₦airaland Forum

Look at what he is doing with FBN

Oasisblue:
I swear. He makes retail shareholders like us smile to the bank.

Agbalowomeri:
AwesomeJ is not awake yet ni

lawani:
No it didn't start today. In 1960 the west had a budget of 55 million pounds the East had 12:million pounds and the North had 7 million pounds yet the west agreed that the combination of the west and the east should have the same representation at the center as the North. That was a wrong step.

The oil today is only 25 percent of federal revenue and it is still dropping and part of the oil comes from Yoruba land as well. A good part of it. The Lagos you mention is around 80 percent Yoruba and it is the people living inside a state that pay tax in the state. Lagos today contains close to forty percent of the SW population

Before Tinubu Nigeria was depending on oil. Before the military Nigeria was not depending on oil. I hope you are not blaming Lagos for the descent into the depending on free money?

President Jonathan gave less than five percent of his personal appointments to the Yoruba and that was worse than whatever the current President is doing.

However it can not be justified in any way to give less than three times whatever is given to the SE to the SW because the heads on the shoulders of the people in the SW are not one third heads. They are full heads. 55 million people is not equal to 19 million people

Enugu, Abuja, Jos, PH, Anambra etc were developed with national funds more than Lagos if you check the number of federal government properties in them that is not for profit.

Which Yoruba state produces oil in meaningful commercial quantity today?

All I can see from your post is lack of understanding in the topic!
Lagos was developed by FG using oil money from south-south. Fact!,
Being the federal capital for many years, the FGN built all the big roads, bridges, sea ports, airport, railways etc. which attracted many companies to situate their factories and head office in Lagos.. It was not the making of the SW govt or Lagos State govt.
By law, these companies have to pay taxes to the federal and state govts, and they do so from the head office. So the companies naturally have to have to pay taxes (e.g. CIT, VAT, etc.) to FGN in Lagos. They also pay their workers PAYE to the Lagos State govt.
But the actual sales and consumption that generates the taxes (e.g. VAT) might have occurred in other parts of the country. For instance, the VAT on a product that is bought and consumed in the North or East or South-south or in Akure, is paid by the company head office to the FGN in Lagos. The VAT on recharge card that somebody buys in Borno state will be paid by MTN to the FGN in Lagos because that is where MTN head office is situated. Hence such VAT is accounted for as ''generated from'' Lagos but it is misleading and not entirely true. That is one of the problems of our tax system.

In Commerce, we are taught that the presence of companies/industries attract other companies/industries. Hence, many more companies and industries became attracted to Lagos, and that is how Lagos became what it is today. The SW govt and Lagos State govt are NOT the ones that made Lagos what it is today! It is national money from oil that built and made Lagos what it is today. So the unnecessary bragging about Lagos must stop! It is shallow and myopic!
Other coastal cities like PH, Warri, Calabar, etc could also have developed and become rich like Lagos if the FGN had directed the investments there instead of Lagos.

Dont want to be drawn into the ethnic/political thing, but you are wrong. Lagos has been a thriving commercial center long b4 the discovery of crude oil in Nigeria. Abuja was built by oil money not Lagos.

mikeapollo:
Which Yoruba state produces oil in meaningful commercial quantity today?

All I can see from your post is lack of understanding in the topic!
Lagos was developed by FG using oil money from south-south. Fact!,
Being the federal capital for many years, the FGN built all the big roads, bridges, sea ports, airport, railways etc. which attracted many companies to situate their factories and head office in Lagos.. It was not the making of the SW govt or Lagos State govt.
By law, these companies have to pay taxes to the federal and state govts, and they do so from the head office. So the companies naturally have to have to pay taxes (e.g. CIT, VAT, etc.) to FGN in Lagos. They also pay their workers PAYE to the Lagos State govt.
But the actual sales and consumption that generates the taxes (e.g. VAT) might have occurred in other parts of the country. For instance, the VAT on a product that is bought and consumed in the North or East or South-south or in Akure, is paid by the company head office to the FGN in Lagos. The VAT on recharge card that somebody buys in Borno state will be paid by MTN to the FGN in Lagos because that is where MTN head office is situated. Hence such VAT is accounted for as ''generated from'' Lagos but it is misleading and not entirely true. That is one of the problems of our tax system.

In Commerce, we are taught that the presence of companies/industries attract other companies/industries. Hence, many more companies and industries became attracted to Lagos, and that is how Lagos became what it is today. The SW govt and Lagos State govt are NOT the ones that made Lagos what it is today! It is national money from oil that built and made Lagos what it is today. So the unnecessary bragging about Lagos must stop! It is shallow and myopic!

WOW

Oasisblue:
Dont want to be drawn into the ethnic/political thing, but you are wrong. Lagos has been a thriving commercial center long b4 the discovery of crude oil in Nigeria. Abuja was built by oil money not Lagos.

mikeapollo:
Which Yoruba state produces oil in meaningful commercial quantity today?

All I can see from your post is lack of understanding in the topic!
Lagos was developed by FG using oil money from south-south. Fact!,
Being the federal capital for many years, the FGN built all the big roads, bridges, sea ports, airport, railways etc. which attracted many companies to situate their factories and head office in Lagos.. It was not the making of the SW govt or Lagos State govt.
By law, these companies have to pay taxes to the federal and state govts, and they do so from the head office. So the companies naturally have to have to pay taxes (e.g. CIT, VAT, etc.) to FGN in Lagos. They also pay their workers PAYE to the Lagos State govt.
But the actual sales and consumption that generates the taxes (e.g. VAT) might have occurred in other parts of the country. For instance, the VAT on a product that is bought and consumed in the North or East or South-south or in Akure, is paid by the company head office to the FGN in Lagos. The VAT on recharge card that somebody buys in Borno state will be paid by MTN to the FGN in Lagos because that is where MTN head office is situated. Hence such VAT is accounted for as ''generated from'' Lagos but it is misleading and not entirely true. That is one of the problems of our tax system.

In Commerce, we are taught that the presence of companies/industries attract other companies/industries. Hence, many more companies and industries became attracted to Lagos, and that is how Lagos became what it is today. The SW govt and Lagos State govt are NOT the ones that made Lagos what it is today! It is national money from oil that built and made Lagos what it is today. So the unnecessary bragging about Lagos must stop! It is shallow and myopic!

The west had revenue in 1960 that was three times the rest of the country put together and it did not include the FCT Try to put that into consideration and therefore stop isolating Lagos from the west. It is a delusion of grandeur to think the SE rank equal to the SW.

The FG did not spend on the present Lagos state up to what it took from it. Isn't that obvious? Why should the SE with lesser population take anything more than Lagos state? But it takes more than three times

The SW is second only to the SS in oil production and it is worth stating and you can't blame western Nigeria or Lagos for the descent of Nigeria into the decades long dependence on oil money even if the oil money was used to develop Lagos state which it was not. Lagos is like Benin republic. If it were a country, it's ports revenue would go a long way in supporting it and that ports revenue is seized in its entirety by the FG along with most of it's oil revenue

megawealth01:
This is wickedness sha

Oga take your loot and go. Find another venture oo🤣🤣

Oasisblue:
Dont want to be drawn into the ethnic/political thing, but you are wrong. Lagos has been a thriving commercial center long b4 the discovery of crude oil in Nigeria. Abuja was built by oil money not Lagos.

Oil was discovered in 1950s!
So tell me if it was the commercial buyers/sellers or the IGR from the markets that built the major roads, bridges, seaports, railways, etc. and also made the embassies to situate their offices in Lagos.
Conscience does not argue with the inner truth!

Loot no dey bellefil me

Zagee:
Oga take your loot and go. Find another venture oo🤣🤣

Oando release Q1 2026 and stop this nonsense at once!!🤣🤣

Oando is yet to attract atleast 200billion in private equity!! ⏰️

In other news, while blocking those that want to derail the thread with politics, who can explain story around treasury shares. I noticed a reduction of oando shares by almost 4M.

At the current prices is WEMA bank not currently more valuable than Access Bank market capitalization wise? Despite the 40 billion against 53 billion?

Zagee:
Oando release Q1 2026 and stop this nonsense at once!!🤣🤣

Let's hope Wale doesn't disappoint

lawani:
The west had revenue in 1960 that was three times the rest of the country put together and it did not include the FCT Try to put that into consideration and therefore stop isolating Lagos from the west. It is a delusion of grandeur to think the SE rank equal to the SW.

The FG did not spend on the present Lagos state up to what it took from it. Isn't that obvious? Why should the SE with lesser population take anything more than Lagos state? But it takes more than three times

The SW is second only to the SS in oil production and it is worth stating and you can't blame western Nigeria or Lagos for the descent of Nigeria into the decades long dependence on oil money even if the oil money was used to develop Lagos state which it was not. Lagos is like Benin republic. If it were a country, it's ports revenue would go a long way in supporting it and that ports revenue is seized in its entirety by the FG along with most of it's oil revenue

I am not interested in the SW vs SE debate. I am only stating facts and being objective.
The nation gave a lot to Lagos to build it up. Lagos should also give back to the nation. That is my point.

When a whole family sponsors you from childhood to become a graduate with a very good job in New York, you need to look back and help other struggling members of the family as much as you can.! That is how to build a family (or nation). You don't need to be told or reminded if you really know who you are! That is Lagos (graduate) and Nigeria (family)!

Official Price : 562
MTO : 590
Trading price : 507

The market is not impressed.

OANDO is Wale property. He will decide what to do either up or down set him hands

Jaakay:
In other news, while blocking those that want to derail the thread with politics, who can explain story around treasury shares. I noticed a reduction of oando shares by almost 4M.k

Streetinvestor2:
Good you represent adults here..lol
You see most of that thing you copy post.Adults see it as waste of time and pages on this thread. I can tell you for free most don't bother reading it..go and verify. Lol
Personally when I see it spaning a whole page.i just say see this dumb contributions. I jump and pass quickly too
Learn to do so when u see my post

You will see more of those dumb contributions. Just continue to jump and pass quicly as usual.

Lol. Long before the discovery of crude oil in commercial quantities at Oloibiri in 1956, Lagos was already one of West Africa's most important commercial centers. Its economic importance developed over several centuries. Admit it or not, Nigeria took more from Lagos than it gave to it.

mikeapollo:
Oil was discovered in 1950s!
So tell me if it was the commercial buyers/sellers or the IGR from the markets that built the major roads, bridges, seaports, railways, etc. and also made the embassies to situate their offices in Lagos.
Conscience does not argue with the inner truth!

mikeapollo:
I am not interested in the SW vs SE debate. I am only stating facts and being objective.
The nation gave a lot to Lagos to build it up. Lagos should also give back to the nation. That is my point.

When a whole family sponsors you from childhood to become a graduate with a very good job in New York, you need to look back and help other struggling members of the family as much as you can.! That is how to build a family (or nation). You don't need to be told or reminded if you really know who you are! That is Lagos (graduate) and Nigeria (family)!

And I am explaining to you that Nigeria didn't give to Lagos but took from Lagos without giving back. Maybe you wanted to say Abuja or some other Nigerian cities established and built from the scratch by the British. Value everything built by the FG in Lagos that is not for income and see if it is up to half of what was built in the SE that is of a lesser population. I hope you now see the point. Talk about the places that took far more from the FG than Lagos despite having a much lower population

I have to mention the SE as that is where Nigeria's money is being sunk into while many are mentioning Lagos

mikeapollo:
Oil was discovered in 1950s!
So tell me if it was the commercial buyers/sellers or the IGR from the markets that built the major roads, bridges, seaports, railways, etc. and also made the embassies to situate their offices in Lagos.
Conscience does not argue with the inner truth!

Oil was first discovered in Nigeria in 1956 at Oloibiri, now in Bayelsa State. Commercial production began in 1958.

Bros, abeg answer my question na. Help us make sense of Wale's ways. With the reduction in OS, they are now claiming increase in earning per share from 2024 to 2025.

megawealth01:
OANDO is Wale property. He will decide what to do either up or down set him hands

awesomeJ:
M andatory T ake-over O ffer.

The offer is what's mandatory, acceptance is not.

They're only buying up to 2% of the OS.

Mandatory Tender Offer 🤣

https://open.spotify.com/show/2rcqd6id7a5W0chXrqbB70

Midday trading update on the NGX

lawani:
No it didn't start today. In 1960 the west had a budget of 55 million pounds the East had 12:million pounds and the North had 7 million pounds yet the west agreed that the combination of the west and the east should have the same representation at the center as the North. That was a wrong step.

The oil today is only 25 percent of federal revenue and it is still dropping and part of the oil comes from Yoruba land as well. A good part of it. The Lagos you mention is around 80 percent Yoruba and it is the people living inside a state that pay tax in the state. Lagos today contains close to forty percent of the SW population

Before Tinubu Nigeria was depending on oil. Before the military Nigeria was not depending on oil. I hope you are not blaming Lagos for the descent into the depending on free money?

President Jonathan gave less than five percent of his personal appointments to the Yoruba and that was worse than whatever the current President is doing.

However it can not be justified in any way to give less than three times whatever is given to the SE to the SW because the heads on the shoulders of the people in the SW are not one third heads. They are full heads. 55 million people is not equal to 19 million people

Enugu, Abuja, Jos, PH, Anambra etc were developed with national funds more than Lagos if you check the number of federal government properties in them that is not for profit.

How you people write and post nonsense just to massage your ego is amazing. How did you arrive at a population of 19m for South East and 55 million for South West?
Is it the same Lagos that I live in that has 80% yoruba or another Lagos?

Jaakay:
In other news, while blocking those that want to derail the thread with politics, who can explain story around treasury shares. I noticed a reduction of oando shares by almost 4M.

Treasury shares means when a company withdraws or warehouses its own previously issued shares.

In Oando's case, a shareholder owing the company could not pay back; decided to give up his shares in full settlement of the debt.
Total number of shares is 4.279 billion units.
Management has decided to redistribute to shareholders pro-rata.
The value of these shares is about N457billion;

In Oando's AFS (Pages 23, 80, 81):
a. Treasury Shares (shares not yet redistributed); N379b
b. Capital Distribution Reserve (shares already distributed) N78b
......making a total of N457b already debited to Equity; making Equity to show a negative N566b.

In other words, the actual negative equity would have been about N109b (i.e. excluding the Treasury shares/Capital distribution reserves).

The shares have been valued at more than N105 per share, going by my rough estimates, if I am not mistaken.

Valthegreat:
How you people write and post nonsense just to massage your ego is amazing. How did you arrive at a population of 19m for South East and 55 million for South West?
Is it the same Lagos that I live in that has 80% yoruba or another Lagos?

Common entrance question

If Lagos NIN registration is over 13 million and the SE is over 10 million. What is the population of the SE if the population of Lagos is 23 million?

lawani:
Sincerely why do you think the SW of 55 million people should not have three times the appointment of the SE of 19 million people? Is it because the SE is feeding the SW?

The problem is that the SW and SE are geographical regions, not ethnic groups. A census measures people living in a geographic location, not their ethnicity. Therefore, if the figure of 55 million is correct, it includes Hausa, Igbo, Yoruba, and people from other ethnic groups living in that region. If a census were conducted based on ethnicity rather than place of residence, it is possible that the Igbo population could outnumber the Yoruba population.

lawani:
And I am explaining to you that Nigeria didn't give to Lagos but took from Lagos without giving back. Maybe you wanted to say Abuja or some other Nigerian cities established and built from the scratch by the British. Value everything built by the FG in Lagos that is not for income and see if it is up to half of what was built in the SE that is of a lesser population. I hope you now see the point. Talk about the places that took far more from the FG than Lagos despite having a much lower population

I have to mention the SE as that is where Nigeria's money is being sunk into while many are mentioning Lagos

Apologies, I don't think we both can flow at commensurate levels on this topic.
I don't know when you started learning about the antecedents and history of Lagos, and your appreciation of facts.

Why are you always Week-on-Week? Year-on-Year (YoY) too dey nah. Or are you a siren (wow wow … wow)?

megawealth01:
WOW

STUPIDITY has taken over.

lawani:
Well if you add VAT, CIT and customs then half of federal revenue is coming from Yoruba land in the SW apart from the SS and the NC and if it were a company, they would take half of the board seats and a nation should be operated like a company because that is the only fair way

Again, that's not correct. VAT, CIT, and customs revenue serve the whole of Nigeria, not just the South West, even though the institutions are located there. Therefore, no, the Yoruba would not be entitled to half of the board seats unless you want to decentralize these institutions and allow each region to operate its own. I don't think the Yoruba buy more goods than the rest of Nigeria.