emmanuelewumi:


He paid the CEO a salary of N150 million per annum, excluding certain benefits and allowances

Over N2 billion was shared among the top distributors of Dangote cement.

The biggest distributors for 2019 went home with N200 million.

A billionaire should be able to produce as many millionaires as possible

ahiboilandgas:
i thinks so...100m dollars can cause war in africa countries...small African countries dont have 100m dollars as reserve

So this is your analogy?
What do you think is LVMH revenue annually?
If a huge chunk of that money is made from Nigeria then what do you think the only person that is the leeway of that product in Nigeria is worth?
A lot of people are deluded enough to think money comes only from oil and gas.

ojesymsym:
You sure say non be you be this Louis Vuitton Moet Hennessy's sole distributor??

Bros no ooo

Theconglomerate:
So this is your analogy?
What do you think is LVMH revenue annually?
If a huge chunk of that money is made from Nigeria then what do you think the only person that is the leeway of that product in Nigeria is worth?
A lot of people are deluded enough to think money comes only from oil and gas.

if u dont know let me help u ....famfa oil own by alakija own around 20 percent of an oil block worth around 5bn dollars ..that why she wort 1.2bn dollars .....not that she has 800m dollars in zenith bank saving accounts ....

ahiboilandgas:
u wan compared forte oil with 500 filling stations and tank farm and vessel to selling whiskey and wine as distributor......get serious man...

500 filling stations for a company that is public is not exactly ground breaking if you ask me.
Please go and research who Aisien is.No need for long talk.
When you finish come back with facts that his business isn't worth $100m.

Theconglomerate:
So this is your analogy?
What do you think is LVMH revenue annually?
If a huge chunk of that money is made from Nigeria then what do you think the only person that is the leeway of that product in Nigeria is worth?
A lot of people are deluded enough to think money comes only from oil and gas.

I think what he's saying is that you can't be "anonymous" where you're worth $100m and that being worth a certain sum has nothing to do with cash balance

Theconglomerate:
So this is your analogy?
What do you think is LVMH revenue annually?
If a huge chunk of that money is made from Nigeria then what do you think the only person that is the leeway of that product in Nigeria is worth?
A lot of people are deluded enough to think money comes only from oil and gas.

u want me to believe we drink more henessy more than 1.2 bn Chinese....please where is the link

ahiboilandgas:
if u dont know let me help u ....famfa oil own by alakija own around 20 percent of an oil block worth around 5bn dollars ..that why she wort 1.2bn dollars .....not that she has 800m dollars in zenith bank saving accounts ....

Oga stop educating me on things I already know,it sounds monotonous already.
All this worth that they use calculator to multiply by their stakes in the stock market are the ones you will know.
I am telling you from a point I know very well.
A lot of people have private liability companies that you will never know what they are worth till you get an inside view.
Everyone is not on NSE begging for capital from the public,know this.
Some people have enough capital to run their businesses by themselves very smoothly.

ahiboilandgas:
u want me to believe we drink more henessy more than 1.2 bn Chinese....please where is the link

Go and find out,I must not give you the link.
I am too big for that.
I said MOET,not cognac.

olujaidi:


I think what he's saying is that you can't be "anonymous" where you're worth $100m.

The names of companies who demand for forex, the value of their demands, line of business are in the public domain courtesy of CBN and the banks

olujaidi:


I think what he's saying is that you can't be "anonymous" where you're worth $100m and that being worth a certain sum has nothing to do with cash balance

I never said he has a $100m cash if this is the confusion.
I said he can liquidate or divert funds from JHL holdings to his new factory that can be up to $100m.
Josien is a very rich man that lagos knows so I wonder why we are arguing.

Joe Aisien is dead btw but his children now run the company.
Not everyone comes out to the limelight and be birthing DJ cuppys up and down and shouting OBO.
If not for davido a lot of people won't know Adeleke.
I don bring Aisien nyarsh for outside now who send me
There are a lot of silent billionaires in lagos.

Let's not argue about the amount of another person's funds.
What then do you believe is his reason for not investing in manufacturing? Low forex price?

Theconglomerate:
I never said he has a $100m cash if this is the confusion.
I said he can liquidate or divert funds from JHL holdings to his new factory that can be up to $100m.
Josien is a very rich man that lagos knows so I wonder why we are arguing.

ahiboilandgas:
how much the 100m dollars unkown win seller they pay him own ceo......100m dollars can never be hidden ...

I guess if he decides to liquidate his Investments, houses, business etc, should be possible but having $100 million in liquid cash will be a tall order.

ojesymsym:
Let's not argue about the amount of another person's funds.
What then do you believe is his reason for not investing in manufacturing? Low forex?

Cheap forex.
Imports are so cheap because of CBN supplying cheap dollar forcefully to Nigerians.
If you float the Naira and make devalue naira officially to its true value to about N500/$,my brother you go see investments sotey you go shout!!
When you devalue a currency,you boost investor confidence because they will know there are no more surprises.this is one point.
Also,let's put you in Josien's shoes.
If you were josien and you are an importer but you have eye to start manufacturing those things you import in Nigeria,but you bring out your calculator and press and you find out that importing that product is cheaper than the cost of producing that same product in Nigeria,
Tell me will you build the factory or keep importing?

Cheap forex you say, but don't forget that same forex was 160 around 2014 and is not around 420 now in 2020. That is already a 162% increase, how much higher will then be considered a fair increase?
Also, do not forget that even in manufacturing, many of the machinery and raw materials have to be imported also

Theconglomerate:
Cheap forex.
Imports are so cheap because of CBN supplying cheap dollar forcefully to Nigerians.
If you float the Naira and make devalue naira officially to its true value to about N500/$,my brother you go see investments sotey you go shout!!
When you devalue a currency,you boost investor confidence because they will know there are no more surprises.this is one point.
Also,let's put you in Josien's shoes.
If you were josien and you are an importer but you have eye to start manufacturing those things you import in Nigeria,but you bring out your calculator and press and you find out that importing that product is cheaper than the cost of producing that same product in Nigeria,
Tell me will you build the factory or keep importing?

ojesymsym:
Cheap forex you say, but don't forget that same forex was 160 around 2014 and is not around 420 now in 2020. That is already a 162% increase, how much higher will then be considered a fair increase?
Also, do not forget that even in manufacturing, many of the machinery and raw materials have to be imported also

There is a difference between devaluation and depreciation.
Outright devaluation brings investor confidence.
If I come and invest in Nigeria because naira has depreciated to 500 and all my calculations for my investments are based on that 500 and after doing my investments it comes and appreciate to 250 nko?
Have I not just wasted money in investing in Nigeria.
As for your 160-420,go and check the naira corresponding GDP too and tell me whether it did not increase or not.
If it increased,that tells you Nigeria Nigeria hasn't devaluated enough and still needs to go down more.
When you hit satiety and the impossible import limit,that is when the magic happens.
As for companies importing raw materials and machinery,which do you think will make final product more expensive due to devaluation;
Importing finished products OR
Importing raw material and machinery(one off import)?

What works in Nigeria is the OBJ approach for fruit juice, where there was a government policy to BAN the importation, that is the only language Nigerians understand, otherwise people will always import.

How many Nigerians really have the patience of Dangotte to tie money down for up to 6-10 years building a factory when I can just start importation as early as next month as soon as I have money.

I understand all that you are saying but my belief is that if the Naira gets devalued to say 1000, cost of items will just increase, people will adjust, Labor will cry for increase in minimum wage and then there will simply be price adjustments and still no industries built.

So, if goverment wants that your sole distributor guy to build a factory, just tell him that in 2021 june, there will be a ban on the importation of that his product, only then will he consider building a factory, that is even if he does not go and look for another product to import

Theconglomerate:
There is a difference between devaluation and depreciation.
Outright devaluation brings investor confidence.
If I come and invest in Nigeria because naira has depreciated to 500 and all my calculations for my investments are based on that 500 and after doing my investments it comes and appreciate to 250 nko?
Have I not just wasted money in investing in Nigeria.
As for your 160-420,go and check the naira corresponding GDP too and tell me whether it did not increase or not.
If it increased,that tells you Nigeria Nigeria hasn't devaluated enough and still needs to go down more.
When you hit satiety and the impossible import limit,that is when the magic happens.
As for companies importing raw materials and machinery,which do you think will make final product more expensive due to devaluation;
Importing finished products OR
Importing raw material and machinery(one off import)?

Theconglomerate:
Oga stop educating me on things I already know,it sounds monotonous already.
All this worth that they use calculator to multiply by their stakes in the stock market are the ones you will know.
I am telling you from a point I know very well.
A lot of people have private liability companies that you will never know what they are worth till you get an inside view.
Everyone is not on NSE begging for capital from the public,know this.
Some people have enough capital to run their businesses by themselves very smoothly.

u are not an authority in that field of valution or made any publication or a cerified researcher ...so cant believe u only be saying u know ....Ahib oil and gas is wort 500m dollars am telling u because i know....

ojesymsym:
What works in Nigeria is the OBJ approach for fruit juice, where there was a government policy to BAN the importation, that is the only language Nigerians understand, otherwise people will always import.

How many Nigerians really have the patience of Dangotte to tie money down for up to 6-10 years building a factory when I can just start importation as early as next month as soon as I have money.

I understand all that you are saying but my belief is that if the Naira gets devalued to say 1000, cost of items will just increase, people will adjust, Labor will cry for increase in minimum wage and then there will simply be price adjustments and still no industries built.

So, if goverment wants that your sole distributor guy to build a factory, just tell him that in 2021 june, there will be a ban on the importation of that his product, only then will he consider building a factory, that is even if he does not go and look for another product to import

When you ban a product,you have created another industry called smuggling.
So why not just make your currency weak that discourages both importers and smugglers at the same time?
People will adjust?adjust how?No be you go adjust if only you see money to adjust
Na empty hand them dey use adjust?
If you tell him by 2021 You will ban his product,what he will do is look for funds and import products in 2020 that will last till 2022 and hike the price and cash out from 2020 to 2022,after cashing out and have built mad funds,he can always go and start importing another product you didn't ban because forex is still cheap
You can't ban everything na.
I asked you that if you feel currency weakening don't improve industrialisation,then why did GDP grow from the time when dollar was 160 to now that is in 400s?
GDP should have decreased if you think cheap forex is a good thing.
China did not move western companies from their base to start producing in china by just having cheap labour and favourable taxing.
They also did a lot of currency play and I mean a lot.

ahiboilandgas:
u are not an authority in that field of valution or made any publication or a cerified researcher ...so cant believe u only be saying u know ....Ahib oil and gas is wort 500m dollars am telling u because i know....

I searched ahib oil and gas on google and found nothing except google redirecting me back to the only place the name exists,Nairaland.
I searched Josien holdings limited(JHL) on google and found a huge business concern that has giant warehouses,head office in Lagos and distributors nationwide.
How are these 2 things similar to you?
One can be verified by anybody and the other is just word of mouth said on the internet,typed from a mobile phone or laptop.
I hope I've cleared your doubts.

Economics is not my strongest strength so in fairness, I won't be able to have a GDP kind of discussion with you.

But the ban policy worked for things like fruit juice, that was when juice like chivita and co set up factories in Nigeria. I think (not sure) the same thing was done for local production of biscuits.

Theconglomerate:
When you ban a product,you have created another industry called smuggling.
So why not just make your currency weak that discourages both importers and smugglers at the same time?
People will adjust?adjust how?No be you go adjust if only you see money to adjust
Na empty hand them dey use adjust?
If you tell him by 2021 You will ban his product,what he will do is look for funds and import products in 2020 that will last till 2022 and hike the price and cash out from 2020 to 2022,after cashing out and have built mad funds,he can always go and start importing another product you didn't ban because forex is still cheap
You can't ban everything na.
I asked you that if you feel currency weakening don't improve industrialisation,then why did GDP grow from the time when dollar was 160 to now that is in 400s?
GDP should have decreased if you think cheap forex is a good thing.
China did not move western companies from their base to start producing in china by just having cheap labour and favourable taxing.
They also did a lot of currency play and I mean a lot.

ahiboilandgas:
As advice by mr Emma ...is to hold diversified portfolio...investment mix ......mine 1 is my company (source of income for everthing) 2 fixed income ( bonds and euro bonds and tb (b4 crash) 4 dorm accounts ( euros and pounds ) 5 i brought some share (Gtb and zenith only)6 rental income ...8 i also buy land for futher appreciation (speculations )...no matter the naira depreciation....it will limit my lost...

Excellent!!!

ojesymsym:
Economics is not my strongest strength so in fairness, I won't be able to have a GDP kind of discussion with you.

But the ban policy worked for things like fruit juice, that was when juice like chivita and co set up factories in Nigeria. I think (not sure) the same thing was done for local production of biscuits.

Till today as me and you dey talk,they still dey smuggle fruit juice to Nigeria.
Imagine if all that market share being stolen by smuggled imports is no longer there for imports rather is left open to be occupied by local juice.
Imported Turkey still dey disturb market for home grown.
Imported and smuggled rice still dey Bleep local rice up till date
First thing is there won't have been only chivita,you would have been able to name up to 5 solid prominent juice companies by now.
Look at rice as case study.
Do you think if imported rice still maintained 30k pricing like 2016,Nigerians won't rush all this local rice going for 16k now?
I am not an economist too by the way,I no go school.

Theconglomerate:
But I think naira at 450-470 will build Nigeria by crushing imports and encouraging industrialisation sha.
CBN should only intervene when it hits 500 if you ask me.
A lot of people will have jobs and new markets will be created and existing ones like luxury and services will grow due to masses having more disposable income and more employment.

Heavy importation would still happen even if dollar is 1,000. Dollar has been rising from year to year but it has never had any effect on the rate of importation.

OgogoroFreak:
Heavy importation would still happen even if dollar is 1,000. Dollar has been rising from year to year but it has never had any effect on the rate of importation.

When you import at N1000/$,I'm sure you'll go and invoke all the dead people in your home town to come and buy at the price you will sell ba?
When you bring am once and nobody buys it,no be person go tell you not to go again
People were already switching to cassava when rice hit 33k in 2016.
These were things I saw with my eyes and many people can confirm this.

Bros calm down, lets to heat up this beautiful discussion.

Theconglomerate:
When you import at N1000/$,I'm sure you'll go and invoke all the dead people in your home town to come and buy at the price you will sell ba?
When you bring am once and nobody buys it,no be person go tell you not to go again
People were already switching to cassava when rice hit 33k in 2016.
These were things I saw with my eyes and many people can confirm this.

Godbpraised:
Bros calm down, lets to heat up this beautiful discussion.

This was no attack oo.
If was just a figure of speech to make the whole discussion humourous.
I'm sorry if anyone took offense,besides I wasn't referring to him but the importer that does that import at that time.

Theconglomerate:
When you import at N1000/$,I'm sure you'll go and invoke all the dead people in your home town to come and buy at the price you will sell ba?
When you bring am once and nobody buys it,no be person go tell you not to go again
People were already switching to cassava when rice hit 33k in 2016.
These were things I saw with my eyes and many people can confirm this.

It is always like that at first when prices go up but people tend to adapt with it after some time. And there are things you can't boycott cos no option. Things like phones, laptops and other gadget.

I started dealing on phones in lekki January this year. The increased in $ recently made me double the prices of phones I already have in Stock yet it all sold out.

OgogoroFreak:
It is always like that at first when prices go up but people tend to adapt with it after some time. And there are things you can't boycott cos no option. Things like phones are laptops and other gadget.

I started dealing on phones in lekki January this year. The increased in $ recently made me double the prices of phones I already have in Stock yet it all sold out.

Exactly.
You are right.
But then,phone importation isn't Nigeria's problem but importing things that we can produce here.
This way,Nigeria importation will be limited to things we can't do without like phone,medicine and very strategic things.
This is what Emefiele meant by "strategic import".

Theconglomerate:
I searched ahib oil and gas on google and found nothing except google redirecting me back to the only place the name exists,Nairaland.
I searched Josien holdings limited(JHL) on google and found a huge business concern that has giant warehouses,head office in Lagos and distributors nationwide.
How are these 2 things similar to you?
One can be verified by anybody and the other is just word of mouth said on the internet,typed from a mobile phone or laptop.
I hope I've cleared your doubts.

am telling what i know Ahib oil and gas is wort 500 million dollars ...info on google are posted by humans and are not verified and cerified by any organization

OgogoroFreak:
It is always like that at first when prices go up but people tend to adapt with it after some time. And there are things you can't boycott cos no option. Things like phones, laptops and other gadget.

I started dealing on phones in lekki January this year. The increased in $ recently made me double the prices of phones I already have in Stock yet it all sold out.

I agree cuz unfortunately our country is a consumer market that gives precedence to imported foriegn goods than locally made especially tech which we also do not produce