₦airaland Forum

Streetinvestor2:
Why are all this guys waiting till last minute to release results. It is making the market dull

Bagwa:
President/CE of Dangote Industries Limited, Aliko Dangote, (left) in Gabon on invitation of the President, Brice Oligui Nguema (right) to explore investment opportunities in Cement and Fertiliser (Urea and Phosphate). #DangoteFertiliser #DangoteCement

Foodempire:
Do we have anyone here that bought MTN CP series 9, the maturity date is on the 31st July 2024. I was contacted by email to provide my TIN and tax payer ID's for the WT to be deducted , this I never expected or informed earlier.

I wanted to ignore the request because I don't have the TIN and Tax ID but I know I won't be getting my money back on the maturity day if I do.

What is the likely % for the WT? How can I generate the info: TIN tax ID's? Thanks

SonofElElyonRet:
this was 9.59am.. doesn't count.. @dapix beat you to it today..

BullBearMkt:
Akinwunmi Adesina wrotes:

This whole issue on Dangote is shocking and creating bad waves for Nigeria globally. - Akinwunmi Adesina

Monopoly often exists where there are high barriers to entry or high capital costs.

How many individuals or companies can do railways? How many can do refineries of the scale of Dangote Refineries?

In a nation that has been importing refined petroleum products for several decades, the abnormal simply became very normal.

No smart investor would make a $19.5 billion investment and want it to be undermined by importers.

To manufacture is extremely expensive and risky. This is even more so in Nigeria, given the very challenging business and economic environment, fraught with policy uncertainties and policy reversals, and where the self-defeating default mode of “simply import it” is always so easily rationalized and chorused to solve any problem.

Competition is good for everyone. But is Dangote refineries anti-competitive? What is the evidence?

Has Dangote refineries prevented any other company from setting up refineries? Why have others not done so? How come they have not done so for several decades? Was it Dangote that held them back?

But Dangote refineries surely cannot be asked to ‘compete’ with importers of petroleum products.

That is not competition. Let the importers set up local refineries and compete by refining in Nigeria. That is fair and justified competition.

We cannot and must not undermine, disparage or kill local industries, talk less of one that is of this scale — a jewel of industrialisation in Nigeria.

It is more than simply delivering the cheapest product to the market. It is about domestic supply security, driving (and yes, protecting) globally competitive industries, maximizing forward and backward linkages in the local economy, job creation, reducing forex expenses and shoring up the Naira.

We must not be myopic.

This whole disparaging of Dangote is uncalled for. It is self-defeating. And it is very bad for Nigeria. Who will want to come and invest in a country that disparages and undermines its own largest investor?

Investing is tough. Pettiness is easy.

It sadly sends a signal that the price for sacrificing for Nigeria is to get sacrificed.

Akinwunmi Adesina

dapix:
Ding!!

Oke700:
Terra online business
At terra we buy and sell the following
-USDT
- Toncoin
-bitcoin
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Message me on 08128724711 on WhatsApp

Ginalex:
Is it my App? Or Nascon has no trading activities going on?

toyeoye:
This one don pass Dangote! He is ready to throw in the towel.
#15bn refinery about to go to waste...
Ajaokuta comes to mind

Choiceguy:
It seems I missed the class

mikeapollo:
I am expecting Oando to drop further.
Reason: In recent times, there seems to be some forces that pull back the price so they can mop up as much as possible.
I also want to buy, so the lesser it gets (in the shortest time), the better for bargain hunters like me.

Picky1:
Naija and it's people...always one step forward and two steps backwards

Anyways, we must all beware of, "The danger of a single story"!

I will rather we discuss - UCAP/CUTIX - interim div and bonus and leave politics to the greedy poli-thieves who have never added any value.

Hogwarthtrades:
it's hard to take people tweeting about IBETO when it is clear it was a rebagging factory. On the long run the government of the day will favour an industry builder and give necessary support to such vs an importer. That is how behemoth industries begin and bolster.

Hogwarthtrades:
I skipped 1-4 considering i can't speak for the whole country. I am also not a spokesperson for Dangote cement.

As for number 5. I will only speak on the misrepresentation of fact the NMDPR official ought to be fired for the misrepresentation of facts . If you state a refinery is at 45% capacity and no license in one breadth, he knew what he was doing. By sheer reasoning / deduction, refinery full utilisation takes months ~ 6- 18 months (depend on country and regulatory bodies).

The reason for such high level of impurity may be due to some sections of the distillation process not working (by omission or commission). One thing we can attest to is that Dangote group can be shrewd af when it comes to his competitors, but will never short change on quality except for payments as alluded by BUA group in his early days

If the allegation of suspending importation of AGO and the like was requested to favour the refinery at the detriment of the country is true, that is a d*ck head move by the dangote group.

ositadima1:
I am really interested in this Ibeto story because it's always quoted by people against Dangote, in addition to his perceived monopoly. If the government decided to ban cement importation in favor of locally produced cement, and Dangote happened to be the largest producer (he was not the only producer at the time), how is this unfair? I don't know how people think sometimes. We are here crying over hyperinflation and high cost of things, but at the same time, we want to be importing everything. We are not serious yet.

If it's true that the sulfur concentration is high, it can be desulfurized. A multibillion-dollar refinery must have a desulfurization process; it will take going through the process a couple of times. I think it is more of a cabal trying to fight back. The funny thing is that petrol is in high demand, and if Nigeria doesn't want Dangote's petrol, he can easily sell it elsewhere.

No complain when that happens.

zendi:
Okay, KarlTom, if I understand this;
You pump baby steps petrol into your tank;
All in the name of import substitution nationalism;
And your car starts doing baby steps along the road;
Is that what will take Nigeria to the promised Land?
A car doing baby steps along the road?

Standards, upon Quality, from day one!

Mpeace:
I am only surprised dangote refinery has not responded to that allegation. I doubt if we are in any position to defend the company if they have not refuted the claim.
What if they acknowledge it to be true.
A govt agency cannot come out with such claims without reason.

megawealth01:
Monopoly is a game and this FG knows how to play it... What happened to IBETO back in the days?

All Nigerians need is quality sha no matter where it comes from

Omooloriredade:
Bro, in my opinion that is factually incorrect. My understanding of the situation is different.
Disclaimer: In the future, if it turns out I was wrong, I apologise now o

The process in no particular order is as follows:

* Development of scheme document - Achieved
* Submission of scheme document to SEC - Achieved
* Approval of scheme document by SEC or receipt of SEC "No objection" - Not approved yet
* Court sanction of scheme document - Not achieved yet
* Court ordered shareholder meeting - Not achieved yet
* Approval of scheme document by shareholders - Not achieved yet
* Commencement and completion of offer to shareholders - Not achieved yet
* Court sanction of transaction as per terms of scheme documents - Not achieved yet
* Delisting from NGX - Not achieved yet.

And NO, it doesn't depend on Wale either. Particularly, for him, it is a bit complicated. He has had a bitter clash with SEC in the past which was settled out of court eventually. Based on his antecedents, I don't believe SEC will approve the Scheme document as it stands especially not at such ridiculous terms. Literally, they were hell-bent on booting him out of office. SEC is the bottleneck in the whole process.

Refer to link below for the process and why he has not been able to produce the document the court requested. He doesn't have it yet. It is as simple as that. He is not the one stalling.

https://www.oandoplc.com/press_release/oando-plc-announces-proposed-scheme-of-arrangement/

"Consequently, we confirm that Oando has applied for the SEC’s ‘No Objection’ to the Scheme. Please note that the effectiveness of the Scheme is subject to the approval of the shareholders of Oando at the Court-Ordered Meeting of the Company, as well as the sanction of the Federal High Court. The terms and conditions of the Transaction will be provided in the Scheme Document which will be dispatched to all shareholders following the receipt of an order from the Federal High Court to convene a Court-Ordered Meeting. If the conditions of the Transaction are satisfied and same is sanctioned by the Federal High Court, the Company will be delisted from NGX and JSE and re-registered as a private company."

I hope the parties go back to the court and be like sorry oga judge, it's now a family matter. We will settle out of court.

My position on recent trading in the shares of Oando: I believe it's still a case of buying the rumour. News submitted to the NGX is the factual news not what is reported in the newspapers or online media. I'm not saying they are inaccurate but the market will attach more substance to news released on it's platform. Unfortunately, the signing ceremony for the NAOC deal is still pending so until then, completion of the deal can't be deemed official . I believe this is the reason Oando is yet to report this development. Same reason the JSE is yet to respond (no official news yet). This could be a major price catalyst once officially released.

ALL in my opinion

ProphetUtuocha:
July 11, 1023: