I just diversified my investment with Opay flexifixed investment that gives 1% monthly (12% per annum).

Hope I no go hear stories sha?

Comeandcollect:
Yes half of my monthly income come from forex but if i take such, i expect 100 percent of the repayments to come from Nigeria, with the current exchange rates in Nigeria since the last few days, it may be difficult to source forex to repay monthly, i believe the major thing is to find a business or investment like real estate in Nigeria that can guarantee 10 percent return minimum before signing the agreement, what are your thoughts?


Sure it would've been great those days, I am looking for investment that will generate 10 percent income to take up the offer. This issue of devaluation and unstable exchange rate makes it looks impossible to go for. I will go for field study on this before taking it up.

Why should the repayment come from Nigeria? Unless if you earn forex in Nigeria or the investment will earn forex in Nigeria.

OgogoroFreak:
I just diversified my investment with Opay flexifixed investment that gives 1% monthly (12% per annum).

Hope I no go hear stories sha?

Diversification is very important

Donbrig:
Nigerians are naturally greedy, I keep asking why locally produced goods are more expensive than foreign goods, particularly food stuffs. Every state govt should set up special agency to checkmate the incessant increase of food stuffs, it is getting out of hand.

It is not greed that is making locally produced goods more expensive sir. The cost of production in Nigeria is too high. Manufacturers have to buy generators and diesel, they have to move goods and raw materials in bad roads where these goods are sometimes stolen by highway robbers, trucks break down and have to be fixed all the time, workers are stealing from the company, interest rates are high, raw materials, machinery/plants and spare parts are imported with a devalued Naira, lots of clueless managers running companies because they are related to Oga, etc. Most importantly, economies of scale keeps foreign goods super cheap. Those countries produce so much of these commodities that the costs per unit naturally go down as they are spread over larger quantities. Naija businesses can not compete.

Overcapacity and oversupply in China (and even India) has led to a situation where some commodities can be shipped and dumped in Nigeria and other African countries (at costs that are still lower than Nigeria’s even with inclusion of shipping and duties) just for these Asian companies to break even.

For Naija made goods to compete, costs of production have to go down. Fix the power situation, road networks, crime, fx situation, lower interest rates and employ better staff and managers and the difference will be felt. I doubt that will happen in the next 5 to 10 years.

Tyche:


Some still import though, in the name of raw material for processing. And then package to resell.

Who are the importers?

On point, this is a better version of you, keep it up!

Lazyyouth4u:

It is not greed that is making locally produced goods more expensive sir. The cost of production in Nigeria is too high. Manufacturers have to buy generators and diesel, they have to move goods and raw materials in bad roads where these goods are sometimes stolen by highway robbers, trucks break down and have to be fixed all the time, workers are stealing from the company, interest rates are high, raw materials, machinery/plants and spare parts are imported with a devalued Naira, lots of clueless managers running companies because they are related to Oga, etc. Most importantly, economies of scale keeps foreign goods super cheap. Those countries produce so much of these commodities that the costs per unit naturally go down as they are spread over larger quantities. Naija businesses can not compete.

Overcapacity and oversupply in China (and even India) has led to a situation where some commodities can be shipped and dumped in Nigeria and other African countries (at costs that are still lower than Nigeria’s even with inclusion of shipping and duties) just for these Asian companies to break even.

For Naija made goods to compete, costs of production have to go down. Fix the power situation, road networks, crime, fx situation, lower interest rates and employ better staff and managers and the difference will be felt. I doubt that will happen in the next 5 to 10 years.

emmanuelewumi:



Diversification is very important

Yes.

I don't know why stock market is so difficult for me to grab. I would love to add it to my investment but I no Sabi at all.

Lazyyouth4u:

It is not greed that is making locally produced goods more expensive sir. The cost of production in Nigeria is too high. Manufacturers have to buy generators and diesel, they have to move goods and raw materials in bad roads where these goods are sometimes stolen by highway robbers, trucks break down and have to be fixed all the time, workers are stealing from the company, interest rates are high, raw materials, machinery/plants and spare parts are imported with a devalued Naira, lots of clueless managers running companies because they are related to Oga, etc. Most importantly, economies of scale keeps foreign goods super cheap. Those countries produce so much of these commodities that the costs per unit naturally go down as they are spread over larger quantities. Naija businesses can not compete.

Overcapacity and oversupply in China (and even India) has led to a situation where some commodities can be shipped and dumped in Nigeria and other African countries (at costs that are still lower than Nigeria’s even with inclusion of shipping and duties) just for these Asian companies to break even.

For Naija made goods to compete, costs of production have to go down. Fix the power situation, road networks, crime, fx situation, lower interest rates and employ better staff and managers and the difference will be felt. I doubt that will happen in the next 5 to 10 years.

There's the greed aspect too.

How do we explain Dangote Cement produced here from almost free stones selling for 2800 per bag. They produce it here, transport it further to other west African countries and sell it there for about half the price? how does that make sense?

Check Dangote Cement results. They have close to 50 gross margins from their Nigerian operations, but less than 30% pan African. Why the disparity?

We used to produce about 6m tonnes of rice, and they managed to sell at 13000 per bag before border closure, now we're hearing that with all the intervention, the production is now over 8m tonnes, but price is over 25k, simply because borders are closed, so they see opportunity to exploit, because to them, this is the opportunity to make a killing let them make the most before government changes policy, that's their thinking when it should have been how to improve quality.
Thesame mentality that will make an elected official think about how to amass the most, cos na opportunity. let him amass before time runs out. when he should be thinking on how to best represent those that elected him.

The points you've raised about cost of production, economies of scale and all are very very true. But there's also a funny greedy/exploitative nature some Nigerians exhibit.

Apart from cost of fuel, and transportation, most other input for cement cost little or nothing. it shouldn't cost more than 1500 per bag.

There was a time during GEJ when. the government met with Dangote or maybe all cement manufacturers now, and they crashed the price from around 1800 to 1400.

Lazyyouth4u:

It is not greed that is making locally produced goods more expensive sir. The cost of production in Nigeria is too high. Manufacturers have to buy generators and diesel, they have to move goods and raw materials in bad roads where these goods are sometimes stolen by highway robbers, trucks break down and have to be fixed all the time, workers are stealing from the company, interest rates are high, raw materials, machinery/plants and spare parts are imported with a devalued Naira, lots of clueless managers running companies because they are related to Oga, etc. Most importantly, economies of scale keeps foreign goods super cheap. Those countries produce so much of these commodities that the costs per unit naturally go down as they are spread over larger quantities. Naija businesses can not compete.

Overcapacity and oversupply in China (and even India) has led to a situation where some commodities can be shipped and dumped in Nigeria and other African countries (at costs that are still lower than Nigeria’s even with inclusion of shipping and duties) just for these Asian companies to break even.

For Naija made goods to compete, costs of production have to go down. Fix the power situation, road networks, crime, fx situation, lower interest rates and employ better staff and managers and the difference will be felt. I doubt that will happen in the next 5 to 10 years.

Gbam. You nailed it.

OgogoroFreak:
I just diversified my investment with Opay flexifixed investment that gives 1% monthly (12% per annum).

Hope I no go hear stories sha?

I would like to visit their office on Monday.

Lazyyouth4u:

It is not greed that is making locally produced goods more expensive sir. The cost of production in Nigeria is too high. Manufacturers have to buy generators and diesel, they have to move goods and raw materials in bad roads where these goods are sometimes stolen by highway robbers, trucks break down and have to be fixed all the time, workers are stealing from the company, interest rates are high, raw materials, machinery/plants and spare parts are imported with a devalued Naira, lots of clueless managers running companies because they are related to Oga, etc. Most importantly, economies of scale keeps foreign goods super cheap. Those countries produce so much of these commodities that the costs per unit naturally go down as they are spread over larger quantities. Naija businesses can not compete.

Overcapacity and oversupply in China (and even India) has led to a situation where some commodities can be shipped and dumped in Nigeria and other African countries (at costs that are still lower than Nigeria’s even with inclusion of shipping and duties) just for these Asian companies to break even.

For Naija made goods to compete, costs of production have to go down. Fix the power situation, road networks, crime, fx situation, lower interest rates and employ better staff and managers and the difference will be felt. I doubt that will happen in the next 5 to 10 years.

Incredibly put together.

Love it!

I completely agree with you, but greed has also played a critical role. However, Nigeria is now officially in recession, we all pray this recession won't last, the hunger and poverty in the country is so alarming.

Lazyyouth4u:

It is not greed that is making locally produced goods more expensive sir. The cost of production in Nigeria is too high. Manufacturers have to buy generators and diesel, they have to move goods and raw materials in bad roads where these goods are sometimes stolen by highway robbers, trucks break down and have to be fixed all the time, workers are stealing from the company, interest rates are high, raw materials, machinery/plants and spare parts are imported with a devalued Naira, lots of clueless managers running companies because they are related to Oga, etc. Most importantly, economies of scale keeps foreign goods super cheap. Those countries produce so much of these commodities that the costs per unit naturally go down as they are spread over larger quantities. Naija businesses can not compete.

Overcapacity and oversupply in China (and even India) has led to a situation where some commodities can be shipped and dumped in Nigeria and other African countries (at costs that are still lower than Nigeria’s even with inclusion of shipping and duties) just for these Asian companies to break even.

For Naija made goods to compete, costs of production have to go down. Fix the power situation, road networks, crime, fx situation, lower interest rates and employ better staff and managers and the difference will be felt. I doubt that will happen in the next 5 to 10 years.

Lazyyouth4you is damn impressive, no doubt he has really worked on himself and better his image in this thread. I just wish TransAtlantic could borrow a leaf from him and do likewise.

jajeri3216:


Incredibly put together.

Love it!

ibechris:




I would like to visit their office on Monday.

Why? Are you having issues with them?

OgogoroFreak:
Why? Are you having issues with them?

I need to visit them to ask pertinent questions before I part with my money.

Abeg ask all the petty and pertinent questions, negative rates on t-bills has really exposed our funds to all kinds of ponzi schemes.

ibechris:



I need to visit them to ask pertinent questions before I part with my money.

Donbrig:
Lazyyouth4you is damn impressive, no doubt he has really worked on himself and better his image in this thread. I just wish TransAtlantic could borrow a leaf from him and do likewise.

Why no one should be silenced, you'd be amazed what transatlantic is learning from all the crossfire's

It is official Nigeria is now in a recession. How long shall we be in the current recession?

Considering the huge debt and bogus govt spendings, with hundreds of useless govt parastals everywhere, in collaboration with CBN's unstable policies, this recession might last up to one year or more. Govt spending is just too big and they seem not willing to reduce it anytime soon.

Our Senate president, Ahmed Lawan said Nigerians should not focus on their big salaries but should focus on their hard work to the nation, can you imagine. This recession will definitely last more than expected, because we have so many incompetent Nigerians handling sensitive positions in the country.

emmanuelewumi:
It is official Nigeria is now in a recession. How long shall we be in the current recession?

Donbrig:
Considering the huge debt and bogus govt spendings, with hundreds of useless govt parastals everywhere, in collaboration with CBN's unstable policies, this recession might last up to one year or more. Govt spending is just too big and they seem not willing to reduce it anytime soon.

Our Senate president, Ahmed Lawan said Nigerians should not focus on their big salaries but should focus on their hard work to the nation, can you imagine. This recession will definitely last more than expected, because we have so many incompetent Nigerians handling sensitive positions in the country.

I think it should last 4 quarters or more

ibechris:



I need to visit them to ask pertinent questions before I part with my money.

Okay

ibechris:



I need to visit them to ask pertinent questions before I part with my money.

Are you not making more than that from your money lending business?

Donbrig:
Abeg ask all the petty and pertinent questions, negative rates on t-bills has really exposed our funds to all kinds of ponzi schemes.

I think it is gullible, lazy, greedy and financial illiterate people that fall for Ponzi schemes.


Fortunately we have more than enough products and services packaged by businesspeople, conmen, politicians and some religious leaders for this group of people because the market is so huge.

emmanuelewumi:



Are you not making more than that from your money lending business?

Do u also invest in one source?

ibechris:



Do u also invest in one source?

No.


Money lending should give you more than 12% per annum, although some of the loans might go bad

emmanuelewumi:



No.


Money lending should give you more than 12% per annum, although some of the loans might go bad

I don't have problem with my lending,but I guess u are just being childish and I dont expect that from u.

However, no sensible man or woman would chose to put all his capital in one source,so keep quiet and stop being nosy.

Donbrig:
I completely agree with you, but greed has also played a critical role. However, Nigeria is now officially in recession, we all pray this recession won't last, the hunger and poverty in the country is so alarming.

Even in a recession, some sectors are expected to experience growth. What are the sectors we should be looking at?

Take it easy bro, emmanuelewumi hasn't said anything bad to warrant such harsh words from you. Just let it slide, we know the economy is bad and we are all affected one way or another, that is why we are all here to learn from each other on how best to ameliorate the situation.

ibechris:




I don't have problem with my lending,but I guess u are just being childish and I dont expect that from u.

However, no sensible man or woman would chose to put all his capital in one source,so keep quiet and stop being nosy.

Thats very true sir, but apart from our telecom and financial sector, I cannot really see any other sector that is doing well in Nigeria at the moment. Our producing or manufacturing sector is always a case of two steps forward and five steps backward.

emmanuelewumi:



Even in a recession, some sectors are expected to experience growth. What are the sectors we should be looking at?

Donbrig:
Take it easy bro, emmanuelewumi hasn't said anything bad to warrant such harsh words from you. Just let it slide, we know the economy is bad and we are all affected one way or another, thats is why we are all here to learn from each other on how best to ameliorate the situation.

It is expected. The economy is very bad and there is no solution in sight.


Customers have been owing since February 2020 and have refused to pay or do not have the means of paying back. I am sure a lot of us are having similar problems.

This recession will definitely aggravate mental health problems in the country, people will be unnecessarily aggressive and abusive over nothing.

May God help us and continue to provide for us

emmanuelewumi:



It is expected. The economy is very bad and there is no solution in sight.


Customers have been owing since February 2020 and have refused to pay or do not have the means of paying back. I am sure a lot of us are having similar problems.

This recession will definitely aggravate mental health problems in the country, people will be unnecessarily aggressive and abusive over nothing.

May God help us and continue to provide for us

Sir, does being in a recession affects dividend payouts of banks especially FUGAS. I want to know so as to plan my investment strategies properly. Thanks

emmanuelewumi:



Even in a recession, some sectors are expected to experience growth. What are the sectors we should be looking at?

Apart from the obvious finance and telecom related, pharmaceuticals (people are buying drugs now o), supermarkets (people are stocking up), makers of PPE and face masks (obviously) and online/tv entertainment (ask Big Brother Naija organizers and housemates ). Sellers of real estate are also making money. People want to buy assets with their Tbill money.