Mkenya2019:
Apart from NNPC what else do Nigeria gov own - nothing much. In Nairobi stock exchange listed companies...Kenya gov has shareholding in 16 of them...including Safaricom, KCB, Kengen, KPLC, name it.

Unlike NNPC which started making profit in this oil crisis - kenya public investment always make profit - and kenya gov get dividends.

The increase in dividend profits for 2021/22 of 13.67 billion Kenyan Shillings over the target amount of 29.9 billion Kenyan Shillings that the exchequer had set for the period indicates stronger financial performance.
In the fiscal year ended June, the government earned US$365 million from public investments, boosting the National Treasury’s ability to finance development initiatives
The dividend profits are less than half of the 116.14 billion shillings that the government generated from its shareholdings in the 2019/20 fiscal year
The Treasury will receive a total payout of Sh19.4 billion for its 35 per cent stake in Safaricom

That's chicken feed compared to what the Nigerian government makes from NLNG company, an international gas company in which Nigerian government owns 49%. This is a company celebrated for its proper management and consistent profitability. There's no way little India can compare to Nigeria in this kind of things with your cashew and tea backed economy.

NLNG is owned by NNPC (49%). Stop being a cartoon.

Kenya gov has shareholding in 16 listed companies and about 300 SOES that are not listed. Including in two fully state owned oil companies - National Oil and Kenya Pipeline. Kenya Oil pipeline always make gov more than 100M dollars in dividend or surplus every year...I doubt it has ever made a loss..how now? How does Nigeria oil sector turn a loss

Name any sector kenya gov has a play and most of it profitable.

obaaderemi:
That's chicken feed compared to what the Nigerian government makes from NLNG company, an international gas company in which Nigerian government owns 49%. This is a company celebrated for its proper management and consistent profitability. There's no way little India can compare to Nigeria in this kind of things with your cashew and tea backed economy.

rvp20182:
NLNG is owned by NNPC. Stop being a cartoon. Kenya gov has shareholding in 16 listed companies and about 300 SOES that are not listed. Including in two oil companies - National Oil and Kenya Pipeline. Kenya Oil pipeline always make gov more than 100M dollars in dividend or surplus every year.

Name any sector kenya gov has a play and most of it profitable.

NLNG is not owned by NNPC, I thought you were with your brain this early. Turns out I'm mistaken. NLNG is owned 49% by the Nigerian government, through NNPC. Shell, Total and Eni own The remaining 51%. The company is not run by NNPC. That's why it easily declares a profit every year. Last year alone Nigeria got a revenue of $400m from nnlg alone, which is more than the$300m your government got from its entire public investment, a figure you posted here yourself.

Mkenya2019:
KCB is now just behind Zenith and FirstBank. Next year they overtake Zenith and just remain behind First Bank. 2024 they overtake FirstBank. Equity you can bet will be following closely. Now I think you should give up.

So Zenith and First Bank are not planning to move forward next year?

It report profit to NNPC - which then reported profit to Nigeria gov. This is basic accounting. Oil companies in Algeria, Angola, name it report billions - and here you're shouting about millions. Yet you're selling Oil and Natural GAS. What hell is wrong with you.

obaaderemi:
NLNG is not owned by NNPC, I thought you were with your brain this early. Turns out I'm mistaken. NLNG is owned 49% by the Nigerian government, through NNPC. Shell, Total and Eni own The remaining 51%. The company is not run by NNPC. That's why it easily declares a profit every year. Last year alone Nigeria got a revenue of $400m from nnlg alone, which is more than the$300m your government got from its entire public investment, a figure you posted here yourself.

Move where? They dont have an expansion strategy that is well thought out. If they had they would be circiling DRC with 90 million people mostly unbanked and Ethiopia with 110M - mostly unbanked. HUGE potential for growth and profit - size of Nigeria. Then Somalias and such countries.....where banking doesnt exist. But they are likely to come to Nairobi, buy a small struggling bank and burn their capital there.

GeneralDae:

So Zenith and First Bank are not planning to move forward next year?

Mkenya2019:
Exactly. That is why you need a partner who knows what they are doing. Not NNPC with 45 years loss making history. I am sure they turned profit due to the current oil crisis worlwide. When Oil return to 50 dollars a barrel...they will be back to making huge losses.

They started making profit since 2019. In 2020, they made about 650 million dollars for the first time. Was there an Oil boom in 2020? In 2012 there was also an Oil boom but no profit was declared. How much of an oil boom did we have in 2021?
It's just an NNPC ongoing reformation, that's all.

rvp20182:
It report profit to NNPC - which then reported profit to Nigeria gov. This is basic accounting. Oil companies in Algeria, Angola, name it report billions - and here you're shouting about millions. Yet you're selling Oil and Natural GAS. What hell is wrong with you.

So what? Does NLNG not report billions? Where did NNPC get the money to acquire oando from? It's still bigger than anything Kenya owns. NLNG is still a profitable company, has always been, and it gives money to the government, more than your government earns from all it's investments. Something is wrong with little India.

End of discussion!

Nigeria Sovereign Investment Authority.

This company is the investment vehicle of the Nigerian government. It started with$1bn in 2011 by the Jonathan government, as at December 2021 it has $2.5 bn under management despite mismanagement and corruption. Only a few African countries have sovereign wealth management companies.

South Africa has PIC and Ghana has SSNIT.
What does Kenya have?
Kenya is nothing when it comes to public investment.

Mkenya2019:
Have you seen us burning your shops like Nigerians? We send your companies home minus their shirt without any violence; Just old pure business competion.

Kenya companies are largest investors in the region - how do we protect ourselves outside KENYA Companies that enjoy protection at home like Nigeria dont expand regionally.

Nah that's not the actual truth, protectionist market.

I don't have to state the obvious or spell everything to you, again east Africa region is not dominated by Kenya. If you think otherwise come with well researched proof

Look like Buhari has forced them to cook books - but cant cook money in the bank.

The Nigerian National Petroleum Company (NNPC) Limited has disclosed that it made N2.38 trillion revenue from oil sales, however the corporation didn’t remit any money to the Nigerian government’s account in six months.

According to the Federation Accounts Allocation Committee (FAAC) report published on Tuesday, NNPC Limited spent the N2.38 trillion on several projects such as repair of refineries, National Domestic Gas Development, Pipeline Security & Maintenance cost, cost recovery/cash call.

This left the NNPC Limited with zero naira to remit into the coffers of the Federal accounts, with oil search (Frontier Exploration Services), Gas Infrastructure Development, Pre-Export Financing, Nigeria Morocco Pipeline also gulping part of the revenue.

GeneralDae:

They started making profit since 2019. In 2020, they made about 650 million dollars for the first time. Was there an Oil boom in 2020? In 2012 there was also an Oil boom but no profit was declared. How much of an oil boom did we have in 2021?
It's just an NNPC ongoing reformation, that's all.

Lazy Azanian. Dont shift the burden of proof to me. The onus probandi is on you.

AfriqueDuZuid:


Nah that's not the actual truth, protectionist market.

I don't have to state the obvious or spell everything to you, again east Africa region is not dominated by Kenya. If you think otherwise come with well researched proof

When we get oil and natural gas windfall we will have one of those. They are set up to save the mineral or natural wealth for future generations. But like we have seen in Ghana and Nigeria - you gov can barely last a year without withdrawing from those funds - to meet recurrent needs.

obaaderemi:
Nigeria Sovereign Investment Authority.

This company is the investment vehicle of the Nigerian government. It started with$1bn in 2011 by the Jonathan government, as at December 2021 it has $2.5 bn under management despite mismanagement and corruption. Only a few African countries have sovereign wealth management companies.

South Africa has PIC and Ghana has SSNIT.
What does Kenya have?
Kenya is nothing when it comes to public investment.

rvp20182:
Move where? They dont have an expansion strategy that is well thought out. If they had they would be circiling DRC with 90 million people mostly unbanked and Ethiopia with 110M - mostly unbanked. HUGE potential for growth and profit - size of Nigeria. Then Somalias and such countries.....where banking doesnt exist. But they are likely to come to Nairobi, buy a small struggling bank and burn their capital there.

First bank of Nigeria had been in DRC before Kenyan banks even dreamt of going there. First Bank bought a bank there since 2014. You are learners compared to Nigeria in terms of banking.

Mkenya2019:
When we get oil and natural gas windfall we will have one of those. They are set up to save the mineral or natural wealth for future generations. But like we have seen in Ghana and Nigeria - you gov can barely last a year without withdrawing from those funds - to meet recurrent needs.

Stupid excuse as usual when cornered. Singapore, South Korea and Senegal have sovereign wealth funds. Which of them relies on oil and natural gas or gold?

Little India is poorly managed, Oga.

rvp20182:
2021 - KCB was no 20. This year it has overtaken Access and GT - and now just behind Zenith. Next year it will overtake Zenith. Then 2034 will become bigger than any Nigerian bank. Equity Bank - COOP - are following behind other 10 kenyan banks.

How can overtake zenith when it is still ten places behind zenith?

Mkenya2019:
Look like Buhari has forced them to cook books - but cant cook money in the bank.

The Nigerian National Petroleum Company (NNPC) Limited has disclosed that it made N2.38 trillion revenue from oil sales, however the corporation didn’t remit any money to the Nigerian government’s account in six months.

According to the Federation Accounts Allocation Committee (FAAC) report published on Tuesday, NNPC Limited spent the N2.38 trillion on several projects such as repair of refineries, National Domestic Gas Development, Pipeline Security & Maintenance cost, cost recovery/cash call.

This left the NNPC Limited with zero naira to remit into the coffers of the Federal accounts, with oil search (Frontier Exploration Services), Gas Infrastructure Development, Pre-Export Financing, Nigeria Morocco Pipeline also gulping part of the revenue.

Yah keep googling lol.
The PIA was signed in 2021. With the PIA and commercialisation of the NNPC under normal circumstances it shouldn't remit to the Nigerian Government but use the money to expand, work on projects and make more profits. 2.38 trillion naira is over 5.5 billion dollars at this time but NNPC is trying to become commercialised.
In June 2023, it would be listed on the Nigerian stock exchange.

AfriqueDuZuid:


I don't have to outline common knowledge

I think you should because you lack the cranial capacity to troll. Next time outline the knowledge and avoid the tomfoolery.

obaaderemi:
How can they make huge losses when they're Africa's biggest retailer as we speak? Why are you so bitter?

Isn't the zoo the biggest producer? There's no reason you shouldn't be the biggest retailer captain obvious.

GeneralDae2:

NNPC even at it's worst state was still well managed than Kenya.

I am going to assume this was an emotional outburst.

Mkenya2019:
Lazy Azanian. Dont shift the burden of proof to me. The onus probandi is on you.

Azania is a Greek word, got nothing to do with South Africa


don't make your problems my problem

You the one who's misinformed, I won't do the learning part for you

AfriqueDuZuid:


Nah that's not the actual truth, protectionist market.

I don't have to state the obvious or spell everything to you, again east Africa region is not dominated by Kenya. If you think otherwise come with well researched proof

You made the claim you should prove it. Don't expect handouts here.

gallivant:


You made the claim you should prove it. Don't expect handouts here.

handouts?

Go do your research before making unproved claims

gallivant:


I think you should because you lack the cranial capacity to troll. Next time outline the knowledge and avoid the tomfoolery.

I don't have to explain common knowledge

AfriqueDuZuid:
handouts?

Go do your research before making unproved claims

What claims? Are you okay?

AfriqueDuZuid:


I don't have to explain common knowledge

Awesome.

Keep word is trying. It not making any dividend to Nigerian like you. It's not even investing. It's spending the profit to repair old pipelines, refineries and such.

GeneralDae:

Yah keep googling lol.
The PIA was signed in 2021. With the PIA and commercialisation of the NNPC under normal circumstances it shouldn't remit to the Nigerian Government but use the money to expand, work on projects and make more profits. 2.38 trillion naira is over 5.5 billion dollars at this time but NNPC is trying to become commercialised.
In June 2023, it would be listed on the Nigerian stock exchange.

Kenya tea export to Ghana - look like this Africa free trade might work.

rvp2018:
Kenya tea export to Ghana - look like this Africa free trade might work.

Tea is good for health.

rvp2018:
Kenya tea export to Ghana - look like this Africa free trade might work.

I still reiterate my stance over acfta that not until there's a common currency and interconnected transport system..... Acfta might not work. Only some paltry goods here and there will be traded.

rvp20182:
NLNG is owned by NNPC (49%). Stop being a cartoon.

Kenya gov has shareholding in 16 listed companies and about 300 SOES that are not listed. Including in two fully state owned oil companies - National Oil and Kenya Pipeline. Kenya Oil pipeline always make gov more than 100M dollars in dividend or surplus every year...I doubt it has ever made a loss..how now? How does Nigeria oil sector turn a loss

Name any sector kenya gov has a play and most of it profitable .

For starters KQ - The flying coffin.

NNPC is better than that loss making deadbeat of a venture,not to forget it s also Africa’s biggest retailer, nothing in your zoo can hack that. Just gulp down that ice cold fact gm down your throat.