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Akin Oyebode Profile picture
Akin Oyebode
@AO1379
Finance Commissioner, Ekiti State Government.
Oct 4, 2022 • 9 tweets • 3 min read
Can’t wait to see the financial statements, and even better, a period where profits result in dividends to shareholders. :) I’ve started reading the audited financial statements of NNPC, and the first thing that jumps out is the cost of registering NNPC Limited. Why does it cost N3 billion? Image
Oct 2, 2022 • 5 tweets • 1 min read
CBN debited N6.9 trillion from banks last week, the result of the MPC decision to increase CRR to 32.5%. This means a third of all bank deposits now sterilised with CBN. It’s one of the worst MPC decisions I’ve ever seen, and has simply gone unnoticed. In a country struggling for growth, CBN’s CRR hike will simply kill any type of lending, and by extension, growth. And the worst part is it won’t even curb inflation, which is now clearly more cost-push, than demand-pull.
May 1, 2022 • 5 tweets • 1 min read
A good day to share what happens when a PPP goes to plan. I’ll share the roles played by the FG and LASG to enable this significant infrastructure project. 1. NGN378b FG guarantee for the debt

2. NGN25b loan at 9% for the Company developing the free zone

3. NGN10bn bond guaranteed by Infracredit for the free zone DevCo

4. NGN85bn tax credit given to Dangote to construct a new road linking Shagamu-Benin Rd to the Port
Jun 18, 2020 • 4 tweets • 1 min read
Nigeria loses 30-40% of its harvest. Start from there. Even if we don’t increase yield, or open up more land, just dropping that number to 10% creates a massive upside to food production. Instead of smallholder farming, we should fund processing capacity and build more big businesses in agriculture. That’s what creates a paid labour force in agriculture; and we need to replace smallholder farmers with paid labour.
May 14, 2020 • 12 tweets • 7 min read
Here we go. Update on Ikun Dairy Farm. Our cows are now stable, vaccinated and ready for insemination. We’ve also cleared the land and planting has started, and will eventually replace the feed purchased for the cows. ImageImageImage Our JV entity has also repaired the farm houses; procured equipment for the farm, and started hiring staff from the community. Time to show we can create wage employment from agriculture. :) ImageImageImage
May 9, 2020 • 8 tweets • 2 min read
A few thoughts on this. Thread The report is great for anyone trying to make an investment decision. See Healthcare: N2 trillion spent by consumers in a market without universal coverage, where medical tourism is very popular. It’s a massive opportunity
May 5, 2020 • 8 tweets • 2 min read
Finally read this report. First up, it’s long overdue and well done to @nigerianstat for putting this together. Hopefully, we can get this annually going forward. The three reports I look forward to are now this, plus the ones jobs and GDP. First. Kaduna (43.5%) as the best performing northern state wasn’t a surprise, but Kebbi (50.2%) is interesting. It’s sad we don’t have baseline data, but I suspect Kebbi started giving the north space when the rice activity there stepped up.
Apr 27, 2020 • 24 tweets • 10 min read
Not sure if @nonso2 picked Ekiti as a random example, but this is exactly why we are promoting Ekiti Knowledge Zone as a Special Economic Zone for the digital economy. Let me bring my sewing machine out briefly. The first thing to do is improve broadband penetration. COVID19 permitting, we should have coverage in all 16 LGAs by the end of next year, driven by a change in the Right of Way tariff structure.
Apr 4, 2020 • 8 tweets • 2 min read
My first job didn’t pay very well, I think I earned N35k/month at the start, later moved to N50k/month. But food was subsided at work, I rode to work with my good friend, and lived in the parents BQ, so it was fine. But I loved my job. It was the most exciting job ever. Constantly being with people who were smarter and more experienced than you was a blessing. I learnt something every day. It was literally being paid for going to school.
Mar 20, 2020 • 5 tweets • 1 min read
That’s why widespread testing is the only solution here, if we are going to balance healthcare concerns with an economic crisis. If NIGERIA needs money/support for anything now, it’s an urgent plan for increased testing. Again, can’t stress this enough. Widespread testing is the most important investment for Nigeria. Next, ventilators and ICU facilities for the most affected. Then isolation units for infected patients. In that order.
Mar 30, 2019 • 6 tweets • 1 min read
Here to correct ignorance. First, the fundamental issue here is between Innoson and Nigerian Customs Services, not GT Bank. Seems this guy didn’t bother doing any research before going on a fake news spree. In 2004, Innoson imported 25 containers of motorcycle CKDs, for which he has a concession from Ministry of Finance to pay 5% duty. He allegedly paid based on 5%, but Customs insisted on him paying 30%.
Mar 7, 2019 • 5 tweets • 1 min read
MTN Nigeria is beasting. I think it just became the first Nigerian company to hit the trillion Naira revenue mark. N1.04 trillion revenues on the back of 17% growth (v 1.9% GDP growth). Historic stuff Subscriber base rose by 11% (by almost 6m new subscribers) to 58.2m. ARPU up by 3.5% to N1,535. Data revenue increased by 40.1% yoy. EBITDA grew by 30.7% (excluding CBN payment). EBITDA margin of 43.5% (excluding CBN payment). Mental margins!
Jan 24, 2019 • 13 tweets • 2 min read
In 1999, the gubernatorial election in Lagos was as one sided as ever. Bola Tinubu (AD): 841k. Dapo Sarumi (PDP): 184k. Nosiru Kekere Ekun (APP): 122k votes. Asiwaju won 19/20 LGAs. By 2003, AD didn’t have it easy at all. The incumbent faced a strong opposition candidate, supported by Abuja who wanted Lagos at all cost. Asiwaju polled 911k to defeat Funsho Williams who got 740k.
Dec 19, 2018 • 11 tweets • 2 min read
Thoughts on what is a sobering report on jobs coming up. Stay with me. I’ll start on twitter, might give you a blogpost for Christmas if at least 100 people promise to read it. First, we need to control this population growth. A 5.4m million person (or 6%) increase in the Labour force is a problem, unless the economy is growing at 10% minimum.
Nov 30, 2018 • 12 tweets • 2 min read
Someone asked me what needs to be done to improve transportation using the waterways. Here’s my uninformed view. First thing that needs to be done is channelization of more waterways to provide a route for boats. Lagos State has channelized 4 of 40 routes, needs to ramp up on this. guardian.ng/news/lagos-cha…
Jul 15, 2018 • 10 tweets • 2 min read
No blog post from me on Ekiti this time, thankfully. But while we focus on money, I’ll share some thoughts on how Ekiti went the way it did, this time I watched from a distance. I believe in most Nigerian elections, about 60% of the voting bloc have set choices. It’s the 40% that’s usually up for grabs, by any means.
May 8, 2018 • 11 tweets • 4 min read
Look at Nigeria’s GDP per capita. No real growth in GDP per capita in 60 years. Meanwhile you have 40/50 years of oil. This should be our real worry. Look at the non-oil export multiple needed for growth, even with super favorable assumptions. This is going to be hard work.