Before you accept Contract from Nigeria Government Agencies

In Nigeria, you cannot tempt me with a contract of 1 billion naira that requires me to borrow money to execute it and then start waiting to be paid. Even if the profit is N500 million, I won’t touch it.

You borrow money to execute a contract, then start begging to be paid.

Meanwhile, interest is piling up on the borrowed money and on the extra money you keep borrowing while waiting for payment.

When they finally pay, if you are lucky, you use everything to settle debts and return to square one.

And you say you are doing business.

In any country where there is no sure consequence for breaching contracts, and where the judiciary is not quick to deliver enforceable judgments, be very careful about doing contracts on credit.

There are people that are always chasing one contract or the other or waiting to be paid. They are almost always broke. They claim to know someone in every government and are always submitting proposals to do this and that. If I tell them that they don’t really have a business, they get angry.

I told one of them: why don’t you settle down to start one business and build it up. Since you like contracts, you can at least have a good and stable business that pays your bills while hoping for a windfall from the huge contracts you are always chasing. You can’t be steadily plunging your family into debt and crisis back to back in the name of contracts.

The guy no dey talk to me again.

Wetin concern me.

As much as possible, build a business model that does not require you to be owed, no matter who the customer is. It will save you from high blood pressure and possibly going back to your village.

I don't know how people allow themselves to be convinced to do such with Nigeria government o. All the risks on you and you think it won't go south

My friend tried it and regretted it.

It was as though he was begging them for money.

He would send a message and for days, nobody will reply.