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I am Planning On Coming Back To Naija, What Biz Can I Invest 10,000 Pounds On?

What's up people ?

I just graduated Uni in the UK ,I originally intended to come back home in a couple years but at 23, my parents are pushing for me to come and do NYSC.

I have been pretty independent for the last six years and I am loathe to come back home and go back to asking my parents for money as I know that I would not get a job immediately because

a) I have to do NYSC for one year

b) I would have to go to Law school after NYSC for two years ( I am a law grad)

I presently work in an insurance company and I have savings that are just short of 3,000 pounds. I am certain that I could increase that to 10,000 pounds when I am ready to come back, but my question is, what do I do with the money ?

For the last 6 years, I have always been in employment and I have been used to a steady income, I don't want to sve all this money just to spend it back home.

Does anyone know of any viable business opportunity or investment that I could put that money into.

And I no be maga, 419ers don't bother replying. My eyes shine well well.

I just need to know exactly what I would be doing and if Nigeria is actually a place I can invest my funds.

Peace

Michael

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26 answers

HI MICH,

CONGRATS 4 UR WONDERFUL ACHIEVEMENTS SO FAR IN UK.

WELL IN TERMS OF INVESTING IN NIGERIA IS A BIG BALL GAME.NO CONSTANT POWER SUPPLY,SECURITY IS NOT WELL ASSURED.WELL I MAKE SUGGESTION, U CAN START INVEST ON LANDS THAT IS BUYING AND SELLING OF LANDS.THAT IS A LUCRATIVE SECRET BUSINESS IN NIGERIA FOR NOW,WHY? BECAUSE I AM INTO IT.

I RESIDE IN AWKA, ANAMBRA STATE.

MY CONTACT LINE IS, 08067837873.

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@poster.

Dont let some cheap amateurs mislead u oo,

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Mikeydre,

l suggest you invest in real estate in Abuja or Lagos and since you are a lawyer open a fashion shop to sell men and women suit for your daily income.

lf you are intrested contact me. visionsen@gmail.com

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well you can invest im me for more details mail me at bukola4u2see@yahoo.co.uk

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Mike

What I'll have to say as a business owner who also graduated from a UK school to set up shop in Nigeria afterwards is to listen to the post of Lawyer - avoid mixing Law school and business. Law school is as rigorous as schooling in UK. If it were normal undergrad schooling in Nigeria, you might manage to pull of a thing or two, but as for Law School and all I've heard about it - you will not have the required time to concentrate on your studies as well as make a good profit from your business.

Best bet - invest your funds in a good bank - GTB is one very good one, as a fixed deposit with a rate of about 12% p.a. and I'm sure you'll be better off than where you started from when you invested the funds (just always make sure you always keep in touch with your account office and ask them for higher rates when rolling over, else move your funds to where you can get higher rates!)

A word is enough for the wise (well, as many words)

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Hi There

  I think its nice what you are trying to do,we all dont have to wait for the oil firms to employ us.We can go about doing little for ourselves.

  As you know economical situtation of Nigeria is pretty tight as ever and every one wants to drive a big car,live in a nice house without working too much.

  One idea for such people and I think would interest you pretty well is investing in the FOREX trade.I know what you are saying its kind of like a gamble but thats if you are not invested with the right people and have proper documentation.

  Being that you have been out of the country for a while you will find lots of factors which would be quite frustrating.All you need do is ask a family member to look into it for you say a brother or sister.Its quite common these days.Ask them to look for a reliable investor you can invest with and make sure they are not cooks,you know YAHOO YAHOO boys.Go on ahead by preparing a well detailed agreement with your investor and you are set.You can also go as far as going to the police station to sign papers saying that you both are into a financial understanding and also providing them with personal datas of himself.so incase he is a fraudlent person he would think twice before making any wrong moves.

  Good Traders offer their investors a minimum of say 30% return of their capital every month and 100% return after 3 months.So do the math 30% for one month for 10000 pounds thats 3000 pounds.Isnt that easy or what and for 3 months you get 10000 pounds.Sounds too good to be true but it is TRUE.

   This is one business you can successfully enjoy without breaking a sweat as long as you trader meets his payments.But like I said with all business come risks the only risk here which you can avoid is meeting a reliable and honest trader.And before I forget you can collect your investment capital anytime you desire which means after your service you still have your 10000 pounds + interest and can fly back to the UK.One part about forex that is also nice is that if your trader makes or does not make any profit(bad trade) that month its non of your business you still get paid your interest.

  You will probably be asking your self am I myself into this,well the answer to that is Yes I am but as an Investor and its pay divends.

  Just think about it.

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Mike its brian,i just sent you some more ideas you can look into,but left to me,the post that guy gave you for investing the money in a bank and going off to do your youth service and law school,seem's like a viable one.

Not only will you be doing something but it will give you time to research the business terrain in nigeria and make up you mind which area to dabble into.

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I didnt receive your message; can you please resend. the email address= smoves79 @gmail.com

No spaces, Thanks

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Luca, can we talk, hit me up on my email smoves79 @ gmail.com , need to glean some biz info off you, thanks man

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to the tent business idea that you r addressing with derision and scorn,these tents get rented out for an average of 150,000 to 250 thousand naira each day,and in lagos you are bound to get at least one party wedding,funeral e.t.c every single weekend not counting luncheons and functions during the week,the only people that will get paid out of that are the boys setting it up and the driver with less than 50,000 out of the total payment leaving well over 100,000 naira every week that is an income of almost half a million monthly with minimal overheads for an investment of 6000pounds(around 1.4 million naira)

now if you can work that round your head,tell me who is ignorant between both of us!!

as for what you are calling dirty business,its a business where you make a 100% profit,and after building up a relationship with the spare parts dealers in nigeria,they are known to finance these trips with their own money.

like i asked you in my previous comment,why dont you show us the evidence that you are richer than everybody here,seeing as you think 10,000 pounds is chicken feed,you r spewing out more dirty rubbish than a rodeo ground and i suggest you read and learn more rather than making ignorant comments,go on google and find out how the biggest business people in the world started

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@poster

You can start a fish farming business with that amount you will have

a standard fish farm,

this are the list of basic thing you will need to have on ground.

land,

borehole

and concrate tank(ponds)

for more info and a biz plan

cantact me on: kfad0509@hotmail.com

cheers

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First I commend you for seeking people's advice.You see, One of the things I believe about investment is that you must not put all your eggs in one basket rather, put your eggs in many basket this will maximize your income and reduce your losses.

You can as well stay in London where you are and go on with this buz that i want to introduce to you. It is global stock trading it is different from investing in stock for investment is for a long time while trading is for a short time.to knoiw more visit this my site

All the info there are straight forward and free of charge.

You can write me through my web if you have any qustion to ask.

www.tradeglobalstocks

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The money you have is very small to completely set up shop in Nigeria.

It is better for you to use your foreign knowledge and general understanding of how a good economy works to set something here. What I mean is, start something new and innovative, and not necessarily another second hand car dealer or internet cafe.

Develop your skills before comming. There is a company in VI giving away FREE business tool kits. There is an article about them here

http://www.mynaijanews.com/content/view/2884/144/

Anyway. I hope you find what you are looking for. I know that £3,000 may not help you find it.

Very good luck

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i just sent you a mail

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Go to Law school first. Save your money and after NYSC, You will be well schooled about the Naija Environment.

As a foreign law grad, you will be required to spend approximatly 18 months in law school before you graduate and the new rule i think is that you can only be admitted to do your NYSC in naija as a law graduate through the permission of the law school (Maybe it has changed)

So face your law ambitions and save your money and by the time your done, your £10,000 ought to have increased to an extent and you will know what you intend to invest in.

Dont be in a rush! Law School and Business are a very very bad mix!

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@ brianromel: Now you're talking!

It's not about the re-payment being interest-free for a certain period. If the selling price is less than the cost price no matter how long your awoof period is, you would still be operating at a loss.

What I advice you start is a service-oriented business. You don't necessarily have to have an office/car/house etc to start something. Where do your interests lie? Do you have any skills/anything you enjoy doing which people might possibly be willing to pay for?

Personally my suggestion is that you start a service which people need. There are so many things out there which you could do, depending on what you're interested in.

- Properties : You don't have to buy a house before going into properties. With what you have, you can partner with/hire a good lawyer, rent a small office, and start up a property advertising website. You could advertise property for rent/for sale and differentiate these by providing photographs of the property (as this seems like what many people want.) In the future, with success, you can start to buy off derelict property, improve and sell.

- You can rent a 2/3 bedroom flat in a commercial area, furnish it with office desks/stationery, internet etc and offer it for rent to new entrepreneurs who want to start their businesses but who don't want to incur huge costs.

- Construction - employing young,able secondary school leavers who are willing to work on a full-time or part-time basis and training them to plaster, paint  houses etc. Provide them with nice company overalls so they have a sense of belonging (lol), get nice, professional vehicles, get a nice website, standardise your prices and put them on the site for all to see.

While there are construction workers etc all over Nigeria, this business will differentiate itself by putting a new face on construction workers, and it also provides an avenue for people who just want their house painted or who want to directly oversee their building projects by themselves without having to hand it over to a contractor who will probably eat half the money. Also, putting the business on the internet will reach the untapped market of those Nigerians who need these services but are restricted due to time/location. Deals could be sorted out with cement/paint suppliers to provide raw material, to even make it more convenient for the consumer. There are so many ways to expand on this/ implement it - You can start with 1 or 2 people, tools, website and a cheap bus for your runnings.

- Agriculture. There are so many things you could do with these but animal husandry seems to have shorter gestation times that planting crops. Crops however, might work if you invest in them - on the side. . .

I have a thousand ideas in my head, but I don't know what you're interested in. I'd be happy to discuss any of them with you if anything catches your fancy. (On this thread, so others can benefit).

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When i said buy laptops,i meant buy them outright.

My cousin got his tosiba sat pro for £240,your £1k is arm robbery for a sony viao.

The kind of laptops you should be looking for are those sold online and are on sales.

Also try looking for a chinese or japanese contact to get the laptops cos they are far more cheaper there but they don't come with guarantees or warrantees.

Same applies for the phones.

Buy brand names.

Now as for whether there is a market for that,the answer is yes.

Currently computer villa is experiencing lack of patronage for laptops as sellers can sit for a week at most wit no sale.

If you can build a list of interested buyer and present your prices to them,you will get sales.

This is what my firm handles for some of our partners in computer villa,we get clients for their products,they deliver to the clients,we pay them.

I won't go into the process.Cos it took us time to get it right.

My advise if you decide to dabble into it is,build a list of client who are interested in your price.

Which if you are getting the laptops are £210 upwards will give u at most 15k gain after import,tax and sale.

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Hello Mike,

Its a nice thing you understand the importance of putting your money where it works

and allowing your money to work for you. However theres this investment firm here in

Nigeria lagos to be precise and they got branches all over the places, I have dealt with them before and my dear i must say am impressed with them they are called Aims investment management, They can help you in planning your money and giving you good

returns like they did mine and am glad i did with them.

I can give you more informations about them just send me an email feelkc.daniel@gmail.com

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I laugh, I would still live with my parents in Nigeria, and at 23 owning a home isn't the most important thing to me now.

I am looking for what or how to invest my savings while I do my NYSC, I am sure there are options for 2.2 mill, even if it means putting it in a fixed deposit account for two years.

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To tell you the truth - 10,000 pounds is small change in Nigeria - that is 2.2 million Naira or so, boy, where do you want to start? You need a house, a ride, an office, and all these dont come cheap, unless you already have the above - i.e. a flat to live, an office to use and a car to ride, but without the above 2.2million is a small dough in Nigeria.

I am sure there are still one thousand and one things to do with that kind of money, share buying is no more prosperous, i beleive small buying and selling will increase that capital rapdly, but it al depends on what you train as, did u train as a technician or something where you make small repairs? the choices can be long realy.

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Naijacutee, I have a great payment plan that is interest free for an entire year, but buying high end electronics to sell in Naija is properly not a good idea. But abeg which plans can you guys advise ?

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I would not advice this to a fullest because a lot of fraudulent laptops and phones comes in the market making the price of the items very cheap.You could run at a loss trying this but if you have good business idea on how to go about it,then its okay

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My brother, selling of fast-moving items sounds like a good idea, but I wouldn't advise you to buy laptops/phones on credit o! The repayment options mean that you end up paying at least twice the original prices of the products (No matter how long it takes). Of course, if you are re-selling these things, you have to make a profit. How then do you cover the cost of the items, delivery an dmake a profit on top? The fact that you haven't paid off the full amount means that you are just collecting items on loan, to resell - probably at less than the loaned-for prices. Doesn't sound like a clever business plan to me o!

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Brianromel, thanks Jare. I have been so out of tune with Naija, I can't possibly see what kind of buisness I can start, but that phone and laptop buisness sounds good.

I get my laptop on 12 months credit here.

I am on a buy now pay later plan and I bought a Sony Viao, for about a 1,000 pounds that I pay off in bits, I can also get phones like that.

If I spent a good portion on my savings buying laptop and phones do you think there is a viable market for it back home ?

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Well look at the good side

If you come home and go for nysc,you would be working and getting paid,little as that may seem.

That presents an advantage,you can possibily start a business with that funds at where ever nysc posts you.

Ok,about investments i did say if you had 10k pounds best bet would be a fixed deposit for de duration of your service year 12months,find a bank that will give u between 10 and 14% per 3months.

Give the bank the money and complete your nyse by which time you will have gain some more money ontop of your initial investment.

Or you could find an importable product that can fly well in nigeria and bring them in as you come back,say laptops or phones.

If your interested in the business part,hit me on cjpumping2020 on yahoo so we can chat later.

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Wow, sorry man, you aren't being very enlightening.

The point of my entire post was to intimate that I was interested in investing in Nigeria and I was looking for advice as to what to invest in.

You then write a very oblique post that doesn't give any sort of information but promotes whatever business you are running.

You would have been more helpful if you had suggested what sort of investment would be worthwhile as opposed to letting me know that the source of wealth creation is investment.

Well if I didn't know that I would be asking the question in the first place.

Suffice to say, your entire post is irrelevant, and you didn't write that post with an intention to help me but to promote yourself.

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