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Juliana Terzungwe: A Woman Driver at Dangote.

Joyful365:
I'm responding to you because you have elucidated your points to some extent, unlike some here who comment like they have either sold their souls to the devil or never attended the four walls of a good university.

All your points in defence of Dangote are weak and engulfed in same strategy the rich and mighty of third nations and even first nations use to keep the working class perpetually poor.

Everything I have written is in defence of working class Nigerians.

They had the option to take up arms and go into kidnapping and other crimes but they did not.

They give their 50-70 hours working every week, but what do they get in return?

Peanuts and working conditions that make them look like fools compared to those who can simply buy machetes with less than ₦10,000 and earn much more than honest hard-working Nigerians through terror.

Dangote is telling Nigerians that he pays his drivers ₦240,000 ($180) per month, his laptop boys are amplifying it and uninformed Nigerians are clapping for them.

How much does Dangote products costs compared to same products produced in Canada, USA, China, Libya and other countries?

How much is Dangote fuel and Dangote cement in Nigeria versus similar products in other countries?

How much do those drivers and workers in Canada, USA, China, and Iran earn compared to the price of the products of the companies they work in?

Dangote is charging international price for his products in Nigeria.

Dangote speedily increased price of his cement by over 200%, citing naira devaluation, etc.

But how much is he paying his workers?

Did he increase his workers salaries by same percentage?

No!

He is topping Forbes billionaires list but majority of his workers are topping the list of those living in peanury and customers of Bet9ja and Sportybet.

Before Dangote refinery and after full subsidy removal, fuel sold for less than ₦700.

Dangote refinery came online and fuel is selling for ₦1000 across Nigeria.

All his workers can no longer afford to buy fuel to run their generators. They are getting poorer and poorer by the day.

Dangote claims to pay his drivers ₦280,000 monthly. Even though the amount is ridiculous compared to the value of the service those drivers provide, I can tell you for a fact that Dangote and his laptop boys are lying to Nigerians.

I have interviewed hundreds of Dangote truck drivers. Non of them earn up to ₦100,000 as monthly salary.

Even if you add the amount given to drivers as dispatch for each trip (which should cater for their hotel accommodation and feeding on each trip), they still don't get up to the amount Dangote is claiming to pay his drivers.

Dangote should publish the pay slip of his drivers.

Do you think drivers that are well paid and well rested will be all over Nigeria ending the lives of people due to reckless driving?

Those drivers are not well paid.

They're mostly illiterates who sleep in their trucks and stay alert on the wheels through consumption of Fearless and other hard drugs.

Go out there and talk to Dangote drivers. They're all over Nigeria delivering cement and other Dangote products.

It's no coincidence that Dangote truck accidents have been recorded every month in Nigeria over the past 15 years.

That's the most shameful safety record of any company globally but laptop boys have been paid to defend and celebrate it in Nigeria.

If I ever become president of Nigeria, I'll not allow Dangote or any company or business abuse the rights and privileges of Nigerian workers.

They're the foundation of every thriving society. When they're unprotected and vulnerable to the whims and caprices of greedy capitalists aided by ill-gotten monopoly, the society will proceed on a free fall.

Nigeria is on a free fall. I hope this helps you understand one reason why it is so.

Shalom

How much do you think Dangote should be selling his fuel? 200 naira? If so, why?

We were already buying PMS 1200 in Lagos this time last year until Dangote started operations properly in October and started reducing the price in December.

We were buying diesel 1700 in Q1 2024 until Dangote started with Diesel in April 2024 and reduced the price to 1200.

Also, I saw a graduate with experience celebrating her new employment on social media as a Dangote refinery truck driver and it’s not her first job as a truck driver. If you truly interviewed hundreds of truck drivers and they are poorly paid, I doubt such an exposed lady would be celebrating this new role with so much passion given her experience in truck driving. Either Dangote’s pay is so good or he is at least better than the others she worked for.

PETERiCHY:
This why I laugh when someone said CGT won't long-term shell-holders in an economy that is heading towards hyperinflation. Very all man eyes go clear

The economy is no longer heading towards hyperinflation. Except hyperinflation has a different meaning now.

unite4real:
You are on point. I have always had this argument when people talk about hazard jobs.

Those high end jobs have fortified safety infrastructure and yet they say it's hazardous.

The ordinary okada riders and high way bus drivers jobs are more hazardous than even a pilot if you compare the rate of casualties between them.

In a refinery anything can go wrong. In NNPC then, we were provided PPE’s but only the helmet and safety shoes. We weren’t given masks but we inhaled dangerous chemicals sometimes.
Also, at a time while we were all close by, someone failed to control the reactor temperature using the valve as instructed and quickly left because his shift had ended. The guys in the control room had to come out and a little more delay may have eventually led to a fire outbreak. Stuff like that happen all the time in a refinery.
Most importantly, hazardous chemicals inhaled in a refinery kills slowly. The sulphur content leads to dangerous cancers over time. So a refinery job is truly highly hazardous.

ositadima1:
LOL at this. My colleague who joined Aradel last year as an instrumentation engineer, with over 15 years of experience, earns about ₦3 million (though I’m not sure what he earns currently). Who told you a trainee in Seplat is earning ₦3 million? Please, let’s be factual.

This was widely reported on LinkedIn earlier this year by those in the industry after Seplat concluded their new recruitments. You can search for this yourself and disprove it here if you have other facts. This was even widely debated on Social media. Also, Seplat is bigger than Aradel. Seplat is what Aradel aspire to be in some years to come.
Again, I know very well that upstream and downstream sector is different. I’m only saying Dangote can do a little bit better considering the location of the refinery.

ositadima1:
Again, what is currently attainable in similar workplaces — places like Indorama, fertilizer plants, and other factories? Don’t compare with oil companies; their pay has historically been higher because of foreign ownership and the fact that crude is sold in dollars, so production costs are also dollar-based.

If you were to start such a business yourself, you’d pay what’s realistically attainable on the ground, not some emotional figure. What are bank trainees paid, for example?

How is my figure emotional? Even by industry standards that is low for a refinery when there are no additional benefits. Also, the location matters. I am not comparing them to Seplat and the likes who pay 3 million to graduate trainees ( these are upstream of course), I am comparing them to other refineries and I am saying given the expensive location (where accommodation is difficult), 400k doesn’t cut it. But 700k would be very okay. If there are added allowances and incentives then 500k minimum would do.

ositadima1:
Why not ₦1.5M for a trainee? People living in a bubble, honestly. Is this figure based on what you feel it should be, or on what’s actually attainable in the job market? If you pay a trainee ₦700k, then what will you pay a line manager?

Let’s talk about what’s realistic in the Nigerian labour market, not emotional opinions. What’s the salary structure in the federal ministries, for instance?

This is a refinery. A very hazardous and risky environment. If you don’t pay health insurance and other allowances as alleged, then considering the location (Lagos Island), 400k is little. If he adds the benefits then he can maintain it at the 500k level. Again, this is 2025 with naira at 1470. Even when naira was at (150 - 200) to the dollar, control room chief operators and line managers earned in the range of 500k to 700k already in NNPC (2013 - 2014), now they should earn nothing less than 2.5 million if the refineries start working.

ositadima1:
LOL, being in the upper 2% doesn’t mean everyone else is there. Maybe you live in a city or neighborhood surrounded by people like you, they call that a bubble.

Step out into the real streets or the villages and try taking a census; you’ll be surprised to find that ₦400k actually means something. It’s the same reason leaders like Tinubu and others think they’re doing a good job. it’s understandable when you live in a bubble.

400k is definitely a terrible salary for a worker in a refinery operation living around Ibeju Lekki or the Island. At least 700k for a graduate trainee should work especially if there are no health allowances and other incentives (if the report from the workers on that are to be taken into consideration).

awesomeJ:
I think salaries are more about the industry than the organization.

DIL playing in the oil and gas sector would definitely have to pay something more commensurate than what's obtainable in the manufacturing sector.

Like KPMG, PwC, salaries are identical,
NESTLE, WAMCO too.


When dollar was 160, I know Total Entry level pay was around 800k. (5k dollars per month)

In today's naira, entry level at Shell, Chevron, Total should be like 8m per month or N96m per annum.


That's why I thought N20m might be conservative for Dangote Refinery.

Shell, Chevron and the likes operate in the upstream and they make more profit than those operating refineries (midstream) and those selling to final consumers (downstream).
I did my internship at the Warri NNPC refinery some years back (just before Buhari) and the salaries of staffs generally were ridiculously low at the time.
As Interns, we got around 13k then (65 dollars) and less than the 18k minimum wage. Although we got provisions and milk once in a while as added benefits 🤣🥰

Heishere:
It will still climb back afterwards. All the borrowings are not used to solve the root cause so the appreciation seems temporary. My concern is those that invest in US stocks, will they be affected by the new tax rule given that they are also required to pay tax in US?

What borrowings are you talking about? From what I see, Government actually reduced borrowing so far this year compared to last year.

handsomebolanle:
That’s not my point sir.

PENGASSAN has members in the whole oil and gas industry. I’m saying getting that large number of skill set in general is not possible, If everyone is too withdraw from service,. The industry will become a camatose. Employers will have a full ride and wait until you see the next piper alpha incident. This will have a ripple effect on other sectors.
Dangote needs to have a table discussion but seems he wants to operate independently.

Isn’t it to our best interest if Dangote operates independently? Free from all these union strikes? One day PENGASSAN may have an issue because their leader was slapped or woke up on the wrong side of the bed and they may call for a nationwide strike.
In that instance, having Dangote free from them means no fuel scarcity and the nation is not held to ransom. Imagine operating a 650k bpd refinery that must run 24/7 and your PENGASSAN workers go on strike for any reason, halting operations for something you know nothing about. Yet you have debts to pay and shareholders to satisfy.

emmanuelewumi:
People that did the refineries strong things about 30 years ago said it can never be economically viable again.

The best thing is to sell it as a scrap.

Yet we are still spending billions of dollars every year maintaining the refineries and paying workers salaries even though they are not generating revenue

And PENGASSAN workers are still there collecting salaries and paying dues to PENGASSAN on non functional refineries 😊😆.
Who do us this thing? 😊.

emmanuelewumi:
The oil and gas marketers, importers, subsidy scammers are in government and in NNPC.


No be PENGASSAN say Port Harcourt refinery was operational after over $1 billion was spent on it last year or thereabout.

Why PENGASSAN no shout say na lie, the refinery is not working

They said the refinery actually worked but it seems the start up was premature because it was running at a loss and struggling to reach that capacity where it would be even profitable. Crude oil is costly and so if you are not making profit after injecting it into a refinery, you are better off shutting down the refinery and continuing with repairs. The new management could not allow it keep running at a loss just to prove a point and had to carry out a technical review. The premature start up by Mele Kyari (due to pressure) was said to have done more harm than good

pluto09:
Those refineries are better sold.
Refurbishing them is a waste of money, even if they start working,they would probably be running at a lost. We can't run refineries as a government enterprise and expect it to be profitable.

We can run it using the NLNG model where we own 49% and private sector 51% but the private sector operates it.

mikeapollo:
You need to ask them for the modalities:
1. You may request for details of their bank account that you can pay into, if they are the ones to trade for you after you fill and send trade mandates/instructions.
2. You can ask them the procedure if your are to fund your account and trade online by yourself using their online platform

With Cardinal Stone onboarding process, you just fill everything online from the get go and once complete, you are registered and that’s done. They just need a few days to verify your documents after that.
It seems onboarding with Morgan is a little bit more complex but then they make up for it with very low fees though.

Agbalowomeri:
You think what goes on in a government refinery would be permitted in a private business? These people think Dangote refinery is a government entity

You heard the PENGASSAN spokesperson on Channels TV the other day saying Dangote refinery was built with our money because CBN gave Dangote subsidized FX as if that’s Dangote’s crime, or as if CBN didn’t also give overseas students and round trippers subsidized FX

handsomebolanle:
Workers have the right to withdraw their services too. Do you have a problem with that?
Let Dangote go employ people to chevron, shell and servicing Company. Since he can afford to buy a truck and do free delivery.

So how do you expect me as a Nigerian to be in solidarity with your course when you don’t even care about me?
The legislators would have to regulate these unions and strict penalties have to be enforced. Workers belonging to these unions who shut down sensitive operations for every dispute (even dispute with a private company for that matter) would have to be fined or replaced by non union workers. Unions shouldn’t have such powers. It’s not done anywhere.

handsomebolanle:
I will advise not to comment like this.🙂. A lot of intricacies is at play here.

Whatever issue they have, they should sue Dangote to an industrial court and not disrupt production.

Dum20:
Please what is all this nonsense?

This is an investment thread, why are you trying to derail the objectives of this group? Why not go to politics section and be doing your nonsense comparison and bullshit. Please stop all this nonsense.

This is one of the best investment threads you can ever find anywhere in the world and the success is attibuted to the fact that we are all focused here on making money not about doing praise singing for politicians.

Please got to politics section and be doing this nonsense. We do not care if Obasanjo, Buhari, Tinubu, APC, PDP or whateve is better than what.

Just leave this place

Don’t be rude. If you don’t like my posts, scroll and ignore. There are several political views in the mix on this thread, you are only triggered by mine because it’s contrary to your bias.
So like I said before the anti spam bot banned me, just ignore my post and scroll down.

Streetinvestor2:
This is simply borrowings in dollars to defend ur naira after devaluation nothing special using short term instruments.
Some will start maturing soon
Show the figures for real investment....FDI

Okay.

mikeapollo:
The principle of ''nominal'' and ''real'' numbers as two different bases for comparison in Economics.

This is the list in dollars if we use Chatgpt:

2016 — −1,709,750,000 (≈ −$1.71 billion).
2017 — −8,509,290,000 (≈ −$8.51 billion).
2018 — −6,105,134,000 (≈ −$6.11 billion) (annual figure shows a very large negative year; CEIC reports the Sep-2018 low of −$6.105bn which dominates 2018).
2019 — −2,059,911,607 (≈ −$2.06 billion).
2020 — −237,417,621 (≈ −$0.24 billion).
2021 — −84,405,392 (≈ −$0.08 billion).
2022 — 1,181,398,385 (≈ $1.18 billion).
2023 — 2,155,553,703 (≈ $2.16 billion).
2024 — 13,350,000,000 (≈ $13.35 billion).

mikeapollo:
You have to apply the same principle for all the years, for a fair and balance comparison. That is why we have ''nominal'' and ''real'' growth numbers in Economics. It is not because of any particular govt. But if we don't that, we will be making wrong analysis or comparison.

What principle? I compared 2017 to 2025 for a reason.

ositadima1:
Then it would be better to present those numbers directly in dollars to avoid ambiguity. There is no evidence that the figures are in dollars—you’re only rationalizing.

This is daily trust report for 2024 compared to 2023. Check out the percentage increase yourself. Also note that the inflows in Q1 2025 were even better.

“Nigeria’s economy attracted higher foreign portfolio investment (FPI) inflows totaling $3.48 billion in the first six months of 2024 compared with $756.1 million in the previous year, a report has indicated”.

https://dailytrust.com/how-foreign-portfolio-investment-inflows-hit-3-48bn-in-six-months/

ositadima1:


This is what we call ambush reporting. Did you consider that since they are foreign investors, their dollars are now worth much more than before and can therefore buy more units than previously?



Or are the percentages calculated in dollars?

Yes they are calculated in dollars. They are called FPI’s for a reason and usually spoken of in dollars not converted to naira again.

mikeapollo:
Please remember to factor-in the impact of currency devaluation.
In 2010, a foreign investor with $1,000 would be able to buy shares worth about N120,000 on NGX
In 2025, the same $1,000 will buy shares worth N1,500,000

So looking at the nominal figures and percentages alone will give deceptive and inaccurate picture.

So why didn’t this same factor work in Buhari’s era against Jonathan. The currency also officially depreciated from 197 to over 300 as at 2017 and was almost 500 in the parallel market at that time (from 216 under Jonathan).
Also in the 8 years of Buhari up to 2023, when the official currency depreciated to 450 and the parallel market 750 (almost 3.5 times depreciation), there wasn’t a better inflow of FPI compared to what was found under Jonathan or Obasanjo.

Foreign portfolio investment percentage growth under presidents since 2007

1. Umaru Musa Yar’Adua (2007-2010): -6.22%

2. Goodluck Ebele Jonathan (2010-2015): +77.55%

3. Muhammadu Buhari (2015-2019): -8.0%

4. Muhammadu Buhari (2019-2023): -56.46%

5. Bola Ahmed Tinubu (2023-2025): +253.89%

<NGX>
#TheCableIndex

“The new regime introduces progressive taxation, where gains are taxed based on the payer’s income band, similar to practices in the U.S., U.K., South Africa, Ghana, and Brazil.”

According to Oyedele, the revised system now allows capital gains to be taxed on a net gains-and-losses basis, with reinvestment relief retained to encourage continuous investment in the market”.

https://nairametrics.com/2025/09/27/capital-gains-tax-will-boost-investor-confidence-taiwo-oyedele/

Streetinvestor2:
When some people are just foot soldiers to the oga at the top.They will say he is not aware of what is happening.
Watin give u liver to announce such if u know oga go vex.This is something u know can affect the economy he claims he is trying to build.
Make una leave matter

Oh come on, PENGASSAN have gone on strike several times under this Govt and also gave ultimatum to their members to halt activities over dispute with NNPC at some point.

Are you saying PENGASSAN now works for Tinubu? Really?

https://sweetcrudereports.com/pengassan-shuts-down-oml18-operations-over-labour-dispute-with-nnpcl-subsidiary/

awesomeJ:
Most players aren't just gonna exit na, so we should be good.

Even ACA, If they plug the proceeds back to FIDELITY or SEPLAT, Their gains won't be tax chargeable.

Yeah most big players would likely reinvest and that’s the aim actually.

brotherly:
Capital Gains Tax liability is triggered when an investor's annual portfolio turnover surpasses ₦150 million, generating a net gain in excess of ₦10 million. The tax is assessed on the aggregate net gain of the entire portfolio, rather than on the gains from individual securities.

So I interpret this to mean that first your portfolio must cross 150 million, and then the aggregate net gain must be in excess of 10 million. Meaning both conditions must be true for me to be taxable if I’m interpreting it correctly.