Chicken change. Collect the $2.1 billion from Dasuki and his crew!!!!

They should find someone out of the looters who's gonna volunteer to bring out the money.... As simple as that.....

The 13b pounds they recovered from DIEZANI nko? e go reach change go remain to share everybody 10m each. When I saw this man' s résumé fear catch me na ur NNPC administration worse pass always promising and failing. nor be by certificate. OBJ without any formal certificate ran d oil sector well and d country. Mr Kachikwu just gotto church and leave us to reel in our plight

That is little fraction to the loots of our leaders... Its a pity that our great Nation has been in a state of quagmire in the hands of visionless leaders... I pray God guide all those who fight for the goodwill of this Nation.. (sobs)..

God help them with it

What about all the looters funds, what has Buhari done with refunds, why can't he just put them into the repairs of the refineries?



OR


Has he looted them too...

I won't be surprised even if that happens after all there is a saying that "thief na e dey call another person thief"


God bless Nigeria!!!

MzMercie:
D recovered loot nko? No need to borrow

Abiooo!!!

drss1:
d lies of dis govt is unbelievable wat about d $500 million kachukwu talk say dem save for subsidy last year
hope nigerians dey see d kind nonsense wey dey face dis con3 hypocrisy on tribalism go bury dis con3. if dis con3, serius, dem for don sell dis scrap refineries teh teh. dis refineries na liabilities.
until nigerians wake up from daura economics, dis refinery wahala go continew forever!
[b]-after OBJ wasted billions of dollars trying to revive refineries to no avail, him finally approved say make dem sell dem in 2006. but wetin happen yar adua revoke am.
- yar adua den voted hundreds of millions of dollars to revive d scraps OBJ spend billions trying to repair. but wetin happen few weeks later dem spoil again.
-GEJ voted hundreds of millions of dollars to repair d same refineries yar adua spend millions trying to repair. dem start work, but 2 weeks later dem crash again. na dat time GEJ talk say dis problem no go disapear unless him remove fuel subsidy to allow oyel investors build private refineries. den 2012, GEJ remove fuel subsidy. but wetin happen ojota dancers took to d street to protest fuel subsidy removal.
-deziani again advocate say make nigeria sell her refineries ASAP sake of say dem be liabilities. dem no dey generate d con3 any revenue. but wetin happen dem cabals started witch hunting her like criminal.
-today, kachukwu dey talk say him need $700 million repair refineries again! same ones wey OBJ, yar adua n GEJ spend billions of dollars trying to repair![/b]
abeg make una kuku look at d above n tell me say dis one no be madness abi e no beta make govt just sell all d refineries use d moni build new ones how much dem spend in d last 17 years trying to revive d scraps d moni wey dem waste for dis scraps go build at least, 5 brand new refineries!

my brother the matter dom tire person. which kind country be this self? everyday same problem and no solution.

Record have it that You spend $600million monthly on importation of fuel. Why not spare few months and spend the money to upgrade our refinary.

A former governor's attempt to dump >$500 million was refused. Add two and two together to figure out that our present crop of political leaders are tossers!

In another jist
https://www.nairaland.com/2642266/700-million-raw-cash-found

Ohammadike:
The Minister of State for Petroleum, Ibe Kachikwu, said on Saturday that the Federal Government needed 700 million dollars to upgrade its refineries to produce at maximum capacities.
Mr. Kachikwu, who is also the Group Managing Director of NNPC, disclosed this while speaking with journalists during the re-inauguration of the Port Harcourt/Bonny Crude Supply Line at the Port Harcourt Refining Company (PHRC), Eleme, Rivers.
He said that due to the fact that the nation did not have such amount, advertisements had been signed for investors to come in.
According to him, “we are not inviting foreign partners to take over the refineries; the total investment for that is up to $700 million and we don’t have that. Let us be honest about it”.
”So, the best thing to do is to find a very creative way to bring in investors, who will come in, work with our team here;
‘’Investors, who have the skills to reactivate and upgrade facilities in this place and help us provide technical support and we will pay through the flow-out of the refined products over time,” he said.
Mr. Kachikwu emphasised that there should be no confusion about what the investors would be coming to do, since they would not come to run the refinery.
”They are coming to provide funds to take our performance on these refineries to 90 percent and to provide us with technical skills.
Foramfera
”So, the areas of intervention will be funding and technical support,” he said.
Mr. Kachikwu said that at present, Nigerians were consuming about 45 million litres of petrol daily, while the refineries were producing 12 million litres daily as they were working at 60 per cent capacity.
He said the nation will need to upgrade the refineries and let them develop to the point where they can perform up to 90 per cent.
He said by the time the refineries were upgraded to lstart producing at 90 per cent, about 20 million litres would be produced daily.
The minister said that with such production, it would only meet up with about half of the country’s consumption.
Mr. Kachikwu, however, apologised to Nigerians for their suffering due to the fuel scarcity and also thanked Nigerians for their patience.
He explained that the government had been able to recover the two critical crude supply pipelines; which were Escravos/Warri and Bonny/Port Harcourt crude supply pipelines.
Mr. Kachikwu said that the pipelines were down for six to seven years but had been repaired and were working and supplying crude to the refineries.
”For the first time, the refineries will get their crude, pay for it; they will sell their products and they will earn the income from that product.
”And then, they can develop and continue to maintain the refineries even after this intervention is over.
”Port Harcourt is back in production, Warri is back in production; Kaduna today is receiving and will soon be back in production. It is something of joy,” he said.
Mr. Kachikwu said, ”Lagos is easing off now from fuel scarcity and Abuja is doing the same thing; once Kaduna begins to produce, the North will see a lot of improvement.
”Over and above that, we are putting long term policies in place to ensure that while smaller marketers go out and do their stuff, we can then be the key suppliers for the rest of the country.”
He commended the workers and the contractors for a job well done; adding that he had signed the promotion letters of the Port Harcourt Refining Company staff as they deserved to be rewarded.


Mr. Kachikwu, however, said there is a lot still to be done, ”I told you I will never give up.
“We owe Nigerians the duty to ensure that the refineries are working. We owe Nigerians that, we can’t give up,” he said.
The minister urged Nigerians to remain resilient, “support what the government is doing because this is the only way to change the system.” http://www.premiumtimesng.com/news/top-news/202317-nigeria-needs-700-million-upgrade-refineries-kachikwu.html?utm_source=

What are they waiting for then...
They should may use of those looted cash now....
Abi EFCC no get money ni.

Oga minister that money na small money joor. Nor be people sef thief billions of $? How much has been recovered by all the anti graft agencies? Can't NNPC raise that money? Another excuse to extend the fuel scarcity thing

kYjelly2:


U are making sense sha, hmmm :-
I've always felt, government owned in Nigeria is just a black hole.

Electricity money thrown, swoooop! Black hole suck am.

Refinery money, swooop! Into the black hole.

Even Nitel back then, swoopydeeswoooop


Abeg, make dem sell am and hands off the sector, except for regulation and no, not price regulation

Remember that, we now have a firm president.

drss1:
d lies of dis govt is unbelievable wat about d $500 million kachukwu talk say dem save for subsidy last year
hope nigerians dey see d kind nonsense wey dey face dis con3 hypocrisy on tribalism go bury dis con3. if dis con3, serius, dem for don sell dis scrap refineries teh teh. dis refineries na liabilities.
until nigerians wake up from daura economics, dis refinery wahala go continew forever!
[b]-after OBJ wasted billions of dollars trying to revive refineries to no avail, him finally approved say make dem sell dem in 2006. but wetin happen yar adua revoke am.
- yar adua den voted hundreds of millions of dollars to revive d scraps OBJ spend billions trying to repair. but wetin happen few weeks later dem spoil again.
-GEJ voted hundreds of millions of dollars to repair d same refineries yar adua spend millions trying to repair. dem start work, but 2 weeks later dem crash again. na dat time GEJ talk say dis problem no go disapear unless him remove fuel subsidy to allow oyel investors build private refineries. den 2012, GEJ remove fuel subsidy. but wetin happen ojota dancers took to d street to protest fuel subsidy removal.
-deziani again advocate say make nigeria sell her refineries ASAP sake of say dem be liabilities. dem no dey generate d con3 any revenue. but wetin happen dem cabals started witch hunting her like criminal.
-today, kachukwu dey talk say him need $700 million repair refineries again! same ones wey OBJ, yar adua n GEJ spend billions of dollars trying to repair![/b]
abeg make una kuku look at d above n tell me say dis one no be madness abi e no beta make govt just sell all d refineries use d moni build new ones how much dem spend in d last 17 years trying to revive d scraps d moni wey dem waste for dis scraps go build at least, 5 brand new refineries!

so since the new givernment don remove subsidy ow many refinery investors don build? How many investors build refinery for third world economy sef?

bishopkay:
Oga Kachickwu...abeg why you dey tell us?? The "loots" when your Oga say una government don recover so, una no dey use am dey repair the refineries?? Abi the "recovered loots" na for paper sensation ??

Even if they don't want to use the recovered funds...

Why can't they use the money they got from the sale of crude to finance it.

Nigeria produces 2.27 million barrels of crude daily

Oga Kachukwu needs $700million to repair d refinery.
Crude oil price is $46.

Meaning they will be needing the sale of 700,000,000/46 =15.22million barrels.

NIGERIA produces 2.27 million barrels daily

Meaning 15.22million barrels of crude can be gotten in 7 days...
2.27 m bpd × 7d= 15.89 barrels per day.

If d mathematics I was thought in school is correct and adding natural conditions to the operation of the industry.

I will say, within 10 days or 2 weeks NNPC can produce enough crude they will use in fixing the refinery.

They should stop deceiving us!

UEK33:
privatise those refineries and spare us this long story..

who go buy am? The 45 licenses we sold sef... None dey perform

& one zombie will come n write istandwithbuhari. b.astards

Why not use the loots recovered from these guys??

Dasuki
Nenadi usman
Diezanni... etc

have we forgot that crom oil got the same amount during Pa OLUSEGUN OBASANJO term in office ask chief Emeka ofor what was the dollar price then and kachukwo the price now

nigeria is in big trouble

I doubt if any of these leaders still drive cars of 2013.


How old are these refineries?

How much is the cost of a new one?

Nigeria too like short term plans

One of Abacha's loots will be more than enough

UEK33:
privatise those refineries and spare us this long story..

Kachikwu would love to sell the refineries, but i am sure PMB is against the selling of these refineries.

Ohammadike:
The Minister of State for Petroleum, Ibe Kachikwu, said on Saturday that the Federal Government needed 700 million dollars to upgrade its refineries to produce at maximum capacities.
Mr. Kachikwu, who is also the Group Managing Director of NNPC, disclosed this while speaking with journalists during the re-inauguration of the Port Harcourt/Bonny Crude Supply Line at the Port Harcourt Refining Company (PHRC), Eleme, Rivers.
He said that due to the fact that the nation did not have such amount, advertisements had been signed for investors to come in.
According to him, “we are not inviting foreign partners to take over the refineries; the total investment for that is up to $700 million and we don’t have that. Let us be honest about it”.
”So, the best thing to do is to find a very creative way to bring in investors, who will come in, work with our team here;
‘’Investors, who have the skills to reactivate and upgrade facilities in this place and help us provide technical support and we will pay through the flow-out of the refined products over time,” he said.
Mr. Kachikwu emphasised that there should be no confusion about what the investors would be coming to do, since they would not come to run the refinery.
”They are coming to provide funds to take our performance on these refineries to 90 percent and to provide us with technical skills.
Foramfera
”So, the areas of intervention will be funding and technical support,” he said.
Mr. Kachikwu said that at present, Nigerians were consuming about 45 million litres of petrol daily, while the refineries were producing 12 million litres daily as they were working at 60 per cent capacity.
He said the nation will need to upgrade the refineries and let them develop to the point where they can perform up to 90 per cent.
He said by the time the refineries were upgraded to lstart producing at 90 per cent, about 20 million litres would be produced daily.
The minister said that with such production, it would only meet up with about half of the country’s consumption.
Mr. Kachikwu, however, apologised to Nigerians for their suffering due to the fuel scarcity and also thanked Nigerians for their patience.
He explained that the government had been able to recover the two critical crude supply pipelines; which were Escravos/Warri and Bonny/Port Harcourt crude supply pipelines.
Mr. Kachikwu said that the pipelines were down for six to seven years but had been repaired and were working and supplying crude to the refineries.
”For the first time, the refineries will get their crude, pay for it; they will sell their products and they will earn the income from that product.
”And then, they can develop and continue to maintain the refineries even after this intervention is over.
”Port Harcourt is back in production, Warri is back in production; Kaduna today is receiving and will soon be back in production. It is something of joy,” he said.
Mr. Kachikwu said, ”Lagos is easing off now from fuel scarcity and Abuja is doing the same thing; once Kaduna begins to produce, the North will see a lot of improvement.
”Over and above that, we are putting long term policies in place to ensure that while smaller marketers go out and do their stuff, we can then be the key suppliers for the rest of the country.”
He commended the workers and the contractors for a job well done; adding that he had signed the promotion letters of the Port Harcourt Refining Company staff as they deserved to be rewarded.


Mr. Kachikwu, however, said there is a lot still to be done, ”I told you I will never give up.
“We owe Nigerians the duty to ensure that the refineries are working. We owe Nigerians that, we can’t give up,” he said.
The minister urged Nigerians to remain resilient, “support what the government is doing because this is the only way to change the system.” http://www.premiumtimesng.com/news/top-news/202317-nigeria-needs-700-million-upgrade-refineries-kachikwu.html?utm_source=

pahh...una must be kidding me.....nigeria is in no way self-sufficient with this info......

thunda fire anybody that blames the minister for our own laziness.....

corruption is in every culture and nations and system...

china just excuted a general for accusations of corruption not long ago......

lets be honest....

we,nigerians a fvcking lazy....


lets say the truth for ones......its the truth!....

even if all refineries are working to 100procent....we will still not have enough daily.....!!!!...

Took the word right outta my mouth, mate!!

Idrismusty97:
What happened to our second biggest revenue generator Abacha loots?

My people are still taking news from Zoogeria seriously.
Dream on!



End time needing of money...

Again?

drss1:
d lies of dis govt is unbelievable wat about d $500 million kachukwu talk say dem save for subsidy last year
hope nigerians dey see d kind nonsense wey dey face dis con3 hypocrisy on tribalism go bury dis con3. if dis con3, serius, dem for don sell dis scrap refineries teh teh. dis refineries na liabilities.
until nigerians wake up from daura economics, dis refinery wahala go continew forever!
[b]-after OBJ wasted billions of dollars trying to revive refineries to no avail, him finally approved say make dem sell dem in 2006. but wetin happen yar adua revoke am.
- yar adua den voted hundreds of millions of dollars to revive d scraps OBJ spend billions trying to repair. but wetin happen few weeks later dem spoil again.
-GEJ voted hundreds of millions of dollars to repair d same refineries yar adua spend millions trying to repair. dem start work, but 2 weeks later dem crash again. na dat time GEJ talk say dis problem no go disapear unless him remove fuel subsidy to allow oyel investors build private refineries. den 2012, GEJ remove fuel subsidy. but wetin happen ojota dancers took to d street to protest fuel subsidy removal.
-deziani again advocate say make nigeria sell her refineries ASAP sake of say dem be liabilities. dem no dey generate d con3 any revenue. but wetin happen dem cabals started witch hunting her like criminal.
-today, kachukwu dey talk say him need $700 million repair refineries again! same ones wey OBJ, yar adua n GEJ spend billions of dollars trying to repair![/b]
abeg make una kuku look at d above n tell me say dis one no be madness abi e no beta make govt just sell all d refineries use d moni build new ones how much dem spend in d last 17 years trying to revive d scraps d moni wey dem waste for dis scraps go build at least, 5 brand new refineries!

Point of correction. The past PDP administrations did not SPEND billions of dollars on the refineries. They appropriated billions of dollars for refineries, but most likely spent them on political allies, parties, properties and prostitutes.

This is a new Government now. Benefit of doubt for now that the money will now be actually spent on fixing the refineries, especially if foreign partners are brought in.

I will want to rate this government and an award as the government of the news paper.

Nalikedis:
so since the new givernment don remove subsidy ow many refinery investors don build? How many investors build refinery for third world economy sef?

remove wetin subsidy still in place.

samx4real:


Even if they don't want to use the recovered funds...

Why can't they use the money they got from the sale of crude to finance it.

Nigeria produces 2.27 million barrels of crude daily

Oga Kachukwu needs $700million to repair d refinery.
Crude oil price is $46.

Meaning they will be needing the sale of 700,000,000/46 =15.22million barrels.

NIGERIA produces 2.27 million barrels daily

Meaning 15.22million barrels of crude can be gotten in 7 days...
2.27 m bpd × 7d= 15.89 barrels per day.

If d mathematics I was thought in school is correct and adding natural conditions to the operation of the industry.

I will say, within 10 days or 2 weeks NNPC can produce enough crude they will use in fixing the refinery.

They should stop deceiving us!

Google the cost of production in Nigeria before you assume, cost to produce the crude oil is around $30 per barrel, so that's $16 left at current prices, minus other expenses

Standing5:
Where do u think they get the funds for bail out n running the system from?

the way things stand, the fixing of the refineries is of more national interest than the bail outs.

texazzpete:


Point of correction. The past PDP administrations did not SPEND billions of dollars on the refineries. They appropriated billions of dollars for refineries, but most likely spent them on political allies, parties, properties and prostitutes.

This is a new Government now. Benefit of doubt for now that the money will now be actually spent on fixing the refineries, especially if foreign partners are brought in.

we are here talking and discussing waht this minister is saying you have to go to PDP
with the newsy forex going on what investor do you think would want thier fingers burnt,I give kachukwu credits though for coming out to say the truth at least we now know where we at with the refineries, enough of lies being told i n the past.So with this new admission its safe to say we are in square zero.The question we should be asking now is What do we do now