richforever123:
Please I have a very important question, Why is it that when oil is at $30 there will be pandemonium everywhere in Nigeria, Government will devalue the Naira and the cost of food items will go high?

But now that oil is at $90 an all-time high things will not stabilize, there is even a risk of fuel scarcity now, which further increase the cost of survival in Nigeria?

Isn't there a situation we can take advantage of?

Due to our National dependence on Oil for Govt Revenue and the dependence on Petrol for transport and power for individuals and businesses ,we are stuck between a rock and a Hard place.

If Oil falls to $30 dollars per barrel...govt at all levels go broke,unable to pay salaries or fund expenditure...also at that level, dollar supply dries up , devaluation and inflation become a problem

At High oil prices...Subsidy spending goes high, deductions for subsidy claim a large chunk of revenue,creating difficulty in funding payments and importing fuel,hence scarcity,

now if subsidy is removed...Govt gains and the masses lose in the short term ..with inflation reducing purchasing power...

So at one extreme Both Government and the People lose,while at the other end Government gains,the people lose.

The only sweet spot is between 58-65 dollars where subsidy payment is manageable and government revenue is not too low

•Lagos, Rivers, Oyo record highest in generation

•Kano displaces Rivers, Oyo in collections


•Zamfara generates N75 m, gets N4.5 b monthly

By Emma Ujah, Abuja Bureau Chief



As the Value Added (VAT) war rages, Saturday Vanguard has obtained details of collections made by each state and what it was allocated by the Federation Allocation Committee (FAAC), between January and August of this year, which indicates that the Federal Inland Revenue Service (FIRS) Offices in Lagos, Rivers and Oyo states recorded the highest collections.

Lagos generated N429. 203 billion; Rivers, N90. 293 billion, while Oyo came third with N64. 646 billion.



However, in the allocation of VAT revenue, Kano came second, displacing Rivers and Oyo from the top places on the table, after Lagos.

Lagos received the sum of N139. 587 billion; Kano which generated N24 . 492 billion received the second highest allocation of N 47. 082 billion, while Rivers was in the third position as it got N 46. 270 billion.



Zamfara stood out as a peculiar state with the least generation of VAT revenue. It was the only state that recorded less than a billion in the eight-month period of review.

The state generated only N598. 133 million, an average of about N75 million per month.



However, it received the sum of N35. 716 billion (about N4.5 billion monthly), placing it at the forth position on the allocation table.

Kaduna which recorded a VAT revenue of N18. 262 billion, came after Zamfara with an allocation of N32. 726 billion, while Kastina which generated N3. 738 billion in the period under review got N31. 539 billion.

READ ALSO: VAT controversy: OPS expresses concerns, seeks clarification on remittance
An analysis based on the six geo-political zones showed that South West had the highest allocation of N256. 737 billion, particularly because of the huge allocation to Lagos state.

North West had the second highest allocation of N219. 813 billion.

The oil producing region of South-South N 162. 598 billion.

North East and North Central received N129. 801 billion and N129. 154 billion respectively; while the South East kept the rear with N 109.629 billion allocation.

A table showing what each state generated between January –August 2021 and the allocation to each of them

STATE VAT GENERATED
ALLOCATION

1.) Abia 2.290b 20.020b

2.} Adamawa 3.689b 22.260b

3.) Akwa Ibom 8.390 27.749b

4.)Anambra 5.938b 25.001b

5.) Bauchi 5.309b 25.613b

6.) Bayelsa 12.536b 17.659b

7.)Benue 1.268b 24.527b

8.)Borno 3.442b 25.896b

9.)Cross River 2.347b 20.478b

10.)Delta 13.964b 27.854b

11.)Ebonyi 7.894b 18.768b

12.)Edo 8.284b 22.588b

13.)Ekiti 6.635b 19.756b

14.) Enugu 5.485b 20.729b

15.)Gombe. 4.028b 17.650b

16.)Imo 1.941b 25.111b

17.)Jigawa 3.375b 26.369b

18.)Kaduna 18.262b 32.726b

19.)Kano 24.492b 47.082b

20.)Kastina 3.738b 31.539b

21.)Kebbi 1.284b 22.162b

22.)Kogi 3.286b 22.282b

23.)Kwara 3.471b 18.998b

24.)Lagos 429.203 b 139.587b

25.)Nassarawa 2.495b 16.872b

26.)Niger 3.723b 25.042b

27.)Ogun 11.823b 25.141b

28.)Ondo 4.554b 22.107b

29.)Osun 1.995b 24.766b

30.)Oyo 64.646b 45.136b

31.)Plateau 5.208b 21.433b

32.)Rivers 90.293b 46.270b

33.) Sokoto 4.978b 24.219b

34.)Taraba 1.756b 18.469b

35.)Yobe 9.445b 20.525b

36.) Zamfara 598.133m 35.716bn

37.) FCT 235.794bn NOT ELIGIBLE


https://www.vanguardngr.com/2021/09/vat-what-states-generated-received-in-past-8-months/

Biafran4life:
Did you sell below you cost price for you to now buy below your initial quantity.If so you need to improve your communication gap btw you and your supplies

If you bought a machine at 50k per piece and you had 10 ,and sell at 60k then due to to the naira fall ,cost of said machines is now 70k to sell at 80k(with much negotiation with Customers) with your capital stock you can only buy 7

Before ,on a turnover of 500k,you had 100k profit,now you have only 70,so business income has dropped 30%....just buying and selling in the naira...while other business costs have moved higher

Biafran4life:
Tell me how a biz who buys in naira and sell his goods in naira have lost 50 percent

The question should also include what Goods is the business person buying and selling phone accessories in naira,the capital that would have been enough to buy 3 goods would now only buy 2,same goes for clothes, spare parts, FMCG goods etc

Babaolofin, I salute your courage in trying to make some people see the light and reason clearly,But it would be very difficult for you to make someone understand something if his livelihood depends on him not understanding.

You have given facts and figures,but have received hot air in response.The recurrent expenses for the Railtrack is unknown and the rate of return on the investment,

Maybe after 2 years ,you would hear that we have paid off 20% percent of the loan and mumus who don't understand opportunity cost of capital would celebrate that we diverted funds meant for more viable projects to service an Elephant project


Once again,I salute your patience in responding.

Grandmeister:

Who said chess requires a high IQ?? You just need average intelligence to understand the rules and play the game. Are you saying every chess grandmaster is a genius? Totally false! And if Nigerians had the same environment to nurture chess talents we will have a GM by now. It’s all about your environment. We’ve had our International masters beat grandmasters in tournaments abroad.

While appreciating your expose on chess,I doubt any Nigerian IM has defeated a GM abroad.Your comment on having same environment is not entirely accurate,we have a large Nigerian diaspora in many countries with enabling environment but no GMs

If we were so smart we would have created the environment,I would like to know if you're rated.

TransAtlanticEx:
A daily pay of a site labourer in central Africa is 2,500xaf.
A bag of Cement there cost 5,800xaf due to high 40% tax and 19,25% TVA.
Daily pay of a Nigerian labourer in Nigeria Is N2,500
A bag of cement in Nigeria costs N2,700 due to lower taxes and almost nonexistent VAT.
So Who has higher chances of buying cement easily or would be able to afford a bag of cement first?
Also Nigeria has a larger number of people(population) with better purchasing power,so tell me why dangote won't sell more in Nigeria and make the bulk of his money from Nigeria?.

This is not accurate, dangcem operates in South Africa and Tanzania and the profit margins are lower,so the VAT and 40% tax issue cannot be said to be the focal point and central African Republic has 0% vat on cement.

The Nigerian cement market is an oligopoly with huge profits margins(their luck) and the only country in the world that has interests of 3 cement billionaires (2 alhajis and Thomas Schmidheiny-lafargeholcim).China with 2 billion tons per annum has no cement billionaire.

Nice job

Cyberknight:


I fully agree that the best form of government is an enlightened benevolent dictatorship, Singapore-style.
But the odds of that successfully happening in most countries are very low. Chavez in Venezuela had the right mindset, but was economically illiterate, Castro in Cuba had the power and the will to get things done, but only achieved success in the social sphere and none in the economic, and so on.

Quite agree, on China, Singapore, and other Asian tigers, the evidence points to higher levels of intelligence and organization which have not been replicated in Africa. We are lower iq scores and expecting same results here is wishful.

So we have a system in which we play the Russian roulette leadership selection (democracy), sometimes we get a bullet (buhari) other times we get lucky

talk2tonie:
NTB Auction Result for today 28th October 2020

91 days - 0.3410
182 days - 0.5000
364 days - 0.9800

Happy investing

Seems we are for years of low rates and probably negative tbills rates, seems the Cbn is trying to encourage companies and people to spend.

A look at recent company results show that many companies from mtn, flour mills show that cash reserves increased at a higher than expected rate, if everyone is afraid of spending or investing, then we are in troubled waters

Where them JIJOist, una time done come ���,

Bull markets are born on pessimism, grow on scepticism, mature on optimism and die of euphoria.”
Sir templeton

On agriculture, we seem to be missing something, we have big organizations such as flourmills, dansugar invest in sugar cultivation, yet our sugar production has not increased by much.

Dangote tomatoes also has a similar story, even most of our agritech/crowdfunding platforms have not lead to any massive increases in crop yields with most pivoting to animal production

A learning curve based on cooperative farming is the best path to follow,

On Private equity and health plus, in the sister agri/crowdfunding thread, we see people dragging non performing coys and we support, should healthplus be allowed to collect $10 million and renege on agreed terms.

How come there are no complaints about private equity in real estate, finance, bike hailing etc,

Lazyyouth4u:

Government says it will pay for the conversions sha

Ubcandid is correct you cannot use Lng in cars, you cannot use Lng for anything without regasification. Would you put a regasifier then a lng fuel tank with cooling and boil off unit in a car...

You wan deploy bombs on our roads, Cng and lpg are the only possibilities.

kikero:


Because it would in essence handicap them seriously.

They would be forced to surrender most of their earnings to pay off their debts

In other words, their debt repayment just got raised so to speak.

Not their earnings, remittance for gencos, reading through the pwc report you refered to discos bill collection rate of 65% percent but rmit only 28% due to Nbet and gencos

Going by the myto formula only about 40-45 percent of tariff goes to distribution, the rest is for gencos, tcn, nbet

Thus by gouging on money due to others, they create imbalance in the market. Do you know why ikeja disco and egbin power are ranked highest in disco and Genco.

Apologies for the errors in the previous posts

oz4real83:
All these na drama. Nobody that doesn't like a business where you have zero expenses but make a profit of over 100% every month. These power companies don t spend anything on improving power. In my area, we own our transformer, we bought our poles and wires, we paid the officials that connected us, we were responsible for all the expenses. The bedc only bring bills at the end of the month, that is the part they have always played, they don't even provide meters Who won't like such a business? It is an empty threat.

Kikero ,


I believe this topic should interest you,your post on the Naija electricity matter lack a certain amount of depth

Discos are worried over the recent plans to ring fence their accounts to enable a better remittance to Nbet and gencos and now are pulling this trick,

Enyinne:
Thanks for responding,I'm just lost in this ,so i can pay myself for the domain name .

Get a domain name... Go daddy, name cheap etc... Cost like $10- 15 max... You can pay by yourself

Setting up a self administered custom email address, would need some kinda hosting.. Long stuff

So I would advise using business email providers, zoho, rackspace, gsuite from google
Zoho has a free tier while others do not, you might even register the domain name with them if you wish

Omooba77:


What is the source of feeding this new plant AKK Sir? I mean where does it take Natural gas from?

Baba... No need to point this out... Maybe we would take more loans to build processing plants

Demdem:
i believe in a future Nigeria where all households will make use of gas instead of wood and kerosene...

Is this a joke, you want piped gas to households in a country, where we have seen gas venting in urban areas and associated explosions.

I am glad that all on this post are long term nlers, GOD keeping us and Nairaland alive we would come back to this thread in 10 years to count our teeth with our tongue.

Increasing poverty is making Nigerians more corrupt, increasing corruption is making Nigerians poorer.

Classical chicken and egg dilemma

But it boils down to absence of safety nets, and uncertainty, if a junior worker steals because if low pay or job insecurity, when she becomes a manager such theft is now a habit and the vicious cycle begins again.

Demdem, do not let the PPP deceive you it's a loan, just like the Lagos-kano, mambila power funded also by the Chinese on the same 85:15 ratio,

On insecure routes has anyone picked up a map to see what route this pipeline would need to enter Europe, the easiet being Algeria, but then you ask if Algeria has massive gas reserves and has not built it's own pipeline to Europe why should she allow a foreign pipeline.

emmanuelewumi:



You pay about N100 every day to sleep under the bridge, nothing is free in Lagos ooo

This one has offed me

The lagos issue is about population density, a city with such density should be growing upwards but the cost and challenges of real estate investment make that near impossible.

donguutti:
Angle is 28. 6°

Mrshape:

Not correct sir
or rather prove your answer with your workings

The base of the triangle with theta is double of the right angle in square s, thus using opp/adj of those right angles gives 1/4 (0.25),

Calculating the Tan inverse, gives us 14.03,theta is 2 times this (forgotten the geometry rule).

So theta = 28.6

Angle is 28. 6°

accusing nl managements or mods of releasing email acc is unfair.

Most of these emails are gotten from the send mail function,thus chino uses 1 of his th6usand accounts to send an email,the reciever replies ,voila ur email is now in the hands of the insane

The email is used in facebook search,(most of us use the same email for most of our social media paroles7),
ur name appears and the lunatic downloads ur pictures

What happened to live to fight another day,the hard lesson that one igbo life is not more worthy than another.

personally i 5ee this as an inversion of the ojukwu welcome back play by shagari and the npn boiz,then it was to get our votes,now the opposite

First the assumption of a pdp win is premature and putting all our eggs in that basket has brought us into the current pathetic position.

Construction of roads are more of political negotiations than of hope,after vp osinbajo was picked,the sw still negotiated for the lagos-ib-ilorin exp,to make sure it was nt left to change fashola was made minister and we all know how his zone has collected 40 % of the roads budget.

The more important thing is how much are we demanding for our support,ohaneze elders and youth are planning a 2 million man march in exchange for what.also how does the current massive support reflect on the agitations for biafra.

If atiku/obi lose,would cries of biafra nt be seen as sour grapes,if they win the antecedents of obi and ezu river are nothing to smile about.

The current reactions to the possibility of atiku picking a yoruba running mate are at best reactive and shortsighted.

With voter apathy,we achieve less than we could,as we hope to punish pdp and lessen buhari antagonism ,things extraneous to stratejic igbo interes ts.

A few pages ago ,during the exposition on azikiwe 1948 speech,there was a suggestion to replicate his moves on electing representatives to push igb0 interests.2019 and atiku possible yoruba running mate provide the right time and opportunity.

going to the ballots and casting a vote for apga would achieve all that voter apathy can and more,it would send the same message,while opening a vista for authentic pro igbo interest candidates and positioning ndiigbo as a force to be reckoned with in 2023,thereby increasing our negotiating power.

A more active strategy than counting our thumbs at home.

pazienza:


I went through your post history. The last time you commented before today was on Jan 19. The year is almost running out, and today, you resurrected this moniker to support an Igbophobic post. You need to try harder. At least if you are going to play this game, try to be a bit smoother.

You deceive no one.

Pablo and his ilks, we know very well. His advise is not needed, we never asked for them.

Can you tell me what last post date has to do with contributing to a pan igbo thread,if i had responded to a post in a way you liked wld you remember post history.

The major problem of ipob-massob etc is living in an e6ho chamber which unfortunately was also ojukwu's problem...carry on bro soumding ur song.best of luck