₦airaland Forum

Panadee:
Really? Please share a link or source for this information with us; it will help to reduce all the confusion.

https://www.thisdaylive.com/2025/09/11/oyedele-savings-from-subsidy-removal-not-enough-to-transform-nigerias-economy/

According to him, “We are not creating another layer of bureaucracy. What we have done is to harmonise identification. If you already have a National Identification Number (NIN) or Bank Verification Number (BVN), you need not worry. These will serve as tax IDs. The objective is simplification, not complication.”

Locotrader:
I am not doing monkey hunting.
If I am,you will also know.
I am only creating awareness that there is big money to be made in Japaul this September and I am done.

You will still come back to do more promo😂

Locotrader:
There is rumour that want to sell before the news.Somebody who is an insider is buying buying Japaul at below 2.70 in volumes for days now.Today he even got almost 8m units at 2.58 and 10m units at 2.66.The % it gained today does not matter.Are you Japaulised is my question to you?

For those who are looking for penny stock to deliver in September,Japaul should be your number one stock in the watchlist.This is not a matter of Loco trying to cash out.The maximum Loco will cash out is 100m units and Japaul will continue it's journey of N500B need.

Insurance stocks are consolidating at these present prices.They will breakout by September ending/October.

Better to cash out on Japaul before insurance if that is what you want in this September.

It is breakout time for Japaul

Though you said you wouldn't advertise (monkey hunt) any stock again

Rori:
For seasoned investors in the house looking at what is going on in Nepal, how can one avoid loosing wealth gained via investing in equities when a country decends into anarchy just like we are seeing in Nepal

That is where people like agba will most likely excel.
Sell off the equity holdings and wait for another opportune time to buy back.
That in itself has its own risk.

aj8:
@pluto09.
Well-structured insurance companies will run more like quasi-banks. Their investment portfolio earnings should mirror yields in the bonds/treasury/mutual funds/CP etc. The extra funds from recapitalization if properly deployed should see those with strong interests in investments doing great even if core insurance is not so great in the immediacy until public perception or compliance is beaten into shape by strict legislation aided by stiff penalties for defaulters. Even though Mutual benefits has reached our lower target of N4.65, the current price of 3.43 is still good for at least a 50% upside to N5+ once their Q3 shows sustained momentum. Better still if you dive in at sub 3.15.

That is not to suggest that value doesn’t still exist elsewhere if considering dividend-paying stocks …

Thanks for the reply.
I want to think most of the insurance stocks are fairly priced at current price especially the good ones. Some are even over priced.
I am not really sold out for the recapitalisati narrative. The good ones have enough capital to meet the new minimum capital requirement.
If you are not doing well with small capital,you will probably not still do well with more.

Agbalowomeri:
Wait for 20+

lol, nothing is impossible anyway.
I think the half year results and the amount of dividend declared will play a big role in how the share price moves in the short to medium term.

mikeapollo:
Access Bank, but you have to be patient for mid-long term.
With GT and ZB selling above N60, Access will definitely hit N40-45.

DYOR

I don't think I have the patient to play access bank. I will only consider it if the price dips to N22

yMcy56:
Oga Pluto, a whole big you also looking for common sense picks
I don't know you're also in a common sense league.
If he should tell you OANDO, you go gree buy? 😁

* Abeg don't mind me o
Just pulling your legs
AJ8's common sense na confirmed sure odds 👌

He is doing a great job.
Some companies would be doing great with their numbers and it is only when someone mentioned it here that one would go back to check and you start wondering how and why have I not seen this before.
I have my set criteria for buying, even if he mentions OandO I will still have to check the numbers and see if they meet up.

aj8:
The bears are your friend. They offer front row seats to latecomers. Fortunately, you can hear them howling from every overbought ASI. Market makers don’t buy at the top. Once the top is hit they will by hook or crook disguised as “news”, swing it down to a comfortable buy zone and reposition for the big earnings on the last lap to year-end. Same pattern in most markets. Tag along if you have the cash to join in. The gain will be huge. Just make sure you buy into value. Happy trading.

Any common sense pick at current price?

dapix:
This is not possible oga, the basis and worth of the company as at when the deal was communicated, is totally different from what the current worth of the company is, based on its financial performance. It will only make the deal longer for minority share holders, as they will need to propose a new value, of which will be agreed upon, at an AGM, before getting SEC approval for it.

If I were you, its time to position and be watching. Definitely, the price is going to be higher than the earlier proposed, as the company is now worth more.

Positioning ke? I don't like uncertainty and I don't like any stock that can tie down my money.
I have some stake in the company already but I am definitely not interested in adding to my position. Na to turn the investment to hope remain now 😂

https://businessday.ng/markets/article/huaxin-to-pay-just-66-of-market-value-for-lafarge-africa/

Hope this chinko people will not do us ojoro on this one......

Agbalowomeri:
Which very small compared to market capitalization. His argument is that we won't experience crash again since the local participants are dominant. But is that really true?

I also share the opinion that the higher participation of local investors compare to foreign investors will reduce the rate of crash if at all there will be any.
This doesn't in anyway imply that the bear will not come as a normal cycle in stock markets.

https://www.nairaland.com/8507665/citizens-stone-argentina-president-milei

This is Argentina that some said is doing better than Nigeria.

Streetinvestor2:
Pls what is in that tax calculator that many business men in ur state can imput beside rent.I don't pay rent and not on loan. The only thing I see I can imput in that calculator is gross earnings.

The tax calculator is majorly for salary earners.
As a business man, you are the one who is expected to prepare your own accounts and declare profits.

emmanuelewumi:
Business men don't pay the actual tax they are supposed to pay.

If I tell you what I pay as tax?

I definitely know what you are talking about.
That is what I was trying to tell him.
That calculator is majorly for salary earners.

starpower:
yimu, probably they use bank loans, bid contracts or have kids in public schools requesting personal income tax clearance certificates. Most tax payers are in lagos, ogun, delta, rivers and Abuja.

So how do my state generate her IGR if there are no tax payer here

Streetinvestor2:
So as a business man if I earn 2 M a month with a wife and children. Then government will collect #150 k for what.
I provide my own water.I provide power most times via gen.I go to private hospital and provide my own electricity. I take care of my mum and help to my community and church.
Let me see how they will collect it.Is not signing document na collection be the problem. Is not as if the government gave me cheap loans to do the business.
Oga na civil servants and cooperate companies go pay.They go fight time with business men.You see government announce many things and when u apply as businessman. You will hear is mostly for civil servants. The businessman benefits absolutely nothing from government

I don't know the state you are based because I know that in my state business men are already paying taxes. So most of the things in the new tax law are not new. It rather simplifies and makes tax issues less ambiguous.
You will be better off by taking your time to read the new tax law and understand the ones that affect you as a business man.
There are many legal ways to reduce your tax obligations.

GeneralDae:
Lol. How many folks earn 2 million monthly in Nigeria?🤣.

Just looking for something to criticize in the tax law
I don't think there is anyone in the public service that earn up to 2m per month in the country. May be some in NNPC, CBN and the like.

GeneralDae:
If you earn 2 million naira, you pay less than you are paying now under the new law. Except we are both talking about something different.

He is talking about 2m per month and not per annum

mikeapollo:
No; I am talking about those who have been paying before but will now paying higher amounts, without any additional benefits.

So you are trying to defend people at your level that are classified as high income earners who are going to pay more . Those set of people are in the minority anyway.
And don't forget to also drag your state governor as all what you pay as PIT goes to the state government and not to the federal government.

mikeapollo:
A lot of people will be affected negatively. Paying more tax without any additional benefits.

Especially those who have not been paying before
Everyone should pay

Ginalex:
The new one no favour me o

That puts you in the league of high income earners...
You should be happy you are a big woman 😁

Toluway:
I agree with you absolutely.
This scenario has always constituted my personal worries.
I left the federal public service at the highest level of it's hierarchy, so I know what I'm talking about.
I have observed that generally, only a quarter of the members of staff do the work of a government department. This are the productive ones.
Most of the others are the ones going around gossipping, licking the boots of directors and very senior officers. And they are even better preferred by directors who love flattery and boot licking.
Before promotion exams, you see them going all over the place. They are the first to pass promotion exams.
It's so painful that the same crop of unproductive elements rise to become directors.
You will see ladies get to the office, open their laptops or handsets, and launch to the social media... Facebook, Instagram etc.
And when you give them something to do, after a few minutes, they would start taking permissions to go home and take care of their babies, or going to take their children from school.
The system is so annoying and you can do very little about it. And they always steal whatever comes their ways. Those in higher positions are always likely cheat to cart away what belongs to the junior ones.
And when it's come to going out for field assignments, which would involve money, you would see everybody prowling around the place.
And this same group, who would always escape writing field reports would always find themselves in the list.
To be frank, we don't need more than a quarter of the so called civil servants, who should be closely supervised.

I always stood up against the system. They tried to destroy me. I became a director by grace of God and they made me to Head servicom because they knew I would not compromise my principle and I would not be bringing money to the CEO.

For the public service to be productive, it should adopt the culture of the private sector.
Promotion should be based on productivity and the system of seniority should be abrogated.
So many times, I worked under morons and the only thing they know how to do is defend themselves whenever there are issues. Go to their tribalised directors and speaking hoaouosua.
Honestly, the system is annoying. Even though I was a part of it. They said I had no friends. How could they be my friends?
The only thing they scout for is money. Not interested in service at all!

My brother,I actually feel your pain.
The civil service both at the federal and state are part of the waste we have in the country but most people are just fixated on the politicians.
We need a government that will be bold and daring to reform the civil service though I know that will not happen without strong resistance and backlash from the system and the populace

ojesymsym:
Thanks for this link. Please is the NHIS Contribution (Annual) (₦): the same as HMO subscription? Any ideas?

Modified
Wait, I never knew rent was exempted from tax. When I added rent to place for rent, the tax value actually reduced compared to when I did the calculation without rent.

Yes, the HMO subscription is the same as NHIS contribution.
For most government workers in the country, the rent has been consolidated into their salary, so they might not really benefit from this.

Streetinvestor2:
What percentage was used to calculate it before and what percentage in the bracket will person of 500k in a month fall into now.
U see my problem with salary earners.U think the government is only about u guys while u make up less of the population. Have u checked what it means to business men who are not salary earners and others. As salary earners u have access to many government benefits which business men don't see from transportation, health and housing.

https://fiscalreforms.ng/index.php/pit-calculator/
Here is the link to calculate your effective tax rate and compare with the old rate.
The new tax law doesn't increase effective rate for the low income earners.

freeman67:
One thing we are not all seeing is that except for the some people employed in private / small businesses earning between 20-60k, by the design of 70k minimum wage nobody is supposed to earn less than 800k. So nobody is exempted. Minimum wage earners earn 840k per annum and by this design are to be taxed so there is no exemption for anyone except for those in the military.

There are quite a large number of people in the private sector who earn less than 60k in a month and have been paying tax before, those people will altogether be exempted.
As for those who earn more than that, the way the tax is structured is that 800k will be Tax exempt, it is what they earn above the 800k that will be taxed which makes the effective tax to be low compared to what we had before.

Streetinvestor2:
I don't see any reduction in this tax law
The so called low income workers based on 70k per month still make above 800k annually. Many in organised private sector collects nothing less than 100k per month. That is 1.2 million annually. The PIT brackets has been moved up and capital gain tax moved from 10% to 24% the lowest in the bracket. It is Cooperate tax that was untouched. The new tax law is to finish Nigerians more for thr gain.
I won't be surprised to hear private jet for each senator next yr to make thr works easier as most roads are not motorable and for thr personal security

If you are a salary earners and have been paying PIT before, you will still pay less if your salary is less than 500k in a month,so I don't see any issues with that.
The only area where people will likely pay more is the capital gain tax and I don't think that should worry anyone who says he/she is poor.

Joyful365:
The Nigeria Tax Act 2024 has been signed into law and it's set to take effect from 2026.

The tax act effectively increases the minimum tax rate for everyone and also increases capital gains tax from 10% to 30%.

The packagers of bulaba will make it seem like balablu has done Nigerians a lot of favour by making certain provisions for low income earners but they'll not tell you that the inflation and increase in price of every good and service in Nigeria has rendered those provisions ineffective against protecting anyone.

The first thing they're already planning to do with the increase in revenue from increased taxes and widened tax net is to increase the salaries and allowances of elected politicians - not increase minimum wage, fix electricity, insecurity and food shortage crisis.

The new tax law doesn't increase effective rate for everyone. It even reduces the rate for low income earners.
I have calculated my new tax rate and is even lower than what I am currently paying.
It is those in the informal sector that have not been paying before that might eventually have issues.
And mind you some of those taxes are not going to the fg but the state for instance the personal income tax.

Joyful365:
Minimum wage bill of 2023 for fg was around 4 trillion while subsidy payment (fuel and electricity) was around 7.26 trillion.

A serious government that wants to implement austerity measures without wiping out the middle class would have implemented a better version of Oronsaye report (trim and merge MDAs) which could have saved at least 500 billion annually.

As he gleefully shouted subsidy is gone, he would have also proclaimed 50% reduction in salaries and allowances of all elected and politically appointed federal government officials which would have saved another 300 billion.

After all this, minimum wage can then be increased to 150k for only grade level 1-6 and 30% increase for grade level 7-10. Every other grade stays the same cos they're already earning well and less impacted by the subsidy removal. These would have raised the wage bill to around 6.5 trillion.

Total savings from subsidy removal and austerity reforms = 7.26 trillion + 500 billion + 300 billion = 8.06 trillion

New wage bill = 6.5 trillion.

8.06 trillion - 6.5 trillion = 1.56 trillion net savings savings from year 2 of government after fully implementing subsidy removal and trimming down bloated government.

With these measures, you'll have less complain in the society cos there's been a form of wealth redistribution while government hands of paying fuel subsidy to corrupt racketeers.

At the same time, every revenue and expenditure must now be accounted for and there's full transparency and zero tolerance for corruption (executive, legislative and judiciary), while citizens are fully empowered by the law to scrutinize what every government official is doing without victimisation subject to you providing evidence and proving your claims. No more using courts and corrupt judges to stifle Investigations. Set measurable targets and measure performance regularly.

Put me there as president and you'll see real change in 2 years, not this balablu bulaba whatever that some people are celebrating here as if governance is rocket science.

If you have worked or ran a serious business where you set targets, track progress, measure performance and evaluate everything every week and every month, you'll know that Nigeria government is a joke and all they are doing is zero - just flexing power and stealing public funds to show off and oppress citizens

The public finance system is not a very simplistic one as you put it.
Subsidy savings does not only go to the federal government but the 3 tiers of government so your assumption and calculations might not be correct.
The amount we are actually saving is also a subject of debate.
The recurrent expenditures for fg is not only salary payment, the biggest for now is debt servicing.
https://www.google.com/amp/s/punchng.com/debt-servicing-salaries-take-n24-8tn-in-2025-budget/%3famp.
Even with subsidy removal and devaluation the fg receipt from FAAC is still less than 800b in a month that will still be less than 10 trillion annually.
https://www.google.com/amp/s/businessday.ng/news/article/faac-disburse-n2trn-to-federal-states-local-govt-in-august/%3famp
This is a link to the distribution of allocation for July the highest so far.
With all the noise about increase in revenue,we are still very far behind in revenue generation in comparison to our expenditures.