OgogoroFreak:
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 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.

That's right.

emmanuelewumi:



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

The way he put it might not be the best but many people share in his pessimism.
We are not doing anything as a country to make things better but that does not mean an individual cannot improve his life in this country

As long as we run a mono product economy, things will most likely remain the same and our currency will continue to depreciate.

In 2014, our foreign debt was below 10 billion dollar and fast forward to 2020 the foreign debt is about 27 billon dollar despite the fact that we have not been able to improve our revenue in any significant way.

For the past four year we have been using more than 50% of our revenue to service our debt. With current price of oil and the ravaging pandemic,we might be spending close to 90% of our revenue to service our debt this year. Who does that as an individual or organization and survive?

The bottom line is that the country is not moving forward but individual should take responsibility and make decision that will better his/her life.
Diversifying our assets base to include dollar denominated ones will not be a bad idea.
If anyone thinks naira will appreciate from the present official rate of N360, the person might be living in hopeville.

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.

Logo, some few days ago you were excited about the falling value value of the Naira.

Now you're sounding optimistic and all that.

Abeg, wetin you hear/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 a good assertion about our "dearly" beloved country. At least some of us are still in our early thirties and praying earnestly that the country gets better.

Please, don't make us lose the little hope we have on our country. Things might be as we so desire, but let is learn to speak positive words about our country. Thank you my Oga.

Your boy is still learning.

Please, based on the advised I received from some of our ancestors here, I have decided to shift my small savings from Microfinance bank. I'll be glad to have our big bosses mentor me on the way forward.

I have sent PM to Oga Ahiboilandgas. Would send to Oga Emmanuel as well. I need to start planning for my future and that of my family.

hollerbaby:


I thought there is restrictions on internal travels

This was in 2016, not now

ahiboilandgas:
dont worry try and get addicted u will grow ....i was doing fixed deposit too of 800k in 2007...

Alright sir

Theconglomerate:
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.

And you know what and what he is doing? You seem emotional about this argument to the extent of making assumptions for what people do or don’t do.

froszzie:


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

still open for suggestiob

Yeah! If your channel has good enough value, in time you can be making serious bank.

emmanuelewumi:



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

You are making assumptions on his behalf yet again. What people decide to say has nothing to do with what they do. Just because people say the country is bad doesn’t mean they are not making money to beat the market or whatever loss of value the country throws at them. You are too emotionally invested in your opinion, which is clouding your statements.

pluto09:



The way he put it might not be the best but many people share in his pessimism.
We are not doing anything as a country to make things better but that does not mean an individual cannot improve his life in this country

As long as we run a mono product economy, things will most likely remain the same and our currency will continue to depreciate.

In 2014, our foreign debt was below 10 billion dollar and fast forward to 2020 the foreign debt is about 27 billon dollar despite the fact that we have not been able to improve our revenue in any significant way.

For the past four year we have been using more than 50% of our revenue to service our debt. With current price of oil and the ravaging pandemic,we might be spending close to 90% of our revenue to service our debt this year. Who does that as an individual or organization and survive?

The bottom line is that the country is not moving forward but individual should take responsibility and make decision that will better his/her life.
Diversifying our assets base to include dollar denominated ones will not be a bad idea.
If anyone thinks naira will appreciate from the present official rate of N360, the person might be living in hopeville.

Thanks for this post. It was last year and last 2 years we had this argument with some people here. There were some “experts” with all sorts of theories here. Where are they now? 460 naira to a dollar later, they are nowhere to be found.

I kept saying insanity is doing the same thing over and over again and expecting different results.

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.

What is the capacity of Dangote refinery? Do you think a single refinery can serve the entire Nigeria? Lol.. Naira is not going below 360 till 2023.. you can take that to the bank

chigo4u:

What is the capacity of Dangote refinery? Do you think a single refinery can serve the entire Nigeria? Lol.. Naira is not going below 360 till 2023.. you can take that to the bank

You were kind enough not to even say 400 naira to a USD. Lol!

GonFreecss1:



Thanks for this post. It was last year and last 2 years we had this argument with some people here. There were some “experts” with all sorts of theories here. Where are they now? 460 naira to a dollar later, they are nowhere to be found.

I kept saying insanity is doing the same thing over and over again and expecting different results.

Did anybody in the world predict Covid-19 then?.

kintus:


Not a good assertion about our "dearly" beloved country. At least some of us are still in our early thirties and praying earnestly that the country gets better.

Please, don't make us lose the little hope we have on our country. Things might be as we so desire, but let is learn to speak positive words about our country. Thank you my Oga.

Your boy is still learning.

Please, based on the advised I received from some of our ancestors here, I have decided to shift my small savings from Microfinance bank. I'll be glad to have our big bosses mentor me on the way forward.

I have sent PM to Oga Ahiboilandgas. Would send to Oga Emmanuel as well. I need to start planning for my future and that of my family.

u frist assignment is to read the tonnes of massages here and digist it ....this can fetch u a nairaland MBA

Invest in haulage truck business

We need 30ton side body trucks to the load to various locations Asap

This is the available orders we have now.
Lacasera Mile 2- Kano 300k
Lacasera Mile 2-Abuja 200k
Lacasera Mile 2- Aba 150k
Lacasera Mile 2- Benin 100k
Lacasera mile 2- Ibadan 50k
Lacasera Mile 2- Warri 130k

Contact me on 07037068285

GonFreecss1:


You were kind enough not to even say 400 naira to a USD. Lol!

It’s crazy. Nigeria has lost over $30b defending The Naira since 2017 and someone thinks naira will fall to 300-330 by next year, because of some Dangote refinery that no one even knows when operations will begin.

jewery:
Invest in haulage truck business

We need 30ton side body trucks to the load to various locations Asap

This is the available orders we have now.
Lacasera Mile 2- Kano 300k
Lacasera Mile 2-Abuja 200k
Lacasera Mile 2- Aba 150k
Lacasera Mile 2- Benin 100k
Lacasera mile 2- Ibadan 50k
Lacasera Mile 2- Warri 130k

Contact me on 07037068285

why?when we carry kano for 855,000 naira for 45000 litre....300 k where is the profit are u joking or what ....trucks or j5 bus

chigo4u:

It’s crazy. Nigeria has lost over $30b defending The Naira since 2017 and someone thinks naira will fall to 300-330 by next year, because of some Dangote refinery that no one even knows when operations will begin.

what is the use of dollars if not to defend the naira ,and provide reasonable fair exchange rate ...are we taking the reserve to haven..have u been to the dangote refinery? Is not the fertilizer section is complete and has employed 2000 people my relative got a nice position and has resumed on a 6m naira annually salary....we now produce 100 percent our fertilizer needs and indorama even exported excess last year...once we cut out all the major consumer of our dollars ....petrol ,cement ,fertilizer,flour,sugar, medical tourism, school fees ....it only equipment that will be imported why woudnt the naira stabilze

Cc emmenuelelewunmi, ahiboilandgas, sholapey

I work and live in the UK, before now my plan was to convert all extra pounds to naira which is to be invested in my MMF account monthly and using 20 percent of what i have in my mmf account to increase my holdings in zenith and uba shares during September/ October bear periods in NSE market ( stock investment plan is for long term except if i acheive 150 percent gain then i can sell off to buy again when stocks fall )

Q1. With naira struggling at the moment do you think i should continue with my plan or hold on to forex till tbills and mmf rate increase?

Q2. Do you as a long term stock investor sell at all irrespective of how much percent gain you get as long as fundamentals remain solid and if you sell, is my 150 percent exit target ok or you think 200 percent is not bad.

Q3. Please how do you deal with omo onile problem when buying lands. I have heard nasty experiences from friends and family members.

N.B please pardon my ignorance, the enlightenment in business and finance management i have is being acquired here and on NSEMPA nairaland thread.Thanks

ahiboilandgas:
why?when we carry kano for 855,000 naira for 45000 litre....300 k where is the profit are u joking or what ....trucks or j5 bus

wow

GonFreecss1:


You are making assumptions on his behalf yet again. What people decide to say has nothing to do with what they do. Just because people say the country is bad doesn’t mean they are not making money to beat the market or whatever loss of value the country throws at them. You are too emotionally invested in your opinion, which is clouding your statements.

Different strokes for different folks.


It is not coherent, when I say a place is bad and will continue to get worse and telling people this. Whereas I am still investing in the so called bad place and also making money in that so called bad place .

emmanuelewumi:



Different strokes for different folks.


It is not coherent, when I say a place is bad and will continue to get worse and telling people this. Whereas I am still investing in the so called bad place and also making money in that so called bad place .

no ...the disorganization brings about the oppurntiies to make money....imagine is clearing from the port was seamless and can be done easy on phone like we buy car from auctions and send to Nigeria....what will happen to all those millionaires like emoney of 5 star shipping ....or imagine if their was electricity 24 what would happen to amazuma oil that supply glo base stations ...

ahiboilandgas:
what is the use of dollars if not to defend the naira ,and provide reasonable fair exchange rate ...are we taking the reserve to haven..have u been to the dangote refinery? Is not the fertilizer section is complete and has employed 2000 people my relative got a nice position and has resumed on a 6m naira annually salary....we now produce 100 percent our fertilizer needs and indorama even exported excess last year...once we cut out all the major consumer of our dollars ....petrol ,cement ,fertilizer,flour,sugar, medical tourism, school fees ....it only equipment that will be imported why woudnt the naira stabilze

If he is so confident that the naira will hit another low,let him buy now at 455 and keep to sell next year when it will reach 1000 na according to them
It's like some of them want to lose their life savings with this nonsense economics.
If you can cash out of this depreciation,please go ahead but don't be too confident as it won't last.
Cash out now and make a good exit plan from the fx market when it's about to collapse again cos it will happen.

ahiboilandgas:
no ...the disorganization brings about the oppurntiies to make money....imagine is clearing from the port was seamless and can be done easy on phone like we buy car from auctions and send to Nigeria....what will happen to all those millionaires like emoney of 5 star shipping ....or imagine if their was electricity 24 what would happen to amazuma oil that supply glo base stations ...

We have problems in Nigeria. I believe an enterpreneur should be ready to solve problems and make money by solving the problems.

Theconglomerate:
If he is so confident that the naira will hit another low,let him buy now at 455 and keep to sell next year when it will reach 1000 na according to them
It's like some of them want to lose their life savings with this nonsense economics.
If you can cash out of this depreciation,please go ahead but don't be too confident as it won't last.
Cash out now and make a good exit plan from the fx market when it's about to collapse again cos it will happen.

Some speculators have not been able to break even from the losses they suffered about 2 years ago

emmanuelewumi:




Some speculators have not been able to break even from the losses they suffered about 2 years ago

Them no dey ever gree na till it happens.
Na to just dey look them sha
The same arrogance I saw in 2016 is what I am seeing now.
Naira is shìt,Nigeria is that,but small CBN injection everyone starts pissing their pants.

Topson88:
Cc emmenuelelewunmi, ahiboilandgas, sholapey

I work and live in the UK, before now my plan was to convert all extra pounds to naira which is to be invested in my MMF account monthly and using 20 percent of what i have in my mmf account to increase my holdings in zenith and uba shares during September/ October bear periods in NSE market ( stock investment plan is for long term except if i acheive 150 percent gain then i can sell off to buy again when stocks fall )

Q1. With naira struggling at the moment do you think i should continue with my plan or hold on to forex till tbills and mmf rate increase?

Q2. Do you as a long term stock investor sell at all irrespective of how much percent gain you get as long as fundamentals remain solid and if you sell, is my 150 percent exit target ok or you think 200 percent is not bad.

Q3. Please how do you deal with omo onile problem when buying lands. I have heard nasty experiences from friends and family members.

N.B please pardon my ignorance, the enlightenment in business and finance management i have is being acquired here and on NSEMPA nairaland thread.Thanks

What is the size of your fund?

Why do you want to invest in Naira denominated investments?

Why the stock market?

Do you have any experience investing in the stock market?

If yes how long have you been investing in the stock market?

emmanuelewumi:





We have problems in Nigeria. I believe an enterpreneur should be ready to solve problems and make money by solving the problems.

i was with a cat fish farming he told me he sells over 100k daily ,he told me he has several sale points he supplies pver 20 froozen chick shops including 3 of his ...the net daily profit is over 40k that he can never relocate to canada

If ur fund size is small 1naira -5m and u have time ,determination,dexterity then fixed income investements is not your...u better run /invest a sme , this will help your grow your capital ,skill,and knowledge faster... the owner of L AND Z DAIRY started like play play ..now the even imported bulls for milking from holland ...and earn from the entire value chain....there fresh milk is on shelfs of shorprites while production is done over 1000km away ....if c way water can generate money selling bottle water...funds for investments come from enterprise,salary,saving etc not the other way round....

ahiboilandgas:
i was with a cat fish farming he told me he sells over 100k daily ,he told me he has several sale points he supplies pver 20 froozen chick shops including 3 of his ...the net daily profit is over 40k that he can never relocate to canada

Some of the folks who move to Canada aren't moving because of lack of money. Indeed, some of the people who move had well paid jobs. There's just a sense of despair that a lot of people have in the future of Nigeria. You can have money and die due to medical negligence and no one gets punished. I'm not saying it doesn't happen outside Nigeria but there's a fair chance of restitution. A lot of people say they do it for their kids. Quality healthcare, education, security etc.

To travel to Canada or not to travel always has a way of creeping up all the time. Let each man do what suits him.

If u got 2m and no job or sme that produce that 2 million..u cant just buy bond and be jobless or careerless and depend on 15k per month....you invest an sme they from profits and excess u sink into tb ,bonds and shares ....if going forward the sme need expansion u liquidated the bond to expand if not u get income both ways
..sme and coupons