NewStats: 3,264,542 , 8,184,043 topics. Date: Wednesday, 11 June 2025 at 01:08 PM y4h676z3e3g |
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obawinner: 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. |
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ambale: 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 |
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Mohisah: 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. 1 Like 1 Share |
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Bluntemperor: 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 |
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ibrocool: 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. 1 Like |
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emerged01: 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" 1 Like |
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Kudducini: 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. |
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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 5 Likes 1 Share |
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nlfpmod: 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. 2 Likes 1 Share |
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Faiththatworks: 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 6 Likes |
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jedisco: Exactly. I totally agree with you 1 Like |
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motymop: 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. 2 Likes 1 Share |
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Elliotwaveforec: 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. |
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seborrhic: 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. 2 Likes |
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God1000: Plane crash not helicopter |
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Paramount01: 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. |
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muyico: No 95 is Russian. I counted up to 2 Chinese universities. The list is sha bias. I come in peace 2 Likes |
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Gbadugbakun:No 95 is a Russian university. The list is bias sha 6 Likes 2 Shares |
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IrepChrist: Well said. The potential is there but we have visionless and clueless leadership 1 Like |
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Gerrard59: 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. |
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pansophist: 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. |
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bigtalla: 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. |
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Tranquility2345: 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. 1 Like |
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Tranquility2345: 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. 1 Like |
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Tranquility2345: 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 1 Like 1 Share |
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Tranquility2345: 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". 1 Like 1 Share |
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Originalsly: My thoughts exactly 1 Like |
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omoadeleye: 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. |
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NwaliE01: 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 1 Like 1 Share |
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Chicagograduate: 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 1 Like 1 Share |
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Biodun556: I totally agree with you. I hope the project would be a reality. 1 Like 1 Share |
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able20: 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. |
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