“We have written a letter to the Senate that we want a copy of the report where it is stated that ₦210 trillion cannot be explained.
“If this money is recovered, that will be enough to fix our comatose hospital, our roads that have been turned into death traps, and provide jobs for young people.”
Senior Advocate of Nigeria, Femi Falana, made the remark following the Senate’s decision to withdraw the call for the arrest of a former NNPC managing director, Mele Kyari, over alleged mismanagement.
#CTVTweet
Haven’t shared this before, but a lot of people ask me how I do it, so here goes:
Long-dated options, or LEAPS, are a powerful way to aggressively compound portfolio gains if you have high conviction about the future price of a stock. I have personally made a lot of money doing this. Yes it works!
LEAPS gives you opportunity to control at least 100 shares of a stock without owning them. I use this mostly for swing trades I plan to dump in <1 year or two. No point doing this for long term holds.
Eg: A stock trades at $10 and you believe it can hit $20 within a year, Instead of spending $1,000 to buy 100 shares, you buy 3 call contracts with $11 strike (will explain this later), expiring roughly a year from now. Some people do short dated ones too. That’s fine as look as it’s not too short. You need time for your thesis to play out. Avoid ODTEs if you know what’s good for you except you’re an idiot.
Assume premium is say $3 per share? Each contract would cost: $3 x 100 = $300. 3 contracts would cost: $300 x 3 = $900. Total cost = $900
Now suppose the stock doubles to $20 in one year, just as you projected.
Each contract is now worth:
($20 - $11) x 100 = $900. Meaning 3 contracts you bought would be worth $2700
Summary:
Initial cost: $900
Final value: $2700
Profit: $1800
Assuming you bought the stock outright:
100 shares at $10= $1k. If the stock goes to $20, your shares are worth $2k. Profit: $1k.
In other words, LEAPS compounded your returns with lesser capital and vice versa.
Are there risks involved ? Of course. A lot of risk.
If the stock does not rerate meaningfully higher, you can lose most or all of your capital.
A wise man once said, “Leverage is for idiots.” and he wasn’t exactly wrong.
This isn’t something you YOLO, and definitely not with a large chunk of your port. I personally never risk more than 10% of my port (Okay fine, I’m lying. It goes as high as 20% sometimes)
You only use LEAPS when your conviction is extremely high and you believe the stock can rerate aggressively to the upside.
Now here’s the real alpha:
How do you manage risk and find the right stock for this kind of bet?
This is the filter that has consistently worked for me:
1. I like beaten down assets with improving business margins ie Growing revs & bottom line, positive or improving EBITDA (adj), and a low D/E ratio.
On the technical side, the stock should be trading within say 10% of their 52-week low, RSI below 40, and sitting on key support across all long timeframes.
The goal is to always find a mispriced asset, not to catch a falling knife.
2. Buy around 10% OTM strikes ie If a stock is at $10, I’m looking around the $11 strike.
That way, the stock only needs to move above the strike plus the premium paid for the trade to become profitable. If you buy very far OTM strikes, you can still lose money even if the stock moves meaningfully higher. This is essentially baba ijebu.
3. Theres no point holding the contract into the final 60 days unless it is already deep ITM and you are comfortably profitable. Read up about something called thetas and option decays.
At that point, either sell it, roll it, convert to shares, or take the loss on the chin. You live to fight another day.
4. Only buy LEAPS when implied volatility is low cos Low IV = cheaper premium. Thats when LEAPS make the most sense cos you don’t want to overpay for optionality, then be directionally right and still get hurt cos IV compresses.
My current LEAPS:
$HIMS
$SOFI
As always, This is not financial advice. Just sharing what works for me.
There are tons of tutorials on YouTube that explain the mechanics better, but take this as a primer.
You’re welcome :)
Misinformation around Nigeria’s new tax laws is real, but so is the opportunity to build trust.
PACE, through @UkinNigeria, is working with @OpenBudgets to strengthen grievance redress systems that protect taxpayer rights & improve revenue governance.
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The theme for #EarthDay2026 is here: Our Power, Our Planet.
It’s a reminder that we aren't just observers of the climate crisis; we are the solution. Our collective voice has the power to triple global renewable energy by 2030. 📈
Waste → Energy → Income
120 women & youth in Jigawa are turning agri-waste + typha grass into clean fuel; cutting deforestation, reducing smoke & creating livelihoods.
Policies are not one-way traffic. There are consequences for actions and inactions. The impact of enacting the policies vs. Maintaining Status quo is what should be considered 3 years down the line.
The common man would have been dead without subsidy removal. NNPC's debt was at N6 trillion to oil marketers and non-remittance to FAAC had gone on for months. The last subsidy was paid from borrowed eurobonds and the FG was technically bankrupt.
The ways and means trend would have continued, and maybe we would have hit over N50trn in ways and means by year 2. Inflation and devaluation would naturally follow. States would owe salaries due to fiscal strangulation. Subnationals would have to leave off bailouts from ways and means.
Petrol won't be available with this war. Dangote won't play the subsidy game knowing the magnitude of NNPC's liabilities. His refinery is situated in an export zone and he will simply export his products. You will wake up by 3am to queue for 10 hours to buy rationed fuel at N4,000 per litre. The marketers will shun a bankrupt NNPC.
I can't imagine our reserves without FX Unification. FX backlogs and trapped funds will continue to scare investors. Imports will dry up and further pressure will hit the black market. No FPIs, No FDIs. The Naira with printed ways and means will continue to chase a few dollar bills and there is only one consequence.
It's primitive economics to compare 3 years ago and now, without taking into account the consequences of the inaction. Yes the reforms have been painful but we would have been in a worse situation. There was limited head room for any alternative. Policy evaluation must be conterfactual not just then vs now.
One of the reasons I’ve stayed away from Nigerian politics is simple: I try to anchor my views on economic structure, not party loyalty. But I’ve realized most conversations miss the real issue entirely.
Everyone wants relief. Very few ask what the mechanics are.
The Lagos State House of Assembly, under my leadership, has established a Legislative Liaison Office in Asokoro, Abuja, an important institutional bridge designed to strengthen engagement between Lagos State and key federal stakeholders.
This Liaison Office represents more than a physical presence in the nation’s capital. It serves as a strategic hub for legislative coordination, policy alignment, intergovernmental relations, and effective advocacy on matters that impact the people of Lagos State.
It ensures that the voice, interests, and developmental priorities of Lagos are consistently represented at the federal level.
It is Lagos House. It is the House of Assembly’s extension. It is the People’s House. Above all, it stands as a House of Democracy, dedicated to deepening governance, fostering collaboration, and delivering greater value to our citizens.
@mudashiru_obasa@followlasg
Lols... A little correction about history...
No! GEJ did not...his regime strangulated Geometric Power, after unceremonously sacking Dr Barth Nnaji as Minister of Power.....bcos his company bidded for ENUGU DISCO.....
Thereafter Geometric Power was licensed to operate the "Aba Ring fence " but something very sinister and dangerous happened after Geometric power borrowed N120B from Diamond Bank and some additional loans from World Bank...that rendered it debt ridden and comatose👇👇👇
1) GEJ in his lacklustre and nepotic sale of PHCN eventually sold ENUGU DISCO to Sir Emeka Offor, one of his cronies despite failing to meet conditions of sale and deadline.....( we can see today the failure of ENUGU DISCO in SE
2) With tacit support of GEJ...ENUGU DISCO ( Sir Emeka Offor) in connivance with NERC & POWER MINISTRY plus then Senate President refused to allow Geometric power to operate...frustrated every effort till it started reeling in debts and all installed assets became rusty.
One of the debts ( N120 Billion) that put defunct Diamond Bank in operational jeopardy...and write offs
( you might want to find out the names and tribes of those involved 🥲🥲)
3) It was not until President Buhari regime that Dr Barth Nnaji approached POWER MINISTER, Babatunde Fashola who worked astidously and with approval of President Buhari, used executive power force ENUGU DISCO to cede the " Ring Fenced " Aba to Geometric Power.....
So No!!!! in SUBSTANCE it was not GEJ.....It was under Buhari, engineered by Fashola that the dream and vision became a reality!!
PMB made it happen, otherwise Geometric was already DEAD!!
Like i always say...LET US SAY THE TRUTH TO EDUCATE THE YOUNG THAT POSTERITY DOES NOT JUDGE US FOR LEADING THEM ASTRAY!!
assessment to strengthen how government measures real progress and not just reports activity.
Working alongside CRDCU, PACE contributed technical expertise to sharpen performance validation & delivery focus so national priorities translate to outcomes that Nigerians can feel
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Government performance only matters when citizens experience the results.
Led by Central Results Delivery and Coordination Unit, and delivered in collaboration with PACE, MDAs came together for a technical retreat on the review of the 4th quarter 2025 and annual performance
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Terrorists reportedly attacked St Mary’s School in Papiri community, Agwara LGA of Niger State early hours of today. An unconfirmed number of students and staff have been Kidnapped. DailyTrust reports.
I’m sorry. It’d be hard to lure investors to Osun State. The Governor doesn’t possess the prowess to convince the investors. The Deputy Governor or other representatives should have done the work instead
It’s a slap on Osun and its citizens. We need to correct this in 2026.
I am pleased to share the Kano State Climate Change Policy document with the public! This policy serves as a strategic framework to address climate challenges and promote sustainable development in our state.
Currently, we are working on the validation of the Implementation Plan, and we invite all stakeholders to contribute their insights. If you have recommendations or inputs, kindly forward them to [email protected] or submit them in person to the Director, Climate Change at the Ministry of Environment and Climate Change – Audu Bako Secretariat, Kano State
Your participation is crucial in shaping a resilient and climate-smart Kano!
You can access the document here: https://t.co/l2kdzCk3S5
Dr. Dahir M. Hashim
Honorable Commissioner,
Ministry of Environment & Climate Change, Kano State
Our GDP in 2013 was N42trn. It was rebased in 2014 to N80trn. Our GDP today without any rebasing is N269trn. To say that our economy was bigger in 2014 because of an artificial / pegged currency value is nonsense.
There is no sector of the economy that was bigger in 2014 compared to 2024. Banking, insurance, Fintech, tech startup, healthcare, real estate, manufacturing, construction, aviation, oil and gas, power, alternative energy, hospitality, SME, agric, trade, etc.
The Lekki corridor is my microcosm, I could count the number of businesses in Lekki phase 1 in 2013. Now I can't count the number of malls or restaurants on admiralty alone. The massive real estate development from Freedom way to sangotedo, hotels, car dealership, free trade zone, port, refinery.
We can talk about our fx management principles that have changed from a pegged model to a market driven float, but to say that our economy tanked by nearly 80% in GDP, which is measured in local currency is nonsensical.