FUEL SUBSIDY REMOVAL, The Whole Truth.

Lets face it ''What is the cost of drilling one litre of crude?'', ''What is the cost of refining a litre of fuel?'', ''How much does it take to build a working refinery of about 100,000 barrel output per hour?'', ''How much is fuel sold per liter in other oil producing countries?''.

When the hon. Minister of subsidy removal ngozi okonjo iwela as i call her disclosed the details of how crude is exported, refined and imported back, she presented to us Nigerian the cost of export and import but she intentionally omitted the cost of refining this crude. When the question was put to her ''wat is the cost of refining crude oil per barrel?'' she never answered that question.

I was in Warri Delta State in March 2011, the local boys has local refinaries located in every part of the town and they refine crude locally but illegally as our senseless government wil say. I spend close to two weeks in there different camps studying how local refining of crude works. I was very well marvelled at ther simple locally made oven technology used to cook this crude, and brother u need to see the better quality of fuel, kerosene and diesel this young boys including women in some camp produce, the 1st question i asked myself was ''if this can be done locally with very little capital like this, then why is our government deceiving us?'' because the way government talks about building a refinery i was thinking it takes like 1000 heads of virgins and 500 eggs of a goat to build one. The only thing government and they accomplist knows how to do best is to use ship to move these crude every morning to the high sea then transload it to a bigger and zoom off to overseas, every morning there call it BADGE, the ship moves in badges escorted by angry looking security personnel to the high sea and gets it offloaded to the bigger ship, off to an unknow refinery outside Nigeria which if u check well it is owned by a Nigerian.

This local boys buys crude oil at the rate of 3,500naira for a drum of 220liters. After refining ther sale at 10,500 per drum. If u divide 10,500 by 220 liters u wil get 47naira per litre. Ther sale fuel for 6,300 per drum which gives u 28naira per litre. In a scale production it is so cheap, if it it produced in a large scale we all knw it wil be cheaper so who is deceiving who?.

Then coming to why our three refineries is not working i ve said the fed. Govt. read by Badluck sorry Goodluck lack the liver and are not sincere with us. In 2008, fed. Govt. awarded a contract of 1.1billion u.s dollars for a TAM(turn around maintenace) of the three refineries, today the refineries are not still working and no body was asked wher is the money given to u to make this refineries work, probably the boyz are bigger than all of us put together. Now the Fed. Govt. Under GEJ jst proposed aother TAM of 2billion u.s dollars when Niger Republic built a refinery with 200million u.s dollars, who is deceiving who?. My dear is fed. Govt. Cant build a refinery then let then allow this boyz run ther local refineries, after its an example of a smale scale industry. it wil creat more jobs and the products wil be in adeguate supply and cheaper.

Lets look at cost of fuel in other OPEC country members per liter, Saudi Arabia $0.12(18naira). Kuwait $0.79(32naira), United Arab Emirate $0.37(57naira), Venezuala $0.5(7naira), Quatar $0.22(34naira), Iran $0.42(17naira), Algeria $0.20(31naira). Then why is ours different.

Another food for thought is this, since the Govt. Claims ther borrow money to do subsidy that is to say, all the project ther claim ther wil execute when the subsidy is removed, the money wil also be borrowed. All na the same borrowing.

Book Of Omega