₦airaland Forum

awesomeJ:
Imagine their pay is N20m per annual averagely,

It means they were offered N100m block sum without work??

If I was a staff at the refinery, I would beg to be fired.

Cos the N20m pay is just about N1.6m per month,

Whereas I would easily and consistently make , 5% on N100m without leaving my house.

And with compounding, my assets will grow faster than any potential promotion at the refinery.


Alhaji is really offering N100m or more per employee for no work

Dangote refinery does not pay as much as people may expect.

RodgersAkpafu:
This is not a big deal
Why are people making an issue out of it ?

At this time when Access bank is struggling with performance, shareholder returns(dividend) and CBN/SEC regulatory compliance?
It is not good optics for the bank.
By the way, why was the purchase and amount involved even disclosed? Afterall, he wouldn't be the only bank CEO that has that kind of house abroad?

Biodun556:
https://guardian.ng/news/fg-extends-lagos-calabar-coastal-highway-to-edo/

Corrupt, haphazard project. No proper planning, just rushing to justify the trillions of naira spent

Odunharry:
Reserve now at $43B

The reserve has been oscillating between $35-45billion for decades

megawealth01:
I just hope they transform it like WEMA and I'm cool

They will. I think Providus Bank is really coming up very strong and would do very well.

megawealth01:
PZ and UNITY BANK on my mind

You and your Unity Bank loot!

crownprince2017:
I'm surprised you are still replying that noise maker.
Somebody that is preaching against Ella but becomes a conductor calling passengers to board oando with plenty gbese.

Ella is a worthy and a more safer risk than oando, I said this long ago and I'm saying it again.

Investing is not about how to buy fake spare parts from ABA and sell as original in Lagos as simple as it's, some people will still make others spend years to learn rubbish..


Stop wasting your time on that guy, he too sabi double mouth, he would later quote you and twist your post to suit his narratives.

I think you have a preference for Ellah, which is okay
But if you go by recent corporate actions of the two companies, Oando has very good prospects.
Not a trade advice. DYOR

GeneralDae:
Customs were mainly influenced by NASS who increased their target and they have been insisting on this new fees for a while saying the cost of their operations have increased and many things have to be maintained. I cannot say I am certain Tinubu didn’t see it, but I look out for his reaction more. If Tinubu wanted it, complaints and mummuring alone would not make him reverse it. You may be right that it came to his desk and was approved initially by him. I cannot prove or disprove that.

As for the crude oil and Dangote matter, there was a lot of propaganda involved in it. NNPC didn’t sell crude as agreed because crude production had dropped drastically as at 2023/2024 and they couldn’t fulfill their side of the bargain. Between 2020 and 2022, lots of forward sales were also done. NNPC disappointed Dangote due to these reasons coupled with the fact that the refinery was at the pre commissioning stage and it was a time Dangote needed easy/quick crude for testing but it was also a time where our production was low and we had forex shortages and lots of forward sales. NNPC couldn’t just give Dangote all he needed for pre commissioning at that time (making little profits) and hence they scaled back ownership from 20% to 7.2%.

From the view of Dangote, this was disappointing and rightly so because he then had to spend to import crude at that stage.
When Dangote was complaining, these were the things he was complaining about in the case of NNPC.
Then when he spoke about Malta, opposition twisted it to point at Tinubu with no evidence but the fight was against big oil importers. Also, it would have been foolish for Tinubu to clearly take sides then by banning imports at that early stage.

When NMPDRA spoke saying they couldn’t determine the Dangote fuel quality or it not yet been ready, you cannot automatically say that was Tinubu speaking. Yes, Tinubu would not ban imports but to believe he told NMPDRA boss to give that speech as the excuse would be far too simplistic.

Summary: Was Tinubu against import ban? Yes. Does that mean Dangote was attacking Tinubu for that? No. He was attacking the marketers like DAPPMANN whom he calls the cabal. Tinubu doesn’t need to ban imports for him to take over the market but where the cabals try to restrict him from doing that, is where he fights (note the difference). Is Tinubu or Oando allowing imports because of Malta blending plant? No. Because no evidence links Malta imports to Oando or Tinubu but rather to another businessman who gave Buhari $1.5 Billion in 2020 in one of those forward sales.
So me I’m all for facts and the evidence and as investors, I’m sure this is the opportunity to learn. If I’m wrong on any of these points, I would gladly take it back.

You try!
My thesis was not this long!

Hassanmaye:
Stop calling them terrorists they're freedom fighters, most blind christians think Israel is the same with that of the bible, wake up. They're killing children but they are not terrorists? Do you know how many christians are in Palestine?

You can show us where the Israel in the Bible is located.
Egypt, Syria, Lebanon, Jordan are all the same as on the Bible but for you only Israel has changed. Liars.
Where were you when Hamas a d Palestinians were celebrating and jubilating when innocent 1,200 Israel's were killed in cold blood!

shoodboi2:
The so-called confidential issue they claim is false. Dangote is trying to run a monopoly in the oil sector and the people there are fighting back and refusing him to.

Has Dangote stopeed you or any person from building your own refinery?
Abi you people don't know the meaning of "monopoly" that you are shouting up and down.

Didijiji:
Always boastful, proud yet empty

See the situation of Nigeria today

You should be ashamed of your score card

very proud poor performer

Exactly!
Everything is about him even though very clueless!
If he launches a Lagos - Calabar road, he says "this is my bragging day".

Ofunaofu:
I honestly don’t understand these people.

Was Tinubu’s sole purpose for grabbing power just to inflict pain and untold hardship on Nigerians only to turn around and tell them to endure it?

Since he grabbed, snatched, and ran with power, he and his gang have done nothing but dish out suffering, while preaching endurance to the very people they’re actively punishing.

Nigerians are constantly told to keep enduring, while the architects of their misery live in comfort and luxury, untouched by the chaos they created.

Are they enduring anything themselves? Or is pain now a burden reserved only for the masses?

They even denied that there was pain and suffering in the country.
Now, they are pleading to the masses to endure.
Liars and a clueless govt.

Zionmdde:
OK now you don't believe their salary is 400k gross and 300k net abi.

Out of 800, in the next 3 years over 700 will get far more better jobs where they have far more better respect.
Dangote refinery employ like 50 or more every year for the past 10 years now, and as trains the professionals in India, if you are not in that Cadre you can't be in pengassan, go and find out the meaning of pengassan. It's an insult for a pengassan member to be earning 300k

How could Dangote refinery employ 50 or more people for the past 10 years?
How old is the refinery and when did it start operations?
There may be people who earn N400k or N300k but those that were trained abroad would be senior staff e.g. engineers, accountants etc and their salaries would be higher than that. Even if it is not more than that, it is better than not working and sitting at home doing nothing.

YesDaddyTill203:
Destruction after how many months? Pls stop this joke

A ragtag army that they have failed to destroy after how many months of threats?
The IDF terrorists are only good at killing children and women.

So why is Hamas, Palestinian Authority, UN etc .talking about ceasefire?
Let the war continue then and no one should shout ''genocide''.

Probably you are blind to Hamas killing babies, children and women when they attacked Israel

Zionmdde:
most of those workers with training in india and 5 years experience in a world class refinery won't go back to work for 300k oooo. What happened to UAE, Saudi Aramco and the rest

Dangote has given them free transfer.

Yes, but definitely not all of them. Some may not even have enough practical experience because Dangote refinery is still very young.
And I don't believe people were trained in India and they are being paid 300k as salary in Nigeria. That is not possible..

Zionmdde:
Weed out the people he spent millions to train in India, and the people that have already gotten enough experience to get better jobs abroad

Do you even know why dangote made them sign bonds before their training? Man must be licking his wounds by now. I guess you have never reached the level of knowing what it takes to train staffs and lose them immediately

Some of the workers would still be called back to the refinery. But they will NEVER join PENGASSAN/NUPENG again with this experience. Unless the worker is a fool.
So Dangote has won.

Zionmdde:
After all this long talks, did dangote reemploy them or not?
Sales attendants have their union too. When we talk pengassan, we talk about people who run the economy of this country through valves

The issue was never about re-employing the workers.
The issue was about sacking the workers from working in Dangote refinery. And that is still maintained.
Afterall, Dangote did not say he would not accept them in other companies. He only said he does not need them in the refinery anymore. And he won!
The sales attendants in filling stations are also oil and gas workers; NUPENG and PENGASSAN should be fighting for them.

[quote author=Zionmdde post=136977772]After all this long talks, did dangote reemploy them or not?
Sales attendants have their union too. When we talk pengassan, we talk about people who run the economy of this country through valves[/quote
The issue was never about re-employing the workers.
The issue was about sacking the workers from working in Dangote refinery. And that is still maintained.
Afterall, Dangote did not say he would not accept them in other companies. He only said he does not need them in the refinery anymore. And he won!
The sales attendants in filling stations are also oil and gas workers; NUPENG and PENGASSAN should be fighting for them.

Zionmdde:
Did dangote go back to his vomit or not?
I thought it's his personal property and he can sack and hire at will
Why bowing down to pressure this time

Pengassan lost nothing, all the members will get their full salaries this month, that's in millions for most of them, while people like you can keep bickering

Dangote did not go back to his vomit! He says he is ''reorganizing'' his refinery and does not need those workers there anymore. And that still stands.
He is the owner of his factory, PENGASSAN cannot dictate to him. And who says those redeployed workers cannot be sacked again in future if they misbehave? He has only accepted to redeploy them based on humanitarian grounds.
But dem no born any worker in the refinery to go join PENGASSAN/NUPEN again! That is what matters!

Let PENGASSAN/NUPENG go fight for the sales attendants who sell petrol into peoples' cars at filling stations and they are paid less than the minimum wage.

Elusive001:
The statement reads: “The Honourable Minister of Labour informed the meeting that unionisation is a right of workers in accordance with the laws of Nigeria, and this right should be respected.

What does the above mean?

Una get understanding problem.
😅🤣🤣🤣🤣🤣

Keep on deceiving yourself. Which worker would want to lose his/her job because of a union?
Dangote has won. Only a foolish worker in the refinery would dare join PENGASSAN/NUPENG again with this. Or they lose their job.

Zionmdde:
The fact pengassan agreed to call off the strike despite the redeployment stuff only showed they were fighting for the sacked workers who by the reason of the redeployment may no longer be their member

While the millions spent in training them in india will be lost as dangote will spend another to train some more
Dangote will always keep getting dumb advice from his Indian remote controls.

Because we see him as savior, he is now free to disregard our labour laws. I love the way the man blackmail gullible Nigerians into supporting him. First he is getting crude at cheaper price and selling fuel above import price. Always crying sabotage to have his way

Those town criers who have been crying for days now can now wipe their tears off. And all those ones that threatened one million man protest and can drive the protesters to kwara state where they are needed

Don't be deceived. Dangote has effectively killed PENGASSAN/NUPENG unionism in the refinery.
Some of the affected workers would be called back to the refinery in future and they will NEVER attempt to join PENGASSAN/NUPENG again! They have learnt their lesson. Anytime they join the unions, the Management would ''reorganize''/''restructure'' and lay them off once again

flokii:
Dangote a.k.a local champion should stop flouting the constitution of Nigeria and international labour laws.

Benefits of Unions to workers are numerous:

1. They ensure workers rights are protected
2. They ensure proper welfare of workers
3. They ensure personal protective equipments (PPEs) and all necessary safety materials in hazardous jobs such as Dangote refinery are provided for workers.
4. In situations of death, they ensure the benefits of their departed members are paid to their families.
5. They checkmate wicked employers that may want to pay workers peanuts for jobs that require more remuneration.

Those supporting Dangote should get educated and see the evil lurking in the shadows if the man stops unionism.

Shell, Total and likes never stopped unionism because they have respect for labour laws and the right of association enshrined in the Nigerian constitution.. e reach the local champion a.k.a lover of monopoly turn, he started screaming sabotage just to arm twist the Government and unsuspecting Nigerians.

It is a free world. Those who do not want to work in Dangote refinery can go and join Total, Shell and the likes.
It is not by force. Dangote has the right to reorganize and restructure his factory, including the right to hire and fire. He will pay adequate compensation according to the terms of the employment contract.

handsomebolanle:
I agree with you on this.
But then he could have come out to tell them he doesn’t want union. Why allow it and sack them afterwards.

You’re on point though.

It would be wrong and unlawful for him to say so explicitly.
It is now left to the workers to read his body language and the handwriting on the wall and decide whether they want work at his refinery or look for work elsewhere.

chimex38:
It will be harmonized like BVN.
several Bank account with different bank account numbers are linked to BVN for your unique identity.
Either using NIN as Tax ID(most likely).

Do you know some joint accounts do not have BVN?

emmanuelewumi:
Don't you think is better for the remaining workers to resign enmasse and teach him a lesson.

I don't like nonsense

Remaining workers to resign ke? Can you do that?
There are better qualified unemployed hands outside who would jump to accept the same jobs immediately! Who has union helped in Nigeria where it is survival of the fittest.

When it is time for them to pay rent to landlord, they can go and call union to help them pay!

handsomebolanle:
This is another possible outcome though. He will have to pay heavily.
Then have a workaround on ensuring limiting the right of his employees to join union.
A country were many things are possible.

Look, no worker wants to lose his/her job because of any union. I am sure many of them would be regretting by now.
Unionism is good, but we have to be careful in this matter because of our unfortunate experience with NNPC refineries and how the masses had suffered queuing for fuel at filling stations for days..

If Dangote insists on sacking the 800 workers, he can do it easily and even heavy damages and compensation for it, just to kill unionism in the refinery for life!

emmanuelewumi:
Which will be interpreted by the court.


Because the employer said they reorganized the business due to sabotage, leakages, theft and others, that what led to the sack of 800 workers.

But PENGASSAN said they were sacked because they joined the union.


PENGASSAN has the billion of Naira to hire SANs who will challenge the sack.

And Dangote will pay dearly for it

So you think PENGASSAN can decide or impose workers on Dangote refinery if Dangote is truly determined to not employ them? The worst case would be payment of damages and financial entitlements to the affected workers

Joyful365:
So many egg heads on this thread are praising Dangote. It shows why Nigeria is this sick and lacking development.

There's no single country that has developed where the working class has low purchasing power due to poor wages and poor working conditions.

Unions are there to enforce the right of workers, especially in a capitalist environment fueled by greed and a corrupt, incompetent government.

Nigeria is where it is today because 80% of the working class are underpaid and ill-treated - whether in the private sector or in the public sector.

Don't let the greed of what you stand to gain by purchasing Dangote refinery shares make you turn a blind eye to the bad and greedy behaviour of the capitalist.

Whatever you will gain, whatever wealth you will build, you won't have the security and peace to enjoy it in a society where majority of the working class is living from hand to mouth and engaging in unethical conducts to make ends meet.

There's no hiding place for any of you.

And I like the fact that the west is tightening its visa laws and making it harder for you to run there after supporting nonsense in your country. You will stay back here to enjoy the monster you all create because of greed and shortsightedness.

You heard of the Arise TV lady whose life has been taken in the president's own FCT. Criminals like those who did this act are created because of the hopelessness created by greedy monopolists and capitalists who take advantage of the unemployment situation in a country to underpay workers and make them work under unfavorable conditions.

There's no hiding place for anyone, innocent or not, if you continue to support a society fueled by greed and economic deprivation of majority.

You won't enjoy your wealth in peace. You can not enjoy your wealth in peace in such environment.

People are not praising Dangote because we want to buy shares in his refinery or company. That is very narrow and myopic.
Dangote is enjoying support because his refinery has become an important, strategic economic asset for Nigeria and Nigerians.

Also, an employer does not owe employees the right to be employed. If employees do not accept the conditions of the employer, they should not apply for employment in the company or they can resign. No one is being forced to work in any organization.
Unions can only exist because there is a company operating that employs workers. If the company dies, there will be no union.
The Nigerian labour law favours the employer in many aspects hence employees/workers need to be diplomatic in issues like this.

The same PENGASSAN/NUPENG could not resuscitate NNPC refineries for decades, in spite of $billions spent on TAM.
Where were they when NNPC refineries failed to work and the masses were being fleeced with NNPC's higher prices and suffering long queues at filling stations?

awesomeJ:
20 billion shares listed 2500 per share I'm guessing. (At a $34bn valuation)

The listing price should not be too high e.g. not more than N1,000 per share.

emmanuelewumi:
So why should anybody buy shares in a business you are condemning

God bless you.
They accuse Dangote of ''monopoly'', yet they want to buy shares in the same ''monopoly''. Why not buy or establish a competitor firm to challenge the so called ''monopoly''?
They think they can just flex their muscles anyhow, they same way used to hold govt. to ransom in the past.

handsomebolanle:
Until he his able to drill his well and claim full ownership of the oil or get his crude outside the country. - this is my personal opinion
Unfortunately, the law gives ownership of natural resources to the land.

There is always room for collective bargain. Dangote will need to sit and come to a compromise.

Dangote is already importing crude from US.
The ownership of natural resources is vested in the national oil company or government, represented by NNPC Ltd and Dangote has contract signed with them.
The law does not say the unions are the owners of natural resources.
Dangote has the right to determine who works in his factory and who does not.