₦airaland Forum

Mekus68:
OP u n ur ppl didnt do d calculation well. Nigeria should hv bn d first cus in Nigeria many ppl have become millionairs thro kidnapping, ritualists, corrupt government officials, boko haram leaders with stolen money frm banks n their sponsors etc

MY PEOPLE NO BE TRUE I TALK?

We are taliking of Millions in dollars, and the millions must be creating value and having multiplier effect on the economy.

manie:
Assuming each of your so-called 50,000 HNWI have just $1million, that will traslate to a combined networth of $50billion or N10 Trillion which is about the size of the capitalization of all quoted companies on the Nigerian Stock Exchange.

Imagine the milions of jobs created by companies listed on the Nigerian Stock Exchange and the Hundreds of Billions of Naira they pay as taxes.

olaide92:
so you think an average civil servant from level 13 in major govt agencies don't have a million dollars ?? if you have a standard house in a major city in Nigeria, u worth more than 50millon Naira. I do you know how many people have more than two houses? check it out. Bonny camp alone not to talk of other high brown areas all over the country

Unfortunately most of the real-estates in Nigeria are overpriced, and you also have to consider the type of returns on such real-estate. The worst rental income that can be expected from a N50 million house is minimum of N2.5 million. A house that is not generating income or creating value may not be appropriate in estimating ones networth.



http://www.investopedia.com/terms/h/hnwi.asp


INVESTOPEDIA EXPLAINS'High Net Worth Individual - HNWI'
The most commonly quoted figure for membership in the high net worth "club" is $1 million in liquid financial assets. An investor with less than $1 million but more than $100,000 is considered to be "affluent", or perhaps even "sub-HNWI". The upper end of HNWI is around $5 million, at which point the client is then referred to as "very HNWI". More than $50 million in wealth classifies a person as "ultra HNWI".



Read more: http://www.investopedia.com/terms/h/hnwi.asp#ixzz3iK9D0asg
Follow us: @Investopedia on Twitter

Sincere4u:
That shows we are in one of the most unjust societies in the world where the gap between the rich and the poor is the widest.
Nigerians ought to wake up and see the injustice they are suffering. Just over 15,000 above $1m yet among those are the world's richests. 15,000 from a pool of 170 million.

Other African countries may not have decamillionaires or billionaires like Nigeria, but the concentration of millionaires per population is higher than what we have in Nigeria.

Instead of having 1 billionaire, it is better and beneficial to the economy to have 1000 HNW with $1million or 100 HNW with $10million.

Sincere4u:
Kai Nigeria poor die, despite the oil she lags behind most African Nations.
To get the true picture, just divide the number of the HNWI by each country's population, then will you see how way behind Nigeria is.

We are behind most of the countries considering our population, but if we considering the mean of the networth of the millionaires Nigeria ought to be number one.

Youpele52:
13. Kenya — a 124% increase in the number of millionaires since 2000 has left this east African economy with more than 8,000 HNW individuals.

Considering the popuation of Kenya, I think the concentration of HNW in Kenya is higher than that of Nigeria.

olaide92:
ordinary rivers get pass 50000 dollar millionaires

Assuming each of your so-called 50,000 HNWI have just $1million, that will traslate to a combined networth of $50billion or N10 Trillion which is about the size of the capitalization of all quoted companies on the Nigerian Stock Exchange.

laurel03:
I can argue ds 9ja is the first we have millionaire home and abroad... 70% of ghana millionaires are 9ja peep... We spread all over the world

Nigeria cannot be the first, where will you put South Africa, Angola, Namibia, Kenya.

Youpele52:
6. Namibia — Despite having a population of fewer than 3 million people, Namibia hosts 3,100 HNW individuals, a 244% rise on 15 years ago.

I think Namibia is the leader if we are looking at the concentration of millionaires per population.

Namibia has 3100 people with a minimum networth $1million in a country with a population of 3 million people. Assuming Namibia has a population of 150million like Nigeria, the number HNW individuals will be 155,000.

dejai99:
The email address is invalid. Pls, double check!

It is valid, are you A O?

warpedlogician:
The real question is why a redeem pastor is married to a Muslim.

Do not be unequally yoked

Do you know if the wife was a moslem before converting to a christain and ended up being a pastor.

There are urgent vacancies for Female CRS and English Language teachers in a group of schools with branches at Mafoluku,Oshodi and Ikorodu.

Applicants should sent their CVs to The Administrator PO Box 2306 Oshodi Lagos, or manewumi@yahoo.com.

endtime1:
teachers pay tax o
I work in a private sch n they deduct tax from my monthly take home pay

Once you consume luxury goods or enjoy luxury services you are expected to pay VAT. Each time you eat at Mr Biggs, TFC, Tantalizer, Sweet Sensation, Mama Kass etc you pay VAT, if you lodge at Sheraton you also pay VAT, your also pay VAT on intereste earned on your savings.

Sunnypar:
Yes. The VAT I mentioned is not for teachers. It is meant for companies, cooperate bodies, ventures and not individuals.

And consumers of luxury goods and services.

Sunnypar:

The following monickers in no particular order should henceforth be addresses by their appellation as a result of their brilliance, members of the public should take note.


1. Xtfield - Grandpa
2. Manie - Boss
3. Dr. Avicky - Women Leader
4. Golden Dr. - Oga at the top
5. IDrock - Deputy op
6. Peybuttons - god mother alias Headmistress
7. LaurelP - Headmaster
8. Ravensckar - Visiting Professor

What are the criteria used in arriving at this.

@Sunnypar, happy birthday.

May God grant you your desires and give you what you deserve.

manie:
There lot of companies with interest in Agriculture, unfortunately most of the companies making billions of Naira as profits from Agriculture in Nigeria are owned by foreigners.
I think our farmers need to be educated and equipped on how to grow their agric-businesses from the subsistence level to real commercial level where mega bucks can be made.

This is a post by me on 30th March 2012. can be found on stockmarketnigeria


http://www.stockmarketnigeria.com/forums/off-topic/2972-feeding-great-nation-20.html


We have just two companies that are doing fine in the Agricultural sector of the Nigerian stock exchange.
And if we look at this two companies, they have substantial foreign investors.
take a look at Okomu oil, out of the 9 directors, 3 are Nigerian, 1 South African, 1 German and 5 Belgian.

About 52% of Okomu Oil Shares i.e. 249,580,000 units is owned by Intercultures S.A a foreign company, another 7% i.e. 33,117,000 units by Deg-Deutsh Investin UND. About 60% of the company is owned by foreigners.

Same can be found with Presco, they have Nigerian, South African, Belgian, French and Indian directors. The major shareholder with 60% or 600,000,000 units of shares in Presco is sa Siat nv.

The Managing Director of Okomu Oil is a South African, while that of Presco is an Indian. Does this mean that, if there are no substantial holdings by foreigners in the companies in the Agricultural sector, the companies will not be successful. What skills do they have that is lacking in us. I strongly believe that Agriculture is one of the areas that government should look into in the area of food production and food security.
How can we encourage our peasant farmers to embrace commercial agriculture, and how can those practicing commercial agriculture make it a profitable venture

mikolo80:
shiee, and na where I de Hope be dat. no wahala cooperative and partnersip de dia. even the main market na 5,5 yrs for tax and account so all na patience. all our farmers need is education from finance experts but I think I'm the only one interested in agric

There lot of companies with interest in Agriculture, unfortunately most of the companies making billions of Naira as profits from Agriculture in Nigeria are owned by foreigners.
I think our farmers need to be educated and equipped on how to grow their agric-businesses from the subsistence level to real commercial level where mega bucks can be made.

mikolo80:
my bad

5 ~small
50 ~medium
500~large

so in my view
.5~mini
.05 ~micro

500k to less than N5 million may be classified as mini/cottage businesses, while any business with less than 500k in asset may be classified as micro. I guess that was the reason for the establishment of micro-finance banks.

mikolo80:
chairman, it says limit not ceiling. get it now. means you can not raise beyond 200.you can raise 2 m or even 500 K just not 200 m and 1 naira.(if I tell you you can't speak English now you'll get annoyed and say I insulted you while the lawyers use this same English is what the capitalists use to deceive illiterates (has nothing to do with schooling)

Where will you raise N2million in the capital market, what you read in textbook is quite different from what is obtainable in the market place. If a business wants to raise N2million in the capital market, how much will the company pay to SEC, NSE, Issuing house, Stockbrokers to the offer, Lawyers to the offer, Reporting accountant.
Stock Exchange is not for such small funds my bro.

mikolo80:
my bad

5 ~small
50 ~medium
500~large

so in my view
.5~mini
.05 ~micro

The broad classification by CBN and NASME for Small and Medium Enterprise is N5million to N500million, a N500 million cannot be seen as large. What category will you put a company like Zenith that made an audited profit of N33 billion in 6 months.

mikolo80:
how many years? I dare you to answer that question. (you won't cos you're lazy mentally)

You can always get your point and message across without insults, that is an important attribute of a truly educated and an intelligent person.

mikolo80:
nope Just a fellow Nigerian who has spent last 15 yrs thinking of how to develop our country without waiting for govt.

requirements for second tier market

cac registration
name and addresses of directors (basically your family members and rep of investors)
tax returns for 3 yrs (no be naija)
audited account for 3 yrs (you suppose get Padi wen study accounting)
company valuation(amount you want to raise) less than 300 m

for 3rd tier market however
it's 2 yrs account and tax info
and 200 m limit

I don't think we have serious investment bankers in Nigeria

If 2nd tier markets have a limit of N300million and 3rd tier markets have a limit of N200, you can see that there is no provision for micro and cottage businesses on the exchange.

As a matter of fact most of the companies in the 2nd and 3rd tiers have delisted, they could not meet up with the annaul requirements of the Nigeria Stock Exchange, and just 2 of them Cutix and one other company that I cannot remember the name now that later moved to the main tier of NSE.

mikolo80:
stop lying. 500 K to 5m is small business classification so micro would be 50 K and below

Anything less than N5million are micro/cottage businesses, small and medium businesses are from N5 million to N500 million which was the classification made many years ago I guess during the time of Soludo

mikolo80:
o my lord. you don't even know q how sick exchange works yet you're arguing like say aruma oteh na your sugar mummy

it is the potential shareholders that will 'approve'so long as it's less than 300m. you better start using your net access to read more than u talk

Shareholders can approve it, who will approve the listing of an IPO or PO of N5million. The N5million is not up to the fees of the issuing house that will package the offer, or other fees that will be paid to SEC and NSE.

And for your information Aruma Oteh is no longer the DG of Securities and Exchange Commission.

mikolo80:
how many years? I dare you to answer that question. (you won't cos you're lazy mentally)

I have been investing on my own in the capital market since 1990, I became an informed investor in 1993.



https://www.nairaland.com/1233138/stock-performance-2000-2003-date

If you do cannot invest for a minimum of 10 years, then don't bother investing in the capital market.

1. Invest in fundamentally strong companies.

2.Invest in companies with good and proactive managers.

3.Invest in companies in the growth sectors of the economy.

4. Invest in companies with good brands, products and those who render excellent services.

5.Invest in market leaders.

6.Invest in companies with manageable debt profile.

7. Invest in companies which pay regular dividends.

8. Try and understand the intrinsic value of every company you invest in, and avoid buying overvalued stocks.

9.Invest in companies that have been growing their earnings in the last 3 years.

10. Finally get as much information as possible on the companies you have invested in, do not invest and go to sleep. If you have the time and means endeavour to attend the AGM of your companies.

mikolo80:
who has investments, bank or institutional investors

A professional shareholder MUST have investments in various sectors and asset classes.

mikolo80:
nope Just a fellow Nigerian who has spent last 15 yrs thinking of how to develop our country without waiting for govt.

requirements for second tier market

cac registration
name and addresses of directors (basically your family members and rep of investors)
tax returns for 3 yrs (no be naija)
audited account for 3 yrs (you suppose get Padi wen study accounting)
company valuation(amount you want to raise) less than 300 m

for 3rd tier market however
it's 2 yrs account and tax info
and 200 m limit

I don't think we have serious investment bankers in Nigeria

Unfortunately there are no 2nd tier or 3rd tier markets again. What we had now is a market where unlisted securities can be traded over the counter.

http://nasdng.com/

manie:
Ignorance is very bad.



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


Check CBN or NASME website


The Central Bank of Nigeria defines small and medium enterprises in Nigeria according to asset base and number of staff employed. The criteria are an asset base between N5 million and N500 million, and a staff strength between 10 and 100 employees

The classification of SME as businesses with assets of N5million to N500million by CBN and NASME was made when the Naira was exchanging to the dollar at less than N100.

mikolo80:
stop lying. 500 K to 5m is small business classification so micro would be 50 K and below

Ignorance is very bad.



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


Check CBN or NASME website


The Central Bank of Nigeria defines small and medium enterprises in Nigeria according to asset base and number of staff employed. The criteria are an asset base between N5 million and N500 million, and a staff strength between 10 and 100 employees

mikolo80:
stop lying. 500 K to 5m is small business classification so micro would be 50 K and below

I have heard so, who will approve funding for a N5million business on the Nigerian Stock Exchange.