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Stats: 1,420,333 members, 2,293,962 topics. Date: Friday, 28 August 2015 at 01:14 AM
|Politics / Re: Buhari Declares War On Igbos, Stops Construction Of Second Niger Bridge by Duru1(m): 12:50am|
Are you a dumbass fool? How does the bridge across River Niger belong to Ndiigbo. Most Nigerians are intellectually bankrupted.
|Education / Re: Unilorin Utme 2015/2016 Aspirants by Yungmilio2(m): 12:50am|
|Romance / Re: is he flirting with me or what? Weired by IamLEGEND1: 12:50am|
on the dark side we dont really give a fûck.besides,i see you are gradually sliding towards our direction.....
verily i say unto thee,you will soon be one of us.
and badt man has been more dan awesome,diz fulani chicks sure do know how to swerve it.
|Nairaland / General / Re: Buharis Impartial Appointments Again SGF, Chief Of Staff, Others To North by ebubemicky(m): 12:49am|
I swear na northerns go use there hands divided this country. For them they are having fun 4geting that other regions are watching nd will feel cheated in a country that we all own. Nigeria is not for the northerns alone
|Politics / Buhari Approves 65 Licences For Private Refineries by honeywealth75(m): 12:49am|
President Muhammadu Buhari has granted licences to 65 Nigerian companies to construct modular refineries.
The companies were selected from about 285 applications that were screened for the purpose.
Modular refineries are mini-refineries with capacities ranging from 1,000 to 10,000 barrels per day, bpd, which can be assembled and separated easily for enhanced performance and efficiency.
President Muhammadu Buhari
The decision to award Licence to Establish, LTE, which was taken within 10 days of his assuming office in June, may not be unconnected with his desire to see the increase in domestic refining capacity to meet local demand, thereby reducing huge import bills for subsidy.
Although the Department of Petroleum Resources, DPR, the industry regulator, feigned ignorance of the development, one of the beneficiary companies confirmed to Vanguard that the measure is also meant to cushion the impact of crashing oil prices at the international market.
The shock is not only in the period the approvals were given, but also in the numbers granted considering the fact that 18 LTEs were granted in 2002, but only one of them had come on stream with just 1,000 barrels per day, bpd, capacity.
The refinery is operated by Niger Delta Petroleum Resources, NDPR, which produces only automotive gas oil, AGO, popularly called diesel.
How approvals were granted
Chief Executive officer of the beneficiary company, who spoke in confidence, said the number was not unilateral, but “the mop up of all applications for private refining since 2007.”
He admitted that the process took a period of six months, dating back to former President, Goodluck Jonathan’s administration, adding “the process was rigorous as they looked at many issues including, land, investment, technical competence, design and a host of many others.”
He added that licences were offered on a two-year tenure, after which it will elapse, and that “the beauty of these awards is that there was no lobbying, as the whole exercise followed due process.”
In his opinion, there is nothing wrong with the high number of awardees, arguing that “for a country like Nigeria, the more in-country capacity, the better for us, because in a falling oil price regime, the more you refine, the more value you add and the more revenue you earn from your crude.”
A top management staff of DPR, when contacted, simply told Vanguard on telephone: “I am not aware of any such huge approval.”
When prodded further, he added: “What I know is that DPR recently released guidelines for the establishment of refineries, and we had road shows in Lagos, Port Harcourt and Abuja, to sensitise investors.”
Ordinarily, there are three levels of approval for setting up private greenfield (new) or modular refineries in the country.
They are Approval to Establish, LTE; Approval to Construct, ATC, and Licence to Operate, LTO.
An investor must overcome the requirements in each level of approval before proceeding to the next, as shown in the guidelines.
DPR had explained that the guidelines for the establishment of modular refineries in Nigeria was configured with the aim of shortening the approval time for licensing of refineries.
To woo investors to the project, DPR also reduced the licensing fee for new refineries from $1 million to $50,000. Government is desirous of refining at least 50 percent of its crude output in-country, not only to reduce import dependence, but also be an exporter of refined petroleum products.
Also confirming the development, a petroleum expert from the Emerald Energy Institute, University of Port Harcourt, Profesor Chijioke Nwaozuzu, said he was more concerned with the challenges for establishing such refineries.
According to him, such challenges are tied to political, land, funding, crude feedstock and market availability.
He said: “These refineries are going to be located mainly in the Niger Delta, and the state governments may want to get involved because it is a high revenue earner, which grants only 28 days credit cycle.
“Also, refinery requires huge land, and there may be issues with acquisition from the land owners and to cap it all, refinery of any capacity requires huge capital. You need at least $30,000 per barrel, which is a huge sum even for a 1,000kbpd refinery.”
Feedstock… as in power sector
Furthermore, he noted that if Federal Government does not guarantee feedstock for those who complete the approval cycle, Nigeria may have a repeat of what happened with the initial 18 licences granted in the past.
Nwaozuzu, urged government to guarantee feedstock to the refineries, as it is doing with the existing 445,000 combined capacity four refineries, in addition to also guaranteeing the off-take of the products for the local market.
|Fashion / Re: Cheap And Quality Ankara Fabrics For Aso Ebi,boutique Owners,nd Wholesalers by 5tss(f): 12:49am|
|Religion / Re: Was Hitler A Christian? by Ubenedictus(m): 12:49am|
OLAADEGBU:that is NOT what Jesus said!
Go back and get ur bible! He said,
"recieve the Holyspirit, whosoever sins you forgive are forgiven, whosoever sins you retain are retain" very simple do not try to change it.
|Romance / Re: When She Says No by Boyooosa: 12:49am|
EroticAngelina:Our joy is inside u
|Politics / Re: Biafra An Online Country by WailingWailer00(m): 12:49am|
My only anger is how the matter affects the glory and blessings of the OP, yellowbar demons, what do you want from the igbos? It's only when you guys are online you open your ewedu mouth to spew trash, when it's physical una go run just like cowards that your fathers are
|Politics / Re: Finally, Buhari Rewards Hon. Suleiman A. Kawu With Appointment.. Profile Inside by agabaI23(m): 12:49am|
|Business / Re: Shoprite In Amuwo Odofin, Lagos Patronised By Many People (photos) by EbolaParasite: 12:49am|
Firstly, i shop at walmart every other day so i am well familiar with the low prices. I used china as an example so you would understand what happens when they enter a new territory with a different culture and mentality. Why do you think it took walmart so long to enter naija? It is not about the low prices. IT IS ABOUT THE ITEMS THEY DELL AT THOSE LOW PRICES. Read the walmart experience in China and you will understand better. Shoprite is ahead of them when it comes to Nigeria. Nigeria is virgin territory for walmart and you cant compare doing business in Nigeria with other places. Time will tell. Let them enter and see what happens
By the way, why didnt KFC overtake the najor eateries we have in Nigeria? Aren't they bigger than the local ones in Nigeria? Did anybody teach them before they started selling jollof?
|Phones / Re: Photos: A Former Apple CEO Just Launched Two New Android Phones by Kizyte(m): 12:49am|
@Op, did you say Obi?
|Properties / Re: Off-topic Thread - To Discuss Anything And Everything (Building Constructions) by mufutau55(m): 12:48am|
I wasn't that scared o. If it could save me money on the decking and save I would have gone for it.
But Abdulwastecx whom I trust to do it is very busy in East and North to come to Lagos, and I don't know anyone else I could trust or anyone that ever even mentioned that "clay ribbed slab" to me. Also as a poor man, taking risk with new implementation without engaging a good professional is not easy, it's costly to fix anything than to construct it. Those are my dilemma. The decking is still not done yet anyway.
|Romance / Re: is he flirting with me or what? Weired by IneedASUGARMUMMY: 12:48am|
Just imagine how they turned this place to a chat room.
|Education / Re: Unilag Foundation Programme 2015/2016 Thread(Form closes August 21) by damselsupo: 12:48am|
Pls who used the online practice test here?
|Food / Re: Man Finds Dead Rat In Grilled Full Chicken He Purchased...(pics) by 4everisaac(m): 12:48am|
Do we still have vegetarians? Meat is 'affordable' these days.
|Romance / Re: How Does One Politely Turn Down A Crush From A Female ? by Starships4u(m): 12:48am|
|Romance / Re: Enter Here And Get 1gb Free Airtel Users Working In All Sim by trendsng: 12:48am|
|Politics / Re: If Presidential Election Is To Be Re-conducted Today Will You Still Vote PMB? by otr1(m): 12:48am|
...yes...over and over again.
|Fashion / Cheap And Quality Ankara Fabrics For Aso Ebi,boutique Owners,nd Wholesalers by 5tss(f): 12:48am|
It's a non fading ankara fabric direct from Ghana not the Chinese ones that are everywhere o.its sold for 4k to 4500 some people even sell for 5k.it depends on ur area nd who u sell to determines how much u want to sell ur own but I will b selling mine for 2900 for u to resell nd also for people that needs aso ebi 4 parties So, I will b posting some unique designs for u to see,u tell me d one u want then we take it from there.serious buyers pls. NOTE:the reason why I said it's for wholesalers is because of the price.Am making a very little gain from each fabric so it pays if u buy in quantity not a piece.Am sorry biko thanks So let's get started Watsapp 08063238801 email:email@example.com
|Investment / Make millions on NSE from following weekly StearsReport by stears: 12:48am|
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Any business, economic or finance related Nigerian topic can be addressed and analysed by Stears. It is an improvement on the current state of Nigerian newspapers
|Business / Re: MERRYBET Football(+ Other Sports) Betting Season 9 by coolest01(m): 12:48am|
A "triple" system bet rocks.
If your can produce 4 probable events of odds between 1.2-1.30, u'll succeed.
Cos even if u lose one event, u get about half of your Stake back
|Travel / Re: Travelling To Canada Part 9 by Howoheye(m): 12:48am|
|Culture / Re: Hilarious "ISHAN" Adage And Their Meanings by osazeeblue01(m): 12:48am|
[quote author=bilulu post=37406735]
u re wrong...... its not d spelling but d pronunciation...... d op is correct[/quote ESANGBEDO
|Agriculture / Re: Picture: My Layers Chickens Lay Eggs With Two Yolks.. by Adeoba10(m): 12:48am|
One of d abnormalities in poultry... Such egg cant hatch to produce DOC,...
|Romance / Re: Ladies, Here Is What You Should Do If Your Man Refuses To Propose by fajani(m): 12:48am|
ladyF:IT IS LADY F AGAIN
|Celebrities / Re: No Mass-com In Unad; Skiibii Where Did You Get Your Degree From by trapQ: 12:47am|
not really. I just got done packing. I'm leaving for Lagos today
|Politics / Re: The Igbo People Buhari Would have trusted died in the Civil War. by LongPennis(m): 12:47am|
So, if Buhari never had anything to do with you personally in the past, he won't work with you abi?
What happens to recommendations? What happens to public dossiers?
NAIJA is in for a long thing seriously.
|Travel / Re: General Australian Visa Enquiries Part 2 by NNBB2012: 12:47am|
Sorry, I really do not know how it works. If I have your email, I would drop you a mail.
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