Fitch Downgrade Of Dangote A Reflection Of Nigeria’s Business Environment
Fitch Downgrade Of Dangote A Reflection Of Nigeria’s Business Environment
Arise Business Correspondent Rotus Oddiri discussed the downgrade of Dangote Industries Ltd by Fitch Ratings and the Q2 Earnings of Saudi Arabia’s Oil Company Aramco
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Why do you worry about what Fitch has to say? Open space for Dangote to produce oil and fertilizers and supply to Africa at reasonable prices.
You really can’t turn off the studio microphones while this guy gives his report??? You have people sniffing riding and moving around in the studio. It’s not a problem. But the problem is, we can hear them.!!!
Nonsense with Fitch.they want to kill the spirit of the hero.we in Ghana back dangote to collapse all refineries in Europe.
Rufai should go act a movie. He knows all the problems, doesn't appreciate all the solutions been put in place. Yet he drove on the BRT lane. I wish he was jailed for good example to others. He is playing to the galary and has long departed from journalism. Rubbish guy.
Exactly the wish of the government that the refinery fails. Shameful.
Dr Abati is always looking sharp. Nice one.
You are my brotherhood, if you come to my hood you go turn firewood.
Brilliant analysis Arise TV crew. Keep it up Arise
Show us the NNPCL Q2 results
Dr won't let Rotus and Rufai breathe until they get married 😂.
Always Fighting for dangota …. some body
That steals our collective money….try and rest please
You analysts are too stupid, when things are bad, you are going to rely on the dollar which is paper and can be burned, and the government which owns the paper is 35 trillion in debt, they moral standing is so low, and you still want to trust in that country and their religion shame.
When Tinubu is defacto petroleum minister, expect nothing from NNPC except corruption and rent-seeking in Malta.
Brotherhood no dey do love love things. Rufai and Rotus take care 😒
Every administration of Nigeria has ruined the country. Nigeria will never recover if the situations continue. It will take another 50 years to get Nigeria on tracks.
Safe Haven,Real Estate,British pound sterling,United States Dollars.
Saudi Arabia's national oil company, Saudi Aramco, is thriving, with massive profits and a strong track record of success. In contrast, Nigeria's national oil company, NNPC, is struggling to survive and seeking loans. A comparison between the two companies highlights the stark differences:
Saudi Aramco:
– World's largest oil producer and exporter
– Net income: $88.2 billion (2020)
– Reserves: 268.4 billion barrels of oil and 302.3 trillion cubic feet of natural gas
– Production capacity: 12.4 million barrels per day
– Diversified operations: exploration, production, refining, petrochemicals, and marketing
NNPC:
– Africa's largest oil producer
– Net income: -$1.7 billion (2020)
– Reserves: 37.2 billion barrels of oil and 187.4 trillion cubic feet of natural gas
– Production capacity: 1.9 million barrels per day
– Challenges: corruption, mismanagement, and underinvestment
The key differences between the two companies are:
– Financial performance: Saudi Aramco is highly profitable, while NNPC has struggled with losses.
– Reserves and production: Saudi Aramco has significantly larger reserves and production capacity.
– Diversification: Saudi Aramco has a broader range of operations, including refining and petrochemicals.
– Governance: Saudi Aramco is widely seen as a well-managed and transparent company, while NNPC has faced criticism for corruption and mismanagement.
Nigeria's problems are numerous, but the most egregious is self-inflicted. A notable example is the sabotage of a Nigerian individual's efforts to build an ultramodern refinery to end petroleum product importation. Government officers prioritized foreign interests over national progress, a clear case of treason. Those responsible should be held accountable and tried for their betrayal.
May God save Nigeria from its wicked leaders.
Great show
Dr Abati leave single men alone please 😂😂😂
The esteemed Doctor was getting all his figures mixed up today! 🙂
Kele Mele must go
Fitch is a tool of European competitors to destroy Dangote . We know better and definitely well informed .
Thank you trying to shore up the falling dollar
Dangote Refinery is the Only way Nigeria will move forward towards sustainability
Not sirprise the west will always downgrade their comoetition
When feedstock supply is not guaranteed, it poses serious risk to objectives.
I have been thinking: was this risk not captured ab nitio before the project was even started? How did the financiers not see this key risk? Was a mere verbal assurance from the government sufficient to discount such risk, considering the unpredictability associated with the statements and policies of governments in Africa. This unpredictability is even aggravated when power changes hands. If promoters of a business are not in the good books of succeeding government(s), their stakes in businesses could be torpedoed.
It is sad that the Nigerian government is bent on destroying its own. So sad.
Rufai on board as usual Nigeria will only be great when we respect and believe in ourselves
nigeria will be great again