₦airaland Forum

https://twitter.com/donlemon/status/1825960556358152693?t=BfhOTuspNOvmlIoMFqNvAw&s=19


This election nor go easy for Democrats sha.

Hmmm

https://twitter.com/BusinessDayNg/status/1826601628037726356?t=awcrT90dFLucrLs7tHbflQ&s=19

Tinubu is fixing a nation that is 90% dependant on importation by encouraging more importation of food.

Instead of fixing the agricultural sector and solving the security crisis.


What a wonderful day.

Which is it the man stands for? 😁

BlueRayDick:
Yet he supports Tinubu’s government’s 70% windfall tax on banks 😂

Udonmeanittt

On a lighter note😂😂

Once again

Wahala dey


"Again, here are the facts…
One, in 2022, NNPC told us they acquired OVH. According to them, OVH has over 300 filling stations across Nigeria and beyond (including Togo).

Not that all Nigerians swallowed the lie “hook line and sinker.” Thinking Nigerians doubted how this was possible considering that Oando just founded OVH in 2015.
Two, the NNPC limited vs OVH deal was wrapped in top secret. In fact, it’s so secretive that the Executive Vice Presidents of the NNPC are said not to know the details.
Here’s what a top official of the NNPC told PremiumTimes, during their investigation, “This is one of the most shady deals ever in the oil industry globally. Not even the executive vice presidents of the NNPC know the details of the acquisition.”
Three, OVH has just 94 filling stations, as exposed by NNPC officials - against the claim by Mele Kyari, NNPC MD, that they have 300.
Again, don’t take my word for it. Here’s the revelation from NNPC staff, “only about 94 stations are OVH owned; over 100 stations were leased while others are affiliations.”
PremiumTimes, equally, confirmed the truth from two other officials. They all say that “NNPC’s claim of owning 300 new stations by acquiring OVH was false.”
Four, Huub Stoksman, an expatriate and former Chief Executive Officer of OVH Energy was appointed to head the NNPC Retail (Limited). Also, former Chief Operating Officer (COO) of OVH Energy, Mumuni Dangazau, took charge as NNPC MD’s Special Adviser Downstream.
You wonder, where in the world a company would “acquire” another company (which is making loss and may even fold) and, rather than appoint its officials to head the affairs of the newly “acquired” company, it goes on to appoint the past managers of the newly “acquired” company.
Well, NNPC is the first and leading example.
Five, NNPC officials had their jobs threatened as officials from OVH were taking over their jobs.

For instance, the appointment of Mumuni Dangazau, who’s former OVH COO, rendered useless the Executive Vice President (EVP) Downstream of the NNPC, whose office ordinarily oversees NNPC Retail.
Six, Huub Stoksman, who’s former OVH CEO and now MD of NNPC Retail, set up a management team for the NNPC Retail and over 75% of them were OVH Staff. The remaining (less effective) positions were shared to NNPC in-house staff.

A top staff of the NNPC even questioned “Did we acquire them or did they acquire us, how come they are now the ones in the management.”
Seven, it’s not just the management of the so-called “acquired” OVH taking over NNPC Retail that’s the issue, shortly after, there was a location change.

On 5th June, Stoksman summoned a staff meeting and announced that the headquarters of the NNPC Retail would be moved to Lagos, which is the headquarters of OVH.
Eight, just so we are clear, NNPC retail, which was established in 2002, by Obasanjo, took charge of the downstream (refining, distribution of petrol) sector with just 2 filling stations that year.

But by 2021, they had over 550 filling stations across Nigeria and beyond. So, how does it make sense that it will “acquire” OVH which has just about “94 filling stations” and OVH will take over its management?
For its management to be taken over by the OVH management, and its headquarters to be taken to Lagos, it points to just one thing - that OVH is in charge of the NNPC Limited!




Hmmmm
We wait

Wahala dey oo


“Former Vice President, Atiku Abubakar, has said President Bola Tinubu has effectively mortgaged Nigeria’s future to himself, his family and associates to an extent that even after he leaves office, it would be nearly impossible for the nation to break free from his shackles.

Atiku, who was the Peoples Democratic Party (PDP) presidential candidate in 2023, compared Tinubu’s integration of his business interests into Lagos’s public enterprises to his efforts at the federal level in a statement yesterday by his media office in Abuja.

Atiku said: “Just as Alpha Beta, Primero, and others act as Tinubu’s proxies in Lagos, managing critical sectors and generating revenue for him and his family, he has begun to replicate this at the federal level.”

He expressed astonishment at the operations of the NNPC and how the government-owned oil company had put its retail arm under the control of OVH, a company in which Oando, led by Wale Tinubu, owns 49 per cent.

The Turaki Adamawa expressed regret that his intention to privatise the NNPC and increase its transparency has been overshadowed by what he describes as criminal hijack of NNPC by corporate cabals around the current president.

He further said, “In October 2022, just five months before the elections, the NNPC Retail controversially announced it had acquired OVH and all its filling stations. NNPCL already had about 550 filling stations across the country but claimed it was enhancing its capacity by acquiring OVH, which had only 94 stations and 100 others leased.

“The NNPC did not disclose the purchase price of OVH or the terms of the acquisition. A Freedom of Information request by Premium Times was also rejected by the NNPC, which claimed to be a private company despite still being government-owned.

“Following this dubious deal, Mele Kyari was controversially retained as NNPC GMD despite his incompetence. Tinubu then appointed his former boss at Mobil, turned ally, Pius Akinyelure, as NNPC Chairman, while he himself took on the role of Minister of Petroleum.”

Visit guardian.ng for more.

#Atiku #Tinubu #News #Nigeria

Na fvck me😂😂

izzou:
[color=royalblue]Which kind petty move be this?

I can bet it will be the blacks amongst them.[/color]

We dey on our own, you come find angry people trouble.

God help them

OasisX:
......if you are a bolt driver, make sure you call direct line of rider before you start the trip for rest of this week.

You don't wanna drive to the destination simply to burn your fuel and time for cruise/nothing.

Those SA guys go tire.
They started this trend against Nigerians

"We will delink revenue from expenditure"

Na tinubu is a mad man😂😂😂

Amigoss:
Despite international sanctions, Statistics had shown that the economy under Abacha thrived, but na statistics we go chop?

Could it be because he damned the economic prescription, interference & neo-colonialist overtures of the west something similar to Ghadaffi, though both of them were not perfect,Hmmmmnnn...

Nigeria never recovered from SAP program introduced by Babangida which was the prescription and advise from IMF to woo foreign investors..

Lmaooo I thought Abacha did not care about fx.

If them born your papa well, declare black market rate that time nau

izzou:
[color=royalblue]Exchange rate[/color]

What exchange rate do we use to import?

Ibime:
It's very easy to understand

PMS is an imported commodity and like all other commodities, it is affected by exchange rate

Assuming the true cost of PMS was N500 then and you were paying N200 per litre, then Govt was subsidising N300 in every litre

Official Naira rate has tripled so the same PMS true cost is now N500x3 = N1,500. If you are paying N700 now. Then Govt is now subsiding N800 inside

But we consume less PMs now.
That's major factor.

Why are we paying like we consumed the same number of fuel we did during buhari and GEJ?

The maths is not mathin

LordAdam16:
More numbers are coming out and it turns out we've paid as high as 500B (August 2022) in a month prior to 2023.
It appears The Cable cherrypicked the perfect duration for shock value. It worked.

800B ($0.5B) is wild though.
FY 2022 subsidy was $10B.
At the rate we're going, we might end up paying the same or more subsidy in $ terms without the relatively stable supply during Buhari's administration.

It'd be something to pay more subsidy than GEJ and have worse scarcity than Buhari.

-Lord

So how come we are buying fuel for more than 200 while still paying almost the same amount for subsidy?

Because I sure as hell know the fuel consumption of Nigerians has reduced drastically.
The amount of cars on the road has reduced (you can easily notice during rush hours).
But till now FG has refused to tell Nigerians the amount of fuel we buy daily to help us know how much fuel is being subsidised.


I nor understand again

BlueRayDick:
APC na very useless party. I talk am.with my full chest. They must think everyone is as dull as their supporters who swallow their useless propaganda.

They are basically playing with Semantics "shortfall", "under-recovery","subsidy" etc.

The long and short is PMS is sold at almost half the price it was imported into the country. The people are paying for half the landing cost while the government is paying the other half. How is that not subsidy?

They claimed briefcase companies and importers are the reason why subsidy payment figures are bloated. Now that they claim they no longer pay subsidy, yet the money they pay to keep pump price low is now more than what they pay when the briefcase companies were involved.

This current government is full of incompetent people who think propaganda can translate to good governance 🤦‍♂️

Lmaooo it's because the word "subsidy" is not captured in the budget.
So the question is where is the money government is using to pay this "shortfall" coming from😁

Segedinho:
Them say no be subsidy o ...say na shortfall abi wetin again..


https://x.com/aonanuga1956/status/1825650271789449520

Lmaoo

OkpaNsukkaisBae:
Dem say no be statistics we go chop, remember.

To chop sef come dey hard

Amigoss:
Kyari like Emefiele will be the scapegoat of this administration

Omo.. The man carry everybody nudes

Itsrm:
Make I read the full article first. Seeing some sleight of hand here

Please do.
But take into account that MMIA is the busiest one we have in Nigeria.
So it means Abuja airport figures will be worse

larride:
Ok. I'll tell him when we do the next video meeting.

You get problem😂😂😂

BlueRayDick:
I remember u were one of those people on this thread championing removal of subsidy . It was the same NNPC u were relying on at that time to support removal of subsidy.

U thought u had everything figured out and u didn't see anything wrong in Tinubu's brash approach to announcing "Subsidy is gone"

When they were talking about subsidy removal, u didn't bother to ask how much fuel we consume daily, weekly, monthly and yearly; U didn't bother to ask how much we will be saving by the removal, etc.

At least u don see am now. E clear

Lmaooo you should check my username against arguments about fuel consumption and the fact we don't have 1 figure.

I agree when it comes to subsidy, I should not have trusted the FG.
Mtcheeew bastards

'Data retrieved from the Nigerian Civil Aviation Authority, NCAA, showed that between January and July 2022, 9,473,813 people opted for domestic air travel. In 2023, only 8,176,722 travelled by air.

'January to May 2024, just 332,817 persons travelled through MMIA'

https://twitter.com/vanguardngrnews/status/1825395009060835552?t=yS2O9xshvBXiu1yKZx5WDg&s=19

iamoyindamola:
Haaa na normal stuff o because if you talk either they blame past government or obi

This is the issue here
Stress yourself on what you will pay for and still not get it
It's very painful

Lol.. I say make I check black market price.
7k for 5litres😂😂

izzou:
[color=royalblue]Una even see NNPC wey dey sell for una area.

Na 870 here, with shorter queues sha.
[/color]

Yesterday was a mess in yaba.
From total to Mrs to nnpc to conoil

Sorry o

And we are buying fuel for even more price

So if tinubu now actually "pays" subsidy, e go be how much to take am back to 200 per litre😂

izzou:
[color=royalblue]Only one person here is permitted to buy in gallons

What the fck were you thinking, bro?[/color]

Lmaooo
Omo the matter nor funny.


To still not be able to buy in gallon is even worse.
I nearly follow one area egbon fight yesterday inside the fuel station

liveLongNprospa:
Lmaoooooo

I understand that devaluation took place.
But how tf are we paying 800+ billion naira for subsidy?
All the way from 50 billion when you have alot less cars and fuel consumption.

Which kind Fuckery be this

iamoyindamola:
Fuel scarcity over and over
Nawa ooo

Yes I queued for 6hrs and still could not buy in gallon at nnpc yaba.

Body dey bite me

Lmaoooooo

So how do we buy fuel for generator?

BREAKING NEWS: NMDPRA have directed fuel stations to stop selling in kegs.

pic.twitter.com/LgjCHDSBCn

— Nigeria Stories (@NigeriaStories) August 16, 2024