1. There are six other private refineries, including BUA refinery which is coming up soon 2. If subsidy had been removed as late as 2012, there would have been massive investment in new refineries, because refining would have been profitable without subsidy. Not removing subsidy in 2012, created a condition where the only refinery investors would invest in was the dangote one because if it failed, they could recover their costs. Not so with the other 59 licence holders .(as at 2011) 3. That is why subsidy should have gone earlier. 4. Subsidy for five decades caused NNPC refineries to run at a loss, and provided the nidus for corruption and ineffiency to fester. It also meant that there were no monies for TAM..which led to it not being done for 15 years from 1994-2009, and led to the refineries becoming scrap.
Subsidy should have gone...much earlier. E get why.
Considering that 1. Maintenance and estimated upgrade costs are very very expensive, because the refinery is mostly built with imported machinery, plus he has to pay staff salaries at world level, not at Naija level, and pensions too , and also taxes...and also considering that transport costs from the refinery are too high, there is no way in God's heaven that fuel from that refinery can cost N500, unless the naira appreciated drastically in the last few weeks.
2. And he also has to pay debts. He took loans of over 15 billion dollars to build that refinery. The government loan of 3 billion dollars has been paid, but the 15 billion dollars has not been fully paid.
See the problem?
He is. He still buys crude from abroad
Also, he has to make a profit on every thing he sells from that refinery. He cannot make petrol 'cheap'...because one he starts losing money from petrol, it would essentially create financial problems for the entire refinery.
TO sum it up...
Welcome to reality. You don;t have to like it.
The only way for petrol prices to come down would be for NNPC to reactivate it's old fuel pipeline, and connect it to dangote refinery, so that fuel can be piped to various fuel depots across the country, which would help reduce transport costs, and thus the price of fuel. Just not down to N500 per liter.
All these excuses don't count, importation should be encouraged without heavy tarrifs. Dangote muscles importers with everything within his arsenal so he can bleed the country. Maintenance and debt is absolutely his headache....do you know the same Dangote you are supporting is planning to build another refinery in Kenya (that is his business ).
nairalanda1: Well, so if the government comes and tells you that they would be setting your prices, assuming you were a businessman, at rates that would make people happy, but make it impossible for you to meet costs of doing business...that is a wise idea, and saying otherwise, is...wrong.
Well, whatever you throw at me, running a business profitably attracts investment, and makes the business able to give good service. It's the law, you know.
Dangote is monopolistic, and if you know anything about this oil and gas you will know there is no way he should be selling above 500 naira. He is not sourcing crude outside Nigeria and besides petrol is only one by product.
nairalanda1: This one seems to think that companies do not need to increase their production costs, that his candidate has a magic money tree that can pay for the increased costs of refining fuel.
When NIgerians want to avoid facing economic reality, they go to mockery mode.
Government's job is not to make things cheap, it is to make the economy suitable for investments to thrive. Yes, that is why GEJ was right in 2012, and tinubu was wrong in 2012, and on taking over in 2023, he tinubu found out the hard way how GEJ was right back then.
But this guy wants government to pay subsidy costs from a budget that is based on borrowing for the most part, so that government borrows more to pay his subsidy, and the debt gets worse and worse
And after he and his descendants would be paying off the debt at a higher rate than we expect now forever
But hey' cheap fuel.
(I am annoyed with him because he is far more intelligent than this).
nwirinedu: How did you arrive at this figure? Where are the pictures? You cant afford gala not to talk of transportation to the coastal road to take pictures of missing manholes.
Cowards using mob action… if e sure for them, they should go one on one
Abi na only them get brothers… if I’m the guy, I swear to god I’ll come back for revenge and i will come with numbers… I’d even pay more street boys to join me and outnumber them
IGBOSON1: Quit trying to be sneaky and clever-by-half! The problem i see with your emilokan/hegemonic/'one-Nigerianist' sort is that you actually think you've been smart in all your actions and inactions from the late 60s to date! But the reality of the shithole country WE ALL live in today tells a different story altogether! Your sort are prepared to lie, betray, cheat, sabotage and do just about anything it takes just so the favored elite group to which you belong, in partnership with your northern allies, can continue to control and milk the resources and opportunities of a 'one Nigeria' majorly for the benefit of your politicians, entrepreneurs, traditional rulers, clerics and your regions, while everyone else, including the ethnicity in the east that you despise, are relegated to scrambling for any crumbs you deign to throw down to them from the high table! Your winner-takes-it-all mindset typifies EXACTLY what is wrong with the black African and why they have struggled to progress as a race ever since the white man left them to their own devices in the 60s!
Only one intent on revisionism will read a different meaning into what Awo said! He wasn't drunk when he said if the Eastern region, whether by omission or commission, were allowed to leave, that the Western Region wouldn't bother staying behind to continue doing 'one Nigeria' with the North....that they would japa as well! He knew his position and the capacity/capabilities of the Western Region when he made that unfortunate statement, so don't bother trying decades later to give a different meaning to what was clearly stated and easily understood! The shocking thing is that he not only made that statement, but went on to support the North to frustrate the Eastern Region from leaving, thus sustaining the 'one Nigeria' WE ALL are 'enjoying' today! Does anyone think the North would have been able to handle a Eastern, Western and Mid-Western secessionist bid at the same time? Of course not! It needed for one or two of the three to sabotage the bid for the North to succeed! And you know something else.....given the centuries old interactions between the groups of Southern Nigeria and similarities in values and world-view (which was western oriented/tilted), it's not beyond the realms of possibility to suggest that, with the North gotten rid of, there could have been a re-coalescing together of the three to form a new Federation or Con-Federation! But as things stand today, and given the amount of water that's passed under the bridge, this isn't a possibility anymore!
Given the benefit of hindsight, any honest assessment of Awos' choices in the late 60s would return a verdict that the wrong choices were made not only for his ethnicity and region, but for history books as well! Looking back, it's clear all principal actors during that period made errors, including my own Zik and Ojukwu, but the difference between you and i is that while i'm prepared to call my own out on the mistakes they made, you on the other hand have taken a position that Awo was infallible....probably just because you want to 'win' a argument on Nairaland!
The statement that 'all is fair in war' is another unfortunate one! You can see similarities between Awo and Tinubu (the present leader of the Yoruba) in this regard!
In all your rants you failed to show proof that Awo made any promise to Ojukwu.
but the difference between you and i is that while i'm prepared to call my own out on the mistakes they made
Still in all your rants you still failed to call your own out....you ranted about the others but nowhere did you condemn your own.
but went on to support the North to frustrate the Eastern Region from leaving, thus sustaining the [i]'one Nigeria
Two questions: Ironsi and Ojukwu met Awo in prison and left in there,Gowon later released him. My question is why didn't they release him? 2, what connections did owerri have with Lagos that made Biafra decide to match towards our land.
NaijaHelper1: You're the one distorting facts. Awolowos commitments was made in the presence of other members of the team who confirmed same in independent reports. The public declaration was the outcome of private talks which was not contested. What are you on about? Well we'll remind you of this when the time comes. Better bookmark it. Good thing your usual bed partners are ravaging your lands and ravishing your lands and your women. Karma is a bitch ain't it?
Awo never committed to Ojukwu stop distorting facts(show proof), notice how you cunningly side stepped the fact when I mentioned that Ojukwu and his co-travelers met Awo in prison and left him there,but somehow you people felt he should still hold Ojukwu in high esteem. Stop hallucinating the bokoharam and kidnapping is not limited to Nigeria and besides they have done worst in the east. I repeat wetin concern owerri with Lagos. If you want to pull out, then bounce what business did you have with Lagos, if not for greed....how the two take join. When the time comes,believe me you won't be spared this time around. Just push your luck and find out.
NaijaHelper1: It's not an accusation actually. Just a statement of fact. When Awolowo visited the Eastern region during the Pogrom to discuss the possible ways forward if the Eastern region were to be pushed out of Nigeria due to the persecution in the North, Awolowo pledged to follow suit. In his own words (which is still argued) he said: "If the Eastern Region is allowed by acts of omission or commission to secede from or opt out of Nigeria, the Western Region will automatically follow suit." When we declared , he refused to follow suit and instead concluded that the west was not militarily capable of seceding. While it was a wise and insightful decision that I must admit saved his people, it was still a betrayal of an informal pact he had with the Igbos. Let's not also forget a Yoruba man brought the idea of the blockade that killed millions of Igbos. Not a Fulani or a Hausa man. If you're up for it, we can have a debate on it so far as you promise not to turn it into an insult match.
Awo didn't have the military military might nor the power to pull out,and the statement to pull out was directed at the fg not to Ojukwu(stop dostorting facts). After all Ojukwu and Ironsi met Awolowo in prison and left him there....
Let's not also forget a Yoruba man brought the idea of the blockade that killed millions of Igbos
All is fair in war, you matched towards Lagos and you got served
FSBoperator: There's no room for Judiciary consent to ok or reject an impeachment notice.
Justice Amadi clearly abdicated his constitutional mandated role as Chief Judge to constitute an independent panel to investigate allegations set before Fubara by the House.
Also, recent rulings by the Judiciary as per what constitutes a judicious matter have been established.
Justice Amadi was not expected to rule on Fubara's impeachment case but rather to carry out his delineated role and function in such circumstances as the constitution warrants and mandates from a sitting Chief Justice.
You have not given me a clear example of where the judiciary was left out and the governor was removed. You don't have to be emotional about it. If everyone is not n board the impeachment, the governor remains.
The State Chief Judge does not have discretion to overrule the Legislative branch from carrying out their stipulated constitutional function.
Notifying the State Chief Judge is just a procedural ritual which the Chief Judge is just made aware of an impending impeachment.
The State Chief Judge can not overrule the house over their impeachment notice but is obliged to take cognizance of the fact that an impeachment process against the governor has begun.
The State Chief Judge not signing it did not invalidate the process of impeachment or stops it from going through.
It is only a formal notice to the state Judiciary that the individual that you administered the oath of office as governor of the state is set to face an impeachment hearing and that further communications will be passed to the state Judiciary concerning the final outcome of the impeachment.
In short, they are telling the state Judiciary to get ready to swear in a replacement if the impeachment is successful.
Wrong,sight an example where the governor was impeached successfully without the judicial backing
ahmedio2017: Can you explain why God created hell fire and Satan? There is a purpose for everything, jesus wasn't killed he was taken up. So why are you twisting the Qur'an.
You made a claim and I asked how, who are the eye witness that saw Jesus escape the cross. The Christian God will not deceive that is why there are accounts of his capture and nailing on the cross. But in the case of islam it claims it was deception on the side of islam God,my question is who was with Jesus at the time that can verify your claims of his escape.
Kobojunkie: Ignorance is not bliss! When you propagate lies, you become no different from those you think you attack. If you do not get the story straight, don't you see your religion is made even more meaningless by your lies?😒😒
The following is what the Quran actually says about what happened to Isa of Islam. Allah of Islam took Isa of Islam away and deceived his disciples and others into believing that the man who died on the cross was, in fact, the Isa of Islam. https://legacy.quran.com/4/153-159
You need to read the Quran and the Hadiths for yourself so you can learn exactly what the Islamists believe and better compare it to what is contained in other texts. 😒
Can you explain how allah took Isa away Secondly why is allah deceptive? This is a serious allegation according to what you wrote up there.
A child starting Primary 1 today may not enter the workforce until around 2040.
Yet many of our classrooms are still preparing children for the economy of the 1980s.
We still place too much emphasis on memorising notes, passing exams and reproducing what the teacher said.
But the world has changed.
The child of today will grow into a world shaped by artificial intelligence, automation, renewable energy, biotechnology, digital finance and global competition.
So why are we still teaching as though all they need is a certificate?
Nigeria’s education system needs more than another small adjustment. It needs a complete rethink.
At primary school, children should still learn strong reading, writing and mathematics. But they should also begin learning digital skills, basic financial literacy, gardening, first aid, public speaking and simple problem-solving.
Junior secondary school, students should be introduced to coding, artificial intelligence, entrepreneurship, debate, critical thinking, environmental awareness and practical life skills.
At senior secondary level, we should stop forcing every child into the old Science, Arts or Commercial boxes.
Students should be able to follow proper career pathways such as:
• Artificial Intelligence and Computer Science • Engineering and Manufacturing • Healthcare and Biotechnology • Business and Global Finance • Modern Agriculture and Food Processing • Film, Animation and Digital Media • Law, Governance and Public Policy
Before leaving secondary school, every Nigerian student should have more than WAEC or NECO results.
They should leave with a recognised digital skill, practical project experience, confidence in public speaking, some exposure to work or apprenticeship, and either a business idea or portfolio showing what they can actually do.
We must also change how students are assessed.
Not everything should depend on one final examination.
Let students build projects.
Let them solve real problems.
Let them work in teams.
Let them spend time in workshops, farms, laboratories, offices and industries.
Nigeria cannot keep producing graduates who know how to pass exams but do not know how to create value.
The purpose of education should not be to produce millions of young people waiting for government jobs.
It should be to raise problem-solvers, builders, innovators and employers.
A nation cannot become prosperous with an education system that belongs to the past.
The child entering school today will live in the future. Our curriculum must get there before they do.
Please share this with parents, teachers, school owners, education officials and policymakers.
The children will adapt to the changing world, most developed nations built a system for themselves, Japan education system is completely different from the rest of the world even China and the rest of the world. Nigeria needs its own system.
abc115: The NRS Chairman, Zacch Adedeji Rolls Out Economic Snapshot Comparing May 2023 Baseline to Mid-2026 Gains Across Key Indicators:
Domestic refining capacity May 2023: 30,000 bpd Mid-2026: 700,000 bpd (Nigeria’s first net petrol export recorded in March 2026)
NGX All-Share Index / market cap May 2023: 55,738 points / ₦30.36 trillion Mid-2026: 250,000 points / ₦161 trillion
Out-of-school children May 2023: 20 million (UNICEF estimate) Mid-2026: 18.3–18.5 million (UNICEF)
Minimum wage May 2023: ₦30,000 Mid-2026: ₦70,000
The NRS Chairman, Zacch Adedeji Rolls Out Economic Snapshot Comparing May 2023 Baseline to Mid-2026 Gains Across Key Indicators:
Domestic refining capacity May 2023: 30,000 bpd Mid-2026: 700,000 bpd (Nigeria’s first net petrol… pic.twitter.com/2o7uoI5tUk
attackgat: Biafran agitators loyal to Simon Ekpa took to major areas of Finlands capital, Helsinki, to demand his release
The protesters who were wearing Simon Ekpas picture on their shirts, urged the Finland government not to work with Nigeria, which they referred to as a "zoo"
Clowns,since they have a country now they should send biafra minister of foreign mission to release him
Business › Re: Dangote Hikes Petrol Price Three Times In Eight Days by maivd: 8:43am On Aug 30
