by

Patrick Ogungbola
MD/ CEO, BLUEHEDGE REALTORS

Welcome August

We welcome you to the special month of August 2018. While I was growing up, I used to wonder why are some people referred to as ‘August Visitors’; and why can’t we have January Visitor, July Visitor, or any other month Visitor. However, during my research on the origin of ‘August Visitor’, I found out that ‘In Europe there is so much respect for seasons that whenever they have an important guest, they call him an ‘August visitor’, the reason being that the month of August is the peak of Summer season and the most comfortable month of hospitality for the Caucasian race of Europe, hence, it is expected that the coming of any visitor within this period to any environment brings a change to the atmosphere as the whole locality will be aware of such a visitor and they are received and treated very well’. With the above understanding, it is our firm believe that this month of August shall be special, outstanding and impressive for every one of us.

The objective of our monthly article is to enlighten our readers and clients about the goings-on in Nigeria vis-à-vis the state of the economy, how it affects the majority of people and the effect on real estate and other ventures, while proffering suggestions on the way forward.

This writer, by nature of his work interacts with a lot of people from different locations and works of life. Recent interactions with people in Nigeria, and mostly Lagos which accounts for the largest number of residents show that there’s a drastic fall in people’s disposable income; or to say in another way, ‘there’s shortage of money in circulation’. The complaints about lack of money are really too much, that one may begin to ask, ‘Where has all the money gone to?’ No wonder, a recent report published  in June 2018 by Brookings Institution, a nonprofit public policy institution in the United States, showed that Nigeria has overtaken India as the country with the highest number of extremely poor people in the world’. According to the report, ‘At the end of May 2018, the trajectories suggest that Nigeria had about 87million people in extreme poverty, compared with India’s 73 million’. What is more is that extreme poverty in Nigeria is growing by six people every minute, while poverty in India continues to fall, says the report. Likewise, in March 2018, International Monetary Fund (IMF) reported that Nigerians are getting poorer, saying there is a need for coherent and comprehensive economic reforms.

Current Worlds Poverty Rating

Responding to the Brookings Institution’s report, the Nigeria’s Minister of Industry, Trade and Investments, Dr. Okechukwu Enelamah argued that the indices used for the report may have been compiled when Nigeria was in recession, and that the researchers may have used lagging indicators, instead of leading indicators. This statement is very typical of almost every Nigerian – living in denial and denying the obvious fact; however, if the report were to be positive or favourable (even though it’s unmerited or flattering), Federal and State government will find a way to create supplementary budget to celebrate the report, the cost of  which may run into billions of naira – Are we truly out of recession in the true meaning of the word? Who are we deceiving? Where did we get it wrong as a people and as a nation? There seem to be a disconnect between the political leaders and those they govern, that the former don’t seem to know about the conditions of the latter, or is it mere pretence?  Either way, the majority of people seem to have lost confidence in the political system and everyone is thriving to survive against all odds; it is indeed the survival of the fittest – but how can one be fit in the midst of lack and wants.
Soren-Kierkegaard-quote
Indeed, a typical Nigerian is a strong man or woman, it seemed God has built in us a special insulin and capacity to weather the storm and survive adverse conditions, and you will agree with me that if you can live and survive in this country, you can live in any part of the world and you’ll be very fine, be it in the coldest region like Antarctica or the hottest regions like the Libyan desert. If not, how could one explain a situation whereby a suffering young guy who seems to have no direction in this country suddenly becomes a prosperous man few years after leaving? A friend once told me that if a lizard in Nigeria cannot become a crocodile in America, at least, it can become a bigger lizard. This is the reason why almost everyone wants to ‘port’ abroad. However, there’s a caveat here, we need to realize that it is not always greener at the other side, there’s a prize (or prizes) to pay for success – there’s really no short cut.
There is no shortcut to success

No doubt, there’s really no perfect country or institution in the world; there will always be room for improvement over previous conditions, inventions or products. In other words, something ‘bad’ can be made ‘good’, ‘good’ to ‘better’, ‘better’ to ‘best, ‘best’ to ‘bestest’ (it’s not a bad English, please check google) – what is being said here is that, nothing is currently in its finest state; remember, the beautiful ones are still not yet born and, after ‘End of Discussion’, comes ‘Discussion Continues’.

With the foregoing therefore, this writer is very optimistic about the great potentials of our great country and her people. Indeed, there is hope and better days lie ahead! There will always be light at the end of the tunnel. We, Nigerians can make it happen. Every great country in the world today started from somewhere; even as symbolic and beautiful as Rome is, it wasn’t built in one day. Every problem in this country is an opportunity to create a solution for pecuniary benefits; money is not a right, it is a reward for solving problem. This is one of the secrets of the richest man in Africa, Alhaji Aliko Dangote, a man born and bred in Nigeria and who also lives in this same country where many are complaining of lack. This man doesn’t concern himself too much on what happens in the political arena; he is always busy seeking for opportunities to create solutions and products to meet the daily needs of Nigerians and other African countries. On a daily basis, we buy and pay for at least one of Dangote’s product, or is it possible for one not to use any of these products that Dangote’s company produce in a day: cement, sugar, salt and seasonings, flour, and agro packaging materials. He is also involved in property development and management, technology (Dancom Technologies Limited), port operations, transportation, food and beverages, including new areas such as rice farming, sugar farming, petroleum refinery and petrochemicals, fertilizer, gas pipeline, energy, amongst others. This is an insight into what makes this great man one of the richest man in the world.

Dont find fault, find remedy

The above is a lesson for us – rather than complaining about how tough and difficult the current economy is, or about how difficult it is to make money now, or denying and arguing on a well researched report, why can’t we be thinking of ways to contribute our quota to the system and device new ways to improve on old system of doing things, and to make a difference which will eventually translate into money. As emphasised in our last month’s article, complaints and blames have never and will never provide solutions to problems, we just have to get up and start working immediately. The truth is, there is no perfect time to begin, but now. If we wait for the perfect condition, we will never get anything done. Procrastination is a thief of time.

In this generation, everything seems to be geared towards speed and ideas are becoming dynamic and universal. Isn’t it funny that the things you are just planning to start are already being implemented elsewhere, and hence, you are already behind schedule in your implementation. Even what you are thinking about right now is already on the internet, just ‘google’ it. Someone once said that, ‘Your own morning starts the moment you wake up’, it is better to start late than never?

What will you be a year from now

The current economic condition being experienced now is not new; worse things have happened in this country and elsewhere. Although, I didn’t witness the Great Depression (and I’m happy I wasn’t born then), but I’ve read many articles on it and what happened then is better imagined, than experienced, and I don’t pray there will ever be another. Indeed, this time shall pass, and we shall experience better days. This is where it is very important to keep all hope alive and to stay alive to enjoy the goodies that the future brings. Sometime last year, I read something very instructive and enlightening in a book titled, ‘Be a Sales Superstar’ by Brian Tracy; he said in Page 137 that, ‘Make a decision that you are going to live to be eighty years old or more, and begin today to do whatever you have to do to achieve that goal’. The day I read that statement, my eyes lightened up because I have had the premonition that to live up to that age is not within anyone’s control but 100% God, but what Brian Tracy is saying here is that although God’s factor is very important in this, you have many roles to play to live longer, it is your decision; by watching what you eat, as well as your lifestyle, as many people have died due to careless living and preventable ailments which could have been avoided. To experience the good, beautiful new Nigeria we all desire, you must strive to stay alive, as one of our most revered staff will always say, ‘It is only the living that does business and knows the current situation of the economy’. Things will surely get better for us all.

Striving and thriving to stay alive

As usual, we want to remind you that we care so much about you, and that when it comes to your real estate investment and advisory, we are always here to give you the very best service you can never get elsewhere. That is our promise, and will always be.

Meanwhile, please find below the powerpoint presentations of our current properties for sale in Lagos, Abuja and Port Harcourt, Nigeria.

Thank you.

Affordable Properties For Sale in LAGOS

Affordable Properties For Sale in ABUJA, FCT

Affordable Properties For Sale in PORT HARCOURT, RIVERS STATE

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