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Retirement in Nigeria. An initiative. AIM: The sole & only aim of this initiative is to aid USA resident 45 years and above Nigerian born men & women to initiate & plan a Nigerian based retirement plan. Retirement in Nigeria. The Alternative. Retirement in Nigeria.

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an initiative

Retirement in Nigeria

An initiative


The sole & only aim of this initiative is to aid USA resident 45 years and above Nigerian born men & women to initiate & plan a Nigerian based retirement plan.

our usa retirement prospect

Retirement in Nigeria

Our USA Retirement Prospect
  • Mr. Obama said in his weekly radio address. “Half of America’s work force doesn’t have access to a retirement plan at work. And fewer than 10 percent of those without workplace retirement plans have one of their own.”
  • The retirement income deficit–the difference between what Americans (ages 32-64) have set aside for retirement and what they should have set aside at this time in their lives—is a staggering $6.6 trillion.  On average, that works out to a retirement deficit of about $90,000 per American household.
why a nigerian plan

Retirement in Nigeria

Why a Nigerian Plan?

Our USA Retirement Plans today:

  • Social Security?
  • 401K? - private
  • 457(b)? - govt
  • 403(b)? – non profit
  • IRA?
social security

Retirement in Nigeria

Social Security

Could we survive on Social Security?

  • Let's say we never get around to saving for retirement. We don't work for a company that offers a traditional pension, so the best we can hope for in our old age is a Social Security check.
  • The average monthly Social Security benefit for a retired worker is about $1,164 in 2010. 
  • Lets run some numbers:
our pensions retirement benefits

Retirement in Nigeria

Our Pensions & Retirement Benefits
  • We have worked in the USA for years and yes we will get our pensions & retirement benefits.
  • These would not sustain our retirement plans.
  • Which means that most of us would likely end up in retirement homes or homes for the elderly if we don’t have an alternative retirement plan with long term savings or one that includes investments in Nigeria.
need to work after 65

Retirement in Nigeria

Need to work after 65

8 out of 10 of us would be committed to one of these retirement homes if we don’t act now……

our virgin land

Retirement in Nigeria

Our Virgin Land


The country we come from is a virgin land with so much resources & potentials.

We are residents in the USA which is much more developed than Nigeria… right?

Seeing, living and experiencing these developments daily in the USA gives us a great advantage & edge over our mates in Nigeria.

our virgin land 2

Retirement in Nigeria

Our Virgin Land 2

We are not taking advantage of this position as we should for these and more of the following reasons:

  • Personal Security lapses in Nigeria
  • Unavailability of constant electricity power supply in Nigeria
  • Perceived high crime rate
  • None acceptance of Nigerian operational standards
our hindrances 1

Retirement in Nigeria

Our Hindrances 1

Militants & Kidnaps

Police in Action

our inheritance

Retirement in Nigeria

Our Inheritance
  • Our mates living in Nigeria visit the US and make cash purchases that we can’t afford to make…… right? Are all of our mates that earn and spend these monies Politicians, or are they all thieves & crooks?.........
why can t we

Retirement in Nigeria

Why can’t we
  • if they can do it why can’t we? Yes we can enjoy like they do in Nigeria & still enjoy what we do here in the States, this is how.
lets start here

Retirement in Nigeria

Lets Start here…..

We must honestly do the following:

  • Write down our phobias or deterrents about starting, operating or investing in a Nigerian business.
  • List the kinds & types of businesses you would want to invest in or start in Nigeria, (hint: start with the ones that interest you).

Here are some----

our businesses

Retirement in Nigeria

Our Businesses
  • Transportation Business
  • Hospitality business (Motel & Hotel)
  • Restaurant business
  • Computer sales business
  • Computer technology business
  • Construction Equipment supplies
  • Construction Equipment sales & rental
  • General equipment sales
  • American Auto repairs
  • American auto parts Sales & supplies
  • Private school business
  • Real-estate development business
real estate development business

Retirement in Nigeria

Real-estate development business
  • Lagos has some of the most highly-priced real estate in Africa, at around US$1,700 to US$2,200 per square metre (sq. m).
  • The recent increase in housing supply has squeezed rents, while prices are holding their ground. Rental yields for apartments in Ikoyi and Victoria Island in Lagos are around 5% to 7.3%. Yields are generally higher in Abuja than in Lagos due to less supply; at 8% to 10%. Beach estates have rental yields that range from 9% to 11 %.

Last Updated: Dec 2009

our businesses 2

Retirement in Nigeria

Our Businesses 2
  • Private school business
  • Real-estate development business
  • Oil & Gas industry supplies
  • Consultancy
    • Health & Hospitals Supplies
    • Construction
    • Airline & Airport
    • Financial
    • Environmental
our businesses 3

Retirement in Nigeria

Our Businesses 3
  • Building Materials Sales
    • Doors
    • Locks & Keys
    • Sinks & Toilets
    • Windows
    • Lightings & Switches
    • Moldings & Trimmings
  • Oil & Gas Fabrication business
  • Generator (Gen Set) Sales
our businesses 4

Retirement in Nigeria

Our Businesses 4
  • Farm Equipment Sales & Rentals
  • Solar Energy business
  • Power Generation Business
  • Network Marketing
  • Environmental & Waste Management Business
  • Quarry & Mining Business
  • Courier & Logistics Business
  • Construction Trucks Rental
  • IT Equipment Wholesales
  • School Materials Shop & Wholesales
  • Wholesale Multi Vitamins Business
  • Hospital Equipment Sales
our market

Retirement in Nigeria

Our Market
  • Now let’s discuss openly or privately the need for such a service in Nigeria
    • Is there a demand or need for this service?
    • Who is our target market?
    • Where will we find our target market in Nigeria?

Retirement in Nigeria

  • What are the pitfalls and hindrances with this business.
    • Can we take care, control or contain of them?
  • Are there other factors that would enhance or hinder this venture?
    • Lets list them out

Retirement in Nigeria

  • What is the profitability of this business or venture?
    • Don’t forget including all costs (your time etc)
    • Have you added the cost of capital?
human resources m anagement

Retirement in Nigeria

Human Resources Management
  • The Nigerian Human Resources Management Factor
human resources management

Retirement in Nigeria

Human Resources Management

Human Resources Management in Nigeria is a tough & complicated nut to crake…… but we will try.

There are no set rules but there are basics.

Pls Note “Nigerian employee” in this context is referring to the average Nigerian employee.

The Nigerian employee is relatively lazy & prefers to exhibit a lack of initiative.

Our poor educational system has left the Nigerian employee much less equipped to enter & perform in the job market and as an employee.

High levels of societal corruption

There are also other factors that we as the employer can control such as:

human resources management 1

Retirement in Nigeria

Human Resources Management 1
  • The Nigerian Employee has to deal with……
    • inequitable distribution of wealth, low morale, poor job-satisfaction, inter-cadre conflicts, disparities in remuneration packages and continuing migration
  • The Environment
    • The stress of working life in the big cities is high. Roads are bad. Chaotic traffic keeps workers for hours on the road every day. Household chores are carried out with only the most elementary & basic equipment because of the erratic power supply and chronic water shortage.
human resources management 2

Retirement in Nigeria

Human Resources Management 2
  • Family size is relatively large, even in cities (fertility rate per woman: 5.4). While the extended family system provides some support on the home front, it also involves additional responsibilities, with heavy demands on personal time and energy.

There is therefore a need for suitable work-family policies instituted by the employer.

business plan

Retirement in Nigeria

Business Plan
  • Lets write a conservative business plan
    • We must start with a Business plan
    • What it means to you.
    • Thanks for attending & I hope these will encourage us to plan our retirement in Nigeria & invest in her.

Retirement in Nigeria

Thanks for attending & I hope these will encourage us to plan our retirement in Nigeria & invest in her.