₦airaland Forum

handsomebolanle:
It’s alarming in the lever of Irrational thinking.
Comparing a security with a skilled worker and the basis of comparison narrowed to hazards. lol.
I Will ordinary ignore some post but mehhn… There needs to be a correction.

What makes the security less valuable?

I think you're coming again with these bloating of your skills.

I know a colleague from college who got into NNPC or so despite the fact that his results occupied space while we were in school 😁😁😁


P.S occupy space means the said student had lots of outstanding courses. The way results were printed at the time, if you didn't have any outstanding courses, your results took just one line, but some students would take 5 or more lines, cos of the bogus list of courses they'd failed.

Streetinvestor2:
U keep sounding very funny because u work in oil and gas industry. What is the hazard working in dangota refinery. Is the refinery going to explod.That is my problem with people like u.U like to feel ur profesion is so special than others. U think those security mean facing boko haram everyday jobs are not more hazardous than someone who is operating/monitoring machines.

I made my last two posts, only to come later read that you said the exact same things already.

Don't mind him.
Special skills and you're collecting 400k salary.

For on-site role o.

Agbalowomeri:
For truck drivers

Entry level Engineers

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?

No, not senior staff but Entry level engineers

Digitron:
No, not senior staff but Entry level engineers

The SS in penga SS an doesn't it mean senior staff?

Not all entry level are junior staff na.

If they're pengassan members, then they're senior staff, entry level or not.

Except if pengassan is confused about their scope 😁😁

awesomeJ:
Which hazard can be more than being a soldier in theatres of war in the north east?

Yet how much are those front line soldiers paid?

200k or less?

Yet some politician without conscience will steal billions, and worse stash it completely idly in a foreign land.

Abi they'll be willing to negotiate paying billions to terrorists.

In my opinion, any soldier who goes to the theatre of war in any given month should never be paid less than 1m.

Others who weren't deployed can be at 200k or so.

So let their salaries be 200k, but every time they go to a battle field, they should get at least 500k in battle hazard allowance.


But like you said, life nor balance.

Cos all these oil workers shouting hazards, which hazard is an accountant in Chevron office in Lekki facing, yet they pocket 12m in regular salaries, excluding bonuses.

I wonder ooo. Someone thinks the only Job that requires high level skills is working in the refinery. He doesn't think it requires skill to do anything in the security sector.

awesomeJ:
Some times, the problem might be with the users and not the developers.

What I imagine is that this holiday case would require a privileged user to manually set a day or days as public holidays.

The engineers might have built in that functionality, but what if the privileged users fail to use it.

I mean, it's more convenient to leave it like that. If investors like make them no check for public holidays. If NGX says "no access", then everyone should get it by fire by force.

The developers tried though. The issue with public holidays can be overlooked, whether or not they implemented it.

Someone asked a question regarding this DANREFINE salary issue no one has answered.

Is Dangote making enough money from the refinery currently to pay the huge expected salaries? Are the workers and, in extension, PENGASSAN concerned about this aspect in any way? Hopefully the workers are actually putting in the effort at their actual jobs, but I have seen where workers were agitating for increased salary for a loss making company during a very bad period caused by macro-economic factors.

Anyway, I know Ibeju-Lekki and 400k per month will really make one have one of the poorest living standards there if it is truly the "gross" salary. Except if the company offers shelter and feeding. But it won't be gross salary again if the latter is true will it?

Another angle is that, as it is said, they are entry-level; so apparently 400k is a good enough starting salary for someone who may still be living with their parents/guardians.

I am only conjecturing.

Please is there any vacancy available, I done repent. This is a new me and a better person. Thank you!!

SpaceX:
Please is there any vacancy available, I done repent. This is a new me and a better person. Thank you!!

You wey dey work with Elon Musk
You wan abandon your boy

I have read lots of posts about PENGASSAN vs Dangote and by extension the Oil and Gas industry vs payments/benefits.

Though these have nothing to do with this thread but are quite very intresting reads.

I will summise my contribution this way. For those of you trying to convince the persons that are not in the Oil and Gas industries why those in this industry face lots of hazards, have specific skill sets and hence "big" pay, i wish you good success, thoughi doubt you will be lucky in achieving that. . Its like explaining the the science and maths behind a catalysitc cracking unit and how to optimise the yeld of a specific output like PMS to a Professor in Economics (he has no use for it at it makes not sense to him). This misunderstanding has brewed some really strong hatred for PENGASSAN and what they do. I know people who work in this industry and have some understanding why they get paid the way they do.

Goodlukc to those who think any form of union is not important and see them as agberos. .

Naira has been appreciating lately...

Can the government allow China's currency for trades done to China?

innovestor:
I have read lots of posts about PENGASSAN vs Dangote and by extension the Oil and Gas industry vs payments/benefits.

Though these have nothing to do with this thread but are quite very intresting reads.

I will summise my contribution this way. For those of you trying to convince the persons that are not in the Oil and Gas industries why those in this industry face lots of hazards, have specific skill sets and hence "big" pay, i wish you good success, thoughi doubt you will be lucky in achieving that. . Its like explaining the the science and maths behind a catalysitc cracking unit and how to optimise the yeld of a specific output like PMS to a Professor in Economics (he has no use for it at it makes not sense to him). This misunderstanding has brewed some really strong hatred for PENGASSAN and what they do. I know people who work in this industry and have some understanding why they get paid the way they do.

Goodlukc to those who think any form of union is not important and see them as agberos. .

Unionism is very important but PENGASSAN need to come out clean

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

It’s a red flag for discerning investors

Top bankers are meant to be shrewd and conservative with money and not to be seen as flaunting their wealth, reason why Jewish bankers are highly respected

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?

He said the part of that constitutes the contribution to the check off dues, not the total salaries. I'd give an example so you understand that they dont mean the same thing (not real figures):
1. Dangote Worker: Salary - 80k, Cumulative benefit - 140k (check off dues = 20% of salary = 16k)
2. O&G worker: Salary - 200k, Cumulative benefit - 70k (check off dues =20% of salary = 40k)

In this example, check of dues of one O&G worker is more than twice of Dangote Worker. However total pay of Dangote worker is 220k while O&G worker is 270k (a mere 50k difference)

innovestor:
I have read lots of posts about PENGASSAN vs Dangote and by extension the Oil and Gas industry vs payments/benefits.

Though these have nothing to do with this thread but are quite very intresting reads.

I will summise my contribution this way. For those of you trying to convince the persons that are not in the Oil and Gas industries why those in this industry face lots of hazards, have specific skill sets and hence "big" pay, i wish you good success, thoughi doubt you will be lucky in achieving that. . Its like explaining the the science and maths behind a catalysitc cracking unit and how to optimise the yeld of a specific output like PMS to a Professor in Economics (he has no use for it at it makes not sense to him). This misunderstanding has brewed some really strong hatred for PENGASSAN and what they do. I know people who work in this industry and have some understanding why they get paid the way they do.

Goodlukc to those who think any form of union is not important and see them as agberos. .

People in the oil and gas industry may have unique skills, but I don’t think their high wages are solely because of that. It’s more because the industry earns in dollars and has historically been dominated by foreign companies, so salaries are more closely pegged to the dollar.

If the industry earned in naira, I don’t believe salaries would be as high , despite the high skill level required.

Take doctors, for example; they possess top-tier skills and undergo extensive training, yet their salaries are nowhere near those in oil and gas unless they also work in that sector.

First Bank is on Lagos waters😎




@megawealth01

SpaceX:
Please is there any vacancy available, I done repent. This is a new me and a better person. Thank you!!

Vacancy in NSEMPA? Well, you never know. Heaven is real, hell is real. Your repentance is good. But, have you done restitution? Heaven rejoices for a new soul won. Ensure you don't go back to your old ways.

https://x.com/i/spaces/1mrGmBLMMVLJy

This space will run from 4pm to 7pm wat. It is an open mic conversation on the NGX. Please join.

jonnysessy:
Vacancy in NSEMPA? Well, you never know. Heaven is real, hell is real. Your repentance is good. But, have you done restitution? Heaven rejoices for a new soul won. Ensure you don't go back to your old ways.

Lol this is his 77th repentance

Exactly! 💯

Could it be Mr Ogbonna is trying to get back at AIG for overlooking him for the CEO role?

Bovis:
It’s a red flag for discerning investors

Top bankers are meant to be shrewd and conservative with money and not to be flaunting their wealth, reason why Jewish bankers are highly respected

They better pay the N1 dividend

Bovis:
It’s a red flag for discerning investors

Top bankers are meant to be shrewd and conservative with money and not to be flaunting their wealth, reason why Jewish bankers are highly respected

emmanuelewumi:
I don't think that is all inclusive of other allowances.


Even as terrible as it may be, why should anyone who knows his worth, be fighting to be called back.

The job is not there o. The labour market is saturated. That is why those laid off will fight back to enter again.

KarlTom:
Exactly! 💯

Could it be Mr Ogbonna is trying to get back at AIG for overlooking him for the CEO role?

While it may be seen as an ego-driven move, this is ultimately a reckless investment and damaging publicity for Access Bank UK

Many of these London mansions have remained unoccupied since the UK government began seizing properties owned by Russian billionaires, alleging ties to President Putin

Consider what £15 million could achieve in a struggling UK economy—it could help provide mortgages for over 50,000 Nigerian families living in the UK

A large Hilton Hotel in Peterborough is currently listed for £11.9 million. Acquiring such a property could create hundreds of jobs for Nigerians and generate substantial profits for the bank

It’s likely that the UK’s Financial Conduct Authority will investigate this transaction thoroughly, and they may determine that it was funded through illicit means.

Kereokwu:
They better pay the N1 dividend

We shall see! The bank may likely keep their promise and pay out of retained earnings. However, I believe no smart investor will invest in the stock, hence the low valuation compared to UBA

Bovis:
While it may be seen as an ego-driven move, this is ultimately a reckless investment and damaging publicity for Access Bank UK

Many of these London mansions have remained unoccupied since the UK government began seizing properties owned by Russian billionaires, alleging ties to President Putin

Consider what £15 million could achieve in a struggling UK economy—it could help provide mortgages for over 50,000 Nigerian families living in the UK

A large Hilton Hotel in Peterborough is currently listed for £11.9 million. Acquiring such a property could create hundreds of jobs for Nigerians and generate substantial profits for the bank

It’s likely that the UK’s Financial Conduct Authority will investigate this transaction thoroughly, and they may determine that it was funded through illicit means.

Is the said property bought in the name/account of the bank or in his own personal account?

I’ve been playing with some numbers, and something struck me, the stock market actually outperforms bonds, even those 20% interest rates that some people joyfully grabbed earlier this year, such as the Sukuk bonds with about a 10-year tenure. Don’t get me wrong, if you don’t have the time to fundamentally value stocks or you prefer risk-free, steady income, bonds are great. But they don’t beat stocks, especially if you have a diversified portfolio to hedge against individual stock risks.

Let’s use CAGR, the Compound Annual Growth Rate, which represents the compounded return you’d get if growth were smoothed over the time period. From 2012 to date (up to Tuesday; I haven’t incorporated the days after Independence Day, but that doesn’t change much), the All-Share Index (ASI) delivered a 14.67% CAGR annually. Zenith Bank returned 13.6%, and DangCem about 13.38%.

By comparison, a bond that paid 20% interest annually over that same 2012–2025 period would have yielded around 10% CAGR each year across those 14 years, assuming you didn’t reinvest the interest (just as I didn’t account for stock dividends, splits, etc.).

The ability to monitor and play the long game in the stock market ultimately beats bonds when it comes to long-term wealth creation.

pluto09:
Is the said property bought in the name/account of the bank or in his own personal account?

I heard it was funded through a mortgage by Access Bank in his name. I believe it further complicates things cos an individual must be a UK resident and be earning around £5 million (N10 billion) per annum to quality for a mortgage of £15 million. I doubt Mr Ogbonna earns that much

Seems like he used his influence in the bank to secure the mortgage. Exactly the sort of insider deals that lead to the collapse of the world’s the oldest bank

innovestor:
He said the part of that constitutes the contribution to the check off dues, not the total salaries. I'd give an example so you understand that they dont mean the same thing (not real figures):
1. Dangote Worker: Salary - 80k, Cumulative benefit - 140k (check off dues = 20% of salary = 16k)
2. O&G worker: Salary - 200k, Cumulative benefit - 70k (check off dues =20% of salary = 40k)

In this example, check of dues of one O&G worker is more than twice of Dangote Worker. However total pay of Dangote worker is 220k while O&G worker is 270k (a mere 50k difference)

I must first commend and thank all the experts and ogas here. As a silent reader, I have learned a lot and believe I have made valuable gains from the depth of knowledge shared here

On check off dues: • PENGASSAN’ s check-off dues are about 1% of salary (usually basic salary).
• The maximum deduction for Dangote Refinery (DR) staff would be around N4,000, real deductions would probably be less than N3,000. You are at liberty to exit PENGASSAN if you don’t want check-off dues deducted.
• DR engineers earn a gross salary of N400,000 (N318,000 net) or less (which is all-inclusive). NO Health Insurance/HMO and NO Personal Protective Equipment (PPE). Staff in the Petrochemical section earn less.
• DR only rushed to implement Health Insurance/HMO for the remaining staff after the PENGASSAN industrial action had begun, suggesting the unionization effort immediately exposed and pushed the company to address some inadequate welfare conditions. Not certain if they have truly started.

See screenshot (June, 2025) for you all to make an informed decision.

Just to add my bit to the conversation, since I have silently benefitted from the info on this platform.

megawealth01:
If ARADEL is that price some people think that OANDO wont sell above 100. I just dey laugh sha

Waiting for Oando to hit N100 so I can check something!
The CGT madness by this govt is my only worry

ositadima1:
I’ve been playing with some numbers, and something struck me, the stock market actually outperforms bonds, even those 20% interest rates that some people joyfully grabbed earlier this year, such as the Sukuk bonds with about a 10-year tenure. Don’t get me wrong, if you don’t have the time to fundamentally value stocks or you prefer risk-free, steady income, bonds are great. But they don’t beat stocks, especially if you have a diversified portfolio to hedge against individual stock risks.

Let’s use CAGR, the Compound Annual Growth Rate, which represents the compounded return you’d get if growth were smoothed over the time period. From 2012 to date (up to Tuesday; I haven’t incorporated the days after Independence Day, but that doesn’t change much), the All-Share Index (ASI) delivered a 14.67% CAGR annually. Zenith Bank returned 13.6%, and DangCem about 13.38%.

By comparison, a bond that paid 20% interest annually over that same 2012–2025 period would have yielded around 10% CAGR each year across those 14 years, assuming you didn’t reinvest the interest (just as I didn’t account for stock dividends, splits, etc.).

The ability to monitor and play the long game in the stock market ultimately beats bonds when it comes to long-term wealth creation.

I realised that after holding useless crypto project from 2023 to date.

After studying that chats for some hours, I realised I'd have been in better position if I just invested In s&p 500 index.

The truth is most people are just better off investing in the index fund.