[quote author=KarlTom post=134619788]UNITY BANK AGM RESOLUTIONS

https://doclib.ngxgroup.com/Listings-site/corporate-disclosure-site/Documents/UNITY%20BANK%20PLC%20-%20RESOLUTIONS%20AT%20AGM.pdf[/quote

Seems the link is broken it's not opening

[quote author=Umehj88 post=134620466][/quote]
Go through this link to access it

https://doclib.ngxgroup.com/Issuers-section/corporate-disclosures/company-results

GeeKudi:
Where do you want them to get this "650k crude daily" from?

What's Nigeria's bpd?

SonofElElyonRet:


Maybe in your pocket for the time being until things stabilise...🤷

Or just a money market fund.
So he doesn't spend it

Youngzedd:
Dangote Refinery To Save Nigeria $30bn In Forex Yearly, Says Emefiele


https://www.youtube.com/watch?v=FRpXSX3FC48&pp=ygUPI3NhdmVuaWdlcmlhbm93#bottom-sheet


Using USD to buy products produced in Nigeria is against the law of the land.


The FG should support Dangote Refinery with their full chest. Give this man 650k crude daily and end fuel importation.

@Bolded
Unfortunately crude oil among other global commodities are exceptions to this rule..
I suppose whole-sale byproducts as well especially as DR is located in a free Trade zone

KarlTom:
1st line. 1st paragraph...

We literally buy in ₦

Now to still buy in ₦
(only this time the dollar 💵 equivalent)

Make dem extend this Naira deal Ooo... and try ramp up production even if na Manual drilling, we get the human capital 💪
( I get shovel and cutlass )

Youngzedd:


Dangote knows how to play the game.

Nice one.

You Gerrit..
Tryng to Force a good deal or he backs out.

RodgersAkpafu:


Well, they are doing themselves

If I were them
I will strike a deal with dangote to list on the NSE
Buy the shares for cheap pre ipo (via proxies of course)

then give him all the support that he needs up to the point of IPO
then cash out massively from the value created

Win for my pocket
Win for dangote group
Win for Nigeria....


That's how corruption is practiced in Asia

I guess they were smart enough to think of that.
But the FG via NNPC chickened out at only 7% stake like Chickens 🐔 🐔


Probably they felt their refineries will also be a game changer as well.

Hogwarthtrades:


I strongly believe the next phase of Naira for crude swap deal would definitely be longer probably through 2027 considering the success of the 6 months trial so far.

The challenge the committee would be trying to resolve would be figuring out what the benchmark of crude pricing for this deal would be (oil price in the world market should start to come down from here probably towards 60's or lower ), and figure out how to honour forward swaps arrangement the govt/ NNPC made with Nigeria's creditors.

The current administration know that needful must and would be done. As for support, Dangote refinery and local refineries are slowly getting the support they need in the face of multiplicity of greedy interest facing the oil n gas sector. That said, can more be done, of course yes! slow and steady Nigeria is progressing. Viva Nigeria!

Na the koko be this
I Hope dem deal-makers and deal-brokers in that their committee are thinking like this

I am dedicating all my 2025 Dividends to Waziri Aminu Tambuwal, former Governor of Sokoto State.

Please, if you have his bank account number, post it here.

If not for him...

chimex38:

I guess they were smart enough to think of that.
But the FG via NNPC chickened out at only 7% stake like Chickens 🐔 🐔


Probably they felt their refineries will also be a game changer as well.

True
But I meant through back door for personal ownership, not govt ownership

Afriland Properties has declared
N0.50 dividend.
About 2.56%

RodgersAkpafu:


True
But I meant through back door for personal ownership, not govt ownership

OK.. I get now

codeME:
I have some 150K till the end of the year, any suggestion on where to put it please

buy dangote sugar and nascon

SonofElElyonRet:


Maybe in your pocket for the time being until things stabilise...🤷

thank you so much Boss! sincere appreciations.

PuristForest:
buy dangote sugar and nascon

oh thank you so much sir. my sincere appreciation.

Modern and properly operational ports are a critical asset for a $1 trillion dollar economy, but mehn....

https://saharareporters.com/2025/03/18/tinubus-lebanese-ally-chagoury-awarded-700million-lagos-ports-contract-despite-lacking

Please don't make this about tribe or religion. Only losers and suckers fight about such distractions.

codeME:


thank you so much Boss! sincere appreciations.

yak:


Or just a money market fund.
So he doesn't spend it

Another suggestion for you..

Do your due diligence. Decision is yours

Its taking CBN like forever to allot shares to customers from GTB's last public offer

anybody know the reason for this??

Cc @emmanuelewumi

sterlingD:

Go through this link to access it

https://doclib.ngxgroup.com/Issuers-section/corporate-disclosures/company-results

Nothing appetizing about the disclosures.

We continue to wait for the merger details and lifting of suspension of the shares.

chimex38:

I guess they were smart enough to think of that.
But the FG via NNPC chickened out at only 7% stake like Chickens 🐔 🐔


Probably they felt their refineries will also be a game changer as well.

The initial deal which was made in 2020/2021 assumed that Nigerian NNPC would be able to supply Dangote about 300k bpd crude for the first 2 years of operations (during test runs and start- ups) to form the remaining 12.5% stake.
At that time, crude oil production still hovered around 1.8 million bpd comfortably and it seemed easy to get to 2 million bpd again which it was in 2019 before COVID. But in 2021/2022/2023 it had fallen gradually to an all time average low of 1.2 -1.3 million bpd. NNPC cancelled the former contract and eventually settled for 7.5% stake which they still had to borrow for.

I watched the AGM. The chairman assured shareholders that before June an EGM will be called to announce the merger with Providus bank as necessary approvals have been gotten. So any moment from now. Also according to them 2024 result is far better than 2023. So we wait!

faoogoke:


Nothing appetizing about the disclosures.

We continue to wait for the merger details and lifting of suspension of the shares.

HesInMe:
Modern and properly operational ports are a critical asset for a $1 trillion dollar economy, but mehn....

https://saharareporters.com/2025/03/18/tinubus-lebanese-ally-chagoury-awarded-700million-lagos-ports-contract-despite-lacking

Please don't make this about tribe or religion. Only losers and suckers fight about such distractions.

This is wrong if true.

GeneralDae:
https://nairametrics.com/2025/03/19/experts-predict-a-positive-outlook-for-okomu-oil-and-presco-in-2025-disclose-reasons/

This was done by the research team of cardinal stones. I stopped reading when I saw the part below.

"CardinalStone also estimated that Presco’s crude palm oil output would reach 53,612 tons in 2025, reflecting a significant 72.6% year-on-year increase, while Okomu Oil is expected to produce 79,997 tons in 2025."

Meanwhile PRESCOS 2024 crude palm oil output was over 92,000 metric tons. How could an increase from this level go down to around 53k tons and they call that an increase of 72.6% outlook fkr 2025.
On the other hand, an estimated increase to 53k tons at 72% from previous year means that the previous year would have been about 41,000 tons when in reality it's not true as their 2024 report shows over 92k tons.

It's not always proper to rely on reports from some of these research teams no matter how big the company is.

I may be wrong here but I will like some others to touch light this matter

This is where the issues lie

1. The crude-for-naira deal is "NNPC supplies DR in ₦, and DR supplies the Nigerian market in ₦". This will eliminate any and every FX requirement for servicing Nigerian market.

2. DR gets a sizable stock from foreign markets so I don't think he is illiquid in FX.

3. I choose to read between the lines and I make bold to say that all this is the working of the 'cabal' and those hellbent on taking us back to pre-PIA era.

4. Finally, we should ask ourselves how the importers get their FX since they sell their stock to Nigerians in ₦.

GeneralDae:

Did Dangote cease selling to Nigeria or he ceased selling to Nigeria in naira?

Well, I look at this from a different angle. The Government made the crude for naira deal for 6 months as a head start but the crude for naira deal while brilliant, also has its complications.

1) It doesn’t make Dangote liquid enough in dollars (which his business requires). The volume of naira transactions Dangote would then have to convert to dollars to import parts of the remaining crude he needs to run the refinery operations and service his debts also makes the whole exercise somewhat redundant.

...

4) Dangote himself can import WTI crude from America which is cheap and his refinery can refine it which gives him the advantage.

Given all of these points, I can see why the Government paused the scheme for a while to study the loopholes if any and to see if it can be better.

GeneralDae:

The initial deal which was made in 2020/2021 assumed that Nigerian NNPC would be able to supply Dangote about 300k bpd crude for the first 2 years of operations (during test runs and start- ups) to form the remaining 12.5% stake.
At that time, crude oil production still hovered around 1.8 million bpd comfortably and it seemed easy to get to 2 million bpd again which it was in 2019 before COVID. But in 2021/2022/2023 it had fallen gradually to an all time average low of 1.2 -1.3 million bpd. NNPC cancelled the former contract and eventually settled for 7.5% stake which they still had to borrow for.

Yes I remember this deal.
It would have been a better deal.
Dangote reduces cost of raw materials-Crude to a minimum as NNPC mops up their stake through free crude delivery.

DR Ramps up profit at a faster pace to pay off debt.
And by far a reduced cost of petrol at the stations .

NNPCL claims to have supplied 48m barrels under the crude-for-naira deal.

That's about 270bpd on average over 180days.

DR has ramped up production to 500k bpd as at January 2025.
The shortfall is gotten from international markets...

GeeKudi:
NNPC don't even have the capacity to supply DR with crude at the moment because of the burden of the forward contracts being serviced. This is public knowledge but it is always very easy for Nigerians to curse and bash govt while ignoring all known facts. It is what it is.

The only way they can supply the local refining industry is via increased crude production. This in itself is not a walk in the park.

While not making excuses, I believe that NNPCL body language was not DR-friendly

The deal could have been modified to read "if production drops below 1.5m bpd, the quota drops to, say, 200k bpd" OR "NNPCL is obligated to supply 650k bpd provided daily production is at least 1.8m bpd"

There are plausible clauses that could have been inserted rather that chickening out the way they did.

Crude oil is a volatile commodity so no deal can be rubber stamped without clauses...

GeneralDae:

The initial deal which was made in 2020/2021 assumed that Nigerian NNPC would be able to supply Dangote about 300k bpd crude for the first 2 years of operations (during test runs and start- ups) to form the remaining 12.5% stake.
At that time, crude oil production still hovered around 1.8 million bpd comfortably and it seemed easy to get to 2 million bpd again which it was in 2019 before COVID. But in 2021/2022/2023 it had fallen gradually to an all time average low of 1.2 -1.3 million bpd. NNPC cancelled the former contract and eventually settled for 7.5% stake which they still had to borrow for.

Nice 👍

Ddll:
I watched the AGM. The chairman assured shareholders that before June an EGM will be called to announce the merger with Providus bank as necessary approvals have been gotten. So any moment from now. Also according to them 2024 result is far better than 2023. So we wait!

KarlTom:
This is where the issues lie

1. The crude-for-naira deal is "NNPC supplies DR in ₦, and DR supplies the Nigerian market in ₦". This will eliminate any and every FX requirement for servicing Nigerian market.

2. DR gets a sizable stock from foreign markets so I don't think he is illiquid in FX.

3. I choose to read between the lines and I make bold to say that all this is the working of the 'cabal' and those hellbent on taking us back to pre-PIA era.

4. Finally, we should ask ourselves how the importers get their FX since they sell their stock to Nigerians in ₦.

I struggle to see the difference here. Official reports I’ve seen puts Dangote’s current supply at around 400k bpd as at January 2025 (although Edwin now claims it is at 500k bpd).

The Nigerian market on average consumes over 330k bpd which means presently at least, he his selling mostly to Nigeria and all in naira at probably 250k bpd worth of petroleum products and exporting just a little.

When he tries to import the extra 300k bpd to ramp up the refinery’s capacity he needs dollars and taking all of those naira sales to the Banks to get dollars also puts pressure on the naira. So I don’t see the major difference at least until Dangote gets to full capacity and can export the other half comfortably.

With this new method, marketers would first put naira under pressure by searching for dollars to buy from Dangote but the dollars is recycled because Dangote takes those dollars to then buy crude from Nigeria (mostly from NNPC at 300k bpd approximately and note that the refining margin is low so the difference with his total sales to marketers is not that much). NNPC then recycles the dollars back to CBN, so it remains at equilibrium. Dangote on the other hand can then export $1 Billion worth of polypropylene yearly while saving us $260 million of annual polypropylene imports simultaneously. I believe the polypropylene and other raw materials for manufacturing may likely be sold in naira still.

HesInMe:
Modern and properly operational ports are a critical asset for a $1 trillion dollar economy, but mehn....

https://saharareporters.com/2025/03/18/tinubus-lebanese-ally-chagoury-awarded-700million-lagos-ports-contract-despite-lacking

Please don't make this about tribe or religion. Only losers and suckers fight about such distractions.

You are right my brother. Nigeria needs as many ports as possible to be able to generate the kind of income required to generate a USD1 Trillion economy. The Ogun State Government (OGSG) recently activated plans with Dangote Group to develop the Olokonla Free Trade Zone into an export terminal at Ijebu Waterside. This location was allegedly the preferred location for the Dangote Refinery but it was alleged that the Governor at that time scuttled those plans as well as stopped work on the 6 million tonnes cement factory being built in Itori which may be the largest cement factory.

Though we have issues with him, I will applaud him for taking that bold decision to see to the completion of the Olokonla project and the cement factory in Itori (Ibeshe zone) which has led to reconstruction of the Papalanto road into a dual carriage highway.

Many State Governors need to take the bull by its horn, collaborate and start initiating these major projects that will benefit their people rather than continue to complain everyday or even destroy the ones others have designed whilst spending their resources of esoteric expenses.

From ports to massive housing estates (encompassing massive schools and vocational centres, massive health care and recreational facilities), agricultural growth hubs, rail infrastructure connecting states, etc. The opportunities are massive but continue to remain untapped thereby leaving so much monies on the table to be wasted.

Many people thought the current president was nuts when he started the development of the Lekki Free Trade Zone and Port (Export and Import Terminal) but we are all witnesses to how that infrastructure has been attracting investments to the state and the Ibeju area.

The heads of Nigeria's provinces need to wake up as soon as possible and shock the world by turning its economic potentials into economic realities.

KarlTom:
While not making excuses, I believe that NNPCL body language was not DR-friendly

The deal could have been modified to read "if production drops below 1.5m bpd, the quota drops to, say, 200k bpd" OR "NNPCL is obligated to supply 650k bpd provided daily production is at least 1.8m bpd"

There are plausible clauses that could have been inserted rather that chickening out the way they did.

Crude oil is a volatile commodity so no deal can be rubber stamped without clauses...

But the supply is not to only DR. Other local refineries too would benefit