Hello all,

If you got 26 M naira tomorrow, do you stay or japa ? I have a friend who inherited 26 M with a wife and son. He has decided to stay. I can't see that money lasting more than 2 years with today's economy in naija.

Fellow nairalander, what would you do ? Stay and invest, or leave ?

why do you say you dont see the money lasting more than two years. is your friend not working at the moment??

njelrapheal:
why do you say you dont see the money lasting more than two years. is your friend not working at the moment??

He does "business". Aka trying to make ends meet by any means

26million... I will only send my family to a more better climes, personal I will remain in Nigeria and build my idea with just 5million.

21million to get my family outside, 5million for myself.

I will stay. Life is very hard abroad. Forget what you hear. Nigeria is the best country on earth. Just have more faith in t pain.

Money that may not be upto $10k by next year.

Stay

What kind of idea u wanna build with 5M?

phorget:
26million... I will only send my family to a more better climes, personal I will remain in Nigeria and build my idea with just 5million.

21million to get my family outside, 5million for myself.

put 20m on treasury bills at 15percnt and feed the family on the upfront interest for one year. use that 6m to start a business for one year. your head go don clear after one year weda you wan move or not. please if you dont have a definite plan on what you want to do abroad, don't make that move.. its capital intensive especially for a family of three.

maternal:


He does "business". Aka trying to make ends meet by any means

Dey play. 26million that the government is working so hard to turn to 6 million by next year..

Dey play. 26million that the government is working so hard to turn to 6 million by next year..

Unless he has good chances abroad he’s better off staying. That 26m won’t last at all abroad.

Go abroad on what type of visa That money cant even do student visa these days

GbemiTrabaye01:
What kind of idea u wanna build with 5M?

It is my little secret to attain fame and success.
I have it all mapped out and with just 2million naira I will set the plan rolling.

njelrapheal:
put 20m on treasury bills at 15percnt and feed the family on the upfront interest for one year. use that 6m to start a business for one year. your head go don clear after one year weda you wan move or not. please if you dont have a definite plan on what you want to do abroad, don't make that move.. its capital intensive especially for a family of three.

This is good only when the exchange rates are stable for the period of one year but if they aren't that's a big loss in the purchasing power. I thought about this last year by converting USD to naira and then buying treasury bills then on a second note I did the calculations assuming the dollar to naira rate increases what then happens to my investment that scenario made me to hold my break.

Between that time and this month Naira has lost over 70% of its value meaning my USD has gained over 70% in naira equivalence but I would have only gained 15 to 20 % in treasury bills investment while loosing (70-20)% in the value of my money if left in USD.

Treasury bills is only great when exchange rates is constant and inflation is single digits. For a volatile economy like Nigeria I won't try it at present.

maternal:
Hello all,

If you got 26 M naira tomorrow, do you stay or japa ? I have a friend who inherited 26 M with a wife and son. He has decided to stay. I can't see that money lasting more than 2 years with today's economy in naija.

Fellow nairalander, what would you do ? Stay and invest, or leave ?

So it is in Canada that 26M will go a long way for a married man, his wife and son? Ths same Canada we see posts about on Reddit, Instagram and Twitter? That Canada?

Gerrard59:

So it is in Canada that 26M will go a long way for a married man, his wife and son? Ths same Canada we see posts about on Reddit, Instagram and Twitter? That Canada?

Are you comparing naija to Canada ?

ednut1:
Go abroad on what type of visa That money cant even do student visa these days

I wasn't aware of this.

SKhanmi:
Unless he has good chances abroad he’s better off staying. That 26m won’t last at all abroad.

With all the instability in naija. How long with it last with a wife and child in naija ?

maternal:


Are you comparing naija to Canada ?

Gerrard59:

So it is in Canada that 26M will go a long way for a married man, his wife and son? Ths same Canada we see posts about on Reddit, Instagram and Twitter? That Canada?

That would answer your question as the grass is greener where one waters it, not necessarily where there is land.

Japa to where? With what visa? With what skill? Even immigrant friendly countries are now tightening their immigration policies. It is no longer sure for students to get work permit after studies now sef. Some of you guys talk like it is just easy walking into an embassy and getting a visa. N26m is less than $18k oooo

maternal:


With all the instability in naija. How long with it last with a wife and child in naija ?

If he knows what he’s doing. Way longer than abroad.

Else, He & the wife would reach there just to start struggling, doesn’t seems like he has transferable skills also. The only person who will eventually benefit is the child.

idahme:


This is good only when the exchange rates are stable for the period of one year but if they aren't that's a big loss in the purchasing power. I thought about this last year by converting USD to naira and then buying treasury bills then on a second note I did the calculations assuming the dollar to naira rate increases what then happens to my investment that scenario made me to hold my break.

Between that time and this month Naira has lost over 70% of its value meaning my USD has gained over 70% in naira equivalence but I would have only gained 15 to 20 % in treasury bills investment while loosing (70-20)% in the value of my money if left in USD.

Treasury bills is only great when exchange rates is constant and inflation is single digits. For a volatile economy like Nigeria I won't try it at present.

this sure is a good contribution. his money is in niara though

Botswana, Kenya are sweet country to japa to
With the 26 million
U will invest it well there

Okay save up and good luck!

phorget:



It is my little secret to attain fame and success.
I have it all mapped out and with just 2million naira I will set the plan rolling.

ednut1:
Go abroad on what type of visa That money cant even do student visa these days

That 26M naira is more than enough to do Student Visa for Germany and Austria with the possibility of finding a course of study with English as language of instruction.

GbemiTrabaye01:
Okay save up and good luck!

Thanks brother man.

Life's hard everywhere. So long as he does not have unrealistic expectations, he is better off in the well developed economies than in Nigeria.

maternal:


Are you comparing naija to Canada ?

Don’t mind him. Canada, that, tbd moment you land at the airport like this, you’re entitled to 5 million dollars, the money is credited to your account when they help you open account on the spot. Every immigrants is entitled to this. Free housing, free foods, your children attend free school. And there’s monthly payments from the government too. That 26million will soon be exhausted if he stay in Nigeria, he’s better off japa with that money honestly

maternal:
Hello all,

If you got 26 M naira tomorrow, do you stay or japa ? I have a friend who inherited 26 M with a wife and son. He has decided to stay. I can't see that money lasting more than 2 years with today's economy in naija.

Fellow nairalander, what would you do ? Stay and invest, or leave ?

with knowledge acquired over d years na to japa ASAP

I can't gamble with that kinda money in this unstable economy

tensazangetsu20:
I will stay. Life is very hard abroad. Forget what you hear. Nigeria is the best country on earth. Just have more faith in t pain.

but u are abroad where life is very hard right?

Y don't u relocate to Nigeria where it's easy according to u?

Maybe u are trying to b sarcastic though

ednut1:
Go abroad on what type of visa That money cant even do student visa these days

26 million will not do student visa?

U people should calm down abeg