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Re: Jonathan Election Loss May Be Nigeria Positive - Bloomberg News by Mynd44: 10:26am On Jan 11, 2015 |
anonimi:And what happened? What happened to the money saved from the partial subsidy? Where are the palliatives? You people talk like you don't live in Nigeria. When petroleum prices go up, not just motorist suffers but we all do. I need more money to power my generator, production firms need more money, hell even telecoms companies suffers as the price of diesel is too high. What stopped the Goodluck administration from building new refineries, fixing old ones and then removing the subsidy? That is economic policy with the people in mind. 3 Likes |
Re: Jonathan Election Loss May Be Nigeria Positive - Bloomberg News by duni04(m): 10:27am On Jan 11, 2015 |
vanunu:No reasonable foreign investor will come to Nigeria to build a refinery when your government is going to dictate his selling price to him. If you remove price controls or subsidy, people will come in and build refineries and sell at their own prices. 2 Likes |
Re: Jonathan Election Loss May Be Nigeria Positive - Bloomberg News by duni04(m): 10:32am On Jan 11, 2015 |
Mynd44:Asking the government to build new refineries is like going back to your vomit. We have 3 refineries now that are badly run and have probably never attained optimum production capacity since the 80's or 90's when they were built. We need privately held and run refineries, and to have them we must liberalise our downstream sector. You don't put the cart before the horse, remove the subsidy first and allow competition to bring down prices. 1 Like |
Re: Jonathan Election Loss May Be Nigeria Positive - Bloomberg News by Mynd44: 10:32am On Jan 11, 2015 |
duni04:What we need are local solutions to local problems. Award Oil blocs to oil indigenous firms Dangote, Oando, Adenuga, Zenon oil and then award the license for refinery on the condition that the oil that comes from the Oil bloc is only going to go to the refineries and sold locally at market defined costs. Take out the price control and watch market forces work |
Re: Jonathan Election Loss May Be Nigeria Positive - Bloomberg News by Mynd44: 10:35am On Jan 11, 2015 |
duni04:Do not remove the subsidy. Fix the darned refineries, build new ones or allow private investors build new ones then remove subsidy. Where will the money being used for the subsidy go if it is removed? The same place the money saved from the partial removal went thin air |
Re: Jonathan Election Loss May Be Nigeria Positive - Bloomberg News by duni04(m): 10:39am On Jan 11, 2015 |
Mynd44:Oil supply is not the problem, Adenuga already owns oil blocks through conoil. The problem is local refining. Why don't we have people building refineries when we consume a lot of petrol locsally? Cos its not profitable in a price control regime. I'm not going invest 10 billion dollars on a refinery when I'm not sure your government will not wake up tomorrow and tell me to sell petrol at a loss. 1 Like |
Re: Jonathan Election Loss May Be Nigeria Positive - Bloomberg News by duni04(m): 10:42am On Jan 11, 2015 |
Mynd44:You know we've been fixing these refineries since the 80's? You know the number of billionaires that have emerged from helping us 'fix' our refineries? 2 Likes |
Re: Jonathan Election Loss May Be Nigeria Positive - Bloomberg News by Mynd44: 10:46am On Jan 11, 2015 |
duni04:The only reason there is a price control is because we import refined products. I agree that price control should be removed but not before refineries are built. An agreement should be reached and when the refineries are almost done, remove price control. Removing price control before refineries are even constructed is callous and giving the guys importing fuel acess to billions in the 18months it will take to build new refineries |
Re: Jonathan Election Loss May Be Nigeria Positive - Bloomberg News by Mynd44: 10:49am On Jan 11, 2015 |
duni04:The reason this is so is that we keep giving this to the corrupt and if they do a bad job, we accept it. How are we going to successfully do turn around maintenance on a refinery when the president is making statements like "The money Nwobodo stole is not enough to buy a volkswagen car and yet he was sent to jail"? We are sending a message that we condole corruption and so they steal the money. 1 Like |
Re: Jonathan Election Loss May Be Nigeria Positive - Bloomberg News by Capitano1(m): 10:50am On Jan 11, 2015 |
What ever your prediction may be I don't care ,"I still need some more shoes"
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Re: Jonathan Election Loss May Be Nigeria Positive - Bloomberg News by spikesC(m): 10:50am On Jan 11, 2015 |
Mynd44: Private investors will never ever build refineries without the subsidy being removed or even without an assurance. They have to be able to speculate their financial record with a clear feasibility study. You don't just invest in a company making losses with the hope that things will get better |
Re: Jonathan Election Loss May Be Nigeria Positive - Bloomberg News by duni04(m): 10:51am On Jan 11, 2015 |
Mynd44:Lol well I don't know of any foreign investors that will be willing to play that kind of game in a politically volatile country like Nigeria. So if Jonathans regime agrees to that kind of deal and the foreign investor starts building his refinery, what is the guaranty that if Buhari comes in, he won't cancel the contract? That's not how investment operates. You create an enabling environment first for investment to thrive before investors come. Reomove price controls and watch them swarm around Nigeria to build refineries, like flies on a corpse 2 Likes |
Re: Jonathan Election Loss May Be Nigeria Positive - Bloomberg News by Mynd44: 10:55am On Jan 11, 2015 |
duni04:Guy, you dont need foreign investors to build refineries. You have firms here who can finance that. An agreement with them detailing the need to continue with the current price regime and have an agreement is enough. |
Re: Jonathan Election Loss May Be Nigeria Positive - Bloomberg News by duni04(m): 11:03am On Jan 11, 2015 |
Mynd44:I don't think its workable. It would be way easier and more open if we just removed the subsidy and allowed people build at will. Cutting deals with select local companies and agreeing to sell discounted oil to their refineries on the condition that they sell locally will only replace one form of control with another and promote corruption and monopoly. Its cleaner and easier to open the entire sector up to investment. Though we'll suffer initially, on the long run we'll be the better for it. If we'd agreed to the subsidy removal in 2011, we'd probably be enjoying N80 or N60 petrol now 2 Likes |
Re: Jonathan Election Loss May Be Nigeria Positive - Bloomberg News by ceejayluv(m): 11:15am On Jan 11, 2015 |
divaoflife:Same Sanusi proposed the oil subsidy removal but some sophisticated folks decided to dance azonto at ojota... 1 Like |
Re: Jonathan Election Loss May Be Nigeria Positive - Bloomberg News by Louislewis: 11:16am On Jan 11, 2015 |
You are being short sighted. You think is going to be easy when he is not given the second term tenure like other zones. Watch out! If you like mind my words. Nigerians depend much more on revenue from oil proceeds. Watch out how this is going to be paralysed. The early they allow this man to finish his second term tenure the better. Northern have made this nation ungovernable for him, likewise is the Niger Deltas going to make the revenue generating source useless for this nation. I only have mercy for the next president if this equation is not balanced. 1 Like |
Re: Jonathan Election Loss May Be Nigeria Positive - Bloomberg News by edgyslim: 11:21am On Jan 11, 2015 |
kingthreat: Nice 1 bro. No mind the clown. 1 Like |
Re: Jonathan Election Loss May Be Nigeria Positive - Bloomberg News by Kayczz: 11:25am On Jan 11, 2015 |
imoleay0:imagine I was listening to GEJ speak on TV in Enugu yesterday and i couldn't quite fathom wat he meant when he said and I quote. '' how much did Jim Nwobodo stole!?? Money not enough to acquire a Peugeot saloon car and Buhari regime sent him to Jail''...so there&then, I stopped wondering why he pardoned alameiseiga, a man who embezzled almost enough money to buy the whole Peugeot company... indeed, change is what we need.... 5 Likes |
Re: Jonathan Election Loss May Be Nigeria Positive - Bloomberg News by 1stola: 11:25am On Jan 11, 2015 |
JONATHAN WILL LOSE FOUGHT COMING ELECTION. BOOKMARK THIS PAGE AND QUOTE ME. 2 Likes |
Re: Jonathan Election Loss May Be Nigeria Positive - Bloomberg News by LouisVanGaal(m): 11:26am On Jan 11, 2015 |
arsetalks:Bros, mere sighting his moniker sef...u ud know that he has a bungalow brain with nothing upstairs 2 Likes |
Re: Jonathan Election Loss May Be Nigeria Positive - Bloomberg News by datribune: 11:27am On Jan 11, 2015 |
AAinEqGuinea: I didn't hear an amen 4 d heartfelt prayer. Hahahaha rebasing? I guess we should be celebrating growth without development or a govt & a system dat has created d greatest inequality in our land. dis empty statistics hav no meaning or impact on d masses of Nigeria. d richest black man in d world is Nigerian. d richest black woman is Nigerian. Nigeria has d greatest number of private jet owners in Africa but d mass of d people live in abject poverty - below $1 - $2 a day. Our national patrimony is daily being shared among a cabal of govt sponsors in scams disguised as privatization deals dat reek of corruption & infamy. To dis inept & corrupt govt, stealing is not corruption. dis govt has failed in every area of leadership & development of our nation. WRONG! A small minority of nigerians ar doing fine as is. That's not good enough 4 Nigeria. We can do better. 2 Likes |
Re: Jonathan Election Loss May Be Nigeria Positive - Bloomberg News by DukeNija(m): 11:34am On Jan 11, 2015 |
Mynd44: It has been that way since 1999, not the fault of this administration. Besides, a private refinery is on the way |
Re: Jonathan Election Loss May Be Nigeria Positive - Bloomberg News by waternogeteneny: 11:35am On Jan 11, 2015 |
[size=28pt]In theory and not a proven fact as it could turn out worst with Buhari.[/size] 1 Like |
Re: Jonathan Election Loss May Be Nigeria Positive - Bloomberg News by Originalsly: 11:37am On Jan 11, 2015 |
dollyptosh:The subsidy removal was right.....what was wrong was the follow up that never happened....what did the FG do with the withdrawn subsidy? Nobody knows...so that being the case...like Mynd said....restore the subsidy.Aside...help me understand how you can be bragging about being a big oil producer and not having refineries...nor making serious efforts to have? In Nigeria Petrol should be competing with the price of pure water. 1 Like |
Re: Jonathan Election Loss May Be Nigeria Positive - Bloomberg News by Oduduwaboy(m): 11:38am On Jan 11, 2015 |
APC is very strong sha! They have even bribed Bloomberg News too!! I remember they also bribed Aisha Sesay of CNN & Hillary Clinton last year. I think GEJ has seen the handwriting on the wall ' Mene mene tekel upharsin '... Otuoke here your (dis) illustrious son comes , to hold court for the creek warriors for the rest of his life! 2 Likes |
Re: Jonathan Election Loss May Be Nigeria Positive - Bloomberg News by tatosh: 11:39am On Jan 11, 2015 |
He has made a choice for us
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Re: Jonathan Election Loss May Be Nigeria Positive - Bloomberg News by ideyvexnow: 11:40am On Jan 11, 2015 |
Re: Jonathan Election Loss May Be Nigeria Positive - Bloomberg News by Nobody: 11:49am On Jan 11, 2015 |
Oh! How i love the social media; it can neither be bought nor controlled. how i wish policies will be made out of peoples thought and expectation and not the ''BIG PUSH APPROACH'' we are used to. |
Re: Jonathan Election Loss May Be Nigeria Positive - Bloomberg News by duni04(m): 11:54am On Jan 11, 2015 |
Originalsly: Petrol can be extreamly cheap in Nigeria, but not through subsidies. Its true that we ought to have refineries but refineries owned by who? Our previous experience with government controlled refineries is that they never work because of vested interests that make money from 'maintaining' them and selling the very little they produce at the government controlled prices, when in actual fact its cheaper. Petrol can be cheap in Nigeria if we allow people come here and build refineries enmass. There will be no landing cost or foreign exchange costs that importers are currently factoring into their selling price. It'll just be to transport petrol from the refineries to the petrol stations. The only way this kind of regime can operate in Nigeria is when we allow investors come and build these refineries, and they will only come when we liberalise our downstream sector by not dictating their selling price to them. Its very simple! 1 Like |
Re: Jonathan Election Loss May Be Nigeria Positive - Bloomberg News by kingGoldust(m): 12:12pm On Jan 11, 2015 |
Mynd44: You were born with sense and understanding, No be say you buy am . Thanks |
Re: Jonathan Election Loss May Be Nigeria Positive - Bloomberg News by kingGoldust(m): 12:15pm On Jan 11, 2015 |
ideyvexnow: Yimu switttttttt |
Re: Jonathan Election Loss May Be Nigeria Positive - Bloomberg News by bosun11(m): 12:21pm On Jan 11, 2015 |
Mynd44: God bless ya bro.....you should contest for the next future governor of your state... |
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