9jaRealist's Posts
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> If this sort of IGNORANCE can exist within our so-called academic communities, then... ![]() |
fecta:Sadly, that's just Naija REALITY right here! If she goes to court, it could well take YEARS to resolve. But she should contact the Lagos State Office of Public Defender anyway or use the Lagos State Multi-Door ADR system. The OPD may be able to get her some sort of immediate/short-term relief, and probably direct her to organizations that may be able to help with emergency or alternative accommodation. Best of luck to her. > |
femijamz:Eledumare forbid bad thing... Only thieves would pray to be like thieves!! ![]() > |
DabuIIIT:Yes o! They only "gat time" to mock Donald Trump every night on just about every late night show... ![]() |
IvarTheTerrible:Thank you! |
Hotzone:So will everybody else, including those legislooters... ![]() |
oluwaseyi000:They did NOT "throw in the towel".... They were thrown out of office by their EMPLOYERS - the voters! > |
. Nigerians - we never miss the opportunity to chase shadows instead of substance... So, instead of checking whether the items being removed from these offices (copiers, water dispensers, flatscreens, etc.) are GOVERNMENT property (and no wonder Nigeria budgets for the same office items EVERY year), the so-called "press" are more concerned with "mocking". SMH > |
I am not against the President's (or anyone else's) religious beliefs... But why are they using TAXPAYERS' money (the public treasury) to host Iftar? Once or twice as symbolism was okay... But PMB seems to be hosting government-financed Iftar dinners everyday. Haba!! > |
HospitalityDiva: Obi1kenobi: deepwater:It's NOT a tax holiday, but a TAX CREDIT (credited towards actual accrued tax liability) and for THREE YEARS (not 10 years). Furthermore, it is NOT being afforded only to the Dangote Group. Rather, there are actually a total of SIX private sector companies that will be accorded tax credit and relief under this Public-Private Partnership arrangement made pursuant to Executive Order No. 7 of 2019. Accordingly, in addition to the Dangote Group, the others are Lafarge Africa Plc, Unilever Nigeria Plc, Flour Mills of Nigeria Plc, Nigeria LNG Limited, and China Road and Bridge Corporation Nigeria Ltd. These 6 private companies will be investing in a total of 19 road projects (totaling approximately 794.4 kilometers in 11 states across each of the six geopolitical zones). For the avoidance of any doubt, Executive Order No. 07 provides is that private infrastructure providers shall be able to OFFSET actual audited tax liabilities accrued over a THREE-YEAR PERIOD (not ten years), within the lifespan of Executive Order No. 7, by taking a tax CREDIT (that is, a credit against such tax liabilities) up to the contract amount involved in each of the covered projects (apart from the 19 initial projects, proposals are requested from interested companies for additional projects). The only ten-year period referenced in the Executive Order No. 7 is the lifespan of the Order, which is provided to remain in force for a period of 10 years as from its coming into force in January 2019. Accordingly, there has NOT been any 10-year tax holiday or exemption granted to the Dangote Group or the SIX other private sector companies in relation to any of the projects currently covered by Executive Order No. 7, including the Apapa-Oshodi-Oworonshoki-Ojota Road project. > |
AutoJoshNG:This is INCORRECT! It's NOT a tax holiday, but a TAX CREDIT (credited towards actual accrued tax liability) and for THREE YEARS (not 10 years). Precisely, this PPP arrangement between the federal government and the Dangote Group was made pursuant to Executive Order (EO) No. 07 of 2019 (which is NOT exclusive to the Dangote Group or to this project but also applies to several other projects undertaken by several other private sector companies), and what it actually provides is that the private infrastructure provider (in this case, the Dangote Group) shall be able to OFFSET its actual audited tax liability accrued over a THREE-YEAR PERIOD (not ten years) up to the contract amount. The ten-years referred to in the EO is to the life of the EO itself, which was provided to remain in force for a period of ten years as from its coming into force in January 2019. The ten years does NOT refer to the period during of tax credit or relief. In other words, the Dangote Group, in this case, shall be offset its actual audited tax liability ACCRUED OVER ANY THREE-YEAR TAX PERIOD (not over ten years) by means of a tax credit taken within the ten-year lifespan of EO No. 07 (2019) up to the contract amount of N72.9 billion. The Dangote Group (or such other private sector infrastructure provider) will nonetheless still remain liable for any tax liabilities over the contract amount of N72.9 billion (both during the three-year credit period and/or the broader ten-year lifespan of EO No. 07 of 2019). > |
helinues:Abegi, EVERY Nigerian eats rice! ![]() > |
Richdad50:And how does EXPORTING donkey hides "give your children the feeling of eating meat"? Folks should quit EXCUSING criminality. The kids of anyone who can amass two containers of skins for illegal export are not going hungry. > |
nicepoker101:Access to clean water happens to be one of the topics specfically addressed under Global Citizen's 'Better World Initiative'... Afraid that topics like Herdsmen Slaughters, Ritual Killings, Kidnapping, Yahoo, Panties' Raiding, Election Rigging, Tribalism, etc., are not. > |
. Global Citizen has what it brands as "Better World Initiatives"... Access to water is one of such initiatives, and that's likely why Cuppy specifically addressed it. Meanwhile CDQ is busy listing Nigeria's shortcomings, not so that he and the rest of us can join hands to redress/resolve these matters ourselves but rather so that some Oyinbo benefactors "will know how to rightfully channel resources". The shamelessness of incompetent Africans/Nigerians can be truly mind-boggling! SMH > |
Superstitious ZOO! ![]() |
SageMK:Her (and EVERY Lagosians') "business" is keeping Lagos clean... Personally would not use her methodology, but her focus was clearly more on the dude's conduct than on his tiny willy. > |
SHOCKING how many Nairalanders apparently consider it normal to have a wee on the streets... ![]() > |
ThothHermes:Skepticism is humanity's highest duty, and blind faith the one unpardonable sin -- a savant. ![]() > |
RIP... |
nairalanduseles:At least I will "sit down" in my HOME and not in a jail cell. Don't drop the soap Naira... ![]() > |
Why are people congratulating Mr. Dickson for a meaningless position? Nigerian politicians love useless officialdom and these days "forums" seem to be the rage - Governors' Forum, PDP Governors' Forum, APC Governors' Forum, Northern Governors' Forum, Southern Governors' Forum, South West/Odu'a Governor's Forum, South South Governors' Forum, South East Governors' Forum, First Timers NASS Forum (that was on Nairaland yesterday), Ex-PDP Ministers' Forum, Forum for Wives of Ondo State Officials (trust me, that's a real thing), etc., etc., with every Tunde, Dike and Haruna jostling to be a meaningless 'chairman'. > |
nairalanduseles:Abami Eda must be rolling around in his grave, being compared with Yahoo boosters... ![]() |
Mustsucceed:Duh! I CANNOT edit my post that is quoted within someone else's post... However, I decline to join you in the gutter of childish false charges/personal insults because I was obviously raised better. SMH ![]() > |
Mustsucceed: ![]() Dude, first you confuse me for someone else and now you input that I am a GTB employee... Sometimes I tend to forget that in Nigeria, discussions are often about people and impugning motives instead of FACTS and substance. Like I said in the post you quoted, GTB is a PUBLICLY-LISTED and PUBLICLY-TRADED company listed on two stock exchanges, including the Big Board of the London Exchange (where reporting and corporate governance standards are extremely high) and thus its financial information and accounts are PUBLIC information that is easy to get for anyone who prefers discourse based on FACTS rather than beer-parlor rumors. I'm afraid that I have to disappoint you as I am not an employee, shareholder, solicitor, nor any other kind of advisor, to/of GTB, but merely someone who prefers intelligent discourse based on FACTS (rather than the childish gossips and/or churlish ethnicity-riven drivel that often pervades this forum). Nonetheless, my guess is that most people would balk at paying a fine they believe to be unmerited. Fortunately, there is an enlightened process for resolving such disputes, called the JUDICIAL process - which GTB has exercised its rights to avail itself thereof. > |
Mustsucceed:2.4 what?! Dude, I have absolutely no idea what you are talking about? > |
Dottore:Nope! That's gross PROFITS (that is, profit before tax)... In fact, to be exact it was N215.59 billion, while profit after tax (i.e., net profit) was N184.6 million. Like I said it paid an interim dividend of N8.82 billion to shareholders in August last year, with full year dividends to follow. As shareholders are equity risk-takers in a company, paying a N8 billion fine would merely mean foregoing one interim dividend (if necessary). You have to realize that GTB is not just a Nigerian company. It is listed on the London Stock Exchange, which not only means that all of its financial information is public knowledge, but also ensures that it adheres to the HIGHEST corporate governance standards. Accordingly, it is likely that GTB had long ago made provisions (via a general reserve) for this fine (what is known as a contingent liability) on its books. IFRS and Basel III (even Basel II) rules, which multinational (even Nigerian) banks are bound by, would definitely mandate such a provision. When a company like GTB makes N184 billion in NET profits (that is, profits after taxes, charges and PROVISIONS, including any contingency reserves) and pays out less then N10 billion in dividends, the rest of those profits go into (1) capex and (2) General Reserves/Shareholder Funds. Bemusing when folks argue that an N8 billion fine would cripple a bank with N3.29 TRILLION Total Assets and N576 billion Shareholder Funds. > |
Dottore: |
ThothHermes:Blind Faith: "the opium of the masses!" - an incredibly wise man. ![]() > |
But why shade the man though by insinuating that he is "the Tinubu of Rivers"? ![]() Meanwhile, what sort of "journalist" does not know that Lagos-Ibadan rail is NOT a light-rail project?! Haba!! > |
Chinashopping84:There are no tunnels and hardly any light in Nigeria... You would be better off promising jollof at the end of the reception! ![]() > |
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