₦airaland Forum

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The Pan-Atlantic University is located in Lagos, Nigeria. It is most famous for its world renowned business school, the Lagos Business School (LBS).

The Pan-Atlantic University - Lagos Business School's Executive-MBA programme is ranked as the best in Africa by The Economist in its Executive MBA (EMBA) rankings (link below). It was the only African university to make the list of the 65 top Executive MBA programmes in the world, where it ranked 48th position, surpassing the business schools of the University of Pittsburgh, University of Wisconsin, University of Melbourne in Australia, University of Florida and the Copenhagen Business School.

Link to the ranking:
https://www.economist.com/whichmba/executive-mba-ranking/2018

Its was also ranked as a "Band C" Business School, putting it in the same class as popular schools like the IE Business School in Spain, the UCLA (University of California, Los Angeles) - Anderson School of Management in the US, the Imperial College Business School in London, the Pennsylvania State University – Smeal College of Business in the US, the Columbia Business School in the US, University of California at Irvine – Paul Merage School of Business, New York University – Leonard N Stern School of Business, University of Notre Dame –Mendoza College of Business, University of California, San Diego– Rady School of Management, University of Texas at Austin –McCombs School of Business and the National University of Singapore –The NUS Business School which we're all also ranked as "Band-C" schools.

https://www.economist.com/whichmba/executive-mba-ranking/2018

Well, I no longer practice medicine. Practiced for a few years before going into business and haven't looked back since then as business has been doing excellently well, easily out-matching whatever benefits I can get from practicing in the UK or Canada or wherever.

However, I always find time, at least every month, to donate my medical skills as a way to give back to the society, to the country that gave me such a valuable degree at almost no cost. Nigeria subsidized my medical training, I got my medical degree for less than $100 a year compared to my counterparts abroad who had to cough out tens to hundreds of thousands of dollars or get themselves neck deep in debt or pay over half their income in taxes just to get an MBBS, and I will forever be grateful for that.

As things currently are, Nigeria is just spending huge amounts of money subsidizing the healthcare systems of other countries with cheap manpower, especially the UK's NHS.

Medical education is expensive. That's why as rich as the UK is, they rather snatch doctors from other poorer countries rather than establish more medical schools for their citizens to fill in their shortage of medical professionals. Nigeria does the heavy spending by subsidizing medical training and then looses it all to other countries, effectively subsidizing those countries.

Nigeria has to realize this. Anyone who wants to attend government subsidized medical schools should either be made pay the real cost of their training or should sign bond agreements to serve the country for an agreed number of years before leaving to anywhere. Anyone not okay with this, should attend a private university or go and school abroad. You can't pay $100 a year as tuition and expect to earn US or UK salary in Nigeria. Yes, the Nigerian government has its own faults especially with the state of the public health sector but honestly speaking, my Nigerian medical counterparts are also too arrogant, expecting to be paid dollars and pounds in Nigeria.

Hi Everyone
Goodday
Please, I need help on this issue.

A relative of mine is currently studying medicine in a state university. She's in the middle of her 4th year now, but still officially in 300l and yet to write her 1st MB exam. The problem is that the school is too slow with frequent accreditation problems that have caused a backlog of classes (400lA-C, 500l A-C, 600l A and B). With these delays coupled with the current coronavirus pandemic, the projection for their class now is that the earliest they can graduate is 2025 (someone that's supposed to graduate in 2022 if it's 6 years)

We are wondering if it's possible for her to transfer to another school immediately after she writes her 1st MB exam here and join the 300l second semester/ 400l class over there and complete her programme in 6 years, or at most 7 years. Please, does anyone know which medical schools can accept such a transfer (I did a little research online, and most said the highest transfer they accept is to start 200l). More advice on this issue will be appreciated.

Thanks.

Kristofferson:
Hello Nairalanders!!!

Lately i have been seeing people online arguing about Nigeria being the best on planet earth and abroad a shit-hole where they don't have freedom to do whatever they like and things are costly with popo wahala and all that. Some even go to the extent of saying Nigerians are accommodating and lovely unlike abroad.

So my question is, in your own humble, honest opinion; which do you think it's the best? Nigeria or Abroad(Europe, America, Australia etc) and give us the reasons why you think so as a foreigner there that have tasted the both. You might be saving a life here especially people on the brink of making a choice between traveling and sticking to Nigeria after this coronavirus Pandemic is over.

Please no insult. Let's be mature in our individual options.

Thanks

It depends. If you are struggling in Nigeria and get the opportunity to go abroad legally, you should take it. But if you are doing well in Nigeria, with a good business, please stay and continue to grow that business. You're most likely doing far better than many of those abroad. If you plan to become rich and make a huge impact in society, Nigeria is for you, but if you just want to live a normal life shuttling between home to work, then abroad is for you. Nigeria is an untapped, uncultivated, dirty brown field without an owner which you can own by cultivating and maintaining it. Abroad is a clean, well-maintained green field with an owner. If you're going there, you're going to there to work for the owner.

My family and I for example have decided to remain in Nigeria. I cannot just imagine myself living permanently abroad. Business is doing well and is growing everyday, and we should leave it to go abroad? For what?. We can go abroad for vacations for a week or two, but after that, we will surely return home to our wonderful country. The children will attend good primary and secondary schools in Nigeria, then go abroad for tertiary education and then return to Nigeria to continue and expand the family business and even start up something of their own.

So if Nigeria has been kind to you, please stay. If Nigeria has shown you pepper, please leave if you can.

Nigeria is paradise to some, and hell to others.
Abroad is paradise to some, and also hell to others. Yes, there are people trying all they can to run away from that country you're running to.

Also, do not be ashamed to return if you travel abroad and eventually find out that your condition there is worse than when you were in Nigeria.

spyder880:
No, it cannot be calculated like that. When we talk of a high rise like a 9 storey building, a lot of other consideration comes into play. The method of construction, materials, and especially the plans needs to change to support the height of the structure. It might be much more than the amount you mentioned.

OK. Thank you Sir for the reply. I really appreciate it.

But do you have any idea how much such a structure would cost to complete? Just a rough estimate. 100M, 150M, 200M, 250M?

spyder880:
This is how the house will look after full completion till painting level.

Goodday Sir
Let me begin by thanking you for the good work you've been doing on nairaland all this while. May God continue to bless the works of your hands.

Please, I'll really appreciate if I can have an estimate, an idea of how much it'll cost to complete a 9- storey version of this project i.e. 20 units of 2 bedroom flats, with 2 units per floor.

Going by your budget estimate of this project on the first page (N18M) which is N6M per floor, will it be wise to put the budget estimate for the 9 storey version at N60M (N6M per floor multiplied by 10 floors)?


Thanks in anticipation of your reply.

kkonsults:
Stay tuned for more updates

Good Afternoon Sir
Please, can we have an idea of the budget of this project, and the floor dimensions of the hall.
Thanks.

Rubbish
Banks are private businesses which depend on performance to make profit to pay their staff, not government agencies which do nothing and receive allocation at the end of the month.

They want to infest the performance-driven private banking sector with their useless, unproductive, redundant and incompetent civil service attitude.

So if staff are misbehaving or unable to meet performance target, the bank can't sack them? They should keep paying incompetent and unproductive staff?

Rubbish
I trust the banks will fight this or it will just be another paper law that wouldn't be enforced.

Anyone who can't perform should be booted out.
If the bank can't pay you any longer, then it's better you're sacked than to keep you and be owing you salary for months while tarnishing their reputation.

In fact, the government civil service should be copying these banks. Every month, there should be Performance Review for in all government offices for all staff. Anyone unable to perform should be sanctioned and if he/she continues, should be booted out and more productive people employed.

No wonder they like government work, where they earn money without adding value, where they enter office by 10am, gist with their colleagues till 12pm while using their non-chalant attitude to frustrate the people their supposed to provide services to, then sleep till 2pm when they'll begin packing their bags to leave before 4pm. And at the end of the month, office will receive allocation and staff will receive salary for doing nothing. I've always said, the Nigerian Civil Service is the largest welfare scheme in this country, where free money is shared to unproductive people.

EvilPOTATO:
Let me first say an average provision store doesn't sell provision alone. So with this in mind...
Total Sales Depends on the location and kind of purchase(buying in bulk) you make yourself ... If your shop is located in a place where there are less competition, you could be making a sales of 16k in a day ( I mean total sales in a day). This 16k range sales happens between 29th to 11th of every month throughout the year except December. December's high sales is through out that month.
Other days of the month you could make 7k or 8k (excluding people that will come and buy on credit)

The gain on a provision store is always very high at the start of the first 3 years. In order to make alot of gain, you have to buy all your items in bulk. On average, you could make a sale of 6 to 7k in a day

Thank you so much. Really appreciate. It was very helpful.

More inputs from more people are welcome.

Muhylonaire:
Fact
But then, if there are working institutions in place, it will definitely reduce.

And who will man those working institutions, is it not the same corrupt Nigerians?

Nigerians sef

Someone asks which is a better company between the two and many are talking about Mercedes been better because it's more luxurious. The question is which is a better company, not which produces better cars.

The purpose of a company is to produce profit for it's shareholders. So the better company is the one that produces better profit for shareholders.

In 2019, Toyota had an annual revenue of $270.9Bn and a profit of $22.3Bn. Profit represented 8.23% of revenue

In the same year, Daimler, the parent company of Mercedes, posted a revenue of $181Bn with a profit of $2.9Bn. Profit reperesnted 1.6% of revenue.

From this, it's very clear Daimler (Mercedes) is a struggling company and Toyota is the far better company offering far better value to its shareholders.

Toyota also has a bigger brand value and market capitalization than Mercedes/Daimler. So you might say Mercedes vehicles are better then Toyota vehicles, but in terms of being a company, Daimler is not Toyota's mate.

Goodday everyone.

Please, I'm doing research about a retail business project I'm about
to embark on.

I need to have an idea of the revenue (total sales) the average
Nigerian shop selling provisions and everyday items in an average
city makes per day/week/month.

I'll appreciate the inputs of people who operate such shops or have
access to those who do. I just need an estimate of the amount daily,
weekly or monthly.

Thanks.

Goodday everyone.

Please, I'm doing research about a retail business project I'm about to embark on.

I need to have an idea of the revenue (total sales) the average Nigerian shop selling provisions and everyday items in an average city makes per day/week/month.

I'll appreciate the inputs of people who operate such shops or have access to those who do. I just need an estimate of the amount daily, weekly or monthly.

Thanks.

RIP Alex

The Nigerian Dental Association also released a statement concerning the issue

.

Continues

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Alex, a student of Federal University, Gombe State visited a dentist at General Hospital, Gombe. When he got there, the dental surgeon in-charge wasn't around as he was on official leave. The Lab technician then decided to step in and do the job of the dental surgeon, and in the process, administered a wrong injection, in a wrong procedure which ultimately killed the patient.

In the video circulating social media, Alex is seen going into a violent seizure immediately after the wrong injection was administered by the Lab technician.

Viewer's Discretion

Yesterday, this video of Alex having a violent reaction to an injection surfaced. Rest in Peace Alex.

Some people had no idea what happened which led to a lot of different takes.

Here are a few things you should know

A Thread pic.twitter.com/yKTxQP7Iy5

— Aproko Doctor Global (@aproko_doctor) January 31, 2020

Rubbish

Firstly, I do not support owing employees salaries. Salaries should always be paid when due as specified in the employment contract. If for some reason, you can't afford the salaries at that particular time, inform the employees of the situation, explain to them and an understanding should be reached.

I will however talk about the so-called 'Peanut Salary'. What exactly is peanut salary?. Were you not informed of the salary before taking the job?. If the salary is too small for you, then the solution is simple, don't take the job. If you've already taken it, then resign, abi did they tie your hands and legs.

Salary is determined by productivity and market-value. You cannot be producing N4000 and be expecting to be paid N10,000.

Demand and supply of labour must also be put into consideration. When demand of labour is higher then the supply, wages are high, but when demand of labour is less than supply, wages are low.

You don't expect an employer to pay N1,000,000 when others are willing to take less. Will you buy a bag of rice at N200,000 when the near-by store is selling the same bag of rice and the same quality at N50,000. Never. So why do you expect employers to do otherwise. The same way an employee will not stay with an employer paying him N100,000 when another employer is willing to pay him N900,000.

Some companies honestly can't pay better. How can you expect a school in one small, interior town, that collects school fees of N6000 per term to be paying salary of N50,000 per month to teachers.

If you're not happy with salary you're offered, then don't accept the job or resign. If you're worth more than that salary, you will surely see other employees willing to pay your more than what you were paid before. If I offer salary of N40,000 per month, and no-one takes the job, I will be forced to increase the salary in order to fill the vacancy. You can also choose to start your own business and begin paying water-melon salaries instead and we'll see how long you'll stay afloat.

Let's also not forget how lazy and wicked Nigerian employees are. They are ready to ruin your business with fraud at the slightest opportunity. All they do is to steal your money. That is why Nigerian employees coined the phrase "Na where person dey work, na there e dey chop, na e make them dey callam work-chop (workshop)" as a way to justify their fraudulent character. Money that is supposed to be used to sustain and expand the business and even provide better packages for the staff will then have to be used to employ extra-staff to monitor each other, biometric scanners, CCTV cameras and other things that are not supposed to be needed, just to monitor staff to avoid fraud.

Start a poultry and they will be stealing your eggs. Some will even go ahead to be killing the chickens so that they'll be allowed to take them home.

Start an entertainment/viewing/game center and they'll be pocketing your money. On the days you're around at the business, the money realized will be x10 of the money realized when you're not around. Because they're eating your money.

Lease out a vehicle to a driver to use and watch as he'll finish you.

Start a restaurant, the same thing will happen. More than half of the total food ingredients will end up in their personal kitchens.

Even ordinary provisions shop, they will find a way to steal.

The major problem of doing business in this country isn't power or infrastructure, it's finding honest and competent manpower. The average Nigerian employee is waiting to steal from you. The ones in management positions will not only be stealing but will be hiring incompetent staff solely because they are his friends, relatives or church members. That's why I don't blame companies who hire expatriates like Indians and Lebanese for sensitive positions like Finance and Accounting even when we have qualified Nigerians.

Some people have money to do business in this country but they don't have time for it. They'll have employed staff to manage it, but they can't do that because there are no trustworthy staff in Nigeria, so they abandon the idea, and rather invest their money in treasury bills and fixed deposit accounts. And later, they'll be complaining they there are no jobs when they are killing all the businesses with their evil character.

Let's not forget their rude attitude that they'll use to drive all your customers away, just like they exhibit in government offices.

That's why they like government work, where they're allowed to be lazy and to steal. Where they can get money without adding any value. Where they can steal, where they can come to work by 10pm, gist till 12pm, sleep till 3pm and spend the next hour preparing to leave by 4pm. And they'll go home and tell people they went to work. That is why our government agencies are not working, that is why our government corporations like NNPC and others are not working. That is why we say Nigerian government cannot run business. Any private company that allows such will fail like Nigerian government agencies and corporations have failed.

If you think your salary is Peanut Salary, then quit and sart your own business and be paying water-melon salaries. By the time you crumble, you'll start blaming Buhari.

Peanut salary ke, paw-paw salary ni.
Resign and start your own.

donproject:
Minimum wage has always been gateway to inflation in Nigeria's economy. Checking chronology pattern of minimum wage and inflation duet, one will see that there is this one-one correspondence and dependency between the two, one greatly effects another.

Solution to workers financial problems is by no means upward review of minimum wage, but by total price control of goods and services. Higher minimum wage means more cash, less value that legal tenders possess and constant market evaluation. Things will always balance up to remain as it was before. What N10 will buy 10years ago, N100 will buy it this present day, so what is the point?

Very insightful post.
It's exactly what I've been telling people. Inflation will cancel out the increase.

But isn't there any other solution apart from price controls. I believe we should be trying to further free up the economy instead of putting on tighter socialist regulations like price controls.

KingAzubuike:
And many of them don't know anything but they keep saying nonsense thinking they are sensible.

That's how one was saying Israel is more advanced than China

Lol
Don't mind those ones
They're talking strictly based on religion and myths and not facts

Kalixx:
Nigeria is as poor as sh*t.

You talk about potentials of human capital?

Whether a human's brain works or not, one thing is sure -- his belly would work.

There are so many hungry individuals in this country that are at the same time unproductive -- chiefly because of ignorance, lack of education and tools. They can't create value.

Even the graduates, what can they produce? Yes, what if there are no employers whatsoever? No govt jobs, no private jobs. How do these graduates create value then? Employers, government are in the end, human beings -- and there has to be a strong shift in orientation in order to bring awareness and knowledge to school leavers and graduates to create employment, even if slipshod. There also has to be a balance of goods produced and services. Nowadays, everybody is saying 'Teach me freelancing'. If everyone is an online freelancer, who's producing goods? Reliance on importation would keep dragging us back. We have to think of systemic and the most cost-effective ways to produce the most, with the least efforts. Until then, poverty would ravage this country from pole to pole.

Many literates still view wealth as piece of paper called money, but if that were so they should travel down to Mozambique where they will earn 10 million mozambique dollars and it wont be able to afford toilet roll. We as a nation have very very poor understanding of money, societal structures, wealth creation, factors of production, global trade and economics.

That is why a fresh graduate by default begins to think of a system he can quickly plug himself just to make money and have a roof over his head. This money and economic illiteracy is the reason why we fail so miserably in properly evaluating state leadership and the performance of our rulers by and large.

I have deliberately decided to skip the ubiquitous illiteracy and regressive Northern section of the country, parochial approach to all and sundry and sentimental adoption of religion, even though this is the crucial amplifier to this nation's distress.

But if truly Nigeria would be saved, the south has to play a major role especially in two things: value and education from the very grassroots. And then, that education should beam serious focus on two subjects: history and economics. Schools dont teach economics well enough. Its the most important subject.

Very insightful post, especially the economics part. I'm of the opinion that Economics should be made a compulsory subject along with English and Mathematics. It's just too important.

grandstar:
Ghosn should be dashed one as retirement benefit if he escapes jail

Actually I feel a bit sorry for the man but it is his fault!

Lol.... I guess he'll be given one now. He just escaped Japan to Lebanon.