₦airaland Forum

300k barrels sold way below market value will be sold to these refiners at the same price

which leads me to my last question which is will the bigshots who have profited the most from petrolem and generator imports fold their hands and allow it to happen? 

Let leave generator importers out of this because we cant blame private security outfits for security problems in Nigeria or folks who make "pure"  water for  inadequate supply of "safe" drinking water.

_{rofl. Wellll . . . . . . . I must confess, I did enjoy watching mummy spend her money. Oh yess. . .}
It depends on your responsibility. If your people hold pepper, there is nothing that will make them depend on you simply because u come home for Xmas. But if you are the alpha and omega for your family, N200K will not be enough, but its doable.  some girls for Naija have smaller responsibility than guys.

_{Go and check President Yaradua's record from day one and you will discover that even being sick for many years, the man has accomplished more than most Nigerian politicians do in their entire careers, and more than most of you people will ever see in your life time}

Provide us with the record abeg. Another attention seeker

nex.
Your observation is right, but NITEL was still required to obtain GSM license from NCC and abide by NCC set rules, but NNPC is jack of all even selling petroleum products, thereby competing with small  filling station owners.  So whenever a govt official says deregulation " it simply means they want Nigerians to pay more"

^{Seasonal greetings 2 al ma follow G-MEN. Bros, u wan face 2 face 4 AUSTRALIA, AUSTRIA, ARGENTINA, CANADA, BELGIUM,  NEW ZEALAND, NEW YORK, MEXICO,  INDIA, TURKEY, UKRAINE N RUSSIA or 2 give loan to your maga or any other contact 4 USA/LONDON wire me email now or add me [gntlmature@yahoo.com], mak we share doo. 1mind n 1Luv!}

So u could not  read between politics and classified? Moderator please block this SOB

_{First of all they should remove the subsidy and allow market forces to determine the prices of PMS, diesel and aviation fuel.}
How can u subsidize what belongs to Nigeria? The point is that NNPC  gets daily allocation of 300K at below market prices. Petroleum in Naija is not  like  GSM cos MTN , GLO , ECONET had to build their gateways and only NCC could grant license and NCC as statued is not a competitor and umpire, but NNPC is an umpire and a competitor. Deregulation should start with dissolution of NNPC. I bet you that politrickians will not allow their cash cow (NNPC) to be swept away by real competition.

http://234next.com/csp/cms/sites/Next/Money/Business/5485512-146/story.csp

which companies are doing business there? Most have left and are no longer investing - Venezuela's production is dropping
due to their appropriation of foreign assets. The royalties in Nigeria are already high, so what is the issue here? Even if
your crude is the 'best in the world', lots of crude is emerging from Angola and other countries - we are no longer as
unique as we were

Its called the cost doing business , which is factored in any major business decision when engaging in a business venture. The point here is that these companies have had long established business relationship with Nigeria, so asking them to build a refinery is not asking them  to donate a refinery,cos they will build, own, distribute and make profit. 
Venezuela nationalized oilfields and some of the companies left or threatened to leave, but increasing loyalties did not make them leave.

Shell refinery in Saudi Arabia is a 50-50 joint venture with Saudi Aramco and is a strictly EXPORT refinery. Have we even
met local supply before we start looking at what others are doing?  Please note that Shell's refinery was built in 1985

This should be another reason why  oil companies should jump at it because its going to be 100% owned and operated by these oil companies. More so, it should be the reason why they should be rewarded with a 20yr lease in order to recoup their investments and lock prices.

r]
Nigeria is unstable, insecure and has no infrastructure - Saudi has all these and therefore is attracting investment. Till we sort out the basic issues out, we are wasting our time

Thomas Friedman of Foreign policy  writes in petropolitics that oil business isn't necessarily in bed with good government and stability. These companies are doing business in Nigeria, if they had an option of choosing between Abacha and a transparent govt, they would choose Abacha 100%. I had talked  to an oil man who told me how easy it was during Abacha's tenure to do oil deals in Nigeria. He would always come to  the negotiation table with Rolex wrist  watches and padded shoe socks with American 100 dollar bills. oil business is murky anywhere, that's why oil companies are rushing to get oil deals in Iraq despite  its political instability. Nigeria is still a factor in oil business, Angola is not an alternative-maybe in the foreseeable future. Any time there is an attack on Nigerian oil systems it reverberates globally on commodity markets.
Like I said  earlier, allocation of about 300K bpd will make it profitable for any company that ventures into this initiative.

Actually what happened was that the President was supposed to leave earlier in the day but because of the holidays in Saudi Arabia they couldn’t procure his visa in time.”
Interesting. Didnt know that presidents wait in line for visas

I had the umbrella idea way before Rihanna!!
Time to visit copyright office or intellectual property lawyers on how to protect new ideas cos  I see some money to be made  in the future. protect your idea no matter how little cos Rasheed  Wallace was sued for copyright infrigement over a tatoo he got while in Oregon.

I dont know where we get the impression that these companies will dust their rigs and bags and leave. No way. Naija with the best crude in the world and these companies have massive investments in Nigeria. Venuzuela increased oil loyalties from 1% to 16.6% and these companies are still doing business over there
The trade-off would be to commit to build a refinery and u sign a 10/20 year lease in order to recoup your investment. Then on the other hand, if u opt out, you go yearly on your lease, but Naija has to peg yearly renewals to cost of inflation. Also why is it that Shell and Exxon have refineries in Saudi Arabia with  Saudi Aramco where petroleum products are cheaper? Finally , we have not taken into account that  about 300K barrels  are allocated to NNPC daily  for local consumption? Maybe new refineries coming on stream should get a chunk of that allocation in relation to their installed capacity.

busy-body attention seeker

I'm presently in Kampala, Uganda. To my surprise, since i got here on the 2nd of this month - November from Nigeria, i've been wondering if they ever take their light.

Why is it that I dont usually see those utra nationalist NLers who would e-punch or e-kill you for saying that Nigeria is a  failed country whenever an issue like this comes up?

<sup>Some people need to die for Nigeria to work!

No.1: The Crude importer/exporter cabal needs to be esterminated
No.2. The generator importer cabal needs to die.

There may be other cabals, but first these two must go before anything works in that country. They are all there in the govt, they are the one ruling us. A few number of people toiling with the destiny of many! We have watched too long enough. And God will not come down to do this for us, he has done enough by giving us the resources.</sup>

How is it generator importers' fault? It's like blaming folks who have taken advantage of govt failure to provide power. Do u blame private security outfits for insecurity in the country? Dont come  here to spew ignorance.

^{anyway cha
i say bravo to them, at least they say they were able to get 3500mw. no roblem let us see what they can even do with 3500 before even thinking about 6000 or 10000. this is because if they can not utilize 3500 then how will they utilize 6000. in fact we should not be surprise that they are not buying this mw because of Nigerians rather it is for them to resell. in my own opinion let us pray that God will grant them a sincere mind to utilize the 3500mw for the main purpose. Nigeria is our home lets pray for her}

Must you contribute to any post even when you dont have an idea of how things work?

I thought Soludo said something like this and they called for his head. Now its coming from one of their own.

Where are defenders of Nigeria at all cost on this forum? A nation that has not even aspired to be great

^{Why are people shouting abouting withdrawing 40,000 pounds in cash? The rules that apply to mere mortals like us do not apply to celebs. Besides they are private bank clients. They dont do your usual branch runs. In my bank we employees cant even pull up their accounts to view their balances. (trust me i've tried to find Donald Trump's account!) . Their banks are just glad to have them as clients and cater to their every whims. They make a lot of dough and when they want to spend it, you cannot stop them}.

I dont know about different laws for celebrities. Even Barry Bonds -US ex  baseball player  who is way too much richer than Martins could only deposit $9,999 to avoid  being questioned by govt officials. Anything above $10k is likely going to trigger an investigation. someone is going to ask u some questions while taking 40K out of your account and someone is going to ask u questions whenever u deposit it. This goes on and on. Since his money is legit, he could worry less of govt officials and I think their incomes are pre-taxed

they are going to steal the vote and make soludo their puppet. "God Fatherism 2" coming to political theater in Anambra.Soludo should have been coached better by Chris Ngige or Chris Uba

not only that, dr Alban performed  at world music award  in Monaco. i think Michael Jackson was honoured in this event as the musician of the century. This is another Idris fighting almight 50Cent. Nigerians and their king mentality

this woman sounds like Egoo and Carol in Living in Bondage. She is loud and mouthy

i was reading a psychology book 2day and it says that men value looks more than women while women value deep pockets more than men. Yobo with deep pockets and Adaeze with good looks.

Kunle

Well it is not a good comparison to use federal budget to compare remittances from abroad if you really want to know how much diaspora are contributing to the national economy. The ideal thing to use is a GDP comparison which i sated earlier. Our official GDP currently stands at $180 billion. [GDP is total value of economic activity in the formal/legitimate ecomony] The truth is that our real GDP is at least double that cause a lot of economic activity in this country goes unrecorded. Our informal / illegitimate economy might actually be bigger than what formal / legitimate. in other wards our real GDP when our activities are factored in could be as much as $360 billion and that would make the $10 billion Diaspora are sending home to be a paltry 2.7% of out total economy. That to me is not capable of shaking the national economy

This is a skewed reasoning. Why not compare what govt  spends annually with what diasporans send home annually? You are still not accepting the fact that folks in diaspora contribute immensely to  theNigerian economy. Going by your $180b analysis, $10 billion represents 5.5% of the GDP. So you projection of $360 billion as real GPD without taking into account what folks in diaspora send to Naija via unofficial means like carrying raw cash, sending of goods like cars, trucks, wears, computers etc which could could easily be up to $50 billion. So this is still a substantial gain for Naija economy. compare what naija spends in a year with  what folks in diaspora send to Naija in a year. This is no rocket science

_{Well considering the fact that Nigeria's GDP is in excess of $180 billion [and that is taking into account only the legitimate and formal aspect of the economy which actually accounts for less than 50% of the National economy] one would realize that the so called $10 billion being sent home is peanuts. I would like a comparrison with how much is being siphoned out yearly, stashed away abroad by our politicians and sent to support our struggling brothers over there. I am sure this would be well in excess of the $10 billion our diaspora folks are getting excited about.}

This retard does not know that if $10 billion is pumped into Nigeria's GDP of $180 billion, it will translate to 5.5% growth in GDP. So if there is not significant economic growth next year and Nigerians abroad send another $10 Billion it will positively impact Nigerian economy and the govt will calculate that as an economic growth

^{Is it bacause I mentioned the issue of housework like cleaning the baby's poo, you guys don't want to do the 50-50 thing again?   Just joking . You would be surprised how many of the new generation guys still have this belief, that kitchen chores is beneath them. I agree though it's the way their mothers trained them.}

just remember that before housework, a house rent must be paid for by the guy if its his 100% reponsibility to  pay for evrything.shelter comes b4 house chores. I believe that if some women agree to contribute as it's required then the man should have no obligation to say that its  not a man's job to cook.

How are u in a better position when yar'dua was flown abroad for simple exhaustion? So the most powerful person in the country is equal to folks in diaspora?

Are we reading responses from most women? This is their thinking. This is marriage 101 in Naija. Ever tried asking a girl to contribute to her wedding?

what year is this CAT? Is this 3306 or 3406?

Someone from Ghana is even stealing from Nigeria

How much Asphalt was used for road surfacing? This is coming after his followers have exerted enough stress on existing road

u are concerned that she is getting a free ride to work, why dont you put a GPS device inside her body to track her movement? What if she is really not going to work as she claims in the morning? U have a lot catch up to do if you really want to keep a close tab on your wife. Get it over your head, U CANNOT RUN HER LIFE.

where are the folks who shouted down on some of us said that Nigeria did not need to host this event?