NNPC Ltd Acquires 380 Oando Stations, Other Assets Nationwide - Business (2)

NNPC Ltd Acquires 380 Oando Stations, Other Assets Nationwide - Business (2) - Nairaland

Nairaland Forum › Nairaland General › Business › NNPC Ltd Acquires 380 Oando Stations, Other Assets Nationwide (21518 Views)

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Re: NNPC Ltd Acquires 380 Oando Stations, Other Assets Nationwide by Offpoint1: 7:45am On Oct 04, 2022

No wonder I saw the Oando at Marina magically changed to NNPC

2 Likes

Re: NNPC Ltd Acquires 380 Oando Stations, Other Assets Nationwide by COMPAQ(m): 7:46am On Oct 04, 2022

tellsblinks:
https://dailytrust.com/just-in-nnpc-ltd-acquires-380-oando-stations-other-assets-nationwide

Retail can be a difficult business to manage and margins are not particularly high. With poor project execution discipline of Nigerian companies, I am not convinced that this is a good deal.

Why not leave retail for individuals and other companies to manage and do bigger projects that only a company with that size can do.

For eg as part of its energy transition, a 500MW solar plant with battery back up for grid stability in say Nasarawa state would be a game changer.

8 Likes 2 Shares

Re: NNPC Ltd Acquires 380 Oando Stations, Other Assets Nationwide by Nukilia: 7:47am On Oct 04, 2022

This is interesting...

Re: NNPC Ltd Acquires 380 Oando Stations, Other Assets Nationwide by chloride6: 7:51am On Oct 04, 2022

Stupid waste of money...

2 Likes

Re: NNPC Ltd Acquires 380 Oando Stations, Other Assets Nationwide by Guyman01: 7:53am On Oct 04, 2022

ManishSmith:
And how is oando acquisition an achievement?

Oando is a failed retail enterprise, Nigerians stopped buying fuel from them because virtually all their pumps are manipulated and they are known for cheating

3 Likes

Re: NNPC Ltd Acquires 380 Oando Stations, Other Assets Nationwide by ogbs2020: 7:53am On Oct 04, 2022

Shares in oando are gone

Re: NNPC Ltd Acquires 380 Oando Stations, Other Assets Nationwide by Dikaveli(m): 7:55am On Oct 04, 2022

flejnr2:
That’s the refinery you should repair bah

i tire you

Re: NNPC Ltd Acquires 380 Oando Stations, Other Assets Nationwide by Ixodes(m): 7:55am On Oct 04, 2022

NNPC gradually depreciating to a mere retail outlet waiting for Dangote refinery .

4 Likes

Re: NNPC Ltd Acquires 380 Oando Stations, Other Assets Nationwide by prophetfire: 7:59am On Oct 04, 2022

orisa37:
THIS IS NNPC PLC NOT LTD.
PLEASE CORRECT THE IN BALANCE NOW AND LET US KNOW WHO WE ARE DEALING WITH.
AND FOR NNPC LTD TO BUY 380 OANDO PLC FACILITIES ALL OVER NIGERIA UNSUNG IS A DISASTER KNOCKING.
PLEASE WHAT IS HAPPENING TO NIGERIA TOWARDS 2023?

OBJ IBB AA AND OBJ AGAIN PLEASE ABOVE FOR YOUR NECESSARY ACTIONS AND FOLLOW UP.

. Just like you, I am curious. If Oando couldn't handle those, is it Nnpc that's more of a government parastatal that can handle them? I suspect a situation where they have used government money to bail out a sick company and they would dump the whole waste on the government.
Many NNpc fuel stations across the country are idle and shut down, with no workers and products to sell and they are acquiring more?
This is a fraudulent acquisition.

7 Likes 2 Shares

Re: NNPC Ltd Acquires 380 Oando Stations, Other Assets Nationwide by Creeknigga(m): 8:00am On Oct 04, 2022

tellsblinks:
https://dailytrust.com/just-in-nnpc-ltd-acquires-380-oando-stations-other-assets-nationwide

Running a petrol station (retail outlet) in this present Nigeria is not a good or profitable venture.
I beleive it is same reason OandO is selling.

Vote Peter Obi for President

2 Likes

Re: NNPC Ltd Acquires 380 Oando Stations, Other Assets Nationwide by tyinfinity: 8:00am On Oct 04, 2022

Bitter obituary Pandora does not support production but in importation.

Re: NNPC Ltd Acquires 380 Oando Stations, Other Assets Nationwide by japhethGold: 8:03am On Oct 04, 2022

These old generation who used tribalism as a weapon of accelerating underdevelopment and mass poverty in Nigerian are incompetent. They have nothing to offer to make Nigeria make progress. It is a shame and pity.

obi58:
Is it not ironical that the same NNPC who is looking to privatise the 4 national refineries which should secure our domestic oil production is instead diverting funds to buying more downstream fuel stations which will be serviced by either imported fuel or fuel from Dangotes refinery.

Talk about misplaced priorities

1 Like

Re: NNPC Ltd Acquires 380 Oando Stations, Other Assets Nationwide by Creeknigga(m): 8:08am On Oct 04, 2022*

obi58:
Is it not ironical that the same NNPC who is looking to privatise the 4 national refineries which should secure our domestic oil production is instead diverting funds to buying more downstream fuel stations which will be serviced by either imported fuel or fuel from Dangotes refinery.

Talk about misplaced priorities

Apart from LPG, is the downstream oil sector profitable that will warrant them buying 380 outlets?
They just acquired these assets for selfish gain.
We will soon hear of low profit or recorded losses

1 Like 1 Share

Re: NNPC Ltd Acquires 380 Oando Stations, Other Assets Nationwide by RepoMan007: 8:10am On Oct 04, 2022

He talked about making money from this business.
Why not govt go into other businesses and accept that it is very possible for govt to engage in business along side private individuals?
When it comes to aspect that make life easy for the masses, they say, govt has no business being in business but now the NNPCL is in business of petroleum. Why?
Let govt enter back into Agric processing, mining, and more to take control of the economy.

1 Like

Re: NNPC Ltd Acquires 380 Oando Stations, Other Assets Nationwide by Parachoko: 8:17am On Oct 04, 2022

prophetfire:
.
Many NNpc fuel stations across the country are idle and shut down, with no workers and products to sell and they are acquiring more?

Which state do you live?

Because here in Lagos, I have never experience this in any NNPC filling station

Re: NNPC Ltd Acquires 380 Oando Stations, Other Assets Nationwide by Jostoman: 8:18am On Oct 04, 2022

They are trying to protect Lagos landlord business

1 Like

Re: NNPC Ltd Acquires 380 Oando Stations, Other Assets Nationwide by Bontafa: 8:20am On Oct 04, 2022

Parachoko:
Which state do you live?

Because here in Lagos, I have never experience this in any NNPC filling station

The whole of lag or ?

Nnpc dey fold in case you non know asin fold mechanic go they repair motor there .

Re: NNPC Ltd Acquires 380 Oando Stations, Other Assets Nationwide by prophetfire: 8:23am On Oct 04, 2022

Parachoko:
Which state do you live?

Because here in Lagos, I have never experience this in any NNPC filling station

In Rivers State and Imo state. The two at Elele Rivers are not working, same as in other parts of Obioakpor and East west Road towards Eleme-Onne.
One big one opposite Assumpta Cathedral in Owerri has been shut for years.

2 Likes

Re: NNPC Ltd Acquires 380 Oando Stations, Other Assets Nationwide by jaxxy(m): 8:30am On Oct 04, 2022

Stupid corrupt fake company.

1 Like

Re: NNPC Ltd Acquires 380 Oando Stations, Other Assets Nationwide by guru90: 8:32am On Oct 04, 2022

flejnr2:
That’s the refinery you should repair bah

hahahahahahaha...

Abi.... They are stil doing all unnecessary things abi......

1 Like

Re: NNPC Ltd Acquires 380 Oando Stations, Other Assets Nationwide by sulaak(m): 8:32am On Oct 04, 2022

orisa37:
THIS IS NNPC PLC NOT LTD.
PLEASE CORRECT THE IN BALANCE NOW AND LET US KNOW WHO WE ARE DEALING WITH.
AND FOR NNPC LTD TO BUY 380 OANDO PLC FACILITIES ALL OVER NIGERIA UNSUNG IS A DISASTER KNOCKING.
PLEASE WHAT IS HAPPENING TO NIGERIA TOWARDS 2023?

OBJ IBB AA AND OBJ AGAIN PLEASE ABOVE FOR YOUR NECESSARY ACTIONS AND FOLLOW UP.

NNPC is not listed on the stock market so it's a Limited Liability Company and not a Public listed company. If NNPC was a PLC Kyari would have been sacked for incompetence.

What is happening is that Buhari and his team are cashing out big time. Spending $400 million on for 5% stake on Nigeria Air when $400 million will build 5-10 modular oil refineries that Nigeria needs to cut refined oil import.

3 Likes 2 Shares

Re: NNPC Ltd Acquires 380 Oando Stations, Other Assets Nationwide by Freelane33(m): 8:32am On Oct 04, 2022

Big fish

Re: NNPC Ltd Acquires 380 Oando Stations, Other Assets Nationwide by OniyideAmplify(m): 8:33am On Oct 04, 2022

Wonder shall never end.

Na Niger-Delta get oil, na Aboki dem dey run am.

No be juju be that?

Just as using Lalong as sport minister for where Odegbami or Oliseh dey

1 Like

Re: NNPC Ltd Acquires 380 Oando Stations, Other Assets Nationwide by Bfly: 8:43am On Oct 04, 2022

Nigeria economy as regard crude oil is like a farmer that farmed a maize farm upon harvest he sold the farmland to a retailer and then started buying from thesame retailer for his own consumption.

1 Like

Re: NNPC Ltd Acquires 380 Oando Stations, Other Assets Nationwide by Billygee2u: 8:44am On Oct 04, 2022

Akwamkpuruamu:
Until they start Petroleum refining here, all these means nothing

Re: NNPC Ltd Acquires 380 Oando Stations, Other Assets Nationwide by sochijioke(m): 8:46am On Oct 04, 2022

tellsblinks:
https://dailytrust.com/just-in-nnpc-ltd-acquires-380-oando-stations-other-assets-nationwide

DUE TO UPRISING QUESTIONS BY TOMORROW YOU WILL HEAR ITS NOT TRUE AND THAT PEOPLE SHOULD DEBUNK THE NEWS ITS A RUMORS.

Re: NNPC Ltd Acquires 380 Oando Stations, Other Assets Nationwide by altteemy(m): 8:49am On Oct 04, 2022

obajoey:
Something is happening

Once subsidy is fully removed by mid 2023, it will be an open market for anyone to sell fuel at any price they desire.

With more outlets also in the competition, fuel stations will think well before offering fuel at a high disparity to that of NNPC prices.

A nice idea looking at it

1 Like 1 Share

Re: NNPC Ltd Acquires 380 Oando Stations, Other Assets Nationwide by Oluwaseunomo: 8:49am On Oct 04, 2022

saintjimos:
If this will make their shares in the stock market to raise then it's a welcome development

It should

Re: NNPC Ltd Acquires 380 Oando Stations, Other Assets Nationwide by Uzosaint(m): 8:50am On Oct 04, 2022

Who owns the largest shares@oando huh

Asiwaju Bola Ahmed Tinubu (that's why one of his close relatives Wale Tinubu)is the MD.
NNPC I hail thee!!!

1 Like

Re: NNPC Ltd Acquires 380 Oando Stations, Other Assets Nationwide by elbangeez: 9:02am On Oct 04, 2022

You understand the move, the reason why Nigeria is paying huge amount of money as subsidy is because the fuel is being smuggled out to Neighbouring countries, and how this is done is through these moribund filling stations. You will see a filling station that has not functioned for more than 3 years but it always have a dispatched subsidized fuel to its name that will later be diverted to neighbouring countries for a bigger gain. NNPC want to acquire as much filling stations possible then deregulate the sector, allowing every marketer get his fuel, and since NNPC has more stations and shipping companies this will make many of its competitors run out of business. Because you cant buy a liter of petrol from lets say MRS at 350 naira/liter when NNPC filling stations are selling at 250Naira/liter

altteemy:
Once subsidy is fully removed by mid 2023, it will be an open market for anyone to sell fuel at any price they desire.

With more outlets also in the competition, fuel stations will think well before offering fuel at a high disparity to that of NNPC prices.

A nice idea looking at it

3 Likes 2 Shares

Re: NNPC Ltd Acquires 380 Oando Stations, Other Assets Nationwide by Buckeyemedia1: 9:05am On Oct 04, 2022

flejnr2:
That’s the refinery you should repair bah

Are you still living in the past? Comatose refineries that NNPC is making preparations to sell next year.

Re: NNPC Ltd Acquires 380 Oando Stations, Other Assets Nationwide by Eriokanmi: 9:06am On Oct 04, 2022

Oando isn't performing. No wonder they've not been paying dividends to me for years? It's well

1 2 3 Reply

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