IbeOkehie:


This is not a reasonable question. We should be asking what components are NOT imported.

And no one here has claimed to be a petroleum engineer or such.

Refining crude oil into kero, petrol and diesel involves some sort of cost. That's all. The world price of petrol right now, at this moment, is at least ₦‎230 to ₦‎350 and there's no way it can cost less in Nigeria. That's all anyone needs to know. Ghana, Cameroun & Niger Republic are crude oil producers and they sell to their people at world prices and we know those countries are poorer than Nigeria

Nigerians don't want to pay full price for ANYTHING, that's OK as long as they realize the implications of their choice, which is a stagnating economy and everlasting poverty for 99.999% of the population. Enjoy your cheap economy and stop complaining.

Nigeria used to have perennial scarcity in telecoms and cement. Banking was the same, ALL banks were owned by government and there was lots of corruption. I remember when I was growing up when bank managers were gods because they could give out loans that wouldn't be paid back. Those problems in telecoms, cement and banking were solved with privatization & deregulation.

If Nigerians can't learn from the experience in banking, telecoms and cement then they're real Zombies in a Zoo. The lessons are clear. Privatize and deregulate EVERYTHING possible and where not possible like airports, Universities and seaports, give them to the State Governments. The Niger Bridges, give one to Delta State and the other to Anambra State.

It's really that simple, there's nothing to argue about, do it and watch an economic miracle unfold.

I support privitisation and deregulation but will not support handing federal properties like airports, seaports , University to state government. State government are as useless , even worst in maintaining public institution. Most of higher institutions University and Polytechnic being run by state government are nothing to write about, the quality of education of education is very poor unlike their federal counterparts. State institutions are run like one man business, embodied corruption, no competition and unethical practices. It's still better federal continued running these critical areas.

BigIyanga:

You have clearly shown zero understanding of how fuel import and subsidy work. NNPC/and ministry of petroleum are firmly in control. You cant get into this industry without their approval.

You are the one with zero comprehension....


We're talking about price hike and who's responsible and you're talking about subsidy and oil import....

Are you for real?

Raheeqilmaktoom:


1. What's the name of something you keep on paying year on year which keeps on increasing and whose value does not show while at the same time stoping you from making inroads in other things?

2. None, according to public sources.

3. PIA was meant to spur investments by especially the private sector (the driver's of the economy), waiting for govt to do something in Nigeria is going to take you forever.

E.g the dangote refinery, at a cost of $25b, I doubt if it will ever be done by a Nigerian govt. Don't forget that in just around 2012 when the idea was first mooted, cost was placed around $12b, it ballooned to the current value requiring model thinking in financing and partnerships. No business will invest money and be told to produce and sell below the ideal market price.

Give the private sector the room to invest their money, regulate, collect taxes and royalties.

The question is "who" and not "what". Does subsidy pay itself?
1. Who made fuel subsidy a drain pipe?

2. So you mean there's no percentage of subsidy and there's no subsidy left to be removed?

You are answering the question of "what". Will PIA run itself by itself?
3. This is what I asked...Who is going to increase investments in upstream and downstream?

Is lack of money the reason for the lack of investments?

udemzyudex:


What is stopping the minister of petroleum in making sure we have at least one functional refinery,just one that can work in full capacity?

All this subsidy this subsidy that should have been a thing of the past if he was serious about it by making sure out of the 4 refineries,we have at least 2 that is working well,all this we use 66m barrels in the country is a big fat lie.

Now, this is we're our problem is....The refinery...

But since the country is fantastically corrupt, having a functional refinery will have them derive more ways to steal money.

Our problem is corruption and the people we employ to lead us...We employ clueless and incompetent leaders and that's why we're were we are...

acorntree:


I support privitisation and deregulation but will not support handing federal properties like airports, seaports , University to state government. State government are as useless , even worst in maintaining public institution. Most of higher institutions University and Polytechnic being run by state government are nothing to write about, the quality of education of education is very poor unlike their federal counterparts. State institutions are run like one man business, embodied corruption, no competition and unethical practices. It's still better federal continued running these critical areas.

Let's take Universities.

Are you aware that Universities were Regional Government properties before 1975? And most primary/secondary schools were private property? Again, any older person can tell you that Nigerian education in the period before 1975 was generally high quality. I've heard stories about how foreign Presidents and dignitaries used to seek treatment at Univ of Ibadan Teaching Hospital.

The quality of Nigerian Universities and education in general started their long decline when President Murtala Mohammed ordered the Federal Government to take over all Universities in 1975 and handed over ALL primary/secondary schools to State governments. This isn't my opinion, it's fact. The Government started subsidizing all universities with crude oil money that everyone thought would never finish, and the result TODAY is a system where lecturers go on strike for 8 months and students can't finish their degree in the standard 4 years.

State government ownership of Universities, airports and seaports would bring about COMPETITION. Some states will have FREE university, some will charge FULL tuition and fees with zero subsidy, at the end of 10 years everyone can look and see which States are better. Corporations will hire students from the better schools. Parents that send their children to GHANA....Ghana of all places....may decide to spend their money at some state universities where the quality and price are high. It's already happening. I remember being surprised at the high quality of Ebonyi State University medical school. At one point it was the only internationally accredited medical school owned by a State government in Nigeria.

The ONLY reason many Nigerians PREFER Federal ownership is the possibility of FREE university tuition, in a country where very few people pay taxes and because the Federal Government is far away and impersonal, it's more open to bribery and corruption.

Any State government can charge FULL PRICE for their University and provide world-class education. It's not that hard, the only problem is that Nigerians want everything FREE....awooof dey run belle.



Nigerians keep enjoying your FREE & subsidized federal universities, they're great institutions!

Lisaint:

Thanks in advance sir

cant find you on WhatsApp

Olowoeko11:
cant find you on WhatsApp

Send urs
I will find you sire

IbeOkehie:


Who do you think smuggles cheap fuel from Nigeria to Cameroun and Benin Republic and sells it at ₦‎430?

https://www.google.com/search?q=nigeria+fuel+smuggling&rlz=1C1SQJL_enUS816US816&oq=nigeria+fuel+smuggling+&aqs=chrome..69i57j0i22i30j0i390l5.7012j0j4&sourceid=chrome&ie=UTF-8

ORDINARY NIGERIANS, that's who does it.

Same way ORDINARY Nigerians pay bribes or offer sex to enter university, pay bribe to get forex at CBN.

Same ordinary Nigerians offer bribes to police at checkpoints.

Abeg make I hear word!

I am talking of big companies with revenues running into millions of naira who are paid monies to import petroleum products into Nigeria you are talking of people who are carrying jerrycans of petrol to Benin republic. Na wa o!

Lisaint:



Send urs
I will find you sire

Don’t quote so I can delete when you chat me

JASONjnr:


Now, this is we're our problem is....The refinery...

But since the country is fantastically corrupt, having a functional refinery will have them derive more ways to steal money.

Our problem is corruption and the people we employ to lead us...We employ clueless and incompetent leaders and that's why we're were we are...

Nigeria imports petrol from the world market. The price of petrol at the world market is NOT a secret, right now it's about $2/gallon or $0.50/liter.

https://www.investing.com/commodities/gasoline-rbob

The problem is simple. Whether the petrol is refined in Nigeria or USA or India, the price is $0.50/liter or around ₦‎230 to ₦‎350 per liter, depending on whether you use CBN or black market dollar exchange rate.

No matter what rigmarole reasoning anyone is trying to do, the price is the price. If Nigerians want constant fuel supply with no corruption, DSS involvement, queues and so on, then they should pay the full price.

And that is that.

ADAMUdaCOWBOY:

I am talking of big companies with revenues running into millions of naira who are paid monies to import petroleum products into Nigeria you are talking of people who are carrying jerrycans of petrol to Benin republic. Na wa o!

NNPC is the sole importer of petrol into Nigeria. That was the FIRST THING President Buhari did on assuming office in May 2015.

Nobody pays any company to import any fuel. The companies buy from NNPC and resell to the public. In order to buy from NNPC, they go through hell. At the very least, know where the blame belongs.

If Nigerians want adequate petrol supply, they MUST pay full price. Same goes for university education, forex and electricity.

Have a good week.

IbeOkehie:


Nigeria imports petrol from the world market. The price of petrol at the world market is NOT a secret, right now it's about $2/gallon or $0.50/liter.

https://www.investing.com/commodities/gasoline-rbob

So the problem is simple. Whether the petrol is refined in Nigeria or USA or India, the price is $0.50/liter or around ₦‎230 to ₦‎350 per liter, depending on whether you use CBN or black market dollar exchange rate.

So matter what rigmarole reasoning anyone is trying to do, the price is the price. If Nigerians want constant fuel supply with no corruption, DSS involvement, queues and so on, then they should pay the full price.

And that is that.



NNPC is the sole importer of petrol into Nigeria. That was the FIRST THING President Buhari did on assuming office in May 2015.

Nobody pays any company to import any fuel. The companies buy from NNPC and resell to the public. In order to buy from NNPC, they go through hell. At the very least, know where the blame belongs.

If Nigerians want adequate petrol supply, they MUST pay full price. Same goes for university education, forex and electricity.

Have a good week.

Removing subsidy without building refineries is putting the cart before the horse. No serious country exports crude oil to import refined products. Only a rogue government will support such a silly venture.

JASONjnr:


Now, this is we're our problem is....The refinery...

But since the country is fantastically corrupt, having a functional refinery will have them derive more ways to steal money.

Our problem is corruption and the people we employ to lead us...We employ clueless and incompetent leaders and that's why we're were we are...

One of the reason why Buhari was voted in was because he is a military man,and people believe won't spare the rod,some say Nigeria need someone with iron hand to handle the country.

Well here we are,the country is even more corrupt than it used to.
Omo this country don tire me.

ADAMUdaCOWBOY:

Removing subsidy without building refineries is putting the cart before the horse. No serious country exports crude oil to import refined products. Only a rogue government will support such a silly venture.

Nigeria has 3 or 4 government owned refineries. Then Dangote will be on stream very soon.

So what's this nonsense about no refineries?

CheapHomes1:



The question is "who" and not "what". Does subsidy pay itself?
1. Who made fuel subsidy a drain pipe?

2. So you mean there's no percentage of subsidy and there's no subsidy left to be removed?

You are answering the question of "what". Will PIA run itself by itself?
3. This is what I asked...Who is going to increase investments in upstream and downstream?

Is lack of money the reason for the lack of investments?

Looks like you either find reading difficult or just want to keep running in circles.

acorntree:


I support privitisation and deregulation but will not support handing federal properties like airports, seaports , University to state government. State government are as useless , even worst in maintaining public institution. Most of higher institutions University and Polytechnic being run by state government are nothing to write about, the quality of education of education is very poor unlike their federal counterparts. State institutions are run like one man business, embodied corruption, no competition and unethical practices. It's still better federal continued running these critical areas.

I think these are more reasons why we should restructure the country; state govts have killed the third tier of govt and they themselves have become wasteful institutions, its very difficult to find a state govt in Nigeria actually working to solve problems, all are waiting for fed govt and the little token they get every month from the centre.

No single state govt in Nigeria is truly up and doing, the hardest hit are those that get too much money with unstable characters as governor's that do not know what to do (rivers eg) and the likes of zamfara that have literally become begging states, no devt whatsoever.

Raheeqilmaktoom:

Looks like you either find reading difficult or just want to keep running in circles.

Since you don't find reading difficult, how come you don't understand the difference between "who" and "what"?

The question is "who" and not "what". Does subsidy pay itself?
1. Who made fuel subsidy a drain pipe?

2. So you mean there's no percentage of subsidy and there's no subsidy left to be removed?

You are answering the question of "what". Will PIA run itself by itself?
3. This is what I asked...Who is going to increase investments in upstream and downstream?

Is lack of money the reason for the lack of investments?

IbeOkehie:


Nigeria has 3 or 4 government owned refineries. Then Dangote will be on stream very soon.

So what's this nonsense about no refineries?

You aren't even sure the number of refineries the govt has. Which of the refineries you mentioned is presently functional?

IbeOkehie:


Nigeria has 3 or 4 government owned refineries. Then Dangote will be on stream very soon.

So what's this nonsense about no refineries?

Build a million government refineries and they'd still go comatose! How many knocks do you need to receive to get it that some people in NNPC themselves will ensure the refineries don't work so they can import more and get more subsidy payment? Mstchew

ADAMUdaCOWBOY:

Build a million government refineries and they'd still go comatose! How many knocks do you need to receive to get it that some people in NNPC themselves will ensure the refineries don't work so they can import more and get more subsidy payment? Mstchew

On the other hand, if subsidy goes, and we pay full price, NNPC will earn far more money than it currently earns....even far more than the people that are 'corrupt' envisage.

Also, refineries need a healthy profit to work. Not what we do in Nigeria...sell below the cost of production and then pay a subsidy that in a few months won't be able to adequately cover the cost of production.