ISpiksDaTroof:
We record births where I'm from. I bet nobody in your lineage ever had a birth certificate or even knows what one looks like.

Shame on you!

https://www.youtube.com/watch?v=uxFZ8J8W34w

[size=15pt]This is not a short term drop in oil price -
Bismarck Rewane on Straight Talk with Kadaria 35a[/size]

"Straight Talk with Kadaria" with special guest and financial consultant Mr Bismarck Rewane speaking about the rapid drop in oil prices globally and its implications for the Nigerian economy and the average Nigerian.

[quote
author=Aigbofa post=28710369]Even if you kidnap a foreign oil worker
now, the employer will not pay you a dime. They will tell you to keep
him. [/quote]

no wonder nobody is asking of this white man since 3wks,he don finisi our half bag of rice

Is it possible to drink crude oil?

The interviewer Kadaria Ahmed looks scared by what she is being told.

Horus:

https://www.youtube.com/watch?v=uxFZ8J8W34w

[size=15pt]This is not a short term drop in oil price -
Bismarck Rewane on Straight Talk with Kadaria 35a[/size]

"Straight Talk with Kadaria" with special guest and financial consultant Mr Bismarck Rewane speaking about the rapid drop in oil prices globally and its implications for the Nigerian economy and the average Nigerian.

Anyone can type up that rubbish. That doesn't even look real. Looks like something someone worked up using a 19th century typewriter.

Besides, that doesn't belong to you, you grabbed it off the internet. Dont you tire of being a crook?

madamoringo:
Our oyel ooooooooo...our oyel oooooooo!

It is in the South .... (count 4 dots and fill in 1 character per dot!). Hahaha...now Naija will still not divide, to the disappointment of the South ....!

Hehehehe....all the government decisions in the past 6 years have been a complete failure and it was led by elements from the SE and SS! But they have run the country into the ground, completely! Too bad! Well, it is time for everyone to go and grow cassava and farm fish in their state now! We don't want leeches crossing into other's lands, let them stay in their land develop it!

100likes for you

Well Nigeria should focus on local refining of petrol and all bye-products of crude for export purposes.

While the price of crude may drop or the demand for crude may drop I doubt the demand for Petrol may ever drop. The price of petrol is also only increasing all the time.

If we refine petrol more than our consumption requires we can sell petrol to the African market and will not have to rely on America.

The export of crude is very very lazy. Let's think outside the box.

Let's reform NNPC to compete with the likes of BP, Petrobas or Gazprom!

braine:
Lol. But why can't we refine and use our thing locally, and dropping the price of PMS to something below N40 + reducing price of other petroleum products to enhance the local economic productivity? Or is there something off-key with this idea?

When the forward-looking Jonathan/Sambo administration proposed subsidy removal almost three years ago, did we not cluelessly follow the dubious characters in the "opposition" to reject the sound economic initiative

A move for DEREGULATION that would have meant enhanced local refinery capacity that would INITIALLY result in increased fuel pump prices but reduction over time accelerated by this type of crude oil price drop. The federal government would have STOPPED paying subsidies and instead be receiving licencing fees & taxes to be SHARED as usual with the 36 states and 774 LGAs!

The question is why are we so clueless by focusing on short term POPULARITY gains and neglecting the SACRIFICE needed to pursue long term POLICY gains

anonimi:


When the forward-looking Jonathan/Sambo administration proposed subsidy removal almost three years ago, did we not cluelessly follow the dubious characters in the "opposition" to reject the sound economic initiative

A move for DEREGULATION that would have meant enhanced local refinery capacity that would INITIALLY result in increased fuel pump prices but reduction over time accelerated by this type of crude oil price drop. The federal government would have STOPPED paying subsidies and instead be receiving licencing fees & taxes to be SHARED as usual with the 36 states and 774 LGAs!

The question is why are we so clueless by focusing on short term POPULARITY gains and neglecting the SACRIFICE needed to pursue long term POLICY gains

Is it impossible to invest on boosting local refining while still subsidising pump price?

GenBuhari:
Yet a servant leader awaits your instruction to allow him to sort out this mess.

I finally see something to agree with you- General Muhammadu Buhari is so bereft of ideas (as demonstrated in his image laundering Channels TV interview) that he has to wait on our instructions to know what he needs to do.
Such an epitome of DAFTNESS.

Anyway sha nor be today the man start to dey wait for instructions, even when with his supposed peers






I guess only those who are MORE clueless than the old soldier is, are the ones clamouring for his return to power so he can beat their "senseless & useless" brains into discipline

mikeansy:


Is it impossible to invest on boosting local refining while still subsidising pump price?

Government has no business DOING business.

Its role should be to facilitate and regulate the private sector participants to ensure the consumers/citizens are not taken undue advantage of while ensuring prompt receipt of taxes and excise duties etc due from the investors.
Do you know of any developed or seriously developing country whose companies/industries are OWNED/RUN by the government

I hope I have responded adequately to your post.

anonimi:


When the forward-looking Jonathan/Sambo administration proposed subsidy removal almost three years ago, did we not cluelessly follow the dubious characters in the "opposition" to reject the sound economic initiative

A move for DEREGULATION that would have meant enhanced local refinery capacity that would INITIALLY result in increased fuel pump prices but reduction over time accelerated by this type of crude oil price drop. The federal government would have STOPPED paying subsidies and instead be receiving licencing fees & taxes to be SHARED as usual with the 36 states and 774 LGAs!

The question is why are we so clueless by focusing on short term POPULARITY gains and neglecting the SACRIFICE needed to pursue long term POLICY gains

And I guess Sure-P has been a resounding success.

chemali:


And I guess Sure-P has been a resounding success.

Is it safe to assume that you agree it is a success BUT do not think the success is big enough to be qualified by you as resounding?
Did I get that right

No wonder GMB wept in 2011, so Nigeria is heading back to the era of SAP, daris godu o.

Well Good to know let the suffering start and we would sit up.

Can't the oil get dry completely? I think the oil brought more curse to the country than any good.

Which govt do you expect to do this?

The current govt? ?

mikeansy:
Well Nigeria should focus on local refining of petrol and all bye-products of crude for export purposes.

While the price of crude may drop or the demand for crude may drop I doubt the demand for Petrol may ever drop. The price of petrol is also only increasing all the time.

If we refine petrol more than our consumption requires we can sell petrol to the African market and will not have to rely on America.

The export of crude is very very lazy. Let's think outside the box.

Let's reform NNPC to compete with the likes of BP, Petrobas or Gazprom!

anonimi:


Government has no business DOING business.

Its role should be to facilitate and regulate the private sector participants to ensure the consumers/citizens are not taken undue advantage of while ensuring prompt receipt of taxes and excise duties etc due from the investors.
Do you know of any developed or seriously developing country whose companies/industries are OWNED/RUN by the government

I hope I have responded adequately to your post.

Oil in Nigeria is not mere business. It is central to our National Security.

What we do with crude oil is the business of Government.

anonimi:


Government has no business DOING business.

Its role should be to facilitate and regulate the private sector participants to ensure the consumers/citizens are not taken undue advantage of while ensuring prompt receipt of taxes and excise duties etc due from the investors.
Do you know of any developed or seriously developing country whose companies/industries are OWNED/RUN by the government

I hope I have responded adequately to your post.

Norway -> Statoil 67% owned by the government.
Brazil -> Petrobras 64% owned by the government
China -> Economy is dominated by state run enterprises
South Korea -> Kepco 51% owned by the government
France -> EDF 80% owned by the government.

Its a big lie that government shouldn't do business.

The largest 13 oil companies in the world, are state owned.

mikeansy:


Oil in Nigeria is not mere business. It is central to our National Security.

What we do with crude oil is the business of Government.

You were not talking about what we do with crude oil simply, were you
I thought you were talking about refining locally vis-a-vis the pump price as per your initial posted below?

mikeansy:

Is it impossible to invest on boosting local refining while still subsidising pump price?

AZeD1:

Norway -> Statoil 67% owned by the government.
Brazil -> Petrobras 64% owned by the government
China -> Economy is dominated by state run enterprises
South Korea -> Kepco 51% owned by the government
France -> EDF 80% owned by the government.

Its a big lie that government shouldn't do business.

The largest 13 oil companies in the world, are state owned.

Please tell us the role played by government in all the companies you listed? What business is government doing in all these companies?

AZeD1:

Norway -> Statoil 67% owned by the government.
Brazil -> Petrobras 64% owned by the government
China -> Economy is dominated by state run enterprises
South Korea -> Kepco 51% owned by the government
France -> EDF 80% owned by the government.

Its a big lie that government shouldn't do business.

The largest 13 oil companies in the world, are state owned.

Thanks for pointing out my over-generalisation with examples of businesses that still remain in the hands of government in the listed countries.
However, you will note that these enterprises have state investments just enough to have effective control while allowing profit-driven private investors to do the day-to-day operations for greater efficiency based on meritocracy.

Moreover you may wish to take note of this news item:

France May Sell Parts of State-Backed Companies
April 5, 2013

The French government is considering selling portions of state-backed companies to help improve its finances, as the crisis in the euro zone's second-largest economy deepens, according to government officials.

The socialist government of President François Hollande, which has already said it can't meet budget-deficit targets it promised its European peers last year, is exploring how it could sell off slices of companies without sacrificing the measure of control that government ownership helps it retain.

"As part of the budget restructuring, and the modernization of our public policy, we are indeed thinking about changing our ownership stakes," France's industry minister Arnaud Montebourg said in an interview.

"We're not ruling out that kind of move, but we do not want to lose our means of influence over companies," Mr. Montebourg said.

Any stake sales would come as the government struggles to rein in a fast-increasing debt load with an economy that has been stagnating for over a year. Mr. Hollande has raised taxes and pledged to cut spending, but still has little room for maneuver as he seeks to balance the country's budget by 2017.

The French state directly and indirectly owns controlling stakes in stakes in several companies, such as nuclear-engineering group Areva SA, and has significant minority shares of companies including France Telecom SA, airline Air France-KLM and car maker Renault SA .

Mr. Montebourg declined to say which companies might come up for sale, but another government official said that selling some of the country's 85% stake in energy behemoth Electricité de France SA would be "the obvious choice."

France's national debt grew 6.8% to €1.83 trillion ($2.37 trillion) in 2012, or more than 90% of the country's GDP. In the 2013 budget, the government forecasts that it will spend around €48.8 billion servicing its debt.

EDF's shares have gained around 12% since the start of the year, and France can lower its stake to 70% under existing law. Reducing its stake down to 70% would garner about €4.3 billion based on EDF's current share price.

More from: http://www.wsj.com/articles/SB10001424127887323646604578404260912499092

I believe Britain did similar privatisation starting in the 80s under Margaret Thatcher.

anonimi:


You were not talking about what we do with crude oil simply, were you
I thought you were talking about refining locally vis-a-vis the pump price as per your initial posted below?

The drive to build local refining capacity in an industrial scale to offset the shortfall in crude sales needs government support.

If after kicking this off and making sure it is succeeding Government decide to privatise it then thats fine. But for now it will not be bad to model NNPC on similar State Owned companies as GAZPROM and PETROBAS.

I think BP used to be state owned until it became Private.

anonimi:


Thanks for pointing out my over-generalisation with examples of businesses that still remain in the hands of government in the listed countries.
However, you will note that these enterprises have state investments just enough to have effective control while allowing profit-driven private investors to do the day-to-day operations for greater efficiency based on meritocracy.

Moreover you may wish to take note of this news item:



I believe Britain did similar privatisation starting in the 80s under Margaret Thatcher.

Britain along with other western nations privatized most of the states owned companies. I have no problem with that. I only brought it because Nigerians have been told that the government is not effective in running a company.

AZeD1:

Britain along with other western nations privatized most of the states owned companies. I have no problem with that. I only brought it because Nigerians have been told that the government is not effective in running a company.

Thanks for bringing this up with very solid examples.
However do you think there is a general, overwhelming consensus of opinion that private investors are MORE effective in running a company

mikeansy:


The drive to build local refining capacity in an industrial scale to offset the shortfall in crude sales needs government support.

If after kicking this off and making sure it is succeeding Government decide to privatise it then thats fine. But for now it will not be bad to model NNPC on similar State Owned companies as GAZPROM and PETROBAS.

I think BP used to be state owned until it became Private.

We are probably saying the same thing from different angles.

While you are looking at the starting point with government support I am looking at much further down the line with government-regulated but private sector led robust investment and growth that yields greater REVENUE to government than increased subsidies to parasitic government-owned companies.

Moreover you did not define the type & extent of support you expect from government to kick-start & encourage the initial phase of the industrialisation process.
Do you wish to expand on that

anonimi:


Thanks for bringing this up with very solid examples.
However do you think there is a general, overwhelming consensus of opinion that private investors are MORE effective in running a company

Yes and that's because of bureaucracy.
My argument is the same set of people who run private enterprises are no different from those in government. You just need to set the right policies.
E.g, We should get rid of federal character and everything that doesn't scream meritocracy from the Nigerian civil service.

AZeD1:

Yes and that's because of bureaucracy.
My argument is the same set of people who run private enterprises are no different from those in government. You just need to set the right policies.
E.g, We should get rid of federal character and everything that doesn't scream meritocracy from the Nigerian civil service.

That is a good WISH.
However our reality is that we cannot "get rid of federal character and everything that doesn't scream meritocracy from the Nigerian civil service" and government parastatals as well as government-owned companies.

And I do not think this phenomenon is limited to our country or African countries only i.e. COMPARATIVE better efficiency & effectiveness of the private sector/company vis-a-vis the public service/government-owned company.

anonimi:


That is a good WISH.
However our reality is that we cannot "get rid of federal character and everything that doesn't scream meritocracy from the Nigerian civil service" and government parastatals as well as government-owned companies.

And I do not think this phenomenon is limited to our country or African countries only i.e. COMPARATIVE better efficiency & effectiveness of the private sector/company vis-a-vis the public service/government-owned company.

Its not limited to African countries alone as most government jobs are unionized.