With all due respect, even if a board needs to be constituted (which is a matter I do not intend discussing to avoid derailing this thread  ), are there no young individuals with the right skills and experience to do this job? Why bring a septuagenarian?   Dr Kolade will turn 80 this year, surely he should take a bow.

If you say it is mis leading show us proofs with pictures and explain why we should believe it is a recent pictures

Was there a riot in Kaduna city? NO.  That is misleading! End of!!!

Mods, please take this off the front page.  It is an alarmist story and misleading!

Simply put, the "subsidy" has to go and the money "saved" put to some specific good to society. While this may be a grand idea, it can't happen just yet!

For starters, we must refine our own crude within the country.  That way, we won't depend on imports, and the cartel will be cut off. When this is achieved, whatever it costs to extract and refine the crude, plus a mark-up (for profitability) can be transferred to the masses.  Apart from the jobs this would create and improvement in knowledge transfer, just think about the enormous amount of road building asphalt / other by-products we can get!

It is counter-intuitive to think that demanding for refineries to be built / repaired will not help in stemming this costly practice of importing what we can make in-country. The big question is: can the government get rid of these thieving saboteurs?

This subsidy saga is intriguing as it is annoying.  It goes without saying that extracting "goo" and refining it isn't rocket science.  What is baffling is the extra mile we as a nation can't go to get this into finished products that are in high demand globally.  As if it wasn't insulting enough that we can't refine to meet our needs, talk more of exporting, it was reported that our very same government was planning to invest NIGERIAN money in refineries abroad.     

http://www.vanguardngr.com/2011/10/nigeria-to-invest-n428-8bn-2-68bn-in-3-refineries-in-indonesia

One begins to wonder if the "ring-fenced" Sovereign Wealth Fund will be protected from such waste.  We do not need to set up committees to discuss the effect of the subsidy removal on the disposable income of the average Joe on the street - he simply wouldn't have one.  Oops, that's been done already!  And would the members of this "management committee" be paid? Where from? 

As some posters have clearly stated, until our refineries are working / more are built, and those benefitting from the importation of petroleum products cut off, government should not tinker with the subsidy removal.

Another farce, comments credited to this same minister only 3 months ago revealed that Ajaokuta would not commence production soon.  The legal tussle surrounding its sale by the BPE aside, ASCL needs raw materials from the mines in Itakpe - a company that isn't even working at the moment. Considering the safety implications in mining, running a blast furnace and keeping the steel making process going, they are nowhere near ready!

The acquisition is structured such that it may be mutually beneficial to both companies. Oando will inject capital into Exile by way of purchasing a 75% stake in their current 40% holding of the Akepo field. Exile will focus on the development of its upstream assets after this. When the restructuring is complete, Oando's GCEO (Jubril Wale Tinubu) will become the Chairman of the Exile board.

More details on http://www.exileresources.com/press_pdf/2011-07.pdf