Let me deep somethings for Nigerians, maybe it would spark a bit of anger.
A 9-5 pays PAYE (Pay as you earn) to the respective states yeah?
So, if I’m earning 300k as net salary, then my gross would be 370k issh.
Would roughly pay 41k as PAYE.
Now what’s that 41k supposed to cover?
The basic amenities like - water running to your house, electricity, good road network, wastage system, gas, security etc. yeah?
Now, that my 41k is supposed to be part of other people’s 41k, 3k, 100k and even 1m PAYE so we can get common amenities. Where we have to then pay maybe a subsidized amount to maintain these things from my 300k
So, in essence, I will pay 41k to have those amenities and maybe another 30k from my 300k to have access to those services on a monthly.
Now, here lies the problem- We provide water light and security for ourselves, yet we pay government taxes to provide same.
I have paid the 41k to government, and I am going out there to provide another 50-60k to get same thing I have paid before to government. Isn’t that like double taxation?
Let’s start from waste disposal- they don’t come, so you call Beruwa.
Water - no government water, so you build boreholes, buy pumping machines and buy tanks.
Gas - Government of Nigeria doesn’t even know that exists
Electricity- no stable light, so you have to buy generator or solar to sustain. Keep buying fuel etc or doing maintenance on solar.
Now if any of you deep it, that money you are using for all these things are actually supposed to be your savings for the future.
That 3m for solar, that’s money that if invested would help you on the future. Or calculate the fuel money you buy every 3days or the money you pay for electricity to pump water. Compound that money and you should actually have savings.
And yet, we don’t even hold our government accountable anymore
So sad.
So, you earn 300k, you paid tax of 41k already for basic things, you still end of paying another 50-60k to get those basic things by yourself.
You haven’t even considered food or travels or transportation or shopping or sending money to family. But you are already short by 60k
Well, it is well
Excuse my audacity in requesting 3 minutes of your time to watch this video.
Also pardon any oversimplifications and do your own additional research 😊
But here’s a lesson from my founder notes.
Cheers!
We've been on quite the journey over the last 33 years—and yet, I love you even more today than the day we said "I do."
Happy anniversary, @BarackObama! I'm so lucky to go through life with you. ❤️
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This round was the hardest thing I've done in my life, there were days I thought I would go into cardiac arrest, but I would just come and write jokes on Twitter to distract myself.
Validate your ideas, then work relentlessly to convert it into progress for yourself and the people that depend on you.
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Things may be hard, but we must all learn to do hard things.
Love & Light ❤️
1x YC rejection
3x VISA rejection
More than 20x VC rejections
Over 100 cold pitches ignored
7 months FDD & LDD
4x investor Yeses
No foreign degrees, blue passports or prestige alumni communities.
Not bad for a couple dudes from Isale-Eko and Ilorin.
Marketing and sales are the real superpowers because nothing happens in a business until someone pays you money.
Everything you do before then is just a hobby.
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