After more than 10 years sojourn in the UK, I am now preparing to move back to Naija to run my own business.

On the personal expense side, what are the expected approximate costs involved e.g. House Rent, Car, Generator, shipping of personal effects from UK? I need to establish a personal budget, so as not to use business funds for personal expenses and vice-versa.

I would like to rent in Dolphin estate Ikoyi. My preferred car would be a Toyota Prado or similar, Generator would be 20kva. I imagine there are more items of expense to consider. Your anticipated input is therefore very much appreciated. Thanks guys.

dats a huge budget You've got. housing in Dolphin is on the higher side i would advice u try other parts my lekki.

Thanks. However, I find dolphin to be a lot more accessible than Lekki area. I am aware that rents have dropped significantly in recent months.

Are there some other hidden expenses that await me? e.g. Diesel costs

there are other critical factors.
where would your buz be located?
do you have a partner?if yes, where would her office be if she is working?
try and find a location that suits all these and also satisfies your taste.

@poster, I think you may need to stay some more in the UK. as one threader noted, buying a prado jeep sure would not be the right move for one who plans on renting. You should buy and build, if you can, unless the budget is smaller.


Also, I was totally unaware of the drop in rental cost. I invest in real estate in Nigeria and was unaware of that. You must have an insider there, hehehe

Please visit the property session to get a feel of what rent goes for, please.

what kind of business do you want to establish in nigeria ? what is your field ? are you in IT ?

I dont think there is any drop in rents ooo, I stand to be corrected.

why you no kuku buy or build your own house before relocating.

a

A prado jeep, what the hell are you gonna use a 20kva generator for? (Unless its for the Biz), well my candid opinion, depending on the kind of biz u intend going into, i suggest you should set money aside for it, and whatever remains should be used to settle down.

I'd say Chaircover's given the best advice you're likely to get on here, I'd think very carefully about relocating, if I was you.

u'll need 50 million, a matchet and open eyes

good to see ppl wanna come back home

wazobia-ng:

u'll need 50 million, a matchet and open eyes

lol.

chaircover:

I am not being funny but something tells me that you are not quite ready yet. You are just fed up with UK life and feel a little homesick. Trust me I am sure that we all feel like that from time to time.

Ask me why, I say this; you are more interested in your luxury than anything else.

I hear about living in a high brow area, driving a nice car and buying a Gen powerful enough to light up yours and next doors property.

I don't hear anything about your business rates, business premises, staff wages, staff recruitment, advertising costs, business registration, healthcare, security, taxes etc. I am not sure if you have kids but if you do then schools, books, childcare etc. These are the important things to consider when relocation & not the prado jeep. After all it is the business that is going to sustain you when you relocate, so this should be your top priority.

You also don't have a property of your own; (well I am assuming so since you want to go and rent) most people who relocate usually have a property no matter how small so at least they are not at the mercy of one landlord. Even if you rent out the boys quarters, it means you have a steady even if small amount of income coming in yearly.

My brother please do your homework very well before you get on that plane and if you do have a property here in the UK please please please do not sell it to fund your relocation to Nigeria.

^^^
The above here is a very good outlook. I totally agree with what Chaircover has said.
Also, have you tried going back for initial 'long' stay visits before packing your bags and running for the hills? Can I presume that your business is already off and running (well, running to the best capabilities without you needing to be on the ground).
Bros, before you know it, living costs will outstrip 'business' cost,

Dear Poster, ignore the haters, I have just relocated back to Nigeria after living in UK for 20 years and I live in Dolphin.
Rent for semi detached duplex not more than N4 million, gen N2 million, get two cars, you can finance them for about N100k a month, last last, if you enter with N8 - N12 mill you will settled for the first 2 years. (will £1300 pcm get a 4/5 bed house in central London?)

There is sooo much money to earn in Nigeria, the market is vast (I am NOT including political patronage, which many Nigerians think is the only way to make money) but real grassroot businesses.

However if you have not already done so I suggest you visit a few times to acclimatise before moving finally.

I also suggest you maintain your links with UK for medical reasons, no amount of money in Nigeria or many other countries can help when you have medical problems.

Best of Luck, let's us know how you get on.

wazobia-ng:

u'll need 50 million, a matchet and open eyes

   

Dear Poster, ignore the haters, I have just relocated back to Nigeria after living in UK for 20 years and I live in Dolphin.
Rent for semi detached duplex not more than N4 million, gen N2 million, get two cars, you can finance them for about N100k a month, last last, if you enter with N8 - N12 mill you will settled for the first 2 years. (will £1300 pcm get a 4/5 bed house in central London?)

There is sooo much money to earn in Nigeria, the market is vast (I am NOT including political patronage, which many Nigerians think is the only way to make money) but real grassroot businesses.

However if you have not already done so I suggest you visit a few times to acclimatise before moving finally.

I also suggest you maintain your links with UK for medical reasons, no amount of money in Nigeria or many other countries can help when you have medical problems.

Best of Luck, let's us know how you get on.

Very positive response. The proverbial half-full vs. half-empty disposition.

@ topic,

You didn't say why you want to return home but like Chaircover said get your priorities right by getting the biz on track before keeping up with the Joneses.
I'd say take Chair's advice.

^^ - Rather than conclude poster has ill-conceived priorities, could it be that he already has the business-side covered?  I suspect that would be the  first consideration of a rational individual. Unless, offcourse, our poster isn't that rational

@poster

i agree with charicover but i dont agree with the part that you have to own your own home, its not compulsory to own your home you can equally rent. but you need to get your priorities right, eg. if after 2yrs will you still be able to keep up with the expenses as you are more concerned than luxury and comfortability than others.

I am relocating to niaja gradually, and i am currently renting on the mainland in a nice area and less expensive area as well. since. you will be renting bear in mind also that rent in lagos after the first 2yrs will most likely be increased by the landlord. think well. good luck.

faithin9ja:

Dear Poster, ignore the haters, I have just relocated back to Nigeria after living in UK for 20 years and I live in Dolphin.
Rent for semi detached duplex not more than N4 million, gen N2 million, get two cars, you can finance them for about N100k a month, last last, if you enter with N8 - N12 mill you will settled for the first 2 years. (will £1300 pcm get a 4/5 bed house in central London?)

There is sooo much money to earn in Nigeria, the market is vast (I am NOT including political patronage, which many Nigerians think is the only way to make money) but real grassroot businesses.

However if you have not already done so I suggest you visit a few times to acclimatise before moving finally.

I also suggest you maintain your links with UK for medical reasons, no amount of money in Nigeria or many other countries can help when you have medical problems.

Best of Luck, let's us know how you get on.

@faithin9ja,

No need for name calling and tagging the other divide ''haters''. Fine, you have similar experience that the young man seeks but it ain't out of place to insert a caveat about  prioritising and putting things in order before making the big leap. For all we know his biz might be different from yours and just because yours have taken off smoothly doesn't mean his will. I think you should stick with writing more of these '' However if you have not already done so I suggest you visit a few times to acclimatise before moving finally.

I also suggest you maintain your links with UK for medical reasons, no amount of money in Nigeria or many other countries can help when you have medical problems.
as advice.

DaddyO:

^^ - Rather than conclude poster has ill-conceived priorities, could it be that he already has the business-side covered? I suspect that would be the first consideration of a rational individual. Unless, offcourse, our poster isn't that rational

His tone of discourse bordered more on his comfy than in the biz. I hardly think advisers on the other divide would have asked him to prioritise if he'd stated_{the most important part of his relocating is arguably his biz} he had a biz running already and that it was time to come home and see to it. ^{with all the austerity measures and deficit running in Europe perhaps}. That way area of residence wouldn't have been a question because like Chaircover said you prioritize your area of stay first based on your office/biz location. This makes sense.

Buy a house rather than rent then come home stay for a while , like a survey tour, just to get STREET WISE, it wud be your greatest asset,

if you have your eec or stay i will advice
1st come and see things yourself,and see
may be you can cope with situation in
naija because things get worst everyday.
no light,security, to do business nah whala.

The way you are sounding, you don hammer, walahi! There is one important advice, you did not mention anything about security. My guy if you enter with that kind large life. You will be a target of kidnapping, make provisions for your personal security like OPC, BAKASSI, EGBESU etc, you can arrange for personal insurance if you need it. Its an advice, am not scaring you from Naija. All the same Nigerian is sweet.

@ faithin9ja

How long ago did you relocate FROM THE UK? working on mine as well after 10 years

@Vavavoom, I called them 'haters' because as I find with many Nigerians, we don't like our own country, always talking ourself down. See my tag Faith in 9ja!!!


The poster asked for advice regarding living arrangements not his business, but we seem to want to advice him on his business.

@newvision, it's taken me a year to settle and I am still settling down.

Please note Nigeria is not easy, there are many challenges but it is in the midst of these challenges that money can be made. There's a bad power supply so people are making money in solar power generation, there's poor water supply so people are making money in water pumping equipment, there is limited housing, so people are making money in building material. I say this just to highlight to other Nigerians, opportunities that exist within this great but difficult country.

But the poster asks for living conditions and we decide to highlight all the difficulties, am sure he is already aware of these challenges, but he (I presume it's a he) and other foreigners; Indians, Lebanese, Israelis, South Africans are coming to live in Nigeria, this same Nigeria that nairalanders continue to highlight the negatives.

Don't get me wrong, am not naive and I know the problems as much as any other Nigerian but I also know it is only we Nigerians that can do our little bit to improve the country. By coming back the poster will do his bit to help Nigeria, at least he will employ one or two people.