₦airaland Forum

BabsO2:
Is it not better NNPC supply the max Dangote refinery can take. With Nigeria selling the finished products instead of raw crude. Will selling finished products not earn more money for NNPC/FGN than selling raw crude?

Nigeria owns only 7.25% of the refinery.

Nigeria doubled its crude supply to Dangote Refinery in March.
NNPC: 5 cargoes/month → 10 cargoes/month
Aliko Dangote personally confirmed this information today.

What the refinery is doing with it:
🛢️ Now supplying 60% of Nigeria's refined petroleum products.
⛽ Covering ~90% of Nigeria's petrol needs
📦 Exports to Africa: 214,000 bpd (up from 100,000 in February)
🌍 Tanzania: received its first-ever Dangote cargo in March

The catch that remains:
The refinery needs 13–15 shipments per month to run at full capacity.
At 10 cargoes, it's still operating below optimum.

Domestic fuel prices in Nigeria: still at record highs.

Africa's largest refinery is filling a gap the Gulf can no longer fill.
But it can't fill it fast enough — not yet.

Data Explained

My little calculation on how the big banks have performed in 3 years (May 2023 to April 2026). All of the FUGAZ have beaten the chronic devaluation. Only Access Bank remains thesame so far.

THE FUGAZ:

FBN (May 2023) = 484.5 Billion naira ($1.05Bn)
(April 2026) = 2.2 trillion naira ($1.59Bn)

UBA (May 2023) = 321.5 Billion naira ($696 mln)
(April 2026) = 2 trillion naira ($1.45 Bn)

GTB (May 2023) = 832.9 Billion naira ($1.8Bn)
(April 2026) = 4.5 trillion naira ($3.26Bn)

Access (May 2023) = 465.7 Billion naira ($1.01Bn)
(April 2026) = 1.4 trillion naira ($1.01 Bn)

Zenith (May 2023) = 847.7 Billion naira ($1.83 Bn)
(April 2026) = 4.2 trillion naira ($3 Bn)

Assumptions: FX rates (462/$ and 1378/$) for May 2023 and April 2026 respectively.

Flutterwave just became a Bank. IPO soon?

“Industry analysts view the banking license as a “de-risking” event critical for a potential Initial Public Offering (IPO). Securing a direct license signals a high level of regulatory trust from the CBN, particularly as the company joins the 2026 AML (Anti-Money Laundering) Pilot program for fintechs.”

zendi:
At last Brent Oil headed down back to it's senses...
It will be under $100 by morning.

Unless Trump says something or Iran rockets one commercial vessel over the night.

$100.58

Well, Trump said something.

OANDO COMMENCES FINAL INSPECTIONS FOR 60MW GAS TURBINE

​Oando (formerly Nigerian Agip Oil Company) has mobilized personnel for a critical inspection of its gas manifold infrastructure.

This technical review is the final step required before releasing gas into the newly completed 60-megawatt gas turbine, ensuring all systems are primed for operational takeoff.

As the primary energy provider for the project, Oando’s successful "gas-in" process is the catalyst for the facility’s launch.

This milestone comes as Bayelsa State prepares for the official visit of President Bola Ahmed Tinubu, GCFR, who will formally commission the turbine along with several other signature projects in the coming days.

https://x.com/microsmoothie/status/2039380748130533553?s=46

Middle East shock gives Dangote Refinery leverage as cheap imports dry up

23 Mar 2026

Nigeria's exports ​of gasoline, diesel, kerosene & jet fuel have ​risen to about 214k bpd so far in March from ⁠an average 100k bpd in Feb

Reuters

“ The Dangote Petroleum Refinery has successfully exported 456,000 tonnes of refined petroleum products through 12 cargoes lifted by international traders.

According to industry sources, the shipments, comprising Premium Motor Spirit (PMS), were delivered to multiple African destinations, including Côte d’Ivoire, Cameroon, Tanzania, Ghana, and Togo.”

https://nairametrics.com/2026/03/22/dangote-refinery-exports-456000-tonnes-of-fuel-to-african-markets/

SpencerForbes:
1.5 million with 3 girls He’s in Jos, so things might actually be cheaper there.

1.5 million is big money for 3 girls even in Lagos, Abuja and PortHarcourt

megawealth01:
It seems oil stocks MIGHT start rally in NGX?

With this Post from Trump, oil prices would likely rise on Monday and even further more on Tuesday because Iran would likely not budge before the end of the 48 hours

anonimi:
I see your nitpicking to use half truth to mask failure.

While there is some increase in dollar value from 2023, that is attributed to banks and insurance companies recapitalising.

The remarkable thing is that the market value is still far lower than what it was in 2014, the last full year of PDP prosperity era.

Almost every company you can think of have grown. The oil sector is better than it was in 2022. So is Dangote cement, BUA cement, BUA foods, MTN, Aradel, Seplat, you name it.

Note: Using the subsidized 460/$ in 2023, the market cap was $62 Billion. Today it is $95 Billion. That’s not a small growth in dollar terms.

If we use the parallel market rate of 750/$ in 2023, the market cap was $37 Billion as at May 2023. Today using the parallel market rate of 1400/$, it is $92 Billion.

From $37 Billion to $92 Billion in 3 years.

anonimi:
I see your nitpicking to use half truth to mask failure.

While there is some increase in dollar value from 2023, that is attributed to banks and insurance companies recapitalising.

The remarkable thing is that the market value is still far lower than what it was in 2014, the last full year of PDP prosperity era.

This is wrong. The market cap is currently 129.3 trillion naira which is $95 Billion. This is the highest it has been in dollar terms since 2007. Your AI or source is subtracting dollar inflation since 2014 and adding the difference to your 2014 figure. The ordinary market cap in dollars as at beginning of 2014 was $84 Billion. Today it is $95 Billion

OredoPikin2:
What do u guys really gain in lying to yourselves?
Why do u think u can use lies to convince person in this internet age

I will help u
U claim we didn't have 21 companies worth 1billion dols in 2023
Let me take u back to 2022
In 2022
1. Airtel worth ovet 12 billion dols
2. Mtn worth 13 billion dols


U can research the others yourself

This is from Gemini AI:

“At the end of 2022, the official I&E window rate was approximately ₦448 / $1.
• Valuation of MTN at official market : ~$9.75 Billion
2. Parallel Market Rate (Black Market)
The unofficial rate at the time was much higher, hovering around ₦735 - ₦750 / $1.
• Valuation of MTN at parallel market : ~$5.83 Billion”

Today, MTN Nigeria is worth over $11 Billion at both official and parallel markets.

anonimi:
What else is there to make of it than the worse economic conditions of the past three years, such that you need 9 additional companies to have the same capitalisation

I don’t understand your confusion. Exchange rate depreciated from 450 to 1360 (3.5 times depreciation) yet we added 9 more companies to the billion dollar list. That’s significant growth.

OredoPikin2:
Even u nor believe wetin u type

Research it my friend. Internet is free. Even at 450/$ in May 2023, we didn’t have 21 companies worth $1 Billion.

If I use 750/$ which the parallel market was then, we didn’t have up to 10.

The total market cap was 28.5 trillion naira as at May 29th 2023. That was $62 Billion (at official 450/$ rate) but a mere $37 Billion ( at 750/$ rate).

Today, at both the parallel rate of 1415/$ and the official rate of 1360/$, the NGX is above $90 Billion.

anonimi:
APC has failed …………….way more than PDP did.



I’m almost certain that the 24 leading companies on the NSE were worth more in dollars 11 years ago compared with today.

No they are not. The best we had since 2007 was in 2013 with total market cap at 84 Billion USD. The current market is already around 93 Billion USD.

CodeTemplar:
devaluation contributed in no small measure.

It has beaten devaluation already. Talk another thing.

OredoPikin2:
What is the worth in dollar?

If I kept $1500 in my account before tinubu govt which was around 700k then
From tinubu presidency, that money became 2m plus without doing anything.
I suddenly became a millionaire in naira over night 🤣🤣
Please stop all these propaganda
No magic happened, naira just lost value.
Simple as ABC

The worth in dollar also beats May 2023

Afrobasic:
Why not? When you devalue the currency more companies become trillion naira companies.

This is all semantics by the way. Just like saying Zimbabwean companies are septilion Zimbabwean dollar companies.

You can only fool the foolish.

In May 2023, approximately 12 companies on the Nigerian Exchange (NGX) had a market capitalization exceeding ₦460 billion ($1Billion)

As of March 2026, there are 21 companies on the Nigerian Exchange (NGX) with a market capitalization exceeding ₦1.4 trillion ($1 Billion).

Make of this what you will.

jevraj:
If we have our own crude and refineries, how does the Isreal_Iran war affects our petroleum prices

Oil is priced internationally except you subsidize it

IRAQI OIL PRODUCTION FROM SOUTHERN OILFIELDS FALLS TO 1.3 MILLION BPD FROM AROUND 4.3 MILLION BPD - THREE SOURCES SAY

Oil prices likely to begin above $96 per barrel (from $93 on Friday ) in a few hours.

For anyone interested:

Summary of oil Production Shares in Nigeria (Estimated March 2026)

Indigenous/Independent
~50%
Onshore, Shallow Water (JV Assets)

IOCs (Shell, Chevron, etc.)
~30% - 35%
Deep-water (offshore), Gas

NNPC Direct (NEPL)
~15% - 20%
Diverse Onshore/Offshore portfolio

Kuwait officially confirms it has cut oil production today.

Prior to the war, Kuwait was producing nearly 2.8 MILLION barrels of oil per day.

The dollar is strengthening and oil prices are now at $84 per barrel.

unite4real:
I am sure Bitcoin is aware of the conflict.
However it is currently trading below today's high of $68.1

Waiting to see Brent crude at $200 is not going to happen

Brent is $81 per barrel as at early Monday trading (12a.m). We’ll see how long it maintains such a high price.

Update: Now $79 and going down.

unite4real:
I am sure Bitcoin is aware of the conflict.
However it is currently trading below today's high of $68.1

Waiting to see Brent crude at $200 is not going to happen

We’ll verify what happens to oil in the next 6 hours

“Ship insurers are cancelling war risk policies and are expected to raise premiums by up to 50% from Monday”.

Hmm. Global trade may get a lot more expensive overnight which could raise the cost of a lot of goods.

Mpeace:
What is the difference between what they are doing and what Tinubu is doing to opposition. Is Tinubu not having peace?

Ahhh. I have done nothing to opposition oo.

“ Khamenei is dead. Good.

But I have family in Iran. My dad is there right now. And I'm not celebrating yet. Here's why.

Iran built the most layered contingency plan on Earth for this exact moment. Four levels of succession for every key position. Pre-authorized military strikes. Regional commanders who don't need orders from Tehran to act.

As you read this, there is already a new Supreme Leader. We just don't know who.

This isn't Maduro. The government didn't get overthrown. The system absorbed the hit. That's what it was designed to do.

Every credible intel assessment says the same thing: a post-Khamenei Iran is more likely to get harder, not softer. More IRGC. More dangerous. Potentially worse for the Iranian people than Khamenei himself.

Don't breathe yet. There's a long way to go.“

- Iman Jalali

IRAN has struck an oil tanker in the Strait of Hormuz, casualties reported

zendi:
Well, let's hope we don't hear in the coming hours the voice of a brand new supreme leader calling on the revolutionary soldiers to defend the revolution and fight on to the end.

If that happens, then the war is only biginning, until American and Israeli boots go in to phisically take over and install a moderate government friendly to Trump and officially recognising the Nation of Israel.

In this latter case, oil price will surge from Monday. As we speak, Iran has already closed the strategic Hormuz Strait.

But oil bull will be short lived as the tsunami of Venezuelan oil is around the corner under the management of American energy companies who know how to overproduce..

I saw somewhere that his son has taken over.