₦airaland Forum

Image123:
Hmmm, we siddon look. If we talk now, dem go say we dey support party, collect money.

FEAR, you're beginning to cave in to bullies. Me, I no fear them O. I'll insult their fathers. RISE AND FIGHT BRO until we finish them off.

Good move by Oando. Why should an oil producing nation with one of world's biggest Refinery still be importing PMS.. it's absurd!

VillagePipu:
See wetin person carry for 9 months.

Lol.. this cracked me up 😂

BreakingNews21:
Looks like a good time for Oando to switch from importing to mining if they have the investment capital to do a feasibility study and then commence domestic operations.

I think they already have a subsidiary that is going into mining.

SarkinYarki:
The people that bought Oando shares 15 years ago have not recovered but yiu want to?

Buying Oando any time is bad news

Oando got to as high as N90 so why didn't the people who bought 15 years ago sell and make profit?
I bought Oando at N5 some years back and I am happy I did.
Just limit yourself to what you know personally from experience and not generalized loose comments.

These big importers were told to stop fuel importation but they were doing strong head. Now, e don clear for their eye . Oando should have just continued now

commoditiesnig:
Good move by Oando. Why should an oil producing nation with one of world's biggest Refinery still be importing PMS.. it's absurd!



Lol.. this cracked me up 😂

They are not stopping for the love of the nation, they're stopping because loss making is already knocking at their door.
Good for Oando, Nigerians shouldn't care because it is not a selfless act

Spuggie:
Dangote na you do this one.


Continue pressing their necks


But should the government even allow fuel import considering there is an indigenous refinery already refining crude in Nigeria?

Some "economists" here on Nairaland even advocated for continuous fuel importation because they believed that it would serve as competition against Dangote refinery. Poor economics students

SmartPolician:
Oando should source funds and build a refinery in Nigeria; it's a profitable business. Dangote, BUA and Waltersmith don't have two heads. People should stop killing Nigerian economy with excessive importations.

The quick profits from importation drives them, most of them have financial strength or connections to become industrialists/manufacturers but they are just not interested. They don't want to wait for years before starting to make profits if they build refineries

mikeapollo:
Oando got to as high as N90 so why didn't the people who bought 15 years ago sell and make profit?
I bought Oando at N5 some years back and I am happy I did.
Just limit yourself to what you know personally from experience and not generalized loose comments.

It's clear you know nothing about Oando shareholders history.. google

maasoap:
These big importers were told to stop fuel importation but they were doing strong head. Now, e don clear for their eye . Oando should have just continued now

No big importer can just go and import fuel by themselves; it is NNPC that gives them quota and authorization to import the fuel.

Spuggie:
Dangote na you do this one.


Continue pressing their necks


But should the government even allow fuel import considering there is an indigenous refinery already refining crude in Nigeria?

Oga if you know the kind of money those guys doing importation de see ehh, before dangote came to pour sand sand inside their garri. Months ago one of those importers weh be my paddy was in my sitting room lamenting bitterly, he was so bitter and pouring hate for dangote, saying dangote had made prices volatile, going up and down so you cannot do a costing to estimate a margin to enable you import, him de import ship load, rent tank farm offload am the sell. You need to see the machine this guy drive to my place in, a 2024 gwagon AMG bought brand new, not tokumbo! Infact it was my first time entering that car, it had the exhaust sticking out from the side, a botton you press on the dash board that will make the silencer loan or quite!. How much will such a car have cost brand new? The customs duty alone will be over 100m!
Imagine how much you must be making to be able to buy a car of over 600m, how much is now your house? Apparently house with family de London, office de Lagos, them go fly in to work on Monday and fly out by Friday. Nna na only "oyel" money fit run the lifestyle.

mikeapollo:
No big importer can just go and import fuel by themselves; it is NNPC that gives them quota and authorization to import the fuel.

You are rephrasing my point. NNPC gave them quota and authorization, why are they backing out now? They should have continued. Dangote said no reason for Nigeria to import fuel any longer, they said no

mikeapollo:
I think they already have a subsidiary that is going into mining.

Great, more grease to dere mining subsidiary elbows.

mikeapollo:
Oando got to as high as N90 so why didn't the people who bought 15 years ago sell and make profit?
I bought Oando at N5 some years back and I am happy I did.
Just limit yourself to what you know personally from experience and not generalized loose comments.

My brother, 15 years ago even the dollar was ₦150 😅. The world has changed, the company has too. If you’re still judging 2025 Oando by 2010 Oando, na you dey miss the new story.

maasoap:
These big importers were told to stop fuel importation but they were doing strong head. Now, e don clear for their eye . Oando should have just continued now

Continue how? When Dangote don turn petrol landlord for Naija 😅. You adapt or you fade, Oando choose sense over stubbornness.

maasoap:
They are not stopping for the love of the nation, they're stopping because loss making is already knocking at their door.
Good for Oando, Nigerians shouldn't care because it is not a selfless act

Nobody runs business for charity, my guy. The key thing is they’re adjusting smartly instead of crying about Dangote. At least dem get sense to pivot before wahala go full ground.

SmartPolician:
Oando should source funds and build a refinery in Nigeria; it's a profitable business. Dangote, BUA and Waltersmith don't have two heads. People should stop killing Nigerian economy with excessive importations.

True talk but no be beans to build refinery o 😅. At least Oando dey focus on crude and gas trading now. Everybody no fit be Dangote right now.

SarkinYarki:
The same Oando mafia is the one that has been fighting Dangote , if not for US govt supplying steady crude to Dangote ,Oando would have since shut down that refinery

senseless submission devoid of any substance.

SmartyPants:
It's a free market. If the local refinery is effective, then the importers will lose. Simple.

Effective like importing petrol subsidized by government of other countries while your own government shout "subsidy is gone", what kind of effectiveness is that?