Loooooooogstory:
Salary 13k
primary school teacher

Qualification BA
5years experience in diverse sectors.
The pay is ridiculously low but what can I do? No one will dash you ordinary 6k talkless of 13k.
I am praying God provides a miracle. The kids are fun but when I get home, depression holds strong on me

No offense, but are you sure driving Uber, Keke or selling something in the market wont fetch you more than that? I beg, find something else and leave that job. My NYSC allowance in 1999 was more than that! This is as close to modern slavery as we can get.

kolamilan:
I pity those BDC Abokis who make daily transfers.

Stamp duty is paid by the recipient, not the person doing the transfer.

Victimoftribali:

Zenith and access bank charge me even for 1k transactions, how do we reconcile that?

Is $1k not more than N10,000 equivalent?

Ladiesdoctor:
I wonder why Nigeria govt has not make a strong decision to bring this multichoice to it's knee.
The monopoly is really taking toll on it's subscribers.
Believe me, if to say multichoice is own by a Nigerian in South Africa, the xenophobic people would have done something strange to it.

How I wish Orji Uzor Kalu is the NFF Chairman!

Anyway, Nigeria is a good country with good people.

God bless Nigeria

Which monopoly? You have GoTv, Startimes, Showmax, Netflix, Amazon, Iroko TV, even YouTube to some extent for your entertainment.

mamaafrik:
If Dapo Abiodun is a smart man he is supposed to drag that line from agbado to Abeokuta(linking ilaro and sagamu through the purple and orange line).

Isn’t there already a Abeokuta to Lagos train on the same track?

dre11:


https://punchng.com/where-are-they-five-most-powerful-persons-of-the-buhari-era/?amp

Is Rotimi Amaechi in the Senate!! I doubt that!!

Bestmanfornow:
Ongoing First Smart City in Southeast Awka Millennium City (AMC), the subscribers of the city has started erecting buildings after the completion of access roads, drainage channels, walkways, fiber optic, central water storage, Power sub-station etc, AMC comes with low density residential area, medium and high density residential area, The entire development sits is approximately 100 hectares of Land. AMC is been develop by M-P Infrastructure Ltd, AMC is a Premium multi-nucleic real estate development that is slated to redefine the concept of urban living within Awka, Anambra state.

WATCH the full video both ground and aerial coverage

https://www.youtube.com/watch?v=mBoTaPt_9c4?si=zncoxvaJJev_Brva

This is how new layouts should be developed. Well planned with infrastructure done first, before people start building!!!

mrvitalis:

The problem is Nigerians believe infrastructure drives economic growth

This is the foundation of the problem... Remember Obi vs Osibanjo debate 2019

APC is a firm believer in this theory just like awolowo

Build rail way, build roads, economic development and growth would happen... Yes it's seems like the most obvious answer right


Now let's me ask you this... If I go to your village, fix all their roads, build standard schools, health care center, given them 24 house electricity.... What exactly would that change... Please answer me

Would yout people be richer? Have better economic standing? Is yes by how much

In the village it wouldn't change much. Even in the city it wont change as much as we think. I agree with you on that! We often make lazy comments like "if electricity is 24/7, the economy's problem is half solved!!

Nothing could be further from the truth. It will have an impact no doubt, but companies will simply make more profit cos they are spending less on diesel and the owners will pocket the profits. Banks are amongst the heaviest consumers of diesel. Will they open more branches or necessarily employ more people because they have saved N5bln in diesel?

Economic growth is very delicate and a combination of many things such as:

1. Basic infrastructure for good trade and productivity (quality and efficient ports, good roads, bridges, airports etc)
2. Sound legal system
3.Consistent policy
4. Skilled workforce (most Nigerians think we have skilled workforce, but we don't)
5. Tendency for innovation and entrepreneurship
6. Respect for rule of law
7. Cheap factors of production
8. Quality internet - can be a good enabler of services like call centers, support centers, remote work etc)
9. Right legislative backing for business to thrive
10. And many more I can't think of.

Klass99:


Lol 🤣. I enjoyed reading this. Was it the xenophobic retaliation attacks that led to mass looting at Osapa Jakande? I thought it was the end SARS protests and toll gate shootings that caused that.

The Shoprite has been looted twice! First was Xenephpbic protest, but that one wasn't really severe looting. In fact it was more of just vandalization of some of the infrastructure there. But the end SARS one was MASSIVE looting. As in, they broke into most of the shops there and carried away electronics etc. Lekki Circle mall was shut down for over 2 years because of this. It just reopened last year July or so.

TopNotchTrends:


https://www.instagram.com/p/C12eYkYNBpn/?igsh=MzRlODBiNWFlZA==


Portable has purchased a new Mercedes Benz and he shared it on his Instagram page.

Portable who crashed the vehicle given to him by unique motors has previously dragged them for not providing him a new one. He has now purchased a Mercedes Benz.

Share your thoughts.

https://www.youtube.com/watch?v=fYWxSGwG3uQ?si=zraezS4ihfN09TW7

Why should they have provided you anew one after crashing the old one!!!

U09ce:
I was told that the only viable discos are Eko and Ikeja. Even Abuja disco is struggling - due to the neighboring franchise states (Niger, Kogi and Nassarawa). The privatisation of PHCN was ill thought and badly implemented. The power sector is unlike telecommunications where strong competition entrenched fairer prices. The value chain for power sector is longer--the gas supply part of it is dollar dependent. Thus, it's prone to several vagaries.
The minimum wage for workers is currently a measly 30k. The average take home of Nigerian families is probably less than 50k monthly. A KWh of electricity is now at least 60 Naira. A modest house spends up to 20k per month for 15 hours of electricity. How do you expect such a family living in penury to pay the power costs?
The government needs to get a viable solution to this mess

I agree with what you have said except the last part. Iv the average take home pay of a household is N50k, how are they using up to N20k electricity? My current bill is circa N30k, which is 420kwh of electricity and i have 43inch TV, i use split AC to sleep, use microwave, electric kettle, water heater, washing machine and dryer steady as needed without thinking.

So if someone is so poor, what appliances do they have that is costing N20k in electricity? So its either people aren't as poor as you think ( I have seen DSTV and AC several times in batcha) or you are overestimating what a poor person should be using in electricity.

mrvitalis:

It's not I'm not even close

But I can say I'm better than everyone in tinubu economics team

They are all bunch of Awolowo like socialists all of them

APC is a socialists partb

Lol...There appears to be something in that Abuja that makes smart people dumb! maybe too much administrative activity and not enough time to really sit and work. Cos with the amount of places these folks are always travelling to, meetings they are having etc, when is the time to sit and really do deep dives with a close knit set of think tanks. Cos ordinarily Edun and Cardoso should be a bit smarter and more active than they appear to be. Let's hope they figure things out.

Truth be told though, Nigeria is a funny country. One the one hand it's not difficult to make specific things work if there is really the will. Tunji Ojo has proven that. But at the same time, in some ways, Nigeria is also a very complex problem when looked at in an integrated manner.

mrvitalis:

Lmaooo bros read what you posted again

You want to school me? Socialists like you Lmaooo

The main aspect of reducing money in circulation is by increasing interest rate, bond and treasury bill

Limiting cash is lesser extent

Let's asume you are right by saying CBN reduced cash to reduce money in circulation

With our very low interest rate compare to inflation, low intrest in bonds and treasury bills is that not counter productive?

This is basic economics oga

No further Comment!! Your economics knowledge is top notch and unsurpassed in this country! Congratulations Sir!

mrvitalis:

Bro when they say money in circulation they don't mean physical cash... Sir , na w

They mean disposable income and you done reduce cash by reducing physical cash you do that by

Increasing interest rate above inflation rate
Offering bonds and treasury bills with good interest

It's a way of making people keep their money in the bank or locked up for longer period to reduce their purchasing power


Again who taught you economics

Physical cash is a COMPONENT of money in circulation, otherwise known as money supply...JEEZ!!!

https://www.investopedia.com/terms/c/currency-in-circulation.asp


And yes you can reduce money supply by reducing physical cash and also increasing interest rates as you have said. it can also be reduced by increasing bank liquidity ratio and cash reserve requirement!

Should I school you more!?

read and learn!!

https://www.investopedia.com/terms/m/m1.asp

https://www.investopedia.com/terms/m/m2.asp

mrvitalis:
[b]
[b]
What exactly are you even talked about

I'm explanation was simple yet you messed the whole thing up and mixed the point


Naira as lost value, to buy same goods u need more naira, since most transactions occurs with physical cash there would be demand for more n more naira note

CBN can't print more note to keep up because we are broke

Increased demand, little increase is supply = scarcity... Basic economics

What on earth is difficult to get here

Because you are the smartest person in the room abi. Na only you go school? Or you are the only student of economics abi? If all economists or business analysts thought the same way, there would never be differing opinions in the media. Stop sounding like you know the perfect reason. Can someone withdraw more money than he has in his bank account?

We have always said that there is too much money in circulation in Nigeria which is fueling inflation and makes economic management via fiscal policy difficult. So if CBN reduces money in circulation, have the done a bad thing? Besides more and more people are now saying they will accept transfer, which helps with what i said before and keeps more money in the banking system. And it has the dual purpose of increasing revenues through stamp duty.

There are many pro's and few cons from an economic perspective.

Be there talking basic secondary school 'increased demand/reduced supply = scarcity' economics, when others are talking Msc econometrics and micro/macro economics!!

TheFacelessMan:


The tiered system is an excellent one... but I am not sure Nigeria is ripe for it yet.

People will seek ways to bypass or tamper with meters to fall into lower tiers.

What I think needs to be done is ensure EVERYONE utilising electricity pays. When incomes rise, then you can start thinking of tiering.

See, it is an open secret that some just blatantly refuse to pay despite enjoying light. Let's get them to stay paying for it and revenues will rise.

I don't think it can make the issue of bypass any worse than it currently is. Current levels of electricity theft is very high.

But i agree that everyone needs to pay for what they use now. I often wonder how hard it is. If it were me in charge of say EKEDC, I'd ensure that house is mapped to their meter number and location identified on google maps. After that, its a simple case of running a program to see which meters havent been recharged in a while. Those are clear candidates to be checked for byepass.

And then have teams monitoring those who have tapped electricity directly with no meter at all, like barbers, welders, batcha folks etc The teams should go around with heavy assortment of police,, knowing fully well that people get violent when you try to cut their light.

And lastly, those caught either tapping light illegally or by passing their meters should be charged to court and fined.

mrvitalis:
I ask is economics taught everyone in Nigeria till SS3 the way it's done in SS/SE states
Because some things people say shows they lack basic economics knowledge at all


Naira has lost value about 100% value in the last 1 year

So demand for naira would grow by 100% since price of most goods have gone up

If u needed 10000 to go to market ro shop for weekend now u need 20000

Since most transactions still happens via cash
There would be more demand for cash

And I'm sure CBN has not increased cash in circulation by 100% ( because we are too broke to print that amount)

So that's explains the scarcity... This is basic economics

Quick to abuse others, but even your own knowledge of economics can be challenged. Even if you need more cash to buy the same things, should that change the amount of money in circulation? Before naira devalued, i carry like N10k in my wallet. Now that naira has devalued, I still carry N10k in my wallet, because my wallet has limited space and my income hasn't even changed. Do people just hold cash for no reason? Isn't the purpose of raw cash to spend it and keep it flowing in the economy?

Another theory is that CBN has mopped up a lot of cash to fight inflation, increase electronic transactions and therefore increase the revenue from Stamp Duty N50! If so, its a smart move and something i would have done.

Easiest way to solve this electricity liquidity crisis is to have a monthly tiered system whereby those who use less electricity per month pay less and those who use more pay more. In effect, heavy users will subsidize those who pay less. This achieves many things:

1. Subsidy moves from government to those who use a lot of electricity.
2. people are incentivized to manage their electricity usage so they don't fall into the next higher tier.
3. The poor and vulnerable are protected
4. Liquidity and investment in the electricity system will improve.
5. Weighted average costs per kwh still far lower than generator, which can be as much as N500/kwh

stepaside1:
These 2 gentlemen are arguably amongst the top 10 competent persons holding public jobs in this country. What have they done to deserve sack? Irukera as federal consumer protection boss recently saw to British American Tobacco paying that huge fine. Okoh on the other hand has been doing some good privatisation work. What on earth are their crimes??

The Job of the FCCPC is not to get fines. Its far, far more than that. Name 5 entities that have been privatized in Okohs time?

We didn't feel the impact of the BPE in last 8 years. There are so many government assets to privatize, commercialize, concession and sell, yet BPE could not achieve anything. For me sef, BPE and Nigeria Infrastructure Regulatory Commission should be merged. Among the assets a merged organisation should sell, commercialize and concession are:

Government NIPP Power Plants
Federal Secretariat, Ikoyi Lagos
Old Defence HQ, Race course Lagos
Newly constructed international airports (Lagos, Abuja, Kano, PH)
Nigeria Railway Corporation (separate company to mange tracks and another to manage locomotives)
Nigerian Television Authority (restructured as a legal corporate entity- if Channels and Arise can survive, why not NTA)

Deadlytruth:
Pat Utomi's was most painful. This is the time he would have gotten a ministerial appointment for the first time to enable Nigerians benefit from his wealth of knowledge but just at the verge of getting it he deserted the party which was very likely to win and give him a powerful portfolio.

I beg leave Pat Utomi. He's just an arm chair analyst with basic knowledge. I can guarantee you if Pat Utomi is given Ministry of Interior, he cant do as much as Tunji Ojo is doing. Too mant of these old analysts just know theory but cant get things done.

Another one that just knows theory is Bismarck Rewane. I've listened to that guy several times and i think he's grossly overrated.

HeadNigga:
Seun, you should also restrict these kind of questions to their sections...don't bring them to front page.

So a married man who watches porn and masturbates to it has cheated?

I tell you!!! Front page has been basterdized these days!!

Front page should be for really serious stuff!!

trutharena:


Source: https://www.vanguardngr.com/2024/01/breaking-doyin-okupe-resigns-from-labour-party/

Leftist and Rightist have no meaning in Nigerian politics. All politicians in Nigeria are exactly the same! Looking for the easiest platform to guarantee access to government, power and money for the grand ideology of looting and corruption!!!

The Finance Minister should be doing a comprehensive overhaul into the Requisition to Pay (RtP), financial control framework, payment procedures etc of the entire federal Government!!

It is currently way too easy to steal money in Nigeria!!

GuruboiNaija:


https://.ng/2024/01/08/wike-issues-fresh-warning-to-employers-in-abuja-over-tax/

See his red eyes!1 The guy is probably half drunk here.

favor914:
50 Naira 3 year charges will accumulate to 1 million Naira?

That means @ least 2 million transactions of 10 thousand Naira & above must have been carried out on that account in the last 3 years?

This your maths no jive o. For charges to be N1mln, you need 20,000 (N1,000,000 /50) transactions.

Fulgur:


It is completely unlawful, almost criminal to backdate implementation when such transactions have already been conducted based on existing standards.

This government is not just hopeless, it's definitely corrupt. It is a tax regime.

Its not backdating anything. The law was in place and signed by Buhari on 1st Jan 2021!! FIRS simply didn't enforce it for the foreign currency transactions the way they did for naira!

Back dating is when you sign a law today and say it should impact transactions from 2021!!

There is no case of backdating in this one.

I can bet 99% of folks here between Jan 2021 and now who have domm account haven't received up to 30credits into that account, which is N1500!

Even if you work remotely and paid every month, max that's 36 credits in your account, which is N1, 800. Basically a charge of $1.50 for 3 years!!

Tealcrestmedia:


Laws are created by humans and you don't slam unnecessary and wicked laws in people else they will revolt. Imagine a widow or poor family in Nigeria that's been receiving support from their relatives abroad and have probably spent the money, you want to start now to back bill them? Does that make any sense?

So even if said widow received $100 a month since then, that amounts to $3600 since then. At a average rate of say $/750, in that time she has received circa N2.7mln. But she will be asked to pay N1,800. That's 0.06%!!! So N1,800 in the context of N2.7mln is the issue?

What is wicked bout N1.8k!? ($1.50)

You all want Nigeria to be like America and Britain. Common tax of N1.8k una no fit pay.