Nigeria's Refineries Post ₦406.62 Billion Loss In Two Years - Politics (2)

Nigeria's Refineries Post ₦406.62 Billion Loss In Two Years - Politics (2) - Nairaland

Nairaland Forum › Nairaland General › Politics › Nigeria's Refineries Post ₦406.62 Billion Loss In Two Years (15079 Views)

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Re: Nigeria's Refineries Post ₦406.62 Billion Loss In Two Years by janedonez(m): 11:06am On Aug 09, 2020

Drainage pipe

Re: Nigeria's Refineries Post ₦406.62 Billion Loss In Two Years by Nobody: 11:08am On Aug 09, 2020

Galactico4ever:
Na was oh

Yes bro, you can say anything!!

I am currently in a system that's FLOURISHING with little/no resources BUT NIGERIA has everything but still can't make progress without FULL TIME CORRUPTION and due to the SET OF RULERS that call themselves POLITICIANS!!!

It's pathetic!!!

1 Like

Re: Nigeria's Refineries Post ₦406.62 Billion Loss In Two Years by ZKOSOSO(m): 11:08am On Aug 09, 2020

Fulani Looting Ground....!

5 Likes

Re: Nigeria's Refineries Post ₦406.62 Billion Loss In Two Years by nnamdi640: 11:09am On Aug 09, 2020

Macsender2:
Nigeria going down each day

What do you expect from a dullard as a president

2 Likes

Re: Nigeria's Refineries Post ₦406.62 Billion Loss In Two Years by Dukeolumidemans(m): 11:09am On Aug 09, 2020*

If Nigeria was a company, omo it's books should be in heavy loss. Nothing is working here. Honestly Nigerians are supposed to be on the streets as we speak asking all it's leaders to step down immediately. Another option is that Nigeria should be recolonised or divided so that everyone can go their separate ways. We can't keep doing the samething again and again because we will keep getting the same result..

Most times I ignore Nigerians because the ones that are supposed to revolt against their wicked leaders are busy ranting online while others are watching ~~porn~~ BigBrotherNija... grin

10 Likes 1 Share

Re: Nigeria's Refineries Post ₦406.62 Billion Loss In Two Years by pjc(m): 11:10am On Aug 09, 2020

Otigba...Privatize that shit already. Left to me sef Nigeria as a whole including the government should all be privatised.

Nonsensical nonsense making these losses even before the covid era.

1 Like

Re: Nigeria's Refineries Post ₦406.62 Billion Loss In Two Years by Galactico4ever(m): 11:10am On Aug 09, 2020

Randy91:
Yes bro, you can say anything!!

I am currently in a system that's FLOURISHING with little/no resources BUT NIGERIA has everything but still can't make progress without FULL TIME CORRUPTION and due to the SET OF RULERS that call themselves POLITICIANS!!!

It's pathetic!!!

Ehm please oh

Can you Link me to the system?

Re: Nigeria's Refineries Post ₦406.62 Billion Loss In Two Years by Greenvaiper: 11:12am On Aug 09, 2020

A man whose cows haven't given birth in 33years of fathering them, how do u expect him to run refinery business profitably?
You Nigerians are expecting too much from the certified fulani dullard from Niger.

6 Likes

Re: Nigeria's Refineries Post ₦406.62 Billion Loss In Two Years by Djyucee1(m): 11:13am On Aug 09, 2020

Sell nnpc to a competent oil firm. The Nigerian government is using it as an avenue to loot. But trust me it can't be privatised

3 Likes

Re: Nigeria's Refineries Post ₦406.62 Billion Loss In Two Years by tomdon(m): 11:14am On Aug 09, 2020

This is a crime that people would be executed for were it to be in a sane country

8 Likes

Re: Nigeria's Refineries Post ₦406.62 Billion Loss In Two Years by PureGoldh(m): 11:14am On Aug 09, 2020

9ja matter big pass Zuma rock

Re: Nigeria's Refineries Post ₦406.62 Billion Loss In Two Years by Ben404040: 11:16am On Aug 09, 2020

So they spent 400B on subsidy. After saying it was fraud

2 Likes

Re: Nigeria's Refineries Post ₦406.62 Billion Loss In Two Years by Nobody: 11:16am On Aug 09, 2020

Galactico4ever:
Ehm please oh

Can you Link me to the system?

I am sorry bro, NIGERIA gave me NOTHING, so I worked hard to be there...

So you gotta work hard too to be in same system..

Have a nice day.

Re: Nigeria's Refineries Post ₦406.62 Billion Loss In Two Years by Nobody: 11:17am On Aug 09, 2020

Nchenches:
Because this Buhari administration is the most corrupt in Nigeria’s history.

Only buhari? The worst decay in our economy has always been at the hands of those corrupt northerners.

8 Likes

Re: Nigeria's Refineries Post ₦406.62 Billion Loss In Two Years by Nicepoker(m): 11:19am On Aug 09, 2020

Blind followers will still find a way to disagree.

3 Likes 1 Share

Re: Nigeria's Refineries Post ₦406.62 Billion Loss In Two Years by Eriokanmi: 11:19am On Aug 09, 2020

Esseite:
Please sell to the cronies we accused Atiku he would sell to... it's way better than incurring losses in this magnitude.

406bn/475 (current dollar rate) = $854.7m

Chinese debt with sovereignty at stake - $500m
Nigerian current Debt to revenue - 90%..
Poverty capital of the world..
4million internally displaced..
35m unemployed working population...

When we are ready, we would elect capable individuals.

you couldn't have said it better. Nnpc is a pool of scam. Those benefiting from this fraud know themselves and would never allow it to be privatised. When Obasanjo came, he advised all our refineries be sold to ensure productivity. When buhari came, he said he wouldn't privatise it rather, would carry out TAM on all of them. At some point, kachikwu said they could operate up to 90% capacity. The next thing heard of the refineries was sabotage, that pipelines carrying crude to refoneries were saidnto have been vandalised. The following year, they resumed TAM. All the amount wasted since 2015 on TAM is over 1 billion dollars with nothing to show for it. Privatising refineries and scrapping of NNPC will hurt them. They'd never allow it see the light of the day because some of them have private refineries abroad.

9 Likes 3 Shares

Re: Nigeria's Refineries Post ₦406.62 Billion Loss In Two Years by Dalby(m): 11:20am On Aug 09, 2020

Frankly shut the place down, after all we have been importing refined products...this is about One billion USD that we are talking about...

1 Like

Re: Nigeria's Refineries Post ₦406.62 Billion Loss In Two Years by FLOTAN(m): 11:21am On Aug 09, 2020

Very sad report! No reason was given for the losses? How come all the refineries made losses and now idle? Such huge investment!!! Really sad.

***This house located in a choice area in Lagos is up for sale.

Re: Nigeria's Refineries Post ₦406.62 Billion Loss In Two Years by Galactico4ever(m): 11:21am On Aug 09, 2020

Randy91:
I am sorry bro, NIGERIA gave me NOTHING, so I worked hard to be there...
So you gotta work hard too to be in same system..
Have a nice day.

No cap bro.
Enjoy your day.

Re: Nigeria's Refineries Post ₦406.62 Billion Loss In Two Years by Nobody: 11:22am On Aug 09, 2020

MajorOvakporaye:
If you have not married or given birth, please don't give birth to your kids here except you are financially comfortable.

The kain suffer wey dey this country wear boxers and pyjamas.

Re: Nigeria's Refineries Post ₦406.62 Billion Loss In Two Years by nograv: 11:22am On Aug 09, 2020

Nchenches:
Buhari is making the same Kaduna Refinery mistake today.

Buhari is laying gas pipeline from the Nigerdelta to northern egion to build two huge gas processing plants in northern Nigeria, then huge pipeline to transport the gas to Arab North Africa.

This is one of the reasons Mallam Daura still wants presidency to remain in the north after Buhari.

Why does the South allow this nonsense..?? honestly..

6 Likes

Re: Nigeria's Refineries Post ₦406.62 Billion Loss In Two Years by Sonoyom(m): 11:23am On Aug 09, 2020

Buhari is really working hard to ruin the country.

2 Likes

Re: Nigeria's Refineries Post ₦406.62 Billion Loss In Two Years by bigstan11787(m): 11:23am On Aug 09, 2020

No news

Re: Nigeria's Refineries Post ₦406.62 Billion Loss In Two Years by nnamdi640: 11:25am On Aug 09, 2020

Wickedness, tribalism and religion will not allow this country to growth....
A country with abundant crude can't build refineries to refined the product God gave them after many years.I gave up on this country long time ago.

3 Likes

Re: Nigeria's Refineries Post ₦406.62 Billion Loss In Two Years by Nobody: 11:27am On Aug 09, 2020

Just sit back relax and enjoy the whole show.

1 Like

Re: Nigeria's Refineries Post ₦406.62 Billion Loss In Two Years by Reference(m): 11:27am On Aug 09, 2020

These refineries have not worked in any meaningful way since the dying days of the Babangida regime, however every single administration since then has executed or claimed to execute rehabilitation works running to several hundred million dollars. Yet they will not let it go.

Execuse me, but what do you call this kind of madness. Is this not another Ajaokuta.... yet they will not let go.
If that man was the Managing Director of a proper, accountable corporation and he comes before us shareholders to announce yet again another loss, what should we do to him and his board....

....and if he refuses to step down what should we as shareholders do..... yes, dump our stocks enmasse.
Nigerian citizens, let us tell these people we no wan do again.... no be by force for government to get refinery, haba.

Money for hospitals and schools and roads are going down the NNPC waste pipeline...paying salaries for no work, paying leave allowance when they are on perpetual leave, paying for foreign courses and estacodes when all knowledge is going to waste, paying medicare to handle idleness related obesity... enough is enough.

Husbands, fathers, wives, mothers will wake in the morning, dress up, pick the car keys and claim they are going to work in an establishment that has not achieved anything productive in 25 years. Some will even have joined the NNPC Refinery Chain at the time they begun having problems in the early 90's and will claim to be eligible for pension today having not witnessed up to a calendar month of continuous production all their time there. Haba, where is the conscience Nigerians.

7 Likes

Re: Nigeria's Refineries Post ₦406.62 Billion Loss In Two Years by SocialJustice: 11:28am On Aug 09, 2020

What is the breakdown, how were these losses incurred?

Re: Nigeria's Refineries Post ₦406.62 Billion Loss In Two Years by asuquoabel585: 11:29am On Aug 09, 2020

No Wonder Fuel Price Rises To #150 per litre 9ja which way to go?

1 Like

Re: Nigeria's Refineries Post ₦406.62 Billion Loss In Two Years by Dmanlex(m): 11:31am On Aug 09, 2020

They are embezzling our money

1 Like

Re: Nigeria's Refineries Post ₦406.62 Billion Loss In Two Years by LordofNaija: 11:31am On Aug 09, 2020

I'm in nee d of an experienced Production Engr for a consultant role. Kindly PM me if it fits

Re: Nigeria's Refineries Post ₦406.62 Billion Loss In Two Years by otomatic(m): 11:31am On Aug 09, 2020

nograv:
Till these day I cannot fathom why we even have a refinery in Kaduna.

All refineries should be on the coast where the oil is extracted.

Just to appease the Fulani, we built such a facility inland.. Mtcheww..

Honestly. When simple economics prescribes proximity to raw materials when citing industries, Nigeria will do the opposite then later say that our own economy defies all the economic laws. This is one case study.

2 Likes

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