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HOW WALE TINUBU KEPT OANDO IN WINNING WAYS

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The axiom that; ‘experience is the best teacher’; describes Oil mogul
and shrewd businessman, Adewale Jubril Tinubu, with the sobriquet JAT. The GCEO of Oando Plc, had always proved his vast experience in business with uncommon brilliance and wizardy. So, when he promised OANDO shareholders at
the beginning of 2018 that; he would move the leading Oil and Gas company to an an enviable height, many did not doubt his competence. He had always delievered far above expectation. Today, he has not only fulfilled his promise, he had lifted
Oando far above its competitors.

The continued increase in oil
prices and sales volumes, Nigeria’s exemption from the production cut by
the Organization of Petroleum Exporting Countries (OPEC), capital
discipline and reduced disruptions on production activities in the Niger
Delta are contributing factors to the improved cash flows and
impressive results posted by Oil and Gas companies operating in Nigeria
in the third quarter of 2018.

Underlining how far both majors and
indigenous companies have come since oil prices plummeted in 2014,
Oando PLC recently posted its nine months ended September 2018 results,
with a profit of N10.4 billion, a 46% increase, compared with N7.1
billion in the same period of 2017 and a 70% reduction in debt. In 2014,
the company took out debt to the tune of $900 million towards the $1.6
billion landmark acquisition of ConocoPhillips Nigeria assets; today the
company has achieved a commendable 70% reduction in this debt to
approximately $270 million. These numbers further reinforce the success
of Oando’s ongoing initiatives to create value for stakeholders, and
drive sustainable growth as well as its potential to access new funding
for new projects.

The company had since recovered from the
effects of the oil price crash, with this being its second year of
consecutive profits and its 3rd profit in 2018. Seplat’s
profit-after-tax (PAT) stood at $91 million compared with $5 million in
2017; Total’s adjusted net income increased by 48% to $4 billion
compared to same period in 2017 and was 11% higher than in Q1 2014 when
oil prices were over US$100/bbl; while Eni made a net profit of 1.53
million euors in the third quarter of 2018.

Oando’s 46% jump in
year-on-year quarterly net profits beat market expectations. Despite
being in the middle of an indirect shareholder dispute which has led to a
yet-to-be concluded SEC forensic audit, the company recorded a 32%
increase in its turnover to N505.1 billion from N383.5 billion in
comparative period of 2017, driven by higher commodity prices; while its
gross profit grew by 9% to N77.6 billion from N71.2 billion in 2017.

Speaking
on the company’s financials, Adewale Tinubu said; “Today’s positive
result is further evidence of the progress made by Oando in 2018 driven
by our continued focus on execution and operational efficiency,
supported by buoyant commodity prices.”

Thanks to good
operational efficiency, these results confirm Oando’s ability to take
full advantage of the improved macro environment to deliver on key
corporate imperatives of increased revenues and profit to create value
for her shareholders. As the year draws closer to an end, the management
of Oando must be applauded for their dedication to keeping the company
on course by delivering yet another consecutive quarter of strong
financial performance.

In the exploration and production sector,
Oando’s upstream subsidiary, Oando Energy Resources made a stellar
performance as it benefited from the ramp-up of higher margin production
resulting in a 45% increase in realized crude selling price compared
with the same period in 2017. According to the company’s press
statement, performance was further buoyed by sale price increases of 6%
for Natural Gas Liquids and 31% for natural gas deliveries. In
the downstream, Oando traded over 10 million barrels of crude oil and
ensured petroleum products efficiency through the importation of
445,483MT of refined products.

Commenting further, Oando’s Group
Chief Executive said that; “The outlook for the remainder of the year is
positive and we remain committed to delivering on our value-based
strategy towards improving our liquidity by reducing our gearing,
improving our profitability by increasing production, and achieving
growth via strategic alliances.”

Oando’s continued positive
results and corporate initiatives reinforce the company’s focus on
redefining the role of independent players as vital in supporting the
socio-economic growth of the nation. In 2018, the company has been
particularly active in showcasing to its stakeholders the output from
its day to day operations as well as the positive impact it is having in
the communities it operates in.

In the third quarter of this
year the company in partnership with its Joint Venture partners
commissioned a 20,000 gallon water scheme for the over 5,000 residents
of Agbere Community, Bayelsa State, in the process reducing the number
of Nigerians without access to clean portable water. In the same vein in
the Aggah community in Rivers State the company commissioned asphalt
road and drainage projects, alongside their JV partners, NNPC &
NAOC. Other community projects commissioned include roads and drainage
in Irri Community, Isoko South Local Government Area of Delta State and
in the Oguta Community, Imo State.

More recently in line with the
company’s commitment to Nigerian Content Development, they ran in
collaboration with their JV partners, NAOC and NNPC a series of content
development workshops in Yenagoa, Bayelsa State. These workshops,
carried out in partnership with the Nigerian Content Development
Monitoring Board (NCDMB), focused on compliance best practices,
procurement regulations and business financing strategies to help
improve the quality of output from local contractors as well as the
promotion and development of in-country capacities for the
industrialization of Nigeria.

Speaking on the future outlook for
the company, Wale Tinubu explained that the company would build on this
performance in the coming quarter as well as step up organic and
inorganic development activities across its existing portfolio.

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Elated Polaris Bank Customer commends Bank for excellent customer service

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Polaris BAnk

Polaris Bank customer, Ife Michael, who recently aired her concerns on X (formerly Twitter) on a school fees transaction, has commended the Bank for resolving her Complaint swiftly as promised.

 

Ife Michael tweeting via her X handle @V_Ifemichael had called out the Bank for ‘seizing’ her funds as sent from a UK University where she had sought admission.

Polaris Bank reacted promptly to her Complaint and engaged her to explain the process and promised to resolve the issue which the Bank did swiftly.

An apparently elated Ife Michael went back to the micro blogging site to recount her experience with an update on her earlier thread of how the Bank swiftly resolved her Complainant.

The Bank, according to her update “responded and reached out to explain in details the guidelines underpinning FX transaction as it relates in particular to International payment.

In her tweet, Ife Michael expressed gratitude to Polaris Bank’s swift action and transparent communication. According to her, the Bank clarified that the situation was complex but assured her that the funds would be promptly refunded to the school. And Polaris Bank did exactly as it promised as it promptly refunded the money to Roehampton University and initiated necessary processes to streamline the refund.

The engagement began when Polaris Bank’s headquarters made the first contact at 11:48 am, and by 3:41 pm on the same day, Ife Michael confirmed that the Bank had successfully refunded the funds and

fulfilled all required procedures. The Bank also took the extra step of writing to the school to facilitate the process.

This positive outcome highlights Polaris Bank’s commitment to customer satisfaction, responsive and excellent customer service, and adherence to regulatory policies. The incident not only showcases effective conflict resolution but also underscores the power of a Bank fostering transparent communication between it and her customers.

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Cristiano Ronaldo wants to leave Manchester United

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Cristiano Ronaldo and his agent Jorge Mendes held meetings with United at Carrington on Tuesday, but his position remains unchanged and he wants to play for a club in the Champions League and win major trophies. United do not want him to go, however, and Ronaldo has started training with the team having missed the club’s pre-season tour of Thailand and Australia due to family reasons.

His potential options elsewhere are limited. Chelsea are not an option anymore, while Bayern Munich and Atletico Madrid appeared to publicly rule themselves out this week. “As we’ve seen on Instagram, Ronaldo has been keeping fit, so there are no concerns from Manchester United over his fitness or physical level; he’s one of the fittest players in world football.

“Ultimately, The Portuguese forward did state his desire to leave Old Trafford, but he’s running out of options, and it seems like he’s actually going to have to stay. Perhaps he will try and swing it where the 25 per cent pay cut in his contract will be waived away by United, perhaps he wants to manoeuvre and muscle a new deal, we’ll have to wait and see. But it doesn’t look like Stamford Bridge is on his cards.

“Chelsea have distanced themselves from a deal for Ronaldo, as have Bayern Munich, Napoli and a lot of other elite clubs that Jorge Mendes, who is Ronaldo’s agent, has tried to sell him to. “An offer from Saudi Arabia is astronomical but ultimately, it does not give Cristiano Ronaldo what he wants, which is that legacy. He wants to achieve Champions League records that he thinks no one else will be able to attain in the future.

“He wants to sign off at the absolute highest level. Now, it looks increasingly like he will have to stay at Manchester United because there are no biters from the big clubs.

“Everyone has their forwards already, and Chelsea, who are the only club looking like they could actually potentially be spun by what Cristiano Ronaldo offers off the pitch because we were told that Mendes, while being in front of these clubs, was putting forward his numbers in terms of social media influence, sponsorship that he rakes in, the commercial gain of his shirt sales and stuff like that. But even they now say he is not in their plans. Their immediate aim is to strengthen the defence.

“So, that leaves Ronaldo really with not many choices. We know that he does want to be competing at the highest level so if he does go to Saudi Arabia that cuts against everything he has said and everything we actually know about him and his career.

“Manchester United have always been very calm and very comfortable. They have insisted he is not for sale, and he will see out the last year of his contract. How they manoeuvre this now going forward we’ll see, but Ronaldo is keeping fit, so they have no issues or problems or fears over what state he’ll report back to pre-season in.”

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CONVOCATION: GRACE NATION BIBLE INSTITUTE GRADUATES 120 STUDENTS

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-you must remain a good Ambassador of Christ- Chris Okafor

No fewer than 120 certified Trained Prophetic students of Grace Nation Bible Institute graduated today after they have gone through rigorous prophetic training by the best Teachers Supervised by the anointed servant of God Dr. Chris Okafor. The student was presented with their certificates at the special convocation ceremony held at the International Headquarters of Grace Nation(GBI) in Ojodu Berger Lagos Nigeria. According to the Rector of the institute, they satisfy all requirements and conditions to be awarded a diploma certificate in various fields of Prophetic and Bibles knowledge.

In his words of Encouragement, the President of Grace Nation Bible Institute, Dr. Chris Okafor remarks that he has no doubt in his mind that all the students are well-trained judging by the level and capacity of all the resource Personality who lecture them, train and retraining them to face any challenges that come there ways,
The Apostle of altars also challenged them to be a good ambassador of the school to the outside world through soul-winning to the kingdom of God.

The Generational Prophet of God also remarked that as you have all learned, you must put the name of a school in good repute and always ready to work for the Lord at any time

Some of the course covered in the 8weeks program includes Evangelism and soul-winning, spiritual development and Human Management to mention but few

The highlight of the convocation was the Presentation of Certificates to all the students, according to the Rector all the students perform excellently well

Earlier in his sermon, the Senior Pastor Grace Nation and the Generational prophet of God Dr. Chris Okafor teach on the series, ”The Covenant Day of Settlement” said settlement comes when you fulfill all the Principles of Settlement,
the man of God said nothing come free but when you applied the principles and follow it diligently you will easily get a settlement on all side

The realm of the Prophetic witnessed another higher dimension of Prophetic movement and deliverance through the Set Man, the Generational Prophet of God Dr. Chris Okafor, He visited many family altars and set many captives free, he also delivered people with blood-line diseases while delivering miracle babies to expectant mothers

The service came to a close with a special Prayer for the Set Man, the Generational Prophet of God Dr. Chris Okafor who will be making another birthday tomorrow, 4 April 2022.

 

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