MAKANJUOLA Olumide Julius FCA, ACTI, MBA’s Post

Here are three things to know about investing in Africa today: 1) 🇳🇬 Dangote Oil Refinery Nigeria to list on the local stock exchange  2) 🇲🇿 International Funds Management Unit, Government of Mozambique approves ambitious $80bn energy transition plan  3)🌍 Saviu Ventures raises $13m to back francophone African startups #Saviuventures #Dangote #refinery #IPO #NGX #vc #venturecapital #africantech #mozambique #energy #commodities #africa #dabafinance https://lnkd.in/e5fZkg-U

International Oil companies Exit Nigeria The delayed divestments by international oil companies (IOCs) from Nigeria’s oil and gas sector is creating uncertainty among investors, a development that does not bode well for the country’s troubled oil sector. For more than a decade, oil majors operating in Nigeria have pursued divestment strategies, focusing on exiting the shallow water and onshore while maintaining interests in the deep waters and downstream sectors. The complexities surrounding abandonment, decommissioning and the surge in environmental issues, legal crises, labour conflicts, vandalism, capital and technical challenges for Nigerian companies are upsetting stakeholders. Tinubu visited India, Dubai and Saudi Arabia and Qatar, USA, China. No one trust Tinubu, Mele Kyari are a big fraudster and think everyone is fool and they can make false promises and later blackmail them to pay exorbitant fee.

Exciting times ahead as Dangote Refinery plans Dual Listing on both NGX and LSE Dual listing occurs when a company is simultaneously listed on two separate stock exchanges, typically in different countries, with its shares traded independently on both platforms. Benefits of Dual Listing Include: 1. Global Visibility 2. Global Diversification 3. Enable companies raise capital in foreign countries. e.t.c #investing #ngx #investment #stockmarket #capitalmarket

Africa Oil Corp. (TSX:AOI) announced that it has repurchased 488,075 shares from March 11, 2024, to March 15, 2024, under its previously announced share buyback program. The company said that during this period, it repurchased 178,700 shares on the TSX and alternative Canadian trading systems. The repurchases were carried out by Scotia Capital on behalf of #AfricaOil. During the same period, it repurchased 309,375 shares on the Nasdaq Stockholm, with these repurchases carried out by Pareto Securities on behalf of Africa Oil. All shares repurchased by the company under the program will be cancelled, it said. The company said that since December 6, 2023, up to and including March 15, 2024, 5,730,872 Africa Oil shares have been repurchased through the share repurchase program. More at #Proactive #ProactiveInvestors http://ow.ly/8v9g105mnJP #TSX #AOI

BREAKING: Dangote Refinery is planning to sell a 12.75% stake in the company following the Nigerian National Petroleum Corporation (NNPC)'s decision not to exercise its option to purchase that stake. This sale is crucial as the Dangote Group faces significant liquidity challenges, particularly with a large syndicated loan maturing on August 31, 2024. The proceeds from this divestment are intended to service this debt. Initially, NNPC had acquired a 7.25% stake in the refinery for $1 billion in 2021, with an option to increase its stake to 20% by purchasing an additional 12.75%. However, NNPC chose not to expand its investment, leaving the Dangote Group to seek new investors. This move comes amid concerns about the refinery's financial health, with Fitch Ratings warning that there is uncertainty about whether the sale will be completed in time to meet the debt obligations. The refinery, which is a significant part of Dangote's business portfolio, has also faced operational challenges, operating below its expected capacity and contributing less to the company's earnings than initially projected [[❞]](https://lnkd.in/eerr9-5U) [[❞]](https://lnkd.in/e45xStq6) [[❞]](https://lnkd.in/eEdrKRWh).

https://lnkd.in/dEyCnCzc Mr Avuru is right in rooting the decline of Nigerian production in the IOC’s decision to divest their assets in the Delta. Perhaps it is worth adding that the indigenous companies’s acquisitions were based on three assumptions: there were low hanging fruits left by the IOCs to be harvested, they would better manage theft and communities,  the infrastructure would not constrain the delivery of oil to the point of sale. Reality was different: the assets needed investments and technical expertise beyond what most of the indigenous companies could or were prepared to do and this contributed to the underinvestment suffered by #Nigeria. #NUPRC can help the country to make treasure of its experience.

The Nigerian oil industry is at a critical juncture, and the recent development involving the Nigerian National Petroleum Corporation (NNPC) and the Dangote Refinery has sparked significant debate. As Dangote’s $20 billion refinery, the largest in Africa, rolls out its petrol to the Nigerian market, the NNPC’s interest in becoming its sole buyer raises concerns. While this partnership may seem like a strategic move on the surface, it carries potential risks that could undermine the principles of a free market, competition, and economic diversification. Here’s why the NNPC should not be the sole buyer of Dangote petrol. https://lnkd.in/d79czgX3

NIGERIA - CAPITAL MARKETS - The President of Dangote Group, Aliko Dangote, has revealed plans to list the $20 billion Dangote Petroleum Refinery on the Nigerian Exchange (NGX), as the refinery prepares to start operations in December with a production volume of 350,000 barrels per day. In an interview on CNBC Africa, Oyeyemi Oke, Partner at AO2 Law, discussed the potential impact of this listing on the Nigerian Stock Exchange and the oil and gas industry. Oyeyemi expressed optimism about the listing, citing the recent increase in activities on the Nigerian Stock Exchange. He stated, “In the last one year, we’ve seen some significant listings by financial services companies and the Nigerian Infrastructure Debt Fund. The proposed listing of Dangote Refinery Limited on the Nigerian Stock Exchange is good for opening up investment opportunities and improving market capitalization.” As the Nigerian oil and gas industry experiences these developments, investors and stakeholders are eagerly awaiting the listing of the Dangote Petroleum Refinery on the Nigerian Exchange. It is hoped that this listing will attract investment and contribute to the growth and stability of the Nigerian Stock Exchange.

*** Aramco and ADNOC among suitors for Shell’s downstream business in South Africa *** • Saudi Aramco, Abu Dhabi National Oil Company (ADNOC) and commodities trader Trafigura are among the entities vying to acquire Shell’s service stations in South Africa • The sale, which could fetch close to $1bn, includes a network of 600 service stations and is part of Shell’s downstream unit in the country • The assets have also garnered interest from South Africa’s Central Energy Fund, which owns PetroSA, as well as Sasol and Oman’s OQ Trading, the sources said • A decision on the winning bid is expected by the end of the year, although it may extend into 2025 #Shell #Sasol #Aramco #ADNOC #downstream