₦airaland Forum

CBN Auctions N35b 181-Day Bills at 17.84% Stop Rate
https://www.businesspost.ng/2017/10/14/cbn-auctions-n35b-181-day-bills-17-84-stop-rate/

Forte Oil Posts N5b Profit in 9 Months Despite 20% Drop in Revenue
https://www.businesspost.ng/2017/10/14/forte-oil-posts-n5b-profit-9-months-despite-20-drop-revenue/

NSE: Stock Market Value Grows 1.45% to N12.7tr in 5 Days
https://www.businesspost.ng/2017/10/14/nse-stock-market-value-grows-1-45-n12-7tr-5-days/

French, UK Shares Down as German Stocks Rise
https://www.businesspost.ng/2017/10/14/french-uk-shares-german-stocks-rise/

Japanese Stocks Surge to Fresh 21-Year High Ahead of November Polls
https://www.businesspost.ng/2017/10/14/japanese-stocks-surge-fresh-21-year-high-ahead-november-polls/

Stock Market Investors Lose N20b in One Month
https://www.businesspost.ng/2017/10/13/stock-market-investors-lose-n20b-one-month/

NSE Appoints Jalo-Waziri Central Securities Clearing System CEO
https://www.businesspost.ng/2017/10/12/nse-appoints-jalo-waziri-central-securities-clearing-system-ceo/

NSE Index Adds 0.22% as Massive Offload of Diamond Bank Shares Persists
https://www.businesspost.ng/2017/10/12/nse-index-gains-0-22-as-massive-offload-of-diamond-bank-shares-persists/

Nestle Board Meets on Interim Dividend Payment, Others
https://www.businesspost.ng/2017/10/12/nestle-board-meets-interim-dividend-payment-others/

5 Key Things Start-ups Must Have to Attract Investors
https://www.businesspost.ng/2017/10/12/5-key-things-start-ups-must-attract-investors/

Nigerian Equities Grow 31.87% in 9 Months
https://www.businesspost.ng/2017/10/12/nigerian-equities-grow-31-87-in-9-months/

N62b OMO Bills Mature Today
https://www.businesspost.ng/2017/10/12/n62b-omo-bills-mature-today/

NSE Index Rises by 7.01% in Q3 2017
https://www.businesspost.ng/2017/10/11/nse-index-rises-7-01-q3-2017/

Nigerian Equities Shed 0.15% as Diamond Bank Trades 215.8m Shares
https://www.businesspost.ng/2017/10/10/nigerian-equities-shed-0-15-diamond-bank-trades-215-8m-shares/

Q3 2017 Earnings: Zenith Bank Board Meets October 25
https://www.businesspost.ng/2017/10/10/q3-2017-earnings-zenith-bank-board-meets-october-25/

Diamond Bank Board Meets to Consider Q3 2017 Financial Statements
https://www.businesspost.ng/2017/10/10/diamond-bank-board-meets-consider-q3-2017-financial-statements/

Buhari Seeks Senate Approval for $5.5b Loan to Fund 2017 Budget
https://www.businesspost.ng/2017/10/10/buhari-seeks-senate-approval-5-5b-loan-fund-2017-budget/

Flour Mills Targets N70b from Medium Term Notes
https://www.businesspost.ng/2017/10/09/flour-mills-targets-n70b-medium-term-notes/

Stock Market Watch: Recommendation for this Week (October 9)
https://www.businesspost.ng/2017/10/09/stock-market-watch-recommendation-week-october-9/

$383m Settles as 15th OTC FX Futures Contract Matures on FMDQ
https://www.businesspost.ng/2017/10/09/383m-settles-15th-otc-fx-futures-contract-matures-fmdq/

GCR Affirms Stanbic IBTC AA-(NG) National Scale Rating
https://www.businesspost.ng/2017/10/09/gcr-affirms-stanbic-ibtc-aa-ng-national-scale-rating/

$383m Settles as 15th OTC FX Futures Contract Matures on FMDQ
https://www.businesspost.ng/2017/10/09/383m-settles-15th-otc-fx-futures-contract-matures-fmdq/

GCR Affirms Stanbic IBTC AA-(NG) National Scale Rating
https://www.businesspost.ng/2017/10/09/gcr-affirms-stanbic-ibtc-aa-ng-national-scale-rating/

NDIC Cautions Nigerians on Bitcoin Trading
https://www.businesspost.ng/2017/10/09/ndic-cautions-nigerians-bitcoin-trading/

NDIC Cautions Nigerians on Bitcoin Trading
https://www.businesspost.ng/2017/10/09/ndic-cautions-nigerians-bitcoin-trading/

Market Data Vital to Stock Market Investors—Experts
https://www.businesspost.ng/2017/10/09/market-data-vital-stock-market-investors-experts/

Shareholders Beg SEC, NSE to Soften Penalties on Quoted Firms
https://www.businesspost.ng/2017/10/09/shareholders-beg-sec-nse-soften-penalties-quoted-firms/

Naira Moderates at Forex Market Segments
https://www.businesspost.ng/2017/10/08/naira-moderates-forex-market-segments/

NIBOR Rises as CBN Sells N130.4b Treasury Bills
https://www.businesspost.ng/2017/10/08/nibor-rises-as-cbn-sells-n130-4b-treasury-bills/

FBN Holdings to Release Q3 2017 Earnings October 27
https://www.businesspost.ng/2017/10/05/fbn-holdings-release-q3-2017-earnings-october-27/

Why You Should Invest in Nigerian Stock Market Now
https://www.businesspost.ng/2017/10/05/invest-nigerian-stock-market-now/

Osinbajo Urges Investors to Embrace Nigerian Debt Capital Markets
https://www.businesspost.ng/2017/10/05/osinbajo-urges-investors-embrace-nigerian-debt-capital-markets/

DMO to Issue Between N270b & N330b Bonds in Q4
https://www.businesspost.ng/2017/10/04/dmo-issue-n270b-n330b-bonds-q4/


Stock Watch: Recommendation for this Week (October 3)
https://www.businesspost.ng/2017/10/04/stock-watch-recommendation-week-october-3/

DMO to Issue Between N270b & N330b Bonds in Q4
https://www.businesspost.ng/2017/10/04/dmo-issue-n270b-n330b-bonds-q4/

SEC, CBN Fine 5 Banks for Market Violations
https://www.businesspost.ng/2017/10/03/sec-cbn-fine-5-banks-for-market-violations/

Dangote Denies Getting 10-Year Tax Holiday from FG
https://www.businesspost.ng/2017/10/03/dangote-denies-getting-10-year-tax-holiday-fg/

By Dipo Olowookere

The management of Dangote Group has refuted reports making the rounds that its Chairman, Mr Aliko Dangote, has secured a 10-year tax holiday from the Federal Government after he agreed to rehabilitate the 35km Apapa to Oworonshoki highway end of the Lagos-Ibadan Expressway.

Speaking on Monday at the Ikoyi head office of the firm, the Group Executive Director, Strategy, Portfolio Development and Capital Projects, Dangote Industries Limited, Mr Devakumar Edwin, disclosed that the company has never benefited any tax waivers or credits in its entire history except when it is industry based and same applies to all industry players.

Mr Edwin described as “painful” reports claiming that Dangote Group has been given 10-year tax holiday by the government.

According to him, the company volunteered to repair the Apapa road at no cost to the Federal Government as part of its Corporate Social Responsibility (CSR) initiative.

He noted that the construction of the Apapa to Oworonshoki long highway would be done at 15 to 25 percent less than the lowest bid.

“It is very painful when some people accuse our company of benefitting 10 years’ tax rebate from the government. There is nothing like tax credit in all these.

“We volunteered to construct the Apapa to Oworonshoki long highway at a cost that will be about 15 to 25 percent less than the lowest bid on the road.

“We hope to get back our money after three years by removing the sum from the tax we are supposed to pay,” Mr Edwin said on Monday.

He further explained that the company proposed to the government to reduce 50 percent of the total cost of the road, from its proposed tax, on its first year after completion and 25 percent of the costs respectively for two years from its proposed tax.

“…the government came forward and said, good enough your company is repairing a road that is very important to all Nigerians…is it possible to help us do proper road construction of 35 kilometres from Apapa to Oworonshoki?

“We advised the government to go for a competitive bidding and also that we will take it up at a costs that will be lower than the lowest bid received by the government.

“Since the government may not be handy with cash, we proposed that we will recover our money over three years in instalments against our future tax.

“The reality is the government will not pay us for the construction, but we will only offset our costs against our three years tax,” he added.

It would be recalled that the federal government said it would give tax relief to private sectors that invest in road construction in the country.

Speaking at the Road Construction Summit 2017 organised by Lafarge and Business Day at the weekend in Lagos, the Minister of Power, Works and Housing, Mr Babatunde Fashola said that there are a lot of possibilities that lie ahead when private capital comes into road construction under the tax relief order as proposed to be amended and complements government spending.

According to him, the government has just concluded an agreement using the tax incentive order to hand over the Apapa area comprising Creek Road, Liverpool Road, Marine Beach to Mile 2, Oshodi, Oworonshoki to the Lagos end of the Toll Gate on the Ibadan Expressway to Dangote Group.

Also, he said the government has signed an agreement with NLNG to construct the Bodo-Bonny Bridge at the cost of N120.6 billion with NLNG and federal government sharing the cost.

“We have identified 28 toll plazas out of the old toll plazas, on roads where construction work is currently going on, at which we propose to restore toll plazas.

“We have also concluded traffic surveys on 51 major highways and now have current traffic data on these roads and we can project vehicular traffic movement for tolling and concession purposes,” Mr Fashola said.

Going by the recent second quarter GDP report, the Minister said, “With respect to construction and related activities, GDP in the sector had been negative since Q2 2015, but turned positive for the first time in Q1 2017 growing by 0.15 per cent and continued to positive growth into Q2 2017 by growing by 0.13 per cent. The reversal in construction has to do with civil works especially due to FGN capital expenditure.”

Chairman, Lafarge Africa, Mr Mobolaji Balogun noted that with the federal and respective state governments grappling with dwindling resources, it has become crucial that the ecosystem of public and private sector players brainstorm on issues of funding, partnerships, design, and quality of roads in Nigeria, as for sure government can no longer do it alone.

https://www.businesspost.ng/2017/10/03/dangote-denies-getting-10-year-tax-holiday-fg/

opomulero:
Please house is there t bills auction today as there is public holiday.? If not when will be the next auction date

CBN to Auction N134.36b Treasury Bills Thursday
https://www.businesspost.ng/2017/10/02/cbn-auction-n134-36b-treasury-bills-thursday/

CBN to Auction N134.36b Treasury Bills Thursday
https://www.businesspost.ng/2017/10/02/cbn-auction-n134-36b-treasury-bills-thursday/