Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,155,891 members, 7,828,148 topics. Date: Wednesday, 15 May 2024 at 03:17 AM |
Nairaland Forum / Nairaland / General / Politics / Nigeria's Spends $1.8billion On Fuel Imports Quarterly (10696 Views)
Osinbajo Presides Over Quarterly Business Forum (Photos) / Banks Reject Loan Requests For Fuel Imports / Subsidy Removal: PPPRA Pegs Naira At N298/$ For Fuel Imports (2) (3) (4)
Nigeria's Spends $1.8billion On Fuel Imports Quarterly by Adesiji77: 9:52pm On Apr 13, 2016 |
The Nigerian National Petroleum Cooperation (NNPC) Wednesday disclosed that it cost the country about $1.8billion per quarter to import fuel.http://businessdayonline.com/2016/04/fuel-scarcity-may-be-over-in-days-as-more-stock-arrives-nnpc/ |
Re: Nigeria's Spends $1.8billion On Fuel Imports Quarterly by Chimezie250(m): 12:29am On Apr 14, 2016 |
what is the cost of building a refinery,indeed there was a country 19 Likes 2 Shares |
Re: Nigeria's Spends $1.8billion On Fuel Imports Quarterly by Ken4Christ: 2:17am On Apr 14, 2016 |
They won't build refineries that can meet up with daily demand as it will greatly limit the amount of money they will make compared with what they are making now. The question is who can stop them? They give our hungry youths peanuts to vote for them and even kill one another. God have mercy and deliver us from our wicked leaders. 15 Likes 2 Shares |
Re: Nigeria's Spends $1.8billion On Fuel Imports Quarterly by chriskosherbal(m): 2:25am On Apr 14, 2016 |
Hmm this is huge. |
Re: Nigeria's Spends $1.8billion On Fuel Imports Quarterly by TANTUMERGO007(m): 10:46am On Apr 14, 2016 |
Buhari has done it again 1 Like |
Re: Nigeria's Spends $1.8billion On Fuel Imports Quarterly by Okijajuju1(m): 10:46am On Apr 14, 2016 |
$1.8billion.. Just imagine this... Nigeria's 6 - 8 Top Refineries are refining Petroleum Products efficiently. Local demand is met and excess needs to be exported. Countries like most of those in West Africa now have to buy refined Petroleum products from us. Instead of spending 1.8 Billion, we make 1.8 billion.. But if we did this, then we wouldn't be Nigeria. 11 Likes 1 Share |
Re: Nigeria's Spends $1.8billion On Fuel Imports Quarterly by Nobody: 10:46am On Apr 14, 2016 |
Solution.....MORE REFINERIES |
Re: Nigeria's Spends $1.8billion On Fuel Imports Quarterly by Zico5(m): 10:46am On Apr 14, 2016 |
The best thing the present government can do is to concentrate more on building capital project like refineries, good roads and rail systems, power generation for country. nigeria has reached a stage where common man is not thinking right again, we are surrounded by wolves who have nothing meaningful for the country, they rather wish for the country to be brought down to its knee for political gains. Buhari should rather make it more easy for common man to enjoy the dividend of democracy by focusing on the needs of the country. 2 Likes |
Re: Nigeria's Spends $1.8billion On Fuel Imports Quarterly by PapaSeun: 10:46am On Apr 14, 2016 |
lol |
Re: Nigeria's Spends $1.8billion On Fuel Imports Quarterly by Barselonia(m): 10:46am On Apr 14, 2016 |
Alright.... Make someone please help me explain this currency ,Since we are going chinese yuan now, Make we have an understanding 1 Like
|
Re: Nigeria's Spends $1.8billion On Fuel Imports Quarterly by Nobody: 10:46am On Apr 14, 2016 |
Chimezie250: Based on the estimates from Dangote's new refinery...$10billion. And here is this answer from the website Quora.(sorry you need to sign up to read the answer in full) Taking this into account, building a complex, hydrocracking, hyrdroskimming, catalytic cracking refinery, can cost anywhere between 5-15 billion USD. The throughput (processing capacity) of this refinery should be between 250-500,000 barrels per day. Oil refining is a difficult business and margins are painfully slim. Economies of scale are critical to maintaining a viable business. 3 Likes |
Re: Nigeria's Spends $1.8billion On Fuel Imports Quarterly by Ptoocool(m): 10:46am On Apr 14, 2016 |
Biko,, where's the fuel? |
Re: Nigeria's Spends $1.8billion On Fuel Imports Quarterly by Project400: 10:47am On Apr 14, 2016 |
Does it change the fact that it is cheaper to import fuel than refine through our refineries? It is not enough to throw figures about imports, build the refineries and let's compare the costs and modalities. |
Re: Nigeria's Spends $1.8billion On Fuel Imports Quarterly by pepigeorge(m): 10:48am On Apr 14, 2016 |
Chimezie250:just $3b |
Re: Nigeria's Spends $1.8billion On Fuel Imports Quarterly by Nobody: 10:49am On Apr 14, 2016 |
Spending on imports rely on two things: Volume and the price. As we speak today, a cargo of product of about 40 million liters will cause about 13 to 14 million dollars. “And we need about 45 to 50 million liters to satisfy the country depending on the time and the condition of the country. So, if you assume that about 16 million dollars per day, it can also go up to 20 million dollars depending on the price. “It means you need 20 million dollars multiplied by 90 days for a quarter. That is $1.8 billion. So, this amount is required to import the country’s fuel requirement for one-quarter. Every month, we need $600 million to import fuel. So, we need $1.8 billion to import the country’s requirement for one-quarter” he said. 1 Like |
Re: Nigeria's Spends $1.8billion On Fuel Imports Quarterly by BizBayo: 10:49am On Apr 14, 2016 |
Our own refinery would be the best. |
Re: Nigeria's Spends $1.8billion On Fuel Imports Quarterly by ayusco85(m): 10:49am On Apr 14, 2016 |
buhari isn't the Messiah. We have to wait another 4yrs. Happy suffering and smiling 4 Likes |
Re: Nigeria's Spends $1.8billion On Fuel Imports Quarterly by Holyfield1(m): 10:49am On Apr 14, 2016 |
Na wa o |
Re: Nigeria's Spends $1.8billion On Fuel Imports Quarterly by EuchariaMichael(f): 10:49am On Apr 14, 2016 |
This country tho...smh |
Re: Nigeria's Spends $1.8billion On Fuel Imports Quarterly by extyme: 10:50am On Apr 14, 2016 |
Hmmm |
Re: Nigeria's Spends $1.8billion On Fuel Imports Quarterly by DaFlash: 10:50am On Apr 14, 2016 |
Quakertellicus1:if prized very well, china can build $1m refinery for us. |
Re: Nigeria's Spends $1.8billion On Fuel Imports Quarterly by fromnigeria(m): 10:56am On Apr 14, 2016 |
Nation made foolish by Greed and Wickedness is Nigeria. 2 Likes 1 Share |
Re: Nigeria's Spends $1.8billion On Fuel Imports Quarterly by henrysam(m): 10:57am On Apr 14, 2016 |
We need not worry We will be calculating in yuans now. At east dollar will rest 2 Likes 3 Shares |
Re: Nigeria's Spends $1.8billion On Fuel Imports Quarterly by Nobody: 10:57am On Apr 14, 2016 |
Okijajuju1:Okijababa |
Re: Nigeria's Spends $1.8billion On Fuel Imports Quarterly by allansie(m): 10:57am On Apr 14, 2016 |
Hmmmm....nkan be |
Re: Nigeria's Spends $1.8billion On Fuel Imports Quarterly by fromnigeria(m): 10:58am On Apr 14, 2016 |
ayusco85:If you don't have any meaningful contribution why not ignore and surf on. #AllForLikes 7 Likes |
Re: Nigeria's Spends $1.8billion On Fuel Imports Quarterly by ayusco85(m): 11:01am On Apr 14, 2016 |
fromnigeria: Once a Zombie always a zombie. Don't I ve a freedom of expression again? Abeg swerve make I see road. Hope u are enjoying Ur chains oops sorry change. 1 Like |
Re: Nigeria's Spends $1.8billion On Fuel Imports Quarterly by ppnye: 11:03am On Apr 14, 2016 |
Abi dem dey dash us the fuel, no be buy we dey buy am. Though, they will plead subsidy clause, they should tell us how much the fed is actually giving us as subsidy, or they don't get back amount from amount spent. okay now, make we build refineries, no be we dey manage our NLNG gas plant in Bonny. |
Re: Nigeria's Spends $1.8billion On Fuel Imports Quarterly by ppnye: 11:04am On Apr 14, 2016 |
Abi dem dey dash us the fuel, no be buy we dey buy am. Though, they will plead subsidy clause, they should tell us how much the fed is actually giving us as subsidy, or they don't get back any amount from amount spent? okay now, make we build refineries, no be we dey manage our NLNG gas plant in Bonny. |
Jerry Gana Blasts Olu Falae, Begins Presidential Campaign Today / Commissioner, Bello Goronyo Defects To APC In Sokoto / Olisa Agbakoba Writes President Buhari On "Need For New Revenue Sources"
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 33 |