Tell each dept in the Refinery to repair their own before you pay their salary

FalseProphet1:
When Peter Obi said subsidy is an organized crime they came for his head. Now explain why a country would waste over 54b on refineries that aren't functional. We need Peter Obi to clean the rot in that sector.

This I have seen.

I hope he's able to fight the cabal when he gets there. Buhari said same thing..

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Skankamola:

Dangote is obviously a big part of the cabal that wont let the refineries work for personal gains.

Dangote is not part of the cabal at all.

The reason why our refineries don't work is because of the thing called subsidy.

Subsidy means that for nearly 40-50 years since it came, fuel has been sold at a cheap price, and something called the subsidy has been paid to offsett the resulting loss.

That means two things...free government money, and the refineries run at a loss.

At the end of the day, the refineries broke down, because no matter how little or how much work is done there....the money will come. Plus lack of profit means lack of money to do things like upgrades...because refineries need to be upgraded from time to time...and this goes way beyond the TAM that a lot of Nigerians are fixated on.

Governments since 1988 have been telling us that subsidy has to go...and even candidates like Peter Obi have been saying it more recently. But most Nigerians want subsidy to stay because it means cheap fuel.

Which brings us to Dangote. If subsidy is there when Dangote starts his refinery...it will run at a loss. And at the end, Dangote refinery would be like our own broken down refineries in five years...because whatever government gives him will not be enough to keep his refinery running...and the plan is for the refinery to produce dobule of what it will prodiuce on inception in ten years from then.

Nigeria's refineries do not work because you guys want to buy sonething that should cost N350 and above at N180 and less.

Venezuela tried that thing...and in twenty years went from a refinery that was refining 900000bpd to 100000bpd....because they sold fuel there at less than N40.

Iran has managed to keep its refineries running, with subsidy...and its debt is far higher than our own debt.

So either Nigeria gets realistic, or the refineries will never work...and that includes Dangote. You cannot go into business as a charity.

FalseProphet1:
When Peter Obi said subsidy is an organized crime they came for his head. Now explain why a country would waste over 54b on refineries that aren't functional. We need Peter Obi to clean the rot in that sector.

This I have seen.

DaveJacuzie:

I hope he's able to fight the cabal when he gets there. Buhari said same thing..

The reason why subsidy is still there is because most Nigerians...will riot and cause crisis if it is removed completely. That is why all that Buhari has done since he took over is partial removal. Despite calling subsidy a scam.

The thing is, we can't keep throwing money away at subsidy forever. Or importing fuel. But no one is going to refine fuel in this country and sell it at a fraction of the cost it was used to refine it...and then get paid a subsidy that does not cover the rising cost...especially when crude oil prices rise. And if you tell the crude oil drillers to drill for crude at a fraction of the cost, their workers, and the communites that rely on them will protest.

We refined fuel from our NNPC refineris and sold it at a fraction of the cost for years...till we ran out of money to keep them working. That is when they broke down, and became niduses of corruption and stealing.

But because we all want fuel at cheap price, that is why this burden called subsidy continues.

Ask why Buhari has not removed subsidy...by posting a thread calling for subsidy removal here. You will be cursed and abused and insulted. Then you will get why.

RepoMan007:
What has been the advantage of Buhari in this whole petroleum sector handling. No working refinery. Subsidy going away due to mismanagement. Dangote building one at same time to show us it is possible. Gas prices up.

The man only supervised allocation of oil well to a secret group.

Dangote used LOANS to fund his refinery. Most of the money came from LOANS from local and international banks, and from the CBN...who classed it as a LOAN,not as a grant, or a dash.LOAN..

If Government did the same thing, yes, they will build a refinery, but to EARN ENOUGH OF A PROFIT TO keep it running, and pay back the loan, they would have to sell fuel at prices higher than 200 naira ....fuel produced from that refinery.

That is why subsidy is planned to vanish when the dangote and the 5-6 other private refineries come on stream. It is because if it does not go, Dangote won't earn enough of a profit to pay back the loans.

Àwon wèrè

Jàgùdà páálí

Kasssandra:


Dangote is not part of the cabal at all.

The reason why our refineries don't work is because of the thing called subsidy.

Subsidy means that for nearly 40-50 years since it came, fuel has been sold at a cheap price, and something called the subsidy has been paid to offsett the resulting loss.

That means two things...free government money, and the refineries run at a loss.

At the end of the day, the refineries broke down, because no matter how little or how much work is done there....the money will come. Plus lack of profit means lack of money to do things like upgrades...because refineries need to be upgraded from time to time...and this goes way beyond the TAM that a lot of Nigerians are fixated on.

Governments since 1988 have been telling us that subsidy has to go...and even candidates like Peter Obi have been saying it more recently. But most Nigerians want subsidy to stay because it means cheap fuel.

Which brings us to Dangote. If subsidy is there when Dangote starts his refinery...it will run at a loss. And at the end, Dangote refinery would be like our own broken down refineries in five years...because whatever government gives him will not be enough to keep his refinery running...and the plan is for the refinery to produce dobule of what it will prodiuce on inception in ten years from then.

Nigeria's refineries do not work because you guys want to buy sonething that should cost N350 and above at N180 and less.

Venezuela tried that thing...and in twenty years went from a refinery that was refining 900000bpd to 100000bpd....because they sold fuel there at less than N40.

Iran has managed to keep its refineries running, with subsidy...and its debt is far higher than our own debt.

So either Nigeria gets realistic, or the refineries will never work...and that includes Dangote. You cannot go into business as a charity.

Dangote is not part you just know how? The subsidy sham is a big business, imagine the refineries were working, you have any idea how much importers would lose daily in subsidy cut? The latest figures put subsidy for last month at over #500billion naira. They wont let the refineries work but would let dangote build his refinery and you think he doesnt have a hand in it right?

Kasssandra:


Dangote used LOANS to fund his refinery. Most of the money came from LOANS from local and international banks, and from the CBN...who classed it as a LOAN,not as a grant, or a dash.LOAN..

If Government did the same thing, yes, they will build a refinery, but to EARN ENOUGH OF A PROFIT TO keep it running, and pay back the loan, they would have to sell fuel at prices higher than 200 naira ....fuel produced from that refinery.

That is why subsidy is planned to vanish when the dangote and the 5-6 other private refineries come on stream. It is because if it does not go, Dangote won't earn enough of a profit to pay back the loans.

stop demonic lies.

Yes Dangote took loans but govt can still subsidize after Dangote n co make their own profits. The govt buys at open market rate from Intl refiners who make profit currently, it is just a matter of buying from Dangote and co and doing what they have been doing..
Nobody is forcing Dangote to stop sell at a loss but at a profit to the FG who then do the usual subsidy thing and sell at a loss to Nigerians.

Skankamola:

Dangote is not part you just know how? The subsidy sham is a big business, imagine the refineries were working, you have any idea how much importers would lose daily in subsidy cut? The latest figures put subsidy for last month at over #500billion naira. They wont let the refineries work but would let dangote build his refinery and you think he doesnt have a hand in it right?

If Dangote opens his refinery with subsidy in place, it will collapse in a few years because subsidy means he cannot operate it at a profit.

It is like you don't understand subsidy. We sell petrol at a price lower than what it costs to make or refine it from crude oil. Government pays a difference called subsidy. Subsidy costs rose due to rising oil prices, rising transport costs and rising costs of refineries. We cut the money we spent on refineries over the years so that we could reduce our subsidy costs , which is why we have bad refineries.

See why subsidy has to go? Dangote took loans to build that refinery of his. Nnpc meanwhile is spending money to get two refineries ready for next year's planned removal of subsidy.

Subsidy has to go. Or refineries will run at a loss and importers will benefit.

Kasssandra:



The reason why subsidy is still there is because most Nigerians...will riot and cause crisis if it is removed completely. That is why all that Buhari has done since he took over is partial removal. Despite calling subsidy a scam.

The thing is, we can't keep throwing money away at subsidy forever. Or importing fuel. But no one is going to refine fuel in this country and sell it at a fraction of the cost it was used to refine it...and then get paid a subsidy that does not cover the rising cost...especially when crude oil prices rise. And if you tell the crude oil drillers to drill for crude at a fraction of the cost, their workers, and the communites that rely on them will protest.

We refined fuel from our NNPC refineris and sold it at a fraction of the cost for years...till we ran out of money to keep them working. That is when they broke down, and became niduses of corruption and stealing.

But because we all want fuel at cheap price, that is why this burden called subsidy continues.

Ask why Buhari has not removed subsidy...by posting a thread calling for subsidy removal here. You will be cursed and abused and insulted. Then you will get why.

keep shut pathetic liar.
Subsidy and profitability of refineries are two parallel line - they can never cross path.
The only thing about to change is whoever the FG decides to buy from before subsidizing for Nigerians. The money is not the president's, the minister's, or GMD of NNPC personal money and so can always be spent on Nigerians to make life better.

RepoMan007:
stop demonic lies.

Yes Dangote took loans but govt can still subsidize after Dangote n co make their own profits. The govt buys at open market rate from Intl refiners who make profit currently, it is just a matter of buying from Dangote and co and doing what they have been doing..
Nobody is forcing Dangote to stop sell at a loss but at a profit to the FG who then do the usual subsidy thing and sell at a loss to Nigerians.

And where do you think that government will get the money? From the budget

And when the cost of subsiding fuel goes up, it will eat and eat Into the budget, and cause a rising deficit

Guess how we would cover the deficit? More loans.

Remove subsidy. Let Dangote make a profit. Let us used the money saved to pay for salary rises , and rake in more from taxes on Dangote refiney and increased investment.

Peter Obi said it. Subsidy must go.

And if you call me a demonic liar again, I will report you to the mods. I don't recall insulting you.

RepoMan007:
keep shut pathetic liar.
Subsidy and profitability of refineries are two parallel line - they can never cross path.
The only thing about to change is whoever the FG decides to buy from before subsidizing for Nigerians. The money is not the president's, the minister's, or GMD of NNPC personal money and so can always be spent on Nigerians to make life better.

Thanks and regards.

I can't discuss with immature people like you.

Two times you have called me a liar.

You grow up.

Kasssandra:


And where do you think that government will get the money? From the budget

And when the cost of subsiding fuel goes up, it will eat and eat Into the budget, and cause a rising deficit

Guess how we would cover the deficit? More loans.

Remove subsidy. Let Dangote make a profit. Let us used the money saved to pay for salary rises , and rake in more from taxes on Dangote refiney and increased investment.

Peter Obi said it. Subsidy must go.

And if you call me a demonic liar again, I will report you to the mods. I don't recall insulting you.

They will get it from where people loot billions from.
All the loans the useless govt took to build thing are hard to repay because they built unsustainable projects in their villages.

RepoMan007:
They will get it from where people loot billions from.
All the loans the useless govt took to build thing are hard to repay because they built unsustainable projects in their villages.

And when the lootruns out?

Good evening. Like I said, I don't discuss with people who are abusive to me. If I was abusive to you you won't like it.

Modified

Geez, Nigerians can't have a civilized discussion, they must abuse abuse, abuse. Well ..

Una just dey waste money for nothing in this kwantry.......54. something billion down the drain..... even all the borrowing with no immediate plans for repayment no dey touch una for body, the money una for use start new refinery.......

OK continues

nothing compared with the #1.1tn demanded by ASUU!

DataphyteSEO:
by Olanrewaju Oyedeji


https://www.dataphyte.com/latest-reports/finance/nnpcl-has-spent-n54-billion-on-its-ever-ailing-refineries-in-seven-months/

Buhari and his government is over corrupt.

Kasssandra:



The reason why subsidy is still there is because most Nigerians...will riot and cause crisis if it is removed completely. That is why all that Buhari has done since he took over is partial removal. Despite calling subsidy a scam.

The thing is, we can't keep throwing money away at subsidy forever. Or importing fuel. But no one is going to refine fuel in this country and sell it at a fraction of the cost it was used to refine it...and then get paid a subsidy that does not cover the rising cost...especially when crude oil prices rise. And if you tell the crude oil drillers to drill for crude at a fraction of the cost, their workers, and the communites that rely on them will protest.

We refined fuel from our NNPC refineris and sold it at a fraction of the cost for years...till we ran out of money to keep them working. That is when they broke down, and became niduses of corruption and stealing.

But because we all want fuel at cheap price, that is why this burden called subsidy continues.

Ask why Buhari has not removed subsidy...by posting a thread calling for subsidy removal here. You will be cursed and abused and insulted. Then you will get why.

Exactly!! It's a deep mess we are!.

These guys need to be rounded up and shot.

[quote author=AloneTK post=117083645][/quote]

Reason why some give up on life and commit suicide.