₦airaland Forum

Lalasticlala

Global slowdown in emerging market economies continues to impact Nigerian investment growth as both foreign and domestic investments plunged in recent months.

The data released by The Nigerian Stock Exchange (NSE) shows that Foreign Portfolio Investment (FPI) transactions at the nation’s bourse decreased to N69.33 billion (about $0.35 billion) in September 2015 from N81.13 billion (about $0.41 billion) at the end of August 2015; representing a decrease of 14.54%.

Domestic investors conceded about 6.72% of trading to foreign investors compared to the 11.38% they conceded in the previous month as Domestic transactions increased from 44.31% to 46.64% while FPI transactions decreased from 55.69% to 53.36% over the same period.

Foreign portfolio investors’ inflows accounted for 22.52% of total transactions while the outflows accounted for 30.84% of the total transactions in September 2015.

According to the NSE report, in comparison to the same period in 2014, total FPI transactions decreased by 69.42%, whilst the total domestic transactions decreased by 79.53%. FPI outflows outpaced inflows which was not consistent with the same period in 2014. Overall, there was a 75.15% decrease in total transactions in comparison to the same period in 2014.

Total domestic transactions decreased by 33.13% from January to September 2015. The institutional composition of the domestic market which was about 33.69% at the end of January increased to 59.32% at the end of September, whilst the retail composition decreased from 66.31% to 40.68% in the same period.

The increase in outflows of FPI has been linked to the overall perception of the economy by foreign investors due to emerging market rout, falling global oil prices and numerous sanctions on financial institutions and other corporations in Nigeria. Foreign investors are said to be wary of possible outcome of such decision, hence the outflow.

Also, domestic investors are struggling to adjust to several restriction policies by the CBN which made it hard to invest on a long-term basis. Therefore, they seems to be diverting their funds to more stable investments in order to curtail the gap created by the new monetary policy.

http://investorsking.com/foreign-portfolio-investment-plunged-to-69-33-billion/

wayodude:
Okay. So her skill set is in fashion design from which she made enough income to acquire an oil licence, yes?

Even though from your above statement she worked as a secretary while seemingly running the fashion business on the side .

She was working full time with Merchant Bank for awhile before she quit and founded her fashion company. Its not a side business, Supreme Stitches is popular.

How much do you think its oil licence? You will be surprise to know its less than a million, only refinery around 10M that is using current exchange rate. The thing is people assume a lot, you can check it out yourself. https://dpr.gov.ng/index/license-permit/

The truth is you can't teach Entrepreneurial skills, if its possible Robert Kiyosaki, Zig Zaglar etc would be billionaire while people like Richard Branson, Alan Sugar, etc. won't have billions to their names. Its about defying all odds and refusing to take NO for an answer.

wayodude:
I don't know much about Naija rich people, but please do you mind enlightening us on what skill set Alakija posses and how she may have apparently utilised said skill set in 'revolutionising' her industry? Many thanks

She took basic knowledge in secretarial studies and fashion design and founded a fashion business using few networks she made while working with merchant bank as a secretary to secure upscale clientele including Maryam Babangida. So basically she is one of the revolutionaries of fashion industry before she acquired an oil license in 1993.

veesion:
anyone can bcme a bilnare ovrnite if given d same OPPORTUNITIES wit most of d so cald bilnares (1) imagine givng me d sole right to imprt anythng mayb cement fuel or any fast line- dngte (2) imagine me fuckng a president and he rewards me with OIL BLOCKS- alkja (3) imajine a past presidnt floatng a bilion dollar company wit d country's money and and frntng me as ownr-adnga ,tny we knw who has got d stake in those coys and where d money came from wealth like these are neithr respctbl or sustainbl when d real owners (Nigerians) come 4 their it shal b a judgmt day

I beg to disagree, not because they don't have the opportunities but because they don't have the skillset. Been a billionaire require certain entrepreneurial leadership that people like Robert Kiyosaki lacked but people like Donald Trump have abundantly.

If you want to know the richest and most dynamic ethnic group in Nigeria, study the Ijebu people history. They have 3 billionaire (Mike, Otedola and Alakija) on the list and a lot of them have revolutionized their industry.

porka:
Is this how a minister of finance of any country in the world talks?

Forget about oil, bla bla bla...

What then happens to the minister of oil, who happens to be Buhari himself? Forget about him too?

Oh, we should forget about all the revenue from oil then?

What percentage of 'diversification' does she want to achieve in a month, a year, medium term, long term?

Every administration in Nigeria would want to diversify the revenue base. The last administration was doing something with McKinsey and Company on expansion of non-oil tax base, how is she going to utilize that? What is she going to do differently?

What about jobs? What about stimulating investments? You can't just be taxing companies that are not producing or that are barely producing. And you can't fine your way out of fiscal quagmire.

What about spending, recurrent and capital expenditure, what is her plan in that regard?

What about the most pressing duty/function right now - 2016 budget? What is she doing about it, when is it going to NASS? Or are they doing it behind her back? Does she know that November is winding down already?

There are too many things people are expecting from a finance minister than swearing-in ceremonial stories. What is the value of that sheet of paper she wanted us to hear to the economy?

Thank you bro, if she thinks she can sustain Nigeria economy with tax from states, she is a joker. Both MPC and CBN needs to re-evaluate their stance on forex restriction and adjust our interest rates to encourage local investments.

Standing5:
It could av been a negative value. Imagine the value if by now Nigeria had taken more loans, increased taxes, removed subsidy and privatized NNPC as proposed by PDP govt of GEJ. It would av taken more money out of the masses put it in the hands of a few crooked ones who will send it abroad and thus shrink our economy. Buhari has clearly reversed all that. Imagine how the Jonathan Admin would have fared if it didn't run on average of 108 usd /barrel of oil sales as against ~ 50usd/barrel under APC & Buhari.

But CBN needs to adjust its forex policy because Nigeria is a heavy import dependent nation and definitely need that aspect to enhance the economy and create jobs now that oil revenue is minimal. If CBN want to encourage local patronage, they need to provide enabling platform for local manufacturers/investors by first reducing interest rates on bank loans.

Our manufacturing sector is currently too poor to sustain our population size.

likila:
From 20% growth to 2%!
you dey happy?
Commonsense, you no get.

What 20%? Since you were born have you heard of 20% economic growth in a single quarter ?

Nigerian economy continue to struggle with falling oil prices as CBN refuse to adjust its Forex restriction policy to compensate for the deficit created in the economy due to fall in global oil revenue.

The data released by National Bureau of Statistics shows the economy grew by 2.84 percent (year-on-year) in the third quarter (Q3). A 0.4 percent points higher than what was obtained in the preceding quarter, but lower by 3.38 percent from growth recorded in the corresponding quarter of 2014 when crude oil was $80.96 a barrel.

During the period under review, aggregate GDP was N24, 313,636.94 million (in nominal terms) at basic prices, but when compared with the Q3 2014 value of N22, 933,144.01 million, nominal GDP was 6.02% higher.

This was as a result of increase in oil production in Q3 at 2.17 million barrels per day (mbpd), a 0.12mbpd up from Q2 production (2.05mbpd). Oil production was also marginally higher to the corresponding quarter in 2014 by 0.02 mbpd when output was recorded at 2.15 mbpd, according to the report released by National Bureau of Statistics.

Non-oil sector grew by 3.05 percent in real terms in the Q3, 4.45 percent lower than the same quarter in 2014 and marginally lower from the Q2 of 2015. The non-oil sector contributed 89.73 percent to the nation’s GDP, marginally higher from shares recorded in the Third Quarter of 2014 (89.55%), but lower from the Second Quarter of 2015 (90.20%)

Growth in the Non-oil sector was largely driven by the activities of Crop Production, Financial Services, Telecommunications, and Trade amongst others

http://investorsking.com/nigerian-economy-grew-by-2-84-percent-in-q3/

I was just telling someone about this Kemi Adeosun, she is inexperience and her screening was a disappointment to knowledgeable economic guy. I mean Nigeria has the largest economy in Africa with a 568.51 billion US dollars GDP.

jamex93:
saw that on net too

but no sure alternative yet

that can fully take over from coal

Plenty, plenty..The truth is coal investment is reducing greatly, and by 2020 it will be fuel of developing and underdeveloped countries that can't afford renewable energy. Presently India is the only country its says is increased so far this year, so its near impossible to get any reasonable investor to invest in such.

Its a bit late now, currently the world is campaigning against the use of Coal as a source of power because its the most polluting fuel. In fact, countries like U.S, China etc are reducing their coal planting and encouraging the use of renewable energy.

US already have plans to close the remaining 200 coal-fired plants soon.

Kx:
Come to think of it, does it mean I ll submit my BVN to a BDC operator while buying dollars from them?


Is dat not worse than submitting to an online click away scammer?

So, how are we sure the BDC operators are not BVN bank for fraudulent purposes?

CBN managing Nigerian economy as if it's a economy of highly educated 100 peopled population.

Even BDC operators can use your BVN to register transaction for dubious politicians and that does not exclude banks

Everything in Nigeria lack logic, no proper planning. God!

darlenese:
So this is malaysia

Its a pity people leave Nigeria to a dirty place like this all in the name of " I am living abroad" rubbish
Its Better u all start coming home jor , see how they look sef

This is not Malaysia, this is India

Attached is Malaysian police

ERONX:
Never knew Malaysia was this dirty

This is not Malaysia, this is India. The op is a liar, saying his brother is there yet posting wrong information.

Owoplenty:
This is the Spanish clothing magnate Amancio Ortega 79 that floored micro soft founder bill gate for the first time ever in the forbe rich list

It was briefly when stock in his holding company Industria de Diseño Textil reached an all-time high of 33.99 Euros per share on Friday. Gates has since reclaimed the top spot after Ortega’s shares slipped slightly to 33.80 Euros.

Its not the first time ever, its the first time for Amancio Ortega. Carlos Slim and Warren Buffet were on top previously, their net-worth fluctuate with their company's stock price.

Mazi Nnamdi Kanu’s Ex-Girlfriend Chioma Amaryllis Accuses Him Of Using Biafra To Dupe The Igbos. The former girlfriend of recently arrested Radio Biafra founder has exposed his fraudulent activities.

US-based Chioma Amaryllis, a former PR coordinator for Radio Biafra alleged that Kanu is misleading gullible Igbos and collecting money from them to sustain his lavish lifestyle.

Hear her:

“I am Chioma Amaryllis I live in the USA but I am from Mbaise in Imo State, a proud Igbo woman. I had a relationship with Nnamdi Kanu as he presented himself to me in the US as a single man. I hope that the point I am trying to make about Nnamdi Kanu will take precedence. I am telling the truth about Nnamdi Kanu & Radio Biafra as I saw it and closely witnessed”

“It is easy enough to live in Malaysia, China, Japan, Indonesia and donate money to Radio Biafra”
“I bought and paid my ticket from the USA to Nigeria for Radio Biafra to see things for myself”
“I was donating my savings in the USA to Radio Biafra for defence & all forms of funds”

“As Nnamdi Kanu’s girlfriend I went to Nigeria myself I wanted to see what Biafra was about”
“It is not enough for Ndi Igbo’s to get excited by someone you hear on the radio, verify”

“I don’t want Igbo’s in diaspora to believe me, buy your ticket like I did and see Nnamdi’s lies. Go back home to Igbo Land and do your investigations, don’t be deceived”

“Money was being collected by Nnamdi Kanu, huge money from genuine people & misappropriated,” she said.

Nnamdi Kanu collected huge donations to build a cenotaph for Ojukwu but never did. A lot of donations to Biafra went down the drain & I have a right to speak out because I contributed.”

“When Nnamdi Kanu asked for $8 million to start in 2014, I took a step back knowing Ojukwu used his own money for Biafra. I am unhappy people are being tricked to donate money using Biafra as a cover.”

http://welovegist.com/mazi-nnamdi-kanus-ex-girlfriend-chioma-amaryllis-accuses-him-of-using-biafra-to-dupe-the-igbos/

The whole screening is a farce and a sham

Drop your skype ID.

If you are a forex trader or you want to learn, you can join us on skype where we will be analyzing various financial markets using both technical and fundamental techniques. I am a huge fundamental trader and would be analyzing global markets in relation to currencies and their economic outlook.

Join us by dropping your skype ID.

CSTR2:
This one is serious .
She just came across as a breathe of fresh air to me. She may not be in the class of okechukwu enemelah, but she was the most technical of the entire bunch that screened.

Okechukwu Enemelah is a market trader cum analyst. Usually traders are more in tune with economic fundamental/technical, and can devise appropriate economic policy as at when due.

vislabraye:
Kemi Adeosun is smart in her own way. Just like you, I'm not 100% convinced she is the best hand for that job. I'm sure she used phonetics finish all of them.

I actually like her British accent

CSTR2:
I watched the youtube video. I really don't see what the hype is all about.
There is nothing new about anything he said. He is a former governor and so is not new in giving speeches on general improved governance.
I was more impressed with kemi adeosun. She went into some very technical specifics and i think her questions were relatively more difficult than fashola's.
She also had the advantage of being cute too.
Kemi adeosun was the best for me, atleast for now.

Kemi Adeosun that does not understand global economics, and explained FDI like a secondary school student. Couldn't even explain diversification in a clear term, trust me she does not understand national/global economic matters enough to manage an institution as big as Ministry of Finance (Nigeria). MPC interest rate is 13% she said 20%, too many inconsistencies.

2point5:
Oga Enyi, my mom is ikwerre and dad ndoni, so I am full niger-delta. If you are ikwerre as you say, you will never bash the igbos outside as you have done, because whether we like it or not, these people you are supporting here will call you igbo when the chips are down. Even deep in your heart you know we are brothers with the igbos, spitting on them is like spitting on yourself. I despised being called igbo growing up in phc because of people like you, even when I knew deep down we and igbos are one. When I served in lagos, I was called igbo and couldn't do anything about it.


Back to the matter, why did the deji invite the eze in the first place? Isn't because he carries some authority across his igbo people? So what is wrong if he dresses in his regalia? Moreover, the story says he prostates to the deji. What other show of allegiance is bigger than this? I don't understand this yorubas really.

So you want him to lie because whether he like it or not he is an Igbo man? That is the problem with people like you, you rather be second-class citizen in your own country because you want to associate with certain tribe.

Why would the Eze preside over such decision when the market consists of both the igbos and natives? I am surprised you see nothing wrong with such stance, I repeat he has no right to make such decision.

Nigeria inflation rate increased from 9.3 percent recorded in August to 9.4 percent in September.

According to the National Bureau of Statistics (NBC) the Consumer Price Index (CPI) which measures inflation rate increased as a result of higher food and non-food divisions-Alcoholic Beverage, Tobacco and Kola; Clothing and Footwear; and Housing, Water, Electricity, Gas and Other Fuels divisions which contribute to the surge in consumer prices.

However, this surge in prices may have been due to Muslim holiday and increase in cost of production as a result of Forex restrictions by central bank on certain importations.

Core CPI increased by 8.9 percent in September compared with 9 percent recorded in August, which is most likely as a result of slow demand in textile, fuels and lubricants for personal transport equipment, hotel accommodation services and miscellaneous goods and services divisions.

The Food Sub-index recorded a marginal 10.2 percent (year-on-year) in September from 10.1 percent in August, signaling increase in prices in major categories such as Meats, Fish, Bread and Cereals; Oils and fats groups.


http://investorsking.com/nigeria-inflation-rate-increased-9-4-percent-in-september/

ibedun:
Please explain?

I can't understand how fiscal policies could offset the exchange rate/currency issues cause by drop in oil price and the reckless depletion of reserves accrued from the recent oil boom.

He doesn't understand what he is saying, we have monetary policy committee (MPC). He just like to comment without knowing fundamental cause of the situation, MPC are the people that formulate fiscal policy.

abagoro:
Lol! To the enterpreneur its about profit; to the employee its all about job and wages. What a clash.

A country where employees have rights

Air France staffs took law into their own hands on Monday, during executives meeting where managers were presenting plans to cut 2,900 jobs.

The human resource chief, Xavier Broseta and the head of long-haul flights, Pierre Plissonnier, scaled an eight-foot tall fence to escape angry protesters, Plissonnier shirt was shredded while Broseta was shirtless by the time security guards helped them to safety.

According to the Airline work council, 900 flight attendants, 1,700 ground staffs and 300 cockpit crew might have to go. The management resolved to force dismissal since all talks to convince pilots to work more hours for the same pay to help end annual losses that began four years ago failed, forcing them to take drastic step that has never been implemented since 1990s.

Under the strategic saving plans announced today, the airline fleets would be reduced by 14 jets and aging Airbus Group SE A340s phase-out, while orders for Boeing Co. 787s scrapped.

Also, the airline plans to stop plying some routes, especially in Asia where competition is toughest, 22 destinations would be affected based on the announcement made after the incident.

However, according to French legal requirements, job cuts couldn’t be implemented until mid-December giving the two sides two months to devise an alternative method should negotiations resume.

An attempt by the Chief Executive Officer Alexandre de Juniac to establish a low-cost airline outside France last year to curtail losses, caused two weeks strike by pilots costing the airline a total of $564 million before government intervened.

http://investorsking.com/air-france-executives-attacked-during-plans-to-cut-2900-jobs/

vascable:
do yo own research and lets compare

You didn't do any research, you made up all these to attract people to your blog. Kuala Lumpur to Australia is 8 hrs 43 minutes, you said 4 hours. Nigeria in Malaysia are less than 46,000 if we are to minus those that return home through back door it would be lesser.

Australian are expatriates here, they don't even care about Nigerian girls. If you know how much is $10,000 in Malaysian Ringgit, you won't lie Nigerian girls earn that much a month.

meddybrown:
Thanks for the reply dear. I am not going there to work just to study. And I have found a school limkokwing university Malaysia. We have limkokwing in about 5 countries including UK. I am just asking if I can get a tourist visa to Indian or china from Malaysia during semester break to get few goods to send home to my family in naija. I hope you understand me well now. The question is that is it possible to visit country like china and India during my semester break in Malaysia
Thanks.

Bro if you are a student, you can apply for any visa to anywhere. Limkokwing is good, they have uk degrees.

PETALING JAYA — A Nigerian student died shortly after he was beaten by residents of Flora Damansara apartments for attempting to rape a resident on Wednesday.

Petaling Jaya police chief ACP Azmi Abu Kassim said the suspect died at the Mutiara Damansara police station an hour after a policemen took him into custody.

“We received a call from the security manager of the apartment who informed us of the incident.

“When police arrived at 8.20pm, the suspect was surrounded by 20 to 30 people and his hands were tied,” he said.

The policemen were told the suspect had attempted to rape a woman inside a lift.

“The victim put up a fight and screamed for help as the lift door opened and several men who were in the area caught the suspect.”

The suspect was then taken to the police station at 8.45pm.

“He was fine and he even walked into the station accompanied by policemen.”

The victim, accompanied by a man, also went to the police station and filed a report.

“The victim identified the suspect as the man who attacked her,” he said.

While waiting to be put in a holding cell, the suspect was handcuffed and lying on the floor.

“However, we found him unconscious when one of the officers checked on him. A medical officer examined the suspect and pronounced him dead,” he said.

Azmi said the suspect had injuries on the right side of his head, and had scratch marks on his legs and hands.

“We are waiting for a post mortem report.”

http://www.themalaymailonline.com/malaysia/article/nigerian-dies-from-beating-over-attempted-rape