kaze4blues:
With respect to insurance for agric tech, except otherwise stated, it is highly likely that only a proportion of the capital will be returned if things go wrong.

Hence, it is better to clarify before making investments with them if your risk appetite is low.

I initiated conversation with another agric tech, farminvest. I asked about details of their insurance policies.

I even asked about the policy number for verification. The contact person quickly responded that the project is still pending completion.

Now there is nothing wrong in not wanting to divulge sensitive information, the key word is once again not to invest the amount you can't afford to lose.

I notice how they are quick to put the name of one Mr. faleke as the contact person at NAIC.

This itself appears suspicious to me.

If anyone has a trusted contact at naic, it will be better to seek more information about these agric tech and their insurance claims with naic.

We also need to find out the powers of NAIC under law

And lastly, there is a disclaimer that they (the company) will not be responsible for any shortfalls in expectations with respect to investments.

So if a farm yields lower than expected, they are not to be held liable for any loss arising from that.

Lessons from transberg still abound. Investors lost huge amounts of money when the company folded up less than one year of commencing business.

Meanwhile I have friend who invested with an agric tech and got his payment as at when due.

I'm not just willing to risk it all.

you are right . especially with respect to these ones Farminvest

Tvegas:
CBN has clarified that it wont defend naira for non essential products anymore. Buhari had some major influence on past decisions to defend the naira. Theyve learnt their lessons trust me they wont make thesame mistake again. Truth is nothing is certain anymore even Dangote Refinery may not be sufficient to help the Naira.

After COVID any smart investor should never say never.

This is exactly what I think too! Time will tell, we will all be here to see how things play out.

chigo4u:

You are very right. Buhari is the major reason why cbn is insisting on defending The Naira. He has strong views on keeping The Naira low against the dollar (if you follow his campaign) that’s why Emefiele did everything possible to defend The Naira and even got a another term. It will only take Buhari changing his stance to devalue The Naira, and the new Chief of Staff May play a role, that’s if he becomes as powerful as the former.
All the talks about Dangote refinery is just noise, I don’t see Dangote refinery having any major impact on the exchange rate, that was same noise they made about rice! No one can even tell when that refinery will start functioning

Well said!

froszzie:
hey guys
intresting thread
i found this thread this late, why?
c-19 has signaled me to think towards investment this time
please gurus in the house keep updating the house.. i am looking out for business opportunities also a juicy investment opportunity.

in between guys... is there anything i can do with my data? i have 40gig data on my phone besides i enjoy unlimited glo and mtn wifi on my laptop and phones... i dont really do something meaningful with all these, i mean financial wise.... only facebook and nairaland

plz guys make una suggest for me, legitimate plz... no fraud, no yahooing

Do you like making videos? You could start a Youtube Vlog. Vlog about something you are passionate about or like doing.

missjekyll:


I beg to disagree on this. The next lockdown will be imposed by people on themselves,when they see people keeling over left right and centre. I have never seen derangements in how the human body works as I am seeing with this virus.
This virus will be studied in medical schools till the end of time. We will still be talking about it in a 100 years time. Stock up foodstuffs and hunker down . It will be a long wait.

You understand! This is why it worries me about how people are underestimating this virus.

chigo4u:

You are very right. Buhari is the major reason why cbn is insisting on defending The Naira. He has strong views on keeping The Naira low against the dollar (if you follow his campaign) that’s why Emefiele did everything possible to defend The Naira and even got a another term. It will only take Buhari changing his stance to devalue The Naira, and the new Chief of Staff May play a role, that’s if he becomes as powerful as the former.
All the talks about Dangote refinery is just noise, I don’t see Dangote refinery having any major impact on the exchange rate, that was same noise they made about rice! No one can even tell when that refinery will start functioning

Reports show that Nigeria use to spend up to 300-400m dollars anually on rice imports when it was still legal.
Same reports say Nigeria spends between 7-10 billion dollars(subsidy inclusive) anually on petroleum imports.
So are you saying the effect of taking off a $400m forex demand and that taking off a $10B fx demand from the Nigeria economy will have the same stress pattern(effect) on local currency?
Don't you see that Dangote refinery will crush approximately a $10B fx demand anually the moment it goes operational?
Take away that demand and dollar will drop immediately.
I personally is looking at an exchange rate of N300-330/$1 come next year.

Theconglomerate:
Reports show that Nigeria use to spend up to 300-400m dollars anually on rice imports when it was still legal.
Same reports say Nigeria spends between 7-10 billion dollars(subsidy inclusive) anually on petroleum imports.
So are you saying the effect of taking off a $400m forex demand and that taking off a $10B fx demand from the Nigeria economy will have the same stress pattern(effect) on local currency?
Don't you see that Dangote refinery will crush approximately a $10B fx demand anually the moment it goes operational?
Take away that demand and dollar will drop immediately.
I personally is looking at an exchange rate of N300-330/$1 come next year.

Nigeria is not getting better anytime soon if at all. People should stop all these unnecessary "hope" they are having.

Nigeria will surely get even worst, so plan accordingly.

Theconglomerate:
I don't understand what you mean.
Care to share?

It does seem like a lot of risk to take.

OgogoroFreak:
Nigeria is not getting better anytime soon if at all. People should stop all these unnecessary "hope" they are having.

Nigeria will surely get even worst, so plan accordingly.

If that is the case, stop buying Treasury Bills, Money market funds, FG bonds, Corporate bonds, real estate in Nigeria.

If possible sell your business in Nigeria, and migrate out of this zoo . Since you know things will always get worse

emmanuelewumi:



If that is the case, stop buying Treasury Bills, Money market funds, FG bonds, Corporate bonds, real estate in Nigeria.

If possible sell your business in Nigeria, and migrate out of this zoo . Since you know things will always get worse

This is synonymous with saying because we will all die one day, why not kill yourself now. That logic can’t work.

Theconglomerate:
Reports show that Nigeria use to spend up to 300-400m dollars anually on rice imports when it was still legal.
Same reports say Nigeria spends between 7-10 billion dollars(subsidy inclusive) anually on petroleum imports.
So are you saying the effect of taking off a $400m forex demand and that taking off a $10B fx demand from the Nigeria economy will have the same stress pattern(effect) on local currency?
Don't you see that Dangote refinery will crush approximately a $10B fx demand anually the moment it goes operational?
Take away that demand and dollar will drop immediately.
I personally is looking at an exchange rate of N300-330/$1 come next year.

I do hope you are already putting your money where your mouth is.

It will definitely be an interesting year.

missjekyll:


It does seem like a lot of risk to take.

Sure it is but it doesn't make it impossible.
People do it every single day.

GonFreecss1:


This is synonymous with saying because we will all die one day, why not kill yourself now. That logic can’t work.

His conclusion is that things will get worse in Nigeria.


So what is the way out, if you have given up on a place?

The best thing is to do the needful. Which he suggested by making adequate plans


You can't keep on investing in a place you have lost every hope on

OgogoroFreak:
Nigeria is not getting better anytime soon if at all. People should stop all these unnecessary "hope" they are having.

Nigeria will surely get even worst, so plan accordingly.

I am not one for "hope".
I analyse and predict with facts and figures at hand.
If you think Nigeria will get worse,please by all means, use all your naira and buy dollars to hedge with at this current price na.
After all,it can only get worse

emmanuelewumi:



If that is the case, stop buying Treasury Bills, Money market funds, FG bonds, Corporate bonds, real estate in Nigeria.

If possible sell your business in Nigeria, and migrate out of this zoo . Since you know things will always get worse

Some people make more money in a "bad" country than in a good country. I am one of them. If not, I won't be in Nigeria.

Today, alot of people are going into freelancing because the peanut they get there now makes alot of sense when converted to Naira. Some even make more than 70% working class graduates in Nigeria. Someone makes ordinary $500 after a whole month and that already equals ₦225,000. How many graduates earn upto that?

emmanuelewumi:




His conclusion is that things will get worse in Nigeria.


So what is the way out, if you have given up on a place?

The best thing is to do the needful. Which he suggested by making adequate plans

Things getting worse could be more inflation or a worse exchange rate. Not necessarily armageddon-like situations where he just has to up and leave.

GonFreecss1:


I do hope you are already putting your money where your mouth is.

It will definitely be an interesting year.

Of course.
I already have blueprints on how to put what,where,when and how.
Trust me,nothing ever comes as a surprise to me

GonFreecss1:


Things getting worse could be more inflation or a worse exchange rate. Not necessarily armageddon-like situations where he just has to up and leave.

More inflation makes his Tbills benefits useless na,so why still make naira investments when he knows things can only get "worse" in this context?

Theconglomerate:
Of course.
I already have blueprints to put what,where,when and how.
Trust me,nothing ever comes as a surprise to me

All the best!


Your optimism is an inspiration, and deep down I want to see some of the things you say come true, but Nigeria has disappointed me many times, I don’t pick sides again. I just do things that will favor me in any extreme good or bad.

OgogoroFreak:
Some people make more money in a "bad" country than in a good country. I am one of them. If not, I won't be in Nigeria.

Today, alot of people are going into freelancing because the peanut they get there now makes alot of sense when converted to Naira. Some even make more than 60% working class graduates in Nigeria.

But you do fixed income in naira.
So you see that even your actions contradicts what you say
Maybe your inner man believes in the country involuntarily.

Theconglomerate:
More inflation makes his Tbills benefits useless na,so why still make naira investments when he knows things can only get "worse" in this context?

He might have a business or investments that make more and beat the naira depreciation. Why are we assuming he does only Tbills?

emmanuelewumi:




His conclusion is that things will get worse in Nigeria.


So what is the way out, if you have given up on a place?

The best thing is to do the needful. Which he suggested by making adequate plans


You can't keep on investing in a place you have lost every hope on

That is the way you understand it, good for you.

GonFreecss1:


He might have a business or investments that make more and beat the naira depreciation. Why are we assuming he does only Tbills?

If he is so sure,why don't he divert all of that capital in fixed income to those businesses that beats depreciation then?
Because that is what any financial savvy human will do when he is sure that local currency is going to the dogs.
Why make more naira investments especially in fixed income when he believes the economy and currency is definitely going south?
It just don't add up.

GonFreecss1:


All the best!


Your optimism is an inspiration, and deep down I want to see some of the things you say come true, but Nigeria has disappointed me many times, I don’t pick sides again. I just do things that will favor me in any extreme good or bad.

Not really.
Optimism is not my thing,logic is.

OgogoroFreak:
Some people make more money in a "bad" country than in a good country. I am one of them. If not, I won't be in Nigeria.

Today, alot of people are going into freelancing because the peanut they get there now makes alot of sense when converted to Naira. Some even make more than 70% working class graduates in Nigeria. Someone makes ordinary $500 after a whole month and that already equals ₦225,000. How many graduates earn upto that?

Reason why I suggested relocation, rather than having an endless hope

Theconglomerate:
More inflation makes his Tbills benefits useless na,so why still make naira investments when he knows things can only get "worse" in this context?

Not at all.

After I used bitcoin to make huge profit and excape that crazy devaluation, it makes sense to me to still fetch some more Naira with the money by putting it in MMF which I recently opened

GonFreecss1:


Do you like making videos? You could start a Youtube Vlog. Vlog about something you are passionate about or like doing.

all those "subscribe to my channel" kinda thing? not bad though
thanks alot

still open for suggestiob

GonFreecss1:


He might have a business or investments that make more and beat the naira depreciation. Why are we assuming he does only Tbills?

If you have assets and Investments that beats inflation and currency devaluation, why then say the country is hopeless and thingy will continue to get worse.



A typical market place is rowdy and noisy, as a businessman or trader we should be less concerned about this, but concerned about the money we will make from the market

emmanuelewumi:



Reason why I suggested relocation, rather than having an endless hope

There are things I do as a business man here in Nigeria that I can't dare try in a sane country. So someone like me is not even having "hope" or praying that Nigeria gets better.

OgogoroFreak:
Not at all.

After I used bitcoin to make huge profit and excape that crazy devaluation, it makes sense to me to still fetch some more Naira with the money by putting it in MMF which I recently opened

It makes sense to stay on a sinking ship?
What you should be doing now according to your logic is moving all your naira to foreign currency and wait for the next wave of depreciation and reroute the money back to naira na,since things only get worse.
Lol,a lot of people will be in for a surprise just watch and see.

OgogoroFreak:
There are things I do as a business man here in Nigeria that I can't dare try in a sane country. So someone like me is not even having "hope" or praying that Nigeria gets better.

Not only the things you do here as a business man,no no.
The moment you relocate,you stop spending in naira so all that depreciation benefits dissapear
You might be shocked that all you thought you have won't last you a year
That's why many people don't relocate,nothing else.
If it was because of the "things" you do here you can always hire someone to do the things you do here for you and use several technologies to monitor them from overseas while you live in a sane country na
There is zoom,Skype,whatsapp,mobile phone,mobile apps,whatever,etc...that you can always use to run your business from anywhere in the world.

Theconglomerate:
It makes sense to stay on a sinking ship?
What you should be doing now according to your logic is moving all your naira to foreign currency and wait for the next wave of depreciation and reroute the money back to naira na,since things only get worse.
Lol,a lot of people will be in for a surprise just watch and see.

It is not a sinking ship to me, that's the point. And the devaluation is to my own benefits too. Let me explain.

I have a foreign bank account linked to my PayPal account. I use it for shipping and also buy dollars very cheap from freelancer. So orna exchange rate from Aboki, no concern me. I also have a team of programmers here in Nigeria that I source most jobs for abroad, I get paid in $ while I pay them in ₦.

I don't keep much Naira in Nigeria unless I want to buy tbills and use the interest for something or even pay salaries with.

These are some of the things I meant by plan accordingly.