₦airaland Forum

mikeapollo:
Do you know what Moboilaji Jonhnson and Lateef Jakande did in Lagos? If not, please try and do sone research

Mentioning the clearing of Oshodi as a "development achievement" is funny.
Lekki free trade zone would not have been if the Lekki Epe axis was not opened up via the road connection that attracted economic activity to that area.
Only those who did not know Jakande and Mobolaji Johnson can say Tinubu developed Lagos.
Even Tinubu himself cannot say such.
Jakande established the development plan for Lagos, including the light rail and the free trade zone. But the long military rule stopped his plans and destabilized the programmes.

megawealth01:
Na today my broker paid me my huge WITHDRAWAL. Make I reason what to do from next week

faoogoke:
A new securities exchange is about to go live in Nigeria, it official name is ContiSX Securities Exchange Plc, the website countdown points to 19 October 2026. Headquartered in New Owerri, Imo State, it was founded by Prof. Ndubuisi Ekekwe of Tekedia. Its slogan is “exchanging prosperity.”

If you have heard the name and are wondering whether it is another Lagos stock story, a crypto app, or something you can actually use from Aba, Kano or the diaspora, these are the answers that matter.

What exactly is ContiSX?
It is a full-service securities exchange — a stock market plus more. It is built to list and trade equities, government and corporate bonds, Treasury Bills, commercial papers, ETFs, private-market instruments, and other products. It also talks about derivatives, tokenised instruments, and something it calls Contisx Economic Instruments (CEIs): small, standardised pieces of real businesses, farms, and projects that people can buy from as little as a few thousand naira.

Is it regulated? Is it real?
Yes, it is under the Securities and Exchange Commission (SEC) Nigeria. In April 2026 the SEC granted it Approval-in-Principle. The official site now presents the exchange as licensed and regulated. That is the difference between a roadside scheme and a market that has to follow capital-market rules on listings, brokers, custody and investor protection. Always confirm operators on the SEC’s own register before you send money.

How is this different from NGX, FMDQ or NASD?
NGX is still the main public equities market. FMDQ dominates a lot of fixed income and currencies. NASD handles some unlisted securities. ContiSX wants to sit beside them as a multi-asset venue: public markets, private markets, SME/cooperative listings, live auctions, and tools aimed at people who never opened a CSCS account.

Can an ordinary person invest? How do I open an account?
The website says open an account through licensed dealing members (brokers), then invest. That is the same basic Nigerian model as NGX: you do not usually trade the exchange itself; you go through a SEC-licensed broker, complete KYC (ID, BVN, address), and hold securities in a depository account. Retail onboarding is expected after the institutional rollout. Join the waitlist on contisx.com and wait for live buttons at launch. Do not send money to random DMs.

Minimums shown on demo CEI deals have been in the ₦8,000–₦25,000 range. That is the inclusion story: smaller tickets than a typical IPO allocation culture.

Can SMEs, cooperatives or my state raise money there?
That is a core claim. The exchange is pitching SME boards, cooperative shares, commercial papers, bonds and CEIs so a business or community project can raise working capital without only begging a bank. Brokers and dealers can also launch branded venues on its infrastructure. Execution after launch is what will prove it.

What about diaspora Nigerians?
The founder has openly courted diaspora capital with the line “Invest at Home, Thrive Globally.” In principle, non-resident Nigerians already invest in Nigerian markets through licensed brokers and proper FX/repatriation channels. ContiSX wants to make that path clearer. Rules still depend on where you live and how money enters and leaves Nigeria. Use a licensed broker, not WhatsApp “slots.”

Is there crypto? What is the ContiSX Phone?
The platform includes digital-asset and tokenisation language, stablecoin frameworks, and hybrid on-chain/off-chain settlement — all under the securities-law umbrella, not as an unregulated coin casino. Separately, they are promoting a ContiSX Phone: a blockchain-oriented device with multilingual support (Igbo, Hausa, Yoruba, Pidgin, English) and a “zero-data” claim for using ContiSX services. Apps are also promised on ordinary Android, iOS, web and even Smart TV. Treat the phone as an access product, not a requirement.

Should you care?
If ContiSX does what it says, Nigeria gets a second full-service exchange, smaller tickets into bonds and real businesses, and more ways for money outside banks to earn something. If it under-delivers, you still have NGX, FMDQ, licensed apps and T-bills.

The practical move before 19 October: join the official waitlist, verify any broker on SEC’s list, and ignore anyone asking you to “buy ContiSX tokens” privately. A new exchange is useful only if it is regulated, liquid, and boring in the right ways.

Oasisblue:
The Chinese are most welcome in Lagos markets, and people here should kindly share the locations of their warehouses and shops across the SW; also possible ways of investing and partnering with them.

The Awori have never fought any invader. Rather, they traditionally say, 'the land fights for itself'. How apt and truthful this is turning out to be once again!

GeneralDae:
As of 30 June 2026, Dangote Refinery has a total of N5.8 trillion cash at the Bank. Bigger than the budget of Lagos.

GeneralDae:
They would ignore this and this wouldn’t have been a problem but for the fact that the man lies. Debt is part of Government operations all over the world but Peter Obi have been seen on countless occasions saying he left the state with no debt

presiade:
This is funny. I don’t have to go read up things to discuss Nigerian political history—I’ve lived through many years of it and studied most of the rest, including the pre-colonial eras, in my spare time.

As far as the current development of Lagos is concerned, Tinubu has objectively contributed to it more than any other individual. Giving you the Oshodi and “molue” examples was to tell you the importance of the sustainability of a development plan; if most of the infrastructure were dilapidated pre-1999 and someone sustainably turned things around after taking over, that person is the father of the modern development. It happens in most fields as well—Newton was the father of classical physics, but Einstein is the widely acclaimed father of modern physics. Others have contributed, but Einstein’s theories are the definitive highlights (or if you like, the inflection points) of modern physics.

emmanuelewumi:
I think Nigerian traders are beginning to reap the fruit of the seed they have been sowing.

I don't believe China woke up one morning and said, “Let's go and start selling directly to Nigerians.”

Think about it o.

You travel from Nigeria to China. You spend money on flights, accommodation, logistics, agents and importation. You go there to buy goods from Chinese manufacturers.

Then you bring those goods back to Nigeria and sell them to Nigerians.

Now the same manufacturers are beginning to establish stronger footprints in Nigeria and sell closer to the final consumer.

Why should they bother or spend so much money to enter your country if the reason for their coming is same as why you come to them in their own country in the first place?


I still feel Nigerian importers are eating what they sowed.

At some point, you have to ask yourself: what exactly did we think would happen?

There is an Igbo saying:
“Onye kpatara nkụ ahụhụ, ọ ga-ata ya.”

It means - "When you bring home a bundle of firewood filled with ants, you shouldn't be surprised when the ants eventually bite you."

Nigerian importers and businessmen are not being honest to themselves.

For years, many traders went to China and specifically requested cheaper, lower-quality versions of products because they believed Nigerians would rather buy something cheap than something original.

“Make it cheaper.”
“Remove this.”
“Use this material instead.”
“Give me the one for the Nigerian market.”

The Chinese manufacturer is a businessmen too. If you ask for a cheaper product, they will produce a cheaper product.

Then the product gets to Nigeria and suddenly everything becomes “China fake.”

Even down to the medicines that have led to increase of health risks and problems in the country.



A product that costs ₦20,000 lands in Nigeria at, say, ₦35,000 after logistics and other costs per product, then somebody puts ₦100,000 on it.

₦100,000 yet it's substandard.

Not that the product suddenly became three times better, but somewhere along the chain, somebody decided that the Nigerian consumer must carry the entire burden of the margin.

For you to get the original stuff, you'd pay exorbitant prices.


This is not me saying every Nigerian trader is guilty of this. Far from it.

There are hardworking Nigerian importers who are providing genuine value, taking enormous risks and operating on very thin margins.

But there is also a culture of overpricing, counterfeiting, poor quality and excessive middlemen margins that cannot simply be blamed on China.

And now the market is responding.

China is already Nigeria's biggest import source. In the first half of 2026 alone, Nigeria imported ₦11.01 trillion worth of goods from China, representing 39.27% of total imports.

So when Chinese businesses increasingly move closer to the Nigerian consumer, manufacture locally, establish distribution networks or sell more directly, we shouldn't look at the development only through emotion.


We should ask:

What made this market attractive enough for them to come here in the first place?

Because businesses follow money.

They follow demand.

They follow gaps.

They follow inefficiencies.

And sometimes, they eventually enter the space occupied by the middlemen who created those inefficiencies.

That is the part of this conversation many people don't want to discuss.


Yes, there are serious disadvantages.

If foreign companies increasingly control manufacturing, distribution and retail in Nigeria, local businesses can face intense competition. It can affect jobs, local enterprise and domestic industrial development if Nigeria doesn't have the right policies and safeguards.

And that is where government has a major responsibility.

A country cannot simply watch its market transform without asking what happens to local manufacturers, traders, workers and consumers.


But Nigerian businesses owners also have responsibilities.

You cannot spend years exploiting a gap in the market and then become angry when somebody eventually comes to close that gap.

If your customer can buy the same product directly from the manufacturer for significantly less, eventually the middleman has to justify his existence.

That's capitalism.

The solution isn't to shout “China is taking over Nigeria.”

The bigger question is:

Why are we making it so easy for somebody else to take over the market?

Why aren't we building stronger Nigerian brands?

Why aren't we manufacturing?

Why aren't we competing on quality?

Why do we still have businesses whose entire advantage is simply “I know somebody in China”?


The big question is:
Why should a Nigerian consumer pay premium prices for an inferior product simply because it passed through five Nigerian middlemen?

We need to have this conversation without sentiment.

China isn't the only problem.

Government isn't the only problem.

Traders aren't the only problem.

Consumers aren't completely innocent either.

We have created an ecosystem where cheap products are demanded, cheap products are supplied, products are marked up heavily, counterfeits circulate freely, and everybody points fingers when the consequences arrive.

Bethel Onyema.

Teenaira:
This writer is a typical igbo tribalist. His write-up is full of falsehood and a big attempt to misinform Nigerians.
To start with, Obi is the one creating problems for himself in an attempt to claim he is a saint. Infact, he portrays other igbo persons as criminals. I mean, what is the fuzz about a government taking loans. Except you are saying the loan is misused, nothing is wrong with taking loans. He wants to claim prudency by saying he didn't take loans However, available information during his tenure shows that Anambra needs to take loan to help the government as at that time to achieve its objectives and grow the state. Nobody, not a single person has accused him of stealing money. Why is he lying that he did not take loan. Is not taking loan an achievement in itself ?
Other igbo governors took loan and we couldn't claim they are bad leaders just on that account. As a man and someone who aspire to lead, he should just stop the claim of being a saint otherwise, more daming information may start coming out which will not help his presidency efforts. He should focus on telling Nigerians what he could do better than the present administration.

emmanuelewumi:
Haba.

Jakande established Lagos State University, Lagos State Polytechnic, Radio Lagos, Lagos Television.

Built Abesan Housing estate, Iba Housing estate, Iponri Housing estate, Isolo Housing estate, Ojokoro housing estate, Ogba Housing estate,Jakande Estate Lekki and many more. These houses were affordable.

He opened up Ikotun, Egbe, Idimu, Iba, Ejigbo by constructing roads

He opened up Lekki, Ajah by the construction of Lekki Ajah express road.

In the 80s when going to Ajah, the last bus stop was Sand fill at Maroko and then take a boat.

He built General hospitals at Isolo, Ikorodu, Ijaiye, Gbagada etc

He established Gbagada estate Phase 1 and phase 2.

What about the establishment of thousands of primary and secondary schools.

He built Teslim Balogun stadium.

He was planning the metroline project before it was cancelled by the military.

All these happened within 4 years, imagine what he would have done in 8 years

emmanuelewumi:
Haba.

Jakande established Lagos State University, Lagos State Polytechnic, Radio Lagos, Lagos Television.

Built Abesan Housing estate, Iba Housing estate, Iponri Housing estate, Isolo Housing estate, Ojokoro housing estate, Ogba Housing estate,Jakande Estate Lekki and many more. These house were affordable.

He opened up Ikotun, Egbe, Idimu, Iba, Ejigbo by constructing roads

He opened up Lekki, Ajah by the construction of Lekki Ajah road.

In the 80s when going to Ajah, the last bus stop was Sand fill at Maroko and then take a boat.

He built General hospitals at Isolo, Ikorodu, Ijaiye, Gbagada etc

He establish Gbagada estate Phase 1 and phase 2.

What about the establishment of thousands of primary and secondary schools.

He built Teslim Balogun stadium.

He was planning the metroline project before it was cancelled by the military.

All these happened within 4 years, imagine what he would have done in 8 years

ppogba:
Oga Methuselah, Oke Afa bridge that opened up Ikotun and Egbe was non existing during Jakande time.
The body of water then was not large and you see vehicles wriggling through it on the way to Ikotun like people going to their villages.

All you mentioned in your first paragraph were replicated in almost all UPN states then. Hence, Ogun state Uni, Ogun poly and OGTV.

I just say make I chuk mouth as a small pikin.

presiade:
This is funny. I don’t have to go read up things to discuss Nigerian political history—I’ve lived through many years of it and studied most of the rest, including the pre-colonial eras, in my spare time.

As far as the current development of Lagos is concerned, Tinubu has objectively contributed to it more than any other individual. Giving you the Oshodi and “molue” examples was to tell you the importance of the sustainability of a development plan; if most of the infrastructure were dilapidated pre-1999 and someone sustainably turned things around after taking over, that person is the father of the modern development. It happens in most fields as well—Newton was the father of classical physics, but Einstein is the widely acclaimed father of modern physics. Others have contributed, but Einstein’s theories are the definitive highlights (or if you like, the inflection points) of modern physics.

Itzlinda:
I really hope my Igbo brothers joined hand and fight the planned take over of retail business by the chinese guys.

It is only someone that has not done business or work with chinese people that will think chinese are better people because they are white.

They are one of the most exploitive and wicked people. chinese will turn you to slave and make sure they suck the life outta you. they hate black with passion. they will not even allow you practise your religion. they are more tribalistic than the nigerians. you can work with chinese for 15 years and they will bring a 21 years old ex-convict drop out to be your boss.

I hate them with passion

GeneralDae:
As of 30 June 2026, Dangote Refinery has a total of N5.8 trillion cash at the Bank. Bigger than the budget of Lagos.

emmanuelewumi:
Ejigbo was opened up in the mid 80s.

Jakande's Administration was cut short on 31st December 1983 by Buhari's coup.


I guess you were talking about the dualization of the road

ppogba:
I am not always inclined to arguing with all these Twitter say, ggogle say. If you know that axis well, there is a Cherubim and Seraphim Church that have their camp ground around that axis. As at the time I follow them there for their annual wareva, the last visible development from Lagos poly towards Isolo ends almost at that point. Then we swim inside the " pond" and the road after the river/ pond was like a road that leads to a village.

Na small pikin I be oo.

emmanuelewumi:
So who opened up the axis, when township expansion in that axis started moving from Mushin to Papa Ajao to Mushin to Egbe.

What do think will happen when Lagos State Polytechnic was sited at Isolo, Isolo Housing estate was established and a General hospital was established by Jakande in the 80s, since Isolo was becoming highly populated, don't you think that population will start moving to Okota, Egbe, Ejigbo?

I am not on Twitter, what I posted was from Chatgpt

megawealth01:
Usually, in any year leading up to a presidential election, I pull out my funds from all my investment accounts and leave only my main account active. This is because I invest primarily with a long term perspective and I prefer to position my finances conservatively during periods when significant political and economic uncertainties may arise.

© MEGAWEALTH01

Teenaira:
This writer is a typical igbo tribalist. His write-up is full of falsehood and a big attempt to misinform Nigerians.
To start with, Obi is the one creating problems for himself in an attempt to claim he is a saint. Infact, he portrays other igbo persons as criminals. I mean, what is the fuzz about a government taking loans. Except you are saying the loan is misused, nothing is wrong with taking loans. He wants to claim prudency by saying he didn't take loans However, available information during his tenure shows that Anambra needs to take loan to help the government as at that time to achieve its objectives and grow the state. Nobody, not a single person has accused him of stealing money. Why is he lying that he did not take loan. Is not taking loan an achievement in itself ?
Other igbo governors took loan and we couldn't claim they are bad leaders just on that account. As a man and someone who aspire to lead, he should just stop the claim of being a saint otherwise, more daming information may start coming out which will not help his presidency efforts. He should focus on telling Nigerians what he could do better than the present administration.

ppogba:
I am not arguing who did what or did not do what. I am arguing as someone with a first hand knowledge even though it may not be accurate now. The Isolo estate you are talking about was not inaugurated in 1979. People did not start moving it there till early 80s. Will the establishment of Lagos Poly be credited with an instant development of Ikotun and Egbe. Papa,the answer is an EMPHATIC NO.

Na small pikin I be.

ppogba:
I am not always inclined to arguing with all these Twitter say, ggogle say. If you know that axis well, there is a Cherubim and Seraphim Church that have their camp ground around that axis. As at the time I follow them there for their annual wareva, the last visible development from Lagos poly towards Isolo ends almost at that point. Then we swim inside the " pond" and the road after the river/ pond was like a road that leads to a village.

Na small pikin I be oo.

ppogba:
I am not arguing who did what or did not do what. I am arguing as someone with a first hand knowledge even though it may not be accurate now. The Isolo estate you are talking about was not inaugurated in 1979. People did not start moving it there till early 80s. Will the establishment of Lagos Poly be credited with an instant development of Ikotun and Egbe. Papa,the answer is an EMPHATIC NO.

Na small pikin I be.

faoogoke:
I used to walk to ejigbo grammar school from Isolo in the early 1980s. The bridge was there. 1982/83. I wake pass that place very well.
Oga Emma is right.

megawealth01:
A fresh fall in price eminent bayi?

faoogoke:
I'm lived in Isolo LSDPC estate. We moved there in 1974.
Isolo is my hood. I was in Primary 1 back then.