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It’s Cheaper To Import Petrol Than Refine Locally — Kachikwu - Politics - Nairaland

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It’s Cheaper To Import Petrol Than Refine Locally — Kachikwu by crownwealth: 9:15pm On Mar 14, 2016
The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has said that at the moment, importing Premium Motor Spirit, PMS, also known as petrol, is cheaper than producing the product in the country’s refineries.

Addressing newsmen in Abuja, Kachikwu disclosed that until the upgrade and total refurbishment of the refineries are concluded, as well as ensuring that the pipelines are fixed, it would be uneconomic and very expensive to refine PMS locally.

He maintained that local refining of PMS would make much more economic sense if all the refineries undergo full set of repairs and Turn-Around Maintenance, TAM, and when new refineries are set up in the country through co-locative initiative. He said: “Most modern refineries are configured in such a way that your stock of PMS outage is a lot higher, 70 to 80 per cent. So when we do import the product, we actually save money; we get it less expensive than when we do it here.

“But having said that, the reality is that until we have alternatives in terms of co-locative refineries which we are looking at; until we finish the total refurbishment to improve and upgrade the refineries, it does not make sense to use it with some of the deficiencies. “This is because distribution is key.

If you have product in Kaduna for example, pumping into the north becomes easy as opposed to moving, as we do whenever we have a crisis – trucks all the way from Lagos and Oghara, out to the north.” Kachikwu further noted that even if the current set of refineries were working on a 100 per cent basis, they would only be able to account for 20 million litres of PMS per day, about 50 per cent of the country’s total consumption.

This means that the country would still resort to importation to meet up with the shortfall. He said: “The way the refineries are configured right now, and until a full set of repairs and TAM are done, they are configured on the basis of 50 per cent of PMS and 50 per cent other products.

So even if they were producing on a 100 per cent basis, which they are nowhere near producing right now, PMS output would be less than 20 million litres. Our consumption is closer to 40 million. So we will still have, literarily, 50 per cent gap.”

http://www.vanguardngr.com/2016/03/its-cheaper-to-import-petrol-than-refine-locally-kachikwu/

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Re: It’s Cheaper To Import Petrol Than Refine Locally — Kachikwu by obasiken: 9:17pm On Mar 14, 2016
Is this the kind of utterances that should be made by a minister of Nigeria? Instead of him to be thinking of a way to make production of PMS cheaper in Nigeria he has already admitted failure. This is why APC is failing cos they are PESSIMISTS.

182 Likes 13 Shares

Re: It’s Cheaper To Import Petrol Than Refine Locally — Kachikwu by oduastates: 9:24pm On Mar 14, 2016
Obasanjo sold those refineries for scrap .
Rightfully so.
Yaradua took them back .
Since then , they have not worked but the amount of money spent on them during the locust years of transformation agenda ,is enough to build 3 or 4 brand new refineries .

82 Likes 2 Shares

Re: It’s Cheaper To Import Petrol Than Refine Locally — Kachikwu by OZAOEKPE(m): 9:26pm On Mar 14, 2016
PMB JUST THEY VIOLATE EVERY PRINCIPLES OF ECONOMICS, HE IS TOO D A F T TO RULE A NATION AS NIGERIA.

132 Likes 7 Shares

Re: It’s Cheaper To Import Petrol Than Refine Locally — Kachikwu by crownwealth: 9:26pm On Mar 14, 2016
Behold Nigerians, another APC failed propaganda to "Revive and reactivate our minimally performing Refineries to optimum capacity"

The minister already accepted defeat in the face of adversity and shortage of petroleum product across the country embarassed

Lalasticlala, Nigeria needs divine intervention.

Henceforth, the military should stop the senseless bombing of local refineries in the creek and regulate same to acceptable standard.

66 Likes 6 Shares

Re: It’s Cheaper To Import Petrol Than Refine Locally — Kachikwu by luvinhubby(m): 9:30pm On Mar 14, 2016
These people keeps complicating things for Nigerians at the same time showing the level of confusion that pervades the entire Buhari & APC administration.

lipsrsealed

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Re: It’s Cheaper To Import Petrol Than Refine Locally — Kachikwu by crownwealth: 9:32pm On Mar 14, 2016
luvinhubby:
These people keeps complicating things for Nigerians at the same time showing the level of confusion that pervades the entire Buhari & APC administration.

lipsrsealed

This administration is confused.

68 Likes 5 Shares

Re: It’s Cheaper To Import Petrol Than Refine Locally — Kachikwu by Controversialad: 9:35pm On Mar 14, 2016
EFCC ONLY HUNTS THOSE WHO ARE NOT LOYAL: The case of Enugu secretariate Fund Mismanagement

Governor Ifeanyi Ugwuanyi, after inspecting the edifice recently, said he was not happy with what he saw. From outside, the buildings look every bit like masterpieces but their interiors are far from measuring up to their outer beauty.


Afam Okereke published this on his blog in 2013
THINGS YOU SHOULD KNOW ABOUT ENUGU

The award for the construction of the New Enugu State Secretariat was granted to Arab Contractors in October 2012
The project sum is N13.6 billion
About 1000 sub-contractors from wholly owned Nigerian companies are involved in the project from different parts of Nigeria
Structure-wise: the New Enugu State Secretariat project contains four complexes (A/B,C/D)
Structure-wise: Each of the four complexes contain the following number of structures:
A- 3 structures
B- 3 structures
C- 5 structures
D- 2 structures
About 1000 Enugu state indegenes are currently being employed for the project
At present, the project is 60% complete and has just 4 stages left which include:
Plastering
Tiling
Plumbing
Painting
The New Secretariat will be officially handed over to the State Government by the contractors on or before November 2014

Posted by Afam Okereke at 06:29


In 2015 The Nation's Newspaper published this too..
Enugu’s new secretariat and Gov Ugwuanyi’s dilemma

Governor Ifeanyi Ugwuanyi, after inspecting the edifice recently, said he was not happy with what he saw. From outside, the buildings look every bit like masterpieces but their interiors are far from measuring up to their outer beauty.


Ugwuanyi then decided to approve the sum of N260 million for necessary corrections and provision of some missing facilities. The approval was made penultimate week during the state executive council meeting. The amount is meant to take care of the first phase of the provision of electricity and toilets in the edifice.


But the move has sparked protests among concerned indigenes who believe that the project has consumed far more than its fair share of the state’s resources after the billions expended on it by the previous administration. Petitions have also been written to the Economic and Financial Crimes Commission (EFCC) regarding the execution of the project.
Read more at http://www.controversialada.com/2016/03/effc-is-political-but-toothless-buldog.html

4 Likes

Re: It’s Cheaper To Import Petrol Than Refine Locally — Kachikwu by Sunofgod(m): 9:35pm On Mar 14, 2016
I suspect imported rice is also cheaper than locally made...........and tastier!

53 Likes 4 Shares

Re: It’s Cheaper To Import Petrol Than Refine Locally — Kachikwu by egalitarian78: 9:36pm On Mar 14, 2016
The only brand ambassador of this admin, d only shining star in d cabinet and one whose cognate experience stood tall among others has suddenly been infected with d APCmaniac syndrome; a congenital abnormality pathogmonic with APC govt which affects dia sense of reasoning and judgement with its attendant denials, CHANGE of promises and policy somersault. We are all wailing hoping dat soon our refineries will start full operations with its attendant benefits but this my respectable Minister has just dashed such thought. What d masses were expecting dat d Apc govt was to cast out d spell dat has made it impossible for Nigeria to refine at home but here are they giving up without a fight. Honestly, leadership is quite different from politics. Mr Jonathan will be some where laughing out loud or possibly on NL here with a coded moniker.

60 Likes 3 Shares

Re: It’s Cheaper To Import Petrol Than Refine Locally — Kachikwu by crownwealth: 9:48pm On Mar 14, 2016
Time to begin mass protest against this fraudulent government.

48 Likes 5 Shares

Re: It’s Cheaper To Import Petrol Than Refine Locally — Kachikwu by drss(m): 9:51pm On Mar 14, 2016
nigeria's economic problems is beyond buari dullard. - liar mohammed.
hahahahahahahahahahahhahahahahahahahahahhahahahahhahahahahahahahahahaha!!!!!!! their eye don dey clear!!! grin

43 Likes 4 Shares

Re: It’s Cheaper To Import Petrol Than Refine Locally — Kachikwu by drkay(m): 9:55pm On Mar 14, 2016
Am beginning to look beyond this administration, why does he have to utter such depressing sentences even if he's saying the truth.

8 Likes 1 Share

Re: It’s Cheaper To Import Petrol Than Refine Locally — Kachikwu by dunkem21(m): 9:57pm On Mar 14, 2016
grin Click like if you think its OK to import petrol ..


Share if you feel we should encourage our local refineries ..

1 Like 28 Shares

Re: It’s Cheaper To Import Petrol Than Refine Locally — Kachikwu by drss(m): 9:57pm On Mar 14, 2016
oduastates:
Obasanjo sold those refineries for scrap .
Rightfully so.
Yaradua took them back .
Since then , they have not worked but the amount of money spent on them during the locust years of transformation agenda ,is enough to build 3 or 4 brand new refineries .
do u now see why OBJ sold d refineris but only to be reversed by yar adua, n why GEJ tried to abolish fuel subsidy to pave way for private sector build refineries but was attacked by ojota dancers deziani herself recommended dat nigeria's refineries should be sold off but was brutaly opposed by a.boki machinery. hope u see why a.bo.ki economics no good for una
d zoo refineries ar just condemned metal scraps.

88 Likes 8 Shares

Re: It’s Cheaper To Import Petrol Than Refine Locally — Kachikwu by naijagobetter(m): 9:58pm On Mar 14, 2016
i hate to say it two steps forward three steps backward, which way my beloveth country?

7 Likes 1 Share

Re: It’s Cheaper To Import Petrol Than Refine Locally — Kachikwu by crownwealth: 10:00pm On Mar 14, 2016
drkay:
Am beginning to look beyond this administration, why does he have to utter such depressing sentences even if he's saying the truth.

I presume they are all acting and misbehaving under an invisible hand.

6 Likes

Re: It’s Cheaper To Import Petrol Than Refine Locally — Kachikwu by crownwealth: 10:02pm On Mar 14, 2016
dunkem21:
grin Click like if you think its OK to import petrol ..


Share if you feel we should encourage our local refineries ..

MBuhari is peaching made in Nigeria. They should fulfill part of their campaign promises.

24 Likes 5 Shares

Re: It’s Cheaper To Import Petrol Than Refine Locally — Kachikwu by 5starmilitant: 10:22pm On Mar 14, 2016
Incompetency written all over this government. Just imagine that embarrassing statement from that lazy minister.




Tufiakwa

22 Likes 2 Shares

Re: It’s Cheaper To Import Petrol Than Refine Locally — Kachikwu by Cre8(m): 10:22pm On Mar 14, 2016
what

1 Like

Re: It’s Cheaper To Import Petrol Than Refine Locally — Kachikwu by looseweight: 10:23pm On Mar 14, 2016
Woow

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Re: It’s Cheaper To Import Petrol Than Refine Locally — Kachikwu by VocalWalls: 10:23pm On Mar 14, 2016
But when I want to buy a Mercedes-Benz... It becomes a crime to the naira...

Oniranu.

21 Likes 2 Shares

Re: It’s Cheaper To Import Petrol Than Refine Locally — Kachikwu by thefakestan: 10:24pm On Mar 14, 2016
Oga Pet. Minister the way u r changing mouth em!


Just now u said 18 months no more importation,

Now u saying another thing


ThefakeStan

43 Likes 3 Shares

Re: It’s Cheaper To Import Petrol Than Refine Locally — Kachikwu by crownwealth: 10:24pm On Mar 14, 2016
VocalWalls:
But when I want to buy a Mercedes-Benz... It becomes a crime to the naira...

Oniranu.

Awon Oniranu bi ogbon awe'

thefakestan:
Oga Pet. Minister the way u r changing mouth em!


Just now u said 18 months no more importation,

Now u saying another thing


ThefakeStan

You go fear lies and propaganda from APC government.

Chai, Nigerians don enter one once govt. oooo

23 Likes 1 Share

Re: It’s Cheaper To Import Petrol Than Refine Locally — Kachikwu by VocalWalls: 10:24pm On Mar 14, 2016
You better regulate local refineries and stop being a jerk.

6 Likes

Re: It’s Cheaper To Import Petrol Than Refine Locally — Kachikwu by Lordtrillion(m): 10:24pm On Mar 14, 2016
Hmm, So na now una just dey wake up to reality undecided

6 Likes 1 Share

Re: It’s Cheaper To Import Petrol Than Refine Locally — Kachikwu by suyamasta(m): 10:25pm On Mar 14, 2016
NO NO NO

1 Like

Re: It’s Cheaper To Import Petrol Than Refine Locally — Kachikwu by Lawalemi(m): 10:25pm On Mar 14, 2016
Many of these people should apologise for insulting Jonathan

62 Likes 7 Shares

Re: It’s Cheaper To Import Petrol Than Refine Locally — Kachikwu by VocalWalls: 10:25pm On Mar 14, 2016
Shame dey catch me for this thread. embarassed

35 Likes 3 Shares

Re: It’s Cheaper To Import Petrol Than Refine Locally — Kachikwu by greatiyk4u(m): 10:25pm On Mar 14, 2016
Really?

1 Like

Re: It’s Cheaper To Import Petrol Than Refine Locally — Kachikwu by haibe(m): 10:25pm On Mar 14, 2016
So why do most countries prefer to refine themselves rather than import?

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Re: It’s Cheaper To Import Petrol Than Refine Locally — Kachikwu by macphilip: 10:26pm On Mar 14, 2016
Mr Minister, have you forgotten
Buy Naija to save the Naira

12 Likes 2 Shares

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