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Author Topic: The beating that Nigerians and Nigerian businesses have received  (Read 826 times)

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ogboso

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According to Oluyomi Ojo:

The beating that Nigerians and Nigerian businesses have received in the last 5years is actually from hell. If you think you are doing great earning in Naira. You could have done 3X better.

You are wondering why you graduated and you can’t find a job? Calm down, the companies that should have hired are unable to grow thanks to devaluation and other things. Imagine the Naira staying at N150 to a $ till this day. Imagine the effect on GDP and GDP per capita.

Let me also remind you that the if you buy online adverts for $1 per 1000 impressions. In 2015, you’d need N150k to buy 1m impressions. Today, you’d need N450k to buy the same thing. Scale that across server cost, tech tools, cost of goods etc. Basically anything you buy in $$

You are getting poorer by the day but no one to tell you. You are earning more but getting poorer as well. You are like “How far?”, “Ki lo n happen?”... it’s not you. It’s the Naira 🤣

It’s actually funny that in 2015, N150m revenue was $1m, today you need to make N450m to declare $1m revenue. If you launched same business in KE and NG in 2015 and grew at same rate & same local revenue, the KE entity will be making $3m while the NG entity’s revenue would be $1m

You bought a house in Nigeria for N150m in 2015, that’s $1m, you need that house to appreciate by 300% for it to be worth $1m in today’s Naira value (N450m).

Show me any property investment that can grow 3X in 5 years. When it’s not MMM.

We need to constantly remind Nigerians that things are bad and they are not getting better for the country. Less people get carried away. The poverty is in the number.
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