obainojazz:
I’ll invite you for house warming one day…. Both in Australia and Nigeria

You didn't answer my question, obainojazz.

joseph1832:
You didn't answer my question, obainojazz.

I answered your question…. Not just the question you seek

People said 20mil won’t make them japa, that it’s big… but 20mil is shit home and abroad.

No one is saying we buy houses 20mill abroad… so your question is null and void

obainojazz:
I answered your question…. Not just the question you seek

People said 20mil won’t make them japa, that it’s big… but 20mil is shit home and abroad.

No one is saying we buy houses 20mill abroad… so your question is null and void

You didn't read the part where I said if that 20mill is converted to the currency of the country you reside in, can it still buy/build you a house etc?

obainojazz:
I remember my friend investing Au$10K (4mill plus) to buy land last year in naija as investment… dude was pressuring me to think home say money Dey naija…Even if he sells that same land 7million, he still no make his AU$10K.
I get Don J though… Some factors like education and interest won’t allow you to japa… His uncle is doing well and probably didn’t start with 20mill.

The other thing is, if you have 20mill… young and educated… Japa is the biggest investment.
20Mill is what some personal income tax in one year…. That money won’t do much.
You can barely afford to build a house in a making sense environment, buy car, fuel the car and feed family.

joseph1832:
can you afford to do the emboldened in the country you reside, when the money is converted?

iamoyindamola:

Nigerians you mean

You get it.

donjazzet:


My uncle, my mother their last born, who resides in mushin is basically who I call king of small businesses. Earning from multiple small streams that basically became an ocean of millions per year.
He really mastered the art of making money from small businesses that built his wealth from the ground up and has been a man I truly admire in terms of personal discipline and hustling spirit.
His business sense was unparalleled.

He started as a small scale electronics dealer, then made it a bit "big" in Lagos dealing in electronics, radios, TV's, DVD's, fans etc.

Now this is where his foresight then paid of big, when building his first house (which he now rents out), he constructed 2 small shops in front of his house. One was used to for petty trading, normal satchet milk, detergent, mineral and the rest. The other was used for charging phones and batteries.

He was also using his borehole for selling and supplying water to the neighbours and these "meiruwas" that push jerrycans of water in trucks and sell to people at their homes. So his generator at home was used to power the borehole, fridge in his house, another in his shop and then charge phones. His wife was handling all these ones at home.

Few years later, lucky for him here, there was an undeveloped land close to him, undeveloped as in; where the owner bought and abandoned. He negotiated a tiny rent amount with the owner and set up a small batcher and put football viewing centre there (later adding a bet shop) also selling cold drinks, beer, biscuit etc and, next to it, a big grinding mill machine for those who wanted to grind bags of corn, okpa (Bambara nut), beans and the rest. (This last one was basically his brightest idea that fetched him lots) because he was the only person in that vicinity with this big machine.

When my family visited him, we were awestruck with the range of his businesses and activities around him.

All these became much bigger than what he was initially doing. He basically abandoned his electronics sales, leaving it in the hands of his boy. His businesses had all evolved bigly over the last 13 years. They basically own a small supermarket now. They have 3 large grinding machines.
He even grew bigger than the area he was in but he was very reluctant to leave that place because of all he had there. He married a Yoruba woman and trained their 5 children, all with these.

Seeing you guys ask what 20 million would do for someone sent my mind straight to him.

Every single small businesses he has was started with just a tiny fraction of that amount. Let me not even talk how he basically opened a palm oil processing mill for their siblings widow, my aunt in the village and solarized the borehole at our village house that is practically minting small cash for said widow.

Foresight, Discipline and patience are the key factors for wealth building.

We literally saw him go from nothing to MULTIPLE STREAMS of wealth.

Phone charging.
Water selling and distribution.
Grain grinding
Football viewing centre and bet centre.
Mini supermarket.
All small scale businesses in their own rights but which fed off each other and became very big sources of wealth for the owner.

lol..... Uare comparing apples to oranges. A business he built over 13 years when Nigeria was still good and our naira had value to someone seeing 20 million now.

I'm sure If u ask the man's son to take N20m to either use it to start small like his dad or japa he will definitely choose the latter.

Just dey play

Leyqute:


Oh sure. That's very possible.

Some people bought and held Bittcoin after MMM exposed them to it and it has turned their life around.

Bro some of una be sheep.
See as the tone changed immediately Ibime quoted with evidence.

Suddenly it's not a lie again😂😂

joseph1832:
You didn't read the part where I said if that 20mill is converted to the currency of the country you reside in, can it still buy/build you a house etc?

You misread my post and asking the wrong question.

Less than 5% of the population have 500k Naira in their bank account.
To build a house in a very good spot in Nigeria, you must have cash of above 20mill.

20mill takes you 10 to 15 years to earn in Nigeria but months in some western countries.
I don’t really see the comparison or why you think I said 20mil will buy a house abroad.

Your question… nope it won’t buy house abroad

nihilistjnr:


You're not raising 20m in seed funding to go and invest in phone charging, or okada spare parts business lol.

If you're operating at a level where you're either able to generate 20m in cash, or take 20m as a loan, you are not putting that into a hand-to-mouth business like fücking phone charging.

Recently someone I know in Nigeria went to apply for bank loan of 25m, the bank offered a 2 year loan term, at 25% interest per annum, meaning that he would be paying around 1.7m in monthly loan repayments, with the first repayment due the month immediately after the loam was disbursed...and this was a secured loan. Which of the businesses you mentioned is raising 1m a month within 30 days from launch?

I realise that a lot of guys on this thread generally have no idea of what it means to be a legit hustler, and how much more life has to offer, and that is reflected in us being called "wicked abroadians"

That's how in a conversation about generating profit on 20m, someone could actually talk about selling water to aböki vendors, starting a grinding machine business, starting a viewing centre...you simply can't see beyond what you know.

Hence some of us taking the time to paint another picture, and give an alternative view. Imagine a top Graduate thinking that his path in life involves phone repair.

But when we point out what is possible in a different dispensation, a child that literally opened a thread to ask who is more handsome between him and Neymar, could only interpret my post as gloating or bragging....a wicked abroadian doing notice me again.

The bold is a fact. Some of these guys don't have an inkling about how the business world works ; I bet some of them don't even know how the "successful people" they see outside groan under loans with interest rates that are double digits.

Early this year I had a conversation with a man who owns about 5 filling stations in Akure, Ondo state. When he was telling me how little they make selling a liter of PMS, AGO,DPK ; yet they will have to pay back the loans they got from the bank, pay for insurance, pay staff, security and even DPR; yet he still has a double digit interest rate to battle with. Things got worse with the subsidy removal because he now has to compete with NNPC, Mobil and other bigger marketers who sell for a cheaper price .

I just laugh at the idea of putting 20 million into petty business like phone charging, selling water etc

liveLongNprospa:


Bro some of una be sheep.
See as the tone changed immediately Ibime quoted with evidence.

Suddenly it's not a lie again😂😂

#200K in 2015 to #400 million in 2023. Just 8 years.

That's 2000 times increase or 200,000% rise. It's a lie.

Even PayStack which was the fastest-growing startup in Nigeria and got sold at $200 million had a 200 times yield or 20,000% rise from its initial $1 million seed-raise.

Flutterwave had a similar trajectory, and both are unicorns. None did that multiple increase.

200,000% rise under the Buhari administration in 8 years? Come on!

DissTroy:


#200K in 2015 to #400 million in 2023. Just 8 years.

That's 2000 times increase or 200,000% rise. It's a lie.

Even PayStack which is the fastest-growing startup in Nigeria and got sold at $200 million had a 200 times yield or 20,000% rise from its initial $1 million seed-raise.

Flutterwave had a similar trajectory, and both are unicorns.

200,000% rise under the Buhari administration? Come on!

This is you standing in bidness.

Not this fickle fuckers here who can easily change tone from mocking to "oh yes it's possible" just because Ibime quoted it😁

BlueRayDick:


The bold is a fact. Some of these guys don't have an inkling about how the business world works ; I bet some of them don't even know how people the "successful people" they see outside groan under loans with interest rates that are double digits.

Early this year I had a conversation with a man who owns about 5 filling stations in Akure, Ondo state. When he was telling me how little they make selling a liter of PMS, AGO,DPK ; yet they will have to pay back the loans they got from the bank, pay for insurance, pay staff, security and even DPR; yet he still has a double digit interest rate to battle with. Things got worse with the subsidy removal because he now has to compete with NNPC, Mobil and other bigger marketers who sell for a cheaper price .

I just laugh at the idea of putting 20 million into petty business like phone charging, selling water etc

I was advising one of my best friends I stayed with in Ibadan to process japa with me.
Dude made almost first class and was making good money back then from small business.
He was into tiles with his uncle, of loads containers, sells phones and other hustle.
He said he can’t use those money to japa and he continued the hard hustle life which I respect by the way.
When I was processing my japa… I got 1 AU$ at around 235 Naira and did my thing.
Now Nigeria has happened to this guy, he’s lost couple of millions to theft or something like that and now wants to japa to Australia.
Problem is 1 AUD is now $760… So to deposit one semester tuition and health insurance totalling $20K plus dollars will be like 15mill.
The time to japa for him was yesterday… it’s too late now and he’s just looking for a cheaper country.

People with 50mill now are paying that tuition and leaving because it will only get worse.

Unlimited22:

Those roads went bad rather recently. I went to Uyo from Eleme Junction in 2019 and 2020 and that ride was smooth as butter aside the numerous checkpoints.

LOL. Trailer Park and Onne parts smooth? That's always been the most dreaded parts of the road cruise-wise. You could get stuck at Trailer Park for hours during rush hours 'cause a truck has fallen over due to the potholes, edging on at snail speed even.

Wike tried to salvage the Akpajo part, decongesting it with the connecting Elelenwo road. Anything else has just been patchworks at intervals.

Imagine if they had let GEJ complete it. The other part from Ogoni downwards has had no need for renovation till date. ~10 years after.

obainojazz:
You misread my post and asking the wrong question.

Less than 5% of the population have 500k Naira in their bank account.
To build a house in a very good spot in Nigeria, you must have cash of above 20mill.

20mill takes you 10 to 15 years to earn in Nigeria but months in some western countries.
I don’t really see the comparison or why you think I said 20mil will buy a house abroad.

Your question… nope it won’t buy house abroad

Now. How much can buy a house where you reside?

liveLongNprospa:


Bro some of una be sheep.
See as the tone changed immediately Ibime quoted with evidence.

Suddenly it's not a lie again😂😂

Sheep bii ti bawo?

Ibime explained his position and even said he's not talking about reality.

Make I dey do stronghead dey argue dey go? You think everything is argument any application of reason?

Some of you guys lack gumption, I swear.

Two brain cells to rub together to reason properly, you no get.

joseph1832:
Now. How much can buy a house where you reside?

Now ask how many years it will take to get that cash with good savings
Mind you… the country gives everyone an opportunity to own those home through mortgage…. Something that won’t happen in Nigeria

liveLongNprospa:


This is you standing in bidness.

Not this fickle fuckers here who can easily change tone from mocking to "oh yes it's possible" just because Ibime quoted it😁

Haba.

What has ibime done to this one?

Bicoin was 400$ in 2015. And 1$ was about 200 naira or so at that time.
If you put 200k into btc in 2015, you'll get approx 2.5 btc.

2.5 btc today is at least 100,000$, which is over 100 million naira.

Just because you don't have the mental capacity to deduce some things doesn't mean it's not possible, or that others cannot deduce it.

Listen to the message instead of the messenger, you nincompoop.

liveLongNprospa:


Bro some of una be sheep.
See as the tone changed immediately Ibi.me quoted with evidence.

Suddenly it's not a lie again😂😂

asslickers full here , follow the herd ,they can't think on their own

Rip ma

https://www.nairaland.com/7937276/nta-broadcaster-aisha-bello-dead
I use to dread this woman back in the days because once it's 9 o clock it's time for that boring nta news and Sadiq daba

liveLongNprospa:


This is you standing in bidness.

Not this fickle fuckers here who can easily change tone from mocking to "oh yes it's possible" just because Ibime quoted it😁

If you think I have an issue with Ibime then you are even worse than I originally thought 😂

Leyqute:


Haba.

What has ibime done to this one?

Bicoin was 400$ in 2015. And 1$ was about 200 naira or so at that time.
If you put 200k into btc in 2015, you'll get approx 2.5 btc.

2.5 btc today is at least 100,000$, which is over 100 million naira.

Just because you don't have the mental capacity to deduce some things doesn't mean it's not possible, or that others cannot deduce it.

Listen to the message instead of the messenger, you nincompoop.

Lmao.. Why do you think I doubted Ibime in anyway?
Is that what I was talking about? 😁

This evil party won't allow the man do his work, always interfering with their evil agenda
Well he's dine with the devil

https://www.nairaland.com/7937156/apc-blackmailing-me-governor-hyacinth

obainojazz:
Now ask how many years it will take to get that cash with good savings
Mind you… the country gives everyone an opportunity to own those home through mortgage…. Something that won’t happen in Nigeria

Now this is where many of you get it wrong. I don't need that amount of milli9ns to build a house in my village, or even in Alakuko area of Lagos, do I?

People should learn curb their 'long throat' and know how to cut their coat according to their cloth size.

Me carry almost half a billion go buy house, when I never mad. Now I know why many abroadians are rushing to build houses in their villages.

liveLongNprospa:


Lmao.. Why do you think I doubted Ibime in anyway?
Is that what I was talking about? 😁

Is it not 200k to 20m abi what? I don't know the origin of the story.

If you think starting a business of pure water and phone charger with 200k in 2015 will yield 20m in 2023, na lie.

Possible with Bitcin. Which is very risky. My own angle is the bitcn angle. I don't think most sane people would do it. Or even be aware of it. But it's quite possible - if you do it.

Instead of calling someone sheep, why not learn to read? Or reason?

izzou:
Wisdom demands that we ask the business the person did, that converted 200k to 400 million.

Maybe e use 200k open company, then chopped government contracts and became a funnel for laundering..

I have seen someone make 10 million in a day, by adding his markup to some items purchased.

Until you know what the person did, no need to dey argue blindly

That true with 20m in Bunkering business here in Delta you go make that kind money na.

obainojazz:


20mill takes you 10 to 15 years to earn in Nigeria.

Na wa o.

I don't know about others.... but this is NOT true.

Depends on the person's work/ business sha..

Leyqute:


Is it not 200k to 20m abi what? I don't know the origin of the story.

If you think starting a business of pure water and phone charger with 200k in 2015 will yield 20m in 2023, na lie.

Possible with Bitcin. Which is very risky. My own angle is the bitcn angle. I don't think most sane people would do it. Or even be aware of it. But it's quite possible - if you do it.

Instead of calling someone sheep, why not learn to read? Or reason?

No. The dude who posted it claimed an acquaintance turned #200 thousand to #400 million in 8 years from 'business'. That's some 'Aspire to Perspire' vague and evasive storyline.

200,000% increase in just 8 years of the Buhari era doing just business is a lie. A flat-out lie, and the guy who stated it knows so.

People can turn their lives dramatically around over a pretty short period. I know some persons who forrayed into the gadgets business with zero capital, stand as middle man, collect small choppings here and there and build capital slowly...some of them have crossed 9 figures in assets, and all of this in a space of 6-7 years, within same Buhari economy.

The above scenario won't be the same for the overwhelming majority of Nigerian businessmen, and even for the guys in the above scenario, things are starting to take a nose-dive with FX rates but that doesn't mean those numbers weren't done and aren't still possible. It's generally easier to scale a business from zero to 10 million than it is to scale from 10 million to 20 million (the more capital you build, the harder it becomes to beat the market significantly, it's why guys like Buffet are seen as geniuses)...don't use growth metrics of already established businesses to judge small businesses.

DissTroy:


No. The dude who posted it claimed an acquaintance turned #200 thousand to #400 million in 8 years from 'business'. That's some 'Aspire to Perspire' vague and evasive storyline.

200,000% increase in just 8 years of the Buhari era doing just business is a lie. A flat-out lie, and the guy who stated it knows so.

400m ke?

No legit aspire-to-magwaya naija business can do that.

To make that kinda gain in Bitcoinn, you have to be a miner in 2010 ish. And then keep your money till now. People who did that have billions of dollars. They don’t tell anyone they have BTC, could lead to their death.

200k to 20m in 8 years is still possible. But not with all those perspire-magwaya businesses. And it’s quite rare.