₦airaland Forum

Lazyyouth4u:
Most of the investors in Tbills are institutional and conservative investors that cannot afford to stake their funds in the real sector and other risky investments in the current economy. They must put that money somewhere and Tbills are the safest investments right now. Even at 0.1%, Tbills will continue to be oversubscribed until CBN decides to switch monetary policy to fighting inflation.

For CBN, the intention is not to punish or frustrate individual investors (with their small change). They believe/think low Tbill rates will force lending rates to drop and encourage real sector businesses to get cheap credit from banks.

No institutional investors will be happy to invest for less than 1% roi when inflation about to hit 14%, and devaluation lurking around the corner.
The only class of investors still doing TB are the PFA, and its strictly due to act Pencom act that clearly fobid/prevent them from investing in some class of investment. FG specifically gave them class and percentage of their fund they can invest in these set of investments. Plus the fact that PFA just sit down in their office and billions comes in monthly. Arm twisted by the law, they just do minimum % allowable on TB.
If you look at the trend they have reduced their TB investment from 1.9trillion to 1trillion since the rate started going south.
If the pencom act did not change, FG will be happy to keep TB rates at sub 1%

ultron12345:
Lol... Some people here are really doubting this fact that nigerians pay little to no tax.

Funny how they always jump when oyinbo says 90% of Nigerians are living in poverty, but when they say our taxation rate is one of the lowest in the world, they start doubting. People will only believe what they want to hear sha.

Anyone honest person who has lived abroad will tell you Nigerians don't pay tax. Whatever tax you think you're paying here is nothing compared to other countries, even our African neighbours. I have done trading in Nigeria and in some of our neighboring ecowas countries, [/b]and I can tell you that what you'll pay as tax plus union fees in Nigeria is just about one-third of what you'll pay as only tax in other countries[b], before you'll start adding union fees. Among the ecowas countries I've done business in, Chad seems to be the charge the least taxes yet it's still more expensive than what Nigeria charges. Ghana is the most expensive. No wonder they have tax to GDP at over 20%.

Even the tax sef, let's take the tiny percentage of Nigerians that pay it. What is the tax rare? Is it not about 6 abi 7% for a start. By the time you deduct all the allowances and rest deductibles, the effective rate will be 1 or 2%. Abi is it not in this country where I've seen civil servant payslips where tax will be N300.

Same thing reflects in our VAT. From 5%, it went up to 7.5%. Nigerians were complaining even when it's still among the least in the world and even amongst our neighbors. Cameroon is 19.25%. Niger is 19%. Benin, Chad, Togo are 18%.

Someone was even up there saying almost everyone both in the formal and informal sector currently contributes to NHIS. Seems many people on this thread don't actually live in Nigeria.

Well sha, saying something is expensive is relative. Based on our experience, we feel fuel of N160 is expensive, even when it is about N400 in countries like Niger and Ghana, both with lower minimum wages than Nigeria.

You simply trying hard to change the narrative, no body has argued that Nigerian pays the highest tax in the world or Africa. The figures you put up there are blatant lies.
If you earn salary, you pay max 24% of the gross income. If your own company do less ,then they are liable and fraudulent. What people argue against is to ensure accountability and block leakages.
Most of the tax from the informal sectors are huge but go into private pockets (politicians, touts, local chief)etc
I can bet that you don't pay half of what an average dando drivers pay in one month, per trip he pays N700, multiply that by min of 5 trips per day. In Lagos even those hawking pure water collects ticket, not to talk of okada riders, even the Chadian that pack waste do pay daily tax. All these monies goes into private pockets.
Govt should be sincere, block leakage and seen to be honest before talking of increasing tax rates.

By the way, income tax rate across Africa is readily available on the net, so I don't know where derive your fact from.

SamReinvented:
These kinds of outrageously expensive schools already exist in cities across the country. They are a thriving business in cities like Ilorin, Abeokuta, Kano, Kaduna, etc. You’d find lots of them in those cities. Yes, there’s a market but have you actually been to those schools? Those schools are a totally different world.

The facility is much better than the average school abroad in fact. The teachers they use are paid very high salary. Their recreational centres are total luxury. The classes are fully air conditioned. Their labs (both science and arts) are fully equipped (In every sense of the word). etc...

You’d need really deep pockets to be able to compete against these established options. If you have that deep pocket, then this is indeed a lucrative business. If not, there’s no way to make it work... cos rich people paying that high won’t accept “patch patch”... “help us manage”.

Something is still not right, money bags or even middle class spent so much on tuition fees for their children, but same money bags politicians won't create industries. They prefer to buy mansions in UAE, US, UK etc.
After graduating, just a micro % of these children have entrepreneur skills, they still end up in the labour market competing for scarce and poorly paid jobs. While some depend on the parents for stipend long after graduating.
While it is good to have quality education, conducive environment and opportunities is equally needed else the only advantage for all these posh schools will be spoken English which does the nation no good

SamReinvented:
I’ve not seen anyone in Nigeria who pays up to 50% of their income as tax. Yes... like half of your income. Sounds ridiculous? Well, that’s how much some people pay on just their income in developed countries. You’d rarely find anyone whose TOTAL tax makes up to 10% of what they earn in Nigeria.

Sorry, but Nigerians are heavily undertaxed. And it shows in our balance sheets, even when we compare our total revenues to other African countries, despite oil still shoring it up significantly. Without oil receipts, Nigeria would not even be able to survive. There’s basically no tax revenue. First, there’s the low tax base, and the very few people captured in the tax net pay very low percentages.

Say what!!! 10%?
If you work in a corporate environment you can't pay less than 20% of your gross earnings.
I pay 22% with virtually non existent infrastructure

ahiboilandgas:
very true .....very humble i suspect dr is wort above 5 bn .....but drives themself ever where .I dey collect investment lectures steady within my own capacity....IN HIS WORDS A GOOD STOCK IS BETTER THAN RENT.......with what zenith bank share is doing i now clearly understand .....the job now is to identify 3 qualify stocks and the right time (Like march this year) and plunge ...

This stock get as e be for me, never made kobo from it.
Those I bought long ago are now half the value I bought them.
Come to think of it, I have some decent idle funds around march this year from matured TB, rents etc
I decided to venture into agritech. At the end of sept. I made just about 3m in total total profit and at the same time have 3.5m still trapped with ThriveAgric and one other farm. Hoping they will still pay, especially the former.
I've exited though with huge experience

A man who pulled out a gun because of a mere strong wind/storm is simply exhibiting lunatic behaviour.
If a mad man takes your clothes you shouldn't run after him naked........
Please don't argue or debate with a mad dog

Oyindamolah:
Property 1 Ogun

It will cost you a whole lot to complete these buildings, since you don't have a good job at the moment. If the buildings are in good location, contact a reputable developer to complete them and have contract agreement on how to share the proceed from rent. It could be 20/80 or 30/70 say for certain number of years

Lazyyouth4u:
You can do it as a consultant . Really? Sir, how will they understand your reports?

Stop being petty

Most people have seek alternative to TB.
Only PFA are still buying, I'll rather leave my money in savings or mmf than wanting time on TB roi of <1%

@House, A friend recently brought a proposal for equity partnerships in his already running palm kernel oil mill. (He basically want me to provide funds for purchase of palm kernel in large qty so as to guarantee daily production)
I've seen his books, gone for inspection, but haven't given consent yet.

My preference is profit sharing (partnerships) with a legal written agreement.

Donno if there is any body on this thread that has experience in such venture. Advise will be highly appreciated.

drdrei09:
Thank you. Can I do this in a bank?

You also try United Capital Plc
Everything from acct.opening till transaction can be done onlinee

Crazeworld:
This is quite true. I went home during the last gubernatorial election in Kogi. Even the deaf and blind need no conviction to know that Yahaya Bello is a disaster but there many things wrong with us as Nigerians. The politicians only leverage on those things.
......................

No one could have said it any better, above narration is the true reflection of what happens during elections in Nigeria, be it Yoruba, Igbo or Hausa. ALL exhibited same behaviour.
But some naysayers will always try to exonerate themselves and painted their own tribe are saints.
In the last election judging from events, build-up and intensity the campaign generated across the six geopolitical zone, I was dumbfounded when I say the paltry figure coming out from SE. If you add up all the total vote cast in that region, it's not up to what a single state of Oyo gave to pdp. But they will be the one to complain SW returns APC.
By virtue of you not participating you have inadvertently gave the opposition an edge.
Note, I'm not a supporter of any party, and based on my assessment I adjudged this current government as the worst Nigeria ever had based on all indices