Does words as no meaning,just wait and see the new revolution

Rick9:
These are the more reason why Okonjo Iweala and Allison Maduekwe should go to jail.

Does words as no meaning,just wait and see the new revolution

This is a cabal that Buhari must fight and let Nigeria win.

lets see...

Martins301:
The easiest way out of these seasonal fuel crises that we face would have been if we were refining our own fuel locally. Instead, we depend largely on fuel refined and imported from overseas. Our new President, Gen. Buhari will certainly face a difficult task in this area if he assumes office. Here are five obstacles that will hinder him in the attempt to stop fuel importation. If the government can sumount them then fine. At least we will make a headway. Here we go:

1. Our refineries are not yet ready. With a refining capacity of over 450,000bpd that cannot even meet our domestic needs and operating at less than 30% mostly due to machine failure, our refineries are just not ready for the task ahead.

2. Government generates revenue from the process. Am talking about the VAT and other charges levied on imported petroleum products. If we stop importing fuel today, there will be a significant drop in government revenue, and if other sources of government revenue remains constant, our budget deficit will rise, debt profile will rise and the future sufferings of Nigerians will rise. Can you accept that?

3. Significant investments have been made into providing facilities for fuel importation. Am talking about the facilities for transporting fuel to Nigeria, those for moving the products from the vessels into storage facilities, those for administration, etc. People invested money into them. Do you think they will be smiling when an attempt is make to cut off their source of income?

4. Fraudulent oil marketers are benefiting from the process. Those who falsify/doctor their documents just to overcharge the government for subsidy, those who cause unnecessary delays in offloading petroleum products just so it can incure demurage, etc. All of them will come together to frustrate any attempt to stop fuel importation just as generator sellers are doing to our electricity generation companies. If you still don't understand, go and read the PwC report.

5. Risk of unemployment. All those people directly or indirectly employed as a result of the fuel importation business will face the risk of losing their jobs. They are among those praying that we should continue to import fuel.

Additions, subtractions and meaningful observations are welcome.


Source: Martin301

where can I get the pwc report

Martins301:


Bro am not getting your gist yet. I will appreciate if you can provide credible links to support your postulation. Nigeria's four refineries combined and in different states, have a total installed capacity of about 450,000 bpd. Now you are saying that only two that are yet to be built have a combined capacity of 1 million bpd!

You cannot possibly be this lazy.? She you know you are a leader of tomorrow and you don't know how to use google yet.? Na wa o

muh4lyf:
So is the writer now insinuating that we shouldn't stop importation,leave our refineries to rotten... Point of correction,getting the refinery to work can not be immediate, it's a process. Why do we Nigerians always look at the negative side without the positive side.. Pessimism I guess... Please try and be positive, talk about how repairing our refineries would generate employment and not how people would lose their jobs ...

I agree with you all the way. When will we start thinking of the greater good. The employment part is what gets me puzzled, what jobs are you talking about? Do you know the number of peaople we are employing indirectly in the countries we are buying refined oil from? Do you know what these People earn compared to people offloading fuel at a depot. Its more like we are importing poverty into Nigeria. I wonder whether if we dong have crude oil we won't survive as a nation.

Moreso, I overhead on a TV program that Malaysia now earns up to 20b dollars from oil palm whose seeds were Taken from Nigeria. India makes over 600m dollars from Nigerians on medical tourism.

A link on Malaysian palm oil proceeds
http://mobile.reuters.com/article/idUSBREA3Q0P320140427
Please OP don't insult our sensibilities. Thanks!

angelberton:


The savings from fraudulent oil marketers, demurrage and subsidy will more than off-set lose of VAT from imported fuel.

The investment in refineries will mean more jobs for Nigerian, transfer of technology and cheaper oil for Nigerians. Those with some experience of working in an oil environment, be it at the sea ports, or loading or off-loading etc., can be recycled with minimum training to work in the expanding domestic oil sector.

As Nigeria becomes self-sufficient in fuel and allied petroleum products, resources will be freed to invest in other sectors of our economy.
With a growing and expanding economy, there will be plenty of job opportunities.

Brilliant, especially the second point. Echoed my thought

All your points are highly correct and practical. Those that think the marketers are scared of the incoming administration should think twice. We are still under their prerequisite for now, until those highlighted points are fully addressed. And if buhari uses strong hand to deal with them, expect a double response from the marketers. All the pipelines connected to our refineries have been vandalized by some unfaced hoodlum which has render production at a standstill. Power has reduce from 4000MW to 1200MW due to sabotage, probably GMB is a miracle worker, he will fixed our military at every strategic creek to monitor every inter-connected network pipelines. I just pray we don't experience series of strike action under is administration. Change is gradual and not sudden, if you intend to change a system by force, that same force may change you instead. Our oil marketers can only be stopped "by changing the system and not changing them"

One man's prayer is another man's bad market. . .God bless Nigeria

I think we have to start somewhere. And it begins with our positive attitude, not with an opinion like the OP's. Even if the refineries will get functional in years to come, we should think about taking control of our own products and creating jobs. I think our economy will be better by driving a few oil barons out of the system and creating jobs for thousands of Nigerians.

Mynd44:
Dangote is building a refinery in Lagos which had a capacity of 400,000 and I hear it is being expanded to 600,000

Oando is building one in Lagos too with a capacity of 400,000. These two when finished will make Nigeria an exporter of refined products whether or not our refineries work but they won't be ready until mid and late 2016 so according to Buhari this is what Nigeria intends to do.

Nigeria will give the amount of crude we need to a country that refines and we get that worth back in refined products and we pay for your refining services and we bring it back to Nigeria to sell.

As for those who built facilities bla bla bla, they knew this day will come. They should deal with it

If you ask me, I think Nigeria should just diversify our economy and stop relying on crude oil alone.

nylawal:


I agree with you all the way. When will we start thinking of the greater good. The employment part is what gets me puzzled, what jobs are you talking about? Do you know the number of peaople we are employing indirectly in the countries we are buying refined oil from? Do you know what these People earn compared to people offloading fuel at a depot. Its more like we are importing poverty into Nigeria. I wonder whether if we dong have crude oil we won't survive as a nation.

Moreso, I overhead on a TV program that Malaysia now earns up to 20b dollars from oil palm whose seeds were Taken from Nigeria. India makes over 600m dollars from Nigerians on medical tourism.

A link on Malaysian palm oil proceeds
http://mobile.reuters.com/article/idUSBREA3Q0P320140427
Please OP don't insult our sensibilities. Thanks!

FACT!

kennygee:
I'm wondering how he will remove subsidy and reduce pump price.

Long term the price will fall. All it takes is the investment higher, unsubsidized prices attract.

Well, to me I don't really want to go with this opinion. All what the incoming administration needs is to carefully look at the positive and the negative implication of stopping fuel importation, and then adopt the best. If truly Nigerians wants change, then we should be ready to sacrifice some things for the betterment of our nation(Nigeria).

Bevista:
1. Our refineries are not yet ready.
The new government will have a multi-term strategy. In the short term, NNPC will take over completely the importation of fuel. They will sign an MOU with an international refinery for a SWAP deal. In the medium term, TAM will be carried out on all existing refineries. In the long term, proper deregulation will lead to more refineries & petro-chemical plants.

2. Government generates revenue from the process.
The money saved by NNPC dealing directly with an international refinery will be many times more than the meagre revenue government generates in the current system. Most of the importers are govt cronies, as such do not even pay the right taxes. Also, the money govt looses through fraudulent subsidy payments to these importers is 10x more than the revenue generated. This is penny wise, Pound Foolish.

3. Significant investments have been made into providing facilities for fuel importation.
Most of the existing infrastructure will still be useful. NNPC will still need the private tank farms to store the imported products. They will still need all the private tankers to distribute the products.

4. Fraudulent oil marketers are benefiting from the process.
Do not undermine the power of a President with the political will to get something done. Even the marketers know it's game over.

5. Risk of unemployment.
As I said earlier, most of the existing privately owned infrastructure will still be useful, so most jobs will still be kept. In any case, the huge money saved will be deployed in other sectors that will create far more jobs than will be lost.

In summary, Nigeria does not need the oil thieves!

brilliant, absolutely brilliant. Oil thieves are what we need not!

all these reasons can be done away with immediate except first one that may take time to do away with, great Nigeria

Mind you Refineries can now be imported .... so I heard if TRUE within a month importing fuel can end

Abeg make una leave all this long story for Mathais,thot Buhari was suppose to be the so called Messiah to change tins ASAP?

Mynd44:
Dangote is building a refinery in Lagos which had a capacity of 400,000 and I hear it is being expanded to 600,000

Oando is building one in Lagos too with a capacity of 400,000. These two when finished will make Nigeria an exporter of refined products whether or not our refineries work but they won't be ready until mid and late 2016 so according to Buhari this is what Nigeria intends to do.

Nigeria will give the amount of crude we need to a country that refines and we get that worth back in refined products and we pay for your refining services and we bring it back to Nigeria to sell.

As for those who built facilities bla bla bla, they knew this day will come. They should deal with it

Can you provide a link confirming that aondo is building a refinery?

Sultannayef:
All that points you mentioned are shallow;they are not significant enough. There are several policies that will easily offset such inefficiencies.. all that is required is the political will.

I'm sorry, I can't reply because of some reasons