₦airaland Forum

mikeapollo:

You better join us to tell Taiwo and his master that they better suspend that CGT thing before it is too late!
Otherwise, the ''kasala'' go reach city, town, village and hamlet....everybody everywhere

The CGT will not affect everyone.
Someone like Agba has sold all, waiting to reenter the market at at his own convenience.
You also can sell and follow him to escape paying heavily for CGT.

chimex38:
Can you also guarantee they will prioritise these good things without first using proceeds to offset borrowing?
Thats if the entire tax is even enough

Guarantee ke
In my own opinion, the first thing is to generate enough funds to cover our recurrent expenditures; debt servicing (including seed money to retire matured debt obligations), salary and overhead.

chimex38:
I don't mind paying 30%-40% tax if the amenities of water, light good road health insurance, Mass Bus transportation, etc can be guaranteed throughout the 774 LGA of Nigeria and beyond at least.

Ideally and academically The tax should be cheaper in the long run than paying and maintaining these yourself. If not in my time, in the future generations.

But if debts are being accumulated in my time and taxation is being imposed.
What happens to the future fiscal use?

It's not just about capturing the untaxed.

Where will the money to provide all the good things you have mentioned come from?

KarlTom:
TAX EVERYONE!

Yes, many more need to pay tax.

ositadima1:
Why is the budget so large if we are not productive? It looks over-bloated, all these ₦13 trillion budgets that show no real justification after implementation. But correct me if I’m wrong: most of what the government spends goes to salaries, which are naira-denominated, and then supposedly to capital projects.

The government has been investing in these capital projects for years, yet they don’t seem to generate real value. What percentage of Nigerians actually benefit from these massive expenditures? Most citizens and businesses still provide everything for themselves, electricity, water, security, and so on. The only thing we all seem to enjoy are a few roads.

We keep borrowing billions of dollars to close budget shortfalls, yet there’s nothing concrete to show for it.

I am in agreement with some of the points you raised.
Some of my posts about public finance in the country is mostly about putting things in proper perspective and not to support some of the government actions.
I am also not comfortable with the level of our debt.
In the 2025 budget, allocation for debt servicing ranked highest in recurrent expenditures even more than salary and overhead.

Key figures for 2025 budget
Total Budget: ₦54.99 trillion
Revenue: ₦41.81 trillion
Fiscal Deficit: ₦13.08 trillion
Recurrent Expenditure: ₦13.64 trillion
Capital Expenditure: ₦23.96 trillion
Debt Servicing: ₦14.32 trillion
Statutory Transfers: ₦3.65 trillion

chimex38:
Lol.. I dont think so sha..
ee never reach like that.


Thats commendable at least.
But the crux of the matter is to reduce borrowing and use part of the "grown seed" of $3bn(as you say) to fund the budget deficit. That's primarily the mandate of the stabilization fund.. To assist fiscal deficits.
Not growing funds ab initio till infinity.

Apart from borrowing for infrastructure or so which could be fair..

The crux of that over ₦1Trillion borrowing is to fund previous borrowing(Eurobond maturity, budget deficit, amongst others).
Where is the stabilization Fund in these equation?

I think our people need to pay more attention to our budget.
We have a national budget the government is working on.
The budget has a deficit of about N13 trillion which is to be financed by domestic and external borrowing.
That is to say that even if we meet our revenue target,we will still have a shortfall of about N13 trillion.
I sincerely don't know how you think a stabilisation fund of about $3 billion is what should be used to finance a year budget deficit of about N13 trillion.
We still need a long way to go, the money we are generating as a country is still very low in relation to our population.

BabsO2:
It makes sense to not distribute tranche 3-6 but to sell it to a new investor and use the money to pay off debts and speedup business turnaround. I have always said this is the better option for current investors.

If OandO had been more concerned about the business of the company rather than the share price, they wouldn't have distributed any shares.
The company is very much in need of cash injection than any other thing.

mikeapollo:
SLS has always said the subsidy was not sustainable,
But he also recently described the govt (CBN and Finance Ministry) as being at a loss and confused on what to do to fix the economy. That to me, is cluelessness.
His recent remarks was more of a diplomatic stunt to mellow tension in order not to appear as being too critical of the govt and soften grounds because of the current crisis and battle for the Emir of Kano with Ado Bayero.

lol.
The likes of NOI and SLS are being diplomatic while people like afe babalola are the one saying the truth according you.

mikeapollo:
Lol.
How do you know that? How many people do you know refused/failed to go far in business and investment because they blame govt?

Some people who criticize govt. (not necessarily this current govt.) have businesses and investments worth hundreds of millions and billions of naira.
Yesterday, I watched Peterside Atedo on Channels criticizing some govt. policies. You mean he would not go far in business and investment? What about Gani Fawehinmi before he died? What about Sanusi Lamido.?

I fear you ooo.

You want to compare how SLS or Peterside criticize the government to how some people do it here.
For the record, SLS has acknowledged that Tinubu did well by removing fuel subsidy and floating the naira. That is not the same with people who will tell you that the president has not gotten anything right since he came to power.

https://nairametrics.com/2025/10/27/forex-traders-struggle-to-survive-as-cbn-cuts-bdcs-off-from-dollar-supply/

‘’Our operations are currently near extinction, with the majority of our members struggling to meet up with overhead expenses. There is an ongoing positive collaboration between the CBN and the operators on the return of active participation of the BDCs in the retail end of the FX market.

‘’The BDCs, over time, remained the most potent tool of the CBN’s foreign exchange policy transmission mechanism. The majority of us are comatose as survival is largely dependent on the official foreign exchange market, which is not accessible to the BDCs, with only very few grappling with dislocated and unstructured walk-in customers.’’

unite4real:
Does it not look fake that PAT will be this high.
This should be translating to over N23 EPS just for H1. And the useless bank cannot rise up to debunk this bandit report in circulation.

I am not sure if there is any bank in Nigeria that makes up to 1 trillion in PAT In six months.

mikeapollo:
Market reaction tomorrow would be very instructive.

Ordinarily, Access should be doing around N45-50 comfortably

I can't understand why the results is not available on NSE website.
If actually PAT is more than 1 trillion, then the result is super good.

mikeapollo:
It is 1.23trillion.
But one needs to confirm number of shares used for the EPS i.e. if it includes those issued in recent mergers/acquisitions

It doesn't add up.
I have used all the numbers I could find.
The OS Should be about 53b after the RI

mikeapollo:
It is 1.23trillion.
But one needs to confirm number of shares used for the EPS i.e. if it includes those issued in recent mergers/acquisitions

It doesn't add up.
I have used all the numbers I could find.

mikeapollo:
These figures don't look bad though.
Access may spring a positive surprise, after all

It is a solid one if the figures posted are correct.
The PAT looks somehow 1.23trillion or 1.23billion?

faoogoke:
ASO SAVINGS AND LOANS suspension has been lifted.

MH enthusiasts oya lets go there!

Some good news.
Dry bones shall rise again

awesomeJ:
I'm trying to see if you will be less bearish in this market. 😁😁

As long as he is out of the market he will always be bearish.
He will only be bullish after he enters the market again

https://punchng.com/ngx-records-strong-opening-adds-n611bn-to-market-capitalisation/

"On the value chart, Geregu Power Plc led with transactions worth N9.29bn, followed by Aradel Holdings Plc with N3.28bn, Dangote Cement Plc with N1.97bn, MTN Nigeria with N1.47bn, and Nigerian Breweries with N1.39bn."

GeneralDae:
I get your point but I was looking strictly at the ASI.

The ASI upward movement in the month of October is a pointer to the fact that investors as against speculators are still betting on the NSE

PuristForest:
Market has been largely sideways for the most of October, investors are growing weary, uncertain of tax implication and few may have info on alleged c%up and that also raises uncertainty...........we wait and build liquidity!
- insurance - still think insurance subsector needs a bit of correction tsunami.... like sunuassur¬5, sovrenin¬2, univinsure¬0.86
- Aradel - think aradel only hit a wave 2 and will make a lower low...4m worth purchase is nothing...
- Oando - nothing controversial about oando, its doing what its supposed to do in the market
No emotions, stay alert, stay ahead & DYOR !!!
ewnation/ngx
x/ew_nation

Index moved from 142 to almost 150 and you said investors are growing weary.

awesomeJ:
BUACEMENT @ 170, index at 149.7k!

Someone should move BAUFOODS or SEPLAT so we can seal this 150k today.

Na MTN I want

https://nairametrics.com/2025/10/19/nigeria-emerges-africas-fastest-growing-fmcg-market-with-54-1-growth-report/

Top 10 fastest-growing FMCG categories in 2025
Contraceptive – 95.6%
Flavoured milk – 84.4%
Biscuits – 72.2%
Mainstream spirits – 71.1%
Energy drink – 68.5%
Drinking yoghurt – 65.2%
Soft drink – 62.9%
Coffee – 59.8%
Beer – 59.3%
Powdered beverage – 58.7%

https://www.thecable.ng/breaking-nigerias-inflation-rate-drops-to-18/

“On a month-on-month basis, the Food inflation rate in September 2025 was -1.57%, down by 3.22% compared to August 2025 (1.65%),” the report said.

“The decrease can be attributed to the rate of decrease in the average prices of Maize (Corn) Grains, Garri, Beans, Millet, Potatoes, Onions, Eggs, Tomatoes, Fresh Pepper etc."

zendi:
The tax law is convoluted and a bit confusing. But it does seem you're more right than wromg.

I had thought that all taxes save a few local ones are collected by the FIRS, pooled into the Fed Acct with other revenues from where distributed to the tiers of Govt according to the Revenue Sharing Formula.

But I've just found out that more categories of taxes than I had thought are allowed for the State Govts.

I hope your assignment is done.

The PIT exclusively belongs to the state just like awesomej said.

awesomeJ:
Another thing about this CGT is that it's not even going to be collected by FIRS(NRS) if you're in the market as an individual (not a company)


So one can also move to states that are less likely to have the resources to implement.

Even LIRS might yet restrict its implementation to just HNIs.

I am not sure this is totally correct.
The CGT for an individual will be treated as PIT which belongs to the state of residence. However,I want to believe the new NRS can collect it on behalf of the state if my understanding of the new tax law is correct.

Agbalowomeri:
And we never can tell, they may not enforce it. At least, the PIT relies on individuals to declare at the end of the year. Do they have the resources to chase every high net worth individuals when they have not finished with the corporate entities

I equally want to believe that enforcement might take time.

Agbalowomeri:
Simple. I made it in the stock market pre-2026

Nobody can fault anyone for that. Tax avoidance is not tax evasion

Simple in theory but I don't think they will overlook and allow you to go tax free.