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Our Investments At Home - Nigerians Abroad

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NOWADAYS, as a result of the economic situation in the world, Nigerians in diaspora have devised means of making investments with their hard-earned money. They are now making investments in real estate, stock exchange, transport sector and many others.

Most of remittances from abroad these days are for one investment or another. Nigerians abroad have resorted to investing in local markets with the belief that it will yield dividends. Some of them indicated their investments in the country in this online chat:

I left Nigeria about 10 years ago. Initially, I used to send money for the general upkeep of my family at home. Later, I realised that the earlier I started a small project at home, the better. Already, I own an estate with six three-bedroom flats in Ibadan; three four-bedroom flats in Lagos, another three-bedroom flat in Ibadan, and some landed properties. Here, there is limitation to the amount in your bank account. So why putting much in account and be prosecuted? I'll rather send it home for a worthwhile venture. I have a developer who handles the project for me, together with some members of my family. I have no problem whatsoever. –Ade
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I have got so many things I am laying my hands on for now. I can't live here forever. I dream of going home one day. I am into auto sales. I buy cars here and send them home for sale. I have people who handle that for me. The proceed is sent to me for another deal. It has been worthwhile. That's how I get going. In fact, I am surviving this period of economic meltdown because of those sales. Recently, I shipped about 10 cars of different makes to Nigeria and they had been sold. People in Nigeria get money to buy those things, for sure. I won't mind making cool money from such business. For now, I'm not thinking of any other investment. –Titi
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I have made a great deal of investment in the stock market. To say that I almost passed out due to the shock in the market was an understatement. I lost a lot of money. Of course, no one could be blamed. I am not resting. I'll still make more, though with caution this time around. I know when the meltdown is over, I will have reasons to laugh. For now, I can only consider options of buying landed properties in remote areas. I'm only afraid of these omo onile brouhaha.–Uche
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I sold my house to raise money to travel out of the country, together with my family, about 15 years ago. Today, I can speak of having about five structures in different locations in Nigeria. Though it was painful selling off the properties then, I think the benefit now is immense. I have a duplex where I reside any time I come to the country. I have other houses which are on lease. Aside that, I have some investments in stocks. As a matter of fact, I receive bonuses and dividends at every year ending. Though it is not very encouraging now due to the financial meltdown, I know once things become okay, my money will be worth it afterall.–Isabella
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Investments? I have so many in Nigeria. I have friends back home whom I supply okada to from here and I make money. After every sale, I invest the profit in other ventures. I can bet it that it is worthwhile investing from here — the yield is high. I can supply anything from here and make my money from it. Whatever they need from Nigeria, I can easily get it here. I use the proceeds to acquire many properties; land and houses in many parts of the country. –Jacob
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I am still young, so, I am not in a hurry to build houses in Nigeria. All I want is how to make more money from here. I am presently running two boutiques in Nigeria. I know what guys and ladies want and I always get it for them. I have access to latest wears here. It is easier to buy such dresses here. –Goodness
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I don't send money home, but I do send electronics. My people at home help me to sell it at reasonable prices, with a condition that part of the money should be used for a viable project. Through that, I have been able to acquire many properties at home. I bought a land in a remote area recently. I was later told that a telecommunications company wanted to acquire the land. It was a very good offer and I was able to make money from it. –Sukyakma
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Funny, isn't it? That a Nigerian will stay here without making efforts to invest at home. Well, I don't believe any Nigerian should stay here and not think of something that will help multiply his money. As a matter of fact, I am into so many investments in Nigeria. I participated in virtually all the public offers in the stock market. I have structures on lease in different parts of the country. I am into auto business, I buy cars here, send them home and sell at good prices. The proceeds from the business are invested in other things. Virtually every Nigerian I know here is doing that. You can't store up money here. Even dollar is not valuable here, but send it home, and it becomes gold. Every month, I am into one project or the other. Whenever I decide to come back to Nigeria, I am sure I will be able to live well for the rest of my life. –Tito
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I asked myself; what can I do to generate money? What problems could I solve that will make me richer? I got a good answer. Nigerians needed generating sets to cushion the effects of poor power supply on the economy. I have an arrangement with a company here from which I get generating sets in quantities and ship to Nigeria. I have since established a company dealing with the sales of the goods. So, once I send them, the company helps with the sales. That's what I am doing and I can tell you, it's worthwhile. –Tunde
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What's more? I have tried so many investments at home and I have failed. I had my money in some failed banks in Nigeria. Stock market has not even encouraged me since I lost a great deal due to the global economic meltdown. I think my only consolation now is an acre of land which still belongs to me. I don't know if it's bad luck, but I've not been lucky to invest at home. I am not thinking of coming home now, even ever. I am satisfied with life here. My family is here, so, no need to bother about any home. –Belly