₦airaland Forum

chatinent:
What did the Bereans do?

chimex38:
Some measures for some set of religious people:
If a doctrine, has been criticized
-especially when probably presented by dissents, atheists, other religious, apostates,
and such people still defend it without evaluation.

Only for the organization to finally acknowledge years later and make doctrinal amends then what says about such persons who were initially very defensive?

I think they are unfortunately kinda like Robots(GIGO) to their religion and fanatics who see every spiritual and Bible discuss as
-Me Vs you thing,
-my religion Vs your religion.


Cuz if what your hierarchy leads "prayed and studied" has been revealed to the people you call faithless, long ago and you were fighting off their criticism. What does that make of one's thought process now even with one's supposedly better wealth of knowledge.?

Then why aknowledge what you've been against cuz its coming from your "divine guided hierarchy".
What happened to, awareness, Bible knowledge and critical thinking, consideration of opinions during the criticism period by others?
Suspended reasoning? Or verses misrepresenting?

chimex38:
religious members who:
-self evaluate from time to time
-Study and think independently outside the rules of their hierarchy
-or consider and compare views of others on their doctrines,
-aknowledge some errors and gray areas to see some flaws
-critic parts that are overdue to change.
- question rules and try to provide alternatives where possible etc.

Such members will most likely spot a doctrine and adjust even before their governing body or supreme head makes any pronouncement.

chimex38:
37 gainers 23 loosers
Airtel + other strong top 5 gainers list of almost 10%


Top Losses mere 6%-3% mostly from low cap stocks

Yet, ASI just barely gained 0.9%.

Reversal from yesterday.
Sideways movements ongoing.

The more you look, the less you see

megawealth01:
Neimeth Seeks NGX Approval for ₦4 per share Rights Issue as Shares Trade at ₦10.10

https://investogist.com/neimeth-seeks-ngx-approval-for-%E2%82%A64-per-share-rights-issue-as-shares-trade-at-%E2%82%A610-10/

Janosky:
Oga, for candid appraisal by everyone, pls quote the last 3 paragraphs of this publication you screenshoted.

The conclusion is very different from the edited portion you screenshot .
Why deceive yourself?

Look at the screenshot below,confirm the date ,15th October ,2000 this was a reminder from an older Watchtower publication ..
This update was first communicated in the late 1970/80s .

👇

Previous Premise:.1+1≠2 it's against God's word in the Bible and we as JW do not accept it.

Previous Conclusion: you are free to write any answer as 1+1 as you like.
(but we don't believe in 2)


New Premise:.1+1=2 it's not stated in the Bible that it's against God's word,
we as JW now accept 2 as an answer.

Conclusion: you are free to write any answer as 1+1 as you like (including 2).

Where 2= storing of one's blood and transfusing it back

Janosky:
What are you really saying ?
Na wa oo !!

When blood was first transfused , where there storage devices for it?
No.
At that time, we held on to Acts 15:28-29 abstinence....
Later, medical science improved & medical storage facilities came up,JW's adapted & 40 yrs ago, JWs said "it's a personal decision " how i want my blood to be handled in the course of my medical procedure (using modern medical facilities).
We adapted to the use of modern medical facilities,we no shift any policy ooo.

You guys are just typing whatever fits your assumptions without proper understanding of the matter.

Mankind2024:
When the Dangote Petroleum Refinery Became a Cornerstone
In my childhood, while studying the New Testament, I vividly remember Jesus referencing Psalm 118:22: “The stone the builders rejected has become the cornerstone.” This metaphor appears in several passages, including Matthew 21:42, Mark 12:10, Luke 20:17, Acts 4:11, and 1 Peter 2:7.
In 2025, I wrote a short piece titled “The Rich Also Cry,” reflecting on the tears shed by Africa’s richest man, Aliko Dangote, as he battled severe challenges in getting crude oil for his newly built refinery. The difficulties stemmed partly from legacy issues, including forward sales of Nigerian crude under previous administrations that limited immediate domestic supply. Undeterred, Dangote sourced crude from international markets, including the United States, and successfully ramped up operations.
The Dangote Petroleum Refinery in Lagos, with a capacity of 650,000 barrels per day, is the largest single-train refinery in the world. Yet, as it approached full production in 2025 and reached peak capacity in early 2026, entrenched interests in Nigeria’s oil sector—often referred to locally as “cabals”—resisted domestic refining. Many preferred the status quo of importing refined petroleum products, which had long generated significant profits for importers.
Dangote repeatedly urged the government to phase out fuel import licences, arguing that the refinery could not only meet Nigeria’s entire domestic demand but also produce surplus for export. Critics accused him of seeking a monopoly. Meanwhile, tensions escalated when labour unions, including the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG), the Trade Union Congress (TUC), and the Nigeria Labour Congress (NLC), clashed with the refinery over issues such as unionisation rights, working conditions, and distribution logistics. Dangote described some of these actions as sabotage. The Federal Government of Nigeria eventually intervened to mediate and restore stability.
No one could have fully anticipated the dramatic turn of events in the Middle East. Ongoing conflicts, including disruptions linked to tensions involving Iran in 2026, have damaged oil facilities, restricted shipping routes like the Strait of Hormuz, and caused sharp spikes in global crude prices and refined product shortages. Suddenly, the very marketers and importers who once shunned Nigerian-refined fuel from the Dangote Refinery found themselves competing with buyers from across Africa.
Indeed, the stone that the builders rejected has become the cornerstone.
Just as many initially rejected the message of Jesus, who became the cornerstone of Christian faith and salvation, the Dangote Refinery—once fiercely opposed and undermined—is now emerging as a vital national and regional asset. Vice President Kashim Shettima has described it as a strategic national asset that is helping transform Nigeria from a net importer into a potential net exporter of refined fuel.
As of early 2026, the refinery is operating at full capacity and has begun exporting significant volumes of petroleum products. In recent weeks alone, it shipped 12 cargoes totalling 456,000 tonnes of refined fuel to countries including Côte d’Ivoire, Cameroon, Tanzania, Ghana, and Togo. Additional African nations, such as South Africa, Ghana, and Kenya, have approached the refinery seeking long-term supply deals amid global supply uncertainties.
Today, the Dangote Refinery supplies not only Nigeria but also other African countries, enhancing regional energy security at a time of international volatility. It stands as a powerful symbol of resilience, vision, and the triumph of domestic industry over entrenched opposition.
The journey has not been easy, but the refinery’s rise illustrates a timeless truth: what is dismissed today may well become the foundation tomorrow.

chimex38:
43 gainers
only 23 losers.

High price stocks( over ₦100)
Only GT(8.18%) lost.

Yet ASI lost over 1%.(-2,000+ points)

Agbalowomeri:
The verdict is "you have done the needful, go and sin more freely"

Prosper307:
Like I said, to each his own.

Raider76:
http://youtube.com/post/UgkxWZBiicpvq5EAOqQRhGtzkrd-ml9Dfu-G?si=igFpKkAW2u64457h

deathwing:
Yes, if it doesn’t make sense in dollars, it doesn’t make sense at all. Naira is just the avatar for my dollars. I’m sha hoping for 1k by year end for MTN

deathwing:
Been buying everyday. Third weighting in my portfolio after Aradel and Presco. I’m good with 25% gains by year end, in dollar terms.

megawealth01:
Just imagine Alhaji no build refinery

KarlTom:
WAWU

LEGENDINT x SPECTRANET

https://doclib.ngxgroup.com/Financial_NewsDocs/46305_LEGEND_INTERNET_PLC-MERGER_OF_LEGEND_INTERNET_PLC_AND_SPECTRANET_LIMITED_CORPORATE_ACTIONS_MARCH_2026.pdf

GeeKudi:
Then, I bet it's not difficult to see who the rash arrogant clown is.

presiade:
Then no surprises. My comment still stands. Amelika entered one chance on January 20, 2025.

presiade:
I won’t, modify the post. It looks fake as hell, if it’s not fake, as it’s been verified not to be, then the post still alludes to the fakeness and incompetence of the author. Imagine if Tinubu or PEJ (Mama Peace) posted something like that!

ojesymsym:
To be fair to him, I think that is his style of passing his message across. That was what he did with mecure, which apparently turned many people off only for mecure to later be doing appreciation with a large returns, even though experts did not see the numbers to back up the appreciation.

KarlTom:
DANGSUGAR

To raise ₦500bn by RI

https://doclib.ngxgroup.com/Financial_NewsDocs/46292_DANGOTE_SUGAR_REFINERY_PLC-_NOTICES_OF_ANNUAL_GENERAL_MEETING_(AGM)_-__ANNUAL_GENERAL_MEETING_(AGM)_MARCH_2026.pdf

ositadima1:
Let me focus strictly on Dangote Sugar, because once you strip away market momentum, the numbers tell a much more constrained story.

Starting with operating performance. In Q3-2025, Dangote Sugar generated about ₦43bn in operating profit (EBIT), while finance costs were roughly ₦30bn in the same quarter. That immediately tells you something important: about 70% of operating earnings was absorbed by interest expense. So even before talking about growth or valuation, the business is operating under heavy financial pressure.

If you annualise Q3 operating performance conservatively, EBIT comes to roughly ₦170bn. Applying a normal Nigerian corporate tax rate of 30%, normalized after-tax operating profit (NOPAT) is approximately ₦119bn. That is the sustainable earning power of the operations before reinvestment and financing effects.

Now look at what those earnings are generated on. As of September 2025, total assets stood at about ₦1.02 trillion, with cash of roughly ₦80bn. Removing cash gives operating assets of approximately ₦936bn. When you divide normalized NOPAT by invested capital, you get an operating return:

₦119bn ÷ ₦936bn ≈ 12.7% ROIC

That number matters only when you compare it to the cost of capital.

To estimate the cost of capital, start with equity. Nigeria’s long-term risk-free rate is around 15%. Add an equity risk premium of about 10%, and apply a beta of roughly 1.1 for a leveraged consumer industrial business. That gives a cost of equity of:

15% + (1.1 × 10%) ≈ 26%

Now look at debt. Based on reported finance costs and outstanding borrowings, Dangote Sugar’s pre-tax cost of debt is roughly 18–20%. After the tax shield, that comes down to about 13%.

Given the company’s capital structure, roughly 70% debt and 30% equity in economic terms, the weighted average cost of capital works out to:

(30% × 26%) + (70% × 13%) ≈ 17% WACC

This comparison is critical. Dangote Sugar’s ROIC of ~12–13% is below its WACC of ~17%. That means, on a purely economic basis, the business is not currently creating value with growth. At best, it is treading water.

Growth also requires reinvestment. Even assuming a modest 4% long-term growth rate, and using the current ROIC level, the reinvestment requirement is:

Reinvestment rate ≈ g ÷ ROIC
≈ 4% ÷ 12.7% ≈ 31%

Applied to NOPAT, that means Dangote Sugar must reinvest roughly ₦37bn every year just to sustain low-single-digit growth. That reinvestment comes before any free cash is available to capital providers.

After reinvestment, free cash flow to the firm is approximately:

₦119bn − ₦37bn ≈ ₦82bn

That is enterprise-level cash flow, before debt service. And this is where the balance sheet becomes decisive.

Financial liabilities are still above ₦736bn, while cash is under ₦80bn, leaving net debt of roughly ₦650bn. With this level of leverage, a significant portion of enterprise cash flow is structurally redirected to lenders. The Q3 interest burden already demonstrates this reality in practice.

Cash flow confirms the picture. Despite reporting profits, operating cash flow remains weak and at times negative, meaning the business is still not self-funding. It continues to rely on refinancing, short-term borrowing, and working-capital movements rather than internally generated surplus cash.

This is why enterprise value on its own can be misleading here. Yes, EV captures the whole business, but when ROIC is below WACC and leverage is high, enterprise value does not automatically translate into equity value creation. The economics are constrained by financing, not optics.

On backward integration, the financial statements are very clear. Biological assets are about ₦18–19bn, which is less than 2% of total assets, and that figure has not grown meaningfully year-on-year. Inventories, at around ₦130bn, are still dominated by imported raw sugar and refined stock. Gross margins remain around 19–20%, which suggests that local sourcing has not yet reduced FX exposure or input costs in a material way.

If backward integration were already working at scale, we would expect to see ROIC rising, margins expanding, or operating cash flow improving. None of those shifts are visible yet in the numbers. For now, backward integration remains a long-term strategic promise, not a current economic driver.

So when Dangote Sugar is highlighted based on Q3 performance or enterprise value, I think the math needs to be acknowledged. The business is operating with ROIC below WACC, heavy reinvestment needs, and a leveraged balance sheet. Any upside case is therefore macro-dependent, on lower interest rates, FX stability, and time, rather than already embedded in the operating fundamentals.

That distinction is important if we’re being honest about what the numbers are actually saying.

Numbers first, narratives later.
-- ositadima1

Eldeedon:
Hahaha

He said jealous! Jealous of what please? So, because we are pointing out the areas where you guys are wrong in your doctrines means we are jealous abi?

Janosky:

Like I said before, on this forum.
It's the mainstream news media that labelled the practice that JW's have been doing since the late 1970s/80s down to this 2026 as "new policy shift".

That hundeyin guy was a toddler when the info was first published in our journals,you know not everybody reads JW's publications ,hence they wouldn't know what every JW's know about this matter.
The info is in our older publications (before the advent of the internet) that the matter is a personal decision (jw broadcast update #2 video) stated the same thing and referenced our Watchtower year 2000 October article as reminder to all JW's worldwide .
Not everyone could access the older Watchtower articles , but our TV broadcast is widely received everywhere.

Eldeedon:
Since when did you realize that the law is no longer binding on Christians??

This was the same message we preach every day that the law no longer binding today, and you guys have been calling us names for it! So, why is it now you realize the law no longer hold waters and you are free to use your own Bible conscious mind to decide if you would take it or not?

correctguy101:
Na una sabi.


I'm no JW but I don't want no blood transfusion....


I've done donation for a friend though... But unless I'm unconscious, I'll rather kick jerrycan and get this body cremated aka burnt to ash asap