₦airaland Forum

chimex38:
Without extension,
despite the price.
Despite the turbulent month of November amid Trump and tax balablu.
Still raised 0.25Trillion in a month!!
about Half of either Benue or Kogi proposed 2026 budget
This life no balance.

People stretched themselves for the company.

The company get plenty goodwill.

It helps that about 70% came in as FDI.

So the actual amount raised is more like N100bn, which is still a solid figure.

But I just didn't like that you were making it seem like my friend's state was low budget 😁😁😁

Zagee:
You are not aware Tony got his owm 750?? Well. he has just applied it

Ohh..
I see what you mean.
The AFREXIM Bank facility.

Zagee:
Half of 750m usd has gone to seplat. Tony Tony

Are you confusing Tony for Otedola?

Abi are you referring to a different 750m USD?

I was pleasantly surprised to find CONOIL small dividend resting in my account just now.

Also, they're removing the 0.08% stamp duty from NGX transactions, while for the larger population, they're keeping it, only changing the payer to the sender of the money.


I traded N60m these last 3 days. That would have been N48k extra money for me if I wasn't paying stamp duty.

ojesymsym:
Ah you are right, you did say in your initial quote that the Ngx is the only platform you can make billions and effectively pay 5%.

Nice one

Yes sir.

Fbn closed at N47.9

I picked at 40.65 averagely.

Agba saw it, he was still waiting at 27.

Mfunkynation:
Wisdom won't kill you!
What of entering with 10k, will I paying the yeye tax?

Entering with 10k, how?

You mean entering the market with $10,000?

ojesymsym:
Hmmm, I non sure say this your trick go work oooo....

Let us use another brick and mortal business scenario to analyze this, assuming I sell rice and beans in my store and bought Rice worth with an initial capital of 50m and sold for 100m in June, that is a profit of 50. Now I decided to now buy beans with the 100M and sold the beans at 95M.

At the end of December, the profit for the year is 45M from an initial capital of 50M. Nothing concern tax man with whether na beans or rice produce the profit, because your balance sheet will show a profit of 45M which I believe is what will be taxed.

But, I am no expert, just my own naive knowledge

You're exactly right with the tax man and beans scenario.

Which is why I said in the original post you quoted that the NGX is the only place you can avoid taxes like that. Cos it's only the NGX that has the reinvestment clause

The government knows that every other business restocks with proceeds from sales of their inventory but they didn't give them any reinvestment clause for tax exemption.

That's why the beans trader will pay his full tax amount, but we NGX traders will not be liable to anything.

If you don't want to make it obvious that you're gaming the system, you can space the transactions by weeks.

At which time there may even be volatility that makes you enter and exit the second tranch at N95m , N100m for a N5m profit on which you pay 25% (about N1m) which would be 2% of your original actual N50m profit.

ojesymsym:
Okay, just to be clear, by account, I meant it staying within the trading account like Morgan without withdrawing to my bank account.
Also, about the 5% effective payment you speak about, which is significantly different from the 30% we all seem to know, can you explain what you can achieve that.

Yes sir.

If I buy a stock with N50m in January, and by June, it's done 100% and is then valued at N100m

Even if I sell and have no plans to remain on the market, I will sell for N100m, then repurchase for N100m and resell for N100m.


Two transaction tranches:.
First leg: I entered at N50m and exited at N100m , N50m gains .

It won't be taxable cos I'm deploying the process into the second tranch.


Second tranch:

I entered and N100m and exited at N100m

No profits hence no tax.

ojesymsym:
Do you care to explain?

My own thinking has been that if I sell and it stays within my trading account without it touching my account, then I probably do not need to even declare not to talk of paying tax on it. Does this align with what you understand from the tax law or am I way off the mark?

I think they are 2 questions there, if you are pressed for time and want to answer only one of them, please prioritize the first one, I can always source the answer to the second one later.

If you sell and it stays within your account (or not):

1. you need to declare if the sale generated any profit even if it's 1k.
2. The profit will then only be liable to tax if all your sales in a given year exceeded N150m or your total profits exceeded N10m and you do not plan to reinvest the proceeds over the next 12 months.

eziokwunwoko:
(Bloomberg) -- Maurel & Prom agrees to sell entire 20.07% stake in Seplat Energy Plc to Heirs Energies, according to statement.
Sale price is 305 pence/share, for total amount of $496 million, with initial payment of $248 million and balance payable within 30 days
Additional contingent consideration of $10 million may become payable, subject to share price performance over the next six months
NOTE: Seplat shares closed Tuesday at 256.5p in London

Ahhh..
See why it's good to be patient.

I exited about 1200 units when it dipped to 248 pence just last month.

But being a trader, I'm sure I've made at least 20% on the proceeds since then.

Streetinvestor2:
Lol.i voted for the first time in last election and mobilised people to go vote.I didn't do it because of any party as I voted different party candidates for different offices.
Infact if my governor tells me presently to go vote a particular candidates. I will not even vote again for the kind vex I get for that supreme court governorof my state. So it does matter if all governor joins a single party. What have the governors done to better the lives of people in his state that people will even listen to his rubbish. Many Nigerians are against the new tax law which is a fact.It looks the window for borrowing is becoming a problem so this government desperately need new window to have money to loot....simple

I think you and I are the real problem. (You're not longer part of it since you went out this last one)

We prefer to sit inside AC and watch elections on the TV.

Then outsource voting to people who are more easily swayed, who can be more easily bought.

If all of us who wanted Peter Obi to win in the last election actually went out to vote for him, the outcome might have been different. I know there were people who really went all the way for Peter Obi, following ballot boxes and all, but there was probably another 10million of us who were just in our homes hoping he would win.

hopeful95:
'Wisdom is profitable to direct'

May Nigeria succeed! May the NGX mint money for us in the new year.

Happy New Year everyone!

Yes money that will be nearly tax free.

If anyone pays more than 5% of their profits on the NGX as taxes, then it's their choice, cos there are significant provisions to explore.

emmanuelewumi:
They got an undue advantage. The should have offered the private placement at the current market price or even higher than the market price.

Others would not have felt cheated if that was done.

1. Did you feel cheated when you happily paid 1420 for PRESCO when we were buying it at 1360 with instant access to the shares?

2. Which do you think would be better to do if you need a placee in 24 hours: offer at 10% discount or offer at 10% premium while your clock is ticking

3. This discount you're complaining significantly about is just about N1bn.

Now what if the bank gives a N200bn loan to an insider and price it at 300bps below prime lending rate, isn't that N6bn in free money just like that? That's if the insider doesn't end up converting a huge chunk of the N200bn to impaired asset o. It's N1bn that's now an issue??


It's not like I can't see your angle in all these o, I just choose not to

Why?

If I said I wanted to seek sec approval for a hedge fund at some point in the future, and because that sounded more sophisticated than you understood, you decided to label me a scammer, then I would prefer to see the faults, rather than the points in your arguments too. That's the vibes.

Streetinvestor2:
That I know I will not pay it or even the PIT to this government does not change the fact that is a useless policy.
Then I am happy in every wrong policy they introduce because it makes people see reasons to kick them out in 2027.The new tax law is useless and has no benefits to nigeria as it is filled with lies and yeye benchmark. The whole smooth talk if for it to just start so that they can come for your money to loot. Then when you complain nothing will come out because how many will go to thr court or can afford a lawyer. It is same thing that happened as we supported subsidy removal. The question now is how much has been saved and what have they used it to do that has benefited the people. God will never allow them go beyond 2027..amen

Has a single party ever controlled 29 states in this country?
I think the highest PDP ever got was 28.

It's looking like this 2027 you're betting on may not quite happen.

But what do I know? I've never even voted before.

emmanuelewumi:
Nothing stressful in that, their professional advisors will handle the stress

The stress in this context is:

What exactly would they aim to achieve with the unnecessary complexities.

If they wanted democratized access, they could have simply increased their RI size.

N10bn just isn't that material.

If you had said this about the $100m, that would have been understood, but even that needed to be PP cos most existing retail shareholders don't have dollars to give, even if the bank scaled the SEC hurdle of asking Nigerians for USD.

It's not like the option you propose conveys fairness too, since you're saying it's fastest fingers.

Let me look for @mikeappllo's trouble:

Can't wait for the new tax laws to kick in on Friday.

With these laws, NGX is the only place you can make billions and pay less than 5% effective tax rate!

That's much better than the previous 10% and better than the 20% average rate that most people earning over 50m p.a would pay.


I also stand to gain another N100k weekly if this stamp duty exemption is confirmed and implemented.

Whereas everyone else still has to pay stamp duty on normal bank transfers.

Now I'm begginning to see why stakeholders probably didn't object to the laws. Cos the only thing better is probably if they made NGX tax free, which wouldn't be fair, given that everyone else has to pay taxes, even those in fixed income pay 10%

emmanuelewumi:
Then announce this private placement about 2 month ago for qualified shareholders stating the minimum amount to be invested and allocation will be on first come first serve basis.

Then have the private placement offer towards the end of November 2025

They probably don't think N10bn is worth this much stress and I agree with them.

What's involved is just around 0.2% of their shares outstanding.


They raised a more substantial amount ($100m) back in june when they listed in London. It was also a short timed PP arrangement.

That's 15 times this current amount.

You didn't raise these objections at that time? Perhaps you weren't aware.

emmanuelewumi:
Nigerian shareholders don't read before voting at AGM. One day they will vote that insiders should take over the company, because we don't read the small print.




What is bad is bad

Minority can only have their say. 90% of the shareholders control less than 10% of the bank.

emmanuelewumi:
GTB only needed to reduce the proposed final dividend for 2025 by about 28k and they will get the N10 billion.

The N10bn wouldn't be the same. CBN says they won't reckon retained earnings as capital in this sense.

Hello Seun,
Feature request:

Could you please add a polling feature to NL if it doesn't already exist?

I think it could have a use case for avoiding heated arguments when opinions are divided.


We can easily spin up a poll, and each side sees what other thread participants think of their opinions/perspective.


A good challenge is if you could somehow make it float or roll over to say the next 3 pages of the thread, or stay visible on all thread pages for say the next hour or 2. Whatever achieves a good balance of visibility and guide against abuse of the tool.

Jesus loves you!

Streetinvestor2:
I am not disputing alhaji great impact. He is the only good thing that has happened to this country in a long time.I only called it out to show that this stations are still reaping us off as I know alhaji said he is doing direct supply to them at free or reduced cost based on his own trucks

Yes. Last I heard was that a device that would prevent drivers from discharging part of the fuel while in transit. (Like theyl drivers would often help themselves to 1 or 2 kegs from what they're transporting) . Alhaji said they were waiting for those devices to arrive before they could roll out more trucks.


But a larger issue is the fact that you had to order 500,000 litres minimum. That's 12 trucks, about N350m. Not every fuel retailer has the liquidity for such volume.

I think he tried reducing it to 250k litres. Still much!


I believe it will take off much more significantly if he just simply does 45,000

Cos most stations outside Lagos probably take up to 1 week to sell out 1 truck, it's not realistic and financially feasible that they'd order 6 trucks at a go.

Streetinvestor2:
That means he sold at serious discount. It means what he is chasing is so near and he needs the cash on ground and does not want to pay 30% cgt on the money next yr..lol

Yes. 30% CGT and the fact that the asset is already significantly priced above fair value would be reasonable motivations.

He still made about 5x of his investment in naira terms. I think 5.7x precisely.

Streetinvestor2:
.It is u that keep using price in a state or region to make it look like it is what that is happening in the nation called nigeria.

First of fall, the region or state is in Nigeria.

Secondly, you can do constant region comparisons you'd still get the same results.

If there was no Dangote Refinery, importers would simply be retailing PMS at around 70 cents per litre and then those of you farther from Lagos would simply pay a 5-20% markup on that same reference price.

The fact that you currently pay a higher price than is obtainable in Lagos doesn't disprove/invalidate Alhaji's impact.

lancee:
Oga mi o .. I wish all my brothers and sisters and all my oga's a Prosperous New Year !!!... ''Prosperous stock market ''

Same to you boss.

Nice to read from you.

First time in a long time for me.

This probably means you would have been paying over 1200 without Alhaji. That's if the absence of Alhaji's impact doesn't even push dollar over 2k, you would have been paying over 1500 per litre.

Same diesel that sold for 1700 in Lagos last year now sells for around 950.


The issue of the south south and south east being with higher living cost is its stand alone matter.

I noticed it too when I served in Bayelsa in the early 2010s.

After a week of decline from 12 - 17 December, reserves are back on the upward trajectory, just now $19m off the previous high.


NGN also back below 1450.

I called sub 1400 for year end. That didn't happen. But we're not too far off either.

CBN is projecting $51bn for reserves next year.

Harddiskng:
Same way you feel the need to keep quoting me lol

Not the same.

My mentions of you are necessary responses.

Your phrase is a redundant repitition.

Harddiskng:
I have read your post very well now.

Do what works for you!

Obviously. Why do feel the need to repeat the obvious??

Harddiskng:
It is not by force nau lmao

Do what works for you, i will do what works for me.

Didn't you read my post well?

When did I ask you to pivot?

All we do here is clarify misconceptions. When you make your billions will I spend from it??.