Theconglomerate:
It can be true if you look at a particular situation critically.
There are over 40 million alumajiri in the north that basically lick plates after others have eaten and beg for akara and sing up and down out there,so how hard can it be to see another 42 million people up there that don't see up to 400 naira to feed daily?

IamR:

I agree with you. If he had localised it to a particular region outside southern part of the country, I may partially agree to that statistics.

emmanuelewumi:




There is a whole lot of difference between what you earned and your Networth.

After working for 20 years it is possible for someone who earned an average of N10 millon per annum for 20 years to have a higher Networth than another person who earned an average of N20 millon per annum - Very True


Besides I doubt if the number of the workforce in the petroleum sector is up to 20,000. It is about 1% of the worker force that is 200 that can get to the top management level.


From the current annual report of MTN Nigeria, it is just 4 top management executives that earned over N100 million per annum

AnthonyAnderson:


Of course I am talking of networth - 100m/pa is referenced as at today.

A lot of these people have worked over 20years investing as the years go by. Also remember these companies have cooperatve clubs that make investing easy and risk free. When you profile those that have worked for more than 20 years and retired and those still in the system you get a very high number. Majority of these lots own assets in prime estates that have over time increased their networth.

For example, most of the properties around Chevron is owned by Chevron cooperative with retired and current staff owning massive assets in these properties. You can estimate the worth of this..Same with cooperatives of other companies.

There a lot of independent oil companies paying higher than IOCs in Nigeria and in operation more than 10yrs now. Eland, Seplat, even Afren before crisis.

rationalhuman:
Yes they are reaping benefits of their massive domestic industrial capability.
However you are wrong on salary part.
In my last semester in University, i was selected from campus (while i was studying in India) for Crompton Greaves (UAE) and despite enjoying good life i saved a good amount. Now I am working in Sterling and Wilson (Nairobi) for past 5 years.
I can assure you all of my peers are far less what i am getting in my wages.

Ugmama:


Well, you may not believe it.

Hope you will believe that 70% of Nigerians are poor.

82million people in Nigeria can't boost of 1usd per day

emmanuelewumi:




Are you a Kenyan?

Alaska90:



Hello Mr emmanuelewumi,

Please you have not answered my question on your top ten pick Nigeria stocks.

Thanks

emmanuelewumi:



The CEO of Seplat earns over N600 million per annum, his dividends is higher than that because he is a founder CEO. Seplat is currently have issues with profitability they paid us a total dividend of 10cent per share for the last business year


What you have portrayed is true for about 10% of the workers, most can't sustain their lifestyle after retirements. A good number fall into the hands of scammers after retirement, because they want to make fast money.

The best thing is to start investing and keep investing through out our working careers

emmanuelewumi:



I am sorry, I don't recommend shares.


Although I am currently buying United Capital, Zenith, FBN, Dangote sugar.


I want the price of Airtel Africa to come down a bit, they paid us a total dividend of 6 cent last business year


We have a thread for stock market investment, which you can visit

emmanuelewumi:



I am sorry, I don't recommend shares.


Although I am currently buying United Capital, Zenith, FBN, Dangote sugar.


I want the price of Airtel Africa to come down a bit, they paid us a total dividend of 6 cent last business year


We have a thread for stock market investment, which you can visit

Alaska90:



Thanks

But what do you think the price for Airtel Africa should be to enter considering that is at lowest for a year now ? ( N298.90 now)

emmanuelewumi:




Are you a Kenyan?

ahiboilandgas:
i think is even less...

ahiboilandgas:
Seplat that is paying the ceo 600 million is under a heavy debt burden

emmanuelewumi:



They don't have a negative shareholders fund. The they a positive shareholders fund of almost N600 billion.

You get this by subtracting all the debts of the company from the assets of the company.


Still paid a total dividend of $60 million or about N22 billion for the last business year

emmanuelewumi:




This doesn't negate the fact that the Oil and Gas sector is in big trouble between now and early next year

ahiboilandgas:
very big ...the down stream profit will decline by 80 percent if pms prices is deregulated we are in trouble

rationalhuman:
yes

Akin3891:
Hello egbon, kindly explain this investments. I got the offer from fbnquest. Like how much will I get at the end of the tenure, and does it worth it. Thanks

emmanuelewumi:
It is a bond that is sold in the secondary market at a premium.

You will get about 84k every year. 42k every 6 months

ahiboilandgas:
we supply Ago to some of their offshore and onshore location ...to pay na wahala .them and Npdc almost bankrupted our firm .... ( 700-1m) litres monthly

otomatic:


All banks. The rates are uniform as stipulated by the CBN's guide to bank charges. However, some may have specialized savings products, like the former Diamond bank' high interest deposit account, that will give slightly higher rates. But the rate I quoted is for a normal savings account.