₦airaland Forum

Resetinc:
DSTV is useless, even BeinSports and Canal sports have more global sports coverage than dstv, imagine the CAF award ceremony was not shown on any dstv channels…
So people just subscribe N28,500 a month to watch useless crime & cheaters documentaries and outdated judge Judy program??
Anyway I don’t blame them, na NTA that claim to be largest TV network in Africa but it’s citizens are paying a foreign company to watch their own football leagues..
If NTA know what they are doing by now dstv should have been sent back to soweto where they come from … … Nonsense!!

Did DSTV point a gun at your head to buy their decoders and satellites dish or to keep subscribing it?

post=127801060:
Shame on DSTV...

On top all the more expensive fees they collect from darling Nigerians 😜

rather shame on you, sending billions of dollars to South Africa, France and American to watch DSTV and even borrowed the dollars to do so.

Kingray10:
Nice, DStv yanga too much.

Startimes will yanga billion of dollars from 200million Nigerians to China.

deenee:
First, the EFFC search light isn't on Dangote alone but on about 55 other companies that had access to FX from CBN.

I can bet you that nothing will happen because all transactions were done by the book.

The man entered into a forward contract to buy FX from the CBN at official rate to import machinery,equipment and pay for technical and advisory services and expatriates wages building his refinery.

For the morons that are happy that he isn't the richest man in Africa again, let me explain what a forward contract is.

"A forward contract is a customized contract between two parties to buy or sell an asset at a specified price on a future date. A forward contract can be used for hedging or speculation, although its non-standardized nature makes it particularly apt for hedging"

CBN based on FX availability supplied him at different intervals and published the allocations in several national dailies for the world to see at the request and instance of Dangote.

At some point and due to Covid 19 restrictions which obviously affected dollar inflows, CBN had to resort to accessing USD from Afrexim Bank to meet this committed obligations and to mitigate the impact of USD scarcity and devaluation from their side. That amount is 1 billion USD, out of which 750m was transferred for the payment of technical and advisory services and also payment to the expats working on site to build the refinery.

The same way Nigeria has access to funds from Afrexim to settle most of the forward options that have matured with CBN late last year.

BUA,Oando, Nest Oil , Nestle, Olam,TGI,Tolaram etc all have these arrangements with CBN and they are have been asked to present their documents for review.

This kind of sensational journalism is what kills the country and y'all expect foreign investors to invest? Keep playing

For those shouting. FX allocation before the unification of rates was based on priority and as such CBN would only allocate to critical sectors investing in the creation of jobs in manufacturing, oil and gas,agriculture etc. Therefore your request for PTA or BTA or even payment of foreign schools which has no economic impact on the country would not be given top priority. And this is the reason most allocations for the latter are usually not met in a timely manner. I hope y'all understand now?

The same still applies till today.

By the way Dangote Refinery has received 4 million barrels of crude from NNPCL. Remaining 2 million barrels to kick start the refinery and he will be back at number one.

The drop in Forbes rankings happened to everybody from Dangote, BUA, Adenuga and Otedola.

They made more money in naira but devaluation affected them. Infact Dangote increased his wealth by 3.5 trillion naira in 2023 for those that don't know.

God bless Dangote
God bless Nigeria

God open the eyes of understanding and increase the intellectual capacity of the morons here so they can understand

This is the kind of comments we want on Nairaland and not some people with almost zero economic knowledge jumping up and down commenting based on tribalism rather basic economic knowledge.

sparko1:
I think you are missing the point, granted if the country has enough forex, companies like his should get waivers but when we borrow, that kind of forex shouldn't be sold to anyone, whether they bring forex in or not.

do you remembered that in 2023, CBN borrowed some billions of dollars to fill backlogs of foreign companies to repatriate back to the home countries. The recent borrowings by NNPCL from Afreximbank will also be used for importations and foreign repatriation.

TollinsN:
If I should agree with you it means government Will never know the daily quantity of crude oil that is being extruded. Three with be no account for it.
Please I just want you to understand that there is always synergy between NNPC and all owners of oil rigs accross the country. They only keep their eyes away during illegal bunkering of stolen crude

I still disagree with because NNPCL owns stakes in every oil production companies in Nigeria and keep all oil production activities.
Secondly, crude oil are stolen from abandoned oil production facilities and not functional facilities operated by E&P companies.

Primusinterpares:
Selling at 3500 means spoiling business for other monopolistic business owners.

Especially in Nigeria where we don't have price regulations

N3,500 is the factory price while retail price is N5,500 for BUA cement and with price regulation on petrol, a litre is N700.

seguno2:
Is this the change promised by Buhari and APC in 2015?

How much is the equivalent of Jonathan and PDP’s N18,000 minimum wage in today’s choking economy

first, ask yourself why you accepted APC communist lies in 2015.

TollinsN:
Please fact check. Non of those you mentioned have been quoted as recognised. There are so many unapproved modular refineries across the Nation. We know they existed but many of them relied on stolen crude oil. NNPC never claimed to have supplied any modular refinery crude oil except the ones that started operations in December

I disagree because of the following reasons
1. No law in Nigeria made NNPCL the sole supplier of crude to oil refineries, they get their crude from private E&P companies that operate the oilfields.
2. The above mentioned modular refineries are all approved by the federal and state government agencies, e.g the two Edo modular refineries were initiated by Edo state government while president commissioned Waltersmith petroman modular refinery in Imo state.

sparko1:
Actually, the crime was Emefiele's, it's not a crime to buy forex.

It should be a crime to borrow dollars and then sell at official rate to one business while every other business buy at the black market.

Don't also forget that multinational firms like Dangote Group bring billions of dollars into Nigeria and expecting him to buy forex that he owns looks stupid.

Bigchristo:
Dangote has been using Nigeria money to finance his businesses since day one, the one that amazed me most is how CBN borrowed him money to the tune of 120 billion to build refinery but they keep telling Nigerians that there’s no money, truth be told Emefiele isn’t the only person responsible for whatsoever crime he is being tried for, dem plenty by the time him sing lots of prominent and powerful politicians in this country will be indicted not only Dangote

So,in your mind CBN borrowed money gave Dangote freely?

Fiscus105:
I'm seeing Dangote going out from 1st -5th Africa richest.

The same way India richest man, gone out of 1st-10th richest.

Continue to dream while EFCC entertain you with half-bake news.

aminulive:
https://politicsnigeria.com/efcc-raid-has-emefiele-thrown-dangote-under-the-bus/

So, what is actually the case here if I may ask?

seguno2:
Will we see N87 petrol this month too, since that was the price before we allowed APC change to happen in us

A litre of petrol that cost averagely N468 to refined will not sell at N87 but N550 and above.

TollinsN:
Hope they can do it. DANGOTE'S monopoly will be broken. Thanks for the SAUDI'S deal with Nigeria. ARAMCO one of the best refinery company in the world is coming to Nigeria. Signed and sealed by heads of both government.
Two modular refinery in Ondo have started operations in December. And Portharcourt Refinery coming on board as well
NO MORE MONOPOLY. BUT HMMNNNN!!!!. HOPE THEY DON'T END UP FORMING A CARTEL.

What do you even understand by the word "monopoly" because last time I checked, two Edo modular refineries started operations in 2020, Waltersmith in 2021, Aradel as far back 2010.

PARADIZEPRIEST:
CHINA IS NAIJA LARGEST TRADE PARNER.THE FEDERAL GOVT STOPS PAYING CHINA IN DOLLARS AND USE YAUN TO PAY THEM, AND DOLLAR TO NAIRA WILL CRASH YAKATA TO N400/$.
I PITY THOSE OF YOU HOARDING DOLLARS.

where will Nigeria gets the yuans to buy Chinese products from?

Menclothing:
We need a serious company that will compete with multi choice In Nigeria

A serious foreign company that will compete with Multichoice with forex repatriation to their home countries, revalue their domestic currency while devaluing the Nigerian naira and Nigerians runs to there to look for greener pastures.

Juniorangel:
$5.8B as of 2023

Source please and is any of his company qouted?

Artscollection:
Our forex liability is over 7 Billiton usd meaning that the loan no fit achieve anything.

Wahala dey ooooo

An average Nigerian on the streets is still waiting for FDI to add more bundle to the liabilities of $7billion. Nigerian economy needs emergency diversification from oil and gas into other productive sectors such as the technology industry (the backbone of the 21st century economy). Remember that NLNG has also been securitized.

treesun:
https://www.thecable.ng/developing-efcc-operatives-conduct-search-at-dangote-head-office-over-fx-transactions/amp

President Tinubu displaying some political stunts to entertain his gullible followers.

Tymk:
Obi cubana no dey?

What is his networth?

festacman:
What of our mineral resources that are harnessed illegally by 'Chinese criminals' under the FG nose with the stolen money taken out of the country?

What of money spent by FG on estacode, hotel accomodations, etc gor large government delegation to mere international talkshops?

What of money spent by the NASS members to import vehicles for their official use?

Reno Omokri, you a fat head seeking attention. Instead of killing all betting platforms, why not suggest to Pres. Tinubu to force the foreign bookies to open physical offices in Nigeria, employ our people and pay taxes like their Nigerian counterparts or block them.

What about the billions of dollars flowing out of Nigeria through FDI?

Amb1045:
A woman have sêx because she wants the man.

A man have sêx because he wants sêx.

You see the difference?

Sêx is a physical thing to a man.

But for a woman, sêx is both physical and emøtional.

A woman can have sēx because of love. But a man can have sêx because of sêx.

Before a woman can have sêx with you, she must have feēlings for you. She must have that emøtionally attachment to you, Not talking about those trāding their for møney in the name of Hoøk up, Stop it. Heaven is watching ❤️🙏

That EROS dimension of love will be there.

Hārdly will you find a woman having sêx with a man she does not love. Except if she's a prøstitute.

But for a man, reverse can be the case. A man may have no iota of love for you, and still have sêx with you.

This is why a man can hire a prøstitute just to have sêx. He doesn't need to love the prøstitute before he fulfills his sèxual desire.

Now, understand this:

As a woman, a man can use you to feed his sexūal desires. He can even give you money. He can take you out. All because he wants sêx, not you!

If you want to know if a man truly loves you, don't give him sêx. Sit back and watch.

If he leaves you because you don't give him sêx, then he doesn't love you. He only loves sêx!

Dear young adult girl!

As you're growing up and getting closer to the journey of marriage life..pls try to understand that you can choose a husband for yourself but your kids can't choose their own father,while choosing a father for them pls choose a father,a friend,a tutor,a prophet,and a guidance for them...

And don't forget to be good mother you can raise a hero and not a zero
Wedding ring is the smallest handcuff ever made, so think deep, choose your prisøn mate carefully and sentence yourself wisely, to avoid prisøn break.💔💔😭😭💔💔

May true love locate all the singles for marriage in Jesus name Amen🙏🙏

Compare and paste from a Facebook page

LikeAking:
All those Dangote knelling down for Tinubu during the inauguration na waste..

Woto woto!

It is even more wasteful to realize that Tinubu is trying to impress his followers by EFCC officials visiting Dangote's Group office to read document.

SpatialKing:
Like said Coal is here to stay....
Nigeria should explore coal

Coal power plants are shutting down across the world.

SpatialKing:
Coal is never useless

Even SA, China, USA etc still uses coal to generate electricity

Before you post always get your facts right

Coal power plants are shutting down in SA, China and USA, they are being replaced with green and renewable energy.

SoNature:
Imo State is silently and gradually repositioning itself to become the energy hub of the country.

Green energy is the future not fossils

postbox:
SOURCE:https://brandspurng.com/2024/01/02/nigeria-aims-to-raise-oil-condensates-output-to-2-6-mln-bpd-by-2026/

Nigerian economy being an oil dependent economy is a disaster, Nigeria waiting for ExxonMobil and Total Energies to invest in it's oil is disastrous, increasing oil production when oil consumption is going down is also disastrous and producing incentive to E&P companies for lower oil prices which equates lower forex earning is very disastrous.

Ken4Christ:
Not good enough. The price should come down. They should make all our refineries work and stop importing refined products. The price should drop if they do that.

The price will slightly reduce, the impact of functional refineries won't be much.

adesegun121:
No Increase in PMS Prices, NNPC Ltd. Assures Nigerians

Believe these lies at your risk, petrol will be N1,500 per litre without subsidy.

nnamdi640:
You should be ashamed of yourself, a tribe that fought war with Nigeria and lost almost everything they have to Nigerian, if your tribe went through that situation, they wouldn't have gotten to the level the people you are talking about are presently. Just give them time and see for yourself. Beside, Dangote is where he is now as a result of the favor he got from Nigeria government, same thing with Abdulsamad Rabiu the chairman of Bua cement. Ibeto cement was competing with them, immediately they discovered that it was owned by an Igbo man, they killed it. Dangote made his money when Abacha made him the only man that was to import rice into the country. Again hope you know that Dangote refinery is built on the loan Dangote got from 4 banks with the help of Federal government, no other person in Nigeria has access to such loan and here you are praising him as if without fg he can get to that level.
The question you would have asked yourself is that why is it that the two popular cement companies are owned by northerners, your sense should tell you that something is wrong somewhere, does it mean that the other tribes don't know how to handle cement companies. Nigeria settings is meant to favor the north more that others in all aspects including in politics, that is why you can't win election without their support. This must change

I could remembered that the federal government initiated a program where cement importers were to import tax-free, make profits and used the profits to build cement factories. Dangote, Larfarge Africa, BUA built and acquired cement factories while Ibeto continued with importing cement tax-free making cheaper than others which the government stepped in and stop. When late president Yardua licensed him back, he continue his importation with taxes he is still importing.

NGArmyTerrorist:
Maybe na when he don steal from us again without looking back.

This one thinks that networth is money in bank account.