₦airaland Forum

BlueRayDick:
I think NNPC should just be made regulator and not a player in the industry . If they take the refineries off NNPC’s hands and just have them remain regulators we would be surprised how effective the new owners of the refinery will be .

iamoyindamola:
For a poor country like ours we keep on throwing money around wasting and still borrowing

larride:
I want them to sell off most of the assets too but are we really ready to hands off our petrol refinery fully to the private sector knowing how petrol and disease impact alot of things in this country?

The idea that government must hands off everything to me is just excusing the government incompetence. You are elected to do a job, if you can't do it, then resign.

iamoyindamola:
According to sheikh oasis we are poor
Poorn't we

Kimbeast:
You are comparing apples to pineapples. One is breaking the law and the other isn't. In what universe is Underage and feeling comfortable/not comfortable the same thing. So if a player says I am a Christian and I don't work on Sundays so I won't play today the club should grant his request because he is not comfortable.

OasisX:

GloriousGbola:
kaduna refinery is a white elephant where people are paid for doing nothing.

lets say dangote bought over kaduna refinery, would that state of things continue? people being paid day in, day out, year in, year out with no output?

Theflint1:
Oasis, you didn't post this good news that APC handles have been posting to celebrate Jagaban Borgu

https://twitter.com/otegaogra/status/1917481271854326024

diggz:
Audio achievement as usual. Propaganda naim Una sabi

OasisX:


.....its no PR or Audio dear big bro, soon common man will feel it.

diggz:
You still dey on PR things my guy. If no be PR things, you go understand when people really say your guy no dey perform. All your agenda na towards securing 2027 e no pass like that. Na here we go dey after your guy complete him tenure to review him audio workings.

OasisX:


........Ajaokuta nko?! Or Crude Oil Wells that Buhari discovered in Bauchi and Nasarawa?! LOL!

BlueRayDick:
Government has shown it can’t really handle any successful business . I prefer government faces governance and leave business to the private sector ; let government earn taxes and levies from the private sector’s efficiency and superior profitability .

diggz:
This right here! While citizens recognise and appreciate that Nigeria is broke, it’s as if the government doesn't understand this simple fact!

The country is broke, but let’s spend billions building a useless VP accommodation.

The country is broke, yet the president and his people used our common wealth to buy a new plane for him so he can continue vacationing as normal/even relocate to another country to work remotely.

The country is broke, but Buhari spent billions on the Aso Rock Villa hospital while treating himself in the UK and working remotely from there, too. Even his wife couldn’t tolerate the blatant corruption; she came out to complain about the Aso Rock hospital and how money meant for renovation was embezzled. Fast forward to Tinubu’s tenure, and he is still relying on medical tourism abroad because he refuses to fix our local healthcare, which should be a no-brainer for any president. Beyond the money-saving aspect, what about the security of our number one citizen? Nigeria remains the only country where its leader constantly travels abroad for medical treatment.

Every adult should know that when you’re broke, it’s not the time to gather more loans for unnecessary things that will only put further pressure on your finances and you —but not this government.

The country is broke, and yet we destroy businesses and the livelihoods of thousands to build highways, among other things. I could go on and on. All I see from this current government and the policymakers is that they believe citizens should suffer in poverty as long as they continue living their opulent lives as usual.

The only visible achievement we see people celebrating now is how Mr. Strategist is consolidating power for himself and his cronies while forgetting that he’s literally done nothing but announce audio achievements since he’s been in power. It is truly shameful!

GloriousGbola:
kaduna refinery is a white elephant where people are paid for doing nothing.

lets say dangote bought over kaduna refinery, would that state of things continue? people being paid day in, day out, year in, year out with no output?

larride:
Well I disagree, NNPC (On behalf of the govt) owns the largest share of NLNG at 49% while Shell, Total and Eni combine holds the remaning 51%. That way the govt just can't wake up and make a decision without at least one of the other 3 supporting the decision to make it a majority. NLNG is a proof that government can still be in business and be successful at it when it's structured the right way.

The PIA that was signed by Buhari already mandated NNPC to register with a CAC and go public with its shares. Kyari only register NNPLCO and refused to hold an IPO.

Once the company goes public and hold an IPO, the company will be better run.

larride:
Well I disagree, NNPC (On behalf of the govt) owns the largest share of NLNG at 49% while Shell, Total and Eni combine holds the remaning 51%. That way the govt just can't wake up and make a decision without at least one of the other 3 supporting the decision to make it a majority. NLNG is a proof that government can still be in business and be successful at it when it's structured the right way.

The PIA that was signed by Buhari already mandated NNPC to register with a CAC and go public with its shares. Kyari only register NNPLCO and refused to hold an IPO.

Once the company goes public and hold an IPO, the company will be better run.

GloriousGbola:
i am not sure they will go all the way through in privatization because if they do NNPC will no longer be under control of the FG as i see it

larride:
No it won't happen but the question or rather my response to BlueRay was that, if Dangote can buy and revive Kaduna refinery, why can't the government do so also? It's simply incompetence and corruption. They don't want it to work because they are getting from money from it not working.

If we sell off all our refineries to Dangote for example, we practically become subjects to his price control mechanism. We've seen what Dangote can do with Dangote cement, do we want that with petrol and diesel also?

Also no reasonable government put all its energy needs at the hands of private entities, it's a recipe for instability.

Lastly, we can't keep excusing the incompetence of our leaders by just saying they should sell everything off and let the private sector handle it, we should be demanding them to do their fûvking job that they are elected to do.

BlueRayDick:
Baba, the NLNG example u have clearly shows it is a public-private sector partnership . I’m sure the private sector team led by Shell and the others in the consortium take full control of the operations by virtue of their 51% shareholding . That way, u don’t have the workforce populated by redundant Civil servants who go to overseas training as form of paid leave , but see it as a learning experience to come back here to apply what they learnt on their work.

I don’t oppose to public-private partnership, but the current structure of NNPC will never work . The PIA provisions won’t solve anything . Registering NNPC as a Limited Liability company will not bring any visible result .

Registrating NNPC as Limited Liabilitu company owned by the FG is like taking a bottle of Gulder over beer and saying u are changing its name to Coca Cola while the contents remain the same . It will always remain a bear irrespective of the amount of christening u do for the gulder bottle .

OasisX:
......I will accept the L, if eventually PBAT failed. I am optimistic we are on the right track even though things are damn tough now for the common man.

GloriousGbola:
the problem is we have empirical evidence - all the govt run parasatatals were underperformers. from nitel to nepa to unipetrol to water corporation. NNPC is only thriving because oil is a high value commodity. and the returns are enough to mask the losses. there has to be a massive culture shift within NNPC, and i am not sure that can happen.

GloriousGbola:
ajaokuta is nigerias most notorious white elephant project. we discussed it here. i had an uncle that spent his entire career there.

you think this country can be productive if people are paid to do nothing?

it is one thing to discover oil in northern nigeria. let us assume it was not audio oil for the sake of buhari .

NNPC runs partnerships for extraction. who is going to build an oil field in northern nigeria, with boko haram everywhere?

what are the economics of new oil platforms in 2025, especially for the landlocked north? oil wells, then oil pipelines all the way to the south?
and an oil well just to supply an oil refinery is a bad proposition as refineries are also loss leaders

diggz:
2 years don go. Scores na big F! You wan wait till after your guy destroy the country finish before you collect L. How you and your Oga go take compensate people wey Una don destroy their entire life?

Man lost weight drastically within 2 years and changed his mind about Tinubu🥹😭🧎🏻‍♂️‍➡️ pic.twitter.com/m5EWLYjkJU

— Oyindamola🙄 (@dammiedammie35) April 30, 2025

OasisX:
......decisions and sacrifices must be made for the sake of this country.

Ellexy:
Meanwhile this administration has finally favoured Mr Onopkasa and his family

Man lost weight drastically within 2 years and changed his mind about Tinubu🥹😭🧎🏻‍♂️‍➡️ pic.twitter.com/m5EWLYjkJU

— Oyindamola🙄 (@dammiedammie35) April 30, 2025