₦airaland Forum

oz4real83:
Flood the market with local poultry products and it becomes unprofitable for smugglers. When local supply can't meet demands in terms of price,quality and quantity,there will always be market for smugglers.

I think the problem is that it will take a while to "flood the market". The local producers actually cannot meet demand. Our local farmers will need assistance in terms of investments and experties to increase production of these chicken. I tot of the option of accelerated growth of these chicken but if my experience in South Africa is to come by, Nigerians will not eat any "enhanced chicken"

dfrost:
You have said it all. Nigerians are crazily greedy with little or no regard for the poor man on the streets.

Frozen chicken costs less than live chicken but it's even expensive to preserve a chicken. Shylocks they are.

Most of those imported frozen chicken are not safe. Many are preserved with chemicals that are not safe for human consumption. Some of those chickens are suspected to be genetically modified

Tudahko:

hisgrace090: :
This farmers are becoming more of alarmist.

Were do they see imported chicken for Christ sake?

Despite how difficult they have made it for people to enjoy chicken meal in Nigeria so they"re still lamenting?

Allowing Nigerians to dominate any market is becoming more dangerous by the day, do to greed.

Cement price have escalated because Dangote is in charge.

Na local fowl I dey chop

Me too o! I don't even trust anyone that is frozen. My madam simply goes to farms or markets, buys chicken and ask them to roast it.

jnrremedy:
which one is technically again
ubec money is spent on agric abi

Bros,

You better let us put it like that so that nay-sayers who chose not to recognise UBEC budget can let us breathe. I put it to a guy on twitter yesterday, and his reaction beats me. He said, but I should know UBEC is slush fund. I told him in that case we should regard all budget line items slush funds

Blue3k:
The government already has made refining priority. They approved building of more refineries like Dangote and modular refineries all over ND. Buhari refused sell/concession state owned refineries so we're doing more turn around maintenance for the upteenth time. It's mainly a private sector effort the government is focusing on by trying to pass things like Petroleum industry bill and such supposedly.

Anyway like Mapet explained oil exploration is calculated risk. Geology speaking potential exist in Benue and Chad basin from what I researched. Neighboring countries found oil near those basins. Niger republic didn't find their oil till they got Chinese help after searching decades. Chad didn't find it till decades later as well.

Bros,

If you did not come into this conversation, I would not have dignified it with any response. I consider responding to this guy a waste of my time. First and foremost he's immature, petty and pained, added to the fact that he's lacks candor and honor. I am persuaded to believe this very topic was opened out of spite rather than knowledge sake, but that aside I will put things into perspective. Permit me to do a fairly long elaboration of this conundrum.....

If anybody is familiar with the Oil and Gas industry/business, you should have realized that asking govt to invest in surface facility business like refinery is not only "patently ignorant“ but ridiculous to say the least. Refinery business is very complex, delicate and capital intensive, it requires so much expertise. Even the big oil giants, ExxonMobil, Shell, Total etc have offloaded their refinery businesses all over the world decades ago. Is it any wonder that we have not been able to put any of our current refineries on constant ops for 6 months stretch? OBJ realized the folly of govt investing, took a strategic decision and sold Kaduna refinery to Dangote, yet late Yar'Adua foolishly reversed it.

Kaduna refinery is about the most idiotic project in history. We played politics with something that made no sense. The pipeline to feed the refinery is almost 1000km away and cost of the pipeline to feed the refinery is more than the cost of building the refinery, not to talk of maintenance. PMB also did the foolish thing, asking Kachikwu to fix the refineries. Our refineries are outdated, old and weak. Each time we try to to put them in the market, the value decrease.....

Another issue is that the dynamics of refining changed with technology. New refineries has capabilities to refine heavy crude, sulphur which used to be waste is now valuable, these refineries are therefore able to extract more oil derivatives and gas liquids, giving more value. With this consideration, some countries are not bothered about building refineries, because they can move their crude to countries with sophisticated refineries. The nature of contracts structured in such a way that you either sell crude or pay tariffs. The tariff option is so popular giving traders flexibility to make sell in many ways.

FG is trying to exit its ownership of refineries as they are not capable of of running them. I won't be surprised if refineries top the list of assets that will be sold in 2018. FG had been muting the idea of private refinery a long time ago. Dangote is a late bloomer in this but because he's building the biggest and his financial muscles, that's why his is the most popular.

My summary on this is that

1. Literarily asking FG to build more refineries is ignorant and ridiculous. FG has no business in building more refineries

2. Should they encourage private refineries like Dangote and the likes? Absolutely..... but that is also not that simple. I am close to Dangote refinery project. It will overrun its deadline and will not come in at the promised time.


On exploration, it is conventional in oil and gas business to "find more oil". A typical oil and gas company that is not drilling exploration wells draws the ire of govt and risks his license to operate. The reason is that oil wells naturally decline and the sum effect is a reduction in production capacity of the company and consequently the country. While you enhance your current wells, you drill new ones for more oil.

At a national level, it is in the interest of the country to keep exploring to find more reservoir. In a successful find, it's more like you have opened the country to a new lease of economic empowerment. If $3b is what is currently spent, then it is contextually chicken change. That is just about the cost of 2 small assets. For example Shell paid Dan Etete/GEJ/Nigeria over $1b for the oil license in the Malabu scandal, which is just the cost for just 1 license ... You can now imagine a legal returns if Nigeria is selling license on multiple acreages in any of these basins in a successful find.

Exploration of new area is normally does not attract financial investment at the early stages like this as banks and finance institutions don't want to fund exploration phase becos of its high risk and the long time to recoup investments. They come in with funds, when you have an exploration success. That is why governments takes the burden of exploration. Govt in investing in exploration to discover reserves and once those researves have been proven, then the financiers come in, govt recover their costs thru signature bonuses, and other incentives and they make much more than they can spend.

I see a lot of ignorance in the public domain. How can people say oil is not a available in the north, when such is not backed up by seismic data? I took a guardian reporter on on twitter, when I saw a very unprofessional reportage about exploration in Chad, Benue and Anambra basins. She mentioned every other thing but what Nigeria stands to benefit. She down-played all the professional views of seasoned geologists and kept referring to "expert opinions" which are mostly from those who have little to do with oil business. I challenged Guardian by asking 7 questions bothering on the geology, the business, ROI to Nigeria, Capacity Development, Economy and Forex. Every other things discussed is about sectional politics and some ridiculous arguments about "wrong-timing".

If we find oil in any of these basins, it adds to our natural reserves. This heralds investments as Oil and Gas companies will start trouping in to take up the licenses. It addresses our financing problems for instance we could do infrastructure-for-oil exchange. CNOOC beat Shell to an investment deal in Angola in a new discovery. While Shell was making their "regular offer", CNOOC backed by the Chinese govt, added perks "Oil-for-Infrastructure" deal. They committed to build major high-speed rail lines for Angola at no cost (actually factored into the cost of oil). Do you think if we have additional oil, our borrowings will not reduce? We have a projected infrastructure spending of $100b for the next 50years. In this budget we could only allocate $50b, leaving us a $50b deficit. Those who argue to that we should leave oil are blind-sided.

My summary here is


FG should concentrate on exploration, as this is what guarantee our economic sustainability till we can meet the infrastructure deficit

IBBG:
FCT alone is 40 billion. and education is just 60 billion and health 71 billion. No wonder our health care and education is in shambles. What does the FCT produces to warrant 40 billion budget.

1. Yes, FTC is like a state, run by a minister (who is like a governor) and under the control of FG. You think they don't need a budget?
2. Education needs much more, I agree. But I am wondering why is the split between Education - N60b and UBEC - N109.06 billion? Technically speaking, does this not mean Education is actually N169b?

Yinkaotunba123:
Implementation is very key about this budget proposal. I just hope this money will not up in the pocket of these thieves.

Bros,

It is "budget" not "money". It is "intention to spend" and not "Cash"

Standing5:
mapet

Posted @ 3.38am?

Meth......

anonimi:
Is bubu not the minister of petroleum anymore who has swallowed $26 billion with Baru

Bros,

Spare me the $26 billion rhetoric. If you choose to believe that nonsense......be my guest.

Meanwhile how does that equate to the guy that said "Buhari owes him"?

Standing5:
Stop laying bare your ignorance out of arrogance. By say maximize value of current reserve. I mean refining it locally to employ more people like you to create jobs and other benefits. Take a look at Dangote refinery dummy. It will create hundreds of thousand of jobs.
Why gamble on more oil when you can't refine that you have to maximize its value?

1. Oh interesting. Dangote Refinery will create hundreds of thousand of jobs........ I am grateful for letting me know what I didn't? and you think finding more oil will reduce jobs? You're very ignorant

2. Your same ol refining....maximise its value rhetoric is needless, save it for your ignorant folks. Both govt and private sector are working towards refining, apart from Dangote, there are many application for private refineries in various approval stages in DPR and some investors are already setting up; so what is new?

3. It is only a "dodos" that will not know that Oil exploration in itself is a "scientific gamble" with tried and tested procedure. It is only a non-starter that will not know that one of the yardstick of performance in the Oil and Gas business both for govt and private sector is "reserve-replacement".

Southern Mandate Group?

SMDH

Standing5:
Mumu. [b]Who said present crude reserves will never be exhausted? [/b]Always replying to figments of your unbalanced imagination.

1. I tot you would have responded to the idiotic poser of "How many years did it take to find oil in Oloibiri?". I understand, not only are you daft and ignorant, you have no honor. You don't want to acknowledge your gaffe

2. As for the bolded part, I tot your position was

Have we refined the one gotten from ND to maximize its value ? NO.
You are here talking nonsense about wasting more funds all in the name of exploring basins.

But that said.......I am wasting my time engaging a non-starter like you

stephany007:
Buhari has Zombified so many Nigerians that dey can no longer reason imagine someone is owing you and you still praising him i just taya .

You mean Buhari is owing you? Abeg which Buhari did you play "kashie" with?

alfanio:

Originalsly: :
As I understand it.... this is for large electricity users only...... they would bypass the middle man DISCOS and buy directly from GENCOS. That's fine.... they the big companies will have much lower bills and more likely would increase their electricity usage. When they increase usage there would be less electricity available for the masses...the small electricity users. There would be less income for the DISCOS. So guess what the DISCOS will do to maintain their level of income? Increase tariff on the less electricity it will be distributing.... and that is what will be our share...bigger bills. There is nothing in this bill to freeze tariff for the small man nor to maintaining his supply.

Very wrong submission here. the power the large electricity users will be using will the excess 2000MW that the Discos have not being able to accept so more electricity for ordinary users and more funds for Gencos.

True dat. .......but what happens when the LPUs exhaust the 2GW and demand for more, especially when they come cash-at-hand as against the need to wait for some complex reconciliation? The last power audit done on Lagos shows that Lagos needs about 20GW, a substantial part of power consumption in Lagos comes from the industries and LPUS, so only a matter of time before Lagos LPUs alone exhaust the 2GW

Originalsly:
As I understand it.... this is for large electricity users only...... they would bypass the middle man DISCOS and buy directly from GENCOS. That's fine.... they the big companies will have much lower bills and more likely would increase their electricity usage. When they increase usage there would be less electricity available for the masses...the small electricity users. T[b]here would be less income for the DISCOS. So guess what the DISCOS will do to maintain their level of income? Increase tariff on the less electricity it will be distributing.... and that is what will be our share...bigger bills.[/b] There is nothing in this bill to freeze tariff for the small man nor to maintaining his supply.

Slow down. Discos CANNOT increase tarriff arbitrarily, that is why we have NERC. I think the upside of this is that it will make the Discos to get up their fat asses and actually develop their market. For example they will invest in and commit to metering, so that they can increase their revenues

reflexionz:
please before any one starts saying anything, understand some terms, Eligible customers and Large Power Users, so dont think with your Prepaid Single phase meter you wont utilize the disco?
in other news it just spells doom for the discos and more woos on the customers, LPUs make up for about 70% of discos revenue, take that away and wow you have a major hole in revenue which will be transferred to non LPU's (residential and commercial).
these guys are jokers they have no idea what they are doing there? power sector needs long term investment to secure infrastructure and network integrity. SIMPLE!

Unfortunately the Discos have themselves to blame for loosing grounds here. They sat all the while and did not make any new investment, they were contented with vague estimated billings and refused to invest in card meters until lately forced to do so. They were contented with cheap revenue from LPUs.

Do you know that part of the Disco license enabled them to have embeded Gencos? A Disco can partner with a small power-plant, produce private power and the Disco can sell directly? I would have tot this is what the Discos should have extended to LPUs and sell the power from the Gencos to use end-customers. I am not sure if any Disco executed that option.This is what the govt has taken from their hands and given to Gencos.....unfortunately!

InwehAkpevwe:
So no more TCN? Is this feasible at all? Thats what u get when a Barr. Heads and Engineering ministry. Na im b say dem go need dia own grid, transmisn lines nd transformers.

You ask question that are at best pedestrian and worse still made baseless conclusions. The better thing for you to have done is to seek understanding and clarifications not make ridiculous interpretations

Well I can understand your plight. For someone who views Ministry of Power as an "Engineering" Ministry........worse still when the issue in discussion has virtually little to do with "engineering"......

spawnx:
The Discos manage maintenance issues on a disco route, so if you choose to buy power from Genco who manages faults.

Obviously GENCOs and they will have supplies via private grids and not Disco route

Ajibel:
This is a brilliant move. I hope all they grey areas have been ironed out because cases might arise that the discos might want to challenge this decision in court due to the reduction of their customer base.

Hopefully, this would bring about an improvement in power supply in the long run and a reduction in load rejection.

This is all good but it also looks like a banana peel to me.

1. Gencos are now incentivised to take LPUs clusters as their "serious" customers and Discos will be relegated to the background. LPUs will be disposed to exploit this option as it will give them cost advantage on power consumption
2. Gencos are also aware that with LPUs their revenues will be collected will less hassels as such be more disposed to give them power
3. Like you rightly said, the prime customers of Discos have just been lost and they will not go down without a fight. I fear that our judges wo are oriented to interprete "facts of the case" might come out with judgement that will set us back
4. We need to brace ourselves for the after effect of the not-well-thought-out and badly executed privatization of the power sector

Kingstel:

Wherever we buy from does not matter now, but for it to be stable.

Are you a Large Power Users (LPU)? or did you even read the piece at all?

chuckdee4:
So true but do you trust this government to do that?
Norway (Or one of those Scandinavian countries) has been saving their proceeds from oil for a very long time and now have over a Trillion dollars saved up in their reserves (This is where we should have been). Countries like that don't worry about the future of oil prices because they have secured their future and that of the next few generations with their decision making

Well, if they have demonstrated the capacity to begin to grow our foreign reserves again, why not. Which govt were you thinking? OBJ did it, Yar'Adua did it as with the current govt. It is irrelevant whom I "trust", it is the committment and actions to do it that counts. We need to build our reserves and infrastructure with peak oil funds.

The bolded part up here is exactly my drift

Standing5:
So says a mental wreck.
You flaws of past admin shouldn't be used as an excuse by the current adming to perpetrate more evil.

I was wondering how you suddenly become interested in engaging in a debate with rational people. Unfortunately you can and should stand by the side and watch, as this is beyond your reasoning capacity

Standing5:
It is a only mental case like you that will prioritize refining of crude that's been proven to exist below gambling to discover new crude reserves.
How many prospecting did the nation do to get crude in Oloibiri? I don't know what you are taking - coke, weed, bribe, or salary - for you to profer that instead of maximizing what we have we should sell it cheap and use it to gamble for more. Parasitic thinking of mental wreck.

This is dumbness written all over your submission. Let me cleanse your dumbness with some simple education (google)

1. Did you ask "How many prospecting did the nation do to get crude in Oloibiri?"

Exploration history
Oloibiri Oilfield was discovered on Sunday 15 January 1956 by Shell Darcy. It was the first commercial oil discovery in Nigeria; this discovery ended 50 years of unsuccessful oil exploration in the country by various international oil companies and launched Nigeria into the limelight of the Petro-State.
https://en.wikipedia.org/wiki/Oloibiri_Oilfield

2. Maximising what you have? So you think oil comes from an inexhaustible source? don't worry I was not expecting basic reasoning from you.......

chronique:
Hisses. I really don't understand how people tend to do stupid things and still intend to get away with them, and be given a pat on the back for acting foolishly.

Many people don't understand that they are part of their company brand and that their conduct affects the company. In the US, they have little tolerance for misbehaviour like these.

chuckdee4:
If the government know what is good for them, they should start preparing for a life where oil is no longer as valuable as.
Car companies are going down the electric car route and with mandates in several European countries on switching to cleaner cars, the demand for oil and petroleum products will drop.

If Nigeria does not get ready for this inevitable future we will be in BIG shit

Agreed.

But before then, first step is to now SELL AS MUCH OIL AS WE CAN, as pump the money into infrastructural development, SME development, tourism etc

dotdauda:

stephany007: :
But Buhari has not paid salaries till now. Too bad sha

Which salary ? Maybe u have been reading the back of the news .
Even those owed by ur hero have been paid & states also relieved

Bros,

You need to understand him. He is restating the excuse the "master" he serves tells him as reasons for owing him - "Buhari has not paid salaries till now". Worse still he has not processed it

fearless2014:
Then Amaechi is a confirmed crook like his fellow zombies like you that he is leading.

meth talking!

fearless2014:
Changes nothing, junkie.

absolutely dummy

Standing5:
Don't infect me with your zombie bug sir. Have we refined the one gotten from ND to maximize its value ? NO.
You are here talking nonsense about wasting more funds all in the name of exploring basins.
Go sort yourself with that poster you with whom contradicted yourself while posting zombie stuff. I might be out of Nairaland but not out of touch.

You are either in denial or damn too stu.pid to respond to my direct question. Let me take it further, So what happens when the so called oil from your famed ND expires? Do you even know the oil business ? Oh! I see! you're just another "rat" that looks for freebies?

Unfortunately, I had imagined you were beyond the sub-par reasoning capacity zone.....but my bad! I'm sorry I mistook you for someone else

INTEGRITYA1:
That's good one, with the current trend in price increase; it will be better if Apc lead government can utilize the opportunities by channeling the resources towards stabilizing the Economy, this is a plus to us because 2017 budget was benchmark at $38 per barrel. With this APC should stop the blame game and brace up to tackle current economic hardship.

1. How did we get here in the first place? If the previous govt had understood (or so I imagine) that they needed to be responsible enough to continue building our foreign reserves (which is the "shock absorber" to effects of economic down-turn) rather than recklessly deplete it, we would not have found ourselves in this mess

2. That the Oil price is going up does not necessarily mean we should start to celebrate. We need to among other initiatives, continue build our foreign reserve month-on-month. That is critical to stabilise the forex, force it down and gradually impact the economy. There is no free money anywhere. ECA should be emptied into the SWF and should either be used for infrastructure development or committed to exports

fearless2014:
Takes a junkie to know one, a secret intention that is still concealed three weeks to commencement date..ha!ha!!

Calling you an imbec.ile is an insult to the unfortunate ones in that cadre of life.

Now this is progress. I can now put your submissions in perspective going forward, mindful that it's the meth.....

fearless2014:
PH should start with cosmopolitan roads first before they can be intergrated with rails, and rails not the useless type Amaechi tried to swindle Rivers people with.

PH should do whatever it likes......It is not a crime to take a back-foot in development