₦airaland Forum

Today, embattled Senator Dino Melaye representing Kogi West on the platform of the All Progressives Party (APC) returned to the National assembly and even defected to the Peoples Democratic Party (PDP).


The Nigerian Senate's official twitter handle shared an excerpt of his statement on the floor of the nation assembly today.


Dino Melaye is quoted saying, 'I thank God for his intervention on two occasions were the Nigerian Police made attempt to kill me through chemical substance and Injection'.


He also added that, '“I thank the irremovable President of the Senate, Bukola Saraki and my Distinguished Colleagues, I thank the Speaker and all members of the house of rep for the love and support throughout this trying period.”


http://wakanda.ng/police-tried-kill-twice-detention-god-intervened-dino-melaye/
mynd44

Senator Dino Melaye has defected from the ruling party, APC to the opposition party, PDP.



Welcoming him to PDP, fellow Senator Ben Murray Brue tweeted, 'Great to have @dino_melaye at the @NGRSenate today and hearty welcome to our great party, @OfficialPDPNig. We will treat you good - no trauma or intimidation whatsoever'.

http://wakanda.ng/welcome-great-party-will-treat-good-bruce-welcomes-dino-melaye-pdp/

Suspected herdsmen this morning attacked a seminary in Jalingo, Tarara state, leaving a Catholic priest with gunshot wound on the leg and many of the students seriously injured.

Punch reports that cars parked in the seminar were destroyed during the attack.

The Director of Caritas Nigeria, an agency of the Catholic Church, Rev. Fr. Evaristus Bassey, disclosed this recent devbelopment in a WhatsApp message.

“Please Frs, pray for us. Our minor seminary in Jalingo has just been attacked by the Fulani, some students are injured, some cars destroyed, two priests beaten and one shot on the leg. They are currently receiving treatment at FMC.” Father Bassey wrote

Most of the injured students are currently receiving treatement at the Federal Medical Center in Makurdi.

This attack comes three weeks after two catholic priests and 17 parishioners were killed in a similar attack by herdsmen during an early morning mass.

http://wakanda.ng/herdsmen-attack-seminary-taraba-shoot-catholic-priest-leg-injure-many-students/
lalasticlala, mynd44

One of the major factors making business establishment rather difficult is the issue of finance. Many Nigerians do not know how to Raise Money for Business in Nigeria and this tends to hamper business progress.

Those among them already operating one business or the other are forced to remain perpetually on small scale level due to lack of funds to expand such businesses. In this write-up anyway, you will get to learn one or two things you can do to raise funds for your business right here in Nigeria.

Personal saving

You can save up some money to run your business instead of relying on anyone for help. You do not need to save much each time. Just saving a little at a time can amount to much at the end of the day. The best way to get fund via this way is to start saving early.

Start saving from the very first day you conceive the idea and it would have amounted to so much after some times. Some are of the opinion that starting with your own savings will prompt you to manage the money very carefully and this can help build up your business within a very short period of time.

Partnership

This is yet another way to raise funds for your business in Nigeria. All you have to do is to go into partnership with someone ready to foot the bills to establish the business, while you bring the business idea to the table. The two of your will work based on agreed business formula.

This method had been known to work quite fine over the years. You do not need to depend on the partner alone for the fund. The two of you can team together to raise the funds based on percentage sharing.

Crowd funding

Many people are now into crowd funding as a means to raise funds for business. Truth is crowd funding is not so popular yet in Nigeria as there is yet to be a website set up for that purpose. Be that as it may, it is already being used by many offline. There is however possibility that it will grow more popular online as the years go by.

Crowd funding can come in form of cooperative societies. Another form of crowd funding is via family members and friends. You can equally raise funds through religious groups. . All you have to do is exploit your membership of such a religious group and you will be able to raise funds for the business before long.

Entrepreneurship programme

You can equally enroll in many of the entrepreneurship programs in Nigeria to raise funds for your business. There are many of them there in Nigeria and you can easily join any. What these people do is to listen to your business idea and find out how feasible it is. Then they will consider sponsoring the business based on agreed terms.

They assess your business proposal and those of other members in the program. You are sure of getting the desired fund to finance your business if your business proposal is acceptable. Interestingly, these organizations may not even ask you to pay back what you are being given as business fund.

Sales of assets

There is no point in keeping items you do not need urgently. Why not just sell them off to raise funds for the business? When the business begins to prosper and make good profit, you can always buy those items back. If you have landed properties, you can sell them to raise funds.

Also, there are some items, like cars, electronics and other stuffs you can sell off to raise funds. Raising funds this way will give you peace of mind and you will never have to worry about paying back along with interest. You will be able to do your business with peace of mind and grow at your own pace.

Online business

If the truth must be told, online business costs far less than many of the brick and mortal businesses people do. For one, you will never have to spend so much money to rent shops. You only need to put together a wonderful website and this puts you in good position to get the desired loan. Here is a free phone number budgeting loan, so you can find the best loan for your situation.

A functional business website will only cost just a fraction of the amount you would spend on resting and fitting a brick and mortal shop. Additionally, a website will help take your businesses beyond the limited scope of your environment to far beyond.

You can also raise funds for your brick and mortal business via the internet. There are so many things you can do online to raise funds.

Get an employment

You can also get job to raise funds for your business instead of borrowing or waiting for someone to help you. All you have to do is to do is to simply mange your finances and keep aside particular percentage every month.

You will also have to give yourself a target of how long you want to take to raise the fund needed for the business. You can give yourself a target for 2 years to raise the required fund for the said business.

Visit development bank

Development banks do not charge as much interest rate as other banks. In actual fact, you can also get fund for your business. Many of these development banks have programs in place that can help fund small and medium scale businesses. Examples of such banks are Agricultural Bank and Bank of Industry.

One other thing that makes them helpful is that they do not ask you for collateral in order to give you the required loan for your business. Microfinance banks too are helpful too. Some of them give loans to small scale business and they allow you to make repayment over a given period of time.

Most of the time, they too do not ask for collateral to give you the loan required to establish this business. Bank loan too is yet another means of raising funds for your business. The only problem is that banks always ask for collateral. You can approach these banks if you have collateral you can present for the loan.

Source: http://wakanda.ng/raise-money-business-nigeria/

CarlosTheJackal:
Lauretta that couldn't get a husband for the past 53 years has an opinion.


She is a disgrace to Ubulu Ukwu people in Delta state

Jesus! this is savagery lalasticlala

hehehehe. this woman got no chills!

Lauretta Onochie said this on twitter while reminding Bayelsa state indigenes that President Buhari is carrying out some road projects in their state. Read what she wrote below...

http://wakanda.ng/bayelsa-state-produced-worst-president-history-nigeria-lauretta-onochie/

Liverpool squad have returned home after their heartbreaking 3-1 defeat in the Champions League final to Real Madrid on Saturday

The team landed at John Lennon airport on Sunday morning just hours after the final tournament took place at the Olympic Stadium in Kiev, Ukraine.

Goalkeeper Karius hides his face as Liverpool return home after heartbreaking Champions League final loss to Real Madrid (Photos)

Goalkeeper Loris Karius, who made two costly errors that gifted Madrid two of their three goals, was pictured hiding his face as he walked onto the airport runway.

Also spotted at the airport was Liverpool and Egyptian star Mohammed Salah, who had to be substituted in the 26 minutes of the game following a tussle with Madrid captain Sergio Ramos that saw him dislocated his shoulder.

See more photos below.

http://wakanda.ng/goalkeeper-karius-hides-face-liverpool-return-home-heartbreaking-champions-league-final-loss-real-madrid-photos/

cc: lalasticlala, honeric01, semid4lyfe

This is very informative.
Thanks Op for sharing with us.

Lalasticlala mynd44, why is this educative thread not on FP pls??

Help nigerian students to see this and not bbnaija!

InansBobo:
Nice one, I love it. which of then do you see as simple/not well know.
if possible, which are the five that you won??

?

mndayebo:
which website do u recommend I visit frequently to get scholarship updates?

Answers pls?

Join us in this thread pls:

https://www.nairaland.com/4397388/tricyle-business-nigeria-nitty-gritty

dominique:
Continue please

Many thanks ma'am.
I will finish up the post today.

Thanks alot for helping out.

Good day NLanders, thank God it's weekend!

Sequel to my contributions on this thread:

the mails and questions I got therefrom, I think it will be beneficial to discuss this business extensively here.

Therefore, the purpose of this thread is to, among other things,
provide insight and useful guide/tips to every prospective investor in the tricycle business.

As a rule, I will lay out the general overview of the business, the
risk factors, profits/income margins, mistakes and secrets I learnt the hard way when I ventured into the business in 2016.
I would expect questions and contributions from you too.

At the end, those who find the business worth doing can do so in their various locations after assessing the inherent risks and profits.
Again, because of my offline engagements, I may not always be online to answer every single question but be assured that none of your questions will be unanswered in more than 24hrs.

Finally, I would like us to have all our discussions here so that
everyone can learn from the process and be properly equipped for the business wherever you are.


TOPICS:
1. General overview of the business.
2. Capital
3. Different ways of doing Tricycle business
4. Risks assessment and management.
5. Profit/Income
6. Finding and dealing with operators - Best practices
7. Business expansion
8. Sample Executed Agreement.
9. My experience in the business from 2016 to date.

Please note that I will be as brief as possible but I won't miss the
salient points.
I welcome questions as we progress!

DISCLAIMER: Everything I will discuss here is from my experience in the business in my location and therefore doesn't warrant that there
will not be variations in prices, capital, income and risks as these issues are mainly influenced by location.

CC:
Mikeblize 12submarine Singlecliq ChrisTeck fantasy7800 Babalakin

kindly indicate your interest in the topic so I can commence the discussion.
I will start when I get up to 5 comments/indications

nwankwochidi5@gmail.com

Good morning NLanders!

Sequel to my contributions on this thread: https://www.nairaland.com/4328859/what-secure-business-invest-2million
and
the mails and questions I got therefrom, I think it will be beneficial
to discuss this business extensively here.

Therefore, the purpose of this thread is to, among other things,
provide insight and useful guide/tips to every prospective investor in
this business.

As a rule, I will lay out the general overview of the business, the
risk factors, profits/income margins, mistakes and secrets I learnt
the hard way when I ventured into the business in 2016.
I would expect questions and contributions from you too.

At the end, those who find the business worth doing can do so in their
various locations after assessing the inherent risks and profits.
Again, because of my offline engagements, I may not always be online
to answer every single question but be assured that none of your
questions will be unanswered in more than 24hrs.

Finally, I would like us to have all our discussions here so that
everyone can learn from the process and be properly equipped for the
business wherever you are.


TOPICS:
1. General overview of the business.
2. Capital
3. Different ways of doing Tricycle business
4. Risks assessment and management.
5. Profit/Income
6. Finding and dealing with operators - Best practices
7. Business expansion
8. Sample Executed Agreement.
9. My experience in the business from 2016 to date.

Please note that because of time constraints, I will be as brief as possible but I won't miss the
salient points.
I welcome questions as we progress!

DISCLAIMER: Everything I will discuss here is from my experience in
the business in my location and therefore doesn't warrant that there
will not be variations in prices, capital, income and risks as these
issues are mainly influenced by location.

CC:
Mikeblize 12submarine Singlecliq ChrisTeck fantasy7800 Babalakin

Nnn@gmail.com

fantasy7800:
I'm quite interested in this business but don't have the time to manage it.
What is the name of this third party company?
Where are they located?
How do they operate?

Hello bro, the name is His grace Ventures ltd. They are into transport business generally, both sales and management.
they are based in two states in the east and they charge 100,000 per tricycle management.

That is, if the hire purchase agreement is 1.3m, you will get 1.2m at the end.

It's their job to get the operators, manage them with their resources and make weekly payment of the agreed sum to your chosen bank account according to your signed agreement with them.
As a tip: remember anything you get as returns depends on your agreement with them, you should learn to negotiate well to get good returns weekly.

The beauty of this process is that you don't invest your time or attention.

jaychubi:
very good on paper but the major challenges are:
1. you will struggle to get a trustworthy operator, most operators are wicked and will frustrate you
2. 15k weekly is unrealistic
3. double of 650k ie 1.3m is unrealistic
4. the whole investment can hit a rock if there is accident or the operator disappears with the keke and probably sell it at give away via OLX
5. with fuel at 195 naira it will be hard to deliver more than 10k weekly

Respond with practical not theoretical insights

Hello bro, I think in every business, there will always be people who give excuses and reasons why it will never work but there will always be people who will make it work and learn to keep doing so.
That's essentially why every business has failed and successful people alike.

ON POINT 1:
I gave you two means of getting trusted operators without hassles. I presume you didn't even see or read it bc your mind was already made up about the business. Never close your mind to new ideas. Anything that didn't work yesterday may work today with reformations.


ON POINT 2:
15k unrealiatic? Seriously? Most operators make btw 24k to 30k per week sir.
Simple solution: stop any tricycle operator in any state capital in nigeria and ask them how much they make per week and how much they account to owner.
Do you even know that those doing daily pay account N2,500/day?
2500x7 = 17,500.
There are more secrets to profits in this business that you don't know and may never know if you close your mind.


ON POINT 3:
It's surprising to you bc you aren't part of the system.
Every hire purchase agreement is made double of the property purchase price or more.
Hire purchase in law, is an agreement to hire with an option to sell upon completion of payment sir.
Simple solution: stop any tricycle operator in your area and ask. You will be shocked that some are operating at 1.4m rate as against the 1.3m you said is unrealiatic.

ON POINT 4:
well, every business has a risk and those who take it in a caculated form make gains.
If we refuse to venture into a business bc of the inherent risks, then we may never do any bc all businesses have risks attached to them. This is why i always advise those afraid of taking calculated risk to please get a job.
Business in Nigeria generally, isn't for the faint hearted.
However, in this particular business, the operator handles the tricycle with utmost care bc he knows that it will become his own one day.
So he doesn't drive anyhow as to be involved in accident that will totally damage the tricycle beyond repairs.
I even wonder the kind of accident that will cause such damage.

Again, if you follow the two ways I gave you on getting trusted operators, you will never have to worry about the operator running away or selling the subject matter of the agreement.

ON POINT 5:
Fueling isn't your job but that of the operators.
There was a time my operators in a particular state bought fuel at 250/litre during last xmas period and they were still paying me 15k/week. In fact, one of them was returning 18k that period.
Do you know why??
Bc increase in fuel price means increase in the fares they charge people and that translates to more money for them.
Do you know that those in transport business usually pray for fuel price to increase?? I bet you never knew.
They make more money in the period of increase my dear.

Like i said before, every business has secrets and risks and no business is perfect.
It's your job to make it work by learning from those who have done it before you. That's how you succeed.
I truly wished I had all the time i need to always be online for explanations. If you have further questions, drop them here, I will respond as soon as I can.

Enjoy your day today.

Singlecliq:
Do appreciate your input. However, I want to start this biz too, can I get the agreement sample from you?

Okay, I will make that available soon

12submarine:
Very sincere advice. God bless you bro. The nitty-gritty and trust issues is now left for anyone interested, you have done the major work here. I have been following this thread with the hope of getting something like this. You have just done something very important for willing investors, yours sincerely inclusive.

Welcome bro.

On the issue of dealing with trust, I will give you two ways we handle it.

1. There is a third part company here that handles recruitememt of operators for people and use their own process to ensure you always get paid. In this case, your contract is with the company not the operator. Whatever means they use to control their operators isn't your business, all you need is to get your money regularly as agreed. I know many people who use their services.

However, I don't use them bc i have my own way.

2. You can set things in motion yourself.
This is the process i use.
Firstly, I will get locals who are interested, we discuss the hire purchase price and agree to weekly payments.
I will follow you to your place and know your parents or guardians.
We will proceed to draft the agreement through a lawyer and the operator will bring two guarantors who must have known office or viable means of income.
I will take the operator to a divisional police station where my friend is the DPO and he will sign as a witness and inform the operator that he will swiftly move-in on him if he tries nonsense of non payment as agreed.

Finally and most importantly, the operator will deposit at least two weeks money(30k) as initial deposit and our agreement will expressly state that any week he fails to pay, he will lose the initial deposit and all other deposits and I will be entitled to collect my tricycle too.

The bottom line is: operators are controlled with fear.
It's not as if all of them will have the intention to do bad even without these agreements but you must take precautions.

Ask more questions here if you have any.

good day OP, you didnt state your target investment location.

Anyway, as someone experienced in the field by virtue of my investments therein, I will advise you go into transport business, Precisely tricycles.
I personally have this investment, it has 100% ROI and it does not require your presence at all if you know how it's done.

Let's do the maths: 2million can buy 3 tricycles @650k each.

Now, you enter into a hire purchase agreement drafted and executed by a lawyer with the operators. Hire purchase makes the operator pay you double of the purchase price through payments in weekly or monthly installments. Once he completes the payment, the tricycle becomes his own and your contract comes to an end.
I will explain the process of getting trusted operators and how you can keep them in check effortlessly if you permit me. There is also a sure way to ensure no default of weekly or monthly payments at all.
your own is just to receive alerts on the agreed day of the week.

Now on returns:
operators pay me N15,000 each every Monday as contained in our agreement. These payments are made to my chosen bank account.
now in your case, 15000 x 3 = 45,000.
In a month, N45,000 x4 =180,000.


That's the unfailing monthly return you will be getting per month. It may be small but atleast, it is sure!
Please note that cost of maintenance and fueling is entirely on the operator.

I have a friend who started with just 2 tricycles, today, he owns 13 and still counting. you can calculate his weekly earning.
He was the one who introduced me to the business and taught me all the secrets.

Also, no matter whatever you choose to do with your fund, never ever allow it waste in banks. I hate the idea of saving money in banks.
money is like electric current and it must flow/circulate to maintain it's value.

Finally, if you find the transport business interesting, do not PM me.
ASK ME WHATEVER YOU NEED HERE. No mails pls

rasaquadri:
it is luck bro what if you applied and you are not invited for the exams

There is no luck in this process, there is diligence. If you are eligible, follow the instructions to the letter and apply on time, you will be invited for interview/exam.
In my undergraduate days, I wrote 14 scholarship exams aside interviews, winning only 5 of them was not even good enough for me.
That you don't know how it is done doesn't make it impossible, that you don't know the secrets doesn't make it unachievable, that you haven't succeeded doesn't mean that does who did only did so on luck. There are things they are doing that you aren't.
Did you mean to say you are unlucky?

let's not always dash things to luck, there is a place for diligence on our part.

wow

webincomeplus:
$600 my foot. Na soo...With your forum spamming strategy, right?

Share your tips with us brother