₦airaland Forum

Nigeria is one of the few countries in the World where a government agency will post a loss of over one billion dollars in a space of 2 years and that agency will keep existing and getting more funds from the government.

Sincerely, I think Nigerian leaders have realised that Nigeria can't work again, so they are no longer trying to fix things. It's a case of "loot as much as you can if you get into position".

Dukeolumidemans:
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...

Well said!
Take a look at wats happening in Beirut, Lebanon.. Everyone came out and occupied the streets.. Announcing that all ministries should be occupied and the politicians executed..

Way to go if I am to say..

Even some of the soldiers had to plead and ask for forgiveness when asked the question "which side are you guys? For us or against us.

I stopped thinking bout this contraption after seeing a whole lot of craps argued on the internet.

The change is not yet here..

Let the suffering continue!

pjc:
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.

NEPA is privatized already, do you have 24 hours electricity as we speak? Dangote can build a refinery but Nigeria can't upgrade it's refineries to function. Think, it is not all about privatization.
The government is very irresponsible and corrupt.

Djyucee1:
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

They sold nepa to a competent firm, do you have 24 hrs electricity as we speak? Corruption does not allow growth to happen either public or private firms. Think about this, if you spend your profits made from your business for personal or selfish interests recklessly, your business would collapse.

Eriokanmi:
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.

Nigerian government privatised nepa as we speak there's no 24hrs electricity in Nigeria.
Nigerian government privatized EPCL (a subsidiary of nnpc that refines Liquefied natural gas) claiming it would scale up capacity but still today nothing has changed we still buy gas we use for cooking and other purposes very high despite the high deposit in Nigeria.
We need to hold Nigeria leaders accountable so that we would know how the wealth of the nation meant for the citizens is used.

ogododo:
https://punchng.com/fg-refineries-post-n406-62bn-loss-in-two-years/

Nigeria operates somewhat like a socialist state. I remember doing my industrial training in one of the refineries in 2008, it wasn't working at up to 30% of its capacity, the aero diesel plant was to be sold for scraps. They had full staff and contract staffs being paid to do little or nothing. President Obasanjo wanted to sell these refineries to Dangote but we all refused. Since the inception of democracy our refineries have gulped more than twice our yearly budget.

When we say the things we say about that region, some people will be forming defender of the universe and drawing up different kinds of conjectures and narratives.

What is the need of having Kaduna Refinery

Is the production in Bayelsa and Warri too exponential that another refinery MUST be in The North

If Dangote can single handedly build a refinery, which the Nigerian government cannot repair and upgrade one out of the three they have, then we have a lot yet to be discovered

onyechez:
NEPA is privatized already, do you have 24 hours electricity as we speak? Dangote can build a refinery but Nigeria can't upgrade it's refineries to function. Think, it is not all about privatization.
The government is very irresponsible and corrupt.

The problem with the sale of NEPA is that government does not let the discos and gencos set the prices for power

Instead, power prices are set by government via NBET.

As a result, most discos and gencos operate at a loss.Its been like that since 2013

Add the fact that a large percentage of people don't pay their power bills, and you will see why we don't have power constantly

InvertedHammer:
/
Refineries are not working but workers go there everyday and draw huge salaries/bonuses/allowances every month for zero productivity. A few months from now, NNPC will start hiring again.

/

Who told you they're not working, they're working in their own capacity, blame your politicians you voted for to rule you.
When crude oil was high on the stock market what did Nigeria use the profit to do? Diezani madueke and others sabotage the profits worth billions of dollars for personal use, now who should be blamed? Blame the leaders you vote for because of 1,000 naira bribe.
Sorry.

Cc:kikero

kikero:
The problem with the sale of NEPA is that government does not let the discos and gencos set the prices for power

Instead, power prices are set by government via NBET.

As a result, most discos and gencos operate at a loss.Its been like that since 2013

Add the fact that a large percentage of people don't pay their power bills, and you will see why we don't have power constantly

That's what I am talking about, privatization comes with it's terms and conditions, you should know that by now.
The Nigerian government insisted NEPA should be privatised at first isn't it? So whatever Nigerians see during privatization they should enjoy it like that.
The government knows it is not working decided to privatize it, why not privatize it to work? the same government that claims if it privatize it would work is the same government that does not make it work.
That's irresponsibility from the part of the government.

gabicon:
Nigeria operates somewhat like a socialist state. I remember doing my industrial training in one of the refineries in 2008, it wasn't working at up to 30% of its capacity, the aero diesel plant was to be sold for scraps. They had full staff and contract staffs being paid to do little or nothing. President Obasanjo wanted to sell these refineries to Dangote but we all refused. Since the inception of democracy our refineries have gulped more than twice our yearly budget.

Who told you he wanted to sell it to dangote?do you have the proof.
Obasanjo privatised NEPA, do have 24 hrs electricity in your house as we speak?

Una see those refinaries, na confam looting path for every government since the days of OBJ. Everybody dey cashout there.

ArcSEMPECJ:
What is the need of having Kaduna Refinery

Is the production in Bayelsa and Warri too exponential that another refinery MUST be in The North

If Dangote can single handedly build a refinery, which the Nigerian government cannot repair and upgrade one out of the three they have, then we have a lot yet to be discovered

Exactly dangote a single individual can build a refinery but Nigerian government cannot upgrade, very surprising to hear.

Nigeria leadership is foolish wicked elements.

Thank God Biafra restoration is around the corner, the whole world will know who is the real giant of Africa.

mamaafrik:
If Dangote built his refinery+plus petrochemicals annex at $1.9 billion,and 404/430 is 0.93
It mean that we used almost 93℅ of the amount he used to build the refinery and petrochemicals to run four moribund refineries that can't even produce 25℅ of their installed capacity in two,i mean just two years.
They should be sold off.

NEPA was sold, simple question : do you have 24 hrs electricity in Nigeria now.
Allison madueke stole billions of dollars from same NNPC, EFFC chairman magu claimed they recovered some of the loot, where's the money recovered? Why is it that madueke hasn't been prosecuted? Why has magu EFCC chairman the looter man not face prosecution?

Excuses:
They will be punishment upon their parents, for the wrongs done..it's nature bro..rich or not humanity in some ways must suffer..

Bros, I just can't understand woh, people just dey born anyhow, even us way dey here are struggling, some people just they drop more pikins

onyechez:
NEPA is privatized already, do you have 24 hours electricity as we speak? Dangote can build a refinery but Nigeria can't upgrade it's refineries to function. Think, it is not all about privatization.
The government is very irresponsible and corrupt.

NEPA shouldn't be used as an analogy. It's was only shared amongst themselves and their cronies without following proper public procurement practice. If it were handed over to companies with qualified technical and financial profile, the story for NEPA am sure wouldn't be same as it is now.

onyechez:
Who told you they're not working, they're working in their own capacity, blame your politicians you voted for to rule you.
When crude oil was high on the stock market what did Nigeria use the profit to do? Diezani madueke and others sabotage the profits worth billions of dollars for personal use, now who should be blamed? Blame the leaders you vote for because of 1,000 naira bribe.
Sorry.

Please enough of this blaming bullshyt, Jonathan left power HALF A DECADE AGO. Tell ur patrons to fix things, that's why they are voted in and not complain and blame other for every single thing

Gross ineptitude

These people have taken us very far

What is UK doing with 25 percent of our gas?

Fake news. Nigeria is progressing under Buhari. The loss is in fact the profit. There's no looting because Buhari's fight against corruption is in full swing. We have no complain because under Jonathan it was worse.

Sai Baba.

Chia, Nigerian FG are in big problem . why any things in c is bad, NNPC. NDCD ,CPC. NCC FCT EFCC & so cal NDDC

So wheres the result?

onyechez:
That's what I am talking about, privatization comes with it's terms and conditions, you should know that by now.
The Nigerian government insisted NEPA should be privatised at first isn't it? So whatever Nigerians see during privatization they should enjoy it like that.
The government knows it is not working decided to privatize it, why not privatize it to work? the same government that claims if it privatize it would work is the same government that does not make it work.
That's irresponsibility from the part of the government.

So, if government allows the discos to charge the prices they want to charge so that they can make a profit and pay gencos properly, you won't complain of high prices?

Because that's why government, despite privatisation, is forcing discos to charge prices lower than the actual costs. Nigerians don't want to pay higher prices for power

Heartlessbanker:
Cc:kikero

Lol,

Am busy today

But in brief, the refineries have been in a bad state for years because government does not let marketer control or set the price of fuel.

Add the fact that Nnpc is a government organization, and as such no one has any interest in making it work, which worsens the problem.

We could have running refineries and brand new ones if the government allowed the marketer control the price. Also jobs and more investment

Back to work for me.

onyechez:
Nigerian government privatised nepa as we speak there's no 24hrs electricity in Nigeria.
Nigerian government privatized EPCL (a subsidiary of nnpc that refines Liquefied natural gas) claiming it would scale up capacity but still today nothing has changed we still buy gas we use for cooking and other purposes very high despite the high deposit in Nigeria.
We need to hold Nigeria leaders accountable so that we would know how the wealth of the nation meant for the citizens is used.

yes, but they privatised it to their own people like atiku proposed. GE came to bid but was sidelined. The Nepa which was privatised, do you know the beneficiaries, there're same people destroying Nigeria. The list is as bellow:

Bola Tinubu ( same man who wants to be president of his family)
IBB
Abdulsalaam Abubakar
Patience Jonathan, etc

These are the same people you guys are worshipping

Jeffyblaq:
Well said!
Take a look at wats happening in Beirut, Lebanon.. Everyone came out and occupied the streets.. Announcing that all ministries should be occupied and the politicians executed..

Way to go if I am to say..

Even some of the soldiers had to plead and ask for forgiveness when asked the question "which side are you guys? For us or against us.

I stopped thinking bout this contraption after seeing a whole lot of craps argued on the internet.

The change is not yet here..

Let the suffering continue!

Gbam!!! On point Sir.