₦airaland Forum

Their own nah wah. How can we say we have freedom of association but then NUPENG is the only one statutorily authorized to unionize tanker drivers? Isn't that not forcing drivers to join NUPENG as the only option if they desire to be in a union?

emmanuelewumi:
NUPENG don dey lament say Alhaji don register a union for his Truck drivers and they won't be members of NUPENG.

This is a hard one for NUPENG.

Alhaji and his team are good chess players

On paper, yes. If a truck can't load at a depot without the driver being a union member and the truck having a union sticker on, what else do you need to be told that you have to join?

What should actually come out of this crisis is a law specifying how unions and associations function in their operations and finances. Thus should include a provision that before unions can go strike a majority if their members must actually vote to agree to strike. We are in a democracy.

Agbalowomeri:
It has always been voluntary
Even ASUU is voluntary

Another check mate for NUPENG from Alhaji:

BREAKING: Dangote-Backed New Trucking Company Writes NUPENG, Says Drivers Reject Union Membership

https://saharareporters.com/2025/10/02/breaking-dangote-backed-new-trucking-company-writes-nupeng-says-drivers-reject-union

If true this will be the start of serious dispution for all unions and associations in the country. If members are free to refuse to join or withdraw their membership many will withdraw.

Streetinvestor2:
So u dey the watsup group then. That is why u whr believing dangota will bend his back.Then he gave u guys check mate.
Watin una dey talk for the watsup group.

He always does. That is why he is where he is and his enemies are always behind.

awesomeJ:
My brother AI quotes aren't even worth a read, especially in matters like this.

Anyways, contrary to what you earlier said, I want to categorically state to you that Dangote will win this fight and the unions will rest. Please feel free to quote me when it all settles.

Really? Listen to this:


https://www.youtube.com/watch?v=zOFoS0z9VEY?si=iKplNBnb34T9U1qC

handsomebolanle:
You make it sound as though PENGASSAN is a cult of destruction.
Sir, with all due respect. This is WRONG!!!
Please be objective.

I bet you Nigeria will eventually shoot itself in the foot on this refinery. Our demons are too many.

emmanuelewumi:
On a serious note, they should allow this guy to run the business for 5 years, pay down his debts, list the refinery on NGX and make it a public company.

Then all these union guys can start.

This is a business that is operational just for a year

I pray Alhaji would sue the government and the unions $500m for every day that the refinery is disrupted. They will know the difference between sabotaging government refineries and private ones.

emmanuelewumi:
He has the power when they sabotage the economy or become a terrorist.

Stopping gas supply to Dangote Refinery, when NNPC and Dangote Refinery signed a 10 year contract for the supply of 100 million metric feet on a daily basis. This is a breach of a legally binding contract that can cost NNPC a fortune if challenged in the court

This is excellent. However these arguments should have been made earlier. Where was the NGX and the investors when the law was made and passed?

otomatic:
More perspectives on the CGT

https://nairametrics.com/2025/09/29/why-25-cgt-for-share-sale-is-self-inflicted-wound-for-nigeria/

Thanks

That will be really problematic though.

emmanuelewumi:
It is total turnover

I have a question on this N150m threshold. Is it the size of one's portfolio or total turnover in one's trading account over the one year period? Because if it is turnover then people who JIJO frequently can easily have a N150m turnover in 12 months even when their actual portfolio is much below that. With turnover each transaction (buy or sell) is counted.

I think it is more like if you sell in December you then have to reinvest in that December to avoid paying the tax. Once you cross into January holding the cash then you are liable.

Agbalowomeri:
I think the suspicion is that for example, if you sell in December and you made a kill. You can reinvest in january or febr. make small gain or breakeven, then you can move your money because you will only report for the new year which you have made little profit. I hope this is correct understanding

Ok. If you believe the numbers. The crude swap was the cashcow before the private fuel imports regime.

GeneralDae:
NNPC was doing crude swap close to 400k bpd of crude with European refineries to get just PMS (if I remember correctly).

So I think they were involved. Now they are running under capacity because they no longer have to produce such huge volumes for West Africa anymore and a refinery is something that goes under after some time when it can’t supply to capacity like before. It starts running at a loss because it would then start requiring some level of maintenance constantly.

This is not the only reason European refineries are shutting down though. The main reason is that most are old but this is one of the reason.

Not sure the European refiners have anything to do with the 66m liters per day. It was just a fraudulent inflation done by the importers, in collaborarion with NNPC officials, politicians, and labor unions to siphon money from the government and the consumers, through a manipulation of the subsidy system. Unfortunately this arrangement has operated for so long that huge investments have been made in the form of large tank farms, port facilities, transportation trucks, filling stations, blending facilities abroad, and so on.

The government should have foreseen the coming to reality of the Dangote Refinery and start to plan for a new system. The government must still come in and buy off the port and tankfarm infrastructure of the importers and convert them into a strategic fuel reserve syatem, along with the existing fuel depots of the NNPC. This will allow the private sector refining industry to develop and fully remove government hands from refining. Funds to purchase fuel importers tankfarms can be raised through the sale of the government's refineries and/or listing the NNPCL on the NGX and raising funds by selling off government shares.

GeneralDae:
Those European refiners were consistently supplying a phantom 66 million litres per day PMS to Nigeria in 2022, paid for through debt and about 400k bpd crude oil swap by NNPC to them. From the 66 million litres per day PMS supplied, some were sold to Niger, Benin, Togo, Cameroon and even as far as Ghana and Senegal.

Those guys were making a killing from our stupidity.

The situation in 2022 was so sad because due to this we couldn’t even benefit from the high oil prices in 2022 (due to Russia- Ukraine war) while Angola and other oil countries swelled with oil money.

Dangote at 700k bpd capacity saves us a lot by meeting our true consumption which is around 40 million litres per day and exporting the rest because they would still have about 20 million litres per day left over to export.

Chai! One Japaul seller just came and cleared most of the bids last minute.

So if it is open to all what stops those major FBN shareholders who were recently made to sell their shares from buying again?

SonofElElyonRet:
Not necessarily. I remember the days of private placement madness. Stockbrokers were selling to the public.. union diagnostic, geo fluids, acorn petroleum etc

I thought private placement is usually prearranged and involves only few investors. Is this one going to be open like an IPO?

sky2891:
Firstholdco private placement expected to commence by month end and to close by September. (Probably 30days window).
I hope the terms and conditions are favourable.

BREAKING: FBN Holdings takes over Egbin Power, Ikeja Electric, FIPL

https://thesun.ng/breaking-fbn-holdings-takes-over-egbin-power-ikeja-electric-fipl/?amp

Ote$ means business. Anybody owing FBN better pay up.

Real money is like wild fire. When you get it it grows so fast.

GeneralDae:
Dangote cement expanding in Ivory Coast.

Afreximbank leads $1.35 billion financing for Dangote Refinery in landmark $4 billion syndicated deal 


https://nairametrics.com/2025/08/04/afreximbank-leads-1-35-billion-financing-for-dangote-refinery-in-landmark-4-billion-syndicated-deal/

If it's Oando we could have seen 4 days of full bid.

Chai! Aso Savings has N50.7bn negative shareholder funds. And yet if its suspension is lifted now you will see full bids.

sterlingD:
ASO SAVINGS
https://doclib.ngxgroup.com/Financial_NewsDocs/44815_ASO_SAVINGS_AND_LOANS_PLC-_QUARTER_5_-_FINANCIAL_STATEMENT_FOR_2024_FINANCIAL_STATEMENTS_AUGUST_2025.pdf

https://doclib.ngxgroup.com/Financial_NewsDocs/44813_ASO_SAVINGS_AND_LOANS_PLC-_YEAR_END_-_FINANCIAL_STATEMENT_FOR_2024_FINANCIAL_STATEMENTS_AUGUST_2025.pdf

https://doclib.ngxgroup.com/Financial_NewsDocs/44816_ASO_SAVINGS_AND_LOANS_PLC-_QUARTER_1_-_FINANCIAL_STATEMENT_FOR_2025_FINANCIAL_STATEMENTS_AUGUST_2025.pdf

Don't be surprised if they come around and say they have been paying subsidy and bridging costs.

Mpeace:
So the bulk of our fuel we consume in this country is imported. Which way Nigeria?

Findings by The PUNCH, based on the latest fuel supply data obtained from the Nigerian Midstream and Downstream Petroleum Regulatory Authority, showed that a staggering 71.38 per cent of Nigeria’s daily petrol consumption in May and June 2025 was met through imports.

The remaining 28.62 per cent was sourced from the $20bn Lekki-based Dangote Petroleum Refinery. This indicates that marketers, who are expected to access products locally with ease in the country, are instead spending the country’s scarce foreign exchange to import refined petroleum products.

The NMDPRA disclosed this during a presentation to the Federation Accounts Allocation Committee for the month of June 2025. Our correspondent obtained a copy of the presentation on Sunday.

https://www.nairaland.com/8490267/fuel-imports-surge-71-marketers

More like a confirmation though of what they have always been. This is serious manipulation of market sentiment. So the next trench will only come if the full year 2025 results are bad.

megawealth01:
E bi like Wale don dey CHANGE small small

As I said before Oando is the perfect JIJO stock. Both the company and its faithfuls have the habit of pumping the stock with wild optimism and "future looking statements." Then suddenly the company has to release the inevitable marginal, bad or outright suspicious results and we are back to some support level.

Sunrisepebble:
Waiting for it at 40, I also want to do JIJO

Probably normal bargain Hunting. Most of the bids are @ N93 and below.

yMcy56:
It's even 18M bids against 2M offers as at now....
There's something fishy in NASCON that insiders might have been privy to....

Is it ok to now finally say that the ENI acquisition by Oando has failed to affect its top and bottom lines? It is now 4 quarters since the acquisition.

Agbalowomeri:
Una wey understand financial engineering over to you
This na book keeping and cooking

It is typical of Nigerian businesses - monkey see monkey do. Now, everybody thinks they can build a refinery.

ojeysky:
They never even start building, Alhaji go enjoy market domination while it lasts

The way these so called fuel marketers are complaining that the proposed Dangote fuel distribution plan will lead to job losses you would think Alhaji is going to use drones and robots to do the distribution. Yeye people.

Sunrisepebble:
The loss will be even worse when Dangote starts his fuel distribution business

FBN may breakout now after retesting 31. It needs to close above 36.50 tomorrow.

Ginalex:
Chai first bank and Dangsugar will make me have plenty money like Megawealth01 1 day

BREAKING: GTBank, UBA, First Bank, 5 Others Meet CBN Recapitalisation (FULL LIST)

https://newsonlineng.com/breaking-gtbank-uba-first-bank-5-others-meet-cbn-recapitalisation-full-list/

I will not be surprised if FBN is rated the healthiest bank in the country by year end.