₦airaland Forum

Jalobe:
You are informed. High cost of petroleum products including diesel is worldwide. Stop the political nonesense. It has nothing to do with Buhari.

So the lack of electricity supply is also world wide?

Insecurity is also world wide?

Triple digit inflation is also world wide ?

Admit it !! Buhari has wrecked this country

SarkinYarki:
So the lack of electricity supply is also world wide?

Insecurity is also world wide?

Triple digit inflation is also world wide ?

Admit it !! Buhari has wrecked this country

Buhari isn't to blame for diesel but Buhari is to blame for power failures.TCN is not buying gas again to power the generating plants because of the removal of subsidies on electricity and now the bitter truth is,the light will never be okay again,only if the next government return the subsidies
You guys should go and get a very good generator

helinues:
Nigeria Elon Musk don come again oo

So Buhari is responsible for the crisis between Ukraine and Russia that sanctions is having it's effect on world economy?

You warned who?

SHUT UP!!!

YOU ARE AN IGNORANT BOY

So easy to say.. It's like your neighbour saying "see this man, he doesn't have a child, see his fine wife, if it was me ehn! I would have handled her she'll give birth to triplet"
News was there, you didn't read, you read headlines and have suddenly become an analyst.
Go and read about crude oil theft and find back to tell me if it is the same with what you were thinking. You think oil theft is people stealing tankers of oil abi? So you can continue to blame the same govt that changes every 4 years, 8 years max for what people like you and I take pride in doing.
I'll give you a bit of understanding to oil theft... Shell for example, has an input pipeline that should deliver 1million barrels of oil... But all they get is about 120,000... What has happened?
People like you and I bursting pipelines to siphon oil and divert to illegal refining.
When your president was hard on them, we cried that he's being wicked and insensitive to the plight of the N.D people.

It's easy to say you'll stop oil theft decisively when you're not close to the seat of power.

jesmond3945:
yes blame buhari. The same usa is going to supply 15bn worth of gas to eu, where is Nigeria in this whole game. NNPC cannot account for 100m barrels of crude due to theft and the nnpc gmd is still in office. Nothing has been done to stem the tide. Investors fleeing the country. Nobody wants to invest in Nigeria when you cannot compete with dangote. Even in the telecom sector, only 4 providers. In the TV sector, we have only dstv. Everybody wants to drill oil and sell. Everybody wants to steal govt money. No leadership whatsoever. All his travels,he has achieved nothing with it. If i was president. I would strike deal with russia and buy diesel from them. India did with, why cant we do it. It is even cheaper to buy from them. I will work hard to stop oil theft because we just lost 3 billion dollars from it.

PaedophileProph:
yet nobody is protesting in a country blessed with abundant crude. Let it be Johnathan or a man from South, everyone will remember their Hero caps

The same people will vote that old man coming out to campeign. Nigeria has no remedy.

helinues:
Nigeria Elon Musk don come again oo

So Buhari is responsible for the crisis between Ukraine and Russia that sanctions is having it's effect on world economy?

You warned who?

Where in his comment did he mention Ukraine/Russia crisis? Did the fuel crisis in Nigeria not start before Russia invaded Ukraine?

27Pushing30:
Buhari caused Russia Ukraine crisis? Wow

SHUT UP!!!

SENSELESS TALK

27Pushing30:
Buhari caused Russia Ukraine crisis? Wow

Mr man shut up that was a prediction against his regime and it came to pass buhari is the punishment of our sin

helinues:
Nigeria Elon Musk don come again oo

So Buhari is responsible for the crisis between Ukraine and Russia that sanctions is having it's effect on world economy?

You warned who?

Oponu ni e

tekjansen2:
At the end of the day, the issue is power supply

And yes, Buhari is a failure, but the real reason why we don't have power supply is because we do not fund the power sector adequately by paying them the tarrifs that would ensure they work well.

Below is a page from an independent report on the power sector....

I don't believe in d funds issue u just talk nigeria can get funds after they got fund to do rail to niger na
How many years now we been hearing d same stories
Buhari said he was going to fix petrol section and power so he should be held accountable
Imagine if der was enough power who need fuel for production even staying at home
Everything in d country revolves round d petroleum sector
EU can't be dictating d way we run our economy is very wrong that why they killed Gaddafi because he did agree with der ideology
For paper or report all Na wash
Let it right pls

neonly:
I don't believe in d funds issue u just talk nigeria can get funds after they got fund to do rail to niger na
How many years now we been hearing d same stories
Buhari said he was going to fix petrol section and power so he should be held accountable
Imagine if der was enough power who need fuel for production even staying at home
Everything in d country revolves round d petroleum sector
EU can't be dictating d way we run our economy is very wrong that why they killed Gaddafi because he did agree with der ideology
For paper or report all Na wash
Let it right pls

At the end it is funding.

As much as we want to deny it, Nigeria does not have power because we don't want to pay the money needed to ger 24 hour power.

I hate it, but it is what it is

tekjansen2:
So, should domestic producers of crude keep crude prices down 'to help poor Nigerians'?

Would you reduce prices of what you sell, assuming you are a businessman 'to help poor Nigerians'

And does my accepting the reality of capitalism mean that I am suddenly a Buhari supporter?

Swerve please. Many countries that produce crude sell it at a high price. Unless you want diesel to be subsidised again...something that ended in 2013...and something that if reinstated would drive us into more debt.

Are you well? You want to argue about something you know nothing about. Who owns the refineries before you start talking about capitalism, I hope you know your usage of capitalism for a government owned asset(refinery) is out of place. A sensible government will produce excess refined products, enough for local consumption and make profits from exports. When you have raw materials readily available, that has solved 80% production cost. Capitalism will only apply to say dangote refinery and not refineries built from tax payers money

I agree the govt. need to step in. In the UK, it's the "local govt" that is doing the refund since that's where people pay the council tax to in the first place.
If you were govt. What will you do?
Take these factors in play
1. Percentage of working class Nigerians that pay tax PAYE is? Who collects majority of the PAYE?
2. The govt. already subsidises petrol (diesel was deregulated a while back)
3. What other ways are people taxed DIRECTLY? That can be paid back directly to the people?
4. Do we really have a true public record?

Resurgent2016:
You are missing the point. The source of the fund doesn't matter, it's the principle that the government realised it had to step in to cushion the deleterious impact on business and vulnerable individuals. Gov providing tax rebate is as good as government providing the funds directly because all government funds come from either tax or other levies collections or external funding e.g loans.

Even if you attempt to tie the support to the source of funds, the bulk of Nigeria's tax receipt (oil & no-oil) comes from the formal sector. What support has the government offered knowing that these companies are increasingly dependent on diesel generators in the face of a faltering power grid that went offline for several days of lates.

Nigeria needs a responsible government!!

You've forgotten 2 things.

1. The oil being drilled is not free... It is sold as it leaves the jetty to fulfil long term contracts. These businesses that own OMLs are not charity businesses and the crude is sold to continue to recoup their cost used to buy that oil minining area. Its quite easy to say things when you're on the outside... Like no one EVER thought about what you are thinking about.

2. NIGERIA is part of OPEC, we have a restricted output, moreover over mines its oil capacity and stores the excess... Every govt buys their fuel storage from the oil companies... Everything is paid for... Nothing is free because it grows in your backyard.

macaranta:
Are you well? You want to argue about something you know nothing about. Who owns the refineries before you start talking about capitalism, I hope you know your usage of capitalism for a government owned asset(refinery) is out of place. A sensible government will produce excess refined products, enough for local consumption and make profits from exports. When you have raw materials readily available, that has solved 80% production cost. Capitalism will only apply to say dangote refinery and not refineries built from tax payers money

macaranta:
Are you well?

Calm down, good sir.

You want to argue about something you know nothing about. Who owns the refineries before you start talking about capitalism, I hope you know your usage of capitalism for a government owned asset(refinery) is out of place. A sensible government will produce excess refined products, enough for local consumption and make profits from exports. When you have raw materials readily available, that has solved 80% production cost. Capitalism will only apply to say dangote refinery and not refineries built from tax payers money

And at the end of the day, the crude and everything used to give diesel has to be paid for at the market price.

Or would you do your work for free so that poor people can enjoy your services because that's what you are arguing for.

SarkinYarki:
We warned and warned y'all that Buhari will take Nigeria back 30 years but people callled us wailers then

guy becareful, 30 years ago, we were far better than this. Buhari turned naija to hell on Earth.

luizpippo:
You mean even if we are to just move the cruise from Bayelsa waters to PH or Warri refinery, cost of diesel would have still been this high?


So there won't have been any difference even without the importation cost and all sundries?

The guy just dey cap rubbish
There is no way local indigenous oil production and refining would be more expensive than foreign importation
Why does Russia brag with its energy resources (oil/gas)
She is super self sufficient!

1Hover1:
So easy to say.. It's like your neighbour saying "see this man, he doesn't have a child, see his fine wife, if it was me ehn! I would have handled her shell give birth to triplet.
News was there, you didn't read, you read headlines and have suddenly become an analyst.
Go and read about crude oil theft and find back to tell me if it is the same with what you were thinking. You think oil theft is people streaming tablets or oil Abi? So you can continue to blame the same govt that changes every 4 years, 8 years max.
I'll give you a bit of understanding to oil theft... Shell for example has an input pipeline that should deliver 1million barrels of oil... But all they get is about 120... What has happened?
People like you and I bursting pipelines to siphon oil and divert to illegal refining.
When your president was hard on them, we cried that he's being wicked and insensitive to the plight of the N.D people...

It's easy to say you'll stop oil theft decisively when you're not close to the seat of power.

let him sack nnpc gmd first and give to somebody competent to tackle the issue or he buhari resign. He is the president, he has the powers. Land air waters he alone controls. stop absolving him of blame. You are short changing yourself for doing that. Let him bring his might to stop oil bunkering.

Jalobe:
You are informed. High cost of petroleum products including diesel is worldwide. Stop the political nonesense. It has nothing to do with Buhari.

is not buhari's fault. However, he has done nothing to cushion or help the situation. Cant we strike deal with russia to buy discounted diesel? What of our store house of diesel

helinues:
Nigeria Elon Musk don come again oo

So Buhari is responsible for the crisis between Ukraine and Russia that sanctions is having it's effect on world economy?

You warned who?

How much was diesel before the war started?

1Hover1:
You've forgotten 2 things.

1. The oil being drilled is not free... It is sold as it leaves the jetty to fulfil long term contracts. These businesses that own OMLs are not charity businesses and the crude is sold to continue to recoup their cost used to buy that oil minining area. Its quite easy to say things when you're on the outside... Like no one EVER thought about what you are thinking about.

2. NIGERIA is part of OPEC, we have a restricted output, moreover over mines its oil capacity and stores the excess... Every govt buys their fuel storage from the oil companies... Everything is paid for... Nothing is free because it grows in your backyard.

Bro, I am a mechanical engineer that have worked in the oil and gas industry so I know what I'm talking about.

The point you referenced in one above is, I assume under futures contract of which Nigeria is already benefiting. A futures contract will sell crude to a destination country at a fixed cost for a long period of time e.g 20years before it is reviewed. Nnpc is a jv in almost all the omls, they retain a large percentage which is for regulatory and monitoring purposes, not everything drilled must be sold. It's that simple.

Your point Opec regulations refers to exports not local consumption restrictions. You are capped at exportation so as to regulate price not that it's to starve the local market or the necessary raw materials for their own refineries.

Diesel and pms is sold at a fair rate already, no Nigerian has ever demanded that it should be free so I don't know what the other dude is on about "poor people". Most poor people don't even have need for diesel, just petrol.

tekjansen2:
Calm down, good sir.




And at the end of the day, the crude and everything used to give diesel has to be paid for at the market price.

Or would you do your work for free so that poor people can enjoy your services because that's what you are arguing for.

You keep mixing things up, no one said such refined products should be free. What we are saying is, the hyperinflation on refined products should not have affected the Nigerian market if we have efficient refining capabilities. We have crude oil already refining it shouldn't be rocket science. Do you also know that Nigeria can invest in a floating refinery to cut cost of crude transportation to inland refineries? See attached.

With $5bn we can get a medium one and ramp up our refining capability. Let's stop defending mediocrity if we truly want to grow as a nation.

macaranta:
You keep mixing things up, no one said such refined products should be free. What we are saying is, the hyperinflation on refined products should not have affected the Nigerian market if we have efficient refining capabilities. We have crude oil already refining it shouldn't be rocket science. Do you also know that Nigeria can invest in a floating refinery to cut cost of crude transportation to inland refineries? See attached.

With $5bn we can get a medium one and ramp up our refining capability. Let's stop defending mediocrity if we truly want to grow as a nation.

1.At the end , what you are saying is that diesel should be dirt cheap if we refined it at home. While it won't be as high as it is now, it won't be cheap. Unless you want the people bringing out crude oil from the ground to do it at cheap prices.

2.We don't have domestic refining capability because Nigerians and their government have, through the institution of subsidy, made it difficult to refine crude oil profitably in this country. Subsidises means that any fuel refined at home would be sold below its production cost and the refineries would be paid a 'subsidy' that won't cover the cost.

And it is the money that we would have spent on refineries that we spend on subsidy.

That's the problem.

(P.S And it does not mean I support Buhari. This is an issue that predates this regime by decades.).


Note: If you want to build a floating refinery, then allow the petroleum sector to make a profit by removing subsides on petrol, and allowing the market to set the price on every refined product, so that they can make enough money to invest in and attract investment to, such things like your floating refinery, and government won't even need to spend a dime.

27Pushing30:
Buhari caused Russia Ukraine crisis? Wow

Russia and Ukraine crisis cost PMS price to rise from N97 in 2014 to N200 in 2022?

helinues:
Nigeria Elon Musk don come again oo

So Buhari is responsible for the crisis between Ukraine and Russia that sanctions is having it's effect on world economy?

You warned who?

Russia and Ukraine crisis caused PMS price to rise from N97 in 2014 to N200 in 2022, the crisis also cause bag of rice to sell for N30k and bag of beans almost N80k, Russia and Ukraine also cause ASUU strike too

kernniejay:
Russia and Ukraine crisis caused PMS price to rise from N65 in 2014 to N200 in 2022, the crisis also cause bag of rice to sell for N30k and bag of beans almost N80k, Russia and Ukraine also cause ASUU strike too

PMS was not N65 in 2014, it was N97, soon to be reduced to N87. It was N65 last in 2012 January, when it was raised to N140, and then cut to N97 after anti-subsidy removal protests that year.

27Pushing30:
Buhari caused Russia Ukraine crisis? Wow

na Ukraine War make them supply dirty petrol I guess

tekjansen2:
PMS was not N65 in 2014, it was N97, soon to be reduced to N87. It was N65 last in 2012 January, when it was raised to N140, and then cut to N97 after anti-subsidy removal protests that year.

Thank you. Modified.

suffering:
Good. This will leave many Nairalanders in ignorance. A situation which was the norm to begin with.

Which useless norm?

I was surprised when SME radio Abu wetin be their name stopped broadcasting by 9pm... Noticed it for the first time this week

Even raypower stopped broadcasting all night long

edoairways:
Which useless norm?

99.9% of Nairalanders are ignorant. If these children read books as much as they typed rubbish, this forum would long become a resource for knowledge.

Buhari has destroyed this country... nawaoooo