emmanuelewumi:
250,000 housing units at an average cost of N2.5 million per unit will cost about N6 Trillion every year.

We have people who have been paying rent for the past 20 years, without any hope of having their own house.

Some people might argue that it is not possible to build a housing unit for N2.5 million. But it is possible.

Cements in Nigeria are sold for about N2500, while the same products are sold for about N1000 by the same Nigerian makers in other West African countries like Ghana

emmanuelewumi:
250,000 housing units at an average cost of N2.5 million per unit will cost about N6 Trillion every year.

We have people who have been paying rent for the past 20 years, without any hope of having their own house.

Some people might argue that it is not possible to build a housing unit for N2.5 million. But it is possible.

Cements in Nigeria are sold for about N2500, while the same products are sold for about N1000 by the same Nigerian makers in other West African countries like Ghana

DigitalMallam:
PFAs invest N6.8tn pension assets in govt securities.

The economy cannot grow this way. PFA with staggering N9.8tn in their portfolio should sponsor a bill to enable them build infrastructures on their own like; modern speed of light rail, road networks, sea/airports and run it professionally. Helping this lazy govt source for fund which a sizeable chunk will be mismanage is like a spoilt child with zero intellect inheriting a fortune. In no distance time what will become of the inheritance.

healthserve:



We should blame it on the lack of good will in the stock exchange system... Of which its over 13years, it still lacks depth, direction and is not insulated from big forces that have the capacity to manipulate it.


Till the stock exchange is revamped and properly structured to prevent mainupaltive forces, funds flow in the country will continue to find expression through tbills investment, unless rates on savings are on par as tbills with additional incentives.


Even down to 5% per annum, its way better than savings or stocks where even after ten years capital can never be regained let alone gains yet we see listed and issuing institutions declaring annual profits. Spits. What a fantastically corrupt financial system/country

RealityShot:
WOW!
SERIOUSLY?
how?
including transportation fare!

see wickedness

Thisnut:
the reason is because of the cost of production in Nigeria is too high. Things are shipped into Nigeria, after all the import and export tax, cost of clearing and shipping fee, that same product is still cheaper than made in Nigeria.

damilola1978:
who absolves the risk?...I am sure you dont want stories that touch when it is time to access your pension

emmanuelewumi:


I am talking about Dangote cement made in Nigeria, that are exported to Ghana.

emmanuelewumi:


The average price is about N800 in North African countries.

It appears the makers of the products in Nigeria have agreed on how much they will sell the product.

Dangote cement controls over 60% of the market, but Lafarge, BUA, CCNN and others are not ready to start a price war.

I thought other players will use the price war to displace the market leader.

If you are based in Lagos or Western part of Nigeria.
There is a soft drink called BIgi, which has succeeded in eating big into the market share of both Coca cola and Seven up. The company used price war.

When the 50cl pep bottles of Coca-Cola and Seven up products were increased to N120 per bottle. Bigi came out with 60cl at N100.

Since then both Coca-Cola and Seven up have been struggling to recapture their market share.

Dangote cement also claimed the leadership of the cement market from Lafarge, through price war and serious marketing.

emmanuelewumi:


FSDH is highly reliable, it used to be one of the four discount houses in Nigeria because it metamorphosed to a Merchant Bank. They have a stockbroking subsidiary, asset management subsidiary and also have Pension fund management subsidiary.

It was 12.4% about 2 weeks ago. I have money market fund account with them and FBN Quest

Mizwisdom:



Don't worry it will soon reduce to 2% with the way it's going people will soon have no choice but to discard TBs investing for a while.

Mizwisdom:



Don't worry it will soon reduce to 2% with the way it's going people will soon have no choice but to discard TBs investing for a while.

Donbrig:
We speculate a lot in Nigeria. My people calm down, no cause for alarm at all. Naira won't be devalued again. CBN is facing their own challenges like every other monetary bodies in other countries. In 2020, FG must put an end to oil subsidy, and CBN must stop forex, Nigerians must help to boost our economy and naira by patronizing local products. Dollar has more challenges than naira on the global stage. Russia and China have completed plans to do without dollars in all transactions and EU have already concluded plans to challenge the unfair advantage dollar is having across the globe by initiating other form of payments without the dollar. In reality, dollar is bleeding more than naira, mainly Nigerians are still overrating the dollar.

emmanuelewumi:


The average price is about N800 in North African countries.

It appears the makers of the products in Nigeria have agreed on how much they will sell the product.

Dangote cement controls over 60% of the market, but Lafarge, BUA, CCNN and others are not ready to start a price war.

I thought other players will use the price war to displace the market leader.

If you are based in Lagos or Western part of Nigeria.
There is a soft drink called BIgi, which has succeeded in eating big into the market share of both Coca cola and Seven up. The company used price war.

When the 50cl pep bottles of Coca-Cola and Seven up products were increased to N120 per bottle. Bigi came out with 60cl at N100.

Since then both Coca-Cola and Seven up have been struggling to recapture their market share.

Dangote cement also claimed the leadership of the cement market from Lafarge, through price war and serious marketing.

healthserve:



If the leader of CBN is chosen from amongst bank top echelon, whose interest will he stand for/posture towards when decision is to be taken?...Plus, the regular economical meetings at top financial level, reflects more of the top guns who look first for business interest than national interest... This absolves Emefiele for being singled-out as anything. Its what our society wants..

We don't have an independent CBN chief. Many factors will pull anyone who sits on that chair

1. Presidency

2. Cabals within the govt

3. Bank Top Execs

4. Erratic economy. Almost zero productivity.

damilola1978:
Absolutely right...I was opportune to interact with some people from Zambia. The country has its state owned cement factories with different players, there was a bit of cooperation hence they had a standard pricing. When dangote cement came into the country...guess what...they started a price war...cement that used to sell for 50kwacha a bag, was now being sold by dangote at 35kwacha a bag.

This distabilized the cement industry in Zambia...every nook and cranny you end up seeing only dangote cement.

Without a price war...consumers just have to pay the price.

unite4real:


This scenario played out in 2007/2008 when there was too much money in the hands of citizens not knowing what to do. All of a sudden the entire airwaves every now and then was adverts of Initial Public Offerings of different commodities. While the foolish (including me) were front loading their money into and open ended pipe in the name of buying into an IPO and admiring the certificates, the financial crooks were at the back end of the pipe off loading the money in the name of trading (by hyping and manipulating share prices). Recession was the result. Sometimes i wished all my capital then were even in just a savings account without interest. The loss was too much. AFter then, i discovered Government Securities.

One thing to note is this. Money is like energy. For everyone that lost money, some other person gained it. The sad part is, 100 people can loose money to 1 person. The reverse is never the case. With the latest trend, there is likely going to be another experience of too much money and myriads of scammers. Even when a legit investment come your way, there is likelihood of funds over saturation which makes an investment company become obsessed. Only those with track records will be able to hold investors funds in keeping with promises.

I have series of BONDs and TBs maturing From February 2020 and Bonds coupons going on with the next one in December.

None of those moneys will be used for any other investment other than what i am used to. I will rather keep them trekking (short TBs or MMF) and wait for the prime time or nothing.

olusogo1:
It seems GTbank is not even ready to participate in NTB again, 2 primary market auction without success and account officer daily saying no secondary market, may have to port to another bank.

CHoccolaTE:

First bank as well, this is the 2nd time they are returning my money

emmanuelewumi:
250,000 housing units at an average cost of N2.5 million per unit will cost about N6 Trillion every year.

We have people who have been paying rent for the past 20 years, without any hope of having their own house.

Some people might argue that it is not possible to build a housing unit for N2.5 million. But it is possible.

Cements in Nigeria are sold for about N2500, while the same products are sold for about N1000 by the same Nigerian makers in other West African countries like Ghana

lancee:

He said the current government “came in at a time the reserve was $31bn and we did not devalue, so there is no question of a devaluation simply as a result of the reserve level falling to $30bn”.

FX reserve unlikely to fall to $30bn, no devaluation on the horizon – CBN

DigitalMallam:

I hate to discuss politics but this govt is taking us to be fools, no govt in the history of 9ja has ever enjoyed the good will bestowed unto the PMB govt. We love him without using our brain, we gave 100% support for petroleum product price increase, same offense we crucified GEJ. PMB and his team is good at just one thing 'telling stories and make beliefs'
There's no iota of truth in the above gibberish from the CBN, initially they told us the reserve was empty when they assume power, now its $31bn, and with all the unprecedented borrowing they have managed to save $9bn. As at 2015 our external borrowing stood at $12bn, now external borrowing is now a whopping $27bn, while internal is $56bn. The sad part is that they are asking for a fresh $30bn loan. Did I just read they never devalue the naira, perhaps they forgot the naira was N197 to a $ when PMB came to power.
The two premise upon which Emefiele believed will determine the fate of the naira are not within his control, oil price which is by implications determine external reserve - he can't do nothing about the two, that shows the kind of economics our CBN gov is practising. It is crystal clear that oga is out there to impoverish the masses while allowing a few cabals to increase their wealth. Or how do you explain tb going for 6% while omo (exclusive to the few) is doing 13%.

healthserve:



My sister. I recall this moniker we've interacted a few before now. But I don forget o. Anyways how family, and all?

About tbills reducing I don't have hand in such issues o. Before I'm targeted as an hater/spoiler...

Mizwisdom:


Yes, we have. You helped me when I was seeking advice on farming. I'm grateful.

Last year I made 15% now 8% on the same amount of TBs it will definitely become worse soon no doubt. Such an astronomical fall in 12 months is sad and we have the same govt and policies to contend with for the next 3 years so you can imagine this government only wants to stop the channels where the middle/lower class were benefiting, it's wise for us to start seeking hidden ways to reap from them again because as they have noticed TBs it can never be the same again until they are thrown out. So for people insisting on TBs till they die, it's unfortunate.

richforever123:
You guys should just forget about the rates increase, as long as Government is focusing on Taxation, it is getting money from other sources and does not need our treasury bills, this thread should be closed

richforever123:
You guys should just forget about the rates increase, as long as Government is focusing on Taxation, it is getting money from other sources and does not need our treasury bills, this thread should be closed

sempe123:
Now that treasury bill rate is very.Is it advisable for one to go into fixed deposit?