IamNumeroUno:


I'm very sure you have not been following this story from when it broke.
The government is not "fixing" the refinery to use, NO, they want to repair it at $1.5 billion dollars and then sell it. That's what we all are angry about. Why spend money to repair the dead metals before sale?

Why not keep the money, sell the scrap for whatever amount you can sell and add to this amount you want to spend, then use it to start a.new one? Haven't you heard about the the bird in hand worth millions in the bush? Knowing the kind of country we have, the contractors would most definitely abandon the project, after the $1.5 billion dollars have been appropriated. Isn't that waste of resources?

Please don't start me with that subsidy stuff. I remember back in 2012 when the previous government, advised by the current WTO Chairman wanted to remove subsidy, Buhari said there is nothing called subsidy. The videos are out there for everyone to see. Therefore, you can't claim to be removing what doesn't exist

Heck, even if subsidy did exist, how do you hope to further impoverished the common man when all politicians get fuel for free? How can the common man benefit from the corruption going on?

In Buhari's word, "anybody that tells you that he is removing subsidy, it is praud, nothing like subsidy"

DjAduba:
If they dont do a reasonable job this time I will give up on Nigeria totally. Good luck.

Alejoas:
This country is a sorry case, the people were not in support or this yet it pulled through. Look at how happy the oyinbo boy was over a serious matter? It feels more like an award 'well deserved' than contracts signing. I have ten to twenty four hours guaranteed external battery for your laptop. Do you need one? This contract is a win - win scenario for all those involved, but sadly the Nigerian people will only hang on to hope. Our leaders are not worthy of our trust, i can still remember Osinbajo talk about modular refinery during the campaigns

Alejoas:
This country is a sorry case, the people were not in support or this yet it pulled through. Look at how happy the oyinbo boy was over a serious matter? It feels more like an award 'well deserved' than contracts signing. I have ten to twenty four hours guaranteed external battery for your laptop. Do you need one? This contract is a win - win scenario for all those involved, but sadly the Nigerian people will only hang on to hope. Our leaders are not worthy of our trust, i can still remember Osinbajo talk about modular refinery during the campaigns

MALAGI6210:

prophet of Bad vission u dey ever see good in ur prophecy

Neutralobserver:


Well, presumably it is better to sell a functional refinery, rather than a non-functional one.


Who will buy the scrap? Would you?



Buhari said there was no subsidy because he did not understand how a subsidy worked, plus he was playing poltics.(And since i had some understanding of how a subsidy worked at the time, I did not believe his comment )

Basically, a subsidy works in this way....we sell fuel below the cost of its production per liter...and pay a subsidy...the difference between what it costs to produce fuel, and what we sell it at, ...to the market. In priniciple...since the subsidy was introduced in the late 1980's...this meant that refinereis could not operate at a profit...which led to them not having enough cash over the years to be maintained properly....and that is why they are a mess now..



Well, all our neighbouring African countries, including the oil produicers, pay above n300 per liter of fuel at the pump...meaning that cuntries like Niger are able to keep their refinery running to the point where they can export...because they make enough of a profit to keep it running.

Petrol is expensive. And before you abuse me....I don';t like the fact it is expensive. But thanks to decades of keeping prices of petrol artifically low...we have bad refineries, we spend more money subsidising fuel than we do on educaiton and health, and we also lose billions to smuglling of our cheap fuel to all our neighbours...right now we are subsidsing fuel for other african countires. Removing subsidy will end that problem...and give us functional refineries.

See Venezuela. That country sells fuel at N40 per liter...and they lose 18 billion dollars annually to smuggling.



And you believed him? You believed the word of a school cert holder who did not know what he was talking about? Sigh.

Neutralobserver:


Isn't it more of a waste to keep a non-functional refinery non-functional?

Neutralobserver:


Would you buy a broken down refinery , which you would have to spend money to fix again...on top of the money you spent buying it?

That's the problem

IamNumeroUno:


Let me begin from your submission and last paragraph.

Ever heard the saying " you can't build something on nothing?"
If you advise me not to believe "the word of a school cert holder who did not know what he was talking about", how then do you expect me to believe him now that he wants to remove the same subsidy he never knew existed? Isn't that foolishness, stupidity and double standards? If I can't trust an aspiring president at the time, who had consistently contested for president from the 2000s, one who had been the head of state in the 1980s where, as you mentioned, subsidy was introduced and had been PTF Chairman under Abacha to know about subsidy, how do you expect me to trust him now to successfully remove subsidy? You can't build something on nothing my friend.

Venezuela "smuggle" fuel because of the sanctions placed against them by the US. The US punishes anybody that legally buys fuel from them. Heard the case of Saad arrested in Cape Verde? So, never compare Venezuela's case with Nigeria.

You talked about wasting money that was supposed to be used for education and the rest on subsidy. The money appropriated to the various ministries are they being accounted for?

n the last five years, the Aso Rock clinic alone has received N10 billion, more than all teaching hospitals in the country combined, Google it, the facts are there. Yet, the president is currently in London for "check-ups". N10b could not fix a standard hospital for the president to use. I believe that removal of subsidy is the best thing to do, I and many other Nigerians don't just trust Buhari and his 40 thieves to do it.

When you say "all our neighbouring countries, including the oil producing countries pay above n300 for fuel" what do you mean by that?

Nigeria is the largest oil producing country in Africa, with an average of 1.9 million barrels per day.

Nigeria is followed by Angola. A litre of fuel in Angola is 160 AOA, that's equivalent to N96.83.

Followed by Algeria. A litre of fuel in Algeria is 45 dinar, equivalent to N132.

Did you see that, though Nigeria produces even more than the rest, our current price is still higher?

The other African countries you mentioned have no oil. The Niger you mentioned produces only 13,000 barrels per day as against Nigeria's 1.9 million barrels.

In economics, when the supply is high, the price goes down. Nigeria supplies the highest in African, yet, sell the most expensive among all oil producing countries in Africa.
What are you even saying bros

And yes, people had started bidding for the "scrap" to buy before this scam of repairs was introduced.

oilking:
Hmm
Cash out
Cash NNPC
Them don pin their clients (nigerians)

Superboss:


Ppl buy scrap, bro.
Companies buy scrap too.

CSTRR:

No.

Sell the parts for scraps and send everybody home.

Invest the money into something else.