₦airaland Forum

It is becoming realistic

yerobas are out for dangote

OPICANTO2223:
Wisdom in display. Dangote dangote dangote really monopolized this nation through government but currently he is sweating because Tinubu want create a level play ground for all investors.

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.

Yet Yorubas want to Monopolize everything including our seaport, oil and gas industry

Freestar:
Lol. You are indeed naive if you think Tinubu is

Well I accepted that am naive provided it comes from someone highly inconsequential like you. Your spewing will always be right here.

Hmm

The question is where does the Malta blending company get their crude from? And why are we suddenly importing fuel from them and paying criminal subsidy when we have dangote refinery?

Wonderful write-up. I had been thinking about uncovering the truth behind this matter. You are simply amazing....

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!

Thank you. In the next few days you will see the staggering number of posts that will be made by their e-rats to counter or deflect attention about the Tinubu-Oando-malta connection. Nigerians won't be fooled. We saw him do this in Lagos, and it's becoming obvious why he fought tooth and nail for the presidency. To make Nigeria his own personal property.

alizma:
This is absolute nonsense, you can't be encouraging importation and calling it end of monopoly for a man who has giving the country what our government has not been able to give us. I will take it to be a fight against Dangote monopoly is this is between Dangote and local refineries. Make our refineries work and if that is not enough, encourage more private individuals to venture into refining crude oil in Nigeria, anything short of this is a selfish agenda.

As per the Tinubu style, we are seeing the sudden frenzy of activity to discredit Dangote and push the narrative that Tinubu means well for Nigeria. Just Look at all the well-known monikers up there in Their echo chamber trying to deflect attention away from Tinubu's attempt to make Nigerians slaves to his family. Lol

Reading this was time consuming, but it was worth reading.

It's actually an upcoming monopolist trying to topple the reigning monopolist

My grouse with him is that he never gives enough back to the society .
Greedy man

EdgeUp:
Dangote being a brutal capitalist aside, NNPC is just a cesspit of corruption.

Tinubu will show Nigerians that he means well for the country if he fires the entire first and second level management team of NNPC and order their investigation as well.

That is one of the things that can be done to redeem the current socio-economic quagmire

I just went through the findings of the Malta blending plant and if truly the plant belong to the tinubu family then nothing will happen to nnpc management. Fuel imports from Malta to Nigeria Rose to 2b dollars last year and fingers are pointing to the tinubu family. If Nigeria government is still paying secret subsidy then this fight between dangote and NNPCL is not over.

This article is trash

Wisdomkosi:
Source : https://politicsnigeria.com/dangote-end-of-the-road-for-a-monopolist-by-soji-adekunmbi/

What the OP wrote showed that he is fronting for some cabals that keep recycling old infomercial about Dangote and monopoly. You have at least three credible companies in Cement manufacturing, many in the food industry. So tell me how can Dangote monopolize in such a free economy.

On the issue of refinery, for a change, a business man was strong enough to fund and build a refinery in Nigeria to service Nigerians and remove the shame of a country that produces raw materials for many years and yet couldn’t manage a functioning refinery. DR crashed the price of diesel and is set to do same, until the Petroleum cabals now gang up against DR using the agencies of the State to frustrate his action. DR has been in planning and construction for over 10-years, enough time to make adjustment in crude oil sales to accommodate the refinery, not in a preferential treatment but sell to the refinery same as it’s been sold to overseas buyers without the shipping/transport cost and in effect, DR will crash the petrol selling price nationwide, all to the advantage of the common citizens. The beneficiaries of the fraudulent subsidies, those in authority that stole our commonwealth and establish refineries outside Nigeria now all ganged up, again using the instrument of the State to frustrate him. It is the Nigerian citizens that are loosing in this and not Dangote.

The man Dangote cannot and will not be frustrated. He is a unique person that believes in Nigeria and has and will continue to invest in the Nigerian economy. Tell your friends and people that stole money such as Atiku, OBI, and their likes to do same, they should bring the stolen money from Dubai, Pandora, etc and put it to work in Nigeria.

As to your claim that “Dangote should do the needful by selling shares to Nigerians as it is obvious given the intricate nature of business in the oil and gas sector particularly the huge capital outlay required to keep a business going, he cannot pull it off alone.“. Dangote has stated many times without number that DR will be listed on the Nigerian Stock Exchange for anyone, including you to buy into the company. That even shows how patriotic he is, for he could have listed in the NYSE or the LSE.

OPICANTO2223:
Well I accepted that am naive provided it comes from someone highly inconsequential like you. Your spewing will always be right here.

Look at this Neanderthal talking about inconsequential.

If you were of any consequence you would not make the obviously unintelligent statement that you made in your post.

Tinubu paid deceiver. Please run along. You have been measured, weighed and found wanting. Bloody dolt.

LockDown69:
This article is trash

From the stable of Tinubu and sons.

So according to the writer, it's better for FG to be subsidising fuel from foreign countries than fuel produced locally
Whether we like it or not, FG will continue to subside fuel for a very long time to come.
If the writer believes it's better for the cash crunch FG to send our money abroad, then I won't blame people who insults Yoruba people as elenu meji.

E don enjoy too much
Over pampering don master am.
Make he face real business burden like most Nigerians without government backing had been facing....
DAVIDO don kukuma talk am say
DEM GO FEEL IT
DANGOTE SEF GO FEEL AM.

Make everybody operate business normal normal, no OJORO
Make we see who Sabi run things true true.

Crude oil. Na wa o. Tinumbu is indeed continuing from where Buhari stopped. Taking loans to share and repaying with crude oil.

Trash!!!

budaatum:
I do agree with this part. I also think NNPC should be sold to us Nigerians too. And no, I don't mean to the rich and wealthy alone. Say like 10% of the shares should be allocated to every living Nigerian with provision we can't sell for 10 years. Our vested interest might make us force NNPC to operate better.

Dangote refinery is expected to be listed on NSE (Nigeria) and possibly LSE (London) vs NYSE (source is unreliable) sometime next year. The earliest time being Q2 2025 . 10% allocation is very unlikely to work. Instead, the respective sub-regional government i.e state and local government should allocate a percentage (maybe 2-5%) of their monthly FAAC allocation to purchase shares when it gets listed. SO dividend and capital appreciation can be used as the respective sub-regional government sovereign wealth fund for infrastructural development Same should go for the general public.

NNPCL is expected to be listed as well. sub regional government should allocate some funds for acquisition of shares as well. like you rightly said, NNPCL may be a thorn in the flesh of the president if he doesn't cleanse it once and for all like he did with Emefiele's CBN.

** To avoid knee-jerk reaction, start investigation of the oil upstream and downstream regulators as well as NNPC. Work hand-in -glove with the report of the senate adhoc committee report in about 2-3 weeks , this will be a base to get EFCC to work. \

**replace the heads and subordinates of the regulatory agencies and NNPC found as accomplice in mismanagement or illegality. As for Civil servants accomplice, Nigerian Civil service commission will be needed to ratify any termination of those found guilty and hand them over for further prosecution.

** Anything short of the AGF prosecuting for Death penalty or life imprisonment of the offenders means we are not ready to move forward

If i was a civil servant in NNPC, Whistle blowing in this three institution (NNPC, upstream and downstream regulatory ) is enough as my side hustle to root out the illegality going on there. 1 or 2 Ethical hackers will do the online crawling while i do the manual labour. FG go tire to pay me Ransom Downside: You may not be residing in Nigeria for the rest of your life though.

As it stands now, Tinubu's Yoruba Ronu foot soldiers are confused as this battle is between their fake friends Dangote (Fulani) and their demigod Tinubu.


Deep down their hateful, cunning hearts, they are wishing this is between Tinubu and Peter Obi or Tinubu and Innoson or Tinubu/FG vs Allen Onyema's Air Peace, is God not wonderful



Demonic people that live on media lies and propaganda to deceive the rest of gullible Nigerians except Igbos and reason they hate Igbos with passion because they know say Igbos sabi their cunning nature pass them

Everyone is just doing their business

As individual lawmakers, what I should worry more about the impact i make in your constituency, state and country as well as the kind of image i build for myselves. With such array of accomplished your men and women educated from the best institutions in the world, I will like to see presidents of Nigeria emerge from this chamber, As I take my seat, let me make a few suggestions
for finances of the National Assembly, we must also understand that some of the choices members make tar this critical arm of government. Voting billions of Naira to order for new cars at a time the economy is going through a recession and majority of Nigerians experience difficult times, has not helped the country rather invest this money of industry machine because industry is the bedrock of developed any meaningful country.
Around the world, the legislature is generally the least rated of all arms of government and national institutions. Survey figures compiled by the International Institute for Democracy and Electoral Assistance (IDEA) which was subsequently reproduced in the IPU’s publication on parliament and democracy in the 21st century revealed that, across the world, parliaments were less trusted than other institutions of government.
Interestingly, that has been the pattern from the past to the present.
In the particular case of our country, you make all the difference because whenever civil rule was interrupted in the past by the military, the only arm of government that was usually dismantled was the parliament. That is no surprise because this is the only institution where representatives are elected to discuss the needs of citizens, forge national policies and resolve whatever conflicts arise within society through dialogue and compromise.

spiSeyi:
Dangote is and was never a monopolists but it's corruption that paint him that color because a lot of Nigerian politicians have high stakes in Dangote investments hence they will prevent any other biz that will stand there way. I think this is the right time for PBAT to support Dangote refinery and let him sell us PMS within 400-500 NGN, the removed subsidy should be diverted to the support of local refineries.
Finally NNPCL should be privatized and have all it board changed and see how economy begins to gain momentum.

You get it

Ori naijiria ti gbabode...but how come GOD did not even look our side like this?

The writer is an Abuja based public policy analyst .


The writer has no name. With this kind of sweet narrative writing,the writer is hiding his/her name. This tinubu government nawa

Dangote group are elite northerners period. Baba just wan review were them go put the knife for the bread. The group carry am go them side too much. Baba just want shift am come center now that he owns the high ground as president. Them just wan renegotiate terms that all

Dangote is asking for an additional $6/barrel discount and wants to pay in Naira. The reality is that no one will sell crude oil to him in Naira because oil blocks are awarded in dollars, signature bonus are paid in dollars, seismic survey and aeromagnetic survey with gravity data are acquired in dollars, interpretation of the data is 80% dollars, oil wells are drilled in dollars, production facilities are constructed in dollars and so on.

This simply means that for dangote to get crude he still has to source for FX ,this here is the genesis of the issue because this will continue to put pressure on our FX and would drastically affect the price.