₦airaland Forum

If the guy's 3rd leg no stand for night na this govt. It's bordering on paranoia now. Mental health struggles are real.

Agbalowomeri:
You dey mind him. NGX has done 5 baggers since 2023. Only during Obasanjo leading to the 2008 crash did we see this before

Oasisblue:
If they list, I will buy ASAP. NNPCL is Africa's second-largest company by market capitalization. Its listing will push Nigeria closer to the trillion-dollar economy aim.

Since the company is already in operation it's listing can not add anything substantial to the GDP and if it expands operation by say a ten billion dollars investment, it may not generate more than two to three billion dollars in GDP per annum

Agbalowomeri:
You dey mind him. NGX has done 5 baggers since 2023. Only during Obasanjo leading to the 2008 crash did we see this before

In terms of nominal figures, one can say that the NGX has grown several times. But in real terms, factorng in inflation and exchange rate depreciation, not much has happened. It has been more of asset repricing.
For example, in 2022, a GT stock of N30 could buy bottled water. The same GT stock of N150 in 2026 cannot buy bottled water anymore.

We should look at prices of stocks like money in our hands and what it could buy between 2002 and 2026.
What happened Obasanjo's time was real growth, without any massive devaluation and inflation. K

mikeapollo:
In terms of nominal figures, one can say that the NGX has grown several times. But in real terms, factorng in inflation and exchange rate depreciation, not much has happened. It has been more of asset repricing.
For example, in 2022, a GT stock of N30 could buy bottled water. The same GT stock of N150 in 2026 cannot buy bottled water anymore.

We should look at prices of stocks like money in our hands and what it could buy between 2002 and 2026.
What happened Obasanjo's time was real growth, without any massive devaluation and inflation. K

Bros how do you describe a bullish market? It has nothing to do with nominal value. That is why they tell you that "whenever there is currency devaluation, expect a bullish market"

lawani:
Since the company is already in operation it's listing can not add anything substantial to the GDP and if it expands operation by say a ten billion dollars investment, it may not generate more than two to three billion dollars in GDP per annum

Guyman think say NGX na GDP

mikeapollo:
In terms of nominal figures, one can say that the NGX has grown several times. But in real terms, factorng in inflation and exchange rate depreciation, not much has happened. It has been more of asset repricing.
For example, in 2022, a GT stock of N30 could buy bottled water. The same GT stock of N150 in 2026 cannot buy bottled water anymore.

We should look at prices of stocks like money in our hands and what it could buy between 2002 and 2026.
What happened Obasanjo's time was real growth, without any massive devaluation and inflation. K

The stock exchange like real estate isn't affected by inflation. When the currency is devalued the total market cap will go up in response while the nominal value of your bank savings remain the same. If the company was in huge debt before the devaluation, it will amount to a substantial debt wipe off

vacanci:
All the bulls that we have seen since 2023 to date na foreign government bring am abi?

I don try to "GO AND VERIFY, A NEW NIGERIA IS POSSIBLE" the alternative but all i see is AI and Lie machine using solar so the lie is unending without stopping.

I come in peace

If you are financially literate. You will know you didn't really see any bull from 2023.You saw repricing of stocks like every other goods to catch up with inflation and devaluation by the failed drug baron government.
That is why your type is always here looking for extra money to pay bills and survive daily instead of seeing ngx as long time investment
You and your likes can now go and verify

Agbalowomeri:
You dey mind him. NGX has done 5 baggers since 2023. Only during Obasanjo leading to the 2008 crash did we see this before

You can only decieve ignorant ones.And since then as you claimed. You refused to invest on ngx.
What kind of wisdom do you have or lack
You prefered to put you claimed funds on fixed instrument

Oasisblue:
If the guy's 3rd leg no stand for night na this govt. It's bordering on paranoia now. Mental health struggles are real.

This is reasoning from those the baron have subjected to perpetual hunger and poverty. They don't see problem from someone who is mentally and physically Unfit to be president in 2027 as long as is from thr village.

Hmm. You really believe the Federal and States' governments will let go of some their monthly FAC loot to shareholders?

KarlTom:
I believe that we are seeing more disclosure because the IPO is drawing closer...

https://businessday.ng/news/article/nnpc-advances-ipo-plans-moves-to-close-governance-gaps/

To some people here on this thread. If you have a company today. And an applicant in bat physically and mentally state come to apply to become the manager. Ask yourself if you will accept him to handle such position.Will your family members allow you to continue to manage a family business if you find yourself in such situations too..How about companies listed on ngx.Will you support a ceo in this capacity
At it stand now,some will say even a dead body can be the president as long as he is not yet committed to the ground.
The you are quick to point fingers to ceo of companies on ngx for one thing or the other. You have no moral justification to do that to ceo of companies toi

@ Agbalowomeri you should be ashamed of always castigating wale about oando management

Raider76:
Hmm. You really believe the Federal and States' governments will let go of some their monthly FAC loot to shareholders?

Listing the NNPC will not stop it from remitting money to FAAC.
Any government that can pull it off must have done something great for Nigeria.
There will be more transparency, efficiency and ultimately more money to the government in the long run.
Just imagine NNPC being run like SEPLAT or ARADEL, the tax to be paid from profits alone will be something else.

Agbalowomeri:
Bros how do you describe a bullish market? It has nothing to do with nominal value. That is why they tell you that "whenever there is currency devaluation, expect a bullish market"

Thanks for confirming my point.
The bullish run under Obasanjo was not caused as a result of massive currency devaluation and inflation.
That makes the bull under Obasanjo different and "superior" to what you are seeing now. It is real bull vs "fake bull"

mikeapollo:
Thanks for confirming my point.
The bullish run under Obasanjo was not caused as a result of maddive currency devaluation and inflation.
That makes the bull under Obasanjo different and "superior" to what you are seeing now. It is real bull vs "fake bull"

Please return all the money you made o else I will curse Oando and ACCESS to take back the money

Streetinvestor2:
To some people here on this thread. If you have a company today. And an applicant in bat physically and mentally state come to apply to become the manager. Ask yourself if you will accept him to handle such position.Will your family members allow you to continue to manage a family business if you find yourself in such situations too..How about companies listed on ngx.Will you support a ceo in this capacity
At it stand now,some will say even a dead body can be the president as long as he is not yet committed to the ground.
The you are quick to point fingers to ceo of companies on ngx for one thing or the other. You have no moral justification to do that to ceo of companies toi

@ Agbalowomeri you should be ashamed of always castigating wale about oando management

There are three candidates before us

The other two don't even have any mental capacity especially the one from Bangladesh . If we were looking for physical capacity, may be we should hire Anthony Joshua

Agbalowomeri:
Please return all the money you made o else I will curse Oando and ACCESS to take back the money

I am waiting for Oando share redistribution so I can sell and buy more Access.
Access Bank Ghana just declared a 70% increase in dividend..
That is what would likely happen iwhen Access Nigeria declares dividend.

Source: Nairametrics
Renaissance Capital Africa (RCA) has raised its valuation of Dangote Petroleum Refinery and Petrochemicals FZE to N700.41 per share, representing a 33.4% premium to the N525 IPO offer price.

SonofElElyonRet:
Source: Nairametrics
Renaissance Capital Africa (RCA) has raised its valuation of Dangote Petroleum Refinery and Petrochemicals FZE to N700.41 per share, representing a 33.4% premium to the N525 IPO offer price.

Tlhese analysts could mislead some investors
The refinery will ne expanded to 1.4m barrels in about 3 years. That should be the basis of any valuation

Aliko Dangote plans to list at least 10% of his group’s Ethiopian fertiliser business on the Ethiopian Securities Exchange, extending his push to bring African investors into the ownership of major industrial ventures.

Likely same will apply to his Nigeria fertilizer company

mikeapollo:
Tlhese analysts could mislead some investors
The refinery will ne expanded to 1.4m barrels in about 3 years. That should be the basis of any caluation

If they have valued it at N700 pre expansion, what is bad about that? 🤷

mikeapollo:
I am waiting for Oando share redistribution so I can sell and buy more Access.
Access Bank Ghana just declared a 70% increase in dividend..
That is what would likely happen iwhen Access Nigeria declares dividend.

Oando still dey distribute shares? After the qualification date and allotment, the share price will approach 20. Una no know say na this share distribution dey run una belle

Nigerian Businessman Dangote’s Portuguese Former Security Chief Dies After Alleged Arrest, Detention Over Resignation


A Portuguese security expert who worked for Nigerian billionaire businessman Aliko Dangote has died in a road accident in Portugal after reportedly suffering severe depression following his arrest and detention by the Nigerian police over his resignation from Dangote Industries Limited, according to his lawyer, Fidel Albert.

Albert, who described the deceased, José Miguel Gaspar Mateus, as a close friend, alleged that Miguel was arrested in May 2026 after resigning from his position as Strategic Security Lead at the conglomerate and accepting a better-paying job in Abuja.

In a detailed personal account made available to SaharaReporters, the lawyer accused Dangote and his associates of instigating the police action, alleging that Miguel was detained, forced to sign an indemnity in favour of the company and subjected to a search of his residence over allegations of sabotage.

Albert stated that the police subsequently found no incriminating evidence against Miguel and that the complainants failed to substantiate their allegations.

He said the former security executive eventually returned to Portugal after the police investigation was concluded but had suffered severe emotional and psychological distress following the events in Nigeria.

Reflecting on his friend's death, Albert wrote, "But tough though he was, Nigeria, this unique country of ours, found a way to break Miguel in ways he never imagined."

The lawyer said Miguel died after taking his sports motorcycle out for a ride in Portugal. According to Albert, the deceased's wife told him that Miguel had gone out in an attempt to distract himself from his difficult circumstances when he was struck by oncoming traffic.

Contract Expired In 2025, Lawyer Says

According to Albert, Miguel was recruited to Nigeria to head security operations across Dangote's business conglomerate, which has interests in several sectors.

The lawyer said Miguel was employed under a three-year contract that expired in May 2025. He described his friend as a highly capable security professional who performed his duties satisfactorily throughout the contractual period.

Albert said he had personally seen Miguel's performance appraisals and evidence of the annual bonuses paid to him under the contract.

However, he alleged that Dangote Industries continued to employ Miguel after the contract expired without formally renewing it, leaving him with his basic salary but without the additional benefits and performance-based bonuses provided under the original agreement.

Describing the circumstances, Albert wrote, "And one year passed. Only salaries. No contract. No bonuses. No perks."

He alleged that Miguel repeatedly sought a formal contract renewal but received assurances that the matter would be addressed.

According to the lawyer, the situation eventually became unacceptable to Miguel, who had a wife and three children in Portugal and needed to maintain a stable income to support his family.

Albert said Miguel's wife was seriously ill, while two of their three children were on the extreme end of the autism spectrum and required round-the-clock care.

The lawyer described Miguel as the family's sole breadwinner and primary caregiver, saying his responsibilities extended beyond his own financial comfort.

"Thus, staying alive was not an obligation. Making money was not an option. These were bounden obligations," Albert wrote.

He said Miguel eventually decided to leave the company after receiving an offer of a better-paying and more rewarding job in Abuja.

According to Albert, Miguel formally communicated his resignation to his employers in May 2026, disclosed the company he intended to join and participated in meetings to ensure a smooth handover of his responsibilities.

He said the company's human resources department acknowledged the resignation and wished Miguel well.

However, Albert alleged that the situation changed after Dangote requested a meeting with Miguel.

Arrested After Being Asked To Return To Office

Albert said Miguel was asked to attend a meeting at Dangote's offices on May 5, 2026, following his resignation.

According to the lawyer, Miguel arrived early and waited for about five hours before being told that Dangote could not meet him and that he should return the next day.

Albert alleged that Miguel returned on May 6 as instructed and was again made to wait.

He claimed that police officers subsequently arrived at the premises, identified Miguel and arrested him before taking him to the Zone 2 Zonal Command headquarters of the Nigeria Police Force in Onikan, Lagos.

The lawyer said Miguel was not initially informed of the reason for his arrest.

Describing the incident, Albert wrote that "several gun-totting, and battle-ready detachment of policemen stormed the building."

He alleged that Miguel was identified to the officers as the person they had come to arrest before they took him away in a waiting vehicle.

According to Albert, Miguel was eventually shown a petition submitted by Dangote and associates accusing him of sabotage.

The lawyer questioned the basis of the allegation, arguing that Miguel's resignation from his employment did not, in itself, establish criminal wrongdoing.

He also challenged the use of the police in what he described as a dispute arising from an employment relationship.

"Sabotage Allegation, arrest and detention by police. Simply for resigning an employment," Albert wrote in his account, describing what he considered the central injustice in his friend's treatment.

Lawyer Alleges Miguel Was Forced To Sign Indemnity

Albert further alleged that Miguel was compelled to sign an indemnity undertaking in favour of Dangote's company as a condition for his release from detention.

According to the lawyer, the document required Miguel to accept responsibility if any security incident occurred at the company after his departure.

Albert said Miguel signed the undertaking after spending several hours in police custody.

He alleged that the following day, May 7, police officers took Miguel to his residence at Lakowe Golf Estate, Lagos, and searched the premises for evidence relating to the alleged sabotage.

According to the lawyer, the search did not uncover incriminating material.

Albert said the arrest and detention had immediate consequences for Miguel's prospective employment in Abuja.

He alleged that the new employer learnt of the police investigation and withdrew the job offer before Miguel could resume work.

The development, according to Albert, left Miguel without the new job he had accepted and without the financial security he had anticipated for his family.

He also claimed that Miguel was required to report to the police weekly while the investigation continued, restricting his movements and preventing him from returning to Portugal to attend to his family.

Albert said Miguel subsequently contacted his former employers and offered to withdraw his resignation and return to work.

However, he alleged that the company declined the offer.

Recounting the response, Albert wrote, "HR responded. Don't come back. We have moved on."

He described the development as particularly devastating because Miguel had lost his prospective employment and was still required to report to the police.

‘Police Found No Evidence Against Him’

Albert said the police issued a report dated June 3, 2026, about a month after Miguel's arrest, indicating that no incriminating evidence had been found against him.

According to the lawyer's account of the report, the police had invited representatives of the complainants to substantiate their allegations, but the company's representatives failed to appear.

Albert also said the report indicated that no prima facie case of breach of trust or conduct likely to cause a breach of the peace had been established against Miguel.

He described the outcome as an eventual vindication of his friend, but argued that it came too late to reverse the consequences of the investigation.

Albert wrote, "For the first time, I commend the Nigeria Police for doing the right thing in this case."

He immediately added, however, that the police action had taken too long.

"But then, even the exculpation came rather too late. It took too long coming. It met a dying man," he wrote.

The lawyer alleged that Miguel had, by then, suffered severe depression and had become physically and emotionally withdrawn.

"Yes, by this time, Miguel was far gone. Completely crumbled under the weight of acute depression," Albert wrote.

He said Miguel's condition deteriorated as he struggled with the loss of his job, the uncertainty surrounding his future and his inability to provide the level of support his family required.

Miguel Returned To Portugal As Mental Health Deteriorated

Following the conclusion of the police investigation, Albert said Miguel was eventually permitted to leave Nigeria and return to Portugal.

The lawyer said they remained in contact and that Miguel wanted to pursue legal action over what he considered wrongful treatment by his former employers and the police.

According to Albert, Miguel's mental health continued to deteriorate after his return to Portugal.

He alleged that his friend began attending psychiatric sessions to regain his mental balance.

In his account, Albert described the consequences of the alleged treatment in Nigeria as devastating for Miguel's family, which depended on him financially and for the care of his wife and children.

He wrote that the events had left Miguel unable to properly care for his family.

"It shattered his family. He couldn't properly care for his wife and kids," Albert stated.

The lawyer said Miguel's death came as a shock because they had spoken on the morning of the day he received the news.

Albert explained that he had been preparing legal papers to challenge the alleged violations of Miguel's fundamental rights.

He said the proposed case was scheduled to be filed on August 31, 2026, and that he had spoken with Miguel on the preceding Saturday morning to finalise plans for the filing.

Later that day, Albert said he went to a beach house with friends and was unable to receive calls because there was no mobile network.

He subsequently noticed missed calls from a Scottish friend who was close to Miguel and his family.

According to Albert, the man sent him an urgent message asking him to call back.

When he returned the call, the friend informed him that Miguel had died.

Albert recounted his reaction in the account, writing, "All he said to me was: 'Fidel, I'm sorry to inform you that Miguel is dead.'"

He said he was stunned because he had spoken to Miguel earlier that day.

Lawyer Says Miguel Died In Motorcycle Accident

According to Albert, Miguel's wife said her husband had taken his sports motorcycle out for a ride in an attempt to distract himself from his circumstances.

The lawyer said Miguel was struck by an oncoming vehicle and killed.

Albert acknowledged that he could not determine precisely what Miguel was thinking or experiencing at the time of the accident.

"Maybe he did not concentrate. Maybe he could no longer focus," he wrote.

Albert nevertheless maintained that the circumstances surrounding his friend's final months demanded accountability.

He said Miguel left behind his seriously ill wife and three children, including two who required round-the-clock care.

He accused Dangote of continuing with his business activities while Miguel's family struggled with the consequences of his death.

Albert also alleged that he had written letters seeking compensation for the family but had received no response.

"I have written letters to demand compensation for his family. All have been ignored," he wrote.

The lawyer said he remained determined to pursue the matter on behalf of Miguel's family.

"But I do know this won't go away, something will be done. At some curve, Miguel will find justice," Albert stated.

Lawyer Questions Employee Welfare Requirements For Listed Companies

Beyond the allegations surrounding Miguel's arrest and detention, Albert used his account to question whether the welfare of employees should form part of the considerations for companies seeking to list on the Nigerian Exchange.

Dangote Petroleum Refinery’s IPO (Initial Public Offering) is currently open, offering 4.1 billion ordinary shares at ₦525 each, making it the largest IPO in African history.

Subscription began on September 14, 2026 and has been extended to close on October 2026 27, with listing expected on the Nigerian Exchange (NGX) in December 2026.

He said he examined the listing requirements of the Nigerian Exchange and the Securities and Exchange Commission after reflecting on the circumstances surrounding his friend's death.

According to Albert, he found requirements relating to shareholders' equity, pre-tax profits, operating track records and financial performance, but questioned the absence of what he considered adequate consideration of employee welfare.

He argued that employees are central to the profitability of companies and should not be overlooked when corporate performance and governance are assessed.

Albert wrote, "So what about the geese that lay the golden egg? The employees? These do not matter at all?"

He also questioned whether companies should be able to benefit from strong financial performance without sufficient scrutiny of how they treat their workers.

The lawyer indicated that he intended to examine the issue further, suggesting that Miguel's case had raised broader questions about corporate accountability and employee protection.

Wife Expected To Become Claimant In Planned Legal Action

The legal action Albert said he had prepared for Miguel has not been filed in its original form, and the draft documents will need to be amended following his death.

The draft exclusively provided to SaharaReporters contemplated a fundamental-rights enforcement action before the High Court of Lagos State against Dangote, Dangote Industries Limited, a senior company official and police authorities.

Following Miguel's death, Albert has indicated that the papers will have to be amended so that Miguel's wife can become the claimant.

"As for today, Miguel, a tribute to you, dear friend," Albert said, paying tribute to his late friend. "But your matter will not die. It will survive you bro. For your children's sake!"

SaharaReporters was unable to reach Dangote Industries Limited’s Group Chief Branding and Communications Officer, Tony Chiejina, for comment on the allegations. He did not answer calls or respond to a message.

Nigeria Police Force spokesperson Anietie Iniedu also did not answer calls or respond to a message.

From ₦619.47 per share to ₦700.41 per share.

That's a total implied equity value of $63 billion...

Every mallam to his kettle

SonofElElyonRet:
Source: Nairametrics
Renaissance Capital Africa (RCA) has raised its valuation of Dangote Petroleum Refinery and Petrochemicals FZE to N700.41 per share, representing a 33.4% premium to the N525 IPO offer price.

SonofElElyonRet:
If they have valued it at N700 pre expansion, what is bad about that? 🤷

Why/How did they give it a lower valuation before now?
That is my concern.
Very soon, they may come up with another higher valuation.

mikeapollo:
Why/How did they give it a lower valuation before now?
That is my concern.
Very soon, they may come up with another higher valuation.

If dem fit value Oando at over N100, what God cannot do....

Someone should help me and ask Deji if he had bought enough units of DANGOTE REFINERY IPO abi E dey hustle for JAGABAN assistance? 😂

I'm waiting when they will value it at 15k/unit

KarlTom:
From ₦619.47 per share to ₦700.41 per share.

That's a total implied equity value of $63 billion...

Every mallam to his kettle

The expansion was also considered in both valuations. Q3 results changed the narrative.

Although I think the revised SP should be about ₦671 based on a post-IPO of 125.48bn OS.
Their calculations used 120.13bn units...

mikeapollo:
Tlhese analysts could mislead some investors
The refinery will ne expanded to 1.4m barrels in about 3 years. That should be the basis of any caluation

H

Agbalowomeri:
If dem fit value Oando at over N100, what God cannot do....

You are just looking for my trouble with this mention of Oando, that you are using to torment me and fellow Oandoites.
But I leave it for God and Wale!
God and Wale that made N5 to N90 possible iare still alive!

Repricing bawo? Na rebalancing jare...

Na PROTINUBU boys dey wyne us 😂

mikeapollo:
In terms of nominal figures, one can say that the NGX has grown several times. But in real terms, factorng in inflation and exchange rate depreciation, not much has happened. It has been more of asset repricing.
For example, in 2022, a GT stock of N30 could buy bottled water. The same GT stock of N150 in 2026 cannot buy bottled water anymore.

We should look at prices of stocks like money in our hands and what it could buy between 2002 and 2026.
What happened Obasanjo's time was real growth, without any massive devaluation and inflation. K

Wale is planning to bring this thing to sub 30 naira but we no go gree for him

mikeapollo:
H

You are just looking for my trouble with this mention of Oando, that you are using to torment me and fellow Oandoites.
But I leave it for God and Wale!
God and Wale that made N5 to N90 possible iare still alive!