₦airaland Forum

Breaking News:

Reports reaching Nairametrics indicate the central bank has given commercial banks and dealers in the forex market the green light to sell forex freely which is at a market-determined rate.

This is in line with the promise of President Bola Tinubu to unify the multiple exchange rate in the market.

The initial understanding of this message is that banks can now sell forex at market-determined rates, suggesting Nigeria is now operating a freely floating exchange rate.


https://nairametrics.com/2023/06/14/breaking-banks-told-to-trade-forex-freely-in-nigeria/?amp=1

Tuition fees will be introduced in all public higher institutions.

This will lead to an increase in school fees, I told you guys the government is trying to remove education subsidy.

https://dailytrust.com/students-loan-fg-to-introduce-tuition-fees-in-varsities/

Spy360:
Kindly explain the chart

This particular pipeline was shut down throughout the whole of last year because of crude bunkering.

It is one of Nigeria biggest oil pipeline, 400 illegal connections were detected and removed last month of April, and there was a 24 percent surge in the corresponding month of may.

😎😎

OasisX:

This one is hustling for appointment.

An American returnee, don’t know why but something about this guy just seem off.

OasisX:


They have deleted all drugs related tweets on Tinubu on their platform. People on the other side couldn't able to renew Subscription.. LMFAO

They have now concentrated on chasing their lost manh**d

gallivant:
Damn is right!!

In just two weeks, the man has introduced some of the biggest government reforms in Nigeria

Damn!!

https://www.bloomberg.com/news/articles/2023-06-13/nigerian-stocks-jump-to-15-year-high-after-emefiele-ouster?utm_source=twitter&utm_medium=social&utm_content=africa&utm_campaign=socialflow-organic&cmpid%3D=socialflow-twitter-africa

The highest since 2008!!!!!!!!!!

https://www.bloomberg.com/news/articles/2023-06-13/nigerian-stocks-jump-to-15-year-high-after-emefiele-ouster?utm_source=twitter&utm_medium=social&utm_content=africa&utm_campaign=socialflow-organic&cmpid%3D=socialflow-twitter-africa

BREAKING: HON. TAJJUDEEN ABBAS IS THE 10TH NATIONAL ASSEMBLY SPEAKER

Akpabio is the new senate president

BlaqFaze:
You can't be paying 45k for school fees and tell me it's not subsidised.... c'mon

I really do not understand some of the arguments.

liveLongNprospa:
Lmao please let's not get into this argument again about education being subsidised.
What we get compared to what people in saner climes get is light and darkness.

Unilag school fees is 30,000 per semester?
Should we do this for all the courses in Unilag?
Or you picked the lowest paid course?

We don't have subsidised education in our universities.
We don't have jobs as I speak with you.
So when you have people take student loans, what are they graduating into for this repayment?

The idea is nice but it is not important at this point.

Apple and oranges.

Your argument has no head or tail, I don’t even understand what you are talking about.

Are you disputing that Education in federal and state university in Nigeria is subsidised or what?

Are you disagreeing and disputing with reality and fact or what?

The rest of your statements lacks meaning, they look more like meaningless rant to me.

Foreign investors on Meffy’s removal and possibilities for the Naira here on.

liveLongNprospa:
Lmao there's no subsidy on education because we are not getting any thing premium in education.
We are paying for the exact education we get.

Lmao.

What is the thing that is being subsidised?

Lmao, you are not serious.

Unilag school fees is around 30,000 Naira per semester.

Nigeria trained doctor’s are highly south after overseas, if the subsidised education they receive in nigeria is not premium, nobody will want them.

If you want to critique a government policy, please criticize on substantive matter not on a ridiculous notion.

It makes you look like you don’t know what you are saying.

liveLongNprospa:
Again there are barely jobs available.
For me this is just a nice talking point but the scaling is impossible because you'll just add more to what the poor are passing through.

For now, student loans are not close to being a priority.

You still don’t get it.

There is already a subsidy on education, the government has always been paying some sort of “loan” for your education at the federal and state level.

They are just transferring this loan for you to pay back, it’s a capitalist move.

One area I’m not very sure in the bill though is the CGPA part, the loan will be tied to your performance in school. So if you perform well in year 1 and 2 but your grade plummet in year 3 will the government stop paying?

So what then happen to the previous year payment?

I’m still seeking clarification on that sha

liveLongNprospa:
But the bill doesn't plan to invest unless I missed it.
So again higher education for a poor population with barely any jobs available

It is.

By making sure, every Nigerian irrespective of their social standing have an opportunity to get “Quality” education.

The key word here being Quality education, not the quasi nonsense being taught in federal universities nowadays.

liveLongNprospa:
So removal of subsidy.
Introduction of student loans which probably means increase in school fees incoming.

So again wetin poor Nigerians go gain?
Lets not for we barely have jobs in this country too

I’ll rather government invest money in Education than Invest in PMS consumption.


A society that invest in its Human Resources can never go wrong.

Higher institutions will now be able to recalibrate their entire structure to be able to compete globally.

What this bill is doing is just substituting Education Subsidy with Student loan.

It’s very obvious we can't continue with the psuedo socialist government with our bloated population and dilapidated infrastructures .

larride:
Thank you.

Link broken

Copy the whole link and paste on your browser

larride:
Tinubu today has signed the student loan bill into law. The bill seeks to provide interest free loans to indigent Nigerian students.

The bill was sponsored by Speaker Femi Gbajabiamila.

I can't wait to read the content of the bill and the framework to make it work.

Here you are

https://placbillstrack.org/upload/HB%2006.pdf

Spy360:
My point is you are rejoicing over frivolity and celebrating mediocrity.

We should only celebrate results of deliberate and calculated government interventions.

Now you are just being disingenuous.

You are trying to speak from both sides of your mouth.

I was celebrating the news that the suspension of the CBN Governor will not have a negative impact on the market as some people were speculating.

It’s not my fault If you continue to see negativity in everything including Good news.

Chadian Air Force Mi-171 (Reg: TT-OAO) heavily armed with 6x B8V20 rocket pods that fire 80mm S-8 unguided rockets and AN-74-200.

President Bola Tinubu, inspects Guard of Honour at the Forecourt of the Presidential Villa in Abuja as part of activities to mark this year's Democracy Day

Viewers discretion advised.🩸🩸

Nigeria Airforce eliminate over 100 boko haram fighters.

Nigerian Airforce eliminate over 100 Boko Haram terrorists in Mandara Mountain

By: Zagazola Makama

Over 100 terrorists from the Jamā'at Ahl as-Sunnah lid-Da'wah wa'l-Jihād(JAS) Boko Haram faction, have been naturalized in the long week coordinated strikes by the Nigerian… pic.twitter.com/LUgnljVOMr

— Zagazola (@ZagazOlaMakama) June 12, 2023

Exnavyboy62:
I like your composure and reluctance to join the insult frenzy despite being provoked. You just responded with the smiling emoji, it shows maturity on your side. Sorry you're going to have to stick with us like that on the thread, we Nigerians be crazy upstairs at times🤪. I think this is one of the many reasons Kabe1 left this thread. Unnecessary arguments and too much derailing.

Speak for yourself please, I’m not crazy upstairs.

Spy360:
Lol.

Does 🔥🔥🔥 include the news that naira may weaken to the dollar?

Even though I am of the opinion that corrupt people should be prosecuted, it does not translate to good economic policy or growth. Let's have sense.

Exchange rate harmonization does not translate to economic growth or what are you spouting??

🔥🔥🔥

liveLongNprospa:
So wait... Tinubu just threatened the judiciary 😂😂😂😂

Is this a threat?


“It is about the rule of law and vibrant judiciary that can be trusted to deliver justice and strengthen institutions. It has become imperative to state here that the unnecessary illegal orders used to truncate or abridge democracy will no longer be tolerated.

“The recent harmonisation of the retirement age for judicial officers is meant to strengthen the rule of law, which is a critical pillar of democracy. The reform has just started,” he said.

🔥🔥

https://www.bloomberg.com/news/articles/2023-06-11/nigerian-ouster-of-central-bank-governor-seen-as-market-positive?utm_source=twitter&utm_medium=social&utm_content=africa&utm_campaign=socialflow-organic&cmpid%3D=socialflow-twitter-africa

😂😂😂

GeneralDae:
Not confirmed yet from my end. I think it's fake news.

Fake news from overzealous fingers😁

Top twenty changes introduced by Finance Act 2023:

1.Education tax increased from 2.5% to 3%

2.Excise duties has been introduced on services provided in Nigeria, including telecommunication services

3.Import levy of 0.5% has been introduced on all eligible imports from outside Africa

4.Capital gains tax is now applicable on digital assets such as cryptocurrencies at 10%

5.Investment allowance of 10% previously claimable on capex and leases has now been terminated

6.Rural investment allowance ranging from 10%-100% that was previously offered for provision of infrastructure and amenities in rural areas have now been stopped

7.Tax exemption on income from convertible currencies by hotels is no longer applicable

8.Penalties for various contraventions of tax rules by petroleum companies raised by 1000x

9.VAT withholding agents are now expected to file returns on or before 14th day of the following month

10.Artificial transaction rules now applicable to VAT, empowering tax authority do disregard transactions not arms’ length

11.Capital losses incurred on disposal of chargeable assets are now deductible from capital gains with possibility of 5 years carry-forward

12.Roll-over relief now available me for gains on disposal of shares where proceeds are reinvested within same year

13.Downstream and midstream operators to enjoy unrestricted capital allowance claims (just like agro and manufacturing companies)

14.Relief for premium paid on life assurance policies and deferred annuity schemes

15.Deductibility of decommissioning and abandonment cost by upstream companies

16.Non-resident suppliers of taxable goods sold on digital platforms to account for VAT chargeable on the goods if they have been appointed as tax collection agents.

17.Definition of building now exclude movable fixtures under VAT law

18.Requirement for certified financial reports by non-resident shipping and air transport companies and presentation of tax clearance certificates for any application or permit

19.Pre-operational filing requirements for petroleum operators before commencement of bulk sales or disposal of chargeable oil are within 18 months from the date of incorporation (for newly incorporated companies) or within 5 months after the accounting period for any other company

20.Sharing formular for Electronic Money Transfer Levy set as 15%, 50% and 35%: FG, SG & LG respectively.