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Business News

Why the Nigerian dream might be “in the abroad”

A young Nigerian man identified as David Hundeyin ( @DavidHundeyin) on Twitter, has shared a thought-provoking post about the increasing rate at which young Nigerians are leaving the country. See below:

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Young Nigerians

A young Nigerian man identified as David Hundeyin on Twitter, has shared a thought-provoking post about the increasing rate at which young Nigerians are leaving the country. See his Twitter thread below:

I attended my secondary school alumni meeting yesterday and I felt really, really sad about Nigeria. Bear in mind this is Atlantic Hall we’re talking about, so pretty much all of us won the birth lottery to begin with. 

But EVERYBODY IS LEAVING NIGERIA. This is not a drill.

None of us is struggling. We’re all late 20s to early 40s. By Nigerian standards, we are *balling*. Everybody showed up in a nice car, we all have successful businesses and careers. No one would see us and imagine that we are anything but Nigeria’s elite. Then we started talking.
First of all, the common theme was “Why did I come back?” None of us could say with a straight face. Every single one of us regretted returning to Nigeria. Without an exception. We all left careers abroad to chase a Nigerian dream that has turned into a Jordan Peele horror flick.
Those of us with kids all said the same thing: “I’m leaving because of their secondary school.” None of us can afford to send our kids to the very school we are alumni of. N3.5m per annum? What if you have 2 kids. Totally unrealistic. So, Canada. UK. US. Germany. Australia.
Again I should stress that none of us is looking for bread. We’re all successful people in our own right. But Nigeria has taken the difficulty bar from where our parents met it and placed it somewhere far out of reach, even for its best and brightest.
Now my question is this: If people like us whose parents owned property and did well for themselves before they died can no longer afford to remain in Nigeria because we are getting poorer, then what about everyone else? Mr political elite, pls what is the plan? I don’t see one.
Ordinarily, we are the lucky ones that should be consolidating on what our parents achieved and building legacies. Instead we are disposing of the property they worked for and moving abroad because Nigeria wants to strangulate us. What is the plan?
Are you trying to run a country without a middle class? Do you want every kind of successful professional to move to Canada before you are satisfied? Who will fly your jets? Who will give you primary healthcare before you fly abroad? Who will manage your money? What is the plan?
Me I’m just saying o, because if people whose parents built houses in VI and Ikoyi are selling them and emigrating, you should know that something unprecedented is coming. These are not Masters degree hustlers. These are Nigeria’a silent elite. Leaving. In a stampede.
Me I don’t have any property to sell thank heaven, because my family is unorthodox so nobody should come after me in my miniflat in Gbagada. Hustle ni mo’n se l’owo. But I’m just saying. I feel like Nigeria is a TV series approaching the final episode. I feel real, actual dread.
That’s all I will say sha. As you were.

1 Comment

1 Comment

  1. Stan

    April 16, 2019 at 7:17 pm

    Nigeria is a horror movie that has been advertising it’s premiere with mass unemployment, insecurity, nepotism, decaying infrastructure and ill educated citizens… The collapse will be televised

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Corporate Press Releases

Peter Obaseki retires as Chief Operating Officer of FCMB Group Plc

Mr Peter Obaseki, the Chief Operating Officer of FCMB Group has retired from the financial institution.

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The Board of Directors of FCMB Group Plc has announced the retirement of Mr. Peter Obaseki, the Chief Operating Officer of the financial institution, with effect from March 1, 2021. He was also an Executive Director of the Group.

His retirement was approved at a meeting of the Board of the Group on February 26, 2021. This has also been announced in a statement to the Nigerian Stock Exchange (NSE) by the financial institution.

The Chairman of FCMB Group Plc’s Board of Directors, Mr Oladipupo Jadesimi, thanked Mr. Obaseki for his valuable service and excellent support to the Board for many years.

FCMB Group Plc is a holding company divided along three business Groups; Commercial and Retail Banking (First City Monument Bank Limited, Credit Direct Limited, FCMB (UK) Limited and FCMB Microfinance Bank Limited); Investment Banking (FCMB Capital Markets Limited and CSL Stockbrokers Limited); as well as Asset & Wealth Management (FCMB Pensions Limited, FCMB Asset Management Limited and FCMB Trustees Limited).

The Group and its subsidiaries are leaders in their respective segments with strong fundamentals.

For more information about FCMB Group Plc, please visit www.fcmbgroup.com.

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Tech News

Deezer accepts payment in Naira amid stiff competitions with Spotify, Youtube music, Apple music.

Deezer has gained quite a reputation in Nigeria, as it slashes its subscription fee and now accepts payment in Naira.

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Deezer slashes subscription fee and now accepts payment in Naira amid stiff competitions with Spotify, Youtube music, Apple music.

Deezer, the French music streaming platform that has gained quite a reputation in Nigeria has slashed its subscription fee and now accepts payment in Naira.

This is coming a few weeks after Spotify launched in Nigeria and 38 other new markets in Africa.

The competition in the Nigerian music streaming space is getting hotter by the day. More music streaming platforms are entering the Nigerian market with better payment methods and cheaper pricing, thereby forcing existing players to slash their prices so as to hold on to their customer base

Launched in 2007, Deezer currently connects over 16 million monthly active users around the world to 73 million tracks.

Before now, Deezer’s subscription was rated at $4.99 (₦1,800) for premium customers and the family plan for ₦2,700.

This number has been slashed in half. The music platform now charges ₦900 ($2.36) for Deezer Premium, ₦1,400 for Deezer HiFi and ₦1,400 ($3.67) for Deezer Family Plan.

Other streaming players in Nigeria like Apple Music, Spotify, Youtube music, Boom Play, Audiomack and Soundcloud have also slashed their prices.

For YouTube Music, the monthly individual subscription costs ₦900 while a family plan costs ₦1400 ($3.67).

Spotify Premium cost ₦900 per month in Nigeria. The Premium Family plan goes for ₦1,400 for up to 6 family members.

Apple music charges ₦450 per month for students, ₦900 per month for Individual plan while the Family plan goes for ₦1,400 for up to 6 family members.

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