₦airaland Forum

mikeapollo:
Great!
That means SEPLAT's production cost profile is similar or close to global benchmarks. Partly explains why they have remained profitable over the years.

Yes sir.
The only problem is the current license type on most of the acquired Mobil assets. They carry very high tax rates, once they complete the license conversions, tax rates will drop, and earnings will surge

mikeapollo:
Spot on!.
I didn't know SEPLAT reports costs at around $12 per barrel of crude. Interesting!

$14.1 in 9M '25
$9.7 in 2024

The BUA twins have pushed index above 152k!

Agbalowomeri:
Na when Brent reach $50 Una go wake up to realise that crude has actually crashed from a height of about $120. Ire o

In an efficient system where production costs are kept below $12, brent at $50 wouldn't be such a big deal. Why the government feels it's okay to prouce at $45 nd sell $60 or less is what's concerning. Same country where SEPLAT report costs at around $12.

Now Tantita is all over Channels TV sending season's greetings when consumer companies like NESTLE aren't even doing as much. Can you blame them? They get over 10% of production for settlement in their funny security contract that could have been replaced with a much more cost effective one

Like Alhaji said on Sunday, a time will come when the crude oil market becomes a buyer's market.

Imagine, you have the largest single train refinery in your backyard, yet you're struggling to find buyer for your crude

When will things become normal in this country

Redoil:
and price did not move

Given that it was off market.

Streetinvestor2:
I am not saying food stuff price didn't come down and I have said the reason why that is the only thing I noticed is down. I said out side that area nothing is coming down in the way this yeye inflation figures u post since the past 8 months is happening as a business man in many segment of the market And for food price coming down is nothing special this government did that made it happen. Hunger pushed large number of people into farming in South so we have large supply. Then many are crying in the lost they incured due to imput cost and won't try it next yr so expect decline again in supply so price are going to head up again. I have friends who have other sources of income and packed thr harvested produce and refused to sell at this prices.
Time will tell but food prices will still go up next yr

You're right.

Itzlinda mentioned the situation with farmers previously.

Fuel too is down.
PMS and diesel.

You'll be right to say the government doesn't own the credit, but fact is, those commodities are cheaper yoy.


And food and transportation already account for around 2 thirds of the inflation basket.

I'm on a journey to consistently trade 1% of the market.

The larger the market grows, the better it is for me.

If this market grows to start doing N10trn in monthly trades, 1% of that is N100bn,

1.5% of that 1% is N1.5bn in monthly earnings.

Brokerage fees will be N500m per month.

At that point, it'll be better to buy off an inactive stockbroker or negotiate fees to 0.2%

It's just a matter of time.

Streetinvestor2:
It is the worst I have witnessed in my existence not from another person experience or account as someone who used 1 kobo .
My best malt then green shandy..lol
Is it only this Inflation figures u see as economic thing. Didn't u see when they announced to have met revenue target
If alhaji hasn't fought like me as street see how that faruk has already given approval for that large quantity of fuel for q1 2026.
You see why I like street fight. It is the fastest way to get results in nigeria. Imagine if alhaji was being a gentleman and going to court

My view of the economy is mostly related to the stock market.

So whether they meet revenue target or not, it's mostly their business.

As long as they don't start printing naira again to dilute our holdings making them worth less.


Apart from the real impact of lower inflation meaning lower cost of living for people, which is great, as a market participant, 14% inflation should imply MPR at around 15% or less and fixed income yields at single digits.

That drives liquidity into my space, and pushes up average PE in the market.

So that's it for me, I don't care much about their politics. I've never voted in any election.

Streetinvestor2:
I am in SE or SS this days.When I snap the prices in Tantalizer mart over here and market square which is what I use.Then u will tell me why the prices are like that as big names in the mart business presently.
I will want to know why they have like 20k difference with that mart.I hope u know nigeria is not about one state alone

I am not disputing the price you pay in the East. Why would I do that?

Now even if you currently pay 20k more in the East, it's still no proof that prices aren't lower yoy.

The proof you need to share is that you pay 80k for big bull this year, and last year, in the same south east for the same big bull, you didn't pay more than 80k.

That's the proof that will support your argument.


So like you said, inflation is a measure of same commodity in same place compared between two time frames 1 year apart, it's not Lagos price vs Enugu price.

It's Enugu price this year vs Enugu price same period last year.

Streetinvestor2:
This numbers are coming from same government which came out months back to announce they have met revenue target. And now the person in charge of the economy says it is far from the truth. Infact from thr propaganda office they are already in single digit inflation on thr book and campaign train. Very soon thr disgraced ngx will do thr thing with 1 or 2 stock to get ASI to 155k for them to announce.
Government of failure and lies..lol

You and this government, I doubt anyone can settle your quarrel 😁😁😁😁

emmanuelewumi:
How brands of Big Bull do we have, I bought 3 bags today

I think it's just one. Produced by Chi.

If you're referring to the image I attached, they're for different sizes: 50kg and 25kg.

@streetinvestor2, Pa Emma has now confirmed that he bought 3 bags today at 59k.

ppogba:
It is good to interpolate. However, it is logical to factor in other factors that may rubbish the interpolation. For example, the festivity of the December period will have a say in the inflation figure that will be expected.

That's a realistic interpolation you're talking about.

I'm on an optimistic one 😁

emmanuelewumi:
Is there a link to this

Yes sir.
I included it in the post next to this one you quoted.

SonofElElyonRet:
Not voluntary. Soft landing instead of sack

Let them sha allow the refinery breathe.

Although I'm still looking at Alhaji with side eye sha, let it not be that once all these issues are resolved now, he will start gradual price increases back towards 1000 per liter.


Cos we highlighted the disparity in cement prices earlier where he raised price in Nigeria by 40% this year while leaving prices flat in other markets.

About 58% EBIDTA margins here compared to 16% pan African.

Even he has now started admitting that he sells exports cheaper, claiming that because it's his excess he can afford to dump.

Alhaji, nobody says you shouldn't dump, we're just saying don't choke us the domestic consumers in the process.


There's absolutely no reason cement should have gone up to 10k this year. Now Pop cement is even cheaper than regular cement.

chimex38:
Lol..
It's kinda rhetorical na.
and you're obviously not the target.
You suppose know Agba

I said let me look for his trouble na.

ppogba:
A single digit inflation figure before the next MPR. is as impossible as expecting Yaya Bello and Natasha at a valentine dinner table together.
Let us be drinking water with the little little progressive drop for. now rather than an elephantine jump.

All the good things you wish for. the economy are in line with my own wish too.

Haba na.

18.02 to 14.45 only took 2 months.

If we interpolate, 14.45 to 9.78 should only take 2-3 months 😁

Why did you now bring yahaya below and his nemesis into inflation talks 😁

Streetinvestor2:
At this point I keep wondering what is this your personal expenses beside food stuff that have drop in price based on inflation coming down I had said why the price of food came down this yr.The way is going it may go up seriously next yr.If you have friends who are farmers u can verify. The loss they are having is alarming based on thr cost inputs mostly first timers.They are all backing out next yr so supply will definitely crash.Some are now refusing to sell thr harvested produce from farms
You didn't buy steel cheap rather they gave u a lesser MM or length..lol.
Forget what is written on the body.Go verify with foreign steel of same MM

True I didn't buy TMT steel, but both TMT and local steel are about 15% cheaper yoy.

Local steel hit N1.02m at some point last year, I bought at around 820k.

Besides food, drinks, fuel and data.

Even me sef, I don't know what else I spend on.

There's of course gifts to family.

I don't like Red Bull and I don't club so my expenses are lean 😁

I spend on power too, but that's been flat yoy.

Streetinvestor2:
ok I will post the price when I go to market square or Tantalizer mart this wknd.
This your mart do they have it in SS or SE

It's not my mart 😁
Although if they ever plan to list, I may buy if the numbers show sustainability in their business model.

I only know they're on Lagos mainland, but they're expanding.

Maybe about 100 stores at the moment.

Streetinvestor2:
leave the big or red in the bull,lol
Tell me how prices have crashed down in phones accessories, the app tools,IT thing s u use

I haven't bought phone accessories this year.

I did buy some Bluetooth input devices for my workstation but I didn't buy them last year so I don't know how much they cost, more importantly they represent less than 1% of my expenses.


I did spend on a building project though where I paid more for sand, cement, labour, blocks and especially planks.


But I paid less for white cement and less for steel.

That's a different expense category though, it's not a personal expense.

It was even 59k in October!

@streetinvestor2

Streetinvestor2:
It is a lie.red bull is not 68kit is still over 80k in market Square because u don't see it readily available in open market. It is all those mama Africa and other bands u see btw 65k -70k

Again, it's not Red Bull 😁😁.


I do not lie.
I can't remember the last time I did.

Fact is, even if I inadvertently do, the statement ends up becoming true.


For Big Bull 50kg, it's 68k at Bokku.

I've mentioned here before that that chain sells things very cheap.

That might explain why your purchase price is higher.

Itzlinda:
And we have to detach ourselves from mentality. That era is long gone.
Rice that sold for 3000 last year is now 1500 naira. The only price of things that have not come down is oil, cement and may be milk

We can't really blame people na, cos for most people their income level has changed much from what it was in 2022, so we can understand their stance.

But for informed and well to do persons like @streetinvestor2, I don't know why they don't want to agree with the numbers.

Streetinvestor2:
Pls what are this your personal things beside food stuff that are 80% cheaper. Sorry big bull.How much is 50kg

I didn't say anything is 80% cheaper o 😁😁

I said 80% of the things I spend on are cheaper.

My expenses are lean though.

Big bull was 93k for 50kg last year.
Today it's 68k.

Other foods and drinks are all cheaper too.

PMS was 900 to 1000 last year
Today, it's already below 800.



Apart from food, fuel, data, there's not much I spend on. Clothes are harder to compare cos you're buying different clothes last year vs this year.

Streetinvestor2:
They keep saying the inflation is coming down and I wonder how.Then I remember u people say it has nothing to do with Current price and goods as in the market. I hope many of you are doing shopping for your families and other things for the festive period. I jhope u are really buying quality things at cheap prices as inflation is coming down.Personal I always go for quality in things I buy fir myself or anyone or I don't buy if I don't have enough cash. Even the rice they say is cheap is not really cheap if u are going for good brand like redbull by chivita. Go check the price of red rice for 25kg

It's Big Bull.

But I understand, Red Bull might have a special place in your heart 😁😁😁


On a serious note though, the only reason people claim inflation drop isn't real is cos they're comparing today's prices to 2022 price levels.


But inflation is year on year and over 80% of my expenses for instance are cheaper yoy.

Apart from data(Internet expense), I can't think of any other personal expense that's more expensive this year.

Agbalowomeri:
You dey fight with dollar billionaire
Who you be?

I wasn't fighting him 😁

You should use 3rd person pronoun, you used second person as if na me commit.

ppogba:
They should collect small change from him.
Resignation into stupendous wealth of course.

As long as Alhaji's issues are solved. Personally I don't care much about the small change 😁😁

If the refinery thrives and we keep buying PMS at 700, dollars at 1400 and reserves above $50bn I'll prefer those.

Some of us are already hoping for single digits inflation prints before the next MPC meeting.

Let them come and explain why they won't cut by 700bs if we're already having single digit inflation.


The issues solved also mean the listing will be a huge success.

Gbenga too

https://x.com/aonanuga1956

Farouk has resigned!

Willie2015:
I dey laugh in greek

If the figure is absolute, it's nothing strange.
N20 of 10 years' time might be worth same as just N2 of today, just as N20 of today is only worth slightly more than N2 of 10 years ago.

About 22% of ETI was crossed today.

22%!!!!

Redoil:
150k in which economy

index should close above 150k today or tomorrow.