Farming is no longer by prayer; grace or hardwork. Today it's science and genetics; brains not brawn

Isreal grows more than 40 types of fruit, exporting up to $2.4b in agricultural exports from a "desert."
Farming is not "patriotism...its a business.

The Duijvestijn brother's in the city of Delft have a 36 acre greenhouse comex producing 15 types of tomatos..with its own energy and fertilizer.
Many Family farms in Netherlands have a higher yield than entire States in Nigeria.

I am not discouraging you, just saying go and learn. Shonghai has farms in Benin Republic and Nigeria.

Go learn.....
This is a John Deere 48 lane planter

One run 48 lanes planted.

These sort of productivity enhancing investment can be imported and leased daily to farming clusters.

Cash alone won't cut it...But a good start

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More from @FinPlanKaluAja1

6 Dec
Forex trading 101

Rule 1. Demands makes price go up.

Demand from where? EU?

Investor in Paris wants to buy US Bonds on Tuesday, he tells his banker "buy US bonds"

Banker sell Euro to Buy $. So $ demand is up Tuesday.

The successful trader bought $ on Monday, sold Tuesday
Forex Trading

Rule 2: Supply makes prices fall

US wants to bomb Iraq, will fund war by borrowing a lot...dollars will be plenty.

So successful investors sell $ and but Swiss FR ..before US starts bombing
Forex Trading Rule 3.

You trade dual

Unlike Stocks, where you can buy Apple an wait, in currency trading, you take a long position (buy) and a short position (sell).

Your profit is spread

You move from high supply currency to low supply currency
Read 7 tweets
3 Dec
Why are states in Nigeria not paid their share of the oil and gas earnings in the currency it was earned in, i.e., the United States Dollars (USD)?
Crude oil in Nigeria is owned by the Federation — the Federal, State, & Local Govt. Shared as follows: 13% is deducted & paid to the oil and gas producing States; next, the Federal Government (FGN) gets 52.68%; the States get 26.72%, & the Local Governments get 20.60%.
When Nigerian crude oil is sold, the proceeds are in USD and get paid to the NNPC/CBN/JPMorgan Account in the US. The Oil taxes, e.g., Petroleum Profit taxes, are also in USD and are collected by the Federal Inland Revenue Service and paid to the Central Bank of Nigeria (CBN
Read 19 tweets
28 Nov
A short story

Ada got a bonus is N1m in 2005

She invested in a fixed income certificate in a bank....she earned 10% per annum.

Ada was happy..
Then inflation started to rise...

Suddenly inflation was 8%

Ada was not happy
So Ada withdrew her cash from the bank and invested in a higher yield Corporate Bond paying 16% per annum...

But inflation rose to 12%

Ada was not happy
Read 5 tweets
27 Nov
(i) Youth within the age bracket of 18-35.
(ii) Have business/enterprises domiciled & operational in Nigeria.
(iii) Has not been convicted of any financial crime in the last 10 years.
(v) Has a valid BVN
(vi) Possess Local Government Indigene Certificate(1)
Applying as a Business

(i) Registration with the Corporate Affairs Commission (Certificate of Incorporation & Form CAC 2A);
(ii) Business questionnaire;
(iii) List of Directors with BVN nos.;
(iv) Evidence of regulatory approvals
(v) Tax Identification Number (TIN).
Who CANNOT apply

Applicants currently enjoying NMFB loans, including the Targeted Credit Facility (TCF) & Agribusiness/Small & Medium Enterprises Investment Scheme (AgSMEIS) loans that remain unpaid, are NOT eligible to apply.
Read 9 tweets
22 Nov
Recession? What does it mean?

Imagine a bakery making Agege bread, They buy

Flour
Sugar
Yeast
Pay salary
Pay taxes
Deposit cash in bank, banks use that deposit and creates loans.

An econony built by Agege bread

Ioaf cost N50, output 1000 so "GDP" is N50 x 1000 =N50,000
Then crisis, and people lose jobs.

Instead of buying one Agege bread and day, they buy one every two days..

So bakery sells less bread, instead of 10,000 loaves they sell 5000

So "GDP" is N50 x 5000 = 25000

A 50% fall in output of Agege bread
What happens? Well less Agege bread output means

less flour bought
less sugar bought
Less salary paid
Less cash deposited

So Agege industry states to infect other sectors like banking.

Those sectors also cut down on spending, pay less workers...a vicious cycle starts
Read 6 tweets
21 Nov
I stumbled upon this case...

United Capital Trustee v FIRS, very interesting...

In summary, United Capital (UC) paid dividends to parent coy in excess of total profits. FIRS thus invoked Sec 19 of Corporate Income Tax Law to claim tax on that excess distribution.

please read.
UC in their defense said they relied on an "exemption order" issued by the President of Nigeria called the Companies Income Tax (Exemption of Bonds and Short Term Government Securities) order 2011
UC and FIRS went to the tax appeal tribunal, this tax even followed a review of books from 2011 to 2016.

The Tribunal held that "Executive Orders are inferior to the Corporate Income Tax Law...."

Interesting
Read 5 tweets

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