₦airaland Forum

Deltamani:
His (Madugu) major problem will be the Combination in Midfield.. who will he play, he likes Abiodun very much but will Ayinde back.

Is tough oo

I think a very fit Ayinde is one player in the Super Falcons Midfield that must start. Ucheibe plays better alongside Ayinde in Midfield and i hope he understands that too..

True. Ayinde’s presence gives Ucheibe the room to not just defend but to show her attacking qualities.

moneymanager:
There is money in this country ……..

There’s a mix up there though and this is probably also the fault of the NNPC’s lack of transparency. The NNPC official could not explain properly to the senate how they spent over a 100 trillion in the period . If you dig deep into the story, you’ll see both the NNPC official and the senate committee are confused.

“It is clear that N210 trillion is not missing. The figure is a combination of accrued expenses and receivables, transactions that should cancel out each other once fully reconciled.

The Senate’s main concern is (and should be) about the financial process and transparency. They believe it is a serious lapse for such large transactions to be published in an audit report without proper governance approvals”.

For more on this, read:

https://fij.ng/article/explainer-no-evidence-n210trn-in-nnpc-audit-is-missing-just-poorly-explained/

Deltamani:
Watch Chioma Okafor short Highlights and see what to expect from her …


https://www.facebook.com/share/v/1BH7iFSsx8/?mibextid=wwXIfr

Reading other Facebook comments from Malawians and they are really pained about this.

Someone commented saying their FA is very unserious because he couldn’t understand why the FA would think a Chioma Okafor (probably Mr Ibu’s daughter) is a Malawian 🤣🤣

Nollywood really exposed Nigeria to Africa, chai.

joxxy01:
I am happy over the inclusion of Folashade Ijamilusi... A very good forward I must.

I feel so emotional about this Chioma Okafor of a girl call up. Though partly a Nigerian, she lived most of her life in Malawi before going to the US. It would be natural for a player like that to choose her country of birth easily without been convinced, but here we are..... A good addition to our arsenal

Who would choose Malawi when you can easily go to AWCON with Nigeria, possibly win it, play in the World Cup and Olympics in no distant time? Choosing Malawi would have been a decision based purely on emotions not logic.

List is out. What do you guys think of the list?

Deltamani:
Her Mother is from Malawi while her Dad is from Nigeria.. She was born there though before moving to the US

I really do see a lot of Tabitha Chawinga in her, Strong, Fast and dangerous Left foot. she love to play from the left the Wing as well…!

Good catch for Nigeria and herself..

Good decision by her. Malawi FA for some reason do not do enough in terms of regulations and organisation to be allowed to participate in AFCON qualifiers. I wonder why they would expect her to choose Malawi who are only generally comfortable with just SAFA competitions rather than the AWCON.

isan:
Which of her parents is from Malawi?......

Her mother. It seems she was born in Malawi and grew up a little there so it was natural for Malawi to be expectant.

Just saw this now for first bank and fidelity.

https://proshare.co/articles/firstholdco-addresses-cbn-forbearance-circular-affirms-dividend-commitment?menu=Market&classification=Read&category=Stock

otokx:
Please can you post a copy here of the latest CBN clarification?

I didn’t see the official statement but from this article on nairametrics.

https://nairametrics.com/2025/06/18/cbn-says-forbearance-affected-banks-under-close-supervision/

jonnysessy:
If horses were wishes, beggers will ride. I had no money in my account the first two days the forbearance fever hit the market. I was hoping it will last for at least a week. But, to my surprise all the affected banks started looking up even before their PR started responding to the CBN publication. Even, not all banks have responded (UBA) but all had gotten back to the price they were or even better.


Lesson learnt: Don't take a decision in the market in a rush. If the reason you bought a stock is still there, then you buy more any available pull- back, to always average down.

I think beyond the response from individual banks, CBN’s latest clarification has somehow restored confidence again.
Long term investors are even buoyed by the sentiment that mid to long term, this is to ensure stronger and more stable banks post recapitalisation.

Mpeace:
Lol
This guy don load access
I do not know why no one is talking about UBA on this forbearance issue. Even the bank has not deemed it fit to make any publication.

What is the position of UBA on this issue

I saw a nairametrics analyst say they may likely clear theirs by end of this year.

Mpeace:
.
It's having similar price appreciation in the London Stock exchange.
Is there something on the way that we do not know yet?

Oil prices and what may happen in Iran soon.

Analyst Ugodre is confident that Zenith Bank has the capacity’ to clear the forbearance H1 2025 (this month) or latest Q3 2025 if they want to, due to their large net assets and profits.

Insightful take by Ugodre (CEO of nairametrics) on Forbearance. He gave his overview on where the FUGAZ currently stand in the last 7 minutes of the interview.


https://www.youtube.com/watch?v=gSjnJwZh6Lc?si=WzunMFwX1C8alAnb

chimex38:
Reduced the import of refined crude and increased the import of crude itself.

Who do us this thing?

But if we give Dangote our crude, it would still reduce our exports of crude especially when we give him in naira. Don’t forget that Dangote mostly imports WTI from the U.S which is a cheaper crude, so when you add logistics, the prices are almost the same or still even slightly cheaper than when he buys the expensive Bonny Light from NNPC or Chevron.

However, I think the major reason NNPC can’t supply Dangote as much as we would expect for now is the issue of the forward sales contracts which are estimated to be around 300k bpd currently. NNPC and the Federation together doesn’t have more than 750k bpd from the 1.45 million bpd we currently produce. This means they may only have around 450k bpd left to give Dangote and also export. Servicing Dangote alone requires 650k bpd.

Dangote can buy from IOC’s in Nigeria and the new indigenous players but I think the deal to buy some parts of the crude in naira is only possible with NNPC for now.

megawealth01:
Was thinking this will help Oando rise in price sha

Should but with the market sometimes, you’ll never know.

Oil prices keep climbing. May get to $80 per barrel soon. The world must be prepared.

Cardoso wants to bite the bullet once and for all before the recapitalisation exercise comes to an end which is just early next year.

Agbalowomeri:
So up till now nobody knows which banks are affected

GT is the safest from all articles I’ve read. Zenith and Access may not be as safe as GT now but they have significant capacity and can still put their heads above water.

A comprehensive perspective on the forbearance loans and how the banks stand currently by nairametrics.

https://nairametrics.com/2025/06/16/six-nigerian-banks-face-risk-of-lower-profits-dividends-over-end-to-cbn-forbearance/

Omo. Alhaji is ready, he is not here to play at all.

Dangote Grand Controller of Nigeria, crazy feat it's.
Waiting for the steel mills. https://t.co/niG7vAdpLB pic.twitter.com/Nuq04GuEgx

— FelixNotJoao (@felix_olaosegba) June 15, 2025

Raider76:
How? Alhaji is creating 4,000 new jobs for drivers.

Also, using CNG trucks for this is a very smart move.

DANGOTE PETROLEUM REFINERY TO BEGIN DISTRIBUTION OF PMS AND DIESEL NATIONWIDE

...Deploys 4,000 CNG Tankers To Enhance Distribution Network Nationwide

…Offer open to Marketers, Petrol Dealers, Manufacturers, Telecoms Firms, Aviation and other large users

Dangote Petroleum Refinery is pleased to announce the commencement of a significant national initiative designed to transform Nigeria’s fuel distribution landscape. Effective 15th of August 2025, the Refinery will begin the distribution of Premium Motor Spirit (PMS) and diesel to marketers, petrol dealers, manufacturers, telecoms firms, aviation, and other large users across the country, with free logistics to boost distribution network.

To ensure smooth take-off of this scheme, Dangote Refinery has invested in the procurement of 4,000 brand-new Compressed Natural Gas (CNG)-powered tankers. This phase of the programme will continue over an extended timeframe. The refinery is also investing in Compressed Natural Gas (CNG) stations, commonly referred to as daughter booster stations, supported by a fleet of over 100 CNG tankers across the country to ensure seamless product distribution.

This strategic programme is part of our broader commitment to eliminating logistics costs, enhancing energy efficiency, promoting sustainability and supporting Nigeria’s economic development. It affirms our dedication to improving the availability and affordability of fuel, in support of broader efforts to strengthen the economy and improve the well-being of all Nigerians.

Under this initiative, all petrol stations purchasing PMS and diesel from the Dangote Petroleum Refinery will benefit from this enhanced logistics support. Key sectors such as manufacturing, telecommunications, and others will also gain from this transformative initiative, as reduced fuel costs will contribute to lower production costs, reduced inflation, and foster economic growth. Players in these key sectors and others can purchase directly from the Dangote Petroleum Refinery.

In addition, the refinery will offer a credit facility to those purchasing a minimum of 500,000 litres—allowing them to obtain an additional 500,000 litres on credit for two weeks, under bank guarantee.

This pioneering effort marks a major milestone in our vision to revolutionise Nigeria’s energy sector. Dangote Refinery is dedicated to ensuring that no place is left behind. Our goal is to provide equitable access to affordable fuel for all Nigerians, regardless of location, making energy more accessible and sustainable for everyone, wherever they may be.

It is expected to revitalise previously inactive petrol stations, thereby driving job creation, stimulating small and medium-sized enterprises (SMEs), increasing government revenue, improving fuel access in rural and underserved communities, and strengthening investor confidence in Nigeria’s downstream petroleum sector.

This initiative is inline with the Renewed Hope Agenda of His Excellency, President Bola Ahmed Tinubu, reflecting our shared commitment to economic progress, stability, and inclusive development. We sincerely thank the Federal Government for its continued support, especially through the Naira-for-Crude scheme, which has helped stabilise fuel supply amid global price volatility. It marks a major revolution in the midstream and downstream sectors and stands as a key example of President Bola Tinubu’s bold and reformative economic policies.

We invite marketers, petrol dealers, manufacturers, telecom companies, and all key stakeholders to embrace this landmark initiative. The registration process, including Know Your Customer (KYC) verification, will take place from 16 June to 15 August, spanning a total of 60 days. For enquiries, please call +234 707 470 2099, +234 707 470 2100, +234 816 961 8390, +234 703 796 8308, +234 812 362 2893. Email: Email: sales.enquiry@dangote.com.

Okay it seems this is the announcement Dangote was talking about last week.

Access Bank with another acquisition. This time in Gambia. I think Access Bank is positioning for something big in Africa.

https://standard.gm/access-bank-takes-over-standard-chartered-bank/

moneymanager:
https://www.thisdaylive.com/2025/06/15/regulatory-forbearance-cbn-directs-first-bank-others-to-suspend-dividend-payments-bonuses/

If First Bank is there then I don’t know who will be exempted.

I was expecting First Bank to be there actually.

ositadima1:
My point is clear: what is shared is the profit after costs, taxes, royalties, and other deductions. And clearly, the profit is not shared on a 50:50 basis contrary to what you claimed. Not even close.

So what is it from your article? How much crude oil profit is our share from our JV partnership and production sharing contracts with the IOC’s both offshore and onshore? You have not countered what I wrote. But we can just kill it here.

ositadima1:
In this era of easy access to information, It took me just a minute to ask Gemini AI a few questions, and it extracted this information. I hope you take the time to read it carefully and understand why your 50% sharing idea doesn't work.

Here's a breakdown of how oil revenue is typically shared in Nigeria:

1. Types of Agreements:
* Joint Ventures (JVs): Historically, these have been the dominant mode of operation. In JVs, the Nigerian National Petroleum Company Limited (NNPCL) (formerly NNPC) holds a majority equity stake (often around 55% or 60%) in the venture with International Oil Companies (IOCs). In this arrangement, both parties contribute to the costs of exploration, development, and production in proportion to their equity share, and then they share the profits accordingly. However, the government's consistent failure to meet its "cash call" obligations (its share of the funding) has led to challenges.
* Production Sharing Contracts (PSCs): These are common in offshore and deepwater operations. In PSCs, the IOC (the contractor) typically bears the initial exploration and development costs and risks. Once oil is discovered and produced, the revenue is shared in a specific order:
* Cost Oil: A portion of the crude oil produced is allocated to the IOC to recover its capital and operating expenditures.
* Royalty: The Nigerian government receives a royalty on the crude oil produced. This is a direct payment for the extraction of the natural resource. The rates for royalties have been adjusted over time, particularly with the Deep Offshore and Inland Basin Production Sharing Contracts Act amendments. For instance, in deep offshore areas, it's now often 10%.
* Tax Oil: A portion is also set aside for the Petroleum Profits Tax (PPT) which is a tax on the profits of the oil companies.
* Profit Oil: The remaining oil after cost recovery, royalties, and tax oil is "profit oil," which is then split between the government (NNPCL) and the IOC in agreed-upon proportions. These proportions can be influenced by factors like oil prices and production rates.


2. What the Percentages Refer To:
When someone mentions percentages, they could be referring to:
* Equity Share in JVs: If they are talking about Joint Ventures, Nigeria's NNPCL typically holds a majority stake (e.g., 60% or 55%), meaning they are entitled to that percentage of the crude oil and are also responsible for a proportional share of the costs.
* Profit Oil Split in PSCs: In PSCs, the 60/40 or similar split would likely refer to the "profit oil" remaining after costs, royalties, and taxes have been accounted for. The exact split for profit oil can vary based on the specific contract and other clauses (like "R-factor" which relates to the ratio of cumulative revenues to cumulative costs).
* Overall Government Take: This encompasses all the ways the government derives revenue from oil, including royalties, petroleum profits tax, NNPCL's share of profit oil (in PSCs) or equity crude (in JVs), and other bonuses.


3. The 40%/60% Scenario:
It's plausible that in some specific Production Sharing Contracts, after cost recovery, royalties, and other deductions, the remaining "profit oil" is split with 60% going to Nigeria and 40% going to the IOC. However, it's crucial to understand that this 60% for Nigeria is not of the total revenue generated by the oil company from sales, but rather a share of the profit oil after various deductions.
Important Considerations:
* Petroleum Industry Act (PIA): The recent Petroleum Industry Act (PIA) aims to reform Nigeria's oil and gas sector, including its fiscal framework. It introduces new royalty rates, taxes, and contractual terms designed to increase government revenue and attract investment. This means the specific percentages and terms of revenue sharing are subject to the provisions of the PIA for new and renegotiated contracts.
* Cost Recovery: A significant point of contention has often been the high costs declared by IOCs, which directly impact the "profit oil" available for sharing. Inflated costs can reduce the government's share of profits.
* Royalties and Taxes: The Nigerian government also earns substantial revenue through royalties and various taxes on oil company profits, which are independent of the direct profit split in some agreements.

In summary, while a 60% to Nigeria and 40% to IOCs split might apply to the "profit oil" in some agreements, it's not a direct split of the total revenue generated by the companies. The actual percentage of revenue that comes to Nigeria is derived from a combination of equity stakes, royalties, taxes, and profit-sharing arrangements, which are complex and subject to specific contract terms and the evolving legal framework.

I really don’t get what your point is. I gave a rough estimate of 50% across both onshore and offshore operations. You can see from your article that there’s nothing fixed and it varies. So when I say we gain only about 50% of the exports, how does your article about our JV agreements disprove this?

You should also know that only in 2025 did both NNPC and indigenous companies increase their share.

But let’s assume we get a remittance of 60% currently in total, how does that give us a surplus that can help the foreign exchange considering that we only had a 5.17 trillion naira trade surplus with the total included?

Total exports ( including about 40% repatriated): approx 20 trillion naira

Crude oil exports : approx 12.5 trillion naira

Trade balance : approx 5 trillion naira

emmaodet:
From the attached pictures, the market cap of nigeria stock market is twice that of total 8 francophone west african countries (ivory coast, mali, burkina faso etc)
So the market cap of companies listed on nigeria stock exchange is twice of theirs and these are the countries people throw shade at nigeria.
Which means there is more companies offering more jobs in nigeria than total combined of these 8 countries.

Even despite the naira depreciation (3.5 times depreciation) in just 2 years.
Not only is our stock market the biggest by market cap in west Africa but also in east and central africa despite having the worst devaluation rate of any African country in the last 2 years.
But we can do more though. South African market cap is over a trillion dollars.

ositadima1:
I don't think it's "nada." You used to spend 1,000 naira on item B, and now you're spending only 200 naira on the same item. Not only that, you're now selling that same item you used to spend money on and earning extra income from it. How exactly is that your "nada"?

The difference is little for now compared to what crude oil exports can give. You can check statisense on twitter to see it. Crude oil exports also declined due to lower prices.
Remember also that debt servicing of our foreign loans are higher now compared to what they were in 2021 and 2022 due to global issues and several other factors.

ositadima1:
What exactly is your argument here? What is a trade surplus? Whether it's crude oil or palm oil, when you earn more than you spend, that’s a surplus. If you earn more than you spend as a country, you require less foreign currency, and as a result, your exchange rate improves.

I don’t understand your roundabout argument.

Because most of this surplus is from crude oil and associated gases. We do not receive all the oil we export rather at least 50% are repatriated immediately. All of it still shows in the surplus but it means nada.

ositadima1:
Can you truly separate the economy from the exchange rate when the exchange rate is a floating one? A floating exchange rate is primarily driven by supply and demand: if a country imports more than it exports, it will require more foreign currency, and vice versa.
If current statistics are accurate, Nigeria has started to experience a trade surplus, mostly due to reduced dependence on imported refined products. This should eventually be reflected in the exchange rate.

The same principle applies to stocks—greater demand drives prices higher, while lower demand pushes prices down. There’s no mystery in that, and I don't see why a floating exchange rates should be any different.

This is not the first time we are having trade surpluses. I think we have always had trade surpluses especially when oil prices are high.

The problem is that 80% of our exports are from oil.

Also, the huge budget deficits we have been having for over a decade took another dimension after COVID. The APC ideology of spending your way out of trouble caused this problem especially after COVID in 2020.

The printing by the CBN was then on another level and we grew by 3.65% in 2021 and then printed even more in 2022 and 2023 (including 3.5 trillion naira printing by BAT in 2023) to help the budget and only 2024 was different. This is the major problem with the naira today

Trade surpluses do not solve this easily except the non crude oil exports which have started rising, rises significantly to offset this or we increase our revenue significantly or we cut spending (which is usually harder for Governments to do).