Meanwhile oil na just like normal river
Corruption make them turn am to gold

Lights up my kpoli in peace

habsydiamond:
Now I know that Nigeria is heading for a slit....development ought to progressive as we are advancing in age... In Nigeria's case we depreciating.. The years of greater achievement in this country was in the early 60s to 80s.. Whars going on with this country... It's only in Nigeria we call in God for social amenities that the govt should provide. I think it's time we wake up and elect people with integrity and with the fear of God to lead us in this country. God fatherism must be shunned cos it's the major why we are stagnant as we are. God bless Nigeria oo

It's the process that produces Nigerian leaders that is the problem and not necessarily the leaders. When we make the process right, the right people would emerge but with the flawed process in place, we'll continue moving from bad to worse.

Mind you, Nigerians don't elect anybody into political positions. The politicians use corruption and violence to get themselves there. It's sad to say, but I don't think Nigeria would ever get it right. Let's tell ourselves the truth. Nigeria is a jungle and if you can't survive it, then you die. Governance in Nigeria would never get better. I'm not praying for Nigeria not to work but when you look at the situation on ground, you'd agree with me.

perkyB:
wahala for motorists

This bros weh use frog cook indomie yesterday don suffer for una hand � �

dacool1:


I'm quite disappointed in your economic analysis MR EDUCATED. When crude price rises our naira should become STRONGER and that should cancel out the so called increase in pump price, you should ask why the naira is becoming weaker when we earn more forex.
The truth is the elites are just greedy lots.

Our naira should become stronger in priniciple

However

1. A lot of our earnings goes to servicing the debts we incurred when oil prices were low and to be frank since 2014 oil prices have been lower than we need it.

Because of our high population and high cost.of extractong crude we need oil to be at 133 dollars per barrel to earn enough for a surplus balanced budget.

2. Also we spend a lot of money subsidising power and petrol. ( If we didnt by now power would have cost 90 per kwh and petrol would have been near the 300 naira mark). That bites into the revenue

3. Also because CBN is saving as much dollars as it can and restricting dollar flow, currency becomes weaker

4.Finally corruption insecurity etc drives off investment

All these impact on the available dollars to bufferthe naira and make it stronger

Godarz:
That's the harsh truth

Either government keeps on subsiding fuel at a heavy cost to our economy, especially depleting our foreign reserves to supply fuel at a cheap price

Or we let marketers sell fuel at tge price they wish to sell it, eventually making fuel refining profitable and possible at home

Keep telling yourself whatsoever comforts you. There is no where in the world where there aren't regulations, kerosene and diesel had been deregulated for years, has the price crashed?

What development can you point at as a result of the previous subsidy removals, at least it has been removed more than twice

dacool1:


Keep telling yourself whatsoever comforts you. There is no where in the world where there aren't regulations, kerosene and diesel had been deregulated for years, has the price crashed?

What development can you point at as a result of the previous subsidy removals, at least it has been removed more than twice

Most refineries produce petrol as a major product

Because prices are subsidised petrol is noy profitable to manufacture in Nigeria.

As a result most of our refineries dont work

Plus there has been no subsidy removal in the past. For there to be subsidy removal

1. Government has to stop controlling or setring the price

2. The price setting mechanism should be in private hands

What has been happening is that government reduces the amount of money it spends on subsidy to a point it can afford. This manifests as price increases

Because these price increases are not market driven..refining petrol is not profitable here

(Most pf the new refineries are.refining diesel and kerosene which are not subsidized)

Fixing the econony requires more than subsidy removals

Godarz:


Our naira should become stronger in priniciple

However

1. A lot of our earnings goes to servicing the debts we incurred when oil prices were low and to be frank since 2014 oil prices have been lower than we need it.

Because of our high population and high cost.of extractong crude we need oil to be at 133 dollars per barrel to earn enough for a surplus balanced budget.

2. Also we spend a lot of money subsidising power and petrol. ( If we didnt by now power would have cost 90 per kwh and petrol would have been near the 300 naira mark). That bites into the revenue

3. Also because CBN is saving as much dollars as it can and restricting dollar flow, currency becomes weaker

4.Finally corruption insecurity etc drives off investment

Thank God you know all these, let the government fix these base problems first before telling us to bear the pains of development, right now, our sacrifice is just to increase the amount that can be embezzled.
Let the elites make sacrifices too. Let the national assembly cut its overhead by 25 to 40 percent then I'll take them serious.

1 Stop borrowing just to steal it. When your income dwindles one should cut his/her overheads.
2. The power sector should be fully deregulated and given to foreign companies like Siemens etc not selling national assets to people who are just their to rip off their customers. Have you ever wondered why they refused the mass metering.

dacool1:


Thank God you know all these, let the government fix these base problems first before telling us to bear the pains of development, right now, our sacrifice is just to increase the amount that can be embezzled.
Let the elites make sacrifices too. Let the national assembly cut its overhead by 25 to 40 percent then I'll take them serious.

1 Stop borrowing just to steal it. When your income dwindles one should cut his/her overheads.
2. The power sector should be fully deregulated and given to foreign companies like Siemens etc not selling national assets to people who are just their to rip off their customers. Have you ever wondered why they refused the mass metering.

1.Borrowing happens with an economy like Nigeria because we are dependent on a raw material whose price we don't control and which we need to sell at a price level that can sustain our huge population

The same issue happens for most African countries

The best way to get out of borrowing is to become an exporter of industrial goods.Because we then manufacture goods whose prices we control


2. Deregulation of the power sector means increased prices for power. So allwong Siemens to come in means long term we pay them the price they set for power.

Which is what we have refused to do for the discos and gencos.

In brief allowing deregulation means allowing price increases. Which from the way you defend fuel subsidy you don't want.

Godarz:


Most refineries produce petrol as a major product

Because prices are subsidised petrol is noy profitable to manufacture in Nigeria.

As a result most of our refineries dont work

Plus there has been no subsidy removal in the past. For there to be subsidy removal

1. Government has to stop controlling or setring the price

2. The price setting mechanism should be in private hands

What has been happening is that government reduces the amount of money it spends on subsidy to a point it can afford. This manifests as price increases

Because these price increases are not market driven..refining petrol is not profitable here

(Most pf the new refineries are.refining diesel and kerosene which are not subsidized)

Fixing the econony requires more than subsidy removals

Our refineries don't work because it's an avenue to siphon our funds.
Dangote made it clear he would be selling at international price
The private business cannot be left unchecked because they will just form a price ring.
It's relatively impossible to refine just diesel and kerosene and not pms.

I'm curious. Where is the petrol from Walter Smith refinery that was commissioned with pomp and pageantry recently.

tyemi4509:
If una like make una sell petrol for #750.
the cane wey dem use flog stepmother go still touch house wife for body.

before 9ja becomes an ambush jungle,please if you have your passport,relocate to republique du benin,there is a town close to cotonou called calavi,its 13km.please you will get a room for 2000 west african cfa upward,and you will asked to pay 3 or 4 months in advance.try and make your research about the town.
why i'm saying this,war start for 9ja before this year runs out.

i don talk my own

Bfr the war start God for don kpeme that Mannequin wey dey Aso rock our Papa Suleiman don talk am so let's stay together bruh

sweerychick:
imagine if this is Jonathan's regime

Dem for they burn the country by now simply blc the man is a true democrat and is too docile to act in there eyes .

KUKU KILL US

But when is the Dangote refinery coming into play?

Dreyton36:
Meanwhile oil na just like normal river
Corruption make them turn am to gold

Lights up my kpoli in peace

Wise man

2mercy:


https://www.vanguardngr.com/2021/02/expect-to-pay-n195-per-litre-for-petrol-marketers-tell-nigerians/

immediately yar adua took over from obasanjo his northern kinsmen pressurized him into cancelling the privatization of the refineries, claiming obasanjo was selling national assets to his political friends, Johnathan tried using original builders of the refineries to turn them around but buhari came n said it was all corruption, revoked the contracts n promise using local manpower to achieve same objective while also denying the subsidy payments, buhari was always questioning how the revenues from oil were used when the price was high, eventually buhari eliminated the subsidy regime after baptizing n renaming it as UNDERECOVERY!, buhari has turn out to be a monumental failure n now the price of oil is picking up internationally,what he has always wish for,but it's all turning out the curse rather than blessings,now I wonder were are those who use to praise yar adua blindly?,has buari gotten the answers to his Incessant questions?,.our only saving grace will be the Dangote refinery n that's if our government will go into a mutual relationship with them when they finally takes off,but frankly I just wonder the kind of person buhari is?.

festacman:
Good and necessary as it may be, FG should SOFT-PEDAL on deregulation and do EVERYTHING and ANYTHING constitutional to make pump price of petrol not to go above the current price. Any significant increase will come with massive increases of prices of consumer goods and services with adverse effects on purchasing power and the economy in general.

Therefore, it is important to maintain status quo while working with Dangote group, BUA Group and other licenced private refineries to fast-track the opening of their refineries to cut off shipping cost, insurance cost and other costs that are associated with importation of refined fuel.

Only then can Nigeria trully gain as OPEC member from crude oil price increases in international market.

The government knows what they are doing,they are laying the foundation for dangote 200naira per litre fuel when he is ready to sell,they don't want him to look bad in the eyes of the people,it is all a game plan by the owners of Nigeria.
They will use Nigeria resources to punish Nigerians.while in other climes the leaders use the country resources to the benefits of the people.

festacman:
Good and necessary as it may be, FG should SOFT-PEDAL on deregulation and do EVERYTHING and ANYTHING constitutional to make pump price of petrol not to go above the current price. Any significant increase will come with massive increases of prices of consumer goods and services with adverse effects on purchasing power and the economy in general.

Therefore, it is important to maintain status quo while working with Dangote group, BUA Group and other licenced private refineries to fast-track the opening of their refineries to cut off shipping cost, insurance cost and other costs that are associated with importation of refined fuel.

Only then can Nigeria trully gain as OPEC member from crude oil price increases in international market.

Which means subsidy as to continue, or else nothing can be done. You see all those ipman and shits, all they waiting for is to feast on deregulation so as to make excess profit. They dont care about d masses.

Deepthoughts:
immediately yar adua took over from obasanjo his northern kinsmen pressurized him into cancelling the privatization of the refineries, claiming obasanjo was selling national assets to his political friends, Johnathan tried using original builders of the refineries to turn them around but buhari came n said it was all corruption, revoked the contracts n promise using local manpower to achieve same objective while also denying the subsidy payments, buhari was always questioning how the revenues from oil were used when the price was high, eventually buhari eliminated the subsidy regime after baptizing n renaming it as UNDERECOVERY!, buhari has turn out to be a monumental failure n now the price of oil is picking up internationally,what he has always wish for,but it's all turning out the curse rather than blessings,now I wonder were are those who use to praise yar adua blindly?,has buari gotten the answers to his Incessant questions?,.our only saving grace will be the Dangote refinery n that's if our government will go into a mutual relationship with them when they finally takes off,but frankly I just wonder the kind of person buhari is?.

Pls stop twisting stories, it was nlc and people like falana who made obasanjo not to sell the refinery to dangote and otedola then. All the people that were given licenses during gej to build refinery, none could even my company then, before the licence were withdraw from them. It's not only BUA or dangote that are building refineries thou they building the larger ones. We have lot of modular refineries coming up in imo, rivers, edo, bayelsa etc. There presently 26 companies building refineries in nigeria sir.


Waltersmith Refining &
Petrochemical
Company Limited
Ibigwe Imo 5,000 Topping Plant ATC Mar-17 NA Construction
completed;
Plant at
Commissioning Stage
2 OPAC Refineries Umuseti, Kwale Delta 7,000 Topping Plant ATR Sep-17 NA Construction
completed;
Plant at
Commissioning Stage
3 Dangote Oil Refinery Company Lekki Free Trade Zone Lagos 500,000 Conversion Plant ATC Dec-17 NA Plant Construction
currently ongoing @
71% completion
4 American Exploration Company
Nigeria Limited
Egboide Delta 21,000 Hydro-skimming Plant LTE Aug-18 Aug-20 Valid
5 Ikwe-Onna Refinery Ltd Ikwe Akwa
Ibom
5,000 Topping Plant ATC Oct-18 Oct-20 Valid
6 Eko Petrochem & Refining
Company
Limited
Tomaro Island Lagos 20,000 Hydro-skimming Plant ATC Dec-18 Dec-20 Valid
7 Petrolex Oil & Gas Limited Ibefun Ijebu,
Odogbolu LGA.
Ogun 20,000 Conversion Plant ATC Dec-18 Dec-20 Valid
8 Edo petrochemical refinery
limited
Ikpoba-Okha L.G.A. Edo 6,000 Hydro-skimming Plant ATC Mar-19 Mar-21 Valid (Construction
Ongoing)
9 Lowrie Refinery Limited Ika North LGA Delta 5,000 Topping plant LTE Jun-19 Jun-21 Valid
10 Excel Exploration & Production Peretorugbene
Community,
Ekeremor L.G.A
Bayelsa 5,000 Topping Plant LTE Jul-19 Jul-21 Valid
11 Conodit Refinery Nigeria Limited Umukwata Delta 20,000 Hydro-skimming Plant ATC Jul-19 Jul-21 Valid
12 Duport Midstream Egbokor, Orhionmwon
L.G.A.
Edo 10,000 Hydro-skimming plant ATC Sep-19 Sep-21 Valid
13 Clairgold Oil & Gas Engineering
Limited
Koko Delta 20,000 Hydro-skimming Plant ATC Dec-19 Dec-21 Valid
14 Ogini Refinery Limited Ogini, Kwale Delta 5,000 Topping Plant LTE Dec-19 Dec-21 Valid
15 Etopo Energy Plc etc

If una like vote PDP or APC come 2023

Keemsleek005:



Which means subsidy as to continue, or else nothing can be done. You see all those ipman and shits, all they waiting for is to feast on deregulation so as to make excess profit. They dont care about d masses.

FG has to find a way out. May be revert to what NNPC call "under-recovery" or something that can be managed with minimal leakage in order to avoid backlash effects of the fuel price increase in the short run.

festacman:


FG has to find a way out. May be revert to what NNPC call "under-recovery" or something that can be managed with minimal leakage in order to avoid backlash effects of the fuel price increase in the short run.

It's either
1) we allow subsidy returns and the fraud in it continues.
2) allow full de regulation of the sector and let the private sector determine the price as the already want to, selling fuel for 190#.
3) we patiently wait for all the refineries to come up and competition starts and price will crash.
The choice is ours.

Keemsleek005:



Pls stop twisting stories, it was nlc and people like falana who made obasanjo not to sell the refinery to dangote and otedola then. All the people that were given licenses during gej to build refinery, none could even my company then, before the licence were withdraw from them. It's not only BUA or dangote that are building refineries thou they building the larger ones. We have lot of modular refineries coming up in imo, rivers, edo, bayelsa etc. There presently 26 companies building refineries in nigeria sir.


Waltersmith Refining &
Petrochemical
Company Limited
Ibigwe Imo 5,000 Topping Plant ATC Mar-17 NA Construction
completed;
Plant at
Commissioning Stage
2 OPAC Refineries Umuseti, Kwale Delta 7,000 Topping Plant ATR Sep-17 NA Construction
completed;
Plant at
Commissioning Stage
3 Dangote Oil Refinery Company Lekki Free Trade Zone Lagos 500,000 Conversion Plant ATC Dec-17 NA Plant Construction
currently ongoing @
71% completion
4 American Exploration Company
Nigeria Limited
Egboide Delta 21,000 Hydro-skimming Plant LTE Aug-18 Aug-20 Valid
5 Ikwe-Onna Refinery Ltd Ikwe Akwa
Ibom
5,000 Topping Plant ATC Oct-18 Oct-20 Valid
6 Eko Petrochem & Refining
Company
Limited
Tomaro Island Lagos 20,000 Hydro-skimming Plant ATC Dec-18 Dec-20 Valid
7 Petrolex Oil & Gas Limited Ibefun Ijebu,
Odogbolu LGA.
Ogun 20,000 Conversion Plant ATC Dec-18 Dec-20 Valid
8 Edo petrochemical refinery
limited
Ikpoba-Okha L.G.A. Edo 6,000 Hydro-skimming Plant ATC Mar-19 Mar-21 Valid (Construction
Ongoing)
9 Lowrie Refinery Limited Ika North LGA Delta 5,000 Topping plant LTE Jun-19 Jun-21 Valid
10 Excel Exploration & Production Peretorugbene
Community,
Ekeremor L.G.A
Bayelsa 5,000 Topping Plant LTE Jul-19 Jul-21 Valid
11 Conodit Refinery Nigeria Limited Umukwata Delta 20,000 Hydro-skimming Plant ATC Jul-19 Jul-21 Valid
12 Duport Midstream Egbokor, Orhionmwon
L.G.A.
Edo 10,000 Hydro-skimming plant ATC Sep-19 Sep-21 Valid
13 Clairgold Oil & Gas Engineering
Limited
Koko Delta 20,000 Hydro-skimming Plant ATC Dec-19 Dec-21 Valid
14 Ogini Refinery Limited Ogini, Kwale Delta 5,000 Topping Plant LTE Dec-19 Dec-21 Valid
15 Etopo Energy Plc etc

Sure the NLC N FALANA n co made some noise but the northerners were very vocal n vehement in their calls,same way they shut down the redecimalization plan of soludo to improve the value of the naira against international currencies n thereby push up the economy,Ghana did same n their currency is much higher than the naira today,if it's true all the refineries you mentioned are in the pipeline then there's hope,but for how long should it take such small refineries to become functional?

Each time I recall how these marketers made Nigerians suffer in the name of "FG is owing us subsidy", any time I remember how people were made to leave their houses as early as 4AM to queue up for petrol, I say let them go out of business.

Leave petrol supply solely to the hands of government.

Independent marketers had a chance to make fuel supply efficient but in typical Nigerian fashion, allowed incompetence and wickedness to take over. If they cannot operate their gas stations, they should sell it to government.

All the times we were made to pay above pump price for fuel, we never got a refund despite the fact FG paid some of that subsidy fraud money to them. You all will pay!

bluefilm:
But when is the Dangote refinery coming into play?

.
It's already in play. Why do you think the price is going up

dacool1:


I'm quite disappointed in your economic analysis MR EDUCATED. When crude price rises our naira should become STRONGER and that should cancel out the so called increase in pump price, you should ask why the naira is becoming weaker when we earn more forex.
The truth is the elites are just greedy lots.

There has to be a thing called Nigeria economics because whether crude oil price goes up or down, the naira becomes weaker.

Muhylonaire007:
Wahala dey o.
Nigerians una Pele o Shebi all of una don dey go register for APC again? Suffer no dey tire you.
195 is small, let's sell for 300naira, Nigerians will buy and they won't speak up, they will still praise the minister of petroleum for his evil work
Cruise Nation

You want fuel free abi? Srnse of entitlement kill you there.
You are free to go to the country that sells less than Nigeria now. Who is holding you down

surgical:
The government knows what they are doing,they are laying the foundation for dangote 200naira per litre fuel when he is ready to sell,they don't want him to look bad in the eyes of the people,it is all a game plan by the owners of Nigeria.
They will use Nigeria resources to punish Nigerians.while in other climes the leaders use the country resources to the benefits of the people.

Tell yourself what ever gives you comfort. Why won't they set the price for N350 or better still N1000/ L if they are laying foundation for Dangote?

Abdogood:
If una like vote PDP or APC come 2023

All these Una 2023 talk is spineless. That time will come and it would be business as usual. The best rigger always wins

wpadmin:
Dear Marketers, if you like increase am go 250....


We will still buy.

You guys don't understand, as an oil producing country, are you supposed to be paying that high in the first place? Anyway what do I know

Deepthoughts:
Sure the NLC N FALANA n co made some noise but the northerners were very vocal n vehement in their calls,same way they shut down the redecimalization plan of soludo to improve the value of the naira against international currencies n thereby push up the economy,Ghana did same n their currency is much higher than the naira today,if it's true all the refineries you mentioned are in the pipeline then there's hope,but for how long should it take such small refineries to become functional?

Am not an economist, so i dont k ow much about redecimalization of the currency by soludo and i believe economist on the group can explain that. Depends on the capacity the refineries and availability of cash will determine the duration of such project also you can see that 2 or 3 are almost completed for commission. Hope u remembered when sim cards first came out it was 10k - 15k and u remembered call rate and 15 box to send sms but today due to competition sim is now 500, sms is 4# thats how it will be, when most of these refineries comes up. Competition will crash the price of fuel and it will become cheaper.

Shey wẹ no go do anything? Na like this we go dey look? ??