₦airaland Forum

Ibime:
The original marketcap growth livelongnprospa brought was in Naira to claim it's Tinubu effect. I just dey clear am by saying it's only partly so and some of it is dollar effect.

To be fair, anyone's in line to doubt the Nigerian stock exchange as it barely follows fundamentals.

I just thought looking at Oando's, there wasnt much there that looked out of place

Ibime:
Yes but their valuation is in Naira, so even if their Earnings stand still, if their shareprice reflects their fundamentals perfectly, it should go up by Dollar-Naira delta. Also all their costs can't be in dollars. I am sure they are paying most of their staff in Naira.

Maybe but only a rookie would look at or act based on a Naira valuation for an O&G company/Oil linked asset.

The true story here may rely on further disclosure on the trading bit but I looked out for their related party disclosure and didnt see much. so maybe just maybe a favorable one/year for them

Ibime:
There are 3 elements

1. Tinubu economic liberalisation caused many stocks to go up almost double in Naira terms

2. Naira unpegging means their fundamentals are better as they earn in dollar so their valuation in Naira will go up naturally

3. Market speculation that they will get good Govt patronage now Tinubu is in power

They have 4x since Tinubu came to power. At least 70% is for the first 2 reasons

10 year trend is not that significant as oil price was in a slump from 2014 to 2021 so will reflect in their shareprice performance

Not sure the bolded is correct. Most O&G companies have all pricing - Costs and Revenue in USD, so they tend to move in sync. Even their valuations are usually in USD

In terms of their disclosure, a huge chunk of their revenue/profit came from trading of crude and petroleum products

Anyone know where I can get the actual financials of NNPC. Tried checking for it online but cant seem to find it. Just news report on it.

Some of the answers are likely there.

Also, I dont see the conspiracy with the Oando thing. All one has to do was to look at their FS. They've just turned the corner after back to back to back losses, of course, the market's gonna react to that.

Dont want to be a Negative Nancy but I'll still need more from our middle and defense.

Plus better structured football, not players chasing the ball like I keep seeing

Two roamers in the middle will never make sense to me.

Dont know who to blame at this point - Caicedo or Enzo. Would even work better if they understood each other and moved in sync

BlueMann:
Fofana's been very good

No he hasnt.

That guy is stealing a living

popizaino:
A good attacker is not difficult to know. Madueke is a good one.

You don start again abi?

When are you gonna learn to give things time?

Dont worry, wont take long before you start cussing him out in your usual fashion

Every dog has its day.

Nice one Noni, Unfortunately, I'm still not sold on him

Singapore1:
Caicedo and Enzo are the one exposing our defence

The defenders are wack too.

Players following the ball instead of sticking to positions- Fofana being the major culprit here.

Maresca hasnt done anything as far as I can see

See how the team is being carved.

Doesnt help when you have two wanderers in midfield

GloriousGbola:
The real lesson here is not to mentor on platforms whose data retention is out of your control.

Also avoid tying your persona to SM unless you are controversial as a business matter.

Snapchat it is then.

Is that what you're saying

raumdeuter:
The coming of WhatsApp has changed that. By the time I wake up there are about 12 different whatsapp chat groups with messages each with over 50 messages

And if you have kids and others sharing the same room, calls and multiple beeps can ruin yours and their sleep

Well, I'll take that risk so long as there's a chance (no matter how minute) that it is an actual emergency.

Most people who know me know not to call or ring me if it isnt. Na serious blasting you go receive.

Like you said, those are what chats are for - we'll deal in the morning

Itsrm:
Absolutely agree. I've seen people say their phone is always on silent or DND because of disturbances like that.

Unfortunately, some of us don't have that luxury.

I actually dont think I could ever get to this point in this lifetime.

So long as there's a possibility of some level of emergency that I would need to immediately know or be informed about, I'm never turning off that phone.

A stitch in time saves nine is something experience has taught me over time

[quote author=Kimbeast post=131109779]60mins of Rodri fail compilation. The rivalry between City and Madrid fans on Twitter is soo hilarious.

Rodri - 2023/24

The Ballon d’Or fraud

pic.twitter.com/2HZbZMv0YA

— ُ (@Asensii20) July 20, 2024

Gave up watching at 11 mins. Can only imagine what it took to create an hour long video of this fails. Sick!

GloriousGbola:
dangote recognizes that nigerians are suckers at theri core and do not understand that business is first and foremost about profit

for years people have celebrated mike adenuga for per second billing. they talk as if he did this out of kind heartedness

LP a labour party, adopted a capitalist who has never supported unions as their flagbearer

dangote is clearly trying to tap into the same court of nigerian public opinion

to be fair to him - he is coming from a purely corporate, profit driven mindset - and now he is having to engage NNPC, a government bureaucracy where they run on lethargy, vibes, inshAllah corruption and no consequences

NNPC where the former MD was caught with over a million dollars in a personal safe?
NNPC that is private company on paper but a nigerian parastatal in reality?
NNPC where they have a refinery in kaduna that pays people for doing nothing?
NNPC where you have to wait for 3 months or more before you get paid?

it is definitely a new experience for him especially as he is what they call a lagos northerner - one who actually hustles

but this will alo be like the case of MTN - everyone is watching to see how it turns out

It was 10 million USD brah.

Very shocking, more shocking that EFCC has done such a shoddy job and the man has been discharged of all charges and they've been asked to return the money to him

Android17:
I couldn't have said it any better. It's the unison in which they turned on him that tripped me. The statements started with "I love Biden BUT..." without missing a beat. All of them.

These lot started pretending the debate made them realize he was mentally declined. Not the fact that even months ago, his justice department via the "special counsel" could not press criminal charges because he was cognitively declined. LOL.

Stupider. Stupidest. Democrats.

You've got the floor now. Enjoy

LordAdam16:
I'm only pushing back against the idea that Tinubu is completely absolved from whatever is going on between his government and Dangote.
These guys have had it in for Dangote for over a decade. After Dangote and Otedola bought a refinery under OBJ, they got it reversed under Yar'Adua.
GEJ and Buhari kept the wolves at bay and gave him every support they could.
Then Tinubu enters, refinery is rolling out products, and now there are issues. But Tinubu has no hand...

I agree with Larride that this will be resolved.
But Dangote will sweat a little and Tinubu will drag his feet.

-Lord

Well, dont know much about the political side of things but I'll be rooting for Dangote in this whole refinery brouhaha.

Irrespective of reservations people may have about him, he's the lesser evil in this refinery story. The earlier they resolve, the better for the economy

LordAdam16:
I distinctly recall the Dangote Group confirming the raid and calling it an "unwarranted embarrassment".
https://www.bloomberg.com/news/articles/2024-01-11/nigeria-s-business-community-unnerved-after-aliko-dangote-office-raid

I guess we're back to running the Buhari "not aware" narrative.

-Lord

The raid was purely performative as is usually the case with these government agencies.

What were they expecting to find?, A cash bag of dollars?

CBN/Emefiele was being investigated for significant amount of dollars they alloted to different companies; around 60 of them - which was given to them under a special window. They wrote to these companies to provide evidence of use of these funds as it was common knowledge that most of them were just roundtripping the FX.

Read the below. Like I said, I'll rather believe a PLC than a useless government agency

https://www.premiumtimesng.com/news/headlines/656777-dangote-speaks-on-efccs-raid-of-its-headquarters.html?tztc=1

liveLongNprospa:
Lmaoo.. But this means you suddenly support Dangote for all the other things they accused him of.

As if it's not been confirmed he got fx at subsidised rate when the country was dying. 😁

Please and respectfully. Do not quote me with tosh again

Sticking with numbers and less innuendos and based off of all the videos so far, I'm more on the side of Dangote than the other party - be it government, cabal or the regulatory agency. 3 accusations has been laid against him and he's provided solid counters to them

Higher Sulphur content - currently at 30ppm and not the 600 being mentioned and is also likely to still drop - he's even challenged them to come do another check. I'll rather believe a quote from a plc than a useless failed Nigerian regulatory agency -

Monopoly - he isn't, at least with the cement business, he got into the business when Lafarge already had a major presence. He does have first mover advantage in some other areas which he's alluded to. People who put their skin in the game are allowed to reap the rewards of their labor. I'll like to see other companies take up the steel challenge he gave

Govt help - this one, I slightly disagree with, Its no news he's received some form of incentive from government in time past, maybe not this refinery but the other ones.

The honest truth that it is in the best interest of Nigeria for this refinery to work. Him getting local crude could also be beneficial for all parties. Maybe some subsidy negotiation/payments to him instead of NNPC can provide a level of respite for people at this moment instead of the rubbish cash transfers they usually do

GloriousGbola:
can you expand on this pls

Not hard to Imagine

He (Dangote) most likely got significant amount of USD at subsidized rate - With Emefiele's help of course.

Make una suffree dey yab Southgate oo.

He's still the best English coach so far in terms of results

Lets be honest.

The better team won it

Positional awareness is instinctive and very natural.

Look at the switch in space from Olmo just after the header block. Really nice

nateevs:
We are lucky to have him. First touch on the ball. GBAM. World class goal.

Nope it wasnt. He gave the original pass to Saka who passed to Bellingham before the assist though.

F*ck him though and F*ck Cucurella for making it so easy

Rodri being injured na bad omen sha

Saka na diver sha

Shaw has been good so far. Maybe Spain need to switch flanks

Sorry guys, this Yamal gives me more of a faster Mahrez vibes than anything else.

Make no mistake, Mahrez was a star too

Anyway he's still got a lot of years in the game, so we'll see

Southgate actually got it wrong with the Mainoo thing in this game

England being so defensive and fearful lol