₦airaland Forum

Our People should be very careful with FBN.
They are not out of the wood yet.

OBAGADAFFI:
LOL,

They don't divide annual budget by the population.

FG simply Budget for their workers(recurrent ) and FG projects(capital)

Every state government also have their own Budgets, workers(recurrent ) and state projects(capital).

Case closed brother.
Let continue to talk stocks

OBAGADAFFI:
I disagree with you on this.

VAT alone is enough to sustain this country .

FG get funds from every Import duties, Licenses , Oil and Gas, ICT & Telecoms, Radio, TV, Mining. etc

States like Lagoas collect billions in Paye Tax, LASAA levies and Land use charges .e.t.c

Yet we keep hearing stories of insufficient funds

This is exactly what APC was telling us before they were voted into power . Now they know better .

OBAGADAFFI:
-Nigeria generates N204.77 billion from VAT in 2017 first quarter – NBS

- The minister of finance, Kemi Adeosun, has disclosed that Nigeria generated N797.51 billion into the federation account from Value Added Tax, between January and October -


Note: Most of the expenses in our Budget are inflated

And how much of this go to the FG.
Assuming the fg spend all the VAT, 798 billion / 180 million is how much?

IchimokuPilot:
It is useless collecting tax in this zoo just because countries collect it.
Why is there no single minded efficacy to duplicate the developments in other countries that our politicians love going to relax every weekend?
No one compares developmental data.
You first patch your leaking basket before heading to the stream.
I don't want to be the source of water here.

Nigeria is a country and not a zoo.
We are collecting tax because we need money not because other countries are collecting it .

DaV8King:
Using our proposed N 8trillion budget at N360=US$1, we spend approx US$23 billion.
http://www.budgetoffice.gov.ng/index.php/2018-budget-proposal\

To put in perspective, SIPRI states that Israel spent approx US$16 billion on JUST defence in 2016
https://www.sipri.org/sites/default/files/Trends-world-military-expenditure-2016.pdf

Very small indeed, our national budget.

Greed and waste only contrive to shrink it further.

And close to half of the N8 trillion is even borrowed .

OBAGADAFFI:
I disagree with you on this.

VAT alone is enough to sustain this country .

FG get funds from every Import duties, Licenses , Oil and Gas, ICT & Telecoms, Radio, TV, Mining. etc

States like Lagoas collect billions in Paye Tax, LASAA levies and Land use charges .e.t.c

Yet we keep hearing stories of insufficient funds

Can you tell me the total amount we generate as VAT in the country in a year?

Agbalowomeri:
My Oga what we generate is not too low if you consider what would be saved if corruption is eliminated

Just look at our budget and divide it by 180 million and compare with other countries.

IchimokuPilot:
Money that snakes will still swallow...

Not exactly.
We have two major problems in the country.
What we generate as revenue is too low and we misappropriate the little that we generate.
It is not only about politicians /executive, we are all involved.

Cadillac15:
They will only disrupt your activities when you have a known operating address.

Most guys using portfolio companies will not see tax officials until they die.

Nigerian govt is not ready to help this country yet. Once you open shop, they close it with their stu.pid policies.

This new tax drive is not a useless policy o.
We need to generate more money from tax.

samguru:
List of banks that may not pay dividend for financial year end 2017

1. Unity bank
2. Sterling bank
3. FCMB
4. First Bank
5. Diamond bank
6. WEMA bank
7 Access Bank
8. UBA
9.Stanbic IBtc
10.Heritage Bank
11 Skye Bank


So if you have shares in these bank dividends are doubtful

What is the basis for this assumption ?
Access, UBA and stanbic have little problem and they Will pay as usual.
FBN Will pay their tasere dividend.

Coolcash1:
I disagree with you. Let them pay me my dividend before management starts using the funds to create bad loans that will now rack up NPL in their books....To me a bird in hand worth more than billions in the bush...

Nothing has really changed.
There is no bank that pays 50% of its earnings as dividend.
Among the tier 1 banks, FBN is the only one with serious issue with CAR and NPL and those Who understand already know that they Will only pay small dividend.
Diamond has not been paying dividend for some years and anyone expecting dividend from them this year is on false hope.
Fidelity will pay as usual as they seem to be the most heathy of the tier 2 banks .

WorldAmbassador:
@Obagadaffi. I read the news and I don't think it is due to a glut of palm oil in the market. Rather, most people probably go for locally made palm oil(which is a lot cheaper) and this hurts Okomu's bottom line. I have once bought Okomu's refined palm oil called Banga Oil for over 4,000 Naira-it's too expensive.

On the other hand, I read in the Punch that the CBN is barring banks with huge Non-Performing loans from paying dividends.
http://punchng.com/cbn-bars-banks-with-huge-bad-loans-from-paying-dividends/

Importation of cheap PkO is the major problem

Agbalowomeri:
Make dem dey permutate; me I no dey buy illiquid stocks

Two of my best performing stocks from 2017 to date are what some called illiquid stocks. Fidson and CCNN.

Bought fidson at N0.98k and CCNN at N4.92.

What ever works for you stick with it

currentprice:
i think i know this stock

in my own opinion the stock is currently trading above it Q3 fairvalue except you have insider information of good than expected Q4 report

though the stock go vomit no matter how, if it is constipated to poo

Q3 report is not out yet.

Agbalowomeri:
Wetin person wan carry these ones do?

Not for people like you
Those companies are too small for you and besides, you want your returns to come very very quick.

RabbiDoracle:
I completely agree with you.

Maybe ideally, they shouldn't pay. But due to the 9ja factor, they will pay.

In an ideal situation, they wouldn't pay dividend .I agree with you here.

Agbalowomeri:
Na joke o before you say na me dump illiquid babe on you.
I don't do illiquid babes
I like them large and succulent

Lol
You don't need to tell me that you like them large, why do people think you dey follow yariya up and dawn

Agbalowomeri:
My exit recommendation for fidelity was 2.50 (from 1.3/1.5). I have never being a fan of the stock and have never bought a single unit.

No be u na dey talk say the bull will continue to run and will not stop (not even say to drink water) until Diamond reach km4, transcorp km7
Or you think say Diamond will reach km4 before Fidelity

Agbalowomeri:
Keep buying, I keep dumping

No wahala

Agbalowomeri:
Pluto is secretly buying an illiquid stock
Not knowing we have dumped on him

No matter what you say I no go mention the name of the stock until I am done buying.
If the big monies in NSEMPA should visit the stock, na to cause katakata be that

RabbiDoracle:
From Q3 2017,

Free Cash Flow (FCF) = EBIT (1 - tax rate) + depreciation & amortization - capital expenses - changes in working capital.

EBIT= N19.5b
D & A= N12
Changes in WC= N15.4
Capital expenses= ~9.9
Effective tax rate= 32%



Use the Q3 of FMN to do this and tell me what you get.

It may change at year end to be positive.

This is not the first time they will be having a negative cash flow.
This is Nigeria and I can bet it FMN will pay cash dividend.

RabbiDoracle:
A pessimist is an ex-optimist.

The problem is that some do not have a mind of their own. While there maybe some truth in what you are saying, the way you are saying it makes it sound scary. Imaging someone sold his APR about two weeks ago at N4.30 because he taught the market would crash. The same person is trying to buy back the same stock and market no gree.

Toluway:
The tongue is the best device to count the teath Rabbi
The only thing that is required is patience. Fidelity is a good stock and anyone who picked it has no reason to regret. Though if there is money, the faithfuls should laod more at the lowest low support or thereabout. Sorry for talking in the company of the gurus. This is my only trajectory to grow in the game

A stock can be very very good but if you buy at the wrong price you might get your fingers burnt.
Of course fidelity can still get to N10. Nothing is impossible.

RabbiDoracle:
There is always a first time. They can do it.

Even if they pay,.it will be so meaningless. Maybe 5 to 10 kobo.

They need to save up more.

N1 is my projection

RabbiDoracle:
And don't forget news on policy somersaults.

See the CBN news now...see what it will do to some banks.

Your pessisim is just too much.
You are getting some folks confused.

Toluway:
Remember that was when we assumed fidelity was on the way to #5

You assumed it would get to N5 in a straight line based on what ?
TA/FA/agba/onegentl postulations

RabbiDoracle:
Check their cashflow. They have a huge retained earnings but the cashflow is negative. How dem wan take pay?

Bette channel the money into payment of loans so that people can alight the bus and let price crash more.

Once they release a wonderful year end result, people will rush in. I go just give them the Kaya to carry small knowing that if they don't pay dividends, the bus will come and meet me at Ojota!

No matter what happens, I don't think the price will go below the right issue price in the short to medium term.

RabbiDoracle:
People on this forum may have bought at N4.33

They believed it will rise further. It can rise though impossible is nothing.

I only told them my purchase price for fidelity and my average price, they used their tongues to count their teeth

I am sure the head of TA in the house (fxuser) would not have bought fidelity at N4.33.
When the same stock was selling below N2 some months ago they didn't buy, they could only buy when it was already overhyped. Sure, the smart ones made cool money on it why some are only holding the can.

Cadillac15:
Experience talking. I have looked at their financials over and over again. Nothing impressive compared to their peers in the short term.

Nothing really too impressive.
Two/three months ago, I wouldn't have bought FMN. There are many options then. However, the market is a dynamic one and most other good stocks are selling close to their fair value.
Me I no get the kind of oracle patience where you hold cash for a long time and you just be hoping and praying for bear to show up.
Either bull or bear,we must make money.

RabbiDoracle:
Helping them picking a stock is insuring their funds.

I no wan make person hold my trouser at work. Imagine they had bought Fidelity at N4.33 and now they will be looking at me that I scammed them.

Why would anybody buy fidelity at N4.33
I am sure you wouldn't have recommended fidelity to them at that price.

DOLLARTEX:
But they are doing a right now?do they intend to swallow the proceeds too.

Right proceeds are not to be used for dividend payment. If they do that, I will reconsider my position.