NewStats: 3,264,542 , 8,184,043 topics. Date: Wednesday, 11 June 2025 at 01:08 PM y4h67

obawinner:
Some of the credits from subsidy removal is increase in federal allocation.
Hold your state government and local government able.

I come in peace.

All states and national budgets increased in Naira but decreased in Dollar so there's no much difference.

Our national budget last year was $50b, this year its less na 30b$

In Naira , last year our national budget was around 20 trillion naira or so, this year its 28 trillion naira or so.

ambale:
Only God knew how we interpret this religion of a thing in this country

Imagine a very poor state like sokoto spending this much on feeding

Nigeria will continue to be a very poor country with leaders such as ours

Just to add to what you've said.

Illiteracy level in Sokoto is more than 90% from official figures.

That money is better of in the education sector

Mohisah:
Same US wer school shootout dey happen? U better reason of better country like Russia, Sweden etc

Just to add to what you have said.

Last year 44,000 people were killed in US due to crime/gun violence, 15,000 in South Africa, official figures in Nigeria was less than 5,000.

Bluntemperor:


God bless you brother!
These so called Mega- companies are part of the troubles in Nigeria today!

The best way to break the monopoly is very simple.

Our current consumption for cement is around 50 million tons per annum or so. Dangote is currently supplying around 30 million tons. Total installed cement plant capacity from the big 3 cement producers is around 50 million tons

We need Investors to build an extra 50 million tons capacity over a period of 5 years taking our installed cement plant capacity to 100 miliion tons(assuming the big 3 wont expand).

When you have like 8-9 cement producers with 100 million tons cement capacity fighting for a market consumption of 50 million tons, competition would be so high, prices would collapse.

A 1.2 million tons per annum plant can cost up to $70m(without cost of power plant or mining operations factored). So if we are to build up to 50m tons of new capacity, you are talking of more than $5 billion. Cement business is very capital intensive that's why many cant go into it.

Other big Invetsors have started entering the cement business. Its just a matter of time before the monopoly would collapse

ibrocool:
As expected, the demand for BUA cement increases due to the reasonable price. But the sad reality is the retailers are busy re-bagging to Dangote cement and selling at high price. That is why it looks as if BUA cement does not exist in this country.

A few years, we conducted a research on Dangote, BUA and Largarge. We found out that Dangote cement has depots in almost all the states and FCT. BUA and Lafarge were lagging way behind. Dangote has a larger and more efficient distribution network.

Also, in of production capacity. Dangotes share is around 60%, Bua and Largarge are on 20% each but in recent years BUA has been expanding AGGRESSIVELY with 3mtpa plant in edo and 6mmtpa in sokoto.

Lastly, 3 of them are overcharging Nigerians with ridiculous ex factory prices.

It's unthinkable that the 3 of them have an average gross profit of more than 50% per bag of cement. Larger cement producers globally have an average gross margin of around 15%-25% per bag/ton.

emerged01:

Has dollar been fixed ?

Technical yes. The recent CBN directives on bringing back BDCs and selling dollar to them mirrors what emefiele/buhari did. The CBN directive of 5% cap on movement of dollar rate on the Nafex window is also another form of "dollar fixing"

Kudducini:
The problem here is working in a Chinese factory, these people has no human sympathy.

Any factory owned by a foreigner in nigeria is a No for me.

Just to add to what you have said. A lot of times, most of those factories that you see Chinese are not actually owned by Chinese, a signifcant number of them are owned by Nigerians but the nigerian owners outsource "Operations and Management Services(O & M secices) to the chinese.

There's a company I know of that pays almost $250,000 a year to the Chinese company that supplied their factory equipment to provide O & M services.

Nigeria, Pakistan and Indonesia have some of the the largest Muslim populations. In fact, Indonesia has the largest Muslim population in the world

Nigeria has a population of 230 million with a National Education budget of $2 billion

Pakistan has a population of 250 million pr so with a National Education budget of $600 million last time I checked

Indonesia has a population of 280 million with a National Education budget of $30 billion

Indonesia, despite being the largest Muslim nation has very low Islamic insurgencies because it has a very vibrant education system. Indonesia education budget is larger that Nigerians annual budget. Its annual budget, last time I checked was almost $200b. Nigeria and Pakistan that have refused to invest in quality education have citizens with the most radicalised ideologies.

The best way to fight of Islamic terrorism and all their ideologies is to invest in quality education

nlfpmod:


https://punchng.com/just-in-cbn-may-increase-bdcs-share-capital-to-n2bn/

Politics aside. This is very commendable.

Bringing back the BDCs and "strictly regulating" them would help stablise the black market.

It happened in 2016 and 2021.

In addition, increasing supply of forex to the official market would also help.

Faiththatworks:
I'm sure the people writing this article don't have a binance ,they just come online and report fabricated stories to scare people.
I bought usdt now on binance just to test if there's any ban on purchase and I sold some usdt on Monday without any issues.
I repeat what I wrote earlier today, binance is one of the major manipulators and speculators of our Currency,the Naira.
The rate at which they manipulate prices on that exchange is criminal,infact they are worse than the BDC.
Like someone wrote on a comment I made, yesterday it was 1700 to 1$ usdt,today it's near 1800 and I'm sure tomorrow it will be 1900.
I ask again,which economic activities are they doing that allows the exchange manipulate the Naira so blatantly,it's economic Terrorism.
Let binance show Nigerians the economic indices,the Algorithm,and the individuals in the Binance Economic Team that determine the daily value of the Naira to any crypto.
It's very very absurd for any entity to have the right to just wake up every day and assign a value to the Nigerian currency without having any methodology known to Government.
I believe that's what is called speculation.
Binance is very useful to me but I will never ever encourage the daily speculation going on in that exchange.
Binance must subject itself to some form of government regulation if it wants to continue operations In Nigeria,infact like I said earlier it must fix it's crypto value to the daily exchange rate release by the CBN,not the crazy bureau de change operators.
This is time to take patriotism over profit.
God bless my country Nigeria........

2 bottles of stout and nkwobi for you.

You've said it all.
Binance should only quote rates that are approved by CBN.

Anything else is economic terrorism

jedisco:


The irony he had failed to see. How can the miniscule volume on Binance be the one driving the wider market? That rarely happens.

How much forex is generated from over 1m barrels of crude sold daily that its now $1.5m that's having such a profound effect. USDT now serves as a way for the ordinary tech savvy citizen to protect their buying power else poverty comes knocking.

Nobody is mentioning the effect of over 27trillion naira the last government manufactured out of thin air or the excessively expensive loans that were taken up.

Exactly. I totally agree with you

motymop:


why do I have to keep explaining to you that USDT isn't dollar or cant be used for international trade

USDT is a trading stablecoin and can only be used for speculative activities

Nobody is buying usdt to buy oil or to import goods or to pay school or medical fees, if they were really doing that then there will be demands for it to the tune of millions of dollars

In nigeria, the 24 hours volume of usdt on binance is just about $1.5m, that is enough to show that people arent demanding for it like you think in your head.

Traders are just playing a good game, speculating on it and making huge profit from from arbitrage trading

God bless you. You know what you are saying. You just mentioned that binance did/does $1.5m in 24 hours(less than $10m per week. At the NAFEX window over $200-400m is traded per week.

That tells you that Binance is actually used for stupid speculation.

Elliotwaveforec:
Don't plan, just do the needful immediately! Block Binance, Kucoin, and other crypto exchanges now. The manipulation is too much.

Well said. Personally I think Government should bring both bdcs and crypto platforms under control.

Bdc and crypto platforms should only quote rates approved by the government.the manipulation by these elements is too much.

If cbn rate is 1,000. Crypto platforms and bdc should quote a rate with a maximum of 5%, in this case 1,050.

seborrhic:

Funny enough I am seeing the hand of God in this
This is because BAT is just being exposed and disgraced not just as being grossly incompetent,but for being hypocritical because same subsidy he rallied against GEJ,claimed does not exist,but is not only going behind the back to pay,after having stupidly floated the ₦ at the same time,but is now paying at least double what other presidents ever paid.
Who says God doesn't exist indeed!

I come in peace. God doesn't give a damn about Nigerian politicians and citizens . He has better things to do than waste his time on a country like Nigerians.

God1000:
Another assassination, Putin is such a bad man, he doesn't want anything like opposition in Russia.

That was how the leader of Wagner group died in a helicopter crash last year.

Plane crash not helicopter

Paramount01:
Can't parallel market be abolish? Just asking I am confuse

Parallel market is created as a result of the inability of the average nigerian to get fx at the official channels easily. The best way to kill parallel market is to make Dollars "easily and readily available" at the official platforms.

I recently applied for fx at the cbn monitoring platform at the end of january. It's been over 2 weeks now. I could easily source that same amount at the parallel market in less than 24 hours but at a higher price.

We need to increase our exports which would lead to net accretion to our foreign reserves and therefore improve liquidity. To put this into context developing countries are advised fo have at least 9 months of their yearly import value in their foreign reserves. Nigeria has around $34b which can cover at least 6 months of our imports in nominal but the reality is that the bulk of our reserves is not even liquid.

muyico:
no China and Russia university, no Muslim university among! fake update

No 95 is Russian. I counted up to 2 Chinese universities. The list is sha bias.

I come in peace

Gbadugbakun:
No Russia university made top 100. Yet Russian engineers are considered as one of the best in the world. America and her allies just shared the rating amongst themselves.

No 95 is a Russian university.

The list is bias sha

IrepChrist:
Nigeria needs leaders that can create wealth. People that can think outside the box. We have the potentials but we lack visionary leaders.

Well said. The potential is there but we have visionless and clueless leadership

Gerrard59:


Apart from Ghana and South Africa, I don't see which country Nigerians prefer charging less than that for foreign students (undergraduate). In fact, with the reduction of foreign students' slots by most Western countries, the option pool declines further. The places where 15K USD would go a long way as a foreign undergraduate from Nigeria are: South American countries, Japan and South Korea. I don't see the point of studying in India as it is a stoopid option. Malaysia would have been better, but offers fewer post-school opportunities. To get visa to Eastern European universities na war.

Wigwe University (its name) would thrive. Unlike the American University of Nigeria (owned by Atiku), which is located in the north, his is in the south (the source of students eager to study and parents willing to spend).




But students are currently in Madonna, IU in Benin, AUN, Landmark, CU, ABUAD, Babcock etc. It would have customers. In fact, those who could have gone to AUN would study there. Baze is thriving to date. Wigwe's influence would make the graduates acceptable in corporate Nigeria, as Access Bank doesn't employ graduates from most state universities. The future is bright. As our private universities grew in strength, reputation and the naira plummeted, few Nigerians went to Ghana. So, the tale about studying abroad because of work study is weak as most are postgraduate students. Mind you, the university doesn't need plenty of applicants sef. See my comments about getting visa to Eastern Europe, which was a major competitor to private universities in Nigeria. Except for the uber-rich, very few families sponsor their children to foreign universities as undergraduates.

I agree with you. You made some solid points especially on the siting of the university in Southern Nigeria where you find the highest purchasing power of Nigerians.

On the flipside. You mentioned my university. I graduated from Abuad(Afe Babalola Uni). As at then our fees was 1.5m per annum(2 bed accommodation) for civil engineering 2015 but i heard now its like 2-3m or so.

pansophist:


What's the name of his university? Does it have lots of student?

Instead of paying 15k usd a year to study in Nigeria, I'll go abroad and I'll even spend lesser with all the benefits of studying abroad.

Wigwe university. Its currently under construction in rivers state. They are to start the first ever session in September 2024.

I agree with you. The major reason why Nigerians go abroad to school is more about the benefits anout schooling abroad such as work study programs, employment after school, security, networking. etc.

bigtalla:
This is quite unfortunate.. Just days ago, i was discussing with a colleague how it was unfair for Wigwe's university to be charging tuition fees in USD while situated in Nigeria.. Indeed, na next-of-kin go chop that money

I thought the same as well.
The issue for me about the university is not even the fees being charged in usd. The bigger issue is the school fees itself which is approx $15k per student on average. Over 15 million making it the most expensive university in Nigeria i believe and maybe africa who knows. I was wondering why would any one want to spend such amount in Nigeria which is almost the same amount as enrolling in a foreign university. But then the market is there for the university. Nigerians spend over $3b yearly on foreign education. I wish them all the best going forward.

Tranquility2345:


You. Educate me? You must be very dumb for making that statement. For your info, Mark Zuckerberg’s shares have voting powers that give him control over Facebook. Elon Musk certainly no longer has full control of Tesla since selling his shares and is now seeking to get more shares to give him back full control.

I can tell you for a fact that I will comfortably feed you, your mama and your father and entire family for years until you all die. You can never look me in the eyes if you saw me in real life. Walahi!

Imagine a church rat like you telling me I will die poor? Hahaha. When that poverty wey dey consume your life no gree stop, just making that statement to somebody that can save your entire family…

You understand what i mean by control of a company in of policy direction and operations but you choose to be stupid. And yes you would die poor since you don't want to learn.


Abis, a nairand member gave me 18 million naira when I put on that request to clear my goods at onne.
I'm loaded now boy. My cassava- ethanol project and business consultancy company is back on track..
Find me at 63 Emekuku Street D-line PH. Come to my office tommorrow morning if you can. 10am so I'll entertain you. Just come no too much talk.

I drop my case.

Tranquility2345:


How can you call the shots with 5%, when the other shareholders can collude and override you? There are ways that these people control their companies through direct and indirect shareholdings. Go and do your research and stop misyearning if you don’t know how stuff works..

That's why you would die poor since you don't ever want to learn. Elon musk owns 25% or so of the shares in Tesla valued at over 200 bullion dollars. Doesn't he call the shots at Tesla with 25% stake?

No doubt, tesla shareholders can override his decisions im a vote. But once you are in good with your other shareholders you would call the shots. Elon musk decides what goes on in Tesla in a daily basis. No doubt the other 75% Tesla shareholders can remove him tommorrow morning if they feel like.but get the message I'm tryimg to you dimwit.he retains large control of the company's operations and policies.

Same with Zuckerberg. He owns less than 50% in facebook/Meta. Doesn't he call the shots at facebook?

I blame myself for trying to educate you.

Tranquility2345:


That’s not how it works….

You must own at least 50% of a company (directly or indirectly) to control that company…

We are on the same page bro. Yes having more than 50% gives you total control of the compny with voting rights. But In a situation where no one has more than 50% in a company, significant shareholders with stakes above 5% call the shots at the company. That's what I'm saying. We are on the same page.

Goodnight

Tranquility2345:


11% to take control of a bank? Please give yourself a konk on your bald head for that hopeless comment

Lol. Relax. I come in peace. Let me explain what I mean by "take over control" .

Otedola with less than 6% stake in First bank is now the new Chairman of the bank and would most likely call a lot of shots at the bank. That kind of control.

Elumelu as at the last time I checked held less than 15% in uba. Dozie holds less than 15% too in zenith and both of them hold significant influence on both banks.

In the investment world, once you hold more than 5% in any company you are tagged a "significant shateholder".

Originalsly:
Hmmmm..... he was probably going to the Super Bowl..... they ran out of parking for private jets so I guess he took a chopper.

My thoughts exactly

omoadeleye:
What a tragedy.

So i guess the future of access bank would be impaired by now.

Last time i checked, He owns 8% or so in access bank now access holdings. Stanbic Nominees held stakes of more than 11% as at then(largest shareholder). They "may decide" to take over control of the bank.

NwaliE01:
Just 11km and we are doing ceremony.
What are we even learning from abroad that we travel every now and then?

Bro I just tire for Nigerians.
The only thing Nigerian governors do is build ugly roads.

Public WiFi, tramways, social housing, good public schools and hospitals seem like rocket science to them

Chicagograduate:
This Wike Na thief o.
30b for rehabilitation of schools.Buy kpako tables and chairs.Put windows and painting.What else.This is a criminal enterprise.

GOD bless you for this comment. These so called leaders would never address the real structural issues in public schools and hospitals like curriculum delivery, staff welfare, workflow process in hospitals etc

I just hate Nigerian politicians. Very visionless and clueless

Biodun556:


Federal govt owns water. without fg approval and contribution it may never become reality

Kudos to everyone involved. The state govts should be up and doing. Many things can be done with little contribution from federal govt

I totally agree with you. I hope the project would be a reality.

able20:


The whole investment story is another federal government propaganda as usual. Nigerians will Never trust politicians until the political class is sanitized and transformed into leaders with value

I come in peace.

This project has very little input from Tinubu. I'm familiar with project and the Promoters. The Okoja man that runs the company has been working on this project for over 7 years.

I still when he was hustling to get approval from Okowas government.