₦airaland Forum

StivoH2022:
Kenyas population was approx 50m as of 2022 ...registered voters were 22m.

Nigeria's registered voters are 93m... if the percentage is almost the same as Kenya's, then Nigeria's population should be above 200m

How many were Kenya’s actual voters from that 22 million ? Now compare that to the actual voters who came to vote in Nigeria. Just approximately 25 million out of a so called 93 million.

I so much agree with this.

vaxx:
Another Tesla Cybertruck car on the street of Accra, Ghana 🇬🇭 four has been identified somewhere

I am yet to see one in Nigeria , anyway they're few Nigerians who can afford it anyway.

A simple google search would save you this headache.
No matter how down or poor Nigeria is, she can never be compared with Ghana.

Obiano13:
This is what the CIA and DEA said according to court documents:

The agencies told a US District Court in Columbia that they could not fully disclose Tinubu’s level of cooperation with the CIA. The DEA stated that Nigerians did not have a right to know what Tinubu was up to.

“Human sources can be expected to furnish information to the CIA only when they are confident the CIA can and will do everything in its power to prevent the public disclosure of their cooperation. In the case of a person who has been cooperating with the CIA, official confirmation of that cooperation could cause the targets to take retaliatory action against that person or against their family or friends,” the CIA stated.

Similarly, the DEA added, “We oppose full, unredacted disclosure of the DEA’s Bola Tinubu heroin trafficking investigation records because we believe that while Nigerians have a right to be informed about what their government is up to, they do not have a right to know what their president is up to.”

😂 you are so funny my man. So how does this prove he is a CIA asset? Isn’t this a normal CIA response when they want to reject an enquiry? CIA can even reject your request for info about yourself. They hardly grant information.

Also, it would be stupid for CIA to publicly reveal their asset moreso when he/she is a public figure like a head of state and ECOWAS chairman for that matter.

Come on men, you should be smarter than this.

[quote author=Obiano13 post=132934119]

You are not even concerned that the guy is referred as an ACTIVE ASSET by CIA? What does that mean to you?

Where did CIA refer to him as an active asset?

Obiano13:
Ofcourse! The culture of blind loyalty and tribal allegiance over integrity and accountability by the usual suspects. By exalting leaders mired in corruption, drug dealing, money laundering, and abuse of power, Nigerians relentlessly send the dangerous message that moral bankruptcy is tolerable as long as it aligns with personal or ethnic interests over ideal values. This unending defense of immorality not only normalizes wrongdoing but also perpetuates the cycle of poor leadership that continues to make Nigeria what it has become. I am expecting too much of you ofcourse!

Go through those documents again in 1993. I do not see where the man was convicted of drug dealing. He was accused yes, because his account received money from two brothers of his Nigerian friend. That particular account was blocked in 1992 for which he presented himself to find out why. In the end, he forfeited what the court believed was the particular proceeds of drug and the rest of the money in the account (a family account by the way) was returned to him and his family. Remember he was in Nigeria working in Mobil as an accountant as at the time this account was flagged and he had a Nigerian business with that his friend who was based in the U.S.

The American court simply traced all accounts the money from the brothers of his friend got to. Even that friend himself who sent Tinubu the cash was not charged or accused. Tinubu only got into the picture because it was believed that part of the money sent to him by his friend (whose brothers were convicted) were also proceeds of drug crimes by those two convicted brothers.

What we cannot prove is if he was part of the drug ring himself because it doesn’t seem the convicted guys mentioned his name.

I have read almost every account I can find on this case and in summary we can say we don’t know if Tinubu was part of the drug ring or not but the guys who were part of it were already convicted and sentenced at the time.

Remember even Mobil did not sack him or suspend him because of this case. He was their treasurer in Nigeria at the time.

rvp2018:
Kenya economic turnaround nearly complete.
- Inflation at 2.7 percent - lowest in 17yrs!
- Forex reserves now at 4.6 months
- KES stabilized at 130.
- Economy expected to grow at modest 5 percent
- Gov Revenues grew 25% almost last month - last year revenues grew 11.5%
- Interest rate in treasury bills and bonds dropping
- Base rate likely to go single digit - now at 12%.

Ruto administration has pulled a very quicky recovery and by April IMF will exit - and the economy will be back to firing on all cylinders.

I agree, I see some progress. For Nigeria, we may still have some complexities and some way to go probably.
The biggest problem we have: Too much naira spending in the system chasing a mere $40 Billion gross reserves.
Tinubu by ideology, is too expansionist and believes in big Government spending for growth (like I do) but this is conflicting with the needed economic reforms at this time. We need ways to moderate Government spending and the over 107 trillion naira in circulation.
But on the positive, Tinubu’s team has done a good job by reducing printing (ways and means) in 2024 compared to 2022 and 2023, and even paid back to the Central Bank the 7 trillion naira printed in 2023.

Obiano13:
Your president is a thug my friend. 1st grade thug.
https://www.occrp.org/en/news/us-blocks-records-on-nigerian-presidents-alleged-drug-ties

In a recent court filing, the agencies argued that confirming or denying the existence of records could compromise privacy interests and national security, as they responded to multiple Freedom of Information Act (FOIA) requests from plaintiff Aaron Greenspan. The case highlights ongoing tensions between transparency and the protection of sensitive information held by federal agencies.

The CIA, FBI, and DEA jointly filed a statement opposing the release of unredacted files on Tinubu’s background, again citing national security concerns. According to the filing, disclosing these details could endanger U.S. interests abroad.

Court documents from a Chicago case claim that in the early 1990s, Tinubu was linked to bank accounts allegedly used to launder money for a heroin ring in Chicago. Records from 1993 reveal that Tinubu, then a prominent figure in Lagos, agreed to forfeit assets to U.S. authorities in a plea bargain, sidestepping a potential trial on drug trafficking and money laundering charges.

Amid public demands for transparency, the DEA echoed the CIA’s stance, maintaining that citizens are not entitled to unrestricted access to intelligence files. “We oppose the full, unredacted release of the DEA’s Bola Tinubu heroin trafficking investigation records because… they do not have a right to know what their president is up to,” the DEA stated.

The agencies' position hinges on national security risks, with the CIA underscoring the potential consequences of either confirming or denying any ties to Tinubu.

It has been 31 years since Tinubu, then a private citizen, forfeited $460,000 to U.S. authorities after an investigation tied him to alleged drug trafficking in Chicago.

This reply from CIA is the general reply they give to many applications. Neither confirming or denying anything. So how did you deduce CIA asset from there? You are not answering the question.
We should learn to use our brains for fvck sake.

Obiano13:
This is SHOCKING BUT explains A LOT! Tinubu is a CIA mole,,, after being arm twisted 30 yrs ago when he was arrested with drug money in the US. Confidential informants are helpful to CIA because they have insider information and are VERY cost-effective. Such informants cooperate with the authorities in exchange for reduced charges, reduced sentences, or immunity from prosecution. I can bet my money sleepy Tinubu avoided jail by agreeing to turn into a CIA mole and providing the US with lots of information on Nigerian affairs. This explains why the current Nigerian govt is playing to the gallery even on economic policies that are meant to finish Nigerian citizens.


https://www.youtube.com/watch?v=YH2OHmPt0qg

The Central Intelligence Agency has indirectly confirmed that Nigeria’s President Bola Tinubu is a CIA mole by confirming that Tinubu is regarded as an active asset by U.S. intelligence agencies. This disclosure emerged in a joint filing by the U.S. intelligence agencies that were opposing the release of the unredacted information about President Tinubu’s background. This has sparked a debate on whether the president is an active agent of the CIA or not. But the government and President Tinubu’s silence on the matter has raised more questions on the matter.

Must you believe everything you see on the internet? Can you show me where in the CIA reply you deduced he is a CIA asset? Why do we love conspiracy theories this much?

Lagos redline train night ride.


https://www.youtube.com/watch?v=3KqOiLWTB9Q?si=3QMfpuiXfM8Ohvnu

Dangote jet now makes up at least two-thirds of Nigeria's jet fuel supply and almost half of the fuel used across West Africa, according to Energy Intelligence calculations. Nigeria's jet fuel imports have collapsed from 13,000 b/d last year — when they made up all of the country's supply — to just 5,000 b/d so far in 2024. Jet imports into West Africa from outside of the region have similarly dropped from 34,500 b/d in 2023 to just 17,900 b/d so far this year. Loading schedules show Dangote jet heading to Benin, Senegal, Togo, the Gambia and Gabon in the region. Dangote’s owner has previously said the plant will eventually produce enough jet fuel to supply all of Africa.

GeneralDae:
Chowdeck, a Nigerian YC-backed food delivery platform, could consider expanding to South Africa, Kenya, and Ivory Coast.

“We are still figuring things out, but we are looking at these countries because they have a mature market. Especially South Africa,” Kennedy Offor, sales lead at Chowdeck, said on the sidelines of Moonshot by TechCabal on Thursday.

Chowdeck expansion
The food delivery markets in South Africa, Kenya, and Côte d’Ivoire are bustling with players. In South Africa, there is Mr D Food, a Takealot Group subsidiary, Uber Eats, Zulzi, and others. In Kenya, Chowdeck will compete with Glovo and Bolt Food. Glovo and Uber Eats are also in Côte d’Ivoire.

Chowdeck, which recently celebrated reaching one million registered users, makes 40,000 deliveries daily. However, 70% of them come from Lagos State.

While the company has integrated other verticals like grocery delivery, medicine shopping, advertising, and last-mile logistics to expand its offerings on its app, expanding to other countries with a similar consumer dynamic like Lagos provides growth opportunities.

Until the international expansion, Chowdeck will continue working to increase the number of restaurants in its network by adding new ones and supporting existing partners to open outlets in new locations.

“By opening outlets closer to places where the data shows frequent orders come, we are ensuring that food gets to people faster and at a more affordable rate,” Offor said. “We have helped smaller businesses [in Lagos] open such new outlets.”

For restaurant aggregators like Chowdeck to scale orders, restaurants with high patronage must be well-distributed. So the company has also doubled down on partnerships with quick-service restaurant chains. In August 2024, it signed an exclusive partnership with Chicken Republic, which has nearly 100 outlets in the country. The company recently worked with Chicken Republic to launch a new food product. Chowdeck is also looking to support its expansion into new states.

“We figure out ways to help them grow as much as we can, whether it’s a quick delivery, whether it’s the amount of data we’re able to give them in terms of where orders are coming and whatnot,” he said.

Offor believes a symbiotic relationship with these restaurants is a sure path for the company’s growth. This seems like an operating philosophy that will fit right in wherever their expansion takes them.

Chowdeck from just 300 registered users when they were founded in 2021 to 19000 in 2022, to 250,000 in 2023 and now over 1 million in 2024.

Now looking to expand to all 36 states in Nigeria (currently in just 8 only), and possibly in the coming year enter into South Africa, Kenya, and the Ivory Coast.

Remarkable growth.

humility33:
I don't understand because the refinery was supposed to lessen the pressure on the naira at least we are supposed to see the effect even the claim trade surplus by the FG last month is of no effect on the naira

But you forgot to ask about the crude oil Dangote is getting. Isn’t that also crude that we are no longer exporting for dollars?

naijaboy756:
Oga dollar was used to import those products before now right?

So since October, we did not need that! Dollar was saved as FX or let’s say that the pressure that amount of dollars was supposed to exert was taken off and it ought to have an immediate impact on the value of the Naira right ?

Yesterday Naira crashed further to over N1,700

Are you an APC supporter? Let me know how to package the insult

Dangote refinery cannot save naira until he starts exporting when at full capacity. This is because Nigeria gives Dangote crude that would have otherwise been exported.

Dangote’s Net Worth hits $28bn following the completion of his refinery project.

Now 65th richest man in the world.

The Dangote Refinery has finally revolutionized the PMS Market not only in Nigeria but in Africa. Nigeria, being the largest country by population in Africa, is also the net importer of PMS on the continent.

Imports of PMS to Nigeria dropped sharply from weekly average of 1.3m barrels in August to just about 280,000 barrels in first week and another 290,000 barrels in second week of October

Only 2 cargoes of PMS have been imported throughout this October as against the average 12 cargoes in August.

While Dangote Refinery is ramping up production, it’s still news that the major PMS producing Unit of the refinery, the RFCC is not running to capacity which is typical of new chemical processing plants.

Two things will happen in the next few weeks:

1. The PMS from Dangote will flood the market from the first NNPCL order being sold to marketers or marketers buying directly from the refinery. This will take time before the product circulates.

2. Or the country faces fuel scarcity as a result of insufficient supply from Dangote and also insignificant supplies from imports.

The ball is now in the Dangote’s court. Prove he can make Nigeria self-sufficient or give the government and “the people” reason to justify continuation of imports.

TIME WILL TELL

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Chowdeck, a Nigerian YC-backed food delivery platform, could consider expanding to South Africa, Kenya, and Ivory Coast.

“We are still figuring things out, but we are looking at these countries because they have a mature market. Especially South Africa,” Kennedy Offor, sales lead at Chowdeck, said on the sidelines of Moonshot by TechCabal on Thursday.

Chowdeck expansion
The food delivery markets in South Africa, Kenya, and Côte d’Ivoire are bustling with players. In South Africa, there is Mr D Food, a Takealot Group subsidiary, Uber Eats, Zulzi, and others. In Kenya, Chowdeck will compete with Glovo and Bolt Food. Glovo and Uber Eats are also in Côte d’Ivoire.

Chowdeck, which recently celebrated reaching one million registered users, makes 40,000 deliveries daily. However, 70% of them come from Lagos State.

While the company has integrated other verticals like grocery delivery, medicine shopping, advertising, and last-mile logistics to expand its offerings on its app, expanding to other countries with a similar consumer dynamic like Lagos provides growth opportunities.

Until the international expansion, Chowdeck will continue working to increase the number of restaurants in its network by adding new ones and supporting existing partners to open outlets in new locations.

“By opening outlets closer to places where the data shows frequent orders come, we are ensuring that food gets to people faster and at a more affordable rate,” Offor said. “We have helped smaller businesses [in Lagos] open such new outlets.”

For restaurant aggregators like Chowdeck to scale orders, restaurants with high patronage must be well-distributed. So the company has also doubled down on partnerships with quick-service restaurant chains. In August 2024, it signed an exclusive partnership with Chicken Republic, which has nearly 100 outlets in the country. The company recently worked with Chicken Republic to launch a new food product. Chowdeck is also looking to support its expansion into new states.

“We figure out ways to help them grow as much as we can, whether it’s a quick delivery, whether it’s the amount of data we’re able to give them in terms of where orders are coming and whatnot,” he said.

Offor believes a symbiotic relationship with these restaurants is a sure path for the company’s growth. This seems like an operating philosophy that will fit right in wherever their expansion takes them.

Obiano13:
If we cannot borrow to build lets work with crooks. For this one Adani will build from scratch power lines. JKIA was outright theft.

Kenya has officially signed a power deal with India's Adani Energy Group, worth Ksh95 billion, to construct 422 kilometres of vital transmission lines despite opposition.

However, financial implications loom large, with reports indicating that the Adani Group may seek Ksh634.7 billion (USD 4.92 billion) from Kenyans over the next three decades. This raises concerns about potential increases in electricity prices as the conglomerate seeks to recover its investment. The government is under pressure to clarify how this financial burden will affect consumers, especially in a nation where many already struggle with high living costs.

What is worse is this does not involve competitive bidding, so we might easily have gotten the worst possible deal out of all potential suitors. The only competitive bidding that took place was Ruto and the egghead Murkomeno being handed a hefty cheque in Dubai as a bribe to sell his own country's assets. Their time is coming. They will pay those debts with interest. Are we together Kipmeno? Why only Adani out of all potential investors? Why give one evil man all sectors of the economy, from health to power to education and airports? Niggas think we are their fools but their time is coming.

AIRPORTS _ Adani
KENYA POWER - Adani
HEALTHCARE - Adani
SECURITY SECTOR - Adani

RIP I'm telling you soon enough you will realize power is an illusion when a dishevelled Ruto and his Indian friends are paraded in court.

Is Adani now the new Dangote of Kenya?? lol 😆

Asianplug:
Significant differences my brother. With the exception of perhaps Myanmar, the others doing a lot better in having more livable villages, towns and cities.

Even India that is globally infamous for being dirty and disorganized, doesn’t look as dusty as African towns and villages. The main issue is that we in SSA don’t see any problem in having dusty looking villages and towns. It’s not like we can’t afford to change it if we really want. My prayer is for Africa to get better so that Blacks rating will improve too.

How many African villages do you know? Many African villages are even more serene than the towns.

Obaaderemi2:
You have another chance to throw ruto out in 2027 or vote him again. Same goes for Nigeria

As for Tinubu, remember I was always saying it here in 2022 in my argument with rvp2018 that removing subsidy is not really a big issue but we have to always be careful with policies around currency.
This in my opinion is the major thing that should be looked into more critically in the Tinubu Government. No palliative can cure the headaches that come with a wobbling currency.

CEMENT: Demand soars amidst price hikes, declining purchasing power


Financial Vanguard findings on the operating environment of the companies indicated that macroeconomic headwinds such as inflationary pressures, foreign exchange volatility, rising cost of production, and declines in purchasing power, have escalated since the beginning of this year.

But the cement producers have recorded superlative financial performance within the same period, indicating that a section of the consumers are still retaining strong purchasing power enabling them to spend beyond basic necessities of life such as food.

Domestic prices of cement have remained elevated with retail price ranging between N7,400 and N8,000 per 50 kg bag up from about N6,000 market average a year ago, reflecting the broader macroeconomic challenges.

But at the backdrop of the challenges demand for the product considered non-essential for the larger populace in Nigeria, has continued to rise.

Volume of products sold recorded significant increases across all the leading producers with the sector leader, Dangote Cement Plc, already growing volume by 3.8 percent in the six month period.

The combined outcome of the rising volume of sales and the product price increases during the period was a massive growth in net sales revenue for the major cement producers which rose by 76.6 percent in the first half of the year (H1’24).

The biggest industry player, Dangote Cement Plc, recorded overall sales volume increase of 3.8 percent to 13.934 MMt in H1’24 from 13.420mmt in the corresponding period of 2023.

But its Nigeria operation saw a huge 10.93 percent volume increase to 8.994MMT from 8.108mmts in H1 2023.

The local cement market continues to exhibit robust demand, fueled by increased construction activities from ongoing housing developments and road infrastructure projects, driven by significant public and private sector investments.”

Going forward, they said: “Our outlook on domestic demand remains buoyant, bolstered by the FG’s increased capital expenditure allocation of N13.77 trillion, with an anticipated implementation rate of 37.8%. “Consequently, we project sales volume growth of 3.1% y/y for Dangote Cement, 10.4% y/y for Lafarge Africa, and 21.7% y/y for BUA Cement in 2024.”

They stated that the producers would take advantage of the anticipated ramp-up in the FG’s capital expenditure allocation from the various ongoing construction projects nationwide and investments in private construction activities, especially in urban areas, to grow sales volume coupled with an upward revision in prices.

Chinazom Izuorah, Senior Associate, Parthian Partners, said: “Looking at recent developments, policy pronouncements and government initiatives, even without insight into partnerships or collaborations between these firms and contractors, we can ascribe these volume increases among the cement manufacturers to the present administration’s capital projects.

Lagos Redline


https://www.youtube.com/watch?v=Z-jXfD5ziZE?si=sWgZYjBt46VqteNv

[quote author=ProblemChild1
post=132100354]But why?[/quote]Because Togo has just one stadium and their national team would train and play there a week after Ghana’s game.

Niger, Mali, Bfaso finally free from foreign military bases.

Togo denies Ghana’s request to host leaving Ivory Coast as the only option left.

popizaino:
Suprising to see kenya 🇰🇪 have more airports than Japan . What are they doing with this number of airports ?

Airstrips included?

isan:
Prime Oshoala would have 97 or 98

Exactly. Oshoala of 2014 - 2016 especially.

casualobserver:
I am not aware of that. But even if that is the case it is just short term. By definition he makes more selling refined products than the cost of the crude.

Very marginal gains but the polypropylene should give him extra 700 million to 1 Billion dollars yearly if my calculation is correct.

casualobserver:
it does not. Don’t just make empty statements. Back it up with reasoning and facts
/data. I have told you why he does not need Nigeria. Dangote has been producing diesel and jet-A1 since June. He has been exporting over 90% of it. He can do the same with petrol.

He has been producing diesel for months, have you seen colorless diesel in the market?

But Dangote is still having problems importing with dollars. As we speak, two ships are stuck on the sea and refused to sell crude to him because he is struggling to fund his Letters of credit in dollars. He needs this naira deal as a base for survival.

Mandate1:
you're wrong sir. There's nothing like international price for a commodity produced locally. You can't be using international price for a commodity you have comparative and absolutely advantage above others.

Subsidy in Nigeria is as a result of buying fuel at the International market while abandoning our refinery.

Now that we have Dangote refinery, international market price holds no water. We only pay for the cost of extracting raw crude and refining at Dangote refinery. FG does not need to subsidise anything again.

You only pay subsidy for a commodity that is too expensive to produce or not produced at all in you country. Nigerians have no reason buying fuel above 300 with Dangote refinery in place. #300 is even too expensive.

This would make sense if all our crude oil is produced by NNPC but that's not the case. So the cost of producing the crude by shell,chevron, etc is done in dollars. The cost of producing crude worldwide is done in dollars. Producing crude is not thesame as producing cocoa beans or cash crops.

tefund:
NNPC as a company doesn't produce up to 350k per day of crude ,the bulk of our crude is produced by IOC and a good percentage of NNPC crude is already tied to foreign loan ...

You are wrong. Since 2005, NNPC always preserved 445,000 bpd of crude which is called Domestic Crude Allocation (DCA). This is what they have been using as SWAPS and doing forward contracts with. Because of the subsidy corruption, NNPC have been exporting little from this DCA since 2016. This is also a major reason the naira has suffered as terribly as it did since 2016.

tefund:
Are you aware Dangote refinery imports the bulk of its crude?NNPC can only meet a fraction of its total need..

NNPC would sell 385,000bpd crude to Dangote in Naira from October. That's over 60% of all the crude Dangote needs and a good deal given Dangote has been struggling to pay for his imported crude and some ships are stuck in the sea and have refused to upload to him so Dangote needs this deal from NNPC as well.