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I Admit That We Failed To Give Nigerians Refinery –Kachikwu - Politics (2) - Nairaland

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Re: I Admit That We Failed To Give Nigerians Refinery –Kachikwu by Heffe: 1:21pm On Jun 08, 2019
tactius:
Because NNPC cannot, under fuel subsidy , make the profit that is needed to build a refinery...without taking extra loans.

Shut d fxck up and quit making excuses..
Re: I Admit That We Failed To Give Nigerians Refinery –Kachikwu by Heffe: 1:27pm On Jun 08, 2019
Parada:
This is another Igbo failure foolish cursed PDP Igbos n Ipob will not wail about. Imagine if this was Tinubu or Sanwo come we their fathers wail.
Dont u guys get tired of this bullshit? Instead of u getting real angry and aggressive that the govt.of the is clueless and wasteful, u r here saying rubbish

1 Like 1 Share

Re: I Admit That We Failed To Give Nigerians Refinery –Kachikwu by Nobody: 1:30pm On Jun 08, 2019
Heffe:

Shut d fxck up and quit making excuses..

Your use of abuse reflects badly on you.

Think about that

Good afternoon to you too, sir. And yes, I don't agree with you.
Re: I Admit That We Failed To Give Nigerians Refinery –Kachikwu by Nobody: 1:37pm On Jun 08, 2019
Omooba77:
Former Minister of State for Petroleum Resources, Dr Ibe Kachikwu, speaks with journalists on a wide range of issues, including challenges he faced while in office. OLUSOLA FABIYI, who was part of the team, reports

Do you think you have set the industry along the right path and is there anything else to be done to take it to what President Muhammadu Buhari called the ‘next level’?

You are absolutely right and that is why if you listened to the video, you would realise that it was talking about continuity and being able to sustain what was ongoing. I think one of the things we have done is to ‘socialise’ the policies. We went to the Federal Executive Council, we passed the Petroleum Industry Bill, we passed the gas policy, and we have submitted the final copies of the fiscal policy. That wasn’t taken unfortunately. The things that we have done around gas specialisation came out from there; the refinery project that we want to kick off came out from there. Infrastructure project and Niger Delta militancy also came out from there. We worked very closely with the National Assembly on the passage of the bills so I strongly believe that the policies are fantastic but the biggest thing is to make them laws. Unfortunately the very first one, which is the mother of legislation, the Petroleum Industry Governance Bill, was not signed by the President because of few amendments, some of which we supported but that is being done by the National Assembly and should probably be ready now.

You were unable to give Nigerians refineries as promised as well?

You are right. It is one area where I think we did not deliver the mandate and I am bold enough to say that. Recently, I think I saw something like ‘Kachikwu failed to deliver on his five promises on refineries’. I think it is a misunderstanding of how the system works. I started within as Group Managing Director and also as Minister of State at that point; most of the powers and work were centered on me. If you look at the refineries, the first problem we had was that they were not functioning when I assumed office in 2015 and because of the huge apparent fuel scarcity; it was a major problem for me if I had to wait for vessels to arrive each time to meet the delivery timeline. These were the problems. So I was focused on how to get them working, at least to start, no matter how little and all they gave me was one million litres a day.

The pipelines that were supplying fuel had all been destroyed and they had entered into a contract before we came in, to supply product by vessels. The cost of those vessels supplied was more than the value of the crude oil that was being supplied. It did not make any financial sense. So I cancelled that and challenged Nigerians who were in this entity to go and use their money to repair the pipelines.

https://punchng.com/i-admit-that-we-failed-to-give-nigerians-refinery-kachikwu/amp/

grin grin.

Ibe Kachiukwu is tired of all these. He doesn't want his post anymore and so he's trying to get himself sacked by the dullard
Re: I Admit That We Failed To Give Nigerians Refinery –Kachikwu by sapientia(m): 1:40pm On Jun 08, 2019
Then resign.

PrecisionFx:


grin grin.

Ibe Kachiukwu is tired of all these. He doesn't want his post anymore and so he's trying to get himself sacked by the dullard

No allow too much sense kill you ooo grin grin grin

1 Like 1 Share

Re: I Admit That We Failed To Give Nigerians Refinery –Kachikwu by Parada: 1:42pm On Jun 08, 2019
Foolish PDP supporters assume everyone should simply be as foolish n senseless as they have chosen to be cos of bigotry forgetting some of us have functional brains n vividly remember the endemic years of ruins cursed PDP supervised in Nigerian before we have the manageable underperforming APC.
Heffe:

Dont u guys get tired of this bullshit? Instead of u getting real angry and aggressive that the govt.of the is clueless and wasteful, u r here saying rubbish
Re: I Admit That We Failed To Give Nigerians Refinery –Kachikwu by Heffe: 1:44pm On Jun 08, 2019
tactius:


Your use of abuse reflects badly on you.

Think about that

Good afternoon to you too, sir. And yes, I don't agree with you.
Bro atleast use your brain ones in a while
Think about it
Re: I Admit That We Failed To Give Nigerians Refinery –Kachikwu by Nobody: 1:45pm On Jun 08, 2019
Heffe:

Bro atleast use your brain ones in a while
Think about it

I have modified my previous comment

Read it.

And you are still abusing me....so I'll have to call you a blessed man.

Good afternoon, and good day to you too.
Re: I Admit That We Failed To Give Nigerians Refinery –Kachikwu by davoiceoftruth: 2:07pm On Jun 08, 2019
U never failed to give us, U just lied to us.
Re: I Admit That We Failed To Give Nigerians Refinery –Kachikwu by Paperwhite(m): 2:09pm On Jun 08, 2019
And these are the shameless idiots Nigerians called leaders
Re: I Admit That We Failed To Give Nigerians Refinery –Kachikwu by fineboynl(m): 2:19pm On Jun 08, 2019
grin if this is not yahoo Yahoo. what then it is?
we are talking of billions on turn around maintenance.
and the EFCC is busy chasing the youth.
British is to be blame for Nigeria woes and problem.
Re: I Admit That We Failed To Give Nigerians Refinery –Kachikwu by arantess: 2:26pm On Jun 08, 2019
Amuocha:
Sai Buhari grin

Useless outgoing minister of state for petroleum, useless nominee from Exxon Mobil ...nonsense first class that can n ot deliver angry

Useless APC politician..that put us into hardship N145/per litre/pms.

Buhari present a Third Class home grown graduate for this job and see sad
Both ibe and buhari are scammers

1 Like 1 Share

Re: I Admit That We Failed To Give Nigerians Refinery –Kachikwu by hecomeshome(m): 2:32pm On Jun 08, 2019
Amuocha:
Sai Buhari grin

Useless outgoing minister of state for petroleum, useless nominee from Exxon Mobil ...nonsense first class that can n ot deliver angry

Useless APC politician..that put us into hardship N145/per litre/pms.

Buhari present a Third Class home grown graduate for this job and see sad

Buhari is the minister of petroleum resources, and he's the one to be blamed, not Ibe. Mind you, Ibe takes orders from Bubu.
So, don't ever exempt bubu from that ministry's failure.

2 Likes

Re: I Admit That We Failed To Give Nigerians Refinery –Kachikwu by Sonnobax15(m): 2:53pm On Jun 08, 2019
Another biafran who failed niqerian woefully!
Re: I Admit That We Failed To Give Nigerians Refinery –Kachikwu by Nobody: 3:01pm On Jun 08, 2019
This man and lies. That's how he claimed he has a first class till his yansh was opened. When did FEC start passing bills?
The refineries after the 2013-15 TAM was working at 30% capacity when bubu took over office. Some ignoramuses attributed it his body odour then. Now this liar is claiming they were never working. Just admit you eventually killed them by burdening the NNPC with fuel importation and exploration in the north.
If you have no achievements to point to, I can help you. At least you helped dangote source N75bn worth of dollars from CBN for his refineries. The question is what's in it for you cause we know nothing goes for nothing in Nigeria.
Re: I Admit That We Failed To Give Nigerians Refinery –Kachikwu by Nobody: 3:09pm On Jun 08, 2019
tactius:
Because NNPC cannot, under fuel subsidy , make the profit that is needed to build a refinery...without taking extra loans.

Modified

Since I wrote this comment, I have recieved a lot of responses , including some abuse.

I brief....we are selling fuel at N145. Actual cost is N200 to import it. And we import over 60% of the fuel we consume here. And the government is forcing NNPC to sell fuel at N145 to marketers

The problem is, with such price controls,no one wants to come and invest in the petrol sector. If there were no price controls...if marketers were allowed to sell fuel at the price they want...we would have had investors coming in to make their profit by investing in things like relfieries, and so on...and this brings down prices eventually.

We were here before , with the GSM industry. Because Obasanjo refused to subsidise GSM....GSM companies made their profits and invested in a lot of facilites with the aim of growing their business. And competition did its thing and brought prices down.(All the GSM antenna, and cables were put there by the GSM companies...government did not spend a kobo).

And to anyone thinking Dangote will save us...Dangote is not going to refine fuel at N150 and above and sell it at N145 PER liter. He would lose money. So, he is either going to export, or subsidy goes.

That's why I think subsidy should go. Yes, we would pay N250 and above for fuel. But in Niger, Cameroon and Benin, they pay over N280 per liter of fuel...and Benin, Cameroon , even Niger are oil producers. But investment, and competiton would bring prices down, and jobs would be created.

Cheap fuel is cursing our economy. Time we faced reality. Because all this subsidy is being used to feed corrupt subsidy scammers in government and society. If you like, abuse and curse me. Reality is harsh. We cannot run bsinesses in this country as welfare organisations.

You have come again. Not been able to maintain the refinery is not due to subsidy. The previous govt paid subsidies and worked on the refineries. The major problem is the political will. This govt focused NNPC on two major assignments. Sole fuel importation and oil exploration the north. That's why they couldn't sustain the TAM started in 2013.
Where did you get the cost of refining to be N150?
I'm sure it's ur assumption simply to buttress your claim. Besides, dangote for all you know can be allowed to lift crude oil freely which will definitely bring down his cost of production.

Subsidy removal is not a one size fits all. The real solution is local refining. Stop comparing Nigeria with Niger, Ghana, Benin etc. That's self defeatist
Re: I Admit That We Failed To Give Nigerians Refinery –Kachikwu by shugamummy: 3:12pm On Jun 08, 2019
Show us your analysis in 2012 when subsidy was removed and even your campaigns during the run to the 2019 general elections. Aside that we are in Next Level. Enjoy it as it is just one week old


tactius:
Because NNPC cannot, under fuel subsidy , make the profit that is needed to build a refinery...without taking extra loans.

Modified

Since I wrote this comment, I have recieved a lot of responses , including some abuse.

I brief....we are selling fuel at N145. Actual cost is N200 to import it. And we import over 60% of the fuel we consume here. And the government is forcing NNPC to sell fuel at N145 to marketers

The problem is, with such price controls,no one wants to come and invest in the petrol sector. If there were no price controls...if marketers were allowed to sell fuel at the price they want...we would have had investors coming in to make their profit by investing in things like relfieries, and so on...and this brings down prices eventually.

We were here before , with the GSM industry. Because Obasanjo refused to subsidise GSM....GSM companies made their profits and invested in a lot of facilites with the aim of growing their business. And competition did its thing and brought prices down.(All the GSM antenna, and cables were put there by the GSM companies...government did not spend a kobo).

And to anyone thinking Dangote will save us...Dangote is not going to refine fuel at N150 and above and sell it at N145 PER liter. He would lose money. So, he is either going to export, or subsidy goes.

That's why I think subsidy should go. Yes, we would pay N250 and above for fuel. But in Niger, Cameroon and Benin, they pay over N280 per liter of fuel...and Benin, Cameroon , even Niger are oil producers. But investment, and competiton would bring prices down, and jobs would be created.

Cheap fuel is cursing our economy. Time we faced reality. Because all this subsidy is being used to feed corrupt subsidy scammers in government and society. If you like, abuse and curse me. Reality is harsh. We cannot run bsinesses in this country as welfare organisations.

Re: I Admit That We Failed To Give Nigerians Refinery –Kachikwu by seguno2: 3:20pm On Jun 08, 2019
tactius:
Because NNPC cannot, under fuel subsidy , make the profit that is needed to build a refinery...without taking extra loans.

Modified

Since I wrote this comment, I have recieved a lot of responses , including some abuse.

I brief....we are selling fuel at N145. Actual cost is N200 to import it. And we import over 60% of the fuel we consume here. And the government is forcing NNPC to sell fuel at N145 to marketers

The problem is, with such price controls,no one wants to come and invest in the petrol sector. If there were no price controls...if marketers were allowed to sell fuel at the price they want...we would have had investors coming in to make their profit by investing in things like relfieries, and so on...and this brings down prices eventually.

We were here before , with the GSM industry. Because Obasanjo refused to subsidise GSM....GSM companies made their profits and invested in a lot of facilites with the aim of growing their business. And competition did its thing and brought prices down.(All the GSM antenna, and cables were put there by the GSM companies...government did not spend a kobo).

And to anyone thinking Dangote will save us...Dangote is not going to refine fuel at N150 and above and sell it at N145 PER liter. He would lose money. So, he is either going to export, or subsidy goes.

That's why I think subsidy should go. Yes, we would pay N250 and above for fuel. But in Niger, Cameroon and Benin, they pay over N280 per liter of fuel...and Benin, Cameroon , even Niger are oil producers. But investment, and competiton would bring prices down, and jobs would be created.

Cheap fuel is cursing our economy. Time we faced reality. Because all this subsidy is being used to feed corrupt subsidy scammers in government and society. If you like, abuse and curse me. Reality is harsh. We cannot run bsinesses in this country as welfare organisations.

Did they not remove the subsidy already when they increased the fuel price to N145 from N87 even though oil price was down
Why are they stealing our money?
Re: I Admit That We Failed To Give Nigerians Refinery –Kachikwu by Nobody: 3:24pm On Jun 08, 2019
shugamummy:
Show us your analysis in 2012 when subsidy was removed and even your campaigns during the run to the 2019 general elections. Aside that we are in Next Level. Enjoy it as it is just one week old



1. I had not heard of Nairaland in 2012...so I can't show you anything here

2.However, I can tell you that back in 2012....GEJ increased prices from N65 to N140. At the time, the landing cost of fuel was N99 per liter.

3.The massive protests that occured then forced GEJ to reduce prices to N97...and then to N87 in 2015

4.Unfortunately, landing prices continued to rise to N132 by 2016 from N99 in 2012.

5.This had the effect of making it difficult for government to keep on subsidising fuel,(and indeed that is one of the reasons why GEJ was unable to save...because he was pouring money down the bottomless pit of subsidy to keep prices low)

6. Marketers were losing money per liter of fuel sold...because as at 2013....marketers were importing fuel at N100 and above, and selling at N97...losing at least N3 per liter.

7.Scarcitiy resulted. Also by 2014...many filling stations outside the big cities of Lagos and Abuja were selling fuel above the N97 price.

8. Buhari came in, met landing costs at N132...raised prices to N145 to releive the pressure and made NNPC the sole importer of fuel so as to minimize pressure on marketers.

9.But what is now happening is that NNPC is losing money importing fuel at a loss, low earnings from oil since 2014 is making it even more difficult to pay subsidy, and we are reaching a breaking point.

10. Summing up...back in 2012...I backed GEJ when he removed subsidy. 2012 was the year I began to see why subsidy had to go.

11.As I regard APC and PDP as the same corrupt old houses, your next level joke falls flat.

12.Either we have oil jumping above $139 per barrel so that we can have the cash to pay for subsides....or we take a loan...or subsidy goes.

2 Likes

Re: I Admit That We Failed To Give Nigerians Refinery –Kachikwu by Nobody: 3:32pm On Jun 08, 2019
seguno2:


Did they not remove the subsidy already when they increased the fuel price to N145 from N87 even though oil price was down
Why are they stealing our money?

As at the time the price was raised to N145...the cost of importing fuel was at N132. (We were selling it at N87 then)..meaning that most marketers were losing at least N40 per liter of fuel sold.

Meanwhile , the crude oil price was below $30. We need it to be at least $139 according to Fitch to keep a well balanced budget. So, not enough money for subsides. And government due to the unsustainability of subsidy since at least 2012 (something GEJ anticipated..which was why he increased prices from N65 to N140...but Nigerians !) was owing marketers debts from 2013...which were spiralling out of control.

At the same time, many marketers were stealing subsidy money. The N87 price was not letting them make a profit. So they did either or both of two things

1.Smuggle fuel to neighbouring countries , where fuel retailed at much higher prices

2.Make subsidy claims for fuel not imported.

If they did nto do this, they would have been broke in months...and there could have been massive job losses in the fuel industry as early as 2013.

Bubu removed subsidy...no he really did not. What he did was what most of our governments have been doing for years. They partially remove subsidy. Buhari just raised prices to N145...and kept them there...ending subsidy, buying some time for government...until landing costs went above N150 PER LTER...now at N200 per liter. That's when underrecovery came in (which is not very sustainable).

The problem is, you cannot run a business with price controls.
Re: I Admit That We Failed To Give Nigerians Refinery –Kachikwu by Nobody: 3:40pm On Jun 08, 2019
Buckubuck:

You have come again. Not been able to maintain the refinery is not due to subsidy. The previous govt paid subsidies and worked on the refineries. The major problem is the political will. This govt focused NNPC on two major assignments. Sole fuel importation and oil exploration the north. That's why they couldn't sustain the TAM started in 2013.
Where did you get the cost of refining to be N150?
I'm sure it's ur assumption simply to buttress your claim. Besides, dangote for all you know can be allowed to lift crude oil freely which will definitely bring down his cost of production.


The previous government did not work on the refineries at all....or would we have been having fuel scarcity during 2013 and 14 and early 15? (I should know...I was driving a car and still drive ). And there has been no Turn around maintenance on refinereis for over 19 years...till the recent one on Port Harcourt.

Also the preivious government was unable to sustain subsides, plus subsides don't allow marketers make a profit. If the previous government was paying subsidies, why was the Buhari admin settling subsidy bills from 2013 last December??

And even then on refineries....at full capacity, our 4 NNPC refienries can produce less than 30m liters of fuel a day. Nigeria needs as much as 50-70m liters per day.

(Note..GEJ tried to solve some of these problems by raising prices. If he had raised prices to N140 a liter in 2012 as planned...we would have not had the massive debts to be paid off in 2019. The funny thing is that APC who backed the protests of 2012...had to pay the debts in 2019. Karma).


Subsidy removal is not a one size fits all. The real solution is local refining. Stop comparing Nigeria with Niger, Ghana, Benin etc. That's self defeatist

Yes, but no one is going to invest in refineries and be selling fuel refined there below the prodcutiion price. Especially Dangote...who took massive loans to build his refneries.
Re: I Admit That We Failed To Give Nigerians Refinery –Kachikwu by seguno2: 3:50pm On Jun 08, 2019
tactius:
As at the time the price was raised to N145...the cost of importing fuel was at N132. (We were selling it at N87 then)..meaning that most marketers were losing at least N40 per liter of fuel sold.

Meanwhile , the crude oil price was below $30. We need it to be at least $139 according to Fitch to keep a well balanced budget. So, not enough money for subsides. And government due to the unsustainability of subsidy since at least 2012 (something GEJ anticipated..which was why he increased prices from N65 to N140...but Nigerians !) was owing marketers debts from 2013...which were spiralling out of control.

At the same time, many marketers were stealing subsidy money. The N87 price was not letting them make a profit. So they did either or both of two things

1.Smuggle fuel to neighbouring countries , where fuel retailed at much higher prices

2.Make subsidy claims for fuel not imported.

If they did nto do this, they would have been broke in months...and there could have been massive job losses in the fuel industry as early as 2013.

Bubu removed subsidy...no he really did not. What he did was what most of our governments have been doing for years. They partially remove subsidy. Buhari just raised prices to N145...and kept them there...ending subsidy, buying some time for government...until landing costs went above N150 PER LTER...now at N200 per liter. That's when underrecovery came in (which is not very sustainable).

The problem is, you cannot run a business with price controls.

If the bold part is true, why did Nigerians refuse the subsidy removal? Why did they remove Jonathan instead
Re: I Admit That We Failed To Give Nigerians Refinery –Kachikwu by Nobody: 3:54pm On Jun 08, 2019
tactius:



The previous government did not work on the refineries at all....or would we have been having fuel scarcity during 2013 and 14 and early 15? (I should know...I was driving a car and still drive ). And there has been no Turn around maintenance on refinereis for over 19 years...till the recent one on Port Harcourt.

Also the preivious government was unable to sustain subsides, plus subsides don't allow marketers make a profit. If the previous government was paying subsidies, why was the Buhari admin settling subsidy bills from 2013 last December??

And even then on refineries....at full capacity, our 4 NNPC refienries can produce less than 30m liters of fuel a day. Nigeria needs as much as 50-70m liters per day.

(Note..GEJ tried to solve some of these problems by raising prices. If he had raised prices to N140 a liter in 2012 as planned...we would have not had the massive debts to be paid off in 2019. The funny thing is that APC who backed the protests of 2012...had to pay the debts in 2019. Karma).




Yes, but no one is going to invest in refineries and be selling fuel refined there below the prodcutiion price. Especially Dangote...who took massive loans to build his refneries.


Read this
https://shipsandports.com.ng/nnpc-refineries-gulp-396-33m-for-tam-in-10-years.
There was TAm by the Jonathan adminstration even if not comprehensive, it got the refineries up. This govt simply refused to sustain it.
Re: I Admit That We Failed To Give Nigerians Refinery –Kachikwu by dbestuncle: 3:55pm On Jun 08, 2019
tactius:
Because NNPC cannot, under fuel subsidy , make the profit that is needed to build a refinery...without taking extra loans.

Modified

Since I wrote this comment, I have recieved a lot of responses , including some abuse.

I brief....we are selling fuel at N145. Actual cost is N200 to import it. And we import over 60% of the fuel we consume here. And the government is forcing NNPC to sell fuel at N145 to marketers

The problem is, with such price controls,no one wants to come and invest in the petrol sector. If there were no price controls...if marketers were allowed to sell fuel at the price they want...we would have had investors coming in to make their profit by investing in things like relfieries, and so on...and this brings down prices eventually.

We were here before , with the GSM industry. Because Obasanjo refused to subsidise GSM....GSM companies made their profits and invested in a lot of facilites with the aim of growing their business. And competition did its thing and brought prices down.(All the GSM antenna, and cables were put there by the GSM companies...government did not spend a kobo).

And to anyone thinking Dangote will save us...Dangote is not going to refine fuel at N150 and above and sell it at N145 PER liter. He would lose money. So, he is either going to export, or subsidy goes.

That's why I think subsidy should go. Yes, we would pay N250 and above for fuel. But in Niger, Cameroon and Benin, they pay over N280 per liter of fuel...and Benin, Cameroon , even Niger are oil producers. But investment, and competiton would bring prices down, and jobs would be created.

Cheap fuel is cursing our economy. Time we faced reality. Because all this subsidy is being used to feed corrupt subsidy scammers in government and society. If you like, abuse and curse me. Reality is harsh. We cannot run bsinesses in this country as welfare organisations.


You are Right.
APC is a party of great liars. they told too much lies in 2015 just to make this things look simple and for us to curse PDP. Now that they are in, they didn't have the balls too.
For this country to transform into what we want, we must b willing to pay the sacrifice.
Re: I Admit That We Failed To Give Nigerians Refinery –Kachikwu by Nobody: 3:58pm On Jun 08, 2019
seguno2:


If the bold part is true, why did Nigerians refuse the subsidy removal? Why did they remove Jonathan instead

Bros...see as people dey abuse me anytime I suggest subsidy removal...and you would understand why.

The thing is, back in 2012...when GEJ increased the thing from N65 to N140, later beaten down to N97...people like me understood why...especially when I read back then about the landing cost issue.(I'm not a PDP supporter...but sometimes one has to think about why some decisions are made instead of blindly criticising).

But for most Nigerians...all they saw was 'PRICES HAVE GONE UP FROM N65 TO N140. GOVERNMENT IS WICKED'.Not the long term benefits of increased investment, profits that could be reinvested in the industry and massive savings for government...

Even the 2016 price increase...the reason why Nigerians tolerated it was largely because oil prices were down to $30 per barrel and dropping. No money...plus the rumor was that Kalichukwu and Emefiele strongly adviced Buhari to do it..otherwise Buhari would have kept price at N87 (because that's what politicans do...take the popular decisions...even at the cost of the economy).

In my opinion...Nigerians tend to think from day to day, not longterm. So trying to explain things from a long term view to Nigerians is like speaking to them in Esperanto.

1 Like 1 Share

Re: I Admit That We Failed To Give Nigerians Refinery –Kachikwu by Nobody: 4:00pm On Jun 08, 2019
dbestuncle:


You are Right.
APC is a party of great liars. they told too much lies in 2015 just to make this things look simple and for us to curse PDP. Now that they are in, they didn't have the balls too.
For this country to transform into what we want, we must b willing to pay the sacrifice.

Yes, that's why I knew APC was not serious when they started talking about fuel at N40 PER liter. With which money would they pay the subsidy??

But the thing is...when it comes to fuel pricing...Nigerians don't want to hear the truth. As far as we are concerend, we are an oil priducing country, therefore we must have cheap oil...even at the expense of our economy.
Re: I Admit That We Failed To Give Nigerians Refinery –Kachikwu by shugamummy: 4:04pm On Jun 08, 2019
Oh sorry, you were not part of Nairaland in 2012. Lesson forget you were also not part of the war against Indiscipline in the 80's. Maybe you should read back about war against Indiscipline and then compare it with war against corruption. Then try to explain this analysis to an average Aboki and come back with your plot of what the Next Level holds. Interswitch said they are going to ball in this Next Level, I and my family shall continue to ball even beyond the next level that's all that I care.

tactius:


1. I had not heard of Nairaland in 2012...so I can't show you anything here

2.However, I can tell you that back in 2012....GEJ increased prices from N65 to N140. At the time, the landing cost of fuel was N99 per liter.

3.The massive protests that occured then forced GEJ to reduce prices to N97...and then to N87 in 2015

4.Unfortunately, landing prices continued to rise to N132 by 2016 from N99 in 2012.

5.This had the effect of making it difficult for government to keep on subsidising fuel,(and indeed that is one of the reasons why GEJ was unable to save...because he was pouring money down the bottomless pit of subsidy to keep prices low)

6. Marketers were losing money per liter of fuel sold...because as at 2013....marketers were importing fuel at N100 and above, and selling at N97...losing at least N3 per liter.

7.Scarcitiy resulted. Also by 2014...many filling stations outside the big cities of Lagos and Abuja were selling fuel above the N97 price.

8. Buhari came in, met landing costs at N132...raised prices to N145 to releive the pressure and made NNPC the sole importer of fuel so as to minimize pressure on marketers.

9.But what is now happening is that NNPC is losing money importing fuel at a loss, low earnings from oil since 2014 is making it even more difficult to pay subsidy, and we are reaching a breaking point.

10. Summing up...back in 2012...I backed GEJ when he removed subsidy. 2012 was the year I began to see why subsidy had to go.

11.As I regard APC and PDP as the same corrupt old houses, your next level joke falls flat.

12.Either we have oil jumping above $139 per barrel so that we can have the cash to pay for subsides....or we take a loan...or subsidy goes.
Re: I Admit That We Failed To Give Nigerians Refinery –Kachikwu by ifyboy60(m): 4:08pm On Jun 08, 2019
simonlee:
refinery that have not refined a drop of crude oil since July 2018...
LMAO. u kukuma no send, nothing do u jare.

1 Like

Re: I Admit That We Failed To Give Nigerians Refinery –Kachikwu by Nobody: 4:09pm On Jun 08, 2019
Buckubuck:


Read this
link

There was TAm by the Jonathan adminstration even if not comprehensive, it got the refineries up. This govt simply refused to sustain it.

1.Even if it was comprehensive...the thing is, all our four refineries at full capacity (and even with all the millions spent...they were never able to get capacity above 50%...which is what your link said by the way) cannot meet our domestic needs.

The last refinery we built in Nigeria was commissioned in 1988. Since then, the number of cars in this country has increased.

And even then, as far back as 1990...we were having scarcity of fuel partly because (my opinion) all the four refienreis could not meet demand adequately.

2.The article you quoted gives figures from 1998-2008. (not complete, better details here)
Re: I Admit That We Failed To Give Nigerians Refinery –Kachikwu by dbestuncle: 4:11pm On Jun 08, 2019
tactius:


Yes, that's why I knew APC was not serious when they started talking about fuel at N40 PER liter. With which money would they pay the subsidy??

But the thing is...when it comes to fuel pricing...Nigerians don't want to hear the truth. As far as we are concerend, we are an oil priducing country, therefore we must have cheap oil...even at the expense of our economy.
Nigerians don't want to hear o, that u want to add 1kobo to fuel. na die b DAT o.
I think this is because in Nigeria
1. our leaders are never sincere with us. they never take our trust seriously. no truth at the corridors of power n this make it difficult for us to trust them. they will say it, get the money n do something else with d funds.
2. everything is affected once the price of fuel is affected.

1 Like

Re: I Admit That We Failed To Give Nigerians Refinery –Kachikwu by biztip: 4:26pm On Jun 08, 2019
same way ur Oga buhari has failed in everything except creating more poverty in d land
Re: I Admit That We Failed To Give Nigerians Refinery –Kachikwu by Isnow: 4:38pm On Jun 08, 2019
donbachi:
Bobrisky was even more reliable last 4yrs than buhari and his apc government...he cut off his preeq,added bumbum,bleached and grew breast...still buy benz...c'mon refinery,school feeding,power supply,health care etc..una no fit.

hahaha..but is trueooo

nwokem you wld HV said u failed woefully not that we failed am not included n' ida apu ala

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