₦airaland Forum

Freestar:
Lol. You are indeed naive if you think Tinubu is interested in anybody else but himself.

It really goes to show how self deluded you folks supporting Tinubu are.

The article below has been flying around online for sometime now. You must not have seen it.

Read and be informed:

Copied.

When I saw the Malta 🇲🇹 NNPC comment by Dangote, I suspected there was more to it. Our group decided to investigate further.

Our discovery was deeply shocking.



Firstly I will breakdown the whole Oil theft process and how Oil exporting and importing business works here in Nigeria .
NNPC grants importation licenses to a select group of oil companies, which are responsible for importing petroleum products into the country. These companies set the prices for petroleum products, and the media often refer to them as "oil marketers."

We’ve another set responsible for exporting/selling unrefined petroleum products both locally nd internationally. NNPC nd few partner companies plays a major role in this sector, along with high-ranking govt officials, military leaders, and politicians who are involved in oil theft.

To better understand this thread I will briefly explain how oil exportation and importation works in Nigeria.

Please note every point I will list, you will need them as reference as we progress, very important.

1. Extraction: Oil is extracted from the ground using drilling rigs.

2. Processing: The crude oil is exported(internationally) to refineries where it is processed into refined products

3. Transportation: The processed oil are transported from the refinery to storage tanks, blending facilities, and ports, typically via pipelines or ships.

4. Export: At the port, the oil is loaded onto tankers or other vessels and shipped to Nigeria and other countries

5. Sale: The oil is sold to buyers in Nigeria at a price set by the importer (oil marketer). The government subsidizes a significant portion of the oil price to make it more affordable for citizens, a practice known as fuel subsidy.

Now let’s link the list together.

Recently, Oando PLC announced the approval to acquire 100% of Nigerian Agip Oil Company. This effectively means that the Tinubu family now owns Agip Oil, which is part of Eni S.P.A., an Italian multinational oil and gas company.

Agip Oil operates 17 onshore oil blocks and produces 11 million barrels of oil and condensates annually, and it also manages the Bonny natural gas liquefaction plant.

One might wonder why such a successful company would divest 100% of such a critical asset.

Observing similar situations, like the case with Dangote, suggests that this sale was not made lightly.

Now, these crucial oil fields and plants in Nigeria are under the control of Tinubu through Oando PLC which is Tinubu’s family owned not even NNPC.

Stay with me please.

Continuing, with their control over substantial oil reserves in the Niger Delta and the ability to explore further through Agip Oil, their next step is refining.

Instead of building a refinery in Nigeria, they opted to construct one in Malta 🇲🇹.
This move allows them to exploit the country's resources and obscure their activities.

In early 2021, Enemed Co Ltd, the leading fuel supplier in Malta, issued a tender for the leasing of storage tanks and a blending facility at the Ras Hanzir Oil Terminal in Malta.

Ras Hanzir Oil Terminal Limited won the bidding. It is owned and operated by the Tinubu family, with Wale Tinubu, who is also the chairman of Oando PLC, serving as its chairman along with other members of the Tinubu family and their associates.

The company has already established a functioning refinery in Malta, they have now acquired the storage tanks and blending facility oil terminals, which were recently exposed to the public.

Stay with me please.

After Tinubu was sworn in as president, his first major move was to announce the removal of fuel subsidy, while the government continued to pay in secret, allowing him to increase petroleum product prices. This move was designed to benefit his own monopoly.

With the recent forced acquisition of Agip Oil by Oando PLC, Tinubu as an individual has become the largest oil exporter, explorer, and marketer in the whole country, second only to NNPC.

Here’s the pattern: Tinubu, through NNPC, will sell Nigeria’s oil to himself at a low price via his company in Malta. He will also explore, extract and export oil using his newly acquired Agip Oil Company, which operates across the Niger Delta states of Ondo, Edo, Delta, Bayelsa,
Rivers, Imo, Abia, Akwa Ibom, and Cross River.

Tinubu will then buy back the refined oil from his company in Malta through NNPC and as an oil marketer via one of his companies OVH Energy(Oando) at a higher price and export them back to Nigeria.
The refined oil is sold to the Nigerian public at a high price, while the subsidy, although officially removed, is still being paid secretly. Essentially, Tinubu is paying himself subsidy.‼️


This scheme is an extraordinary level of financial exploitation

Even after he leaves office, and Nigeria remains without a refinery which he will make sure of, his Oil Monopoly over the country will remain standing. As if that is not enough, the govt will still pay him for subsidy!

He sold Over 2 Billion Dollars worth of petroleum products to Nigeria through the Malta refinery just in 2023 alone, that’s an example of what the future of Nigeria Oil importation will look like

That’s why he will fight the Dangote refinery with everything he has because if it becomes operational, his multi-trillion-Naira oil monopoly enterprise will collapse.

Odin13:
Total gibberish from a ewedu soul

Nigerians are not fooled.. maybe Yoruba people .

Nigerians .. no!

Explain Tinubu and Agip and sup in Malta

Not dangote..

Yoruba people keep changing narratives and pushing theirs like say Nigerians are Yoruba people

Silly post

Next!

yarimo:
Shameless Obidient😆😆

Goodvibes007:
That's the Obidient Flagman.

There were discussions in Obidient vawulence space for some to start the protest and not wait for the 1st of August, so that it does not fail due to oppositions to the protest springing up.

Obidient Flagman heed the call. Goodluck to him.

PortHarcourtcit:
don't wish evil to your fellow man...

Throwback:
I hope those who think that legislators do not deserve a recess, are now happy that some work themselves to death?

He barely lived for 3days after the recess started.

May his soul rest in peace.

Ebubu2:
Anambra people celebrating flyover that Ebonyi has over 15 of

euniquea:
That particular property is no longer available.

emmanuelewumi:
An informed investor will be interested in the expected cash flow from the investment, an experienced marketer should be ready for the likely probing questions

lordm:
my people say if a crocodile can eat its children, imagine what it will do to the flesh of a frog. The only working refinery in Nigeria wants to be frustrated so they can continue importing petroleum products that will not help our economy. Tinubu is failing. He should forget about second tenure o, because no one will vote for him.

Tflex01:
Synthetic indices and other set of financial instruments that can easily send you back to the village without transport fare. The most volatile of them all. Deriv is just the platform for trading them.

Egungun be careful!

lacasera14:
Bayo don de panic. How will you hold Obi responsible? Do you have written or video evidence of him calling his supporters to protest? Does the suffering in Nigeria affects Obidients alone?

MufasaLion:
Learn to read and understand.

The last election, Atiku, Obi and Kwankwnaso had more votes combined than Tinubu. Now, imagine if Atiku and Obi form an alliance. Politics is beyond anybody forming a bigger person. It's about using the available best resources to achieve your aim, which was what Tinubu did. He used the north to his advantage.

The three opposition candidates mentioned above couldn't defeat Tinubu as a private citizen. You think it would be easier to now defeat him individually as a sitting president?

Politics is a calculated risk. You need to be beyond book-smart or morally smart. You need polical smartness.

YorubaNiBaba:
They are free to burn down kano and kaduna, anybody wey wan try any nonsense in lagos will be seriously dealt with

YorubaNiBaba:
Wail ooh, cry ooh, obidaft will never be president

yarimo:
[s]according to majority of Nigerians voters[/s]

Chikacha:
You are simply too jealous and envious. You cannot focus untill you bring this guy down, the bitterness nor just gree you see road sha.

ambale:
How Nigerians refused repeatedly to elect young and agile leaders need to be studied

Youthfulness allows one to accept criticisms while old age dey demand for respect always

I'm not a political person oo but I would love to see what this man can offer the nation one day

Nonny95:
You mean this man?

Zwooks:
It costs around 250,000 - 340,000 Naira to produce 20 50kg bags of Garri. We asked Nigerians to finance our ideas to enter the forest, face threat of deaths, face threat of bandits, sleep in the forest, we would do the work, you guys refused. The country is suffering from what we can completely manage. Sheybi the youths do not like to collaborate. Let the nation suffer the lack.

Zwooks:
Elubo. Elubo is around 1800 per paint whoesale price at my base



If not that Nigerians are not research minded, 200,000 Naira invested into cassava farming can provide a family of 5-8 with Garri, fufu and the likes for at least 4-7 months of daily consumption

TimeManager:
You don't expect a first class treatment in a situation of terror attacks, not even in Okuama was anyone given a special treat.

-Kiss the truth!

Elliotwaveforec:
I wish some of these low--cap altcoins were on mt4 for better analysis!

iLegendd:
Lol. No. You think govt. officials are not using them to handle transactions?

In your mind, you think these people care about Nigeria? They're doing the P2P more than anyone. They know more about crypto and working exchanges than anyone.

cjrane:
Nothing we can do now. We have to go through this storm and naira will finally stabilize at some point.

What we are observing are the fruits of mindless borrowing and printing of money that was the hallmark of Buhari's regime. Unfortunately, these things take time to manifest and Tinubu is the unlucky guy in power when the effects of those economic crimes by Buhari are now manifesting.

Bovis:
Alright then, keep on speculating. Time will tell ….

marenkurz:
Leave dollars, why are people trading naira? You pay 1030 naira to POS agent to get 1000 naira. Isn't that itself devaluing naira?
We have elected the most stupid people among us.

Benjaniblinks:
You guys can go. It's well

brain54:
Security is a collective effort...

Nothing wrong with the trip... Especially since they were invited.

Sometimes Nigerians just like to criticize and complain for the sake of it!

Hedonisco:
If the government is trying to stop it, then you must be doing something right.

By the way, there's a relatively easier way for these exchanges to service their Nigerian users without p2p necessarily, using virtual $ cards. This would probably force the government to ban virtual $ cards, and then we will get to the next option., and they blanket ban again.... Until the already useless economy grinds to a halt.

I personally want Nigerians to suffer and eat from the trash if possible. The country irritates the hell out of me. You don't give an enabling environment for anything. You don't create jobs for teeming youths. You don't provide infrastructure or the basics that allow a healthy economy thrive. Yet if the enterprising and creative youths 'kwechiri' to create wealth for themselves, you get offended and seek all ways to block their progress. And yet the bastard masses would continue to vote for or support very useless idiots into power the name of tribal sentiments and whatnot.

Thety are all mad. And will reap the benefits of their madness.

helinues:
Hahaha, have you not been seeing them through my comments?