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Jidewin's Posts

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FamilyRe: Men - Have You Ever Tried To Change Your Child's Diaper by jidewin(m): 12:09pm On Feb 07, 2012
stepo707:
Just curious oh.Please dont abuse me.Whats the difference between pampers and diapers.Am gonna be a daddy soon
Hey,no one will abuse you for asking a simple direct question. Except the UNLEARNED.
Anyway,pampers is the trade name, a brand of product (diaper) I think its by procter and gamble.
Diaper (Nappy)is the protective cover for babies(and also the aged)bosom to collect their waste (poo and wee),coveniently disposable and hygienically fitted for wears.
FamilyRe: Men - Have You Ever Tried To Change Your Child's Diaper by jidewin(m): 9:58am On Feb 07, 2012
Well as for me,I guess I'm an early starter.3 kids and I changed their diaper whenever its soiled and most especially when momma aint home or tired or sometime plain lazy.
(don't most women just love that)
It kinda make you get closer to your kids and observe them too,cos from their poo you can detect when they are ill or growing teeth as a result of running body temperature.
Watch your wife how she bathes,brushes,cleans their teeth and body (so u don't flush water into their ears as this also encourages infection in the inner ear and body temperature rises).
Bathing your kid and seeing him or she laughs could be thrilling.
Happy fatherhood.
Christianity EtcRe: Adeboye Declares ‘war’ On Boko Haram by jidewin(m): 2:46pm On Feb 05, 2012
swaggrbabe:
ii get ur time?. empty vessel makes they loudest noise.its just wat must come to past to u and ur boko haram members
Clap clap clap,round of applause for you from me.
Christianity EtcRe: Adeboye Declares ‘war’ On Boko Haram by jidewin(m): 2:43pm On Feb 05, 2012
enitan2002:
Cant this man keep shut for once. Where was his voice during fuel subsidy saga? I hate this set of people.
This statement supposedly came forth from a 'YORUBA LADY'? Shame shame.
PoliticsRe: M E N D Strikes: Blow Up Agip Facility In Bayelsa On Saturday 4th February by jidewin(m): 2:42pm On Feb 05, 2012
Bunch of area boys seeking relevance.real MEND hits d main main.these ones are political foot soldiers.ignore them,simple.
PoliticsRe: How Sss Trailed Boko Haram’s Spokesman To Kaduna (the Inside Story) by jidewin(m): 2:22pm On Feb 05, 2012
Andy,the SSS have to live up to expectation and as such would to any lenght to prove their worth and remain under the FG payroll or found themselves in the labour market.
As such,if they 'reveal' brief detail of the capture of abu qaqa,who denied in the media he is not the one,trust that there are several other means of catching the man,which would have been bloodier or messier due to many casualties (Nigerian Police style).
I for one believe this SSS report.
Welldone guys.
RomanceRe: 23 Years Old Nigeria Man, Marries 68 Years Old Greek Wife by jidewin(m): 2:59pm On Feb 04, 2012
[quote author=Mynd_44 link=topic=862327.msg10119764#msg10119764 date=1328362427]So the relationship is a symbiotic one[/quote]Abi o my kontryman,of what use is citizenship without moni?na so we dey call money for delta.
RomanceRe: 23 Years Old Nigeria Man, Marries 68 Years Old Greek Wife by jidewin(m): 2:28pm On Feb 04, 2012
Good Girl:
The guy could be 23, don't let the big frame f[i]o[/i]ol you.

I gotta hand it to Nigerian men though. They know which prey makes easy target. An enormous, very unattractive, financially stable white female who probably has very low self-esteem is normally their easiest catch. She would be lonely; living in a mansion with no companion, then here comes this young, athletic, energetic, wedge-shaped young man who lies to her that that she has beautiful eyes and that he loves her. I know. I know. It's a means of survival which Nigerian men have used for decades, nothing new, right?

Tomorrow, you'll see a new thread from this same Greek woman. Not another one, this one (the one in the picture) lamenting about how a certain Nigerian man used her to acquire "papers" - not that the Greek economy is worth anything to write home about but that's a story for another day.

Now, the question that begs to be asked is WHY DO THESE WOMEN BELIEVE ANYTHING A NIGERIAN MAN TELLS THEM? Personally, my "believe button", centered on my left brain hemisphere deactivates itself any time a Nigerian man talks to me. I know for sure he's up to something. Lol.  grin
Hmm and what if,as the greece economy is in shambles,the woman need  the CASH while he needs THE PAPERS.both could be in mutual agreement for her to have come down to Naija.
Christianity EtcRe: Giving My Firstfruit This Sunday - So Exciting! by jidewin(m): 2:07pm On Feb 04, 2012
Poster just needed your attention as he MOCKINGLY made this post.live him alone.He is not paying anything.
Christianity EtcRe: We Will Defend Ourselves, Churches, Homes Against Boko Haram - Adeboye by jidewin(m): 4:39pm On Jan 31, 2012
AT LAST.Baba has broken silence.GOD KNOWS I've BEEN WAITING FOR THIS ALL ALONG.
Baba, release US make cause mayhem small sir,make we show dem boko bastards no be only dem fit PACK ACTION.
All this be gentle,no fight,no retaliate na MINUS on our part.
The jews of old defended their people and place of worship with all they had. Baba won't be disappointed.
PoliticsRe: Sahara Reporters To Abati: You Lied by jidewin(m): 8:47am On Jan 30, 2012
And jona DEMANDED WE SHOULD make
SACRIFICES,while he and his wife live on in
LUXURY UNCHECKED.
When will there ever be Leadership by example in
Nigeria?
PoliticsRe: Reuben Abati's Response To Patience Jonathan AU Delegates Story by jidewin(m): 8:46am On Jan 30, 2012
And jona DEMANDED WE SHOULD make SACRIFICES,while he and his wife live on in LUXURY UNCHECKED.
When will there ever be Leadership by example in Nigeria?
PoliticsRe: Northern Governors Declare War On Boko Haram by jidewin(m): 12:04am On Jan 29, 2012
And u think they're sincere? lailai. they only said what Jona wanted to hear finish.
Fight boko boys?say wetin happen?wey be say na dem dem dey sponsor dem.NIGERIANS,YOU BETTER STOP BELIEVING THESE LOTS IN GOVT.
TravelRe: Fake Marriages In Ireland: Nigerians Involvement by jidewin(m): 11:59pm On Jan 28, 2012
ogugua1:
But really this sham marriages aint no big deal to be honest cos not only Nigerians do it,  and i don"t blame them one bit . Now as much as we all want to claim that we holly here on the travel land section, do u mean to tell me all ur relatives living in Europe or US were born there. men some of them got into this fake marraige parole so lets stop making a big issh abt it but bringing ladies from Latvia and forcing them to marry that one i no support oo. But to my Naija folks in the UK and all over the world do wat u gotta to do to get ur papers. Some of us when we were leaving naija we lied on our application just to get the visa , me i lie well well  and till today i still deh lie deh go lol
Ogu, abeg u wan take laff wound me o, Naija Pure Bred! Tehehehehehe
Foreign AffairsRe: Thousands In Senegal Protest As Court Grant Wade Right To Seek 3rd Term by jidewin(m): 11:45pm On Jan 28, 2012
Major Problem with africa and her leader is GREED!!!welcome senegalese, Welcome to da program, after occupy Nigeria,it is occupy SENEGAL.
FamilyRe: Men Who Suffer In Silence by jidewin(m): 7:16am On Jan 27, 2012
Where are the ladies on this thread to answer rimbaldi as this is a true life scenario.
Guy,quietly change your sim line(s) and RELOCATE to a diffferent axis of lagos.she is not a woman,she is a DEMON in a woman.
PoliticsRe: In Kano, Speaker Tambuwal Requests Amnesty For Boko Haram! by jidewin(m): 12:15pm On Jan 26, 2012
[quote author=Negro_Ntns link=topic=855355.msg10049673#msg10049673 date=1327552819]If you throw bomb in any domain or territory of Nigeria for whatever political, religious or social reasons you are terrorist.  MEND is a terrorist.  Boko is a terrorist.  MASSOB is a terrorist.[/quote]Em abeg don't forget to add,NIGERIAN POLICE FORCE is a TERRORIST too. Oya ride on
CrimeRe: Mob Lynches Cop For Killing Driver Over Bribe by jidewin(m): 11:25am On Jan 26, 2012
Its Nigerian policemen that would kill an UNARMED citizen,and come back to label him or her armed robber.its Nigerian policemen that would kill an unarmed civilian okada passenger with hot anger and hatred,remove the bible in his hands and replace it with scissors,and finally label the deceased an rea boy,even when he was shot dead right in the presence of his mother.
If SOUTHERNERS and WESTERNERS would be bold enuff to do what our NORTHERN countrymen does to policemen who kills unnecessarily, then there would GREAT reduction of extra judicial killings by armed security agents.
They know the law and they bend the law in order to get away with crimes they,the law enforcement agents commits and carry on with impunity.
These are among the MAJOR issues the new IGP must look into,while he should also disband all the so called checking points all over the south west,especially from oyo,osun,ondo to edo state. And I want to believe most of the bad egges from lagos were the ones redeployed to those rural areas and highways in those states,cos they are just outright satanic in their modus operandi.
You can hardly hear reports that policemen kill someone inside his cab or commercial bus,or on okada in the north. Cos they know the consequence under 1 hour.
All what the men in black does is extort or be harrasred with trumped up charges or even outright shooting.
FamilyRe: My Fiancee Had An Affair With Her Business Partner by jidewin(m): 12:10pm On Jan 25, 2012
poster_ol boy u funny no be small  grin wetin go make guy like u settle with babe wey u know say she get history with one "rich" guy who  still sees her, Ol boy,your babe is a sex partner to rich guy.Admit it or not.And anytime the man feels like remembering what she looks like when she is naked,all it takes is to summon her on phone and meet her at one cosy hotel/guest house, in AJAH or ABUJA or even Obudu cattle ranch.,, far away from prying eyes and that includes you.
Your babe told you she have no feelings for the man but dem still dey see STEADY heheheheheh,no doubt,but when it comes to "CASH" most porn actress and actors don't have feelings for one another,but they F, k the hell out of one another , for DA PAY.

You got two options, enjoy her "SPENDINGS"for you while it last and you turn a blind eye to her giving "her benficiary QUALITY TIME with her honey pot" afterall,you are benefiting too from the proceed,subsidy or no subsidy.
Option 2 , WALK AWAY and wish her well, As long as she is still in contact with the MONEY BAG, he will keep f, king her anytime he wants.
MONEY TALKS BULLSHIT WALKS.
Dpont mind those talking about "trust" o.
PoliticsRe: Boko Haram Threatens Nlc Over N97 Pump Price by jidewin(m): 11:59am On Jan 25, 2012
Don't mind those idiots and their sponsors.They are only trying to work up on the Nigerian psychologies to see reasons with their cause since when Nigerians have decided to wage war against boko boys.That definitely falls short of what MEND, EGBESU and the rest did,who eventually got public support.
If boko boys had been targeting ONLY government (senior)officials,senators and fuel marketers (CABALs feeding fat on subsidy),by now Nigerians will be CLAPPING for them and hailing SAI BABA, SAI BOKO HARAM.In fact some nigerian artiste might rushed to studio and waxed single tracks,addressing them as MESSIAHS.But alas,they've got it wrong and will never be in peace with Nigerians.
They should go and eat RAW poo.
Christianity EtcRe: CHECK THIS SPACE FOR UPDATED INFORMATION ON THIS POST by jidewin(m): 9:18pm On Jan 21, 2012
Come poster,if u hate pastor adeboye,just come out and plainly say so.wetin d man do u wey hate am so much sef?come guy,watch it.
HealthRe: 10 Surprising Health Benefits Of Beer by jidewin(op): 11:30pm On Jan 20, 2012
agiboma:
Beer especially dark beer has also been proven to increase bosom milk production in lactating women
WOW!!! Read that with my mouth forming a small "O".But won't d baby been weaned become "shine shine baby"?
HealthRe: 10 Surprising Health Benefits Of Beer by jidewin(op): 8:24am On Jan 17, 2012
dolly a:
liar, lair, lair undecided
beer is bad for your health. lipsrsealed
Hey.u got proofs?
PoliticsRe: Labour Calls Off Strike! by jidewin(m): 1:47pm On Jan 16, 2012
look time to resume to make some small small coins.At least month end, alawey must flow, abeg make we resume bo.
PoliticsRe: Soldiers Flood Lagos Streets As Jonathan Orders To Forestall #occupynigeria Prot by jidewin(m): 9:46am On Jan 16, 2012
GEJ have quietly declared 'state of emergency'in lagos state.
PoliticsAmerica Orders Citizens To Evacuate Nigeria If Strike Goes On Next Week by jidewin(op): 9:27am On Jan 16, 2012
I got this on naijapals.com read.
America Orders Citizens To Evacuate Nigeria
If Strike Goes on Next Week
« posted : January 15, 2012, 08:40:05 PM (12
hrs ago) »
Heard the US Embassy has advised all Americans
living and working in Nigeria to pack and be
ready for evacuation by air if the strike persists till
Friday 20th Jan 2012.
PoliticsRe: President To Address The Nation @7:00am by jidewin(m): 8:29am On Jan 16, 2012
And on top of that,NLC now have ordered SIT AT HOME PROTEST.as at 12.05 am hundreds of armed policemen had taken over ojota in lagos.
Well,the protests shook jonas govt,and I THINK we can still move ahead with N97/Ltr.just my opinion.
HealthRe: 10 Surprising Health Benefits Of Beer by jidewin(op): 8:20am On Jan 16, 2012
So was I bro,but with a lot of pointers here,I began to wonder where all the idea on Non alcoholic fatty liver disease came from.
I wasn't a beer lover except occasionally in the midst of "boys" and my max then was 2 bottles. anything beyond that,I would be in trouble.
But the write seem to have a way of reminding me "those sparklin golden bubbles,cold filtered" is good for ones health", hey don't tell my pastor o. grin grin
Health10 Surprising Health Benefits Of Beer by jidewin(op): 11:14pm On Jan 15, 2012
Ah ? you would say.So was i when i saw the topic on yahoo, i began to wonder could this be the type of Gulder (the Ultimate himself) or STAR lager (shine shine bobo) we dey shack in Naija the writer was refering to?.Well read on sha, but e be like say e get as e be sha.

10 Surprising Health Benefits of Beer
By Lisa Collier Cool

Beer drinkers rejoice: Your favorite brew may be healthier than you think.

For years, wine drinkers have indulged without guilt, reveling in the news that red wine can help protect against heart disease. Recent research shows that beer can also be good for what ails you, from reducing risk for broken bones to helping warding off diabetes and mental decline. It can even increase longevity, a large study suggests.

However, the key to tapping into beer’s benefits is moderation, meaning just one 12-ounce beer per day for women and two for men. Heavy drinking ups the threat of liver damage, some cancers, and heart problems. Bingeing on brewskis can also make you fat, since a 12-ounce regular beer has about 150 calories, while light beer has about 100.

Read about common diet myths that are dangerous to your health

Here are 10 surprising—and healthy—reasons to cheer about your next beer.
1. Stronger Bones

Beer contains high levels of silicon, which is linked to bone health. In a 2009 study at Tufts University and other centers, older men and women who swigged one or two drinks daily had higher bone density, with the greatest benefits found in those who favored beer or wine. However, downing more than two drinks was linked to increased risk for fractures.

For the best bone-building benefits, reach for pale ale, since a 2010 study of 100 types of beer from around the word identified these brews as richest in silicon, while light lagers and non-alcoholic beers contained the least.
2. A Stronger Heart

A 2011 analysis of 16 earlier studies involving more than 200,000 people, conducted by researchers at Italy’s Fondazion di Ricerca e Cura, found a 31 percent reduced risk of heart disease in those who quaffed about a pint of beer daily, while risk surged in those who guzzled higher amounts of alcohol, whether beer, wine, or spirits.

More than 100 studies also show that moderate drinking trims risk of heart attacks and dying from cardiovascular disease by 25 to 40 percent, Harvard reports. A beer or two a day can help raise levels of HDL, the “good” cholesterol that helps keep arteries from getting clogged.

How alcohol affects your sex life
NEXT: Healthier Kidneys >>

3. Healthier Kidneys

A study in Finland singled out beer among other alcoholic drinks, finding that each bottle of beer men drank daily lowered their risk of developing kidney stones by 40 percent. One theory is that beer’s high water content helped keep kidneys working, since dehydration increases kidney stone risk.

It’s also possible that the hops in beer help curb leeching of calcium from bones; that “lost” calcium also could end up in the kidneys as stones.
4. Boosting Brain Health

A beer a day may help keep Alzheimer’s disease and other dementia at bay, researchers say.

A 2005 study tracking the health of 11,000 older women showed that moderate drinkers (those who consumed about one drink a day) lowered their risk of mental decline by as much as 20 percent, compared to non-drinkers. In addition, older women who downed a drink a day scored as about 18 months “younger,” on average, on tests of mental skills than the non-drinkers.

Learn which foods can help your body heal
NEXT: Reduced Cancer Risk >>
5. Reduced Cancer Risk

A Portuguese study found that marinating steak in beer eliminates almost 70 percent of the carcinogens, called heterocyclic amines (HCAs) produced when the meat is pan-fried. Researchers theorize that beer’s sugars help block HCAs from forming.

Scientists also have found that beer and wine contain about the same levels of antioxidants, but the antioxidants are different because the flavonoids found in hops and grapes are different.
6. Boosting Vitamin Levels

A Dutch study, performed at the TNO Nutrition and Food Research Institute, found that beer-drinking participants had 30 percent higher levels of vitamin B6 levels in their blood than their non-drinking counterparts, and twice as much as wine drinkers. Beer also contains vitamin B12 and folic acid.
7. Guarding Against Stroke

Researchers at the Harvard School of Public Health found that moderate amounts of alcohol, including beer, help prevent blood clots that block blood flow to the heart, neck and brain—the clots that cause ischemic stroke, the most common type.
8. Reduced Risk for Diabetes

Drink up: A 2011 Harvard study of about 38,000 middle-aged men found that when those who only drank occasionally raised their alcohol intake to one to two beers or other drinks daily, their risk of developing type 2 diabetes dropped by 25 percent. The researchers found no benefit to quaffing more than two drinks. The researchers found that alcohol increases insulin sensitivity, thus helping protect against diabetes.
9. Lower Blood Pressure

Wine is fine for your heart, but beer may be even better: A Harvard study of 70,000 women ages 25 to 40 found that moderate beer drinkers were less likely to develop high blood pressure—a major risk factor for heart attack—than women who sipped wine or spirits.
10. Longer Life

In a 2005 review of 50 studies, the U.S. Department of Agriculture (USDA) reported that moderate drinkers live longer. The USDA also estimates that moderate drinking prevents about 26,000 deaths a year, due to lower rates of heart disease, stroke, and diabetes.

These benefits appear to apply in other countries as well, with an earlier study reporting that, “if European beer drinkers stopped imbibing, there would be a decrease in life expectancy of two years—and much unhappiness.”

Follow this plan to be happy and live longer
undecided shocked grin
PoliticsRe: The Real Cost Of Nigerian Petrol(pms) by jidewin(op): 9:52am On Jan 13, 2012
Eventually,if this gross anomaly on the part of government is allowed to continue,currently this is what daily food items will cost now
1.A bag of rice will move from N8,500 to N16,000 (I.e before march when jona finally stops importation of rice)
2.A loaf of bread (agege) N50 will now N90-N100 considering the cost of sugar and flour which all increases
2.B loaf of bread (sliced) N200 will now be N380-N400
3.Bean cake (akara)/moin moin N30/N50 will now be N60/N90
4.Yam tuber -abuja yam from N500 now will be N750-N900 per tuber, same applies to the type brought in from onitsha,however the only cheap yam will be the kwara type from N350 to N500
5.Expect beverages and juice drinks to rise astronomically too
Beer N150-N180/N200 for the lesser brands while I'm certain star/gulder/big-small stout/harp/HEINEKEN will be from N200-N350.
6.Medications,clothings,foot wears,school fees,office rents,all will shoot up.business centers and Internet cafes won't be left out
My analogy may seem comical but in few weeks to come,don't be surprised when u hear from market places or see adverts on papers and other media aboout price adjustments due to new pump price.
GEJ's diesel engine 1600 buses to cater for transport if shared among the 36 state governors does not change anything.in fact I see the buses as a gifts of appreciation from mr presido to the state governors for agreeing to the "subsidy removal" quietly.
These people (govt :Fed,state,LG)does not have the interest of their citizens at heart at all.
PoliticsThe Real Cost Of Nigerian Petrol(pms) by jidewin(op): 9:19am On Jan 13, 2012
I got this from an economist on Punch newspaper




THE REAL COST OF NIGERIAN PETROL(PMS)
On December 10, 2011, if you stopped at the
Mobil filling station on Old Aba Road in Port
Harcourt, you would be able to buy a litre of
petrol for 65 naira or $1.66 per gallon at an
exchange rate of $1/N157 and 4 litres per
gallon. This is the official price. The government
claims that this price would have been
subsidized at N73/litre and that the true price of
a litre of petrol in Port Harcourt is N138/litre or $
3.52 per gallon.
They are therefore determined to remove their
subsidy and sell the gallon at $3.52. But, On
December 10, 2011, if you stopped at the Mobil
Gas station on E83rd St and Flatlands Avenue in
Brooklyn, New York, USA, you would be a able to
buy a gallon of petrol for $3.52/gallon. Both
gallons of petrol would have been refined from
Nigerian crude oil. The only difference would be
that the gallon in New York was refined in a US
North East refinery from Nigerian crude
exported from the Qua Iboe Crude Terminal in
Nigeria while the Port Harcourt gallon was either
refined in Port Harcourt or imported. The idea
that a gallon of petrol from Nigerian crude oil
cost the same in New York as in Port Harcourt
runs against basic economic logic. Hence,
Nigerians suspect that there is something
irrational and fishy about such pricing. What
they would like to know is the exact cost of 1
litre of petrol in Nigeria.
We will answer this question in the simplest
economic terms despite the attempts of the
Nigerian government to muddle up the issue.
What is the true cost of a litre of petrol in
Nigeria ? The Nigerian government has
earmarked 445000 barrel per day throughput
for meeting domestic refinery products
demands. These volumes are not for export.
They are public goods reserved for internal
consumption. We will limit our analysis to this
volume of crude oil. At the refinery gate in Port
Harcourt, the cost of a barrel of Qua Iboe crude
oil is made up of the finding /development cost
($3.5/bbl) and a production/storage /
transportation cost of $1.50 per barrel.
Thus, at $5 per barrel, we can get Nigerian Qua
Iboe crude to the refining gates at Port Harcourt
and Warri. One barrel is 42 gallons or 168 litres.
The price of 1 barrel of petrol at the Depot gate
is the sum of the cost of crude oil, the refining
cost and the pipeline transportation cost.
Refining costs are at $12.6 per barrel and
pipeline distribution cost are $1.50 per barrel.
The Distribution Margins (Retailers, Transporters,
Dealers, Bridging Funds, Administrative charges
etc) are N15.49/litre or $16.58 per barrel. The
true cost of 1 litre of petrol at the Mobil filling
station in Port Harcourt or anywhere else in
Nigeria is therefore ($5 +$12.6+$1.5+ $16.6)
or $35.7 per barrel . This is equal to N33.36 per
litre compared to the official price of N65 per
litre. Prof. Tam David West is right. There is no
petrol subsidy in Nigeria.
Rather the current official prices are too high.
Let us continue with some basic energy
economics. The government claims we are
currently operating our refineries at 38.2%
efficiency. When we refine a barrel of crude oil,
we get more than just petrol. If we refine 1
barrel (42 gallons) of crude oil, we will get 45
gallons of petroleum products. The 45 gallons of
petroleum products consist of 4 gallons of LPG,
19.5 gallons of Gasoline, 10 gallons of Diesel, 4
gallons of Jet Fuel/Kerosene, 2.5 gallons of Fuel
Oil and 5 gallons of Bottoms. Thus, at 38.2% of
refining capacity, we have about 170000 bbls of
throughput refined for about 13.26 million litres
of petrol, 6.8 million litres of diesel and 2.72
million litres of kerosene/jet fuel. This is not
enough to meet internal national demand. So,
we send the remaining of our non-export crude
oil volume (275000 barrels per day) to be
refined abroad and import the petroleum
product back into the country. We will just pay
for shipping and refining. The Nigerian
government exchanges the 275000 barrels per
day with commodity traders (90000 barrels per
day to Duke Oil, 60000 barrels per day to
Trafigura (Puma Energy), 60000 barrels per day
to Societe Ivoirienne de Raffinage (SIR) in
Abidjan, Ivory Coast and 65000 barrels per days
to unknown sources) in a swap deal. The landing
cost of a litre of petrol is N123.32 and the
distribution margins are N15.49 according to
the government. The cost of a litre is therefore
(N123.32+N15. 49) or N138.81 . This is
equivalent to $3.54 per gallon or $148.54 per
barrel. In technical terms, one barrel of Nigerian
crude oil has a volume yield of 6.6% of AGO,
20.7% of Gasoline, 9.5% of Kerosene/Jet fuel,
30.6% of Diesel, 32.6% of Fuel oil / Bottoms
when it is refined.
Using a netback calculation method, we can
easily calculate the true cost of a litre of
imported petrol from swapped oil. The gross
product revenue of a refined barrel of crude oil is
the sum of the volume of each refined product
multiplied by its price. Domestic prices are $
174.48/barrel for AGO, $69.55/barrel for
Gasoline (PMS or petrol), $172.22/barrel for
Diesel Oil, $53.5/barrel for Kerosene and $
129.68/barrel for Fuel Oil. Let us substitute the
government imported PMS price of $148.54 per
barrel for the domestic price of petrol/gasoline.
Our gross product revenue per swapped barrel
would be (174.48*0.066 +148.54*0.207+
172.22*0. 306+ 53.5*0.095+129. 68*0.326) or
$142.32 per barrel. We have to remove the
international cost of a barrel of Nigerian crude oil
($107 per barrel) from this to get the net cost of
imported swapped petroleum products to
Nigerian consumers. The net cost of swapped
petroleum products would therefore be $142.32
-$107 or $35.32 per barrel of swapped crude oil.
This comes out to be a net of $36.86 per barrel
of petrol or N34.45 per litre.
This is the true cost of a litre of imported
swapped petrol and not the landing cost of
N138 per litre claimed by the government. The
pro-subsidy Nigerian government pretends the
price of swapped crude oil is $0 per barrel (N0
per litre) while the resulting petroleum products
is $148.54 per barrel (N138 per litre). The
government therefore argues that the “subsidy”
is N138.81-N65 or N73.81 per litre. But, if
landing cost of the petroleum products is at
international price ($148.54 per barrel), then
the take-off price of the swapped crude oil
should be at international price ($107 per
barrel). This is basic economic logic outside the
ideological prisms of the World Bank. The
traders/petroleum products importers and the
Nigerian government are charging Nigerians for
the crude oil while they are getting it free.
So let us conclude this basic economic exercise.
If the true price of 38.2% of our petrol supply
from our local refinery is N33.36/litre and the
remaining 61.8% has a true price of N34.45 per
litre, then the average true price is (0.382*3
3.36+ 0.618*34. 45) or N34.03 per litre. The
official price is N65 per litre and the true price
with government figures is about N34 per litre
(even with our moribund refineries).
There is therefore no petrol subsidy. Rather,
there is a high sales tax of 91.2% at current
prices of N65 per litre. The labor leaders meeting
the President should go with their economists.
They should send economists and political
scientists as representatives to the Senate
Committee investigating the petroleum subsidy
issue. There are many expert economists and
political scientists in ASUU who will gladly
represent the view of the majority. The labor
leaders should not let anyone get away with the
economic fallacy that the swapped oil is free
while its refined products must be sold at
international prices in the Nigerian domestic
market.
The government should explain at what price
the swapped crude oil was sold and where the
money accruing from these sales have been
kept. We have done this simple economic
analysis of the Nigerian petroleum products
market to show that there is no petrol subsidy
what so ever. In the end, this debate on petrol
subsidy and the attempt of the government to
transfer wealth from the Nigerian masses to a
petrol cabal will be decided in the streets.
Nigerian workers, farmers, students, market
women, youths, unemployed, NGO and civil
society as a whole should prepare for a long
harmattan season of protracted struggle. They
should not just embark on 3 days strike/protests
after which the government reduces the hiked
petroleum prices by a few Nairas. They must
embark upon in a sustainable struggle that will
lead to fundamental changes. Let us remove our
entire political subsidy from the government and
end this petroleum products subsidy debate
once and for all. It is time to bring the Arab
Spring south.
FG MUST REVERT TO =N=65 PER LITRE.
Please check the Features Column of Economic
Confidential for similar articles and rejoinders on
the Removal of Fuel Subsidy in Nigeria

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