ukay2:
Hope this will help NTB rate to go upwards

the problem is the 10 trillion pension funds sitting idle with narrow room to invest, they are willing to accept 2 percent...the Dmo and cbn has found so omo at 13 for fdiand banks by cbn to get forex and manage liquidity ..the dmo do Ntb at 4.2 and saving bond at 6 to grap the pension funds and other idle funds ....now mnc firms are also targeting Nb com paper , dangote bond 11 , flour mills @ 7 so now bank will announce bonds at 9 and suck up cheap money then loan out at 23

Yes i am the person you are right when i bought the house dollar was 180, i have managed to recoup 10m plus from the rent, also invested part of the rent to my project in my place and in treasury bill just to see if i can keep the value of my money, the only problem from 2016 i started renting the property the rental value does not increase still that 3m to 3.2m.

Note i am not in the country so i will patiently wait to recoup all my money in years to come, i also believe the value of the property is also increasing as well.

Pascopele:
The most heart breaking story I heard this week. Someone shared how he bought a house in Lekki for roughly 60M in 2014.

The house is realistically worth maybe 30M naira today.

So he bought it for $390,000 in 2014. And it's worth about $70,000 today.

VALUE INCINERATION.

Thisnut:
times like this is when we push our boat to real estate. January 2017 when we were in times like this. Dollar was 480-500. I bought a land measured at 100ft by 100ft for 4.8m naira and one side of the land has an incomplete 2flats of 3 bedrooms each at a roofing level.

Fast forward in 2019, the same street someone sold 100 ft by 100ft for 7m naira with nothing inside the land with plenty abeg. This shows if i was to buy the land now, I'd have paid 10m naira or more.

By the special grace of God, I'm currently building a 6flat of 2 bedrooms each on the other side, hoping to complete it in 2 to 3 months time. 120days is my estimated time frame for it.

Real estate is one of the oldest businesses and in times of inflation, it has a way of standing out.

My mom built 2 houses of face me, i face you in 1968, up till today with little renovation she is still getting money from those houses. She said she has gotten the money of those houses back like a million times.

If you don't know what to do with your money, build a house for tenants in habitable environment , you will never run at loss. If dollar self go up, house rent go increase. You might think the rent is low, but a time will come when you will make the money used in building that house in rent for just a year. House my mom built less than 1000 naira, she makes 5000 naira now from a single room in a month times 26rooms, that is 130k naira in a month and over 1.5m a year. #Fact!

Commercial buildings give rental income better than residential buildings

This pension accounts is a disaster in the long term....u have 3,600,000 million in Rsa (10000 usd ) in 2019 now 2020 your have 8200 dollars (3,700,000) by the time u retire u will have 15m naira(rsa ) but dollars will be 1000 naira now 15000 dollars...a bag of cement will be 15k and one block will be 1500 naira ....a tukobo corolla(2025 ) model will be .....10m or 10000k dollars .....while u friend in America will be having 410k dollars in his ras accounts 410m naira he land Nigeria to buy up the streets

Theconglomerate:
I thought you all were preaching how fixed investments were the best and how nothing better had happened to humanity after it?

Kid how old are you? Only a baby will gloat when hard working investors hit a rough patch in a depressed economy. I wish not to meet your type in real life. Let me break it down for you, because right now you have a narrow and myopic perspective.

In the medium term there is no gainer or loser in this devaluation game. Its a lose-lose for both the importer and the buyer. Lets assume you make 30% from the current rise in dollar. In few months time you will exhaust your wares and will buy dollar at N500. By the time your goods arrive in Naija dollar might have dropped to N450. There goes part of your profit.

Secondly,in a depressed economy purchasing power of consumers reduces. So if you have been selling 100units of your product before now,you will sell maybe 50 units. Revenue is bound to drop. So there goes another part of your profit.

Now to the 3rd leg,if you decide not to import anything to protect your profit for some months,you wont record any revenue in those months. You will be trapped. . I know Orile importers who made heavy losses because of Naira appreciaton in 2016. So at the end there is no real winner.

I doff my hat to the fixed income investors here,youve made some margin on your investment. Lets say 10 to 15 percent return. Once you get the principal and capital find other good ways to compound it. Its not a hopeless situation. Ignore this child.

ukay2:
Hope this will help NTB rate to go upwards

Rates MIGHT go up if the "men" at the top want to help

Otherwise, excess liquidity may dilute possible rate increase

Theconglomerate:
Inflation is yet to set in or atleast,not to its optimum degree to this new exchange rate.
Trust me it is still coming.
If I were you,I will use all of that naira liquid in my account to purchase now and fill my warehouse and cut my losses now rather than later cos its gonna get worse.

My brother I get your point but the question is where do you see the goods to buy now? And how do you bring it to your store except one is a rice seller. I'm open to your advice.

Thisnut:
times like this is when we push our boat to real estate. January 2017 when we were in times like this. Dollar was 480-500. I bought a land measured at 100ft by 100ft for 4.8m naira and one side of the land has an incomplete 2flats of 3 bedrooms each at a roofing level.

Fast forward in 2019, the same street someone sold 100 ft by 100ft for 7m naira with nothing inside the land with plenty abeg. This shows if i was to buy the land now, I'd have paid 10m naira or more.

By the special grace of God, I'm currently building a 6flat of 2 bedrooms each on the other side, hoping to complete it in 2 to 3 months time. 120days is my estimated time frame for it.

Real estate is one of the oldest businesses and in times of inflation, it has a way of standing out.

My mom built 2 houses of face me, i face you in 1968, up till today with little renovation she is still getting money from those houses. She said she has gotten the money of those houses back like a million times.

If you don't know what to do with your money, build a house for tenants in habitable environment , you will never run at loss. If dollar self go up, house rent go increase. You might think the rent is low, but a time will come when you will make the money used in building that house in rent for just a year. House my mom built less than 1000 naira, she makes 5000 naira now from a single room in a month times 26rooms, that is 130k naira in a month and over 1.5m a year. #Fact!

The way you people are quoting money here when... are you sure that all of us are in same Nigeria?
Make una show us way.

ahiboilandgas:
the problem is the 10 trillion pension funds sitting idle with narrow room to invest, they are willing to accept 2 percent...the Dmo and cbn has found so omo at 13 for fdiand banks by cbn to get forex and manage liquidity ..the dmo do Ntb at 4.2 and saving bond at 6 to grap the pension funds and other idle funds ....now mnc firms are also targeting Nb com paper , dangote bond 11 , flour mills @ 7 so now bank will announce bonds at 9 and suck up cheap money then loan out at 23

Very true Sir.

Let see how this development hels NTB.

Chiscomax:



The way you people are quoting money here when... are you sure that all of us are in same Nigeria?
Make una show us way.

go to covid donation list and see money...rabiu donated 3.3 bn yesterday after 1bn....

cirtapoyat:

My brother I get your point but the question is where do you see the goods to buy now? And how do you bring it to your store except one is a rice seller. I'm open to your advice.

what can you sell let me see where I can point to you.

ahiboilandgas:
go to covid donation list and see money...rabiu donated 3.3 bn yesterday after 1bn....

Ahib Oil and Gas, show us the way...

Chiscomax:


Ahib Oil and Gas, show us the way...

u sabi drive trailer?

meine:


Kid how old are you? Only a baby will gloat when hard working investors hit a rough patch in a depressed economy. I wish not to meet your type in real life. Let me break it down for you, because right now you have a narrow and myopic perspective.

In the medium term there is no gainer or loser in this devaluation game. Its a lose-lose for both the importer and the buyer. Lets assume you make 30% from the current rise in dollar. In few months time you will exhaust your wares and will buy dollar at N500. By the time your goods arrive in Naija dollar might have dropped to N450. There goes part of your profit.

Secondly,in a depressed economy purchasing power of consumers reduces. So if you have been selling 100units of your product before now,you will sell maybe 50 units. Revenue is bound to drop. So there another part of your profit.

Now to the 3rd leg,if you decide not to import anything to protect your profit for some months,you wont record any revenue in those months. You will be trapped. . I know Orile importers who made heavy losses because of Naira appreciaton in 2016. So at the end there is no real winner.

I doff my hat to the fixed income investors here,youve made some margin on your investment. Lets say 10 to 15 percent return. Once you get the principal and capital find other good ways to compound it. Its not a hopeless situation. Ignore this child.

If not that I am one hoarder of the hows to do business,I would have given you a step by step guide on how to milk Nigerian recessions like a don but then,I'm just a tomato seller with 25k capital.Know that and don't expect much from me.
We aren't out to impress no more nwanne,so save your classroom economics for basic cycle kids that needs them
Bye nna.

ahiboilandgas:
u sabi drive trailer?

I can learn that sir. Do you own a filling station?

Chiscomax:


I can learn that sir. Do you own a filling station?

yes

ahiboilandgas:
yes

Okay sir, how to apply?

Theconglomerate:
what can you sell let me see where I can point to you.

Alleluia! are you finally imbibing the spirit of the thread?! Praise the lord!

Theconglomerate:
Inflation is yet to set in or atleast,not to its optimum degree to this new exchange rate.
Trust me it is still coming.
If I were you,I will use all of that naira liquid in my account to purchase now and fill my warehouse and cut my losses now rather than later cos its gonna get worse.

There is only so much you can do , depending on your scale of operations might not be possible to change all funds to dollars or stocks , you will need naira for operational expenses , purchase of some local inputs , salaries , diesel etc

You might need some naira to take advantage of local opportunities that will eventually arise and for emergencies

Even importers will need naira for custom duty , shipping , terminal duties , other clearing charges etc

Buying dollars now at 460 might be risky , nobody knows what will happen , might be lucky if you are an importer and you get your goods down to Nigeria quickly and there is scarcity . Scarcity happens in uncertain times like this because some people will stop importation

All the best to everyone , things definitely not looking good for the economy, hardship and serious inflation due to devaluation is coming if not already here , it’s deja vu all over again

Theconglomerate:
what can you sell let me see where I can point to you.

Electronics, office equipment and computers. It doesn't need to be restricted to these alone. Van be any goods/Products that can hold value and be easily sold.

Chiscomax:


Okay sir, how to apply?

As? What value addition to the business?

cirtapoyat:


Electronics, office equipment and computers. It doesn't need to be restricted to these alone. Van be any goods/Products that can hold value and be easily sold.

modified

rmx:


There is only so much you can do , depending on your scale of operations might not be possible to change all funds to dollars or stocks , you will need naira for operational expenses , purchase of some local inputs , salaries , diesel etc

You might need some naira to take advantage of local opportunities that will eventually arise and for emergencies

Even importers will need naira for custom duty , shipping , terminal duties , other clearing charges etc

Buying dollars now at 460 might be risky , nobody knows what will happen , might be lucky if you are an importer and you get your goods down to Nigeria quickly and there is scarcity . Scarcity happens in uncertain times like this because some people will stop importation

All the best to everyone , things definitely not looking good for the economy, hardship and serious inflation due to devaluation is coming if not already here , it’s deja vu all over again

I didn't say import,I said buy locally from giant merchants(importers) here,all naira transactions.
Buying any commodity in foreign currency is very risky now!!!

[quote author=Theconglomerate post=88970718]I didn't say import,I said buy locally from giant merchants(importers) here,all naira transactions.
Buying any commodity in foreign currency is very risky now!!![/

Ok

True , u can make money that way as most importers or manufacturers have not fully priced in dollar at current rates in there costing

Reminds me of something that happened today , one of my distributors wanted 1000 carton of a particular product We have been rationing because the price was low , told my warehouse mgr to give him 20 cartons as the price would be going up by 15% on Friday 1st May

Ijeoma660:


Was my former colleague at the office.

7E ?

Ehen

OgogoroFreak:
Surely it can but it won't stay there for sure.

Bitcoin for more than 2 years and still made a loss is almost not possible unless you don't know what you are doing.

I'm given u an example. Few bought Btc at 18k since 2017 and it has not even reach that level till date. Btc is good but my point is dont invest all. Cos of newbie. It can hurt them

ahiboilandgas:
As? What value addition to the business?

to drive tank and deliver your products across Nigeria. Can we discuss more in private sir?

Chiscomax:



The way you people are quoting money here when... are you sure that all of us are in same Nigeria?
Make una show us way.

As in eh. Me I go enter here see figures, read and go.

My hand never too reach.

CsRockefeller:


As in eh. Me I go enter here see figures, read and go.

My hand never too reach.

are we not working hard enough?

OgogoroFreak:
warehouse is filled already and I still have a container that can't be shipped into the country now due to lockdown. I invested some Naira in bitcoin too and that investment was the best move. If I had known, I would have invested all my naira but that didn't seem like a smart move to me then.

Right now my new decision is never to keep upto even a million in Naira in my bank account. I will always make sure my money stays in dollar.

Where do you buy your bitcoin from please?
And where to sell to?
I’m still looking for a convenient way of buying.

Chiscomax:


are we not working hard enough?

My brother, being hardworking is relative.

Being an employee in Lagos isnt easy.