Astra101:
Something isn't clear to me. Project financing :Dangote Group =50%
:Nigeria Banks =50%

Is it that Nigeria banks gave Dangote loans to the tone of 50% of their own initial investments or got a share holding of 50% and how comes Dangote group held almost 86% share of this refinary when NNPC controlled 20% ownership?

50% loan, not equity.

BigIyanga:

Banks finance projects without taking equity.. they only put a lien on a property they’re financing… which gives them the 1st right of refusal in liquidation and bankruptcy proceedings. Banks make their $$ from interest rates, loan origination and brokerage fees etc

Don’t mind the b.uffon that wrote the article. If he doesn’t know anything about deal financing, he should have asked around or read wider before posting that gibber1sh be posted.

I am sure he must be from that red soil area of Nigeria. Always filled with hypocrisy.

Neoteny7:


50% loan, not equity.

Does he know what they call equity at all?

Ogene001:
I see Igbo names in the non executives yet yorubas are acting as if they now own Dangote to the exclusion of Igbos

Oloriburuku

U can't sleep until u mention yoruba

TundeBricklayer:
These guys controls shares of 86% of Dangote while Aliko less than 1%

Independent non-executive directors are not shareholders.

They're likely honorary directors added to the Board for governance purposes.

MeineMutter:


Does he know what they call equity at all?

Apparently not.

The OP also seems to think the non-exec independent directors (especially the igbos) are shareholders.

Astra101:
Something isn't clear to me. Project financing :Dangote Group =50%
:Nigeria Banks =50%

Is it that Nigeria banks gave Dangote loans to the tone of 50% of their own initial investments or got a share holding of 50% and how comes Dangote group held almost 86% share of this refinary when NNPC controlled 20% ownership?

Banks are ur classical olosho wey go Hardvard with polished suit and better grammar… they fnck with any big borrower with best collateral and repayment terms… poor man no dey touch banks.. ie Harvard Olosho lol

Ogene001:
I see Igbo names in the non executives yet yorubas are acting as if they now own Dangote to the exclusion of Igbos

Do you know what they call NEDs? If you don’t know it, ask people who know it.

NEDs don’t have shimgbai investments in any company where they act as NEDs.

Ogene001:
I see Igbo names in the non executives yet yorubas are acting as if they now own Dangote to the exclusion of Igbos

I expect Fred Ajudua from you Ibuzo (Ibusa/Ibisa) village to be one of the NEDs too.l so that you can have more to say.

Astra101:
Something isn't clear to me. Project financing :Dangote Group =50%
:Nigeria Banks =50%

Is it that Nigeria banks gave Dangote loans to the tone of 50% of their own initial investments or got a share holding of 50% and how comes Dangote group held almost 86% share of this refinary when NNPC controlled 20% ownership?

The Banks are not on the Board however Dangote Group is exposed (borrowed) upto 50% of the project cost.
We don't know what collateral was given could be convertible shares

Exactly. Very powerful!

Refinery that will be run aground in 5 yrs time?

Unless he has complete monopoly which is already out of the way.

Prosperity4All:

The Banks are not on the Board however Dangote Group is exposed (borrowed) upto 50% of the project cost.
We don't know what collateral was given could be convertible shares

Everybody know that before.
It was hyped so much cos politicianshas hand in it and laundered money through the white elephant project and politicians will swallow it eventually.

African richest Man... Akuko!.

Why you no go survive if CBN dash you loan.
Shame to all supporters of evil.

No single working refinery across the 2oo only for Dango to commot head.

Tell it to the birds.

Ogene001:
I see Igbo names in the non executives yet yorubas are acting as if they now own Dangote to the exclusion of Igbos

Who is no 2 on that list oga. Must you be killed by tribal comments always.

Ogene001:
I see Igbo names in the non executives yet yorubas are acting as if they now own Dangote to the exclusion of Igbos

how u take dey sleep, face reality na. na witch u b, heart hardened

baby124:
Interesting to see Blair’s wife on that board. Many people have been saying that couple junket the whole Africa, looking for countries to take advantage of. I hope Tinubu is smart enough to shake off this people. Tony will quickly run into any African country and start holding meetings when no concern him. He’s no longer in office but na him pocket him de chase.

That's precisely what they do but it's not just Africa, anywhere where the people are foolish enough to hand over their money to war criminal they will be there - Asia, Latin America, the West Indies it doesn't matter. Tony Blair loves money. Money and lies.

Y u do jealous? Guess u b ethnic bigot... OK who b cfo there.. Muntula

Ogene001:

Na you de get high BP as we expose your propaganda. No field where Igbos have not displaced you

Must u let tribal bigotry take over ur reasoning every time. The list only depict or single out only an igbo name.

Ogene001:
I see Igbo names in the non executives yet yorubas are acting as if they now own Dangote to the exclusion of Igbos

baby124:
Interesting to see Blair’s wife on that board. Many people have been saying that couple junket the whole Africa, looking for countries to take advantage of. I hope Tinubu is smart enough to shake off this people. Tony will quickly run into any African country and start holding meetings when no concern him. He’s no longer in office but na him pocket him de chase.

His hands are not clean.
A war criminal's wife as a director?

Let's siddonlook.

And BlackRock is also there?
Hope you know that they are the financiers ( or one)of the Ukraine war, on the side of the Americans.
And finance usually mean one thing:- Jews.

And zele Bobo is a Jew.

baby124:
Interesting to see Blair’s wife on that board. Many people have been saying that couple junket the whole Africa, looking for countries to take advantage of. I hope Tinubu is smart enough to shake off this people. Tony will quickly run into any African country and start holding meetings when no concern him. He’s no longer in office but na him pocket him de chase.

This your yarn no balance at all. Many countries are lobbying for direct foreign investment and this is how it is done.

Ogene001:

Na you de get high BP as we expose your propaganda. No field where Igbos have not displaced you

LOL...... So Igbos have been playing catch up all these years....
Igbos never displace Yorubas for presidency lol

PureFace1:


You guys always act delusional.

There is only one Igbo on that list and he is a non executive member the Yoruba there is the real executive member with power so how the hell have you displaced Yoruba lol ?

Are you now claiming Dangote company because you have one guy as a non executive member on the board ? there must be something special in the water you guys drinks in the east to make you so delusional.

A CFO is just a staff that can be replaced anytime, just chill and drink water.

It doesn't really matter who is in the board and who is a management staff, what matters is that the refinery works and Nigeria benefits.

enough of all these tribal banters

patorial:



Do you know that non-executives are board members?

Now what brings one into the board? Shares.

You are an Olodo!

I taught people like you clearly in that post what you should know, instead of learning, you have decided to defiantly hook on to your ignorance and what to teach it.

So when Okonjo-Iweala is appointed to those many different board roles of international companies, is it because she has shares in all those companies?

When people are appointed boards of profit-making public companies like NNPC, is it because they own shares in it?

Olodo, when you see the term independent non-executive director, know a 10,005% the person has no [significant] shares in the organisation. They were just appointed because of their expertise, experience and integrity.

Despite trying to give una education standard wey una no have, una go dey beat chest and fight say "I know am" without research.

https://www.aon.com/unitedkingdom/insights/a-guide-for-independent-non-executive-directors.jsp

Unemployable "yoots".

OloyeVIII:
Why i no dey see my name?

Maybe when you wake up from your slumber.

Ogene001:
I see Igbo names in the non executives yet yorubas are acting as if they now own Dangote to the exclusion of Igbos

Who is this FOOL!

baby124:
Interesting to see Blair’s wife on that board. Many people have been saying that couple junket the whole Africa, looking for countries to take advantage of. I hope Tinubu is smart enough to shake off this people. Tony will quickly run into any African country and start holding meetings when no concern him. He’s no longer in office but na him pocket him de chase.

....and BlackRock? Same BlackRock??

PureFace1:


There is only one Igbo on the list the rest are from South South they are even non executive which mean they don't have any power to make decisions they can only advise. The Yoruba guy there is the Chief Financial Officer with real executive power but Yoruba are not claiming Dangote company though

Inferiority complex has eaten deep into his nonexistent self-esteem.
It’s always a toxic competition for him

descarado:
Refinery that will be run aground in 5 yrs time?

Unless he has complete monopoly which is already out of the way.

Run aground in 5 years time?
Complete monopoly out of the way probably because of the mushroom, illegal refineries in the Creeks?

Only on Nairaland.

Astra101:
Something isn't clear to me. Project financing :Dangote Group =50%
:Nigeria Banks =50%

Is it that Nigeria banks gave Dangote loans to the tone of 50% of their own initial investments or got a share holding of 50% and how comes Dangote group held almost 86% share of this refinary when NNPC controlled 20% ownership?

wetin concern you for there

Kennyfancy:
wetin concern you for there

🙄

Astra101:
Something isn't clear to me. Project financing :Dangote Group =50%
:Nigeria Banks =50%

Is it that Nigeria banks gave Dangote loans to the tone of 50% of their own initial investments or got a share holding of 50% and how comes Dangote group held almost 86% share of this refinary when NNPC controlled 20% ownership?

Nigerian banks have ZERO (as in NO or 0%) investment in the Dangote Refinery…
Rather, they have advanced LOANS to the Dangote Group that would be repaid with interest.

Meanwhile, according to CBN Gov Emefiele…
Dangote Group has already REPAID about $2.7 billion of those loans even before the commissioning.
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