₦airaland Forum

angelo82:
I don't think that list is authentic.................

Don't think so too

McIrx:
Oga,what doesn't kill you can also leave you in a deformed state.

He he he

EDUECO:
Bro/Prof lancee,how can we benefit from this strategy of foreign investors?

If u think its only the local investors that re moving the market , then maybe am wrong , like someone said last yr buy now and sell to them after

angelo82:
Is there any bad news going around?.................I mean politically bad news............

bad news ke.. I guess some foreign investors re still waiting for the naira to be devalued again before they come fully to the market

[quote author=angelo82 post=34313113]Must be foreign investors...........They usually pull the stock intentionally down to 4.50 and later within 3weeks move it up to 8 or 9 but I have not been seeing that pattern all this while......................




Think it will get there , there is a lot to be mopped at the moment

angelo82:
Access seems to be taking intentional cue.............Vono seems more profitable to buy than Vitafoam but I couldn't find any to buy.....................

Don't know who re mopping up Access sinc last week

Access bank

inviix:


Why should a company's business be put on hold because they're in a meeting? Is it a recharge card business?

I wonderoo , have transferred my money to meristem now for trading this morning ..I don't know whats goin on with morgan again

morgan phones switched off .. maybe there re in a meeting

myjoy08:
Happy New Month of June. I wish everyone a joyful new song, fulfillment of promises, uncommon favor, abundant grace, unlimited joy, and immeasurable peace in this month. And all our portfolios and trading, starting from today, shall experience all the best we ever wished for (Green House of blessings). It is well with us all.

God bless Nigeria! A positive and new beginning has began

Amen to that !

culled from punchng... Info






Taxes from real economy can transform Nigeria – Robertson

May 30, 2015 : ‘









Mr. Charles Robertson
Mr. Charles Robertson

The Global Chief Economist at London-based Investment Bank, Renaissance Capital, Mr. Charles Robertson, in this interview with ‘FEMI ASU, stresses the importance of effective tax collection from the real economy in Nigeria, especially amid low oil price.

A number of foreign investors are still bullish about Nigeria despite headwinds in the economy, what in your view has continued to interest the investors?

Investors like Nigeria because they are excited by countries of about 200 million people. Investors like big markets. One country, big market, huge population – that is interesting. Where they get excited is when it is a big market, say 180 million people, and it is still growing rapidly. Nigeria has one of the fastest growing rates in the world since 2000, and we assume that that growth will continue to be fast and, in fact, accelerate through the 2020s, 2030s and 2040s. So, Nigeria’s per capital Gross Domestic Product goes to maybe $15,000 by 2050 and the economy then is going to be the largest still in Africa. Africa as a whole will be a $29tn economy. Today, the whole of Africa is $2tn; America, by contrast, is about $18tn. The whole economy of Africa is slightly smaller than California. That won’t be the story in the next 30, 40 years. Africa is growing very fast and Nigeria is part of that. So people are saying if there is an economy that is going to grow from $2tn a few years ago to $29tn, Nigeria will be still the single most important part of that in 30, 40 years. I just invest some money in Nigeria and wait because the returns will come.

What do you see as threats to this projection you have about Nigeria?

The forecasts are quite cautious because what we are forecasting is that Nigeria makes all of the mistakes that developing Asia has made over the last 20, 30 years. In 1997/1998, Asia blew up catastrophically and people wrote off the continent, saying “Asia is not going anywhere. It is a disaster.” Now, everyone is buying Samsung phones and looking at China and saying “how amazing!”, or looking at India and saying it is the next China. What we are saying is that for Africa to be the next Asia, we assume it makes the same mistakes and that’s within our growth projections. The interesting question is whether it could be much better. Is it possible that Nigeria, Kenya, Tanzania could look at the mistakes made in other countries and learn from them and do better? We know how reforms should be done in Asia or what infrastructure needed in Latin America, maybe we can take that knowledge and bring it here. In Brazil, it took them 20 years to work out the fertilisers needed for their type of earth. It is the same earth you have in Nigeria, same quality, same acidity, the alkaline nature of the earth exactly the same. So the kind of fertilisers that work in Brazil will work here; bring them over, make those and boost Nigeria’s agriculture quicker than they did in Brazil.


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What do you think the new government should focus on to spur the growth and development of the Nigerian economy?

I think the greatest challenge is expectation about what the government can do. People think the government will provide jobs for everyone, and free healthcare and that everything in life is good for everyone. It is never possible, even in rich countries. In a country like Nigeria, the challenges are even more important. We have got the challenge of making sure enough kids are getting educated because if they don’t, in 20 years time, your country will have absolute poverty. You’ve got to have electricity, otherwise how can you have manufacturing. You’ve got to have a budget which is sensible but people will want you to spend more on teachers and electricity. So you will spend more on electricity and teachers, but you must spend less because if you borrow too much, your budget will be a mess. Your currency will weaken and you’ll get a lot of economic instability; that doesn’t support growth. You have got to invest more and encourage people to save more. Get people to save into pensions. And in Nigeria’s case, you have the issue of Boko Haram. Government spending on defence is very low, one per cent of the GDP. A country like Pakistan which has similar problem of terrorism spend three per cent of her GDP. So should the government triple spending on defence or spend more on electricity or on teachers? There are so many challenges for the government and we have to accept what the government will do. So what is going to happen in Nigeria? Buhari will focus on anti-corruption and that may be very useful because if less revenue gets lost through corruption, perhaps more revenue comes to the government to spend on infrastructure, teachers and the other essential items.

What do you see as the outlook for the naira in the coming months?

Very broadly, the oil price budgeted is down by a third. Last year’s oil price benchmark was around $78 per barrel; for this year, it is $52. That is a third less. You need the currency to sell off that. So we assume that the currency depreciates a little. Does that make a big difference to most people? Probably not, but it will reassure investors. Right now, the N200 to a dollar is regarded sceptically that investors are concerned that that is not sustainable in the long run. JP Morgan in January said it had placed Nigeria on a negative index watch on its Government Bond Index and that it would assess its place on the index over the next three to five months. Are we likely to see Nigeria’s removal from the index? I don’t know whether the Central Bank of Nigeria can make the changes quickly enough to satisfy the index provider. In the next three months or more, we suspect that there will be more flexibility on the exchange rate.

Should the low oil price persist, what do you think will be the implications for Nigeria going forward?

I think it is harder in the short term for Nigeria when the oil price is lower; in the longer term, it is probably a good thing. Nigeria is not going to be one of the big oil countries of this world. Nigeria is going to be a big economy but not because of oil. It is not Saudi Arabia; it is not Russia, not Venezuela. The question is how quickly does Nigeria become more of an industrial nation, more of a services nation, with banks, retail, and consumer goods and a bigger agriculture nation? The longer the oil price is high, the slower it would take for Nigeria to make that change because when the oil price is very high, there is quite a lot of money and it is less incentive to develop these other parts of the economy. But when the oil price is low, there is more incentive. The government is going to have a tax issue; where does it get the tax revenue from. If the oil price is low, it has to start collecting those tax revenues from other parts of the economy. And Lagos has shown us that can be done. The Lagos state government made the difference; it collected taxes, quite impressively so. And that’s what the Federal Government should be trying to focus on. Once you are collecting taxes from the real economy, not from the oil economy, it changes everything. Because when you collect taxes for free from oil, which you have not worked for, that is on the ground and just comes out, you collect the money; gain free money, you don’t tend to treat it with the same respect as money that is hard-earned.

Do you have concern about the Nigeria’s ratio of recurrent to capital expenditure?

The government spends a lot of money on wages, not very much on investment. I think the finance ministry will like to see that change. Okonjo-Iweala has talked about that being a problem for many years, and we are sympathetic to her view on that issue. But investment doesn’t have to come from the government side; the government can make it easy for the private sector to be doing these investments, which is what we are seeing in the electricity sector. You privatise the electricity sector, and investment then becomes the responsibility of the private sector, not the government. And that takes pressure off the government, and I think given all the challenges that are there for the government; that’s good news. If there is demand for electricity, which there is, the private sector should satisfy that amount.

.

cadno:
Oga Chi, pls OandO better act fast, I had a small quarrel with Wify this morning on the too long wait for stock market to perform,
@MyJoy, does ur Wify see u as throwing money away too ..

Anytime I make loss/brearish mkt on NSE ..na to keep quite or else

spicytayomic:

myjoy08:
Change has finally come. As Nigeria undergo a new dawn, wishing entire Nigerians and our BNSITL all the best. We shall from this moment enjoy all the best dividends of our democracy. And our portfolios shall experience a new beginning in Green zone from this moment .

God bless Nigeria!

God bless Nigeria !

mercylicious:
@swg, watch unity and Skye b4 u enter. Skye is already showing signs of weakness. Its d MKT makers DT are holding the price for now. It may not give u short term gains unless d MKT makers decided to move d price to 3 naira b4 d capital raising.

Proshare analysis on their 2014 result was bad as well. Even with the capital raising, they forecast their roe might drop to 8%. I've reduced half my stake here.

This is d first night in a row DT nsempa is sleeping.

Who and who have taken position in access bank. I remember they normally give interim result after q2 is announced.

Caveat- I don't own units of access bank.

We neva sleep madam mercy , we still dey active

When its your time , even your enemies will bow for you

joy man and black --will smith

Born2berich:
UBA would have crossed the N6 mark by now if not for the snail called access and the fat lazy elephant obscuring its movement.

u re right sir, pple re really taking position today..hopefully it will get there

[quote author=jp130 post=34171436]Plz sombodi shud check oando bid n offer for me. N d price,[/quot


5030824 BID ..OFFER ...4451637

UBA !

BUSTED !!

Nobody go give me HBP for this forum ..na only me never make money so far ..I go soon form my own story

saibuhari:
The stock is Vitafoam. Am sure people will be surprised. Am ready for your genuine questions but note there are questions, I wont be able to answer publicly. Try and get this stock between today and tomorrow that's why I gave advance info for your to get cash ready.

Thanks SAI BABA !!

Comsol:
Back up and running

Thanks bro

seems morgan capital is down

saibuhari:
My guy, the last time I checked I did not appoint you my spokesman. The stock is not Unity Bank and its not Courtville as being speculated. And for those talking about fundamentals, am not good in tumbum tumbum analysis or coding of information. But to the best of my knowledge, it has good fundamentals. But the impending rally will have nothing to do with its fundamentals. Information remains priceless. Because of the interest shown, I will reveal the stock tomorrow if my confirmation is positive on its rally. If it wont do at least 100%, you guys will hear no further from me. I want to give you guys good and unprecedented gift and it will remain a veritable example of how to help others with stock tips.

SAI BABA I BEG OO, WE GO DO OUR DD ..EVEN IF THE THING NO DO 100% WE GO MANAGE AM LIKE THAT , U CHOP VITAFOAM ALONE MAKE U NO CHOP THIS ONE ALONE ..SAI BABA U MUST TALK OO

[quote author=angelo82 post=34118803]There is a sense in that...........No worries,those people they are accountable..............Seems they are deducting some money from the payment...........



Thanks sir , I calculated it , the bonus and the tasere div still make sense .. some tangible cash u know

[quote author=angelo82 post=34118104]lol......Hope you don get your alert now..........I don receive all for my account..........


I neveroo , all the 3 fbnh accounts...I will wait , someone told me its alphabetically done my surname start with S ..I still dey wait sha

SAI BABA JOOR OOO..make una no chop alone oo