₦airaland Forum

“A minimum wage of ₦500,000 is not too much for Nigerian workers. Police officers, soldiers, teachers, doctors, nurses, and other public servants deserve a living wage and those in critical sectors must earn additional allowances for the risks, sacrifices, and essential services they provide.”

- Omoyele Sowore

awesomeJ:
I tell you sir.

The benefits of a big portfolio is mostly psychological. Comfort from luxury items is real 😁😁

And market is just doing press up oo. July /August/September might even be much better. My only fear would be people taking profit enmass to position for the Dangote IPO.

The West African Giant

West African Giant

SmartPolician:
When you measure their assets in naira, it looks big. But when you do that in USD, it's not really much - thanks to Tinubu and his yeye supporters

The dollar value was also written in the report: $147 Billion

Ding

Okomu

Airtel Africa rises from the dead.

deathwing:
I think Seplat had more than a month of downtime on one of their pipelines o something, so the oil price increase (as well as their strengthening gas business) kind of cushioned and prevented what would have been a loss.

Not just Seplat but even the Renaissance group because the line that was affected was the Forcados (a major pipeline). However, it has been functional since April and we would definitely see a massive rise in Revenue for Seplat and Aradel in Q2 2026.

ChatGPT analysing Dangote refinery prospects in 2027

If Dangote Refinery eventually lists on the stock exchange and achieves:

* ~$3–5 billion annual profit after tax,

it could instantly become:

* one of Africa’s largest listed companies by earnings.

For perspective:

* that would rival or exceed many major African banks,
* telecom firms,
* and industrial conglomerates.

The refinery makes money because:

* petrol,
* diesel,
* jet fuel,
* LPG,
* polypropylene,
* and other products

combined are usually worth more than the crude oil barrel used to produce them.

Then add:

* logistics,
* storage,
* trading gains,
* export arbitrage.

ojeysky:
You bought presco at 50? And I can assume you packed 6 figure unit. This man portfolio go don reach 10 zeros already. I Stan!

The name is megawealth. First of his name 😊.

Peterlove11:
What of FirstBank, Ecobank, and Wema.......and what's the implication

The implication is that investors especially foreign investors would be certain these Banks are more stable and would likely invest in them more. Also, they can raise credit facilities more easily from both local and international sources.

These Banks were upgraded because Nigeria was upgraded to B as well.

Access bank, Stanbic, Gtbank, Zenith and UBA got a re-rating from B- to B.

Airtel Africa’s revenue in 2025

• Nigeria 🇳🇬 - $1.0b

• East Africa (Kenya, Malawi, Rwanda,Tanzania, Uganda, Zambia) - $1.8b

• Francophone Africa (DRC, Chad, Gabon, Madagascar, Niger, Republic of Congo, Seychelles) - $1.3b

Nigeria is a continental region in her own right.

mikeapollo:
Institutional investors e.g. pension fund custodians, cooperatives etc can virtually take up everything especially niow that PENCOM has given them a waiver to allow them invest as much as posdible in the IPO.
It could even be oversubscribed.
Only that the devaluation of the naira will now give advantage to foreign investors over Nigerians

You are right. But on the bright side, this also opens up the stock market to foreign retail investors who would now buy more naira in their numbers because they know they would collect dividends in dollars afterall.

Errdrop:
This was 2013.... Saying GT, Nestle, Nigeria brewery are expensive.
Let compare the expensiveness to today.... Omoh. Over 10 years later

Interesting. They were also anticipating a possible market cap increase from 6.9 trillion to 8.8 trillion naira on the first page at the time (2012). 🥰

Now we are talking 160 trillion naira (over x 20).

It just seems like ages ago.

An interesting article on what retail investors should consider before investing in the IPO

https://africaoilgasreport.com/2026/05/refining-gap/inside-the-dangote-refinery-what-the-public-should-know-before-the-ipo/

mikeapollo:
This thing Alhaji is doing with the refinery IPO may affect Nigerians negatively. He is listing just about 10 percent and is opening the floodgates to everybody?. Nigerians are his number one customers and investors Who is Alhaji trying to impress? How many companies in other countries have done this for Nigerians? If he wants to open it up, then he should offer 30 percent or more to the public so that Nigerians can have more

You think Nigerian retail investors alone can take up the $5 Billion (currently almost 7 trillion naira) in a short time?

Platforms are opening for Ghanaians and Kenyans to take part in the IPO as well. This is a good one. This could mean instead of cross listing across Africa (which would be difficult), the African countries would likely be able to access the shares easily on the NGX via their local platforms and buy it in naira but receive dividends in dollars. All they may have to do is open a USD wallet on the app.

https://mystocks.africa/dangote-ipo/ghana

Also for Kenyans:

https://mystocks.africa/dangote-ipo/kenya

Ding

BUA Cement dividend 👌

NGX market cap growth trajectory since 2021:

Year
NGX Market Cap (Naira)
Approx. Avg Official FX Rate
NGX Market Cap (USD)

2021
₦22.3 trillion
₦411 / $1
$54.26 billion

2022
₦27.9 trillion
₦428 / $1
$65.19 billion

2023
₦40.9 trillion
₦636 / $1
$64.31 billion

2024
₦62.8 trillion
₦1,420 / $1
$44.23 billion

2025
₦99.4 trillion
₦1,530 / $1
$64.97 billion

2026 (YTD)
₦159.7 trillion
₦1,370 / $1
$116.57 billion

zendi:
So which bank was left out?

Dangote is a genius at using other people's money.

All Nigerian banks worked under his coordination to build the refinery.

The mastery of the money king;

His only job is to conceive a project and all banks will beg to provide the money.

He offered his cement equity as collateral. Then he was worth $25 Billion (around 2014) majorly due to his cement empire.

Dangote said:

“The Banks that have helped us to get to where we are, they would continue to be with us (to benefit from our growth) because we are not fair weather friends”

Banks that have supported the refinery are:

1. African Export-Import Bank
* Largest known financier overall.
* Has committed and underwritten multiple facilities tied to the refinery, including:
* US$2.5 billion underwriting in a US$4 billion syndicated refinancing (2026)
* Earlier US$1.35 billion financing facility (2025).

2. Access Bank
* Co–Mandated Lead Arranger in the major US$4 billion refinancing syndication with Afreximbank.
* One of the biggest Nigerian banking participants.

3. First Bank of Nigeria
* One of the key early Nigerian lenders to the refinery project through consortium financing.
* Participated heavily in local-currency and syndicated facilities tied to construction phases.

4. United Bank for Africa
* Major Nigerian lender involved in syndicated project financing and working-capital support.

5. Zenith Bank
* One of the leading domestic banks financing the refinery during development and commissioning stages.

6. Guaranty Trust Bank
* Participated through Nigerian banking syndicates backing the project.

7. Stanbic IBTC Bank
* Involved in debt-market and structured financing support around Dangote entities.

8. Standard Chartered
* International banking participant in parts of the refinery financing structure and trade-finance support.

9. Deutsche Bank
* Reportedly participated in international financing/trade arrangements connected to the refinery.

10. Islamic Development Bank
* Provided support linked to industrial and energy infrastructure financing.

Otedola to invest $100 million in Dangote refinery

😀😀

2004 because of Henry, Kanu, Bergkamp and the professor.

Odunharry:
Congrats to you and other Arsenal supporters on the thread

Thanks

Streetinvestor2:
Really..how old whr you than to be saying this rubbish. Food was the least of low and middle families in nigeria. Infact your neighbours could easily provide for thr children and children around .We go to church then because free food dey always dey from different families

When was this?

Take 1993 for instance compared to 1983. The naira had moved from 1/$ to 21/$. Inflation was 54%. Or was it 1999/2000 or 2003 or even 2006 with the Africa China song? Or in 1974, 1980?

Maybe from 2007 things got better to an extent up until 2015 but hardship has been a common complaint in Nigeria for as long as I know.

awesomeJ:
It's already happening 🎉🎉🎉🎉

We will party tonight.

Aye

awesomeJ:
You're right.

I didn't participate in the 08 crash.
I was still battling Laplace and Fourier in college. Too bad they ended up not being relevant in real life 😁

But stilk, the best use of something like money is really to make impact.

Cos how much food can one eat, you can't drive two cars at once etc.

So even if it's 1%.

But obviously you're more experienced than I am, so I believe you know this already. You're either practicing it already or you have a great reason why you aren't.

Let me go see if our 22 year wait for a trophy will finally end tonight.

I’m hoping we get the trophy this time. I’ve been waiting since our unbeatable performance in 2004.

ositadima1:
But are you counting Dangote’s achievement as this government’s achievement? Fuel stability is because we now have a refinery, which the government tried to squash and failed. It’s the same way some people attribute GSM to Obasanjo, when GSM was new and already making its way into almost every country at the time.

Were you not here when several government agencies were tackling the Dangote refinery? The fight with NNPC, the fake claims that government refineries had reopened, the fake claims about low-quality petrol, and then you come here attributing fuel availability to this government.

I think you all deserve whatever you get, good or bad.

NNPC refineries opening was no fake claim. They did open and they worked but were not profitable. This means you are not getting profit from the sales after putting in crude oil. This current management of NNPCL was more concerned about the books (rather than patiently waiting for it to increase capacity) and felt NNPC shouldn’t continue to make losses on it by supplying it crude and realising no profit when same crude could either be exported or given to Dangote.
As for NMPDRA chairman who fought Dangote, he has eventually been sacked because of Dangote. Mele Kyari also sacked. The VP called a Dangote a national treasure when PENGASSAN was attacking him. What else do you guys want this Government to do for Dangote for you to believe they are not against Dangote?

awesomeJ:
By the way, the talk of devaluation is now STALE!!!
IT was only an issue in 2024!
Now it's no longer a valid issue to raise, as we can see from company's results.

Here's how the currency moved in the parallel market from COVID to 2023.

2020: 360
2021: 450 (usd gained 25%)
2022: 600 (usd gained 33%)
2023: 750 (usd gained 25%)


So using the same 25% expected annual loss rate.

Dollar in 2024 should have been: 937.5
2025: 1171
2026: 1464

So as of now, the currency is stronger than it would have been if the old terrible policy had been kept, and it's much more accessible too.


For fuel subsidies.

Electricity subsidies as currently enjoyed by low income people is more important than any unnecessary fuel subsidies


It makes no sense for anyone to buy fleet of V6 and V8 vehicles and expect to buy fuel at #200.

The average joe doesn't even drive an I4.

so their exposure to fuel prices is mostly often overstated.

On most routes, transport costs have only increased by 3x over the past 3 years, even though pms prices are now 7x costlier.

The V8 guys are definitely paying the full 7x, but the exposure on the masses isn't more than 3x.

Thank you. People continue to assume that if we continued with Emiefele’s policies, the FX rate would have remained at 750. They forget that inspite of the interventions by Emiefele ($17 Billion in 2022 for instance), the parallel market continued its run away reaction because something was broken since COVID (2020).

What would more likely have happened if Emiefele continued or we continued his policies is that the parallel market would still have gotten to 1200 but Emiefele would peg the official rate at 500 or leave it at a crawling peg around the 600 level thereby doubling the gap between official and parallel rates. That would have not only been a worse problem for the economy but increased the backlog to over $10 Billion.

In addition, we would have kept subsidy and NNPC would continue to bleed and not remit for the most part as was the case in 2022.
To also have a reasonable budget and maintain the whole shenanigan, we would have increased our printing. Printing was also increasing every year from 2020 - 2023.

I just can’t imagine. It’s crazy.

As they say, Economics do not give you answers. It gives you trade offs. Choose your poison.

mikeapollo:
As far as I know, for the first time in the recent history of this country, hard working labourers, petty traders, peasant farmers, civil servant, workers, self-employed youth, artisans etc. matched and demonstrated shouting ''ebi n pawa'' meaning we are dying of hunger, due to the harsh economic policies of the govt without any safety nets to cushion the citizens.!
That should speak volumes in our ears and conscience anytime we are tempted to be swayed by govt's humongous, naira-propelled propaganda that they have done exceedingly well.

Nigerians have always cried of hunger from the 1970’s onwards. It was even worse in the 1980’s down to early Obasanjo period.