IbeOkehie: Depends on what you mean by business. Selling LABOR is a business, so an expansive definition makes EVERYONE that earns money a business person.
Then one has to measure ROI. All those hawkers selling boli, trinkets and gala on Nigerian highways are doing business for sure. So is the owner of your local barber salon or mama put food stand. Most would rather work a security job in the UK than do any of those because they will earn higher pay and have money left over to remit to friends and relatives in Nigeria.
I wonder how all those Nigerian workers in the UK manage to send home billions of pound sterling every year. 🤔
Many of you who've NEVER traveled outside Nigeria don't understand or comprehend the vast chasm between the Anglo-Western nations and Nigeria...or maybe they do and hence the burning desire to denigrate diasporans.
Nigeria has 30% unemployment and yet it's supposedly full of business mavens!!! Nigerians won't kill me on this Nairaland abeg 😂.
I went back and looked at some threads from 2008, 2011, 2013, 2018 just to laugh at how Nigerians even back then were insisting that their shithole was paradise. Of course I was similarly misguided for a time but now we know better.
Only 0.01% of Nigerian live at a basic modern standard of living...house with accessible and affordable good water and energy, private car or clean, safe and reliable public transport, flush toilet, adequate nutrition. Accessible and quality healthcare, security of life and limb. Nigerians can't even legally own land in their own country. That's whether you own a business or not.
Nigeria is a Zoo and it's an insult to common sense to compare even its highest standard of living to the lowest working class conditions in the UK.
Cheers!
Cho Cho Cho Cho...as usual just long baseless babble. Cognitive dissonance is your stock in trade.. you're so closed off that arguing with you is pointless, even when I jab you with facts you go still deflect and start writing autobiographies na why I ignore you earlier...so no lectures from me to you on a basic concept like PPP...shey na person wey say 4% is greater than 96% i wan put leg for shokoto with...lol
koonbey: 1. Most Nigerians, and people in the UK generally, do not NEED to start businesses. You think the reason why every Tom, Dick, and Harry in Nigeria is selling clothes or farm produce or hair or small chops or whatever else on Whatsapp and Instagram is because they are 'particularly given to enterprise'? Lol - how cute. Let me inform you that actually, it's because they have no other option. They can't find good jobs so most turn to selling anything to make ends meet. You can't even get a job as a bank teller or a school teacher in a state primary school unless someone puts your name on a list or gives you a note.
2. Despite (1), many still do. I work with many tech companies that are based in the UK/US and have Nigerians on the team, and they are doing great. Even on the ground in the country, almost all of the founders in YCombinator, and high-flying startups generally, will typically be people based abroad but who are building something to cater to the Nigerian market, and especially the diaspora that remits billions, as someone highlighted earlier. I'm pretty sure that on a per capita basis, the proportion of Nigerian immigrants who start businesses abroad is higher than the proportion of 'natives', but I don't have stats for that so feel free to discount it.
I do agree with your point about our community not being as cohesive though. It's a problem at the moment but I believe there's a real opportunity there, which is why I actively interact with 'our people' as much as possible to identify people one can build with over time. It starts with us as individuals, after all.
I acknowledge your points.
On your 1st point, yes I agree, necessity forced many to think outside the box and start any sort of business, but there are people who are genuinely and deeply sold to being entrepreneurs. I am one. I have never viewed a job the way my contemporaries do. Ask anyone close to me they will tell you I'm that way. I have always seen a job as a means to an end.. something that is merely to provide me money to do what I really want to do. You are right, but you should also admit that the bulk of people immigrating are workers, people who quit jobs and moved out. Do a ratio of those who quit jobs and moved out Vs those who folded up 'viable' businesses and moved out, and you'll see the picture I am painting. It isn't about the need to start a business, rather it is about the desire. Most don't have it and it's perfectly fine. We are all wired differently and have different purpose in life.
On the second, see what I shared in the old thread I was talking about, see the bolded..I am basically re-echoing what you said in my own words and way. More Nigerians 'abroad' doing more business more on per-capita basis?? How na... Lol. Using Nairaland members as sample size lasan shuts that down nicely!!! How many dey here wey dey do business abroad, hands in the air🤣
Treadway: Lol. Unfortunately, most Nigerians who emigrate are not entrepreneurial.
As it was in the 60's, 70's, 80's, 90's, it is till now. Unlike other races and nationalities (Indians, Asians, Mexicans) that also emigrate, but over the years have made their mark and are thus more formidable as an racial/ethnic bloc/community, most Naija simply do not have their brains wired for entrepreneurship...even harder to think that way now considering how difficult it is to make enough money to start a business in 2023, not to mention the inherent risks. Which Gbadebo or Okoro would wanna risk losing what took him maybe 25+ years to accumulate if their business goes belly up?
When they do have children, for the few that have truly special children that have the fire, they have to come back home to really make sense. Demand and supply! Do you think Andela would have made any mark in the US? Demand and supply. Andela in the US is just another bee in a swarm of bees, but in Nigeria, same Andela is a queen bee..... now the shocking part is even these special children that have it in them, you can literally count them by hand. Like most emigrants state here on this forum, most moved overseas just to live a happier life. Being an entrepreneur certainly and evidently isn't in the cards for most Nigerian emigrants.
Lol
On the third, good to hear you are doing your bit...but if what we read on this platform is anything to go by, then way still looooong gan
DoDirtsLikeWorm: It is not wuruwuru, the devaluation is real. The CBN rate can be said to be the fake, because you cannot get it or else you are applying for PTA (limited) or Form A, others you must go through a particular channel and that channel was what I talked about...NOT Student stuffs.
Meanwhile, if I hand you over £30k now, will you change it through that your so called wuruwuru or head to you bank for conversion? I want check something and I dey wait your response. I like practical 🙂
we are not talking about all these things you are saying. We are talking about purchasing power parity (PPP) btw countries, not this form A or parallel rate/official rate you are talking about. Read it up. In simple terms, it means someone who makes 30k pounds is comparable to someone earning 5-6m in Nigeria when you consider how the money can go round when spent in the respective countries. When you get an annual pay of 30k pounds you spend the bulk of it in the UK, not Nigeria. You don't take your 30k salary convert it and be smiling that you have made X million naira...but still be complaining about cutting hair for mere £30. That is the wururwuru conversion a lot of people do here. It's hilarious actually.
segunzolawalez: Nigerians here in the UK hardly talk about owing businesses, why?? I haven't heard of Nigerians who own big businesses in the UK. Most I have heard about are those who own African restaurants, African shops, carehomes or care agencies.
even those ones you mentioned can be counted by hand. First of, most Nigerians abroad spanning generations are not particularly given to enterprise. Na greener pasture/ work dey find go, no be to do business..Simple.
Second, the togetherness to foster a formidable community that in little strides will make things easier for everyone in the community like the Asians, is totally lacking.
Third, even the few who are entreprneurial have to deal with greater barriers to entry than they are used to back home, even for the basic things such as cost and legal requirements to start a business in these countries. So, there you have it. There is a thread somewhere here where this topic has been discussed.
Walahi na drug baron them be, Or pipeline vandals, or this their newly found Lagos Real Estate Racketeering biz.
too much cognitive dissonance on display here. Dustydee is talking about PPP not wururwuru conversions. You don't spend naira in the UK and we don't spend pounds in Nigeria. He already gave u a simple calculatior which I think is somewhat accurate. So if £30k pounds is about 6-7m in relative value, the 52k pounds he mentioned his friends here are making would be anywhere from 10-12m per annum. You guys just punch figs in a calculator like when they pay you that 35k pounds you will carry every single pound come naija next day to convert it without spending one pound of it there in the UK..lol
SIRTee15: You can actually buy a house under your company name in UK and very much legal, your company will be responsible for the mortgage. I don't understand the criminal intention u guys are associating with above. How above becomes a criminal tax evasion baffles me. Most people into real estate buy property under their company and not their name.
I know all this, but don't act like you don't also understand that some without proper understanding simpilify this and use it improperly in a way that it now constitutes tax evasion. In one of my responses, you'd see where I said I may not have the full picture or context of your dealings pertaining to this subject, but I have read a lot of posts here from people buying property and doing this, clearly without a full grasp of it and think they are doing tax avoidance. From the way you stated your points eg mails to the house, proper filing, records and documentation of the 'new business outlet/office' is critical. What I am saying is some are not crossing those T's and dotting those I's and just assume since they are buying said property thru the business lobatan. Someone made a post recently wondering why he/she can't rent out a part of their property despite knowing he/she did not enter into a buy to rent mortgage agreement with the lender. I guess what I am saying is ppl better be crossing all T's and dotting all I's, else they inadvertently fall into the category of tax evasion. Actual business people know well and good how to do that due diligence to ensure they are using those avenues, and still remain on the right side of the law.
sukkot: all these things sound so American. You go have lunch with someone and then write it off as business expense tax ? All that is American. The british system is different. I am sure you can doctor a few things like pretending your wife is your secretary and put her on the payroll for tax purposes but yeah that is tax evasion and not legal tax avoidance . I think you are mistaking what that guy is describing as legal tax avoidance. The guy is talking about just buying a house and saying it’s part of business expenses. That’s criminal tax evasion
ha noo oo. That one no follow. I'm talking about the actual legal leeways available to businesses to reduce tax burden. Although this specific example on the house you gave will fly in Canny and the USA..in fact some on here have also exposed themselves as partaking in this.
sukkot: also going through your threads I don’t think you can afford a 50 thousand pounds house talk less of a 400k house so why come here to talk big ? You are a personal shopper. That’s minimum wage job . So why come here talking so big ? But then again you wouldn’t be Nigerian if you didn’t talk so big. Here is the link to your thread where you were looking for people who want to buy items abroad . Like how much can you even make doing that ? It’s not sustainable. You need a career . try python coding
brutality yi ti poju...Temper justice with mercy ke. No vex...maybe like many others this person knows someone who is making the big Mula. Apparently a lot of peeps here always tend to know someone making it big, even if no be dem gangan.
Although tax avoidance is the legal structuring of affairs, if HMRC comes across a scheme, they will work at shutting it down and re-claiming any tax lost to them. Code of Practice 8 investigations look into accusations of avoiding tax with the view to claw back any monies lost to the Exchequer.
bro and Livingstone2013, the fact remains tax avoidance is legal. Now I may not know exactly what that guy is doing to reduce his tax burden as you may be right and what he considers avoidance is actually evasion, but as far as those legitimate avenues are available to reduce tax burden for actual businesses gbagbe o legal pa...even simply adding financial leverage alone will reduce tax burden, but behind the scenes the financial leverage may not really be an interest-bearing loan. Would you rather charge a fancy dinner at a toosh restaurant to your private credit card, when as a businessman you can charge it to your company account as part of business expenses eg claiming you were having a business discussion with a prospective client at said restaurant. Who go come verify say no be client you take go restaurant? The avenues are there, as a businessman me I would use dem for sure😎😁
Where do they pay taxes in Nigeria? Who pay taxes in Nigeria? Usually in the US, you see taxes you pay on everything you buy. Even if you buy a $1 tomato at Walmart, you'll see the tax added to your receipt. .if you earn $CAD50k in Canada, $CAD18K will probably go to taxes. Is this how it is in Naija?
I believe that if nigerian don't get everything for free but rather spend the way they spend in abroad, Nigeria go better.
With the exception of those working federal, State, local government and some private organization, who are the ones paying taxes in Nigeria? Nigerians don't even pay for electricity. Lol
this erroneous notion has to stop. People are taxed on a daily in Nigeria. Don't be shocked say cumulatively those petty traders dey pay more 'tax' than you do in a month. You wey dey naija supos know this ke, na abroadarian come dey analyse am for you bro. O wrong naw..lol
dopedan: The sea weed is always greener In somebody else's lake You dream about going up there But that is a big mistake Just look at the world around you Right here on the ocean floor Such wonderful things surround you What more is you lookin' for? ~little mermaid
lol. Thanks for reminding me of Sebastian the crab. As far as I'm concerned Sebastian was the highlight of the Little Mermaid that made it golden, not even Ariel....lol
SIRTee15: Its your choice if u want locum or salaried. U go for what's convenient for u or balance both based on number of hours u put into salaried job.
sukkot: locum is not a job. you are just filling in a temporary need
I know bros, knowing Naija people I won't be surprised they could be juggling both a salaried job and locum temp. My next question to sirtee15 which I may was well ask now is are the majority of HCPs (Nigerian or not) now into locum practice or does the NHS have the majority of HCPs on the payroll in a salaried job?
SIRTee15: If u don't know, ask questions instead of forming what I do t know. There's a difference btw salaried job and locum job. That's the difference.
ok. I know what locum is. So are the majority able to do locum on the side and still keep up with the shifts and demands of the salaried job? I ask cos in Naija it ain't that easy
SIRTee15: Another one from my e-mail. Now that we've clarified doctor's salary in UK.
Now explain to us how u lived in UK for 20 yrs without a house to your name. Houses were fvcking cheap then. All u needed was 5k to own a house. So how come u never bought just one, even if council house. Were u blowing all your money in clubs or spending on girls. Did u send your kids to private school or what? Tell us your mistakes so others won't repeat same mistakes.
although I dey vex for Egbon Sukkot at the moment, you and justwise have not in any way weakened his argument with your responses. Sorry. The article he posted is as recent as they come and talk clearly about 'majority' in a clear sense, hence, why there is a freaking strike. It does not mean some doctors don't earn more than 14, it simply means most earn close to that, hence, the strike by the MOST. Simple sturvs bro. Some FMCG pays some Head of Sales 1.8m monthly in Nigeria, and some pay Head of Sales 70k monthly. I cannot now, bring screenshot of the ad that seeks to pay that Head of Sales 1.8m as the standard in an argument. The article Sukkot posted shows clearly the pay range of the majority, except YOU are saying they are striking and shutting things down cos of three or four doctors.
Before some fellas come say I am putting compatriots down, edakan na simple discussion and analysis I join o. T for thanks.
studyless123: I agree with you. There's dignity in labor and no one should be undignified as a result of menial jobs. However that report is an outliner. Besides 100k earnings is worth about 35k in NY when adjusted for cost of living. These are important considerations when dishing out figures.
you analyse am well. Wetin make me laff taya when I saw 1stGenAmerican post earlier was I know damn well and sure that if a garbage disposal guy who ticks all the other boxes ask am out before she had access to this info she shared, she would 99% turn him down....if a garbage disposal guy ask am out now after having access to this info she would 99% still turn him down🤣🤣🤣. We know there is dignity in labor but that bias go everly still dey💯. Same reason a babe that works in KPMG will likely not accept to roll with a lastma officer stationed by the side of the road despite that he ticks all the other boxes, even tho those guys are making maybe close to half a million every month in illegal deals.
All in all, I don't know why all these threads keep popping up. Anyone wey wan go, na their business. Conversely, anyone wey wan stay na their business. Even tho my patriotism don die, as a businessman I go everly still stay to milk the mula from this mammoth crowd wey dey here. Those wey wan go collect there, no supos give anybody headache na... whatever challenges are to be faced here or yonder also no supos give anybody headache aside the person facing it. Ire o!
IbeOkehie: I don't think I've ever exchanged comments with you. You're not even bold enough to post your real name so why bother? I can bet you're one of those trolls that has taken on another Nairaland handle, you're either Treadway or what the other one, Ahiboilandgas LOL.
Where did I ever post that Nigerians or anyone becomes a millionaire once they get to the USA? Where? I've never claimed the Anglo-West is perfect. We have our problems, I should know that having lived here for over 30 years. However, those are what are politely called 1st Word problems.
And where have I posted that nobody can live a good life in Nigeria? I personally know Nigerians that earn over $1K per day working in Nigeria. That doesn't negate the truth that Nigeria has the highest poverty rates in the world according to recent data or that the unemployment rate is over 30%. I truly don't understand why simple truth riles people like you so much.
What is a good standard of living? For me, having a family, it's owning a good home within a short commute of your workplace, owning a couple of cars, earning enough to afford reliable and safe water, energy supplies and nutritious food. Affordable education & healthcare for the children and parents too. Good communications and infrastructure should be available. Law and order enforced to the extent that most people can feel safe, a good measure being willingness to undertake an interstate journey at night. No need to live behind concrete walls with signs warning THIS PROPERTY IS NOT FOR SALE, that sort of thing.
Whether in USA or Nigeria, that quality of life listed above will cost at least $30K per year. How many Nigerians earn even $10K per year?
That's all. It's not too high an aspiration. The reality is that such a life is easier to attain in Anglo-Western countries than Nigeria or any African country. For that reason, I advise that any Nigerian with the means to migrate to the Anglo-West should take it without hesitation. Even President Buhari and his family know this, that's why they've lived abroad for over 40 years. He's a REAL PERSON and I admire his example. I'm a real person that anyone can check and find credible.
And you? Your opinions are so deluded you're afraid to post your real name
Ummm, $100K in the USA isn't too high a salary. The median household income in the USA is now over $60K. I supervise workers with high school diplomas only who make $40K, in 10 years anyone of them with the requisite ambition can easily make over $100K equivalent. There's so much shortage of workers here, we're desperate to find more. Ordinary finding mechanic to work on your car or plumber to fix a toilet is now a problem, a friend just called me a few minutes ago asking if I know someone that can fix a washing machine. Anyway...
To the OP, you would be a fool to return to Nigeria, a country where you have to use old currency to buy new currency to spend. Try and settle down, get married, learn a manual skill in demand if you can't finish university. If Canada is too bad, do what some people I know personally have done - come over to the USA. I started with exactly NOTHING, same for many others in this country and you can do it too.
Good Luck.
sorry ehn Ibezim Okehie. I know now that you can't do without me. You will be alright las las. May the prince of peace calm your mid-life crises🤣
IamPlato: oga the match was fixed. Watch that knock out again.
That Knock out was not powerful... This is a fix to set up suspense for another fight.
Watch out for the n xt fight
lol...you are so wrong bro. He delivered that shot to the back of the ear. Do me a favour, try just hitting the spot behind your ear towards the neck very lightly. You will see why a blow to that part will knock virtually anybody out. It was a very good, and clean lucky shot. Pereira thought he was going for the kill and let his guard down not knowing that Adesanya was pretending and just leading him into that trap. Very spectacular fight...brief but spectacular.
Pereira isn't getting a rematch unfortunately. He will have to fight through the ranks to get another shot, if ever.
1Sharon: Their stories are truly intriguing. This japa movement has really ruined relationships between Nigerians. Couples breaking up, thinking they can do better than each other, friends becoming enemies. I just listen to them and see how unreasonable and paranoid Nigerians can be.
They don't let people in on their plans because they fear evil eye. But if you don't trust friends, why have them around you and then turn around to expect well wishes?
People who were comfortable in Nigeria with multiple houses and cars, got rid of it all, just for greed. As the saying goes if it ain't broke don't fix it.
But then what happened with Yul Edochie's son made me rethink a little. The rich in Nigeria still feel insecurity. If Yul's son was in a developed country, a seizure won't have killed him.
lol. Very hilarious submission. Bob Marley's grandson died of asthma. I used that example as it is a known person. There is even a trend with a hashtag 'died suddenly' of an uptick in the number of young people suddenly dropping dead in public eg at the gym etc...and conspiracy theorist are even trying to tie it to the covid vaccine ( which could have some merit actually) BUT according to you people don't die overseas.
Israel Adesanya former UFC MW champ comes into this fight as the challenger, and Pereira his personal boogeyman and nemesis comes in as the reigning UFC heavyweight champ.
This marks the fourth time these gladiators will clash. They had fought twice in Glory kickboxing, with Pereira emerging victorious on both occasions. Israel left Glory and forayed into MMA and the UFC clearing the MW division to emerge the undisputed champ. It didn't take too long before boogeyman Pereira trailed him to the UFC and in November 2022 they clashed a third time, this time in the octagon, and once again Pereira came out victorious, claiming the UFC MW title. https://www.nairaland.com/7430138/israel-vs-pereira-3-verdict
Come Saturday/Sunday 4am, they will meet for the fourth time in a rematch for the title.
My prediction: Izzy will come out with his full arsenal. We will see the hungry Izzy of old that cleared the division. He will be gunning for a lot of takedowns, he will give it all he's got. It will truly be an explosive fight, but I'm 70% confident Pereira will still emerge victorious regardless.
She does have a good voice, but I wouldn't call this great singing. Most times, less is more. You don't do riffs and runs all through a song, it just ends up coming off as chaotic...
studyless123: The article was correct and it is in line with the NBS figures for 2022. It was only referring to FDI which is a subset of capital importation. FDI was 468M and capital importation was 5,328M
I would have said it's a lie but then there's very few job openings in Nigeria now. It's also very difficult accessing forex especially if you have a dorm account and practically a lot of my friends complain of the same thing too. It wasn't like this even as of 2021. You could do dollar pickup from azimo. Now you can't. If Nigeria was getting 5 billion usd inflow, forex shouldn't be scarce at all. Even buying dollars at black market now isn't easy as before. It's not readily available as it was even 2 years back.
nice of you to share the link where you got that figure from. But it is at variance with the facts/figures from both the NBS and The world bank., and I know why. One minute the author is writing with reference to total capital importation into the country, and the next he is writing about a subset of that total capital import which is FDI, but isn't clarifying or delineating both. The problem with that is that it can confuse people to think that is all the country's capital import which is what has played out here. While I won't argue about the FDI figures, as more info is needed, I did read your link and it did reference the NBS, but for now only Q1 and Q2 data are on the NBS site, and FDI for those two quarters are quite in line with that theory at a total of about 300m, but it also shows the delineation that the Bloomberg article didn't clarify which explains the discrepancy. Cheers
Note: I have the screenshot of Q2 but it is almost same figure as Q1 but a little lower, which is why I just said the sum in my post
igbsam: Make i drop one funny gist. Na so konji nearly finish one of my guy wey just enter Youkay, my gee enter site to find babe. Na so him see one fine oyibo, that one invited him to her house around. Guy enter make him do the do. As dem off cloth say make dem run things...na so bobo sight rod o. Ah! Na man o....my guy say him no know when him borrow leg join him own pick race. Forget say lift dey the building.... bobo use staircase, run leave him shirt and sneakers. Laugh wan finish me while narrating this to me. He then showed me the babe profile. True true you no fit know say na man. But something he didn't see written on the profile, the babe write say she be trans. Konji no let the guy see that part. Till today, i dey use am taunt am.
I think you need to check this thread. Nigeria attracted 5.33 billion dollars investment in 2022 against the 406m you quoted.
no mind these cats bro. They dropped a phantom fact/statistic, but as we both know they will not simply say, 'ok I was wrong OR I am not sure'. I was prompted to do little cursory search on the subject, even the much touted world Bank data and that figure of $460m is just fictitious. The figures for 2022 are not in the public domain YET. Last quoted figures were 2021 at $3.3b . Anyone who has evidence, Let's see screenshots so we all can learn.
See screenshot of the world bank website and another site referencing the same world Bank data/site.
Blurpy: Omo! I see price £130 for one hour. I don reach mall go restock on my bathing soap 🧼
lol. This your bathing soap na multipurpose soap..no be bathing soap again🤣
With the influx of single naija babes to the UK that are similarly kongified, should it be a easier to get laid these days? Just find one to go into a 'mutually beneficial but not exclusive' FWB arrangement na. Naija babes sef don full there na