Ekakamba:
Let's observe a minute of silence for the 13-17-year-old girls who think their boyfriends will marry them.

How old are you?

SarkinYarki:
The problem here is not Buhari paying subsidy after he claimed there was nothing like subsidy but the secrecy in which it's all shrouded and the fact that there is no Budgetary or appropriation approval or allocation for such a huge expense which I gather is the value of a whooping 20 percent of the National budget of 9.1 trillion Naira ...

Where is Buhari getting this money from ?

How is it being accounted for ?

How come it doesn't reflect in any national expense sheet ?

Fellow Nigerians we might have the most mind boggling case of executive corruption in human history brewing !!!

When you tell them Buhari and his men have been secretly stealing, they will say No. They came out to confess because the house is now bent on investigating the subsidy scam. Awon olosi.

khalhokage:


How old are you?

Too young for marriage and too old to play games.

Initially the opposition parties, ACN and others(before the merger). said in 2012, that there's no subsidy, and in a process of time they were voted into power im 2015 and started paying for what they said doesn't exist. Fast forward, in 2016 they removed the whole subsidy, now they're telling us that they subsidize what they've totally removed. This is the peak of scam.

Mr integrity is it true? If it's true, are a scam

N53 per day? This present government will end up bankrupting this country.

Please there is no subsidy!

We have changed the name. Under recovery


All of you asking about refineries here I cannot tag you all, but I hope you read this. Came across it while searching for answers. Enjoy

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Oil refineries are very, very expensive and difficult to build, and refining oil is a very, very competitive global industry. Petroleum refineries can be built near producing regions, near consuming regions, or at some convenient location in between. However, developing countries which are oil producers don’t usually have a lot of consumers, and even if they do, they don’t have enough money or expertise to build oil refineries.

Most new oil refineries have been built near the new consumers in countries such as China and India which have rapidly growing domestic markets. These newly developed countries have lots of cheap money, lots of highly trained engineers willing to work cheap, and lots of cheap labor to build new refineries. Both China and India graduate more new engineers every year than the US has in total, and have over a billion people each, most of which are relatively well educated due to recent advances in their education systems.

Building a refinery in a developing country which is a producer rather than a consumer is much more difficult since these countries 1) don’t have enough domestic consumers to buy products from the refinery, 2) don’t have enough skilled engineers to design the refinery, 3) don’t have enough people who have the basic skills to build a refinery, and 4) mostly, don’t have enough money left to build refineries after their corrupt politicians and generals take their cut of the oil money.

Saudi Arabia, which has the world’s second largest oil reserves and is the second largest oil producer, has actually built some huge new refineries in SA to process its oil, but it is an exception. This year it bought 100% interest in the Port Arthur refinery in Texas, which is the largest oil refinery in North America because it has decided that it is more lucrative to refine the oil near the North American consumers than near the Arabian producing fields.

David More, Quota.com
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Africans are cursed

ijustdey:




http://petrobarometer.thecable.ng/2018/10/25/budget-office-nnpc-paying-n53-subsidy-every-litre-petrol/

... And that explains why despite the strong oil prices, we are not seeing a corresponding growth in government revenue.

I dont understand this? This would be speaking from both sides of the mouth because the previous govt was castigated for not doing enough while it experienced strong oil prices.

Are we saying the effect did not help its revenue?

Rhetorical question to everyone asking for subsidies to be removed to save the country money and also stop corruption.

When Obasanjo was president, crude sold for about 70 dollars per barrel yet the landing cost was less than 70 naira so the price of a litre of fuel was 75 naira. Today crude oil is around 70 dollars, yet the landing cost of petrol is 200. Why is this the case?

The increase in the landing cost is as a result of the weakening of the naira and not an increase in crude oil prices.

Who is responsible for ensuring our exchange rate remains strong? The Federal government.

If you call for total deregulation, one day Nigerians will buy fuel for 500 naira per litre as a result of further weakening of the naira. Even now, because of this government's incompetence, the naira would need to be further devalued to ensure Nigeria returns to a growth path.

Nigeria imports all the petrol they consume yet the same Nigeria pays thousands of workers in refineries that are obsolete and not working, what a country?