"Why would this guy reject an inducement to discredit Dangote Refinery with his pen when he has been a regular critic of Dangote, and he has even criticised the Refinery before?"
This question betrays a severe lack of depth and an inability to deal with even the slightest complexity where the real world is concerned. Some people think real life is like football where you pick a "team" to support through winning and losing.
In these minds, offering strident criticism of Dangote means that I have picked the "anti-Dangote" side, like I'm now supporting Chelsea, so I'm supposed to do nothing other than take the opposite side to Dangote on every issue because dealing with economics and geopolitics is like supporting a football team.
Very dumb!
First of all, my criticism of Dangote Refinery has always been about the timing of its delivery and the politics that made them "commission" it in May 2023, nearly 2 years before it was due to be fully operational. That was, and remains an entirely valid criticism.
Every other criticism I offered revolved around concerns of monopoly business practises and potentially turning Nigeria's energy market into a monopoly - which is also a very valid concern. Ideally, one entity should not control the energy market for 200 million people.
However where the choice presented is between a potential domestic energy monopoly and the imposition of eternal energy poverty and import dependence by foreign actors, which side do you think I'm going to pick? You think I'm going to campaign for the continued poverty of my continent for the benefit of some rich white guy, simply because I don't like Dangote?
Furthermore, you think as an educated person, I would EVER want a $20bn project - the largest single investment ever made in West Africa - to fail? What do some of you think this is? Manchester United vs Manchester City?
How did some of you even grow up and survive into adulthood without the ability to separate issues, assign priority and think in a straight line? More importantly, are you planning to breed?🤔 I hope not. We don't need more idiots on this continent. Lord knows we have too many already.
General Manager, SubSurface, Oando Energy Resources, Babafemi Onasanya... expressed that partnerships were not just critical, but essential to the development of the sector.
He highlighted the industry’s reliance on Joint Venture (JV) partnerships between operators and the Nigerian government, underscoring the importance of collaboration and shared goals.
“As more indigenous players take up prominent roles in the industry, they will need to secure key partnerships in critical areas for efficiency and sustainability.[i] [i]“The first necessary partnership is with financial advisors/offtakers to either fund the capital-intensive nature of the business, or to provide advisory to source and secure funding.[i] [i]“The second is a deliberate, engaging and adaptable partnership with host communities to encourage better dialogue and impact. Lastly, we need strategic partnerships with technology partners to address different areas of specialisation,”
ProphetUtuocha: UBA is a rare jewel. Of all one's holdings, never neglect this modern day gem! In due course, it will stand out among its peers and blossom like the stars!
With the scramble for capital, I do not believe they can source for the recapitalization funds (they need N151.8 billion to maintain the national banking license) through PRIVATE PLACEMENT. So I believe the merged entity will list...
* Modified
SonofElElyonRet: This is the first strong enough reason I've read to buy shares in unity bank...but upon acquisition (or merger), will the emerging entity be on NASD or NSE or simply choose to buy out unjty bank shareholders and be a private company just as providus currently is ?
yMcy56: In addition or alternative to Registering on Registrars portals for E-Dividend mandate, you can also register on the E-DMMs portal launched by SEC in July to mandate your E-Dividends.
Streetinvestor2: This one is making noise so that he can be added to the looting.He last week praised the 70% forex gain.He has direct access than many to balablu. He should help us as directly. He needs the oil well now.It is not easy for president to come to your house after winning election.That means you must have represented well
I love how you see the bigger picture. UNITY returning to profitability is solely dependent on sentiments not any earnings forecast. Where will they get the funds for operations to make any profit Current shareholders can enjoy a brief period of profitability IF the suspension is lifted before the 'merger' news/details is officially announced...
Nothing is 100% certain at this moment
Omooloriredade: If I'm not mistaken, your rationale for investing in Unity bank was because of your belief that the bank is on its way to profitability. Judging by the profit forecast released by the bank, we can safely assume this will eventuate.
However, I think you may be misinterpreting the Providus bank vs Unity bank "merger". Technically, the CBN has just bailed Unity bank or saved Unity from going under by selling it to Providus bank with some extra cash bonus to keep the enlarged entity going. Providus is the winner here not Unity. Enlarged entity is 80% Providus and 20% Unity. What is Providus history as a bank sef? Unity bank shareholders will be issued new shares equivalent to a quarter (or 25%) of the current value of Providus bank. I hope for your sake that CBN and Providus intend to have the enlarged entity listed. Otherwise, I'm not sure there is much to get excited about here. I'm just a bit confused about the excitement here. Maybe I'm missing something.
TOE is in the good books of BAT. What better time than now to declare interest in the lucrative oil wells...
Heirs Energies Oil Portfolio (TNOG Oil&Gas and Tenoil) currently operate OML 17 (27,000 boepd), Ata Field (3,500 boepd), OPL 218, OPL 2008. Imagine of TOE/HH had one oil well. JUST IMAGINE
Chairman of Heirs Holdings(HH), Tony Elumelu once said this about TRANSCORP's acquisition of 45% interest in OML17 in January 2021: “We have a very clear vision: creating Africa’s first integrated energy multinational, a global quality business, uniquely focused on Africa and Africa’s energy needs. The acquisition of such a high-quality asset, with significant potential for further growth, is a strong statement of our confidence in Nigeria, the Nigerian oil and gas sector and a tribute to the extremely high-quality management team that we have assembled. As a Nigerian, and more particularly an indigene of the Niger Delta region, I understand well our responsibilities that come with stewardship of the asset, our engagement with communities and the strategic importance of the oil and gas sector in Nigeria. We see significant benefits from integrating our production, with our ability to power Nigeria, through Transcorp, and deliver value across the energy value chain.”