₦airaland Forum

Guy, let them do it first b4 we clap for govt. Abi?

AfroKnight:
Don't mind those cry babies. If na capital oil now, we no go hear word again.

zubby007:
They said MRS holding (downstream oil & gas owned by Dantata) not Mrs Energy.

See products of the Nigerian education system in action!!! What is downstream if not fuel stations?

Bros you hit the nail on the head about the dividends part .

Integrity123:
Holy Moses!!! N81billion??. How much is the turnover of this company?. I hope there is interest moratorium on this facility. The going concern or survival of this company had been compromised with this massive debt. N81 BILLION. How could this get bad. Yet the company is paying a dividend of N1.10 per share. I hope this is not part of the borrowing. Why would this company pay dividend with this heap of debt?

KingAdegoke:
we dey find job una dey close companies. pls you people should leave corruption oh

Pls, u guys should understand issues at hand before commenting. Invade u don't know, they wount close it down.

eph12:
Oh my bad! But you sure they not related?

Never heard of MRS Energy, I hope you are not confusing it with Masters Energy? MRS holdings operates in the down stream sector ( PMS Diesel, lube etc) and BTW they are worth N8B but owe N81B....Amcon is never getting their money back!!!!!

johnwizey:
Nobody is shouting witch-hunt nw o

We need to see evidence like silverbird gallery.

Did mrs provide collateral before the loan was approved?

zubby007:
They said MRS holding (downstream oil & gas owned by Dantata) not Mrs Energy.

The whole of MRS is owned by dantata. And I don't think u know what downstream means if u think it doesn't affect their oil product retail.

vodutive:
See products of the Nigerian education system in action!!! What is downstream if not fuel stations?

Pls help me tell him my brother.

vodutive:
See products of the Nigerian education system in action!!! What is downstream if not fuel stations?

[quote author=vodutive post=47473540

@Vodutive, downstream is not limited to fuel station.. it comprises of refining, processing and purifying of raw natural gas , as well as the marketing and distribution of products derived from crude oil and natural gas . we share idea not trade insult. the guy I responded to already acknowledged. more so can u prove MRs holding ltd is same as Mrs Energy? the both companies differ as well as their CEOs. Mrs holding dantata, whilst Mrs energy Sampson Ogah

Where are all those ass licking hypocrites that are shouting Witch hunting?
How about this one? Its not witch hunting since its between FG and Alhaji.

janellemonae:
The whole of MRS is owned by dantata. And I don't think u know what downstream means if u think it doesn't affect their oil product retail.

@janel, maybe u can educate me if u think I don't know enough. it's welcome.

eph12:
Oh my bad! But you sure they not related?

Don't mind him. They are related parties. Dantata is the board chairman of both. One is a subsidiary of the other.

zubby007:
They said MRS holding (downstream oil & gas owned by Dantata) not Mrs Energy.

One is a subsidiary of the other.

XX01:
Don't mind him. They are related parties. Dantata is the board chairman of both. One is a subsidiary of the other.

Hian Don't know which one to believe again

zubby007:
They said MRS holding (downstream oil & gas owned by Dantata) not Mrs Energy.

Oga Zubby Bebeto.... the guy you quoted is right... MRS holdings owns the filling stations

todayboy:
Story wind up a company owned by Fulani
I can bet my life it will never happen

Amcon is only using this means to beg them to pay

Why amcon don't make this kind of statement before they hurriedly close silverbird

silverbird was closed on court orders,
Now amcon has taken mrs to the same court, jeez how can you be satisfied?

Same MRS CBN just listed as one of the "approved buyers" of dollars to major IOCs?

johnwizey:
Nobody is shouting witch-hunt nw o

they will never , they hav buried their heads in shame.

For your information purposes only Sayuu Dantata chairman of MRS is the youngest brother of Aliko Dangote.
Same mother Hajiya Mariya Sanusi Dantata. Why he decided to use the mothers maiden surname, has never been made public.

Many members of the Dantata family have warned him to desist from using the name, but he dared them to stop him. With big brother Aliko's shadow looming, no one had the balls to take him on.

Alhaji Aliko Dangote has enough billions of dollars to help pay the debts of MRS.

People please stop flaunting ignorance like it's bragging rights.
The downstream sector commonly refers to the refining of petroleum crude oil and the processing and purifying of raw natural gas, as well as the marketing and distribution of products derived from crude oil and natural gas. The downstream sector reaches consumers through products such as gasoline or petrol, kerosene, jet fuel, diesel oil, heating oil, fuel oils, lubricants, waxes, asphalt, natural gas, and liquefied petroleum gas (LPG) as well as hundreds of petrochemicals. That being said, MRS is a major player in the Nigerian downstream petroleum sector.

MRS holdings{owned by Sayyu Dantata} is entirely different from Masters Energy{owned by Uche Sampson Ogah} . Please Don't make that kind of mistake on national media by assuming that Masters energy retail outlets are under MRS . They're both into similar kind of business in the downstream sector, from the importation to the marketing and retailing of petroleum products and petrochemicals.

Also, as regards the activities and pranks of the petrol stations, I will have you know that majority of the stations you see could be franchise owned with just a very small percentage being owned by the company whose name they bear. It takes the stress of managing them away from the tables of top executives whose plates are full already with working decisions that spans across various operations and departments . Besides, if MRS were to fully manage the filling stations by themselves, it would require having a totally separate arm of business that's focused on the retail outlets and this means more salaries and manpower to take care of and they're not interested in adding more to their overhead costs.

Remember that MRS bought over what's left of the Chevron-Texaco downstream and the new management chose to focus on the importation, storage and marketing side of the business and not having much to do with retailing.

MRS oil Nigeria Plc is under MRS Holdings ltd and its in charge of all retail stations nationwide. Be guided.

zubby007:
[quote author=vodutive post=47473540

@Vodutive, downstream is not limited to fuel station.. it comprises of refining, processing and purifying of raw natural gas , as well as the marketing and distribution of products derived from crude oil and natural gas . we share idea not trade insult. the guy I responded to already acknowledged. more so can u prove MRs holding ltd is same as Mrs Energy? the both companies differ as well as their CEOs. Mrs holding dantata, whilst Mrs energy Sampson Ogah

Poor financial management by MRS.