Saturday 21 February 2015

7 MOST EXPENSIVE CITIES TO RETIRE IN NIGERIA

A retiree should not be spending his golden years worrying about bills, the major determinants of  the best cities to retire in Nigeria  is off course the cost of living but events of the recent situation has come to  place the security situations as a major determinant  when choosing retirement destinations in Nigeria. Other criteria include cost of accommodation, hospitality of the people and now recently religious tolerance.
Others include availability of natural resources, good weather and favorable climatic conditions but also Strength of the job market. Retirees often tend return to the job market because their pension pot was not enough to carry them through their golden years, or some may have been involved in one relationship or the other that creates more avenue for expenditure.
But   a close observation indicates that the majority of the retirees wish to retire in the village because of the peace they desire and the low cost of living in those villages, but they often discover that the peace they desire  elude them in the village, as they discover that politics, land tussle and other issues came up to scuttle  the desired peace during retirement. these cities are most expensive cities to retire in Nigeria.


1 Abuja



Photo credit  abujaplaces.com
Abuja is the seat of Government, it’s one of the expensive cities  in the world, but it offers the best in security network. It is city that has only three exit and entry, the Kubwa axis that leads to Suleja in Niger state, the AYA axis that leads to Nasarawa  and the Gwagwalada , airport Rd axis that links Kogi .
It is a well planned city but most retired senators, government officials still regard it as a retirement destination as it affords them the opportunity to be close to corridors of power.
There are also suburb like Kubwa, Lugbe, Gwagwalada , Karmo and other areas retirees can live and have a happily life.

But the upward mobile retiree, this is the best place for them to retire.
 
2 Lagos 




Photo credited to bellanaija

This is the centre of excellence, a mega city that may be regarded as a conurbation. A city where anything can happen. The city that never sleep.The commercial nerve center of Nigeria, it’s an expensive city , where accommodations is very high, rent is two years in advance, although the Governor through law has pegged it at 1 year, but the agents, property and Estate managers, still determine what happens.
But it is city where with hard work you can always survive. For upward mobile executives, this is the best place for them to retire.
Virtually most organizations, banks, Pension fund Administrators, oil companies , insurance companies all  have the head quarters in this city.
It is a city that when you first come in , you will not like it, partly because nobody seems to care, the buses does not stop for you to enter, but when you stay there long , you will not like to leave. it is the only in the world where you are not welcomed.  "This inscription says this is Lagos"
 
3 Port Harcourt
 
image credited to Tribune


This oil rich city is adjudge to be one of the most expensive cities in the world, the presence of oil has made life expensive in this city, food stuffs are expensive, accommodation is expensive, virtually everything is expensive. Even relationship here is expensive as the city is well known for pay off when a young man leaves his former girl friend.


4 CALABAR
.


Image credited to crossriverwatch.com
The city is believed to be one of the best cities in the country, they are hospitable  and fun loving state, it is believed that anyone who cannot survive in Calabar cannot survive in any other city.
The obudu cattle ranch, , the Calabar carnival still drives flocks of people to Calabar, A neat state though their rent is relatively high but any fun seeking retiree will be happy to live in this city.

 5 ENUGU


Image credited to Nairaland
The coal city, also regarded as Eastern gate way. It is city of learning as the city prides itself with enough educational institution, a very peaceful state and may be also be regarded as  a commercial town. Enugu offers a moderately accommodation rate.

 6 Owerri
 
Image credited to Nairaland.com

Owerri is undoubted one of the most expensive city in Nigeria, the Eastern heartland is  fondly called is reputed to be among  the city that  have the highest number of hotels in the country.
The city is a peaceful state and at a time was reputed to be one of the cleanest city in Nigeria.
Accommodating, food and everything is expensive here.

  7 UYO


Image credited to Nairaland
This city though moderately expensive is still the cynosures of eyes and a good retirement destination. They are peaceful and accommodating. They are also  close to the commercial city of Aba, where you may get whatever you want in the area of goods, business and any commercial enterprise.

Reginald Odunze.com







3 Worst Places to Retire in Nigeria- Odunze Reginald C



A retiree should not be spending his golden years worrying about bills, the major determinants of  the best cities to retire in Nigeria  is off course the cost of living but events of the recent situation has come to  place the security situation as a major determinant  when choosing retirement destinations in Nigeria. Other criteria include cost of accommodation, hospitality of the people and now recently religious tolerance.
Others include availability of natural resources, good weather and favorable climatic condition but also Strength of the job market. Retirees often tend return to the job market because their pension was not enough to carry them through their golden years, or some may have been involved in one relationship or the other that creates more avenue for expenditure.
But   a close observation indicates that the majority of the retirees wish to retire in the village because of the peace they desire and the low cost of living in those villages, but they often discover that the peace they desire  eludes them in the village, as they discover that politics, land tussle and other issues came up to scuttle  the desired peace during retirement.
But be as it may the worst places to retire in Nigeria are as follows:

1MAIDUGURI
 
 image credited to premiumtimesng.com

Maiduduri used a to a relative peaceful state but all that has change with the advent of Boko Haram. The sate has known no peace, visitors are afraid to come to this state , even the real owners of the state are afraid to stay. Chibok girls  kidnap, Sambisa occupation is not making things easy.

2YOLA





Yola is also having thesame with maiduguri, business is now at sandstill, people are afraid  to stay in this state and the impact of Boko Harm is also devastating in this state


3 DAMATURU




 Image credited to channels

 The impact of Boko Haram has devastated the state , business no longer exist in this state. This clearly shows the impact of security on the life of the individual and the state.

The joint forces of African Union, West African forces and Nigeria Armed forces are battling to free these states from the strong grip of Boko Haram, and until they are fully liberated, these cities remain the worst to retire.

BEST CITIES TO RETIRE IN NIGERIA- Odunze Reginald C



A retiree should not be spending his golden years worrying about bills, the major determinants of  the best cities to retire in Nigeria  is off course the cost of living but events of the recent situation has come to  place the security situation as a major determinant  when choosing retirement destinations in Nigeria. Other criteria include cost of accommodation, hospitality of the people and now recently religious tolerance.
Others include availability of natural resources, good weather and favorable climatic condition but also Strength of the job market. Retirees often tend return to the job market because their pension was not enough to carry them through their golden years, or some may have been involved in one relationship or the other that creates more avenue for expenditure.
But   a close observation indicates that the majority of the retirees wish to retire in the village because of the peace they desire and the low cost of living in those villages, but they often discover that the peace they desire  eludes them in the village, as they discover that politics, land tussle and other issues came up to scuttle  the desired peace during retirement.
But be as it may the best places to retire in Nigeria are as follows:


1 IBADAN
.
Image credited to Techloy.com/cloudydesert.com

This commercial city that has been reputed as the largest city in West Africa, has affordable house, the best educational facilities , it has also a cheap transport system , welcome to Ibadan , and enjoy the hospital of the people, the buildings are being replace with modern facilities.


2  ILORIN



Image credited to punchng.com
The city of Ilorin has been reputed as the place that have a life of both world, a city ruled by the Gambari’s, a blend of northern culture and south western culture.  A city that has religious tolerance.  A place a serene and quiet lifestyle.Ilorin still remains one of the best place to live during retirement.

3 ABEOKUTA

.

Image credit weather forcast.com
Abeokuta has a cosmopolitan outlook and  the city  offers low cost of living, cheap housing, quality educational facilities and modern amenities. A retiree can live like a prince in Abeokuta, spend less and save more money,  he can also embark on a sightseeing in  places of interest which include the Olumo Rock etc. He can as well shuttle to Lagos to do one or two businesses and go back to Abeokuta within 3 hours. The state often referred to as the Gateway hotel has a good security network.

4 CALABAR
.


Image credited to crossriverwatch.com

The city is believed to be one of the best cities in the country, they are hospitable  and fun loving state, it is believed that anyone who cannot survive in Calabar cannot survive in any other city.
The obudu cattle ranch, , the Calabar carnival still drives flocks of people to Calabar, A neat state though their rent is relatively high but any fun seeking retiree will be happy to live in this city.

5 UYO
.


Image credited to Nairaland


This city though moderately expensive is still the cynosures of eyes and a good retirement destination. They are peaceful and accommodating. They are also  close to the commercial city of Aba, where you may get whatever you want in the area of goods, business and any commercial enterprise.

6 ENUGU
.


Image credited to Nairaland

The coal city, also regarded as Eastern gate way. It is city of learning as the city prides itself with enough educational institution, a very peaceful state and may be also be regarded as  a commercial town. Enugu offers a moderately accommodation rate.

7 JOS


Photo credit wikipedia

This city tends to be one best city in the world with a mild temperature and a conducive weather condition which gives rise to a good climatic environment. J Town as is fondly called has an attraction of both whites and blacks, but what drove the city to no 7 in the list is the occasional outbreak of hostilities in the town, though it has subsided, but that impression is still there. The city is relatively cheap with good road network and a cheap accommodation that is not obtainable any where in the country.


8 KADUNA



Photo credit saharareprters


This city pride itself as the centre of Northern Nigeria, it is regarded as the capital of northern Nigeria, there is no retired northern military leader that do not  have accommodation in this city, the city is also a centre of learning, with presence of enough educational institutions, federal parastatals etc, The Kaduna Mafia is still fresh in our minds, but that is not the object of our study.
The city is the centre of military learning; the Nigeria Defense Academy is located here. Although has occasional outbreak of hostilities. it is still  a good place to live.

9 LAGOS.



Photo credited to bellanaija

This is the centre of excellence, a mega city that may be regarded as a conurbation. A city where anything can happen. The city that never sleep.The commercial nerve center of Nigeria, it’s an expensive city , where accommodations is very high, rent is two years in advance, although the Governor through law has pegged it at 1 year, but the agents, property and Estate managers, still determine what happens.
But it is city where with hard work you can always survive. For upward mobile executives, this is the best place for them to retire.
Virtually most organizations, banks, Pension fund Administrators, oil companies , insurance companies all  have the head quarters in this city.
It is a city that when you first come in , you will not like it, partly because nobody seems to care, the buses does not stop for you to enter, but when you stay there long , you will not like to leave. it is the only in the world where you are not welcomed.  "This inscription says this is Lagos"


10 Abuja



Photo credit  abujaplaces.com

Abuja is the seat of Government, it’s one of the expensive cities  in the world, but it offers the best in security network. It is city that has only three exit and entry, the Kubwa axis that leads to Suleja in Niger state, the AYA axis that leads to Nasarawa  and the Gwagwalada , airport Rd axis that links Kogi .
It is a well planned city but most retired senators, government officials still regard it as a retirement destination as it affords them the opportunity to be close to corridors of power.
There are also suburb like Kubwa, Lugbe, Gwagwalada , Karmo and other areas retirees can live and have a happily life.

But the upward mobile retiree, this is the best place for them to retire.

REGINALD ODUNZE.COM

How a 1% savings boost could sweeten your retirement-By Anne Tergesen

money tree
Thinkstock
 
When it comes to saving for retirement, what difference can another 1% of your pay make?
Plenty.
Thanks to the magic of compounding, “a little bit (of extra savings) today can go a long way tomorrow” in terms of the retirement income it’ll generate, says Fidelity Investments, which crunched the numbers for a report released this week.
According to Fidelity’s calculations, a 25-year-old with a $40,000 salary must set aside an additional $33 a month to save an extra 1% annually. But that little bit of extra savings will translate into an additional $320 of monthly income (in today’s dollars) over a 25-year retirement. (This assumes our 25-year-old earns a 1.5% annual raise, net of inflation, works until he is 67, and earns a 7% annual return.)
Of course, the benefits are less dramatic for those with shorter time horizons. But that doesn’t mean the strategy isn’t worthwhile.
According to Fidelity:
  • A 35-year-old with a $60,000 salary who saves an extra 1% annually must save $50 more a month now, but will receive an additional $270 of monthly retirement income in today’s dollars.
  • A 45-year-old with a $70,000 salary who saves an extra 1% annually must save $58 more a month now, but will receive an additional $160 of monthly retirement income in today’s dollars.
  • A 55-year-old with an $80,000 salary who saves an extra 1% annually must save $67 more a month now, but will receive an additional $70 of monthly retirement income in today’s dollars.

The message: Small steps can have big consequences when it comes to retirement.
“When you ask people, ‘Can you save more?’ many people think, ‘I can’t,’” says Jeanne Thompson, a vice president at Fidelity. That’s because they “assume that they have to save so much more and a little bit isn’t going to make a difference.” But the key insight, she adds, is that “little incremental differences can make a huge difference over time.”
According to Fidelity, many people underestimate the impact saving 1% more can make. When asked how much an extra $50 a month would amount to over a 25-year period, the median response was $17,000—or less than half the $44,000 value Fidelity projects.
Fidelity recommends putting away 10% to 15% of annual pretax pay for retirement, including matching contributions from an employer. “But if you don’t save this much from the get-go,” don’t despair, the company says. “Start by saving up to the company match,” says Thompson and then increase your savings rate by 1% every year until you hit the 10% to 15% target.
More potentially good news: When told the benefit of saving 1% more, almost 90% of the 1,039 people who responded to a poll Fidelity conducted said it would either be an “extremely easy” or “easy” thing to accomplish.
As the economy improved, 22% of Fidelity’s 401(k) investors actually increased their savings rate over the past year—by an average of 4 percentage points (that is, 4% of their pay).

Culled From MarketWatch

Friday 20 February 2015

NASS approves life pension for president, vice in new Constitution -By Johnbosco Agbakwuru & Joseph Erunke



*House in session




ABUJA—THE National Assembly, yesterday, completed the amendment of the 1999 Constitution with approval of life pension for anybody who has held office as President or Vice President, Senate President or Deputy Senate President, Speaker or Deputy Speaker of the House of Representatives.
But beneficiaries of this gesture must be occupants who successfully concluded their terms in office without removal or impeachment.
The amended constitution, which was presented as motion, to  the floor of the Senate by the Chairman, Senate Committee on the Review of the 1999 Constitution, Senator Ike Ekweremadu, for onward transmission to the president for assent, also made it mandatory for the president to appear once a year before the joint sitting of the National Assembly to deliver an address in respect of the state of the nation.
But the president, in the expected constitution, loses the power to solely assent to bills passed by the National Assembly. The same applies to state governors.

The amended Clause read: “Any person who has held office as President or Deputy President of the Senate, Speaker or Deputy Speaker of the House of Representatives,  shall be entitled to pension for life at a rate equivalent to the annual salary of the incumbent President or Deputy President  of the Senate, Speaker or Deputy Speaker of the House of Representatives, provided that such a person was not removed from office by the process of impeachment or for breach of any of the provisions of this Constitution.
“The president shall attend a joint meeting of the National Assembly once a year to deliver an address in respect of the state of the nation. He may attend any joint meeting of the National Assembly, either to deliver an address on national affairs including fiscal measures, or to make such statement on the policy of government as he considers to be of national importance.”

Culled from Vanguard