₦airaland Forum

Streetinvestor2:
I disagree. He is to declare assets and liability of his tenure which was 8yrs. I don't understand this 12 yes u keep mentioning. He is to be held accountable of money that came to him within 8 yrs and what he did with it.Why do you want him to be held responsible for what didn't happen during his tenure or after his tenure. He said u should show someone he owed as a result of his governance dealings within his tenure as the governor..

The question is did he manage the money that came to him during his 8 yrs prudently or not
Can you place him wanting for the funds he received during his tenure and how it was spent.
Unlike this government that can not give account of saved money from subsidy removed.
Do you even know this government has spent trillions of naira outside approved budget which is against the constitution.

This is a false statement

He is to hand over the true financial state of affairs of the state, not just his tenure.

It is certain he did not use only the assets/capital acquired strictly during his 8-year tenure to run the state. Liabilities acquired should be likewise treated.

Such a report of only 8 years is a fraudulent accounting method

londonerr:
None. Even Equatorial Guinea whose fuel prices are a bit higher than Nigeria.... Is having a minimum wage rate of 224 dollars compared with Nigeria's 50 dollars per month

The number of mouths waiting to share from Nigeria's oil earnings is too many compared to the available funds, or compared to Equatorial Guinea.

Some Nigerians also take huge gulps, more than their fair share.

Until Nigeria grows significantly in GDP with productivity, sorry, a minimum wage bigger than that can hardly be supported

WhizdomXX:
13% is too small Sir. As he said, it's better states generate from their own resources and pay taxes to the center.

If that happens, states will lose exclusive rights to collect 100% of Personal Income tax, FG too will start collecting

Personal income tax is the largest single source of income for the USA federal government and most of the G20 countries

essentialone1:
That man's video is everywhere right now — and that ₦5,332 is what is making people angry, but that number alone doesn't tell the full story.

*Why ₦5,332 can show up:*

If he bought in 2007/2008, that was Fidelity's big public offer era. Many people paid around ₦5 - ₦8 per share. Let's say he got ∼2,500 to 4,000 shares for ₦20,000.

The market crashed in 2008/2009. Fidelity Bank that was trading around ₦13.23 in January 2008 fell to below ₦1 at some point — it touched ₦0.76 in November 2016.

If he never checked CSCS, never updated his registrar, and never took up rights issues, what the bank statement shows him might be:

1. *Only the residual shares* after corporate actions he missed
2. *Only unclaimed dividend warrant* value that the registrar is holding, not the total portfolio value
3. He is looking at an old dividend account, not his actual share balance in CSCS.

Because today Fidelity is *₦19.10 as of Sept 21, 2026*, up from ₦1.68 in May 2019 to ₦10.20 in May 2024. So on price alone, that old investment should be worth more than 2008, not less.

If he had 3,000 shares and held till now, capital value alone would be about:
3,000 x ₦19.10 = *₦57,300* — before bonuses and dividends.

And Fidelity has actually been one of the best performing bank stocks — *507% gain in 5 years* from 2019-2024, beating the whole NGX All Share Index.

*What anyone in that situation should check:*

- *CSCS statement* — how many units do you really have? Not what a paper share certificate says.
- *Registrar (First Registrars & Investor Services)* — any bonus shares? Fidelity did several bonuses. Unclaimed dividends?
- *Did you pay for rights issues?* If you ignored rights, your percentage holding was diluted.
- *Dividends over 18 years* — Fidelity has paid dividends every year since listing in 2005. Those dividends, if you claimed and reinvested, change everything.

So would land have been better? If he bought land in 2008 in a good location for ₦20k — yes, land would have beaten shares by far in Naira terms. But if you compare shares to shares, Fidelity didn't wipe his ₦20k to ₦5k. That ₦5,332 is likely just one piece — probably one unclaimed dividend cheque — not his total investment value.

If you know someone in this position, tell them to go to their stockbroker with their CHN number and check CSCS, not just the old paper document.

Fidelity Bank 1st IPO in 2007 was priced at N1 per share

In summary: ₦20,000 invested at Fidelity Bank’s IPO in 2007 would have grown into ~₦666,000 today, combining dividends and share appreciation — a more than 33× return over 19 years.

megawealth01:
Your salary is 200k.
Your younger sister gets admission into a private university. Fee per semester is 600k.

You take loan from office.
You pay back 100k in 6 months.

The balance of 100k left is not even enough for transportation, feeding and self development.

You cannot take any professional courses or exams. You cannot even feed well.
Family is still asking for some money from the remaining 100k.

Las, las, in the 4 years of your younger sister being in the university, your life is a serious financial struggle and hardly any growth.

You have to keep borrowing and paying and borrowing and paying.

Nwannem, here is my advice.
Younger sister will not go to that University.
Let her find a cheaper school or other self-improvement options.

Dem born me, as dem born you.
I must not halt my life for you oh.

We all need to be progressing in this life.
We dont need to sacrifice one sibling for the other.
No one is more superior biko.

Dear younger sister, since things are tough for our family, please take 150k and go and learn catering or digital skils or whatever. Start earning, start saving. In a year or two, you can go to school that we both can fund.

Thank you.

Senior sister or senior brother no be curse abeg.

Lets all contribute for our lives.

© CHIOMA EZE

What happened to government universities that offer NELFUND loan and upkeep?
Why will anyone on almost minimum wage fully sponsor a anyone to a private university?

S&P has moved Nigeria's sovereign credit rating from B- to B due to maturing reforms and ensuing economic stability

What impact is this likely to have on the stock market on Monday?
Can it trigger another long bull run?

Olaide1295:
Nigeria does not need subsidy. Don't advocate for distorted markets. If subsidy is brought in again, smuggling will restart en-masse to Benin, Cameroon & Niger. Consumption will shoot up.
Let market handle things normally. If the price is really unaffordable, demand by some people for the goods will be destroyed.

Nobody is asking how citizens of Benin, Ghana, Niger, Ivory Coast are surviving and seem to be doing well in some cases without fuel or electricity subsidy

GeneralDae:
Ah this chairman 😊. Why add the $24 Billion in the pipeline? There’s a difference between money approved by the senate for borrowing and money actually borrowed. Tinubu has increased foreign debt from $43 Billion to $51 Billion in 3 years. Forget the $24 Billion. Even Buhari had an almost similar approval in 2022 which he didn’t use.

He needed to add the ucollected $24bn to make his long story sweet and scare people

I can't make any transaction with a whole over 30 minutes time lag on Morgancapital itrade

Bizibi:
if Nigeria wants to generate as much as money as possible it can do that but every bureaucrats have a boss it settles,there are different cartels in every sector. Someone somewhere is collecting 5bn from an agency Because he norminated the person for the position, committees given billions of contracts to share not to execute or should we talk about cartels in the oil industry and mining infact the leakages is everywhere. Nigeria can get 80bn without sweat if these issues are eliminated. Yes it can raise that amount without sweat.....

This is not hearsay it happens or do you know there are expensive minerals mined in the north and those doing it are in elected positions,the illegality is too much.

While it is true all those leakages must be plugged and public revenue shored up. That will be enough to hit the mark

There are no countries in the world even half our size that is dependent on mineral export sales almost wholly to run their economy. Minerals commodity prices that are unstable can have damaging effects on such an economy. Taxation of income is the surest and most stable source of public funds.

To have similar revenue buffers like UAE, Nigeria will need to produce and export 70m barrels of oil daily, now we manage to produce1,7m barrels. Where is the market to absorb 70m?

KarlTom:
You should take Wikipedia with a pinch of salt.

Sen. Yari is an accomplished businessman even before he ventured into politics. I, however, cannot say much about his wealth...

What does he buy and sell to accumulate over 800bn used to buy GEREGU?
Was a bank loan added to make up the purchase cost?

Will be interesting to see his tax payments while doing business

Bizibi:
the leakages in the system is too much. From those in Villa to nass to MDA to states to local government..... federal level have its leakages,state level is the worst. REVENUE GENERATION IS NOT NIGERIA'S PROBLEM.

Revenue generation is a big problem in Nigeria

African nation budgets 2026
South Africa - $150bn
Algeria - $126bn
Egypt - $91bn
Morocco - $83bn
Kenya - $33bn
Ghana - $31b
Nigeria - $40bn

Its insane to even think Nigeria does not have a revenue problem
South Africa can put Nigeria entire$40bn in public education or power projects alone and still have almost 3 times our total budget to invest in other sectors. And someone suggest we should remain at $40bn to outcompete these African countries in the quest for human development and industrial investment attraction? Are we joking here?

Jayce242:
Don't mind him
2 years after subsidy removal there has been no single impact on the life of an average Nigerian, apart from the endless borrowing & looting. Now they have come up with income tax because election is around the corner, they need more money for rigging & someone is talking about misinformation & ignorance. If we had accountable leaders, people will gladly pay 30% on income tax, but knowing fully well these monies will end up in the pocket of our politicians & their children makes it a very hard thing to do.

If income tax payment were made obligatory and at the benevolence of earners, 90% of tax income worldwide will never reach government coffers. Thats why a legal implication exists for default, false declaration or outright evasion.
However, there is no legal limits to demand transparency, proper account, citizen access to govt records, etc.
Thats where to direct our energy and hope to get results

What is propelling Guinness?
Is the stockon the way to 500 naira?

Coolcash1:
I have pulled out a significant chunk of my funds from the market.

What has the government done for me to deserve a whooping 30% of my sweat money when I am the local government of myself? Tax is a social contract!

When the draconian CGT law is revised, I will bring it back but for now I prefer to keep my portfolio very low.

Ire o.

You will rather lose 70 in order to avoid giving government 30?
Then you will still drive on the roads and complain there are too many potholes or no road at all

Streetinvestor2:
Asi will definitely hit 150k this month though I am not a fan of the yeye thing. It is government propaganda index,Lol.And I no like this government since imo river

See conundrum
why not choose one hustle?

mikeapollo:
They don't even understand how stock trading works in reality. How are they going to monitor or segment the 12 months into when a year starts and ends?
When they say there will be exemption if the N1150m proceeds is reinvested into another stock within the year, how will they calculate the CGT if someone sells N150m shares in December and wants to reinvest the whole money into another stocks in March the following year? Will they collect the CGT in December and return it in March for the person to use to buy another stocks. Or do they expect the selling and buying to occur in the same calendar year?

The tax only becomes due when the proceeds are withdrawn from the stock broking account, i think
There's a way GT is collected in other jurisdictions

mikeapollo:
Okay, I don't want to use the dollar any longer.
Now I want to use the purchasing power parity in naira terms.
Prices of goods and services have tripled between May 2023 and now. You can use the cost of cars, building materials, land, houses etc. as a guide.
The N250m naira today would not be to buy what N150m would buy pre 2023!
What about that?

Can you explain how to end the increasingly unaffordable fuel subsidy, subsidy on currency exchange rate for the connected, electricity subsidy that is still racking up debts, without retail prices of these items increasing, rebalancing and finding their true value,

It's very easy to share impractical theories

Streetinvestor2:
That u are reaping off nigerias whose purchasing power has been destroyed .That u are making excessive profit now when many homes can not afford the eggs for thr children I should celebrate it with u.What kind of joke is this again.That he has pushed out many out of the business because of badly/failed policies and few of u now have monopoly. I should equally celebrate it with u.
What is the essence of the wealth nd prosperity if humans around u are living in poverty and hunger. I don't live in elite neighbourhood so I see things differently based on my neighbourhood street

If you are daring enough, the information he gave you now is que to go invest in poultry and reap mega profits too.

Are you not here looking for 200% profit in 3 months? Are you also reaping off anyone by taking huge profits? So you expect farmers to donate their own profit to charity during a rally, and stock investors take their full profit

The market has no emotions abeg,it only responds to stimuli

Umehj88:
I swear to God nah their head office be that. Go and verify

You want to enter Ellah massively,talk true

Streetinvestor2:
Thanks for your calculations. I don't plan paying a dime to this corrupt government in an tax beside the one they take from sources I will make sure it doesn't happen again

You will run back when you see people making money in the market and the sentiment clear from your eyes

chidiokay:
You are not immune to the hardship even if Tinubu is paying you 30k monthly to defend nonsense online

try feed your family standard meal this money and see what it cost, try visit your state of origin and see if you 30k salary can fuel your car down to the place

May band A bills happen to and lets see how you chest it rejoicingly and dancing

May you keep enjoying your Band E and generator cost instead or darkness

I am enjoying the band A very well, and i hardly operate my generator

chidiokay:
Now you guyz are begining to sound like a broken record, lets even judge the reform you make so much noise about

Tinubu himself promised Nigerians 10% gdp growth rate every year but what do we have

This year, the World Bank expects growth of 3.7 per cent, in what would be Nigeria’s best performance since 2014 save for a post-Covid rebound

Acoording to Nbs the gdp growth rate in tinubu 1st year was 3.6% followed by 3% in 2024 .. when somebody promises 10% benchmark and gives a 3.7% is that a pass

scoring 3 over 10 back2 back is that not gallant F9 or advice to withdraw

We are not stupid to expect a reform driven by taxation to turn the economy around cos No nation tax itself to prosperity

10% growth rate is a target that many variables may make possible or impossible.

Its not an exam that has a fail or pass mark.
There is still time to creep up the growth rate as the reforms take root and medium to long term investment starts yielding

And i can tell you for free that getting 10% growth rate for 2023 and 2024, as good and desirable as it is, will not make any major material difference in your life
If 10% growth had been recorded in those years, you will still be here complaining

Lanruze:
The biggest problem of the PBAT led administration is propaganda, over-hype and falsehood peddling.

I was in Nigeria on the day of inauguration and have been in Nigeria for the last 24 months of PBAT Administration.

What I can say is that nothing has changed positively. Nothing !

Only on the pages of Newspapers that we see the change, Let's be real !

This hypocrisy is so glaring and irritates to the high heavens. Why ?

I bought a Toyota Camry 2010 model ( Spider) in 2020 at N3m, now it cost over N11m is that change.

A two bedroom Apartment in Ikeja sold at N81m four years ago now sells for N210m is that change ?

The is an infiltration of publicists, propagandist and PR merchants selling hope and no tangible result especially in the last 24 months in Nigeria.

If you are a smart and upwardly mobile Nigerian between 21-40 years , please take your relocation plans very serious and save a generational embarrassment for yourself.

That category used Camry you bought could have been sold at N1,500 in 1980's , yet with the exchange rate fixed arbitrarily over 40 years, it has crept to 3m, after incurring huge debts with nothing to show , you still advocate we continue the failed policy?

stonemasonn:
Bring the price of Petrol down to 500 naira and see inflation drop

Nobody will bring down the price of fuel by fiat anymore in Nigeria, only market forces can do that

If oil prices crash to $40/barrel, petrol prices might fall lower than 500, and thats the way it can happen

Lionessza6:
You people can be really funny with your reports

1. Nigeria is a big oil producer , South Africa isn't.
2. South Africa and Morroco are the most industrialized nations in Africa with very little oil,so it isn't suprising for them to be massive importers of what they don't have.....the suprising and embarrassing nation on that list was always Nigeria.
3. It is a good thing though that you're finally doing something about that

The report is about the importation of refined fuels, not crude oil imports

Hope you know the difference

fashionnisir:
we cant be talking about increase in Vat tax without considering unemployment rate in the conutry, the mass will bear the cost burden .
Employment of workable and willing labour forces is also key.

What are the VATable products and services that an unemployed person must purchase as a basic necessity fo survival

OkpaNsukkaisBae:
Agbadorians will tell you Obasanjo is an Igbo man from Anambra. They so much hate to hear the truth

IPOBs too want to be president of the zoo

the zoo must be very sweet

mikeapollo:
Even the rehabilitation and current production at the PH refinery was largely due to Buhari's effort in awarding the contract which was almost complete before the clueless and incompetent Tinubu gate-crashed into Aso Rock .
Yet some people on TV, radio etc would want to credit Tinubu who did nothing!

Are you so much concerned with who gets credit than the impact of the economic growth we get and impact on the stock market?

shox:
This lawmaker na werey

No dignity.
Well, na Yoruba man . What do you expect. Cowardice runs in their blood .
Prostration that don’t solve Nigerians problems


God. In my next life. If you make me a Nigerian. I will kill myself as soon as I regain consciousness and you will make me again. Na u go tired

why not do it now now?

Streamz:
Chaiiiiii if not for the Leaches, South-south for be Dubai.

Dubai - UAE exports over $330bn every year an they are just 9m people in their country

South-south at 35m, hoping to be like Dubai with $40bn exports, will still be shocked at their poverty
Now imagine 220m Nigerians thinking hey should be Duabi ontop $40bn oil export plus $5bn non-oil exports, raging poverty is the result.

Until our exports hit $500bn before we should expect any reasonable wealth

surgical:
oga go and and sit down this has nothing to do with government
We're the cocoa, cashew or sesame planted today or by Tinubu or during his regime
Stop claiming credits that's not yours
Propaganda is not as effective like during the early days of lai Muhammed, change strategy

If Trumps policies should lead to increased sales of Boeing jets or wheat, it must because it was Trump building the jets?
or if the economy creates jobs it must be Trump employing the people?

why are you so negative in backwards i your thinking?