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2019 Presidency: How PDP Exposed Atiku’s Ignorance – Oby Ezekwesili - Politics (5) - Nairaland

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Re: 2019 Presidency: How PDP Exposed Atiku’s Ignorance – Oby Ezekwesili by MICHEALADEX(m): 11:43am On Nov 03, 2018
Zico5:
I thought this woman was sane until recently I began to mind her utterances. She thought she knows it all whereas she is delusional. She complains about anything whereas her life is far from being perfect. I wonder how her husband cope with such egocentric woman. may God have mercy on u.


Your tire of throwing stones at her political ambitions now it’s her family... yaba left is waiting for you
Re: 2019 Presidency: How PDP Exposed Atiku’s Ignorance – Oby Ezekwesili by lexy2014: 11:46am On Nov 03, 2018
efilefun:
With crude at $80/bbl and exchange rate at N305/$? (special fx by FG for importers)

A barrel of crude is about 159 liters of crude.

Just dividing the $80 (N24,400) by 159 liters already gives a price of N153.4/liter without any processing.

So, by the time you factor in refining and transportation costs, THERE IS NO WAY the price will come as low as the 85/90 naira price PDP are claiming to reduce the price to.

But the unfortunate blockhead yoots won't see thru the lies but keep screaming Atikulooting.
There are two ways of making petroleum products available to d consuming public in Nigeria, local refining and importation of products. So far, importation has been a conduit 4d enrichment of a few. Refining is a cheaper option which many govts since d abacha era have refused to pursue 4 obvious reasons. If atiku says he can get a litre of fuel to b N80, then it is practicable &possible
Re: 2019 Presidency: How PDP Exposed Atiku’s Ignorance – Oby Ezekwesili by EasternActivist: 11:48am On Nov 03, 2018
obailala:
Even if our refineries were working, the only way petrol can be sold for N80 is if the govt subsidises it; or if our economy picks up so well that $1 becomes less than N100.

At $80/barrel, petrol should sell for about N150. If the govt then decides to just peg the price at N80, that already means a foregone ~N70 per litre which the govt would have made if it had just sold the crude at $80. You really do think you're smarter than Oby?

Stop deceiving yourself Mister...

If we have what it takes for other countries we refine our product from to refine ours then there is no means importing it and paying for Landing cost and other expenses. Tell me what will keep the petrol from being free even, let alone sold at a high price of N80? And yes without any form of subsidy.
Re: 2019 Presidency: How PDP Exposed Atiku’s Ignorance – Oby Ezekwesili by redsun(m): 11:50am On Nov 03, 2018
Atiku's business acumen, like that of most successful rich thieves,i.e,Tinubu, centers on looting the people's wealth unhindered. Why certified thieves are the only people available to lead a country of over a hundred million people in the 21st century is something that is beyond comprehension. It is either the general population are thieves themselves or mentally shackled.
Re: 2019 Presidency: How PDP Exposed Atiku’s Ignorance – Oby Ezekwesili by Akaujaa(m): 11:50am On Nov 03, 2018
EverestdeBliu:
Madam mind your own business.... Face your campaign and analyzing other people's strategies.

Why not mind your own business too.
Re: 2019 Presidency: How PDP Exposed Atiku’s Ignorance – Oby Ezekwesili by lexy2014: 11:51am On Nov 03, 2018
obailala:
Even if our refineries were working, the only way petrol can be sold for N80 is if the govt subsidises it; or if our economy picks up so well that $1 becomes less than N100.

At $80/barrel, petrol should sell for about N150. If the govt then decides to just peg the price at N80, that already means a foregone ~N70 per litre which the govt would have made if it had just sold the crude at $80. You really do think you're smarter than Oby?
How did u arrive at N150 per litre of petrol 4 locally refined PMS?
Re: 2019 Presidency: How PDP Exposed Atiku’s Ignorance – Oby Ezekwesili by EverestdeBliu(m): 11:53am On Nov 03, 2018
Akaujaa:


Why not mind your own business too.
I'm doing just that
Re: 2019 Presidency: How PDP Exposed Atiku’s Ignorance – Oby Ezekwesili by erinalex: 12:16pm On Nov 03, 2018
[quote author=SarkinYarki post=72642465]Stupid woman !!! Where did she here Atiliku say anything reducing the price of fuel ..when I say this wicked evil woman is working for Buhari I know what I am saying [/quote SarkinYarki ! Is not possible for you to make your point, without abuses ?
You can drive home your points, without name calling. It's possible.
Differents in thinking and opinions doesn't necessarily means you Must Resort to abuse.
Because, u don't agree with my own ideas and ways; can Never make u terrible human being.
Until we start,respecting each other opinions, we shall never move forward as a nation.
Reacting to issues emotionally, has never and will never helped.
Re: 2019 Presidency: How PDP Exposed Atiku’s Ignorance – Oby Ezekwesili by oddoood: 12:18pm On Nov 03, 2018
DQ94:
There was a report about a pastor who released a sextape involving him and a lover... It was on Front Page, even.

Well... Here goes: https://www.xvideos.com/video40711727/nigerian_pastor_funking_his_mistress

So what should we do with it
Re: 2019 Presidency: How PDP Exposed Atiku’s Ignorance – Oby Ezekwesili by SarkinYarki: 12:19pm On Nov 03, 2018
[quote author=erinalex post=72646590][/quote]


Oga I will be uncouth with any satanic devil that wants Buhari to continue
Re: 2019 Presidency: How PDP Exposed Atiku’s Ignorance – Oby Ezekwesili by hush15: 12:32pm On Nov 03, 2018
yeyeboi:
FTC On FP


I Dedicate This FTC To All Atikulated Supporters , 2019 The AIM Is To Send The Lifeless Back To Daura And Make Nigeria Great Again smiley

Are you minding these ones. Atiku is not yet president but she is more worried about Atiku than the present failure!

All they are doing is giving people reason to vote Atiku because they all regard him as good competition. It also imply he is the only one that can dethrone the incumbent.

Let them write epistles, #iamsouthwestandiamatikulated





No Matter What You Say I Have Been Atikulated , This Woman No Get Talk For Mouth tongue

1 Like

Re: 2019 Presidency: How PDP Exposed Atiku’s Ignorance – Oby Ezekwesili by Bennycollins: 12:33pm On Nov 03, 2018
A barrel of crude is not up to 159 litres of PMS, just about 75 litres. But there are other more valuable fractions like jet fuel household kerosen, diel, asphalt,lpg etc. These altogether can give above 153 dollars. So lower pump price is achievable with prudence and sincerity in there management of our oil/ gas resources. Moreover the determination to fix our refineries is all we need. Just may be Atiku can break the jinx and make the refineries work to say 60% capacity we would not be paying #145 for a litre of fuel. Let's try Atiku, while we keep our PVC close by for 2023.
efilefun:
With crude at $80/bbl and exchange rate at N305/$? (special fx by FG for importers)

A barrel of crude is about 159 liters of crude.

Just dividing the $80 (N24,400) by 159 liters already gives a price of N153.4/liter without any processing.

So, by the time you factor in refining and transportation costs, THERE IS NO WAY the price will come as low as the 85/90 naira price PDP are claiming to reduce the price to.

But the unfortunate blockhead yoots won't see thru the lies but keep screaming Atikulooting.
Re: 2019 Presidency: How PDP Exposed Atiku’s Ignorance – Oby Ezekwesili by boxypane(m): 12:34pm On Nov 03, 2018
EverestdeBliu:
Madam mind your own business.... Face your campaign and analyzing other people's strategies.
If you don't have an opinion contrary to her claims, then type not. She gave a basic fact of economics. In simple terms, can you reduce the price of your own goods when running at a loss?
How can they remove subsidy with an economic deficit of N4trillion? Be educated pls.
Re: 2019 Presidency: How PDP Exposed Atiku’s Ignorance – Oby Ezekwesili by uba1991: 12:41pm On Nov 03, 2018
SarkinYarki:
Stupid woman !!! Where did she here Atiliku say anything reducing the price of fuel ..when I say this wicked evil woman is working for Buhari I know what I am saying
u ar not current olodo
Re: 2019 Presidency: How PDP Exposed Atiku’s Ignorance – Oby Ezekwesili by ITbomb(m): 12:42pm On Nov 03, 2018
efilefun:
With crude at $80/bbl and exchange rate at N305/$? (special fx by FG for importers)

A barrel of crude is about 159 liters of crude.

Just dividing the $80 (N24,400) by 159 liters already gives a price of N153.4/liter without any processing.

So, by the time you factor in refining and transportation costs, THERE IS NO WAY the price will come as low as the 85/90 naira price PDP are claiming to reduce the price to.

But the unfortunate blockhead yoots won't see thru the lies but keep screaming Atikulooting.
If you have policies to encourage and establish modular refineries to refine and distribute locally, it takes care of your exchange rate and crude price calculations.

We MUST not continue depending on imported fuel, it exposes us to uncontrolled external risks

Yes, it can be reduced with right leadership
Atiku 2019
Re: 2019 Presidency: How PDP Exposed Atiku’s Ignorance – Oby Ezekwesili by SarkinYarki: 12:45pm On Nov 03, 2018
uba1991:
u ar not current olodo

You are the olodo here ..so because one unauthorized member of the partu made a comment now means it came from Atiku ..Atiku is very well abreast of economic realities and will never issue such
Re: 2019 Presidency: How PDP Exposed Atiku’s Ignorance – Oby Ezekwesili by obailala(m): 12:47pm On Nov 03, 2018
lexy2014:

How did u arrive at N150 per litre of petrol 4 locally refined PMS?
EasternActivist:


Stop deceiving yourself Mister...

If we have what it takes for other countries we refine our product from to refine ours then there is no means importing it and paying for Landing cost and other expenses. Tell me what will keep the petrol from being free even, let alone sold at a high price of N80? And yes without any form of subsidy.


Global oil price is ~$80, and a barrel of crude can produce roughly 160 litres of pms. At current official exchange rate of N305/$, $80 = N24400 for 160 litres. That comes up to roughly N152.5. Note that the figure above has not considered the cost of adding value to the crude; i.e. refining, transportation, storage and other miscellaneous costs.

So with the above in mind, if Nigerian govt refines it's crude and decides to drop the pump price to N80, it would be losing over N70/litre which it would have gained if it decides to alternatively just sell the crude internationally at $80; in essence, Nigeria would be foregoing about $37 per barrel of crude it uses for local consumption. That foregone figure is already subsidy, and it's something no Nigerian govt would willingly want to go back to if it can be avoided. Oby Ezekwesili does not blab.

@EasternActivist
If you're ignorant of a subject, the honorable and mature thing to do is to ask for an explanation rather than jump around calling people liars.

1 Like

Re: 2019 Presidency: How PDP Exposed Atiku’s Ignorance – Oby Ezekwesili by lexy2014: 1:07pm On Nov 03, 2018
obailala:


Global oil price is ~$80, and a barrel of crude can produce roughly 160 litres of pms. At current official exchange rate of N305/$, $80 = N24400 for 160 litres. That comes up to roughly N152.5. Note that the figure above has not considered the cost of adding value to the crude; i.e. refining, transportation, storage and other miscellaneous costs.

So with the above in mind, if Nigerian govt refines it's crude and decides to drop the pump price to N80, it would be losing over N70/litre which it would have gained if it decides to alternatively just sell the crude internationally at $80; in essence, Nigeria would be foregoing about $37 per barrel of crude it uses for local consumption. That foregone figure is already subsidy, and it's something no Nigerian govt would willingly want to go back to if it can be avoided. Oby Ezekwesili does not blab.

@EasternActivist
If you're ignorant of a subject, the honorable and mature thing to do is to ask for an explanation rather than jump around calling people liars.

U are talking about exchange rate and global price of oil. What has that got 2do with local production? Does NNPC import d crude it refines? D N70 u say NNPC will loose, were is it from? What is d breakdown? What is d breakdown of ur N150? What is d cost of refining a litre of PMS locally? Transportation, storage and other miscellaneous cost..what's d basis 4 all these costs and activities 4 local refining?

1 Like

Re: 2019 Presidency: How PDP Exposed Atiku’s Ignorance – Oby Ezekwesili by Ovamboland(m): 1:16pm On Nov 03, 2018
yeyeboi:
FTC On FP


I Dedicate This FTC To All Atikulated Supporters , 2019 The AIM Is To Send The Lifeless Back To Daura And Make Nigeria Great Again smiley






No Matter What You Say I Have Been Atikulated , This Woman No Get Talk For Mouth tongue

How can you understand what she's saying when your intellect is already Atikulooted?
Re: 2019 Presidency: How PDP Exposed Atiku’s Ignorance – Oby Ezekwesili by okofians(m): 1:21pm On Nov 03, 2018
We have been saying it but the gullible miscreants who would not be participating in the forth coming poll,due to the lack of PVC will never agree..(PDP) People Deceiving People don't have anything to say to the well-meaning Nigerians... Not again to the evil and looter clan
Re: 2019 Presidency: How PDP Exposed Atiku’s Ignorance – Oby Ezekwesili by Jiang(m): 1:34pm On Nov 03, 2018
theoldpretender:


They should...but it isn't politically popular.

For ordinary people,it means higher fuel prices. For NNPC, it means an end to the corruption...well most of it.

Yet, despite the higher prices, oil subsidy removal makes sense long term for an economic point of view. The problem is, most of us Nigerians have been suffering too much to see this vision.

Nigerians will survive & I think subsidy removal is good for us, the suffering will be for like 1-2 years & we shall adapt, but the problem is what happens to the money for paying subsidy after it has being removed, My problem is the kleptomanic politicians

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Re: 2019 Presidency: How PDP Exposed Atiku’s Ignorance – Oby Ezekwesili by Jiang(m): 1:36pm On Nov 03, 2018
ITbomb:

If you have policies to encourage and establish modular refineries to refine and distribute locally, it takes care of your exchange rate and crude price calculations.

We MUST not continue depending on imported fuel, it exposes us to uncontrolled external risks

Yes, it can be reduced with right leadership
Atiku 2019

Your stupidity is appalling, just like die hard BMC zombies grin I guess you be atiku zombie.


Petrol can't be 90 naira per litre without subsidy unless you are siphoning it from heaven
Re: 2019 Presidency: How PDP Exposed Atiku’s Ignorance – Oby Ezekwesili by bibiking7(m): 1:46pm On Nov 03, 2018
efilefun:
With crude at $80/bbl and exchange rate at N305/$? (special fx by FG for importers)

A barrel of crude is about 159 liters of crude.

Just dividing the $80 (N24,400) by 159 liters already gives a price of N153.4/liter without any processing.

So, by the time you factor in refining and transportation costs, THERE IS NO WAY the price will come as low as the 85/90 naira price PDP are claiming to reduce the price to.

But the unfortunate blockhead yoots won't see thru the lies but keep screaming Atikulooting.






God bless you bro. Instead of folks to think about what she said and see if it's true, the best they could come up with is personality attacks.

The next thing that can reduce fuel price in Nigeria has already commenced. Hopefully on the completion of the Dangote refinery in Lagos. Fuel importation and price will reduce.


Re: 2019 Presidency: How PDP Exposed Atiku’s Ignorance – Oby Ezekwesili by Proffdada: 2:02pm On Nov 03, 2018
surgical:
simply by cutting the corruption associated with the current subsidy regime where 30m litres per day consumption is inflated to 60m per day, imagine what the savings can do if it is done transparently
that has nothing to do with or stop corruption. instead it'll favour blackmarketeers
Re: 2019 Presidency: How PDP Exposed Atiku’s Ignorance – Oby Ezekwesili by BlacDonaldTrump(m): 2:28pm On Nov 03, 2018
ephemm:
She's just another spoiler.


There are over 50 political parties in the US, but only Democrats and Republicans take the White House.

Elections can only be won with the right political structures and not by rhetorics or social media followership.
Trump was a Democrat, he then defected to GOP, he got there and changed the narrative, imposing his ideas and got a cult followership.

As far as Nigeria's 2019 election is concerned, the only choice before us is APC or PDP. Anyone could decide to waste his or her vote where it would not count. Vote APC if you want us to continue this way, or PDP if you think there is ever another way out.

Any vote aside these 2 is just as good a vote for APC.

I disagree with your 50 political parties in the USA. I live in the USA and in fact I voted in the midterm elections yesterday. I know you are trying to make your point but pls with facts.
Thanks.
Re: 2019 Presidency: How PDP Exposed Atiku’s Ignorance – Oby Ezekwesili by obailala(m): 2:57pm On Nov 03, 2018
lexy2014:


U are talking about exchange rate and global price of oil. What has that got 2do with local production? Does NNPC import d crude it refines? D N70 u say NNPC will loose, were is it from? What is d breakdown? What is d breakdown of ur N150? What is d cost of refining a litre of PMS locally? Transportation, storage and other miscellaneous cost..what's d basis 4 all these costs and activities 4 local refining?
So you mean you did not understand a single thing in that explanation I gave earlier?... You probably were just in a hurry to respond, I doubt you read what I wrote. Kindly go back and re-read it (this time do it slowly), you will get all the answers to your question.
Re: 2019 Presidency: How PDP Exposed Atiku’s Ignorance – Oby Ezekwesili by chucks4sure: 3:01pm On Nov 03, 2018
efilefun:
With crude at $80/bbl and exchange rate at N305/$? (special fx by FG for importers)

A barrel of crude is about 159 liters of crude.

Just dividing the $80 (N24,400) by 159 liters already gives a price of N153.4/liter without any processing.

So, by the time you factor in refining and transportation costs, THERE IS NO WAY the price will come as low as the 85/90 naira price PDP are claiming to reduce the price to.

But the unfortunate blockhead yoots won't see thru the lies but keep screaming Atikulooting.

Why has exchange rate gone so high? When Buhari took over from GEJ it was N170/$ now it has gone to N305/$ in fact I have bought dollar N370. This is monumental failure. What was the price of fuel when he took over it was N85 now it is N145. Another failure. This man is seeking for second tenure.This is insane and ridiculous. As a medical doctor, I'm presicribing Atikumacyn and Obisunate to save Nigeria from sudden death. Nigeria is in emergency room.
Re: 2019 Presidency: How PDP Exposed Atiku’s Ignorance – Oby Ezekwesili by lexy2014: 3:16pm On Nov 03, 2018
obailala:
So you ean you did not understand a single thing in that explanation I gave earlier?... You probably were just in a hurry to respond, I doubt you read what I wrote. Kindly go back and re-read it (this time do it slowly), you will get all the answers to your question.

U haven't given any explanation my dear. U said absolutely nothing. U are using d indices of determining d cost of imported product to determine d cost of locally refined product. Does that make sense? If we are talking about local refining, then what has local refining got to do with foreign exchange and d global price of crude oil? Does NNPC import crude oil 4d purpose of local refining that u are talking about price of crude on d global market and foreign exchange? What has cost of transportation, storage got to do with local refining? What do u mean by miscellaneous costs? U need to break things down. So take ur time to read my last post and this and answer d questions I asked
Re: 2019 Presidency: How PDP Exposed Atiku’s Ignorance – Oby Ezekwesili by asuustrike1: 3:38pm On Nov 03, 2018
mimimile93:


There's no competent person yet. For now, Buhari is our only hope.
Buhari is not our hope, he lost it long ago
Re: 2019 Presidency: How PDP Exposed Atiku’s Ignorance – Oby Ezekwesili by ephemm(m): 3:46pm On Nov 03, 2018
BlacDonaldTrump:


I disagree with your 50 political parties in the USA. I live in the USA and in fact I voted in the midterm elections yesterday. I know you are trying to make your point but pls with facts.
Thanks.

Good, I hope you can read, follow the link below, after you do, quote me again and ask for more facts.
https://en.m.wikipedia.org/wiki/List_of_political_parties_in_the_United_States
Re: 2019 Presidency: How PDP Exposed Atiku’s Ignorance – Oby Ezekwesili by princdebola201(m): 3:47pm On Nov 03, 2018
chucks4sure:


Why has exchange rate gone so high? When Buhari took over from GEJ it was N170/$ now it has gone to N305/$ in fact I have bought dollar N370. This is monumental failure. What was the price of fuel when he took over it was N85 now it is N145. Another failure. This man is seeking for second tenure.This is insane and ridiculous. As a medical doctor, I'm presicribing Atikumacyn and Obisunate to save Nigeria from sudden death. Nigeria is in emergency room.
liar exchange rate was 280 when jonathan handover.
apc campaign posters was 218 per dollar 3 months to elections.
by may it has already move up to 280 before buhari was sworn in may 29
Re: 2019 Presidency: How PDP Exposed Atiku’s Ignorance – Oby Ezekwesili by obailala(m): 4:12pm On Nov 03, 2018
lexy2014:


U are talking about exchange rate and global price of oil. What has that got 2do with local production? Does NNPC import d crude it refines? D N70 u say NNPC will loose, were is it from? What is d breakdown? What is d breakdown of ur N150? What is d cost of refining a litre of PMS locally? Transportation, storage and other miscellaneous cost..what's d basis 4 all these costs and activities 4 local refining?
lexy2014:


U haven't given any explanation my dear. U said absolutely nothing. U are using d indices of determining d cost of imported product to determine d cost of locally refined product. Does that make sense? If we are talking about local refining, then what has local refining got to do with foreign exchange and d global price of crude oil? Does NNPC import crude oil 4d purpose of local refining that u are talking about price of crude on d global market and foreign exchange? What has cost of transportation, storage got to do with local refining? What do u mean by miscellaneous costs? U need to break things down. So take ur time to read my last post and this and answer d questions I asked
'Opportunity Cost', are you aware of that economic concept?.... If a fruit seller has 50 mangos which he intends to sell in the market place for N10 each, those 50 mangoes would fetch him N500 in total. But if he puts 20 of those mangoes aside and sells them to his family members for N5 each, his total income at the end of the day would be N400 (because he sold 20 mangoes at half the market price). N500 - N400 = N100; the seller has eventually lost N100 because he chose to 'subsidise' the price of the mangoes he sold to his family members. That N100 is the opportunity cost (or subsidy) the fruit seller incurs for providing cheap mangoes to his family.

Hopefully you now understand the concept of opportunity cost; so permit me to painstakingly go through my previous explanations again since you claim you didn't understand it.

You ask what exchange rate and global oil price has to do with local production. The first question you should ask yourself is, what exactly is the price value of crude?... At $80/barrel, that amounts to N24400 (at an exchange rate of N305). Now if 1 barrel of crude typically produces ~160 litres of petrol, what that means is that 1 litre of petrol has a base price of ~N152 (note that this amount is the barest minimum which even EXCLUDES the cost of refining, transportation, storage and other miscellaneous cost which are all inevitable; if we are to add those extra unavoidable costs, the base price of petrol will be well more than that N152). So in summary, this paragraph has explained that $80/bbl crude = N152/litre petrol; I hope you now understand where the N152 figure came from?

This then brings us to the next point; "What has that N152 got to do with local production?" This is where the basic economic concept of 'OPPORTUNITY COST' comes in to play. Nigeria sells it's oil in the global market at global price of $80/bbl crude (which is equivalent to N152/litre petrol). Even though Nigeria is a producing country, crude oil isn't an infinite commodity which we can just churn out a limitless volume any time we want; at each point in time, Nigeria only has a limited quantity to sell. So therefore, if Nigeria now decides to reserve some of that crude which it could have sold internationally for $80/bbl (N152/litre petrol), and then refine it locally and sell petrol locally for N80/litre (as opposed to the N152/litre which it could have been sold for if it was sold internationally), instead of making ~N152/litre, the government will now make only N80/litre; i.e. a loss of N72 for every litre of petrol sold locally. That loss of N72/litre is the opportunity cost the govt incurs for selling petrol cheaply at a price which is lower than the international going rate; that's N72 will invariably be a SUBSIDY paid by govt to give Nigerians affordable petrol.

I sincerely hope you now get the logic.

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