BluntTheApostle:


At least, Buhari is investing in local refineries.

Something successive governments refused to do.

If we had functional refineries, this would have certainly been a gain.

Which yeye local refinery is he investing in? Tell me what I dont know.

Its unfortunate that some people have refused to cure themselves of zombiezim.

blackpanda:


Including u. U are a hypocrite too

Am not, i stand by my word and don't criticise unjustly like some fools here.

I can't speak against subsidy with one mouth and come in and pay subsidy.

I cant protest against subsidy removal and not protest against it when ur messiah is the one planning it.

I supported subsidy removal back then, the only thing i didnt support was sharing the saved funds amongst governors.

U didn't support it back then, but u support it because buhari said so.

U r hypocrite just like ur messiah.

poiZon:

Do u know the meaning of enabling environment, or u just saw it on NTA24?
If u knew, u wouldn't be mentioning it alongside buhari.

OK, there was an enabling environment under GEJ which was why zero modular refineries were constructed. Yet, the Otuoke fisherman had the audacity to remove subsidies.

Please, Buhari is the best president we have had since 1999.

He had to contend with some bad lucks, but he has shown to be a more considerate leader.

If the likes of Obasanjo and GEJ had done their jobs, we wouldn't be in the mess we are in today.

An oil-rich country that imports petroleum products.

Shame!!!

Macphenson:


Which yeye local refinery is he investing in? Tell me what I dont know.

Its unfortunate that some people have refused to cure themselves of zombiezim.

Mention one functional refinery before Buhari came to power in 2015?

BluntTheApostle:


OK, there was an enabling environment under GEJ which was why zero modular refineries were constructed. Yet, the Otuoke fisherman had the audacity to remove subsidies.

Please, Buhari is the best president we have had since 1999.

He had to contend with some bad lucks, but he has shown to be a more considerate leader.

If the likes of Obasanjo and GEJ had done their jobs, we wouldn't be in the mess we are in today.

An oil-rich country that imports petroleum products.

Shame!!!

The likes of gej and obasanjo did their jobs at their time, atleast the 4 refineries were producing something.

They did something by giving out more than 80 licences to modular refineries operators.

If u don't understand how govt operates, ask someone who is intelligent in ur community so u won't come and embarrass ur family on social media.

BluntTheApostle:


Mention one functional refinery before Buhari came to power in 2015?

I think the right question you should ask yourself is,mention one functional refinery now you claimed Buhari invested in local refineries. Am waiting please.

gbagyiza:


Read the news with keen interest you will understand according to the write up that the higher the crude oil price, it means higher payment of subsidy because we depend on importation of the refine products. This is the result of being stupid to the extend of destroying our own refineries, and now import the refine products after exporting the crude oil. This country don finish Kpatakpata.

Now read again, when crude was $100/bl... The previous admin paid subsidy, keep pms price low and still didn't borrow as much as the current admin did. Yet we had money in ECA and SWF. But the opposition then accused them of not doing enough with the high crude prices.
When this regime took over, the accused the pdp of everything imaginable and blame their inability to deliver due to low crude prices. Now crude prices are now at par with what previous regime sold, yet we pay more than double the subsidy even after increases in PMS price. So what excuse do they have to give now?

Macphenson:


I think the right question you should ask yourself is,mention one functional refinery now you claimed Buhari invested in local refineries. Am waiting please.

I have already mentioned one.

You can check my earliest posts on this thread.

I wrote something about this here yesterday in response to a guy who prayed that the war should linger so that Nigeria can earn more from increasing crude price. I will see if I can copy and repost here.

MODIFIED

It seems you are new to the Nigerian economy. Let me explain to you why Nigeria will remain stagnant whether the price of oil rises or falls.


Let's just say that the international crude price increases by 30x to $2100 per barrel, it would seem so easy to assume that Nigeria will earn so much money from oil and would automatically turn to Dubai overnight...


Unfortunately, Nigeria is so bleeped that we export crude oil and then import its by-products. The not so secret reality is that the country will become very rich from selling crude while its citizens become extremely poor from buying petrol at an exorbitant price and it crippling effect on the economy. The government will then have to cushion the effect by subsidising fuel and the effect is that the country would remain poor.

To break down what will happen - NNPC would import petrol at the same international price say #4,890 (#163 x 30) while petrol marketers would buy it from NNPC and sell to the consumers at #5000 per litre. This is a very sad reality... Inflation.


A trip of #200 will then jump to #4,000 - #6,000, a plastic of garri that cost #1,000 will become #24,000. - #30,000. And you and I know that our useless people in government will only double minimum wage by increasing it to #60,000 (Sorry! The stupid government is still debating on how to pay #30,000).

On the other hand, a falling price of petrol would translate to reduce revenue accruing to the government. A crude price of say $10 per barrel would mean that the nigerian government's earning from crude oil will reduce drastically and the country will be too poor to run itself but the citizens are expected to get petrol at a cheap price and this should normally translate to cheaper cost of things in the market as marketers will be able to buy and sell petrol very cheap. In Nigeria, whether they will sell it cheap is another thing to ponder on as this hasn't been the case during previous crude price fall.

The nigerian government that we have come to know will prefer to generate more money by refusing to reduce the price of petrol and also cover up the deficit by taxing the people.

Whichever way it goes. The living standard of average nigerians will not improve.

Oil Prices go down, Nigerian govt complains, it goes up. Same thing..what a cursed country.

GloriousGbola:
Buhari will still find a way to fucck this up, Mark my words.

i have marked your words sir

MARKone:


I guess you didn't read the article to fully grasp the pathetic state of the country, all OPEC countries refine their own crude, except Nigeria who import refined petroleum products, because the politicians choose to keep the 4 refineries dead. The higher the crude oil price, the more subsidy this hopeless government and previous ones pays, so in essence, there might be little or no profit that will filter (sic) down to Nigerians.

The reason I wrote the answer is so that Nigerians will makes sure that everything that needs to be done in Nigeria including building new refineries, Roads, Bridges ,Railways Sea ports, Hospitals, Schools the lot is done thoroughly so that our Great Grand Child will be able enjoy Nigeria to bless God for it


Sit on your Governors neck if you have to and make sure he develops your State when the Funds start rolling him

poiZon:

The likes of gej and obasanjo did their jobs at their time, atleast the 4 refineries were producing something.

They did something by giving out more than 80 licences to modular refineries operators.

If u don't understand how govt operates, ask someone who is intelligent in ur community so u won't come and embarrass ur family on social media.

Argue with this article:

The Major General Muhammadu Buhari (retd.)regime has kept its word by ensuring that modular refineries were not only given licences but also encouraged to begin production. The Federal Government has put in place an enabling environment for investors to open modular refineries in the country. Thirty five modular licences were issued in the past but nothing was done about it
https://www.google.com/amp/s/punchng.com/buhari-and-modular-refineries/%3famp

I am not going to be drawn into any aimless arguments this hot Sunday afternoon.

Rather unfortunate, because we did not do what we should have done long ago and even recently (having
functional refineries) . Else the present situation of things would have benefitted us immensely economically.

Big lie.

Christistruth00:
80% of the Oil Prce increases Profits will filter through to Nigerians because even unrefined Crude, Oil has escalated in price so that Nigeria finally has the money to build new refineries without making many excuses


Natural gas price has escalated too

ebufa:




The natural gas price increment is a miss for Nigeria cos NLNG gas sales are based on long-term contracts ( price is locked) but any surplus may be sold on the 'spot market' sha!

Is Russia still delivering its long term Contracts now ?

Traders are going to hedge

When oil prices were high we complain, it went low we cried, now it is high again, same complain.

Oh what a country of clueless buffoons as leaders

Wrong heading...

Winters23:
To the Arabs oil is a blessing,

Here in Africa it’s a curse.

My happiness is that the consequences of voting in another idi0t will be immediate and quick.

So keep going from sai buhari to tinubu we know


Everybody must collect

Produce a candidate we should all vote for.

I no understand this language ooo

Macphenson:
ok

, Oil price is now above $100.
Tell Buhari to perform wonders now.

That guy is a zombie. He won't say something now.

BluntTheApostle:



Argue with this article:

The Major General Muhammadu Buhari (retd.)regime has kept its word by ensuring that modular refineries were not only given licences but also encouraged to begin production. The Federal Government has put in place an enabling environment for investors to open modular refineries in the country. Thirty five modular licences were issued in the past but nothing was done about it
https://www.google.com/amp/s/punchng.com/buhari-and-modular-refineries/%3famp

I am not going to be drawn into any aimless arguments this hot Sunday afternoon.

Enabling environment means security, finance and licence.

Apart from licences, how much did buhari give them?
Was it loan or grant?

Atleast we know security is ZERO at the moment..

[img]https://c./5PLYBdsoBzkAAAAC/laurel-and-hardy-stan-laurel.gif[/img]

What a shame that APC couldn't put just one of refinery into place for 7 years. We really need honest and good leaders that have the interest of masses at heart. Any person who is ready to kill just to enter into power should never allow to rule this country. We really need God intervention in this country and our youths needs to make a sacrifice by rejecting this evil leaders cus of 5k. Oil now is above $100 still we have nothing to show for it.

The government should explain exactly how high oil prices mean higher subsidy? What excatly makes the subsidy shoot up when oil price increases? Is it that the cost of drilling the crude oil rises? or the cost of refining the oil rises? or even the cost of transporting the crude oil rises? We demand an explanation!

BeeBeeOoh:


https://dailytrust.com/nigeria-loses-as-russia-ukraine-war-escalates-global-oil-prices

Nigeria's ruling class deliberately crippled local refining capacity to be able to steal from the national treasury, via catastrophically fraudulent import regime. Of course they come out, thump their heartless chests and cry that subsidy is for all kinds of things but we all know they are congental liars

TheOgaBoss:
Was this not always the excuse of buhari apologists that things were better because crude prices was higher under goodluck, now they have suddenly turned the narrative around.

The type of looting going on in this government is one that has never been witnessed in the history of this nation.

BluntTheApostle:


The Waltersmith refinery located in Imo State is one.

Stop giving fake information here. The walter smith refinery is not functionjng yet. I am from Imo state. Stop peddling lies. No single refinery both government and privately owned in Nigeria is functionL as at today.

Nigeria should learn to save for the raining days

It still baffles me the way Politicians are destroying this nation with levity.

STOP WRITING LIES.OPEC MEMBERS LIKE NIGERIA ARE ENJOYING OIL PRICE APPRRCIATION now.BUHARI AND MINISTERS MUST ACCOUNT FOR THIS BOOM TIME revenue WITHOUT DECEIVING NIGERIANS. SUBSIDY MY FOOT ,WE GO SCHOOL NA;YOU PPL CANT HIDE THIS WINDFALLTO YASEF ALONE.

Macphenson:


Stop giving fake information here. The walter smith refinery is not functionjng yet. I am from Imo state. Stop peddling lies. No single refinery both government and privately owned in Nigeria is functionL as at today.

Which fake information?

The modular refinery is functioning.

Check their website, and confirm.

Why would they lie?