Nice write up

My predictions: I strongly believe that the Nigerian economy will swing out of recession before the end of the third quarter of next year. And when Dangote refinery comes on stream in 2018, the Nigerian economy will bounce back.

However, I am certain that the lessons of this recession will be lost on many and people will continue with their frivolous spending habits.

Here's a key: Those that invest massively this recession period, will reap the most when the recession is over. All things being equal, the Nigerian economy will experience a boom between 2018 and 2025 when there will be another burst.

Sai baba

I thought "they" said recession is just a word

On a serious note, thanks for sharing @unite4real

Op thanks
The timing is perfect

Almost everything is negotiable. Yesterday I renegotiated a standard hosting payment with my provider (an American company) from USD155.40 to USD107.40 Meanwhile USD155.40 is their official charge (it's listed on their website). I simply told them point blank that I can't pay that amount and I want to terminate and migrate to a cheaper provider. They offered me a discount and I took it.
When it comes to negotiation, I always try my luck. I once tried to negotiate my flight fare with Arik at the airport .

olujaidi:


Tuition fees are negotiable?

noted ad keying in

Nice 1

nice

recession ti take over.

With or without recession, I plan my income. 70% of my income goes into T bills every month. I earn high enough income to afford a luxurious lifestyle but I choose not to because it's all vanity. I don't need much to be me. I like myself.

olujaidi:


Tuition fees are negotiable?

Yes very possible. In fact, i did it last time and got more than i planned to get.

[size=28pt]No provlem if you have a prudent wife.[/size]

ChessEnthusiast:
With or without recession, I plan my income. 70% of my income goes into T bills every month. I earn high enough income to afford a luxurious lifestyle but I choose not to because it's all vanity. I don't need much to be me. I like myself.

I keep hearing T bills? Can you give a summary of what it is about? What is the risk-reward ratio?

CHYMZZY:
Too long to read..
Can somebody please consise or summerize this for me..

The oyinbo man says if you want to hide anything from a blackman,hide it in a book.Please read that article.Its very insightful

Allwility:
Nice write up

My predictions: I strongly believe that the Nigerian economy will swing out of recession before the end of the third quarter of next year. And when Dangote refinery comes on stream in 2018, the Nigerian economy will bounce back.

However, I am certain that the lessons of this recession will be lost on many and people will continue with their frivolous spending habits.

Here's a key: Those that invest massively this recession period, will reap the most when the recession is over. All things being equal, the Nigerian economy will experience a boom between 2018 and 2025 when there will be another burst.

Stop sounding like aunty Kemi, the question that begs to be answered is HOW?

@Post

When I began reading this post, the first thing that caught my attention was this statement of yours:

"In the table below, you will figure- out how i financed all my responsibilities with flat, steady and regular salary."

I work in the private sector and for the past few months now, my employer does not pay my salary on time. Then starting as from July this year, they began owing me salary. They paid me only 60% of my salary for the month of July and I am yet to receive August salary. My point is, it is easier to budget when one has a steady regular income which I think is a blessing. It becomes difficult to budget when an employer starts to owe you salary or pays salary whenever.

Another problem is the sudden increase in the prices of food stuff and services that come unannounced. For instance, I have watched palm oil go from ₦250 to ₦350 for a 75cl bottle within 2 weeks. I watched Titus fish go from ₦250 to ₦350 per piece within a short period of time. I watched a mudu of granulated sugar go from ₦300 to ₦500. Each time it is announced that the Naira has slipped again against the dollar, transportation costs suddenly increase without any warning.

I mean you can plan, budget, cut costs and whatever but all that will not help if employers won't even pay you your salary. I mean, you can only cut cost once you have seen money to spend. Nigeria has become unbearable and I do not think I could live in this country much longer. The uncertainty, the sudden and constant hike in the prices of goods and services as well as the Nigerian employers unwillingness to pay salary and/or pay salary on a timely manner will throw even the most prudent person into a state of poverty and chaos.

So in hindsight, in as much as your advice is not bad, it does not take into consideration people with such meager earnings that is not even enough to live on and also people who have been owed salaries for months and do not have an alternate source of income.

This could freely make one readjust expenses, its indeed a helpful write up but accept this, man you are a rich man, 137k for month no be small job you de do. What advice would you offer to one who earns 34k per month. Thanks

olujaidi:


Tuition fees are negotiable?

Yes they are. I got that info from one of the parents in my son's school and was surprised. There are a lot of backdoor negotiations going on.

Sacluxpaint:


Stop sounding like aunty Kemi, the question that begs to be answered is HOW?

I couldn't help but chuckle at the thought of being compared to our infamous aunty...hehehe big big grammar...I know I am weird but not completely mad...lol at the thought of being a mad analyst...

Well sha, you can always refer to the predictions I make on Nairaland. Most often times, they come true. Check this out:

https://www.nairaland.com/2496178/conspiracy-theory-what-could-happen#36521701

and then this:
https://www.nairaland.com/3005070/cbn-raises-interest-rate-12/1#44013243

You can also read my guide on how we can walk out of recession. Note these comments were made right before we slipped into recession. https://www.nairaland.com/3041326/cbn-relax-fx-policy-act#44592452

Having said this, I must say that the price of crude oil will pick up further in the next eighteen months. Although don't expect it to get to the $100 mark. And our feeble attempt at diversification (the rice industry comes to mind) will help save our much needed forex.

The wise ones are already investing. At the start of the second quarter, Dangote started building two 6MT/yr plants in Nigeria. I know of some industrialists that are putting plans in place to expand...I even had a talk one with one yesterday. You'd be amazed at the tons of information and optimism these guys possess.

I know there have been job cuts here and there, but look at the flip side, most industrialists are waiting on wings to make things happen from 2017 esp 2018...that's the year to watch out for!!!

Pavore9:


Yes o.

you dey price school fees. Kai

tanidabi:

The oyinbo man says if you want to hide anything from a blackman,hide it in a book.Please read that article.Its very insightful

you got me here..
I will my dear..

ChessEnthusiast:
With or without recession, I plan my income. 70% of my income goes into T bills every month. I earn high enough income to afford a luxurious lifestyle but I choose not to because it's all vanity. I don't need much to be me. I like myself.

I understand the need to stock up for bad days but I think you should treat yourself once in a while.

AkumahTalk:
Almost everything is negotiable. Yesterday I renegotiated a standard hosting payment with my provider (an American company) from USD155.40 to USD107.40 Meanwhile USD155.40 is their official charge (it's listed on their website). I simply told them point blank that I can't pay that amount and I want to terminate and migrate to a cheaper provider. They offered me a discount and I took it.
When it comes to negotiation, I always try my luck. I once tried to negotiate my flight fare with Arik at the airport .

Did you succeed with the flight fare negotiation?

supereagle:
[size=28pt]No provlem if you have a prudent wife.[/size]

funny but true.

Annalise:


I understand the need to stock up for bad days but I think you should treat yourself once in a while.

I will. Thanks dear

Allwility:


I couldn't help but chuckle at the thought of being compared to our infamous aunty...hehehe big big grammar...I know I am weird but not completely mad...lol at the thought of being a mad analyst...

Well sha, you can always refer to the predictions I make on Nairaland. Most often times, they come true. Check this out:

https://www.nairaland.com/2496178/conspiracy-theory-what-could-happen#36521701

and then this:
https://www.nairaland.com/3005070/cbn-raises-interest-rate-12/1#44013243

You can also read my guide on how we can walk out of recession. Note these comments were made right before we slipped into recession. https://www.nairaland.com/3041326/cbn-relax-fx-policy-act#44592452

Having said this, I must say that the price of crude oil will pick up further in the next eighteen months. Although don't expect it to get to the $100 mark. And our feeble attempt at diversification (the rice industry comes to mind) will help save our much needed forex.

The wise ones are already investing. At the start of the second quarter, Dangote started building two 6MT/yr plants in Nigeria. I know of some industrialists that are putting plans in place to expand...I even had a talk one with one yesterday. You'd be amazed at the tons of information and optimism these guys possess.

I know there have been job cuts here and there, but look at the flip side, most industrialists are waiting on wings to make things happen from 2017 esp 2018...that's the year to watch out for!!!

There was a lecture emir sanusi gave how nigerian govt caused recession. Wats your take on that?

Allwility:


I couldn't help but chuckle at the thought of being compared to our infamous aunty...hehehe big big grammar...I know I am weird but not completely mad...lol at the thought of being a mad analyst...

Well sha, you can always refer to the predictions I make on Nairaland. Most often times, they come true. Check this out:

https://www.nairaland.com/2496178/conspiracy-theory-what-could-happen#36521701

and then this:
https://www.nairaland.com/3005070/cbn-raises-interest-rate-12/1#44013243

You can also read my guide on how we can walk out of recession. Note these comments were made right before we slipped into recession. https://www.nairaland.com/3041326/cbn-relax-fx-policy-act#44592452

Having said this, I must say that the price of crude oil will pick up further in the next eighteen months. Although don't expect it to get to the $100 mark. And our feeble attempt at diversification (the rice industry comes to mind) will help save our much needed forex.

The wise ones are already investing. At the start of the second quarter, Dangote started building two 6MT/yr plants in Nigeria. I know of some industrialists that are putting plans in place to expand...I even had a talk one with one yesterday. You'd be amazed at the tons of information and optimism these guys possess.

I know there have been job cuts here and there, but look at the flip side, most industrialists are waiting on wings to make things happen from 2017 esp 2018...that's the year to watch out for!!!

Please can you give us these information these industralist have so we young would be investors like us can see how we cn walk arround these info and please tell us specific sectors in our economy that would tk off from 2017

Great write up!

Nigerian stocks for me are a capital No-No!


Anyone care to share how T BILLS beats the inflation effect? For me inflation on the streets is anything from 20 - 25% presently; is there any stable, liquid financial instrument that can tackle that ?

ANBAKO:
Nice one op. This is a great piece and I am happy I practice virtually all except one - Negotiation and re-negotiation.

After reading this, I called someone that I had a negotiation with yesterday on a job and had a renegotiation. I got another 12% discount!!!!

Thanks once again.

Do good for good to come your way

ChessEnthusiast:
With or without recession, I plan my income. 70% of my income goes into T bills every month. I earn high enough income to afford a luxurious lifestyle but I choose not to because it's all vanity. I don't need much to be me. I like myself.

What's the current rate of T bills nw

ogawisdom:

What's the current rate of T bills nw

14.7% for 140 days. Just bought recently - on Friday precisely.