Emilokan

Oshokhai69:


Guy, what the hell is this crap you wrote? The average person on this forum is an idiot!

You can speak for yourself. Just say you don't know what project gazelle is
Oando approached Afeximbank for $800m loan to purchase Agip.
Few months later, same Oando is borrowing Nigeria $500m through same Afeximbank.
Oando's collateral for its $800m is unknown.
Nigeria's collateral for Afeximbank is 90kbpd of crude totalling 164mb of crude for liquidation of Nigeria's loan. At $77pb, that's a total of $12bn for a $3.3bn loan.
Hope your brain is starting to work now.

Kukutenla:

You can speak for yourself. Just say you don't know what project gazelle is
Oando approached Afeximbank for $800m loan to purchase Agip.
Few months later, same Oando is borrowing Nigeria $500m through same Afeximbank.
Oando's collateral for its $800m is unknown.
Nigeria's collateral for Afeximbank is 90kbpd of crude totalling 164mb of crude for liquidation of Nigeria's loan. At $77pb, that's a total of $12bn for a $3.3bn loan.
Hope your brain is starting to work now.

I can’t take serious a dullard that doesn’t know the difference between borrow and lend. It’s a waste of my time to engage you in any discussion..

Once again, #eBOLA has come to STEAL, KILL AND DESTROY!🇳🇬🇳🇬🇳🇬🇳🇬🇳🇬
# useless govt of self serving THIEVES 💯💯💯🇳🇬🇳🇬🇳🇬🇳🇬

Thiefnibu

Don't mind the idiots,they think oando will just bring out that kind of money to buy Agip even if the fund is there.

Believeintruth:


The same Afrexim whose chairman was investigated over the loan given to TGI owners of Titan trust for the acquisition of Union Bank. What was Oando's condition before the loan was given to them? How can a company knee deep in debt be able to secure a loan. Can't you see the hidden hand that made them secure the facility? It was clear they were going to get Agip because of the person backing them, so to secure the loan from Afrexim was easy.

See we know this game very well you cannot play coy with us

Oshokhai69:


I can’t take serious a dullard that doesn’t know the difference between borrow and lend. It’s a waste of my time to engage you in any discussion..

I can't believe you are still not getting it.
Are you serious or acting?
Oando a technically broke company who can't pay dividend to shareholders obtain a loan from afreximbank totalling $800m to buy off lucrative Agip shares.
According to you, the loan is collaterized with the assets being purchased never wonder how ridiculous that sounds.
Few months later, same company is lending NNPCL, a company that's been declaring profits in the same industry year after year a princely sum of $500m through same Afeximbank it borrowed from and yet to liquidate.
Meanwhile Oando is ostensibly a competitor to NNPCL in the same industry and the collateral for the NNPCL loan is same oil production you said it used earlier.
I hope you understand the shadiness of the whole deal now.

FreeStuffsNG:
Ignorance mixed with criminal defamation and mischief is bliss to you. Smh

Massive Congratulations to Oando Plc!

This is another milestone after the 2014 acquisition of ConocoPhillips during the locust years of PDP.

Many ignorant people like OP don't know this is not the first major deal by Oando Plc, they don't know that it's a company that belongs to every Dick, Tom and Harry who can buy its Oando shares on NSE and JSE currently selling cheap at N43.50 per share. Oando shares that you can buy first thing tomorrow even if it's as low as N5k worth!! You are here swimming in ignorance that it's a Tinubu company. Smh.

These loud, uncouth, criminal defamers are mostly ignorant people who don't even know that the Nigerian Presidency has nothing to do with Oando and that OVH is not even owned by Oando Plc. Smh.

May this time bring the company and its shareholders great and bountiful rewards.

Shareholders of Oando had gone through thick and thin with huge debt after their company share price crashed owing to oil price crash immediately after the ConocoPhillips deal, so bad that they have not recieved dividends for almost a decade! Thank you Oando Plc shareholders for not giving up.

May God continue to bless Oando and the Federal Republic of Nigeria.
Check my signature for free stuffs!

STFU..... EFULEFU

nairamaniac:

They probably made shareholders believe the company was in crisis so their shares would be sold to the Cabals of the company.

Now the Cabals have more control of the company and have kicked you and several millions of common-men.

Suddenly they are stronger than those that even innitially aquired them.


The fewer, the merrier!!!

Another Valid angle.

AcuraZDX:
Tulumbu, his family, friends, associates are busy enriching themselves..

But his wife is telling NIGERIANs to be patient and learn how to plant Efo..

Kai..

Don't mind her

Kukutenla:

I can't believe you are still not getting it.
Are you serious or acting?
Oando a technically broke company who can't pay dividend to shareholders obtain a loan from afreximbank totalling $800m to buy off lucrative Agip shares.
According to you, the loan is collaterized with the assets being purchased never wonder how ridiculous that sounds.
Few months later, same company is lending NNPCL, a company that's been declaring profits in the same industry year after year a princely sum of $500m through same Afeximbank it borrowed from and yet to liquidate.
Meanwhile Oando is ostensibly a competitor to NNPCL in the same industry and the collateral for the NNPCL loan is same oil production you said it used earlier.
I hope you understand the shadiness of the whole deal now.

Stop making noise while wallowing in ignorance.
Ability to pay dividends is not the sole factor to decide whether a bank can give you loan or not. What matters is the business case(or business case) viability and feasibility of your business projections. Oando got loan from Afrexim Bank because the bank understands the potential impact of the acquisition of ENI assets in Nigeria.

Oando has crude oil reserves of about 1 billion barrels. How much is that if crude oil is selling at $70 per barrel (or even $50 per barrel)?. Then compare that to a loan of $800m from Afrexim Bank! So why wouldn't the bank accept the reserves as collateral and give a loan that is not even up to $1billion?

Oando is NOT a competitor to NNPC! There is no oil and gas company in the upstream sector in Nigeria that is a competitor to NNPC. They can only be partners to NNPC because NNPC is the national oil company and all oil and gas resources are vested in the national oil company (on behalf of the citizens) The other companies therefore collaborate with NNPC in the industry. They cannot exist without the NNPC!

The $500m loan that Oando gave to NNPC is an advance payment of the fees, charges, etc. that Oando would normally pay for crude oil that it would drill in Nigeria in the future. It is a loan that NNPC will repay in cash;

Kukutenla:

I can't believe you are still not getting it.
Are you serious or acting?
Oando a technically broke company who can't pay dividend to shareholders obtain a loan from afreximbank totalling $800m to buy off lucrative Agip shares.
According to you, the loan is collaterized with the assets being purchased never wonder how ridiculous that sounds.
Few months later, same company is lending NNPCL, a company that's been declaring profits in the same industry year after year a princely sum of $500m through same Afeximbank it borrowed from and yet to liquidate.
Meanwhile Oando is ostensibly a competitor to NNPCL in the same industry and the collateral for the NNPCL loan is same oil production you said it used earlier.
I hope you understand the shadiness of the whole deal now.

The more you write, the more you expose your low intelligence and ignorance on these matters. You are not worth my time at all. Na so dumbos just full this forum dey talk nonsense with confide about topics wey dem no understand.

mikeapollo:


Stop making noise while wallowing in ignorance.
Ability to pay dividends is not the sole factor to decide whether a bank can give you loan or not. What matters is the business case(or business case) viability and feasibility of your business projections. Oando got loan from Afrexim Bank because the bank understands the potential impact of the acquisition of ENI assets in Nigeria.

Oando has crude oil reserves of about 1 billion barrels. How much is that if crude oil is selling at $70 per barrel (or even $50 per barrel)?. Then compare that to a loan of $800m from Afrexim Bank! So why wouldn't the bank accept the reserves as collateral and give a loan that is not even up to $1billion?

Oando is NOT a competitor to NNPC! There is no oil and gas company in the upstream sector in Nigeria that is a competitor to NNPC. They can only be partners to NNPC because NNPC is the national oil company and all oil and gas resources are vested in the national oil company (on behalf of the citizens) The other companies therefore collaborate with NNPC in the industry. They cannot exist without the NNPC!

The $500m loan that Oando gave to NNPC is an advance payment of the fees, charges, etc. that Oando would normally pay for crude oil that it would drill in Nigeria in the future. It is a loan that NNPC will repay in cash;

I always say it that the luckiest people on earth are Nigerian politicians especially those of the APC persuasion. To have so many mugus defending you daily while you are profitting from their miseries.

My friend, point out where I said a bank's decision to grant loans is solely based on if you can pay dividends or not. Are you aware that as at 2022, Oando had an asset to liabilities ratio of over 89% and declared a loss of over 52%? That is the company that Afreximbank gave a $800m loan to.

As if that is not enough, same "broke company" that SEC suspended since 2017 based on criminal infractions in its books is suddenly bouyant enough to give our NNPC a loan of $500m!!

Are you aware that Oando posted a profit of over N74bn after tax last year from its previous loss making years and the profit is not due to any operations but simply forex based assets.

In other words, while hungry people like you were whining from the naira devaluation and attendant inflation, the policy aka floating the currency was massively favouring Tinubu and his family.

Yet you are here to defend him. They even got folks like you to blame the banks for the naira losses which was their gain, and Tinubu in return brought up a windfall tax of a whopping 75% for the banks to pay while his own Oando is borrowing Nigeria money from the largesse!

Oh God!! I envy Tinubu. Just imagine having so many mugus to defend your family heist.

And for your info, NNPC enters into JVs with IOCs only and not indigenous oil firms. Oando is an indigenous oil firm and by virtue of PIA 2021, it is a competitor to NNPC in the upstream sector so stop running your mouth on what you don't know.

And you are claiming I'm ignorant when project gazelle is backed with crude oil not cash. I swear, Tinubu is one lucky dude. I only pray for his kind of grace. So many zombies

Oshokhai69:


The more you write, the more you expose your low intelligence and ignorance on these matters. You are not worth my time at all. Na so dumbos just full this forum dey talk nonsense with confide about topics wey dem no understand.

Ok. Let me indulge you and ignore the insults. Explain to me what I don't understand

Kukutenla:

I always say it that the luckiest people on earth are Nigerian politicians especially those of the APC persuasion. To have so many mugus defending you daily while you are profitting from their miseries.

My friend, point out where I said a bank's decision to grant loans is solely based on if you can pay dividends or not. Are you aware that as at 2022, Oando had an asset to liabilities ratio of over 89% and declared a loss of over 52%? That is the company that Afreximbank gave a $800m loan to.

As if that is not enough, same "broke company" that SEC suspended since 2017 based on criminal infractions in its books is suddenly bouyant enough to give our NNPC a loan of $500m!!

Are you aware that Oando posted a profit of over N74bn after tax last year from its previous loss making years and the profit is not due to any operations but simply forex based assets.

In other words, while hungry people like you were whining from the naira devaluation and attendant inflation, the policy aka floating the currency was massively favouring Tinubu and his family.

Yet you are here to defend him. They even got folks like you to blame the banks for the naira losses which was their gain, and Tinubu in return brought up a windfall tax of a whopping 75% for the banks to pay while his own Oando is borrowing Nigeria money from the largesse!

Oh God!! I envy Tinubu. Just imagine having so many mugus to defend your family heist.

And for your info, NNPC enters into JVs with IOCs only and not indigenous oil firms. Oando is an indigenous oil firm and by virtue of PIA 2021, it is a competitor to NNPC in the upstream sector so stop running your mouth on what you don't know.

And you are claiming I'm ignorant when project gazelle is backed with crude oil not cash. I swear, Tinubu is one lucky dude. I only pray for his kind of grace. So many zombies

Bola Tinubu is not a member of ENI Management team

These are things you need to do if not satisfied with the ENI management that sold AGIP to Oando.
i. File a petition to ENI management in Nigeria to explain headquarters in Italy
ii. File a petition to ENI management in Italy
iii. File a petition in Court against ENI in Nigeria and Italy
iv. File a petition in court against Oando in Nigeria

You must have a very myopic view to believe that everybody that says something to defend Oando is a fan of Tinubu or an APC supporter.
You would have a better view if you had studied Corporate Governance to an appreciable level

NB:
Bola Tinubu is a failure and his government is totally useless.
But I am not so stupid to just attack Oando or any other business just because the owner bears the same surname with Bola Tinubu. If I dislike someone, it does not mean I must tell useless lies against the person

mikeapollo:


Bola Tinubu is not a member of ENI Management team

These are things you need to do if not satisfied with the ENI management that sold AGIP to Oando.
i. File a petition to ENI management in Nigeria to explain headquarters in Italy
ii. File a petition to ENI management in Italy
iii. File a petition in Court against ENI in Nigeria and Italy
iv. File a petition in court against Oando in Nigeria

You must have a very myopic view to believe that everybody that says something to defend Oando is a fan of Tinubu or an APC supporter.
You would have a better view if you had studied Corporate Governance to an appreciable level

NB:
Bola Tinubu is a failure and his government is totally useless.
But I am not so stupid to just attack Oando or any other business just because the owner bears the same surname with Bola Tinubu. If I dislike someone, it does not mean I must tell useless lies against the person

KKK. I accept your claim that you are not a Tinubu supporter. But at least you should have read and understood before attacking me.

You disappoint me really. Look at what I wrote up there. Pure facts and now you're referring me to Eni management. What is Eni management's business with what Oando does. Is Eni a regulator for Oando?

And you take it further by saying Tinubu is not a member of Eni. Are you sure you have not begun to confuse issues?

Rest abeg if you don't understand anything. Don't just be jumping into things you don't have an idea of and accusing the other person of ignorance!!

Kukutenla:


KKK. I accept your claim that you are not a Tinubu supporter. But at least you should have read and understood before attacking me.

You disappoint me really. Look at what I wrote up there. Pure facts and now you're referring me to Eni management. What is Eni management's business with what Oando does. Is Eni a regulator for Oando?

And you take it further by saying Tinubu is not a member of Eni. Are you sure you have not begun to confuse issues?

Rest abeg if you don't understand anything. Don't just be jumping into things you don't have an idea of and accusing the other person of ignorance!!

You also cannot blame Afreximbank for giving $800m loan to Oando.
If you are not satisfied, then you can petition their management or sue them to court accordingly.
None of us can sit in our houses/offices and determine which company Afreximbank (or any bank) should give loans to.
Oando acquired assets of Conocco Phillips for $1.5b in 2014.
Was that too done because Bola Tinubu was the president?

mikeapollo:



You also cannot blame Afreximbank for giving $800m loan to Oando.
If you are not satisfied, then you can petition their management or sue them to court accordingly.
None of us can sit in our houses/offices and determine which company Afreximbank (or any bank) should give loans to.
Oando acquired assets of Conocco Phillips for $1.5b in 2014.
Was that too done because Bola Tinubu was the president?

Where did I blame afreximbank for giving a loan to Oando?
Stop making things up and pinning it on me abeg.
How did Oando acquire Phillips oil? Did they declare profits afterwards and even started borrowing money to NNPCL?
Anyone with half a brain will know there's something shady going on when a loss making company is accessing million dollars worth of loans and even having enough money to lend to a profit making company in the same industry.
How does that make financial sense to you?

Kukutenla:

Where did I blame afreximbank for giving a loan to Oando?
Stop making things up and pinning it on me abeg.
How did Oando acquire Phillips oil? Did they declare profits afterwards and even started borrowing money to NNPCL?
Anyone with half a brain will know there's something shady going on when a loss making company is accessing million dollars worth of loans and even having enough money to lend to a profit making company in the same industry.
How does that make financial sense to you?

Stop killing yourself because of Oando.
Oando now receives almost all its revenues in US dollars because they now sell crude oil to international customers; that is why they were able to give $500m payment in advance to NNPCL. They are now significant JV partners to NNPC
In 2014 when Oando bought Conocco Phillips, they were still operating in the downstream sector selling refined petroleum at filling stations and receiving payments naira; they were not significant JV partners to NNPC so there would be no need to give such loan to NNPC.

Please learn and educate yourself about the transactions that happen in the oil and gas JV arrangements before you say things that are not true and draw wrong conclusions.