chiedu7:
It's an insult that Oil is taken from the Niger Delta & refined elsewhere.

The Niger Delta needs to get its act together.

The Niger delta is not safe, and it is anti investment

You know it, and I know it.

They need to change their "devey" mentality and see how investments will pour in.

Konquest:

^^^^^^
^^^^^^
@obailala

You are ABSOLUTELY RIGHT!

I have my sympathies for the CURRENT APC government because
they at least steered Nigeria out of recession which came as a result of the
massive drop in crude oil price, and have laid the economic foundations
gradually with the completion of road such as the Ilorin-Jebba highway which
previous governments never completed. I saw the Oba of Jebba in Kwara
State thanking the current for completing the road which should ordinarily take
45 minutes to drive from Ilorin to Jebba... and on to Northern Nigeria by driving
across the River Niger at Jebba into Niger State.


The next government at the Federal level will definately become popular when
the 650,000 barrels/day refinery comes on stream. People would subconsciously
tranfer much love to the incoming government.


It is also good that the current government has NOT removed the petroleum subsidy
due to the increase in global oil price after the recession and also during the heavy
winter periods in the Western world. Doing so would have made Nigerians to suffer
more than they are doing now.


Peter Obi was saying during the Vice Presidential Debate that PDP would remove
the petroleum subsidy... but this is VERY UNWISE, just as Vice President Yemi Osinbajo said
because Nigerians would SUFFER more economically with over 200% rise in the cost of good
and services. It baffles me that some people are insulting this government, NOT realising that
the Federal Government is doing Nigerians a favour. The oil subsidy should ONLY BE REMOVED
when Dangote Petrochemical Refinery starts producing from end of April 2019 through to
early 2020!


Several countries had recessions during that period... including some
oil-producing countries and primarily that of Nigeria was caused by insufficient
foreign exchange [FX] in the Central Bank of Nigeria [CBN] to fund imports, so
ultimately OIL & GAS DIVERSIFICATION is the key as the 21st Century
advances!


Read more here: https://www.bbc.com/news/world-35345874
"Falling oil prices: How are countries being affected?"




All the best and Happy 2019!

removing subsidy is unwise? ??

That comment you made alone negates the entire write up you got up there

Cancelling the fraudulent subsidy in Nigeria is one of the major steps we need to take in order for us to move forward.

We have wasted trillions upon trillions of naira that we would have used to build a whole lot for NIGERIA on consumption

ezemme:
none of the plant will start production this year.. mark my word .

Why do you say tha5?

musicwriter:
Dangote will receive a big lesson on neo-colonialism. This would be the worst thing he've ever invested into. I am not saying more than this for now.

Why do you say so?

black man has to take his destiny in his own hands

Neo colonialists can do him nothing as long as he play his cards right

obailala:
Anyone who is president when this project fully comes on stream would have a smooth sail with the economy. And as is usually the case for politicians, the govt then would claim all the glory saying it's their stellar economic policy that's yielding fruits.

It Is surely a project that would have a large impact on the economy positively. This project should come to fruition late next year and by the year 2021 in my estimation, Nigeria will end importation of refined petroleum products. I opine that Nigeria will witness a catalytic development starting from the next 5 years (2024).

chiedu7:
It's an insult that Oil is taken from the Niger Delta & refined elsewhere.

The Niger Delta needs to get its act together.

it's a gradual process.

Ugosample:


Why do you say so?

black man has to take his destiny in his own hands

Neo colonialists can do him nothing as long as he play his cards right

Of course, I wish we take our destiny in our own hands. But this is not cement.

This time, Dangote has stepped into the territory of those who literally run the world. If they want, they'll remove him out of business, the same way himself remove others from business by crashing cement price to out-compete his rivals when it is expedient for him.

The CAPITALIST forces he'll be up against are wealthier than him, in fact, wealthier than Nigeria. They stretch all the way from Nigeria to Washington to London to Paris.

I wish him good luck.

Ugosample:


removing subsidy is unwise? ??

That comment you made alone negates the entire write up you got up there

Cancelling the fraudulent subsidy in Nigeria is one of the major steps we need to take in order for us to move forward.

We have wasted trillions upon trillions of naira that we would have used to build a whole lot for NIGERIA on consumption

^^^^^^
^^^^^^

Hi Ugosample! Please read my post again.

I'm in SUPPORT of the removal of the fuel subsidy on
the completion of the Dangote Refinery in 2019/2020
as indicated in my post!

I didn't say the removal of fuel subsidy is unwise. I said the
removal RIGHT NOW would be unwise because it
would lead to massive inflation and that would
lead to serious economic hardship for the citizens
of Nigeria. A serious social revolt/riots with serious unintended
consequences would evolve from any government
that does so. The fuel subsidy has acted as an
economic cushion for the vast majority of low-
income Nigerians.

Subsidies are NOT bad as countries in the
Western world, China and more have all kinds of
subsidies to maintain economic and social
stability in their various countries.


I absolutely agree with YOU that over the years,
trillions have been spent/wasted that could have been
used to build new refineries.


Starting with the military era of IBB, Abacha and
even the first 16 years of democracy, the 4 major
refineries did not undergo regular TAM or
Turn-Around-Maintainance which is supposed to be
done every 2 years, and so this led to the needless
importations in a country that produces crude oil
onshore and offshore.


All the best!

Konquest:
^^^^^^ ^^^^^^
Hi Ugosample! Please read my post again.
I'm in SUPPORT of the removal of the fuel subsidy on the completion of the Dangote Refinery in 2019/2020 as indicated in my post!
I didn't say the removal of fuel subsidy is unwise. I said the removal RIGHT NOW would be unwise because it would lead to massive inflation and that would lead to serious economic hardship for the citizens of Nigeria. A serious social revolt/riots with serious unintended consequences would evolve from any government that does so. The fuel subsidy has acted as an economic cushion for the vast majority of low- income Nigerians.
Subsidies are NOT bad as countries in the Western world, China and more have all kinds of subsidies to maintain economic and social stability in their various countries.

I absolutely agree with YOU that over the years, trillions have been spent/wasted that could have been used to build new refineries.

Starting with the military era of IBB, Abacha and even the first 16 years of democracy, the 4 major refineries did not undergo regular TAM or Turn-Around-Maintainance which is supposed to be done every 2 years, and so this led to the needless importations in a country that produces crude oil onshore and offshore.

All the best!

.If that is the case
then it's ok
subsidy MUST GO

natznext:


Sir, The 650k is to be refined

The 2m current output is being sold unrefined

So it's either he gets his 650kbpd from the current 2m bpd or gets his crude from somewhere else

^^^^^
^^^^^
You're right... Dangote has already signed deals
with Trafigura and other international crude oil traders
to supply feedstock for the refinery in addition to the
feedstock that would be got from Nigeria.


Thanks for contributing!

quentin06:
this is it, get ready to pay as much as 400 per litre of fuel, this might be a good time to dump your gas guzzling v6 suvs and cars and go for a 1.3 nissan micra or keke.

^^^^^
^^^^^
... @quentin06

No... Pump price per litre of fuel will drop to N50 to N60
because the refinery is based in Nigeria.

N400 per litre is way too much.

Heavance:


please someone should explain this..... presently, have we stopped exporting?

^^^^
^^^^
Hi Heavance !

Emefiele is referring to the export of REFINED
Petroleum products instead of the export of
Unrefined crude oil that is taking place as of
now.

Nigeria used to be a major exporter of REFINED
Petroleum products after satisfyingly the Nigerian
market in the 1980s when Shagari and General
Muhammadu Buhari were President and Head of State respectively. It was from the corrupt IBB era that the refineries got destroyed to pave the way for
brazen importation of refined petroleum-based
products from abroad.

I hope this helps?