₦airaland Forum

mikeapollo:
My friend, it is a combination of both factors. Even the FGN is openly saying that they are able to give more funds to the states because of the devaluation of the naira and removal of fuel subsidy.
The devaluation of the naira also enables the govt to receive more naira for each USD of crude export (e.g. N1,535, instead of N500).
A govt that has been battling with huge budget deficits (in naira) and you are pretending and here saying that they did not devalue because of need for more naira revenue.
Govt historically tweaks these things to get more revenue to support the budget: taxes and levies, increased exports, foreign loans, and exchange rate devaluation (to boost export receipts in local currency)

Of course the government will get more local currency for devaluation but that will also makes servicing foreign denominated loans more expensive .
If you actually think the floating of the currency by PBAT is for government to get more revenue and not primarily because there was acute dollar shortage, I want to believe it is a waste of time engaging you further on this subject.

mikeapollo:
What I mean is that it is wrong to float and devalue the currency by 200% in an import-dependent economy if the objective is to accrue more revenue.
The better option is to limit or reduce the import of non-essential items, so we can reduce the pressure on the exchange rate, as close the trade gap rather than just devalue the currency anyhow just because you want more revenue in local currency.

I think this is where you are getting it wrong.
We didn't devalue the currency just because we wanted more revenue in naira or because the leaders are wicked.
The currency was devalued primarily because we didn't have enough foreign currency to keep subsidizing the naira and maintain an artificial peg.

Joyful365:
Please don't praise that wíckëd octogenarian who is more selfish than the devil and doesn't mind putting everyone into poverty as long as him and his cronies are well off.

He contributed to Nigeria's currency crisis by advising his fellow emptïhead to print more money in the aftermath of cøvîd 19.

He vehemently opposed subsidy removal when Nigeria had supplus revenue and savings and would have been able to better withstand the storm.

There's been zero reduction in cost governance and wasteful spending since he embarked on his poverty generating reforms. Instead its looking like all the savings from subsidy removal have been going into making life more comfortable for the rich and mighty political class.

Most Nigerians are still battling with extremely low purchasing power and that's because the old low iq man set the minimum wage very low compared to the cost of living wage. This is to keep more people in poverty to make them powerless and controllable. The attendant effect is that businesses engaged in production of goods and services will experience low patronage because people can barely survive with their income.

It's easy to praise him for favouring the rich and putting more people into poverty, but how can a society thrive with so many poor people around who must survive?

The insecurity you see today is partly caused by the poverty he's creating. No rich person in Nigeria can freely enjoy their wealth. They and their families will be targeted by criminals and kìdnæpērs, many of whom are poor people created by 11 years of bad political leadership of one party.

I'm happy that I am shielded from the wïckêdnès of Nigerian politicians and I am financially free, but I can never betray the poor in Nigeria because he put a policy in place that made me richer from the stock market boom.

The burden he created alongside the wealth is too heavy to bear.

I have my problems with PBAT and there are many things I want him to do that he has not done right.
However,on the issue of subsidy and floating of the currency, I give it to him, that is how I want my president to act.

[quote author=mikeapollo post=136578642]Bold? Pragmatic? My brother, thank God you are not too affected by such reckless actions!

Ironically, most reckless decisions may appear to be ''bold''. Many people actually take reckless actions for ''boldness''
For instance, a man that walks on the road when there is an oncoming vehicle moving at high speed may appear to be ''bold''. Until his actions leads to destruction of lives and property.
An armed robber has to be ''bold'' to commit atrocities that could lead to destruction of lives and property.
So I may agree with you. He is ''bold'' to be able to take reckless decisions that led to the destruction of lives, businesses, the economy and well being of millions of Nigerians.

[/quote

What do you mean I was not too affected.
I am in Nigeria but I knew anyone that took over from buhari would have it rough and would need to take some difficult decisions else the country would collapse
What in your opinion was a reckless action has actually saved the country from going deeper and deeper in a hole.
PBAT actually saved the country from Venezuela experience .

mikeapollo:
What kind of yeye ''action'' is that?
To stand on the podium at the swearing-in /inauguration ground and say ''subsidy is gone, whether you like it or not'';?
At a time when there was no cabinet, no minister, no policy, no data, no alternative fall back mechanism, nothing to cushion the effects on the masses?. Is that how ''action'' is taken?. Isn't that reckless?
So what is the result of the "action" now? Unprecedented hunger and hardship in the country! Is that the ''action'' he was installed to take?

That is a bold and pragmatic leader.
Others had been too timid to take a seemingly difficult but necessary decisions.

mikeapollo:
Can you mention a govt that floated and devalued the naira pro-rata from N450 to N1,500 in less 6 months in office? Can you do the maths and mention one single govt in the past that did that>
I am not talking about the normal piece-meal, gradual devaluation. I am talking about a sudden, drastic, reckless, steep devaluation of a currency from about N450 to N1,500 over night!.
Do you know how many people have lost life-changing opportunities because of that e.g. inability to gain admission or continue their education abroad; companies that have incurred huge losses and laid off employees, high costs of living and hardship etc?

I am not out to defend the government. I just like to put things in perspective.
Devaluation will always hurt many and that is not debatable.
However, looking at where we were when PBAT took over, the decision to float the naira was not a reckless one but a necessity.

mikeapollo:
This govt is not the only one that has met shortage of dollars upon assumption of office. But no previous govt was that reckless to just float the naira and allow fictitious so called ''market forces'' to determine the rate. What responsible govts. in developing countries do is to manage the exchange rate so that it would not destroy or harm businesses and the economy too harshly or too drastically.
This govt is just clueless and reckless in the way they destroyed the naira.

I would rather enact policies that would discourage the importation of non-essential goods, cut down size of govt and wasteful expenditures, corruption etc. I would not spend billions to refurbish a new mansion for the President or his Vice,. I would not award a N16 trillion ($11b) road contract in a hurry, in dubious circumstances to cronies without due process, without budget appropriation, without tender, without NASS authorization. Definitely would not be buying new private jets, etc

You have still not answered my question.
If you follow the history of devaluation in the country, you will actually see a pattern.
We always go that route when we have exhausted our reserves in trying to defend the naira.
The previous administration was busy defending the naira so that people will not suffer spending even the money that we would earn in the future.
BAT had two options, either to continue to borrow dollars and spend our earnings upfront to maintain an artificial peg or allow the naira to find its level bearing in mind that both options have consequences

mikeapollo:
We are very good at playing with fantastic rhetoric.
What ''recent gains'' have we achieved and how would strengthening the value of the naira create ''instability'' in a country that is heavily dependent on imports?
The only so called ''stability'' we have now is the near-total dislocation of the economy caused by the reckless floatation and devaluation of the naira from N550 to N1,550.
There would not be any purchasing power parity with the dollar as long as there is cost-push, import induced inflation, and a weak industrial base.

If you were to be the president when Tinubu came in and you discovered the nation Nigeria did not have enough dollars to defend the naira any longer, what would you have done differently?

machine606:
I advice you reach the office. You should be paid. Its your right. I work with insurance firm. Are you in North? Say Kaduna or Abuja? Do you have the policy documents. I might refer you to someone.

There is a lot of misinformation out there about insurance in Nigeria.
Most of those who take up insurance policies don't bother to read the policy document, people just rely on what they hear other said or what the agents that are marketing the policy tell them.
It is so unfortunate that even the educated ones are not left out in the misinformation.

oluwaleokey:
Gurus in the house please i need guidance regarding my insurance policy issue, i know this might not be the right thread however its still boils down to investment.

Five years ago, I subscribed to the Flex Edu Insurance Policy with First Bank Insurance for my daughter’s education, which was due to mature this year. Along the way, the policy management was moved to Sanlam Nigeria (a partner company, as I was informed). Despite the transition, everything seemed smooth until recently.

A few weeks before the maturity date, I contacted the company to confirm that all was in order. They responded promptly, acknowledged the upcoming maturity, and provided me with a statement of account. (Also note I had exchange several mails before and they responded swiftly)

Five days before maturity, I was forwarded a form & asked to complete a payment voucher for the full benefit. However, it has now been several weeks since maturity, and I am yet to receive any payment. To make matters worse, I even noticed an over-debit on my account, which I raised with the company, but my emails have since gone unanswered. I have sent multiple follow-ups to every contact I have, including those I previously engaged with, but there has been no response.

Currently, I can no longer access my account online, which raises even more concern. After diligently saving monthly for five years for my daughter’s education, I feel deeply frustrated and disappointed by this experience.

I kindly seek your advice on how best to call out these people?
How I can recover my funds after years of committed savings.

Is First Bank Insurance is still directly involved in this matter? and What formal steps I can take to escalate this issue if Sanlam Nigeria continues to be unresponsive

This situation feels unfair and distressing, and I would appreciate any support, guidance, or escalation channels you can provide to help resolve it.

I will appreciate every single help I could get on here
Thanks

I once did business with them and everything went smoothly.
If they have a physical office in your place, visiting their office will not be a bad idea.

Agbalowomeri:
Half or one-tenth in value

He is still better off than to get nothing.
My aso savings is still hanging there and I will be glad to have my original money back

Pennystockwarri:
Good afternoon.

If you have any questions for the management of the initiates plc, please feel free to drop them here. You can quote this post. You can also send an email to info@greentickertales.com or the initiates on twtter.

I have observed that insiders are selling down their holdings in recent time. Any explanation for that.

https://proshare.co/articles/unity-providus-business-combination-maths-between-expediency-and-technical-financial-logic?menu=Market&classification=Read&category=Mergers%20%26%20Acquisitions

hallysonia:
This question came right in time.

Currently, all my portfolios except Jaiz are red. Even the Jaiz self has reduced in return.

I have the following (with current return at -2.0% of the total money invested):

ABCTRANS bought at 5.42 - bought because I read a positive new about the company.

ARADEL bought at 528.53 - bought because the value is close to all-time low and based on technical/fundamental analysis

DS bought at 63.62 - bought because it is increasing, but didn't sell because it still has a strong fundamental

JAIZ bank bought at 4.53 - bought because I believe the bank will do well in the future

BUA Cement bought at 178.25 - ought because it is increasing. I didnt realize it was close to all time high

TRANSCORP bought at 52.70 - bought because it has a strong fundamental.

My plan is starting with 1.2million, but I have realized that these would turn into dust if care is not taken. How I wish I had read some previous conversion before making my investment decision.

Pa Emma, I was touched by your statement about "smart people learn from expert experience and those who want to learn from personal experience will suffer the most." Not that I'm learning based on my personal experience, but I can't factor out the fact that a 3 weeks old potential investor like me should be very patient. That I have money does not mean I have to make a wary investment decision.

megawealth2, come to my aid, edakun. You once said something about POVERTY and PROUDNESS. I am not proud o.

Streetinvestor2, nosa2, EDUCO, and others. E help wa.

PS:
1. I am potential investor, not really a trader. Currently running my PhD (Maths and Stat) in graduate school, so I don't have time for daily trading.
2. I am not interested in an interest based banks, breweries industries, gambling/lotto industry as well.

Apology for my brevity in typing..
Ali

Many of the stocks you bought are good but you might have bought at the wrong time.
Advising you on what to do might be difficult as no one knows the future.
If the market continues with the bullish run,then you will be fine.
On the other hand if bears rear its head it might be a long journey.
If you have come to the market last year and bought those shares,you probably by now be feeling like a pro.....Luck is a big factor in this game.

hallysonia:
That's what happen when you're newbie at something and you don't learn from expert. Lol.


Took time to think of forum like this on nairaland.

You probably buy because the price was going up.
My advice is that you learn how to value a stock(FA) and or TA.
You should know the reason why you are buying.

hallysonia:
I bought BUA cement at 170

I diversified my share into DS, BUA CEMENT, and Jaiz bank.

Not interested in anything insurance, interest-based bank/financial services, Guinness or alcohol industries, and hotel as well.

Wanna ingest some other 500k, but I'm holding on for now. I need to learn a lot. I'm not rushing..

Why did you buy bua at 173 and sugar at 63.
Any valuation metrics?

EDUECO:
See 2 members of the email ga.ng

Make we start to dey expose them here.

Wetin una want discuss wey una no fit discuss fo here ,if not be monkey hunting?

There is need for us to exercise restraint in throwing accusations around.
Yes, we have people with ulterior motive around here but those two you quoted are not in that category .

Sunrisepebble:
I said this and they told me I had personal issues with the company

You are spot right on this one too.
My respect.
But can you please provide more information about how this tax credit of a thing works....

Sunrisepebble:
Can the result of the bolded justify that price. I don’t see what’s in the company or the result, very low margin business

You should know those who use results to project target price and those who just throw figures around like we are in a casino.

aj8:
There is nothing complex. It's just maths. Only when there is a turnaround do I recognize and accommodate the improvement. The important thing is that it's incredibly accurate. It's my simple way to identify value and book a front row seat on a stock. So far, I am not sure whether it's ever failed. I will audit it someday. Go through previous posts to understand it properly. All I can say is that it has made me money over the years. I just felt it was okay to share with others. But please do not just take my word for it. Do your due diligence always. Bargains are still there and I would gladly post them as they emerge. Aj8 Common Sense is not the only strategy but it's mine and I am proud of it by the grace of God. However please note that I still pay attention to calls my some very remarkable folks on this platform and I have often used their insight to buttress my convictions on some stocks. Ymcy, Pa Emma, Sunrisep, Megaintentional, karlTom, Street.., pluto9, Agba, current price, and many others too numerous to mention. I am immensely grateful to you all. Enjoy what you have while you can. We are as breath, once it's gone, it's gone. Happy trading.

You are doing great my brother.
Whenever I ask for clarification about any post on stocks pick here, it is an indication that I rate that individual high.
Earnings are the most important thing for me in picking my stocks and that is why I always show interest in your posts since you also put premium on earnings too.

Agbalowomeri:
Omo I tire o
The formula he gave was based on EPS not "improvement" Baba wan turn am to vector and scalar

The attraction of his method for me was the inherent simplicity. It is getting a bit complex now 😊
Though I understand it is difficult to find bargain again unlike what we had last year.

aj8:
No not year end, but in a year to a year and half. Its all about taking front row seats.

Ok

aj8:
Its called mathematics. If you can recall your x y vectors

-11, -10, -09, -08, -07, -06, -05, -04, -03, -02, -01, 0, +1, +2, +3, +4, +5, +6, +7, +8, +9, +10, +11

There is 9 difference between -11 and -2
Between -11.86 and -2 = 9.86 that's the degree of improvement at H1
H1 x2 = FY
9.86x 2= 19.72
Common Sense strategy = FY forcast x4 but range x5
=19.72 x 4 = 78.88 QED sir.

19.72 x 5 = 98.60

Range will therefore be
78.88 - 98.60

QED.

Is it correct to say you are projecting an eps of N19.72 for the company by year end

megawealth01:
Former Military president Ibrahim Babangida’s son, Muhammed Babangida had rejected president Tinubu’s appointment as Chairman Bank of Agriculture. Wawu!!!

I think what is needed is this UNITY BANK finalized process which is taking long

https://www.nairaland.com/8479983/mohammed-babangida-accepts-tinubus-appointment

Which one should we believe now?

dapix:
DANGCEM now, its the biggest amongst them!!

It was another person that said it is the biggest of them .

Sunrisepebble:
Cement N30 EPS
NFA/DYOR

Wapco?