Louis Vuitton Moet Hennessy(LVMH) has its largest market for champagne worldwide in Nigeria and someone that has been their sole distributor for Nigeria for several years can't afford $100m because he isn't poor enough to be begging for capital on NSE and ahiboilandgas has concluded he can't afford the money because NSE says otherwise?
This is ridiculous I swear.

ahiboilandgas:
no need the wealthy Nigerians are on forbe list ...verifable by their holdings on Nse

So any Nigerian that his company is not public is poor or can't afford $100m?
Can you believe this logic?
Joe is dead btw

ahiboilandgas:
if he brings out 100m dollars personal funds to build a factory...tell me he not a business man but a money bags or from corrupts source....

Go and do your research on who Joe Ogbebor Aisien is and come back and say this thing you are saying.
Some importers hold mad funds oo.
He is not going to dip his hands in his pocket and bring $100m but will divert funds from JHL holdings to his factory as JHL is no longer profitable due to importation crash.
That is what I am saying.

Besides No bank will give you loan to start manufacturing If you don't have history and good portfolio.
So these people know from day 1 that it's their money they will use.

ahiboilandgas:
how many Nigeria banks that can give 5bn naira for medium scale companies? Ask u self ...they rather loan to kogi state at 27 percent and collect it with irrevocable payments orders...or loan to 10000 civil servants at 250k each at 27 percents paid in 24 months and zero monitorium

Oga we no need loan of five billion naira from bank to manufacture,that is what I am saying.
Right now it's only daredevils that are manufacturing.
Others want to and have the money for it but they are afraid because imports is taking a huge chunk of the market.
Eliminate import and you will know that there are a lot of people that have 5bn naira.
I am not guessing but giving you facts.

ahiboilandgas:
Zenith bank leading bank in Nigeria invested over 700bn naira in treasury bills ....over 60 percent of their profits come from interest on govt securities,sms charges,short term consumers loans .....no serious business....Nigeria banks ....mobilze deposits at 4 percents place in treasury bills at 13 percent (omo auctions)...then add sms charges sms commission..do Agm and share money.....come let turn the oranges im benue to an 100m dollars juice exporting company...in a 7 years plan....they do dissapper

There is no serious business for them to invest in because Niigeria is subsidising imported goods by supplying unrealistic cheap foreign exchange na.
I am telling you again,we as a people don't even need bank loan to setup a factory that already has a market that needs its product due to necessity and being a cheaper alternative.
Do you know who Josien Holdings is?
So you think if that his MOET and Hennessy that he imports and juice becomes so expensive for Nigerians to buy so much so that people no longer buy but want cheaper options,Josien will want to go to bank to take loan to set up a factory?
He cannot do it now because imports is cheap and have a lot of variety and he is not sure his product will sell.
But if imports get too expensive so much so that importers are finding it difficult to import,Josien can singlehandedly build that $100m multipurpose factory with little borrowing.
Don't underestimate Nigerians.
I know very well what I am saying.

ahiboilandgas:
Nigeria bank are too poor to finance any serious bussiness like industrialization...they dont have the long term funds and capacity...they are mere commission centres and sms charges ... they can finance a meduim size fertilizer plant work 3 bn dollar for 5 years ....they can provide finance to deep off shore explorations or 5bn dollars stell rolling mills .....this the problem soludu tried to tackle....bank of southafrica is richer than al the bank in Nigeria B4 consolidation

I said this in my last post,industrialisation must not be billions and billions of dollars,no.
I am talking 5bn naira($10m) industries springing up in large numbers all over the place due to 200m people looking for cheaper alternative of goods.
2,000 units of this kind of companies is better than 3 of those billion dollar companies you keep talking about that banks can't finance.
Also,these importers do not need your loan as they have acquired a lot of money from their import businesses.
All they will start doing is merging and opening industries.
This was China's model.

ahiboilandgas:
i was attending an international oil and gas expo...dapo (hyden oil) governor of ogun told us from his research when crude was 60 dollars ...dangote will produce at 165 naira ex depot price ..must cost of production is same for must refinery....dangote will make saving on the cost of international shipping and port charges which amount to 14 naira ..compare to his rival refinery in india ..the india refinery has advantage of years of operations...probabaly the investments has paid back with no interest to pay ....they can land pms as same price in Nigeria and compet with Dangote

Dangote has a lot of advantages which might make his cost of production less than that because he won't save expenses only on logistics.
1)Economies of scale.We are talking about the largest single owned refinery in the world here so cost of production of dangote and India can never be the same.
2)logistics cost he is going to save by not importing like you say,money for shipping and custom.
3)Labour;He is going to get a lot of cheaper labour than western counterparts.
4)foreign exchange difference in expenses is going to save him a lot of money as almost all of his expenses is going to be done in naira.
There are rumours and talks that dangote is even going to buy crude in naira sef as we speak.I trust my sources.

But dangote being a capitalist will want to take advantage of subsidy to hike pricing so that government will still pay him that subsidy money through NNPC buying from him at high price.

The only thing they can do to shock him and make him sell according to how he produce is still allow import open and modular refineries too so that his true cost of production and selling price will be exposed.
Else they are breeding another fraud and one man enrichment in the making.

When fx pricing is high,it gives room for local manufacturers to sell very well because imports will be too expensive.
Making fx cheap is like subsidising every single import that is coming to Nigeria.
When fx becomes so high,what you will see is those importers will now start coming together and pulling resources together to produce locally that commodity they use to import.That is automatic industrialisation if you ask me with little or no government support.
Also a weak naira means that we are making Nigeria produce goods very cheap for our Neighbours which will turn Nigeria to an export hub.
It was happening already in 2016 before Buhari crushed it for political reasons.
China grew by manipulating its currency a lot,an opportunity Nigeria have as we speak.

ahiboilandgas:
the problem of industrialization in Africa is a dicey one cos the infrastructure and equipments to setup this local industries and keep runing them are imported....the most painful aspect is the finances used in settings up this companies at competitive rate are best source abroad....making Nigeria local companies are not immune to depreciation cos the pay back loan in dollars to foreign institutions ...example dangote group keep raising cement price to meet up this payments here by defeating the idea of self sufficiency...

I don't think so honestly.
Nigerians don't need to source money abroad if you ask me.
Nigeria and Nigerians aren't a one man capitalist economy.
We don't need one dangote to go and borrow foreign loan to build one giant factory that will employ everyone and still repatriate funds in dollars to foreign banks.
What we need is chukwudi,musa,bankole,edet,Briggs,etc...to setup independent factories and litter them everywhere producing different variety of goods locally.
That is how china grew,not one Dangote!!

NL1960:


This was the excuse used over the years by the major players that made them not to build refineries. Dangote is now building. Is he not going to sell under the same price control regime?.

Good argument.

IamR:

1000 likes.
Some people don't see it that way.

I will love to know how you see it if you will like to share.

ahiboilandgas:
i dont want the naira getting destroyed cos it will hurt us all in the end ...

But I think naira at 450-470 will build Nigeria by crushing imports and encouraging industrialisation sha.
CBN should only intervene when it hits 500 if you ask me.
A lot of people will have jobs and new markets will be created and existing ones like luxury and services will grow due to masses having more disposable income and more employment.

ahiboilandgas:
this people are not ready to full deregulate..they say they fear price abused by marketers which is real ...deseal price at 200 kero at 220 despite crude dropping by 60 percent....Nigeria bussiness men and fake free market (oligopoly)

True.

ahiboilandgas:
this people are not ready to full deregulate..they say they fear price abused by marketers which is real ...deseal price at 200 kero at 220 despite crude dropping by 60 percent....Nigeria bussiness men and fake free market (oligopoly)

True.I think those criminals can do it.

ahiboilandgas:
crude is 38 dollar's....those 450 naira dollars will take a big hit in the short term.

Shebi dem be dey argue say e go reach N500/$.
E go soon clear a lot of people and Emefiele knows this and is using mind games to make them go crazy
This week go funny oo

NL1960:


PPPRA also announced a new pump price band of N121.50 to N123.50 for petrol today.

But I thought they say they've removed subsidy?
Why do they still have such a huge say in petrol price?

AmuDimpka:


I doubt, maybe he is using 2020...even balloon or air shocks isn't up to that .. ask him the kind of Benz that he is using.. even GLK isn't up to that ....trust me


You can look it up on Amazon and eBay

Maybe he didn't buy them tokubnbo.
Brand new set of balloons for say a 2016 E class costs a fortune.

See what speculation can cause.
Naira is currently appreciating today as we speak at this rate not because of anything but just because there are rumours circulating that Buhari is going to open borders and interstate today by 7pm.
How does this relate to fx?
Remember the CBN led by Emefiele said the moment the nation is open to international air travel,that it will provide fx liquidity for the people that need it for their various reasons which I know deep down Emefiele might be conducting a social experiment,which apparently is already yielding results.
No aboki is buying or will price your dollar very low as we speak because of panic.
If Buhari makes no announcement as speculated today,by wednesday expect pricing to start creeping up again.
This is how risky hedging with fx and foreign denominated investments can be in a volatile economy as Nigeria.
He who has ears....

Ibechris2:



Anytime I see ur write about tomatoes business here...I am always proud of u.

Keep it up.
May God bless u more.

Ah thanks brother.
Na so we see am o.
In life we have to be thankful and appreciative of the little we have.

OgogoroFreak:
4.8m a year in this Nigeria, is a rich man. Very, very few people make up to that yearly. Even 80% of graduates earn below 1.2m yearly.

Nigeria population is about 200m and 82m people live on less than $1 a day.

Out of that 82m people,70m of them are from the north.Almajiri alone is like 40m+ people.
This is not tribalism but pure common sense.
I never take Nigeria poverty statistic seriously because I know the north is the problem.Like their poverty number just offset the whole Nigeria statistic and make it unreliable.
That said,if you claim very few people make 4.8m PA,then all those 800-1m houses that litter Lagos,Abj,PHC,who are the people that rent them?
I'm guessing the same people living under $1 a day according to your logic.
It's like a lot of people don't know what rich means,sad truth.
4.8m naira PA is clearly a comfortable person,not a rich person.
This person will struggle and almost find it impossible to even buy a 2016 MB for God sake,so how is this person rich?
Abi na to dey carry corolla up and down and chop food three times a day and run gen be rich?

latestmodel:
5M

Oga delete this post before i delete it for you.

symbianDON:
that's a 2011 model

See 2011 model fog light here.
The bumper is even different.
Maybe it is difficult in telling the model of this car because lots of body parts have been tampered with.
Apparently the op changed the grill,steering wheel too and bumper.
This tells us that the airbag has deployed meaning accidented.
How do I know?Body parts don't tally with each other.ie different model body parts on the same car.
This particular car is C300 sport judging from the rims,centre dashboard screen,lack of bonnet emblem,etc..
But his steering wheel is the luxury steering wheel meaning he changed it due to deployed airbag.
His grill is not the follow come sport grill because it has been changed due to accident.
The bumper too is luxury version meaning the original sports bumper was changed due to accident.
Don't be annoyed about the year mix up,maybe it's because of the uncordination of body parts all found in one car due to the fact that they've been tampered with that makes it hard to tell its model year and age.
Sorry about it and happy sales.

uniquetechng:
It's 2011 not 2010, thank you sir

That 11/10 you are seeing there means November,2010 if you don't know

ahiboilandgas:
their are bank managers of teir 1 banks in benue that can earn those amount or more

These are exceptions.
It's not a norm in Benue.You and I know this.
Majority is what counts.

9jatriot:
800k de Benue? I will be surprise to learn there is

I feel people will start saving a lot of money when Nigeria develops infrastructure.
Atleast then,people can stay in very low cost of living areas and work where the cost and standard of living is high.
But then it will also come at another price,the labour market pricing will crash as a lot of people will also be available to do that same job for less due to same infrastructure.

ahiboilandgas:
do u know what a 800k house will be in Benue state ? Only 2 percent of 50m accounts in Nigeria have 500k and above

You won't see that income to be able to afford an 800k a year house in Benue state in the first place,reason why I don't think flats at that price even exist in Benue state to begin with.
Unless you want to work in Lagos and live in Benue and commute daily.
So to meet up with time schedule,you also need to buy a Buggati Chiron or a Chopper.
How does 4.8m a year afford this?
As for the bolded,there are a ton of people worth 10m naira that don't have 500k in their accounts,so if you ask me,liquidity Is a wrong way to judge riches.

ahiboilandgas:
rich implies having more than enough to gratify normal needs

Exactly.
So how does 4.8m naira a year income in today's Nigeria make a person have more than enough to satisfy normal needs?
Because an 800k a year apartment isn't all that legendary if you ask me,even though I am in no way belittling it.

ahiboilandgas:
if i have a rentable property of 4 apartments wort 40m ....my target cleints will be rich people that can afford to pay 800k per annum... (Rich means people that can afford all the necessacity o life )...there is a difference bet rich and wealthy people

Well,I found this and I am confused.
Rich and basic necessity should not be put in the same sentence if you ask me.

ahiboilandgas:
relative to the business on offer person that can afford 800k apartments in an investments 40m (property) are rich cleints

I don't understand,a person that has a property worth 40m and pay rents of 800k a year is rich?
Is that what you are saying?
I thought rich was classified based on income?
Because there are people with 1Billion naira worth of non revenue property that are broke as hell.
So I don't understand you maybe

OgogoroFreak:
Exactly! They want to owe you rent but they have money for court case. Fear people o.

It's just like some people that always want to buy on credit from you but if you don't have the item or refused to sell, they will go and buy it elsewhere with cash.

The bolded has an explanation.
If he is collecting credit from you,know that there are other varieties of goods he is buying from others with cash because he don't have the kind of relationship he have with you with the others.
So if you ask for cash and he pays you cash,how is he suppose to pay the others for their own variety of goods?
If at all he pays you,it means he will have lesser variety to sell thereby minimising profits.We all know this.
That is why he will prefer to go and buy your kind of goods elsewhere cash so as to still keep your transactions in credit,because the moment he pays you upfront for any goods at anytime,that is the end of his credit line with you.This is basic human psychology.
Now,don't you see that this is capitalism and the motive for this is money rather than wickedness?
Wickedness does not exist in Capitalism,money is always the motivation.

uniquetechng:
Bro the price is more than cheap enough, you can't get 011 C300 of this condition for 1.9m, selling at this price to sort urgent need.
if you get this car for 1.5m that means either the car is faulty or stolen.

This car is 2010,no offense.
The round fog lights gave it away.
Maybe you aren't sure of the actual year/age.
Happy sales.