₦airaland Forum

12 Banks Clear Recapitalisation Hurdle Ahead Of March 31 Deadline (NAMES)

https://leadership.ng/12-banks-clear-recapitalisation-hurdle-ahead-of-march-31-deadline/

chimex38:
Thought CIT was way less @ 10%
Next year it's gonna be about 30% if I am not mistaken..
Why 52%?
Does he have accruals?
It's gonna be brutal for him next yr with this new Tax act if old tax rate is sucking him like this.

Where do you people get your information?
Where did you see CIT of 10%?
The new tax law doesn't increase CIT so nothing like it will be brutal for him next year.

chimex38:
Thought CIT was way less @ 10%
Next year it's gonna be about 30% if I am not mistaken..
Why 52%?
Does he have accruals?
It's gonna be brutal for him next yr with this new Tax act if old tax rate is sucking him like this.

CIT is currently 30%.
They're looking to gradually drop to 27 then 25% in the new tax act.

But there are other levies like the 2% for TETFUND, the 10% WHT charged on already taxed profit(still goes to the same govt) etc.


I think what they're taking away which he previously enjoyed was the pioneer status, where if you build a new plant, you can enjoy up to 7 year tax holiday on products from that plant.


The policy was so generous that it also covers even just new additional lines.

Imagine DANGCEM had 20 million tonnes capacity at Obajana across 4 lines (say 5 million tonnes each).

If lines 3 and 4 are new lines, and the company needs to produce just 12m tonnes, they'll produce 5m from line 4, 5m from line 3 (both of which would be tax exempt) then only 2m tonnes from either line 1 or 2 and pay taxes on just 2m tonnes instead of 12.


He mentioned in his recent press conference that they won't give him that for Itori.

sboga:
omo my broker don mess up
i ask him guy guiness he buy guinei ins.
dats expensive mistake mehn...
suppose dey buy gold him buy sheet
she gon collect ta ta ta ta next
remember
dark is comin

For you..

Reserves look set to hit $42bn on Friday!

It's probably already above that figure. Their 30-day moving average figure will only reflect it by Friday.

chimex38:
Thought CIT was way less @ 10%
Next year it's gonna be about 30% if I am not mistaken..
Why 52%?
Does he have accruals?
It's gonna be brutal for him next yr with this new Tax act if old tax rate is sucking him like this.

Perhaps he’s referring to total taxes and levies paid to the government as a percentage of the company’s dividend payouts.

awesomeJ:
CIT is currently 30%.
They're looking to gradually drop to 27 then 25% in the new tax act.

But there are other levies like the 2% for TETFUND, the 10% WHT charged on already taxed profit(still goes to the same govt) etc.


I think what they're taking away which he previously enjoyed was the pioneer status, where if you build a new plant, you can enjoy up to 7 year tax holiday on products from that plant.


The policy was so generous that it also covers even just new additional lines.

Imagine DANGCEM had 20 million tonnes capacity at Obajana across 4 lines (say 5 million tonnes each).

If lines 3 and 4 are new lines, and the company needs to produce just 12m tonnes, they'll produce 5m from line 4, 5m from line 3 (both of which would be tax exempt) then only 2m tonnes from either line 1 or 2 and pay taxes on just 2m tonnes instead of 12.


He mentioned in his recent press conference that they won't give him that for Itori.

Hmm interesting to know.
OK. Thanks.

pluto09:
Where do you people get your information?
Where did you see CIT of 10%?
The new tax law doesn't increase CIT so nothing like it will be brutal for him next year.

Where do you people get your information?
A mistake..
Was confusing CGT with CIT.
it's CGT that's currently 10%.
Thanks for drawing attention.

https://open.spotify.com/episode/2fdrodJHbnpoeHIaaDuTEZ

A summary of today's trading session on the NGX.

Lol, the kind of things you read here. Dangote began building his refinery long before Tinubu’s administration, yet some low-key tribalists are now claiming it is because of Tinubu’s reforms that it started processing. So all that time Dangote was sourcing billions of dollars to put the refinery in place, he was betting on Tinubu eventually coming to power? What a funny bunch of people.

We were all here when NNPC reneged on the quota of stock he was promised, forcing the refinery to import crude from as far away as the USA (which, by the way, I commented on here at the time — why import from far-away USA when we have so many neighboring oil producers?). And let’s not forget the whole saga about “buy crude in naira to ease forex problems,” which NNPC refused. Then suddenly NNPC came up with sham claims that the Port Harcourt refinery had started producing. What’s happening there now?

Wow — the level of delusion here is off the charts.

Powell has done a 25bps cut as expected.

Cardoso should please do 150 on Tuesday!

Na beg I dey.

Let's get back to 145k for September!

https://www.youtube.com/watch?v=6Nlv7-0xJj4

A summary of today's trading session on the NGX.

Good evening house, a quick google search suggested some popular apps ( chaka, bamboo) and some broker specific apps for investing in the nigerian stocks market, however which would you all suggest for a beginner ? Thanks in advance

ositadima1:
Lol, the kind of things you read here. Dangote began building his refinery long before Tinubu’s administration, yet some low-key tribalists are now claiming it is because of Tinubu’s reforms that it started processing. So all that time Dangote was sourcing billions of dollars to put the refinery in place, he was betting on Tinubu eventually coming to power? What a funny bunch of people.

We were all here when NNPC reneged on the quota of stock he was promised, forcing the refinery to import crude from as far away as the USA (which, by the way, I commented on here at the time — why import from far-away USA when we have so many neighboring oil producers?). And let’s not forget the whole saga about “buy crude in naira to ease forex problems,” which NNPC refused. Then suddenly NNPC came up with sham claims that the Port Harcourt refinery had started producing. What’s happening there now?

Wow — the level of delusion here is off the charts.

You dey mind some people. They claim Tinubu was not informed of all those happenings. Alhaji was all over media shouting how they want to destroy his 20 billion dollars investment. It was so bad that they said his product was substandard. They went to the extent of bringing lower quality from Malta via oando trading company. Now they Claim it was fake news created to discredit this government. If iam not wrong the building of that refinery was already completed before Tinubu resumed office.I will give credit to Buhari government for making that refinery possible today though it drained blood from the country via subsidized dollars. It is paying back to the country that pound of flesh now.
The formal cbn governor took a big bet on that refinery and was doing everything possible to see it come alive before this government. What was this government real contribution beside to supply agreed crude to the refinery and cut off importation. Which they whr not really coming forward at the beginning. Alhaji must have done somethings with oga at the top before things changed..lol...go verify from sowore

monikulapo:
Good evening house, a quick google search suggested some popular apps ( chaka, bamboo) and some broker specific apps for investing in the nigerian stocks market, however which would you all suggest for a beginner ? Thanks in advance

forget app, register with meritrade

ARADEL leads value as All-Share Index records 1 billion shares

The Nigerian All-Share Index closed the trading session on September 17 in positive territory, gaining 489.5 points to settle at 142,036.2.

This represents a 0.35% increase from the previous day’s close of 141,546.8, as the Nigerian stock market reclaimed levels above 142,000.

Trading activity surged, with the number of shares exchanged reaching 1 billion, up from 414 million the previous day.

Read More
https://nairametrics.com/2025/09/17/aradel-leads-value-as-all-share-index-records-1-billion-shares-what-drove-volume/

Ddll:
ARADEL leads value as All-Share Index records 1 billion shares

The Nigerian All-Share Index closed the trading session on September 17 in positive territory, gaining 489.5 points to settle at 142,036.2.

This represents a 0.35% increase from the previous day’s close of 141,546.8, as the Nigerian stock market reclaimed levels above 142,000.

Trading activity surged, with the number of shares exchanged reaching 1 billion, up from 414 million the previous day.

Read More
https://nairametrics.com/2025/09/17/aradel-leads-value-as-all-share-index-records-1-billion-shares-what-drove-volume/

M y oga agba.,pls come and see what September is turning oh.You sure Janet was in distress based on your tools.It looks Janet was creating content..lol

Every quarrel a private investor has with a Government agency like NNPC or NMPDRA ( not a minister in this case) does not necessarily mean the president is automatically giving the agency orders at that point.

For example, customs on their own imposed a 4% FOB charge on imports. We could easily count it as a Tinubu policy because of course he is the president, right? But I never supported the policy or defended it because it goes against the spirit of the new tax laws and what Tinubu himself preaches about taxes. That we try to reduce the tax as much as possible but rather spread the tax net (expand). Now Tinubu through his minister told customs to suspend it.

Same thing with this Dangote matter. Tinubu has eventually removed Mele Kyari and the new NNPC boss is more friendly to Dangote. There is also the naira for crude policy.
CNG imports are also duty free all round which now makes import and investments in large scale CNG trucks tempting.

GeneralDae:
Every quarrel a private investor has with a Government agency like NNPC or NMPDRA ( not a minister in this case) does not necessarily mean the president is automatically giving the agency orders at that point.

For example, customs on their own imposed a 4% FOB charge on imports. We could easily count it as a Tinubu policy because of course he is the president, right? But I never supported the policy or defended it because it goes against the spirit of the new tax laws and what Tinubu himself preaches about taxes. That we try to reduce the tax as much as possible but rather spread the tax net (expand). Now Tinubu through his minister told customs to suspend it.

Same thing with this Dangote matter. Tinubu has eventually removed Mele Kyari and the new NNPC boss is more friendly to Dangote. There is also the naira for crude policy.

Oga make u no dey say some kind things because Tinubu is involved. These decisions u mentioned are major things that affects the country and can not be done or allowed without the knowledge of the president. The 4% tax was not the decisions of custom.It came from ministry of finance .The suspension is equally from the ministry

Oga crude oil matter/ petroleum importation/subsidized dollars for it is not small contract for it to ever happen without the president knowledge unless u are saying the president is incapacitated. I hope u know for sometimes now the president has equally been the minister of petroleum even in the past governments
In the past it is the president table that everything lands.Now with Tinubu the narrative has changed. Thr is always the fall guy but never him.
David umehi generation unborn will tell ur stories as the fall guy..lol

Streetinvestor2:
Oga make u no dey say some kind things because Tinubu is involved. These decisions u mentioned are major things that affects the country and can not be done or allowed without the knowledge of the president. The 4% tax was not the decisions of custom.It came from ministry of finance .The suspension is equally from the ministry

Oga crude oil matter/ petroleum importation/subsidized dollars for it is not small contract for it to ever happen without the president knowledge unless u are saying the president is incapacitated. I hope u know for sometimes now the president has equally been the minister of petroleum even in the past governments
In the past it is the president table that everything lands.Now with Tinubu the narrative has changed. Thr is always the fall guy but never him.
David umehi generation unborn will tell ur stories as the fall guy..lol

Customs were mainly influenced by NASS who increased their target and they have been insisting on this new fees for a while saying the cost of their operations have increased and many things have to be maintained. I cannot say I am certain Tinubu didn’t see it, but I look out for his reaction more. If Tinubu wanted it, complaints and mummuring alone would not make him reverse it. You may be right that it came to his desk and was approved initially by him. I cannot prove or disprove that.

As for the crude oil and Dangote matter, there was a lot of propaganda involved in it. NNPC didn’t sell crude as agreed because crude production had dropped drastically as at 2023/2024 and they couldn’t fulfill their side of the bargain. Between 2020 and 2022, lots of forward sales were also done. NNPC disappointed Dangote due to these reasons coupled with the fact that the refinery was at the pre commissioning stage and it was a time Dangote needed easy/quick crude for testing but it was also a time where our production was low and we had forex shortages and lots of forward sales. NNPC couldn’t just give Dangote all he needed for pre commissioning at that time (making little profits) and hence they scaled back ownership from 20% to 7.2%.

From the view of Dangote, this was disappointing and rightly so because he then had to spend to import crude at that stage.
When Dangote was complaining, these were the things he was complaining about in the case of NNPC.
Then when he spoke about Malta, opposition twisted it to point at Tinubu with no evidence but the fight was against big oil importers. Also, it would have been foolish for Tinubu to clearly take sides then by banning imports at that early stage.

When NMPDRA spoke saying they couldn’t determine the Dangote fuel quality or it not yet been ready, you cannot automatically say that was Tinubu speaking. Yes, Tinubu would not ban imports but to believe he told NMPDRA boss to give that speech as the excuse would be far too simplistic.

Summary: Was Tinubu against import ban? Yes. Does that mean Dangote was attacking Tinubu for that? No. He was attacking the marketers like DAPPMANN whom he calls the cabal. Tinubu doesn’t need to ban imports for him to take over the market but where the cabals try to restrict him from doing that, is where he fights (note the difference). Is Tinubu or Oando allowing imports because of Malta blending plant? No. Because no evidence links Malta imports to Oando or Tinubu but rather to another businessman who gave Buhari $1.5 Billion in 2020 in one of those forward sales.
So me I’m all for facts and the evidence and as investors, I’m sure this is the opportunity to learn. If I’m wrong on any of these points, I would gladly take it back.

Today's 10%

Fidson Healthcare

Toluway:
NGX considers extending trading hours to 5.00 pm
https://punchng.com/ngx-considers-extending-trading-hours-to-5-pm/

First, is to say it’s a good move by the NSE management. However, the main innovation for me is this one below. Capping the daily gain or loss is just doesn’t make sense as it limits liquidity.

…..the NGX boss had disclosed that the NGX was working on talking about increasing the maximum daily price gain of securities, which is currently at 10 per cent.

He said, “We have moved from a maximum of five per cent trading to 10 per cent, and given the sort of liquidity that we are seeing now, and to improve the commercials and trading duration, that subject is something that the exchange would look into with the approval of the SEC.”

Coolcash1:
First, is to say it’s a good move by the NSE management. However, the main innovation for me is this one below. Capping the daily gain or loss is just doesn’t make sense as it limits liquidity.

…..the NGX boss had disclosed that the NGX was working on talking about increasing the maximum daily price gain of securities, which is currently at 10 per cent.

He said, “We have moved from a maximum of five per cent trading to 10 per cent, and given the sort of liquidity that we are seeing now, and to improve the commercials and trading duration, that subject is something that the exchange would look into with the approval of the SEC.”

What does the bolded even mean
Are they also "working on talking about" increasing 10% maximum price loss

Streetinvestor2:
M y oga agba.,pls come and see what September is turning oh.You sure Janet was in distress based on your tools.It looks Janet was creating content..lol

Please, let this Agbalowomeri be. His predictions that fundamentally sound equities will crash in price will not happen this year. He is just simply looking for good stocks he will buy at a bargain price. Forget about this his Janet syndrome, it is not happening this year. The third quarter results will soon surface, people will key into majority that will churn out good results in anticipation of a blast of the full year results. In fact, if you have money stacked away somewhere now is the time to buy and not a time to sit on the fence. The astronomical rise in price will shock many, that is why I am gradually picking up fundamentally sound stocks in my portfolio at a discount.

Lesson learnt: There is always money to be made in the stock market. Whether in a bull or bear situation. Accumulate gradually, your end results will surprise you.

REDSTAREX 😊

GeneralDae:
Every quarrel a private investor has with a Government agency like NNPC or NMPDRA ( not a minister in this case) does not necessarily mean the president is automatically giving the agency orders at that point.

For example, customs on their own imposed a 4% FOB charge on imports. We could easily count it as a Tinubu policy because of course he is the president, right? But I never supported the policy or defended it because it goes against the spirit of the new tax laws and what Tinubu himself preaches about taxes. That we try to reduce the tax as much as possible but rather spread the tax net (expand). Now Tinubu through his minister told customs to suspend it.

Same thing with this Dangote matter. Tinubu has eventually removed Mele Kyari and the new NNPC boss is more friendly to Dangote. There is also the naira for crude policy.
CNG imports are also duty free all round which now makes import and investments in large scale CNG trucks tempting.

Who is the minister of petroleum?

I am sure those agencies report to the minister of petroleum.


Oga at the top does not do right fights, he sends his foot soldiers to do the fight

He will then come in to settle the fight purported started by him low key.

emmanuelewumi:
Who is the minister of petroleum?

I am sure those agencies report to the minister of petroleum.


Oga at the top does not do right fights, he sends his foot soldiers to do the fight

He will then come in to settle the fight purported started by him low key.

Dangote refinery is of immense help to Tinubu’s Government and he knows it. There is no reason he would want to frustrate it. It would also have been foolish to ban imports outrightly in such a sector as the energy sector.
When it comes to supporting Dangote currently, Tinubu’s Government is doing a lot and this is why importers are crying. Infact I know a special adviser to the Government who revealed that this CNG scheme of Dangote is backed by Tinubu who is collaborating with him via the Government agencies even though Dangote is the one doing the spending.

GeneralDae:
Dangote refinery is of immense help to Tinubu’s Government and he knows it. There is no reason he would want to frustrate it. It would also have been foolish to ban imports outrightly in such a sector as the energy sector.
When it comes to supporting Dangote currently, Tinubu’s Government is doing a lot and this is why importers are crying. Infact I know a special adviser to the Government who revealed that this CNG scheme of Dangote is backed by Tinubu who is collaborating with him via the Government agencies even though Dangote is the one doing the spending.

A lot must happen when dealing with a deal maker

Dangote sells to West African countries at N56 discount?

Is that part of the deal to add additional N56 to what local consumers will pay

And this N56 will be shared among some stakeholders.


Just musing

emmanuelewumi:
A lot must happen when dealing with a deal maker

like percentage ownership,interest or commission..lol