@FinPlanKaluAja1 Geregu may be more than a company-specific problem. A bond default forces the market to ask a bigger question; how many Nigerian corporates are profitable on paper but under serious cash-flow pressure?
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Nigeria’s biggest development myth is that states that receive more federal allocation are automatically more developed.
Since 1999, Nigerian states have received trillions from FAAC.
But here’s the real question:
“How much development did each state produce from every ₦1
Oil windfalls are an opportunity,if managed with discipline.
For Nigeria: build reserves, stabilize FX, and invest in productivity,not consumption.
For banks: more liquidity, FX flows, and lending opportunities,but also risks of overexposure and bad loans.
Execution is key!.
A better interim approach to reintroducing blanket fuel subsidy is a targeted relief for the vulnerable, temporary tax cuts, FX stability, and smart use of oil windfalls. The goal shouldn’t be to bring subsidy back, it’s to cushion the shock without breaking public finances again
It’s worrying to see what looks like a passive expectation that geopolitical tensions involving Iran will simply drive crude prices upward and ease fiscal pressures. Diversifying into agriculture and non-oil exports is the only way out, oil price volatility shouldn’t be.
Data drawn from Edo State Investment Promotion Office, Edo State Oil Palm Programme, official Edo State Gov releases, reporting by Daily Trust, Vanguard, THISDAY & Nigerian Observer. Projections are based on published investment figures & prog. targets (oil palm, cassava, rice).
@atakata101 @Nedumcity_@Onyia1@DanNwomeh@PNMbah Why tagging Mba, he's only interested in taxing the hale out of Enugu citizens. We are all on our own until we choose to act accordingly.
@FinPlanKaluAja1 Y'all better gear up, if passport issuance fee has gone up, the next will be drivers license and plate number registration fee. The hope will surely be renewed.