₦airaland Forum

The lack of liquidity in the financial system then further limits what banks can lend to builders.
The massive credit expansion is exactly what you don't want if you want to ease the housing market.

The Economist got almost everything in this story wrong.

I have personal experience of being to Nigeria a few times on infrastructure subcontract projects.

The predominant portion of those abandoned construction sites are made by plain fraudsters, take money, make a semblance of construction going, then vanish with money.

Urban apartment housing in most of Africa is seen as something for a more affluent, and well off, much alike how it is in Asia, and not the other way around as it is in the West.

There are quite proficient builders in economically relatively well doing African countries. Take a look on http://www.mhfproperties.com/

Where fraud proliferates are 2nd tier African economies, and housing for people lower on the class ladder (ones who are just entering the middle class, and still want save hard on housing.)

The shortages of cement, steel, and construction supplies bear much more on the availability of housing than any of that "liquidity" thing.

Africa needs more factories, more mills, more kilns, more technical know how. At the moment even such basic things like petrol, and cement are largely import only even in most developed African economies.

This leads to those countries squandering their short FX resources gained largely from agricultural exports, which could've been spent in import of something more useful, and productive, like plant machinery.

Mhizzard:
No other problem than money.

apart from money, sure no other cause?

I have heard of people dying and their family not even aware that they had an uncompleted building somewhere

SIXTEENTH:
Building materials prices has sky rocketed, where common man will see money for the completion of his structure.

everyone wants to build his own. Nothing like merging funds to build a building of flats and each person own a flat in it.

Some may say skyscrappers is not the problem of Nigeria, but this is why it is important for Nigeria to try and build the tallest Skyscrapper in Africa, at least.

1. It is a sense of national progress;
2. It is a sense of improvement, innovation, science and technology;
3. Even if we have land today, nations should plan for population increases and start building up;
4. It is a test of the prowess of a country’s engineers and architects;
5. It is a sign of modernity;
6. It is a sign of economic growth, and in fact mental development (the non-ambition of black Africa is stark in this regard. What is the essence of our vaunted education?);
7. It is a sign of ability to compete with other nations and hold our own;
8. Practice makes perfect. The more you build, the better you get. Not building or improving at all means you are not practicing as a people;
9. It is a sign of freedom, especially for upcoming generation who must do better than their predecessors. Many people who could achieve in black Africa, have refused to try because they don’t want to rock the boat. They do not want governments to come after them ,either politically or for excessive taxes. This is a symptom of fear.
10. It is a symbol of national, continental or even racial pride and gives some bragging rights in the comity of nations.

Why Are There So Many Unfinished Buildings in Nigeria?

Why Are There So Many Unfinished Buildings in Nigeria?

Tallest Building in Egypt was completed in 2023
Tallest Building in Morocco was completed in 2023
Tallest Building in Ethiopia was completed in 2021
Tallest Building in Algeria was completed in 2019
Tallest Building in South Africa was completed in 2019
Tallest Building in Kenya was completed in 2017
Tallest Building in Nigeria was completed in 1979

After 44 years, NECOM House (NITEL Building) in Lagos (built in 1979), which is one of the only 4 Skyscrappers in Nigeria, still remain the tallest building in the entire Nigeria. What does it prove?

https://en.wikipedia.org/wiki/List_of_tallest_buildings_in_Africa

According to global skyscrappers standards, there are only 4 Skyscrappers in the entire Nigeria.

1. NECOM House in Lagos
2. Champagne Pearl Tower in Lagos
3. Union Bank Building in Lagos
4. World Trade Centre Abuja, Tower 2 in Abuja.

All others are just High-rise buildings.

UCAP Insider Tradings.
Vote of confidence in the company?

https://doclib.ngxgroup.com/Financial_NewsDocs/176_NOTICE_OF_INSIDER_DEALING-PURCHASE-SUNNY_ANENE_CHUKWUMA-01.12.2023.pdf

Please, has anyone be able to download the 2023-11 model of the IMM 1294 form? I cannot find it online.

sboga:
Mumu Dey come combine a whole oando wid dem omatek tantaliza wey Dey sell chicken rice, ftn na dead coco company, secure shit, triple g even unity bank sef

You head no right

Ur papa no do right in fact dem neva born u well.

Today I said I will not be abusing or losing cool but dis mumu sha see wetin hin write

A whole oando on dat list of graveyard companies.

Come call himself essential one

Omo na essential mumu u B oo

This guy is funny. Lol

Locotrader:
If those buying GT bank at #38 stand to make something in future, those buying Japaul at 1.60 will also make profit too.

wise response

Locotrader:
This must be ignorance.
Do you know what it means to invest 15m and make 45m in a couple of weeks?
That's must be the secret behind such stocks

The question is. when you sold off, those who used 15m to buy from your 45m naira shares, will they be able to later make 45m from same stock, or will they get their fingers burnt by buying the shells from you?

Several dead companies really came back to life this year 2023. Chams, CWG, Deap, FTN Cocoa, Golden Guinea, IEI, Japaul, John Holt, Secure Electronic, Oando, Omatek, Tantalizers, Thomas Wyatt, The Initiated, Tripple Gee, and Unity Bank.

*10 BEST PERFORMING COMPANIES IN 2023*


1. Chams Plc = +855%
2. MRS Oil Nigeria = +680%
3. Transnational Hotels Plc = +610%
4. Computer Warehouse Group = +583%
5. FTN Cocoa Processors = +541%
6. Transnational Corporation of Nigeria Plc = +496%
7. Japaul Gold and Ventures Plc = +482%
8. National Salt Company = +414%
9. Skyway Aviation Handling Company Plc = +407%
10. Northern Nigeria Flour Mills Plc = +389%

*BEST PERFORMING COMPANIES IN 2023*

Stocks that have gained above 100% in 2023

Associated Bus Company = +236%
Access Bank Plc = +112%
Berger Paints = +117%
BUA Foods Plc = +206%
Chams Plc = +855%
Conoil Plc = +226%
Cornerstone Insurance Company = +130%
Computer Warehouse Group = +583%
Dangote Sugar Refinery = +273%
Deap Capital Management & Trust = +250%
Eterna Plc = +103%
FBN Holdings Plc = +105%
Fidelity Bank Plc = +107%
FTN Cocoa Processors = +541%
Geregu Power Plc = +168%
Glaxo Smithkline Consumer = +162%
Golden Guinea Breweries = +289%
Ikeja Hotel Plc = +300%
International Energy Insurance = +266%
Japaul Gold and Ventures Plc = +482%
John Holt Plc = +153%
Lasaco Assurance = +118%
Linkage Assurance = +113%
AXA Mansard Insurance plc = +130%
Mutual Benefits Assurance = +100%
MeCure Industries = +242%
MRS Oil Nigeria = +680%
Nigerian Aviation Handling Co = +273%
National Salt Company = +414%
Northern Nigeria Flour Mills Plc = +389%
Secure Electronic Technology = +200%
Oando Plc (formerly Unipetrol Nigeria Plc) = +193%
Omatek Ventures = +305%
PZ Cussons Nigeria = +103%
RT Briscoe = +138%
Skyway Aviation Handling Company Plc = +407%
Sterling Bank = +165%
Sunu Assurances Nigeria Plc = +369%
Tantalizers Plc = +190%
Thomas Wyatt Nigeria = +114%
The Initiates Plc = +127%
Transnational Hotels Plc = +610%
Transnational Corporation of Nigeria Plc = +496%
Tripple Gee & Co. Plc = +201%
United Bank for Africa (UBA) PLC = +182%
Unity Bank = +205%

Vinnie2000:
Lolss,

see some Morons up there mentioning Peter Obi, as if the Fellow is Obi's son or Relative.😄😄

PETER OBI matter will kill Dem Las Las. 😏🙂

Obi goes to School.

nairalanda1:
Like how do you know? Do you have access to the guy's mind?

Lol. Has Obi condemned it?

What na later happened?

Hmmm, what later happened?

And the priest was a strong supporter of Peter Obi.

I received a pay-off from Union Bank yesterday afternoon. I nearly shed tears of sadness. I obtained a loan of five hundred thousand naira in 2005, as a civil servant, and invested same on Union Bank shares, with no appreciable dividends declared, since then.
I was paid fifty thousand naira yesterday, for five hundred-thousand-naira investment in 2005. This is sad, and unfortunate. A discouragement on investing in shares, which I believe now should be for those who wish to trade in shares, and not for civil servants, who are thinking of life, after retirement.
Most of our investment on shares, between 2003 and 2008, were wasted by some Directors, of the quoted companies.

Meanwhile, there are renewed interests in NB and Ecobank.

Won't be surprised to see a Bull Kiss on them soon...