₦airaland Forum

Ibime:
If you can read between the lines, Ganduje is being taken out the game. That's why Ganduje flatly and vociferously rejected the offer. Ambassador role is political exile. Tinubu is getting rid of him duplicitously by saying the role will shield him from prosecution meanwhile in Gandujes mind, Tinubu just wants to get rid of him, and he knows Tinubu can quash any charges against him so Tinubu excuse doesn't hold water. In Game of thrones, this is the equivalent of sending you to The Wall instead of executing you.

Why should Tinubu keep Ganduje around to revive his power base in Kano? Ganduje failed to deliver the last election in Kano on both Presidential and Gubernatorial level. Tinubu is better off raising his own man in Kano. Ganduje is now politically useless but Tinubu does not want to take him out the backdoor and shoot him in the head. Instead if Ganduje has sense, he should settle for exile and enjoy his loot. All those Aregbesola and Willie Obiano doing the same don't have two heads.

I agree with most of what u’ve aside the bolded.

How else did Ganduje want to deliver more than he did in Kano at the last presidential election ?

The state Tinubu had the highest number of votes is Lagos (572k votes ) followed by Kano where he had 517k votes . I believe if not for Ganduje’s influence sef NNDP(Abi wetin be the name of party of that red cap fraud) would’ve swept the votes massively .

As much as Tinubu is taking him out with the ambassadorial role, he is also shielding him from prosecution . That was how Buratai sef escape with Buhari making him an ambassador

larride:
Even with GEJ and co. E touch all of them.

The guy really penetrate the upper echelon of the ruling class

afrodoc2:
You just described something close to what our man is. Alot of Khashoggi's dealings were borderline if not outright criminal.

The thing is without links at the top levels of government it is difficult to survive for long in that sort of business. The surprising thing would be if someone was a major gunrunner and smuggler in a country like Nigeria and had no links to government.

Well, most of the things I read about the Khashoggi seem quite different from this our own o. Khashoggi was a Saudi who was never really found to have fallen short of the Saudi laws.

Our own guy is practically waging war against his own country by selling weapons to bandits, terrorists and separatists while frolicking with those governing the same country.

Tinubu allegedly recommend Ganduje for ambassadorial role. So, like this Ganduje who is fighting a corruption case is being offered ambassadorial role that will confer on him diplomatic immunity.

Later we will be lying to ourselves that yahoo boys are the ones tarnishing our image outside the country. How do u explain it when a president is giving such role to an ex-governor whose bribery video is everywhere on the internet?

https://www.nairaland.com/8186215/tinubu-recommends-ganduje-ambassadorial-role

afrodoc2:
At the highest levels of such ventures, yes. In his own mind he is probably not a criminal but a businessman. Do you know about Adnan Khashoggi?

I just looked him up; seems he's a Lobbyist, businessman and arms dealer.

afrodoc2:
You are asking the wrong questions.

Why would a gun runner, anarchist, and smuggler not be in bed with people that matter in government?

I know criminals like to roll with the high and mighty, but to the extent of having access to presidents?

ouzo1:
DSS work dis days na to track stolen phones and protesters.

It's unfortunate. IBD Dende that was caught on camera threatening a customs officer for seizing his smuggled goods, dem no DSS no gree investigate am since all these days.

Smh

Amigoss:
That viral quote attributed to Abacha that says if insecurity persists after 24 or 48hrs is govt sponsored,no be lie.....

This guy don recently offend some people in govt,na why this news is in public domain now.......Most of those politicians he has had pictures with, no fit talk say dem no know him profile....

This particular story never clear.

If the guy is indeed what they claim he is -a gun runner, smuggler and anarchist; How come he is in bed with all the people that matter in government?

How come DSS no catch am all these while he's been frolicking with presidents, governor and NSA? Wetin gan gan come be the work of DSS?

For the umpteenth time ; If dem explain Nigeria give u and u understand , then the person no explain well.

So the guy arrested for suspected sponsoring of protesters ,gun running , smuggling etc was actually a special assistant to our current Minister for defence and he’s been seen in the same space with the ruling class .😮

He has a picture with the previous president, the current president , current NSA, current chief of staff , and current minister for defence .

larride:
Everything happened under Amosun.

Then his administration has a lot of question to answer. He needs to explain why they renege on the contract they had earlier signed with the Chinese company that led to this mess.

He successor too needs to tell us why nothing has been done to try and engage the Chinese company for possible settlement.

Maybe they thought FG will chest their bills.

GloriousGbola:
as an aside, this is what happens when you renege on signed agreements.
for those who think IOCs can just say i no dey do again

I've just been laughing at monerozi funny takes on the IOCs matter.

If renege on signed agreement in international business u don 4ck up and u will definitely find out when they start getting forfeiture orders against u in international courts. That is why most of those companies engage reputable corporate law firms

GloriousGbola:
But how is FG collecting stray bullet for Ogun state. did FG guarantee the loan? [FG was required to guarantee the original world bank loan for lagos badagry expressway]

i am sure if this is investigated it will be like the PID where some bastards signed off on a deal that would fk nigeria in all orifices for the equivalent of crumbs

Ogun state is a subnational of Nigeria. It was Nigeria Export Processing Zones Authority that registered the Chinese company before Ogun state entered into a contract with them as a sub of Nigeria.

Nigeria is obviously vicariously liable for the transgressions of Ogun State. It is just like when u work for a company, whatever liability that comes while u are doing the job is tied to ur employers. For example if a driver rams his vehicle into ur fence, it is the company that employed him that will be liable for the repairs of ur fence.

The fact that Nigeria has bilateral trade agreement with China is also a major factor. I don't know the terms of such agreement but I want to believe it will include clauses like holding FG responsible for actions of member states like Ogun state. That is the only explanation to why the Chinese company refer to the trade agreement and the judge granted their request to seize Nigerian assets abroad.

FG needs to go hard on Ogun state. Whoever was governor in 2016 in Ogun state is responsible for this mess. Instead of FG begging Ogun state, they should move against the governor and his cabinet members responsible for this mess. They should seize their assets too; but I doubt that will ever happen especially if the person now belongs to the ruling party.

The Nigeria Export Processing Zones Authority registered Zhongfu International Investment (NIG) FZE, a subsidiary of Zhongshan, as a free trade zone enterprise within the OGFZ in 2011. The Ogun State government later appointed Zhongfu as the interim manager/administrator of the zone.

But in July 2016, Zhongfu alleged that the Ogun State Government moved to terminate its appointment, and appoint another manager for the free trade zone.

Zhongfu then launched an investment treaty arbitration against Nigeria, citing the bilateral investment treaty between the People’s Republic of China and Nigeria.

On 26 March 2021, an arbitral tribunal issued a final award of $55,675,000 in addition to an interest of $9.4 million and costs of £2,864,445 payable by Nigeria to Zhongshan.

PREMIUM TIMES learned that afterwards, the federal government repeatedly pleaded with the Ogun State Government to amicably resolve its dispute with Zhongshan but still no settlement was reached

New presidential jet wey we never take delivery of, dem don seize am

A French court has authorised the seizure of three presidential jets linked to the Federal Government of Nigeria, sources familiar with the matter have told PREMIUM TIMES.

Two of the jets, part of the Nigerian presidential air fleet, were recently put up for sale, while the third, an Airbus 330, was purchased by Nigeria but not yet delivered.

The seizure of the presidential jets is a result of an application by Zhongshan, a Chinese company whose export processing zone management contract was revoked by the Ogun State government in 2016.

An independent arbitral tribunal chaired by the former President of the UK Supreme Court awarded Zhongshan about $74.5 million in compensation, but the Ogun State government, which has a dispute with Zhongshan, has yet to honour the award.

The Federal Government is facing this backlash over an action taken by one of its subnationals with which Zhongshan has a business dispute.

[The seized presidential jets include a Dassault Falcon 7X at Le Bourget airport in Paris, a Boeing 737, and an Airbus 330 at Basel-Mulhouse airport in Switzerland. All are currently undergoing maintenance. The Nigerian government reportedly paid over $100 million for the Airbus

https://www.nairaland.com/8185889/3-nigerian-presidential-jets-seized

Iamoyindamola do u have link for all seasons of The Americans? I read somewhere that it is a good series

OkpaNsukkaisBae:
Ask them on Twitter... These are English people who said they're moving to DPRK. North Korea have accepted their request.

true true miracle no dey tire jesus

lolz 😂

U go Dey follow mouth. U will learn

OkpaNsukkaisBae:
Say no more..

Prayers answered..

North Korea of all places in the world ?

akwesenana:
Please how true is this?

It is true but they have withdrawn the bill after public outrage

Segedinho:
Na d opke wey want govern Edo bdis?

The APC governorship candidate for Edo State disgracing himself on stage. pic.twitter.com/ZNY59vgGLS

— Peter Obi Grassroots Mobilization. (@PO_GrassRootM) August 14, 2024

/mediaViewer?currentTweet=1823712469367579047&currentTweetUser=PO_GrassRootM

Do u have any video of this man speaking in the senate? If yes, please share I want to listen to him without the intermittent cut and join laughing videos

liveLongNprospa:
This man.
Dangote is saying they should sell him crude oil at the market price of crude.
If 1 barrel is $80, that is what he wants to buy.
He's asking them to stop selling through their subsidiaries after they have carried oil outside naija.
Unless you have new information I'm not aware of.

Let me ask you a question: Why do u think Dangote refinery is considering setting up a London based trading arm?

If crude oil business is as simple as " If crude is 1 barrel per $80, then sell to me because u have the product" ; why do u think oil and gas companies set up trading offices in Dubai, London, etc.? These are trading offices run by expats who are international trade specialists paid in dollars.

Do u feel those guys are paid hundreds of thousands in dollars to just sit down to do "willing buyer willing seller" ?

Itsrm:
Looks like it is. Except Dangote is lying.

Baba, I took law courses and from what I could remember there are exceptions to rules and laws . For example now , in law of contract it said that any contract entered into with a person of unsound mind(let’s say mad man ) is null and void except it can be proven such person was in a lucid state as at the time of contract agreement.

Now that exception in bold matters a lot.

In application to Dangote/NNPC/NUPRC matter, if NUPRC are saying they can’t enforce the DCSO, it is because they are aware that “sanctity of contracts “ supersedes our toothless PIA in international business law. Oil and gas is an international trade through and through .

I think Dangote will be fine if he learns from hordes of mistakes he has made in this business venture

liveLongNprospa:
The IOC's cannot fulfil their contracts because the DCSO in the PIA has been triggered.

That's the place Dangote has used to hold them.
The IOC's now have to drag FG for the windfall in oil production that has led to this, which is no fault of Dangote.

It's one thing to say we have high oil production so everybody can get oil easily. Sadly we don't and the PIA has created a DSCO (energy security) to address that part. Unless I am missing something here.

If u believe this , then why has Dangote not enforced this through arbitration or law courts ? Why is he coming to the court of public opinion ?

liveLongNprospa:
I understand this but let us tackle these issues one after the other.

The DCSO in the PIA mandates the FG to ensure the necessary crude oil supply at market price to local refineries.
This document was agreed with the IOC's before it was passed as law.
They also know it exists outside of their existing deals.

The image below gives an understanding to what happens.
Before oil is sold outside Nigeria, the act states that Dangote has to first buy the amount of crude oil he deems necessary for the refinery. If the IOC's do not agree, the FG is mandated to not issue export permit.
They all agreed to it.

God see me dey fight for this mumu man🙄


So the question is why is FG not doing that?
Dangote has not said he can't pay the market price for oil.
So wetin be the issue gan gan?
It's not illegal and the IOC's can't claim they don't know about it because they were all carried along during the development of the PIA.
Unless they come and tell Nigerians something new that we don't know sha

Let me ask u one question .

Let’s say there’s an agreement between FG/NNPC and let’s say Shell for oil exploration and the agreement says Shell gets 40% and NNPC 60% of the crude explored.

Now the NNPC has obligations to repay those loans out of their 60% of the last crude tapped out of the ground; they also need to sell some to international refineries to make the country money etc .

If IOCs out of their 40% chose to favor their own customers which they have contracts signed with first and then offer Dangote crude at a premium price , is that a crime according to PIA ?

monerozi5590:
I have trashed this issue already and I don't like repeating myself. Is your opinion. After all you even believed the lies of someone that doesn't like Dangote by saying Shell, Agip, etc have left Nigeria.

.....but please, can you tell me the propaganda Buhari did with Dangote refinery?

Most Nigerians believe Dangote refinery (a private business that is established with profit motives) will commence operation and make the after-effects of subsidy removal disappear. No disillusion surpasses that. A lot of people including u believe once Dangote comes on board PMS will be significantly cheaper simply because Dangote will be getting crude locally.

The same Buhari government entered into several forward sales for untapped crude . Now NNPC doesn’t have enough crude, Dangote is crying (for failing to plan properly ) and people think it’s the “cabals “ that are causing him to cry.

Even from ur position as of now sef, it appears u still believe the only reason u are not buying fuel for N200/liter is because Dangote is being frustrated from refining PMS locally 😂

Ibime:
I believe the nail must be having migraines by now cos you keep hitting it on the head.

Either Dangote has contract for supply of crude or he does not.

Na simple sturvs.

I don't believe anyone is compelled to do anything in business unless they have contractual agreement. Once you align with a suppliers profit motive or legal obligation, there is no need for long talk or reh reh reh. Business is not vibes and inshi-Allah.

The devil is in the detail here. Dangote may argue that Government has a moral obligation to subsidise the nations internal crude demand and supply crude in Naira at a discount. Is that crude demand 650,000 barrels (refinery capacity), 100,000 barrels or 200,000 barrels? Govt supplying anything above Nigerias internal demand is subsidising Dangotes profit margin, not Nigerians

Let's assume Nigerians only actually consume 100,000 barrels per day and NNPC supplies Dangote 650,000 barrells at discount. The excess 550,000 barrells will be exported at international market prices to Dangotes benefit. So it's important to establish Nigerias internal demand and only supply him that amount at discount if we are to agree that all Nigerians deserve a subsidy windfall as a result of our citizenship. We must be precise when dealing with numbers.

The honest truth is Dangote is only supplying diesel at the moment and Government has no historical moral obligation with its citizens to subsidise diesel for them. We may discuss FG providing petrol subsidy to its citizens via Dangote when Dangote is in a position to supply PMS. Until then, Dangote is a normal market participant like any other and must compete for supply like any other by paying the market price for supply.

The whole point of refinery is to make your profit by adding value through the refining process. The input price of crude should not matter unless you are a rent seeker. Your profit is the difference in price between refined crude and unrefined crude less your costs. If Dangote wants Nigerian crude, he should bid the right price. Anything else na story.

How many times have we read that dozens of ships with Nigerian crude are just parked in the high seas awaiting buyers who are not forthcoming from time to time. Dangote can have Nigerian crude if he pays the right price, what he wants is discount as always ontop say na Diesel him want produce and FG does not subsidise diesel.

Dangote understands that Nigerians hate Nigerian government more than they like the truth/facts and he’s using that to his utmost advantage .

He knows Nigerians would rather believe FG/NNPC/Cabals messed up instead of believing the fault is totally his for overly relying on government’s benevolence where he should be relying on contracts signed instead.

Spy360:
Without arguing the accuracy of what you have stated here. My question is should Nigerians and the economy suffer because of a simple document Dangote is unable to provide?

If this were to be Saudi Arabia or Britain for example, would they use such bureaucracy to hamper their economic well being?

If Dangote refinery can help alleviate the problems Nigerians are facing then all the blame goes to the government.

U need to watch the video and understand some things first . If u watch the video , it will disabuse ur mind and purge it of some preconceived misinformation that probably formed the basis upon which u are asking this question.

There’s a price for failure to plan and it’s usually costly . It is costlier for a multi-billion dollar business .

What u call simple document can make or mar ur business and all investments.

For ur information , all over the world there’s no refinery that rely solely on crude from local sources as feedstock . Refineries all over the world source their crude from different sources . two of the largest refineries in the world are sighted in Singapore and South Korea yet, none of the two countries has proven oil reserves. It simply means they buy crude , refine and export fuel & its byproducts .

The government owned Kaduna refinery , before it commenced operations back then Nigeria entered into supply contract with Venezuela and Saudi Arabia to be supplying us crude for the refinery . That’s the standard practice , a refinery enters into contract if supply with suppliers years ahead so u don’t have a fully functional refinery with no feedstock to refine .

Permit me to ask ; which problem is the Dangote refinery (a private business ) supposed to alleviate ?

liveLongNprospa:
But this issue has been trashed.
Dangote doesn't want discount ooo.
He wants to pay the actual price of crude and not the price the IOC state for him after adding multiple charges (which is against the PIA they all signed).

This is another thing people are getting wrong ; THE PIA.

The PIA like some of Nigerian laws is another vague document that is not specific in addressing critical matters appropriately (matters the local allocation of crude u are referring to )

For example, the PIA was not clear/specific on the quantity of oil that must be allocated to local refineries . Nowhere in the act did it say local refineries must get all their crude from Nigeria’s portion of crude.

So when NNPC is unable to give them the quantity they require , they have no choice but to refer them to IOCs operating in Nigeria . The IOCs unlike Dangote have a lot of forward contracts already signed with other refineries all over the world to supply them at the normal regular price . It is only normal for them to sell above premium to u at that point because u are in dire need of the crude .

I don’t the process our law makers use in drafting laws but I think they need to always carry relevant stakeholders along so that some of these laws can actually be specific and address the most critical issues . It’s not just PIA if u check several other legislations like Electoral act, u will see vagueness and inconsistency in some of its provisions

raumdeuter:
This part in bold here is key

FG has sold a significant part of our future crude and the buyer is waiting, So where do they get enough for Dangote and at the same time enough to get funds for running the day to day govt

Dangote might need to speak to Tompolo if they have some crude supply for him, instead of selling stolen crude abroad

😂😂😂😂

Another angu ! He should have an arrangement with Tompolo to be arresting crude thieves and sending the seized crude to him instead of destroying the crude and vessel

GloriousGbola:
to be fair though i think dangote had seriously been counting on that 20% for cash flow to complete the refinery. now the man is in a very hard place.

https://nairametrics.com/2024/07/14/breaking-nnpc-no-longer-owns-20-of-dangote-refinery-says-aliko-dangote/



dangote likely needs 1.76 billion usd to ensure his refinery is fully operational.

Yeah, I understand . It appears he counted his chicks before they hatched .

He relied on funds NNPC don’t have readily available and don’t have prospect of raising considering so many obligations they are tied to fulfill.

Now they have left him behind !

*In Asari voice* Dem tear gas am! He fell, He fainted , he pass out; He pass out !

liveLongNprospa:
I thought the inability for NNPC to provide a certain amount of crude oil also was part of the reason their 20% reduced to 7% stake

No na, u are conflating issues . That stake had nothing to do with availability of crude or no availability of crude .

NNPC’s stake in Dangote refinery is limited by shares which they paid-up to the tune of 7%. It was supposed to be 20%, NNPC paid for 7% and promised to pay the balance at a later date which they never did. That was why Dangote had to set record straight that NNPC has just 7% stake in his refinery . What it simply means is that if Dangote does business and makes profit , NNPC will get 7% of the profit declared as dividend to shareholders .

This has nothing to do with NNPC giving him crude or not.

I think what is responsible for all these confusion is how Buhari’s government was using Dangote’s private refinery to run PR for itself while it lasted . So many people are disillusioned by the reality of things . Dangote’s silence while the going was sweet also didn’t help matters

GloriousGbola:
One of the ways in which Nigerians brains have been thoroughly fked is they think businesses with significant capital outlay can be run as altruistic charity. To this day Nigerians hail adenuga for per second billing because they actually think he did it out of altruism.

But what can you expect in the country that gave us ajaoluta where people spent entire careers, collected pension and gratuity without delivering any value? The country that gave us nnpc kaduna.

Once you enter a business / industry you haven't worked in before there will be a learning curve and there will be mistakes. That is where dangote is right now.

As for rufai oseni, always keep in mind he is far from cerebral - he read Animal Anatomy & Physiology at the University of Agriculture, Abeokuta. He is not going to give you researched or deep dive takes

It was really funny seeing Rufai not keeping calm to learn instead he was more interested in discussing the *Malta Debacle*. He was hassling the Kachikwu guy like the guy was APC/FG/NNPC spokesperson .

I believe they brought the guy in to share his perspective and also educate the public about the issues and non-issues over the whole Dangote Refinery matter . To me , Rufai was just seeing it as another opportunity to knock APC/FG for their numerous mess-ups.

The main issue : WHAT WAS DANGOTE’s PLAN ON SOURCING FEEDSTOCK ?

If he has any legal document/contract that FG has breached , let him enforce his right to seek redress through available channels . You don’t run such a multi-billion dollar venture on hope and “Trust me bro, I go lie for u ? “ 😂

Theflint1:
A perspective on the Dangote vs NNPC issue

Larride, LivelongnProspa, BlueRayDick, Izzou


https://www.youtube.com/watch?v=rA7leQMzhFg

God bless Dumebi Kachikwu; finally someone has to call it what it is. Most of the fault is on Dangote for failing to have relevant contracts signed for feedstock supply and a part of the blame is on NNPC/FG under Buhari that was busy selling hope that The Dangote Refinery NNPC/Dangote joint venture that is the solution to our oil problems.

I mentioned it the last time I was discussing with Monerozi and prospa that Dangote needs to provide an agreement/contract signed with NNPC pledging feedstock to him. In the oil and gas space nobody relies on gentleman agreements that are not enforceable either at arbitration or in law courts . Like Kachikwu rightly stated , players in the Oil and Gas space sign agreements years ahead before even commissioning the plant ( I know these things, in fact I’ve been privileged to sight one of such documents between one of the players in the industry and its suppliers)

You didn’t build a 650,000bpd refinery designed to serve the west African market only to be relying on crude from NNPC that keeps entering into forward sales of untapped crude every eke market day. All those letter headed press release Dangote group keeps churning are just emotions, emotions and emotions .

NNPC/FG under Buhari had used so much propaganda to pollute people’s minds to the extent that they genuinely believe Dangote refinery (a private company that has its shareholders and management team who take business decisions with profit motive) will takeover the responsibility of subsidy (a socialist initiative ) which FG was running away from.

I can see Rufai has already conditioned his mind to believe “cabals are after Dangote “ 😂. No matter how Kachikwu tries to disabuse his mind to focus on real issues; he’s bent on believing “the Malta connection” being responsible for why Dangote doesn’t have crude .

NNPC too have their fault for not being transparent with details of the forward loans they took , how much they pledged, how much crude we have after deducting the crude repayment and the duration of the loans