If We Privatize Our Refineries Will Heaven Fall? - Politics - Nairaland
Nairaland Forum › Nairaland General › Politics › If We Privatize Our Refineries Will Heaven Fall? (363 Views)
| If We Privatize Our Refineries Will Heaven Fall? by youngalex(op): 10:39pm On Nov 26, 2018 |
Nigeria is losing so much from importing refined petroleum products and the earlier we start refining our total demand locally the better...I ask again what is preventing the immediate privatization of Refineries? |
| Re: If We Privatize Our Refineries Will Heaven Fall? by ken6488(m): 10:43pm On Nov 26, 2018 |
yes oooo selfish nigerian men will come for your head |
| Re: If We Privatize Our Refineries Will Heaven Fall? by Turantula(m): 11:17pm On Nov 26, 2018 |
75% of staffs in NNPC (Managers) viz a viz Refineries are Northerners. If you privatize it for open competition it will equate to Restructuring. And once it is going to be Restructured some people will fight against it & your guess is just as good as mine |
| Re: If We Privatize Our Refineries Will Heaven Fall? by MetaPhysical: 11:40pm On Nov 26, 2018 |
The price of fuel is affordable now and the quality is not compromised because of FG subsidies. If we sell them off to private investors FG will no longer subsidize it. It is a high demand commodity, therefore pricing will be at cut-throat level and affordability will be out of reach of most people. Resellers of fuel will begin diluting and compromising quality to maximize profits. Price of public transportation will go up, price of market produce will go up due to input cost. Many will return to bicycle...but fuel marketers will invade and monopolize that market as well and bicycle will go up in price. Productivity will decrease nationwide which will have consequences in IGR and GDP at state level and thus impact budget. I am surprised economists are not speaking up against the idea. |
| Re: If We Privatize Our Refineries Will Heaven Fall? by youngalex(op): 11:47pm On Nov 26, 2018 |
MetaPhysical:. ou just narrated the negative impact in a monopoly driven market,imagine if 4 investors acquire stakes in our 4 Refineries,there will be competition and invariably the price will come down in line with demand forces...Nigeria spends app over #100 Billion annually subsidizing fuel and this is highly unacceptable for the future growth plan |
| Re: If We Privatize Our Refineries Will Heaven Fall? by shukuokukobambi: 11:48pm On Nov 26, 2018 |
youngalex:It was one of the things OBJ did that yaradua reversed when he came. The refineries are just money drainers and should be sold off. Until we deregulate the oil industry, we will keep dancing on tbe same spot of gross inefficiency and wastage. 1 Like |
| Re: If We Privatize Our Refineries Will Heaven Fall? by MetaPhysical: 11:55pm On Nov 26, 2018 |
youngalex:My brother, Telecomms is neck to neck with oil revenues in Nigeria. Are you aware? There is competition in Telecomms and it is expensive and poor quality. 1 Like |
| Re: If We Privatize Our Refineries Will Heaven Fall? by escapefromusa(f): 12:03am On Nov 27, 2018 |
Turantula:Bureau of Statistics www.nairaland.com/attachments/8186607_cfp124w_jpega5a27a25c78c16fece858c418e87c49b |
| Re: If We Privatize Our Refineries Will Heaven Fall? by anthony86(m): 12:06am On Nov 27, 2018 |
Compare with the board managers of NNLG and that of NNPC. NNLG has more southerners that's why they can record profit Turantula: |
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