Willie2015:


Its not about the selling price ...
Its strictly about those who dont want refineries to work..
Let the four refineries be functional...
And let Dangote Refinery also do his own part...
Petrol will be available...at a good price..

Majesty7:


You got it 95% wrong. I am just being gentle with your assertions. The only thing that you said and that is applicable to the private sector is not selling things on loss.

themanderon:



And who told you it costs that amount in the real sense? The same crooks in government? Or where you there when they arrived at that figure?

themanderon:




The Nigerian government has been lying to Nigerians for ages now concerning the happenings in the oil and gas sector. The sleaze going on in that industry will blow your mind to shreds.

nairalanda1:


Our tax to gdp ratio is less than 11%. Over 70% of Nigerians do not pay income tax to the federal and state coffers. Between 60-80% of our revenues comes from oil, and most of the rest comes from loans.

We ain't earning enough from tax

And even if we were earning from tax...take our budget for this year. It is less than 30 trillion. Estimates for fixing our power sector for example have been put at 15 trillion yearly. Half our budget.

Would you spend half our budget on fixing power up, and use loans to fll in the resultant deficit?

nairalanda1:

The refineries have not been working because subsidy prevented the sector from making a profit (remember until 2013, diesel and kerosene were subsidised....as well as petrol...meaning every liter comming out of our refineries of diesel, kero and petrol lost money. Even jet A1 fuel).


As harsh as it sounds petrol costs money to refine, and must be sold at a profit to pay the costs, and salaries , and upgrades cost.

phemray:


Reason I don't like weaker presidents like yaradua and Jonathan. NNPC is scan and we all know, OBJ sold them to foreigners and yaradua reverted it knowing fully well that they are not productive and profitable. Same as Jonathan keep borrowing and using forex reserves to defend the fuel subsidy and naira. People protested and he reverted. These are not true leaders.

Willie2015:


Subsidy is a scheme put in place by Elites that...
do not want the refineries to work ....
...

Majesty7:


Lies! Lies!! And lies!!!

Which trillion yearly? What happened to the billions of USD allocated to the power sector by Obasanjo? What happened to the previous allocated budget? Who said we are not earning enough from tax? Nigerian government have succeeded in brainwashing her citizenry to believe anything they spit out. Corruption! Don't believe this guys. A country with zero accountability. If not so, why will NNPC wake up to always tell us trash.

They will wake up tomorrow and tell you again that the landing cost is now #1,600 and they will believe Nigerians won't ask questions.

Please let's stop all these lies

Majesty7:


Lies! Lies!! And lies!!!

Which trillion yearly? What happened to the billions of USD allocated to the power sector by Obasanjo? What happened to the previous allocated budget? Who said we are not earning enough from tax? Nigerian government have succeeded in brainwashing her citizenry to believe anything they spit out. Corruption! Don't believe this guys. A country with zero accountability. If not so, why will NNPC wake up to always tell us trash.

They will wake up tomorrow and tell you again that the landing cost is now #1,600 and they will believe Nigerians won't ask questions.

Please let's stop all these lies

Scandium:
But this country is very funny oo. What is actually the problem why Nigeria cant get 24 hours electricity? Is it mission impossible or what is wrong exactly.

Now all these money they are lamenting about using to buy millions of litres of fuel daily, if there is stable electricity in the country, the fuel consumption will reduce drastically because a very large percentage of that fuel they claim they are subsidizing goes for generator use especially for businesses in areas suffering epileptic power supply.

Make them fix electricity using nuclear, hydro or gas turbine systems and watch the consumption of fuel reduce. While they recover the money used in generating the electricity through payment of light bills on prepaid meters and other viable methods.

But the main question remains, why cant Nigeria fix it's electricity in this modern age and reduce the consumption of fuels like Petrol and Diesel drastically?

Kaycee9242:


And the worst now is that most of the fuel stations don't sell to kegs anymore. Tell me how one will be fueling his generator and no light.

nairalanda1:


Nope, it is what you Nigerians , elite and the people want.

You get low oil prices, the elite make money from subsidy claims and smuggling...as do some of the general populace.

If you really want subsidy gone, you would support fuel being sold at market price. SImple.

Willie2015:


Absolutely wrong...

Everyone agreed subsidy must go...

Tinubu already removed the subsidy...

So where is the problem coming from ......?

nairalanda1:


Shortfall.....that's the word I have for you.

If there was no subsidy, fuel would cost N1300 or more by now.

nairalanda1:



We don't have electricity and petrol because we sell them below the market price, in the name of subsidy, and have been doing so since the 1970's.

The first warning signs were when we had fuel queues in 1976, and power cuts from 1978.

But since we 'had to help the poor' we continued.

The result...the power and petroleum sector depreciated because there wasn't enough profit in the system to fix and upgrade and maintain things at the same time.

Right now, power for most people is charged below the production cost of N160-170 per kwh, except for Band A people who pay N209 and above, and even then, government is planning to subsidise universites and hospitals on band A. Add the fact that band A people make up 20% of the customer base of our electriciity sector

Meaning our power sector loses money. ANd here is the scary thing, before the BAND A price increase , everyone paid below the production cost of a kwh of power. EVERYONE.

I haven't even mentioned things like massive power theft , among other things. And then the corruption which arises in part because since we don't pay the discos and gencos decent money, their workers supplement their income by bribes and so forth...including ilelgal conncections.

The result is the power sector has been operating at a chronic loss for decades...even now, government owes the sector N2 trn or more in unpaid subsidy costs. Let's not even talk about the debt owed by Nigerians.


Compare with the GSM sector who at least have some control over price setting....tell me, when was the last time you bribed an MTN worker to connect you to the network when your airtime ran dry?

Sell at a loss, operate at a loss. Feed a child one egg and two grains of rice a day, dont complain when the same child scores minus 40 in his end of term examinations.

You run something at a loss, issues start.

mrvitalis:

Honestly Jonathan supporters were not this stupid

Willie2015:


FG removed subsidy ....

And yet it came back again .....

Na spirit

Thats the angle you need to understand ....

Its just not about market prices .....

leokid866:
what are you talking about ? Did you people think even under Pdp and their failed years that it was the landing cost you were seeing at the pumps? How do you think they managed to deplete out dollar reserves in 16 years?

Scandium:


So how do you think this issue can be sorted out. I mean the issue of no constant electricity supply.

phemray:


It seems you don't really understand what is the subsidy that was gone. B4 now, presidency and national assembly provided huge amounts of money, even taken loans to pay for fuel subsidy while NNPC declared no profit. But now, NNPC remains unprofitable as its ever being but the presidency no longer budget and pay for additional overhead called subsidy. So, NNPC takes responsibility for the, Crude and the PMS. Meaning, NNPC have been cheating FG and nigerians since. Before now, No profit made, non refineries working and you still collected subsidy from government. No no no.
I will be so surprised if PH refinery come back to life after dangote, meaning it's dangote production that exposed thier deals.

DaddyCoool:


Ehm. .. did you see him mention subsidy?

Yourprick:


https://www.thecable.ng/nnpc-we-are-selling-petrol-at-half-the-landing-cost-but-it-is-not-subsidy/amp/

nairalanda1:


Market price in this case is a price that is higher than the landing cost for fuel in this country (or a price that is higher than the cost of refining when Dangote et al come on stream)....that enables the seller to make a profit to keep on being in business of improting or refining so to speak.