₦airaland Forum

mikeapollo:
It would cause a lot of commotion in the capital market.
Let's wait and see

Streetinvestor2:
Jijo go reduce seriously unless u won't be pulling out the loot from the market

ogawisdom:
It's good you are thinking long term, that means you need dividend growth stocks, you may consider

Zenith Bank at 70 & below
UBA at 50 & below
Dan cement at 510 & below
Presco at 1350 & below
NAHCO at 103 & below
Aradel at 505 & below

Buy in trenches don't go all in at once.

Noteby these are solid dividend & fundamental stocks in my opinion that are not over priced not a financial advise, do your due diligence and research. The decision is yours.

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.

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!

Panadee:
Serious commotion

pluto09:
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

ogawisdom:
It's good you are thinking long term, that means you need dividend growth stocks, you may consider

Zenith Bank at 70 & below
UBA at 50 & below
Dan cement at 510 & below
Presco at 1350 & below
NAHCO at 103 & below
Aradel at 505 & below

Buy in trenches don't go all in at once.

Noteby these are solid dividend & fundamental stocks in my opinion that are not over priced not a financial advise, do your due diligence and research. The decision is yours.

Panadee:
Many of the politicians and civil servants work hand in glove. All the memos, tenders and other documentation for inflated and poorly executed contracts go through the same people. If you don’t play ball, you could be relegated in the scheme of things.
The problem is that there is ‘fantastic’ corruption at all levels and we need a Daniel (or Danladi) to come to judgment for us to stop or at least significantly slow down this downward spiral.

mikeapollo:
He probably wants to use his gragra to destroy the capital market, same way he destroyed the economy, exchange rate, fuel subsidy removal, electricity pricing, national anthem, school fees increment in tertiary institutions, attempt to increase VAT to 15% until it was rejected by NASS etc.
The same way he used initial gragra to mess up Nigeria's relationship with other ECOWAS countries (e.g. Niger, Chad etc.) that cooperate with us to fight BH, and where some of our agricultural produce like beans, tomatoes, onions, cattle etc. come from, leading to spike in prices as a result of so called ''sanctions''.

ppogba:
In one breath you and your likes are never tired of shouting that Tinubu makes noise about the capital market recent bullish run as one of his achievements. In this new breath, he wants to destroy the capital market just as he has destroyed other sectors.

The way the presumably educated and enlightened bad mouth every thing government and Nigeria deserves serious researching into . The less educated are less caustic and way more sensible .

He takes the glory and yet wants to destroy the trophy.

Oga, make good use of your talent well .

Abeg, I don't want to annoy anyone on this particular thread of Nairaland

GeneralDae:
At the end of the day, I see that it’s mostly about our biases not necessarily about policies and ideology (no matter how enlightened we are). It’s mostly about who we like and we don’t like 😊😆. This is not just a Nigerian thing though, it’s the nature of politics 😊

GeneralDae:
No, you are getting it wrong. If you earn minimum wage (70k monthly), you earn 840k yearly. You would only pay tax on 40k. Your first 800k is tax exempt and the remaining 40k is taxed 15%.

ppogba:
In one breath you and your likes are never tired of shouting that Tinubu makes noise about the capital market recent bullish run as one of his achievements. In this new breath, he wants to destroy the capital market just as he has destroyed other sectors.

The way the presumably educated and enlightened bad mouth every thing government and Nigeria deserves serious researching into . The less educated are less caustic and way more sensible .

He takes the glory and yet wants to destroy the trophy.

Oga, make good use of your talent well .

Abeg, I don't want to annoy anyone on this particular thread of Nairaland

pluto09:
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.

pluto09:
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.

Toluway:
So much confusion in the market as participants are looking to making quick big money from insurance stocks amid uncertainties.
Make them allow other sectors breathe na.

Ginalex:
The new one no favour me o

lionshare:
I prefer when people have proper and practical alternative policy solutions, ’cause mere criticism is too cheap. BTW, there’s a rent relief of ₦500K for everyone. That, plus ₦800K, equals ₦1.3M—meaning if your total income is less than ₦1.3M per annum, you’re to pay zero tax.

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!

GeneralDae:
At the end of the day, I see that it’s mostly about our biases not necessarily about policies and ideology (no matter how enlightened we are). It’s mostly about who we like and we don’t like 😊😆. This is not just a Nigerian thing though, it’s the nature of politics 😊

Ginalex:
The new one no favour me o

KarlTom:
Not a flat rate of ₦500K but 20% of your declared rent (up to ₦500K).

So your estimation would not fly...

PETERiCHY:
OANDO gearing up for a RALLY
WE did some TOP UP @t #50

BARGAIN HUNTERS TAKE NOTE!

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

Ginalex:
The new one no favour me o

PETERiCHY:
We've DISPOSED one of our JUNK STOCK (OANDO) @t circa #54 and recovered our SPECULATIVE FUND.

Patiently WAITING to REPURCHASE at Circa #40 else GoodBye JANET

BARGAIN HUNTERS TAKE NOTE!