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It’s Cheaper To Import Petrol Than Refine Locally — Kachikwu - Politics (3) - Nairaland

Nairaland Forum / Nairaland / General / Politics / It’s Cheaper To Import Petrol Than Refine Locally — Kachikwu (32404 Views)

Ibe Kachikwu Shakes Baru At The Nigerian Economic Summit, Earlier Today / I Will Resign If Nigeria Continues To Import Petrol By 2019 – Kachikwu / Fashola, Amaechi, Ngige, Onu, Lai, Kachikwu Make Ministerial List - TheCable (2) (3) (4)

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Re: It’s Cheaper To Import Petrol Than Refine Locally — Kachikwu by VANHELLSING: 11:14pm On Mar 14, 2016
Olukat:
Even the "presumed" brilliant ones are getting confused by the day shocked shocked
What' really going on?
They have been infected by dullardism :p

4 Likes

Re: It’s Cheaper To Import Petrol Than Refine Locally — Kachikwu by SycophanticGoat: 11:14pm On Mar 14, 2016
Nicur:
hahahahaha just when I thought he is heading for redemption grin anyway na small small


Abagworo head for redemption? You must be joking.. That one will rather die in falsehood than to accept his wrong doing. Very gambaric (Fulani) in nature I tell you. The devil would rather repent of his sins and give his life to Christ than for Abagworo to change for good..

4 Likes 3 Shares

Re: It’s Cheaper To Import Petrol Than Refine Locally — Kachikwu by Lebee4(m): 11:15pm On Mar 14, 2016
I think we are having more headline readers here than the readers of the main news.
after all the explanation made by the minister, I am disappointed by most of the comments on this post.

6 Likes

Re: It’s Cheaper To Import Petrol Than Refine Locally — Kachikwu by shugaboy6102(m): 11:15pm On Mar 14, 2016
Controversialad:
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
Nna what has this got to do with the discourse...pls don't appear to be more confused than APC.udo
Re: It’s Cheaper To Import Petrol Than Refine Locally — Kachikwu by crownwealth: 11:15pm On Mar 14, 2016
SycophanticGoat:



Abagworo head for redemption? You must be joking.. That one will rather die in falsehood than to accept his wrong doing. Very gambaric (Fulani) in nature I tell you. The devil would rather repent of his sins and give his life to Christ than for Abagworo to change for good..


Who is aba-goro ? Is that a new Gworo from the north ? cheesy

2 Likes 1 Share

Re: It’s Cheaper To Import Petrol Than Refine Locally — Kachikwu by crownwealth: 11:16pm On Mar 14, 2016
Lebee4:
I think we are having more headline readers here than the readers of the main news.
after all the explanation made by the minister, I am disappointed by most of the comments on this post.


Haaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa cheesy cheesy cheesy cheesy
Re: It’s Cheaper To Import Petrol Than Refine Locally — Kachikwu by SycophanticGoat: 11:18pm On Mar 14, 2016
BUTCHCASSIDY:
Everyday I thank God I didnt vote anyone into power. I would feel very foolish. Come 2019 I will do what I did in 2015. sleep in my house.


Omo, 2015 was my first time oh my guy but I will go back to staying at home on the election day. In 2011, I escaped death in the north by staying inside the school without voting. I don even tire self. Maybe we go organize party for your house make boys come rock sure babes instead of standing under the sun to vote for these failures called politicians... grin cheesy

1 Like

Re: It’s Cheaper To Import Petrol Than Refine Locally — Kachikwu by SycophanticGoat: 11:19pm On Mar 14, 2016
crownwealth:



Who is aba-goro ? Is that a new Gworo from the north ? cheesy


Are you firefire? You sounding like firefire... cheesy cheesy cheesy
Re: It’s Cheaper To Import Petrol Than Refine Locally — Kachikwu by Emekamex(m): 11:20pm On Mar 14, 2016
Nigeria is fuc(ked), I swear. We have no functional refinery, for a population of over 180 million blessed with crude oil. If we were sane, each state would have atleast one refinery, I am still wondering when we will get it right.

1 Like

Re: It’s Cheaper To Import Petrol Than Refine Locally — Kachikwu by lordizak(m): 11:25pm On Mar 14, 2016
[quote author=OZAOEKPE post=43774492]PMB JUST THEY VIOLATE EVERY PRINCIPLES OF ECONOMICS, HE IS TOO D A F T TO RULE A NATION AS NIGERIA. [/quote
Do You listen to yourself when you speak? U should be ashamed of your own daftness.

1 Like

Re: It’s Cheaper To Import Petrol Than Refine Locally — Kachikwu by Werehkpe: 11:25pm On Mar 14, 2016
obasiken:
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.

Its a pity but it seems you do not read properly before commenting

Kachikwu said "AT THE MOMENT" it is not cheaper to import than to refine in Nigeria and this is because the refineries need total overhauling and Turn Around Maintenance TAM

I dont see what is wrong with this statement of fact

7 Likes

Re: It’s Cheaper To Import Petrol Than Refine Locally — Kachikwu by klax(m): 11:26pm On Mar 14, 2016
I'm not surprise honesty I have said it before and I'm repeating it that more shock are still coming just keep watching.

1 Like

Re: It’s Cheaper To Import Petrol Than Refine Locally — Kachikwu by Abagworo(m): 11:29pm On Mar 14, 2016
Nicur:
hahahahaha just when I thought he is heading for redemption grin anyway na small small

Vanguard lies based on personal verification. I am sure Kachikwu never said what they wrote or they twisted his words to indict him. Everything from me is truth and nothing but the truth. I always put our interest as a nation 1st.

1 Like

Re: It’s Cheaper To Import Petrol Than Refine Locally — Kachikwu by AngryNigerian(m): 11:33pm On Mar 14, 2016
crownwealth:
Time to begin mass protest against this fraudulent government.


Time don pass my brother!!! But if you start now, dey'l say u r sponsored by PDP " thugs"
Re: It’s Cheaper To Import Petrol Than Refine Locally — Kachikwu by Jimi23(m): 11:34pm On Mar 14, 2016
I am beginning to get irritated by the memebers of the FEC in this administration. This statement by Kachikwu makes me view PMB's administration as clueless. Why will KAchikwu make this contradictory statement when fixing old and building new refineries was one of the most harped on campaign promise of APC and Buhari. They should just come out with the truth by telling us that they have yet again reneged on another campaign promise. May God rescue Nigeria.

1 Like

Re: It’s Cheaper To Import Petrol Than Refine Locally — Kachikwu by Positiveminds(m): 11:38pm On Mar 14, 2016
To play opposition and run propaganda is not same with governance. Reality is here. PMB and his men should crack it.

2 Likes

Re: It’s Cheaper To Import Petrol Than Refine Locally — Kachikwu by Nobody: 11:44pm On Mar 14, 2016
Hmm, Mr Kachikwu has the petroleum products importation & subsidy cabal gotten to you finally??

2 Likes 1 Share

Re: It’s Cheaper To Import Petrol Than Refine Locally — Kachikwu by BodyKiss(m): 11:46pm On Mar 14, 2016
People just feel the need to comment without actually reading the post first. When you read just the headline and comment, you're certainly bound to wail.

5 Likes

Re: It’s Cheaper To Import Petrol Than Refine Locally — Kachikwu by KlausVestner(m): 11:47pm On Mar 14, 2016
Wow, with all the respect to a minister .....
I guess someone need to study in an university very hard to be able to isolate the production of petrol and claim that it's cheaper to produce it abroad ......
Okay, I've never studied in an university, so that might be the reason why I think, that the production costs of petrol cannot be seen alone .....what about all the byproducts? What about all the families who can get food, because they're working in such a raffinery inside Nigeria?
What about the political aspect to try making Nigeria's economy independent from abroad?
And finally, what will that honest minister will tell to the Nigerian citizen when the costs will raise and producing petrol would be cheaper inside the country?
In my humble opinion, it's in no way cheaper to produce petrol outside the country ......oh and besides that, are the producers of petrol outside Nigeria all stupid fools for buying oil from Nigeria and resell petrol into Nigeria again?
Considering that each member of a government has to swear an oath to do all and everything for the best of the country, this minister I guess should go sit back and do the calculations again under the aspects of Independence, social benefits for the economy, etc.
Each single coin what leaves Nigeria is gone .....money what will remain in the country will "work" for the own economy.
Those workers in the raffineries will spend their money at local markets for ....hopefully ....buying local produced food and goods and will strengthen the Nigerian economy.
I sincerely cannot see any sense to let companies abroad doing the business and harm the own economy.
Re: It’s Cheaper To Import Petrol Than Refine Locally — Kachikwu by Okaka27(m): 11:49pm On Mar 14, 2016
obasiken:
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.
"pessimists"

Fok outta here

You bloody wailers that will dissect n criticise any good news that comes out of this current administration

3 Likes

Re: It’s Cheaper To Import Petrol Than Refine Locally — Kachikwu by Nobody: 11:58pm 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 .

If there is any administration that should be tagged a locust administration, it is buhari's administration.

The wastage and everything going on in this administration points to the fact that the locust is here in this administration.

1 Like

Re: It’s Cheaper To Import Petrol Than Refine Locally — Kachikwu by khattab02: 11:59pm On Mar 14, 2016
''even if all the refineries are at 100%, they will only produce 20 milions litres and that's about 50 percent out daily comsumption'' chei na die ooooo!!! These refineries needs major overhaul!




But how did we come to this?











Anyway, we want the better way forward now that will yield positive results and absolve the poor masses from all these sufferings .
Re: It’s Cheaper To Import Petrol Than Refine Locally — Kachikwu by Lamexx(m): 12:04am On Mar 15, 2016
Can you imagine. I was hoping with all the noise about buy naira to grow naira, deregulation and subsidy wahala, Buhari will flood this country with refineries to create jobs and boost the naira. So this Minister finally stamped the seal of approval for importation to continue leaving Nigerian youth jobless and hopeless and the importation CABAL wealthy. Chei... I give up. Time to relocate to US or Canada. This country is totally irredeemable.

1 Like 1 Share

Re: It’s Cheaper To Import Petrol Than Refine Locally — Kachikwu by khattab02: 12:11am On Mar 15, 2016
BodyKiss:
People just feel the need to comment without actually reading the post first. When you read just the headline and comment, you're certainly bound to wail.
I tell you! And this has really become a sickness to most Nigerians (Not reading between lines or undestanding).

5 Likes

Re: It’s Cheaper To Import Petrol Than Refine Locally — Kachikwu by MrOdyssey(m): 12:14am On Mar 15, 2016
naijagobetter:
i hate to say it two steps forward three steps backward, which way my beloveth country?


The country needs deliverance.. sad
naijagobetter:
i hate to say it two steps forward three steps backward, which way my beloveth country?


The country needs deliverance..
Re: It’s Cheaper To Import Petrol Than Refine Locally — Kachikwu by Caution30: 12:20am On Mar 15, 2016
How do you create jobs for teeming youth?
Re: It’s Cheaper To Import Petrol Than Refine Locally — Kachikwu by Nobody: 12:24am On Mar 15, 2016
crownwealth:
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/
I have always said it and people will stone me for it. Deziani chopped money like others before her, but she was the best energy minister Nigeria has ever had:
1. Nigerian owned businesses benefited from this sector more than at any time in Nigerian history. Nigerians benefited in that fuel was affordable under her tenure.
2. There was never fuel scarcity under her tenure.
3. The policy mess Kachukwu and Buhari have embraced (such as having NNPC play greater role in the sector and trying to rely on the refinery) Deziani avoided them. She couldn't hide her own stealing hence she became public enemy number 1.
The sector will continue to suffer until the president brings back some of her policies such as having private sector and Nigerians play a greater role in the sector (instead of NNPC and international oil companies, a policy has proven to fail). Anything other than this, we are for a long haul.

1 Like

Re: It’s Cheaper To Import Petrol Than Refine Locally — Kachikwu by Lamexx(m): 12:25am On Mar 15, 2016
Emekamex:
Nigeria is fuc(ked), I swear. We have no functional refinery, for a population of over 180 million blessed with crude oil. If we were sane, each state would have atleast one refinery, I am still wondering when we will get it right.

Do you know, I have always wondered why the IOC's (Mobil, Shell, Chevron and co) don't have a single refinery in the country apart from the one Shell handed over to the govt. Why can't this government give an ultimatum to these IOC to refine 60% of the crude produced in their various fields in Nigeria and export the remaining 40% under the various joint venture agreements with NNPC? Why are we still flaring gas when we can generate massive infrastructure to harness this gas for electricity, heating and cooling. Where did we just get it wrong? I give up walahi. California has 20 refineries, Texas in the US have 25 functional refinery with the largest being the Baytown Refinery (ExxonMobil), Baytown 560,500 bbl/d and Beaumont Refinery (ExxonMobil), Beaumont 344,600 bbl/d. These refineries are owned by ExxonMobil and NNPC is managing to produce a total capacity of 445,000 bbl/d for the whole Nigeria. Why do we have clueless and visionless leaders??

2 Likes

Re: It’s Cheaper To Import Petrol Than Refine Locally — Kachikwu by Jean2(m): 12:28am On Mar 15, 2016
[color=#770077][/color]
Emekamex:
Nigeria is fuc(ked), I swear. We have no functional refinery, for a population of over 180 million blessed with crude oil. If we were sane, each state would have atleast one refinery, I am still wondering when we will get it right.

Wonder wonder wonder wonder, till you turn to wanderer.... smiley

If pesin think Nigeria too much e go just peme

Me I continue my hussle anyway, help me check here sir => http://jeansunday.blogspot.com.ng/2016/03/easily-view-your-mobile-device-content.html?m=1

1 Like

Re: It’s Cheaper To Import Petrol Than Refine Locally — Kachikwu by delectablegyal(f): 12:38am On Mar 15, 2016
Nigeria's economy. What can I say about it? It's fvcked up.
Re: It’s Cheaper To Import Petrol Than Refine Locally — Kachikwu by quickly: 12:39am On Mar 15, 2016
crownwealth:
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/


We shd focus on being no 1 exporter of pms in Africa . Dat way u will be getting revenue and also creating jobs.

1 Like

Re: It’s Cheaper To Import Petrol Than Refine Locally — Kachikwu by quickly: 12:40am On Mar 15, 2016
If demand invest at least 5 billion dollars . Dat will.solve.d problem.

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