Badgers14:


Well said, the problem with investing in Nigeria is uncertainty. Although this comes with the territory but Nigeria's level of uncertainty is times 1000x.

...........
I once had an idea together with some partners to start up a waste management style of company. Waste management is big company in the U.S and possibly multinational.

Got funding to start up, partners all lined up every thing all straightened out but the government authorities from state to the councilor, everyone wants to be settled, one even want in on the profit like a decent size cut, I thought he meant he wants to buy in as a partner but even as a local man like myself that grew up in 9ja, I was dumbfounded when he said, that’s his share. O boy, I was very furious which kind talk be that?? Are you normal?
Whenever I am in Nigeria, all I am seeing is money money opportunities opportunities but people are focused on "oyel" oil oil.

Waste management is multi billion dollar corporation in the U.S.

The uncertainty is just too much. The housing projects I am involved in, I just close eye to do it, the rate prices increases is just ridiculous!

Dijita:


Thank you and God bless.
My kobo kobo project is been handle by my sister and the husband who is a supplier. Thanks to this site and the professionals here I am educated and get help in cutting down on price quotations. Unlike in the beginning of the project where I was been told the price of things which I later discover to be way higher than stated, now I just quote the price I got from here and told them that if there supplier can't meet the price I will call my own guy to deliver at this price. I will then add extra money for effort. In this particular instance here I added 30k .
Just in case some people are wondering, I am not just taking I patronize people here as well. I got my architect from here and have done about#300,000 business with him. I hope to patronize others in the future

EgunMogaji2:


Read up on the Arole curse.

To me it explains a lot on the lack of cooperation between the yorubas.

Take just this thread for example, we have all the building trades represented. A Chinese or Mexican person in the USA will harness the power and form a collective.

That finance companies are not on here befuddles me.

Someone will post that they have land and want to build.

Shebi that’s a direct opportunity for a finance company to help secure a COFO which they’ll hold and they fund the build in stages. With a good down payment and qualified property and owner. This is my next destination! I know it’s possible.

I think about some of these things but then I’m reminded by my partner that I came to Nigeria to retire

Focusmind:


Opportunities abound but fear of risk and uncertainty is holding people down. Take a global perspective, a lot of investors sees Nigeria as a good place to invest but fear of unknown makes the final investment decision impossible or delayed

A finance company in London, where a friend works did an investment survey and found the Nigerian market buoyant, but fear of uncertainty and country risk were too high that they jettisoned the idea.

To tell you how far foreign investors takes risk seriously, they follow citizens discussions about the country on their own social media. They followed Nigeria and Nigerians to get perspectives and views about the people and the country. Some are even registered on Nairaland.

jajeri3216:


Should i upload the video on YouTube and post it here?

I'm very grateful for your help.

Badgers14:


Well said, the problem with investing in Nigeria is uncertainty. Although this comes with the territory but Nigeria's level of uncertainty is times 1000x.

Think of building a house, even if you secure a loan to put up a project, dollar will move from N350 to N351 and 1 bag of cement will jump from N2,000 to N2,900. Even our mothers selling pumpkin leaves , pepper and tomatoes will jack up the prices by 100%.

The level of price inflation in Nigeria is beyond economics. You can't plan for nothing, price increase here and there...

Also, you hire someone for a job, they start work and then in the middle stops to renegotiate their contract, then skips town.. you have to chase them around to come and complete the job sometimes involve police, kinsmen etc. And remember if you took out a loan for the project, while you were chasing the person around, materials are adding money, your interest is piling up and you might end up hiring another person to finish the job, project will end up over budget and the loan would finish before the project is completed because of numerous uncertainties.

Doing a project in Nigeria is just like open up your wallet and spend until it is completed.. don't even stop to think economics, economics of scale, all those things you learnt on economics 101 doesn't work in Nigerian setting. I am yet to do a housing project in 9ja where I purchased cement and rod the same price from start of the project to finish .


I once had an idea together with some partners to start up a waste management style of company. Waste management is big company in the U.S and possibly multinational.

Got funding to start up, partners all lined up every thing all straightened out but the government authorities from state to the councilor, everyone wants to be settled, one even want in on the profit like a decent size cut, I thought he meant he wants to buy in as a partner but even as a local man like myself that grew up in 9ja, I was dumbfounded when he said, that’s his share. O boy, I was very furious which kind talk be that?? Are you normal?
Whenever I am in Nigeria, all I am seeing is money money opportunities opportunities but people are focused on "oyel" oil oil.

Waste management is multi billion dollar corporation in the U.S.

The uncertainty is just too much. The housing projects I am involved in, I just close eye to do it, the rate prices increases is just ridiculous!

Dijita:


Thank you and God bless.
My kobo kobo project is been handle by my sister and the husband who is a supplier. Thanks to this site and the professionals here I am educated and get help in cutting down on price quotations. Unlike in the beginning of the project where I was been told the price of things which I later discover to be way higher than stated, now I just quote the price I got from here and told them that if there supplier can't meet the price I will call my own guy to deliver at this price. I will then add extra money for effort. In this particular instance here I added 30k .
Just in case some people are wondering, I am not just taking I patronize people here as well. I got my architect from here and have done about#300,000 business with him. I hope to patronize others in the future

micgray100:
.
this is serious... firstly, check if the corner side is made of just blocks or pillar ...
if pillar, it can be amended easily... if is block... that is differential settlement...
Engage the service of an experience bricklayer... he will have to chisle out the crack and pour lean concrete to fill to brim...

jajeri3216:
Hello house , there's a crack on the wall which is causing me corncerns.

Is this crack suggesting structural issues?

michlins:
Good evening everyone. I hope you're all well. I need the help of the house. I need to buy a welding inverter and I don't know a thing about it. The welding machine I have been using is the usual one but because of mobility and need to upgrade myself, I need to buy the inverter.

I need something that will weld between 4mm and 6mm metal. Which inverter is best for me and which generator do you recommend. I'm willing to pay someone to buy it for me in and around Lagos and waybill to me down to Nnewi.

@egunmogaji2 I like that one you uploaded the picture sometime ago

n3xt:


Like seriously

Inverter welding machines are everywhere over here and ridiculously cheap too.

Prices start from 28k and they’re very durable.

saydfact:


ORO OPOLO

In 2002 (before corona ),things were better...

michlins:
I can easily walk into the market and get something but I don't know a thing about them. If it were normal welding machine, I know what I want but this is totally new to me

n3xt:


Like seriously

Inverter welding machines are everywhere over here and ridiculously cheap too.

Prices start from 28k and they’re very durable.

horlorbah:

Can I send you a message sir? I would love to ask some questions. Thank you.

n3xt:


Yes you can sir but why not here though.

Pls don’t send me nairaland pm o
Whatsapp +2348023429122

jaytime:
https://www.nairaland.com/5118224/use-noggin-pop-ceiling-not
House, I would like to create a discussion around this.

n3xt:


Let me link you up with my welder using it so you can ask him all you need to know.

twinskenny:
Call us for

Electrical, Cctv, Audio system, electric fence..

Check our thread for various ongoing projects

https://www.nairaland.com/5681155/electrical-audio-system-cctv-fire/36#96033467

One4me:


I stand to be corrected, that picture is an Arc Welding Machine.
Not an Inverter Welding machine or did l miss something?

n3xt:


Maybe I’m wrong but this is ‘Arc Welding Machine’ in the picture below though.

They both look alike but they’re different. There’s even a palm-size model. I’ll try get pics and update this post later on.

michlins:
this is exactly why I need help with it. I see some foreign used ones around here and brand new ones but I don't know which one is better

michlins:
N3xt the way that welder is joining those channels no be am or maybe I'm not seeing that well.
You join them in an "Z" form. Let's say it's a 6 by 4 channel, you will have to cut one tip of the channel by 3 by 6. Like eh, you divide the middle of the channel by 2 and then cut it by the width. That way, it's more resistant to breaking than joining it end to end in an "I" form. I don't have the pictures to show you what I mean but maybe later today, I will have to draw it out on a piece of paper.


My 2 cents

n3xt:


The one in the last pic requires very BIGGGGG generator.

The earlier one posted can be powered using 5kva generator.

I’d use the latter machine when welding thicker gauge. The inverter welding machine will do every household job (doors, gates, tank towers, etc)

n3xt:


Thanks. Information well received.

Focusmind:


Opportunities abound but fear of risk and uncertainty is holding people down. Take a global perspective, a lot of investors sees Nigeria as a good place to invest but fear of unknown makes the final investment decision impossible or delayed

A finance company in London, where a friend works did an investment survey and found the Nigerian market buoyant, but fear of uncertainty and country risk were too high that they jettisoned the idea.

To tell you how far foreign investors takes risk seriously, they follow citizens discussions about the country on their own social media. They followed Nigeria and Nigerians to get perspectives and views about the people and the country. Some are even registered on Nairaland.

michlins:
I need the one small petrol generator can power because it's energy efficient and I don't need to be carrying big generator up and about. That suffering has to stop.

I for buy start and weld but those things are like ogbanje. You can get to a site and it will start up fine but can't weld. The mechanic will tell you it's the welding diode a d that you will have to go to Onitsha to know if you can find a compatible one. Onitsha will tell you maybe Lagos go get am and if your village people really want something from you, Lagos go tell you say e no dey.
Happened to a friend of mine. He didn't use the machine to make one kobo

diordaves:


If we, Nigerians don't invest first in the country, it is foolhardy to expect foreign investors to troop in droves. Nigeria is a big market but not economically bouyant. The average personal income (purchasing power) is low.

When it comes to the internal investment climate with regards to uncertainty, there's only one 'thing' that is holding the nation down: EXCHANGE RATE POLICY.

Not kidnappers, not corrupt politicians, not bad roads, not adequate power supply, not lack of fiber optic ( broadband). These are the symptoms of lack of internal investment. The cause of our ailment is the poor and incompetent management of the Naira rate against international currencies - the Naira rate to the Dollar. This started from the Structural Adjustment Program (SAP).

I will give you a very practical and familiar example - myself. I'm in the Diaspora investing in Nigeria so I am a foreign investor. Abi no be so.

Now (For example) I have a property with long term tenants that gives me N5 mil per annum in rent. During President Goodluck Jonathan's regime, the average Naira exchange rate to the GBP was stable at N300. Then, I repatriate £16,000 per annum back to Britain from rental income.

As I type, the Naira to Pound rate is 600. So now I repatriate £8,000 from the same investment. That's about half of my income gone into thin air for no practical or business management reasons. Just government incompetence that I have no control over. Absolutely nothing I can do other than to increase rent. If I do this, the tenants (traders) will transfer the increase into the price of their products and poverty is let loose over the country. This is the situation we are in since SAP.

Now you can see if I were a property foreign investor like for example airline company (Virgin Nigeria), Dunlop, Bata, A.G Leventis, Layland, Volkswagen, Peugeot etc that are mandated to repatriate funds home for their shareholders overseas, what do you think they will do? With a dwindling income not from lack of trading but from the inability of the government to stabilize the exchange rate, they will do what they did - close shop and unleash unemployment. This is what is happening in Nigeria. The foreign exchange regime or lack of foreign exchange regime is killing Nigeria slowly but surely.

Any administration that can stabilize the exchange rate for two terms, Nigeria will be better. Nigeria's biggest problem is not corruption, but lack good governance and competent institutional managers of the polity (economy).

EgunMogaji2:
To my fellow homeowner, as an example how much should I expect to pay these days for example a 4X4 casement thick imported window?

Thanks.