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We Will Fix Refineries With Money Saved From Subsidy Removal - Timipre Sylva - Politics - Nairaland

Nairaland Forum / Nairaland / General / Politics / We Will Fix Refineries With Money Saved From Subsidy Removal - Timipre Sylva (14365 Views)

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We Will Fix Refineries With Money Saved From Subsidy Removal - Timipre Sylva by Racoon(m): 11:28am On Sep 11
The Federal Government says the deregulation of the petroleum downstream sub-sector would enable it to rake in over N1trn annually for the development of the country.

The Minister of State for Petroleum Resources, Timipre Sylva, told newsmen in Abuja on Thursday that with deregulation, the government would fix the moribund refineries in the country to make them commercially viable and create more jobs for the citizens.


“Talking about refineries; what we’ve done is to sequence the rehabilitation of the refineries. We’re going to start first with Port Harcourt refinery.

“In Port Harcourt, we have two refineries; the old refinery and the new refinery with 60,000 and 250,000 barrels capacity respectively.

“Now, there’s going to be a third refinery within Port Harcourt which is going to collocate, it’s going to be a private refinery in Port Harcourt.

“That project will be signed in the fourth quarter of 2020. And by the first quarter of 2021, work will start in earnest. Discussions are ongoing with rehabilitations of Warri and Kaduna as well.

“It’s time for Nigerians to face reality and do the right thing. What is deregulation going to do? It’s going to free up a lot more money.

“At least, from the very beginning, it’ll save us up to a trillion and more every year. Already, we’ve taken up the budgetary provision for subsidy which is about N500bn in the budget.

“Also, we’ve taken off the excess forex price that special rate given to NNPC which also came at a cost. So, all the money that we used to defend the Naira at that time to subsidise the dollar will now be freed up for development.

https://dailytrust.com/well-fix-refineries-with-money-saved-from-subsidy-removal-fg

1 Like

Re: We Will Fix Refineries With Money Saved From Subsidy Removal - Timipre Sylva by Edaniels9(m): 11:30am On Sep 11
2050 agenda....biko tell that to the gullible ones

132 Likes 9 Shares

Re: We Will Fix Refineries With Money Saved From Subsidy Removal - Timipre Sylva by MAGG0T(m): 11:32am On Sep 11
Buhari, APC, His suppoters..

Are all USELESS...nothing good about them.

134 Likes 13 Shares

Re: We Will Fix Refineries With Money Saved From Subsidy Removal - Timipre Sylva by Racoon(m): 11:32am On Sep 11
“Talking about refineries; what we’ve done is to sequence the rehabilitation of the refineries. We’re going to start first with Port Harcourt refinery.
They want to tell us another story again.Nigerians do you agree?

84 Likes 5 Shares

Re: We Will Fix Refineries With Money Saved From Subsidy Removal - Timipre Sylva by donbachi(m): 11:32am On Sep 11
U no build house with ur salary while working for 35 years..na pension money u wan use build house...who does dat?

127 Likes 8 Shares

Re: We Will Fix Refineries With Money Saved From Subsidy Removal - Timipre Sylva by babyfaceafrica: 11:32am On Sep 11
This is super story

40 Likes 3 Shares

Re: We Will Fix Refineries With Money Saved From Subsidy Removal - Timipre Sylva by Forsageofficial(m): 11:32am On Sep 11

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Re: We Will Fix Refineries With Money Saved From Subsidy Removal - Timipre Sylva by PlayerMeji: 11:33am On Sep 11
Hmmm... I am yet to see a government in Nigeria where the citizens do not believe a word that comes out of it like this Buhari's government.

It's just so pathetic that Buhari's incorrigible demeanor has been exposed for all to see that people change and Buhari changed.

31 Likes 1 Share

Re: We Will Fix Refineries With Money Saved From Subsidy Removal - Timipre Sylva by Racoon(m): 11:33am On Sep 11
This is another scam or corruption loading.Kyari & Sylva should perish that idea.If after promising 4 refineries in its first term but only apologized for failure to fulfill same.

"..Nigeria’s former  Minister of Petroleum Resources, Ibe Kachikwu,has admitted the failure of President Buhari’s administration to give Nigerians refinery as promised in the run-up to the 2015 presidential election...
http://saharareporters.com/2019/06/08/buharis-administration-failed-nigerians-not-building-refinery-promised-kachikwu

El Rufai once recommended that the NNPC should be privatised but the corruption therein is so sweet.Atiku said same thing but myopic reason will not allow people to see the good side of it.Now after consuming chunk of Nigeria's resources, the moribund refineries are up for another corruption in the name of rehabilitation or TAM. So who is fooling who in this nation?

All the agitations for protests now should have been uncalled for if the APC allowed the subsidy of 2012 to be removed.Now, after COVID19 economic meltdown, they're now adding this burden.It's needful but the timing is bad.So kindly privatize & see how it goes.Enough!

22 Likes 2 Shares

Re: We Will Fix Refineries With Money Saved From Subsidy Removal - Timipre Sylva by Racoon(m): 11:34am On Sep 11
“.... Already, we’ve taken up the budgetary provision for subsidy which is about N500bn in the budget.Also, we’ve taken off the excess forex price that special rate given to NNPC which also came at a cost. So, all the money that we used to defend the Naira at that time to subsidise the dollar will now be freed up for development.
They have been paying the subsidy they called a fraud hence milking this nation under the NNPC.Lies always have a beginning and also an end.

20 Likes 1 Share

Re: We Will Fix Refineries With Money Saved From Subsidy Removal - Timipre Sylva by ZombieTERROR: 11:38am On Sep 11
God punish APc and their zombie supporters...

Bloody useless government..

You looted all borrowed funds... Its only subsidy funds that can fix refinery

22 Likes 4 Shares

Re: We Will Fix Refineries With Money Saved From Subsidy Removal - Timipre Sylva by IamCookie(f): 11:39am On Sep 11
BIG FAT LIE

11 Likes 2 Shares

Re: We Will Fix Refineries With Money Saved From Subsidy Removal - Timipre Sylva by History555: 11:41am On Sep 11
.....

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Re: We Will Fix Refineries With Money Saved From Subsidy Removal - Timipre Sylva by Openbusiness: 11:42am On Sep 11
Hahahahahahahahahahahahahahahahahahahahahaha grin

7 Likes

Re: We Will Fix Refineries With Money Saved From Subsidy Removal - Timipre Sylva by realstars: 11:48am On Sep 11
If Them Do Somehow, We Blow It Up One Time.

1 Like

Re: We Will Fix Refineries With Money Saved From Subsidy Removal - Timipre Sylva by baralatie(m): 12:01pm On Sep 11
Openbusiness:
Hahahahahahahahahahahahahahahahahahahahahaha grin
it is funny in a way!
The govt pays for subsidy through its own federation acct and not the nnpc account.Nnpc that is collecting money in full did it repair it's refineries.
The reason fg cannot sustain payments is because it can no longer get that dollars to give importers and at the same time pay the services of importers with dollars they want to collect from loan givers.
it is plausibly correct to say the fg cannot repair it's refineries.it does not have that money.

4 Likes 1 Share

Re: We Will Fix Refineries With Money Saved From Subsidy Removal - Timipre Sylva by Daviddson(m): 12:12pm On Sep 11
More money to loot by the henchmen at NNPC.

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Re: We Will Fix Refineries With Money Saved From Subsidy Removal - Timipre Sylva by Abouwaza(m): 12:13pm On Sep 11
Another lamba

4 Likes 1 Share

Re: We Will Fix Refineries With Money Saved From Subsidy Removal - Timipre Sylva by Kvng6464: 1:08pm On Sep 11
Which kind country be this self.

3 Likes 2 Shares

Re: We Will Fix Refineries With Money Saved From Subsidy Removal - Timipre Sylva by pacino26(m): 1:33pm On Sep 11
I read somewhere this morning that FG wants to sell it's major shares in NNPC and the 4 refineries. So now they want to fix it before selling or they don't want again?

Can they stop for a moment and check if their brains are still in their skulls or na relaxer full am!

31 Likes 3 Shares

Re: We Will Fix Refineries With Money Saved From Subsidy Removal - Timipre Sylva by ForeThinker: 2:53pm On Sep 11
A purpose of human life, no matter who is controlling it, is to love whoever is around to be loved.
Re: We Will Fix Refineries With Money Saved From Subsidy Removal - Timipre Sylva by SmartPolician: 2:53pm On Sep 11
angry grin angry grin

Nigeria didn't deserve independence

8 Likes 1 Share

Re: We Will Fix Refineries With Money Saved From Subsidy Removal - Timipre Sylva by salbis(m): 2:53pm On Sep 11
Sai Baba, at least some brain don dey reset. grin grin grin

1 Like

Re: We Will Fix Refineries With Money Saved From Subsidy Removal - Timipre Sylva by RaptObserver: 2:53pm On Sep 11
Another lie

6 Likes 1 Share

Re: We Will Fix Refineries With Money Saved From Subsidy Removal - Timipre Sylva by bluefilm: 2:54pm On Sep 11
Story for the gods.

Shameless idiots.

Nonsense. angry

8 Likes 1 Share

Re: We Will Fix Refineries With Money Saved From Subsidy Removal - Timipre Sylva by Bixobo(m): 2:54pm On Sep 11
Another tori

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Re: We Will Fix Refineries With Money Saved From Subsidy Removal - Timipre Sylva by Prodigee: 2:54pm On Sep 11
Our leaders have never been sincere

1 Like

Re: We Will Fix Refineries With Money Saved From Subsidy Removal - Timipre Sylva by popweezy(m): 2:54pm On Sep 11
Ah ah lipsrsealed

1 Like

Re: We Will Fix Refineries With Money Saved From Subsidy Removal - Timipre Sylva by donprinyo: 2:55pm On Sep 11
still sharing the money. simply privatize de shitty refinery
Re: We Will Fix Refineries With Money Saved From Subsidy Removal - Timipre Sylva by jericco1(m): 2:55pm On Sep 11
Money that you guys have started looting already.. grin
I have heard this narrative a billion times
Give them six months and they won't be able to account for the money saved.

Miserable leaders angry

7 Likes 1 Share

Re: We Will Fix Refineries With Money Saved From Subsidy Removal - Timipre Sylva by Luckydubby7(m): 2:55pm On Sep 11
They have started again ooo

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