₦airaland Forum

brainhgeek:
How did you manage to secure #1.2M loan as a 100level student? What security did you present? The story sounds scandalous.

Fintechs doesn't require any form of security or credibility to issue loans

sisisioge:
This cant be true.....they gave a 100 level student a 1.5m loan based on what? How big was her inflow/outflow plus spending habit to justify the loan? She got the attention she wanted.

You seem not to be living in Nigeria where a lady with zero source of income will be expensive lifestyle

Scamburster:
What is tip?

The Initiates Plc

crazygod:
Blue ridge microfinance is in charge of Easemoni and Okash. Not Opay.

Opay acquired a 100% stakes in Blue Ridge Microfinance

sekeyso:
No sir, I'm waiting for government that wasted 210 trillion naira on only God knows what to subsidize petrol.

People that make excuses for government that wastes resources on frivolities and corruption are the worst human. Government have money to build houses for judges, vp, buy yacht, airplane, govt that budget billions of naira on none existing agencies and so on but doesn't have money to subsidize energy for its citizens? Can you hear self sir?

Keep enabling their wickedness, I assure you today's victims were yesterday's survival. There's enough to go round.

I think you misunderstood my comment. The federal government is owing ₦6.6 trillion electricity subsidy and they even try denying it. News came out last week of FG planning to remove subsidy and Nigerians are celebrating and encouraging them to do so.
So, if Nigerian politicians decide to buy private jets for all there family members. Nigerian will be okay but when it time to FG to pay subsidy, you will hear "free money to the rich"

Vision101:
Did you read the content properly. The US concern is importing goods that were produced with forced labour. If Nigeria imports goods from foreign countries that were produced with forced labour. This is the target. Not using forced labour in the country.

The US concern is that we are not buying there goods hence creating demand for the dollars

sekeyso:
This evil government is tone deaf to the high inflation this fuel hikes is causing. A responsible government ought to intervene and stabilize the market for the sake of the average citizen but they don't care after all government foot their expenses. Bills are draining family incomes that people now take now just to eat

You waiting for the government that has refused to pay ₦6.6 trillion electricity subsidy debt to subsidize the petrol they remove subsidy in 2023?

ViceGovernor:
Benefactor of the rotten exploitative system will always rush to defend their daily bread 🍞, I don't hold it against you sir.

You miss the point entirely, if there were laws governing pricing of goods and services nobody will be making more than a hundred percent profit including those putting up apartments and shops for rent.

Focus on the message not the messenger.

One of the laws or policy that governs pricing is subsidy and Nigerians always support to the government to remove subsidy.

Helinuss:
Profit or ripping nigerians of their sweat

This is not right. Bring down the prices of these products

Do we have governemnt at all?

It is these elite agaisnt the masses. Government not balancing things at all cause of kick backs

Bring it down as your government is increasing taxes and removing subsidies?

ViceGovernor:
They make all these gains as a result of unfair/unethical business practices and discriminatory pricing models.

There should be a price floor (minimum amount cement can be sold) and price ceiling (maximum amount cement can be sold).

That is an area where communism and socialism beats democracy, all business are fair and regulated by the state.

You subsidy government but support ls the government that removes it calling it free money for the rich

Lanretoye:
Can you imagine in a country where there is grave housing deficit…capitalism do well for our country

Communists have a way of shifting there failures on capitalist

Dogalmighty17:
80% increase in profits! In less than a year! Tell me which other country on earth permits this kind of broad daylight robbery?
A 50kg bag of cement sells for 4500 naira in China, 5000 naira in Egypt and 7000 naira in South Africa.

There is nothing that justifies the prices these thieving local companies selling cement for in Nigeria. A serious government should fling open import licences for cement so that cheaper cement sources can be accessed.

The countries you mentioned, the government subsidizes and taxes minimally compare the Nigerian where to government is looking for new ways to increase taxes and remove subsidizes.

nickxtra:
Nigerians are really suffering in the hands of these capitalists

No, Nigerians are suffering in the hands of communists they used tribe and religion to vote into power every four years.

ViceGovernor:
You are making excuses for those people, you are probably among those benefiting from them.

Any profit that exceeds a certain threshold is illegal, in every country of the world except Nigeria.

Look at a bag of pure water for example, some people will buy 1 bag for 250 from the factory and sell that same bag for 500+ naira that is more than a hundred percent profit margin, it is criminal and that is the exact thing those companies declaring astronomical profits are doing.

It is caused by the weak labour union and the mass lawlessness bedeviling our country.

Why not go and buy a bag of water from the factory ₦250 and sell it ₦251 and call labour unions to pay rent when it is due.

NwokoloOwa:
Government should have allowed bulk cement imports specifically for the road and other mega usage to stabilize the chaotic cement market. Of all the building materials. Obasanjo did it in his time. Likewise YarAdua also did same when Dangote wanted to try all this his nonsense with him. Trust YarAdua, a no nonsense President. Those days, cement used to be the most stable and predictable in terms of costing. But just look at how the cement market is now. Its terrible.

So the importation of bulk cements are immune to draconian tax laws implemented by the same the government?

kgr8mike:
Cement inflation is out of this world :

20 bags of cement is 250,000. That's outrageous.

Please you guys should have mercy on fellow citizens.

The profits you are making is for what actually?

During Jonathan 20 bags is N20,000 @ 200/$
Which means N20, 000 = $100

So at N1500/$ , 20 bags is supposed to be around N150,000. While sale N250,000. This is wickedness.

Bags. GEJ@200/$. @1500/$. Price

20 N20,000. N150000 N250,000

80. N80000. N600,000. N1M

360. N360,000. N2.7M N4.5M
Etc

The outrageous inflation on cement is unexplainable.

If you are buying 360 bags you spend N4.5M to buy it instead of N2.7 at N1500/$ compared to Jonathan time and taking dollar inflation into consideration.

Honestly all these blood you are squeezing out of Nigerians in the name of profit will not do any one any good.

During Jonathan tenure:
Minimum was ₦18,000
Nigerian GDP nominal per capita was above $3,000
Dollar was around 180
Note: The higher minimum wages in naira, the higher prices of goods and services in naira and lesser the quantity of goods and services the minimum will afford.
This is the basic monetary economics Nigerians have refused to learn and understand and will keep suffering for it.

uvie66:
Small small they will leave other Banks behind and almost become monopoly, it you can't compete you die simple. The other day I went to UBA just to transfer 300k, stayed on the queue for almost one hour and eventually was told that their network is down, I just dey laugh. In my mind I'm thinking with modern high speed broadband you people are still bringing this nonsense of network issue. I just dey laugh, Opay go soon swallow una customer na that time una eyes go open but it will be too late.

You went to a bank to transfer 300k in 2026?
Is your smartphone fancy?

Watianoengineer:
He should call Elon Musk to dash him the $1BN out his new $1TRN fortune.

Elon Musk will dash him $1 billion dollars out of thin air?

Bankowner:
I know that. My grouse is that the private placement depletes the volume of shares that will be available for the IPO. The PP is just an avenue to take care of the well to do. It's the crumbs that'll come to the general public as IPO. They know already that the IPO will be over subscribed, so why not take care of the rich first?

Private placement doesn't depletes shares for IPO because IPO itself is a company going public by issuing new shares to stock market investors to raise capital.

kgr8mike:
What has the average everyday Nigerian gained that Dangote is from Nigeria except exploitation and squeezing of life out of him.

If Dangote builds refinery, fuel will be cheaper they said and we supported it only for us to understand globalized pricing. Dangote cement is sold more than it is done in all other African countries. Everything Dangote has no human or Nigerian face.

What actually is our gain from Dangote?

When the next election comes, use tribe and religion to vote in bad government and blame Dangote later!

NwokoloOwa:
After he will tell us that the tax in Nigeria is killing him. When he is really the one killing us.

Just look at how our blood is making him stupendously rich

After using tribe and religion to vote in bad government, blame Dangote for your suffering!

Kingpele:
This is why he's increasing fuel like we are under US attack ...he want to reach like 500billion before Nigerians will benefit from having refinery in Nigeria ..very greedy man

So you expect petrol to be stagnant when oil prices rises?

Ishilove:
Legal migration is a completely different ball game. You psychologically prepare yourself for a new life, but not in this case. This is more like a deportation to a country that is economically inferior to yours.

So it is better to be living illegally in a country where it's citizens are ready to do the unthinkable than to migrate to any of her parents country legally.
Her father is a Nigerian citizen and but Nigerian laws, she is legally Nigerian citizen.

Basicend:
I share same sentiment.

Even the richest men in UK (Hinduja Group) is about 38 billion pounds. Next to him, Michael Platt is at 21 billion. Jack ma, founder of Alibaba is about $46 billion and Temu owner (Collin Huang) is just $41 billion too.

Those are one of the top 6 biggest economies in the world.

But here in Nigeria, with a GDP that is not even up to $350 billion / year, one single man will be controlling about $40 billion. And you think something is not significantly wrong with our system?

If people like Dangote becomes our president, is he not going to be worse than Abacha and the rest?

What sense are you trying to make?

Kingpele:
The prize is still high compel to the prize of fuel in Iran where the war is taking place

When the Tinubu government removed petrol subsidy and call it "free money to the rich", you celebrated.

fabolouz1:
dangote is a very unpatriotic fellow, when the prices of crude at the international market plunged, all he did was reduced within 10-20 naira but he has now increased it to 140 at one blow! look at him, with all his money, he's looking older than his age.

Unpatriotic fellow?
Do oil refineries operate with patriotism or science and economics?

Ishilove:
It is not as easy as people think. She was born there. She was raised there. All her ties are there. She just can't uproot herself and start living in another country just like that. Imagine living all your life in Nigeria, only to discover your parents are illegals and you must go and start living in another country where you have zero ties to. The only ties you have are your parents, who haven't been to their birth country in donkey years.

Bros e no easy o

Is this an excuse for her to risk her life in SA?
The Nigerians who migrated to the Western world for greener pastures, what root do they have there?

givedemwotowoto:
Are you the comment moderation police?

Take the part you like and move on.

There law on Nairaland that says you comment on a post. So it would be better to ignore things you understand rather than introducing irrelevant political nonsense.

Zionmdde:
Same quality.

Source?

givedemwotowoto:
Though South Africa is still far ahead in terms Market Capitalization, Nigeria's market capitalization has consistently gone up since 1999.

Since this growth doesn't level up with the reality of Nigerians who have become more impoverished, this tells you that NIgeria is not broke, never has been broke, the money is simply siphoned by a few people who put it on the stock market

This is why Tinubu has to go for a leader like Peter Obi who can fight corruption and invest the commonwealth in the places that matter

Your comment was making sense until you decided to introduce the politics of Tinubu and Peter Obi turning it into a political nonsense.

Zionmdde:
If the cost of your product is 100naira
You sell to others at 130naira
And sell to me at 110naira

Who is paying for the subsidy?

What is the quality of the product been sold you and others?

professore:
Thank you.

FBNQuest is owned by First Bank right?

Who owns this Unit Capital Asset Management?

FBNQuest is was owned by FirstHoldco before it was sold to EverQuest Acquisition LLP in 2025