₦airaland Forum

yemre:
It is very true, they make that kinds of money daily even more, especially when Uber was still around and many of them were on Uber platform.

But now, the story is no longer the same. Now they're complaining. That doesn't mean they're not making money but it's not like what it used to be.

However, if you wish, you can still join them, but with a target mentality! Depending on what you think. But in my own personal opinion, driving isn't something you can do for long because it can be draining and tiring. Those who have cars and drive in Lagos traffic for hours to & from to work daily can testify,

But then, it depends on you. There's money in e-hailing business. But my advice is that you do it with a plan and do something much better when you've hit your target.

Just my two cents!

They can make it on a very good day and not everyday. Average net income for driver not delivering will not be up to one million naira a month

Gross inflow or revenue will be up to that and leftover after expenses can be up to that on a good day if you own your own vehicle.
50k is like 1.2 million naira oer month without Sundays and that is not much for a labourer using equipment worth over fifteen million naira working non stop during working hours

VoodooDoll:
Most Yoruba names are shortened from phrases,

My Yoruba is poor as well but here goes:

Dawodu could be "Eni ti a da wo du, " which I think means the person we first saw a lot of. "Wo" means "to see or look after"

Same way "Eni ti a e wo" : Taiwo

I didn't see this comment originally. You are probably correct. Da owo du. Meaning they contributed their money or effort to uplift or save the person. I believe that is the meaning. Just like Ugbodu means saved by Ugbo or the wilderness

Edit

I don't think the owo means money though, I think it means hands as in owo or effort.

What advantage does an old spirit have?

The core advantage is that it will know many other older spirits in heaven just the same way an adult human being will have more connections than a child.
It means life will tend to be easier for the person whose spirit has been in existence for one hundred thousand years than for someone whose spirit was born only one century ago because the former have more connections.

Spirits know each other and each human being is not much more than a robot to his or her spirit. You would not as a person be able to really step out of what your spirit wants to do and this makes you similar to a teleguided robot under the control of your spirit.

A person on incarnation with a full 24 incarnations active should naturally be more intelligent in my opinion and moreso if they are at the highest of eight levels of Godlike managerial ability. Active incarnations function like external brains because all the information on them is accessible at a glance to your spirit. Therefore someone with the maximum of 24 active incarnations should naturally be more intelligent than someone with say ten active ones. When you have incarnated multiple times up to more than 24 times, you will always delete one incarnation to maintain a total of 24 because if it exceeds 24, the appetite for food that your spirit has will spiral out of control. However if you need any particular one, your lineage in heaven will activate it for you to use by deleting a less important one and replacing it with the needed one.

For as long as you keep referring to natural resources as what will save you then you have not started
Also a kid can easily be fluent in four languages. Many people in Nigeria speak at least four. A Nupe for instance may speak Nupe, Yoruba, Hausa, English and one other. No bg deal

Then Hausa are not more than the Yoruba in population. Their biggest city is around the same population as Ibadan and Lagos is more than three times of Kano. Also Sokoto, Katsina, Birnin Kebbi, Kaduna, Zaria etc are not up to Ilorin, Abeokuta, Akure, Osogbo, Ife, Ilesa, Ado ekiti, Ogbomoso. etc in any thing. If they have villages the Yoruba also have. So how can Hausa be up to Yoruba in population? They are not up to

FSBoperator:
Meds.

Now!

Are you saying it is because of meds they didn't respond? I have been accusing them starting from 2012 and no response. I attack them on Facebook and etc no response. Can you explain how it is meds? You children on nairaland will never cease to amaze me!

A government of national unity under a fair constitution

If there was a good constitution, no group would complain in Nigeria. A country like Nigeria can only work with a perpetual government of national unity not a government that keeps the leadership of any group out of the board room or government.

Chief Ladoke Akintola realized this and therefore formed the NNDP when the AG refused to agree with him. Within a year he ensured that a Yoruba was made the Vice Chancellor of the University of Lagos when prior to that time, Yoruba Professors in the two Nigerian unversities had to be working under people that did not have a degree when they had already become a Professor just because the leadership of their constituency was in the opposition. Chief Akintola was able to do that and if the first Republic had not been aborted then he would have along with PM Balewa in their NPC- NNDP alliance conducted referendums for any group asking for it in the country. There was nothing to stop that from happening if the first Republic was not truncated and that was why the western house of assembly did not bother to oppose a referendum for the Midwest. They voted for it overwhelmingly, preparing themselves for the next move.

Chief Ladoke Akintola was right to align with the ruling party because you can't refuse to attend family meetings and yet be complaining that you were shortchanged by the decisions reached there. If in the dead of the night you hear your neighbors shouting carry it! Carry it! then you have to step out and join them, else whatever is being carried would definitely be dumped at your doorstep.

A country like Nigeria or even any country can only succeed if it is obliged to always set up a government of national unity. If the AG were not in the opposition in 1960, there would have been no independence for Nigeria without the Northern Yoruba joined to the western region according to their desire already expressed via a referendum.

So how can the Igbo, Yoruba, Hausa etc agree with any constitution they didn't sign? And if they signed any constitution, they would still want it to be amendable. In the Igbo culture, every family head has a voice and every issue is debated at the Umunna level until agreeable to all and once a motion is passed, no one would complain. A Yoruba Oba can not grant any request without consulting the Ogboni council and if he does, it will be reviewed by the council. All groups have their traditional ways too. Therefore no national cohesion or progress can be easy without a constitution that every group agrees to. A constitution fair to all

I HAVE BEEN SAYING FOR YEARS THAT ENOCH ADEBOYE OF THE RCCG TRICKED JOHN AUDU OF EKE AVRUGO KOGI STATE TO ITALY WITH A JOB OFFER, THEN SET HIM UP. TO INFORMALLY RELIEVE SOMEONE THEN PERSONALLY HACKED HIM TO DEATH WHEN HE GOT THERE. WHY? BECAUSE HE FOUND OUT HE WAS THE ONE THAT PAID HIM 250K BY PROXY IN 2006 TO ASSASSINATE ME WHILE I WAS DOING NYSC

WHY CAN'T ADEBOYE RESPOND? ASK YOURSELF WHY ADEBOYE CAN NOT RESPOND

OYEDEPO TOO CAN NOT RESPOND. HE SENT ASSASSINS AFTER ME AND THEY WERE MASSACRED ETC ETC

THESE ARE THE TOP MOST RESPECTED PEOPLE BY THE MASSES IN NIGERIA AND YOU WONDER WHY THE COUNTRY IS THE WAY IT IS?

SOVEREIGN DEBTS- NO COUNTRY FULFILLING ITS OBLIGATIONS HAS BORROWED TOO MUCH.

It is the inflated economies of high income countries that makes onlookers think they have borrowed too much or even that they are very rich. It is also why some people are asking for reparations for the transatlantic slave trade and colonisation

The fact however is that by actual production, no high income country is pulling above its weight. Maybe some are pulling above their weight in consumption. That maybe debatable. Morocco in North Africa is producing more automobiles than the average high income country on a per capita basis. If Nigeria were to solve it's power problem and also steel problem, the country will drive out Morocco totally because of cheaper labor. The country will undersell them massively. So high income countries are not producing optimally but they are consuming optimally and their GDP is inflated. The GDP is inflated because anything produced and consumed in the country will generate GDP multiple times of what it generates in low income countries and it will be counted as nominal GDP. Housing generates massively more, services, beverages and etc too. As their GDP figures are inflated, so also is the net worth of their high net worth individuals as well as their sovereign debts.

However, no entity that is able to service its debts is owing too much. Definitely a government using twenty percent of it's revenue to service debts is still on a much better footing fiscally than a country like Nigeria that was using over ninety percent in 2023 and maybe over sixty percent now in 2026. The only difference is that high income countries generally have a higher tax to GDP ratio or government revenue to GDP ratio meaning their revenue capacity is already well stretched unlike Nigeria's that is not yet fully or well stretched.

Therefore we can say no country has outdone its self so far sovereign debts are concerned.

It is therefore easy to restructure the global economy so that the cost of living becomes equal across board to make it easy for all sovereign debts to be added together and paid together after they are rebased

banku:
Even if everything you stated is right, someone from Western Nigeria should not tolerate that amount of Poverty in Nigeria.

My only reservation is that most of the data came from 2023 and before. We cannot used that to absolve Tinubu either. Actually, my fear is that poverty might have temporarily increased under admitted measures for long-term gain.

Ironically, Northern politicians that have traditionally used poverty to suppress their people also joined the cry to blame Tinubu.

Somebody living on 5 dollars a day in an average Nigerian city isn't poor is the thing but world bank definition says the person is. Is a single person with 150k per month income in Sokoto, Kano, Ibadan, Enugu etc poor in Nigeria? The answer is No because there is nothing that makes life full that the person can not afford. Someone earning less is still not poor. 150k.is around 100 dollars

anonimi:
In summary VAT is charged in Lagos ports for shipping services on goods destined to places outside the state.

How many clearing and forwarding agents? Let's say one thousand. How much is their average revenue per annum? Maybe 50 million. How much VAT is possible? Less than 3 million each. Total? 3 billion naira. Meanwhile there are also imports through land borders in the North however small and they collect tax on cattle headed to Lagos when they are not the ones eating the cattle. You work in Lagos you pay VAT in Lagos. You work anywhere else you pay taxes there but most people in Nigeria lack understanding about how things work

INEC doing the work of the NIMC.

A few days ago, the INEC chairman gave a breakdown of voter registration in the country and he was able to give real figures on the age groups that registered. He also provided data on people with disability, people with autism, unemployed people and etc that registered to vote. The short report was quite impressive.

It is however data that should be published periodically say quarterly by the NIMC and not the INEC.

The NIMC is also doing well because in only this Ijebu jesa, they have at least two private companies working under them that I know of (they may be more) and the companies are buoyant enough to employ at least one graduate each. I know that one has retained the NYSC member working there. What they do is GSM sim card swaps and NIN information alteration for which they charge. If they add GSM line porting then their revenue may at least double.

These companies already working with the NIMC means the NIMC can do all the work of INEC without exception and without employing any additional worker. The employees of these private companies can be trained to do voter registration. They can also be trained to conduct elections and etc. However a NIN registration card should be able to serve the purpose of a voter's card ordinarily.

The government can also make it compulsory for all citizens to always change the information on their NIN when they change place of employment or change residential address and this will further increase the revenue of the private companies. The government can also mandate them to pay taxable wages to their workers and I believe up to three thousand people will enter the tax net across the country immediately if that is done.

The NIMC can publish data periodically on how many enrolled people are over eighteen years of age, how many enrolled people died in any year if deaths must be reported, how many are unemployed, how many live in Lagos or any other state, how many are foreigners? etc etc. In short, it is the director of the NIMC that should be publishing periodically the kind of report that was recently published by the INEC chairman.

anonimi:


VAT is not charged on any of the shipping services, including clearing and forwarding?

VAT is paid by production or servicing companies. Clearing and forwarding companies can possibly bill you VAT the same way a barber can bill you VAT. It is ordinarily not supposed to be more than on their own clearing charges. If they bill you on the value of your import then they are swindling you. Will Dangote refinery pay 7.5 percent on his equipments to clearing and forwarding agents? No. He will only pay VAT on their charges while the equipment producer will pay VAT at home. The company here in Nigeria importing will remove the value of the equipment from its VATable revenue

GOOD MANIFESTO but not well supported by research.

Nigeria does not need a one trillion dollar economy.

A family of five in Nigeria comprising two working parents and three kids does not need more than 800k per month in income before tax which adds up to 9.6 million in househokd income per annum which is USD 7400 and their per capital income would be USD 1400. Bring it up to 1600 to accommodate high taxes and HNIs and it would be sa VERY PROSPEROUS COUNTRY WITH A GDP OF AROUND 370 BILLION DOLLARS FOR AROUND 230 MILLION PEOPLE.

SO THEREFORE DONT PRAY FOR A ONE TRILLION DOLLAR GDP UNLESS YOU WANT A COUNTRY WHERE RENT FOR ONE PERSON LIVING ALONE IN A PLACE LIKE KANO IBADAN OR ILESA IS A MINIMUM OF 400K AND FOR A FAMILY OF FIVE A MINIMUM OF 1.5 MILLION NAIRA

anonimi:
The VAT on shipment that ends up outside Lagos should also be domiciled in the final location, not lagos.

VAT (Value added Tax) isn't on shipment. It is paid by companies that add value and whose revenue is over a certain threshold. Tariffs or duties is what is paid on shipment. Lagos is not paid any commission on it. Port states unlike oil states do not receive anything from what government makes on their land

You have to define your own means of determining who is poor. The definition does not align for all countries. China does not use the definition of the world bank

In Nigeria, ninety percent of adults use smart phones and recharge them
Ninety percent of over sixty year old own their own homes
Nigeria is third on Earth for sending people abroad to study. That is done out of excess and not out of poverty
Illiterate people are almost none existent at least in the city I live (Ilesa)
I have been treated free of charge in government hospitals at Ijebu jesa and Ere Ijesa. I saw professionals and I was tested and given drugs which cured me. How much would that cost in a rich country without universal healthcare or how much is it in the healthcare private sector in Europe? To see a professional alone, how much is it?

So 140 million people are not living in poverty in Nigeria. I do not have any poor people in my neighborhood too. They all have homes, trades, skills, capital and income

HOW TO MAKE PMS SELL AT 500 NAIRA.

How much is a bottle of coca cola in the USA? How much is it in Nigeria?
How much is a bottle of Guinness stout in the USA? How much is it in Nigeria? How much is a meal at a good restaurant in the USA? How much is it in Nigeria?

Then how much is a liter of PMS in the USA? Then use the ratios above to determine how much PMS per liter ought to cost in the Nigerian market and what you have will be the correct price for Nigeria under normal circumstances.

How do you achieve it?
Buy the controlling shares of the Dangote refinery off Alhaji Dangote so that a new management not anchored by debt can be making the decisions then compensate Alhaji Dangote very well. That is the only way that it can work well for everybody. It is sad to see people know the right way and still be heading in the opposite direction.

The refinery is a good business and investors from home and abroad will buy the equity if put up for sale but no serious investor will buy when the management is anchored by debt and the money raised in the IPO is billed to go towards further expansion even when many other refineries are upcoming in the country. Expansion is not the right use for the IPO money and that is quite obvious

The move by the FG to give fuel discount to transporters is also totally inadequate. CNG is already much cheaper than PMS and even Dangote trucks are using CNG and there is no discount on PMS that can put it on the same pedestal as CNG or electric vehicles which also are in the picture

lionshare:
This isn’t correct. An employee’s contract is different from a shareholder’s, whose returns are subject to the availability of profit. From a financial-engineering perspective, it’s entirely possible for a company to keep declaring losses while still making profits. Besides, if we apply your logic, most tech companies would be owing their employees.

I don't understand your tech company example. Can you explain it? Once you can't pay your employees then you are out of business. A shareholder is the owner. You are using their capital to work. They own the company they don't have a contract with the company.

deathwing:
I don't believe thata how it works. Workers are paid from operating expenses and other revenue streams...dividends are based on pure profit per share and are calculated after expenses(including salaries) are subtracted. You can pay easily workers and still be at a loss and not pay dividends. Dividends are not compulsory.

You can't pay anybody in a private company without paying the owner. A public company has owners too and it should be the same way. What makes sense is that you shouldn't be able to pay owners automatically the same amount you pay the workers but to not pay them at all would be unfair. What is automatic for public company shareholders should not be more than one third of the wage bill.
However it is a personal position and not law in any country

The idea is an upgrade of the stock exchange
Remember you being able to invest at all in the stock exchange is because of a thinker not because of people following Laid down rules.
It is already what some companies do by paying interim dividend before the main thing

ariesbull:
Na you build Lagos former capital

Yoruba founded or owned companies in the old Eastern region include but not limited to

Solewart pipes and metals ( I think the largest in Africa in its sector) PH

Sam and Sara wears PH
Custodian Investment
International breweries Onitsha etc
Notore Chemicals PH
JRB Solar Enugu
First mosque in Enugu also built by Yoruba man
Mac James
New Rivoc limited
Shoprite
Lead way
AIICO
Cloud Institute Enugu

Then there are countless smes, hotels, car dealerships law firms and etc

That is the East, if you go to Abuja, up to half of top car dealers are Yoruba. Go and verify

Can Yoruba say they developed all these places?. Possibly but not to be hammering on it. It isn't their land. They are not the ones making the policies. They are not the founders of the city. They are just helpers

Assuming ALL NIGERIANS developed Lagos as you say, what difference does it make if Nigeria divides? It does not make any difference at all.
Please kindly list those things that makes you think OTHER Nigerians should be credited for what Lagos is because in my understanding, Nigeria is an albatross on the neck of Lagos and not a blessing.

Stop hammering on the issue of Lagos being developed by ALL NIGERIANS. Such serves no purpose

mikeapollo:
''Workers'' or ''employees'' in a public company are separate from ''executive management''.
What we are discussing is salaries to workers

So you didn't even understand the point I was making? I wasn't discussing salaries of workers. Maybe you should go through my posts again. I said any company that can pay workers can also pay dividends. There is no excuse not to pay dividends when you are able to pay workers

Queengee:
Ogbomosho over Benin 😂😂😂
Joke of a data

Akure is over Ogbomosho. The data is not correct

tollyboy5:
Ameachi and wike are good examples of total failure.
Ibadan has many advantages that would make it difficult for Aba to beat.
Proximity to Lagos, population and revenue generated there.

The main thing is population. I believe Aba, Onitsha, Owerri and Enugu are each about half of Ibadan presently

TOPIC- CENTRAL BANKS, QUANTITATIVE EASING AND INTEREST RATES

NAME- LAWANSON, Akinwumi John

DATE- October 8 2026.

ABSTRACT

Central banks are at the epicenter of monetary policy making and the purpose of the work is to offer a layman's explanation of how central banking works.

INTRODUCTION

I am grateful for the opportunity to write that I have as a result of a USA led four member consortium of nations that took it upon themselves to protect and sponsor me. The protection being an all out effort while the financial sponsorship is by proxy. I have not had stable personal income since 2012, only an off and on income but I get funds from my sisters who could have been blocked easily by my adversaries here in Nigeria who are big men as my sisters are just ordinary Nigerians but they have not been blocked courtesy the USA led four member consortium of nations. The USA, Russia, China and India.

If therefore you find anything I write useful, the people to be grateful to are the people that kept me alive led by the US government. The owner of the initiative is the late President George Herbert Walker Bush of the USA.

LITERATURE REVIEW

Central banks are recognized to be the lifewire of the monetary policy of any country and what they do is clear at least to those that man them and to those that give them directives if not to the generality of the masses or those who use their product ie fiat currency.

METHODOLOGY

The idea to articulate to the public my understanding of the workings of a typical central bank was borne out of the situation in Nigeria where one administration did quantitative easing but the one that succeeded it in 2023 is being blamed for devaluing the currency.

I then saw it as urgent to output something about the operations of central banks that any lay person can relate with.

RESULTS

1. A definition of central banking
2. What are the steps leading to currency devaluation and how is a new value arrived at?
3. What are the effects of devaluation?
4. Way out for ordinary people

DISCUSSION

Definition of central banking

The main purpose of a central bank is to issue legal tender or fiat currency for use within its territory or by anyone that elects to use it. The other purpose is to coordinate commercial banks so that the deposits of their customers will be secure. They do this by asking them to deposit a certain amount with the NDIC (Nigerian Deposit Insurance Corporation) in the case of Nigeria to qualify to be able to offer certain categories of banking services. The more profitable services are licensed to the banks with more deposit. Therefore commercial banks raise capital on the NGX to be able to pay the deposit that qualify them.

What steps lead to currency devaluation and how is a new value of a currency arrived at?

The total volume of any currency in circulation is always published just like the outstanding shares of a limited liability company or rather it is supposed to be published. If not published then an illegality is going on.
The currency in circulation is the stock that the central bank of a country is in charge of.

The total volume in circulation is known to the big players who deal in that currency and they are watching the central bank closely. China, Japan, Germany, US investors and etc that hold dollar debts are watching closely the US Federal reserve and etc.

In a place like Nigeria, let us say the total stock of the central bank meaning the total currency in circulation is five trillion naira. The biggest people watching the central bank should be the pension fund managers that have borrowed the federal government trillions of naira in workers' savings.

If the total naira in circulation were five trillion naira and it is trading at 200 naira to one dollar and the federal government of Nigeria decides to print twenty five trillion naira or in the normal parlance borrow twenty five trillion naira from the central bank, then the volume of the naira in circulation would have increased by five hundred percent. People bringing dollars into the country on hearing the news will therefore add five hundred percent to the value of naira they will ask for in exchange for one dollar and leave market forces to handle the rest. It means they will start asking for 200+1000 naira in exchange for one dollar. They will start asking for 1200 naira for one dollar and rightly so. Even if the central bank governor can deceive the local people, he or she will not be able to deceive the big players bringing in the big money.
The interest on the CBN loan will ultimately go to the FG since the CBN is owned by the federal government.
That is the fundamentals and any other factor would be tangential in effect.

What will be the effect?

Commercial banking will face the potential of coming to a standstill as savings become worthless. Debtors will potentially repay all their loans as a result of more money in circulation. A debt of two hundred naira will be repaid five times more easily. Savers will realize that the two hundred naira in their account can now do the work of just around thirty five naira and they will withdraw all in order to meet their expenses.

For the commercial banks to be able to continue operations as brokers between lenders and borrowers, they may need to double the fixed deposit interest rate for deposits, at least temporarily before the dust settles and everything returns to normal but in a country with a very low tax to GDP ratio, there is never a returning to normal as quantitative easing is a main source of government revenue. A country with a huge debt in the local currency will also be in somewhat the same position even if it has a substantial tax to GDP ratio. I mean it will tend to want to print money. If all debts are in a foreign currency, the government may be motivated to fight for the local currency especially if the tax to GDP ratio is already high enough.

The way out for ordinary people

Deal less in cash. Avoid cash as much as possible. Deal in real assets and not cash which is liquid asset. Whatever you have acquired already including equity, real estate, equipments, clothes and etc will see it's value go up automatically whenever the currency is devalued.
If you are a trader, use bank guarantees and etc to trade as much as possible so that a single central bank movement will not wipe out the liquid asset in your bank balance at any time.

CONCLUSION

In conclusion the value of a fiat currency is determined in the main by the volume of it in circulation. If you increase the volume by 100 percent, the currency will be priced down by fifty percent by onlookers.

References

Central banking

https://www.investopedia.com/articles/03/050703.asp

Everything produced in Lagos is Lagos GDP and the VAT belongs to Lagos.

If you collect VAT and produce tax in your state of ten million people then the total will be around half of Lagos VAT. Lagos does not have advantage in the agricultural sector

mikeapollo:
If we are all willing to learn, we can educate ourselves:.

Most private companies don't pay ANYTHING as dividend, because they are mostly owned by a few individuals (usually less than 10) or 2, 3 or 4 family members or friends.
What their directors/shareholders usually do is to make drawings for some expenses.

The pressure to pay dividends is only loud in public companies because the shareholders are many and they make noise about it.

Yes but my point is that the right way in my opinion to run a public company is to set dividends apart each time you pay salaries. It does not have to be much but set something apart. It is not law yet but to me it is the right way forward

mikeapollo:
Where did you get this ''theory'' or ''logic'' from.
Shareholders are meant to share in profits, when the company makes profit at end of the financial year.
Workers are to work daily, weekly, monthly so the company can operate and make profits.

Do you want or expect the workers to work without receiving salaries until end of the year when the company declares profit?

I tire for this oo

Can you set up a private company and pay workers without paying shareholders? No no matter how small you will pay the share holders. Therefore for as long as the rule is not applied to public companies then the stock exchange isn't yet optimal at least not as much as private companies

ghm:
Oando is working hard — for its lenders, not its shareholders.

Think about it: staff show up, operate the business, and generate revenue. That revenue pays salaries. Fine. It pays suppliers. Fine. Then it pays ₦167.6bn in interest — which is more than the entire gross profit of ₦101.2bn.

By the time everyone else is paid, there is nothing left for the people who actually own the company.

This isn't about management being "unfeeling." It's about a balance sheet so deep underwater that the debt eats everything the staff produce.

Staff are not the problem. Lenders are not the problem. The problem is ₦2.7 trillion in debt sitting on negative equity of ₦530 billion.

You cannot pay dividends from a negative balance sheet. You can only fix the capital structure — or watch shareholders remain last in line forever.

That's the real Oando story.

If you make a law today to say so long they are in business then they must pay dividends then they will comply, it may or may not involve them selling part of the debt but they will comply

Agbalowomeri:
You are the owner of the company. You don't want to pay your workers even if you are in debt? Shareholders na wetin remain and if e no remain you go home

There is no company that can not pay share holders but can pay workers. No such company

presiade:
While your line of reasoning is fair and highly logical, globally, shareholders are always the bearer of the brunt in a company if the company kaputs. On the one hand, general employees have a binding service-for-pay contract with their employer, so paying them is mandatory. On the other hand, shareholders know the risks involved in putting their monies into the company’s business.

What could be tweaked is the directors’ remuneration. No profit (dividends for investors), no or a bear-minimum bumper pay for the company’s directors, including the CEO.

IF A COMPANY COLLAPSES WE WILL KNOW IT HAS COLLAPSED AND THE SHAREHOLDERS WILL BEAR THE BRUNT BUT WHEN IT HAS NOT YET COLLAPSED THEN IT WOULDN'T BE FAIR TO PAY WORKERS WITHOUT PAYING THE SHAREHOLDERS

VAT paid by financial sector is negligible because it is paid on a minute part of their revenue. I believe one brewery will pay more VAT than all banks put together.

Convert the population in your state to revenue and you will get revenue that is up to the ratio of your population to Lagos.

You have advantages that Lagos do not have especially in agric which you just need to convert.

If you are ten million people in your state then with proper organisation you will be able to make around half of whatever Lagos is making