₦airaland Forum

emmanuelewumi:
Return of my money is more important

jobark:
The last two pages have been very thought provoking and insightful I must say, very interesting debate and solid points from both angles on this argument.

SeaTrade:
Of course I will do the new business,but will not stop the importation business,for "man no dey know" reasons.
I will use my extra funds to do it,not carry importation money and start blazing a new path and taking risks,before it blows up in my face.

SeaTrade:
You think I wasn't talking from experience?
So if you were importing a movable goods,you will stop because dollar go up or what?

emmanuelewumi:
Na street drink ooo, it is in high demand

SeaTrade:
They are not moving to real estate because importation is no longer profitable even with the devaluation.
They are moving because their capital have supercede their market share and they are now running the business with a whole lot excess money than it requires,hence the need to diversify.
Same reason I want to go into trucking,not because I no get business but because the investment don dey pass the selling power wella.
You start to experience storage space problems.
Too much debt your customers will owe you because you are looking for who you will dump the excess goods on and start pursuing for your money upandan.
Too much slow selling goods weh go tie your money cos of excess liquidity.
Too much spoilage cause storage go fill to the brim and hence your workers will have a field day damaging your goods with their legs(climbing of carton)
Too much envy!
Arm robbers go dey reason your matter steady cos your warehouse too full.
FIRS go say make you pay VAT.
wastage of time value of money buy running the business with excess capital which can't generate any more income as sales have cap,etc...

SeaTrade:
Depends on what you can import,
If you are a daredevil with better connect,bros that thing go be child's play ooo.
But let's play safe ,transport is a good sector as it always have demand, different unrelated clientele plus zero credit.
Devaluation can only dull your sales as an importer but usually the people that bare the brunt is the populace.
I am not even interested in import,na major[b] distributor work for a moving product [/b]I dey find now but everywhere seems to be saturated!

SeaTrade:
Depends on what you can import,
If you are a daredevil with better connect,bros that thing go be child's play ooo.
But let's play safe ,transport is a good sector as it always have demand, different unrelated clientele plus zero credit.
Devaluation can only dull your sales as an importer but usually the people that bare the brunt is the populace.
I am not even interested in import,na major distributor work for a moving product I dey find now but everywhere seems to be saturated!

SeaTrade:
Still poor!
With this you no fit recover your money in 2 years when you take away expenses,NURTW,local government and their bastard agbero!!
500k-600k/week makes more sense tbh...
If you want street jobs then don't buy brand new,all these 80s mack for 12m will do the job perfectly.
And the longer time it takes to recoup investment,the riskier it becomes cos these things have a penchant for rolling over and getting damaged!

emmanuelewumi:
No that easy to have jobs every time, there are weeks you won't get jobs

SeaTrade:
You see where the problem is?
Why should a person spend 30M+ to be chasing 350k monthly na haba!!!
When will the truck now balance up its investment?
I have been looking at some random figures yesterday and I noticed something.
Most people that have contract jobs for these things prefer HOWO.They always insist on HOWO or nothing.
2)I noticed they pay per tonnage,
I saw 15,000/ton from ogun to cross river.
So if a person buy a 40 ton HOWO truck brand new,it will cost like 38-40m.
So paying me 15k/ton implies the trip is 15k/ton×40ton carrying capacity=600k/trip.
And when coming back,they load some other thing to the base,meaning 1,2m/round trip.
According to data,2 round trips can be made weekly,meaning 4,8m/month gross.
Then go to expenses and so on,you find out that the truck can recoup its investment in 15-18months which isn't bad,provided it suffers no major damage which is unlikely since I will prefer to buy brand new abeg,I no get strength for old vehicles olorun!
Buy good insurance and I think by so doing a person have mitigated most of the risks.
Then the remaining problem now will be local government people and their useless agbero tax and NURTW wahala!
Then put tracker to monitor driver too thrn pay driver per trip.
But all these are just theory as I have no major experience in this.

emmanuelewumi:
At N30 million and above, it will take about 9 years to recover the money invested.

Please correct me if I am wrong

emmanuelewumi:
How much is the driver's salary? How much will he keep every month to take care of emergency and maintenance?

How much is the truck?

SeaTrade:
Lol like how much can it generate weekly?
Because to throwaway that kind big money to dey chase change no be am ooo.
As for ukwu,if free one no dey I go import

SeaTrade:
Hello chief,
Good evening.
Please say a friend of mine has made up his mind to buy a truck(Howo ) dumptruck for sand and gravel,
How much should he expect as weekly/monthly returns?
Which would you advise the person to buy?
Sand,trailer,or which?
I don't like tanker because I feel its market is limited?
Or is it?
Please help me out here,thank you.

OgogoroFreak:
You understand the whole thing but you quote my comment instead of that of the Buffoon JustforMen.

pizapato:
Please how does one go about fixing USD with FBN?

emmanuelewumi:
You are financially literate, if not the bank won't give you a loan.


Overdraft is good for business people, with turnover in their accounts. Interest will be calculated on the amount drawn down, when funds are in the account interest stops counting

emmanuelewumi:
That is how overdraft facility works, if you used your fixed deposit as a collateral you can get interest rate of 9% or below depending on what the bank is paying on your fixed deposit

emmanuelewumi:
That is how overdraft facility works, if you used your fixed deposit as a collateral you can get interest rate of 9% or below depending on what the bank is paying on your fixed deposit

emmanuelewumi:
What did you use as collateral?

I don't think 15% is high. It is a 6 months facility, that can be rolled over.

Assuming you got a loan of N1 million, you are expected to pay back the N1 million in 6 months and an interest of N75,000.

emmanuelewumi:
What did you use as collateral?

I don't think 15% is high. It is a 6 months facility, that can be rolled over.

Assuming you got a loan of N1 million, you are expected to pay back the N1 million in 6 months and an interest of N75,000.

emmanuelewumi:
Yes I have a Stockbroking account with them for the part 10 years, it was a subsidiary of GTB. Formerly known as GT Asset Management before they sold through Management Buyout due to CBN policy. I also have a money market fund Investment and guaranteed income Investment with them


I recently got a facility from the consumer finance subsidiary of United Capital at 15% per annum which is about the cheapest rate in town, the subsidiary is called UC Plus Advance limited.

I also do business with Stanbic IBTC Asset Management, FSDH Asset Management and FBN Asset Management.


You can confirm from all these organizations if I am paid to share my experience concerning their services.

As a matter of fact I don't have investment in any of the Finance houses, I only get loans and other credit facilities from them

Getting N10 loan from them is different from Investing my N10 with them

Tobex4realTobex234:
The wealth in the world is unevenly distributed. I agree with the concept of universal basic income, if not, the gap will continue to widen.

Educationalserv:
big brother has finally ended abi ? Now back to sadistic job of hating, envy,and jealously on treasury bill thread. I hope you can covert some of the dry few likes to money in your accounts .such a nusaince. argue with you key board .

Allboiz:
It seems transfer from one domiciliary account to another within in Nigeria is free. I did from Access to fcmb and no charge was removed.

Lazyyouth4u:
Akpu better pass that sacrificial offering wey you put there. Dem even put lime for the serious purging wey go hit the unlucky person wey chop that dirty sacrifice

Lazyyouth4u:
Wetin be this wey resemble sacrifice wey you post there you this village Uber Driver feeling funky?

emmanuelewumi:
Real Estate is the easiest, don't bother yourself about other areas