₦airaland Forum

Agbalowomeri:
Na you dey admire married woman

I fear you, walahi!

Agbalowomeri:
No carry bottom play reach her side

I no talk anything like that ooo
Don't push words into my mouth!

Agbalowomeri:
Ahh na married woman o. No go there

I am not saying married or no married. Don't push words in my mouth!

I say you responded only when a lady posted.
You ignored all the men because our ''voice'' is not nice to your ''ears''!

The FG does not need to hae meetings and meetings with Dangote for price reducing.

There should be an agreed pricing template that guides the margins, markups that Dangote can put on his petroleum products based on the supply of crude to him in naira.

Agbalowomeri:
He is on vacation in Cape Verde

You only responded and answered when a beautiful lady posted!
This man!

ololufemi:
My Chief, majority of the present Lagos State was under the governance of the Western Region. Places like Ikeja especially the industrial area, Agege, Ilupeju and its Industrial Industrial area, Oshodi and its Industrial area, Badagry and part of the Ijebu Province consisting of Epe, Ikorodu and Ibeju Lekki.

These areas were ceded from the Western Region to allow them merge with the Federal Capital Territory area of Surulere, Yaba, some parts of Apapa, Lagos Island, Ikoyi, and Victoria Island to create the present Lagos State.

This is one of the reasons why many of the personel in Lagos State are usually Ijebus. Even the present governor is an Ijebu man and his predecessor was acclaimed to be from Epe.

Even at that, how many roads, bridges, sea ports, airport etc. did the Western govt build in Lagos? The Western govt was more involved at Ibadan.
It was the Central govt that built the big infrastructure in Lagos, and most of the funds came from other regions or parts of the country. It was not IGR money from Lagos that was used to develop Lagos.

lawani:
Lagos island was not part of the west is what is correct. Lagos state was never the capital of Nigeria, Lagos island was and Lagos island is less than five percent of Lagos state. Lagos State was created in 1967 by merging Lagos island with a chunk of western Nigeria. I hope you get it now.

If I did not show you with evidence that western Nigeria was far ahead of the rest of Nigeria fiscally as early as1960, you wouldn't stop saying it is the money of Nigeria that saved Lagos and by extension western Nigeria.

Stop confusing the topic. It is not about Western Nigeria or South West!
It is about Lagos! Period!

HesInMe:
I'm not even sure what you're trying to achieve. The case against BAT is clear: He's the incumbent at a time of deep economic pain shared by most people resulting from his policies, and he hasn't fixed structural problems like electricity and corruption to ease the burden.

If you're an Obi supporter, focusing on banal ethnic rivalry just detracts from the case he should be prosecuting is unhelpful.

A very big disappointment! I expected much better from you.
I reason above and beyond pedestrian partisan interests.
Whoever will win the election is not my business.
Anyone of them can win; it is for Nigerians to decide. My only issue is good governance after anyone of them wins the election.

In Nigeria of today, ANYONE, ANYBODY can win election if he knows his ways and plays the game well because the people are generally ignorant, divided, hungry and not ready to change or liberate themselves.

lawani:
How old is the person responding to me and calling me ignorant?
If Lagos was not part of the west, it worsens your position because it would mean the 55 million pounds was not gotten from Lagos. However over 95 percent of the present Lagos was part of the region from where the 55 million pounds revenue was gotten while the remainder was the FCT. Lagos state today can be said to be western region by over 95 percent along with the whole of today's Delta and Edo states.

Lagos was not part of Western Nigeria.
Western Nigeria at the time included Delta and Edo (old Bendel), Ekiti, Ondo, Osun, Oyo. So resources from these places (Cocoa, Palm fruits,, etc) SE, North etc. were contributed to the Central Govt. part of which was used to finance the development of Lagos.

Same way Abuja is being developed today

It just baffles me how one could use budget of 55m pounds in a single year as basis for this kind of discussion or topic

1kinggy:
His investment there now makes more sense.

The guy knew what was coming, and made the move to Seplat. I guess he still wants to be in the limelight calling the shots

lawani:
Go and check urban agglomeration for that era for an answer to your question. What is the use of an economy whose government is without revenue? Yes there was economy in Nigeria but no organization to turn it into government revenue. How far away is 1950 from 1960?. In 1960, the western region had a budget of 55 million pounds, the North had seven million pounds and the East had twelve million. That is all you need to know about who financed Nigeria in the 1950s

Please cure some of this ignorance.
Lagos was not even part of SW.
Learn this and hold your peace.

Oasisblue:
Exactly. You can smell the derision and unwilligness to accept any superior arguments or facts across the keyboard. Lagos became wealthy because of geography, trade, and political decisions, not because of natural resources. This is actually a common pattern among many of the world's great port cities.

But I dont expect this information to resonate. You can only wake someone truly sleeping, you cant wake one pretending to be asleep.

Those politiical decisions were decisions made by the Central govt because Lagos was FEDERAL CAPITAL.
And national resources were mobilized and used to support and actualize those decisions, not IGR from SW or State govt.
Lagos was Federal Capital Territory with special budget allocation to it from the Central govt. That is what was used to develop Lagos.

HesInMe:
It was a port. Ports tend to have the advantage of major trades passing through them -- and the attendant commerce that results.

Honestly, people, the tone of these debates is unhelpful, especially given the focus of this thread. No matter who wins, it's the policies that matter to us investors.

And was the Lagos landscape with infrastructure like roads, railway, bridges etc. built and developed with money from the so-called ''port' (canoe-port) of pre-independence era?

Because any serious seaport must have been built by a central govt with national funds

We need to educate ourselves.
Ignorance and arrogance in ignorance are some of the reasons we fail in the things we do, and also make loud noises.
It is not to win, but to educate or learn.

Oasisblue:
Lol. So its only natural resources that makes a place wealthy? Una never hear of service economy before? Why do you think places that are traditional trading routes are historically (and contemporarily) wealthy?

Which 'services industry'' in Lagos before 1950s? ''Bole k'aja'' transport services or what?
Provide specific answers instead of just asking rhetoric or abstract questions that you cannot even answer yourself.

The whole of Nigeria was dependent on export of mineral or crop resources at the time (groundnut, cocoa, tin, timber, palm kernel, cotton etc.), so tell me what was different about Lagos at the time.

megawealth01:
https://www.facebook.com/share/v/1Dg4as9Yqk/

Make I no laugh oooooo. A whole aso rock

Wetin happen?
I cannot open facebook on my system

megawealth01:
Besides Nnamdi Azikiwe who lived one nigeria, is there any Nigerian known to be truly nationalistic?

But at least, do unto others, how you want to be treated.
Live and let live.

megawealth01:
You like wahala

Nigerians like ethnic hypocrisy too much: No wonder nationalistic patriotism is far from us.

Jaakay:
So you know book small and you are disturbing us with politricks. Sha take small thank you.

I pray you shall not experience unnecessary headache on top of BAT vs Obi vs Atiku matter.
That is a secret you must learn..... the secret about how to live in peace with things that you cannot change.
And live long to enjoy the money you make here in NGX and spend alone, selfishly!

Oasisblue:
Lol. Long before the discovery of crude oil in commercial quantities at Oloibiri in 1956, Lagos was already one of West Africa's most important commercial centers. Its economic importance developed over several centuries. Admit it or not, Nigeria took more from Lagos than it gave to it.

But you have not mentioned one single mineral resource from Lagos that was exploited and/or exported to generate the revenue that was used to build all the infrastructure in Lagos.
We all know what each region was producing in the colonial times.

flexgee:

https://www.youtube.com/watch?v=r2NJ4ag7e2w?si=5T4SRfFeiuRkXZ8k



Veteran Actor Hanks Anuku Spotted Again After Telling Nigerians to Mind Their Business

Veteran Nollywood actor Hanks Anuku has been spotted in public once again, days after his candid message urging Nigerians to mind their own business sparked widespread reactions online. His latest appearance has reignited conversations among fans, with many sharing mixed opinions while others expressed delight to see the beloved screen legend looking well. Watch the video and tell us—what are your thoughts on Hanks Anuku's recent public appearance?

Reminds me of Majek Fashek.
Drugs destroy!
I pity that boy called Wizkid!

lawani:
And I am explaining to you that Nigeria didn't give to Lagos but took from Lagos without giving back. Maybe you wanted to say Abuja or some other Nigerian cities established and built from the scratch by the British. Value everything built by the FG in Lagos that is not for income and see if it is up to half of what was built in the SE that is of a lesser population. I hope you now see the point. Talk about the places that took far more from the FG than Lagos despite having a much lower population

I have to mention the SE as that is where Nigeria's money is being sunk into while many are mentioning Lagos

Apologies, I don't think we both can flow at commensurate levels on this topic.
I don't know when you started learning about the antecedents and history of Lagos, and your appreciation of facts.

Jaakay:
In other news, while blocking those that want to derail the thread with politics, who can explain story around treasury shares. I noticed a reduction of oando shares by almost 4M.

Treasury shares means when a company withdraws or warehouses its own previously issued shares.

In Oando's case, a shareholder owing the company could not pay back; decided to give up his shares in full settlement of the debt.
Total number of shares is 4.279 billion units.
Management has decided to redistribute to shareholders pro-rata.
The value of these shares is about N457billion;

In Oando's AFS (Pages 23, 80, 81):
a. Treasury Shares (shares not yet redistributed); N379b
b. Capital Distribution Reserve (shares already distributed) N78b
......making a total of N457b already debited to Equity; making Equity to show a negative N566b.

In other words, the actual negative equity would have been about N109b (i.e. excluding the Treasury shares/Capital distribution reserves).

The shares have been valued at more than N105 per share, going by my rough estimates, if I am not mistaken.

lawani:
The west had revenue in 1960 that was three times the rest of the country put together and it did not include the FCT Try to put that into consideration and therefore stop isolating Lagos from the west. It is a delusion of grandeur to think the SE rank equal to the SW.

The FG did not spend on the present Lagos state up to what it took from it. Isn't that obvious? Why should the SE with lesser population take anything more than Lagos state? But it takes more than three times

The SW is second only to the SS in oil production and it is worth stating and you can't blame western Nigeria or Lagos for the descent of Nigeria into the decades long dependence on oil money even if the oil money was used to develop Lagos state which it was not. Lagos is like Benin republic. If it were a country, it's ports revenue would go a long way in supporting it and that ports revenue is seized in its entirety by the FG along with most of it's oil revenue

I am not interested in the SW vs SE debate. I am only stating facts and being objective.
The nation gave a lot to Lagos to build it up. Lagos should also give back to the nation. That is my point.

When a whole family sponsors you from childhood to become a graduate with a very good job in New York, you need to look back and help other struggling members of the family as much as you can.! That is how to build a family (or nation). You don't need to be told or reminded if you really know who you are! That is Lagos (graduate) and Nigeria (family)!

Oasisblue:
Dont want to be drawn into the ethnic/political thing, but you are wrong. Lagos has been a thriving commercial center long b4 the discovery of crude oil in Nigeria. Abuja was built by oil money not Lagos.

Oil was discovered in 1950s!
So tell me if it was the commercial buyers/sellers or the IGR from the markets that built the major roads, bridges, seaports, railways, etc. and also made the embassies to situate their offices in Lagos.
Conscience does not argue with the inner truth!

lawani:
No it didn't start today. In 1960 the west had a budget of 55 million pounds the East had 12:million pounds and the North had 7 million pounds yet the west agreed that the combination of the west and the east should have the same representation at the center as the North. That was a wrong step.

The oil today is only 25 percent of federal revenue and it is still dropping and part of the oil comes from Yoruba land as well. A good part of it. The Lagos you mention is around 80 percent Yoruba and it is the people living inside a state that pay tax in the state. Lagos today contains close to forty percent of the SW population

Before Tinubu Nigeria was depending on oil. Before the military Nigeria was not depending on oil. I hope you are not blaming Lagos for the descent into the depending on free money?

President Jonathan gave less than five percent of his personal appointments to the Yoruba and that was worse than whatever the current President is doing.

However it can not be justified in any way to give less than three times whatever is given to the SE to the SW because the heads on the shoulders of the people in the SW are not one third heads. They are full heads. 55 million people is not equal to 19 million people

Enugu, Abuja, Jos, PH, Anambra etc were developed with national funds more than Lagos if you check the number of federal government properties in them that is not for profit.

Which Yoruba state produces oil in meaningful commercial quantity today?

All I can see from your post is lack of understanding in the topic!
Lagos was developed by FG using oil money from south-south. Fact!,
Being the federal capital for many years, the FGN built all the big roads, bridges, sea ports, airport, railways etc. which attracted many companies to situate their factories and head office in Lagos.. It was not the making of the SW govt or Lagos State govt.
By law, these companies have to pay taxes to the federal and state govts, and they do so from the head office. So the companies naturally have to have to pay taxes (e.g. CIT, VAT, etc.) to FGN in Lagos. They also pay their workers PAYE to the Lagos State govt.
But the actual sales and consumption that generates the taxes (e.g. VAT) might have occurred in other parts of the country. For instance, the VAT on a product that is bought and consumed in the North or East or South-south or in Akure, is paid by the company head office to the FGN in Lagos. The VAT on recharge card that somebody buys in Borno state will be paid by MTN to the FGN in Lagos because that is where MTN head office is situated. Hence such VAT is accounted for as ''generated from'' Lagos but it is misleading and not entirely true. That is one of the problems of our tax system.

In Commerce, we are taught that the presence of companies/industries attract other companies/industries. Hence, many more companies and industries became attracted to Lagos, and that is how Lagos became what it is today. The SW govt and Lagos State govt are NOT the ones that made Lagos what it is today! It is national money from oil that built and made Lagos what it is today. So the unnecessary bragging about Lagos must stop! It is shallow and myopic!
Other coastal cities like PH, Warri, Calabar, etc could also have developed and become rich like Lagos if the FGN had directed the investments there instead of Lagos.

Care4:
The power generation business in Nigeria needs a lot of overhauling to make it profitable for shareholders. And for me, I have long ago, decided to reduce my companies with TOE and FO majority stakes. You need a very long spoon to eat from the same plate with them.

Yet, these are guys that move stocks when they take over, especially FO.
Wetin we go do now?

Digitron:
That stock don do me strong thing

You go overcome

KarlTom:
BETAGLAS MTO

Offer: ₦590.00

https://doclib.ngxgroup.com/Financial_NewsDocs/47404_BETA_GLASS_PLC-BETA_GLASS_PLC_-_MANDATARY_TAKEOVER_OFFER_CORPORATE_ACTIONS_JULY_2026.pdf

Na wa oo.
I saw this Beta Glass when it was selling for about N10 many years ago.

lawani:
Well if you add VAT, CIT and customs then half of federal revenue is coming from Yoruba land and if it were a company, they would take half of the board seats and a nation should be operated like a company because that is the only fair way

Let's not argue along this line. It would not help us as a developing nation.
What do you expect the South-South that generates most of the revenue for the nation to say? The taxes that you mention come mainly from Lagos. And how was Lagos developed to become a mega city to attract investments and companies that pay the taxes? With oil money of course. Lagos was not developed with money from Lagos. It was developed with national funds!
Because of our history and socio-cultural challenges, appointments should be fairly distributed across the various zones and ethnic groups.
OBJ is a Yoruba man but his appointments were spread fairly across all the zones. Same with Yar'Dua and Jonathan. Buhari is the one that started this nepotistic appointments and Nigerians criticized him. Even his own wife criticized him. Strangely, a man that gave the impression of being a progressive in opposition is now repeating the same thing (if not worse).
These things have a way of influencing the peace, harmony, development and attractiveness of the nation to investors and even the performance of the NGX.
Let the govt do the right thing. I don't care who wins the 2027 (future) election. But I care about how a person who wins an election governs the country after the election.

Jaakay:
One of the reasons i have being part of this forum is the quality information provided as relating to the stockmarket. Today, some people have highjacked it, in the name of political discussion. Please go to the politics section. You political comments give me headache. I am here for stocks and not if tinubu or obi will win the election. This rubbish should stop.

The thing tire me ooo!
I don't understand the matter why Tinubu and Obi are always fighting sef!
Make Atiku come separate them or I will call Wike and Amaechi. Because somebody dey get headache for their fight, and it is not good at all.

Someone (a full adult) made allegations against someone (another adult), presumably the boss.
Today, the father of the person that made the allegation has been arrested by security operatives in Ogbomosho!
The poor old father that was not part of their shenanigans has been picked up, instead!
Somebody described it as ''political banditry''

Raider76:
Best thing for Oando is to go private. Then nobody will lose sleep over how and where they take the company.

With the current debt levels, going private might be more difficult than staying as a public company!
They need all the money that being public-listed can bring