IMPORTANT INFORMATION

1) One barrel of Crude oil = 42 gallons or 159 litres

2) Our Refineries (i.e 4) Installed (combined) capacity = 445,000 barrels per day

3) Actual refineries capacity due to ageing equipment = 30% i.e. 133,500 barrels per day.

4) 133,500 barrels = 21.2 million litres

5) Local required consumption (F.O.S) = 12millions litres

6) It means that even our MORIBOND refineries can actually meet our local consumption need of petroleum.

7) The cost structure of crude oil (i.e. Qua Iboe Crude Oil) production; - Findings / development - $3.5
- Production cost - $1.5
- Refining Cost - $12.6
- Pipeline/transportation - $1.5
- Distr/bridging fund Margin -$15.69 True cost of one litre of petroleum anywhere in Nigeria;
- Total sum cost = $34.8
- 1ltr cost = $34.8/159 litres = $0.219
- Naira equiv. 0.219xN160= N35.02k
- Add Tax N5 + N35.02 = N40.02

9) Let FGN refute the above composition and if not, they should tell us how they came about N95/N85 litre.

10) Locally refined products cannot be sold at International price.

11) We really do not need FGN SUBSIDY as there was NONE in the first place.

12) What is LACKING, is the WILL to enforce LAW ON CORRUPTION.

We still stand a chance as a COUNTRY.

Analysis by Professor Tam David West, former Petroleum Minister.

Na now you they give us analysis like say fuel price come down during your time....your left ball there

WAEC maths question no. 6

Na now the man come post the expo after 24hrs.

ABSOLUTE Rubbish!!!

He was a minister there for some yrs

Price did not drop

Give him that portfolio again ....he will start giving excuses

Sabotage
Sabotaging
Sabotasis
Sabotagizing
Sabotization

http://mondaymidnitevision..com/2011/10/theres-no-fuel-subsidy-in-nigeria-says.html?m=1
follow the link and add more sense

what is this man saying sef? If i start my own analysis here eh, i swear even Oga David West would nominate me for Minister of Petrouleum.