₦airaland Forum

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

deathwing:
Official Price : 562
MTO : 590
Trading price : 507

The market is not impressed.

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

KarlTom:
Don't get carried away!
The QD is 25 JUNE, 2026

What you see are people trying to exit rather than wait till 10 August to get payout...

KarlTom:
Don't get carried away!
The QD is 25 JUNE, 2026

What you see are people trying to exit rather than wait till 10 August to get payout...

KarlTom:
Don't get carried away!
The QD is 25 JUNE, 2026

What you see are people trying to exit rather than wait till 10 August to get payout...

mikeapollo:
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.

Oasisblue:
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.

Jaakay:
So you know book small and you are disturbing us with politricks. Sha take small thank you.

mikeapollo:
But you have not mentioned one single mineral resource from Lagos that was exploited and/or exported to generate the revenue that was used to build all the infrastructure in Lagos.
We all know what each region was producing in the colonial times.

ayobama1:
Mandatory Tender Offer 🤣

megawealth01:
You like wahala

ositadima1:
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.

deathwing:
Wait, so you'll get paid the full amount per share even if you no longer own them? Mad. So this is like dividend, but full price.

mikeapollo:
Nigerians like ethnic hypocrisy too much: No wonder nationalistic patriotism is far from us.

KarlTom:
No sir! Not mad

The register of holders at CoB on 25 June will be used to determine those who qualify to take the offer.
So, if you bought on 26 June upwards, you have two options: remain as a shareholder OR sell off on the floor.

Likewise, whoever held at CoB on 25 June, has the option to accept the offer OR remain as a shareholder.

PS: the offer covers ONLY 1.96% of minority shareholding (out of 29.95%) so even though it's an MTO, the choice/final decision rests with holders...

megawealth01:
Besides Nnamdi Azikiwe who lived one nigeria, is there any Nigerian known to be truly nationalistic?

Valthegreat:
At the bolded, whose port are you talking about? Was the port built by Lagos State government or Western government? Federal government is collecting revenue from her investment and you want to tag it Lagos revenue. The port could have been built at Warri, Port Harcourt, Calabar etc and attract same level of patronage if the federal government cared to empower it with the necessary investments as was done in Lagos. Stop bragging Lagos is not South West made it is Nigeria's collective investment. For instance, when the VAT for the MTN and Airtel recharge card over 150m Nigerians living in every part of Nigeria bought is paid via Lagos headquarters you people will come online to shout as if it was generated by South westerners alone.

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

megawealth01:
https://www.facebook.com/share/v/1Dg4as9Yqk/

Make I no laugh oooooo. A whole aso rock

lawani:
The figure for the SE also includes Yoruba, Hausa, Ijaw, Igala and all others. The people on your land are your people and Nigeria is a federal republic, a union of states

mikeapollo:
But you have not mentioned one single mineral resource from Lagos that was exploited and/or exported to generate the revenue that was used to build all the infrastructure in Lagos.
We all know what each region was producing in the colonial times.

Oasisblue:
Lol. So its only natural resources that makes a place wealthy? Una never hear of service economy before? Why do you think places that are traditional trading routes are historically (and contemporarily) wealthy?

mikeapollo:
Which 'services industry'' in Lagos before 1950s? ''Bole k'aja'' transport services or what?
Provide specific answers instead of just asking rhetoric or abstract questions that you cannot even answer yourself.

The whole of Nigeria was dependent on export of mineral or crop resources at the time (groundnut, cocoa, tin, timber, palm kernel, cotton etc.), so tell me what was different about Lagos at the time.

ositadima1:
That is correct. I was only trying to correct your impression that the Yoruba should have the upper hand because of census figures or the location of Nigerian-owned institutions. That is all.

HesInMe:
It was a port. Ports tend to have the advantage of major trades passing through them -- and the attendant commerce that results.

Honestly, people, the tone of these debates is unhelpful, especially given the focus of this thread. No matter who wins, it's the policies that matter to us investors.

HesInMe:
It was a port. Ports tend to have the advantage of major trades passing through them -- and the attendant commerce that results.

Honestly, people, the tone of these debates is unhelpful, especially given the focus of this thread. No matter who wins, it's the policies that matter to us investors.

mikeapollo:
Which 'services industry'' in Lagos before 1950s? ''Bole k'aja'' transport services or what?
Provide specific answers instead of just asking rhetoric or abstract questions that you cannot even answer yourself.

The whole of Nigeria was dependent on export of mineral or crop resources at the time (groundnut, cocoa, tin, timber, palm kernel, cotton etc.), so tell me what was different about Lagos at the time.