deavicky:
are you looking for help or where to borrow money? If it is borrow, and you are sure of paying in month time, there are lots of online money lenders. You try them.

For help if I can get

zikter:
The result of not having functional refineries. I do not know what to say again, this is more than a curse for us. How can we be producing crude oil for this long without functional refineries? The refineries are just there incurring billions in losses every year. The country is becoming hopeless for the common man daily

This simply summarize the fact that from the day oil was discovered.. All the past and present leaders and those in the position to speak NEVER meant well for this country..

They're only there to loot part of what's left.

Very shameful indeed!

yinkus6750:
Is it a crime to be A Nigerian?
Mineral wealth that ought to be a blessing is now suffering to the masses.
Government failed to make the refineries work, started taking crude out to refine.
People getting richer, and subsidy killing the economy.
O Lord, deliver us from this looming problem.

That is the handwork of Buhari. He has used our tax money to build railway to Niger Rep where he will be importing PMS from.
So a rise in PMS means rise in Niger Rep's income. He wants to enrich them with our labour. Na we get crude, na we dey buy PMS from other countries.
If James Ibori and Lucky Igbinedion, Dangote can single handedly build refineries, why can't Nigeria as a country build or fix her refineries?
Wahala be like Bone-Straight hair wey dey tangle like Yankees.

I don't even know where to start picking apart this unintelligent analysis,
Just be still

Vardanes2:


Because the petrol from the new refienry would be sold at N160 after being produced at N200 and above from the same refinery, and the refinery as a result won't make the profit it needs to keep running, and upgrade.

And the subsidy payment for the refienry won't cover the losses made adequately.

Within a few years, the refienry would either close down, or would export all its fuel abroad.

That's why all of NNPC's refienries are shuttered...because NNPC was selling subsidsised fuel, and running at a loss as a result. Any money NNPC makes now goes largely to paying subsidy costs, and also imprting fuel. NNPC cannot profitably refine fuel in Nigeria because Nigerians prefer to buy cheap fuel.

StaffofOrayan:
I don't even know where to start picking apart this unintelligent analysis,
Just be still

So we should be selling fuel at N162 when it is supposed to be N190?

So back in 2011, we should have kept on imprting fuel at N99 and sold at N65 per liter?

So we should have kept on wasting money on subsidy, and we should keep on wasting money on subsidy.

So we should have kept on selling subsidised fuel...eh? So that greedy people would have been taking our subsides to Niger. and other countries to sell and make a proft.

Okay, and I am supposed to be the unintelligent one.

Go and buy stuff at N1500 a piece, sell it at N750 , ask government to pay you N250 as subsidy and see if you make enough of a profit to stay in bsuiness.

Subsidsed fuel is why we are here. Let the marketers fix the price of fuel, so that we can have the cash to fix refineres, so that more investors can come in and build refineries, and so that government can save money, and reduce our debt , and so that at least , we get more jobs.

We are buying fuel from Niger because Niger does not subsidse their fuel, and as such have the cash to pay for repairts and upgrades to their only refinery.

Modified...

It seems you don't get what I am saying..so here is the modified version of what I mean

For several decades, Nigeria has been selling fuel at a controlled price. As a result, makrketers and the NNPC cannot make a profit sufficent enough to refine fuel profitably in Nigeria, hence the derangement of our refineries. At the end of the day, we became a mass importer of fuel as a result...and we still subsidse that fuel we import...ie force marketers to sell fuel at a low price, and then pay them cash...ie subsidy ...to cover their loss.

But because the cost and transport of fuel is going up, it has become difficult for marketers and NNPC to keep selling fuel at low prices, so, intially government made NNPC the sole importer of fuel, but NNPC now spends most of its money imptrting and subsidising fuel

RTemovign subsidy, while making fuel very expensive, would provide enough of a profit to fund refinery repairs, and to invest in new refienreis, and prevent people like Dangote from exporting fuel abroad

The reasons the refineries don't work is the reason there is no electricity, it's the same reason there are bad roads everywhere, it's the reason people are dying every day,

For some reason Nigeria is the only oil dependent nation in the world that does this craziness,

South Africa has 6 refineries, India has 18 and they are not oil dependent nations!

None of these Nigerian refineries have produced ANYTHING,

Stop this foolishness at once!

Vardanes2:


So we should be selling fuel at N162 when it is supposed to be N190?

So back in 2011, we should have kept on imprting fuel at N99 and sold at N65 per liter?

So we should have kept on wasting money on subsidy, and we should keep on wasting money on subsidy.

So we should have kept on selling subsidised fuel...eh? So that greedy people would have been taking our subsides to Niger. and other countries to sell and make a proft.

Okay, and I am supposed to be the unintelligent one.

Go and buy stuff at N1500 a piece, sell it at N750 , ask government to pay you N250 as subsidy and see if you make enough of a profit to stay in bsuiness.

Subsidsed fuel is why we are here. Let the marketers fix the price of fuel, so that we can have the cash to fix refineres, so that more investors can come in and build refineries, and so that government can save money, and reduce our debt , and so that at least , we get more jobs.

We are buying fuel from Niger because Niger does not subsidse their fuel, and as such have the cash to pay for repairts and upgrades to their only refinery.

StaffofOrayan:
The reasons the refineries don't work is the reason there is no electricity, it's the same reason there are bad roads everywhere, it's the reason people are dying every day,

We don't have electricity, because it costs N53 to prodice one kwh of power, and then it is sold at N30 per kwh until recently when prices were raised to N50 per kwh

So there isn't enough profit in the system to make things work. Part of the losses are covered up by, you guessed it, government and international loans.

No profits, no power. Price controls don't work in economics.

As for roads, we have a tax to gdp ratio of 5.8%. Toll gates were dismatled across the country. Works budget is scanty for a country of 200 million people, then there is looting, and bad railways.
Countries with good roads pay higher tax rates than Nigeria ever does.

For some reason Nigeria is the only oil dependent nation in the world that does this craziness,

And to earn enough from oil, we need it at $133 per barrel. Because there are 200 million of us, while prosperous oil produicers have less in populaiton

Far less.

Of all the prosperous oil priducers I know of, most of them produce 2-5 times oil than we do, and have populaitons about ten times less.

South Africa has 6 refineries, India has 18 and they are not oil dependent nations!

They also don't subsidse fuel;India seells fuel above 300 naira per liter. ( and the fuel costs in India vary from city to city, with some paying above N400 per liter) ;South Africa sells it at 400 per liter. They got the money to fix and upgrade their refienries., w..because the profit is sufficent to do so.

Right now, Nigeria is supposed to be sellign fuel at N180-200 PER Liter, but we sell below N165, with NNPC covering the losses with its money(before it was marketers wwhich is where the concept of subsidy scams, fuel crisis, ettc came from)...and at the end the resultt is still the same. Yes a profit, not enough tto pay for workiong refineries.

None of these Nigerian refineries have produced ANYTHING,

Yes, because they operate at a loss, because subsidy

Stop this foolishness at once!

In the words of Pontus Pilate...what I have written, I have written.It is my opinion, and I don't work for government nor do I support APC or PDP.

They don't operate at a loss!
They don't operate at all!
It's just a facility to make people get rich through 'maintenance'

Vardanes2:


We don't have electricity, because it costs N53 to prodice one kwh of power, and then it is sold at N30 per kwh until recently when prices were raised to N50 per kwh

So there isn't enough profit in the system to make things work. Part of the losses are covered up by, you guessed it, government and international loans.

No profits, no power. Price controls don't work in economics.

As for roads, we have a tax to gdp ratio of 5.8%. Toll gates were dismatled across the country. Works budget is scanty for a country of 200 million people, then there is looting, and bad railways.
Countries with good roads pay higher tax rates than Nigeria ever does.



And to earn enough from oil, we need it at $133 per barrel. Because there are 200 million of us, while prosperous oil produicers have less in populaiton

Far less.

Of all the prosperous oil priducers I know of, most of them produce 2-5 times oil than we do, and have populaitons about ten times less.



They also don't subsidse fuel;India seells fuel above 300 naira per liter. ( and the fuel costs in India vary from city to city, with some paying above N400 per liter) ;South Africa sells it at 400 per liter. They got the money to fix and upgrade their refienries., w..because the profit is sufficent to do so.

Right now, Nigeria is supposed to be sellign fuel at N180-200 PER Liter, but we sell below N165, with NNPC covering the losses with its money(before it was marketers wwhich is where the concept of subsidy scams, fuel crisis, ettc came from)...and at the end the resultt is still the same. Yes a profit, not enough tto pay for workiong refineries.



Yes, because they operate at a loss, because subsidy




In the words of Pontus Pilate...what I have written, I have written.It is my opinion, and I don't work for government nor do I support APC or PDP.

StaffofOrayan:
They don't operate at a loss!
They don't operate at all!
It's just a facility to make people get rich through 'maintenance'

On the other hand, if subsidies went, and makrketers were put in charge of setting the price of petrol, the refinereis would work since it would now be profitable to refine fuel in Nigeria.

Infact, those who you think are benefiting from the maintenance fees would infact earn higher profits under the arrangement, and the poor would benefit from more jobs.

Niger sells fuel at N377 per liter, and thus can refine fuel easily because they don't subsidse it,and thus have the profits to pay for refinining it at home, and they are 'poorer' than we are.

The India and South Africa can build refineries by the ton because they too sell fuel at very high prices. If they did not, they won't have the profit to build and repair and upgrade refinereis.

Here in Nigeria, we take cheap fuel as a national gift. It helps polticans get elected, but we end up spending a lot of money for keeping it cheap.And apart from Dangote, no private investor is willing to build a big refinery here. Also, most private refineries here are planning to refine things like Diesel...which isn't subsidsed.

jjxxx:


That is the handwork of Buhari. He has used our tax money to build railway to Niger Rep where he will be importing PMS from.
So a rise in PMS means rise in Niger Rep's income. He wants to enrich them with our labour. Na we get crude, na we dey buy PMS from other countries.
If James Ibori and Lucky Igbinedion, Dangote can single handedly build refineries, why can't Nigeria as a country build or fix her refineries?
Wahala be like Bone-Straight hair wey dey tangle like Yankees.

1.Dangote built his refinery with the help of loans

2.Any private refinery in Nigeria won't last if prices are subsidised. If you want Dangtre refinery to work, you have to let Dangote set the price of the fuel refined in his refinery so that he can earn enough profit to keep his refinery working well.

3.Niger is a fuel exporter because they sell fuel at N372 naira, thus having the profits needed to keep their single refinery working.

Have you ever considered how much it costs to move the crude to port, ship it out for weeks, offload it, process it, hire a new vessel to bring it here, offload and distribute it,

Now distributors are supposed to buy fuel from the refineries and that should be the end of it, but in Nigeria they buy the fuel and then get paid again by the govt for buying the fuel, that is the whole definition of subsidy, It's just a big and powerful cabal of oil companies and their distributors, and their favorite weapon is scarcity,

How long are you going to keep playing this age old game that would destroy you?

www.premiumtimesng.com
EXCLUSIVE: Nigeria's biggest oil fraudsters; the worst subsidy scam ever
16 Aug 2012 — To benefit from the 2011 fuel subsidy largesse, the oil companies “ manufactured” fictional oil ships (vessels) they claimed

Vardanes2:


On the other hand, if subsidies went, and makrketers were put in charge of setting the price of petrol, the refinereis would work since it would now be profitable to refine fuel in Nigeria.

Infact, those who you think are benefiting from the maintenance fees would infact earn higher profits under the arrangement, and the poor would benefit from more jobs.

Niger sells fuel at N377 per liter, and thus can refine fuel easily because they don't subsidse it,and thus have the profits to pay for refinining it at home, and they are 'poorer' than we are.

The India and South Africa can build refineries by the ton because they too sell fuel at very high prices. If they did not, they won't have the profit to build and repair and upgrade refinereis.

Here in Nigeria, we take cheap fuel as a national gift. It helps polticans get elected, but we end up spending a lot of money for keeping it cheap.And apart from Dangote, no private investor is willing to build a big refinery here. Also, most private refineries here are planning to refine things like Diesel...which isn't subsidsed.

StaffofOrayan:
Have you ever considered how much it costs to move the crude to port, ship it out for weeks, offload it, process it, hire a new vessel to bring it here, offload and distribute it,

Now distributors are supposed to buy fuel from the refineries and that should be the end of it, but in Nigeria they buy the fuel and then get paid again by the govt for buying the fuel, that is the whole definition of subsidy, It's just a big and powerful cabal of oil companies and their distributors, and their favorite weapon is scarcity,

How long are you going to keep playing this age old game that would destroy you?


EXCLUSIVE: Nigeria's biggest oil fraudsters; the worst subsidy scam ever
16 Aug 2012 — To benefit from the 2011 fuel subsidy largesse, the oil companies “ manufactured” fictional oil ships (vessels) they claimed

Which is why I have said, repeatedly on this thread, why subsidy has to go.

We ended up in the suiutuation which you have pointed out because for years, we subsidsed fuel, and thus made it difficult to sell fuel at a profit that would have been enough for NNPC to refine it at home. So, we went from being an producer to being an importer.

Instead we sell something that costs over N200 to refine here at N165 or less.


We have been doing this since the 1980's...and that's why our refineries don't work...because NNPC stopped selling fuel at a sufficent profit...which would have enabled them to pay for repairs, to pay for new refienreis, to pay for maintenance, and so on and so forth.

Dangote will soon come on stream. Maybe prices will fall, but if we don't let him sell at the price he wants to sell, and not only Dangote, but the other guys who are building private refinereis, they won't earn enough profit to keep their refineries competitive, and at the end of the day, we would be back to square one.

You are not paying attention,
You are just parroting this subsidy thing,

www.bloomberg.com › articles
Nigeria's Big Oil-Refining Revamp Gets Off to a Slow Start - Bloomberg
15 Jan 2021 — A year after shutting down all of its dilapidated refineries to figure out how to fix them, Nigeria still can't say how

The story is that they don't know how to fix the refineries, stop making up these fairy tales, our refineries are a reflection of everything else in Nigeria,

These same idiotss ensure they bring in the worst possible fuel into the country to maximize the scam

www.theguardian.com
Petrol sold to Nigeria from Europe 'dirtier' than black market 'bush' fuel
01 Jul 2020 — But very little of this oil is refined in the country because its four state-owned refineries are dysfunctional or ...

We are only patronizing our old colonial masters under the guise of a subsidy that doesn't exist

Vardanes2:


Which is why I have said, repeatedly on this thread, why subsidy has to go.

We ended up in the suiutuation which you have pointed out because for years, we subsidsed fuel, and thus made it difficult to sell fuel at a profit that would have been enough for NNPC to refine it at home. So, we went from being an producer to being an importer.

Instead we sell something that costs over N200 to refine here at N165 or less.


We have been doing this since the 1980's...and that's why our refineries don't work...because NNPC stopped selling fuel at a sufficent profit...which would have enabled them to pay for repairs, to pay for new refienreis, to pay for maintenance, and so on and so forth.

Dangote will soon come on stream. Maybe prices will fall, but if we don't let him sell at the price he wants to sell, and not only Dangote, but the other guys who are building private refinereis, they won't earn enough profit to keep their refineries competitive, and at the end of the day, we would be back to square one.

StaffofOrayan:
You are not paying attention,
You are just parroting this subsidy thing,

www.bloomberg.com › articles
Nigeria's Big Oil-Refining Revamp Gets Off to a Slow Start - Bloomberg
15 Jan 2021 — A year after shutting down all of its dilapidated refineries to figure out how to fix them, Nigeria still can't say how

The story is that they don't know how to fix the refineries, stop making up these fairy tales, our refineries are a reflection of everything else in Nigeria,

These same idiotss ensure they bring in the worst possible fuel into the country to maximize the scam

www.theguardian.com
Petrol sold to Nigeria from Europe 'dirtier' than black market 'bush' fuel
01 Jul 2020 — But very little of this oil is refined in the country because its four state-owned refineries are dysfunctional or ...

We are only patronizing our old colonial masters under the guise of a subsidy that doesn't exist

Yes, Nigeria does not know how to fix the refineries because fixing them also means selling fuel from them at a profit, which also means much higher prices, which also means APC gets voted out come 2023.

The government would rather continue a scam subsidy rather than fix the refinereis, and by extension accept that fuel has to be sold at a profit so that funds to keep those same refinereis running well, and funds to build new refineries would be available.

Subsidy removal means higher , much higher prices than the N190 government is proposing...

But long term good for our economy

N.B That image you used in your post is hardly tasteful and reflects badly on you

Sir, pay attention!
It's a scam!
They have a good thing going with European powers, I can bet you Europe keeps the best of the crude oil and sends rubbish, highly combustible fuel to Nigeria,

www.dw.com
Five reasons why Nigeria ended fuel subsidies | DW | 13.05.2016
13 May 2016 — ... University about what could have inspired Buhari's government to remove the contraversial fuel subsidy

www.spglobal.com › latest-news › oil
Nigeria's President confirms removal of gasoline subsidies | S&P ...
05 Jun 2020 — The government said late June 4 that President Muhammadu Buhari had granted approval to the Petroleum Products

mg.co.za › article › 2010-09-03...
'Refine or import' fuels debate - The Mail & Guardian
03 Sep 2010 — A BP spokesperson says importing finished fuel products would not be a ... said it would be a lot cheaper to import crude oil and refine it in South Africa

Now we have crude oil and no refinery!

Vardanes2:


Yes, Nigeria does not know how to fix the refineries because fixing them also means selling fuel from them at a profit, which also means much higher prices, which also means APC gets voted out come 2023.

The government would rather continue a scam subsidy rather than fix the refinereis, and by extension accept that fuel has to be sold at a profit so that funds to keep those same refinereis running well, and funds to build new refineries would be available.

Subsidy removal means higher , much higher prices than the N190 government is proposing...

But long term good for our economy

N.B That image you used in your post is hardly tasteful.

StaffofOrayan:
Sir, pay attention!
It's a scam!
They have a good thing going with European powers, I can bet you Europe keeps the best of the crude oil and sends rubbish, highly combustible fuel to Nigeria,

www.dw.com
Five reasons why Nigeria ended fuel subsidies | DW | 13.05.2016
13 May 2016 — ... University about what could have inspired Buhari's government to remove the contraversial fuel subsidy

www.spglobal.com › latest-news › oil
Nigeria's President confirms removal of gasoline subsidies | S&P ...
05 Jun 2020 — The government said late June 4 that President Muhammadu Buhari had granted approval to the Petroleum Products

mg.co.za › article › 2010-09-03...
'Refine or import' fuels debate - The Mail & Guardian
03 Sep 2010 — A BP spokesperson says importing finished fuel products would not be a ... said it would be a lot cheaper to import crude oil and refine it in South Africa

Now we have crude oil and no refinery!

So, my solution is, refine the fuel at home, pay the people refining the fuel at home the price they demand to be paid in so that they can keep the refinery wroking, and then

Or why do we have Danogte refinery, the one in Edo state, and the other one in Imo state...plus we have at least 60 licences issued for refining fuel...why haven't the European power s stopped them from setting up refienries in Nigeria?

Well, I've said it. You are engaging in all this conspiracy talk because like most Nigerians, you want to pay N40 for fuel..hence you voted for APC.

You don't want to accept the reality, that we have to pay the people who want to refine fue here in Nigeria , the price they want us to pay for their services. You want them to operate at a loss, and run their refineries down, the same way we ran NNPC refiners down, because we kept on selling fuel at a price lower than it cost NNPC to refine it for decades.

It's you who does not want to accept the truth. Like your goverment, like the oppoisiton

Well, good evening. I have tried.

By the way,if we removed subsidies, it will lead long term to Nigerian having 10 refienreis, or more, and lower prices. Comeptiton.

Lol
The govt has 4 refineries,
The refineries are supposed to take our crude, refine it and sell it to the distributors,
Ordinarily, there should be a pipeline that goes from the depot to the refineries, but that would kill the distribution cabal,
So instead NNPC buys the crude oil, hires their cronies, move the oil Abroad, buy it back and sell it to the distributor,
NNPC is one of the most corrupt entity on the planet,


www.dw.com
Five reasons why Nigeria ended fuel subsidies | DW | 13.05.2016
DW: Why did the government of Nigeria decide to remove the subsidies now?

"Muntaqa : We were taken aback by the government's decision to remove the subsidy which we believe did not exist in the first place. Surcharge is what exists not subsidy. There is too much corruption in the Nigerian oil industry.... ."

NNPC has enough money to convince you to believe their madness is the way to go

Every scam has an expiration date, and the subsidy scam has run its course

Vardanes2:


So, my solution is, refine the fuel at home, pay the people refining the fuel at home the price they demand to be paid in so that they can keep the refinery wroking, and then

Or why do we have Danogte refinery, the one in Edo state, and the other one in Imo state...plus we have at least 60 licences issued for refining fuel...why haven't the European power s stopped them from setting up refienries in Nigeria?

Well, I've said it. You are engaging in all this conspiracy talk because like most Nigerians, you want to pay N40 for fuel..hence you voted for APC.

You don't want to accept the reality, that we have to pay the people who want to refine fue here in Nigeria , the price they want us to pay for their services. You want them to operate at a loss, and run their refineries down, the same way we ran NNPC refiners down, because we kept on selling fuel at a price lower than it cost NNPC to refine it for decades.

It's you who does not want to accept the truth. Like your goverment, like the oppoisiton

Well, good evening. I have tried.

By the way,if we removed subsidies, it will lead long term to Nigerian having 10 refienreis, or more, and lower prices. Comeptiton.

Again your solution to electricity is paying more money!
There is just something wrong with you,
If you like pay N1,000,000 there only so much 4000 megawatts of electricity can provide,

That is supposed to be obvious

Vardanes2:


So, my solution is, refine the fuel at home, pay the people refining the fuel at home the price they demand to be paid in so that they can keep the refinery wroking, and then

Or why do we have Danogte refinery, the one in Edo state, and the other one in Imo state...plus we have at least 60 licences issued for refining fuel...why haven't the European power s stopped them from setting up refienries in Nigeria?

Well, I've said it. You are engaging in all this conspiracy talk because like most Nigerians, you want to pay N40 for fuel..hence you voted for APC.

You don't want to accept the reality, that we have to pay the people who want to refine fue here in Nigeria , the price they want us to pay for their services. You want them to operate at a loss, and run their refineries down, the same way we ran NNPC refiners down, because we kept on selling fuel at a price lower than it cost NNPC to refine it for decades.

It's you who does not want to accept the truth. Like your goverment, like the oppoisiton

Well, good evening. I have tried.

By the way,if we removed subsidies, it will lead long term to Nigerian having 10 refienreis, or more, and lower prices. Comeptiton.

StaffofOrayan:

There is just something wrong with you,

Do have a good day, sir.

Esseite:
Only God knows what GEJ sacrificed for Nigerians to be able to by fuel at N85 despite crude averaging over $100 while the exchange rate was just N120 - N1, despite that, still increased minimum wage by over 100% (7,500 - 18,000) while retaining us on single digit inflation.

Just small $60/barrel and APC is already telling Nigerians prepare for pains and suffering, anguish and strife, poverty and hunger despite a pandemic, despite a reccession, despite the rate of unemployment, despite double digit inflation.

You truly dont know what you have until you lose it... today i remember GEJ and smile asking, how did they make us get it wrong twice..

this is where Nigerians are fools and will remain fools, what do u mean by what GEJ sacrifices? Like seriously? How much was petroleum price under Obasanjo compared to GEJ? Is it that we are all blind to see that successive governments are worse than the previous? Or are we so blinded by tribal and party sentiment?

What GEJ sacrifices SMH, as any one is government sacrifices for the masses. We no just get sense for this country. U come here and wanna start acting like any government is Saint rubbish

@Vardanes2
The political capital is a lot more weighty than you give it credit for. Not as much as your antagonist says, maybe, but huge. The PIB should have provided structure, ended flaring and a whole lot of other things. The concern now is the fact that it has been split into sections (like train coaches) without a timeline, but erecting the "governance" and overseeing section higher than the rest...i.e. what agency should be created/ restructured to regulate what.
So PIB-G or PIGB (Governance Bill) is actually in force.
The issues the corporate PIB is to answer to are growing. It has to be rolled-out in a complete document for best- class investment. Is six of eight years in this administration "preparing" the groundwork for another administration?
We cannot get the pricing right until every aspect of the chain is reviewed. N300 a litre will then force a salary review upon Revenue & Fiscal and upset a rather delicate balance.
I think it has to go that way, though.