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Nairaland Forum / Nairaland / General / Business / Alakija Dragged On Twitter After Saying She Accepted Her oil well by "Faith" (36436 Views)
Folorunsho Alakija And Her Husband, Modupe Separate After 30 Years Of Marriage / Folorunsho Alakija Is Building Famfa Towers, Costs N60 Billion / An Open Letter To Folorunsho Alakija For Accepting Oil Well By 'Faith' (2) (3) (4)
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Re: Alakija Dragged On Twitter After Saying She Accepted Her oil well by "Faith" by Icon4s(m): 9:59am On Feb 25, 2018 |
Hungarriman: I am glad you have an idea of where I am coming from. But let me clear this, no government gave anybody any Oil Block as a gift! Do you know why they are regarded as a gift? Because of the cost of acquiring those blocks as compared to the huge revenues later recovered from them. This thing you guy think are gifts were worth hundreds of millions in Dollars. Prio to the discovery of huge fields like Agbami, Bonga and Erha, the deep offshore were no go areas. No business man would want to invest his money where they knew there were several limitations ranging from lack of available detailed Geological data to Lack of technical expertise and experience among others. The government had to give out those offshore blocks to potential investors at a cheaper price compared to those onshore as an incentive to attract them towards it and then which in turn will boost our Oil reserves. Which is a win-win scenario. Let's even say (as you guys think) she was given the block for free. Do you know the amount of Capital investment (CAPEX) that will go into such a block before you will get to the stage of Drilling the first well? What if after spending so much and then drill wells and the wells are dry? And you say she has nothing to lose? Do you know how much it costs to even drill wells offshore? Please if we don't know about certain issues let's ask questions before making comments Folorunsho Alakija's story cannot be beneficial to every entrepreneur. It is for only those that understand the nitty gritty of the Oil business. I would like to sit with her and share from her success story on that Oil Block. 2 Likes 1 Share |
Re: Alakija Dragged On Twitter After Saying She Accepted Her oil well by "Faith" by Martin0(m): 10:04am On Feb 25, 2018 |
gypsey: gbam |
Re: Alakija Dragged On Twitter After Saying She Accepted Her oil well by "Faith" by Nobody: 10:14am On Feb 25, 2018 |
Martin0:so you agree? |
Re: Alakija Dragged On Twitter After Saying She Accepted Her oil well by "Faith" by Nobody: 10:21am On Feb 25, 2018 |
Lord, let me just get alert of €1 millions by faith too na |
Re: Alakija Dragged On Twitter After Saying She Accepted Her oil well by "Faith" by Martin0(m): 10:25am On Feb 25, 2018 |
gypsey:very well |
Re: Alakija Dragged On Twitter After Saying She Accepted Her oil well by "Faith" by everG: 10:34am On Feb 25, 2018 |
transformed:Cheap journalism! Calling malu uncle cos of cow meet |
Re: Alakija Dragged On Twitter After Saying She Accepted Her oil well by "Faith" by Nobody: 10:34am On Feb 25, 2018 |
Icon4s: She was a seamstress, how did she get to know investors? Was it not through Miriam Babangida and IBB? She wouldn't even afford that block even if it were auctioned off by the Govt. Zuckerberg and Co can give account of how they started, but can our Nigeria Billionaires do that? Almost all of them got Govt contracts.. They guy you quoted was right.. Making it big in this country without knowing anyone at the corridor of power is slim.. Yes she took it by "faith" and got oil but the process of her getting it is what I want to know. To me I think all these are dummy companies, that famfa hasn't even put out an advertising for employment, you would be surprised that they don't even pay taxes and if a seamstress can get an oil block, guess how many those big former generals have? Jesus Nigeria might not get better till the world ends if we continue like this 4 Likes 1 Share |
Re: Alakija Dragged On Twitter After Saying She Accepted Her oil well by "Faith" by Nobody: 10:35am On Feb 25, 2018 |
Re: Alakija Dragged On Twitter After Saying She Accepted Her oil well by "Faith" by Nobody: 10:36am On Feb 25, 2018 |
Esseite: Sorry to spoil your 111 likes. Lol. |
Re: Alakija Dragged On Twitter After Saying She Accepted Her oil well by "Faith" by Born2Breed(f): 10:43am On Feb 25, 2018 |
DSDLIVEREPORT: Gone are those days. |
Re: Alakija Dragged On Twitter After Saying She Accepted Her oil well by "Faith" by Nobody: 10:44am On Feb 25, 2018 |
I don't understand the noise. Oil well no dey productive , she say go still take am, she make am productive years later, government wan come collect am back, she go court she win . She turn billionaire. So what did she do wrong? If any of you find yourself in her position are you telling me you are not going to seek favour before your oga leaves office. Or do you think this is peculiar to only Nigeria. This is being done world over America, UK , France the list is endless.As I see it she didn't steal nothing or break any law. All the billionaires you know got a break at some point because of contacts they have in government and connect. It's just how it is. Get over it and know better people that can change your life period. Every body trying to form like if they were offered such opportunities they will reject it. Tah! If I hear. 2 Likes |
Re: Alakija Dragged On Twitter After Saying She Accepted Her oil well by "Faith" by divineappo(m): 10:52am On Feb 25, 2018 |
MrMcJay:Recommend a IT course |
Re: Alakija Dragged On Twitter After Saying She Accepted Her oil well by "Faith" by Nobody: 10:53am On Feb 25, 2018 |
Rainmania: She got an oil block not well.. and that is not something that should be shared like biscuits and sweets, productive or not 1 Like |
Re: Alakija Dragged On Twitter After Saying She Accepted Her oil well by "Faith" by COMPAQ(m): 10:58am On Feb 25, 2018 |
ggoldmine: I totally agree with you. Abroad billionaires are made because they created something - either a new product or service that millions bought, but in Nigeria billionaires are made because they have a friend in Aso rock! Alakija owns no technology, likely owns no rig etc. She doesn't even have that many staff like a proper oil and gas company. All she did is to invite chevron to come and do all the work and then she takes her share. For that purpose she doesn't have my respect and u wonder why people call her to talk on entrepreneurial matters. For her fashion label maybe, but for famfa oil and gas, there is nothing entrepreneurial there. 2 Likes |
Re: Alakija Dragged On Twitter After Saying She Accepted Her oil well by "Faith" by Hungarriman: 11:09am On Feb 25, 2018 |
Icon4s:Given the fact that you are knowledgeable about the Nigerian oil industry, you should be aware that such ventures require a financial arm, a technical arm and a Nigerian face, so the people entitled to tell this faith story should be her financial partners(most likely foreign investors). Not to take anything away from her, but she was just a product of Nigeria oil policy. See she is a entrepreneur there is no doubt about that, but i still maintain that this her faith based story is uninspiring for entrepreneurs. Heck, you would have even told a better a story of her entrepreneurial sagacity than her PR handler. At least i have heard stories of her being a fighter and that would have been more inspiring and useful to entrepreneurs. 4 Likes |
Re: Alakija Dragged On Twitter After Saying She Accepted Her oil well by "Faith" by COMPAQ(m): 11:09am On Feb 25, 2018 |
Icon4s: In all likelihood she probably didn't pay any money for it from her own pocket. Knowing Nigeria and IBB, I am 100% sure it was simply ALLOCATED to her. With respect to the Capex that you talk about, Chevron took all the risk to invest. The structure is Chevron invests and if they strike oil, chevron uses oil to repay themselves of the equity she ought to have provided upfront. Only when it is fully paid back in oil will she now begin to reap rewards. So the initial risk is 100% to chevron and 0% to her. It is a risk chevron would have been willing to take because of their huge size. There is another block I know off owned by another shadow Nigerian company. They have aJV with a multinational oil company who has not yet decided whether to develop that block. Do you know that the IOC pays that company millions of dollars every year just to remain as partner even though no work is going on? Another Nigerian billionaire oil and gas person adding no value. 4 Likes |
Re: Alakija Dragged On Twitter After Saying She Accepted Her oil well by "Faith" by Hungarriman: 11:16am On Feb 25, 2018 |
COMPAQ:God bless you and yours bro. You can see where i just pointed this out to him in layman terms using his icon's faith based story. See, we all love a success story and she has told her own. All i am saying is that this story more comical than it is inspiring. I actually chuckled when i read the story. 1 Like |
Re: Alakija Dragged On Twitter After Saying She Accepted Her oil well by "Faith" by InfiniteLoopx: 11:18am On Feb 25, 2018 |
MrMcJay:I've been a programmer since 2005, I'm yet to make half of what she makes... Where is the money in IT? 1 Like 1 Share |
Re: Alakija Dragged On Twitter After Saying She Accepted Her oil well by "Faith" by Nobody: 11:22am On Feb 25, 2018 |
COMPAQ: My brother sense will not kill you.. These are dummy corporations. The nigga was up there talking about CAPEX and shit. He should just keep quiet oo.. These companies virtually have no employees, not giving to charity and don't be surprised that these people pay no taxes. How can we develop without these? Not to be bring politics, but these folks were afraid of Jonathan winning reelection, Go to Abuja, they have started these nonsense in real estate. 200 million can't but you a good land and house.. Plenty houses not occupied. God sef don remove eye for our matter because we the populace no get sense and font ask questions. Just dey talk about we dey oil like na chinchilla matter. 4 Likes |
Re: Alakija Dragged On Twitter After Saying She Accepted Her oil well by "Faith" by Jahdriel(f): 11:33am On Feb 25, 2018 |
ggoldmine: How do you think all these other guys got to where they are today? First, they all had one or two opportunities and they grab these opportunities with everything they've got. Alakija did the same, she was give an opportunity and she took it. You think the men you've mentioned made their wealth by simply doing their businesses the simple way! They all mingled and still mingling with governments. They excel on governments goodwill. Why do you think Dangote was with Jonathan before election results were announced and few hours after Buhari was announced winner, he left Jonathan and went to sit with Buhari. Why has it been difficult for the US to pass any serious bill on gun control. Whenever any government in US organizes bigtime election fund raisers what kind of people show up at these funds raisers? It's the likes of the ones you've mentioned above. Some them don't get oil wells or contracts from government, but go and check government policies as regards these people's businesses, for example Dangote and cement manufacturing in Nigeria. How do you think Alhaji got the license to start a private refinery? When Oprah wias donating to Obama's campaigns, donated to Michelle's special projects she will not loud it now and u won't be there too, then when she wants to do an all access interview for the Obama's or even a documentary to be aired on O network with advertisers paying millions to get on board, then you people will start saying she's the only that can move such weight. The thing is some might get oil wells, some licenses, some goodwill, some favourable policies, etc. The fact and truth is, there's no $billionaire that does not make friends with government or got to where they are without ever making friends with government, how and what was at stake may be different. And you too my friend will do the same when or if u get to that point in life! 4 Likes 1 Share |
Re: Alakija Dragged On Twitter After Saying She Accepted Her oil well by "Faith" by Hungarriman: 11:37am On Feb 25, 2018 |
Arondizuogu:Lol@ "my brother see will not kill you". Infact permit me to borrow your line, my brother sense will not kill u too, jare. Leave men make dem just d yarn plenty, na pple wey no understand how dis country d work yarn plenty. Make d masses no worry shebi na story dem want, make i begin prepare to near govt, then if i make am, d kind story wey i go nack dem ehen go tight well well. In fact mke i begin the prepare my story now. The story go be based on DIVINE REVELATION. Abeg u still fit help me find better story topics. 2 Likes |
Re: Alakija Dragged On Twitter After Saying She Accepted Her oil well by "Faith" by Nobody: 11:40am On Feb 25, 2018 |
Ok correction noted. Well on the bright side ...atleast she was able to employ enough Nigerians. Arondizuogu: |
Re: Alakija Dragged On Twitter After Saying She Accepted Her oil well by "Faith" by Hungarriman: 11:46am On Feb 25, 2018 |
Jahdriel:Now this is actually what she is supposed to be telling us how to do or tell us another story entirely and not given us some Faith based story. She should be telling us about how to position ourselves in other to benefit from Nigeria's Commonwealth. My problem is not with her success as a Nigerian businesswoman because i know how these businesses are done in Nigeria(the Nigerian way) but with her storyline. Moreover this other people you mentioned created values through products and services. None of them is just "chopping" their countries national resources. 3 Likes |
Re: Alakija Dragged On Twitter After Saying She Accepted Her oil well by "Faith" by macaphan007(m): 11:47am On Feb 25, 2018 |
PrecisionFx:I hustle try sell Karasana land tire make I even get better bar,I search for that thing tire. |
Re: Alakija Dragged On Twitter After Saying She Accepted Her oil well by "Faith" by Nobody: 11:47am On Feb 25, 2018 |
Hungarriman: Lol my brother. That's my plan ooo. Shebi as this 2019 elections dey come now ehh na to just go dey rub Ikpeazu feet dey my mind.. I don message Atiku for Facebook tire shaa... Stories sef no go be problem, when the money comes, the fables go just fly in. God's intervention, Divine ascension... dem go plenty.. On a serious note ehn, FG should look into these deal made during Military Govt.. the wuru wuru plenty ehn, how can a seamstress turn an oil field/block owner over night. It leaves one in awe the amount the top military Brats then would have.. 1 Like |
Re: Alakija Dragged On Twitter After Saying She Accepted Her oil well by "Faith" by Nobody: 11:49am On Feb 25, 2018 |
Rainmania: Lol.. thanks on the oil field word.. but true shaa these companies don't employ oooo. |
Re: Alakija Dragged On Twitter After Saying She Accepted Her oil well by "Faith" by Nobody: 11:58am On Feb 25, 2018 |
Jahdriel: Donating to a campaign is different.. yeah billionaires do mingle with Govt officials but they give the people something in return.. for Lockheed martin to build a US defense system, it goes in competition with others like sikorsyt or something and win it.. USA or UK will not just dash an individual an oil field.. Nope, Nope.. Trump tried it with Hurricane Maria in Puerto Rico ( gave a company ran by one person a deal to distribute food to 50 million people) he was shit down immediately. Do you what an error it is to just give someone without an oil and gas experience an oil field? Oprah and Co you mentioned employs people, but famfa doesn't.. their website looks dull.. Zuckerberg started Facebook and he didn't even make money then until it went public in 2007. Americans recognized that their country IA ran by big corporations.. yeah almost all of them knows that especially with the election of Donald Trump, why do you think them Republicans are shit scared of this year's mid term? They are trying to change it, what are we Nigerians trying to change? This woman, I don't know her to hate her, but all I'm saying is that she got that field wrongly.. IBB just handed it over to her without competition. Oprah didn't wake up one morning and became Oprah, Jeff bezoz too!! These people had history, what is the history of our Nigerian billionaires... this is why I don't go to their entrepreneur talk becaise they are not.. 5 Likes |
Re: Alakija Dragged On Twitter After Saying She Accepted Her oil well by "Faith" by Hungarriman: 11:59am On Feb 25, 2018 |
Arondizuogu:Chief, abeg no kill me with laff for hia. But why u wan use ur hand pack sand wan put for our garri, hw u go d call FG make them look into these deals. E b like u no wan make we follow lick this our God given oyel. |
Re: Alakija Dragged On Twitter After Saying She Accepted Her oil well by "Faith" by Nobody: 12:02pm On Feb 25, 2018 |
You saw it...well didn't want to sound like I too know. But I imagine some family some where would have benefited from her being a billionaire. The thing is these elite world is all about connection, I'm not saying it's right but it's just the way the world works. To get to the top is never by just luck...you need the shoulder of the connected ones. May we one day jam them in our lifetime sha. Arondizuogu: |
Re: Alakija Dragged On Twitter After Saying She Accepted Her oil well by "Faith" by newoffer: 12:12pm On Feb 25, 2018 |
All of them are errand boy n maids who got oil well. All dis happened during IBB era |
Re: Alakija Dragged On Twitter After Saying She Accepted Her oil well by "Faith" by Nobody: 12:14pm On Feb 25, 2018 |
Hungarriman: This 2019 election must work for us oo.. |
Re: Alakija Dragged On Twitter After Saying She Accepted Her oil well by "Faith" by Hungarriman: 12:15pm On Feb 25, 2018 |
Rainmania:This is true, but in saner climes, you get introduced or recommended by someone and then you have to prove yourself, but over here once you are recommended, you have arrived. Just fire down whether you know what you are doing or not. |
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