allrightsir:



I dont think you understand. the opportunity cost of crude oil swaps is that you are using lost revenue from Crude oil exports to import via swaps refined petroleum products. Firstly refined petroleum products cost more than crude, it's like swapping palm oil for soap, secondly you are still importing just you are not physically paying using cash. I beleive the crude that forms the basis of the swaps are the crude allocated to local refineries that are not working. When the local refineries are up and running that 330,000 crude that was used for swaps will be refined locally and we will get more high value products from it, petrol, kero, diesel, carbon black etc etc plus almighty jobs.

I do hence I said short term.
I think the crude that equate the volume of imported finished product should go into this deal as as at now, only about %50 or revenues frm oil sales is being seen by the FG the rest goes you know where.

Swiftlee:

https://www.today.ng/business/energy/297381/resign-nigeria-continues-import-petrol-2019-kachikwu

Buy am wondering why 2019? I mean a change of govt will take place either way y not next year?

Lol. I know this man is very intelligent. But the should stop looking down on other nigerians as bunch of senseless people. How can you be making funny and annoying statements like this. There'll be another election in 2019 and you probably would be sacked if another party wins. Which kind wayo be this. Just tell us you are hopeful that we will stop importing fuel by 2019 and don't add the resign rubbish. Oga please don't allow these useless politicians infect you with lies.

erico2k2:

Ok why dont they allow the importers of these product to source forex themselves, and we concentrate on other forex needs and maintain our forex needs.I source forex myself, I have never went to the bank to seek forex.
This would give you an indication that all what they are telling us do not add up.
But then NNPC has no Biz importing petrol etc.

They will source for the forex from Nigerian market ? wont they? Ptrol is sold at 145 coz government is involve in regulating the price.

FG are now hoping & counting on DANGOTE to the extent of staking and swearing rubbish. Helpless fellows!

emiye:
They will source for the forex from Nigerian market ? wont they? Ptrol is sold at 145 coz government is involve in regulating the price.

U mean cos gov is subsidizing it not regulating it.where do I source for my own forex?

9jakohai:
Well, we need threw new refineries in addition to Dangote refinery to get to that goal.

Work dey

We currently consume 40 million liters per day

Dangote's refinery can produce over 55 million per day

Dongote refinery alone is enough to take care of our needs.


Not that we don't need more refineries, but Dangote alone exceeds our needs.

deomello:



We currently consume 40 million liters per day

Dangote's refinery can produce over 55 million per day

Dongote refinery alone is enough to take care of our needs.


Not that we don't need more refineries, but Dangote alone exceeds our needs.

At what price should be the question? If it is not lower than 145 mk dangote close the refinery. Hopefully it will cos it crude is sourced locally but at international rate. Wen DAT time come we go see..

Seankay323:

At what price should be the question? If it is not lower than 145 mk dangote close the refinery. Hopefully it will cos it crude is sourced locally but at international rate. Wen DAT time come we go see..

Price has nothing to do with production capacity as long as it takes care of our needs in Nigeria.


And oil is an international commodity and he can source his oil from anywhere.

[s][/s]who cares!

deomello:



Price has nothing to do with production capacity as long as it takes care of our needs in Nigeria.


And oil is an international commodity and he can source his oil from anywhere.

how would price not get anything to do with it? Dangote is a Biz man do you think he is going to build a refinery and operate at a loss?

Who will even allow you to be there by 2019?

[url]nairaland.com/izsmike[/url]

erico2k2:

how would price not get anything to do with it? Dangote is a Biz man do you think he is going to build a refinery and operate at a loss?

He will shut down $15 billion investment because of oil price increase same way all the refineries shut down when oil was selling for $100 per barrel. ?


What are you smoking gan sef?

Resign now and save your face.

Where u are standing is not a holy land.

U are dining with thé devil.

Think twice.

Pls who is kachukwu or what is kachukwu is that name of place or things or a name of zoo or forest reserve somewhere in Nigeria Oh sorry the name sound like one of those gorilla I used to read about then.

deomello:



He will shut down $15 billion investment because of oil price increase same way all the refineries shut down when oil was selling for $100 per barrel. ?


What are you smoking gan sef?

you sound like a school leaver, who said anything about Oil price(lack of comprehension) I said Loss, ie if his overhead is more than his profit he will def shut down.

Smart man,so you want to resign after the end of your possible term in office

I think you should read this article.
Ten Reasons Why Kachikwu Should Resign Now - Nigerian Citizen
https://www.nairaland.com/3817478/ten-reasons-why-kachikwu-should

There is more in this article, please read this concerned Nigerian's response to Kachikwu
Ten Reasons Why Kachikwu Should Resign Now - Nigerian Citizen
https://www.nairaland.com/3817478/ten-reasons-why-kachikwu-should

allrightsir:


First of all I have already told you i am not the issue here, don't shift the goal post. You say i am writing epitsle, but these are the facts that Nigerians dont like to deal with because we prefer not to hear the truth because it means we have to think and question accepted conventions and norms.

but to indulge you.

GdP of Ghana is $37B, GDP of Lagos state is $91B, under Fashola it was $131B. Ghana raises Over $6b in taxes, Lagos state less than $1b, for all your hero worship, Lagos lags behind the world standard of 20%. Lagos should be raising $10 -20B every year as IGR. Moreover, ghana has a larger popluation and a larger land mass to contend with as well as expenditure of things like defense which lagos does not have to.

I have already told you If i need 50000MW knowing our rate of population growth I will not be looking to add 1000Mw knowing how long it takes to build a power station, the gains will be lost by the time it is built. I will be looking to add increments of 10000MW. The Nigerian govt has the capacity to build a 10,000Mw power plant, build it or give guarantees to build it and then sell it off and get your money pack/repay the loan if you do not want to get involved in the management. Once a power plant is built it is built but if you are waiting for private sector @ 26% interest you will wait forever.

Fashola is a mentally lazy man, that has been elevated by a mentallly lazy unthinking populace to the status of hero, everything is PPP, i dont know what he thinks the role of govt is. If a government cant even build roads that why bother having a govt? There is traffic all over Lagos deploy and enforce fines for illegal driving/parking all over Lagos, tell your Lastma officials that they need to deliver a certain number of offenders every month to keep their job, if they like let them collect bribes, so long as they are delivering. You will be surprised how much revenue you can raise and at the same time you restore sanity to our roads. Everywhere you go you see people parking in roudabouts, trsailers on the fast lane etc...these are fines. People respond to fines, in a population of 17M, you will always find 5000 motoring offenders in Lagos on any given day, fine them N20K and you will make $100m every dear just from motoring fines. this is how cities across the world make money and control traffic. $100m every year and a few more initiatives in other areas and you wont need to be looking for PPP to build roads for you. If you put $100m into hospitals every year,you will do wonders. Put 10% tax on alcohol and 30% on cigarettes (nigerian cigarettes are the cheapest in the world and see how much you get, people will still drink and smoke. These things are not rocket science, instead they will be applying multiple taxes on innocent businesses trying to make a living in this harsh environment because they are low hanging fruit.


I can go on and on but you will say epitsle, this business of government is not hard, all you need is a brain. Awolowo transformed the Western region in 7 years, he gave us quality roads, quality institutions, quality infrastructure, quality health care.

by the way dont be seduced into the Nigerian mindset of thinking that because you are successful in one area you are a genius in all others and suddenly an authority in a subject you have no experience of., being a lawyer is different from governing, many professors fail when it comes to the application of the theory in their own field how much more someone not . Which business did he manage when he was a lawyer, that his being a lawyer qualifies him as an administrator? Dont get it mixed up, SAN means nothing when it comes to governing, LASG and ministry of Works is not a court of Law!!!! He is not going there to argue points of law so of what relevance is his SAN?

Once again you love mixing apples and oranges, your rhetoric is baseless, comparing a state to a country is wrong on so many avenues. If Ghana makes a certain amount of money from taxation it is because the system and the collective mindset of the people are positive. If you want to be sincere with yourself, you would ask: What was Lagos bringing in from taxation before Fashola? If you can find the answer to this simple question, it would help you to appreciate what he has done. No one is saying he is a genius in all areas but as far as what we were used to and what he gave, he earns a pass mark! Like I have said before, those who cannot do, go rambling on the internet. I would love to see how you would have done things differently while serving as a governor? Finally I like to point your attention to the bold part of your statement above, what qualified Fashola as an administrator? In Nigeria you do not need any qualifications apart from having good political backing but Fashola's case is even more compelling, for a MENTALLY LAZY MAN he served as Chief of Staff and:

Secretary of the Lands Sub-Committee of the Transitional Work Groups. 1999.
Member of the panel of Enquiry into allocation of houses on the Mobolaji Johnson Housing Scheme at Lekki, 2000.
Member of the State Tenders Board- 2002– 2006.
Member of Lagos State Executive Council-2002-2006.
Member of the State Security Council-2002-2006
Member of the State Treasury Board-2002-2006
Chairman Ad-Hoc Committee on the Review of Asset distribution among Local Government.

If these are not crucial experiences then I have nothing to say to you again! Show me your qualifications and your years of experience and let me also see if you are more MENTALLY EFFICIENT than Fashola!

`

erico2k2:

you sound like a school leaver, who said anything about Oil price(lack of comprehension) I said Loss, ie if his overhead is more than his profit he will def shut down.

Seankay323:

At what price should be the question? If it is not lower than 145 mk dangote close the refinery. Hopefully it will cos it crude is sourced locally but at international rate. Wen DAT time come we go see..

Exactly what's the meaning of the highlighted? Price of what?


Either you have a serious case of amnesia or you just lack the ability to read and comprehend the rubbish you type and post.

While you are at it, please show us how many refineries shut down because of price or whatever silly overhead you are talking about?

klax:
Pls who is kachukwu or what is kachukwu is that name of place or things or a name of zoo or forest reserve somewhere in Nigeria Oh sorry the name sound like one of those gorilla I used to read about then.

Learn to spell before you start coming on here to talk funny.

deomello:







Exactly what's the meaning of the highlighted? Price of what?


Either you have a serious case of amnesia or you just lack the ability to read and comprehend the rubbish you type and post.

While you are at it, please show us how many refineries shut down because of price or whatever silly overhead you are talking about?

You see, i told you that you was a school leaver or not so exposed,
Read here plz and get educated instead of throwing insults.the part of the world I have been exposed to in my very young age might take you a life time to reach
http://beniciaindependent.com/list-of-refineries-that-have-been-shut-down-saved-or-sold-in-past-5-years/