₦airaland Forum

dkdmy:
This is sad indeed! If they can attack the well guarded VIP what of the common man? God save Nigeria

no convoy is immune to attacks..the koko is dat did dey succeed in bringing down the GCFR ..I guess not.

person dat cannot even commission tiger gen in makurdi ..
ortom go and pay salaries..today is 5th of july

ortomatic failure

ufotunang:
... even the government owned refinery the federal government is not serious in rehabilitating , repairing and upgrading the refineries... and dangote refinery is taking years for it to start operation ...he said he is looking for 300 billion naira to complete the construction of the refinery inoder for the refinery to start to work

there are 3 government refineries in ph, warri and kaduna

ph being the biggest of them all with a capacity of 210,000bpd is under full rehabilitation as we speak at a cost of 1.5bn USD.. goggle is ur friend.the original builders of the refinery are the ones handling the project.

u cannot accuse dangote ..he started that project in 2016 and I trust that he had full budget and enough financial backing to have completed it before 2021..he probably didnt foresee covid 19, russia and ukriane palava plus the exponential devaluation of naira....if e easy go do am

at least he has completed the fertilizer plant..and there was never a day they stopped building the refinery..slow and steady he will complete it with or without any one's help.. The 300 billion is probably to quicken the construction to finish next year

ufotunang:
...it's better to build refinery so that nigeria can produce and refine the fuel, disel, kersosene locally here in nigeria.... what is causing the high costs of fuel, disel ,kerosene is importing the fuel, disel ,kerosene..with dollars... dollars is used to buy those items..which is 600 naira per dollar to import those items.. which makes the fuel disel kerosene to be very expensive...but if it's produced and refined here in nigeria...there is no need of importing the product again and the high landing costs of importing the fuel and those items.. which will be cheap and affordable for Nigerians to afford to buy...is it not a shame that Nigeria world largest producer of crude oil is importing fuel..and we call Nigeria giant of Africa importing fuel.. nawaoooo

read what you quoted again and understand.. except you want to subsidize the refineries. it wont go down in price significantly maybe N50 difference saved as we wont be paying shipping cost..in summary that is really it..the price must tally with the the crude oil price as well as the exchange rate.

at this point we do not need another refinery.
dangote has 650,000bpd which is enough for the country for now. what we need is to rehabilitate the government owned refinery which has a combined capacity of 445,000bpd.. this combined with dangote will ensure we do not import another drop of fuel for another 30 years

Thanksful:
So fashola's ministry is for Lagos alone?

i specified that of lagos alone..there is no single state in Nigeria that doesnt have one federal road under construction..mention ur state and I will tell you a project(road/bridge) under construction or completed

ufotunang:
The things the next president should do is. ...to build refinery or make the other existing refineries to start working effectively so that fuel, disel, gas, kersosene can be cheap, provide constant electricity light, make the environment conducive for bussinesses to strive for jobs to be created for the youths and nigerians, restructuring of the country, local government autonomy, construct and rehabilitate the federal roads, boost the agriculture sector..mechanised farming, ranching for the cows( herdsmen), solve ASUU strike finally, quality education and to rehabilitate and upgrade the universities and tertiary institutions, secondary and primary school, quality health care and standard hospitals

the bolded is where you are wrong ..building refineries will never make them cheap only readily available and save forex

inshort .they were never meant to be cheap..their prices only reflect with the market price of crude oil

the second bolded..it various state governors that are straggling the LGAs.. they all have individual autonomy but the state wont give them what is due to them..

third
isnt ranching the same as the RUGA buhari wanted to start.. can you explain the difference..
we have issue of farmer herdsmen clash..the government proposed ranching which translate to RUGA in hausa..everyone opposed it..so what do we want then?

sunboy:
The bank or citizen borrowing all boils down to. Working system where everybody trust the government irrespective of who’s in power.

If borrowing from China is a better interest and money was used 100% as planned, I don’t see why borrowing is an issue.

which money from china was borrowed and not used as planned

below are the projects FG borrowed from china for

500 million USD for 4 new airport terminals
1.5bn USD for lagos ibadan railline
800million USD for abuja kaduna railway
abuja-keffi-lafia-makurdi expressway(cant remember the loan figure)

please which one of these projects is not going according to plans

has lagos ibadan railline not reached 90% completion
is abuja kaduna railine not completed

3 of the airport terminals are completed and are in use except kano which is still in progress
the road constrution btw abuja and makurdi is over 80% completed inshort they have reached the river benue bridge..so what ur point exactly

sunboy:
You nailed it except for …
1. Borrowing sensibly to finance infrastructure is not bad, what is bad is the corruption that exist in this institutions where every details of government contracts is not disclosed and the contract or some too government officials have a loop hole to squander majority of the money.

Corruption is the problem, how the borrowed money was managed is the problem, little or zero accountability for people in power.

In as much as I don’t want Obi, Atiku or Tinubu in power. Nigeria is way over due for credit system, once we transition from just cash to credit economy a lot of people’s purchasing power will increase. Everybody borrows to build infrastructure no big deal about that, but borrowing internally would have been a better option especially from our banks, or the citizen.

The Us treasury borrow money from the citizens and the banks everytime, and usually have some of the highest interest rates at maturity.

Nigerians are dull and daft..

there was a time government wanted to use unclaimed money left by dead people in banks to finance infrastructure...money that have accumulated to billions..instead of wasting them in the banks and allowing them to lose value over time why not use it to do better thing..

they wanted to swallow zainab ahmed raw..

just bury the idea of borrowing from the citizens..Nigerians including the educated ones are still daft..

we currently borrow from our central banks ..most commercial banks are not big enough to lend billions of dollars easily..if they do it comes it high interest compared to china exim bank

GeneralDae:
is Fashola minister of works for Lagos state or Nigeria?

lagos handles 90% of all our imports..every foreign made u own and will ever own will pass through lagos...if Lagos is not given the needed support in infrastructure..it will have a multiplier effect on you weather u are in borno or sokoto...

lagos ,ogun and ibadan handle 86% of most manufactured goods...if the necessary infrastructure isnt available,...the cost of production increase and it will affect u even if u live in sambisa forest...

Lagos state remains top priority..

anyways ..there is atleast one federal government road under construction in the whole 36 state

Saintinoo:
Listen to me, I don't do argument of sentiments and ignorance here, check my comments on Nairaland.

Now tell me how railways built by Ameachi have improved the economy?

I know what railways do to a country economy, as a means of transportation, railway is important because it facilities easy movement of raw materials and finished goods for the manufacturers and farmers alike.

When being developed, it creates heavy revenue for the state.

Now, has Nigeria benefitted the aforementioned since Ameachi bought coaches that travels from Abuja to Kaduna?

Go to countries like China and India and see how railways are being used. Today transporting a 100kg bag of rice from Adamawa state to Lagos state is more than 5000 naira, and they say we have railways, so what is the UAE of the said railways.

I doubt if you have entered these rail coaches because the last time I checked, only Abuja to Kaduna route is currently functional.

I do not entirely disagree with what you have said

but I find it laughable thatyou accuse The federal government for buikding for show off

you should accuse most of our state governors for dat

aside the railways every other piece of infrastructure this government has built is vital..
it not just about building roads to connect villages that produce food..

it about building infrastrucuture to every town and village that produces large proportion of items not necessarily agriculture only

lagos, ogun and ibadan produces 86% of all the made in Nigeria goods..you want to tell me constructing Lagos - ibadan expressway is show off?
onitsha has the largest concentration of businesses and industries aside lagos ..and u say 2nd niger bridge is show off as well?
apapa - oworonshoki express road is where every thing we use that comes from apapa passes through..an fashola building a 10 lane concrete road is show off and has no economic value?


inshort point to one piece of federal road the ministry of works and housing handles that is showoff..am waiting

look ..ignore education and SMEs (who mostly import) for now.. The reason why Nigeria can not produce is simply because if it does the final product can never match what is coming from asia..and ones ur price does is not cheaper than the chinese variant or asia ones..no body will touch it..

and this happens because there is no infrastructure that can cut down the cost of production..no refinery, no railway, no power, no road..
the absence of all this fustrate production..
u want to invest in SMEs before you invest in infrastructure..where is the road they will use to transport their produce or the power they will use..

infrastructure grows the economy.

now to railways ..the railways this government has built are sections of a project.. you cannot see the benefit of it yet simply because it is not completed.. the Lagos kano railline is meant to connect apapa and tin can island and pass through the zones that heavily contribute the economy(lagos,ogun,oyo,kano)...until the line is fully completed u cannot see the benefit..
amaechi has only built lagos - ibadan.. it hasnt been fully connected to the lagos port..meaning sufficient cargo cannot pass...there are no dry port yet along to the route to handle the cargoes moved on the rail..one is planned in ibadan and kano...abuja - kaduna was built by GEJ and it is part of the line..until apapa and tin can island is fully connected to ibadan is fully connected to abuja u will not feel the impact..this cost billions of USD..dat y it being done in sections with loans

I can admit that the benefit of the railways cannot be felt simply because it not finished....but it is foolishness to argue that there are no economic benefits of abuja-kano road, lagos - ibadan expressway or apapa oworonshoki...

we need the technology of the western world to produce and grow..africa is cursed that we never developed any...investors will never come (local/foreign) and invest if there is no infrastructure... all the leaders btw 1999-2015 has not invested heavily in infrastructure than this government from roads, bridges to railways..it is a vital aspect which is power that they are all failures

now I do not disagree with Obi's point..but all obi keep saying is we need to invest in SMEs and education..(anywise person will know that the benefit of all this will only be felt in atleast a decade to come)..Obi will tell u india, Vietnam bla bla lifted millions out of poverty...one thing Obi will never go detail about is how dey did it...he will only tell u the result of what ever they did...
he will say eygpt tripled their power supply..he will never stress about how they did it and how he plans to do it in Nigeria

fashola and Obi are not mate..fashola believes infrastructure and he proofed that he can provide better infrastructure by borrowing loans, issuing Sukuk bonds, tax credit scheme...except ur blind u will say u havent seen that this policy has produced physically..

how on earth does obi want to triple our power supply..how does he want turn Nigeria magically into a producing nation without infrastructure..until he tell us all of this..we dont believe in his words...

I trust sowore 2x than obi cuz sowore gave detail on how he intends to actually change nigeria and his process..Obi will be busy telling u about what other countries have achieved..how dey did it and how it can be realistically be done in Nigeria Obi has never explained

anyways he is better than Tinubu and Atiku

Nigeria is broke and has always been..broke in the sense the she can not generate enough money to fix most of our problems..
power is a big example..we need loans to fix that sector..that is the plain truth..and that is what eygpt did to fix theirs..
Obi should be honest about how he will get the needed funds to tackle it.. even with the right policies Nigeria can never fund the cost of fixing power..that was why the siemen contract was signed..loans were to come from germany ..God knows why it failed

this government is borrowing loans(1.5bn USD) to fix PHcity refinery..and more loans to fix warri and kaduna..
they gave dangote exclusive access to forex to build his refinery

one thing Obi hate is loans...every sensible person who listen to Obi all the times knows he despise this government for borrowing to fix infrastructure and how much they have squandered for infrastructure

I want to see how Obi wants to fix the rest of the refineries and power without loans...and it why I support him to become president

SIRTee15:
So in what way will the FG bring about your production investment. By building industries or by giving loan to business man to produce? How does the govt boost production?
Do u know why Nigeria cannot compete against the asian countries esp china when it comes to production and export. Why are Nigerian industries not competitive?
The answer is the price differential. If your final product cannot match what's coming from asia, nobody will touch it.
To achieve this u need a strong value added chain sector- from primary product to final product. The supply chain must be quick, efficient and cheap. Importing component and assembling into final product is waste of time. That's not industrialisation.
2. U need infrastructure esp Power. Electricity and transport must be damn cheap and the cost shouldn't be factored into the final product.
3. Good economic and fiscal policy to encourage home grown entrepreneurs and attract foreign investment.
U guys are joking when u say we don't need foreign investors. In fact, u need them more than anything. They will bring in their technology and ensure accessibility to foreign markets.
4. Invest in human capital. Promote good technical education and ensure a healthy and well motivated work force.
5. Security! Security!! Security!!!
6. More and more infrastructure. In power, transport, ports, ware houses, supply chain, logistics etc

We really need sound technocrats to educate people on why our economy isn't productive. Buhari really messed up this country that people don't even have an idea what good governance is all about.
OBIDIENT CREW SHOULD STOP BLINDLY CONDEMNING ECONOMIC POLICY SIMPLY because ITS NOT FROM OBI'S MOUTH.
That was how they were foaming in that credit system thread.
I'm yet to see the full detail of Obi's economic blueprint. Something Obidient crew should be doing instead of criticising other peoples plan.

the bolded alone has said it all

osca234:
Nigerians are yet to see the infrastructure after 7 years now...all you do is speak English and confuse your gullible APC followers.

Obi has the Simple solution that can turn around Nigeria in just 4 years

When you Listen to Peter Obi objectively you will see he is the one with the solution.

lol..what simple solution..

turning Nigeria into a producing nation can never happen within 4 years..

Nigeria will need loans to fix power..

Thanksful:
Fashola is a big failure under Buhari. Is he not the one managing our power? For 8 straight year, he couldn't no anything.

Look at our roads. Are they not death traps?

he no longer handles power.. beside he is the best minister of works ever..
in Lagos specifically..b4 2015..all the federal roads in lagos state were death trap..

today.

there is no single fedral road in lagos that isnt receiving attention

lagos - ibadan
apapa - oworonshoki
ikorodu - sagamu
lagos - badagry
lagos - abeokuta

this are all the worst and most significant roads in lagos...Fashola's ministry is building all

CheapHomes1:
Off point.

Do Benin, Togo, Ghana and other nearby Africa country produce crude oil? Which are the any nearby African countries you are talking about?

Why has the price of fuel and cooking gas increased in Europe? Do they have crude oil in Europe?

In terms of subsidy, are you aware that Germany is subsidizing for it's citizens?

Also, we thought subsidy on diesel has been removed and the promise was that it will be more "competitive"? Where is the competitive?

none of the mentioned countries produce oil..
price of fuel and gas increased in europe thanks to putin
no they dont have crude oil
yes i am aware germany is subsidizing for it citizen the same way nigeria subsidize PMS for it citizen
who promised you competition if diesel subsidies are removed


now dat I have responded to ur questions..what is ur point?

Johnrake69:
You're simply a clown. So Diesel is cheaper in Venezuela or Angola not because they have crude oil abi? Why is it not possible with countries that don't have crude oil?

The only reason Iran or Venezuela is able to keep price of diesel so low is because they have oil. If they didn't have crude oil and relied on international prices it won't have been possible. It's only common sense.

Cost of importation of diesel from Europe include shipping, taxes, insurance, cost of production that includes labour cost. Can you compare the cost of labor in Nigeria to that of Europe?

Alot of cost factors goes into it.

You people always rush to compare Nigeria to Europe and America leaving out the most important indices like per capita income, subsidized agricultural industry.

America subsidize corn, Soyabeans, wheat, cotton and rice.

EU has a huge Subsidy package for farmers.

What's my own. Let's continue to rationalize deliberate impoverishment of the Nigerian masses when the crisis will start everyone of us will face it.

den dont waste ur energy and simply say u want government to subsidize diesel..simple

Togo do not export crude oil...ethiopia have crude oil reserves but not sufficient enough as it imports all it petroleum products..yet they subsidize it...

even south africa dat we all know makes it money from mining does not produce crude and import all it petroleum products..guess what....they also subsidize
https://www.bloomberg.com/news/articles/2022-05-31/south-africa-extends-fuel-subsidy-to-offset-soaring-oil-prices

have crude oil doesn't necessarily mean u can keep prices low...it all about subsidies...any country i repeat any country can keep it prices low as far as she is able to pay subsidies...

i expected you to have checked how much iran , venezuela and co spend to subsidize their products..now compare that figure to their national budget in percentage..

there was no need arguing all through...

the true message u are trying to pass is government should spend extra trillions on top the almost 4 trillion going into PMS alone to subsidize diesel, LPG, jet A1 etc

Johnrake69:
Lol... You're just an ignorant Mofo. I can bet my life you don't even know what hustle is about.

Show me where Europeans and Americans are buying gas at 500% increment from last year despite the Russian and Ukrainian war?

Your level of ignorance in this country needs to be given special attention.

What we have is imported inflation because the APC government failed to build new refineries or make our old ones to work like they told us before they got into power.

It's only in Nigeria we make excuses for clueless government.

And telling me that even if we produce diesel the difference won't be more than #50 really shows how daft you're.

A simple Google search would have help cure your ignorance.

Iran sells diesel locally at $0.011

Venezuela $0.022

Angola $0.315

Algeria $0.199

Ethiopia $0.679

Togo $1.064

America $1.511

Nigeria $1.617

Presently Nigerians are buying diesel higher than Americans.

Our per capita income is $1800 while America is $63,000.

that is why i said u reason like an illiterate..

first of all.. producing crude oil locally will not push the price of PMS or diesel to drop exponentially...except if the local refineries will buy crude oil from NNPC at a price that is exponentially lower than the international prices/OPEC prices..(this is in violation of Nigeria's membership as an OPEC member as she should sell it crude oil in correspondence to OPEC pricing)

an even if NNPC go ahead and sell crude at lower pricing...they have in another form introduced subsides

secondly the only way the prices drop if we produce locally is if CBN introduces excess amount of dollars into the forex market..creating excess supply and allowing them to sell a dollar for like N200 instead of N414 officially (this option is realistically impossible )

in summary
if the exchange rate remains the same, crude oil still the same at slightly above $100, government is not willing to subsidize local refineries
producing diesel locally is not going to drop the price by exponential rate compared to importing..what we will save is shipping cost and some taxes that goes to the countries we buy from

major experts in global economics including the CBN governor, aliko dangote, our finance minister zainab ahmed, Rabiu and evrn africa development bank CEO Akinwumi Adeshina and Okonjo Iweala.. all said that the local production of fuel by dangote refinery or any other private refinery will allow Nigeria save huge foreign exchange and end fuel shortages.....they have never in their lives said it will reduce to cost of fuel ....(use ur google and confirm this too..since u dont have sense )...why not go and insult dem all and call dem mofos maybe they dont know what they are saying..

now to diesel..

Iran sells diesel locally at $0.011

Venezuela $0.022

Angola $0.315

Algeria $0.199

Ethiopia $0.679

Togo $1.064

America $1.511

Nigeria $1.617
ur pricing are very accurate but u intentionally ignored the policies behind them
iran, venezuela, algeria, angola, togo, ethiopia all subsidize diesel ..inshort all the countries u mentioned subsidize diesel at different rates..
iran can handle it subsidies to keep diesel cost around cents..
togo being a poor country manages to keep diesel at about a dollar compared to $1.6 as it is sold in Nigeria...

if u think..diesel is so cheap in iran, venezuela,algeria etc..because they have oil then u are a joker..make ur research

Nigeria does not subsidize diesel or gas...it only PMS dat is subsidized....every other product sell at prices related to the market..it has been like this since obasanjo time..only PMS is subsidized and it cost us N3 trillion yearly
..if u want diesel to come down simply say buhari should subsidize diesel and gas

https://www.togofirst.com/en/oil-and-gas/1206-8016-state-spent-cfa13-billion-to-subsidize-petroleum-products-since-2019
https://english.news.cn/20220410/e9a697984dc742e28dd071cf01b6ff28/c.html
https://www.iranintl.com/en/202202042437

u can use google to get more facts

CheapHomes1:
You haven't answered the questions I asked

Do Benin, Togo, Ghana and other nearby Africa country produce crude oil? Which are the any nearby African countries you are talking about?

Why has the price of fuel and cooking gas increased in Europe? Do they have crude oil in Europe?

In terms of subsidy, are you aware that Germany is subsidizing for it's citizens?

Also, we thought subsidy on diesel has been removed and the promise was that it will be more "competitive"? Where is the competitive?

[quote aut

CheapHomes1:
You haven't answered the questions I asked

Do Benin, Togo, Ghana and other nearby Africa country produce crude oil? Which are the any nearby African countries you are talking about?

Why has the price of fuel and cooking gas increased in Europe? Do they have crude oil in Europe?

In terms of subsidy, are you aware that Germany is subsidizing for it's citizens?

Also, we thought subsidy on diesel has been removed and the promise was that it will be more "competitive"? Where is the competitive?

hor=Johnrake69 post=114316441]



first of all.. producing crude oil locally will not push the price of PMS or diesel to drop exponentially...except if the local refineries will buy crude oil from NNPC at a price that is exponentially lower than the international prices/OPEC prices..(this is in violation of Nigeria's membership as an OPEC member as she should sell it crude oil in correspondence to OPEC pricing)

an even if NNPC go ahead and sell crude at lower pricing...they have in another form introduced subsides

secondly the only way the prices drop if we produce locally is if CBN introduces excess amount of dollars into the forex market..creating excess supply and allowing them to sell a dollar for like N200 instead of N414 officially (this option is realistically impossible )

in summary
if the exchange rate remains the same, crude oil still the same at slightly above $100, government is not willing to subsidize local refineries
producing diesel locally is not going to drop the price by exponential rate compared to importing..what we will save is shipping cost and some taxes that goes to the countries we buy from

major experts in global economics including the CBN governor, aliko dangote, our finance minister zainab ahmed, Rabiu and evrn africa development bank CEO Akinwumi Adeshina and Okonjo Iweala.. all said that the local production of fuel by dangote refinery or any other private refinery will allow Nigeria save huge foreign exchange and end fuel shortages.....they have never in their lives said it will reduce to cost of fuel ....(use ur google and confirm this too..since u dont have sense )...why not go and insult dem all and call dem mofos maybe they dont know what they are saying..

now to diesel..

Iran sells diesel locally at $0.011

Venezuela $0.022

Angola $0.315

Algeria $0.199

Ethiopia $0.679

Togo $1.064

America $1.511

Nigeria $1.617
ur pricing are very accurate but u intentionally ignored the policies behind them
iran, venezuela, algeria, angola, togo, ethiopia all subsidize diesel ..inshort all the countries u mentioned subsidize diesel at different rates..
iran can handle it subsidies to keep diesel cost around cents..
togo being a poor country manages to keep diesel at about a dollar compared to $1.6 as it is sold in Nigeria...

if u think..diesel is so cheap in iran, venezuela,algeria etc..because they have oil then u are a joker..make ur research

Nigeria does not subsidize diesel or gas...it only PMS dat is subsidized....every other product sell at prices related to the market..it has been like this since obasanjo time..only PMS is subsidized and it cost us N3 trillion yearly
..if u want diesel to come down simply say buhari should subsidize diesel and gas

https://www.togofirst.com/en/oil-and-gas/1206-8016-state-spent-cfa13-billion-to-subsidize-petroleum-products-since-2019
https://english.news.cn/20220410/e9a697984dc742e28dd071cf01b6ff28/c.html
https://www.iranintl.com/en/202202042437

u can use google to get more facts

Awise09:
What are you saying?
even if we produce diesel locally..the price difference cannot pass N50..meaning..the diesel price will still correspond to the exchange rate and price of crude oil,..

oga it cannot...except u begin to subsidize again..
if we produce it from profit making refineries..the prices will not significantly drop..what we will save is forex and shipping cost..

FuckAllTheMODs:
Stop this argument abeg, it is not making sense.

Normally, a private transport company suppose cost past government own because government is expected to subsidise their prices using money generated from other source as a form of providing basic amenities to their citizens, since government has numerous source of income unlike private ones.
But in this case na government own dey cost and they are in a way encouraging those private transport companies owners to increase their fares, because normally dia own no suppose cheap pass government own.

Ask your self why pump prices are always lesser in government owned fuel stations OR major marketers own?

Again, ask yourself why government sell fertilizers, rice, beans etc, at cheaper rates than private sellers?

Do you even know the major(main, primary) reason government is into such businesses?
The major/primary/main reason government is into such business is to make life easy for their citizens, by providing subsidise transportation, fertilizers etc at cheaper rates to commuters, farmers i.e citizens in general, so as to improve food availability.

Unlike private owners who are primarily into those businesses for profit making, making life easy for their fellow citizens is secondary or none of their business.

lol ...I never knew government sell rice and beans

anyways..in 2020, diesel was around N180..transport via BRT from ikorodu - cms was around N300
today diesel is N800+ and still rising.. even though it is th responsibility of government to ensure to cater for the citizens which is what they have been doing..it will still put extreme pressure to sustain a service in which it cost of operation has increased by over 400%..

even if u want them to continue even if diesel reach N2000
know that money that they use to pay workers and build infrastructure is what they will remove from to continue to sustain it...in a long run..the citizen will still suffer in another form...

CheapHomes1:
Do Benin, Togo, Ghana and other nearby Africa country produce crude oil? Which are the any nearby African countries you are talking about?

Why has the price of fuel and cooking gas increased in Europe? Do they have crude oil in Europe?

In terms of subsidy, are you aware that Germany is subsidizing for it's citizens?

Also, we thought subsidy on diesel has been removed and the promise was that it will be more "competitive"? Where is the competitive?

producing oil isnt an excuse..my friend..
what Nigeria will save if it is produced locally is forex and the cost of transporting the product on sea..the original price which almost the same as the landing price of petroleum products in nigeria today remains the same

inshort petroleum product in every african country is relatively the same excluding (taxes and other levies)

what makes it cheaper in the countries that produces oil e.g Nigeria and angola is because they pay SUBSIDIES!
germany is subsidizing the same way nigeria subsidizes PMS...otherwise..do u think it magic that PMS maintained it price at around N167-N170 and diesel and gas, more than double and tripled respectively..

the US has excess crude and enough refining capacity...it like u havent been in the news lately to know that gas has doubled in the US...

Diesel isnt subsidize that is why it rose from N180 to N800+..while PMS rose from N147 to N170..
government spends N3 trillion every year to subsidize PMS alone...

ur problem is dat you want government should spend trillions and subsidize cooking gas, diesel, kerosene, jet fuel even lubricating oil..
u for kukuma say let spend our entire budget to subsidize all petroleum product na

right now we re at the mercy of dangote to finish his refinery not necessarily to reduce the price but atleast reduce the long queue..

marketers are seeing the business as less profitable this days that is why they are refusing to transport the product to all part of the country conveniently

Johnrake69:
Who is responsible for the jump in diesel? Is APC not the ones Nigerians voted into power to solve problems?

Why are you people always looking to defend an anomaly? How much are you paid?

Ojota protest comes to mind. Increase was about 60% the current clowns in government were ready to shut down Nigeria. Today we have experienced about 500% increase in Gas and diesel and everyone is quiet.

you sound like an illiterate(doesnt mean u r an illiterate)..sorry to say..and i didnt insult..
this is the same mentality the average thugs and touts on street have

did buhari send ukraine to go and romance with NATO or putin to start a war..or u think this increase is only in Nigeria

the same BRT price u paid in 2020 when diesel was N180 is the same price u want to pay when it is N800..haba na..u sef check am

APC isnt responsible for the jump in oil prices and diesel respectively..it is a deregulated market..meaning the price is determined by how much marketers import the product..

even if we produce diesel locally..the price difference cannot pass N50..meaning..the diesel price will still correspond to the exchange rate and price of crude oil,..

u have to admit that the cost of living all over the world is exponentially high and this is beyond government..
double ur hussle..

ordinary phone number wey I wan change if you see the shege NIMC show me...
i neva even finish am...

just follow the laid out guidelines at their office or follow what you are told ..try and ask two to three personnel if possible to be sure of what ur doing.. and remember that they will stress you and frustrate you.. be ready for that

this man must be joking
..inshort e no fit work sef...

if not because he sees the sit as his entitlement..
it would have been better if osinbajo or amaechi won as christian...
u have two strong southern Christian and it wil be easy to choose any strong nothern muslim like ganduje or el rufai..but the bastard wan enter by force by fire without doing the indices... orji kalu must be stupid to say his wife balances it..na d wife we dey vote for?

openmine:
I took the pains to go through the humongous epistle you replied to another nairalander and all you said was simply trying fruitlessly to defend or exonerate an incompetent and clueless president!
Yes Obasanjo and Yaradua had such opportunities to not only remove subsidy but also privatize the refineries or even build new ones!
However that did not materialize,now fast forward to PMB who initially denied that there was actually subsidy which i find comical considering the fact that he was the substantial and first minster of petroleum in his cabinet and still is!
PMB was not elected in 2022 when he took the hasty decision to repair the portharcourt refinery.....its was this year when NLC resisted any kind of removal that he deemed it necessary to provide funds to repair the refinery at PHcity...My question is why did he not borrow funds right from his first term in office to repair or build new refineries? why wait till almost the end of his tenure before contemplating repairs to the moribund refineries as a result of NLC's stand?
Mind you during the time oil prices were down,he borrowed funds for infrastructure while living in self denial about PMS subsidy!
If he had actualized the repair of the Ph refineries in 2014 or 2015 even with borrowed funds,and proceeded to repairing the others,by 2021,the refineries with the built modular refineries would have been serving Nigerians and subsidy would have been a thing of the past!
The repair or building of the refineries would have made him the acclaimed hero and would have endeared himself to the hearts of Nigerians instead of this tale of excuses and blame game that he was known for!
The more i hear about this flimsy excuse that keeps getting regurgitated every time the issue of subsidy becomes an issue the more i believe PMB is as benighted as his supporters!



This is another flimsy excuse that cannot hold water!
Where did PMB get the funds to repair PHcity refinery?
Where did PMB borrow funds to support infrastructure?
The modular refineries which have been built since early last year...why are they not functional?
Do we need a ceremony for the modular refineries to start distillation?
The more questions i ask the more i pick holes in your preposterous attempt to absolve PMB of any blame!


Another load of hapless excuses as if Buhari was elected in 2022!
I thought they initially said the refineries could not be repaired!
So what impeded PMB from repairing the Ph refinery right from the start of the administration? why wait till 2022 before realizing that it was necessary to repair the refineries?
Ohh let me guess...he was taking his time and the idea was to start repairs in 2022!
Chai....


No one is disputing that it takes time to repair or build a refinery however why now?
This is the second term of PMB's administration and you are confidently telling me that the idea of refinery repairs was actualized after 7 years of his administration?
Like i have said before,repair the refineries or build new ones and make it function before contemplating subsidy removal.....Its that simple!




Seriously partnering or trying to partner or already actualizing the plan...which one?
Which year is the plan going to be actualized?
Or is the actualization of the plan going to be extended to the next president?
What a president??
For your info nothing is so far happening at ajaokuta!


Oga stop with this benighted excuse!
PMB had 2 terms not one!
He got 8years not 4years to fix the oil and gas sector being the substantive minister!
If he had tackled the repairs of refineries from the day he stepped into office,you wont be regurgitating this blame game that has gone stale!
Please look for another sensible excuse....this one wont fly in 2022!


Guy man PMB did nothing in the oil and gas sector!
The modular refineries are not functioning!
LPG is now at an all time high because we are importing 75%...so what did he do?
Saudis used 4 years to build 3 refineries...we are using 7 years to build modular refineries that are not yet functioning and started contemplating and actualizing the repair of just one refinery after 7 and half years!
Please go and do a proper defence of the clueless President...this excuse would have made sense in 2014 not 2022!

all ur mentions are filled with emotions rather than complete facts..

LPG is a derivative of crude oil... until we get a working refinery ..we cannot get LPG importation to stop.. repairing PH refinery and supporting dangote all boils to an effort to stop LPG importation..dangote refinery alone will meet the entire needs of LPG..so under CBN support to dangote refinery...isnt dat something being done to stop LPG...or maybe when they told you Dangote refinery will end fuel import..ur mind shifted to only AGO and PMS
i spoked about exporting raw natural gas not LPG.. Nigeria do not have sufficient plants to process natural gas to LPG...right now we can only get LPG from a crude oil refinery... our gas industry isnt even developed or fully tapped...the last investment in the gas sector was done by obasanjo were he built the west african pipeline to ghana...yar adua and goatluck did nothing

i hope u get the difference ..

now u need to note dat PH refinery rehabilitation started in 2021not 2022..through loans..
ur point as to buy it took that long to start was because NNPC has been working on acquiring loans since the first term of buhari..

do you think government can just walk into any bank and borrow $1.5bn ..u must be joking ..there are a lot of processes that has to be met.. it takes years..
if u relate this to railways...GEJ began the process of acquiring a $1.5bn loan for lagos ibadan railline ..and buhari got the loans 2 years after winning the elections(2017)..go and ask china why it took 2 years plus to agree..or ask amaechi why it took that long...there are processes that occur behind the scenes

if other previous government started the process of acquiring the loans with all the necessary approval needed including from our own legislation.. NNPC would have started receiving the money during Buhari's first term...but no they didnt..they went through different route which failed..so the process started sometime in 2018 and they started getting the funds in 2021..hope ur clear...
even before NNPC would start the process of acquiring the loans..
they had to look for the original builders of the refinery..they had to sit down with an eygpt firm to agree on how the loans will work...all the necessary ministries and agencies including the finance ministry and bureau of public procurement will also have to oversee the process according to Law..all these increases the time frame but it must be done according to LAW..

it even shows ur level of reasoning to think that any government can walk into a foreign bank to borrow $1.5bn that over N700 billion and that financial institution will just grant approval in months..this isnt palmpay bro...

i even posted a video to get an idea of NNPC efforts ..but am sure u ignored..

and stop telling baseless lies.. the process to repair the refineries began years ago using loan's ....NLC hardly shakes government will to do anything..they can only wail for africa

I know a thing about engineering and I am sure that if the full funds are provided...some process of the rehabilitation can be rushed to get the facility ready this year...
but those lending the money gave their terms dat they will pay the money in parts rather than at ones..since they are the ones with the money they set the time frame as to which they can conveniently loan all the monies..if i can recall carefully it almost 5 years..NNPC will have no choice but to adjust how they intend to use the money to complete the process..so they divided the rehabilitation process into phases..and the first phase will complete in 2023..

you are talking about infrastructure...do u think buhari woke up on day and borrowed money to build infrastructure....

let me give u a pratical example...the 2nd niger bridge the dull Goatluck started building stalled almost immediately ...
buhari terminated the process in 2015..and began working on another way to start building that bridge..that process ended in 2018...and the began reconstruction in 2018..today it is over 90% completed..
why it took almost 3 years to kick start a new process...u should probably ask fashola since u know more than him...

if u have the will to do something u have to go through the right channel and follow the time frame..these time frame do not respect weather u have 10 years to spend in office or 2 years..

my stand here is other administration probably thought of a way to repair the refineries..it failed..this administration thought of it own way today it is working ..does buhari have 2 heads?..

if u travel alot.lagos ibadan express way has been bad since the time of abdulsalami abubarkar tenure...obasanjo started construction..it failed..goatluck came and did ceremony to flagoff..it failed...buhari came and appointed fashola..fashola thought of a way to fund it...today dat road is smooth

u obviously dont like buhari I dont either...but even when the man is dull..he has appointed sensible leaders to head some ministries and agency (some not all)..and u can see good result...it all translate to something a bit positive about his tenure.

yes nothing is happening in ajaokuta....i am sure the minister of mine and steel is definitely dull..but Nigerians will not care cuz he is yoruba .if buhari removes him and appoint someone competent(maybe from is region as he is more familiar with) ..am sure people like u will wail fulani wan take over.. I can remember when mele kyari,maruwa,sadiq abubakar , bawa amongst others were appointed..Nigerians wanted to vomit blood...those guys now are probably the best to head their various post. Especially dat of the NNPC,airforce and NDLEA..

back to ajaokuta issue.nothing is happening there..the same way nothing is happening with power after siemens contract..
his tenure is gone literally and we can agree he joined his predecessors and failed on that side despite his effort...let see what future leaders will come up with .

and please ..the waltersmith modular refinery in imo state is functional..no dey spread lies..u can not feel the effect cuz it just 5,000bpd..

if there is any administration I will consider a mistake...it probably Goatluck and yaradua combined... Nigeria boasted of progress in Obasanjo and buhari time in some sectors...
and note dat in the era of democracy.. buhari work in oil and gas(fixing PH reifnery, AKK gas pipeline,supporting dangote and modular plant, finally siging the PIB) far exhide what obnsanjo did..goatluck didnt even move a stone..such a fuu

i am not new to all u have said..
am afraid i cannot repeat my self..

this is a copied message of my replies to @subsidywise
we are still saying the samething...

if buhari removed subsidies in any of those so called golden opportunities ..it translate to nothing as there will still be naira devaluation due to the facts that we will still importing fuel... it also means dat the cost of PMS will still be above N400 today the same way it will rise to N400 if he decides to remove the subsides tomorrow.. so what golden opportunity is dat.. the only advantage is dat there will be nothing like fuel scarcity as marketers will freely be able to import it..

but is it worth it in the eye of nigerians after 2 global economic melt downs to now buy fuel at N400 just to ensure it availablility?

you should note dat removing subsidies isnt the final solutions..
there is still the forex part..if u remove the subsidies ..it doesnt change the fact dat over 30% of our reserves will be spent to import it..thereby weakening the naira value..and automatically increasing the cost to consumers...so bury any idea of a golden opportunity that buhari would have used to remove subsidies without nigeria withnessing a multi level of inflation...


buhari tenure had extremely volatile oil market prices...

Obj and yar adua were the two presidents who truly had the golden opportunity..they earned more foreign exhange and more revenue ..they could have simply privatilized the refineries or repaired them .once done..they fully save money from subsidies and most importantly save billion of dollars in foreign exchange...that will futher strengthen the naira and reduce inflation..

u cant end subsidies and keep importing fuel neigther can u do the opposite

they have to be done together ..
buhari knowing fully well dat u he cant build anything after oil prices were below $40..he just supported dangote with forex to build his own and borrowed loans to repair port harcourt refinery..which is ongoing...the next golden opportunity is when this two refineries are done and we can totally refine what we need...then we can end subidies and save forex..

we saved billions in forex can be used to offset the exchange rate ..make dollar cheaper and more available therefore cautioning inflations


i am not @backbencher

lastly buhari borrowed $2.5bn to rehabilitate portharcourt refinery..that is on going...
educate urself with this video..


https://www.youtube.com/watch?v=wKzp7En7PKo

can u compare what the saudis make from oil to ours...where does buhari or peter obi want to see $19bn to build a sustainable refinery...that is the reason why buhari had to support modular refineries to start up and exclusively support Dangote with forex as well as stakes to start his construction in 2016....people wailed at buhari and emiefele or selling forex to dangote at official price while allowig other companies to use black market... but that was the best decision the CBN took to ensure the construction is sustained..

all still points to the right direction of providing a refinery weather it is owned by FG or not and it best the Fg dont own any refinery but support business minded people to build one....what u do not put into consideration is time.... u cant rehabilitate a 200,000bpd port harcourt refinery dat has been moribund for over 3 decades in a year..neither can u build a 600,000 bpd dangote refinery in 6 months..it is not rocket science doesnt mean u can rush the process... u also cannot expect to withness all the result of all these bold steps..it takes time..the same way it took us time to realise we made a big mistake to Choose to subsidize after over 2 decades of practicing it..

it takes time..my stand here is dat if others did this ..things would have be much better..
the final solution is to remove subsidies and immediately switch to local production ..this is the step buhari is taking but u cant rush the process of building or rehabilitating a refinery..

the oil industry has failed us..buhari is the only leader that has thought of how we can forge ahead if the crude oil becomes useless...this is why he is seriously partnering with morocco and algeria and is funding a gas pipeline from ajaokuta to kano...which will be extended to mali and algeria and connect to europe...

bros look at how gas prices has sky rocketed..nigeria even has more gas dan oil
if other past leaders started acting ..we would have been the ones to benefit from the Ukraine russia war...by supply gas to europe..

but no..buhari met nothing and hard to start developing the gas sector and building new pipelines to the north,,there were no refineries ..so he had to introduce modular refineries, support those who wants to build and start portharcourt refinery rehabilation which is FG biggest refinery.. 8 years is not enough to rip the dividends of all this...


i wish i can talk about power...but i will pass


n

openmine:
Accidental is relative...for me they are accidental because they obviously never realized what they were up against and were incompetent to fix them!




Getting rid of subsidy is not the issue.... What is paramount is the colossal impact the removal will cause...if they had used the money they borrowed to either fix the moribund refineries or build new ones,we won't be making a debate about whether it should or should not be removed!



Then fix the refineries!
Is that rocket science?
Industry of growth will even disappear totally when the subsidy has been removed without building local refineries!
A case study is diesel that has been fully deregulated.... Its now hovering around 850-950 per litre from 250 and manufacturing firms are crying bitterly as they churn out humongous losses....please how does such hike in price translate into industrial growth?




Do you know how much has been spent on power generation by the FG on gencos despite being a privatized entity?
You cannot keep throwing money at problems and hope it disappears!
The present system of power generation, transmission and distribution through the national grid is insensitive and a joke...
The solution to the power problem is a total decentralization of the power system!
Remove power from the exclusive list and put into the concurrent list....in other words,let states be empowered or give licences to companies to generate,transmit and distribute power to their own citizens....




Once again no body is disputing the financial burden of subsidy... However,what will be the impact of the removal on the citizens?
What are the buffers?
Is it 5k per month?
Have they repaired or built any refinery?
Until the refineries are repaired or built,the subsidy stays!
We cannot keep suffering due to the ineptitude of a clueless administration that is bereft of ideas!
They had almost 8 years to fix or even repair the refineries but kept chasing shadows and even denied the existence of subsidy!
That is 'cluelessness' personified!
The Saudis just finished building their 3 mega refineries which they started 4 years ago and the FG is comically waiting for dangote to finish his instead of building or repairing theirs!
Chai....



Nice try @Backbencher
The subsidy stays until the refineries are fixed or new ones are built!
Its as simple as that!
The over 3 trillion that has been wasted on the power generation, why are we yet to hit even hit a 7000MW....so subsidy is the reason why they have been unable to attain the promised 10000MW?
Please hit me with another better excuse to exonerate this glorified ineptitude!




By then the price of PMS will spike to 3k per litre!
Who will be alive to witness that regime or even see the power to enjoy that's if its stable!
Whether you like it or not power will and can never be solved from the centre through national grid!
This is why we are witnessing a total black out across the national which is disgraceful!
Decentralize the gencos,transcos and discos and watch power become a thing of the past!
We cannot continue doing the same thing hoping to achieve a different result!



You are entitled to vote for any candidate of your choice!
However the message is simple!
Both the ruling and main opposition parties have failed woefully and there is a need to vote them out....whether its obi or someone else,I don't care but enough of those parties that keep recycling ancestors that should be attending to their grand kids and enjoying their pension or gratuity!

patrickcollins:
This very government scattered our economy, imaging dollar at #180 in 2015 to above #600 in 2022, Buhari why were u contesting before to be president as if u have the solution, president
u are now, see where u have taken us many steps backward.

buhari did not have any direct influence over dollar going from #180 to #600..
CBN adjusted the rate in response to the global oil market and how much forex they receive..oil cannot fall from $90 to $35 and u expect ur exchange rate to be the same...that is how it should be be... CBN is an independent body and dey do what is necessary irrespective of what the average citizen feels.

subsidywise18:
Has Buhari removed subsides? No. He chickened out. In 2015, when he had a golden opportunity, and last year.
Has he taken alternatives like increasing revenue from taxation (he removed Fowler because he failed in that regard, yet Fowler's replacement is no better)? No.
Has he improved our revenue from non oil sources? No
Has he ended subsides on power, so that the sector can make enough of a profit to pay for improvements, which would fire up our non oil sector? No.

Buhari has failed. And don't blame the people. The mark of a good leader is the courage to take unpopular but good decisions. Not waffling because 'poverty'.
..


Indeed.


Forget previous governments...what is Buhari doing , and what has he done in seven years?

Subsidy should have gone in 2015, and Buhari had no business opposing GEJ's subsidy removal in 2011. (and no, I am no GEJ fan).

we are still saying the samething...

if buhari removed subsidies in any of those so called golden opportunities ..it translate to nothing as there will still be naira devaluation due to the facts that we will still importing fuel... it also means dat the cost of PMS will still be above N400 today the same way it will rise to N400 if he decides to remove the subsides tomorrow.. so what golden opportunity is dat.. the only advantage is dat there will be nothing like fuel scarcity as marketers will freely be able to import it..

but is it worth it in the eye of nigerians after 2 global economic melt downs to now buy fuel at N400 just to ensure it availablility?

you should note dat removing subsidies isnt the final solutions..
there is still the forex part..if u remove the subsidies ..it doesnt change the fact dat over 30% of our reserves will be spent to import it..thereby weakening the naira value..and automatically increasing the cost to consumers...so bury any idea of a golden opportunity that buhari would have used to remove subsidies without nigeria withnessing a multi level of inflation...


buhari tenure had extremely volatile oil market prices...

Obj and yar adua were the two presidents who truly had the golden opportunity..they earned more foreign exhange and more revenue ..they could have simply privatilized the refineries or repaired them .once done..they fully save money from subsidies and most importantly save billion of dollars in foreign exchange...that will futher strengthen the naira and reduce inflation..

u cant end subsidies and keep importing fuel neigther can u do the opposite

they have to be done together ..
buhari knowing fully well dat u he cant build anything after oil prices were below $40..he just supported dangote with forex to build his own and borrowed loans to repair port harcourt refinery..which is ongoing...the next golden opportunity is when this two refineries are done and we can totally refine what we need...then we can end subidies and save forex..

we saved billions in forex can be used to offset the exchange rate ..make dollar cheaper and more available therefore cautioning inflations

nairalanders do not have a single clue about economics..
dat is why when gas turns 1k per kg ,..they blaim APC..like dey are daft to not undertstand what a deregulated market is..



if any of them read the article..it is clear that the marketers are saying the pump price should be raised as that is the obvious solution..
wont Nigerians futher pump Buhari...we simply do not understand the concept of our problems..we are in a difficult time...all the drastic measures should have been done 2 decades ago...but leaders like OBJ,yar adua and GEJ were drunk and sleeping cuz the oil was still sweet and there was no global pandemic or war to shake the global economy...

i want peter obi to be president..I want to see the juju he will use to reverse all this..

subsidywise18:
They do know economics.

The problem is this...removing subsidies means prices will go up...for everything...not just petrol. Food, goods, and other servicies...since we depend so much on petrol....

That even includes things like photocopying documents. Most photocopier people depend on petrol generators. Remove subsidy, and the prices of photocoyping rise

It would hurt a lot before we see the benefits. (It took some 5-6 years after GSM was introduced before we saw SIM cards go below N1000 per card., and cheap rates for calling ).

Personally, I don't like making the argument for subsidy removal. I effing hate it. I personally wish we had a way to subsidsie fuel to something like N50 for most people, N10 for the really poor. But it is going to cost money...that's the painful part.

subsidywise18:
That still does not asnwer the question as to how Obi would handle the matter (and yes, Buhari has clearly and totally failed in his handling of the matter, that is clear).

would u blaim buhari as u suggested he failed...

leave grammar..the end point is to remove subsidies..
would u still say buhari did a good job if removed subsidies and allow marketers make profit..bearing in mind the repercussions?
..
because what ever step any leader takes...if subsidy remains it will yield no eternal positive result..

atleast the port harcourt refinery is under complete rehabilitation...the question is what did previous years government do while this refineries were dead

subsidywise18:
That is true, and it is a big problem.



That is not possible because fuel costs above N300 in all our neighbours and 400 naira further afield. Here it costs N165. This ensures that there would be smuggling well well

Only way to block the leakage is

1. Close the borders (we did that, and it damaged our economy....throwing out baby with bathwater, and then came covid)

2.Build a border wall that would be manned by a million soldiers, and would be equipped with automatic SMG, that would be programmed to fire if a tanker passes through. It would be surrounded by a moat filled with spikes and mines.

3.Allow marketers set the price, which in return for high prices, would make smuggling unprofitable....since the price is now the same as the rest of West Africa






It won't stop smuggling (see above.) Fuel still costs above N300 in Benin, Tchad, Niger, Cameroon, and Mali, Ghana, etc. Do the math.

.


It still leaves government with trillions of naira to pay for subsides. And raises very little money. Remember cost of refining one liter of fuel has risen because of rising crude oil prices.



Especially solar energy. We have sun in abundance. Got to use it.



1.When the useless individuals suggest removal of subsides, Nigerians say no. So we keep on throwing away trillions that could have been used for other things...refineries included, on subsides so that NNPC does not collapse selling fuel that should cost N400 and above at N165 and below to makreteers.

2.At the end, we have to remove subsidy.


Most Nigerians admire Venezuela. They subsidsie fuel. Fuel costs N40 there. They also, as a result, have lost a lot of refining capacity, and lose 18 billion dollars yearly to smuggling. (Fuel costs above N400 in all their neighbours. Smuglging results)

Iran too has subsides, and even managed to have working refineries. And their debt makes ours look like child's play.

most nairalanders do not know anything about economics..they think buhari has anything to do with all our woos...

if i am to blaim anyone for the shit we are in ..it will be obasanjo...

obasanjo should have quickly sold the Port harcourt refinery to dangote when he wanred to buy...and not slow down the process for the incompetent fool called yar adua to terminate it..
if dangote bought that refinery..the man would completed repairs and expanded it long before buhari came into power and we wont be importing petrol today...they fustrated his effort dat he had to rethink of another way..
helped..today the country is at his mercy to finish his refinery
when he brought the idea of building a refinery..some state governors delayed and fustrated him by not giving him lands...until lagos state
everything boils down to the fact we cant refine crude..
until dangote complete his refinery and NNPC complete the rehabilation process at port harcourt refinery...there is absolutely nothing even peter obi can do