₦airaland Forum

I only love english names for both guys and ladies. For guys its only one name i love: DICKSON.

For the ladies, I love the name: VIRGINIA

ortopazz:
Frank EDOHO, dat guy dresses MONEY,
UTI NWACHUKWU,

JUSTIYN TIMBERLAKE

ACE HOOD(2GUD)

T.I

TerRENCE OF 106 AND PArk.

LAW STUDNTZ

So forking true. But i also disqualified him for the same reason i disqualified tuface. The guy too dey fork. With that him range rover. Matter of fact, he is my inspiration for saving up so hard with the hope that one day, i will save enough to buy a range.

Then all those VI chics go know say Fork Addict just buy range.

FOREIGN:
1. Mr Bentley. Host of the reality show 'From gees to gents'
2. Nick Cannon. Host of the reality show 'America's got talent'

NAIJA:
1. Pastor Chris Oyakhilome
2. Dare Art Alade

[s]I for add Tuface but the guy too dey fork pass me so he's herby disqualified[/s]

Agybabe:
unacceptable by me. Would not be appreciated. Some Ninja guys sef too like awoof. Prove to be a big guy and call in the day instead of saving #100 for extra cool.

Why is midnight calls unacceptable by you? afterall that is the main reason why network providers approve that facility. Besides, calling during the day doesnt qualify one as a big boy by any standard.

@ Ovamboland.

I may be wrong and i stand corrected just in case. In my limited understanding of this topic, i assume fuel subsidy removal= FULL DEREGULATION of all the costs attached to drilling, refining, distribution and marketing of petroleum and petroleum products thereby making it commercially viable for private investors (local and international) to come invest in the industry. The above definition also presupposes that government WILL NOT fix costs in any aspect of endeavour in the oil industry either by fiat or otherwise but will let market forces dictate same. So if that be the case i herby state that crude oil will be sold to refineries at prevailing world market price at any point in time and not the ridiculous $5 per barrel that you stated earlier.

Here we go again. Its always about naija babes on nairaland. But has anyone ever asked himself why naija chics do not complain about naija guys? Its because if they got anything to say at all it will be about our love for forking or that we are generally broke. The first allegation can not be regarded as one cos its a well known fact which aint common to naija guys only. It applies to men all over the world. As for the second allegation, we cann always use that as a counter to butress our point on how materialistic naija chics are.

I for one try as much as i can to avoid coming on here to bash naija chics but truth be told, naija chics too dey fork up. Kai!

As someone with field experience, i meet chics almost all the time with the intention of getting to screw them afterward. So i met one a few months ago. I took her out to an eatery on one occassion. Fork up number one was, until that time that i took her out, we were just friends. We never held hands, no touching each other, no nothing. But when we emerged from the eatery, she was already holding me by the waist.

After the outing, i asked whether she had a sweet tooth cos i intended buying her biscuits whenever i visited until whenever i forked her then she would lose the privilege, She confirmed that she had a sweet tooth and then her fork up number 2 occured shortly afterward. I visited her as usual with the pasteries and we smooched in the car under the cover of darkness. After the whole smoochy smoochy i went to drop her off. Can you all imagine that this stooopid, hungry beach forgot her purse which had some important documents in my car but she didnt forget the pasteries, To now add salt to injury, i didnt know that she left her purse in my car only for my steady chic to discover the purse in my car and then world war 3 broke out. I was so forking mad.

So you see naija chics no just dey try at all. Wetin my eye don see, nairaland no fit contain am.

[quote author=Risky_mallam link=topic=802279.msg9562132#msg9562132 date=1321364793]Or you can as well give her your card and tell her to "give you a call sometime" [/quote]Hell yeah! That is the way to go. Particularly if you work for any of the oil producing companies. In fact, the chic will call you seconds after your departure and will keep calling you every hour afterward. Dem full PH and lag na.

@ OP.
I just wanna ask if midnight calls is acceptable? Because that's what i like. you can talk at lenght and at minimum cost.

lindabon:
Excited - Maybe
Entused - Maybe

Dating wise; I don't care really. If he can learn fast, then problem solved. But if he still sucks after all set and done, well i might as well put a bullet through my brain.
B[b]ut for marriage, I can't go to the altar with a guy that I'm not sure of his capabilities, so i'll pass.  /b]\

in other words, you can go to the altar with me

[quote author=kj_hova link=topic=789991.msg9463970#msg9463970 date=1320223581]@ GenBuhari, your position is understandable. However it could do the man whose name you adopted a lot more good if you deploy sound argument and real stats in place of emotions. Kindly see the sense in my advice and don't take this as an attack in need of response.[/quote]Dont mind both of them. The real gen Buhari and the fake. As for the real general, all he made was a statement. No analysis, no figures, no stats to back up his claim and he expects someone like me, as educated as i am to just accept whatever he says? What then differentiates me from an illiterate? The question here is, if it is possible to refine crude oil and incure all the associated costs in full, add your margin, sell at N65 per litre and still make a profit. Not whether some corrupt politicains are enbezzelling the fuel subsidy. You can only agrgue for or against this topic with facts and not by using broad, ambiguous statements.

As for the fake general buhari, if i may ask you, what is your level of education? Pls take no offense. If its SSCE, then i can understand. But if you hold a minimum of bachelor's degree, then i SMH for you.

[quote author=kj_hova link=topic=789991.msg9463970#msg9463970 date=1320223581]@ Seun's point of the population diff btw Nigeria & say S/Arabia, UAE & Libya is on point. Libya for e.g. has almost the same quantum of production as Nigeria (roughly 2mbpd of crude) and pop of 6million people compared to Nigeria's 167million (as of this week's NPC update). Warri Refinery alone, at full capacity, can serve that entire nation![/quote]Thanks guy.

Imagine someone boldly saying that population isn't a factor? imagine kuwait with a daily production capacity of roughly the same amount as nigeria's but with about 4 million people max. Their government can of course subsidise not only their fuel but every other primary aspect of their lives till thy kingdom come. I dont even know of any state in naija with a population of less than 4 million. And you dare say that population isnt a factor Na wa for some people sha

[quote author=kj_hova link=topic=789991.msg9463970#msg9463970 date=1320223581]Again guys, don't mix up your maths in this industry. 1 barrel of crude is not equal to 1 barrel of petrol! At best, a barrel of Forcados or Bonny crude can only yield 25% PMS in any of our refineries. That's a little over 30 litres of PMS from each barrel of crude.[/quote]This only worsens the issue. By Using the assumption that 159 litres of crude yields 159 litres of petrol, not adding the cost of refining, distribution and marketing costs, tax, margin, etc and one still could not arrive at a pump price of less than N65 per liter. Now imagine if one does the same analysis with the assumption that 159 litres of crude oil yields only 30 liters of petrol, now add the refinning cost, distribution and marketing cost, tax and margin. Is the final result (which is the pump price pf petrol) not going to be way higher than N65?

Knight1:
i don't buy into addict's calculation
REASON: according to the indices he used in arriving at those figures, all countries in the world should sell at above N65 or it's equivalent because those indices are common to all the countries.
yet fuel is faaaaaaaaaaaaaaaaaaaaaaaaaaaaar less than N65 or it's equivalent in countries such as venezuela et al. are you saying those countries are also subsidising that much?

Yes. That is what i am saying. Go figure!

Also note that many of those countries that subsidise do not have a population as large as ours. As Kjhova has rightly pointed out, population is a factor to reckon with when discussing issues like these.

GenBuhari:
@kj_hova
Most of the countries you are comparing their fuel prices with Nigeria are not net exporters of oil This means that our fuel prices should be approx only about 20% of the price of those countries that are non-exporters of oil.
You need to compare like with like , if you want to do a meaningful analysis.

Even so Ghana and Egypt have lower fuel prices than Nigeria.

Egypt, i can tell you for sure subsidises their fuel. I cant tell about Ghana. But then oil discovery in Ghana is a recent occurrence and i dont expect their government to immediately deregulate the sector. They will let the masses enjot their new found wealth for a while and this may mean many many years to come. So my guess is Ghana also subsidises their fuel.

GenBuhari:
@fork adict
What qualifies Buhari as an expert?

Buhari has been a:

Head of State
Governor of North East Region of Nigeria
Petroleum Minister
Chairman of Nigerian National Petroleum Corporation
Chairman of the now defunct Petroleum Trust Fund

Now tell me a greater expert of the Nigerian Oil Industry than Buhari.

I knew you were going to come up with this. FYI, Buhari acted in all those positions you mentioned in supervisory capacity guy. Dont make me laugh. When you act in those positions, all you do is oversee people's activities and anyone with lots of common sense and also with a flair for making things run the way they should will perform quite well in all those positions also, and that doesnt make them experts. To further burtress my claim, Bola Ige was minister of Power in Obasanjo's first democratic tenure. Will you call him an expert?Buhari might be considered an expert in warfare, or security issues. I wont contest that. But an expert in oil the oil industry?

^^^^ What even qualifies General Buhari as an epert in the oil industry if i may ask you?

jp philips:
No need to call anyone we still operate the process flow column of PRCN, guess i should call my cell, nobody is ruling out subsidy totally refer to my post above to see how

Which has been my point from my very first post. The subsidy may not be as much as the government claims at the moment. But there will be a subsidy still.

GenBuhari:
Experts in Nigerian oil industry have stated that it cost Nigeria less than N65/litre to produce fuel. Which means that government is already making profit from fuel, the idea that they are removing some sort od subsidy is pure fiction.

These experts are:

General Buhari

Tam David West.


Who shall I believe? some self proclaimed know-it-all on Nairaland or the above 2 experts who know the Nigerian oil industry like the back of their hand?

So why is government claiming that it is removing a subsidy that does not exist?


I believe it is because they do not want to have to account to us for how they hare going to spend the revenue
they raise from the price increases.

Buhari says that we are going to be subsidizing the lifestyles of the corrupt elite -and the whole scam is sheer corruption!

My preyers are with all of you!

God bless us.

Fine. Of course you are at liberty to beleive whoever you choose to. But dont accept things just because some experts somewhere say so. That is what a soundly educated mind should and will never do. have those experts you mentioned given you figures anywhere in any medium that back up their claims? If so please share such analysis with us. I for one will be so happy to see the analysis. But i look you in the face and tell you that YOU WILL NOT BE ABLE TO GET BACK TO US ON THIS.

[quote author=kj_hova link=topic=789991.msg9447759#msg9447759 date=1320002763]It is true that N65/L PMS pump price in Nigeria is joint 14th cheapest in the world along with Algeria. However, it is still more expensive here in comparism to Iran, Venezuela & Saudi Arabia. These countries with considerably higher GDP per capita to Nigeria also heavily subsidize the product price. Again a difference btw them and us is that indigenous participation in production/refining value chain is more entrenched than in Nigeria. For shorts, they are better positioned to withstand the pressures of subsidy than we are. All over the world, from NWE to NEA to GME, the average ex-refinery price of PMS is between N106.26 to N117.45 per litre. Nigeria cannot refine PMS at a cost of less than N65/L even if she wanted to. Considering this fact and the realization that the economy will soon atrophy if we go on this way, I support the complete liberalization of the sector. But do I support the removal of subsidy? Not at all! Every government since the days of the Pharaohs subsidize one thing or the other to assist the citizens. Therefore my proposal is that we transfer the exact amount FGN has calculated as fuel subsidy costs for this year, N1Trillion plus, from PMS importation to the production of grains, poultry, food etc in Nigeria. A portion should go also to subsidizing the rising school fees in the country. It should also finance R& programs in our tertiary institution. Anything we decide, it must never go back into the general Federations Account only to be shared and looted outright by this same cabal we are being wary of.[/quote]Gos bless you on the emboldened.

@ OP, Nice post.

@ Esss, Nice counter.

The guy na bast.ard motherforker. Did that happen after the refreshments or before? If after, well i might, just might pardon him. Because i go don chop belle full. But if na before, i go beat the guy to pieces. Imagine making me forgo other important things that need my attention, coming down to your wedding reception, not entertaining me and then you serve me this bullsheet?

[quote author=Shy-One link=topic=788060.msg9431966#msg9431966 date=1319743659]Had you seen his ashy "soldier" - standing alone - you would have been embarrassed.

Yes - I have many, many times helped the poor - worked in soup kitchens, given money away - in the hundreds that now mount to thousands of dollars and I will be in Nigeria soon - doing the same there for people in that country as well

I love helping people - I haven't experienced a love and a sensation that is any greater than helping another human being. And that is fact - buddy[/quote]Are you very sure of the emboldened Shy? Are you sure? The feeling you experience by helping another human being is greater than making love to a hot dude you really have deep feelings for?

jp philips:
YES, with more refineries and right operating conditions at worst if the cost of refining it soars the sale of distillates can be used to subsidize the more demanded ones, with local refining we will look beyond the price and profit from not just petrol but other distillates put together, yes again the profit will be higher

You are joking right? If you are then I'm cool with it but if not then i cant help you. I have done all i think possible. Another way out for you is if you know any informed staff of Kaduna refining and petrochemical company or warri refining and petrochemical company or Portharcourt refinery. call them up and ask them maybe they will do a better job than i have in trying to make you understand that even if you have 1000 refineries, and as long as you sell a litre of petrolfor N65, then the government will continue to subsidise. Now the subsidy may not be as much as the figure the government quotes right now but subsidise, the government must.

Moral of my story, you cant refine crude oil, incure the [b]FULL costs associated therewith, sell at N65/litre and still make a profit.[/b]

jp philips:
please read this extract from my post again;

from the above i said "AVERAGE" of 51%, the NNPC JV with SPDC is not the same as that of chevron, Exxon etc, using 60:40 as a sacrosanct ratio is unsafe that is why i used an average if you put all the JV's together

With Shell, the ratio is 55%:45% in favor of FG. With Exxon, it is 60%:40%, with Total it is 60% to 40% with Chevron, it is 60%:40% with Agip, it is 60%:40% all in favor of FG. The average of that isn't 51% in FG's favor. It is much more like 60%. That is arithmetic not even mathematics.

jp philips:
you made a mistake when you quantified the market price of crude with the price in Nigeria, it is far less. if crude gets to the international market it sells for 96usd but the cost of producing 1bbl of crude in Nigeria is far less than 96usd so it is obnoxious for you to be quantifying the price of crude in Nigeria, produced in Nigeria at 96usd per bbl

i can modify your analysis thus;

1bbl = 159l
1bbl outside naija = 96usd (ave)
1bbl inside naija (cost of production, labour etc) = less than 96usd, in other words, the crude in our refineries are less than 96usd in price do u get? now use this figure to run your analysis again, u will see that the pump price will be less than N65.
[/color][/b]

Now to the big one. Please be humble enough to go back to my first post on this thread. In my attempt to prove that the pump price of refined petrol is higher than the N65 we buy at right now, i didnt use the price of crude at the international market in my analysis. I used 65USD and not 96USD that you said i used. It really pays to calm down first and get one's facts right before attempting to critique one's opinion.

With that said, i feel using 65USD as against 96USD per barrel of crude oil in my analysis is enough compensation to us for producing the crude oil. Further more, i didn't factor in energy, remuneration, tax , Distribution and marketing costs and profit into the analysis. By the time i factor in all these costs, do you still think that we will arrive at a pump price of N65 per litre

jp philips:
I think we are on the same page here, on the bolded, you are an exceptional Nigerian keep it up

One does not need to be an exceptional nigerian to appreciate the fact that without fighting corruption, Nigeria can never progress as a nation. It is common sense. But do you really believe that there are people who believe that with corruption still prevalent in the system we can progress as a nation? If you know any such person, (if its a lady)please send them to me. i will fork some sense into their thick skulls. If the person is a guy, deal with the person yourself.

Speaking reallistically, naija is just not yet mature for deregulation. Because in the strict sense of the word, pump prices of petrol should vary in the same proportion as the price of crude oil in the world market. As the price of crude oil goes up especially in conflict times involving oil exporting nations then the price of petrol should also go up and when the price of crude oil comes down, the pump price of petrol should also come down. But we all know that in naija it is rare for prices of commodities after going up to come down.

ayusco:
i'm no oil expert but from the reasons given by FG for 'subsidy' removal i can't just fail to come to the conclusion that they are making the poor masses of nigeria pay for their inefficiencies. light(though improved) has not gotten to a stage where we do not need generators which means paying more to fuel them. i have this question if our refinaries are working optimally can they meet our daily demand? cus i'v heard there will still be a huge shortfall of btw 50-60% hence the need to import

No they can not. All our refineries put together at best can only handle 400,000 barrels of crude oil daily. Multiply this figure by 0.4 which is the portion of petrol contained in crude. This gives about 160,000 barrels of petrol. 1 barrel= 159 litres. So put together all our refineries when in their best operating conditions can only provide us with about 25 million litres of petrol/day. Our requirement is 32 million litres/day minimum.

Note that this is the best case scenario. Speaking realistically all our refineries put together handle far less that 400,000 barrels/day. The balance will have to be imported.

jp philips:
@ fork addict

Im sorry to inform you that your analysis above lacks merit,

I understand you erroneously think that local refining will translate to increase in pump price, it is not completely true for the following reasons:

Nigerian govt is in joint venture with all oil producing companies in other words, Nigerian Govt is entitled to an average of 51% of the 2.5million barells produced daily which amounts to 1.275m barells daily

The point other posters are making is that Nigeria can afford to refine a part of that locally and sell it as by products not necessarily as crude at 96usd per barell, they can get petrol,diesel,wax,ethanol,polythene,tar,bitumen etc which in turn has real market value that will still be profitable. Dont forget other petrochemicals that come with crude refining.

Secondly, you inferred that 1bbl of crude equals 1bbl of petrol thereby adding the cost of refining 1bbl directly to the cost of 1bbl of crude, that is wrong.

1bbl of crude gives about 30% of petrol and other derivatives depending on the catalyst,additives and other refining conditions. These derivatives have great market value that the govt can export to make more than that 96usd crude price per barell, dont forget benzene,bitumen and imidazole which are great raw materials for foreign manufacturers.

That was the strategy buhari used and pump price remained low throughout his regime.

The truth is that jonathan thought he can play around corruption to make Nigeria great!!! What a misconception

I urge every Nigerian to stand up and fight this evil called PDP they are poised to destroy us. Enlighten the law enforcement agents because that is their only strength

Even if the govt should subsidize local production,it is not a bad idea because it will encourage the local refineries to expand their refining capacity creating more jobs and encourage export.

Imagine a situation where 7 refineries get 200billion as subsidy grant?

I wept the day Buhari lost that election but i am glad that Nigerians have woken up to realise that the biggest problem bedevilling us is CORRUPTION and jonathan is not the Man to fight it

Jonathan must leave aso rock at all cost, for every blood shed in the struggle will amount to his own blood and his cronies.

If i get you right, are you saying that it is possible to refine crude oil into petrol and other distillates, and sell petrol at N65/litre and still make profit? This question requires a yes or no answer and i need your answer.

Next, you got the joint venture ratio wrong. It is roughly 60%:40% in favor of the Federal government.

Third, you posited that from 1 barrel of crude oil, we will get at best 30% of petrol. My initial analysis assumed that 159 litres of crude equals 159 litres of petrol and yet i arrived at a pump price that was higher than the N65/litre that we buy at presently. If i were to do the analysis again with the assumption that 159 litres of petrol equals 73 litres of petrol, will our final pump price not be approaching N200/litre? Please remember other factors such as energy, remuneration, tax and profit margin that will come into the euqtion.

Fourth, i stated in my initial post that before deregulation and the benefits therefrom can be fully achieved, corruption MUST be fought to a standstill and we both know that that is a near impossible feat to achieve. Not with the present crop of possessed, blood sucking, greedy kleptomaniacs with insatiable appetites. Deregulation without fighting corruptiong is only making life harsher and more unbearable for the average nigerian.

FYI, i voted for Buhari in the last election. Not because if elected he would give us power, good roads, nice hospitals, standard education? NO. I voted  for him because i knew he would fight corruption head on. Even if everything else comes to a standstll and we record tremendous wins in the fight against corruption, guy I'm cool with that. We can not and we will never progress as a nation unless we fight corruption. The earlier nigerians got that the better for us all.

[quote author=Shy-One link=topic=788060.msg9430399#msg9430399 date=1319730115]GOOD - he needs wakeup call - I am in the Family Section reading about a woman who's little boy just died from lack of food - no money, etc - and this poster is on NL - taking pictures of himself unclad with an expensive watch a comfortable home - he could have spent his time donating blood, helping the poor - he could have done much more with his life to help mankind

NOoooo

Instead he is traumatizing us women on NL - and embarrassing his fellow men.

smh - gosh[/quote]FYI, I am not embarrassed. No homo.

Besides, have you done any of those things you advise aso to do?

@ KJ Hova, believe me, i am always critical of people's work and i simply find yours insightful and excellent. I guess you work in the downstream sector of the oil industry.

In my humble attempt to attack this issue of fuel subsidy. I must say that there are 2 scools of thought: One, those who argue against its removal subjectively. Their arguement are based on both sentiments and facts. They argue that time and again, the government has partially deregulated the downstream sector and they have nothing concrete to show to Nigerians as the dividends of the partial de-regulation. At least we were once buying petrol at twenty something naira per litre. The price was increased to sixty five naira per litre which we buy at presently. This automatically should translate to more money for the government to spend on infrastructure e.g roads, hospitals, power, housing, education etc but sadly all and i mean all these freed up monies have only found their ways into the pockets of a few greedy, possessed and insatiable kleptomaniacs. So since we have travelled this same routes many times in the past with nothing to show as benefits of partial deregulation, why must we continue to travel the same forking route?

However, any amount the government says they spend on subsidy ia a grossly overstated figure. To get the real figure, multiply the government's figures by 0.5. The balance ends up in some people's pockets. If the government is really serious in freeing up cash, let them block the loopholes in the fuel importation, sales and distribution process. Permit me to say that the subsidy is the only way and the only thing that Nigerians benefit from government.


Now to facts and Figures:

Simple business equation states that for you to remain in business, your

COST OF FINISHED GOODS= COST OF RAW MATERIALS+ CONVERSION COST (e.g labour, energy) + DISTRIBUTION AND MARKETING COST + TAX+ YOUR PROFIT

Please do not say that if we want to refine crude oil for our own use then we get it for free. That is not possible. Crude oil will definitely come at a price. It may be cheaper than what obtains in the world market, but it must definitely come at a price.

Current price of crude oil per barrel= $90 USD. Let us assume that as a producing nation, we buy at $65 per barrel. A barrel equals 159 litres. This means that our cost of crude oil per litre in naira =(65X160)/159= N65 per litre (assuming that $1 USD = N160)

So our cost of raw material alone is already N65 per liter. Which also douubles as the cost of finished goods. Speaking reallistically by the time we add the cost of energy to refine, cost of remuneration of the workers, distribution and marketing cost, tax and profit, we will have as our cost of finished goods which is petrol, a price that should be  way higher than N65/litre.

So the solution is not just to build more refineries as this analysis has shown. If the government builds more refineries, they will still continue to subsidise the cost of refinning. The only difference is that we may not be importing then. The ultimate solution therfore  is to first eliminate corruption in the system and we all know that this  is a near impossible feat. Second, we can deregulate fully. If we deregulate fully, private investors will come and build refineries themselves and refine crude for our consumption but then the pump price of petrol will be more than N65/litre. It will hover between N120-N150 naira/litre