Firefire:

Absolutely, we need re-colonization.

omenkaLives:
Thee panecea to this prerenial headache of subsidy is simply an aggressive push towards 100% local refining as this would not only create hundreds of thousands of jobs but would also save us scarce forex.

I wonder why successive governments, including this government, make achieving this noble and simplistic goal seem like rocket science.

What a pathetic situation.

adecz:
As usual, this increasingly clueless & heartless govt, run by IPOB members ( Kachikwu & Emefiele) will pass the bill to it's citizens to pay by increasing fuel prices...

omenkaLives:
Thee panecea to this prerenial headache of subsidy is simply an aggressive push towards 100% local refining as this would not only create hundreds of thousands of jobs but would also save us scarce forex.

I wonder why successive governments, including this government, make achieving this noble and simplistic goal seem like rocket science.

What a pathetic situation.

Zenithpeak:
You can only win election with lies and propagandas but can't rule with the same mind set.

LIES AND DECEPTIONS ALWAYS CARRIES INVISIBLE EXPIRY DATE.

pDudd:


Build new refineries huh? At whose expense? Nigeria supplies about 15% of US oil needs and they have most of their oil companies in Nigeria which drill, transport, and refine the oil, and also sell it back to us at a profit.

So we should build refineries? You realize that such a move would interfere with US interests? Countries have been toppled for even harboring such ideas.

Haven't you ever asked yourself why no refineries have ever been built all these years? Just ask Sadam, Gaddafi, and Assad about that.

shinel:
FG can't build any functional refinery, but easily know how to destroy any refinery they found in Niger delta calling it illegal.
Stupid dollardinho govt.
What is wrong in giving them license to operate legally.
More business oriented Nigerians can invest in the business and we start refining oil in mass locally.
Product will be available, no monopoly and we go for the affordable market price.

#sitdownandthinkmumugovt

pDudd:


Build new refineries huh? At whose expense? Nigeria supplies about 15% of US oil needs and they have most of their oil companies in Nigeria which drill, transport, and refine the oil, and also sell it back to us at a profit.

So we should build refineries? You realize that such a move would interfere with US interests? Countries have been toppled for even harboring such ideas.

Haven't you ever asked yourself why no refineries have ever been built all these years? Just ask Sadam, Gaddafi, and Assad about that.

dre11:








http://thenationonlineng.net/petrol-subsidy-back-fg-dilemma-keep-paying-difference/

LordAdam7:


Because it is rocket science.

The Nigerian populace does not want to hear the word privatization.

That's why after OBJ sold the refineries, Yaradua reversed the deal. And GEJ after the subsidy protest taught it wise to leave another controversial sale because he was already getting heat for the PHCN sale.

The fact is that as long as the refineries remain under the government, they wouldn't function optimally. The refineries are a cash cow of very powerful interests, and the only thing Nigerians can really do is sell them of and stop wasting billions of naira on them every year for repairs.

But Nigerians are too emotional and clearly lack the ability to analyze issues constructively.

With this quagmire, there is no government that'd be able to fully optimize refining at the government-owned refineries. Not OBJ, not Yaradua, not GEJ, not Buhari, not Osinbajo...

The plan now is to keep paying marginal subsidy while we all wait for people like Dangote to finish building their private refineries. That was the plan under GEJ, it's still the plan under Buhari. The solution to Nigeria's dilapidated refining capacity is large private refineries.

The masses don't want to accept that, so the government keeps tip-toeing on issues concerning refinery repairs, pushing deadlines, making mouth-watering unrealistic promises, while still creating an avenue to loot.

-Lord

kenazuu:
What have we done with the subsidy removed so far? now they are using style to inform us they are paying subsidy. They better increase the price to the actual landing cost so we can face the reality of this government.

Me, I am ready for 165 per liter. Are the apologist of this administration ready?

People can no longer afford common things that keep life going

food is on high side
water now N15 for one sachet
cement 2700-2800
minimum wage remain 18k
people keep loosing job everyday


why feeding school children with billions of naira when we can build manufacturing companies in the geopolitical areas and millions of job for Nigerian youths

adecz:
As usual, this increasingly clueless & heartless govt, run by IPOB members ( Kachikwu & Emefiele) will pass the bill to it's citizens to pay by increasing fuel prices...

dodelight:
So soon?! Nemesis is catching up with APC already.
What a scam of a government! In their next opposition life they will no how better to play.

pDudd:


Build new refineries huh? At whose expense? Nigeria supplies about 15% of US oil needs and they have most of their oil companies in Nigeria which drill, transport, and refine the oil, and also sell it back to us at a profit.

So we should build refineries? You realize that such a move would interfere with US interests? Countries have been toppled for even harboring such ideas.

Haven't you ever asked yourself why no refineries have ever been built all these years? Just ask Sadam, Gaddafi, and Assad about that.

Thee panecea to this prerenial headache of subsidy is simply an aggressive push towards 100% local refining as this would not only create hundreds of thousands of jobs but would also save us scarce forex.

I wonder why successive governments, including this government, make achieving this noble and simplistic goal seem like rocket science.

What a pathetic situation.

How did we come to the situation of oil subsidy? Nigeria has one of the largest deposits of crude oil in the world. When we had operational refineries, there was not need for subsidies on oil cos the oil products were refined locally and did not attract additional costs associated with transportation back and forth outside of Nigeria for refining.

Then came the refinery breakdown, and we started exporting our raw crude abroad to be refined. This new development has as consequence, that the price of the locally consumed products in Nigeria will attract additional cost i.e. cost of transportation to and from refinery locations abroad and including the cost of refining. (For those familiar with international transportation processes) These products are transported at CIF (costs, insurance & freight)

Due to the high costs that oil products will attract locally in Nigeria as a result of this new export / import, abroad refining situation and it’s imminent inflationary result on the Nigerian economy. The Nigerian government, decided to take measures by subsiding the price of the projected locally consumed finished oil products in Nigeria with part of the revenue generated from that part which is sold to the rest of the world at prevailing global market price. We all know by now all the constructions of awarding licences to marketers and paying subsidies for products not imported into Nigeria etc.

The situation described above, has negative impact on our local currency, the Naira. In that the costs associated with export / import and refining of crude abroad are paid in USD. Meaning to acquire the USD (forex) needed to fund this process, Nigeria has to sell Naira to the market, and by so doing flooding the exchange market with more Naira in exchange for USD. Simple law of demand and supply, Putting more pressure on the Naira

rifasenate11:
gradually we are getting there.... the system is beyond control.this is what the government wants, they will rather continue to hide the truth. and the truth is building new refineries and upgrading the existing or sell off the refineries to business men who will conviently invest on modernising it. rather they will choose to continue to waste the funds on subsidizing the products on imports. ironically, for crude oil,we have the raw material but we don't have the raw material. I wonder if Nigeria is rigged. rigged by those who are selling us the petrol products. USA is milking Nigeria and that's why they were quick to install this present regime. they pay billions for the crude oil and in turn make the billions back by selling petrol to Nigeria. the past administration started understanding this and the USA picked offence. building a refinery in Nigeria is just as easy as building a block of houses. we have the money but they cannot allow Nigeria to do that. check what will happen to Nigerian economy of we export this petroleum products without importing crude at all. I think government of Nigeria is a puppet to USA. and they continue to feel relaxed being a puppet. I pray that God will give us leaders who will see beyond the billions of dollars being given to Nigeria and look at how strong Nigerian currency will become when we export not only crude oil, but petroleum products too and in a quantity that no other African nation can. our leaders be it whoever needs to see past frolicking with USA, party affiliation,ethnicity ir religious faith and see our real problems,look at what we can achieve if we stand on ourselves.

DonCortino:


here we are thinking that the last government was clueless!

i wonder what this will be called.

LastProphet:
but the US allows Dangote to build one abi? they allow Ghana abi? See if u never learn to accept responsibility you will never progress, always see what you did wrong not others