₦airaland Forum

KarlTom:
Yes

Some ''bad guys'' have ''sharpened their knives'' for Oando, just waiting for the cow to land!
Always ''watching out'', from T&T to Angola, to Niger Delta

KarlTom:
This your comment reminds me of the individual who started gaining weight after selling off his/her OandO holding

I know the ''individual'' here. His moniker starts with ''E''.
He does not want Oando wahala at all.
But we dey there gidigba. All die be die

dre11:
https://www.thecable.ng/us-nigeria-forces-kill-over-20-isis-fighters-in-fresh-borno-air-strike/

Please, we know our armed forces have been trying their best in the past. But this is US' making

Oasisblue:
Whats pushing Oando share price up? Have they released their result? Just curious as I no get Oando again. Sold it all off. The management of the company infuriates me.

Keep your peace!
Only the brave and rugged are entering the thick forest, it's called ''igbo odaju"

SonofElElyonRet:
Which new government when opposition votes will be split rekereke? Jonathan is also contesting

Sometimes, it is better to stay away and protect the reputation and respect you enjoy.
I wonder who and who advise Jonathan to contest. And what would be his new status, reputation, image etc. if he loses?
Or if he wins and has to face the current insecurity and economic challenges created by this govt?

HesInMe:
That "if" should be in 100-size bolded and italicized font sha.

You are right
Are you an Oandoite, or one of those people that like to hold our blokos when things are down, like @Agba?

BabsO2:
Make them release the result joor. Make we pray this journey doesn't fizzle out like that. But lead to the 3 digit destination without delay. My estimate of OANDO valuation is nearly mid way into four digits based on cashflow from reserves entitlements. Even with the planned dilution from Capital raise, it's valuation is still far from current market price.

Yeah.
Aradel's value alone tells me Oando can easily clock N500 if they resolve the debt burden and increase production to 100,000boepd

BabsO2:
Oando just gained a perfect 10%. So good. Lovely.

Wale may be coming up with something.
Although they promised to release 2025 audited results on or before May31. May be some people have seen the results and it is good.?

Agbalowomeri:
Let's not deceive ourselves. The present police architecture cannot solve the security issues in the country. The ultimate is the state police which the national assembly is working on. The governors are the chief security officers of states. With state police, they can now be held accountable.

So what's the govt waiting for? Why not do some ''decentralization'' of the police force and allow State police; or you recruit more police and military and declare a total state of emergency on the security situation so they can go after these criminals in all areas of the country?
Now, southern states that were considered safe are now being attacked

Agbalowomeri:
Your translation lacks context

I translated it as naively as I could. Wetin I know as small pikin?
Over to the ''Agba'' to add proper ''context'' to it!

SlavaUkraini:
https://www.thecable.ng/shamed-into-action-atiku-faults-fgs-response-to-anti-immigrant-tensions-in-south-africa/

Atiku, and Nigerians generally should stop thinking that population is make grants a nation its status in intermnational politics.
Ghana may be less in population but their antecedents and records in Africa and global politics is not inferior to Nigeria's, if not better than that of Nigeria.
Population is not everything. Israel, Sweden, Austria are about 10million in population. The UK virtually colonized the whole world, including bigger and larger countries like India, Pakistan etc, when the UK itself was far less in population than these countries

Where is @megawealth01?
Oando has started dancing ooo.
I hope this dance is genuine and not the ''egele'' type ooo!

nosa2:
Abeg help me translate

The woman selling Akamu has arrived!

chimex38:
The recent Oyo saga is scary.
and it started with little, little abductions to now a much large scale.
From the core North to Kogi, kwara state, the terrorists now have a tent in Oyo forests!

But some people would not want the truth to be told!
A grossly incompetent, clueless and reckless govt

KarlTom:
I am optimistic that DANGREFINE will defy market logic.
Especially if the rumors of the listing of the refinery and petrochemicals unit as one entity is true.

We await details of the offer

I just smile at those who are interested but decide to ignore the IPO and wait to buy the shares cheaper after listing. It won't happen.
This is an export-oriented refinery, one of the largest in the world, a pseudo-monopoly situated in a free trade zone, earning and proposing dividends in hard currencies. And Alhaji has a habit of paying dividends starting from the first year. So imagine dollar dividends being paid for FY2026!
This is different from the Food & Beverage, Cement or other sectors that have so several competitors and earnings are mostly in naira.
Already, govt agencies are relaxing their rules so that PFCs can buy the IPO in billions and trillions of naira!
Who go sell am for you to buy it cheap after the IPO?

Terrorists and bandits are busy killing people all over the country. But they are busy organizing their elections.

GeneralDae:
So what about the most successful national oil companies out there like Saudi Aramco and Petrobas? Are you saying their upstream wasn’t part of their IPO’s?

So you want billionaires to buy shares in NNPC so that the profits from upstream crude revenue can be shared to them in a country where we do not have good roads, schools, hospitals, jobs, electricity etc?.
Let us imitate and copy what would help us to grow and develop, not necessarily what other better developed countries are doing because they can afford to do so at this stage of their national development.

Even Saudi Aramco is almost completely owned by the Saudi govt. itself. Only about 2% is outside govt.
That is even in a country that has all the things we could only dream to have... good schools, hospitals, infrastructure, electicity, security, jobs, human development, strong economy, less corruption etc

ghm:
We need to think deeply before we make some comments.

1. NNPC owed the FG in unremeted revenues for several years before this administration and the only way NNPC can pay is if they continue to manage the oil revenue - business as usual.
2. A thinking President asked them to forget all the debts totally and stop managing oil revenue for FG.
3. He then directed all revenue to come straight to FG account without NNPC's oversight/management.
4. Finally removed the 30% management fees usually taken by NNPC from the revenue.

We may not be there yet but we are not where we used to be, we are on the way to where we should be.

IMO please.

The nation is governed by laws, rules and regulations; not by the sole antics, whims and caprices of a president! The president cannot be wiser than the constitution and laws by which the country is governed
Where in the constitution or any law is the president granted powers to do such without concurrence or approval by national assembly?
He is a constitutional president, not a king!

And you are grandstanding saying ''we'' should ''think deeply'' before making comments. In other words, the person whose post you quoted (i.e. myself) probably did not ''think deeply'' before making those comments. Clever you!

Now, it is your turn to ''think deeply'' before commenting and tell us if the action of the president is lawful, or even promotes accountability and transparency.

GeneralDae:
Lol, NNPC are strong stakeholders in every barrel of oil produced in this country. They also own 49% stake in NLNG and drill their own 350k bpd oil and manage that of the federation (which they have mostly done forward pledges with). They are the biggest firm in Nigeria and only the Dangote group would likely come close in a few years.

Yes, this Government paid subsidy from August 2023 to October 2024. That is my problem with this Government. They are just too political and not transparent with the public when they should be.

Don't mix it up.!
Oil producing countries do not put their MAIN upstream operations on stock exchanges because that is source where the bulk of sovereign national revenues for the economy and budget comes from. They can only list their midstream/downstream operations e.g. distribution, refineries. refined products, lubricants etc.
Some private companies e.g. Shell, Total, ENI, even Conoil also do the same. You would not find their upstream operation listed in some countries.
So do not expect NNPC to list their upstream operations where crude oil export revenue comes from, It wont happen! Only the filling stations, refineries and other downstream activity may be listed. They only need to form a new PUBLIC company for the operations they want to list on NGX

megawealth01:
We go list WHO for Nigeria Stock Exchange

GeneralDae:
If you followed the World Bank reports you would see that their report in Q1 2025 stated that NNPC have started paying back the debts immediately after the subsidy was completed stopped in October 2024.

And NNPC want to do IPO in London? For what business? Filling stations or dead refineries?
You can believe anything from this govt! Good luck.

The govt even said that they stopped subsidy altogether in Jun2023. So why October 2024 again? Have they been paying subsidy for 16 months from Jun2023 to October 2024?
Lies will be needed to cover lies

GeneralDae:
You are right that these things should be done constitutionally and I agree with you. However, I have no problem with writing off NNPC ‘s debt. It is to fast track their eventual IPO in Nigeria and London stock exchanges before 2028. You don’t want subsidy debts weighing them down as they clean their books. The FG was also in debt to NNPC for the long years of subsidies which crippled NNPC until they couldn’t take it anymore and stopped remitting to the CBN in 2022.
In July 2024 (during the subsidy regime), international oil marketers revealed NNPC were indebted to them and the amount was a staggering $6 Billion.
But be that as it may, you are right that the Government should be more transparent and democratic in these processes.

And you believe the crap that NNPC is going to an IPO in London and Nigeria? IPO for what? The 4 dead refineries or the former Oando filling stations?
Only ignorant people would buy such IPO in a govt company that operates with no transparency and accountability.
Any serious major investor would revive that debt matter and resolve it before they put money down

GeneralDae:
Of course they are still there and I agree. But this Government tackled and is still tackling the biggest ones:

Leakage from FX rate duality
Leakage from fuel subsidy
Leakage from NNPC fees retention (now to be remitted to FAAC)
MDA leakages
Leakages from outdated (colonial era) tax systems

A govt and a president that wrote off NNPC's debt of unremitted revenues in the most reckless and irresponsible manner without approval by national assembly?
That is another example of corruption and lack of accountability in this govt.
Where this the president get the powers under the constitution to write-off the debts of an institution like NNPC?

AngelSlay:
No loud am!

Abeg, forget that hype!
The insurance sector in Nigeria is still fragile.
No one expected the industry to go down so low after the financial sector recapitalization in 2004/2006

GeneralDae:
Is there any Government since the 1970’s (after Murtala Muhammad) that has blocked leakages and corruption like this Government? Show me one and I would concede.

No govt ever went to a summit in a foreign country with 400 officials.
And do you want to compare the Buhari/Idiagbon govt with this govt in terms of blocking leakages and corruption, or what?
Their govt was in 1983/84, which was after Murtala's in 1976.

Oya, concede now and keep your integrity intact! Otherwise ....................!

emmanuelewumi:
PENCOM just gave approval to Pension Fund Managers, that they can invest in the IPO of Dangote Refinery.

Pension Fund Managers should be able to raise N1 Trillion for the offer

These are the people that would cause oversubscription and deny ordinary investors the opportunity to be allotted in full.

GeneralDae:
I agree they should reduce Govt overhead but give me the figure of all of it and let’s see what they are. The deficit is over 20 trillion for 2026. Recurrent expenditures are in trillions.
Reducing the Government overhead would be good especially for the optics and would solve the problem in a little way but would it really solve the problem in a major way? Would that be enough to reduce the budget deficit and help the naira (especially in 2023 and 2024)? I doubt it.

While it is true we have a management and corruption problem, a bigger problem is that we are unproductive and we are too poor.

If you are unproductive and too poor as a nation, the most important, critical priority is to ensure prudence in public spending, even if you have plans to increase revenue.
No amount of revenue would make the desired difference where there are huge and ever-increasing leakages and corruption.
You block the leakages FIRST.
Do you continue to pour more water into a bucket with a huge leaking hole, or you fix the leakage FIRST and go and fetch more water?

GeneralDae:
Give me the numbers so I analyze how to reduce budget deficit without them.

Don’t get me wrong, that also is a problem and should be reduced or eliminated but focusing on that alone would not reduce the budget deficit except the numbers are huge. If you can give me the figures of these lootings, then we can analyze them.

Very funny.
Why don't you also provide the figures to support your own position or opinion as well?
The accountant general and others who get paid huge sums for the job are in Abuja!
As a friend of the govt, you should be able to obtain the information you need easily? And you cannot ask them but rather being mischievous to push the responsibility on someone else on NSEMPA?

GeneralDae:
I agree with the bolded but then again the only way they would have done that to make meaningful impacts would be:

1) Sack workers ( a huge chunk of the budget are salaries)

2) Reduce capital projects (this is what Milei did alongside 1 above)

3) Default and turn to IMF programmes of austerity and join the likes of Ghana, Ethiopia and Zambia as one of those who defaulted on their debts recently in Africa.

I am quite sure they would have faced severe criticism as well if they had implemented any of these 3 or all of them like Milei.

No easy way.

Nobody expects or asking them to stop or reduce capital budget. How much percentage are they even spending on capital projects? The main issue is recurrent expenditure, excluding salaries !
They should cut the huge overheads being spent on govt machinery! A govt that went to Climate Change summit in Dubai with about 400 officials?

KarlTom:
Make una leave our OandO alone o

Stray bullet just dey hit am left right centre

Don't mind those frienemies!
Na for their eyes Uncle Wale go do us better, carry us go London for shopping!

GeeKudi:
Now I see where you are coming from. You may have to forgive them on behalf of Jonathan because, apparently, Jonathan himself has moved on from that derogation of his personality .

Away from the grudge on behalf of GEJ. Personally, I do not believe that a country monumentally bedeviled by infrastrutuctural deficit and constantly on the brink of economic depression should 'cut expenditure drastically'. Our national budget is still very small compared to our population. Cutting it in order to reduce budget deficit will be the lazy way out and will only continue to limit our growth.
Contrary to citizens' perception, Nigeria is a very poor country revenue wise. So, YES, Nigeria need to be very aggresive in driving revenue generation to be able to cater for our ballooned population. But What I also believe is that every kobo must be traceable, what you call fiscal discipline and accountability.

On the issue of corruption/looting, I would like to ask, who is actually corrupt in Nigeria? I started following public discourse in Nigeria since my junior class days in secondary school. It has always been our national chorus that Nigeria is corrupt and there is corruption in Nigeria. Presidents upon presidents always admit this. Legislators have it on their main agenda to curb corruption. Pastors preach about it. Banks have corruption codes for their employees. Teachers, lecturers, street fighters (Lol), drivers, market traders, NSEMPA forum members all agree that there is corruption. But no one is ever admitting to be the corrupt one. Is it just a matter of perception or we find it convenient to complain when we don't benefit from it?

I cited Jonathan's issue, just as an example of how Tinubu himself used to criticize govts in the past. I am not a Jonathan person. I also referred to how he criticized OBJ, and even Buhari.

All over the world, what serious govts do when they have chronic budget deficits is to cut expenditure to re-balance the economy, which involves implementing prudent policies and blocking leakages. This enables them to eliminate wastes and prioritize spending on critical, productive sectors. It does not mean there should be no spending.
Just Increasing revenue without blocking the leakages is a waste of time because whatever comes in would evaporate.

The same way Tinubu assessed other presidents before him, is the way he too will be assessed. We cannot treat him differently or ''design'' a different ''syllabus'' or criteria to assess him!

GeeKudi:
You call the liberalization of the FX market an economic mishap? That's what you reacted to initially, right?
Maybe you should just let us in to your school of economy. I mean, enlighten us on what you consider an alternative policy? Borrow money to defend the naira? That was essentially what was being done.

That's why I said you probably belong to Sowore's school of governance, which is basically to criticize everything by all means and at all times even if your alternatives can only be described as ridiculous. For instance, Omoyele would pay N1m as minimun wage

I don't get you!
The main reason why the naira was weakening is budget deficit! And the most reasonable thing to do is to cut expenditure drastically. But instead, they decided to focus on increasing revenue, which is looted again. After devaluing the naira and ''liberalizing the FX market'' (as you said) to rake in more revenue, tell me if they are still borrowing heavily or not? The debt would still rise, and there is NOTHING to show for it.

If you care to know, Sowore, myself and Tinubu himself; we all ''belonged'' to the same ''school of governance''! Have you forgotten that your Tinubu criticized everything govts did in the past, including some policies similar to what you are praising him for now? That is the hypocrisy I cannot stand!
You seem to have forgotten that your current president opened his mouth and called a sitting president a ''drunken fisherman'' just because he disagreed with some economic policies of the govt.? Nigerians!

The heightened poverty, insecurity, inflation, hardship and hunger in the land are the mishaps!

I am neither APC nor PDP nor ADC.
But, Teacher (Tinubu) don't teach me nonsense!