usbcable:


Any link one can reference as to building of both refineries?
It will be a nice idea to become an exporter of refined products.

This present situation of a farmer staving while having crops on his farmland is illogical

kennygee:
I'm wondering how he will remove subsidy and reduce pump price.

MKO4ever:


Simple!!!
Make the refineries work

Wildrage:


He is a magician, in 2days time we'd all be spectators in his circus show

Martins301:


Bro am not getting your gist yet. I will appreciate if you can provide credible links to support your postulation. Nigeria's four refineries combined and in different states, have a total installed capacity of about 450,000 bpd. Now you are saying that only two that are yet to be built have a combined capacity of 1 million bpd!

intergral:
Bloody rubbish.......
OP you be enemy of Nigeria...
You did not vote for him now you're try to criticise him even before he gets into office...
Bloody hatter!!...

Martins301:
The easiest way out of these seasonal fuel crises that we face would have been if we were refining our own fuel locally. Instead, we depend largely on fuel refined and imported from overseas. Our new President, Gen. Buhari will certainly face a difficult task in this area if he assumes office. Here are five obstacles that will hinder him in the attempt to stop fuel importation. If the government can sumount them then fine. At least we will make a headway. Here we go:

1. Our refineries are not yet ready. With a refining capacity of over 450,000bpd that cannot even meet our domestic needs and operating at less than 30% mostly due to machine failure, our refineries are just not ready for the task ahead.

2. Government generates revenue from the process. Am talking about the VAT and other charges levied on imported petroleum products. If we stop importing fuel today, there will be a significant drop in government revenue, and if other sources of government revenue remains constant, our budget deficit will rise, debt profile will rise and the future sufferings of Nigerians will rise. Can you accept that?

3. Significant investments have been made into providing facilities for fuel importation. Am talking about the facilities for transporting fuel to Nigeria, those for moving the products from the vessels into storage facilities, those for administration, etc. People invested money into them. Do you think they will be smiling when an attempt is make to cut off their source of income?

4. Fraudulent oil marketers are benefiting from the process. Those who falsify/doctor their documents just to overcharge the government for subsidy, those who cause unnecessary delays in offloading petroleum products just so it can incure demurage, etc. All of them will come together to frustrate any attempt to stop fuel importation just as generator sellers are doing to our electricity generation companies. If you still don't understand, go and read the PwC report.

5. Risk of unemployment. All those people directly or indirectly employed as a result of the fuel importation business will face the risk of losing their jobs. They are among those praying that we should continue to import fuel.

Additions, subtractions and meaningful observations are welcome.


Source: Martin301

Mynd44:
Dangote is building a refinery in Lagos which had a capacity of 400,000 and I hear it is being expanded to 600,000

Oando is building one in Lagos too with a capacity of 400,000. These two when finished will make Nigeria an exporter of refined products whether or not our refineries work but they won't be ready until mid and late 2016 so according to Buhari this is what Nigeria intends to do.

Nigeria will give the amount of crude we need to a country that refines and we get that worth back in refined products and we pay for your refining services and we bring it back to Nigeria to sell.

As for those who built facilities bla bla bla, they knew this day will come. They should deal with it

Johnnoo:
@Op; Your cra.ppy reasons are no issues to incoming government. New refineries will emerge, fraudulent oil marketers will learn their lessons as time goes not (no need mentioning the inevitable ), youths will be gainfully employed. So much so, there are better ways govt can make money other than exploiting her citizenry

Nairalandar:
In two days time, there will be an end to the problems of Nigeria. Corruption will be killed. PHCN will be reborn. Youth unemployment will be a thing of the past. The international oil market will stabilise. The naira will find its level. Petrol will sell for 40 naira per litre.
Halleluyah.
*Can't wait ooo*

pharmadoctor:
BUT AT THE END OF HIS FIRST TERM, WE WILL LOOK BACK AND SAY...'BABA CARRY GO ONCE MORE'

r33d:
Only an irresponsible government will not see a need to stop the importation of refined petroleum products in Nigeria. It is enough problem not to have drinkable water as at when due and to grapple in the dark due to erratic electricity.

freshness2020:
#babaOneChance..

Wildrage:

The major factor militating against local refining is the subsidy regime. If we had done the needful a long time ago instead of adamantly refusing to yield to better reasons , by now a lot of private investors would have taken the risk of investing in the sector. For so long as we refuse to accept the reality, so long will our refineries would remain moribund. We need to sell off the existing refineries as scrap, putting more money into fixing them would continue to be a wasteful exercise with no appreciable economic benefit. Right now, we spend hundreds of millions of dollars every year on turnaround maintenance with no commensurate benefit. Kaduna refinery has never fully worked for one whole month after every maintenance. Those Alhajis intent on making money from bridging always find a way of blowing up the refurbished engines, the nefarious activities of pipeline vandals is another major challenge. Govt should hand off refinery, remove subsidy, encourage private investors with good incentives and with time we'd all begin to enjoy the benefits