₦airaland Forum

atlwireles:
We actually had this price discussion yesterday. As the price of crude keeps falling, we trying to review our options. The following is our breakdown.

Nigeria $20-40
Sauidi $10
United states $70
Canadian sand $75

Just like you, I have my little knowledge. You don't need to shake a stick at me.

Bros, If it cost $70 per barrel to produce crude from the Shale in US, no single oil company will touch it talk less of the $75 in Canada.

I will repeat, you are mixing cost of production per barrel with Final upstream cost. The highest per barrel cost in Naija as of 2014 is $12.

atlwireles:
Your chewing gum argument, will get you far with me.. Like I said, you people should lead a demonstration and demand for crude pricing at cost. Happy driving on cheap oil.

I like the way you avoided answering. It shows you do not know.

To help you, what you were probably referring to will be the Final Upstream cost of a barrel of crude in Nigeria (which entails the total production cost + Other costs of doing the business in Nigeria)

For local refining, what we need to use in the production cost/barrel and that is still max $12 as of 2014. (And my guy, I KNOW.)

atlwireles:
The price NNPC pays, is based on the 30 days NYSE average. NNPC is not buying crude at cost, they pay the same price as shell, chevron and Exxon. Back in 2012 when price was set at N97, a barrel was almost $120. Today price is down to $81, we are actually paying more for petrol in Nigeria today, than someone in west Texas, today. This was the same thing that happened with Yaradua, when he reduced price to N65, only to regret it 6 weeks later. Because crude jumped by almost 40%.

There are people that want to sell oil at cost. I am not only of them. Oil is a commodity, like cocoa, rice, palm oil etc. Let try it that way. That's all Nigeria is trying to do.

At the Bold part in your above comment, are you by any chance implying that NNPC buys Crude Oil in the spot market? Or are you trying to imply that NNPC buys crude oil for refining at International Price?

Please clarify!

atlwireles:
Anybody calling Nigerian Oil subsidies a scam, is not worth much weighted up or down. You called yourself an industry insider, so you know the cost of production for Nigerian crude is about $20-40 per barrel.

Please lead another demonstration, so government can sell you petrol at cost price. You wonder why you people are dying of poverty, because some of you are constantly trying to reinvent the wheel. Goodluck with your free/cheap oil.

Bros, first the cost of Production per barrel in Nigeria is maximum $12.
Secondly, a barrel of crude and a litre of PMS are 2 different things. So if our government sells PMS at cost price, then we should be paying far less than N97.

atlwireles:
I love this, Nigerians always living in a different universe. People like you should push for production cost, pricing, which stands at about $30 a barrel for Nigerian crude. Then you might have a N40 per liter price. Please enjoy your driving.

Even in 2014, some are still living in delusion.

Bros, you need some education/enlightenment big time.

The highest Production cost per barrel in Nigeria is $12, at a time it went as low as $8 until the Niger Delta militancy. So please read more!

bushdoc9919:
Before you send me to the stake consider this

1.Our refineries are not operating at full capacity

Yet, this same government increased Crude Allocation for local consumption from 250,000 bbls/d to 450,000bbls/d. So what has been happening to the crude oil not being refined because the local refineries are not operating at full capacity?

bushdoc9919:
2.Even if they were operating at full capacity...we still have to import to make up the projected shortfall in domestic production (and recall that oil prices are very high....and are set to rise up).

The combined capacity of our refineries should meet minimum 70% of local demand (by NOI's submission in 2012) and thus only 30% should be required, and this shortfall can surely be met by the amount generated from selling the unused allocation for local refining. Note that our total local consumption id 250,000bbls/d at FULL CAPACITY, so from the alloted 450K, we have 200,000 bbls/d to finance the remaining 30%.

bushdoc9919:
3,And we are paying subsidy money, on top of the billions spent on importation(and some oil subsidies are being paid to importers)

This is Voodoo economics, subsidy is only paid on what is imported and sold cheaper. It is teh difference between the cost of procurement and sales cost.

bushdoc9919:
4.And we are not producing enough fuel....we produce far less than the UAE and even Saudi.

And yet UAE and Saudi have MORE functioning refineries than us

bushdoc9919:
That is the problem....ultimately the oil money is not enough and the subsidy money needs to be spent on industrial support infrastructure...so that we can get off oil.

Subsidy money is NOT spent on any support infrastructure, subsidy money is claimed to be spent on subsidizing the cost of fuel. Please do not spread any FUD.

bushdoc9919:
Oil is a curse.

Surely, UAE is not cursed; Saudi is not cursed; Qatar is not cursed; Is not from the oil and it's blessings that Dubai can make snow fall in the desert and Americans come skiing! Haba, we are the ones that need to examine ourselves, oil is a blessing.

calaharry:
Modern refineries are wht we need not obsolete technology we can't use and kept refining abroad.

Iraq's newest refinery is older than our oldest refinery, yet they are not complaining about old technology.

enm:
Sorry to those expecting cheap food stuff. You can not sow coco yam and expect to reap potatoes.

Once upon a time this rice were wasting away in the storehouse of the farmers because we were complaining of them having stones, not pretty and polished as imported ones and this make this farmers to sell at ridiculous cheap price thereby incurring debt and remaining in poverty.

Well for your information, like Jonathan or not, the wise and truthful farmers like him and not ashamed about him because of what his administration has done in agriculture. I agree the money they claimed to have spent seems not to correlate with what is on ground ( don't forget the Nigeria factors ) but i won't comment further until indisputable fact are presented before me.

This administration took a bold step though costly and i ate ofada rice without stone but people were complaining of the time it takes to cook ofada and other local rice. People were denigration this rice because they were produced locally but thank God that come to the rescue of the farmers, this rice that we look down upon are now being sought after in the international market. So put yourself in the shoe of the local rice producers or farmers and ask yourself this question " between international and local market which is more profitable, which one will increase my financial power" don't forget this farmers have family and needs.

I will also like to advice us to brace up for more price hike in food stuff. If you don't know ordinary ugu " pumpkin vegetable " is the export market. People are now coming to add value to this food. You see people setting up processing and packaging company for garri, yam flour, beans flour ( no need to wash beans and grind to paste before you can make moi moi or akara ) e.t.c you doubt me? Then visit all the supermarket and some shop in your locality.

And for those of us eating rice thinking and feeling on top of the world that we are eating imported rice, for your information that rice you are eating the probability of it being made in naija is 70 percent to hundred. Stallion, mama gold, flour mill to mention but a few are investing heavily in this sector and have started churning out product to the market but being wise investors just like other investors in other segment of the economy, they dare not label their product made in naija. Except flour mill and their rice good.

What I find implausible in your post is the notion that the Ministry of Agriculture will provide the necessary enablemen for local production of rice, yet allow them get away with not labelling it as "Made in Nigeria"!

SON and other agencies will definitely cone after them us this was so. Of what use is the government going to be boasting of such achievements if beneficiaries don't label appropriately?

Anayordike:
Hi guys Pls I need helpful info here. I saw a tokunbo bb z30 I was about paying when I decided to check the internal memory only to discover it has less than the said 16gb with which the manufacturers said it has. I think it has 6gb or less. But for sure it is not display in anywhere that it actually has 16gb. Any idea what happened to the memory or am missing something ? Thanks.

You might want to check if the previous owner's data are all still on the device. If all the previous Owner's Pictures, video and files are still on it, then you will see less than 16GB of data remaining on the device.

What to do, Go to Settings->Security, select Security Wipe. Once that has finished (it will take a while) then check the storage and it should be far closer to 14GB.

Rilamaka: Why are you talking like a little child? So you want to tell me that in all honesty, that the election was not rigged?

And that you are blissfully ignorant of the fact that the only free and fair election held was in 2011?

Why would you stoop so low because of tribal hatred and sentiments? Or degrade your knowledge? Or are you really that ignorant?

You are quite deluded!

So to you, the reason Ojukwu lost in ALL South East and South South states to a Northerner was because the elections was rigged by a South Easterner for the Northerner. And all the South East and South South faithfuls sat meekly and celebrated the election of Yaradua? Your lack grown ass reasoning is even worse than that of a child.

And to top it all, you believed that the 2011 elections was not rigged even with the South East and South South returning a >97% voter turn out! That must be the joke of the century.

anonimi: Is the highlighted true - that the quarantine facilities are in the FG medical compound in Yaba

Fashola & PAC are obviously just being CHILDISH, PETTY and trying to score cheap political points as usual rather than face their job of delivering on the BASIC services, utilities & infrastructure to the residents of Lagos in line with their constitutional RESPONSIBILITY.

You don't need to ask if true, Google is your friend. Reading the earlier posts on the thread would also help you a lot. You can choose to believe lies as much as you want so long as it helps to make you happy with yourself.

0rlando0woh: Fashola the so called excellent governor and Presidential material cannot even contest because he sold his birthright to his Fulani masters for a plate of Túwò Shinkafa abi na Tùwó masara.
You can kill yourself if the truth irks you.

So in essence, you agree that your folks sold their souls for a plate of Tuwo when they chose and voted Yaradua over the Ikemba himself. No problem, I understand where you are coming from and thus your reasoning.

Alleybuy: I am not satisfied with what APC/ACN/AC/AD has given in Lagos since 1999 either. Mur*afuckas

In that case, may you receive in your life what PDP has given Abia State since 1999.

0rlando0woh: It is also quite unfortunate that he sold his birth right to the Fulanis for a plate of Túwò Shinkafa

The same Fulanis the people of Anambra, Imo, Enugu and Abia states voted for when Yaradua contested against Odumegwu Ojukwu. In case you decide to be an Ostrich, Yaradua a Northerner won over Ojukwu, an Igbo man, in each and every one of the South East and South South states. (Or was it the Yorubas in those states that voted for Yaradua?)

So tell me, when did you realise that being in a party with people from the Northern parts of the same country is selling ones birthright on a plate?

Analystshariff: He added that when an official report is received, the university will take action.
“As you know, ABU does not tolerate indiscipline. Investigation would be carried out and both the lecturer and student would be punished accordingly. There is no doubt about that,” he said.
https://dailytrust.com.ng/daily/news/34616-abu-don-caught-in-female-hostel

I wonder what action the university will be taking and on what grounds such action will be predicated on.

1. The incident happened at a PRIVATE HOSTEL and not at any ABU hostel.
2. It is the owner of the Private Hostel that banned entry for men, thus this is simply a case of TRESPASS.

All this hullabaloo means nothing; the guy is only guilty of being in love.

messpero90: Let me make something clear to all in nairaland. "PASTOR ANITA cannot file for divorce in london. Because they got married in NIGERIA, even if she wants to file 4 divorce it must be in Nigeria. I know dat she has a dual citizenship but her father is from Nigeria. "there is something strange abt dis issue bcaus d devil is at work.

The ONLY thing you made clear is your ignorance. Please learn more; read more and widely to ensure you increase your knowledge.

Sanchez01: https://static.goal.com/361000/361041_heroa.jpg
Nigeria international and Villarreal forward Ikechukwu Uche has denied claims by coach Stephen Keshi that he demanded for apology before honoring an invitation to play for the Super Eagles.
Keshi on Wednesday revealed the pint-sized player was not invited to be part of the African Nations Cup preparatory team to play Congo and South Africa because he wanted to be begged.

"He was supposed to be part of the team that is presently in camp but he said we must beg him first to play for Nigeria because he was left out of some competitions but I can’t beg anyone to play for Nigeria, impossible. That’s why he is not here,” said Keshi in a press release by Super Eagles media officer Ben Alaiya.


Source: http://www.goal.com/en-ng/news/4093/nigeria/2014/09/04/5083435/ikechukwu-uche-rubbishes-keshi-claim?ICID=HP_BN_2

Looking critically at Keshi's statement, some things become glaring.

a. At what point was Uche supposed to be part of the setup, since he was actually never invited?
b. Was it that Uche's name was on a list to be published? if it was, how did Uche get to know of the list?
c. Was it that Keshi showed the list to someone, who now told him what Uche wants?
d. If Someone had told Keshi that Uche wants to be begged, did Keshi confirm that Uche truly said that?

Since Keshi never claimed to have spoken to Uche, it implies that he was acting on hearsay and was probbaly looking to call a dog a bad name to hang it. Keshi needs to drop his ego.

Tundeiab: Bro, it's originality and not originally!


Hahahahaha.

At least you used your brains for once. Happy to have been of help to you. (BTW, that typo was caused by the smartphone auto correct.)

Tundeiab: See this yaba left escapee!

Tundeiab: your appointment with the psychiatrist is long over dew.

This sums up your entire reasoning abilities: No originally, lacking depth, pedantic, childish and ultimately Stupid.

Tundeiab: Bros! Your lies are in the class of their own. May be you didn't quite understand the write up. They have been lying down there unattended to for the past 11 years. They didn't just approve the importation 11 years ago bro!

Read threads properly before commenting.

And OBJ that you want to blame for this has been the President for the past 11 years!

As I said, your reasoning takes a holiday funded by sentiments.

Tundeiab: ask your dad cos he can compare this government and the past. You are just a kid who didn't really know what happened in the past government

The reasoning of a nincompoop! Based on your reasoning, your education has been wasted on the altar of sentiments.

I'd school you on History on any day of the week.

M4gunners: Just listen to urself.Is it awarding contract and necessiating the importation that matters? If the contract you awarded is not carried out, as a president who awarded the contract what will you do?

What has the President for the past 6 years done?

Tundeiab: didn't your OBJ write a stupid letter to GEJ which was meant to indict him? Did he mention that in his letter ? Any way I saw the letter as a last stroke at redemption from a failed leader.

Whether you like it or not God has a purpose for allowing GEJ to become our president at this point in time.

You are indirectly fighting God with your hatred-inspired comments. Remember what the Holy book says that there is not a leaf that falls from a tree without Him(God) knowing of it.

And going by your stupid reasoning, God had a purpose for allowing Abacha rule us.

Sure we can even extend it that He sure has a purpose for allowing Boko Haram in our land at this period or that He allowed the Ebola scourge. STUPIDITY of the highest order.

M4gunners: So nobody blame OBJ for this? If it's GEJ, anti GEJ will be hear running their mouth.Holding what belongs to us for their selfish reasons.Good job GEJ and his goverment are working.

Go ahead and blame the man that awarded the contracts that necessitated the importation.
But praise the man that has been part of and head of the government for almost 8 years while the equipments laid wasting away.


Good thinking there Bro, SMH.

Btruth: Listen, what I was speculating was the time frame, at least we all knew who was in power then. Also, we knew how much was/is Atiku in love with corruption......lol. And besides, why are you so disturbed? Is Atiku your brother?

If your speculation was on time frame, then that would have pointed you to ask who has been in charge since?

Is your inability to think this through because the answer will point to your brother?

Tundeiab: You don't seize to amaze me with your myopic mode of reasoning... Good Luck hasn't even finished his first term in office you are here talking gibberish.

Your boss OBJ spent how many billion of dollars in a bid to salvage the power situation in the country, did he succeeded? Better pikin in person of GEJ is trying his possible best in trying to clean up his mess you come dey yarn "opatala"...lol

You guys are just envious of GEJ cos you know no one in your generation thus far has been able to achieve his feet. Let the poor man be, at least till 2019.

BAD BELLE PEOPLE.

When you turn facts upside down, it shows you are either mischievous or just plain daft. Yes he has not completed his first term, however he has been in charge for how long?

You can keep trying to blame the man that left being President 8 years ago and absolve one that has been in the Presidency for the past 7.3 years, no smart person does that.

Just so you know, that same OBJ that you are vilifying awarded and facilitated ALL the power plants that are being commissioned now. The Power Roadmap was also designed by the same administration.

You can keep deluding yourself and the clueless govt, we are all still in the same country. Sadly!

Tundeiab: How old were you 11 years ago?.... 5, I guess,if not Your malfunctioning brain ought to have told you that OBJ who was at the helm of affairs then knew about this importation but decided to block its clearance because he is one of the major importer of generators(from a reliable source).

Inshort you need brain transplant...

Your inability to have a simple and sound thought process is evident here.

So you'd rather believe that the man that provided the budget, released the funds and got the equipments ordered will then go ahead to block their clearance.

Let me humour you, let's even assume he did, what happened to the government that has been in power since the same OBJ left power about 8 years ago?

They were sleeping or when making all their various promises about steady light oblivious of this containers? It is people like you that lack rational thinking that gives these people the ability to get away with these things.

On the brain transplant, mine works splendidly but I can consider donating blood to you, maybe it will improve your brain's abilities.

PrinceCharmiing: My question is 11 years ago, who was the president? He should be thrown into one of those containers for eleven years without food or water. OR he should be shot 11 times in his dumb skull!

See plain nonsense. That President was OBJ and guess what, he deemed it necessary to import those equipments for Nigeria's use and some were cleared during his term.

The question is who has been in government for the past 7.3 years of this 11 years rot? Sure you'd swallow your vomit when you know the answer.

You need to open your eyes and start removing sentiments from your thought processes.

Btruth: 11 years? Well, that was during Obasanjo & Atiku regime. And Atiku is known for serious importation of generator. And the same man was/is a cabal especially when it comes to custom duties. Atiku should have a hand in this. He's a serial generator importer.

So Atiku has been preventing the containers from being cleared for past 7 years of the Yaradua/GEJ and actual GEJ administration?

Your irrationality is so sickening. Until we learn to be objective in this nation, removing tribal and religious sentiments and dealing with issues squarely, we ain't gonna be moving positively in the development slope.

Tundeiab: People won't blame Obj and Atiku now o, but if na GEJ dem go dey shout Jonaaaaaaaaaah ooooooooooooo!!!

Smh!!!

Typical clueless thinking! You want to blame the people that ordered the equipments but not the man that has been part or at the helm for almost 8 years of this nonsense.

Where in lies your sense of equity?

Techwriter: Is it that GEJ is working and his government is undoing many coverups and administrative negligence or that he is doing all this because of next years election? I used not to support this dude, In fact I even voted against him but truth be told I may have been wrong. With several "transparent" projects to empowering the youth with entrepreneural drive, to the railway wonders and now rebuilding the desolations of many generations of leaders, I think I can say he is trying. Anyway this is my first time saying this on Nairaland.

However, every government should read emeagwali's thought about Africa and the way forward. I found it very inspiring(not minding the controversy surrounding the writer) http://think2wize..com/2010/09/where-is-africa-going-wrong.html

Very funny that you believe GEJ is unravelling anything. The sane GEJ that has been in Aso Rock for almost 8 years out of the 11 years of this?

Billyonaire: Shell is facing corruption and spillage charges in international courts and now they are selling part of their assets to other companies owned by their surrogates. In the end, its just a change of name to avoid much losses after court ruling. I can see through their lies and mischief cos I do this all the time. Crazy corporate m-o-t-h-e-r-f-u-c-k-e-r.

Sure takes a liar to see through a lie!