allcomage:
Why not repair the 4 refineries, take crude oil refine and sell to Nigerians at N100 per litre because crude is cheap now.

adonainana:

This is the easiest of the solution to the bigger picture problem now

So trust Nigerian doesn’t have the type of IQ sufficient leaders to implement such

A country has the raw materials to make petrol because it doesn’t have the factory to process the crude to petrol

It therefore exports the crude materials to other countries that can process the crude for it, it now imports it back twice the price it exports it out

So as not to make it expensive to the final consumers ( it pays the companies that imports the final material back into Nigeria a commission ) it’s calls is fuel subsidy

Now it wants to remove the fuel subsidy as it’s too costly

But what about the main problem in the first pragraph, you still don’t have functioning refineries to process the petrol you are removing the subsidy for

If the refineries are too expensive to fix

Why don’t you go to Russia or North Korea or even the UK and invite the government of these countries to take over the refineries and run it like it’s there’s

No need being scared about anything

In life if you neee help you ask for it

I trust a country like China they will run those refineries within 5 days and Nigeria will never suffer or lack from refining crude oil into petrol again

BeeBeeOoh:


https://www.thecable.ng/we-cant-continue-zainab-ahmed-says-nigeria-losing-n250bn-monthly-on-fuel-subsidy/amp

adonainana:

This is the easiest of the solution to the bigger picture problem now

So trust Nigerian doesn’t have the type of IQ sufficient leaders to implement such

A country has the raw materials to make petrol because it doesn’t have the factory to process the crude to petrol

It therefore exports the crude materials to other countries that can process the crude for it, it now imports it back twice the price it exports it out

So as not to make it expensive to the final consumers ( it pays the companies that imports the final material back into Nigeria a commission ) it’s calls is fuel subsidy

Now it wants to remove the fuel subsidy as it’s too costly

But what about the main problem in the first pragraph, you still don’t have functioning refineries to process the petrol you are removing the subsidy for

If the refineries are too expensive to fix

Why don’t you go to Russia or North Korea or even the UK and invite the government of these countries to take over the refineries and run it like it’s there’s

No need being scared about anything

In life if you neee help you ask for it

I trust a country like China they will run those refineries within 5 days and Nigeria will never suffer or lack from refining crude oil into petrol again

FarahAideed:
And your want to spend 200 billion to pay transport allowance ? Are you okay so? Instead of you to find out how daily fuel consumption jumped from 23 million litres a day to 90 million litres in just 4 years

hustla:



I wonder how a country as large as nigeria cant fix its refineries

I think the FG is betting on Dangote's refineries for next year

BeeBeeOoh:


https://www.thecable.ng/we-cant-continue-zainab-ahmed-says-nigeria-losing-n250bn-monthly-on-fuel-subsidy/amp

adonainana:

This is the easiest of the solution to the bigger picture problem now

So trust Nigerian doesn’t have the type of IQ sufficient leaders to implement such

A country has the raw materials to make petrol because it doesn’t have the factory to process the crude to petrol

It therefore exports the crude materials to other countries that can process the crude for it, it now imports it back twice the price it exports it out

So as not to make it expensive to the final consumers ( it pays the companies that imports the final material back into Nigeria a commission ) it’s calls is fuel subsidy

Now it wants to remove the fuel subsidy as it’s too costly

But what about the main problem in the first pragraph, you still don’t have functioning refineries to process the petrol you are removing the subsidy for

If the refineries are too expensive to fix

Why don’t you go to Russia or North Korea or even the UK and invite the government of these countries to take over the refineries and run it like it’s there’s

No need being scared about anything

In life if you neee help you ask for it

I trust a country like China they will run those refineries within 5 days and Nigeria will never suffer or lack from refining crude oil into petrol again

backbencher:


1. You would not run to North Korea to run your refineries. North Korea has no refineries and relies on China for petrol ( and that country is a mess as well)

1) you will run to anywhere you can get help, help means financial support in like for any benefit in return, even if for Hong kin un to think he has a friend that loves him, he will feed his followers how good he is. You simply get help wherever you can. Also pls clarify which country is a mess China or North Korea, and pls if they are a mess , what is Nigeria ?

2..Rule number one of allowing a foreign entity run anything is that you have to let them make a profit doing so.

China basically runs Niger Republic only refinery , meanwhile petrol sells for N370 per liter there. And Niger is poorer than we are.

Yes the foreign states or companies come in and run it and make a profit from running. It doesn’t matter all that matters is for the problem to be solved

Niger doesn’t have 0.001 of the crude oil reserves Nigeria has, if the refineries for processing the Crude into whatever you wish to make it to works well, just like how the free market works it won’t cost 370 a liter . Therr is too much of the crude to even start with and so much of the refineries if all is made to work

3.The reason why we have bad refineries is that government forced then to run at a loss to guarantee cheap fuel. Thus they had no money for routine maintenance and upgrading. Meaning they all collapsed. And have become money sinks.

Yes reason why you let it be someone else responsibility but this time around foreign experitise and nation states

4. If we had removed subsidies in 1993 , when it was first suggested to us, by now we would have had well functioning refineries for decades simply because they were allowed to run at a profit an thus make back the money they spend in refining one liter of fuel.

( A subsidy is what the goverment pays to cover the difference between the cost price of petrol and the goverment price which is lower..It is usually insufficient because the actual cost price always rises and because it is funded by volatile oil revenues.

Goverment removes subsidies from time to time by reducing the amount spent on subsides which manifests as a rise in prices)

adonainana:
..

FarahAideed:
And your want to spend 200 billion to pay transport allowance ? Are you okay so? Instead of you to find out how daily fuel consumption jumped from 23 million litres a day to 90 million litres in just 4 years

backbencher:


1. You would not run to North Korea to run your refineries. North Korea has no refineries and relies on China for petrol ( and that North
Korea country is a mess as well. It is poor , broke and it's annual budget is one quarter of what South Korea spends on defence!)

2..Rule number one of allowing a foreign entity run anything is that you have to let them make a profit doing so

China basically runs Niger Republic only refinery , meanwhile petrol sells for N370 per liter there. And Niger is poorer than we are.

3.The reason why we have bad refineries is that government forced then to run at a loss to guarantee cheap fuel. Thus they had no money for routine maintenance and upgrading. Meaning they all collapsed. And have become money sinks.

4. If we had removed subsidies in 1993 , when it was first suggested to us, by now we would have had well functioning refineries for decades simply because they were allowed to run at a profit an thus make back the money they spend in refining one liter of fuel.

( A subsidy is what the goverment pays to cover the difference between the cost price of petrol and the goverment price which is lower..It is usually insufficient because the actual cost price always rises and because it is funded by volatile oil revenues.

Goverment removes subsidies from time to time by reducing the amount spent on subsides which manifests as a rise in prices)

5. We have a functioning GSM network because goverment allows them to run at a profit. We don't have functioning refineries because goverment forced them to sell fuel at a loss for decades and paid them an insufficient amount of money called subsidy to cover the losses .

backbencher:


1. North Korea is a mess. It is an absolute monarchy run by fear and oppression . And it is the fault of its leaders

2.If you want foreigners to run your refineries then you have to let them recoup their investment and that means higher prices by default. They have to recoup the money spent in repairing and upgrading the refineries plus they have to sell the petrol above its cost of production otherwise they won't make enough profit to pay everyone from their suppliers to their employees and transporters.

It is the way of business. Nothing goes for free.

We ran down our refineries because we sold fuel at cheap prices meaning no profit to fix them or upgrade them or build new refineries.

That is why subsidy has to go. So that there would be profit enough to fix new refineries, repair existing ones , build new ones and attract more and more investment and financing and ultimately more jobs

And you cannot do that by selling one liter of fuel at N165 after refining it at a cost of 250 naira and above, and paying a subsidy that barely covers the difference

BeeBeeOoh:


https://www.thecable.ng/we-cant-continue-zainab-ahmed-says-nigeria-losing-n250bn-monthly-on-fuel-subsidy/amp

lexy2014:


1. his reference to north korea is that as bad as north korea is, they can still do better in running our refineries than we are doing presently.

2. u are talking about foreign entity. isnt it d same foreign entity buhari has been borrowing loans from and allowing to build railway?

3. simply put, the government destroyed the refineries itself and doesnt intend fixing them

4. since 1993 and even before then, subsidies have always been removed and used as justification for petrol price increase. so which subsidy removal are u still refering to? and how is subsidy removal responsible for lack of refineries which you have acknowledged that government deliberately ran aground

Tannhauser:


The joy of being proved right by this government has been overtaken by the depression caused by thoughts of the consequences on the people

adonainana:


1) North Korea is a mess run by fear and oppression Nigeria nko, barely can anyone go and exercise thier right to peaceful protest without being shot mercilessly and being gaslighted about no one dying after being shot


This is not entirely how capitalism and the free market works

If you want to buy rice in the market today therr is local rice and there is foreign rice and like with any commodity it’s proce is determined by the market forces amongst all other parameters

Anyone can run a factory or a refinery and you choose to take your profit anywhere else

Even some Nigerian business men born and bred in Nigeria they take thier profits over seas more less foreigners

So the point about foreigners running and taking their profit away with is inconsequential

It’s free market economics in play many players now buying Crude oil raw materials and refining it through the refineries locally and selling it . The price would never get to 350 per liter

The supply of the raw material crude is endless infact fuel might still be ended up being smuggled to neigbouring countries which is a lesser of the evil for the FG because it’s totally not involved as a game player anymore

The 4-5 refineries all working at once will produce almost times 3 of the local consumption rate in petrol ago and kerosene terms the nation consumes .