reason why subsidy claims more than doubled was during the yaradua days when the cabal was in charge.
in 2006, only MRS, TOTAL and OANDO were officially listed as beneficiaries of the fuel subsidy recognised by the Federal Government. The three companies were said to have been listed as “major marketers.”
In the following year, 2007, AP and MOBIL joined the three companies and became listed under the category of majors. The same year NIPCO was introduced and listed under the category of petrol depot owners.

AITEO Energy Resources and TRIQUEST Energy were also added in 2007, bringing the total to eight beneficiaries of the fuel subsidy.

Our reporters gathered that the list of subsidy beneficiaries increased sharply in 2008, rising to of 23, including six majors. Also in 2008, CONOIL and NIPCO were joined by Capital Oil and Folawiyo Energy, under the category of depot owners.

The list of independents also increased from two in 2007 to 14 in 2008 as AITEO and TRIQUEST were said to have been joined by TONIQUE Oil services, IMAD Oil & Gas, Integrated Oil and Gas, Rahamaniyya, AMG Petro Energy, Brittania, ACORN, A-Z Petroleum, SHIELD Petroleum and MAJOPE Investment Limited.

And in 2010, while the beneficiaries of the subsidy payment under the category of major marketers remained steady at six and the depot owners remained two, the list of independent marketers jumped up to 28, with the curious inclusion of many relatively unknown and unheard-of companies.
From data obtained from the Petroleum Products Pricing Regulatory Agency’s website, retail price for petrol is N65 while the expected price is placed at N139.69. This amounts to a subsidy of N74.69 per litre.
The expected price of N139.69 was arrived at by adding a margin of N15.49 to the landing cost of the product, which is N124.20 per litre, according to data on the PPPRA website.
Nigeria consumes about 32 million litres of petrol on a daily basis and at N74.69 per litre of subsidy, the marketers share over N2.4bn daily.
each marketer both major and independent submits its own bill, whereas if they were say 5. the total cost would definetly not top 700 billion

It emerged Tuesday that construction works on the much-awaited three Greenfield Refineries in Lagos, Bayelsa and Kogi States will commence in July 2012, one year behind schedule.

THISDAY also gathered that the plants are still to be built in Brass in Bayelsa and Lokoja, Kogi State capital, as originally planned.

However, the plants in Kogi and Bayelsa will now have the capacity for 100,000 barrels per day (bpd) each, while the one to be located in Lekki, Lagos, will have the capacity for 200,000 bpd.

The Nigerian National Petroleum Corporation (NNPC) and the China State Construction Engineering Corporation (CSCEC) Limited in May, last year, signed an agreement for the joint sourcing of funds for the construction of the three new Greenfield Refineries and a petrochemical plant in Nigeria under a $28.5-billion provisional deal.

The initial plan was that each of the new refineries would be able to process around 250,000 barrels of oil a day, potentially meeting Nigeria’s estimated need of 750,000 barrels per day over the next 10 years.

But an update on the project obtained Tuesday by THISDAY revealed that the decision to downsize the capacities of the plants was based on the new Detailed Feasibility Study (DFS) prepared by Wood Makenzie & Foster Will.

It also showed that the Industrial and Commercial Bank of China (ICBC), the world’s largest bank, is to provide 80 per cent of the $11.3 billion now budgeted for the project, while the NNPC will provide 20 per cent equity, to be diluted for private sector participation later.

A source familiar with the deal however hinted that the Front End Engineering and Design (FEED), site preparation and infrastructure would start in February 2012, while construction would start in July, with completion slated for 2015.

He explained that the plan to drop Kogi from the deal was later shelved.

THISDAY also confirmed that officials of CSCEC arrived Nigeria Tuesday ahead of Thursday’s signing of Definitive Agreement with the NNPC on the three refineries.

The NNPC had stated that the new refineries, when completed, would help to eliminate the country’s current reliance on imported petroleum products and position it (NNPC) to engage profitably in the international trading of refined petroleum products.

The parties had planned to build two Greenfield 300,000 barrels per day refineries – one each in Lagos and Bayelsa – and a 150,000 bpd refining plant in Kogi and a gas refining/petrochemical plant based on the gas pipeline network envisaged under the Gas Master Plan.

The project was envisaged to add 750,000 barrels per day of extra refining capacity to Nigeria’s current 445,000 barrel per day refining capacity as well as stem the flood of imported products into Nigeria.


http://www.thisdaylive.com/articles/construction-of-greenfield-refineries-to-commence-july-amp-8216-12/105513/






Its about time, I really hope they follow through with feasiblity studies especially one the one proposed for lokoja

Please people should respect eachothers faith, No true muslim supports the acts of these terrorists

@ toba. Corruption is our major problem, but its so deep that it may not go away for several years to come, the govements subsidises health, education and agric partly through fertilizer distribution, corruption among top officials at all levels is holding our potentials. Do u support borrowing to to cover for subsidy?? Cos even the budget as it is is grossly inadequate even without subsidy.

Subsidy removal is inevitable for sustainable growth.after reviewing the budget I really appreciate the depth of the economic team led by madam mimister, I love the focus on agriculture vis--vis increased duty on rice and wheat, and cassava as a driving force, we really need to triple nonoil exports, we ve the capacity. However before implementation funds saved should not be disbursed to state and lgas cos that's double jeopardy, lga in 9ja are cash cows for state goverments and d level of corruption there is septic. We need okonjo to work on merging as promised and cuttin expenditure by MDAs, we don't need 42 ministers or ministries hundreds of sa ssa.so before subsidy comes into play because of the painful outcome on the short term, we must must ask for goverment to tighten their belt befor they ask us same

This is very Good. We need much much more

definetely multiple explosions are being plkanned for xmas, i only hope security community is taking not. loads of vital information would be gotten from these several documents houses and those injured. i am certain sss would. maybe they got something wrong about assembling, the op forgot to add kano as well

Based on calculations by LCC accorfing to their Ceo they estimate that three hundred cars wud pass per hour on just one toll. if all these money was going back to lagos state<.i wudnt be mad but its going to private individuals>> for now they shud reduce it, peeps posting are several miles away and dont even feel wats on ground. the traffic is annoying> it has o

they shud reduce it to 50 naira per toll

The road cost was 50billion

waterboading them wud bing lots of infomation out.

ASUU is unbeliveably annoying,
How productive can u be when u are seventy.
Only last year they had their allocations jerked up
their salary is going to be increased with implementation of minimum wage
what hope do the youth have when some never one to retire
they ask for autonomy but yet, they want goverment to increase funding
govt subsidy in oil health education is only going to stagnate,
recurrent expenditure for the year tops over two trillion
whilst capital is way lower.
some even have double employment in private hospitals.
I am sure the read through the proposed budget and noticed how uninspiring it is with huge wage bills

Dont mind those forever products people, they lay false claims

http://www.thenationonlineng.net/2011/index.php/news/30059-our-raw-deal-in-the-hands-of-malaysian-police-by-nigerian-students.html


majority of the students are into yahoo or drugs and easily get student visas

They grumble almost on a daily basis after suffering one form of humiliation or the other. Yet the majority of them find it extremely difficult to leave the hostile environment in Malaysia and head back home. That is the sad story of many Nigerians who are resident in Malaysia , particularly the students who are undergoing studies in various fields.
The number of Nigerian youths in Malaysia is estimated at about 4,000. This, of course, is unofficial, as many of them had entered the country illegally. But each time the Malaysian Police strike, both the saints and the sinners suffer.
The recent clamp down on Nigerians in the far east country was not only painful but humiliating. Neither the host schools nor the Nigerian High Commission in Malaysia could do anything to help the situation. The operation, codenamed ‘OPS TIONG’, involved many security agencies in Malaysia. It lasted for more than five hours from dusk to dawn. It was a raid Nigerian students in the country would not forget in a hurry. No fewer than 12 of them spent 11 torturous days in the Malaysian cell.
For one of the detained students, Nkem Okpa Obaji, who arrived the country in 2007, and currently a research student at the Institute of Technology Management of the Universiti Teknologi, Malaysia, life could not be more cruel. He was arrested in his sitting room around 11.35 pm on November 21, while he was watching a football match. It was a baptism of fire.
According to Obaji, he had never imagined that he could be subjected to such an inhuman treatment in his entire life. By the time it dawned on him that he would be sleeping in the cell, his psyche was dealt a big blow. He said it was the first time he would be arrested by the Police.
Obaji, who is billed to complete his studies in Malaysia in 2014, said he informed the Nigerian High Commission in Malaysia that some Nigerians, including himself, had been arrested, but he was disappointed with the response he got.
He said: “The first day we were put in cell, I called the High Commission. I told them that there was a massive arrest of Nigerians, including myself, the previous night. But the respondent told me that the High Commission could not do anything unless the Police informed them.”
While Obaji would not confirm or deny that some Nigerians are engaged in shady deals in the Asian country, he believes that the Police in the country had not been fair to Africans, especially Nigerians. “When policemen came to our apartment, they told us that the locals complained that some Africans were disturbing their neighbourhood and that was why they came. I feel they are unfair to Africans in general and Nigerians in particular. Also, majority of the locals don’t like Nigerians,” he said.
The university was said to have pledged to take up the matter with the security agency that arrested the students. In the report he was asked to submit to the university on the incident, a copy of which was made available to The Nation, Obaji wrote: “A team of policemen invaded our apartment at Ampang shortly after we finished watching the Indonesia – Malaysia football match of the South East Asia (SEA) 2011 Games.
“They searched the three rooms of our flat and the sitting room but did not find anything incriminating. They told us that they came because they received reports from the locals that some Africans living within the Condominium were disturbing.
“We told them that we were all students, but they queried, ‘If you are students, why do you have refrigerators in every room and how come you have 27 inches flat screen television?’ They also asked why almost everybody had laptop computers.
“Meanwhile, when they came in, there were two laptop computers in use. One of my flat mates was using his own in the sitting room where he was googling a particular topic relating to his school examination, which he was supposed to take at 10 am the next day, which he definitely missed as a result of our incarceration.
“They demanded for our International passports in order to determine the validity of our visas. These we presented to them and they verified their authenticity through phone calls to the Immigration Headquarters. They eventually confirmed that our passports were valid.
“While the verification was still going on, local journalists bumped into the house and started covering the incident. When we understood some of the Malay words (e.g. tipu and menipu) used by the journalists during the coverage, we sharply resisted the coverage and drew the attention of the police team. Immediately, the journalists stopped the coverage and went outside the door.
“After this, the team wanted to check all our laptop computers in the house, but suddenly, another police officer, who claimed to be their boss, came in and told them that all of us would be going to the station where they would check our laptops, visas and urine, and that if no problem was found, we would immediately be released. So, they brought out handcuffs and chained all of us together. The whole event depicted the slave trade era.
“As we were about to leave the front door of our flat, cameramen started taking pictures and recording us, which we protested against. Unfortunately for us, we were already in chains and we couldn’t do much.
“When we got downstairs, we found that other Africans were already inside their vehicles. When they found that the vehicles would not be enough for all of us, they called for the Black Maria. When the Black Maria came, they transferred all of us into it and zoomed off in a convoy to a location we all thought to be Bukit Aman Police Headquarters. But in the morning, we were told that the place was Police Training School at Jalan Semarak opposite UTM City Campus, KL.
“When we got to the training school, they just dumped us on the cold floor of the hall with the handcuffs still on all of us and started doing our documentation, which lasted up till 10 am the next day. After that, they took us back to Ampang Jaya Police Station. In the course of the documentation, they called us one by one and hung a tag around our neck with Bukit Aman inscription and assigned a number which ended with “/2011”. They asked each of us in turn to hold the tag while they took our pictures both in Portrait and landscape formats.
“At the Training School, we saw other Africans arrested who were from other parts of KL which include among others, Cheras, Kepong, Pandah Indah, Sentul.
“When we arrived at the Ampang Jaya Police Station, they removed the handcuffs and registered our personal belongings like phones, wallets, belts and shoes. After that, they put us in the cell.
“It the cell, on the first and second days, the tap flowed. But after the second day, there was no more water. After every meal, they gave some inmates who were lucky to get a small quantity of water in a water proof plastic bag to flush the toilet and clean up.
“They served us little quantity of rice every day. In some cases, especially in the morning, one slice of bread and a sachet of local flavoured drinks, which contains a lot of sugar, which is against what most of us need in our system. All through our incarceration, they didn’t give us even a drop of drinking water.
“On Monday November 28, 2011, they brought us to the investigation office where we met for the first time the police officer in charge of the case. She called us one after the other to provide our basic information like name, nationality, passport number, name of school, family background, etc. After that, they took us back into the cell.
“On Wednesday November 30, 2011 , she called us again to the investigation room and checked our passports/visas and informed us that she would be going to Putrajaya for the verification of our visas and passports.
“On Thursday December 1, 2011, around 6 pm, they called us to meet the Investigation Officer in the investigation room. At this time, she told us that we had been released but that our registered belongings, including our mobile phones, wallets and house keys would be collected the next day as the office where our belongings were had closed for the day.
“On Friday December 2, 2011 , around 9.am, we went to the Ampang Jaya Police Station and collected our registered belongings. On the same Friday December 2, 2011, around 6.pm, we went to the Bukit Indah Police Station to pick our laptop computers.”
Obaji said he was still trying to get back to his normal mental state, which he said was “bruised as a result of the incarceration. In my wildest dream, I never expected myself to be in that kind of situation.”
Another student, Wole, (surname withheld), expressed fear over the hostile attitude to blacks and Nigerians in particular. According him, while the raid was going on, the security agencies involved invited journalists from the print and electronic media to record the proceedings.
“My colleagues were handcuffed and hurled into a Black Maria like common criminals. These are students with valid papers. Despite having valid visas, some were kept in police net for 10 days before they were released,” he said.
Wole, who is currently a Ph.D. student in one of the leading universities, was miffed over the way the whole matter was handled by the High Commission. He said things could have been better if the High Commission had acted promptly. “Our embassy refused to help these people despite the fact that those who were arrested registered with the embassy. Malaysian security agents are out to tarnish the image of Nigerians in Malaysia,” he added.
All efforts made by one of the universities to vouch for one of the students were said to have been rebuffed by the Police.
Wole said the authorities at the Universiti Teknologi , Malaysia , called the Police but they refused to entertain their plea. “Universiti Teknologi, Malaysia , is ranked No.1 in Malaysia. There, you see many Nigerians,” said Wole.
Wole is constantly living in fear because Malaysian security agents would come down on them if their names and photographs are published in the newspapers.
As if to confirm the alleged contempt the Malaysian authorities have for Nigerians, the security agents allegedly refused to apologise to the unjustly detained Nigerians, even when they did not find anything incriminating on them.
A new twist was added to the arrest saga when Orugo, a Ph.D. graduate who had been at the forefront of the battle for the release of the detained students was arrested a few day after the 12 detained Nigerians were released. Orugo, who got a very outstanding award for his performance in the Ph.D. class, was himself allegedly detained for five days. It took the intervention of his lawyer to get him off the hook of the Malaysian security agents. As a measure of appreciation of his brilliant performance, The Nation gathered that Orugo has been engaged to lecture at the Universiti Kebangsaan.
However, some sources said while the Malaysian security agents should be blamed for allegedly irrational arrests, the attitude of some Nigerians leaves much to be desired. Early this month, a 32-year-old Nigerian, whom the Malaysian Police accused of dealing in illegal drugs, was shot dead on his hospital bed. According to a report, the Malaysian Police said they did so in self-defence because the Nigerian allegedly ran amok and overpowered a policeman.
In October 2007, two Nigerian students were found dead in their rooms. The two were business information systems freshmen. Though described as brilliant by the authorities of the school, some argued that they were probably killed by an overdose of drugs.
Some Nigerians in Malaysia are believed to sometimes make life difficult for those with genuine intentions. A Nigerian was once reported to have connived with his Malaysian girlfriend to fake her (girlfriend’s) kidnap. According to the report, the Malaysian lady and her Nigerian boyfriend were arrested by security agents for an alleged attempt to get a ransom of US$500,000 (N76, 124,988) from her father.
The cry of persecution by some Nigerians also attracted condemnation from a student, Paul (not real name), who is currently undergoing a Ph.D. programme in Malaysia . He was a lecturer in one of the private universities in Nigeria before he left for Malaysia. Paul disagreed with the arrested students. According to him, “Malaysians are good to us. Some of these Nigerians constitute a nuisance here. It is so bad that it is difficult to greet your fellow Nigerians, even if they have their papers. They actually need to arrest those Nigerians,” he submitted.
When this reporter told him that the arrested people have valid papers, he said curtly: “If they have their papers, they (Police) will never do that to them. Ask them what they are doing in Malaysia.”
He said he would probably do worse than the Police if he were a part of the system. “I would have probably done worse. I just hate some of these Nigerians. They make life difficult for us, doing all manner of rubbish,” he said.
Meanwhile, in spite of the negative perception, some of the students are doing quite well. For example, in October, this year, 51 Nigerians bagged Ph.D, while 36 successfully completed their Master’s degree. One of them, Khadija Adedoyin Opatokun, who graduated with M.Ed in Education Administration, earned the best Master’s Student Award of the institute of education in one of the universities.
A message was sent to both the Nigerian High Commission in Malaysia and the Malaysian High Commission in Nigeria for their official comments on the allegedly indiscriminate arrest of the Nigerian students, but at the time of filing this report, there had not been any response from either of them.

they malls are privately built

its the same chagoury peeps that owns it. remember abacha. also linked to hitech and lcc. lets be hopeful

Lagos state goverment paid LCC several billions because the tollection was postponed. Election was on his mind, however these is criminal, I suggest it shud be brought down to 50 naira .

i yearn to see this project kickstart

Coincidence abt planned priv in january and these

I agree with u.Corruption is our biggest problem.time is short, we need a working budget.

Nigerias fuel subsidy removal is inevitable because we wud have to borrow. Let's not pass the burden to the coming generation. Deficit would ballon out of control. However something has to give, It should be time to cut recurrent. Spread the burden even to public officials.

Pure sabotage

Merging of Mdas, we do not need 42 ministers.50 special advisers and hundreds of special assistant and senior special advicer. 15 hard working nigerians wud save this nation a great conduit for passage of ill wealth. a body that wud focus on corruption @ lga and state, seperate and more dedicated than that @ fed, In terms of macros, Budget is ok,

!BRAVO GEJ, this is what we expect, To be sincere policies in the budget are apt, Wheat and rice duty increases wud boost agriculture, Which could sustain non oil growth, In as much as we condemn, plets be rational, Nigeria is challenging. Let's not let them budget our ruin.

Great news. Corruption wud be drastically reduced. This shud be the highest earner of igr to the goverment however reverse has been the case. I am expectant of this ministry

Its a budget of contradictions really, my advice fellow nigerians is to brace up for a tough 2012. My angst @ the budget is the huge recurren expenditure, if politicians are toying wit our lives, I think we should toy with their source of livelihood. Scrap federal character, scrap minstry of state for watever. We can't afford them, the budgetary allocation to n/a should be cut drastically.allocations to works is so dismal, that should cover for only 6 soid roads in the whole year. No matter how much insecurity there is, the amount bandited is too much. Maybe 600-700 billion will do. They forget that massive unemployment From a harsh climate is a precipitant for further insecurity. The benefits of removing fuel subsidy doesn't outweigh the side effect, ASUU should go and sit down.lazy arses

am so dissapointed in the response, its clear that he is guilty of the offence, but the judges were persuaded to free the case because so many our so called leaders past and present also run or ran foreign accounts during thier time in office

President Goodluck Jonathan Monday admonished public office holders to bring smiles to the faces of Nigerians or risk what he called possible youth revolt in the country.

“In the coming years, youths will revolt against any president or state government if we do not come up with policies that will create jobs,” he said.

Jonathan gave the admonition in Lokoja, Kogi State, at the grand finale of the rally organised by the Peoples Democratic Party (PDP) ahead of the governorship election taking place in the state on Saturday.

The president challenged public office holders at all levels of government to ensure that policies that would multiply jobs for the youths were implemented.

He said: “There are a number of things that must be done to  make our economy multiply.”

He also said the paramount among such things, “is to create jobs for the teeming youths,” failure of which he said, the youths could embark on revolution against governments at all levels.

He added that his government at the federal level was hoping to work with those he had appointed to facilitate the transformation agenda, especially provision of jobs for youths, even at the state level, saying: "We do not want selfish leaders."

The president, however, expressed optimism that the governorship candidate of the PDP, Mr. Idris Wada, and his running mate, Mr. Yomi Awoniyi, would translate the Federal Government's development programmes in the state.

He noted that Awoniyi was one of the 16 persons engaged by his government to highlight the needs of the states and as such, would be able to narrow such down to Kogi State to ensure rapid development.

Jonathan also appealed to politicians to desist from shedding blood and killing in the name of election.

He warned: "Our aspiration is not worth the life of anyone," stressing that, "our election will not be entertained with violence and that is why if we win elections and some people go to court, they are just going to fulfill all righteousness”.

He expressed the hope that the party's candidate and the running mate would excel at the election, adding that the purpose of his coming along with top PDP members was to campaign for the election of someone that would continue with the “developmental strides” of the outgoing Governor Ibrahim Idris.

The president also promised to incorporate Kogi State into the centenary celebration of Nigeria in 2014 being the first administrative headquarters of Nigeria.

Jonathan has vowed to resuscitate the comatose Ajaokuta Steel industry as no viable economy could grow without a functional steel industry.

He said the place of steel in the realisation of the Vision 20:2020 could not be over-emphasised, especially as the country plans to go into production of goods.

Jonathan stated this in a parley with Kogi State government officials Monday in Lokoja, where he explained that reviving the steel industry was not only in the interest of the people but in the overall interest of the economy.

He noted further this was also hinged on the response by Governor Abubakar Audu’s request to have the complex revived.   

“Our dream of Vision 20:2020 will be an illusion if we do not develop our steel sector. We are totally committed to the Ajaokuta Steel Project. It is not a project for Kogi alone. It is a project for all Nigerians, which just happens to be in Kogi.

“We are inviting manufacturers to set up factories in Nigeria and we know that we must come up with appropriate economic policies, such as prioritising the development of our steel sector, to create conditions that will encourage the expansion of the industrial base of our economy and the production of more goods in our country,” Jonathan said.

He assured them that in his onerous desire to rebuild the economy, create jobs and wealth as well as improve the living standards of the people, he will explore every viable option to achieve those goals.

Meanwhile, the Independent National Electoral Commission (INEC) in Kogi State has said that it is ready for Saturday’s governorship election in the state.

Director, Public Affairs, INEC, Mr. Emmanuel Umenger, who gave the assurance, said with the conclusion of the recent Continuous Voter Registration (CVR) exercise, engagement and training of 7, 973 ad hoc staff members and the level of preparedness of security agencies, the electoral body was set for the election.

Umenger said: "Kogi State has a total of 2,548 polling units and that in order to speed up the voting process, 4,444 voting points of 300 voters each have been created.”

The INEC spokesperson noted that at the conclusion of the CVR, a total of 1,333,312 voters are expected to vote during the election with 19 candidates in the race.

According to him, INEC is relying on the electorate in the state to conduct themselves in peaceful and orderly manner to enable the commission conduct free, fair and credible governorship election in the state.

http://www.thisdaylive.com/articles/jonathan-we-must-create-jobs-or-risk-revolution/103873/

FACE:

I wonder as well. Maybe there is now an inverse fractionating process. Even at that, PMS would still be a by product.

Deregulation is the way to go and removal of subsidy is necessary to drive private investments in refineries.

this is great news, how about reserving a bit of crude oil for local consumption, since opec even regulates what we export,

If it is true, then 2015 would be hot

AM NOT CONVINCED.