₦airaland Forum

1. On Ellah Lakes - the directors loan of over 6 billion is a fraudulent scheme that will negatively impact shareholders as it will lead to increased outstanding shares which will be dumped on unsuspecting stock buyers. If you are a moralist, you'll question this. If you have sold your conscience for money then it doesn't really matter.

2. On minimising tax liability - learn to buy and sell at the right time to minimise your tax liability. If your stock appreciates, sell it and move the funds to a stock that doesn't depreciate or move much. To be safe, buy REITS with the proceeds and sell for cash withdrawal from your REIT or less volatile stock. By the time you do the calculation of price at which you bought the less volatile stock and price you're selling less expenses, it's the government that will owe you or your tax will be small or you'll not pay tax at all if your gain from selling through the less volatile stock is within 10 million. No need to adopt western style of using loans cos Nigeria interest rate is over 30% while theirs is less than 10%.

3. On Access - the intrinsic value of the stock is ₦20. If you are a bargain hunter then it's better to wait for price close to this intrinsic value. Remember that bank stocks are like currency, they depreciate over time due to increase in os, so don't be afraid to buy cheap.

yMcy56:
On Ellahlakes still, I'm currently doing some background checks on the purported strategic asset to be acquired, hopefully the proposal gets the required funding.
It will boost Ellah's revenue in the short, to medium, to long term.

At least, Meristem now established that the company is working as against what some of us were posting ignorantly here.

Long termers will benefit if all things works fine.

Remember it's just my own amateur perspective and opinion as usual. 🙂

* When UNILEVER for instance was sighted and posted here, it was selling at N11/12, it even dropped to circa N10 before it inched up small.....the company was at loss, but today, same UNILEVER is selling at circa N70...
Everything is not about immediate sometimes...

Unilever has outstanding shares of around 5 billion. Ellah lakes is planning to raise theirs to 16 billion.

Companies that love to increase outstanding shares are often crooked with zero respect for shareholders. Those running the companies just want to collect fat salaries and bonuses while leaving investors and shareholders out in the sun to dry

mikeapollo:
Who is going to declare what? If I pay my rent in Arepo (Ogun state) and work in Lagos, how would they make the retiree landlord to declare his income and to whom?
Some people work in Oyo state and live in Lagos and vice versa etc.
What about where the landlord is based abroad etc.

Go back and read the tax law. Before you claim any deductible expense, you must show proof that you incurred that expense.

If you claim you paid 2.5 million rent to a house owned by a Nigerian or to a landlord in Nigeria or outside Nigeria, you'll be entitled to the 500k tax allowance but the landlord too must declare the 2.5 million as rental income and pay tax on it...else you or the landlord will have committed tax fraud, for which either of you can go to jail. Again, go and read the law before you argue.

There's a reason they're forcing everyone to have nin, bvn and link phone number and account number to nin. As long as you are in Nigeria, you can't hide. They'll simply freeze your account if you don't respond to text messages and show up to defend your claims.

Even those in stock market, remember your CSCS is linked to your nin which is linked to your bvn which contains all your account number.

There's no hiding place if they get intelligent people to implement it like IRS officials do in USA.

Your strategy now should be how to minimise or avoid the taxes. Trying to evade is fruitless cos na one click them go take frustrate anyone's life.

Hopefully they implement it to the letter so that everyone paying tax will start demanding good governance

mikeapollo:
Would this not cause a problem? How would govt/employer determine that the annual rent amount?
Because employees may claim that their annual rent is N2.5m, and could bring fictitious rent agreements/contracts as evidence.

If you claim to have paid 2.5m as rent, the person who received it will have to declare it as income and pay tax on it, so it's pointless trying to forge rent figures. But then, anything can happen in Nigeria, especially if they have used nepotism, connection and tribalism to recruit empty heads to implement the tax law.

Streetinvestor2:
So as a business man if I earn 2 M a month with a wife and children. Then government will collect #150 k for what.
I provide my own water.I provide power most times via gen.I go to private hospital and provide my own electricity. I take care of my mum and help to my community and church.
Let me see how they will collect it.Is not signing document na collection be the problem. Is not as if the government gave me cheap loans to do the business.
Oga na civil servants and cooperate companies go pay.They go fight time with business men.You see government announce many things and when u apply as businessman. You will hear is mostly for civil servants. The businessman benefits absolutely nothing from government

If you are a businessman and your annual turnover is under 100 million then you are exempt from tax and you can minimise your tax burden by pushing most of your expenses into the business and paying yourself very little to stay within tolerable tax limits.

lionshare:
I prefer when people have proper and practical alternative policy solutions, ’cause mere criticism is too cheap. BTW, there’s a rent relief of ₦500K for everyone. That, plus ₦800K, equals ₦1.3M—meaning if your total income is less than ₦1.3M per annum, you’re to pay zero tax.

The rent relief is 20% of your annual rent capped at 500k.

Your annual rent will have to be ₦2,500,000 before you can enjoy the full 500k rent relief.

You all that support bulaba lack understanding or deliberately try to misinform people till it's too late for them to complain about a bad policy.

That's how you all praised him for scrapping unnecessary import fees and replacing all with just one flat 4% FOB import fee that has turned out to be even 300% higher than all the small small fees previously collected from importers.

Toluway:
I agree with you absolutely.
This scenario has always constituted my personal worries.
I left the federal public service at the highest level of it's hierarchy, so I know what I'm talking about.
I have observed that generally, only a quarter of the members of staff do the work of a government department. This are the productive ones.
Most of the others are the ones going around gossipping, licking the boots of directors and very senior officers. And they are even better preferred by directors who love flattery and boot licking.
Before promotion exams, you see them going all over the place. They are the first to pass promotion exams.
It's so painful that the same crop of unproductive elements rise to become directors.
You will see ladies get to the office, open their laptops or handsets, and launch to the social media... Facebook, Instagram etc.
And when you give them something to do, after a few minutes, they would start taking permissions to go home and take care of their babies, or going to take their children from school.
The system is so annoying and you can do very little about it. And they always steal whatever comes their ways. Those in higher positions are always likely cheat to cart away what belongs to the junior ones.
And when it's come to going out for field assignments, which would involve money, you would see everybody prowling around the place.
And this same group, who would always escape writing field reports would always find themselves in the list.
To be frank, we don't need more than a quarter of the so called civil servants, who should be closely supervised.

I always stood up against the system. They tried to destroy me. I became a director by grace of God and they made me to Head servicom because they knew I would not compromise my principle and I would not be bringing money to the CEO.

For the public service to be productive, it should adopt the culture of the private sector.
Promotion should be based on productivity and the system of seniority should be abrogated.
So many times, I worked under morons and the only thing they know how to do is defend themselves whenever there are issues. Go to their tribalised directors and speaking hoaouosua.
Honestly, the system is annoying. Even though I was a part of it. They said I had no friends. How could they be my friends?
The only thing they scout for is money. Not interested in service at all!

God bless you for making the little impact you could. If possible I'd like to interview you on Zoom or anonymously. NIGERIANS would benefit from your insights.

mails4funshi:
If the 0.85% gulp that much (Recurrent expenditure), what then is left for capital expenditure and other policy implementation for which the 99.15% should be impacted directly or indirectly.

I am just trying to be objective.

It is not much compared to what is being lost by 99.15% of the people due to poor renumeration of 70% of the workforce who keep the nation running.

Imagine the amount lost from inflated bills and contracts which a poorly paid administrative staff should have spotted and called out because they know the best method to find the true cost of things but won't do so cos his/her highly paid oga will sack him/her. Instead he/she keeps quiet and gets a share of the kickback when the contractor remits to the oga.

Imagine how much Nigerians loss daily to the illegal tax collected by poorly paid police and soldiers safeguarding our highways. What happens to paying them well and giving them camera mounted vests which they must put on when interacting with any member of the public on the job?

Imagine how much other workers in the private sector loss daily to their greedy companies and bosses because the FG has signalled to everyone that majority of Nigerians can be paid like slaves - just enough to eat two meals a day and get to work.

Two meals a day will cost 2k on average. 30 days is 60k. Good luck using the remaining 10k to transport, pay your rent, buy clothes, save and invest in your education or other ventures.

That is the reality faced by 70-80% of Nigerian workers, and it's all as a result of the posture of the FG on minimum wage.

GeneralDae:
More taxes? How?

The Nigeria Tax Act 2024 has been signed into law and it's set to take effect from 2026.

The tax act effectively increases the minimum tax rate for everyone and also increases capital gains tax from 10% to 30%.

The packagers of bulaba will make it seem like balablu has done Nigerians a lot of favour by making certain provisions for low income earners but they'll not tell you that the inflation and increase in price of every good and service in Nigeria has rendered those provisions ineffective against protecting anyone.

The first thing they're already planning to do with the increase in revenue from increased taxes and widened tax net is to increase the salaries and allowances of elected politicians - not increase minimum wage, fix electricity, insecurity and food shortage crisis.

Streetinvestor2:
.I will never support our sacrifice should be for 1% of the population. How the government can take care of them should be worked out from what they generate. I am on my own hustling and will protest to that idea.
Our sacrifice should be put in places every one will have equal opportunity to benefit. I will not sacrifice for that 1 percent..
I have said it severally the nigeria civil servants are the most lazy and unproductive sub set.
The just do nothing and wait to collect salary for doing nothing mostly the ones in all those ministries..
The notion that once any government is taking care of civil servants. It receives pass mark can never work with me .Infact I will never join to fight for anything that has to do with warfare of civil servants..I will only get involved in what that benefit larger population of Nigerians.
If u are thr and the salary is not enough. Just resign and go do something else
My problem with is government is the macro economy not working if na civil servants I no send them...not pretending

Whether you like it or not, the government must exist to take care of the people. The doctors provide health services. The teachers provide education services. The police provide security services. Everyone who works in government provides a service or public good.

Some also work to generate or collect revenue for the government with which the government takes care of providing public goods, services and utilities.

You don't have to like them but they must exist for any sane society to thrive.

My point is that their poor renumeration signalled by the minimum wage policy posture of the government coupled with other factors like corruption, tribalism and nepotism in their recruitment is all contributing to inefficient public service delivery that we're experiencing, and it is also transmitted to the private sector.

If you want to get people to do a good job, pay them well and recruit the best. Extract and demand the best from them but pay them well. By strict when hiring and be merciless when firing for poor performance. That's how you get a country working well.

If the government is sending bad signal (poor wages, corruption, incompetent workforce) it won't take long for the virus to spread to all sectors of the economy and the private sector. In the end everyone will suffer the consequences.

I'm speaking of an ideal situation. I know Nigeria's case is the opposite. But we must know the ideal situation and continuously push to get there. If everyone loses hope and keep condemning the ideal situation because the current situation is not working well, we will all soon lose sight of what is ideal and keep suffering the consequences of what the existing system gives us.

Asking people to resign if they're not satisfied with the miseræble minimum wages will only end up giving unqualified and incompetent people the opportunity to be there.

And yes, highly educated, competent and extremely qualified Nigerians are not in the public or civil service. Majority of them are in the private sector or outside Nigeria.

They're following your advice since the system doesn't reward them well for their talent. That's why Nigeria's civil and public service is filled mostly with those who are not fit to service.

mails4funshi:
Another way to look at it is, only 0.85% of Nigerians will gulp that much (Using 200M population Est).

So because 0.85% will gulp that amount, the entire 70 million workforce should accept 10k or poor salary? This is a very negative mindset of if I cannot enjoy it then nobody should enjoy it.

If the government sets a benchmark of 150k that is reflective of the cost of living then the private sector will take a cue which would help redistribute wealth and drive aggregate demand which is good for business and the economy.

Are you happy seeing people hungry and unable to meet up with monthly expenses despite working 6 days a week, 26 days a month?

Do you know what is responsible for the low per capita income of the country? Poor wages of majority of the people.

A security guard in UK Canada and USA can earn minimum wage, work 8 hours a day for 30 days and be able to earn enough to pay all his bills, save and invest.

A security guard in Nigeria will 12 hours every day for 30 days and his salary can only cover food and transportation. He will owe landlord rent and borrow from friends to transport to work. Zero savings. Zero investment. Zero future. All from a bad government policy. Why do you think those kind of people will not be motivated to go into kidnapping and armed robbery?

Change your mindset. Give what belongs to Caesar to Ceaser.

If 0.85% of the population needs to earn well for 70% of the country's population to earn well then it's better cos in the end, they can invest their savings into NGX and make everyone more wealthy.

mails4funshi:
Do kindly confirm the population (No. of Nigerians) that will gulp the 6.5M wage.

There's no uniform and centrally accessible, publicly available data on number of people in federal government payroll but it could be anywhere from 1.6 million people to 1.8 million people or more.

Let's guess it's average of 1.7 million people.

If you divide 6.5 trillion equally between 1.7 million you'll get 3.8 million annually or 318k monthly. Remove tax of 17% and you get 264k monthly on average which is a reasonable wage bill to run a truly efficient and quality service oriented bureaucracy in Nigeria of 2025 where inflation is over 30% but NBS keeps lying that inflation is 22%.

Streetinvestor2:
Oga I disagree on this maths. I don't pretend. Why should over 50% of the money be spent on civil servants that many add no real value. He should have sacked nothing less than half to bring down waste and reduce wage bill too.They should go and farm or learn a skill. Then put the remaining money in education and health sector
What is the population of civil servants that they should take up our collective sacrifice. The last time I checked nobody in my larger family is in civil service of both state or federal

Your argument is valid and I also mentioned implementation of improved Oronsaye report which would have resulted in mass layoff of fg government workers, living only mostly essential workers who run essential ministries and provide mostly essential public service, eg police, army, navy, teachers, doctors, judges, etc with very strict performance benchmarks and standards... Perform or go home, like in the private sector.

Also remember that it is these low level government employees that are poorly paid that engage or facilitate corrupt deals that leads to billions in losses to everyone. Pay them well and make it clear that they'll lose their valuable job, lose their assets and go to jail for aiding corruption. Imagine paying paper pushers, clerks, security, policemen and other lower grade workers poorly and expecting good results. It cannot happen.


Again, people outside government will still benefit from the increased minimum wage because private sector will now have to pay workers well and find improved ways to get value for what they're paying.

The carelessness of the government is why you see price of most goods and services jumping 200% to 400% while those earning 200k in 2023 are still earning 200k today. The private sector is the slavery headquarters of Nigeria. They fully exploit the unemployment situation to underpay workers and treat treat them poorly...low wages contributes causes low purchasing power, low business patronage and low economic growth.

Paying people poorly is giving them incentive to commit crime - steal, demand bribe, etc. How do you want to judge them when the system is doing everything to keep them poor?

Balablu doesn't know what he's doing. His media team can praise prices of goods coming down but they don't know that it will result to deflation. Falling prices will result to deflation and no company will want to produce when prices are falling, so his best bet now is to increase people's disposable income by increasing minimum wage and lowering tax, especially for low income earners.

Anything less is coded printing of money which will result in more inflation. Add unemployment and Nigeria ends up in stagflationary economy.

If there's no real improvement in the real sector (electricity, agriculture, manufacturing and services), the financial sector (including stock market) will be dragged down into a bear market.

The first step now is improve people's purchasing power but bulaba is planning to reduce it further from January 2026 with more taxes.

The journey still long for Nigerians

crownprince2017:
Do you think the money from subsidy removal can go round in paying minimum wage of 150? If yes, I will like to see that mathematics.

Thanks.

Minimum wage bill of 2023 for fg was around 4 trillion while subsidy payment (fuel and electricity) was around 7.26 trillion.

A serious government that wants to implement austerity measures without wiping out the middle class would have implemented a better version of Oronsaye report (trim and merge MDAs) which could have saved at least 500 billion annually.

As he gleefully shouted subsidy is gone, he would have also proclaimed 50% reduction in salaries and allowances of all elected and politically appointed federal government officials which would have saved another 300 billion.

After all this, minimum wage can then be increased to 150k for only grade level 1-6 and 30% increase for grade level 7-10. Every other grade stays the same cos they're already earning well and less impacted by the subsidy removal. These would have raised the wage bill to around 6.5 trillion.

Total savings from subsidy removal and austerity reforms = 7.26 trillion + 500 billion + 300 billion = 8.06 trillion

New wage bill = 6.5 trillion.

8.06 trillion - 6.5 trillion = 1.56 trillion net savings savings from year 2 of government after fully implementing subsidy removal and trimming down bloated government.

With these measures, you'll have less complain in the society cos there's been a form of wealth redistribution while government hands of paying fuel subsidy to corrupt racketeers.

At the same time, every revenue and expenditure must now be accounted for and there's full transparency and zero tolerance for corruption (executive, legislative and judiciary), while citizens are fully empowered by the law to scrutinize what every government official is doing without victimisation subject to you providing evidence and proving your claims. No more using courts and corrupt judges to stifle Investigations. Set measurable targets and measure performance regularly.

Put me there as president and you'll see real change in 2 years, not this balablu bulaba whatever that some people are celebrating here as if governance is rocket science.

If you have worked or ran a serious business where you set targets, track progress, measure performance and evaluate everything every week and every month, you'll know that Nigeria government is a joke and all they are doing is zero - just flexing power and stealing public funds to show off and oppress citizens

Lofty1000:
Guys hope you didn't sleep on this
https://doclib.ngxgroup.com/Financial_NewsDocs/44900_LEGEND_INTERNET_PLC-_YEAR_END_-_FINANCIAL_STATEMENT_FOR_2025_FINANCIAL_STATEMENTS_AUGUST_2025.pdf


Easy 100% starting from tomorrow

The news came out unexpectedly

Hope you know how to scrutinize a financial statement?

Operating profit declining and administrative expenses rising sharply is not a good sign. Negative reviews of the company's services is increasing. The stock is now on full offer and -10% tomorrow is looking more probable. Anything can happen though. Let's wait and see

mygee2:
Please expert in the house my grandfather bought some shares in the 19's and he is late now and most of the companies are merged we have the share cert how do we know the value of the shares and sell it. Thanks you

Open excel sheet, input name of all the companies, certificate number, folio numbers and quantities of shares.

Check if the company was liquidated or merged. If liquidated then the certificate is worthless.

For the ones that merged, research and read up on the merger terms. If it resulted in new shares being issued for the old ones, note it down and track the contact details of the new and old registerers. Contact the new registerers to track the shares and all dividends.

Before then you need to obtain a probate or letter of administration from any high court in the place he lived/died.

Hope you have evidence of his death and will he wrote on who gets what of his properties or assets?

You need to also have a CSCS account.

With all these, the dividends can be tracked and recovered and the share certificate dematerialised and transferred to you, if you are the administrator of his estate.

Those who take the sign of governors singing praises for receiving higher allocations as evidence of good governance probably failed elementary maths.

Minimum wage used to be ₦30,000=$66 at ₦450/$ Are those receiving ₦70,000 today happy given that today ₦70,000=$45 at ₦1550/$? Your answer should show if you understand basic maths.

Meanwhile, remember that most capital projects of states are valued in dollars but paid in naira at the prevailing exchange rate. If your state awards project to any Chinese or foreign company to construct road or supply equipment, they'll pay the naira sum of the dollar equivalent and the company will convert it to dollars and move it back home to their country. So, how does the state benefit, especially if those contracts have been inflated for kickback purposes?

So, don't follow the talk of most Nigerian governors unless you see their performance improving the life of their people. They'll do anything to prevent EFCC controlled by the president from investigating them for embezzlement of public funds, including lying and praising bad policies of the federal government.

mikeapollo:
There is never only one reason for a major economic policy decision like the sharp devaluation of a currency! There are always a combination of factors. So far, I have not seen the govt/CBN issue a circular to say there is only one primary reason why they devalued the naira. So where do you get the ''primary reason'' from?
Govt officials themselves have come out publicly to say that they see benefits from the devaluation because they get more revenue to support the budget. And you want me to denounce or deny it here in order to please someone's opinion?

Devaluing looks good on paper but it is never a good thing. Let me explain it in simple terms;

1. Devaluing is carried out for two reasons; to make your exports cheap and/or to easily access foreign loans. China is an example of a country that has been devaluing their currency or keeping it artificially low so that their goods can be relatively cheap. Trump has been shouting about it everywhere, and it's part of the reason he imposed tariff.

2. Third world countries that don't have much exports of finished goods often devalue or float their currency because it's a primary condition they're given by foreign lenders. Foreign lenders prefer you devalue or float so that they don't end up losing their money if you artificially increase the value of your country's currency before you repay them. If your currency is stronger before you repay the loan, the foreign lender loses in real terms because his money will now be able to buy less amount of your goods.

3. Borrowing is not bad only if you use it for executing critical projects that creates value and makes the country more productive. For example, $30 billion loan used to fix all existing federal roads, buy and distribute farm machinery, support processing plants, build and equip schools and hospitals and equip security forces will greatly enhance productivity in Nigeria to a point where we can repay the loan with ease. And all the projects must be executed with zero tolerance for corruption. But same $30 billion loan spent on renovating airport, renovating conference centre, building coastal road, paying politician higher salary and the likes will only end up putting the country into trouble cos when time is ripe you can't repay that loan unless you borrow more. I'll leave you to access how the money being borrowed currently is being used.

4. Every poor country like Nigeria is better off having a strong currency. Imagine if €1 = ₦1 and you have ₦20,000,000. Do you know how many capital equipments you can bring into the country to support production and development? In this life, you need capital. With enough capital you get the machines, equipments, trainings and facilities to build and support a thriving society. But foreign powers who control foreign lenders know this, so they'll never support you in this regard. They'll rather push you to devalue or float your currency so they'll covertly deströy your economy by feeding your greed.

5. Forget what is on paper and forget what they're telling you that tomorrow will look like. Judge with what you are seeing now. Where do you think Nigeria is headed after subsidy removal and devaluing in a country where insecurity is rife and corruption is rife?

The biggest drain on Nigeria's forex has always been importation of petroleum products (pms, diesel, etc).

With Dangote refinery running, BUA coming online and Aradel running, you'd expect that Nigeria no longer spends huge forex on importing fuel and so Nigeria will not be borrowing so much which could put a strain on the country's exchange rate and potentially make it worse. What have we been seeing? Borrowing heavily in dollars, home and abroad.

After removing subsidy and floating the naira, a compassionate administration would have set minimum wage at ₦150,000 while prioritising expenditure on existing roads, education, healthcare, security and agriculture.

Those are the core areas that impact most Nigerians and the economy.

With focus on these areas, there won't be need to borrow and spend on white elephant projects like he's doing.

The speed with which he's using to pass anti-people laws and policies can also be used to pass laws that benefit the people.

Without, ASUU, ASUP, Doctors, NLC and TUC going on strike, what stops this wicked man from unilaterally announcing an upward review of minimum wage and effecting it within 3 months?

But instead, hungry and poor Nigerians have been greeted with the news that he's planning to spend more tax payers money on those running a government that is not improving the life of Nigerians.

I just cannot understand how someone that has acquired all the wealth in the world cannot spend his few years remaining on earth to do things that ordinary people will remember and praise him for.

Instead, 80% of ordinary Nigerians swear for him when they wake up and when they go to sleep because of the sufferin he's put everyone in.

Those praising him here make it look like governance is rocket science when in fact it is the little things you do that touch people the most that people remember you for.

Yar Adua is far gone but millions of Nigerians still remember and pray for him because the few months he spent in office, he impacted on everyone's life and made it clear that he'll never tolerate corruption.

Yar Adua already planned to make a law that will empower ordinary people and journalists to monitor every aspect of life of a politician and public officer paid by tax payers in order to fight corruption in Nigeria. That's probably why they took him out.

And then Jonathan came in and passed the cybercrime law that makes it difficult to expose corrupt people, which the current president and his likes are now using to gág everyone and súppress free speech.

Nigeria is a rich country with extremely poor citizens. More than 80% of Nigerians are poor and they earn minimum wage of less than $40 per month.

Any president coming in already knows this data. What sense does it make to start implementating policies and reforms that pushes more people into poverty and hunger?

Go without security to any market in Nigeria and try to praise him. The feedback you will get from people will change your life.

If you have made money from the stock market, enjoy your money in silence and don't use it as a reason to praise him.

pluto09:
I have my problems with PBAT and there are many things I want him to do that he has not done right.
However,on the issue of subsidy and floating of the currency, I give it to him, that is how I want my president to act.

Removing subsidy and floating the naira is like parking your property out of a house that is about to be swept away by flood or where the landlord has removed the roof.

If you park out into the street, does it end there?

If you are hungry and you decide to put two hungry man size indomie and two eggs ontop your gas burner to cook so you can eat and quench your hunger, will you put it on the gas and forget it there?

In both scenarios, you'll get a disastrous outcome if you don't monitor your property or what you are cooking.

Removing subsidy and floating the naira is not a bad idea.

Okay.

What about wasteful spending on renovation and coastal road?
What about bloated cabinet for political patronage?
What about increased education fees?
What about low minimum wage?
What about increased electricity tariff?
What about increased taxation?
What about reduced taxation for the rich who have businesses?
What about the corruption still going on?

You remove subsidy and float the currency but you leave all the aforementioned problems in place and you expect the country to move forward.

Really?

Streetinvestor2:
God bless u for seeing a shovel and not calling it a working tool.Nigerians have never had it this bad if u dey street. The hunger and poverty on the street no be here.The government is busy borrowing and looting via bloated and not needed infrastructure at this period

Some people don't know how bad the situation is and how wasteful he has been. For example, if you have a company located in Ogun state, it's extremely difficult and expensive to transport your goods to south south and south east Nigeria because 80% of the federal roads in the region is a total write-off. Companies are losing billions daily due to poor condition of existing roads and the criminality going on.

When your goods finally arrive, nobody is buoyant enough to buy because people's income are very low compared to cost of living. You can work as a bank teller for 25 years and you'll not be able to buy a car or build a house in Nigeria because of the low wages. Is it hungry people that will put their money in the stock market?

The 15 trillion for coastal road could have been used to declare emergency on existing federal roads to reduce distribution costs for business. Trim down the cabinet to maximum of 36 members with only one aide each instead of 52 members plus 10 or more aides each. The savings from a trimmed cabinet would be enough to settle power sector debt and reform the sector for measurable efficient service delivery to reduce cost of production in Nigeria. Then he could have declared emergency in the agricultural sector alongside the security sector to increase food production instead of opening border to flood Nigeria with substandard gmö laced food from outside the country after pushing everyone into poverty. All the billions being spent to renovate conference centre and airport would have been better channeled to build and equip more hospitals and education facilities and pay doctors and lecturers well while keeping cost of education low for citizens.

All of the above combined would have improved the welfare of Nigerians despite subsidy removal, especially if he implements them with ZERO tolerance for corruption.

Now measure what he's been doing and the results he's getting against the suggestion of a nobody like me who doesn't have the so-called sophisticated experience he has and judge for yourself if he's been doing things right or wrong.

I am not impressed by whatever policies he's pursuing as long as they don't translate to improved welfare for the poor and now nonexistent middle class of Nigeria.

If he continues in this direction, it won't take long for everything to come crashing down because you don't build prosperity on sinking sand and expect it to stand strong.

ojesymsym:
For me, it is Fidelity that made the most movement within a 2 year period.

If you meniton GTB you should also mention Zenith in same breath since they have a very high correlation.

GTCO is better than Zenith in terms of financial performance. They're the only bank not caught in the forebearance trap that will make most of the top tier banks not pay dividend this year or very little. Zenith is also trying though.

pluto09:
That is a bold and pragmatic leader.
Others had been too timid to take a seemingly difficult but necessary decisions.

Please don't praise that wíckëd octogenarian who is more selfish than the devil and doesn't mind putting everyone into poverty as long as him and his cronies are well off.

He contributed to Nigeria's currency crisis by advising his fellow emptïhead to print more money in the aftermath of cøvîd 19.

He vehemently opposed subsidy removal when Nigeria had supplus revenue and savings and would have been able to better withstand the storm.

There's been zero reduction in cost governance and wasteful spending since he embarked on his poverty generating reforms. Instead its looking like all the savings from subsidy removal have been going into making life more comfortable for the rich and mighty political class.

Most Nigerians are still battling with extremely low purchasing power and that's because the old low iq man set the minimum wage very low compared to the cost of living wage. This is to keep more people in poverty to make them powerless and controllable. The attendant effect is that businesses engaged in production of goods and services will experience low patronage because people can barely survive with their income.

It's easy to praise him for favouring the rich and putting more people into poverty, but how can a society thrive with so many poor people around who must survive?

The insecurity you see today is partly caused by the poverty he's creating. No rich person in Nigeria can freely enjoy their wealth. They and their families will be targeted by criminals and kìdnæpērs, many of whom are poor people created by 11 years of bad political leadership of one party.

I'm happy that I am shielded from the wïckêdnès of Nigerian politicians and I am financially free, but I can never betray the poor in Nigeria because he put a policy in place that made me richer from the stock market boom.

The burden he created alongside the wealth is too heavy to bear.

mikeapollo:
I think Stanbic IBTC bank did some share buy back several years ago, and that is apparently contributing to their equity returns and high share price.
Some of the other banks may do same if they deem their outstanding shares to be too large in size.

Stanbic is amongst the lowest with 15+ billion outstanding shares. The rest are running wild with their share issuance:

First bank - 41+ billion
Fcmb - 39+ billion with another 10 billion in the pipeline
UBA - 44+ billion
GTCO - 32+ billion
Access Bank - 53+ billion
Zenith - 41+ billion
Fidelity - 50+ billion

The only good thing about the banks with huge OS is that they're good for trading as they're highly liquid.

In terms of holding for capital appreciation, aside GTCO, you're better off looking elsewhere.

Bank stocks are the worst form of stocks to hold. They'll keep diluting your shares till what you own is an infinitesimal part of their outstanding shares, at which point you'll practically get next to peanuts even if they declare billions in profit.

Banks ought to buy back a part of their circulating shares during periods of surplus, to create shareholders value, but they won't because they're part of the scam monetary system that feeds off printing money to render people poor. That's why banks print new shares to sell each time they're given new capital requirements.

If you are looking for capital appreciation, avoid most nigerian stocks that have outstanding shares of over 40 billion or more.

You're better off owning commercial papers, treasury bills and government bonds.

Locotrader:
Anyone who is using Atlas to trade will buy/sell stocks at the best prices in the market.

The reason I said this is because their platform gives the best bid/offer depths.
Cardinalstone is lagging behind here.
The 20m bid depth you see in Atlas,cardinalstone will show 12m.This to me is deceiving.Whenever I want to trade with cardinalstone,I will put on my laptop and connect to Atlas to know exact bid depth or offer depth before putting order.

All these brokers has merits and demerits but in all,I give it to cardinalstone for an outstanding services

You're correct with your assessment of Atlas but their mobile app is scary to use with its constant request to access your location. Even a sophisticated Binance mobile app doesn't request you to turn on Location or else they'll block you from using it. Atlas makes it seem they're monitoring you or your phone when you install their app. I uninstalled it immediately I downloaded and tried to use it.

Two areas the stock brokers need to improve is automated funding and withdrawal. They can copy how Cardinal Stone is doing theirs.

The second is optimisation of their website for mobile users. Even cardinal stone fails in this regard, with the constant need to zoom in and zoom out.

This is 2025. All this stock brokers should know that most people use their phones to access the internet than a computer. If your platform UX is not mobile friendly, it will put off a lot of users and potential retail investors

Oasisblue:
Even on their website, you will see stuff like "Lorem ipsum dolor sit amet...." in places where real information should be. I am shocked. I thought they hold a lot of promise as pioneers of fibre internet in Nigeria. I guess I am wrong.

Someone needs to email Legend Internet and point out all these anomalies.

Their digital footprint is not looking good for their kind of business.

Oasisblue:
Someone should inform Legend Internet that they are now a publicly listed company and should publish their Q2 FY results,

If you read the reviews of Legend Internet you'd wonder how come they're still in business or if they'll remain in business for long.

The reviews are so so terrible and the company seems unconcerned about it.

Meanwhile you won't see any positive review for those who are enjoying their service, if there's anyone.

If people actually read reviews of Legend Internet before patronising them, they won't continue in business for long.

Transpower on full offer.
₦75+ million worth of shares at ₦257+

7+ billion outstanding shares in a country of less than 300 million people with minimum wage of 70k.

The runners of this company are somehow

Lofty1000:
Good morning community!
Pls what's the new price target for these stocks:

What app is this?