₦airaland Forum

To Bubu's pocket abiiiii

maybachmusic:
Some people made 132B



That's should be the headline

Very true. Even before appropriating money to these operations, government planner know it will be lost, but because some connected fellow is awaiting the contract, they will still spend on it

hush15:
look truth be told, the price inceease compared to what we are paying now wont be much but it will only be for awhile. The monopoly will be taking from nnpc and you begin to see players un the industry take bold step and then the madket begins to experience big competition which ultimately begins to see price comparisons and eventually falls just like we experienced in the telecommunications sector and before you know it, we paying even less that 145 to say the least. best part is products will be refined locally to reduce cost drastically which means we can go back to days where we buy less that 50naira

I know...I have used this argument you have given me on Nairaland before.

And every time, I get the same response. 'They will exploit us' .

Nigerians sha. I opposed PDP....yet i know a good idea when I see one.

And how much in millions or billions did NNPC gain in 2017??


A question seriously begging for answer..

MyVILLAGEpeople:
How many of you discovered those Lucifer monikers comments has drastically reduced on Nairaland. seems the mods has done the right thing by banning them, or they have relocated back to hell.. lool

The guy was a troll.

Online trolls gain energy from causing offence on the web

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Make afonjas let atiku sell this thing dem say no

Omooba77:
The operating deficit recorded by the nation’s refineries rose by 39 per cent to N132.5bn in 2018, compared to the previous year, data from the Nigerian National Petroleum Corporation showed on Tuesday.

The refineries posted a loss of N95.09bn in 2017, according to the NNPC data.

The refineries, which are located in Port Harcourt, Kaduna and Warri, have a combined installed capacity of 445,000 barrels per day but have continued to operate far below the installed capacity for many years.

Port Harcourt refinery, which did not process any crude oil in seven months, recorded the biggest loss of N59.96bn in 2018.

Kaduna refinery, which was idle for 11 months, lost N31bn while Warri refinery recorded a deficit of N41.71bn, according to the NNPC.

A total of N13.58bn was lost in January; N8.05bn in February; N11.88bn in March; N20.08bn in May; N14.51bn in June; N10.45bn in July; N10.79bn in August; N6.97bn in September, N9.32bn in October, N9.58bn in November and N17.31bn in December.

The refineries made a profit of N6.32bn in April for the first time in 10 months.

It was observed that Warri refinery was idle in January, September and October 2018.

The NNPC, in its monthly report released on Tuesday, said its group operating revenue for December stood at N731.88bn, N439.59bn higher than the previous month performance, while expenditure surged by N429.52bn.

It said, “This month’s revenue is far more than the budgeted revenue which resulted in a marked increase in trading surplus despite the drag in operating expenditure in the month.”

The corporation recorded a trading surplus of N12.13bn in December.

“This increased performance is attributable to NPDC’s higher revenue recorded during the period following NPDC continuous revenue drive, arising from recent average weekly production of 332,000bpd making the target of 500,000bpd for 2020 achievable. This also captured the updated previous months’ revenue and expense,” it said.

In January, the Petroleum and Natural Gas Senior Staff Association of Nigeria expressed its opposition to the current operating model for the nation’s refineries.

 


PENGASSAN described the model as unsustainable, calling for the adoption of the Nigeria LNG Limited’s business model “after the refineries must have been rehabilitated for them to yield better dividends to the nation’s economy.”

It also called on the government to increase local refining capacity and remove all observed encumbrances to full rehabilitation of all the four refineries


https://punchng.com/refineries-lost-n132bn-in-2018-says-nnpc/

Better making losses than selling them to "friends ".

Atiku claims to have beaten Buhari in the just concluded election by 1.6 million votes

Atiku Abubakar, on Monday, submitted a petition before the Presidential Election Petition Tribunal in Abuja, according to reports.

He claimed that he won the just concluded February 23 election, instead of Buhari. And if we can recall, the Independent National Electoral Commission, INEC declared Buhari as the winner with over 3 million votes.

Atiku claims that according to the data from the INEC server, the correct data from state to state computation shows that he emerged victorious with over 1.6 million votes. He said that this clearly nullifies the victory of President Muhammadu Buhari which claimed to have won him with a margin of 3, 928, 869 votes, according to reports from the Punch.

Check out out https://idonsabi.com/atiku-claims-to-have-beaten-buhari-in-the-just-concluded-election-by-1-6-million-votes/ to read more

Cc @Lalasticslala

tiredoflife:
Make afonjas let atiku sell this thing dem say no

What better reason to offload the burden of NNPC off the hands of the govt.

akoaki:
Better making losses than selling them to "friends ".

They av sold your brain to the gods

maybachmusic:
Some people made 132B



That's should be the headline

NNPC shouldn't be losing money, they should be gaining billions of dollars annually.

The problem we have is not knowing how to manage the government offices due to employing those that don't have idea of the portfolio given to them due to, is he is tribe, brother, concubine son/daughter. Look at what happened with DPR employment, does that passed the oral interview were not employed but, tribe person and the highest bidder takes it all. Someone even said another someone vowed that Niger deltas will not be employed. I just wonder if such people that says this things, drink water at all? Government establishment will continue to run at a loss as long as they continue to employed people with no ideas. Did they talk about false contract of billions, what happened, nothing? NNPC is ATM for some people and nobody dare talk. Shame to the southerners who claims to be highly educated.

theoldpretender:
I know...I have used this argument you have given me on Nairaland before.

And every time, I get the same response. 'They will exploit us' .

Nigerians sha. I opposed PDP....yet i know a good idea when I see one.

Those that oppose selling of that waste pipe are people who don't know and have refused to know yet their generations unborn will never benefit yet they keep supporting what they don't understand. They lack foresight.

The only reason why power is still an issue is because government isn't enforcing prepaid meters and the reason is simple, they are raping the distribution companies while in return the distributing companies are fagging us out. Government still generates electricity and sell outrageously to transmission coy which is also a government agency who also rape the distribution coys

tiredoflife:
Make afonjas let atiku sell this thing dem say no

Really? Even though more of those “afonjas” actually voted for him than your own people? Tribalism has obviously eaten away your ability to reason.

maybachmusic:
Some people made 132B



That's should be the headline

You are very smart and intelligent.

Realtord43:
When Atiku said our NNPC was a monster which drained money from the country nd nid to be sold, lots of folks was tongue lashing. just imagine what was loss in just a year

Leave them na...

NNPC as a whole is just a scam....how much do they make and how much do they pay into the Federal Account?? Nigeria is losing billions cos of NNPC.

For Atiku to say that even if it cost him his life he will privatize NNPC, u think he was stupid?? Even when Nigerians were against him and he knew it could ost him the presidency...he stood by those words till the end. He could have left it out nd campaigned on other things, then do it if he is elected into office but he stood on it...cos NNPC is one big monster feeding on our revenue. Its like a back channel where our money is being drained. They steal, they waste and they live large....what has Mr INTEGRITY done to stop that?? If it was easy to handle them and best to keep it.

Imagine how much lose....if they used that to build an industry or pump it into our medical facilities or Educational institutions, won't it be better?? Or share the money for all of us

People were so quick to condemn Atiku...tell me how what Mr INTEGRITY has achieved with NNPC so far.

Ok, I think President Buhari, with all due respect, needs to sack himself as petroleum Minister and also sack Ibe Kachickwu as Minister of Petroleum Resources. Let's try other better hands.

They only tell the public when they lose but keep mute when the gain even when the likes of Femi Falana threatened them with legal action for the corporation disclose its daily earnings.

Yet they emoy people and pay them for bringing losses. Nnpc is a political enterprise

No be something wey dey work dey record loss?
NNPC isn't working yet they lose so much to what exactly?

theoldpretender:
Atiku is right...but the problem is selling NNPC means that NNPC will be operating as a private company...which means fuel prices will shoot up to N250 and beyond...because NNPC is now no longer on government lifeline.

Then Nigerians don't like government selling government companies. Some people are still angry with PDP for selling NEPA.(Despite the fact that it was obvious privatization was needed)

Don't worry the new pump price is being worked on

maybachmusic:
Some people made 132B



That's should be the headline

Absolutely spot on. And this is in d era of anti-corruption

BIGGIE121:
This was why i supported the auctioning of nnpc

Then what is stopping you people (The National Assembly) from passing the law?or as usual you Nigerians are looking for a fall guy to blame?

holuphisayor:
No be something wey dey work dey record loss?
NNPC isn't working yet they lose so much to what exactly?

Good keschurn

theoldpretender:
The guy was a troll.
Online trolls gain energy from causing offence on the web

Hmmmmmm You are right..

Sell these refineries to oil majors like Agip, Total, Shell etc.

theoldpretender:
Yes, that's right.

But anytime I tell Nigerians on Nairaland that we have to deregulate and sell NNPC...that's when people will lam bast you well well.

EVEN when I bring up GSM and how it was deregulated from the start...how MTN SIM used to cost N10000 , and how a package from veego could coat as much as 23000 (veego is now airtel)...but thanks to deregulation prices came down....they will say it is different.

My guy, you should be thanking GOD you can understand where others are ignorant and want to remain so. This is the reason why you will be wealthier than them and they will keep thinking you are into blood money. All fingers are not equal. Same reason why some girls get more suitor because they are more beautiful. It's just life.

theoldpretender:
Atiku is right...but the problem is selling NNPC means that NNPC will be operating as a private company...which means fuel prices will shoot up to N250 and beyond...because NNPC is now no longer on government lifeline.

Then Nigerians don't like government selling government companies. Some people are still angry with PDP for selling NEPA.(Despite the fact that it was obvious privatization was needed)

Atiku selling NNPC means we will start buying fuel at 400, between, if someone should say, let's sell NNPC to a neutral person that has no ties whatsoever to any of these cabals, all of them will immediately say, DONT sell NNPC... Look at phcn now, it's a disaster, nepa is better than wat phcn has become... Stop recycling foolish ediot old men ad politicians una no go listen una go dey follow pdp and apc that has mortgage una future up and down...