Once you Japada, you will be a target for all manner of philanthropy. Before indulging, ask yourself: Can you truly afford it? You may think the exchange rate favours you, but before long, unless you have truly deep pockets, you will be running out of money and may Japa be broke.
Make sure you’ve purchased your return ticket; otherwise, you might get stuck and may not be able to japan. Ma japada daran (Don’t return back only to suffer) lol 😀
Diasparan’s work hard to make a living, face cost of living crises, & food & energy price inflation. They also face inflation on house rent & high mortgage payments due to high interest rates; we struggle just like most Nigerians.
Unlike most Nigerians, most Diasporans perform their civic duty conscientiously by paying their taxes either by PAYE at source if employed or by self-declaration of self-employment. In the UK, the minimum tax rate is 20% up to a maximum of 45%
These taxes go towards building & sustaining the countries they now call home and also contribute to government coffers to the government to provide the safety net that sustains the needy during times of unemployment or those on low income.
In the UK, we also pay additional National Insurance Contributions from 8% to 10%, which go to fund the National Health Service, which enables the government to provide free health services at the point of use.
Yet another tax burden for Diasporans in the UK is council tax, i.e., local government tax. Every citizen residing in an apartment or house as a tenant or home owner must pay council tax. These taxes go specifically towards funding local government services like Policing, Refuse collection, Education, social services, care for the elderly, street repairs, lighting, maintenance & cleaning, CCTV, etc.
If you are a business owner with business premises, be it a shop or office, you also pay business rates to your local government too.
So when you see your brother or sister coming off the plane from Abu Dhabi, don’t see them as a target to be milked, but consider the fact that many of them have even struggled to come back & often struggle to maintain themselves in Nigeria whilst on their short stay vacation.
Having said that, it is definitely true that the pound, dollar, or euro in your pocket goes a very long way & further than ever before with the crashing of the naira. Cash is still King; you may find yourself withdrawing ten’s of thousands of Naira daily, which disappears fast.
Using your Nigerian bank card to do transactions is better, as most traders and businesses have POS services. Be sure to watch the transaction amount equate with what you are to pay. Always conceal your pin number, and make sure you get the receipt and your card is returned to you to keep in a safe place.
On the streets daily, I meet able-bodied Nigerians coming up to me gesturing with cupped hands towards their mouths, saying broda, please help me, then they say the dreaded phrase, please ebi nkpa mi Once I hear this, I switch off & tell them, point blank, “No.” Go and find something to do instead of begging.
There are so many jobs out there; some of these people just need to brush themselves up & become more responsible. Those with physical & mental ailments are more worthy of assistance if you can manage it. You will see many of them even trading or doing handwork if you meet them. Please patronise them if you can.
The number of people—many who are not really suffering as such but getting by—who will use you as their personal ATM is alarming. They will bring to you one problem after the other: the cost of fuel, school fees, repairs, medical bills, & all manner of bills.
The question to ask is, What will they do otherwise if you were not there? They will find a way or cut their coats according to their size.
Many will lure you in as family or for friendship or romance. I urge you to be very careful indeed & steer clear; all that glitters is surely not gold. You have been warned; if you fall into their traps, the consequences is Igbese (debt)
Some will lure you with business proposals & partnerships. I urge you to be very careful and don’t fall for these overtures, especially where they aren’t putting money down. Always involve a trusted lawyer & ensure that they are putting more equity down 60:40
This will give them more incentive to make the business succeed. Don’t invest more than you can afford; ensure control mechanisms are in place, & your lawyer puts in place tight exit strategies to protect you should things go sour. Above all, don’t invest if the numbers don’t add up or are excessively juicy.
Do due diligence & make sure you abide by the law in registering the business or partnership with CAC & the Inland Revenue Services for Taxes. You will need to maintain good record-keeping with a bookkeeper and an accountant.
If you Japada for business or to invest in Nigeria, focus on that & don’t get distracted; otherwise, hangers on; some family, friends, & acquaintances may bleed you dry, leaving you without funds to pursue your investment. Without a successful investment, you will actually be of little use to them anyway. Stay focused & don’t be a victim. Always be security conscious & limit who you talk to; you can’t be too careful. Evil is an evil that pervades our society.
If you think you’ve heard it all, you haven’t heard anything yet. Naija is hard, tough, & rugged, but it is also a good place to invest once you are prepared to understand & overcome the relentless hurdles you will certainly face.
Failing to prepare is to prepare to fail. May we not fail but succeed. The journey continues. What’s your view? Please share, thanks
Femi Oke
Betta9ja
