₦airaland Forum

nairalanda1:


The answer is simple

Once fuel starts coming out of the refinery, fuel prices will jump up to over 1000 naira. Otherwise, dangote refinery would be scrap in ten years time.

The tinubu government knows that if that happens it is game over for them. They may not even last till 2027.

That is the real reason..forget all this long story.

The government does not want to increase fuel price or remove subsidy. They know it would destroy them.

No, rather what I believe about all these is that,if dangote is allowed to freely fix his price it may be between #700-#800 per litre n majorly, dangote functioning fully will render all the numerous tank farms built for import business useless,cut out the massive corrupt benefits of the oil cabal n other looses,so they are all trying to ensure that dangote agreed to a price regime to cater for their continuos interests too.

Deepthoughts:
No, rather what I believe about all these is that,if dangote is allowed to freely fix his price it may be between #700-#800 per litre n majorly, dangote functioning fully will render all the numerous tank farms built for import business useless,cut out the massive corrupt benefits of the oil cabal n other looses,so they are all trying to ensure that dangote agreed to a price regime to cater for their continuos interests too.

Grandstar has broken down the cost of refining a liter of petrol. It is 720 naira. Add transport costs which are going to be high because diesel is not subsidized, and taxes and loan repayments , and you see the issue.

Babangidapikin:
Better go and take your drugs , because your responds has no value to anyone ..... is Peter Obi the only Obi in the world ...

you see the reason why I said your mother could have been barren?you think I give a fvck about peter obi?he can go and die for all I care.....but my statement stands,"your mother is childless if you're her only child"

I need job

youngreezy:
you see the reason why I said your mother could have been barren?you think I give a fvck about peter obi?he can go and die for all I care.....but my statement stands,"your mother is childless if you're her only child"

Go and take your drug

Feldie:
why will NNPC buy a filling station and then change its name to the filling station it bought? Does that sound sensible to you? Imagine Zenith bank buying my small local corporative and then then change their name to mine

The NNPC ,-OVH deal is not strange. All the noise is because of Oando's former stake in OVH.

Go and read about merger and acquisition of companies and also Corporate governance so you can understand better.
Also go and read the STB/UBA merger. How did Tony Elumelu who was the CEO of STB become the CEO of UBA after the deal!

Ojuntana:
Typical of APC bot
Swerve to ethnic lines to deride the messenger
If that doesn't work, try religion
If that doesn't work, gaslight the people that the failure is unavoidable
You guys are pure, unadulterated evil

I have explained the same NNPC- OVH deal to you but you would not listen or learn. You have the right to be unhappy with the useless president Tinubu and his bad governance and incompetence but dont bring in Oando just because of the name of the Oando CEO, Wale Tinubu

Obi de give your papa free fuel before work were other president gifting your father such ?

Zico5:
You are such an ignorant person. I'm a Yoruba guy living in Lagos. Hope Tinubu is giving u free fuel. Nonsense

God has bless my family we are not interested in nigeria's wealth:1.5 billoin naira worth of cars for madam,15trillion naira calabar -lagos coastal road given to friends and business partner,acquisiton of agi/Eni under 1year of administration,son wearing 400million naira worth of watch,owned oil wells in niger delta,acquire over100million dollars jet for his official,travelling on official engagements with children,a primitive capitalist and state capturing.

Wickedness of all times

mikeapollo:
I have explained the same NNPC- OVH deal to you but you would not listen or learn. You have the right to be unhappy with the useless president Tinubu and his bad governance and incompetence but dont bring in Oando just because of the name of the Oando CEO, Wale Tinubu

I guess you know more than the experts who are flagging the deal

Continue to bury your head in the sand

The OVH scandal is related to what is happening to Dangote because, after allegedly purchasing OVH (for how much, no one knows and commenters on the show said NNPC owes Nigerians an explanation and the transaction numbers), the NNPC then turned around and inexplicably asked a judge to dissolve its retail arm (NNPCL-Retail) and then, in a move that should be a first in history, turned over all of its retail operations (fuel stations and depots all over the country) to OVH to run.

This means that OVH staff and managers have replaced NNPCL staff at all NNPC fuel stations, which have now been rebranded as OVH. OVH, of course, emerged only a few years ago as a result of a merger involving OANDO, Velar, and Helios (hence the acronym). All three were small players in the retail (downstream) sector of the Nigerian oil industry, but with tentacles in fuel importation.

Dr. Hassan enjoined Nigerian journalists to investigate the true ownership of OVH at the Corporate Affairs Commission, the amount NNPC paid for OVH, the terms of the sale, and what, if any, benefits are accruing to OANDO, Tinubu’s family business, from NNPC’s purchase of OVH and its surrender of its sprawling retail business to the acquired entity.

Ojuntana:
I guess you know more than the experts who are flagging the deal

Continue to bury your head in the sand

The real experts are the people with industry knowledge who are investing in Oando shares and making billions of profits for themselves and family.

Let the critics and politicians do their investigations into Oando, NNPC-OVH deal and bring their report. That is not something to worry about.
Noise making does not mean telling the truth based on facts!

Sonyboom765:
Obi de give your papa free fuel before work were other president gifting your father such ?

I thought I'm chatting with a sensible person not knowing u are such uneducated and degrading fellow. Such a pity we have unintelligent person like u

mikeapollo:
The real experts are the people with industry knowledge who are investing in Oando shares and making billions of profits for themselves and family.

Let the critics and politicians do their investigations into Oando, NNPC-OVH deal and bring their report. That is not something to worry about.
Noise making does not mean telling the truth based on facts!

So the auditors who found the parlous financial state of Oando are not experts abi

The fact remains that Oando is profiting from the political power of Tinubu. The sudden resurgence after years of turbulence is not ordinary

Ojuntana:
So the auditors who found the parlous financial state of Oando are not experts abi

The fact remains that Oando is profiting from the political power of Tinubu. The sudden resurgence after years of turbulence is not ordinary

Who told you that Auditors opinion are static and does not change when the fortunes of a company improve over time ? Wait and read the same auditors opinion when Oando release their 2024 and 2025 results

mikeapollo:
Who told you that Auditors opinion are static and does not change when the fortunes of a company improve over time ? Wait and read the same auditors opinion when Oando release their 2024 and 2025 results

You're right

But by then Oando might have delisted and gone private

Ojuntana:
You're right

But by then Oando might have delisted and gone private

Lol. You are trying but don't seem to understand the whole picture of what is happening.
Oando is not delisting.
They cannot just delist without holding an AGM for the shareholders to vote and approve it, and the SEC to give approval too. It will take at least 2 years from now if Oando is to start the process on their own because it will be a different process from the one in court
If they try to delist, they must pay or buy each share at the highest price in the 6 months prior to the AGM that approved the delisting. And Oando share price keeps rising. So they may have to pay like N100 per share or more if they attempt that. The company is the one to lose if they try that. I bought my shares (millions of units) at N5, so if the company must pay me N100 per share for them to delist, why should I worry.? They need money to support the operations of the company so delisting will not help them for now.
Theses are some of the issues involved.The shares may even rise to N200 or N500 in few months time and they will have to pay the highest price in the sixil months before the AGM

nairalanda1:
Grandstar has broken down the cost of refining a liter of petrol. It is 720 naira. Add transport costs which are going to be high because diesel is not subsidized, and taxes and loan repayments , and you see the issue.

Let dangote speak for himself,but what I know is this,if dangote buys crude from abroad the refined pms would certainly be higher but if dangote can get crude from nnpc which is very doubtful,the refined pms would be lower in price,the government n nnpc are never sincere n transparent in this matter at all, it's such a shame.

nairalanda1:
There is a subsidy

Yeah. The moment they remove it, I guess we will be buying fuel at 2k per litre.
Tinubu announced fuel subsidy removal last year and price jumped to N500 per litre. Today, people are paying 1k per litre and you're still claiming subsidy. Are you saying that the price of crude oil per barrel has doubled between June last year and September this year? You should understand what you saying

mikeapollo:
Lol. You are trying but don't seem to understand the whole picture of what is happening.
Oando is not delisting.
They cannot just delist without holding an AGM for the shareholders to vote and approve it, and the SEC to give approval too. It will take at least 2 years from now if Oando is to start the process on their own because it will be a different process from the one in court
If they try to delist, they must pay or buy each share at the highest price in the 6 months prior to the AGM that approved the delisting. And Oando share price keeps rising. So they may have to pay like N100 per share or more if they attempt that. The company is the one to lose if they try that. I bought my shares (millions of units) at N5, so if the company must pay me N100 per share for them to delist, why should I worry.? They need money to support the operations of the company so delisting will not help them for now.
Theses are some of the issues involved.The shares may even rise to N200 or N500 in few months time and they will have to pay the highest price in the sixil months before the AGM

What was Oando share price six months ago

You asked for the timeline of the Oando deal.

You can check it here:
https://247ureports.com/2024/09/opl-245-tinubu-oando-eniagip-recent-oil-deals-what-nigerians-dont-know-by-ifeanyi-izeze/#google_vignette

Propaganda around

Ojuntana:
What was Oando share price six months ago

You asked for the timeline of the Oando deal.

You can check it here:
https://247ureports.com/2024/09/opl-245-tinubu-oando-eniagip-recent-oil-deals-what-nigerians-dont-know-by-ifeanyi-izeze/#google_vignette

Oando was selling around N10-N15 six months ago.

Provide the timelines of when other companies complied with the NUPRC requirements for them to sell their oil wells too, like ENI-Oando deal, and then compare to see if the allegations make sense or not.
Mobil had a case in court which affected and delayed the approval process. The issue was just recently settled out of court by the parties.

Wow very concise article here

OkCornel:
Dear Jagaban lovers,

What is the progress update on Tinubu’s eight point agenda he promised Nigerians in 2023? This is over one year now. How far?

1. food security;
2. poverty eradication;
3. growth,
4. job creation;
5. access to capital;
6. inclusion;
7. rule of law; and
8. fighting corruption

https://punchng.com/translating-tinubus-8-point-agenda-to-recovery/?amp

What about the 50 million jobs promised between 2023 to 2026? How many has Tinubu and his government created?

https://www.nairaland.com/7821154/tinubu-sets-3-year-economic-revival

This is a mirage already.