₦airaland Forum

(Bloomberg) -- Maurel & Prom agrees to sell entire 20.07% stake in Seplat Energy Plc to Heirs Energies, according to statement.
Sale price is 305 pence/share, for total amount of $496 million, with initial payment of $248 million and balance payable within 30 days
Additional contingent consideration of $10 million may become payable, subject to share price performance over the next six months
NOTE: Seplat shares closed Tuesday at 256.5p in London

https://x.com/i/spaces/1ZkKzZLvwwqKv

Discussing TOE taking a stake in Seplat, and the day's trading session on the NGX.

hopeful95:
'Wisdom is profitable to direct'

PIT goes to your state govt not the FG...lol!

The necessary amendments & tweaks will be made to the tax laws when the shortcomings & lapses inherent become obvious once it is operational.

There is no perfect law anywhere in the world, that is why the nation's constitution itself is amended to match the realities of now.

I believe we all want our country to better - regardless of the politics of who occupies the mantle of leadership. I believe that should be a bare minimum for a decent citizen.

The intent of the laws are quite clear: to make tax adminstration more efficient & increase govt revenue in the process by closing loopholes.

On paper, these sounds reasonable enough to most people. So it is our duty as citizens to ensure the judicious use of all resources accrued from the tax reforms.

Not wanting a reform of a deficient system & equally not proffering a superior arrangements/solution is somehow.

May Nigeria succeed! May the NGX mint money for us in the new year.

Happy New Year everyone!

It is unfortunate that many who are opposed to the new tax law are doing so because of ignorance, misinformation and politics.
Asked them how the law will affect them negatively and you'll get nothing concrete.

eziokwunwoko:
(Bloomberg) -- Maurel & Prom agrees to sell entire 20.07% stake in Seplat Energy Plc to Heirs Energies, according to statement.
Sale price is 305 pence/share, for total amount of $496 million, with initial payment of $248 million and balance payable within 30 days
Additional contingent consideration of $10 million may become payable, subject to share price performance over the next six months
NOTE: Seplat shares closed Tuesday at 256.5p in London

Money everywhere.
How can we benefit from this?

emmanuelewumi:
They got an undue advantage. The should have offered the private placement at the current market price or even higher than the market price.

Others would not have felt cheated if that was done.

1. Did you feel cheated when you happily paid 1420 for PRESCO when we were buying it at 1360 with instant access to the shares?

2. Which do you think would be better to do if you need a placee in 24 hours: offer at 10% discount or offer at 10% premium while your clock is ticking

3. This discount you're complaining significantly about is just about N1bn.

Now what if the bank gives a N200bn loan to an insider and price it at 300bps below prime lending rate, isn't that N6bn in free money just like that? That's if the insider doesn't end up converting a huge chunk of the N200bn to impaired asset o. It's N1bn that's now an issue??


It's not like I can't see your angle in all these o, I just choose not to

Why?

If I said I wanted to seek sec approval for a hedge fund at some point in the future, and because that sounded more sophisticated than you understood, you decided to label me a scammer, then I would prefer to see the faults, rather than the points in your arguments too. That's the vibes.

You equally support every rubbish because of your village person is handling the affairs. You forgot to add what the citizens benefits from the government that should encourage them to pay the useless tax.I government that can not even provide as small as ambulance services to accident victims. Imagine if that guy was paying tax to this government. What is the benefits to him.He is now flown abroad whr his tax is beneficial to him to receive proper health care.
Tell us what nigerias presently enjoys from the money saved from subsidy removal which we supported.I am a business man.I provide my own power, security, pay for my health care,private school fees for children.
Tell me one single thing I enjoy from government that should encourage me to pay tax abi you think all of us are civil servants who benefits something no matter how small .
If the 10% WHT was in my control dey for no see it.The thing dey even pain me when I see the deduction

hopeful95:
'Wisdom is profitable to direct'

May Nigeria succeed! May the NGX mint money for us in the new year.

Happy New Year everyone!

Yes money that will be nearly tax free.

If anyone pays more than 5% of their profits on the NGX as taxes, then it's their choice, cos there are significant provisions to explore.

ACCESS: Stock na water.....lol
Only God knows who these guys using the stock to play ping pong are.....

Meanwhile, EUNISELL @115!!
What a wonderful stride!

*NO SHIFT IN INSURANCE RECAPITALISATION*
https://thenationonlineng.net/no-shift-in-2026-recapitalization-deadline-naicom-insists/

Streetinvestor2:
Lol.i voted for the first time in last election and mobilised people to go vote.I didn't do it because of any party as I voted different party candidates for different offices.
Infact if my governor tells me presently to go vote a particular candidates. I will not even vote again for the kind vex I get for that supreme court governorof my state. So it does matter if all governor joins a single party. What have the governors done to better the lives of people in his state that people will even listen to his rubbish. Many Nigerians are against the new tax law which is a fact.It looks the window for borrowing is becoming a problem so this government desperately need new window to have money to loot....simple

I think you and I are the real problem. (You're not longer part of it since you went out this last one)

We prefer to sit inside AC and watch elections on the TV.

Then outsource voting to people who are more easily swayed, who can be more easily bought.

If all of us who wanted Peter Obi to win in the last election actually went out to vote for him, the outcome might have been different. I know there were people who really went all the way for Peter Obi, following ballot boxes and all, but there was probably another 10million of us who were just in our homes hoping he would win.

Wow!

TOE Way

eziokwunwoko:
(Bloomberg) -- Maurel & Prom agrees to sell entire 20.07% stake in Seplat Energy Plc to Heirs Energies, according to statement.
Sale price is 305 pence/share, for total amount of $496 million, with initial payment of $248 million and balance payable within 30 days
Additional contingent consideration of $10 million may become payable, subject to share price performance over the next six months
NOTE: Seplat shares closed Tuesday at 256.5p in London

eziokwunwoko:
(Bloomberg) -- Maurel & Prom agrees to sell entire 20.07% stake in Seplat Energy Plc to Heirs Energies, according to statement.
Sale price is 305 pence/share, for total amount of $496 million, with initial payment of $248 million and balance payable within 30 days
Additional contingent consideration of $10 million may become payable, subject to share price performance over the next six months
NOTE: Seplat shares closed Tuesday at 256.5p in London

Ahhh..
See why it's good to be patient.

I exited about 1200 units when it dipped to 248 pence just last month.

But being a trader, I'm sure I've made at least 20% on the proceeds since then.

pluto09:
It is unfortunate that many who are opposed to the new tax law are doing so because of ignorance, misinformation and politics.
Asked them how the law will affect them negatively and you'll get nothing concrete.

And unfortunately, the educated illiterates and the polished ignorant ones are the most vocal.

KarlTom:
Wow!

TOE Way

Will it be beneficial to transcorp plc is my own

Is it just me OR is thetre a lag?

I doubt.

Heirs Holding/Heirs Energies seem to be excluded from all the listings by TOE

Streetinvestor2:
Will it be beneficial to transcorp plc is my own

Do you care to explain?

My own thinking has been that if I sell and it stays within my trading account without it touching my account, then I probably do not need to even declare not to talk of paying tax on it. Does this align with what you understand from the tax law or am I way off the mark?

I think they are 2 questions there, if you are pressed for time and want to answer only one of them, please prioritize the first one, I can always source the answer to the second one later.

awesomeJ:
With these laws, NGX is the only place you can make billions and pay less than 5% effective tax rate!

That's much better than the previous 10% and better than the 20% average rate that most people earning over 50m p.a would pay.


I also stand to gain another N100k weekly if this stamp duty exemption is confirmed and implemented.

Whereas everyone else still has to pay stamp duty on normal bank transfers.

Now I'm begginning to see why stakeholders probably didn't object to the laws. Cos the only thing better is probably if they made NGX tax free, which wouldn't be fair, given that everyone else has to pay taxes, even those in fixed income pay 10%

ojesymsym:
Do you care to explain?

My own thinking has been that if I sell and it stays within my trading account without it touching my account, then I probably do not need to even declare not to talk of paying tax on it. Does this align with what you understand from the tax law or am I way off the mark?

I think they are 2 questions there, if you are pressed for time and want to answer only one of them, please prioritize the first one, I can always source the answer to the second one later.

If you sell and it stays within your account (or not):

1. you need to declare if the sale generated any profit even if it's 1k.
2. The profit will then only be liable to tax if all your sales in a given year exceeded N150m or your total profits exceeded N10m and you do not plan to reinvest the proceeds over the next 12 months.

Okay, just to be clear, by account, I meant it staying within the trading account like Morgan without withdrawing to my bank account.
Also, about the 5% effective payment you speak about, which is significantly different from the 30% we all seem to know, can you explain what you can achieve that.

awesomeJ:
If you sell and it stays within your account (or not):

1. you need to declare if the sale generated any profit even if it's 1k.
2. The profit will then only be liable to tax if all your sales in a given year exceeded N150m or your total profits exceeded N10m and you do not plan to reinvest the proceeds over the next 12 months.

awesomeJ:
If you sell and it stays within your account (or not):

1. you need to declare if the sale generated any profit even if it's 1k.
2. The profit will then only be liable to tax if all your sales in a given year exceeded N150m or your total profits exceeded N10m and you do not plan to reinvest the proceeds over the next 12 months.

You that keep saying the CGT won't affect u and you say ngx is your main hustle. How do u intend to handle all the fund u will be needing for different things during the yr.For me is easy because I don't use money from ngx for bills and other expenses. Abi u feel nothing can make your bill and unforseen expenses reach 10M and above in a yr

pluto09:
It is unfortunate that many who are opposed to the new tax law are doing so because of ignorance, misinformation and politics.
Asked them how the law will affect them negatively and you'll get nothing concrete.

There is nothing like misinformation or ignorance, tax is tax! There is no way it will benefit the citizen in a country where govt account for nothing! Previous monies have not been accounted for, this will be no way different.

ojesymsym:
Okay, just to be clear, by account, I meant it staying within the trading account like Morgan without withdrawing to my bank account.
Also, about the 5% effective payment you speak about, which is significantly different from the 30% we all seem to know, can you explain what you can achieve that.

Yes sir.

If I buy a stock with N50m in January, and by June, it's done 100% and is then valued at N100m

Even if I sell and have no plans to remain on the market, I will sell for N100m, then repurchase for N100m and resell for N100m.


Two transaction tranches:.
First leg: I entered at N50m and exited at N100m , N50m gains .

It won't be taxable cos I'm deploying the process into the second tranch.


Second tranch:

I entered and N100m and exited at N100m

No profits hence no tax.

If you don't want to make it obvious that you're gaming the system, you can space the transactions by weeks.

At which time there may even be volatility that makes you enter and exit the second tranch at N95m , N100m for a N5m profit on which you pay 25% (about N1m) which would be 2% of your original actual N50m profit.

awesomeJ:
Yes sir.

If I buy a stock with N50m in January, and by June, it's done 100% and is then valued at N100m

Even if I sell and have no plans to remain on the market, I will sell for N100m, then repurchase for N100m and resell for N100m.


Two transaction tranches:.
First leg: I entered at N50m and exited at N100m , N50m gains .

It won't be taxable cos I'm deploying the process into the second tranch.


Second tranch:

I entered and N100m and exited at N100m

No profits hence no tax.

Wisdom won't kill you!
What of entering with 10k, will I paying the yeye tax?

Breaking: Heirs Energies Limited acquires Maurel & Prom’s 20.07% stake in Seplat Energy

Tony Elumelu’s Heirs Energies has acquired a 20% stake in Seplat Energy for USD500 million, becoming the single largest shareholder in the company.

This landmark achievement was supported by two leading African financial institutions—Afreximbank and Africa Finance Corporation—further demonstrating Africa’s capacity to finance its own deals.

It will be recalled that just last week, Heirs Energies closed a USD750 million financing deal with Afreximbank to fund its existing operations and expansion plans.

MoreStories

With this financial firepower, Heirs Energies is well-positioned to execute transactions of this scale.

Seplat Energy currently produces about 286 thousand barrels of oil equivalent per day (kboepd); and Heirs Energies produces about 70 kboepd.

In aggregate, the combined daily oil and gas production of both entities is about 356 kboepd, split into about 266 thousand barrels of oil per day (kbopd) and about 490 million cubic feet of gas per day (mmcfd).

With this landmark deal, Tony Elumelu has further consolidated his position in the energy sector. His power generation companies (Transcorp Power, in Delta State & TransAfam Power, in Rivers State) account for 17% of Nigeria’s electricity supply, while Abuja Electricity Distribution Company (AEDC) serves a 126,000 sq. km area spanning Abuja, Kogi, Nasarawa, and Niger States.

A leading Africapitalist, he has consistently championed the urgent need to bridge Africa’s energy poverty, and this acquisition further reinforces his belief that “No One But Us Will Fix Africa.”

This is a developing story…
Copied from Nairametrics

Hmmm, I non sure say this your trick go work oooo....

Let us use another brick and mortal business scenario to analyze this, assuming I sell rice and beans in my store and bought Rice worth with an initial capital of 50m and sold for 100m in June, that is a profit of 50. Now I decided to now buy beans with the 100M and sold the beans at 95M.

At the end of December, the profit for the year is 45M from an initial capital of 50M. Nothing concern tax man with whether na beans or rice produce the profit, because your balance sheet will show a profit of 45M which I believe is what will be taxed.

But, I am no expert, just my own naive knowledge

awesomeJ:
Yes sir.

If I buy a stock with N50m in January, and by June, it's done 100% and is then valued at N100m

Even if I sell and have no plans to remain on the market, I will sell for N100m, then repurchase for N100m and resell for N100m.


Two transaction tranches:.
First leg: I entered at N50m and exited at N100m , N50m gains .

It won't be taxable cos I'm deploying the process into the second tranch.


Second tranch:

I entered and N100m and exited at N100m

No profits hence no tax.

ojesymsym:
Hmmm, I non sure say this your trick go work oooo....

Let us use another brick and mortal business scenario to analyze this, assuming I sell rice and beans in my store and bought Rice worth with an initial capital of 50m and sold for 100m in June, that is a profit of 50. Now I decided to now buy beans with the 100M and sold the beans at 95M.

At the end of December, the profit for the year is 45M from an initial capital of 50M. Nothing concern tax man with whether na beans or rice produce the profit, because your balance sheet will show a profit of 45M which I believe is what will be taxed.

But, I am no expert, just my own naive knowledge

You're exactly right with the tax man and beans scenario.

Which is why I said in the original post you quoted that the NGX is the only place you can avoid taxes like that. Cos it's only the NGX that has the reinvestment clause

The government knows that every other business restocks with proceeds from sales of their inventory but they didn't give them any reinvestment clause for tax exemption.

That's why the beans trader will pay his full tax amount, but we NGX traders will not be liable to anything.

Mfunkynation:
Wisdom won't kill you!
What of entering with 10k, will I paying the yeye tax?

Entering with 10k, how?

You mean entering the market with $10,000?

Just 103% subscription. Got roughly N257 billion

Fbn closed at N47.9

I picked at 40.65 averagely.

Agba saw it, he was still waiting at 27.

Ah you are right, you did say in your initial quote that the Ngx is the only platform you can make billions and effectively pay 5%.

Nice one

awesomeJ:
You're exactly right with the tax man and beans scenario.

Which is why I said in the original post you quoted that the NGX is the only place you can avoid taxes like that. Cos it's only the NGX that has the reinvestment clause

The government knows that every other business restocks with proceeds from sales of their inventory but they didn't give them any reinvestment clause for tax exemption.

That's why the beans trader will pay his full tax amount, but we NGX traders will not be liable to anything.

ojesymsym:
Ah you are right, you did say in your initial quote that the Ngx is the only platform you can make billions and effectively pay 5%.

Nice one

Yes sir.

Also, they're removing the 0.08% stamp duty from NGX transactions, while for the larger population, they're keeping it, only changing the payer to the sender of the money.


I traded N60m these last 3 days. That would have been N48k extra money for me if I wasn't paying stamp duty.