₦airaland Forum

Imagine going on strike over a verbal agreement from 2008 (With Yaradua&GEJ).
ASUU is jobless. They just don’t want some holiday and don’t feel like working.

Na wah for bloggers sha. Just looking to sell news.
Nowhere in the article did world bank say the headline.

Very good.
So now Otedola has clarified that he did not benefit from the petrol subsidy. Diesel was not subsidized though.

Very soon Kenya will ban all Nigerians and we will blame the President.
They will say the president lacks diplomatic experience and that Kenyans are racist to fellow black people.

jonnysessy:
Please can anyone tell me why Fidelity bank fell like a pack of cards today. Lost maximum 10% today (i didn't see this coming).I am suspecting difficulties in meeting this recapitalization exercise. If they can't do it alone, it is better to merge with bank on the same cadre or better still jettison the international license. But, if it allow itself to be acquired it will be a different story. It is better to make hay when the sun shines. If they leave it for last minute they will just enter any agreement anyhow. ( My layman understanding )

I think they have forbearance issues too.

Personally, I don't like unions.
They do nothing for the masses but only protect the interests of their few members.
An example is that they are the ones that forced Yar'adua to reverse the sale of the local refineries so that their members continue receiving free salaries without work. If not for them, we'd have working refineries since 2008.

Anyways, they will test this in court. It is good for our legal system. Workers have a right to join unions, but employers also have a right to determine who to hire or not.

Ginalex:
My question is this
1. The cost of fund for taking the asset backed loan will be at least 27%. Is it cheaper paying finance cost compared to capital gains tax?

2. I want to believe taking a loan is most times not for spending. Most times it is to acquire income generating assets. Will you keep holding the asset for the sake of capital appreciation and capital gains tax avoidance? Only to be okay paying finance cost on the loan? Please explain how you'll be better off

Like you, I find the suggestion of taking loans to avoid tax confusing especially in the Nigerian context.
But it's clear to me when I think of developed countries like UK, US.
Imagine taking a loan of 4% and then putting that in S&P 500 which has grown 11% for past 10 years.

Wealthy people never pay off their loans, they just keep accumulating more loans for their daily expenses at say 4% and use their equity/shares as collateral.
Essentially, your debt grows 4%, while your wealth grows 11%. Best part is you pay zero taxes since loan is not taxable.

mikeapollo:
He said Lafarge has been repatriating money from Nigeria to France for over 60 years. So telll me how that was possible if Lafarge came into Nigeria 25 years ago.
It is better he says Lafarge has been repatriating money since they came into Nigeria 25 years ago, not 60years. That is my point

Bro, this is not about Lafarge but the entity. Lafarge is just a name of the entity at a particular point. It has been Wapco.
Even now, it can be changed to Huaxin if the new owners like.
The point here is that, that entity has been in Nigeria for over 60 years and has repatriated money out of Nigeria for most of those years before deciding to have boots on ground.

SmartPolician:
Calling what Tinubu does revenue drive is being modest. He's just taxing Nigerians up and down.

Lol…how much more tax have you paid?
Most ppl shouting tax have not paid 1 naira.

In simple words, the Japanese do not want Nigerians to come to their country. No white-washing needed.

ositadima1:
You’re trying to sound smart, but your arguments don’t hold up under closer scrutiny. Yes, inflation measures the rate of change in the cost of goods and services, not how far prices have already risen. The problem is that ordinary people feel the compounded effect. Telling them that the rate of increase has slowed down means nothing to someone now paying twice—or even three times—for the same plate of food they bought less than two years ago.

What truly matters to the average person is the compounded inflation over the past two years. Tinubu’s policies drove inflation up astronomically (I’m convinced it was much higher than the 27% reported last year), and now the government is claiming success simply because the pace of increase has slowed. That’s like a doctor taking credit for a patient’s recovery from symptoms caused by the very medication they prescribed in the first place.

Once again, the compounded inflation since Tinubu’s administration began is massive—if not the highest in Nigeria’s history.

You needlessly bring Tinubu’s name into an objective conversation about inflation.
What is true is that prices rose significantly in 2023 before & when he took over. However, prices in 2025 are not increasing as much compared against 2024 (which is what inflation is calculating).
Have prices come down to 2022 levels? No.
But has inflation (rate of increase) reduced? Yes, simple.
There are people who believe the NBS data may be overstated and that our actual inflation should be much lower (like Pakistan has 3% now due to same base effect from 2023)…

tpain121:
No o. It should be 1% .
15-18 percent is still too high.

Have you been to the market today? Items have reduced drastically.

Inflation reduction does not mean price has reduced (drastically or not). Put emotions aside, no one is talking politics here.

Streetinvestor2:
U can't be serious. If u are into business .You won't be saying this just u want to support failed government. Alot in the building/construction businesses have done above it.Do u have a car that goes for maintenance/services. You will notice vehicle parts have done above that too.How about data and phcn bills. Then price of school books .Try the price of drugs and lab tests

You see how I did not insult or accuse you of any political leaning.
Come out with data not mere words, simple.
I bought cement in 2023 for 9k -12.5k naira, how much is it now. Compute the inflation as a percentage Y-O-Y.
Inflation number is a weighted average. For every construction materials that have gone up, a crate of eggs, rice price etc has come down (and food weighs more in the inflation basket)

Educationalserv:
Lagos Abuja flight was 55k last year now 105k rents are 40 percent higher school fees .

Not true and this is why many of us believe you guys are emotional, and not looking at data.
I flew the route last year for 126k naira. Infact, the Lagos-Abuja airfare is one of the data point the bureau of statistics uses in arriving at inflation numbers.
Here's a link to the data over the last year:
https://microdata.nigerianstat.gov.ng/index.php/catalog/161

China knows religion is a killer to productivity.
Like a virus, It takes control of the mind and then controls the body and where it goes.

tpain121:
Paper analysis.
We heard more of this during Buhari’s tenor.

There are no reforms anywhere.

While inflation is reducing on paper, market realities says otherwise.

All they do is propaganda and lies like you are pushing out here.

Anybody that believes this rubbish you posted or thinks that this government is doing anything to better the lot of the masses is on a long thing.

Can you tell us things you bought last year that the prices have increased by way more than 20%?
I was looking at the numbers, the inflation rates numbers should actually be way less. Fuel has reduced Y-O-Y, cement, rice, even the currency/$.…none has increased in price Y-O-Y. Most reduced.

Less than last year’s profit after tax. Should do better next year.

ppogba:
Na real juju my brother.
I nearly die of laughter when I saw the post yesterday.
Reminds me of one Oga who had a visitor in his office. He called his assistant and requested for a TIPEX, the correction fluid. After several minutes of waiting for the TIPEX, Oga called his assistant again and asked what the problem was. Na so assistant talk say, " water never boil'". Oga asked, water for what? Assistant say, water for tea!
He taught Oga asked him to prepare tea .

If you waka for office , you go see orisirisi.

Communication 101. Clarity is a MUST.

Quite interesting that both Guinness and Guinea Insurance pumped today. Sboga is in luck.

Mpeace:
Let's see what GTCO pays. The should do better.
I no trust Access but they may surprise us.
But forget the poor dividend, the fact that they are able to pay dividends shows they might have met and resolved the CBN forbearance issue.

Have they really?
For UBA, their total forbearance liability was around 771B. Seems they only took half the hit yet. Another half year to go.
Zenith specifically mentioned it in their report that they have exited forbearance but I can't see any mention of it in UBA's report.

"On June 14 2025, the Central Bank of Nigeria (CBN) issued a Circular directing Banks to suspend payment of dividend to shareholders, bonuses to Directors and investment in foreign subsidiaries until full and independently verified exit of loans granted under regulatory forbearance. Accordingly, Zenith Bank took a bold move to fully exit the loans granted under the CBN regulatory forbearance. "

yMcy56:
This one pass manage in my opinion.
From 0.30k, to 0.50k.....then to N1.25k
I think Zenith has tried.
Na interim ooo, no be final.
Make some people dey get contentment sometimes.
At least, now we know that the payment of interim is sure by ugaz....

Quite interesting. So now Access likely pays 1 naira while Zenith pays 1.25 naira in interim.
Yet, Zenith is priced almost 2.5X of Access.
BTW, Zenith's profit is down 13.95% YoY compared to H1 2024, but is paying out 25% more.

Updated:
Zenith wrote down over 700Bn in impairment....I see.

I know someone who received money from the government payout.

But can government make the payout transparent…..can’t we publish names or something. Would that be violating privacy laws?

Streetinvestor2:
So Dangote success story now is Tinubu doing. Thank God social media does not hide.Was it not in this country that when Tinubu started. He started fighting alhaji via proxy.Alhaji was all over media shouting and even accused them of bringing fake products from Malta and accusing fingers on oando.NNpc under kyari wanted to make sure the refinery fails.They whr bent on importing as Tinubu was the petroleum minister

You lots wrote up a fake story about Tinubu fighting Dangote and believed your own lies.
Was it not Hundeyin that said the refinery project is a scam and conduit for embezzlement?
Who initiated the free trade zone in Lagos? who implemented Naira for crude? Who is building road in Ibeju to allow easy evacuation of products? He also allows business men have direct access to him.
Y'all believe your own one-sided stories....

reezee:
Don't you think government policies are the reasons why Dangote is able to have significant impact on the economy? I believe the aim of every government should be creating an enabling environment for businesses to thrive. Even Dangote always acknowledge the influence of the government in making it easy for his businesses to thrive. We can blame them for many things, but deregulation has ensured that there's healthy competition in the market.

Don't mind them. Dangote refinery coming to life is because Tinubu set enabling policies.
If dollar peg was still there and Dangote needed to lobby CBN and wait for weeks before he gets USD to buy crude oil, won't the refinery have collapsed?
Good govt. policies have a way of smoothening out business that you will think success has nothing to do with the government.

NUPENG does not care about Nigerians, only about the tanker loading fees &monthly dues they collect from their registered members.
Where were they in all our years of fuel scarcity?

Summary:
This is a case of money stolen by a Nigerian leader and used to buy a property in the UK (In 1993).
He used a fake name and identity to buy the property. Now that he is dead and the actual owner of the property is a fake name...His people are trying to also use fake names to take over the property.
But the UK govt is now aware of the identity fraud on the property and is keenly looking.

Both statements he made are correct when viewed from a certain perspective.
On corruption, it’s obvious this administration is not stealing money and hiding in foreign banks like what was obtainable just some years ago. All the ministers (FFK, Bagudu, Ribadu etc) are working very hard.

2. The actual unsubsidised rate when Tinubu took office was 1900. He had barely spent 3 months when the rates went that bad as a result of Emefiele-Buhari era printing of 25 trillion. The inflation showed up when Tinubu took office but the cause was done before.

megawealth01:
Na exchange rate be the ish now

JAGABAN should bring it down to 500/$

With over 100 trillion in circulation (mostly due to Meffy era printing)….a reduction in rates from 1500 to 500 will destroy the economy.
It’s simply unaffordable for the CBN. I will move my naira into dollars immediately and many others will do the same.
That’s over 400% gain for someone who got into naira at 1750/$.

RayRay06677:
They don't have such rights, it's against the Nigerian law.

Union must exist, the worker can decide not to join but you must have unions

Yes, unions can exist.
1. It can be another union, not NUPENG
2. Don’t employers have the right to not employ any worker who joins NUPENG (they don’t need to say they are firing for this)

NUPENG to me seems like a fraudulent union only interested in its dues and protecting its own interests. In fact, I hate unions cos they don’t serve the public interest, only the interests of their members.

mikeapollo:
These things would most likely push more activity into the informal sector. Many more people would avoid using banks and could channel their funds through other means. How does it make sense that a 70 year old grandma/papa who is not working nor receiving salaries must have tax ID to open a bank account? What is the need for tax ID when already there is NIN and BVN?
The clueless, arrogant govt. will surely leave because there is always a tenure limit, whether 4 years or 8 years.

Omo na wah for you o. The govt has already said no need for TIN if you have NIN.
Your NIN also serves as your Tax ID in 🇳🇬. This takes effect from January.
Your existing TIN remains valid. If you already have one, you do not need to register again. For those without a TIN, you will need your NIN (individuals)

nairalanda1:
Has nothing to do with cabals or sabotage. It's all about a worker's right to join a union

Lol…an employer also has rights not to employ a worker that joins unions.

Nigeria exempts churches (and mosques) from paying taxes.
So this man may end up paying nothing.

Mpeace:
I just saw this topic on the front page.
Yet they advised us to remove fuel xupsidi.
That it's the only way we can survive. Now we pay more than fuel subsidi itself

https://www.nairaland.com/8516514/united-states-spends-31-bilion

You cannot just see headline and make blanket deductions from it. Subsidy to encourage local oil production is not same as subsidy to encourage consumption of an imported commodity.
By the way, what you call the "US subsidy" is even a reduction in the royalty the oil producing companies pay if they produce more, not like the govt is spending out of pocket.