₦airaland Forum

Desyner:
The person buying it will have to believe and not the government. Once Dangote start operation the govt refinery will be some 16% of Dangote's refinery capacity at most.

You're argument hinges on disbelief. If you wish to maintain with tax money be glad your in good company with buhari. The fact we had bidders interested in participating in concession ofor oil already indicates private companies believe the refineries can be fixed and operate profitability.

Blue3k:
You're argument hinges on disbelief. If you wish to maintain with tax money be glad your in good company with buhari. The fact we had bidders interested in participating in concession ofor oil already indicates private companies believe the refineries can be fixed and operate profitability.

Your argument hinges on assumptions. Assumption that somebody will be willing to buy a failing refinery. The power sector with no serious alternative has proven that there will be ignorant bidders. The refineries are dead and awaiting burial. Anybody investing in it isn't thinking clear enough.

Desyner:
Your argument hinges on assumptions. Assumption that somebody will be willing to buy a failing refinery. The power sector with no serious alternative has proven that there will be ignorant bidders. The refineries are dead and awaiting burial. Anybody investing in it isn't thinking clear enough.

No assumption needed logic dictates if you're willing to big for concession which is less profitable than owning asset. You are willing to buy the asset at right price. You don't enter into concession agreement if you don't believe theirs profit to be made.

Blue3k:
No assumption needed logic dictates if you're willing to big for concession which is less profitable than owning asset. You are willing to buy the asset at right price. You don't enter into concession agreement if you don't believe theirs profit to be made.

But has anyone credible ever bid for concessions on these refineries? You can always find ignoramuses and rogue bidders like the local profiteers who bought out the DISCOs without considering whether they had the funds to make the necessary capital investments to run them, but how many internationally-traded companies which file annual shareholder reports will bid for these pieces of junk, unless the Nigerian government agrees to grant them some level of domestic monopoly?

My suspicion is that the refineries can indeed be sold, but only probably for their scrap value, plus the value of any outstanding contracts they own, not for their original intended use as oil refineries as such. In the same vein, I suspect Dangote's refinery will only be profitable because the Nigerian government has guaranteed behind the scenes that the playing field will be heavily tilted in Dangote's favor. Unlike some people, I'm not buying into the conspiracy theory that the government has been deliberately sabotaging the NNPC refineries to benefit Dangote, just that his entire record of business "success" has been built on using his top-level political access to obtain preferential government treatment, and I don't see why anyone should expect Dangote to now suddenly stop using his old tricks.

omohayek:
But has anyone credible ever bid for concessions on these refineries? You can always find ignoramuses and rogue bidders like the local profiteers who bought out the DISCOs without considering whether they had the funds to make the necessary capital investments to run them, but how many internationally-traded companies which file annual shareholder reports will bid for these pieces of junk, unless the Nigerian government agrees to grant them some level of domestic monopoly?

My suspicion is that the refineries can indeed be sold, but only probably for their scrap value, plus the value of any outstanding contracts they own, not for their original intended use as oil refineries as such. In the same vein, I suspect Dangote's refinery will only be profitable because the Nigerian government has guaranteed behind the scenes that the playing field will be heavily tilted in Dangote's favor. Unlike some people, I'm not buying into the conspiracy theory that the government has been deliberately sabotaging the NNPC refineries to benefit Dangote, just that his entire record of business "success" has been built on using his top-level political access to obtain preferential government treatment, and I don't see why anyone should expect Dangote to now suddenly stop using his old tricks.

I only know about Agip-Oando that wanted it so far. The rest I'd have to look at old threads I posted. GE expressed only interest in rehabbing. Selling for scraps still better than nonsense turn around maintenance that never does anything substantial. Dangote always has sweetheart deals so it wouldn't surprise me. He's always been crony capitalist in my opinion. I dont have much proof except some little odd thing except his profit margins on cement and regulatory capture with banning tomato paste to help business.

NNPC na our ATM.Everyone comes and cash..

Blue3k:
650,000 barrels per day.

This is Designed capacity and may not operate more than 75%

DutchBruh:
Ladies and gentlemen why would the refineries work when the GMD of NNPC is only interested in making juicy deals worth billions of dollars with petroleum products importers and crude oil exporters. The tragedy is that president Buhari is aware of these opaque/corrupt deals but turns a blind eye. The same oil cabals that we wanted to crucify during the subsidy scandal are the people Maikanti Baru is dealing with. WE ALL KNOW THAT NNPC IS A CESSPOOL OF CORRUPTION. What has changed? Why would they fixed the NNPC when the company is their ATM.

Provided HausaFulaniKanuris-Muslims are in charge of the Oil sector, Buhari don't give a damn.....!! The Oil Sector is the official ATM of Fulani supremacist and cohorts.
All the noise about Dieziani is caused by her Ijaw and Christian identity. The sector is programmed to run on corrupt practices by the same Fulanis that dropped the HQ in Abuja instead of Port Harcourt or Warri. When anyone steals Oil Money and Northern Fulanis, Buhari will look the other side. Simple

ZKOSOSO:
Provided HausaFulaniKanuris-Muslims are in charge of the Oil sector, Buhari don't give a damn.....!! The Oil Sector is the official ATM of Fulani supremacist and cohorts.
All the noise about Dieziani is caused by her Ijaw and Christian identity. The sector is programmed to run on corrupt practices by the same Fulanis that dropped the HQ in Abuja instead of Port Harcourt or Warri. When anyone steals Oil Money and Northern Fulanis, Buhari will look the other side. Simple

We get it right one day; how, when I dont know

Sell the scrap to Russia

.

Make them Chad go find oil

Buhari is working

Hahahahahaha... I thought dey said PMB fixed d refineries immediately he came into power blah blah blah

Bubu again

Anti Corruption - 0

Power - 0

Refinery - 0

I wonder what has happened to Buhari's body language, I wish our Minister of lies and propaganda can explain.

Bubu again.

Nothing done

This is not what Bubu promised oooo

Oh Lord! when will there be a revolution in Nigeria?

DutchBruh:
If they sell it,how will they steal billions of dollars from the turn around maintenance(TAM) they embark on annually,that leaves the refineries in worse shape.

TAM is the best way NNPC guys rake in money for themselves.

I know that all these nonsense will come to a halt when we have an intelligent leader.

Buhari is a failure just like Jona. This is not change but a continuation of the old order

DutchBruh:
They are intentionallly sabotaging the refineries so Dangote will have monopoly in the market.

the refineries were sold to dangote before and it was revoked by yar adua. He den went to build from scratch. Nothing concern dangote here

omohayek:
But has anyone credible ever bid for concessions on these refineries? You can always find ignoramuses and rogue bidders like the local profiteers who bought out the DISCOs without considering whether they had the funds to make the necessary capital investments to run them, but how many internationally-traded companies which file annual shareholder reports will bid for these pieces of junk, unless the Nigerian government agrees to grant them some level of domestic monopoly?

My suspicion is that the refineries can indeed be sold, but only probably for their scrap value, plus the value of any outstanding contracts they own, not for their original intended use as oil refineries as such. In the same vein, I suspect Dangote's refinery will only be profitable because the Nigerian government has guaranteed behind the scenes that the playing field will be heavily tilted in Dangote's favor. Unlike some people, I'm not buying into the conspiracy theory that the government has been deliberately sabotaging the NNPC refineries to benefit Dangote, just that his entire record of business "success" has been built on using his top-level political access to obtain preferential government treatment, and I don't see why anyone should expect Dangote to now suddenly stop using his old tricks.

Yar adua reversed the sales of the refineries. Wat a useless man and aids he had. D same dangote will redend dose refeneries useless by 2019

bonechamberlain:


these refineries would never work, the country Is governed by evil, selfish, parochial and parasitic folks.

this evil government is waiting for dangote refinery to kick start, to ensure a complete and total monopoly of the economy by the northern poster boy and indirectly the north.

when this happens the warri, PH and KD refinery would be left to die.

the greatest mistake the Niger delta governors would make is to allow the sale of that refinery to a non southerner or a politician. The aim is to ensure that the refinery doesn't work, then would be sold to some corrupt "vulture capitalist".

this country would never work PDP or APC. just like Democrat, Republican they are all the same. A gathering of evil elite, concerned only about power, wealth and ego.

only a violent revolution, formulation of a new populist constitution or total restructuring would change the story of the common Nigerian.

So why didn't Jonathan repaired it wen he was in power. Na today the refinery spoil? U r talking as If the refinery got bad under buhari.

Corruption is d order of d day.

DutchBruh:
Ladies and gentlemen why would the refineries work when the GMD of NNPC is only interested in making juicy deals worth billions of dollars with petroleum products importers and crude oil exporters. The tragedy is that president Buhari is aware of these opaque/corrupt deals but turns a blind eye. The same oil cabals that we wanted to crucify during the subsidy scandal are the people Maikanti Baru is dealing with. WE ALL KNOW THAT NNPC IS A CESSPOOL OF CORRUPTION. What has changed? Why would they fixed the NNPC when the company is their ATM.

Oga he didn't turn blind eye,they are both in the embezzlement together, abi who is d minister of petroleum,so u can't steal money and be shouting who stole this money

Caseless:
change is still on course.

Sai baba till 2023!

You need a restructuring slap

Built2last:
The mod deleting this my post should continue.

Imagine Rochas and five others who are unable to pay salaries telling Anambra people to vote APC

Let me remind Rochas that the 2015 propaganda will not work in 2019

The APC propagandists said buhari built 4 refineries as Minister of petroleum and MD of NNPC from 1977-1978, no longer than two years. Refinery that Gowon built and Obasanjo commissioned, the credit for the building was given to the Fulani Buhari who was merely minister and few months into his tenure as petroleum minister. The contract and implementation was fully paid for before he ever became minister in the Gowon admininistration which he was not a part of.

It has been two years since he took over power this time and he is both petroleum Minister and president. The refineries are functioning way LESS than when he met them. The refineries have produced more under Obasanjo and Jonathan.

But people said this Buhari was an oil expert. He boasted he would "STABILIZE OIL GLOBAL OIL PRICE ", and Fashola opened his mouthto tell us all Buhari's early travels was to truly stabilize global oil price. He boasted that there was nothing like SUBSIDY and Jonathan was lying about subsidy. That he would fix the refineries, refine crude for Nigerians CHEAPLY and sell the rest. That it was easy.

Okay. Alright.

Oya tell superman Buhari to repair the four refineries and build new ones like you and he boasted naaa. No need for history books. No need to argue with me as you did before 2015 elections. Subsidy is a lie. Fuel is now 140 plus from 87 yet Jonathan's subsidy is a LIE. Okay

All this is long talk. Tell Buhari to fix four refineries in two years. He built the four in less a year in 1978. Surely to repair them now is as easy as kunu?


Muhammadu Buhari started his anti corruption crusade with $2.1bn Dasukigate, Sambo Dasuki was arrested, Raymond Dokpesi, Fani Kayode, Musuliu Obanikoro, Olisa Metuh, and Reuben Abati were also arrested in connection with Dasukigate.

While the government was busy wanking and masturbating with the gale of arrests and media frenzy that trailed the episodic drama, Dasuki opened up that Buhari also benefited from the $2.1bn arms fund, Dasuki reveled that he bought 2 bulletproof SUVs for Buhari from the money, he also gave him $300,000 from the same money. But Buhari denied collecting any money from Dasuki, he said he only got 2 bulletproof SUVs form him as his entitlement being a former head of state. Muhammadu Buhari forgot that former heads of state entitlements have never come from the office of the NSA before but office of the SGF, they said those accusing Buhari are the corrupt people fighting back. And that was how Dasukigate died a natural death.

The allegation of MTN N500m bribery scandal involving Buhari's Chief of Staff, Abba Kyari popped up. Tukur Buratai's multi million dollars Dubai mansions were uncovered. Abdurrahman Dambazau arms procurement fraud was reveled. Rotimi Amaechi's several attempts to bribe Supreme Court justices to give APC favorable election judgment were exposed. Kayode Fayemi's corruption allegation also came up, but Buhari shamelessly told the whole world that all the corruption allegation leveled against people in his government are false because he checked them before appointing them.

Then the Senate exposed how the then SGF, Lawal Babachir used N270m to cut grass in IDP camps, Buhari's government cleared him of any wrong doing, the government also cleared Ibrahim Magu of the weighty corruption allegations leveled against him, in fact, Muhammadu Buhari officially wrote the Senate that both men are clean. Then when Ikoyi orphaned money once again exposed how corrupt this government is, he suspended Babachir that he cleared twice of the same allegation. Up till this moment the report of the probe panel is not known to the public.

A witness told the court that Buhari's lawyer who was representing him in the certificate suit gave the presiding judge, Justice Adeniyi Ademola N500,000 at the period the case was still on but they said it wasn't a bribe but a gift.

Just recently one of Buhari's ministers, Ibe Kachikwu tactically exposed the biggest single corruption case in the history of this country, a whooping $25bn fraud in a government of saints? If Buhari that is the petroleum minister can approve contracts worth $25bn without due process and transparency, then why are we still talking about anti graft war under this government?

There is a whole lot of looting massively going on in this government but the only corrupt people they know are Jonathan's

This is massive. You nailed it but no one listens. No one reasons in this country. I pray another govt comes into power in 2019, let's know how clean or otherwise this govt is.

truthstands11:
This is massive. You nailed it but no one listens. No one reasons in this country. I pray another govt comes into power in 2019, let's know how clean or otherwise this govt is.

Amen ooooo

We all can now see that APCshit is a scam from Bubu to the last member in their register.

This is another campaign promise but they failed woefully. Now they are preparing to increase electricity tariff for the THIRD time in 2 years without increase in power supply.

Na stone we go take stone them out of Ask rock in 2019.

Naija never wise