₦airaland Forum

CrystalTiger:
This Akpabio sef 😂😂😂😂

iamoyindamola:
He can even choke in his own drink

iamoyindamola:
Tear knee is out of the market as the werey was stretched off yesterday
He couldn't even stay fit to get the fvck out

izzou:
[color=royalblue]It is oh.

Only the very few can afford turbines. And even at that, they still need diesel, especially if they are handling their distribution.

Diesel mago-mago na serious business oh.

If not that the subsidy on Kerosene was removed, we would have been the highest producer of adulterated diesel in the Universe and Multiverse.[/color]

LordAdam16:
That argument only applies to personal income tax and related individual contributions.
Our large companies pay the lion share of taxes in Nigeria.
In 2020, PIT and CIT made up 11% and 35% respectively of our tax revenue. In the OECD, the numbers are 24% and 9%.

It is easier to extract tax receipts from and levy penalties on the large companies than on the average Joe.

-Lord

it is NIGERIANs first and foremost who create difficult environments for ethical investors

the government plays a part, but nigerians play their part as well

i saw a promising company that could have become an industry leader die and the oyibo investors pulled out because the CEO looted the company. they brought in one oyibo auditor like that, but they ran rings around the guy. if they had pulled out today not 4 years ago people would have been shouting tinubu when the reality is that the management looted the company until it was not viable

one of the reasons for high energy costs is internal fraud. try to deploy a proper system for measuring fuel consumption and you will experience resistance from different arms of the company.

izzou:
[color=royalblue]If you want to survive a Nigerian FMCG market, you have to be a Nigerian:

What do i mean?

Terrible work environment
Cut corners
Lobby and pay bribes
Undepay staff
Ati be be lo.

Na why these big names go find am hard to adjust. No matter how they try to reduce their price, they cannot become like us. Na why Asians dey survive here. Quality product, but go and see the work conditions or salary, and you'll understand better.[/color]

Ballzproblem2:
We dey fight godfatherism for Rivers state this isn't just blind support for fubara na wetin simple minds no fit grasp wether fubara na competent or not wike no smell power for Rivers state, we're good. 😌

DIAGEO, the United Kingdom-based owner of the iconic Guinness brand became the latest multinational to dilute its shareholding in a major outfit in Nigeria. This again points to the grave failings of the policy environment that have spooked multinational organisations with serious implications for new investments, employment, and the economy at large.

Eyebrows were raised recently when Diageo sold 58.02 per cent of its shareholding to Tolaram, a multinational. Diageo still produces several beverages in Nigeria.

However, some multinationals completely exited Nigeria. Those leaving cited higher operating costs that have eroded profits, inability to access forex, and a harsh regulatory environment as major reasons. Foreign direct investment into Nigeria fell by 26.7 per cent to $3.9 billion in 2023 from $5.3 billion in 2022. Household names like Procter & Gamble, Unilever, Kimberly Clark, GlaxoSmithKline, and Sanofi Aventis have exited fully or converted their business models to import and distribution. Jumia Foods and Bolt Foods are gone.

Microsoft and Meta have downsized their operations. PZ Cussons Plc is considering leaving Africa as a whole, partly due to its Nigeria woes, which have resulted in a 48 per cent drop in sales. The CEO, Jonathan Myers, cited macroeconomic challenges and complexities.


Most worrisome is the departure of Shell, TotalEnergies, ExxonMobil and Equinor. The IOCs are divesting their assets away from Nigeria with investments in other African countries with better business environments. Oil theft, insecurity, and hostile communities are chasing these companies away from a sector that accounts for 95 per cent of Nigeria’s foreign exchange earnings.

TotalEnergies recently announced a commitment of $6 billion to developing the Kaminho oil project offshore Angola after dumping Nigeria as an option. It is investing $600 million in Congo. The company’s boss, Patrick Pouyanne, blamed the decision on Nigeria’s erratic policy environment that has made investments untenable.

The government says these issues will be resolved with the ongoing economic reforms and has acknowledged that the absence of a liquid foreign exchange market is a key factor in the exit of the multinational. Minister of Finance, Wale Edun, is optimistic that things will improve. We do not share such optimism.

Multinationals play a key role in job creation, technology transfer, contribution to the tax pool, CSR programmes, and signalling for foreign investors. These departures have a negative multiplier effect on small and medium-scale companies, which are their suppliers and service providers. Thousands of jobs have disappeared.

It is incongruous that this administration has been busy globetrotting, seeking new investors while the existing ones are fleeing. That the government does not see the urgency of the situation is shocking. The fiscal policy and tax reforms that ought to provide a clear new direction and remove regulatory and tax bottlenecks should have been implemented by now.

Africa’s richest man, Aliko Dangote revealed that the Federal Government takes 52 per cent tax on every N1 his company earns in profit and that policy inconsistencies could easily lead to business bankruptcy. This sums up a picture of why Nigeria cannot be an investment destination of choice unless these issues are addressed quickly.

For a government that has sold itself as business-friendly, it must prioritise measures that support businesses, such as lowering taxes, streamlining business processes, trade facilitation, and creating a regulatory environment that is not predatory but delivers on enterprise development.

The focus should not be on how much government can extract from businesses. Businesses need to be thriving to recruit and pay employees, meet tax obligations, and undertake CSR. Policies should be clear and consistent.

Security must be improved to support agriculture and the oil and gas sector. The government needs to upgrade existing infrastructure. There is no point committing N15 trillion to the Lagos-Calabar Coastal Road when the existing highways are shabby.

afrodoc2:
That is where he made the mistake. He should have chosen a ju man with extensive civil service history or something like that, not a rugged politician or grassroots soldier.

E get reason why Tinubu choose Fashola and the others to become governor and not some other qualified loyalists.

afrodoc2:
This just shows that Wike is a bad judge of character. So, out of all his proteges this Fubara was the one he chose to succeed him?

Godstime001:
Bros u be ajebo? Cos all these things are like Normal things that happens. You are making it seems as if na Strange stuff.

GloriousGbola:
We can laugh about it, but this is why no oil company is going to put their HQ in the ND. They have done all their risk management and have understood that at the drop of a hat, the whole place can become a war zone.

These fools are messing up Tinubus plans for money from gas with their gragra

seankafor:
https://Twitter.com/SamuelNwanosike/status/1803005760541958499?t=tXsMzzRcnu1yHi6sbhmlpw&s=19

Ibime

Militancy don return ooo

Ibime:
Star boy

Saka is the face of England. Know this and know peace

Meanwhile I no dey see Foden as usual

Itsrm:
No official source for now. The CTC should be out later today or on Monday

The court held that granting the Appellants’ prayer for stay of execution of the lower court order would amount to determining the appeal at this stage.

The court therefore ordered that the Appellants must maintain the present status quo pending the hearing of the appeal.

iamoyindamola:
https://www.instagram.com/p/C8C9Ew0o_qR/?igsh=MTgxMTJ5NTRzaTBhbQ==

Wtf is this

iamoyindamola:
What will obi have done?
Apologize for stealing picture or not

iamoyindamola:
The veil
https://driveseed.org/file/xQHWb6YW2K

Itsrm:
No official source for now. The CTC should be out later today or tomorrow.

Emaprince:
You had to bring this picture up again

But for this man to really steal another mans childhood pic to pose as his? Smh. Some one that hired fake bishops to form support from christains.

Itsrm:
The court of appeal sat today and has directed that parties should maintain status quo prior to orders of lower court pending the judgment on the 20th.

As it stands, Martins Amaewhule is the speaker of Rivers State and the law extending tenure of local government chairmen stands.

I hear Martins and his fellow Assembly members have done a press conference thanking the court of appeal.

iamoyindamola:
Did you watch the boys
S4 first 3 episodes are out?



The book of negroes
https:// gofile. io/d/ 4i48Bb

Theflint1:
Be like na wetin dey reign now, I see sachet noodles inside coaster biscuit sized packs, ask who fit chop this one, dem say na small children...maybe na small children dem make the rice for too

GloriousGbola:
You are actually asking Itsrm, a ride or die for wike who believed that wike had a shot at securing the pdp nomination

Itsrm will be 101% biased towards a favorable outcome for wike.

The Presidential Campaign Council (PCC) of the All Progressives Congress (APC) has said that it did not apologize to the former Governor of Cross Rivers State, Mr. Donald Duke, for erroneous usage of his picture in a documentary on the presidential candidate of APC, Asiwaju Bola Tinubu.


The Director of Media and Publicity of the Council, Mr. Bayo Onanuga, in a statement issued Monday clarified that a purported statement currently in circulation credited to him did not originate from him.

He insisted that the campaign council did not issue any statement on behalf of Tinubu to apologize to Duke.