetings and Happy New Week

Any other thing is Baba Lati’s invention

n3xt:
He specifically argued that prestressed concrete elements are different from the regular precast concrete element we see around daily.

If you do a search for precast on Nairaland, the search result won’t bring you image of concrete elements like what you shared.

The only meaning of precast I know is that the concrete slab ( various shapes and sizes) was poured and allowed to form and hardened elsewhere, other than the intend main structure where it would be used. The opposite of precast is in-situ, a Latin word for in position. Done in the position where it is intended stay.
Precast does not mean substandard slab made without rods.
If done well, all precast must be prestressed. It does not matter whether it would be used for bridge. Parapet, soak away cover, lintel etc.
The prestressed factor of a precast concrete is just to determined if it would withstand the intended load/pressure.

rotecch77:
The prestressed concrete is diff to regular precast conc as you mean sir…. Post- tension and Pre-tension method with what we called TENDON is the way here
I will explained how it’s been done soon when much less busy

Precast must be prestressed before they are even certified for use ( You can’t divorce the two)
If you have seen how the precast slabs are transportation, you would know that any shady material can’t withstand such stress.

rotecch77:
Prestressed concrete is another technics to get more strength concrete.
Most new bridges in Nigeria now have this concrete system.

Almost all the bridges here in the US is precast. They bring those lengthy precast slabs to site with special trailers.
But the pillars are done onsite.
You could wake up to see a bridge standing where there was none the previous day.

Sevenpin:
what else can Nigerians do ?only to suffer and smile ,we have been divided by tribal and religious bigotry,how can Nigerians rise to defend what is right.
OH!!! MOTHER LAND

They just laughed at you.
They will tell you to rise and defend when it’s your peoples turn.

topsy23:
How do they pump into all these tanks. They could have used one GRP tank of higher capacity

Some tenants use more water than otters.
Some tenets go dey form big man to pump.
Whose electricity would they be using to pump for everyone?

Kobicove:
I'm sure he bought the shares in one of those yeye one-man businesses that don't know what they're doing.

I challenge him to mention the name 9f the company where the value of shares dwindled from N1 million to just N11,000 between year 2002 and year 2023

AG Leventis which I did around that time for almost the same amount is even worst.

jabolo:
No 'ugly' 9 inch block in sight.

I am curious to know how you were able to tell that those are not 9 inches blocks

Jummymine:
Hello everyone!
My roofer gave me a quotation of aluminum roof from the factory 0.55 as 4200 per meter two weeks ago but today he is it's now #5300 due to the increase in dollars. He is saying it might go down if the dollar drops. I want to seek your advice if I should go ahead with the project or I should wait.I am scared of it rising more.

At any stage you are on your building project, if you have the money, just get over it. Don’t wait. This is not to say you should not be mindful of pricing and price quotes