₦airaland Forum

NotProphet:
regardless of what INEC did
tinubu hold that seat now
so it is normal for us all to accept it since we cant do anything about it now.

it is not a blow to anybody, it is you that lack simple logic and comprehension

Your generation are just clueless, they really played you

Chinjo2:
Everybody in Edo state knows that Governor Obaseki in order to ensure that feeding progtamm is not hijacked by politicians decided to adopt the method of allocating rice to both CAN, PFN and Muslim Welfare board for onward distribution to their members.
The rice is not palliative sent from Abuja but a home grown initiative by the state government.
APC however decided to accuse Obaseki of hoarding rice just to score cheap politicial point.

Did u read the inscription on the bags of rice, I bet you can’t understand even if u can read

God1000:
Good, This protest should happen all over the world, not only in Nigeria


It's no longer business as usual Mr president

So Dss was right that there were being funded by foreign Igbo elements

Xscape1993:
Where was the court when the drug master sponsored so many protests during Jonathan's regime? Why is the certificate forger afraid of protest and constructive criticisms? Pretenders everywhere...

Be running your tap, if you like go to ikeja under bridge, prison is loading for you

LagosPrince:
The soldiers won't be stupid to make the same mistake that they made during the Endsars protest because it may not be business as usual o

So they better use their sense and avoid use of force this time to avoid anarchy and doom for this great nation

Be typing grammar, if they are shooting go there and put your chest

Depriest2020:
With a heavy heart I send my sincere condolences to his immediate family, the good people of Anambra state, his Nnewi community and to one of his PR assistant who is a Nairalander @ ChumzyOma. Take heart, I pray 🙏 God grant you'all the fortitude to bear the loss.

Am sure that you are part of the people that wished death on Tinubu
U people have forgotten that matters of life and death rests solely with Allah

Afonjah:
Coming very soon to Lagos Island

And later to your father and mothers village

Chigozie321:
😂

Oga buy the constitution and read, the internet is not an education

villagereporter:
Blue murder. No wonder dangote was importing crude oil from America. Masses are finished in this Tinubulation govt.

Go school na lie, u want to sell iPhone, school na scam, with little education, u won’t think like a rat

Validated:
You order me, court bars you.
Fubara should demolish the meeting place for these rascals following Wike. Then revoke all cofo for whatever they own in Rivers State. Demolish their personal homes with 5 days eviction notices.

U are just a mumu, those 27 members can even sit in an hotel, Fubara is history

SoNature:
It's a shame that Davido wants to keep sleeping with Sophia while married to Chioma. He feels entitled to Sophia's body because he's taking care of their daughter, Imade.

It's quite unfortunate that Chioma doesn't have a problem marrying a community d!ck like Davido all thanks to fame and fortune.

But na wa 4 u oo, u believe everything you read instantly. What will David still be looking for in her body with all the millions of fresh girls out there and not after one

esira:
The father or the mother, who is supposed to bring up a child ?

Do you know the meaning of joint custody? Sorosoke generation

hurryup123:
Rivers state is hot as we speak
But fubara is in charge

Say No To godfatherism


People are actually passing through a lot

Vissionless Tinubu change agenda is working.
TINUBU'S AGENDA IS GOING
ON SUCCESSFULLY AS WE ALL CAN

U
PERCEIVE.

1. Petrol from N97(GEJ)-780k - in most
other places over N810

1. Bread from 500(GEJ) to 1800 Tinubu

2.DStv/Go tv subscription Hike twice in let's than 4 months

3. Rice(foreign) from 10k-70(Local) a bag
painter 6k-7k

4. Kerosene from 120(GEJ) naira to 1500 and above .

5. Wike/Fubara's Rivers state crisis under his watch

6. Kano state Emir tussle under his watch

7. Garri from N260(GEJ) to N4000 per paint.

8. Sugar 250(GEJ) 1500


9. Electricity charge from N3000 to
N17000 per month even when not
available

10. Scarcity of money in all sphere of life,
yet abundantly available if one is a
Tinubu's son/ groups owambe.

11. Killings from few individuals to whole
communities being wiped out

12. Police/military roadblocks from 1 per
40km to 2 per 3km

13. Crude oil illegal bunkering from
10,000 barrels pd to 2000,000 barrels pd.

14. Constant industrial actions by many
organisations(NLC)

15. From the sack of few workers to the
sack of thousands of workers.

(Guinness announces plan to leave Nigeria after 75 years as Tinubu’s inflation wreaks economic havoc)

(GlaxoSmithKline Consumer Nigeria)
(Heritage bank)
(Lazarpay)
(54Gene– 54Gene shut down )
(MABISCO Biscuit shut down)
(Sanofi-Aventis Nigeria Ltd)
(Equinor Nigeria Energy Company (ENEC)
(Bolt Food shut down)
(Procter & Gamble (P&G) shut down)
(Jumia Foods shut down)
(Louis Carter Industries shut down)
(Moak Enterprises shut down)
(Tower Aluminium shut down)
(Technoflex Company Limited shut down)
(Evans Medicals shut down)
(Multi-Trex Integrated Foods Plc shut down)

16.SSCE/JAMB rate of failure from 20% to
over 85%

17. Trust, love and unity among citizens
from substantial to zero

18. Misappropriation of funds from
Millions of Naira to Trillions of
DOLLARS or TRILLIONS of naira

19. Budget implementation from 40% to
less than 20% Per year

20. Roads from potholes to huge craters
and cut-offs

21. Economy from worse in Africa to
greatest in Africa on paper, but the
masses from poor to poorest

22. Defection of polititians from a few
tens to hundreds of persons, in some
cases thousands from one party to the
other. Nigerian soldiers now defect to
other countries

23. Transport fares, from a few
hundreds of Naira to several thousand of
Naira, on both air and road networks

24. Bribe takings from only police, now
includes all authorities, soldiers inclusive

25. ATM charges from zero to N150 per
transaction

26. New English phrase called 'Tactical
Manoeuvre' when soldiers are
deliberately dispatched with low grade
weapons to be killed by a well armed
"Herdsman"

27. Bribery scandal from few to
substantial

28. Police pension scam

29. Beans from 400-9000 painter

30. Cement from 1300-8000

31. Tomatoes from 3500-130k a basket

32. Yahaya Bello stole 80Billion of Kogis money

33. 17 generals killed under his watch in delta

34. Ram from 25k(GEJ) 150k-1million

35. Handling Herdsman/boko haram with kid gloves
only to report that the nation is winning
on insurgents.

36. Election ballot box snatching and grabbing all over Lagos/Rivers state

37. Lagos calabar highway worth trillions of dollars awarded to Tinubu's ally

38. 3.4bn missing under his watch in let's than 4months(SERAP sues Tinubu over alleged missing $3.4bn IMF loan)

39 Sweet National anthem changed to what I don know

May God give us the wisdom to vote the old fools out of office, and send him packing from
Aso-rock, to Osun state where he
came. come 2027

U will soon blame Tinubu for your mother cheating on your father

GOFRONT:
Chaiii

This scenario fits well for Tinubu and shetty.
Hopefully, this fate awaits them nextmonth.

Btw, watch as bloggers overflog the biography of this Malawian president in the coming days

Mark my words, u will surely die before Tinubu and Shetty

Omooloriredade:
My commentary on Oando results to date. Since it's Oando we are talking about here, permit me to start with disclaimers.

1. This is not a recommendation to buy, sell or hold Oando.
2. I don't have a finance or investment background and I'm not licensed to provide investment advice.
3. I could be sincerely wrong. I have been wrong many times before.
4. I'm not suggesting the market will rerate
Oando's SP off the back of results released to date.


Cons
1. Risk of Oando being delisted from the NGX. Process will be to acquire minority holdings before delisting. N7 as per SOA is highly unlikely if it were to eventuate.
2. Delay in finalisation of the Oando vs NAOC deal.
3. Negative equity / retained earnings.
4. Dividend income unlikely in the near future due to the above.
5. History of late filing of results / regulatory non-compliance.
6. Management have a reputation of being dodgy.
7. Oando carries sustantial debt and impairment in its books.
8. Production or operations interruptions due to militancy in the Niger-delta region.
9. If it remains listed, Oando needs to prove to the market that it has turned the corner and it's upwards and onwards from here. It remains to be seen.

Pros
1. Recent flurry of earnings release if sustained may signal a change for good.
2. Management has indicated a desire to release results as and when due according to latest media release.
3. A return to profitability in recent results (Audited FY'22 and unaudited FY'23).
4. The return to profitability is despite the reduction in the average realised prices of Oil, Gas and NGLs. Increased Oil production minimised the impact to revenue in the E&P segment.
5. Production can be cranked up to improve revenue and margins.
5. The E&P segment of the business is the "money spinner" - higher profit margins. The trading arm is the cash cow albeit with low margins. Please see note 3, page 23 of unaudited FY'23 results for details.
6. Management has indicated a desire to wind down trading in low margin refined crude products (PMS, diesel etc) hence the recent sell off of assets to NNPC and the noticeable decline in reported revenues in that business segment.
7. Back to the E&P, any increase in production will lead to remarkable profitability of the group. This may be reflected in the FY'24 results if Oando is able to secure Ministerial consent and regulatory approval required to close the NAOC deal. It will double production numbers instantly. Please refer note 17, page 27 & 28 of unaudited FY'23 results for details.
8. Management also noted the marginal production increase in was a result of repairs of shut in wells offset by persistent sabotage activities. If these wells come back online this FY, there may be a sustantial increase in production numbers leading to improved margins and sustained profitability.


Peer Comparison
1. Seplat is heads and shoulders above Oando in terms of quality of management, filing of results, regulatory compliance, business & organisational structure and operations.
2. Seplat's PE is 36.77 based on the FY'23 EPS of 92.75 and SP of N3,410.
3. Simplistic comparison only - if we assume this is a fair industry PE and forget Oando's woes for a second, the market could potentially value Oando at 36.77 x N6 = N220.62. However, in my opinion, this is practically impossible at this stage with a history of delayed and negative results, no dividends or returns to shareholders in years, negative equity etc.

Again, I'll make a reference to the E&P business segment of Oando Plc. The company (Oando) through it wholly owned subsidiary (Calabar Power Ltd) purchased the entire 2.22% holding of M1 Petroleum ltd in OEPH at a consideration of $1.70 per share (yes, the E&P is that valuable). Actually, I'm unable to confirm the MCAP based on this price (no idea of OEPH issued capital). Please refer to note 30, page 29. The E&P segment will be doing the heavy lifting for Oando plc into the future. It is the one to watch. Supply and trading will provide the astonomically high revenue figures but the margins have not been as imppressive.

Summarily, I believe it's all about the E&P business segment. Hence why the deal with NAOC is a game-changer for the company.

OANDO OANDO OANDO, what is the big deal about this company ? I don’t think any diligent investor should bother about that company

richiemcgold:

Oga go back to your station if you can't provide warrant.

All thanks to technology for this era of internet and mobile phones.

Which stupid warrant are u asking for, by the time you are sentenced to 20 years in jail, you will know that a warrant does not invalidate an arrest

Justiceganduje:
Only Yorubas?

Only yorubas, when u give a mouse a cookie, it will ask you for a glass of milk

nlfpmod:
Foundational Nupe Lawyer

The subject matter is what you failed to appreciate in your lengthy submission.
In Ado Bayero case the subject matter at the FHC is his fundamental Human Rights which he rightly filed at the Federal High Court

Amaa2019:
FCMB dividend don drop o

Finally mine entered when I bombarded cardinal stone registrars with emails

God1000:
This is sad, the way these foreigners treat us in Nigeria is too bad, they treat Nigerians so much contempt and disdain and get away with it most times.

They will enslave you in their country, they will still come to Nigeria and enslave our people again.

He murdered an innocent lady for refusing his advances, he should be given capital punishment

You people read and don’t think at all.
What was she doing on site with him if she truly refused his love advances? Did he kill her in her house? She has definitely collected the guy like mad and refused to give in or cheating on the guy forgetting that whites kill easily for betrayal etc
Coming here to come and give us cock and bull story, make una try to Dey use una brain abeg

oluwaseyi0:
Nonsense lawyer

So if they start fighting each other physically and start constituting nuisance in the society that will be better than involving police, right?

U are just stupid and refuse to be educated
So if someone owes you money, your remedy is to start fighting.
Get an education, it’s TikTok and Instagram that is your means of education

Racoon:
https://punchng.com/lagos-calabar-highway-telcos-fear-shutdown-as-construction-threatens-cables/

The writer of this post is extensively dumb, so because there will be service disruptions to telecommunications, a major road should not be constructed. Dey play? It’s obvious the enemies of this country are awake and seriously trying to bring us down, u have failed already

Ibrahimcoomasie:
Peter Obi

Is there any reason why you would post anything Obi says? Except of course he has improved your life in any way

fergie001:
Atiku Abubakar

Is it old age or something? Atiku used to be someone with finesse. He has suddenly become this irritating noise maker worse than that Kayode

Deltafirstson:
https://dailytrust.com/shettima-off-to-us-as-nigerians-await-tinubus-return/

They should continue to speculate on his whereabouts, imagine someone waking up in the morning and his purpose in life is to speculate the whereabouts of the president

Cindypresh:
Shut up if you can't say something reasonable.

Today kids are the most brilliant, Top scorers recording 365 and below was never seen in the history of jamb... during your own so called days, you people struggle to get ordinary 250.

So shut the hell u^

U are such a fool, today’s kids that parents pay through their noses so that they can be promoted through secondary school. They also arrange special centers with corrupt waec officials to get unfair results. They also end up in glorified high schools called private universities and u begin to see a school with over 300 first class. LWKMD. It’s obvious you are a product of that failed system or your father wrote jamb for you as well.

Lawalemi:
I cannot dispute it. Tinubu is highly cunny and greedy.

Obi and Atiku have seen clearly that Tinubu is their master. Definitely all the south south states will vote Tinubu come 2027 with the coastal road. With the badagry to sokoto road, he is going to divide the votes in the north yet again, the south west is a done deal, only the east will always be rebellious.
This is game of thrones and the man is in charge

OkpaNsukkaisBae:
almost all the foreign investors are leaving the country. The great Tinubulation is here.

You are so dumb, Seplat is an indigenous company, ExxonMobil has ripped off Nigeria and finally it’s leaving and you are complaining,

Ubdavis:
This project is very unnecessary

Go and say it in the south south states, you go collect woto work

atiku4President:
The trouble inherent in that project are too numerous to mention just as the problems associated with same will touch everyone. Obi is right after all. All those who come here to support this government of misplaced priority are evil and deluded.

Atiku for president, no comments