onatisi:

Protest will not change nor move any government in Nigeria ,except a weak president like gej.
The best way to protest in Nigeria is to vote out a bad party and show them that they can only retain power if they perform ,but will this happen in Nigeria ? Definitely NO WAY

just wait and see the results of Edo and Ondo State governorship
elections and you will be shocked at how massively the same set of Nigerians complaining of high cost of living ,hunger and insecurity will vote for APC. And this are the same set of people you are calling out to protest ? Bro forget it

You are right. Nigerians are tribalists to the core.

Baxilexi:
Those clamoring for private entities to buy the refineries, you’re doing the governments bidding. A government official who claims government cannot adequately manage a business hands the same business over to his proxy and it’s all good and well, CC Alphabeta, remitta.

There are countries that run profitable government owned industries. Our laws are just too feeble and it takes only one good man to change the narrative.

How many other companies operate in the Saudi upstream or downstream sector? Or in Russian oil and gas?

For the protesters, this is something that deserves both NLC and others at large, the only thing holding local refining back isn’t technical setbacks but corruption.

Citing an example
Oando has recorded consistent losses for almost a decade, on the eve or wee hours of someone’s election victory, they secure an $800 million loan and purchases ENI assets. Who loans an unworthy creditor money?
https://www.financialnigeria.com/nigerian-bourse-probes-oando-s-record-loss-sustainable-photovideo-details-193.html
https://www.thepointng.com/oando-records-17-drop-in-turnover-n141bn-loss-after-tax-in-fy-2020/
https://nairametrics.com/2023/11/15/oando-secures-800-million-afreximbank-commitment-for-asset-acquisition/?amp=1
https://doclib.ngxgroup.com/Financial_NewsDocs/37920_OANDO_PLC-_QUARTER_5_-_FINANCIAL_STATEMENT_FOR_2021_FINANCIAL_STATEMENTS_MARCH_2023.pdf


Please push them to manage it better and not sell off, this is our cash cow. In the foreseeable future only the government should operate in oil and gas.

What a warped and ridiculous logic! So you are pained that a bank like Afrexim bank gave a loan of USD800m to Oando even though they have been making losses for almost a decade.
So who should the bank give loans to? Only to companies that are making good profits and may not even need the loan?
It is like saying that a medical doctor should no longer give medication to a patient because the patient has been sick for a very long time.
For your information, banks do give loans to companies that are even moribund in order to resuscitate them. Banks also give loans to entirely new companies that are just getting established. What matters is the business case or plan that you have to convince the bank that you will be able to repay the loan.
So what is totally wrong with giving loan to a company that had made profits in the downstream sector but has now experienced losses in the early stages as an upstream company?
Banks gave Oando loans long before Tinubu became president. You cannot say everything that to comes to Oando now is purely because Bola Tinubu is now president.

By the way, I am not a fan of Bola Tinubu. His government is a disaster as far as I am concerned, but let us stop telling lies just because we do not like someone.

mikeapollo:


What a warped and ridiculous logic! So you are pained that a bank like Afrexim bank gave a loan of USD800m to Oando even though they have been making losses for almost a decade.
So who should the bank give loans to? Only to companies that are making good profits and may not even need the loan?
It is like saying that a medical doctor should no longer give medication to a patient because the patient has been sick for a very long time.
For your information, banks do give loans to companies that are even moribund in order to resuscitate them. Banks also give loans to entirely new companies that are just getting established. What matters is the business case or plan that you have to convince the bank that you will be able to repay the loan.
So what is totally wrong with giving loan to a company that had made profits in the downstream sector but has now experienced losses in the early stages as an upstream company?
Banks gave Oando loans long before Tinubu became president. You cannot say everything that to comes to Oando now is purely because Bola Tinubu is now president.

By the way, I am not a fan of Bola Tinubu. His government is a disaster as far as I am concerned, but let us stop telling lies just because we do not like someone.

weyreypey:


https://saharareporters.com/2024/08/21/nigerian-state-owned-oil-company-nnpc-retail-surrenders-control-ovh-energy-operator

Your answer is in the link above.

I see it as a civic duty to educate my fellow citizens. I cast no aspersion but reveal truths, and when you see these truths be kind enough to tell your brothers and sisters.

It’s an allegory of the cave paradigm.

Supported

Supported

ORISA37
AND MUST SELL WHOLLY IN NIGERIA AND TO NIGERIA. NO EXPORT UNTIL THE LOCAL MARKET IS SATISFIED.

lexy2014:


why do you doubt it?

at what point would you believe that Nigerians have been stretched beyond limit?

O stand to be corrected we haven't been stretched beyond limit.

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