₦airaland Forum

Welcome, Guest: RegisterLoginWith GoogleTrendingRecentNew

Stats: 3,325,434 members, 8,421,984 topics. Date: Sunday, 07 June 2026 at 12:29 PM

Toggle theme

9jaRealist's Posts

Nairaland Forum9jaRealist's Profile9jaRealist's Posts

1 2 3 4 5 6 7 8 ... 29 30 31 32 33 34 35 36 37 (of 376 pages)

PoliticsRe: Tosin Saraki Graduates With A Degree From UK University (Photos) by 9jaRealist: 3:28am On May 04, 2023
Gee64:
Bookworm and very ugly. undecided
Beauty is in the eye of the beholder…
Sadly, YOU sound UGLY inside (and probably outside).
angry
>
PoliticsRe: Tosin Saraki Graduates With A Degree From UK University (Photos) by 9jaRealist: 3:26am On May 04, 2023
TMSMedia:
Nigeria's former Senate President, Bukola Saraki, has taken to his Twitter handle to celebrate one of his daughters bagged a degree from a UK university today May 3, IGBERETV reports.

The excited dad shared photos of him and his wife with their daughter and her husband, Olatunde Olukoya, with the caption;

https://twitter.com/bukolasaraki/status/1653753894013485056?s=20[/quote]CONGRATS Tosin…
>
PoliticsRe: Pictures And More Information On The New Lagos/Oando Electric Buses by 9jaRealist: 9:41am On May 03, 2023
PoliticsRe: Ebonyi Journalist Suspended For Taking Picture Of Kids Eating Leftover Food by 9jaRealist: 9:30am On May 03, 2023
BluntCrazeMan:
According to Omotayo Williams’ Tweet:
(@KadunaResident)..

Source:
https://twitter.com/KadunaResident/status/1652624111711944704?t=mzUm85fVLgvJAItMhSCyvw[/quote]A “political” airport that will end up be grossly underutilized…smh undecided

The only SE state classified as “educationally disadvantaged” instead PRIORITIZED the use of a reported N36 billion to build an airport when Enugu Airport (itself underutilized btw) is EASIER to reach than MMA Lagos Airport is from several parts of Lagos. Imagine how many primary and secondary schools (which is essentially basic education), and perhaps even vocational schools, could have been built and/or renovated with N36 billion.

>
PoliticsRe: Zakari & Alysa Wed: Governor Sule Attends Son's Wedding In The US by 9jaRealist: 9:21am On May 03, 2023
obi4eze:
See how she is well covered. If na my country ladies, dem go expose everywhere.
You obviously have never been to the US (or Europe)…
So you may want to keep quiet and not “expose” yourself.
grin grin grin
>
PoliticsRe: Why I Am Withdrawing Petition Against INEC Over Rivers Poll — Magnus Abe by 9jaRealist: 9:15am On May 03, 2023
kaydee007:
The governorship candidate of the Social Democratic Party (SDP) in Rivers State, Magnus Abe says he is withdrawing his petition against the Independent National Electoral Commission (INEC) challenging the March 18 governorship election which produced Siminaliayi Fubara of the Peoples Democratic Party (PDP) as the Governor-Elect.

Abe made this known while addressing party faithful at the SDP state head office in Port Harcourt, the state capital on Sunday.

He said his action was borne out of his love for the state and his interest in moving the state forward.

Abe said, “The interest of our state has always been and will remain paramount to me. We cannot at any stage of our politics put our own interest above the interest of those who have sacrificed so much to follow us.

“We cannot also put our ego above every other consideration in our State. We must learn as politicians to be pragmatic and put the interest of Rivers State and Rivers people above every other interests.

“Having taken a very clear review of the situation in the state and what is happening in the state, I have decided, in consultation with the party both at the national and at the state, that I, Senator Magnus Ngei Abe, will withdraw my petition at the Election Petitions Tribunal in the interest of those who have suffered and sacrificed in support of our cause.

“More importantly, it is the interest of our state so that we begin to reduce the bickering and confusion that is in our state, in order to give all of us opportunity to be able to move forward with our lives.

“I take this decision very conscious of the pain, of the trauma and of the confusion it will bring to all of you.”

Abe also denied allegations by the state government that he was demarketing the state in anticipation of a Federal Government appointment.

He maintained that those who blocked a major road in Port Harcourt at INEC’s gate and arrested lawyers in their hotel rooms from getting materials that could help their case in the courts are those who are demarketing the state.
grin grin grin

Magnus Abe is DESPERATE for political appointment…
Dude, go get a real job and quit leeching off Nigerian taxpayers!

>
PoliticsRe: Photos Of Rumokwuta Bridge In Rivers To Be Commissioned By Tinubu by 9jaRealist: 9:12am On May 03, 2023
JealousCobra:
We are still seeing building of brigdes and flyovers in this generation as an achievements from the crook government 😎 gullible Nigerians!


Then why are they voted for as the leaders.
Bless you… cool
From Wike to Umuahi, etc., they’re using “flyovers” to bamboozle GULLIBLE Nigerians. SMH

>
PoliticsRe: Anambra Government Distributes 200 Computers To Civil Servants In The State by 9jaRealist: 4:27am On Apr 28, 2023
SReporters:
https://www.solutionreporters.com/2023/04/27/anambra-government-distributes-200-computers-to-civil-servants-in-the-state/
Nice, but 200 laptops is a drop in the bucket…
However, I hope these are ZINOX computers (or some other Nigerian brand)!

>
PoliticsRe: Fayemi Attends Africa Investment Exchange Conference In London by 9jaRealist: 4:22am On Apr 28, 2023
helinues:
Yet to know which cabinet position would fit Fayemi but he should be part of the minister
Hasn’t he already been minister (from 2015-2018)?
What remarkable thing did he achieve? Or do Nigerians just love to recycle mediocrity? SMH

>
PoliticsRe: Buhari To Unveil Nigerian Army’s New Regimental Colours by 9jaRealist: 3:20am On Apr 28, 2023
Newnas:
Yes, Islam came to Nigeria without violence and enslavement.
Uthman Dan Fodio must have been handing out candy in the North between 1804-1810…oh wait. SMH undecided
>
PoliticsRe: Umahi Sacks Permanent Secretary Who Can’t Calculate Gratuities by 9jaRealist: 12:09am On Apr 27, 2023
sonature1:
Dave Umahi was one of the best things that happened to Nigeria! I wish he went for a ministerial appointment (preferably minster of works) instead of the senate.

He would have shown Nigerians how to build world-class Infrastructural projects with so little, unlike Fashola who's always looking for ways to hike the price of projects. Yes, I wrote this with my full chest!
Nigerian politicians will continue to BAMBOOZLE gullible citizens with flyovers (and ‘vanity’ airports, etc.)…
Meanwhile, after 8 years in office, Ebonyi remains one of the poorest states and the only “educationally disadvantaged” SE state.

Real development is about PEOPLE…
We should measure leadership “success” by how well regular PEOPLE are doing. Anyway, Nigerians DESERVE their leaders. SMH
>
TravelRe: Umahi Names Ebonyi Airport After Buhari, Secures Approval For Inaugural Flight by 9jaRealist: 11:43pm On Apr 26, 2023
fergie001:
SOURCE

Previous Thread:
https://www.nairaland.com/7601753/muhammadu-buhari-international-airport-ebonyi#121568299
POLITICAL AIRPORT… grin grin grin

The only SE state classified as “educationally disadvantaged” is prioritizing the building of what will almost certainly be yet another grossly UNDERUTILIZED airport, when the Enugu Airport is EASIER to reach by road than MMA Lagos Airport is to many parts of Lagos.

And btw, calling for the prioritization of education for Ebonyi citizens does NOT mean building a so-called “medical university” named after himself that the government cannot adequately staff nor adequately equip (apparently he thinks a ‘university’ is just buildings).
>
TravelRe: Umahi Names Ebonyi Airport After Buhari, Secures Approval For Inaugural Flight by 9jaRealist: 11:43pm On Apr 26, 2023
helinues:
Nice one from Gov Dave

How I wish this is not his first time as a senator, he would have been better to hold SP position
grin grin grin
>
HealthRe: 3 Girls Who Removed Their Breasts And Transitioned Into Men (Photo) by 9jaRealist: 11:38pm On Apr 26, 2023
OloyeOfLagos:
They removed there breasts so they could transitioned into men.

Things are really happening

See photos below

Link: https://twitter.com/DailyLoud/status/1650907751483162636?t=31-tBvz8ZTGf_lrs1N6biA&s=19[/quote]BEST WISHES to them…
There’s only ONE LIFE and life is too short not to seek your own individual happiness.

>
PoliticsRe: Tinubu: Our So-called Men Of God Failed In Their Prophesies - Keyamo by 9jaRealist: 11:36pm On Apr 26, 2023
fergie001:
In a veiled reference, Keyamo reacts to Pastor Ibiyeomie's Escobar/Osama bin Laden comparison.

Festus Keyamo
Festus, go to court, abegi… grin grin grin
>
PoliticsRe: Buhari To Unveil Nigerian Army’s New Regimental Colours by 9jaRealist: 11:32pm On Apr 26, 2023
Newnas:
The connection between Arabs and Nigeria is that Nigeria is majority Muslim and Arabic is the identity of Muslims.

If you want Hebrew then it's fine. But, God forbid English that is a signature of enslavement.
Exactly! Since Islam came to Nigeria without violence and ‘enslavement’…oh wait undecided
>
PoliticsRe: Buhari To Unveil Nigerian Army’s New Regimental Colours by 9jaRealist: 11:26pm On Apr 26, 2023
compton11:
nigga let people use the language that suits them afterall Jesus red cross is used as our ambulance logo and Sunday is chose to be rest day and u don't see anybody complain plus the northerners have been using Arabic/ajami as their writing style before the European came
Btw, they’re free to continue to use it for their local insignia or from symbols “before the European came”…
But “the European” (sic) coming is the ONLY reason we’re in ONE nation called Nigeria, they can’t use it in Nigerian NATIONAL symbols.
>
PoliticsRe: Buhari To Unveil Nigerian Army’s New Regimental Colours by 9jaRealist:
compton11:
nigga let people use the language that suits them afterall Jesus red cross is used as our ambulance logo and Sunday is chose to be rest day and u don't see anybody complain plus the northerners have been using Arabic/ajami as their writing style before the European came
Are you laboring under a comprehension deficit?
Did I say anyone shouldn’t use “language that suits them”?!

People are free to speak fake ‘akata’ or whatever suits them…
But language in official Nigerian insignia should be in Nigeria’s official (or indigenous) language!

>
PoliticsRe: Buhari To Unveil Nigerian Army’s New Regimental Colours by 9jaRealist: 7:10pm On Apr 26, 2023
tsdarkside:
it looks different than normal arabic to me.... undecided undecided
i dont know arabic that much....but this looks a bit different....
I used to think it was Hausa myself…
It might be Hausa written in ‘Arabic’ script.
>
PoliticsRe: Buhari To Unveil Nigerian Army’s New Regimental Colours by 9jaRealist: 7:08pm On Apr 26, 2023
9jaRealist:
English is Nigeria’s ONLY official language…
Although Section 55 of the Constitution also allows for the use of Ibo, Yoruba and Hausa for legislative business.

Arabic is NOT, and has NEVER been, an official language under Nigerian law…
I used to think this inscription was in Hausa (as in the currency), but if it’s Arabic it needs to be removed promptly.
>
PS: I also think that Section 55 of the Constitution should be amended and replaced with “indigenous” languages…
If we earnestly believe in the EQUALITY of all Nigerians, every citizen’s language (and culture) should be EQUAL to others.
>
Actually, on second thoughts…

Nigeria’s official language should be PIDGIN!
EVERY Nigerian speaks and/or understands Pidgin to some extent.
>
PoliticsRe: Buhari To Unveil Nigerian Army’s New Regimental Colours by 9jaRealist:
TheNiceGuy:
You may use rope because it won't be changed.

Arabic is also official language just as English, stop being insensitive.

Between, why are you so much engrossed with Lagos, when will you use moniker related to Imo State, like Prince of Orlu, Ashiwaju of orlu, oloye of orlu
compton11:
English is for southerner and ajami/English is for northerners
English is Nigeria’s ONLY official language…
Although Section 55 of the Constitution also allows for the use of Ibo, Yoruba and Hausa for legislative business.

Arabic is NOT, and has NEVER been, an official language under Nigerian law…
I used to think this inscription was in Hausa (as in the currency), but if it’s Arabic it needs to be removed promptly.

>
PS: I also think that Section 55 of the Constitution should be amended and replaced with “indigenous” languages…
If we earnestly believe in the EQUALITY of all Nigerians, every citizen’s language (and culture) should be EQUAL to others.
>
PoliticsRe: Ousmane Yara Explains Tinubu’s Link With Guinea, Addresses Helicopter Video by 9jaRealist: 1:05am On Apr 26, 2023
TV/MoviesRe: Multichoice Increases Subscription Rates For DSTV, Gotv Packages by 9jaRealist: 12:49am On Apr 26, 2023
IrawoKross:
These South Africans are smart. We failed to patronize our own, now they're increasing their price because we have no choice but to subscribe.
NTA IRUEKPEN is what I will be watching now. grin
Nope! It’s NIGERIANS who’re the smart ones…
They refuse to pay for anything but GOOD QUALITY!

>
TravelRe: What Common Things Surprised You In Other Countries that is lacking in Nigeria? by 9jaRealist: 12:44am On Apr 26, 2023
aboyaji:
I'll go first...

1. Cooking gas: Cooking gas is very cheap in ivory Coast. It costs an average of #330/kg of gas. So refilling a 12.5 kg cylinder should cost you #4125 at most.

2. Kerosene: kerosene costs relatively about #650/ litre in the fuel station, where the black market sells for #800/ litre.

Note : This country's oil production is very poor o. They're not even anywhere close to Naija's production.

3. Organisation: Ivory coast is very well organized that you can barely run into unorganized environment. Many areas are safely guarded by their local police officers stationed almost everywhere. You can as well make friends with the officers easily without any form of threat from them. They're very welcoming.

4. Very low violent place: People can move around as late as 10pm till dawn without the fear of harassment or violence. In fact, children play in the tarred road as late as 10pm. They have already come to terms about how safe they are in the country. People can stay up late wherever they went to without rushing back home due to nightfall. Night movements was my best !

5. Good Road network: I spent close to 7 months in ivory Coast and could barely see a road untarred. Almost every road I used was smoothly done and stretched to various cities and States. The only place my leg touched Sandy soil was in my compound because the landlord was still constructing more buildings in the site. So our compound was sandy at the moment.
Tarred road stretched into all compounds in ivory Coast. It's not the responsibility of the government to do your compound, it's yours. I was marvelled by such development though I spent most of my time in the rural area.

6. Security: Police is your friend is the Moto in ivory Coast. Really nice people. I guess I've said it somewhere before now.

6a. Theft is ALMOST uncertainty. The prepaid meter of every individual house is stationed outside the main building without burglary or iron shield. Anybody can touch it. It wasn't even stationed very high from the ground level. It went only as far as 3-4 feets high. A child of 10 can touch it too.

Our apartment is in a 2 storey building comprising of almost 33 units of one bedroom apartments. The building was built like a shopping complex. All of the prepaid meters used in this apartments are stationed outside where everyone can see and feel it. But no one steals it, likewise every other houses there.

6b. Once there was a particular theft in my ivorian friend's shop that I know of. There were 5 boys who was involved in burgling his computer and phone shop one night. But before 5am, the boys were all caught with the complete stolen items retrieved. Funny enough, my friend didn't know. He was woken up by the police to come to his shop and see the guys. And he didn't have to SETTLE THE POLICE FOR DOING THEIR JOBS grin.

7. There is constant electricity in that country. CONSTANT.
I only observed a few nightouts and those periods were understandable. They all know when the lights would go off in the week or month and have come to terms with it. Light doesn't go off intermittently as obtained in Nigeria. And throughout my stay there, I didn't pay for light bill or water. My caretaker didn't mention it to me too. I was surprised. Steady light cheesy

8. Economy: Their economy is very good. It's almost equaling to the Naira at the time I left. So, if you hear 500 CFA there, it's almost equivalent to 500 Naira. So don't do too much calculation.

8a. Minimum wage is very much respected and applied. A POS attendant over their is living a good standard life. A bar attendant earns about 20,000 CFA weekly... WEEKLY o. I mean a local bar attendant. How much more a corporate hotel or bar attendant or waiter.

8b. The money you earn can fetch you a standard living. Their money is easily made and spent too.

9. FOOD grin grin grin: Our area of specialty.

Food is over cheap compared to what's obtained in Naija. You can see someone who earns little but could afford chicken or any frozen food. Food is not part of their problems for now. Banana can go as low as 50 CFA or 50 Naira and it is not the small quantity we're talking about.

A bunch of Bananas that you can get from a roadside vendor in Naija for 800 could be gotten for 150 CFA. So you see it. Once I bought 2 Bunches of banana for 50 each, I couldn't finish them for 3 days.

9a. So sorry, vegetables can be scarcely found there my dear. I made most of my soup without vegetables. That part I didn't enjoy undecided

That's for now. Anybody can add.
If you want to ruin CIV, simply ship Nigerians there…
The primary problem is not ‘Nigeria’, but NIGERIANS!
grin
>
TravelRe: How Much Will It Cost Nigeria To Build Cities Like These? by 9jaRealist: 12:23am On Apr 26, 2023
Fineman2:
Lol, you are kidding right
We don’t have money…
And until we quit deceiving ourselves that we have, we’re DOOMED.

Yes, we have incredibly bad leadership (and tbh, often bad citizens as well), but…
Even if Nigeria shared every penny it made from oil, it’ll be less than 20cents per Nigerian daily!

By contrast, eg, Kuwait sells about 2x our oil output for 0.5% of our population (about 3m bbl/d for 1m Kuwaitis)…
Saudi Arabia sells about 10x our oil output for about 15% of our population (about 13m bbl/d for 30m Saudis).

What we are really potentially “rich” in is human resources…
If we ADD VALUE through education, healthcare, etc., it holds the promise of greatness (if they don’t “japa” first)!

Otherwise, Nigeria could build similar cities…
And Nigerians will simply use those canals for toilets, bathing, and waste disposal, and the sidewalks as markets.

>
CrimeRe: LASTMA Rescue Accident Victims At Iyana-ipaja, Arrests Passenger With Used Diape by 9jaRealist: 11:54pm On Apr 25, 2023
Calibrator:
Nigeria is a secular state and all citizens have freedom of religion.

What is the legal reference for arresting someone with used diapers because last time I checked, the constitution does not acknowledge fetishism.

If there was no blood on the diapers to arouse foul play or intent to commit harm or any harm committed... This is wrong!
At the very least, it’s an environmental hazard…
He should go explain which “religion” he was observing with 100 used diapers. cheesy
>
PoliticsRe: Fueling Uncertainty:investigating Nigeria's Subsidy Removal And Dangote Refinery by 9jaRealist: 11:25pm On Apr 25, 2023
Realguyman1:
What strawman argument are u talking about? U know when Nigerians done dey complete about bad governance and mismanagment of public fund? Even b4 the subsidy was introduced, Nigerians has been complaining about bad governance and mismanagment of public fund.

So how came about all of a sudden, now that subsidy come dey hold Nigeria from developing?

Have u asked urself or try to read about why fuel and other subsidy was introduced in the first place?
I stated that fuel subsidy is a “significant enough” (NOT the only) cause of Nigerians’ plight…
Nonetheless, FYI, Nigeria was developing faster in the 1960s/70s (during our parent’s era) BEFORE fuel subsidy was introduced.

Subsidy was introduced “in the first place” to ensure price is the same everywhere in the nation, which is obtuse…
It’s one of those distortions of the market, because with EVERY economic good pricing should reflect costs (including logistics).

As the Naira weakened (no thanks to wasting forex on fuel imports), subsidy went from price equalization to price support…
Yet another obtuse economic distortion, because even the roadside Akara seller does not sell them BELOW cost of production.

As I often note on NL, it’s said no-one can ride on your back unless you’re bent over…
The sad reality is that so many Nigerians are COMPLICIT in their fate and eager to grab their ankles for bad policies. SMH
>
PoliticsRe: Fueling Uncertainty:investigating Nigeria's Subsidy Removal And Dangote Refinery by 9jaRealist: 5:14pm On Apr 25, 2023
Realguyman1:
Shay Nigeria was competing with Uk in terms of development b4 the introduction of fuel subsidy regime, abi?
Strawman’s Argument…

Nigeria can develop much better and do much better for its citizens without “competing with UK”…
After all, Nigeria did not benefit from 400 years of slave trade and labor and over a century of colonial exploitation.

Meanwhile, of course, the UK (a major oil producer) does NOT subsidize fuel…
In fact, on the contrary, it TAXES fuel consumption to raise revenue for development that Nigerians “japa” to enjoy.

>
PoliticsRe: Fueling Uncertainty:investigating Nigeria's Subsidy Removal And Dangote Refinery by 9jaRealist:
Realguyman1:
Nor be fuel subsidy dey hold Nigeria from developing or making Nigerians not to enjoy those good things the citizens of those advance countries are enjoying, but the embezzlement of public fund by the governments of all sectors in the country. And if those embezzlement don't stop, removing of subsidy or not will not change anything but rather add more suffering upon common Nigerians.
With all due respect, it is a significant enough part of the reason…
There’s a reason why most of “those advance countries” do NOT have fuel subsidies.

Fuel subsidy distorts the market and DISINCENTIVIZES private (domestic and foreign) investment in the downstream market in Nigeria…
Meanwhile, Nigeria is EXPORTING JOBS to foreign refineries, and SUBSIDIZING/INCENTIVIZING smuggling of fuel to neighboring countries.

Further, since the subsidy regime disincentivizes private investment in refining…
Nigeria continues to deplete a huge percentage of its foreign exchange reserves on imports, and thereby weakening the Naira.

Finally, there’s no way to rationalize that fuel subsidy does not significantly contribute to the plight of Nigerian citizens when…
The subsidy budget in Nigeria is more than the capital budget for education, health, agriculture and security/defense COMBINED!

In fact, the 2023 fuel subsidy of N3.3 trillion for only 6 months…
Is MORE than the entire (capital and recurrent) budget of as that of up to 10 (or perhaps even more) states COMBINED !!
>
PoliticsRe: Fueling Uncertainty:investigating Nigeria's Subsidy Removal And Dangote Refinery by 9jaRealist: 4:19pm On Apr 25, 2023
Realguyman1:
The kind suffer wey many common Nigerians go suffer after the Nigeria useless government done finally remove this scam called fuel subsidy ehn, nor be here o.

Imagine the Nigeria government funding and even obtaining loans on behalf of Dangote refinery. Same refinery that was built by pass governments that this present useless Nigeria governments(especially that of Buhari) can't even maintain, is what they are now funding and obtaining loans on behalf of Dangote refinery for. Nigeria matter loud

Government officials embezzling the money made for public projects has been the reason Nigeria is where it is today and not because of subsidy. I was hoping that Buhari was going to fix those issues when he became president. But no, the old man rather ended up becaming the worst president Nigeria ever had since existence.

The Nigeria useless government are just
suffering the poor masses for nothing, and what surprises me most is that most Nigerians are even comfortable with the suffering. The pass and present Nigeria head of government knows where the problem of Nigeria is, but they rather prefer suffering the poor masses than fixing it.

Nor be fuel subsidy dey hold Nigeria from developing or making Nigerians not to enjoy those good things the citizens of those advance countries are enjoying, but the embezzlement of public fund by the governments of all sectors in the country. And if those embezzlement don't stop, removing of subsidy or not will not change anything but rather add more suffering upon common Nigerians.
The government is NOT taking loans to fund the Dangote Refinery.
The refinery is a $20 billion project, and the federal government has paid merely $1billion as part of its FORCED 20% ownership.

The government (through the NNPC) effectively seized a 20% stake in ALL private refineries in Nigeria (Dangote, Waltersmith, etc.) supposedly to secure national energy supplies. To pay for the 20% stake, which the banks/underwriters valued at $2.8 billion (in other words, what the 20% would be worth in the capital market), the NNPC is paying only $1 billion in cash, and will satisfy the remainder of its obligations via crude supplies (in the future) and by not collecting on some of the distribution of profits. In effect, the NNPC is getting present-day value of $2.8 billion (which goes into its balance of accounts today) with only a commitment for future obligations.

THE ENTIRE ARTICLE IS JUNK!!
>
PoliticsRe: Fueling Uncertainty:investigating Nigeria's Subsidy Removal And Dangote Refinery by 9jaRealist: 3:58pm On Apr 25, 2023
prophetfire:
Did you read it at all? Seems they have turned the refinery to another siphoning conduit.
Someone took about a minute to dismantle the bad belle “article” on SkyscraperCity… grin grin grin
https://www.skyscrapercity.com/threads/dangote-lagos-refinery.1927698/page-24

Too many fictional ‘facts’ to deconstruct, but here are the principal ones.

1) The fuel subsidy is not yet ended. It is billed to end in June (IMHO should have been ended decades ago).
2) The project is being financed principally from INTERNAL funds, despite the bank loan of $3.3 billion.
3) The Dangote Group did NOT ask the FG or the NNPC to take a 20 equity stake.
4) Instead, the NNPC decreed it was taking a 20% in Dangote Ref, Waltersmith Ref, and ALL domestic refs.
6) Only about $1billion of the assessed $2.76 billion equity value is in cash, the rest in crude supplies.
7) Equity is NOT paid after completion of a project, it is OWNERSHIP participation in a business.
8 ) Equity stake is NOT a loan. As ownership stake, it is only ”returned” through dividends/distribution of profits, if any.
9) Dangote Group did NOT miss any interest payments (nor default on any of its loans).
10) Rather, the group raised an additional $750m in corporate bonds in March, which was OVERSUBSCRIBED!
11) The project began test-running parts of the refinery in December, in anticipation of 2023 commissioning.
12) According to Bloomberg and S&P reports, the crude distillation unit (the heartbeat) began test-runs in March.

Sadly, there remains rampant functional illiteracy in the Nigerian public space.
>
PoliticsRe: Fueling Uncertainty:investigating Nigeria's Subsidy Removal And Dangote Refinery by 9jaRealist: 3:49pm On Apr 25, 2023
aminulive:
By Sylvester Audu
https://politicsnigeria.com/fueling-uncertainty-investigating-nigerias-subsidy-removal-and-the-dangote-refinery-debacle/
Never knew such a collection of CRAP can be fit into one “article”…SMDH
>

1 2 3 4 5 6 7 8 ... 29 30 31 32 33 34 35 36 37 (of 376 pages)