₦airaland Forum

SonofElElyonRet:
Meaningless gibberish
By the way, I have no problem keeping body and soul together...
Why are you following me everywhere on nairaland and quoting all my comments? O nidi ni?

See this charge and bail
Who dey follow u.When I made post about the Mill did I quote u.why did u jump on it.
U go come again

mikeapollo:
Dangote refinery does not pay as much as people may expect.

I think salaries are more about the industry than the organization.

DIL playing in the oil and gas sector would definitely have to pay something more commensurate than what's obtainable in the manufacturing sector.

Like KPMG, PwC, salaries are identical,
NESTLE, WAMCO too.


When dollar was 160, I know Total Entry level pay was around 800k. (5k dollars per month)

In today's naira, entry level at Shell, Chevron, Total should be like 8m per month or N96m per annum.


That's why I thought N20m might be conservative for Dangote Refinery.

It's a big deal ooo. Why do you think Bloomberg reported on it internationally? They are showing foreign investors where their money would go if they invest in Nigerian banks.

RodgersAkpafu:
This is not a big deal
Why are people making an issue out of it ?

awesomeJ:
I think salaries are more about the industry than the organization.

DIL playing in the oil and gas sector would definitely have to pay something more commensurate than what's obtainable in the manufacturing sector.

Like KPMG, PwC, salaries are identical,
NESTLE, WAMCO too.


When dollar was 160, I know Total Entry level pay was around 800k. (5k dollars per month)

In today's naira, entry level at Shell, Chevron, Total should be like 8m per month or N96m per annum.


That's why I thought N20m might be conservative for Dangote Refinery.

I doubt those entry level staff would take home 20m PA, if that was indeed the case and they were offered 5years upfront. I will gladly take it, put it in a dividend paying stock and Bonds while i update my CV to look for a new job. That will be free money

Just goes to show you the mind set of arrogance and power drunkenness of our union leaders. They probably never bothered to consult the workers and gave them the chance to decide for themselves. What was important for the leaders was to show that they got their way and that Dangote was forced to take the staff back.

emmanuelewumi:
If this report from Premium Times is true that PENGASSAN refused this offer, then something is wrong with them.

So being transferred to other businesses in Dangote Group is a better option.


It shows that those guys don't actually possess the so called rare talents, they don't think they have a highly marketable skills or they don't know how to multiply money

ojeysky:
I doubt those entry level staff would take home 20m PA, if that was indeed the case and they were offered 5years upfront. I will gladly take it, put it in a dividend paying stock and Bonds while i update my CV to look for a new job. That will be free money

Abi? N100m free money is a lot. Severance for just 2-3 years work.

20m per annum
Except if there's indeed a huge disparity between what IOCs pay and what Nigerian players pay.

PENGASSAN president said on TV that the salaries of the entire 800 people at Dangote is less than what just 20 people earn in an IOC.
Maybe that's true.

A difference of 40x!

@handsomebolanle do you have comments?

awesomeJ:
Abi? N100m free money is a lot. Severance for just 2-3 years work.

20m per annum
Except if there's indeed a huge disparity between what IOCs pay and what Nigerian players pay.

PENGASSAN president said on TV that the salaries of the entire 800 people at Dangote is less than what just 20 people earn in an IOC.
Maybe that's true.

A difference of 40x!

@handsomebolanle do you have comments?

I don't get it.This dangota staffs that whr sacked are they not just working at the refinery. Abi dangota is into crude oil exploration whr this guys then worked. I was ment to understand it is the guys working in oil exploration that are paid so heavy.The guys I knew those days that worked in kaduna refinery whr comfortable but not mega rich.
Na those school mates that worked off/on shore that saw mega money

https://www.youtube.com/watch?v=VjyZNHyNCkE?si=phSWAkR3pLzmcRTu

Detoured a bit into Julius Berger numbers after walking through the daily summary

Streetinvestor2:
I don't get it.This dangota staffs that whr sacked are they not just working at the refinery. Abi dangota is into crude oil exploration whr this guys then worked. I was ment to understand it is the guys working in oil exploration that are paid so heavy.The guys I knew those days that worked in kaduna refinery whr comfortable but not mega rich.
Na those school mates that worked off/on shore that saw mega money

You're correct.

My thinking is: those in the downstream won't be too far off.

It's why I felt they should get N20m if the onshore guys are getting N96m.

For instance, I know Total downstream paid more than 30% of what the upstream guys got.

awesomeJ:
I think salaries are more about the industry than the organization.

DIL playing in the oil and gas sector would definitely have to pay something more commensurate than what's obtainable in the manufacturing sector.

Like KPMG, PwC, salaries are identical,
NESTLE, WAMCO too.


When dollar was 160, I know Total Entry level pay was around 800k. (5k dollars per month)

In today's naira, entry level at Shell, Chevron, Total should be like 8m per month or N96m per annum.


That's why I thought N20m might be conservative for Dangote Refinery.

Alhaji refinery pays 400k Gross per month.

Digitron:
Alhaji refinery pays 400k Gross per month.

For truck drivers

Digitron:
Alhaji refinery pays 400k Gross per month.

If this is for senior staff (PENGASSAN members),
Then it's more than ridiculous.

$260 gross.

So after pension and taxes, take home will then be $200??

That's why I will wake up at 5am every day

After 5 years of Laplace?

awesomeJ:
I think salaries are more about the industry than the organization.

DIL playing in the oil and gas sector would definitely have to pay something more commensurate than what's obtainable in the manufacturing sector.

Like KPMG, PwC, salaries are identical,
NESTLE, WAMCO too.


When dollar was 160, I know Total Entry level pay was around 800k. (5k dollars per month)

In today's naira, entry level at Shell, Chevron, Total should be like 8m per month or N96m per annum.


That's why I thought N20m might be conservative for Dangote Refinery.

Shell, Chevron and the likes operate in the upstream and they make more profit than those operating refineries (midstream) and those selling to final consumers (downstream).
I did my internship at the Warri NNPC refinery some years back (just before Buhari) and the salaries of staffs generally were ridiculously low at the time.
As Interns, we got around 13k then (65 dollars) and less than the 18k minimum wage. Although we got provisions and milk once in a while as added benefits 🤣🥰

GeneralDae:
Shell, Chevron and the likes operate in the upstream and they make more profit than those operating refineries (midstream) and those selling to final consumers (downstream).
I did my internship at the Warri NNPC refinery some years back (just before Buhari) and the salaries of staffs generally were ridiculously low at the time. As Interns, we got around 13k then.

Wow...
The income pyramid in this country probably has a much slimmer top than I thought be that.

But anyways, back to the point,

Even if na 700k per month.

That's still 42m.

N42m is more than significant for anyone who was willing to work a day job for 700k per month.

At 500k, N30m should be a lot of money for anyone willing to navigate Lagos traffic for a whole month before they get 500k

awesomeJ:
You can use the withdrawal request feature on iTrade, but be aware that the processing is still manual.

You can also just send an email to info@morgancapitalgroup.com


If you do either of these and do not get an email acknowledging your request within 2 hours, you can follow up with a call to them

I've seen the withdraw request but I am only seeing an account number that I don't know or don't have access to and the drop down how can I add an account number let say A zenith bank or UBA there

Streetinvestor2:
See this charge and bail
Who dey follow u.When I made post about the Mill did I quote u.why did u jump on it.
U go come again

Derangement.
Only did so to disprove your fake news about Ellah's oil mill. Guess you're still searching for the pills

RodgersAkpafu:
This is not a big deal
Why are people making an issue out of it ?

Exactly my thought.
Don't we as investors see movement of their shares dealings in Multimillions and billions of naira on Ngx disclosure plus other reserved share bonuses due to KPI they merited?
If ACCESS HoldCo and CBN don't see issues, then it's probably legit.

I get It may rub off wrongly due to AccessBank performance.
But Access Holdco performance
has been expected from 2023.
They hinted investors themselves when they projected their future activity until 2027. That's exactly what's playing out now. It's no surprise.
I get the timing of the may look insensitive to the shareholders at present especially as their Q2 isn't out yet.
But the attention is getting too much and unnecessary. 🤷

mygee2:
I've seen the withdraw request but I am only seeing an account number that I don't know or don't have access to and the drop down how can I add an account number let say A zenith bank or UBA there

As far as I know, the withdrawal process isn't yet automated, so I think it's just best you send them an email stating how much you want them to pay into your bank account.

Then follow up with a phone call.

Agbalowomeri:
For truck drivers

Which truck driver dey see 400k.Why u think they use the truck to carry goods way no be alhaji own after doing official engagement. The only thing u don't do many trips in month. Some na like 4 or 5 trips in a month

awesomeJ:
As far as I know, the withdrawal process isn't yet automated, so I think it's just best you send them an email stating how much you want them to pay into your bank account.

Then follow up with a phone call.

Thank you

Raider76:
It's a big deal ooo. Why do you think Bloomberg reported on it internationally? They are showing foreign investors where their money would go if they invest in Nigerian banks.

I have a slightly differing view

The bolded is your stockbroking account number (not your bank account number).

Also, you only need to input the amount you want to withdraw in the space provided.

The funds will be credited to the bank account you filled when you opened that stockbroking account...

mygee2:
I've seen the withdraw request but I am only seeing an account number that I don't know or don't have access to and the drop down how can I add an account number let say A zenith bank or UBA there

awesomeJ:
If this is for senior staff (PENGASSAN members),
Then it's more than ridiculous.

$260 gross.

So after pension and taxes, take home will then be $200??

That's why I will wake up at 5am every day

After 5 years of Laplace?

Yes, I can also confirm this. Entry-level engineers at Dangote Refinery earned around ₦400K gross per month. Some had no staff bus privileges or other perks either. I know an entry-level mechanical engineer working there who tried to switch to a top FMCG multinational earlier this year because of the poor welfare conditions. That’s why I can’t put all the blame on the 800 9ja staff for joining PENGASSAN because they really should’ve been paid more and offered a better welfare package (at least to match the Industry and Company’s status).

As for the five-year salary severance package, that’s mostly just a rumor. And even at that, the claim was that it’d be paid monthly, not as a lump sum, possibly with a clause to stop payment once they secure another job before the period ends. So let’s take it easy with the assumptions brother .

Potvalor:
Yes, I can also confirm this. Entry-level engineers at Dangote Refinery earned around ₦400K gross per month. Some had no staff bus privileges or other perks either. I know an entry-level mechanical engineer working there who tried to switch to a top FMCG multinational earlier this year because of the poor welfare conditions. That’s why I can’t put all the blame on the 800 9ja staff for joining PENGASSAN because they really should’ve been paid more and offered a better welfare package (at least to match the Industry and Company’s status).

As for the five-year salary severance package, that’s mostly just a rumor. And even at that, the claim was that it’d be paid monthly, not as a lump sum, possibly with a clause to stop payment once they secure another job before the period ends. So let’s take it easy with the assumptions brother .

Did they not know the salary before joining?

nosa2:
Did they not know the salary before joining?

A lot of fresh graduates will jump on any decent first offer they can get. Dangote Refinery carried out a fairly large-scale recruitment in 2023–2024 and attracted some of Nigeria’s top talent, including many first-class engineering graduates. So I’d imagine that 1–2 years into the job, some of those guys might start regretting their choices, and want a better pay package, especially when they compare their salaries with their lucky peers who joined proper oil and gas companies. I’ve heard that some indigenous firms like Aradel or Seplat pay around 5–8 times of Dangote Refinery (at least at entry-level, with added benefits too). So the PENGASSAN unionism might have been their solution to negotiate a better pay package, though I am not necessarily supporting their choices.

The main objective of my earlier post wasn’t to fault Dangote, it was just back up the ₦400K salary someone first mentioned.

Potvalor:
though I am not necessarily supporting their choices.

The main objective of my earlier post wasn’t to fault Dangote, it was just back up the ₦400K salary someone first mentioned.

Thank you for this enlightenment. You’ve spoken well

Potvalor:
A lot of fresh graduates will jump on any decent first offer they can get. Dangote Refinery carried out a fairly large-scale recruitment in 2023–2024 and attracted some of Nigeria’s top talent, including many first-class engineering graduates. So I’d imagine that 1–2 years into the job, some of those guys might start regretting their choices, and want a better pay package, especially when they compare their salaries with their lucky peers who joined proper oil and gas companies. I’ve heard that some indigenous firms like Aradel or Seplat pay around 5–8 times of Dangote Refinery (at least at entry-level, with added benefits too). So the PENGASSAN unionism might have been their solution to negotiate a better pay package, though I am not necessarily supporting their choices.

The main objective of my earlier post wasn’t to fault Dangote, it was just back up the ₦400K salary someone first mentioned.

Is it illegal for them to resign?

Potvalor:
Yes, I can also confirm this. Entry-level engineers at Dangote Refinery earned around ₦400K gross per month. Some had no staff bus privileges or other perks either. I know an entry-level mechanical engineer working there who tried to switch to a top FMCG multinational earlier this year because of the poor welfare conditions. That’s why I can’t put all the blame on the 800 9ja staff for joining PENGASSAN because they really should’ve been paid more and offered a better welfare package (at least to match the Industry and Company’s status).

As for the five-year salary severance package, that’s mostly just a rumor. And even at that, the claim was that it’d be paid monthly, not as a lump sum, possibly with a clause to stop payment once they secure another job before the period ends. So let’s take it easy with the assumptions brother .

Not assumptions brother, rather hypotheticals.

Thank you for giving more insights.
I really appreciate it.

Potvalor:
The main objective of my earlier post wasn’t to fault Dangote, it was just back up the ₦400K salary someone first mentioned.

💯💯

KarlTom:
The bolded is your stockbroking account number (not your bank account number).

Also, you only need to input the amount you want to withdraw in the space provided.

The funds will be credited to the bank account you filled when you opened that stockbroking account...

Thanks Boss