OakPearl:


What is happening between the Dangote Group and NNPC is a case of incompetence meeting head on with competence and precision. Accountability and business integrity meeting with a system where deceit and lies form a core ingredient of existence.
Any one swapping jobs from Shell to the Nigerian civil service will easily develop migraine and BP due to the huge golf in standards and procedures.
The sudden grey hair on Alhaji says it all.
If that is his sacrifice for this country, may Nigeria be liberated finally.

mikeapollo:


Dangote Refinery is truly a ''game changer'' for good reason. It creates jobs, saves/reduces dollar demand etc.

However, Dangote is being blackmailed by a mischievous and disingenuous NNPC, which as mischievously released the cost of PMS from the refinery to pre-empt and pitch the people against the refinery.
Dangote bought its current stock of crude in dollars, and that is what he can sell to NNPC until October 1, when he receives crude in naira from NNPC
NNPC's has not yet sold its crude in naira to Dangote (until Oct 1), so why is the NNPC rushing to tell us the cost makeup of PMS from the refinery's stock of crude which was bought in dollars? NNPC deliberately did that so that the citizens would complain that the cost (N898) is too high and provide an excuse for NNPC to justify importing from abroad.
If the NNPC was transparent and accountable, they should have given us the cost make up of their imported PMS long before now, so we can compare with the cost of PMS refined by Dangote from their dollar-based imported crude.

The key thing to focus on is this:
The NNPC should tell us the naira cost/price at which they will be supplying crude to Dangote, from October 1.
Then we can also get the cost/price of refined PMS from Dangote from October 1.
If the cost of crude from NNPC is competitive/cheap, the refined product from Dangote will also be competitive/cheap.
The NNPC should stop playing on the intelligence of Nigerians.

IYGEAL:


Exactly what Oga Agba pointed out and I seconded.

I like how the company comes up to swiftly refute any and all publications it deems untoward. It's possible the publishers must have tried to persuade the company to agree with them and it (the company) refuses. A smaller player would have easily been rough-handled.

Indeed, may the liberation finally arrive.

Tpharell:

Good and objective take.
Take note also that the decommissioning provision is a new regulatory requirement of the PIA which the NUPRC is enforcing in the divestments. I know for a fact it is one of the things holding back the Mobil/ Seplat deal as the fund had not initially being factored in the deal. The divesting assets are old and some are close to their design end life, upon which they need to be decommissioned. The PIA framers thought it wise to make provision for a dedicated fund for that activity

Tpharell:

Even that “reduce dollar demand” is yet another delusion, as what I see is that the demand and supply will cancel out when you factor in the FX loss due to selling crude in naira.

It is certainly not uhuru yet even with Dangote refining locally, as there will still be petrol scarcity every now and then, like when Lokoja gets flooded due to the terrible state of infrastructure in Nigeria.

Dangote refinery will create jobs and produce raw materials for petrochemical industry, but will certainly not cure our FX challenges, end importation entirely or “crash” petrol prices.

For now, let’s enjoy the sentimental value of “refining our crude ourselves locally”

Tpharell:

Even that “reduce dollar demand” is yet another delusion, as what I see is that the demand and supply will cancel out when you factor in the FX loss due to selling crude in naira.

It is certainly not uhuru yet even with Dangote refining locally, as there will still be petrol scarcity every now and then, like when Lokoja gets flooded due to the terrible state of infrastructure in Nigeria.

Dangote refinery will create jobs and produce raw materials for petrochemical industry, but will certainly not cure our FX challenges, end importation entirely or “crash” petrol prices.

For now, let’s enjoy the sentimental value of “refining our crude ourselves locally”

Tpharell:

Good and objective take.
Take note also that the decommissioning provision is a new regulatory requirement of the PIA which the NUPRC is enforcing in the divestments. I know for a fact it is one of the things holding back the Mobil/ Seplat deal as the fund had not initially being factored in the deal. The divesting assets are old and some are close to their design end life, upon which they need to be decommissioned. The PIA framers thought it wise to make provision for a dedicated fund for that activity

mikeapollo:

No one is saying that the refinery will CURE our FX challenges. But it will contribute its own quota in reducing the pressure on the naira. It is a kind of import substitution.

Even if there is some net off between the demand and supply of dollars due to crude oil sale in naira, the demand side has a higher impact on the volatility and fluctuation of currency, because refined products like PMS (which were being imported and demanded for dollars) command much higher value than the crude oil.

Ginalex:
The movements in Nascon and Dangsugar is lovely to see. Nascon already on full bid

mikeapollo:


Thank you for the education.
Please, kindly help us educate those people who are saying that the Mobil-Seplat deal was deliberately frustrated by the govt in order to favour another company. Unfortunately, that line of thought was also shared by an opposition politician (reason why I say that every politician, from both govt and opposition, must be scrutinized properly when they make comments)

Ginalex:
The movements in Nascon and Dangsugar is lovely to see. Nascon already on full bid

megawealth01:


At least it a step in the right direction if wholeheartedly supported by government institutions

KarlTom:

Tpharell:

You mean the same weak and ineffectual agencies waiting for body language (odor) to act? Lost cause!

Ginalex:
make the move just continue abeggggg... I don tire

Sunrisepebble:
34K Units traded @9,791 for Aradel already this morning. 20k in one bid. Still a strong buy for investors apparently

Panadee:


Thanks for your previous alert on FMN, which made some of us do more DD as we could have sold off earlier.
I will wait for Aradel in NGX because I don't plan to trade OTC on NASD.
As 'Oliver Twist', I still await that penny stock pick you talked about last week
My eye dey 'chuke'

BabsO2:


Oando booked a higher provision for decommissioning activities of N176b compared to SEPLAT's N117b in 2023. Even though they both reported having N3T worth of assets in 2023

megawealth01:


I wouldn't want anyone to insult you because of the government. They probably have their agents here

megawealth01:


I for call the name but I won't. I don already start to load the thing but won't ever call the name so una no go call me "MH"

Tpharell:

Do I sound like am not ready for them?
Let them bring it on, I have all day!

Tpharell:

The decommissioning assessment which is done by NUPRC is based on the age and value of the assets. I don’t know enough about the age and valuation of the assets of both companies to comment on that. What I do know is that Oando’s provisions for decommissioning & abandonment for FY2024 will increase to reflect that of the AGIP assets they just acquired.

Ginalex:
make the move just continue abeggggg... I don tire

yMcy56:
FBNH
Full bid @31.90.....
Is the Elephant coming with special news or what?

OANDO
Bids currently more than offers..,.
I hope NSEMPAs will just allow this stock breathe and give it a break on this everyday bad belle/forth and back!
It's not the only stock in NGX, you can focus on Aradel or refinery for now.......😊

megawealth01:
There's one that always come online he will soon be online

yMcy56:
FBNH
Full bid @31.90.....
Is the Elephant coming with special news or what?

OANDO
Bids currently more than offers..,.
I hope NSEMPAs will just allow this stock breathe and give it a break on this everyday bad belle/forth and back!
It's not the only stock in NGX, you can focus on Aradel or refinery for now.......😊