adenigga:

https://m.punchng.com/News/FG-set-to-go-ahead-with-$1.5bn-refinery-revamp-despite-criticisms

triple996:
what is wrong with Nigerians self
if they have not built anything you guys will complain . they are trying to get our rifinary working you are still complaining. is it not the 9ja Delta that is complaining of marginalization especially about the non working refinaries. now that government is planning make them functional again, you guys are still complaining.
chaii

Racoon:
Yes it will because as @ ystdy released report "The government-owned refineries, being run by the Nigerian National Petroleum Corporation, reported a total loss of N778.71bn from 2015 to 2019, an analysis of data collated from their financial statements has shown.The refineries generated total revenue of N21.12bn in the five-year period as they operated at below their full capacities..."
https://m.punchng.com/Business/FG-refineries-earn-N21bn-lose-N778bn-in-five-years

About 21B revenue was generated while a whooping 779B wastage were incurred under five years of your demigod being the minister of petroleum.As I asked your brother cum comarade-Mannabbqgrill that he failed to respond ystdy.

So, now can you give us answers how this putrifying corruption took place under the leadership of your maigaskia president as minister of petroleum within five years yet our moribund refineries are still operating @ a far below full operational capacity Sirjamo? Or you're still done talking with your usual trademark signature?

Akaujaa:
Obasanjo and Atiku stole $16 billion power fund and till today, nobody talks about it. Now, Buhari wants to fix refinery with $1.5 billion dollars, everybody is making noise. Haters!

Subsidybad21:


What's bad about reviving a refinery?.

It is if they spend the money, and nothing happens that you can call them bad.

Okoroawusa:
I Love PMB

Go on sir...if you can't finish the rehabilitation, Osinbajo will finish it when he takes over in 2023.

triple996:
what is wrong with Nigerians self
if they have not built anything you guys will complain . they are trying to get our rifinary working you are still complaining. is it not the 9ja Delta that is complaining of marginalization especially about the non working refinaries. now that government is planning make them functional again, you guys are still complaining.
chaii

what is wrong with Nigerians self
if they have not built anything you guys will complain . they are trying to get our rifinary working you are still complaining. is it not the 9ja Delta that is complaining of marginalization especially about the non working refinaries. now that government is planning make them functional again, you guys are still complaining.
chaii

sulaak:


The government and people doing the reviving.

Will you trust an organisation like NNPC that wasted N771 billion over a 5 years period on maintenance for a profit of N21bn

Subsidybad21:


1.Dangote's refinery is being built with $9 billion, $3 BILLION from Dangote's pocket, the remaining $6 billion from banks, who if the refinery fails, take over Dangote's remaining assets to get their money back.

2.FG does not have $9 billion to spare. That's one quarter of our reserves (CBN would scream if anyone touches the reserves) and nearly 1/3 rd of our budget. Oil prices are too low for us to earn enough income. And who is going to give a loss making corrupt venture like NNPC a loan?

oyejideogunjumo:

I quite understand that successive governments has failed this nation.
There has been infrasturectural neglect.
It is absord that a country like Nigeria will at this stage depend and rely on refined oil importation to survive at 61.
If all retrieved assets and looted money recovered has been diversified to building at leas one refinery things will be different.
As we have it now, nothing works. Everything is left halfway.
Education, transportation,power, health etc.
If a government cam handle just one successfully,subsequent governments to also face one and complete it, within 10-20 years things will normalize but as we have it now ,no sector is working.
For how long?
If care is not taking it will be degenerating because the entire world is sick now but developed countries are still better because some people laid the foundation
When will ours be laid?
Who will lay it?
How long?
We haven't started at all

oyejideogunjumo:

I quite understand that successive governments has failed this nation.
There has been infrasturectural neglect.
It is absord that a country like Nigeria will at this stage depend and rely on refined oil importation to survive at 61.
If all retrieved assets and looted money recovered has been diversified to building at leas one refinery things will be different.
As we have it now, nothing works. Everything is left halfway.
Education, transportation,power, health etc.
If a government cam handle just one successfully,subsequent governments to also face one and complete it, within 10-20 years things will normalize but as we have it now ,no sector is working.
For how long?
If care is not taking it will be degenerating because the entire world is sick now but developed countries are still better because some people laid the foundation
When will ours be laid?
Who will lay it?
How long?
We haven't started at all

Subsidybad21:


It isn't just building a refinery...it is allowing the refinery to be profitable.

All our refinereis failed because they were not allowed to run at a profit, and because workers were paid whehter the thing ran well or not.

And the reason why they are not running at a profit is because Nigerians want cheap fuel

triple996:
what is wrong with Nigerians self
if they have not built anything you guys will complain . they are trying to get our rifinary working you are still complaining. is it not the 9ja Delta that is complaining of marginalization especially about the non working refinaries. now that government is planning make them functional again, you guys are still complaining.
chaii

oyejideogunjumo:

Nigerians are entitled to their God-given resources, fuel at cheaper rate.

Our neighbouring countries depend on our fuel for survival

It is corruption that is the bane of our problem.
Other countries have working refineries and no problem.

When last was NNPC audited?
Those who collapsed the refinery, were they tried?

Can NNPC tell us the cost of producing a litre of petrol then we can fix the price adequately

We may try PPP (Public-Private Partnership) if it will work.

During the era of subsidy subsidized fuel will be driven across the border to be sold at exorbitant price making double profit home here and outside

Let death penalty be for saboteurs like China and other Orient countries.
Something has to be done.
We can't just continue this way

May God send us a messiah

triple996:
what is wrong with Nigerians self if they have not built anything you guys will complain . they are trying to get our rifinary working you are still complaining. is it not the 9ja Delta that is complaining of marginalization especially about the non working refinaries. now that government is planning make them functional again, you guys are still complaining. Chaii

Subsidybad21:


Chad and Niger both have oil, and fuel there sells for N350 per liter.

We also produce food, yet if we sold food below what it cost the famer to produce it, and what it cost the trader to bring it, both would be bankrupt

We have been bankrupting our fuel industry because cheap fuel. We lsot N4 trillion to keep fuel at N87 per liter. Money that could have been used to build refiniery

If you force refiners to sell at a loss in the name of cheap fuel, you get broken down refinereis.



At our expesne. Nigeria has lost billions to fuel smuggling.
.


Niger has a working refinery because people there pay N350 for fuel. No subsidy. Refinery makes enough of a profit to keep running well.
Nigeria won't do the same



Refinereis failed because we sold fuel below what it cost to make it.



It would have been N165 in 2018 (when fuel was costing N145 per liter).


And it will fail because we still subsidise and control the price of fuel. Niger does PPP for its single refinery, and they charge proper prices to MAKE A PRFIT keep it running...NOT n162 PER LITER...n350 PER LITER....and Lord knows they are poorer than us.



And it still continues because we won't allow them to set their price like opther businessmen
.


And that is a nice way to drive off investment, and to make it even more dififcult to make a prpfit to keep refinerieis running.

PLus China is a capitalist country. They charge heavily for fuel there..


You are the one who can save Nigeria. Run for office.

Subsidybad21:


It isn't just building a refinery...it is allowing the refinery to be profitable. All our refinereis failed because they were not allowed to run at a profit, and because workers were paid whehter the thing ran well or not. And the reason why they are not running at a profit is because Nigerians want cheap fuel