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Nairaland Forum / Nairaland / General / Politics / FG Set To Go Ahead With $1.5 Billion Refinery Revamp Despite Criticisms (11381 Views)
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Re: FG Set To Go Ahead With $1.5 Billion Refinery Revamp Despite Criticisms by zoedew: 11:11am On Mar 20, 2021 |
Truth is, the APC seriously needs to win the next round of elections in Rivers State from The Wards all the way to the Governorship Elections! If you know then you know! |
Re: FG Set To Go Ahead With $1.5 Billion Refinery Revamp Despite Criticisms by Nobody: 11:21am On Mar 20, 2021 |
oyejideogunjumo: Well, all West African countries sell above N300.And all of them have not died...and all of them are at our level (and no, Niger, Chad, and Benin and even Ghana and Liberia are not richer than we are) The thing is, you want to eat your cake and have it. You want functioning refineries, and at the same time you want to pay less than the cost of what it takes to make the fuel.You want the refinereis to run at a loss so that you can have cheap fuel. If you were running a business selling yam at N1000 a tuber , after buying it at N800 per tuber from the famer, and then government steps in and tells you to reduce your price to N200, and pays you a subsidy of N100 per yam sold, and does not let you increase your price, would you make a profit to run your business.? No. That is what we have been doing to our petroleum business. That is why we import fuel like water because for decades we sold fuel at a loss from all our refineireis. And they all broke down...because profit was not enough to incentivise them to run well. Other countries tried what you are thinking of, and they all ended up in severe economic crisis. The China you like...sells fuel at N402. They have working refinereis because they make enough of a profit to make them work. |
Re: FG Set To Go Ahead With $1.5 Billion Refinery Revamp Despite Criticisms by simonsayz: 12:08pm On Mar 20, 2021 |
Its just another avenue to looth more money |
Re: FG Set To Go Ahead With $1.5 Billion Refinery Revamp Despite Criticisms by Nobody: 4:48pm On Mar 20, 2021 |
Subsidybad21: All these TURECI (technicalities ) is because Dangote failed to deliver as expected since 2017. When FG made plans to import fuels from the Chad refinery I noticed the frustration of the government. As it is FG cannot rely on Dangote delivery date again. Refineries have been running at huge loss and the deals at NNPC and DPR is very high. Privatization remains the best option. Turn Around Maintenance of refinery is a political contract since the military era. I know the political intricacy that went behind the maintenance contract of Kaduna Refinery under Abacha. Just that OBJ time was limited as at 2007, all the refineries would have been sold. As at now, Dangote and other investors would have been responsible for maintenance and management of those refineries. |
Re: FG Set To Go Ahead With $1.5 Billion Refinery Revamp Despite Criticisms by Nobody: 4:55pm On Mar 20, 2021 |
babaolofin: Well , in previous posts , I have stated that refineries must be privatized along with NNPC...IN ADDITION to deregulation. I wonder where you got the idea I don't back privatization. At the same time, privatization does not mean that the investor would come and build stuff for you and not make a profit to pay for maintenance and future upgrades...that's where deregulation comes in By the way, there are four other refineries under construction apart from Dangote. And 20 others who have been licensed to set up refinereis. |
Re: FG Set To Go Ahead With $1.5 Billion Refinery Revamp Despite Criticisms by greatokeke16: 8:38pm On Mar 20, 2021 |
That's the way to go. |
Re: FG Set To Go Ahead With $1.5 Billion Refinery Revamp Despite Criticisms by OtunbaJ: 9:16pm On Mar 20, 2021 |
triple996:my dear, some of us make use of our senses, ok. It cost Dangote 15bilion to built new refenary, n govt want to use 750bilion to renovet not to built new one o, that money can build 25 additional n working refineries according to wat it cost Dangote to build his. That money has been mapped out, how to be shared. PDP worse govt but APC n Buhari is d greatest mistake that has ever happen to Nigeria. 1 Like |
Re: FG Set To Go Ahead With $1.5 Billion Refinery Revamp Despite Criticisms by adenigga(m): 4:49am On Mar 21, 2021 |
OtunbaJ: You are on point!.........
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Re: FG Set To Go Ahead With $1.5 Billion Refinery Revamp Despite Criticisms by triple996(m): 7:11am On Mar 21, 2021 |
TinubuGoQuench:of all those that qouted me yours was the dumbest |
Re: FG Set To Go Ahead With $1.5 Billion Refinery Revamp Despite Criticisms by TinubuGoQuench(f): 7:35am On Mar 21, 2021 |
triple996: SHUT UP! |
Re: FG Set To Go Ahead With $1.5 Billion Refinery Revamp Despite Criticisms by triple996(m): 7:44am On Mar 21, 2021 |
TinubuGoQuench: . mumu |
Re: FG Set To Go Ahead With $1.5 Billion Refinery Revamp Despite Criticisms by Zenithpeak(m): 8:49pm On Mar 25, 2021 |
adenigga: Lori iro 1 Like |
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