DaLover: This has made my day...
GEJ keep dishing out surprises to us...very impressive...i wish this had started earlier...anyway better late than never....

This combined with the constitutional confab should stop the feeding bottle federalism.
Thanks

tbagjames: hw much does it cost. i want to buy one for my mother in-law

PocketEconomist: Are you sure? That's the best thing to do. Privatisation is the wax to go. Let me educate you. If me and you use our hard earned money to buy the refinery, wouldn't you do your best to manage your property so that you keep making profit? That's the idea.

simpleseyi: Yes, it is very good. Jonathan sold PHCN Ikeja Distribution Company to Obasanjo and sold Eko and Ibadan Distribution Companies to Abdulsalam, How much did Obasanjo and Abdulsalam earn thtoughout their military years and even as presidents to be able to afford to buy PHCN? Now Jonathan wants to sell Refineries to IBB, T Y Danjuma, Edin Clark, Atiku Abubakar and others, so that Nigerians will be left with nothing. Please when are they privatizing the air we breadth so that it will be properly managed by the "private investors" ? God is watching everyone on a 5D television.

DaLover:

Luckily we have the on going power privatisation program to refer too, no single ethnic group in nigeria has the power to buy all the rerfineries...
secondly...how are refinaries national assets of strategic importance?
Refineries many places in the world are owned by private people

Merkki: Great news. The birthday gift I've been expecting! Who will buy me a refinery as a birthday gift?

tbagjames: hw much does it cost. i want to buy one for my mother in-law

kobikwelu:

how can you say the boldened??

okay..let me explain.....

Lets say in a country that has 20 refineries...one day these refineries decide to shutdown...what will be the effect on the country?
IT WILL BE UTTER CHAOS...

And in a place like Nigeria (even though we import more petrol than we refine locally) where basically all spheres of life depends on petrol...think of the effect....

Basically, NEPA, OUR REFINERIES....are our own strategic assets of National importance...

Another case..lets say in a war between two countries.....what are the major targets during the initial campaign?...REFINERIES, POWERSUPPLY, FOOD RESERVES...etc..

Kumalayer: Do u know how much mtn is getting out of we nigerians daily?,all in d name of dis privatisation,yet network problems still persist and hidden charges are countless,i hope dey wont start privatising our houses.

deepseel:
Does it mean we should also sell d country to private investors since it is nt working? The truth is dis government is selling us away bit by bit. A government dt does not want to shoulder any responsibility, just keep watching as things unfold.

kraftykc:

Please read up on how much Diezani sank into these bottomless portals of corruption and you will see that this "ANNOUNCEMENT" doesn't mean shhit!
http://www.thisdaylive.com/articles/one-million-barrels-per-day-refining-capacity-target-illusion-or-reality-/156730/

This link shows the most recent attempt to gloss over the pigsty they call a corporation. The entire government is pathetic and all I expect from them is to die.

jp philips:


You are right when you said that private people own refineries in other climates but it doesn't change the fact that refinery is a strategic national asset in Nigeria.
Nigeria's economy is resonating around oil and refining is one of its life wires, also, do you phantom the national crises that ensue when there is shortage of petroleum products?

The end of the road like i told you before is that the people who can afford it are likely going to be foreigners who don't have your country's interest at heart, even some indigenous companies who may afford it will source funding abroad.

Also consider the position of foreign politics, immediately the US sanctioned Iran's oil, all the Allies of the US complied, that means that if Iran didn't have NIOC (being their local oil company) their oil business has ended which you and I know is the main stay of their economy.

that is what will happen to you when you privatize all your critical national assets.

let me remind you that NIOC (National Iranian oil company) can be likened to our NNPC, today it has become their saving grace.

Privatization is not better than JVA and PPP, NNPC holds majority stake in SPDC, while shell (the private company) is the operator, that way, they bring in their world class operation standard, state of the art technology and for over 55yrs, they have ensured Nigeria is exporting oil.

It is a silly economic policy to sell off ALL your critical national assets in the name of privatization.

Under a US sanction, all the foreign companies will halt operations, now when you have foreign companies in charge of Power, foreign in charge of Aviation, Banking, insurance, foreign companies in charge of refining, foreign companies in charge of oil production, foreign companies in charge of ordinary water, what do you have?

just one sanction and all these companies pack up or there is a melt down like the 2008 saga, Nigeria will literary shut down.

my model is this; privatize telecom by bringing MTN but keep Nitel
Privatize power but keep NEPA, NEPA can Own a majority stake in the power sector while Manitoba brings in their world class experience to keep it afloat.
privatize The downstream by licensing Orient and co but keep PRCN, you never can tell what will happen to the economic dynamics of the world.

What about competition? when you licensed MTN and murdered NITEL, nobody competed with MTN till Glo arrived, meanwhile NITEL could have done the same job and increased the competition further leading to lower tarrifs earlier than we had it.

lastly, do you know that when Lehman brothers liquidated, they equally fried their over sees assets, you don't want Manitoba canada to liquidate and Enugu disco remains in darkness forever do you? It is not in anybody's interest to have so much foreign exposure, the 2008 meltdown should serve as an eye opener.

Jonathan's administration is known for "quick fix" approach to national issues and that will be the problem of the next generation just like he is cleaning up the mess of our past.

What about the issues surrounding the PIB on balkanizing the NNPC, have they been solved before selling off its subsidiaries? those are the real issues, the problem with Nigerians is that they don't know how bad Govt policies affect them till it touches their skin.

The big question is; Why do you need to create a problem trying to solve another?

DaLover:


You are right when you said that private people own refineries in other climates but it doesn't change the fact that refinery is a strategic national asset in Nigeria.
Nigeria's economy is resonating around oil and refining is one of its life wires, also, do you phantom the national crises that ensue when there is shortage of petroleum products?

The end of the road like i told you before is that the people who can afford it are likely going to be foreigners who don't have your country's interest at heart, even some indigenous companies who may afford it will source funding abroad.

Also consider the position of foreign politics, immediately the US sanctioned Iran's oil, all the Allies of the US complied, that means that if Iran didn't have NIOC (being their local oil company) their oil business has ended which you and I know is the main stay of their economy.

that is what will happen to you when you privatize all your critical national assets.

let me remind you that NIOC (National Iranian oil company) can be likened to our NNPC, today it has become their saving grace.

Privatization is not better than JVA and PPP, NNPC holds majority stake in SPDC, while shell (the private company) is the operator, that way, they bring in their world class operation standard, state of the art technology and for over 55yrs, they have ensured Nigeria is exporting oil.

It is a silly economic policy to sell off ALL your critical national assets in the name of privatization.

Under a US sanction, all the foreign companies will halt operations, now when you have foreign companies in charge of Power, foreign in charge of Aviation, Banking, insurance, foreign companies in charge of refining, foreign companies in charge of oil production, foreign companies in charge of ordinary water, what do you have?

just one sanction and all these companies pack up or there is a melt down like the 2008 saga, Nigeria will literary shut down.

my model is this; privatize telecom by bringing MTN but keep Nitel
Privatize power but keep NEPA, NEPA can Own a majority stake in the power sector while Manitoba brings in their world class experience to keep it afloat.
privatize The downstream by licensing Orient and co but keep PRCN, you never can tell what will happen to the economic dynamics of the world.

What about competition? when you licensed MTN and murdered NITEL, nobody competed with MTN till Glo arrived, meanwhile NITEL could have done the same job and increased the competition further leading to lower tarrifs earlier than we had it.

lastly, do you know that when Lehman brothers liquidated, they equally fried their over sees assets, you don't want Manitoba canada to liquidate and Enugu disco remains in darkness forever do you? It is not in anybody's interest to have so much foreign exposure, the 2008 meltdown should serve as an eye opener.

Jonathan's administration is known for "quick fix" approach to national issues and that will be the problem of the next generation just like he is cleaning up the mess of our past.

What about the issues surrounding the PIB on balkanizing the NNPC, have they been solved before selling off its subsidiaries? those are the real issues, the problem with Nigerians is that they don't know how bad Govt policies affect them till it touches their skin.

The big question is; Why do you need to create a problem trying to solve another?

JP phillips, you and I will never agree on this...our philosophies are totally different on this topic, but what I can say for sure is that when the biggest country in the world treathens you, all your efforts will be in vain...right now iran is on its knees begging to scrap its nuclear program

This is the reply I gave to someone else, I am also giving it to you

the problem is that you trivalise policy fomulation and regulation...that is why you feel that if the government is not running business, then it is not doing anything...

Economies are built by government focusing on policy formulation and regulation, and not by government trying to run businesses...

""But the idea that it is sanctions that have brought Tehran to the table is wrong. The real cause is the desire of new President Hassan Rouhani to reach a rapprochement with the US, the EU, its neighbours and other world powers, alongside the fact that the US red line has changed from “no enrichment of uranium” to “no nuclear bomb”."