₦airaland Forum

aswani:
A lot to unpick but know this and be wise, the Eastern Region is dead and will never exist.

The South East geo political zone is alive and well and that should be what Ndigbo focus on.

By the way, I am not sure Ndi Yoruba care that much about the East to want to tear it down. Please stop running, no one is chasing you.

We must not be dishonest with ourselves.

In the real sense of it, the Eastern Region is a recent creation of the British in 1954—read Max Siollun’s books. The present South-South region has been interfacing with the Portuguese since 1472.

The fact of the matter is that anyone pushing for a return to the Eastern Region is only after the oil & sea-Access of the South-South. What baffles me is how elementary this strategy is: it assumes the South-South folks are idiots who cannot see beyond their noses to understand that their interests are more likely protected either in Nigeria or as an independent nation.

happney65:
Story. 6 Govornors of the SW established the Amotekun force. It is only Lagos that doesnt have up till date one single Amotekun force. Why? Because you are afraid of your masters up north.

So why are you now trying to claim the success of Amotekun? When the state who's Amotekun is the most funded is Oyo and a state you people have so much atagonized

Shior

Where is the forest you want to man in Lagos?

Buccalcavity2:
Abi! Just like they threatened moody, world Bank, imf, JPMorgan for better rating....they even threatened multinationals to declare profit and threatened cbn to declare increased reserve and positive balance of payment.
Mtchew

Tenses:
This job wey you dey so go kill you soon.

Manners pls! If we start death wishing the opposition will cease to exist.

chimex38:
This shows the x3 to x4 is mostly tied to Institutional or HNI.
The shareholders spread is still very thin.

#Speculation
The OS despite being 120bn units and 4bn infree float, might definitely be very scarce upon listing and beyond.
Tilting towards driving up it's share prices.

👍👍👍

divine010:
Are you trying to make 124% look good like we should applaud Tinubu for a good job

people go to school, get Msc, phd and come to defend Tinubu economic crap ...

The valid scale is what Buhari left and where we are now, does it appear on paper we ascend or we descended to 124%

cos i dont understand the brain gynastics you brought into play it was irrelevant and immaterials

what 124% means is that for every 100 nigeria make we pay 124 to service debt ...what is there to make look good for heaven sake

Which position do you prefer spending 124% of your income to service debt or 156% of your income?

KarlTom:
Read somewhere that the offer is already 3x oversubscribed...

https://punchng.com/dangote-refinery-ipo-attracts-fourfold-subscriptions-offer-extended/

They have reportedly received 3–4 times their target, yet the offer remains open to the public—and the article is even hinting at potential listings on other African exchanges. What exactly is the plan here? Are they returning excess capital to investors, or simply collecting more money than they need? If they already have more than enough, why keep taking on more investors?

This is actually good news, but something doesn’t add up in the report. Federation debt service-to-revenue fell from 86% in 2023 to 38% in 2024, rising to 42% in 2025.

FG revenue grew 72% to ₦6.2tn in H1 2026, while interest payments rose just 37.5%. Consequently, interest-to-FG-revenue fell from 156% to 124%. That’s an improvement in FG’s fiscal position, not a deterioration.

Also, the 124% is against FG revenue, NOT total federation revenue. Context matters

lawani:
Would you agree that the fact that all neighbouring countries have stable electricity in their cities while Nigeria does not is enough reason to divide the country?

No, I do not agree with you. Would you agree that, despite all of them having stable electricity, none is as prosperous as Nigeria?

I know this might seem counterintuitive, but I do not think electricity is a major bottleneck for economic growth. It is largely a conquered problem at the individual level, just not at the societal level, for obvious complex political reasons—like the ideological difference between the South and the North, with one being capitalist and the other socialist.

Besides, I think power should be readily and reliably available in key economic clusters around the country in a few years from now.

truthera:
You call them idealists I call them realists…. How many Nigerians came together to form the 1999 constitution? Did the military government that handed it over, seek the people’s consent and input? The issue here is not about elites but justice, let the people decide if they want to be together or not through a peaceful referendum. Nigeria’s forced cosmetic unity will never bring about true progress for a people who do not share common values or want to be together….. Let the rights of those calling for a referendum to leave be respected. Nigeria will continue on a retrogressive path unless the 1999 constitution is dissolved and a referendum that will restore freedom to all indigenous people is achieved.

How many Nigerians came together to form Nigeria? And how many people came together to form your own tribe?

My point is that, at any point, if something were to start, certain people who have the authority will start it—not those without authority. What truly matters is not how it started, but how it is faring today and how we can make it constantly align with the most ideal interests of the majority.

I see all this constitutional change talk as a bloody waste of time when we have more pressing issues, especially at the local level, that require immediate attention. But I guess shying away from responsibility by calling for the improbable is a more efficient use of time.

I’ve always found the school of thought that Nigeria needs to be divided for progress to happen really idealistic. A lot of the people who believe this can’t see beyond their nose. The divided units would still be run by the same Nigerians who already run their LGAs and states, largely with little to no progress. So how do these idealists think the same Nigerians will magically become super effective once the country is divided?

Every society will always have elites. You could balkanize Nigeria into 100 units, and each one would still have a tiny minority controlling the majority—often in their own selfish interests. These are the same idealists who keep parroting “death to the 1999 Constitution,” as if any new constitution wouldn’t come with its own flaws.

Dupeodus:
I stumbled on the below which corroborates your post here. The challenges are clearly there. I give kudos to the efforts. We'll see how it goes

Nkanu Eja That conclusion ignores the engineering realities of the route. The highway does not stay directly on the coastline even in parts of Lagos, Ogun, and Ondo because the coast is broken up by lagoons, creeks, estuaries, and river channels. Building along the shoreline would require countless bridges and significantly increase construction costs and environmental impacts.

The same challenge is even greater in the Niger Delta, where the coastline is intersected by numerous rivers and wetlands. That’s why the alignment moves inland in parts of the South-South. A coastal highway does not have to run beside the ocean for its entire length to serve the coastal region.

If your concern is whether the South-South sections will be completed, that’s a valid issue to raise. But claiming the project is simply a “Yoruba agenda disguised as a national project” is a political opinion, not a conclusion supported by the route’s engineering or the published plans.

It seems like there was no scope or cost assessment before they started the project. I understand it’s being done in sections, but that’s still no excuse. The real issue is that things like this only deepen people’s distrust of the government.

givedemwotowoto:
The race to Aso Rock 2027 is clearly between Peter Obi and Atiku

Tinubu will come third as predicted by El-Rufai

Whatever Tinubu does now to win votes, people won’t trust him because after the election, he’ll reverse it and continue in his heartless clueless ways.

Why do you think PBAT only responds to Atiku?

heykims:
Nigerian politicians and their shenanigans, zero ideology.

Not all Nigerian Politicians and not peculiar to Nigeria alone.

rhythyson:
This is a reckless statement nah

you don't need to tag someone mad because they don't share your dream

Amechi haba nah

He's obviously not interested in winning elections.

mikeapollo:
Is this not the same as subsidy?
A govt that speaks ftom both sides of the mouth.
And some people here would be defending them senselessly telling lies and giving excuses.

As long as there’s no direct cost to the FGN account, what I see here is similar to tariff regulation with the telcos—unless the argument is that we’re subsidising telcos at their current regulated rates.

But ultimately, we may be sacrificing stability for growth. What happens if oil goes to $150? This framework may no longer be feasible.
A more realistic solution is for the FG to double down on CNG and EVs. We can set a 2028 target for all transport vehicles to transition to CNG or EVs, while providing single-digit, ring-fenced financing for transporters to convert their existing vehicles or purchase new ones.
This is an opportunity not just to formalise the transport sector, but also to completely change its face.

presiade:
The FG is offering a 30-day PMS discount program at NNPC stations.

https://www.nairaland.com/8762440/federal-government-announces-30-day-discount

Lead opposition candidate, Atiku, fires back:
https://www.nairaland.com/8762486/tinubus-30-day-fuel-discount-election

Price modulation is not new—telco’s rates has been modulated till date.

lawani:
You can't pay anybody in a private company without paying the owner. A public company has owners too and it should be the same way. What makes sense is that you shouldn't be able to pay owners automatically the same amount you pay the workers but to not pay them at all would be unfair. What is automatic for public company shareholders should not be more than one third of the wage bill.
However it is a personal position and not law in any country

The idea is an upgrade of the stock exchange
Remember you being able to invest at all in the stock exchange is because of a thinker not because of people following Laid down rules.
It is already what some companies do by paying interim dividend before the main thing

This isn’t correct. An employee’s contract is different from a shareholder’s, whose returns are subject to the availability of profit. From a financial-engineering perspective, it’s entirely possible for a company to keep declaring losses while still making profits. Besides, if we apply your logic, most tech companies would be owing their employees.

ghm:
Salient point, you raised, here are my findings based on your post.

Looking at Oando's footprint—the company's premises, events, management and staff, buildings, offices, cars, planes, etc.—you will see an extremely successful and affluent company, with no visible traces of a broken balance sheet. Oando is being kept afloat by a legal guarantee from its majority shareholder, an aggressive debt-restructuring plan, and the sheer scale of its assets. But that lifeline has an expiry date, and it is not a long-term solution.

What's Keeping It Afloat Right Now

1. The OODP Letter of Guarantee
The primary lifeline is a Letter of Guarantee from Ocean and Oil Development Partners (OODP), Oando's majority shareholder. It is valid from 25 March 2026 to 25 March 2027. It commits OODP to support Oando so it can meet its financial obligations as long as liabilities exceed assets. The critical caveat: the evidence of OODP's net worth backing this guarantee has not yet been independently verified . This is not a cash injection; it's a promise from a related party.

2. The Recapitalisation Plan
Management has a three-part plan approved by shareholders: a N500 billion capital raise (first tranche N220 billion rights issue awaiting SEC approval), conversion of up to US$300 million** of Reserve-Based Lending debt into equity, and a **US$1.5 billion multi-instrument issuance programme .

3. Operational Cash Generation
Oando is not dead operationally. H1 2026 production averaged 42,789 boepd, up 16%, with production opex down 18% to $16.83/boe . It ended H1 with N544.92 billion in cash . Operating profit was N127.84 billion, a turnaround from a loss .

How Long Can It Keep "Selling Hope"?

The honest answer: until March 2027, when the OODP guarantee expires.
After that, the company's survival depends entirely on whether the recapitalisation plan succeeds. And there are serious doubts:

Negative equity persists: Total equity was negative N530.45 billion at H1 2026 .
Finance costs exceed operating profit: H1 2026 finance costs were N167.58 billion against operating profit of N127.84 billion . The company is not earning enough to cover its debt servicing.

The "profit" is not from operations: N104.44 billion of operating profit came from other income and impairment reversals—not from selling oil or trading crude .

Shareholder governance challenge: A shareholder has formally challenged the US$434.5 million receivable settlement and the proposed rights issue, raising questions about related-party transactions and dilution, with copies to the SEC and CAC .

Could Seplat or Aradel Acquire Oando?

This is speculative, but here's the context:

Seplat is the largest indigenous producer, targeting 200,000 boepd by 2030, with net debt reduced to $370.7 million after repaying $200 million . It has the balance sheet and the operational credibility.

Aradel ended H1 2026 with N1.72 trillion in cash, the largest of the three, and has been on an acquisition spree, consolidating ND Western and taking a majority stake in Renaissance Africa Energy.

Oando's appeal: It holds the largest indigenous reserves and has completed the NAOC acquisition, adding significant Niger Delta acreage .

An acquisition would be a massive undertaking, given Oando's N2.42 trillion enterprise value and N2.70 trillion in debt . But it would be a logical consolidation play for a cash-rich Aradel or a strategically ambitious Seplat.

Bottom Line
Oando is surviving on borrowed time and a shareholder guarantee. The operational turnaround is real—production is up, costs are down—but the balance sheet is still broken. The "hope" being sold is that the recapitalisation will fix it. The risk is that the March 2027 guarantee expiry arrives before the fix is complete.

OODP = Wale & co through Whitmore Asset Management Limited; he will simply renew the guarantee before march 2027.

Kukutente23:
Ignorance is dangerous
The idea behind Tinapa was to diversify the state income after the SC judgement ceding cross river oil wells to Akwa Ibom and bakassi was also lost to Cameroon.
If the governors that came after him were responsible, Tinapa would gave become a revenue generating venture for the state but today, cross river does not have any revenue generating outfit outside of the FAAC due to his incompetent successors.
Meanwhile, Duke also started calabar carnival and Obudu cattle ranch as additional revenue generating ventures. How are they all doing today or you're still going to blame him for those ones too?

Who is being ignorant here? Was spending $350* million in public funds on Tinapa a judicious allocation of resources for a poor state like Cross River?

Kukutente23:
What is the relationship between foresight and your lies

Foresight would have shown from the outset that the venture was never viable; you can’t use government revenue to subsidize tourism in a poor state—such projects will never stand the test of time.

Kukutente23:
You don't need to start your attack with lies
Tinapa was functional as at the time he left office

What do you think foresight means?

Misterone:
Thank you for this statement! Most people think Nigeria owns 100% of its crude oil hence they always calculate the funds and other benefits based on that! Of the 1.5 million barrels we produce, our share is about 800 to 900 thousand barrels. What this means is that subsidising the product at even 50% will lead us to borrowing to pay for the product.

That excludes production tied to output that must be directed to the lender, as we have taken loans against it

bixton:
What do you mean by the bolded?

NNPC is in Joint-venture with the oil companies so daily output is shared by both parties,

This one’s a joke of a candidate—how exactly does he plan to bring fuel down to ₦300? Does he think Nigeria owns 100% of its crude, or is he ready to forfeit crude revenue and run the federation aground, just like he did with Tinapa, thanks to his zero foresight?

“Healthcare is not a luxury. Survival should not depend on geography or income. Cancer care should not be a privilege—it should be a right.”

Yet, under the same person, public health facilities were shut down for many months. I guess healthcare was a luxury then, but not now.

Daguccizgreat:
Your region is the only place where fraudsters and drug dealers are made leaders. Have some shame dude

I am not sorry. I would rather have no shame and developmental projects, such as ports, that continue to bring prosperity to my people than possess all the shame in the world while remaining unable to attract such prosperity. At least, there would be some hope for my people—even the drug dealers and fraudsters.

DickenClarq:
My dear brother,

I am not one of either the brainless Tinubu supporters of incompetence or a card carrying member of the Online terrorist Obidient cult group.

I am a Nigerian and Nigeria come first before any individual, political party or group. Please search for your political cult rivals and face your missiles in their direction not me BIKO!

Also 3 days mourning is not enough for your incompetent President to give, he should go and do what Peter Obi the habitual liar did.
He should physically go and pay condolences to the NAF and also the deceased families that is what a good leader should do. GESKIYA!


May God help us

Patriotism mixed with lies and half-truths is nothing more than hypocrisy. You should have the human decency to admit when you have shared false information. That is what decent and genuinely patriotic people are expected to do—not deflect when caught in a web of lies.

Daguccizgreat:
I guess the visionary leaders you mean are folks like Tinubu, Abiodun and Co who are associated with criminal groups involved in fraud and drug dealings. Ozuor

As tainted as they may seem, they’ve just pulled a port into Ogun State—something none of your so‑called angels has been able to do so far.

Did this report factor in that retail PMS prices have jumped 40%+ since January 2026 and diesel is up almost 100% in the same period, yet inflation has stayed largely flat around 15%?

Even more interesting, the cost of borrowing has just been lowered, as if the pass‑through of the PMS and diesel price surge into actual prices has been flat.

Could this be because the pass‑through effect has weakened, or is it a function of higher CNG usage (and other substitutes) cushioning the inflation impact?

We need to pin down the real reason for this seeming anomaly.

DickenClarq:
Dear Nigerians is this not what the president of the federal republic of Nigeria should be doing?


Up till now no official statement or even a tweet from incompetent Tinubu and his government (Or I missed it).

He should be the one doing this visiting immediately, But he is somewhere in his house receiving a back massage from Remi Tinubu.


Good job Mr Peter Obi


May God help us

I know your ilks like talking before thinking otherwise you’d have bothered to validate this lie. Or is it your principal that declared 3 days of national mourning?