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Re: Recession, Personal Income And Planning by Allwility: 7:35pm On Sep 03, 2016 |
dboss444:With much respect to the Emir, I agree with most of his views but then as Nigerians we need to stop the blame game. That's what we see virtually everyday on Nairaland...the so-called Zombies vs Wailers bull crap. Nobody is discussing issues and creating ideas on how to make things work. The Emir raised some very important points which aren't much different from what I said in the links posted earlier. You see, a case where we produce a commodity, export it and have the Europeans, Indians or Chinese process it and have it sent back to us will only leave us at the receiving end. And that's where the government needs to step in. Our technology is obsolete, that's why we cannot compete in terms of trade with the Chinese or Europeans. The Chinese were once at this stage we are right now. And what did they do, they sent their citizens abroad to study and learn from the US...now these citizens are back in the country making wave and China is a superpower which it wasn't some sixty or seventy years ago. Our boys are all over the world doing one MSc course or the other. Why can't the government take away subsidy completely off petroleum products and put it in agriculture and fund research programs like is done in other climes. Let me explain, we don't grow wheat in Nigeria basically because we have swallowed it hook, line and sinker that wheat don't do well in the tropics. But then we saw what the former minister of agriculture Dr Adesina did with the wheat policy. Look, let's not kid ourselves, we cannot continue importing 4million MT of wheat per annum and that figure is rising by 5% annually!! The government and private individuals can set up research labs and fund them to look at how to grow wheat successfully in the tropics and process them to finished products. We can do this basically in all sectors, from hides and skin to groundnut, cotton etc...the list is endless. Just yesterday, I was studying the Malaysian model on oil palm and what they did isn't much different from all I have typed here. 2 Likes 1 Share |
Re: Recession, Personal Income And Planning by olujaidi: 7:46pm On Sep 03, 2016 |
ChessEnthusiast: This must have been bought from the secondary market. The primary market rates were as follows 91 days: 14.3890. 182days: 17.500. 364days: 18.4240. AkumahTalk: bellville: kaorama: Choi!! Well, when I start raising a family I'll use this knowledge to maximum effect! |
Re: Recession, Personal Income And Planning by HARDDON: 8:28pm On Sep 03, 2016 |
kevoh: How to invest in treasury bills By Babajide Komolafe It is one of the safest investment products. Yet many people know little about it. The banks are not also helping matters. They rarely inform or educate their customers about it. And why should they, when it is more expedient for them for the customer to invest his money with them via fixed deposit than investing the money in Treasury bill. Treasury bills (TBs) are short term government debt instruments. Hence investing or buying TBs is tantamount to lending to government on a short term basis usually below one year. They are issued by the Central Bank of Nigeria (CBN), who is the banker to the government. The government uses TBs to borrow money to finance its expenditure pending receipt of revenue. For example, if the government wants to pay salary for this month, and it is yet to receive the income for the month, it could ask the CBN to help it raise money by selling TBs. The CBN issues the TBs at a specified interest rate, specifying the maturity, usually 91 days (three months). Though anybody can buy TBs, you have to go through the banks, who act as agents to the CBN. Also because the banks are mandated to keep a portion of customers deposit in liquid instruments (instruments that can be easily exchange for cash), which is the liquidity ratio; they are the biggest investors in TBs. In addition to using TBs to borrow money on behalf of the government, the CBN also uses them to control the amount of money in the economy (via the banking system). When the CBN wants to reduce money in the economy (money supply), it sells TBs to the public. The money invested in the TBs automatically leads to reduction in money supply. Also when the CBN wants to increase money supply it buys TBs from the public. Whenever the CBN issues TBs for any of the above purpose, all or some of the TBs may be purchased. If all the TBs are not purchased, the CBN warehouses the outstanding TBs, and reissue them at a later date. The reissued TBs are called secondary market TBs, while newly issued TBs are called Primary Market TBs. Secondary market TBs are also called OMO (Open Market Operation) TBs ......................... Would you like to put money aside and earn significant interest returns in only a few weeks or months? You might consider buying treasury bills, a popular and accessible form of investment. You don't have to be rich to afford them, and they are simple and virtually risk-free Treasury bills, also known as "T-bills," are a security issued by the U.S. government. When you buy one, you are essentially lending money to the government. Here, the term security means any medium used for investment, such as bills, stocks or bonds. Treasury bills have a face value of a certain amount, which is what they are actually worth. But they are sold for less. For example, a bill may be worth $10,000, but you would buy it for $9,600. Every bill has a specified maturity date, which is when you receive money back. The government then pays you the full price of the bill -- in this case $10,000 -- and you earn $400 from your investment. The amount that you earn is considered interest, or your payment for the loan of your money. The difference between the value of the bill and the amount you pay for it is called the discount rate, and is set as a percentage. In the example above, the discount rate is 4 percent, because $400 is 4 percent of $10,000. Treasury bills are one of the safest forms of investment in the world because they are backed by the U.S. government. They are considered risk-free. They are also used by many other governments throughout the world. Read on to find out about the different kinds of treasury bills, how to buy a treasury bill, and why they are so popular. Source: howstuffswork 2 Likes |
Re: Recession, Personal Income And Planning by ChessEnthusiast: 8:31pm On Sep 03, 2016 |
olujaidi:Oh really. Thanks for letting me know. I'll buy from the primary market going forward. |
Re: Recession, Personal Income And Planning by olujaidi: 8:36pm On Sep 03, 2016 |
ChessEnthusiast: https://www.nairaland.com/878880/treasury-bills-nigeria/206 Follow the thread |
Re: Recession, Personal Income And Planning by ChessEnthusiast: 8:49pm On Sep 03, 2016 |
olujaidi:Nice. Thanks |
Re: Recession, Personal Income And Planning by Allwility: 8:58pm On Sep 03, 2016 |
dboss444: Baba how can I give you other people's info?? Truth is such info ain't really difficult to come by. For instance, if Dangote is setting up more cement production plants at the pace he is going, what does that tell you about the real estate sector and housing market? If Masters Energy is building an industrial cluster in the east, and a fertilizer plant is part of the cluster, what does that tell you about the fertilizer industry? If the Chinese are setting up hide and skin processing factory in the north and you've got a pool of talented shoe makers in Aba, what does that tell you about the shoe manufacturers sector?? Lastly, to answer your question, pay closer attention to the agricultural and manufacturing sector between 2017- 19. 1 Like |
Re: Recession, Personal Income And Planning by Origin(f): 10:05pm On Sep 03, 2016 |
I would advice people to use their money to earn money rather than keep in the bank. Have you seen the ridiculous rates the banks give for saving. I tell you if you buy N10k yam and sell at night market hou would make more than what this banks could ever give in a year. Its just ridiculous. You use saved funds to finance loans which is compounded yet you cant pay a high simple interest yield. Run from shares that's the worst. N1 dividend for using my funds for a year. Don't fall for that trap. Besides your money will be depreciating. Every day inflation makes the value of your savings are reducing. Make more money with it and build your wealth. 1 Like |
Re: Recession, Personal Income And Planning by buffalowings: 10:34pm On Sep 03, 2016 |
unite4real: Op is top of the social class The very top 1% He isn't middle class Earning that much means he is either a professional in a highly lucrative job or a small time politician |
Re: Recession, Personal Income And Planning by buffalowings: 10:39pm On Sep 03, 2016 |
unite4real: I still dey curse that stanbic official I had a shortfall of about 500k the other time And I wanted to buy bonds He only lured me into their bank so I could open an account with them Anyway, I hear say individual no dey find it easy buy am 15% interest per annum would have just been fine for me Anyway na to dey buy land be that |
Re: Recession, Personal Income And Planning by ferhyntorlah(f): 11:03pm On Sep 03, 2016 |
ChessEnthusiast: Sir, thou art a wise planner. 2 Likes |
Re: Recession, Personal Income And Planning by XaintJoel20: 11:52pm On Sep 03, 2016 |
salabscholar01:You nailed it.. Thanks... |
Re: Recession, Personal Income And Planning by XaintJoel20: 12:27am On Sep 04, 2016 |
HARDDON:Thanks for this educating and insightful article. Please how can I invest in TB in Nigeria Thanks.. 1 Like |
Re: Recession, Personal Income And Planning by profstar(m): 9:47am On Sep 04, 2016 |
I understand you OP, because we are the same, check me out doing my thing
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Re: Recession, Personal Income And Planning by Nobody: 9:45pm On Sep 04, 2016 |
ChessEnthusiast:Pls I want to know all about treasury bills and how to invest |
Re: Recession, Personal Income And Planning by Nobody: 9:55pm On Sep 04, 2016 |
supereagle:Not sure they still exist. 1 Like |
Re: Recession, Personal Income And Planning by Nobody: 12:11am On Sep 05, 2016 |
buffalowings:Will someone in the top 1% of population negotiate 300k schl fees. Is Nigeria that poor. Wow. Really?? |
Re: Recession, Personal Income And Planning by Nobody: 12:21am On Sep 05, 2016 |
buffalowings:Wait a minute bro. I just checked. #200k salary earner in the top 1% of the population??. Are you kidding me?. 1 Like |
Re: Recession, Personal Income And Planning by Bestslimever(m): 4:57am On Sep 05, 2016 |
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Re: Recession, Personal Income And Planning by buffalowings: 11:42am On Sep 06, 2016 |
Sincere4u: OK seriously Upper middle class |
Re: Recession, Personal Income And Planning by buffalowings: 11:48am On Sep 06, 2016 |
[quote author=XaintJoel20 post=49052964] Thanks for this educating and insightful article. Please how can I invest in TB in These bankers are not straight forward about tb they'll rather sell to companies rather than individuals I wanted it badly too. The banker was just posting me.. it was later that I discovered it was a ruse to make me open a bank account instead Bro buy land instead 1 Like |
Re: Recession, Personal Income And Planning by Nobody: 1:49pm On Sep 06, 2016 |
buffalowings:Lol. I still believe being in that depends on his responsibilities. He do be struggling to be in the middle class if he has a housewife and not less than four children but as it is, he's in the middle class cos he's got only one child whose school fees is appreciably higher than his gross monthly salary. |
Re: Recession, Personal Income And Planning by buffalowings: 1:59pm On Sep 06, 2016 |
Sincere4u: OK what income brackets would you ascribe to each social economic strata in Nigeria. If to me that amount of money makes me believe he has to be well off than what you think. Maybe I'm just dirt poor. |
Re: Recession, Personal Income And Planning by Nobody: 6:02pm On Sep 06, 2016 |
buffalowings:With the makosa dancing Naira and the recession biting deep it's hard to be more specific but our subject is obviously not near the upper middle class. Lower class earn less than #200k annually. Middle class earn above #1million. Middle class represented annual income that averaged $10,000. With the way the naira has fallen, someone earning #2.4million annually falls far below $10k. In summary our subject is barely in the middle class category. Upper middle is a long shot. Upper middle earn above #4million. While the top 1% earn above #8milllion. |
Re: Recession, Personal Income And Planning by buffalowings: 7:10pm On Sep 06, 2016 |
Sincere4u: Now I'm understanding At my current state. I think there should be another class I. E. Upper lower class Cos I'm in that zone now 1 Like |
Re: Recession, Personal Income And Planning by Nobody: 7:14pm On Sep 06, 2016 |
buffalowings:Lol. keep grinding, reading and praying. You will rise. |
Re: Recession, Personal Income And Planning by Nobody: 7:16pm On Sep 06, 2016 |
buffalowings: buffalowings:Lol. keep grinding, reading and praying. You will rise. |
Re: Recession, Personal Income And Planning by SenatorJames(m): 6:40pm On Sep 10, 2016 |
I pray this period does not last because its not just easy to survive this period |
Re: Recession, Personal Income And Planning by bigtt76(f): 12:16am On Sep 11, 2016 |
Please which bank did you use what is the process? ChessEnthusiast: |
Re: Recession, Personal Income And Planning by ChessEnthusiast: 8:17am On Sep 11, 2016 |
bigtt76:Access Bank |
Re: Recession, Personal Income And Planning by bigtt76(f): 2:51pm On Sep 11, 2016 |
Ok thanks. What's the process? ChessEnthusiast: |
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