wifeesnatcher:
shameless country, ordinarily if all this money you're borrowing was used to build at least four Refineries in Nigeria, the issue of adulterated and subsidy won't be coming up



foolish Government (FG)

Exactly!

Evolutionlove:


Philippine Is poor okay, But A thousand times better than shiiiithole and you useless zombies with no headway In life. Awon eleribu dede, Imagine saying Philippine Is poor. A nation that have first class TIES with China and Co and benefit from them. Recently I discovered shiiiithole zombies have started Importing "PHILIPINES USED ITEMS" Just Imagine, and someone opened his stinky mouth that they are poor....

Dunno why lowlives are quick to attack and market their ignorance in public. the fact that Nigeria isn't blessed with good leaders yet doesn't mean the nation is a dreg. Don't think because the phillipines are white skinned make them richer. Use your internet wisely, compare GDP and ranking of the two countries in the world economy. Watch documentary and learn. mofo

Shame unto the our senseless and useless Federal Government! How can we be importing fuel from abroad when our own refineries here can be revived and fractional distillation be done here? They deliberately never wanted these refineries to work cos of corruption. Posterity will never forgive all our bad, corrupt leaders/politicians.

baralatie:

What is the cost of a litre of refined petrol if you are going to produce it locally!
Let us start from there!
Before you start mis yanning

See your life, so what you imply is that we cannot produce it locally?
Have we not done that before? A country that imports every thing cannot develop.
May be we shud import bottled water too because its too expensive to produce locally.

openmine:

Exactly!

And some idiots on this forum said we cannot refine fuel locally so we shud continue to import it.

backbencher:


It is happening for the same reason GEJ promised 3 refineries in 2010, and by 2015, not one was built.

Subsidy.

Subsidy means that any refinery built would run at a loss.

If GEJ or Buhari actually built refineries, Nigerians would insist that fuel be sold from those refineries at a low price. The refinereis then won't make enough of a profit, meaning that government has to keep on pumping money into them to prop them up...money that could have been used for education, health, etc....

At the end, they also become monuments, because government money pumped in cannot keep up with their losses.

A refinery has to make a profit so that it can run well. But Nigerians want cheap fuel, and as a result, investors and even government run away from refinereis. At the end, it would just eat money and produce less.

Dangote is building his refinery with lots of loans, which he got because the banks know that if his refinery becomes loss making, they can just simply take over his other lucrative assets and pay themselves back.

And what is your point with all these your inconsistent epistles?.......

Naijanascam:





And what is your point with all these your inconsistent epistles?.......

For a refinery to work it has to make a profit

And for it to make a profit, subsidy has to go.

And no, i am not here to praise or attack PDP or apc, buhari or GEJ. Just preaching against subsides

Good morning

backbencher:


For a refinery to work it has to make a profit

And for it to make a profit, subsidy has to go.

And no, i am not here to praise or attack PDP or apc, buhari or GEJ. Just preaching against subsides

Good morning

And having a modern and working refinery is a rocket science in Nijeeria. .... and they resort to importing every nonsense because of selfishness .......

Naijanascam:






And having a modern and working refinery is a rocket science in Nijeeria. .... and they resort to importing every nonsense because of selfishness .......

We can have a modern working refinery in nigeria once we remove the barrier to profits being made by the refinery

I think we agree apc and Bubu have failed in building refineries. Where we disagree is why.

Assuming buhari builds a refinery, which would take some time,unlesa there was no subsidy it would just lose money and end up like the 4 bad ones.

Remember, we lost the first 4 refineries because the then government forced them to operate at a loss to.sell cheap fuel and the compensation paid for the loss ie the subsidy was not enough

If you want a working refinery, it has to make profit.

Yes buhari was wrong not to have built refineries, but he was also wrong not to have removed subsides which is a big part of the reason why we dont have refineries and why our 4 refineries are moribund.

backbencher:


We can have a modern working refinery in nigeria once we remove the barrier to profits being made by the refinery

I think we agree apc and Bubu have failed in building refineries. Where we disagree is why.

Assuming buhari builds a refinery, which would take some time,unlesa there was no subsidy it would just lose money and end up like the 4 bad ones.

Remember, we lost the first 4 refineries because the then government forced them to operate at a loss to.sell cheap fuel and the compensation paid for the loss ie the subsidy was not enough

If you want a working refinery, it has to make profit.

Yes buhari was wrong not to have built refineries, but he was also wrong not to have removed subsides which is a big part of the reason why we dont have refineries and why our 4 refineries are moribund.

NNPC is a cash cow of government and politicians......... which is never done in a sane society and country where the citizens welfare are part of the establishment........ Nijeeria loose nothing with genuine subsidy with our refineries working at it's peak.......

Naijanascam:






NNPC is a cash cow of government and politicians......... which is never done in a sane society and country where the citizens welfare are part of the establishment........ Nijeeria loose nothing with genuine subsidy with our refineries working at it's peak.......

Problem with subsidy

1. The cost always rises because the difference between the cost of production and the goverment set price at the pump is rising.

2. Invariably, refineries cannot make a profit. Assuming it costs say 250 naira to refine one liter of fuel and goverment insists on selling it at 100 naira and pays a subsidy of 150 naira, profit made is essentially zero. And when the cost of production increases to 300 naira due to say rising cost of eg crude oil, the losses grow.

3. Subsidy money is paid from crude oil revenue. Crude oil prices are never where we want them. Most of the time they are below where we need them to be. That affects revenue and money available for subsidies. In some cases risies in subsidy costs means we spend money needed for other things on subsidising fuel

quentin06:


See your life, so what you imply is that we cannot produce it locally?
Have we not done that before? A country that imports every thing cannot develop.
May be we shud import bottled water too because its too expensive to produce locally.

So inorder to cover the fact that you do not know "shingbain" on the cost of producing a litre of petrol locally is what you are rambling up and about.

baralatie:

So inorder to cover the fact that you do not know "shingbain" on the cost of producing a litre of petrol locally is what you are rambling up and about.

What dyu know? You just copy and paste thrash from a fools blog, where is your data on the cost of producing fuel? Sit on your couch and keep your fat nose in your noodles.

backbencher:


Problem with subsidy

1. The cost always rises because the difference between the cost of production and the goverment set price at the pump is rising.

2. Invariably, refineries cannot make a profit. Assuming it costs say 250 naira to refine one liter of fuel and goverment insists on selling it at 100 naira and pays a subsidy of 150 naira, profit made is essentially zero. And when the cost of production increases to 300 naira due to say rising cost of eg crude oil, the losses grow.

3. Subsidy money is paid from crude oil revenue. Crude oil prices are never where we want them. Most of the time they are below where we need them to be. That affects revenue and money available for subsidies. In some cases risies in subsidy costs means we spend money needed for other things on subsidising fuel

Lies, we re paying more because some crooks in govt benefit more, if our refineries were to work, they d lose, stop trying to justify a crooked scheme with your baseless logic.

quentin06:


What dyu know? You just copy and paste thrash from a fools blog, where is your data on the cost of producing fuel? Sit on your couch and keep your fat nose in your noodles.

All hail the prof!!

quentin06:


Lies, we re paying more because some crooks in govt benefit more, if our refineries were to work, they d lose, stop trying to justify a crooked scheme with your baseless logic.

Good afternoon