PhiliptheArab:


1.I am aware of all the looting...but even then the amount looted won't be enough to fix things. You need far more money than what has been looted under PDP and APC to have a running and exporting petroleum products industry.

2.We can't fix refineres because subsidies means that fuel would be at the end of the day sold below the production cost.....which means any refinery in Nigeria would be working at a loss and not making enough money to keep functioning properly (which is why all our refinereis are in a mess in the first place.). It is for that same reason that we can't build new refienres. Whybuild a new refinery, refine fuel above N160 NAIRA and sell at N120 NAIRA (labour price ) N90 (Atiku price) N86 (gej supporters price) or N40 (Buhari supporters price).

You won't make a profit to be able to keep the refienry running.

Niger has the same level of crrupt and inefficent leaders...and their fuel industry wroks because the government does not intervene to force fuel to be sold below N150 per liter. Instead they sell fuuel at N350 per liter and earn enough profit to have a great well runnign refinery...that was even built as a JV...and exports to three African countries...Nigeria is no 4.

Yes, our leaders are corrupt...but if you made bread at N200 a loaf, and sold it at N50 a loaf, and acceted a subsidy oof N30 per loaf sold....you won't make enough profit to even fix your machines when they break.

So how will we buy fuel at N350 per litre from Niger and sell at 170?

The humor about this thread are the number of conspiracy theories that apparently see this deal as a plot for the fulanis to take over Nigeria

Well, if Nigerians had allowed deregulation in 1993 when it was first proposed in the wake of the issues that nmpc was having funding the tam of the refinreis then, we could have been a major exporter of refined petroleum products by now, not just thw crude

But we callled the people who warned us IMF stooges and kept on the course we were on

As a result, see where we are.

Our refineries are not working because we have until recently refused to sell petrol at a profit. Noy because of some evil plot by the fulanis.

I just have one thing to say. The politicians in this country are demons nothing else. I've never seen a group of people who hate this country like our politicians. Imagine Niger who is supposed to import fuel from Nigeria. Our country is shamelessly signing a deal to import fuel from Niger.

Agbegbaorogboye:

So how will we buy fuel at N350 per litre from Niger and sell at 170?

That's why we must deregulate.

I Love PMB

IBBG:
I just have one thing say. The politicians in this country are demons nothing else. I've never seen a group of people who hate this country like our politicians. Imagine Niger who is supposed to import fuel from Nigeria. Our country is shamelessly signing a deal to import fuel from Niger.

Because for decades we sabotaged our refining capacity by selling fuel below the cost of its production.

As a result it became more profitable to import fuel than to refine it at home. It also became en vogue to sabotage refineries since they were not making enough of a profit for their upkeep( and sabotagr means you can make some money from maintenance costs)

Meanwhile, poor Niger sells fuel at N350 per liter. And as such they have the cash to keep their refinery in tip top shape.

(And also that is why smugglers smuggle subsidised Nigeria fuel to Niger. )

PhiliptheArab:


That's why we must deregulate.

Ah. Deregulate again?!!
Have we not done that already

Agbegbaorogboye:

So how will we buy fuel at N350 per litre from Niger and sell at 170?

Nigeria is not buying fuel from Niger. We are helping them evacuate their excess crude oil.
Niger has a 20,000 barrels per day refining capacity refinery but it can only refine 5000 bpd.
So Nigeria will help them by mopping up that their 15000 bpd . Fuel is not the only thing you can get from crude oil.

Agbegbaorogboye:

Ah. Deregulate again?!!
Have we not done that already

Until i see the private sector controlling prices and not NNPC or the dpr , then i believe.

I don't trust the apc government or their pdp counterparts

Plus, we should have deregulated back in 1993.

mosdii:
We are not even ashamed of ourselves as a major oil producing nation.

Small Niger has a working refinery that refines 20,000 barrels more than the three dormant refineries we have in this country.

Niger will now be supplying us pms...what a shame and disgrace to the almighty giant of Africa.

For Nigeria to agree to a deal like this, there is something fishy or something behind.
Is either the owner of the refinery is a Nigerian (probably a top government official or politician) or it is a tit for tat deal.

For over 60 years of oil exploration in the country, we have not been able to export refined product for once. With this deal now, direct and indirect jobs will be created in Niger, IGR will rise in Niger and also the country's GDP will increase significantly.
Niger is leveraging on the inadequacies of our failed policies.

That is the best the Fulani govt can bring to us. Obviously it still buttress the fulanization of the country. They always think that they are the best and should always rule.

PhiliptheArab:


Well, there are at least 4 refineries ongoing in the South ( dangote inclusive) one in imo, one in rivers and one in edo...and then there is Dangote

There could be more if NNPC allows marketers the right to control the price of the crude they sell ie total deregulation which would make refining petrol profitable in Nigeria.

Dangote refinery , and the one at IMO , I know, which other ones in the south, cos the last time I checked it was kpo fire refinery in rivers.

You see if Dangote is from SE or SS, they will say Buhari is out to kill the business of their brothers in order to help his fulani brother in Niger. In fact, they will tell us that the owners of that refinery are Fulani men. Just like reducing import duties on tax was to kill their brother's Innoson business and pave way for.... Anyway, we can not have refineries in Nigeria working because of cabals that were built and nurtured by PDP.

These cabals preferred getting billions of naira monthly for salary of non-existing employees and turn around maintenance than making it work for the benefit of the Nigeria population. Hence, the decision of the government to sell it and help private to build a working refineries in Nigeria. Tentatively, now that we have full deregulation, it is better to negotiate with business that we can get our fuel at cheaper rate.

I don't know the content of the MoU, but the quote below extracted from the post, shows it will be more beneficial to Nigeria, until we can sufficiently produce want we need, if there is no sabotage.

He said: “This is a major step forward. The Niger Republic has some excess products which need to be evacuated. Nigeria has the market for these products. Therefore, this is going to be a win-win relationship for both countries. My hope is that this is going to be the beginning of deepening trade relations between Niger Republic and Nigeria.”

quentin06:


Dangote refinery , and the one at IMO , I know, which other ones in the south, cos the last time I checked it was kpo fire refinery in rivers.

Edo has a private refinery being built there as does rivers.

I also beleive Delta has one.

There is a gas project elsewhere in the SE.

PhiliptheArab:


Until i see the private sector controlling prices and not NNPC or the dpr , then i believe.

I don't trust the apc government or their pdp counterparts

Plus, we should have deregulated back in 1993.

1. The private sector can't control prices because they don't import/produce the petrol. They are simply distributors. Pricing rests with the provider not the distributor in this case, NNPC. I'm sure you'll agree that if private sector who are mostly marketers are allowed to fix prices, what you'll have is a middlemen economy which ultimately leads to price gorging as we have in rice right now with fantastic profit for the middlemen and exploitation of the consumer.
2. Deregulating in 1993 is not an answer. What we should interrogate is how we managed to crumble four refineries!! I doubt any country in the world hold such dubious honour.
And please, it's not subsidy that crumbled those refineries. That's an easy excuse being pushed by neo-capitalists. The refineries were killed by corruption. Same corruption that killed our airways, rails, roads and even power.

DamnnNiggarr:


https://www.vanguardngr.com/2020/11/just-in-fg-signs-fuel-transportation-storage-deal-with-niger-republic/amp/?__twitter_impression=true

That is one of the main reasons they dont want any refinery to work in Nigeria with exception of dangote refinery to further enslave the whole country to fulani malady.

Silvia will be excited about it because he has lost his bearing cos of stomach infrastructure.

Posterity will judge Silvia, amechi, Tinubu, osomole etc for the evil they brought upon this country

PhiliptheArab:


Niger, Benin and many other African countries buy fuel at higher prices than we do, and many of them are just as poor or even porrer than we are.

So we should buy PMS at #400 so we can be poorer?

This argument will not be fruitful but I will make it anyway, for the benefit of people reading through. The price of PMS is not what made the Nigerian economy unstable or made our refinery not to work. Simply put, it's the irresponsibility of the government over time that brought us at this point.

The monies that has been stolen by every administration is more than enough to build new standard 200000 capacity refineries every four years without the masses having to battle with poor wages, high cost of food commodities, rent and transportation.

The argument from capitalist business school always completely disregard the 99.9% main issues bedeviling third world countries. And rather, they focus on coming up with recommendations and policy framework to treat 0.01% of the issue. And they know the greedy mofos we have at the helm of affairs will always accept it since the economic reality of the masses is not their reality.

Even if PMS sells for #1000 per litre, while maintaining the same style of management of our commonwealth we will continue to import fuel or worse still would have doubled the current figures of being the poverty head quarters of the world.

This argument for deregulation was made with cement and today we know better. The housing deficit of Nigeria keeps expanding. At the last count it was about 17 million units. How has the privatization of government owned cement companies and the following price increases of cement aided Nigerians in building their houses?

What an average Nigerian understands is that is that since government institutions don't work we should sell them to private sectors and increase price. But let me shock you. Since Babangida's regime that pursued the privatization agenda move than 400 state owned companies has been privatized and only about 10% are still operating today. What happened? Same issues of irresponsible leadership that watch as the so called entrepreneurs like Jimoh Ibrahim and co asset strip the companies and abandon them.

In summary, let's stop talking nonsense about price of PMS being reason for the sorry state of the Nigerian economy.

Okoroawusa:

Nigeria is not buying fuel from Niger. We are helping them evacuate their excess crude oil.
Niger has a 20,000 barrels per day refining capacity refinery but it can only refine 5000 bpd.
So Nigeria will help them by mopping up that their 15000 bpd . Fuel is not the only thing you can get from crude oil.

I had to go back and read the op again when I saw your claim. Read again carefully.

He explained that Niger Republics Soraz Refinery in Zinder, some 260 kilometres from the Nigerian border, has an installed refining capacity of 20,000 barrels per day, the country’s total domestic requirement is about 5,000 barrels per day, BPD, thus leaving a huge surplus of about 15,000 bpd, mostly for export.

The time you spend loving PMB should be better spent in comprehension classes.

PhiliptheArab:


Well, there are at least 4 refineries ongoing in the South ( dangote inclusive) one in imo, one in rivers and one in edo...and then there is Dangote

There could be more if NNPC allows marketers the right to control the price of the crude they sell ie total deregulation which would make refining petrol profitable in Nigeria.

This your suggestion will make price of petrol go higher than expected, knowing fully well that oil and gas business is just like a monopolistic market. We have less than 10 oil marketers in this country, they can easily form a cartel or cabal and decide to exploit Nigeria just like rice farmers. With all incentives, grants and supports that both FG and state government have given to this rice farmers, the best local rice shouldn't cost more than N15,000. But today, we know the price, in fact, some retailers now bag foreign rice into local bags of rice to sell above the cost of foreign rice.

Johnrake69:


So we should buy PMS at #400 so we can be poorer?

This argument will not be fruitful but I will make it anyway, for the benefit of people reading through. The price of PMS is not what made the Nigerian economy unstable or made our refinery not to work. Simply put, it's the irresponsibility of the government over time that brought us at this point.

The monies that has been stolen by every administration is more than enough to build new standard 200000 capacity refineries every four years without the masses having to battle with poor wages, high cost of food commodities, rent and transportation.

The argument from capitalist business school always completely disregard the 99.9% main issues bedeviling third world countries. And rather, they focus on coming up with recommendations and policy framework to treat 0.01% of the issue. And they know the greedy mofos we have at the helm of affairs will always accept it since the economic reality of the masses is not their reality.

Even if PMS sells for #1000 per litre, while maintaining the same style of management of our commonwealth we will continue to import fuel or worse still would have doubled the current figures of being the poverty head quarters of the world.

This argument for deregulation was made with cement and today we know better. The housing deficit of Nigeria keeps expanding. At the last count it was about 17 million units. How has the privatization of government owned cement companies and the following price increases of cement aided Nigerians in building their houses?

What an average Nigerian understands is that is that since government institutions don't work we should sell them to private sectors and increase price. But let me shock you. Since Babangida's regime that pursued the privatization agenda move than 400 state owned companies has been privatized and only about 10% are still operating today. What happened? Same issues of irresponsible leadership that watch as the so called entrepreneurs like Jimoh Ibrahim and co asset strip the companies and abandon them.

In summary, let's stop talking nonsense about price of PMS being reason for the sorry state of the Nigerian economy.

Well said. Very well said.

Agbegbaorogboye:


I had to go back and read the op again when I saw your claim. Read again carefully.

The time you spend loving PMB should be better spent in comprehension classes.

Hahahaha!

My love for PMB is paining you. Now read the part you quoted from the post and my explanation n ask yourself who actually needs that comprehension class.

PhiliptheArab:

Edo has a private refinery being built there as does rivers.
I also beleive Delta has one.
There is a gas project elsewhere in the SE.

.Those are not refineries, they re tank farms.

Big lie another avenue to transport our crude to Niger Republic to their Refinery, just as think they retweet our minds to believe this evil. Nonsense

mosdii:
We are not even ashamed of ourselves as a major oil producing nation.

Small Niger has a working refinery that refines 20,000 barrels more than the three dormant refineries we have in this country.

Niger will now be supplying us pms...what a shame and disgrace to the almighty giant of Africa.

For Nigeria to agree to a deal like this, there is something fishy or something behind.
Is either the owner of the refinery is a Nigerian (probably a top government official or politician) or it is a tit for tat deal.

For over 60 years of oil exploration in the country, we have not been able to export refined product for once. With this deal now, direct and indirect jobs will be created in Niger, IGR will rise in Niger and also the country's GDP will increase significantly.
Niger is leveraging on the inadequacies of our failed policies.

Okoroawusa:

Hahahaha!

My love for PMB is paining you. Now read the part you quoted from the post and my explanation n ask yourself who actually needs that comprehension class.

Toh.
Nigeria is not mopping up excess crude. We don't even have refining capacity so what do we need crude for?
We or PMB's govt rather, is looking to import refined products from the 15,000 excess capacity that Niger's refinery has.
Hope you understand now.
Mind you, i couldn't care less who you choose to love. It's your bowl of gbègìrì. I just hope whatever you're getting from the lovefest favours you ultimately.

Agbegbaorogboye:

1. The private sector can't control prices because they don't import/produce the petrol. They are simply distributors. Pricing rests with the provider not the distributor in this case, NNPC. I'm sure you'll agree that if private sector who are mostly marketers are allowed to fix prices, what you'll have is a middlemen economy which ultimately leads to price gorging as we have in rice right now with fantastic profit for the middlemen and exploitation of the consumer.
2. Deregulating in 1993 is not an answer. What we should interrogate is how we managed to crumble four refineries!! I doubt any country in the world hold such dubious honour.
And please, it's not subsidy that crumbled those refineries. That's an easy excuse being pushed by neo-capitalists. The refineries were killed by corruption. Same corruption that killed our airways, rails, roads and even power.

1. If you buy fuel at 200 naira and sell it at n120 or below you won't make a profit

Infact you would even fuel the corruption and sharp practices there since everyonr would be gaming the system to make money

Deregulation would allow everyone make their money and would even make refining more attractive because of the fact that now everyone makes their profit, and government saves money that would have been used to subsidise fuel

2. Here is one of the reasons why i oppose subsidy

In 2011 we imported fuel at 99 naira per liter. By 2015 it had risen to 132 per liter

Meanwhile in 2011, we were selling fuel at N65. Government increased it to N97 in 2012 and then reduced it to N86 by 2015

Back then everyone was importing fuel. Nnpc did not become the sole importer till 2017.

And to cover the difference between cost of impprt and sale price, government was paying a subsidy that kept on going up.

Add the fact that fake subsidy claims were being made plus the fact that fuel smuggling was going on because fuel was more expensive in our neighbours like Niger. And that was happening because government was finding it difficult to pay rising subsidy costs which in turn made marleters engage on sharp practices to earn enough money to keep their head above water (artificial scarcity was yhe thrid sharp practice they did)

Even now that NNPC is the sole importer since 2017 they have to use their own money to subsidse fuel before they sell it to marketers. That does not make sense.

If thete was deregulation, yes marketers would have exploited us, but there would have been enough profit in the system to make refining fuel at home more attractive

3. To be honest, you seem to have the idea that capitalists make money to keep in their pockets. No. They make money to invest in money growth which means more jobs and such like.


4. Nigeria does not have enough money to even pay for any subsides. Our breakeven crude price is 139 dollars per barrel. Oil has not been at that price for ages ( which is why we habr always been taking loans even during GEJ regime andalso why GEJ wanted total deregulation).and even now it is at 42 per barrel.

So basically it seems you want our government to take more loans.

class1x:
Big lie another avenue to transport our crude to Niger Republic to their Refinery, just as think they retweet our minds to believe this evil. Nonsense

What is the big lie here?

TGM2015:


This your suggestion will make price of petrol go higher than expected, knowing fully well that oil and gas business is just like a monopolistic market. We have less than 10 oil marketers in this country, they can easily form a cartel or cabal and decide to exploit Nigeria just like rice farmers. With all incentives, grants and supports that both FG and state government have given to this rice farmers, the best local rice shouldn't cost more than N15,000. But today, we know the price, in fact, some retailers now bag foreign rice into local bags of rice to sell above the cost of foreign rice.

On the plus side there is enough of a profit for NNPC to actually fix refineries and for refining petrol to become profitable in nigeria

Plis government saves money and reduces its dependence on loans

Okoroawusa:

Nigeria is not buying fuel from Niger. We are helping them evacuate their excess crude oil.
Niger has a 20,000 barrels per day refining capacity refinery but it can only refine 5000 bpd.
So Nigeria will help them by mopping up that their 15000 bpd . Fuel is not the only thing you can get from crude oil.

Look at this one, what is the difference between 6 and half a dozen? Nigeria is not buying their fuel but helping them to evacuate their excesses So the excesses Nigeria helps to evacuate for Niger will be given to us free of charge? As in Nigeria won't pay for it?

I can see you've finally gone bananas. SMH!

Johnrake69:


So we should buy PMS at #400 so we can be poorer?

This argument will not be fruitful but I will make it anyway, for the benefit of people reading through. The price of PMS is not what made the Nigerian economy unstable or made our refinery not to work. Simply put, it's the irresponsibility of the government over time that brought us at this point.

The monies that has been stolen by every administration is more than enough to build new standard 200000 capacity refineries every four years without the masses having to battle with poor wages, high cost of food commodities, rent and transportation.

The argument from capitalist business school always completely disregard the 99.9% main issues bedeviling third world countries. And rather, they focus on coming up with recommendations and policy framework to treat 0.01% of the issue. And they know the greedy mofos we have at the helm of affairs will always accept it since the economic reality of the masses is not their reality.

Even if PMS sells for #1000 per litre, while maintaining the same style of management of our commonwealth we will continue to import fuel or worse still would have doubled the current figures of being the poverty head quarters of the world.

This argument for deregulation was made with cement and today we know better. The housing deficit of Nigeria keeps expanding. At the last count it was about 17 million units. How has the privatization of government owned cement companies and the following price increases of cement aided Nigerians in building their houses?

What an average Nigerian understands is that is that since government institutions don't work we should sell them to private sectors and increase price. But let me shock you. Since Babangida's regime that pursued the privatization agenda move than 400 state owned companies has been privatized and only about 10% are still operating today. What happened? Same issues of irresponsible leadership that watch as the so called entrepreneurs like Jimoh Ibrahim and co asset strip the companies and abandon them.

In summary, let's stop talking nonsense about price of PMS being reason for the sorry state of the Nigerian economy.

So let government spend more of our scarce resources on subsidy, let us miss out on investment in our oil industry which could generate jobs and lets let the corruption get worse because subsides fuels more corruption because you want fuel at 40 naira per liter?

All i can say is if you were a businesses person and government brought in price controls to your business you wouldn't like it

Are you surprised?

Buhari the terrorist's father is from Niger Republic, A Nigerian probably owns that refinery in Niger Republic. Do the Maths and you will know that Diezanni our former minister of Petroleum is learner when it comes to stealing by the APC and the Northern Politicians.

mosdii:
We are not even ashamed of ourselves as a major oil producing nation.

Small Niger has a working refinery that refines 20,000 barrels more than the three dormant refineries we have in this country.

Niger will now be supplying us pms...what a shame and disgrace to the almighty giant of Africa.

For Nigeria to agree to a deal like this, there is something fishy or something behind.
Is either the owner of the refinery is a Nigerian (probably a top government official or politician) or it is a tit for tat deal.

For over 60 years of oil exploration in the country, we have not been able to export refined product for once. With this deal now, direct and indirect jobs will be created in Niger, IGR will rise in Niger and also the country's GDP will increase significantly.
Niger is leveraging on the inadequacies of our failed policies.

That part of the deal as the man in ASO Rock is Jubril from Sudan... I weep for the future of our unborn child better someone should travel out of this country and start you own family there nothing good can come out of this shithole

Is this not the same country listed as fuel being sold at higher rate than here?
So how much will they be buying from there and retailing it to us if already the price is higher than here?
Don't really know how leaders reason at times.

Voiceofthestree:



That part of the deal as the man in ASO Rock is Jubril from Sudan... I weep for the future of our unborn child better someone should travel out of this country and start you own family there nothing good can come out of this shithole

Very embarrassing....