₦airaland Forum

handsomebolanle:
That’s not my point sir.

PENGASSAN has members in the whole oil and gas industry. I’m saying getting that large number of skill set in general is not possible, If everyone is too withdraw from service,. The industry will become a camatose. Employers will have a full ride and wait until you see the next piper alpha incident. This will have a ripple effect on other sectors.
Dangote needs to have a table discussion but seems he wants to operate independently.

Dangote refinery should reject any attempt by the unions to hijack and dictate to his muti billion business.
The unions should focus on advising NNPC refinery management; that is where their advice and opinions have been relevant and we all know the result.

pluto09:
For me OBJ was the best, GEJ tried but he was just too soft.

You can only say OBJ was he best because the ones that came after him also messed up.
OBJ was not fantastic in anyway but the worse govts that came after him are the ones making him look like a ''hero'' sort of.

mygee2:
Please do they have app I downloaded one app and I call helpline he said they don't have app

I am not sure, I don't use them for now but I may join them soon.

If you can, try find time and visit their office(s) nearest to you.

robobo:
Quite insightful, which makes one wonder if the team responsible for the tax reform did have DEEP engagements with major market operators before enactment or they just dont care (typical Nigerian elite ways) believing they will go ahead anyways, then if it (25% CGT) breaks something (dry up the market) then they will rush and fix a band aid ( a rushed amendment through the National Assembly).

The NGX has started reacting and drying up gradually with persistent bearish runs because of this useless CGT madness.
I have never seen a govt that just wakes up all of sudden and takes decisions without proper consultations, like this govt

Abdul05:
Uncle listen,

Hamas fights over disputed land . boko haram fights against its own people.if you cannot see the difference.

You need to read before you comment..

Which land is Hamas fighting over? Jerusalem, Bethlehem, Hebron, Beersheba? Judea and Samaria?
Which land exactly?

handsomebolanle:
This means you will have a plumber doing a piping operation and a tailor sowing PPE for Nigerians.
As regards NNPC, that’s not the function of the union. Hold your government accountable to that. Let’s not digress

Is it only in Nigeria that we have oil and gas workers/experts?
Dangote can easily bring in workers from elsewhere to replace the workers that withdraw their services, under the the guidance of the few experts at post. With time, they will become experts.
Please do not over stretch this issue. If Dangote really means to sack the workers, he can do it effectively and the affected workers will be the ones to lose and regret. There are many unemployed former PENGASSAN members, foreigners that would easily take up offers to work at Dangote refinery e.g. Filipinos, Indians etc.

Agbalowomeri:
First time Tinubu no collect from your hand

He go still collect if he does not drop that crazy CGT experiment.
That thing would be a big disaster if it should be implemented.

pluto09:
Tinubu does not have power to ban the union.
It is a very powerful union and they are ready to fight dirty knowing fully well they have nothing to loose. Even abacha as a military head of state found them difficult to handle.
The earlier the issues are resolved the better for the country, hopefully the president will step in and bring a solution.

They were proscribed (banned) during the military era. They had very huge influence at the time the nation relied on the NNPC refineries at that time and they were the workers who determined whether the NNPC refineries would work or not.
But things are changing gradually with the coming on board of Dangote refinery.

mygee2:
Please I registered with Morgan and they sent me an email to send Utility bill after which they sent the email for funding of account my questions here are
1 I didn't receive any email with login details i.e password
2. The funding is it with my own personal account am I to fund or is there a Morgan account created for me that I fund with.
Tha ks Bosses

You need to ask them for the modalities:
1. You may request for details of their bank account that you can pay into, if they are the ones to trade for you after you fill and send trade mandates/instructions.
2. You can ask them the procedure if your are to fund your account and trade online by yourself using their online platform

emmanuelewumi:
At times it is as if PENGASSAN are the foot soldiers for some powerful people in government

Exactly.
It also seems they are fronting for some of the oil/gas marketers or they are actually the promoters and owners behind some or most of the oil and gas importers and marketers who are now taking a big hit due to the coming on board of Dangote refinery.

GeneralDae:
You heard the PENGASSAN spokesperson on Channels TV the other day saying Dangote refinery was built with our money because CBN gave Dangote subsidized FX as if that’s Dangote’s crime, or as if CBN didn’t also give overseas students and round trippers subsidized FX

The unions still have the mentality as if they are dealing with govt establishment., with same sense of entitlement

Agbalowomeri:
Another way to avoid this tax now is to gather your household and open account for them and use multiple accounts to trade

Clever

handsomebolanle:
Workers have the right to withdraw their services too. Do you have a problem with that?
Let Dangote go employ people to chevron, shell and servicing Company. Since he can afford to buy a truck and do free delivery.

And the company also has the right to replace workers who withdraw their services!
Let's wait and see who would lose at the end of the day in this era where unemployment is high and people are desperate for jobs.
What did the unions do or achieve with the NNPC refineries after they resisted and rejected the proposed sale to private investors by Yardua's govt?

GeneralDae:
Whatever issue they have, they should sue Dangote to an industrial court and not disrupt production.

They may not go to court because they fear they would lose because of the reasons adduced by Dangote for the retrenchment of the workers i.e. ''reorganization''.
There is no law that prevents a company from ''reorganizing'' its operations/workforce and sacking ''redundant'' employees.
The labour law does not even require that an employer must give reasons for terminating the employment of employees. It only requires that terms of the employment contract e.g. notice period, payment in lieu of notice, financial entitlements etc. must be satisfied.

awesomeJ:
And he gave very good examples:

Why don't lecturers in private universities join ASUU strikes?
Same with doctors in private hospitals.

Even though in most cases it's same individuals that work in both the public and private universities/hospitals.

If ASUU members wouldn't try nonsense on private universities, why is it okay for pengassan to be acting up?

If it's that easy, they should employ the 800 workers themselves na.

And their president was trying to downplay the impact of the refinery claiming that the investment is less than 5% of what Shell and Total have made.

Why didn't he go to Shell and Total to crash PMS price from 1100 to 840?

Abi Shell and Total send him?

In another silly argument, he claims there won't be fuel scarcity, because there's enough reserves at Dangote refinery.

How useless is that thinking? That the same refinery you're trying to sabotage us the only entity you're counting on to provide fuel reserves for you and the entire country

I agree that they should really be dissolved.

I don't see their utility.

For me, it is too early for the unions to try to hijack and suffocate Dangote refinery at this early stage of its operations.
The refinery is not just a private entity, it is now of strategic economic importance to Nigeria and Nigerians.

SonofElElyonRet:
Tinubu's tax Czar says even prostitutes have to pay tax as the law covers both legal and illegal businesses

Can you beat that?
In other words, if someone offers any kind of services and he receives income from it (e.g. sale of hard drugs, touting, bunkering, smuggling etc.) he/she should pay tax and the govt would gladly collect those taxes and be happy and fulfilled. Indirectly normalizing and legitmizing unlawful activities just because they want to collect tax revenue.
That should tell you the ''reckless'' bases for some of the decisions being taken by the govt!

The desperation for revenue is the core of most of their decisions. A govt that massively devalued the national currency, and then turned around to collect 70% of forex revaluation gain of banks as tax...... a further proof that revenue mobilization is one reason for devaluing the naira

ProphetUtuocha:
And I beheld Oando, and lo, it was weighed down with burdens,
debts compassed it round about,
and the people murmured against its name.

Yet I heard a voice like the rushing of many waters, saying:
Fear not, for the flame is not quenched,
neither is the well dried up.

For though its vessels were battered of old,
and its trading brought forth sorrow,
yet from its deep reserves shall a new stream arise.

The oil within shall yet flow with abundance,
and the company that was despised
shall again be called fruitful in the gates.

Blessed are they that tarry with patience,
for their portion shall increase when others faint;
the market shall open her hand,
and Oando shall be lifted as on eagle’s wings.

Thus is the word sealed:
What was thought broken shall be restored,
and what men counted as loss
shall return as gain in its season.

Midnight revelations on Oando?

ProphetUtuocha:
And I beheld Oando, and lo, it was weighed down with burdens,
debts compassed it round about,
and the people murmured against its name.

Yet I heard a voice like the rushing of many waters, saying:
Fear not, for the flame is not quenched,
neither is the well dried up.

For though its vessels were battered of old,
and its trading brought forth sorrow,
yet from its deep reserves shall a new stream arise.

The oil within shall yet flow with abundance,
and the company that was despised
shall again be called fruitful in the gates.

Blessed are they that tarry with patience,
for their portion shall increase when others faint;
the market shall open her hand,
and Oando shall be lifted as on eagle’s wings.

Thus is the word sealed:
What was thought broken shall be restored,
and what men counted as loss
shall return as gain in its season.

Midnight revelations on Oando?

Lofty1000:
Your CHN will tell them the whole story
And if you have more than One CHN
Be prepare to file at the tax office and you will be their with your two hands at your back explaining how you get to having multiple CHN
I hope you're able to convince them
I also hope they understand and consider your explanation

Good Luck

People have several CHNs and it is neither unlawful nor criminal.
Some investors have different CHNs for different brokerage firms or stocks

Dum20:
Please what is all this nonsense?

This is an investment thread, why are you trying to derail the objectives of this group? Why not go to politics section and be doing your nonsense comparison and bullshit. Please stop all this nonsense.

This is one of the best investment threads you can ever find anywhere in the world and the success is attibuted to the fact that we are all focused here on making money not about doing praise singing for politicians.

Please got to politics section and be doing this nonsense. We do not care if Obasanjo, Buhari, Tinubu, APC, PDP or whateve is better than what.

Just leave this place

Please be careful with the tone and choice of your words. You are entitledto your opinion and others also do. No need to sound insultive and disrespectful to anyone especially because none of us is the creator of the NSEMPA thread nor Nairaland itself so we cannot command anyone

Pakute:
https://punchng.com/fg-secures-n250bn-for-light-rail-projects-in-kaduna-kano/

N250b cannot do anything meaningful as regards light rail for both Kano and Kaduna.

OBAGADAFFI:
No not one and the Same with FIRS(NRS).

I have two TINs too, they are linked to my BVN and NIN.

But one payment goes to LIRS, and the other goes to FIRS.

Ha! Which one are you paying to LIRS and which is going to FIRS?

Zionmdde:
God of miracles

Win Lesotho win Benin
Pray the SA loses to Zimbabwe with at least 2 goals
Then boom we.are in world cup


But trust Nigeria to blow the chances away

South Africa will win their home match and at least draw their away match, and garner at least 18 points.
Super Eagles may not even be able to beat Benin Republic.

jonnysessy:
Today's market is just too dull. We are almost at the end of the month and also almost at the last day of the Q3, yet there was no significant changes in the market. I was expecting reshuffling of portfolios and end of month window dressing. But, can't see any of these. Maybe, by tomorrow the market will live up to expectation.

The CGT confusion is also contributing to the dull moments in the market....until companies start releasing positive results

Mynd44:
This is false. Each leader is given exactly 5 minutes to speak. After this 5 minutes, the mic Automatically turns off as the leader is expected to end his/her speech

This is false and a lie. Trump and Netanyahu spoke for more than 5 minutes. There is no way 5 minutes would be enough for the speech by a president at the UN.

GeneralDae:
What principle? I compared 2017 to 2025 for a reason.

The principle of ''nominal'' and ''real'' numbers as two different bases for comparison in Economics.

Panadee:
The TIN will sort that out

So what happens if I have more than 1 TIN?
Don't tell me it is not possible

GeneralDae:
So why didn’t this same factor work in Buhari’s era against Jonathan. The currency also officially depreciated from 197 to over 300 as at 2017 and was almost 500 in the parallel market at that time (from 216 under Jonathan).
Also in the 8 years of Buhari up to 2023, when the official currency depreciated to 450 and the parallel market 750 (almost 3.5 times depreciation), there wasn’t a better inflow of FPI compared to what was found under Jonathan or Obasanjo.

You have to apply the same principle for all the years, for a fair and balance comparison. That is why we have ''nominal'' and ''real'' growth numbers in Economics. It is not because of any particular govt. But if we don't that, we will be making wrong analysis or comparison.

Mpeace:
How do you treat the issue of reinvestments. Each jijo round is actually a reinvestment and ought to be exempted from tax. I think aggregate in the context of the tax law means total sale from a pool.
Lets say a person with 1million units for Aradel worth 500million, decides to sell N20million units 8 times within a year his aggregate would certainly be N160million.

But another person with total holding of N20million does jijo 8 times. Each jijo is a reinvestment not necessarily an aggregate for tax purposes.

Exactly!
So after selling the shares, how would govt distinguish or identify reinvestment from withdrawal? Once the shares are sold, the units leave your NGX/CSCS portfolio and funds are warehoused with the trading broker who may reinvest(buy other shares) or transfer cash to the investor bank account
Will govt connect their IT systems to monitor when the investor reinvests (buys other shares) either through the same broker, or through the same CHN number, or when the broker transfers the proceeds of shares sold to investor's bank account?
What happens if the investor uses or transfers his shares to a different trading CHN account, different broker etc

GeneralDae:
Foreign portfolio investment percentage growth under presidents since 2007

1. Umaru Musa Yar’Adua (2007-2010): -6.22%

2. Goodluck Ebele Jonathan (2010-2015): +77.55%

3. Muhammadu Buhari (2015-2019): -8.0%

4. Muhammadu Buhari (2019-2023): -56.46%

5. Bola Ahmed Tinubu (2023-2025): +253.89%

<NGX>
#TheCableIndex

Please remember to factor-in the impact of currency devaluation.
In 2010, a foreign investor with $1,000 would be able to buy shares worth about N120,000 on NGX
In 2025, the same $1,000 will buy shares worth N1,500,000

So looking at the nominal figures and percentages alone will give deceptive and inaccurate picture.

Mpeace:
This whole CGT on shares is actually for the bigger boys.
From the attachment by Ositadima, it is clear that you have to sell share in "a company" and the total sale in that company must be over N150million with the chargeable gain over N10 million in 12 months.
Most of us wey dey do this argument no even get portfolio of over 150million not to talk of 150million shares in one(a single) Nigerian company.

But for others, it's simple sell less than 150million Naira per year.
Or if you sell over 150million Naira worth of shares in one company, reinvest in some other companies and sells the next tax year.

My guy, make no mistakes! There are guys here with portfolios worth several hundreds of millions and even billions of naira!
When you see stocks like Wema Bank or Ikeja hotels rising from .50k/70K to N20+, they are directly increasing the worth of some peoples portfolio in astronomical proportions.

unite4real:
omo, this one go cause wahala. lawyers must be involved because they might want to rob us from both front. This lazy man's approach that the govt is using for this CGT is very annoying. All i am striving to do is how to avoid it. They can hold the WTH but the rest will need careful strategy

This is executive stealing, robbery being committed by a clueless, incompetent, lazy govt using the instrumentality of the so called CGT.
Can you imagine that they say for the purpose of calculating CGT, the cost of the shares shall be the historical purchase cost no matter how many years ago (e.g. 2012), without taking into consideration inflation and currency devaluation between 2012 and 2025.
If they wanted to be fair, these are some of the options they could have adopted:
i. use the opening price on Jan 1, 2026 as assumed ''purchase cost'' of the investments
ii. adjust for inflation over the years
ii. adjust for currency devaluation over the years e.g. an investment purchased at a cost of N150,000 in 2012 (USD1,000 at exch. rate of N150:$1) should be adjusted for dollar parity and recognized at cost of N1,500,000 in 2025 (exch. rate of N1,500:$1). But they still want to maintain the historical cost of N150,000 in order to inflate the so called ''capital gain'' and collect a bigger tax sum on it.