I neither hold brief for Apc nor PDP, but the utterances of this man brings the judiciary to disrepute.
Haba!

We African Parents really have to learn to be more patient with our children. We mustn't raise them the way we were raised. Beating and being tough doesn't solve every problem.
I would just die if this happened to my little boy... Na to cut my hand join... Reading this just ruined my evening.

Atlantian:


I am towing my line of argument because I understand that the decision to ban foreign education and medicals from banks is to control the value of the naira. It is the worst approach cos no one who has a dependent in any school in abroad now will withdraw the student, you will do all it takes to buy forex at BDC and the demand will soar. People who have health conditions will die because most hospitals in Nigeria are just not working, so its a matter of life and death to source for fx in BDC. This huge demand will increase the demand for dollars and more naira will be chasing the few dollars. Watch the value of the naira plummet in the next few days. Already the announcement has affected the value of the dollar to 335 within 24hrs.

Shame

On Point...

Ymodulus:

GTBank does not favour businessmen. Diamond and Fidelity does

Very true...

Feeling like investing....

P0rtHarc0urtB0y:


Followed you here boss!


Well 2016, for me, i intend to kick start a 100-hectare cocoa plantation project I've been nurturing since 2013. Estimated period of harvesting is 18months. With 100 hectares hybrid cocoa plantation, we would churn out an average of 250 metric tons of dried cocoa beans per annum (exportable quantity) @ current rate of $3,325/ton. The demand for chocolate is ever increasing and with the diminishing number of coca farmers we do not anticipate the price reducing unlike that of crude oil. The plantation will be the single largest cocoa farm in Nigeria. It will also ramp up Nigeria output marginally in the global market, create over 100 job opportunities and increase our FX earnings.

I was raised by a cocoa farmer in Ondo State. So nothing is new. We have approached the state government and processes are underway for land allocation. Our feasibility study is being studied by Bank of Agriculture for financial assistance as we project a capital outlay of N100m. We are also discussing with Cocoa Research Institute of Nigeria (CRIN) for free seedlings and fertilizers. We are equally discussing with Nestle and a merchant (buyer) in Switzerland.

I'm please you did your background work on this, Agriculture is definitely looking good now that oil has tanked. Some things came to mind that may be worth your consideration:
- as an incentive to your prospective Swiss buyer, research NEXIM bank's export promotion incentives.
- when dealing with State govt, wash your eyes with hypo .
- try to engage and key into the federal govt's program. You can achieve this by also looking for ways to support existing cocoa famers. Hence you transcend to processing cocoa from not just your plantation but also buy product from other farmers (thus encouraging them). This will really attract support to you because the multiplier effect of your business is felt through direct and numerous indirect jobs.

P0rtHarc0urtB0y:
Wow! Wow!! Wow!!!

Standing ovation for YoungExec. God bless you and yours. Blessings come in different dimensions. For me, your write up is a blessing and an excellent way to start the year.

Having read your write-up, i've classified my entire fund into WIRES (opened two additional bank accounts yesterday and moved the funds respectively). However, I've been at cross road and i need your candid opinion......To lay a solid foundation for our children and also considering other benefits attached to being a US citizen, my wife and I have decided to birth our 2nd child in the US as we did the 1st child a couple of years ago. To be sincere, this really put my working capital under intense pressure then. I, infact , went borrowing to remain in business. I was able to stabilize my finances late 2014. I'd have been far ahead of my present status if I'd found this hidden treasure (W.I.R.E.S) few years back.

Now my question are;
1. Which part of WIRES do I categorise the funding/cost of birthing my child in the US this time around? Investment - right?

2. Ok if investment and you are to choose between spending about N3.5m - N4m on birthing your child in the US and using the same amount to complete a 4 blocks of 2-bedroom flats in a capital city, I pray, which would you go for?

Thanks and God Bless you too.

1. Definitely an Investment
That blue passport will open doors for your child while not losing anything at home. Last I checked, Dual Citizenship is permitted in Nigeria and some state governors are even dual citizens.
In the long run, when you are sending your child off to college, you will likely pay far less than foreign applicants since your kid is a citizen. So in the long run, it's an investment that yields economic benefits.

2. Prioritize the birth of the child over the building
- Investing in your children is ultimately the most important priority. The world is so competitive these days that you need to do your best to arm your children as best you can to enable them have competitive advantage over others. Years from now your kids will be forever grateful for the foundation you laid for them.
- Ask yourself, do I currently have a roof over my head? If my wife gives birth outside the U.S., is there another way I can secure dual citizenship for my child? The answers to these questions clearly show that while you can always build at a later date, your child can only be born once. Hence if you miss the chance to do this, you've missed it.
- Other than being born in the U.S., the only other path to citizenship is through legal immigration (marriage, work, asylum), the issue is that your child will have to denounce his/her Nigerian citizenship to get that (if they qualify). Whereas, being born could have conferred dual citizenship (the best of both worlds)
- the U.S. Elections are around the corner and one of the issues that is being hotly contended is the birth right citizenship, I know for sure that Republican candidates Ted Cruz and Donald Trump want to end it. in the event that a Republican wins the White Hiouse, that window may close. So you don't have all the time in the world.
- securing the land is advisable, factor that into your plans. Now that the Nigerian Economy is in dire straits, a lot of people are selling their Real Estate to shore up their liquidity. For instance, I just secure a property late last year at half the value because the seller was in a fix. Hence, it will be great if you secure the land and then plan on building at a later date.

In conclusion,
Make sure in pursuing this, you don't liquidate yourself entirely. Make sure your Savings (S) cushions the effect of the cost of the trip until you balance your finances again.

Goodluck!!

menix:
I just transferred 5 naira in a bid to check the name nd it went through, pls will EFCC arrest me

Nwanne I ve entered uwa Mmebi kasala..

You don enter one chance.

Brethren (All Self Employed / C-Level Exectives)
It's January 14th and I am not motivated at all! The Nigerian economic outlook plus CBN one-day-one-policy is creating too much uncertainty. I know January is usually a slow month but this one is something else!

Everyday all you hear is how sleazy people who don't even know how to begin running a company get hundreds of millions of naira simply because they are in politics while honest hardworking businesses in Nigeria can't even access loans. Those that do, have to provide an arm and a leg as collateral.

All around workers are afraid of layoff. I've been to my office just twice this month and on each occasion, you see how uneasy workers are over fears of losing their jobs. As much as I don't want to, it's inevitable that we'll have to let some people go.

Fellow employers, how motivated are you this January?

Nigeria: Discos Declare Force Majeure On Electricity

New owners of distribution companies (DISCOs) in Nigeria have declared force majeure on electricity supply across the country. The investors, who took over power distribution assets from the Federal Government on Friday, November 1, 2013, also demanded a refund of their investments if nothing is done to address what they called "the havoc, which the non-cost-reflective tariff has wrecked on their businesses."

Force majeure is a contractual and legal announcement, which is used to declare the inabil-ity of a party to meet up with a contractual obligation with another party in business. This force majeure, New Telegraph gathered, was contained in a letter sent to the minister in charge of power, Mr. Babatunde Fashola, who has summoned a meeting with the chief executives of the DISCOs in Abuja today. Although the Nigerian Electricity Regulating Agency (NERC) has slated February 1 for the implementation of a tariff hike, the DISCOs prayed government to adhere strictly to the pact it signed with them before the takeover.

"They want the Federal Government to refund their money for the licenses, which they plan to return if nothing is done to address the problems which government's inability to meet up its part of the contract has caused. "One of these is the backlog of debts of about N45 billion, which the police and military formations, ministries, departments and agencies (MDAs) of government owe them. The tariff, which is not cost-reflective, the hold back of N216 billion intervention funds from the Central Bank of Nigeria (CBN), among others, are some of the issues the DISCOs want addressed.

"As we speak, a letter has been sent to government in which the DISCOs declared that henceforth, they may not be able to meet their contractual agreement with government on power distribution," the source said. It was, however, not clear if today's meeting with Fashola, the first of its kind since he became minister, is to iron out all these gray areas. One of the issues, which the DISCOs want the minister to address, is the embargo, which government allegedly placed on distribution companies in Nigeria from investing more than N50 billion on capital expenditures (capex) per year.

The investors in the 11 distribution companies have persistently stated that the capex benchmark was an impediment to growth of the power sector. Rising under the auspices of the Association of Nigeria Electricity Distributors (ANED), the investors said that for a country like Nigeria, which is still battling with dearth of infrastructure in its power sector, the capital expenditure approved for them was "grossly inadequate."

The Chief Executive Officer of ANED, Mr. Azu Obiaya and the Executive Director of the group, Otunba Sunday Oduntan, recently told newsmen in Lagos that the DISCOs, which have invested over N26 billion in the assets and improvements of power since takeover, could have invested more.

Obiaya had said that the approved capex is grossly inadequate to meet expected improvements in the sector. "In other words, what we are allowed to invest is grossly inadequate for the improvements we need," he had stressed. His view was corroborated by Oduntan, who stated that despite the benchmark, the debt owed the 11 power distribution companies by the three tiers of government has risen to N45 billion. The debt, which he said, rose from N32 billion some months ago to the present N45 billion, was accumulated by the MDAs of state and central governments since November 1, 2013 when the power firms were officially handed over to private investors. The development had hampered developments in the power sector, he said.

Nigeria, according to Oduntan, would find it difficult to record significant improvement in power supply if the agencies of government failed to pay their bills. He said: "I went public months ago to state that the MDAs and governments' debt to the DISCOs was N32 billion, but right now, as we speak, it has increased to N45 billion. It may interest you to know that before the coming of the present administration, the military used to beat up our workers whenever they attempted to collect electricity bills. "But we are in talks with the new Minister of Power, Works and Housing, the Ministry of Defence and other key ministries, to iron out these issues.

All arms of government, federal, state and local councils, as well as MDAs, owe us, including the National Assembly. "We kept compiling the figures and these are debts owed since November 1, 2013." Oduntan urged government to intervene in the matter, stressing that it would not speak well of the country if the DISCOs should embark on a massive disconnection of federal and state MDAs from the power grid. Meanwhile, the new tariffs, payable by electricity consumers indicate increases in charges for different categories of consumers across the country.

Consumers under the Abuja Electricity Distribution Company, who are paying N19.96 as energy charge currently, will now pay N29.56, representing an increase of 48.1 per cent. Those under the Eko DISCO will now pay N28.75 instead of N18.75, representing 53.3 per cent increase.

Those under Ikeja, Kaduna and Benin DISCOs, who used to pay N14.96, N20.66 and N18.46 for a unit of electricity, will now pay N22.96, N31.71 and N27.72, respectively. These represent 53.5 per cent, 53.5 per cent and 49.62 per cent rise for the three DISCOs respectively.

According to the document released by NERC, commercial consumers (C2) under the Ibadan and Enugu DISCOs, who used to pay N26.79 and N29.05 for a unit of energy, will now pay N38.87 and N42.4. This represents a 45.1 per cent and 45.9 per cent increase in the respective rates.

http://allafrica.com/stories/201601111195.html

I think the thread has developed nicely. What matters most is implementation. Remember 'No Pain, No Gain'.
This takes a lot of discipline, hurts like hell at the start but pays of over time.
I'll also advise people who are starting to not be so literal with the points, try to adapt the WIRES to your own unique circumstances.if you need to adjust certain aspects of it please do so.

I feel your pain.
It got so bad, I had to get dual view decoder so that I can have peace in my house... It was a fight I knew I just couldn't win.

Truly, who is marginalising South-East?
BY DURO ONABULE ON JANUARY 8, 2016 COLUMNS,

By the time he had his maiden media interview, even President Muhammadu Buhari knew that he had many contentious issues to tackle. Hence, he appeared very relaxed at the early stages but obviously lost his cool when he was taken up on the allegation of marginalisation of South- East. It was a multi-loaded poser. South-East is marginalised. By whom and how? What part of the marginalisation is self-inflicted?
On this very sensitive issue, the questioner must have played into Buhari’s hands, as he (Buhari) asked somewhat justifiably, “who is marginalising South-Eat?” an instant dismissal of the insinuation that he was personally responsible for the real or imagined short-changing of South-East zone. The questioner must have believed in the allegation of marginalisation, in which case, the facts must be on his fingertips. But by the time Buhari fought back, the questioner was left stranded despite the remarkable and indeed unprecedented guts at follow-up questions, which featured the television duel.
There are, however, two indisputable facts. First, marginalisation of South-East exists but second, Buhari or this particular administration cannot be held, especially solely responsible. Another way to put it is that for a zone, which completely opposed Buhari’s aspiration to the presidency, it is part of the consequences of that undisguised choice not to expect much more than its current lot, especially so early in the days of Buhari’s administration. Anywhere in the world, electoral choices have consequences.
Even then, listen to Muhammadu Buhari. Who is the governor of Central Bank? Who is the Minister of Labour? Who is the Minister of Foreign Affairs? Who is the Minister of Science and Technology? Who is the Petroleum Minister of State/Managing Director of NNPC? Who is the Education Minister of State? These are no favours from President Buhari but the statutory entitlements of South-East under the constitution, not denied that zone, despite the pattern of the results of last year’s presidential elections.
This, however, does not mean South-East zone has not been marginalised over the years, for various reasons. More disturbing is the fact that for such marginalisation by the federal authorities, South-Easterners, mainly state governors, federal ministers and National Assembly members are unconscious accessories to that fact of marginalisation. For example, for some unknown reasons, moreso in a democracy, state governors are so scared of federal authorities, such that in any face to face gathering, all 36 state governors fidget before the President of the Republic. So far, there have been only two exceptions, more of enfant terrible – Orji Uzor Kalu under Obasanjo and Fayose under Muhammadu Buhari.
That was why, in particular, Obasanjo and Jonathan considered it confrontational for any state governor even to argue his (state governor’s) cause for federal attention. Are state governors from South-East not members of National Council of States? How many of them (from South-East ever drew attention of the council of states to the terrible state of marginalisation – poor infrastructure, mainly federal roads – in South-East? Which single federal road in South-East is motorable for fifty kilometres or even less?
Again, should President Buhari decide for state visit to contiguous like Imo/Aba or Enugu/Ebonyi or Enugu/Anambra, all-out efforts in such two states, at least, a fortnight before such visit, will be geared towards cleaning the streets, patching up especially the very same poor federal roads to pretend everything is fine and comfortable for the August visitor. For such visit, in Imo State, for example, the unofficial waste dump site at Douglas Road would be cleared so as not to in curt the wrath of the President. If the visiting President drives through entirely make believe smooth federal roads, how would he ever appreciate the cries of marginalisation of South-East in terms of infrastructure? Even if such demands are ever made, the President’s only memory from his visit will be that of good federal roads in South-East.
Instead host South-East state governors must make the President drive through federal roads in that zone as they actually are, unmotorable, pot-holed, completely broken down as Enugu-Anambra (Onitsha) purported expressway. Why not get federal authorities to simultaneously reconstruct Enugu-Onitsha and Lagos-Ibadan expressways. Where were South-Easterners when critics of the poor state of Lagos-Ibadan expressway refused to give up until second-term seeking President Jonathan awarded the contract for that road, which currently has gone beyond quarter of completion? That contract had to be hurriedly awarded in time before the 2015 presidential elections.
On the other hand, federal bridges spring up all over Nigeria over rivers, waterways and heavy traffic junctions. A fresh mandate-seeking President Jonathan, in 2011, pledged a new Asaba-Onitsha bridge to be completed within his first term in office. He failed to deliver. Yet four years later, South-Easterners with over ninety per cent votes (figures announced) again preferred the same Jonathan. The message sent by South-Easterners is that there is no consequence for failed election promises. What stops another electioneering President from taking South-Easterners for a ride with a similar campaign promise to be broken?
[/b]Like other parts of the country, South-East zone has minister and their advisers in the Federal Cabinet. Are they benchwarmers too afraid to speak up at budget sessions? What are their contributions in favour of South-East? Annually at National Assembly and cabinet meetings, estimates are passed without the insistence of South-East representatives on the very poor roads in this zone.[b] That is why without any prejudice to her recently annulled senatorial election, Uche Ekwunife from Anambra central, must be appreciated for her distinction.
So soon after taking her seat, Uche Ekwunife succeeded in dragging Senate Ad-hoc Committee on works led by Bernabas Gamade on inspection of poor roads) in Anambra. What were the efforts of the remaining fourteen senators from South-East?
Another budget has just been passed by the National Assembly. What was the performance of South-East members in focusing on poor infrastructure in that zone, the main thrust of alleged marginalisation? How many of them spoke for redressing the poor situation in South-East? Such dereliction of duty is not new. I saw it at first hand as Chief Press Secretary to former President Ibrahim Babangida. I had to argue, during staff meetings for the federal government take-over of Owerri airport.
The case, as I argued, was straightforward. All airports in Nigeria are Federal-Government owned. Why, therefore, must South-East be the only one constructing an airport through community efforts?
Others would not agree with me on the ground that an Owerri airport would “kill” nearby Port-Harcourt airport. But I maintained my stand that instead, Owerri airport would only complement the Port-Harcourt airport either in an emergency or in coping with heavy air traffic during Christmas and New Year festivals.
President Babangida, swayed by any arguments, agreed with me and overruled the others. That was how federal government took over the construction of Owerri airport. Somehow, the story got to General Ike Nwachukwu, who on a visit to Dodan Barracks, expressed thanks because, as he put it, he was told that very often, I spoke for South-East cause.
I am not from South-East and if I could speak for that zone, why can’t South-Easterners in strategic positions – federal cabinet or National Assembly – speak for themselves as much as they speak for other parts of the country? They should be bold and free to perform in such situations. The lot of South-Easterners in those positions is to champion Nigeria’s overall development without fear or favour but initially or eventually for the development of their area. That is the basis of political representation.
There is also this mentality in South-East zone, of one man sabotaging group effort. Despite the current justified agitation against marginalization at least in terms of poor roads, all it takes is for the federal authorities to extend some largesse to a key figure, and he will opt out of the agitation. It was of course, even worse during the civil war. While Biafrans were attracting sympathy from the outside world and even from public-spirited figures like Tai Solarin and Wole Soyinka who, for their courage, were clamped into detention on the federal side, a South-Easterner was supplying arms on commercial basis to the federal authorities. At the end of hostilities, this same man emerged one of the leading politicians in South-East. Such would not happen in South-West, where, for life, that man and his family would be ostracised for life in all ramifications.
By the way, for all the controversy, which marked her tenure, ex-Aviation Minister Stella Oduah, now a Senator, elevated Enugu airport to international status, strictly on merit, along with others. She too must be appreciated for her distinction. That is how not to self-marginalise South-East. Enugu airport is one of the oldest, in Nigeria. Still on the television interview, President Buhari strayed into some controversies.
Obviously indignant at the sordid disclosures of misappropriation of public funds, Buhari could not have thereby directed that the bail granted by courts to the suspects be disobeyed. But there is no doubt from his utterances and body language that he agreed with continued detention of the suspects. In the process, he incurred avoidable public criticisms. There was a better explanation by the law enforcement agencies that Sambo Dasuki was re-arrested to arraign him for fresh charges. That is tenable even in a court of law. Without such a compelling reason, there could not be any justification for not obeying court order.
Meanwhile, Buhari’s angry response drowned the fact that other accused persons – former Sokoto State governor, Attahiru Bafarawa, electronic media mogul, Dokpesi, and ex-Minister Ambassador Yuguda – had all been released on bail, as directed by law courts. Who are the others granted bail and are still being detained?
There is this other aspect. Even if Sambo Dasuki is still being detained on Buhari’s order and in defiance of bail granted by the court, it is a clear case of interference with judicial process. Who is responsible for that? Definitely not Buhari.
Instead, those to be blamed are National Assembly members, and by extension, politicians. They cannot have the better of two worlds. Over two months ago, when it seemed apparent that Senate President Bukola Saraki would be tried by Code of Conduct Tribunal for alleged false declaration of assets, House of Representatives speaker Yakubu Dogara, publicly called on President Buhari to intervene and stop the trial. Dogara was taken up in this column on the danger of his desperate call on the executive (Buhari) to interfere in an ongoing judicial process.
If that was so, how could the same politicians turn round today to accuse Buhari of disrupting judicial process in the matter of bail granted to an accused standing trial? For Buhari, to have yielded to Speaker Yakubu Dogara by halting an ongoing judicial process is no better disobedience of court’s power to conduct its statutory duties than not releasing an accused granted bail.
By the way, one other accused purportedly not released after bail granted by the court is the Biafran agitator, Nnamdi Kanu. He is even luckier than Sambo Dasuki. On being arrested on the precinct of the court after he was granted bail, law enforcement agencies indicated that the man was to face fresh charges. And truly, he was re-arraigned within a short time. But he declined both to enter his plea and being tried by the Judge, who instantly returned the charge file to the Chief Judge to re-assign the case to another Judge. Buhari can’t be blamed for that or be accused of disobeying court order. It is up to Kanu to face his trial so that he can be considered for bail.
That was the explanation Buhari should have given instead of his macho posture that Kanu did not merit a bail that was NEVER.
Meanwhile, the EFCC or whichever law enforcement agency responsible, must justify its re-arrest of Sambo Dasuki by arraigning him for whatever fresh charges at the earliest possible time, so that he can be considered for another bail.

http://sunnewsonline.com/new/truly-who-is-marginalising-south-east/

The President has a Chief of Staff and also has a Special Adviser. The Special Adviser then also has a Chief of Staff. The Special Adviser's Chief of Staff probably also has a Chief of Staff. Hence the multiplication continues.
This is why Private sector thinking is really needed to turn things around. LOL.

@op
Great piece.
With respect to the paragraph where you related procrastination to business, I think the reverse is also the case, a lot of people I've come across invest disproportionately more in their business than on personal needs. It brings to mind, the analogy of the meat seller who sells all the good parts to his customers and brings the bones and leftovers back for his family.
I believe the key is striking a balance, there must be a balance between your investing in your source of income (business, job etc) and your self (personal needs). Both extremes are equally bad.

Thanks for your illuminating piece.

Cmeo:


Boss,
Compliment of the season. I am happy to see you back here. I sent you PMs but there was no response.

I am yet to know the definite direction of business in this new year but I believe production of education materials will still move in the market. I have an idea of an education material which I would like to go into its production but the idea is open for other interested investor.

If you would like to know more about the business idea, let me know so that I can share it with u and we could partner together because I can't finance it all alone. I am sure it is an idea that will bring profit.

Once again, I thank you for support you gave me last year, if not for your timely advises, I can't imagine what could happen to me in the business world. Please I will need u to be there for me again this year.

Regards,
John

Brother!
Happy New Year. Great to hear from you! Sorry I have issues with my mail. How did it go, I hope everything went well and you finally got paid. My brother, I am still monitoring Nigeria's economic outlook from afar. The uncertainty is not good for business as you can see from my initial post.

People I've talked to are either pulling out or threading with caution.

Trapnews:


Try get small sense na! your employee does not represent the millions of hardworking Nigerians. You seem to lack the capacity to manage your staff. You run enter Ghana to replace Nigerians and still get liver enter Nigerian forum to brag!! Where is the patriotism? I hope your goods are meant for Ghanaians too if not.... posterity go judge you. Another bad Nigerian!

engaging you is not even worth it.

witorwitoutyou:

Oga aw much are u payin ur workers,some employers go dey pay peanut,go dey expect d output of a donkey's effort.Iro
E wa pa wa

The problem is a lot of Nigerian youths idolize the Oil company job. Hence they become 'transit' staff. It doesn't matter how much you pay them, how much you invest in their training both locally and abroad, they lust for those jobs because they think it's all about relaxing and earning millions.
You pay someone 220k net salary yet the cheapskate won't use their money to run small company expenses while out on the field. They rather call the office to stupidly say 'I ran out of airtime so I couldn't call the client to follow up'. Even though they know they can write and get reimbursed.
You then send them on business trips on the company tab and the bills they rack up leave you dazed.
I sent a staff to a conference in Abuja, the fool racked up a bill of 720k over 3 days! He wanted to enjoy all the 'services' the hotel had to offer.

Right now, It's sad but I have more African expats working for me than Nigerian. Believe me, when you meet a Ghanaian immigrant with a University degree, they are so damned committed to their jobs! At least, they are humble and willing to put in the hard work.

Sorry I am venting but this gets me so angry! Nobody wants to start at entry level, work hard and get up the ladder anymore. They all just want it the easy way.

Wealthyone:
To whom much is given, much is expected. most youth / graduates nowadays wishes to do nothing or little and get a fat paycheque at the end of the month. Why would an employer pay u over 200k and u can't justified what u are being paid?

Excellent! Believe me, I have come across a lot of lazy lazy workers. I have consistently shown them the door.
If I were lazy, there wouldn't even be a company! Suckers want to come along, get hired and sink your dreams.

Media Trials. Let there be arrests and let people be taken to court. I'm tired of all this media talk. Time for action.

solid3:


Which alternative did u get at the end of the day?

So far, I've queued up behind a manufacturer. We now have a symbiotic relationship. My company has pegged the cost our our services to him while he adds our Forex needs to his official forex requirement. Which is funded by CBN.
It's not the best though, as we are loosing money from him as a client but at least it keeps us in business for our other clients.

At least, Nigeria cannot afford for his company to fail. He is a local manufacturer employing thousands so he gets priority for his forex needs.

They share this while Dasuki shared the money....

Happy New Year! I only hope all the scammers on this platform have decided to be useful to themselves this year.

1. Family First! Time to stop all those thinking I am their ATM. I am getting a new sim just for family members and true loved ones to reach me on and I will forbid them from giving out the number even at gunpoint .
2. Liquidity: in 2015, I underestimated the power of raw cash and missed out on sudden great deals in real estate. All my funds where tied up in investments and I had little available for sudden deals.
3. Keep Quiet: most times, I tend to get too involved in other people's affairs, always trying to solve every problem. No more

Happy 2016.

DonX001:


Wow...This your analysis na wa o....but true.
Looks like it's basically between real estate and agricultural processing like you say.
I would rather place my bet with agricultural processing.
It's capital intensive but I think the scale of operations
can be planned to fit available resources. One can start on a small scale and expand later.
I've decided to look deeper into it in this coming 2016.

It's not so capital intensive depending on which area of processing you go into. For example we all know the rice value chain and how capital intensive it is to process paddy to polished rice.
I'm looking more into 'packaging' not 'processing'.

local farmers have no clue about the laid down pre-shipment standards of foreign countries with regard to African Argo export. Recently I read that Europe banned Nigerian beans due to high chemical residue content of the beans due to the kind of pesticides used in the beans production in Nigeria.

Using another analogy, for instance, in Abu Dhabi, passengers flying to the U.S. go through US immigration right there in Abu Dhabi so when they arrive US, they do so as domestic travelers i.e without further checks.

Hence I am looking at pre-shipment packaging and standardization of Argo produce. Unlike processing activities which rightly may be capital intensive, packaging costs far less as you are working more or less with the raw produce.

Strahovski:


How do I fund?

Do tell. Please. Last time I funded mine, I had to open Gt Dorm because my Forex source wanted to do GT to GT transfer. But the rate ain't no where near CBN 199. Very very far from it.

The rate was so high I had to start seeking alternatives.

Forcing the population to patronize made in Nigeria products is not something that can be enforced overnight. the economy must have enabling room for manufacturing / production. Issues that raise the cost of production such as Power, Credit etc have to be worked on. I know a factory currently paying a Disco 1.7M per month as Power bill. Yet they still spend an average of 750k on their generators per month for backup power when the Grid power fails.

Strahovski:
Not all banks are restricting cards..

Gtbank
UBA
Fidelity
Access

These 4 banks are going to work perfectly in 2016

GT is already putting me through $1000 per month on their Naira MasterCard. Though my Dorm card is limitless, the funding part is the wahala. Very soon my business will start trade by batter or 'goods swap' with my foreign partners

I just got a mail from UBA

http://campaign.r20.constantcontact.com/render?ca=c8a31770-88e2-4fd2-9e6a-c21c018a2716&c=fced5270-e32a-11e3-aff2-d4ae5292b9a6&ch=fdfec270-e32a-11e3-b06f-d4ae5292b9a6

While other banks are restricting or outrightly blocking their Naira Cards from working abroad, UBA seems to be telling me to increase my business with them.
I've already decided on my 2016 Forex plans via my offshore account since CBN wants to kill our businesses.

Now UBA is sending me this. Abeg o... My better informed bosses, please share your wisdom, it seems UBA is a super bank?

Addendum...
Zenith had sent me this earlier today:

http://www.zenithbank.com/images/REDUCTIONDD.jpg

coolio2014:
Very good ideas on here! Real Estate business is also quite good though albeit the time to break even...

Exactly. For me, Real Estate is a passive income source. If it's your primary income source, you can't handle the wait and will always sell @ subprime due to impatience. So far, I do empty plots. Over time I've found that undeveloped plots are much more valuable than building for commercial or residential. I detest residential real estate investment. Such a fund sink.

Now that the economic outlook is bleak, you would be surprised that real estate prices are still holding steady. I know someone that just sold his undeveloped plot at Miriam babangida way in asaba for 110 million. Land he bought for 9 million years ago. Empty undeveloped has a lot of appeal.

Average real estate gestation period is nearly 2 years (if you want to get good profit). And that is in the event that you did not fall victim to fraudsters.

databoy247:
What's up with Oil companies? It seems getting jobs from them now is like dating Nigerian girls (soooo difficult ). Anyone with information on NNDC current structure and if their buhari-led troubled waters have finally settled?

My brother. NDDC
I was supposed to get mobilization on Wednesday but buhari sacked MD + ED Finance + ED Projects on Monday. The thing strong o. Now I don't even know the status of the work. I just vex travel out.
Anyway, I found a way to cut my loses, since buhari came, I started avoiding direct bids, rather I only accept subcontracted jobs, that way, the main contractor handles the financing and I provide core technical support at full pay. I hedged against risk.

In this case, NDDC awarded a huge Solar street lighting contract to the main contractor. Because of Body Language, he really wants the stuff to work so he came to subcontract to us.

Main contractor raised financing but instead of commencing, he was busy looking to squeeze out as much 'cut' from every corner. Now see, MD is out and APC is fully in.

OzReal:
@ YoungExec. Thanks; your efforts and opinions are highly appreciated. Hope you keep contributing as I hope to learn more.

Thanks, sorry I stopped posting, went on an extended hiatus.