₦airaland Forum

Omooloriredade:
Please be reminded that my post may be factually incorrect and misleading. No malicious intent please just sharing my opinion.

2022 FYE Report as reference:
Providus has a share capital of N18B translating to #36,036,786,000 ordinary shares of 50kobo each. Latest available financial result is the 2022FYE where the bank achieved EPS of 22k (23k in 2021FYE).

@bolded. Noted
It still offers insight.

Thanks for this selfless breakdown.🙏

KarlTom:
TOE is in the good books of BAT...

I get..looks as much

KarlTom:
I love how you see the bigger picture.
UNITY returning to profitability is solely dependent on sentiments not any earnings forecast. Where will they get the funds for operations to make any profit
Current shareholders can enjoy a brief period of profitability IF the suspension is lifted before the 'merger' news/details is officially announced...

Nothing is 100% certain at this moment

Even with the Merger They(Providus + Unity) still need to raise about ₦150bn to meet up with Capitalisation quota. (nairametrics)
Though not as much as others.

Streetinvestor2:
This one is making noise so that he can be added to the looting.He last week praised the 70% forex gain.He has direct access than many to balablu. He should help us as directly. He needs the oil well now.It is not easy for president to come to your house after winning election.That means you must have represented well

Though Mr. Elumelu was at the meeting, it was Mr. Otedola that openly supported the 70% tax windfall.
For him to be personally visited after Election, then he will surely get his hands on some of the next blocs of Oil Mining Lisence(OML) that will be on sale before the president's tenure ends ..

emmaodet:
There is an agreement between Nigeria and about 4 other west African countries for Nigeria to make the kanji dam and supply the others electricity else, these Africa countries will dredge their own dam for electricity thereby reducing the river/water current getting to kanji to roll the turbines.
Nigeria is the last country to the ocean, so it was agreed for her to make the dam rather than a country upland.

Yeah.. To avoid Dredging our waterways with reduced water power while in Cameroon's case their Dam is released and floods our waterways at peak of the rain season.
#opposite scenario

Olaide1295:
If only you people read Adam Smith. I will argue we need more people who want to make money and "Maximise profit" in Nigeria.
Dangote's desire to make money is a net positive for the country.
When an entrepreneur desires to make money for himself by producing goods or rendering services to meet the needs of others, the government and people benefit. The entrepreneur's only benefit is a paper net worth increase.
In sage peter Obi's voice , that is wealth with enterprise.

Hmmm..fixed

megawealth01:
How Buhari Blocked My Bid To Purchase Oil Field – Elumelu

https://www.vanguardngr.com/2024/08/how-buhari-blocked-my-bid-to-purchase-oil-field-elumelu/

Everybody don dey unravel.

Streetinvestor2:
Let him hate nigeria as long as his investments are in nigeria. The ones that love nigeria have investments in Malta,dubai and other countries. His investments are putting food on tables for many Nigerians directly and indirectly. I have not seen his employees complain of not being paid well or being owed. iF I may ask how many Nigerians do you employ in your own capacity

@Bolded
Fixed

Even some IOC workers dey go strike.. I never hear DIL workers strike

GeeKudi:
When he said there was no refinery or that the refinery will never work, he said he has evidence. When he said Dangote was only importing produtcts to sell at the site as being from his fictitious refinery, he said he has evidence. It is that same person who never belived in a refinery that would now be aproached to write against the refinery?

He is a good writer, no doubt. But that is all about him. He writes fictions but because his fictions feast on Nigeria's political divides, he is bound to have followers regardless of how obviously false his stories are. Dangote is his next target to extort money from in the name of fighting for his refinery.

Lol.. Another angle.
Yeah, your assumed aim may be plausible. Afterall he is a Freelance writer,
But what transpired may not be a total write off.. He put out names out there..
Though might want to ride on opportunity..

GeeKudi:
But this same guy said there was no refinery being built and that it would never work. When there was news that the refinery had started supplying diesel to the Nigerian market, the same David said Dangote was only deceptively importing diesel and selling in Nigeria.

He is the last person you want to listen to when it comes to that refinery and I don't understand this attempt at romancing Dangote.

Yes. You may be right..
Even in his writeup, he is not still a fan..(Monopololistic tendencies, according to him)
But he doesn't seem to be a hater of the Refinery functioning to improve Africa n Nigerias Economy at large, if it is indeed true(I'm sure he shld have found out by now)

He thinks some NGOs wants to take advantage of this bias to use him to tarnish the Refinery the more given his anticededents on Dangote..

But I get your point.

Choiceguy:
But dangote denied the news of selling imported crude.let keep our fingers cross,he promised mid of Aug. Let's wait and see how it plays out.

I mean Dangote Refinery sold some of the refined products to foreign markets in Africa n Europe(Jet fuel/ Kerosene) not the Raw Crude itself..
Like you said lets wait and see

Olaide1295:
Do you know what credit rating is? A contract between two parts of a single business has nothing to do with Nigeria’s credit rating. Whatever contract you enter into while operating in Nigeria, which violates our law is your business.
The law supersedes contracts, they should hang their lawyers.

Maybe I used the wrong term, but it still boils down to trust..
It's not just between 2 parties: Afriexim Vs Nigeria...naaa
It's between 50 African Countries Vs Nigeria..


PIA is supposed to be regulated by NUPRC-NNPCL and their regulatory arm to ensure implementation in Nigeria.

Unfortunately, it's same NNPC(unbehalf of Nigeria) that entered into this International contract to help improve Forex and salvage our Naira then..

Choiceguy:
I thought dangote have already imported crude from US and Brasil. I expected him to start sell from those referined crude pending supply from NNPC

He has also exported some if not of the refined crude to ready markets in Europe.
He has also been selling diesel and other distilled products in Nigeria.
Na the almighty Fuel remain
The raw crude never finish so?..

That refinery needs a guaranteed Long-term crude agreement n supply, no be to dey go market every four market days dey fain crude.

Still on the matter
Foreign Conspiracy against Dangote Refinery-David Hundeyin
Hmmm....
https://x.com/DavidHundeyin/status/1822059280973091320?s=19

Olaide1295:
Sanctity of contract shouldn’t supersede a law.
If you enter into a contract that violates law of a country, then that’s your own wahala.

Afriexim Bank.
A bank made up of over 50 African Countries as well as Top African private companies, etc .
You don't want to joke with your Credit rating on the International scene..
The ripper effect in the near n distant term is more..
As @Mankind rightly put, probably only a Force Majeure(Covid 19, a Great National Disaster, Govt takeover, coup, or other Crisis)
can break such contract.

Mpeace:
If dang refinery knows whats good for them, they better forget Nigerian crude and market, buy abroad and sell his products abroad. Nogeria is not a serious country. Its still in the hands of evil men.

The Irony is that some of the IOCs he will meet internationally for crude are probably the same ones in our backyard.. They may have storage tanks and other proxy subsidiaries overseas as the trading arm of the same crude they explored From Nigeria..

In that sense, they sell these crude that left the shores of this country back to him at a premium of between-->$2-$4 plus other transport cost and logistics .
eee get as ee be.

On Buying Abroad and Selling Abroad only.
ee also get as ee be.

Dangote is trying not just to be a Businessman but a BusinessNigerian.

KarlTom:
...

NUPRC Vs Dangote Rift
One Week.. One Trouble

The 'sanctity of contract' principle means that legally binding contracts must be honored and upheld by all parties involved, ensuring the integrity and enforceability of agreed-upon terms and obligations.

In normal language you would also say "contract sacredness" instead of "sanctity of contract"
Source:https://www.legalbriefai.com/legal-terms/sanctity-of-contract.

Obvious our Crude Oil had been contracted out.. Especially from the Afriexim bank $3bn loan.

Implication of The Released Statement:

We may not have PMS (Petrol) supply in August from Dangote Refinery (My Opinion

nosa2:
That's how out grower schemes work

Oh..ok.. thanks for the enlightenment.

ojeysky:
Major empowerment and he even said the farmers can sell to others if Dangote offer does not work for them. I wonder how that will work in practice though

Exactly, Azzin in.. I wonder
How sustainable?
Maybe sold at a discount at least or part of his Cooperate Social Responsibility.
Anyway, it's Dangote.
Who am I?

vacanci:
To the Dangote faithfuls.

here is all you need to hear from the horses mouth. Everything about his companies and the vision ahead.

he mentioned and talked about his Rice business at several intervals here. You need to watch to the end.

This man is just a genius


https://www.youtube.com/watch?v=qCvwVqaaKfQ?si=YzHdP36uYWNAm9ja

Thank you for this video..
Didn't know it was this detailed to an extent.

On Rice(@34.00mins)
OMO!
Give you seeds, insecticides, fertilizer, hectares of Lands,etc for free for you to just grow it and still buy the Rice back from you @ harvest? Not take back BUY back!!

Dangote Industries na Country inside Country, kalakuta Republic dey learn work.

Well, I have posted it b4.

As far as 2024 is concerned,
@ aj8 is the Agba🙌 of Veritaskapal this year. precisely on Jan30, 2024 when RED was everywhere.
#MrCommonSense

aj8:
Common sense target for Veritas Kapital Assurance is N1.20. Good buy at current price of 0.55.

0.31 x 4 =1.24

Target Range N1.24-N1.55

Better still if they pay a dividend of 5-7 k in which case could target upper range.


Please do your DD.

Even with RED across board, EPS is King. Stocks hardly fall below EPS x 4. That’s the beauty of the strategy. Any one significantly below that is a BUY. Just Common Sense.

KarlTom:
MTN doing what they should have done several years back...

https://doclib.ngxgroup.com/Financial_NewsDocs/42001_MTN_NIGERIA_COMMUNICATIONS_PLC-MTN_NIGERIA_RENEGOTIATES_TOWER_LEASE_AGREEMENTS_CORPORATE_ACTIONS_AUGUST_2024.pdf

Expanded Article from IHS website. Highlight:
1)Currency Exchange Rebalancing
2)Cost of Diesel-Hedging against price n Fx fluctuations


https://www.ihstowers.com/support-and-info/media/press-releases/2024/ihs-towers-announce-renewals-and-extensions-on-all-mtn-nigeria-t

KarlTom:
MTN doing what they should have done several years back...

https://doclib.ngxgroup.com/Financial_NewsDocs/42001_MTN_NIGERIA_COMMUNICATIONS_PLC-MTN_NIGERIA_RENEGOTIATES_TOWER_LEASE_AGREEMENTS_CORPORATE_ACTIONS_AUGUST_2024.pdf

Fixed..like seriously. about time..

I learnt MTN southAfrica are even part owners of IHS.

Refinery Debt Servicing:
Be like na Cement Export be Dangote sure banker
https://businesspost.ng/economy/dangote-cement-exports-14-clinker-shipments-to-ghana-cameroon/

Agbalowomeri:
Too expensive

This Senior Man😁😁

Agbalowomeri:
The N6.8 is for 2022 year end jare. No mind Pa Emma

Oh ok.. seems so.
You're right

Both of you may be right
2+6.8==₦8.8==>Interim (2023)
24.3==₦24.3==>Final
(paid in 2024)

Agbalowomeri:
He should have picked one battle first. To do both subsidy removal and currency float at the same price was ill-advised. Now each time the currency slips means higher price for PMS. Subsidy eventually came back.

If the government had removed subsidy but kept Nigeria stable until we become self-sufficient for PMS, the policy would have worked.

Hmmm.. Kind of Agree.
One at a time is better..
Reduces this economy volatility we are in now with so many negative moving parts.

Streetinvestor2:
On a serious note what will it cost the government to provide food or snacks to show solidarity. How much is he planning to use in building back the unwarranted knocked down legislative chamber. Do you know the quantity of food 500million can prepare even at this time given directly to the right person

Anything to reduce violence and destruction and ensure peaceful demonstration is a goal..
But on the other hand spending for protest from political leaders is a two edged sword.. It really depends on the leader involved.

As for Rivers, there are already Strong major divisions across personal n political lines aside hunger, he shouldn't and can't even try it.

Streetinvestor2:
It is unfortunate what is happening. It is avoidable by just the government leader to just pretend to talk to the youths directly even if he doesn't mean it.The show of force can not stop it.The whole population of nigeria army/police is not up to 2million I know.In as much as I wanted peaceful protest but inside us we know it is not possible because a hungry man can not act peaceful in the mix of plenty plus the large number of uneducated neighbours up north. Then wike is being irrational. He doesn't understand the mix of people living in Abuja.All Nigerians are represented in that city.
What will it cost the president to talk to Nigerians directly at this time and make promises. And initiate some cushioning polices immediately. Do you know the government could have turned this protest to a big carnival all over the country instead of spending billions in trying to surpress the voices of the governed

If I was wike I will set different venues/stages in abj.Invite artist,provide food/drinks,stand by ambulance. Then announce earlier before the protest started to protesters that I will be joining them to collect thr demand and forward to the president. If possible declare work free days during the duration. Make the whole thing a big carnival....my opinion

Lol.. 😁🤣
Still nice and plausible though.

Fubara promised those in PH pure water as show of support, they almost descended on him..

The Gov jejely Waka kommot

Heishere:
Has Tinubu signed this bill?

In the first place, the bill was adjusted at the legislative cuz the executive wanted it..
So... officially not yet signed.
But technically yes signed.