₦airaland Forum

Ding

You already addressed it succinctly

chimex38:
I believe older refineries maintain and upgrade from time to time to still be in business with compatible technologies as time goes on.

the way I see our refineries now(assumptions):

NEW HOUSE(5-7yrs)
Cost of building a new house--₦20m.

EXISTING OLD HOUSE(2-3yrs)
cost of renovation of old worn out house -₦15m.
*Upgrade with 21st century Technologies -₦7m.

*=>upgrade isnt guaranteed to be a seamless integration and compatible with very old functional mechanical equipments.

hitches and glitches here and there affecting operations.
Therefore to upgrade means to get a total modern equipment overall that integrates with IT tech upgrades.

More like try upgrading an Android 4.0 device to Android 16?
It's not gonna work. OS alone with eat up the entire storage system of any phone in that era of 4.0.(if it enters at all )
The versioning is so wide apart.


Even whatsapp and other techs stop upgrades to older software versions from time to time. They don't keep integrating.
Meaning?==> get a new phone.
So sell-off the Refineries.

I believe the former NNPC Govt knew this. Hence the new PH refinery being built beside this rusticated one.

Age, a major criteria, is relative.

We've already spent more than it cost to build Dangote Refiney from the scratch.

Those refineries you're referring to have been upgrading their systems over time so the maintenance doesn't break a sweat.

It's like trying to upgrade the OS of an Android 3 device to Android 14...

mikeapollo:
A lot of refineries around the world are older than our refineries and they are still functioning and producing

GeneralDae:
Exactly. I don’t think the old age is the problem. I think the fact that some of them have not been operating for decades is the problem. The longer a refinery (old or new) stays out of operation, the more difficult it is to revive it.
Refining is quite complex.

Refining technology has moved on.
Even the spares of some installations will be difficult to get.
The efficiency is also a concern. etc

After spending billions of greenback on botched maintenance, I think we all know the answer...

mikeapollo:
Is it not possible for the refineries to be retrofitted or re-engineered to work properly?

We are together...

Streetinvestor2:
This bot has banned and unbanned me like 5 times for reasons I don't even understand

Mikeapollo

I recall several British and German engineers who I worked with in the last few years of proper refining at WRPC and I can tell you for a fact that those refineries, in their current state, are full scale liabilities.
Over ₦20trillion has been spent on rehabilitation or/and maintenance since 2010 with little or nothing to show.

That's enough to build a Dangote Refiney with some change...

mikeapollo:
Correction:
Those refineries are assets, not liabilities.
Anything that has value and would give you money when you sell is an asset
They have become "liabilities" because of our corruption, mismanagement and probably incompetence.
Those refineries would work perfectly if the original builders ( i.e. foreign engineers) should take over and run them.

No sir!
There's no agreement in place...yet

SonofElElyonRet:
If a new government revokes the agreement then they'll pay heavy damages..

The opposition already won the General Elections (26 of 41 seats).
Ironically, Mr Stuart Young (who assumed the office of PM shortly before the GE) was the Energy Minister who approved the OandO bid.

I'm closely monitoring news from that side...

mikeapollo:
I am referring to the potential issues of corruption, conflict of interest etc and how Oando may never be able to convince the populace and potential foreign investors that the deal was transparent, fair and above board .
And it could be revoked by a future president.

The refinery in far away Trinidad and Tobago is even generating a similar problem because the opposition party has already threatened not to recognise the deal when they come to power i.e they may revoke the deal

I think we're mixing this CGT up.

Scenario A:
I have a portfolio size of ₦100m and it appreciates to ₦250m (due to SP increase & zero trading).
Scenario B:
I have a portfolio size of ₦100m and it appreciates to ₦250m (due to SP increase & aggressive trading).

IMO I think it's Scenario B that is being taxed rather than Scenario A.
I'm open to more insight

EDUECO:
If you account grew from 50 to 300 million Naira within a year,you have invariably made a profit of 250 million Naira.

I believe the 75 million Naira tax due to the government will be debited against your trading account. .

It's the refineries that are likely to be sold NOT the entire NNPCL

IMO, the refineries are a hole in the pocket of the FG & NNPCL

mikeapollo:
There is no amount of open and transparent process that would convince the Nigerian masses if Tinubu should sell a national asset like NNPC to Oando, a company owned by his nephew.
The critical importance, controversies and corruption around fuel and petroleum products and the ignorance about business and corpotrate governance in Nugeria is too much.
Oando should not even bother to put in a bid if they love themselves.

Reduce the volume o...

Raider76:
Me, I will predict that this Government will sell its refineries in 2026, and Oando will be a buyer.

Reduce the volume...

Raider76:
Me, I will predict that this Government will sell its refineries in 2026, and Oando will be a buyer.

- NNPCL to list on stock exchange by 2028
- NNPC may sell refineries.

Mr Bashir Bayo Ojulari, GCEO NNPC Ltd @ 9th OPEC International Seminar Vienna, July 2025

BM/AGM DATES

11-Jul
BM (GEREGU, LIVINGTRUST)
18-Jul
BM (LASACO)
21-Jul
AGM (BUACEMENT)
BM (LAFARGE)
22-Jul
BM (ABBEY, BERGER, DANGSUGAR, RONCHESS,TIP)
23-Jul
BM (GUINNESS,)
24-Jul
AGM (CHAMS, ETERNA)
EGM (CHAMPION)
BM (CHAMPION, IB, TRANSCOHOTEL, UNILEVER, ZENITH)
25-Jul
BM (BUACEMENT, DANGCEMENT, ETI, MEYER, NEIMETH, SEPLAT, TRANSPOWER, VITAFOAM)
EGM (ELLAHLAKES)
28-Jul
BM (CAVERTON, CUSTODIAN, ETERNA, FCMB, HMCALL, JAIZ, M&B, NESTLE, OMATEK, TRANSCORP)
29-Jul
BM (CADBURY, CORONATION, HONEYWELL, MBENEFIT, MECURE, MTN, NAHCO, NASCON, NB, NEM, NPF, SUNU, STERLING)
30-Jul
BM (ACCESSHOLDCO, BUAFOODS, FIRSTHOLDCO, MANSARD, MCNICHOLS, MRS)
AGM (MCNICHOLS)
31-Jul
AGM (LINKASSURE,)
BM (GTCO, VERITAS)
7-Aug
AGM (MBENEFIT)
BM (FIDELITY)
11-Aug
AGM (OANDO - 10:00hrs)
EGM (OANDO - 14:00hrs)
13-Aug
AGM (CORONATION)
19-Aug
AGM (PRESCO)

megawealth01:
Let the best candidates WIN

Mr. Mahmud Mohammed Bamaga Tukur of Ashgrove Group joins the Board of ARADEL

This man

Agbalowomeri:
Omolanke

ARADEL. -0.09%
CONOIL. ±
ETERNA. +1.22%
OandO. -4.61%

Let me interprete:

Take profit from feranjeko stocks and move the loot to fundamentally sound stocks...

megawealth01:
I repeat target FUNDAMENTALLY SOUND STOCKS and secure your loots

Bull Surge Detectors ?

HesInMe:
Guilty as charged.

Pessimists are good investors na. We have a good BS detector. In a bull market, everyone and their mother are sharp money-doublers. It's when the market pulls back violently that we see whose yansh dey exposed.

Happy hunting!

zendi:
Is it the Oyibo name Hewett Adebonson Benson you're spelling like that ?

A publicly-listed entity with SEC approval?
Or is there something I'm missing

HesInMe:
Honestly, there are some stocks that shouldn't be promoted to the general public. VFD is one such.

It's like a hybrid between private-equity firm and a merchant bank. They have some glitzy marketing, but I guarantee that 99% of people here can't properly value this stock: Most people don't have comfort with concepts like "expected credit losses" and "impairment of goodwill," which are key to the value of VFD.

Leave this one to the investment pros. Simpler ways to make money and sleep well.

Peak. Median. Trough

otokx:
It appears prices have started falling

CORDROS has sent three (3) reminders

We still have 2 weeks to the EGM...

Maybe na you be the Jonah...

Pete002:
Be like I go off this Trascorp and Ucap bus wey I dey, bus no wan full to move

Every mallam to his kettle ...

Is it necessary to mask the ID?

https://x.com/UEkperedem/status/1941927592484909249

PuristForest:
i saw this tweet and thought this was hilarious, someone bought oando 20 yrs ago and he still in a lost as at today, is that even possible.....

SP was about 200 at the time

SonofElElyonRet:
Just discovered that VFD paid N7.89 dividend for 2022 year end! 2021 was N10.79. 2020 was N8.51. May the good times return

Ding

You mean Mr. Hewett Adegboyega Benson is white?

abuhusna1:
The only reason I wont belief Ellah lake is function from that hut head office is the recently signed white man.