Funkyswagzz:


Tinubu said it's going to start working this December so I don't see any reason you should complain

....are you sure that tinubu is saying the truth ?

valentineuwakwe:
Why would they be sold off? The legit question you should be asking is if the N10trn was well spent on the refineries or it went to private pockets who sabotage the efforts of the Nigerian government!

..you should know in the government sector there is always corruption going on...so some government officials, NNPC top executive staffs would divert the money to their bank accounts and enrich themselves

Dshocker:
And the hard question is; Who is going to buy it?

Most foreign investors are afraid of investing in Nigeria, due to high rate of terrorism, banditry, kidnappers and other stupid policies of the government, where investor's funds are trapped with the issues of FX, aside that, another government that comes in, might frustrate you.

..the wealthy and rich nigeria billionaires in the private sector can buy it and operate it

That N10 trillion is enough to build another refinery.

Go to Niger Delta and other regions where individual have a refinery you called illegal.

Stupid people.

.

Once again Obasanjo wins. He remains the best President in history of Nigeria. The worst is between Tinubu and Yar'Adua.

nairalanda1:




Yeah, yeah.

Whatever rocks your boat.

I didn't order you to agree with me.

I'm not asking you to agree with me either
What I'm showing you are facts
Even if you want to take a position, do so based on facts not lies

Kukutente23:

I'm not asking you to agree with me either
What I'm showing you are facts
Even if you want to take a position, do so based on facts not lies

Yeah, whatever rocks your car.

nairalanda1:


Yeah, whatever rocks your car.

Pfft

nairalanda1:
Bad effect of subsidy. You sell petrol at a loss, you sell refined product at a loss, you pay a subsidy that does not cover the loss, and provides opportunity for stealing and looting and so on, and at the end, refinery go break down.

If there was no subsidy on petrol, the refineries would work, because damaging /sabotaging them would have made it difficult for them to make a profit. That is why Niger, Ghana and company have working refienries, because all the products of the refineries are sold at a profit. Subsidy on the other hand provides tonnes of opporutinity for looting. Like the one described above.

But in Nigeria, we kept subsidy on petrol (and until 2015 subsidy on diesel, kerosene, etc). Naturally, the only way to get money is by sabotage of the refinereis, meanwhile, because subsidy hinders profit making, the refineries won't work. (and since money is coming in under subsidy whether the refinery works or not, that even provides more opportunity for stealing).

I know people like to abuse me and to call me names for supporting subsidy removal (which I did since 2011) and I know that people would suffer if subsidy went completely.(Like now, fuel would be over N900) But we kept subsidy for over 40 years, and as a result the refineres are not working well. Venezuela has subsidy, and their refining capacity has completely gone kaput. They can't even supply Cuba with free fuel anymore...all because of thinking that fuel can be cheap.

Before you quote me to comment, would you allow government to subsidse the products you make and sell if you were a businessman? I think we know the answer.

There is no subsidy on GSM, no subsidy on hotel fees, no subsidy on foodstuff. Naturally, there is no scarcity and problematic issues there.



Things cost money. Sell at a profit, earn enough to fix things, and everything would be ok.

Mumu!
The money wey Dem waste for your head take send you go school, Dem for just dash Almajiris!

Kukutente23:


1. It's a lie. Subsidy did not kill refineries. Refineries were killed by govt bureaucracy instituted by IBB govt

2. Subsidy was removed on kerosene and diesel in 2010 not 2015. Diesel today is 1000 per liter. There's also a lot of adulterated diesel in the Nigerian market. Why have these problems not disappeared?

3. No subsidy on foodstuffs but foodstuffs are super expensive and seasonal with periods of scarcity like we have for rice presently and maize during dry season.

4. If I'm a businessman and govt wants to subsidise my products, I will have no problem with that. That's because the cost of subsidy covers production cost and even leaves room for profit.

5. Stop lying

Thank you very much jare!
Waa gbayi!

Even DANGOTE brand new refinery no cost reach 10tr naira

ufotunang:
.... federal government so far has spent 10 trillion naira to restore and bring them back...but cannot bring the refineries back till now with 10 trillion naira spent so far... because of corruption and government officials diverting some of the 10 trillion naira to their bank accounts to enrich themselves...so the more money is pumped into the refinery by federal government the more the government officials will divert the money to their bank accounts and enrich themselves

Port Harcourt and warri refinery are under rehabilitation

Oyedele was right. In this vast capitalist knowledge economy, those refineries equipment are most likely obsolete and may not fit for this time. They are better sold as scrap. if care is not taken, Dangote refinery may find itself in this shoe too. Equipment manufacturers are making new equipment so as to make new money.

EmmyDJourno:


Born slave, born fool like you, waste of school fees paid by your parents, coz a cow thinks better than you😅

I no go school... oya cry again... mumu ... go buy am na

pocom16:

Port Harcourt and warri refinery are under rehabilitation

..and are you sure those refineries will work...?... since 1999 till now they have been on rehabilitation...more than 20 years on rehabilitation but not working

ufotunang:
..the wealthy and rich nigeria billionaires in the private sector can buy it and operate it

"A wealthy and rich billionaire".... Dude, you are funny.

Whom were you expecting to buy it before, a millionaire or thousanaire?

Of course, you have to be a fVcking billionaire to buy the refinery.

Each of them is valued above $5b.

This is the best decision. OBJ did it and it was reversed by Yar’dua

Dshocker:


"A wealthy and rich billionaire".... Dude, you are funny.

Whom were you expecting to buy it before, a millionaire or thousanaire?

Of course, you have to be a fVcking billionaire to buy the refinery.

Each of them is valued above $5b.

...ok during Obansanjo administration... Obansanjo sold refinery to Dangote and Otedola at 2006 to operate and run them...but Musa yaradua at 2007 cancelled the sell of the refinery... refund Dangote and Otedola their money and Musa yaradua said he the federal government will repair the refineries... Musa yaradua spent billions of naira to repair the refinery but the refinery could not work ..because of the government officials diverting the money to their Bank account to enrich themselves

princeade86:
Nigeria government are bunch of thieves. They trying to dodge Dec deadline. They bringing excuses. Obj was right when he said the thing can't work.

OBJ is wrong. All four refineries can work, they just can't work if Nigerians are in charge of them. Nigerians are too destructive and incompetent. privatise part of the refineries with a non-Nigerian management team and you will see the different.

... question is to whom...?!
To Nollywood...to start better action movies.....tired of same big mass mas showing off lazisexy.....

ufotunang:
...ok during Obansanjo administration... Obansanjo sold refinery to Dangote and Otedola at 2006 to operate and run them...but Musa yaradua at 2007 cancelled the sell of the refinery... refund Dangote and Otedola their money and Musa yaradua said he the federal government will repair the refineries... Musa yaradua spent billions of naira to repair the refinery but the refinery could not work ..because of the government officials diverting the money to their Bank account to enrich themselves

The primary reason why I still hate Yar’dua’s govt. He cancelled the sale and pumped $bns in repairing it and it didnt work.
Subsequent govts pumped $bns, gave Dangote $bns in FX… and NNPC stilll invested $4bn in his new refinery.

FOJEM:

Mumu!
The money wey Dem waste for your head take send you go school, Dem for just dash Almajiris!

If it makes you feel better.

ufotunang:
..and are you sure those refineries will work...?... since 1999 till now they have been on rehabilitation...more than 20 years on rehabilitation but not working

PH refinery will work.. all those years what was being done was TAM or regular maintenance ..the previous administration devised another way to bring it back to life..

the same contractors that built it are the ones repairing it now..

Smh

Its 10trillion naira shared among them, not spent on the refinery. The monies were taken out for the refineries but shared among all the corrupt people involved.

may GOD ALMIGHTY PUNISH all those who chop from that 10trll turnaround money and turn their necks.

PARADIZEPRIEST:
may GOD ALMIGHTY PUNISH all those who chop from that 10trll turnaround money and turn their necks IFSHA.

NAIJA NO GET REFINERIES,ALL THOSE OBSOLETE 1920 MACHINES THEY ARE USING TO CHOP OUR MONEY SHOULD BE DEMOLISHED AND SOLD AS SCRAPS.
GET US MODERN REFINERIES FROM USA TECHNOLOGIES.ALL THE BILLIONS YOU BORROW FOR 23YEARS WOULD HAVE SAVE NAIJA MONEY IF WE HAD 2 STANDARD BLUETOOTH REFINERIES

sulaak:


OBJ is wrong. All four refineries can work, they just can't work if Nigerians are in charge of them. Nigerians are too destructive and incompetent. privatise part of the refineries with a non-Nigerian management team and you will see the different.

but when atiku said he will privatize everything, they called him all sort of names

Majority of them are hypocrites...

EmmyDJourno:
Yorubas and their lie lie agenda again
Never trust those inconsistent people, they can lie for Africa

EmmyDJourno:


Born slave, born fool like you, mtchewww

I am wealthy enough to buy your entire generation and two generations to come. Every elderly people in your family starting from the particular one that brought a miserable animal like you to this world are fools.

The Tax guy was simply saying the nation thru NNPC can't manage the corruption involved in the refineries!
Just like it couldn't with selling crude & refined products. Not financially transparent or profitable.

It's a though decision, we would not get near N11t if it's sold (and it's not worth that 2nd-hand value anyway) the money was wasted and embezzled.
Let it be given to the privates or even the "illegal" operators with government holding majority shares and you'd see the refineries work...

It has nothing to do with age of the refineries (1965, 80 and 88) Lots of older refineries including Shell' Marshall Refinery in California built 1915 are still working.