Frank-C:


Really? This is not Ojota bus-stop or beer parlor where data are pulled out from the air to support any loud opinion. Where is your source? The fact is that our refinery are getting back to their feet after years of lying comatose, so are our rail roads.

And for your celebration of the so called Egyptian, Tunisian and Lybian 'revolution', tell me, between the leaders that was deposed and the citizens, who are better off today? What has the 'revolution' brought them? Is Lybia better today than it was under Ghadaffi? And is Egypt better today? Don't talk out of exuberance. Think through your opinions.

cecegorz: Are you kidding me?
So where are these products, export ONLY?
I wish I took a picture of the sight at one NNPC gas station I passed yesterday.
To be fair, there were no less than 500 empty 25Lt cans lined up from the inner pumps up to along the main road, with a teeming crowd of women and young folks, waiting for 'till God knows when' to get the kerosene.
Pray tell, is there a problem in the supply chain?

ewet: So when do we expect the pump price of petrol to come down?

Fhemmmy: Election is around the corner . . . "Statistics" will find its way to be coming out

Frank-C:

Elections that will hold around February 2015 is around the corner in May 2013? Are you even aware that GEJ has not gone half way into the tenure he swore to serve?

The problem is that you people wrote him off too early, aided by a loud but empty opposition. By the 3rd quarter of 2014, most people will be so ashamed to identify themselves as ACN/CPC/APC members, most of their lies having been burst.

emmatok:

You just showed your true colors as a politician.
I thought you were unbiased.

ayoJ-21:
10.2M litres=ow many barrels of oil

solomon111: you are actually the biased one here.

tinkinjo:

That was my first thought when I saw the news...discovered somewhere that 159ltrs = 1 barrel... if true then someone somewhere thinks Nigerians are really dumb...with a capacity for 400,000 barrels, below 70,000 barrels is refined...and our newsmen can't do this simple arithmetic...SMH

Isewa: Can someone please tell me the quantity of fuel we need daily for local consumption. If it is close to the number of litres our oga at the top claims we refine locally, then why are we still talking about SUBSIDY again?

4 Play: Why do people think that having refineries in Nigeria will bring down the pump price of fuel? It may even be cheaper to import refined fuel than to refine it locally. Most products tend to be cheaper to import than to source domestically as foreign producers are more efficient and operate in a lower cost business environment.

Having locally refined fuel does improve our trade balance thus reducing capital flight, creating jobs at refiners and improves local capacity. It doesn't translate to lower pump price. For that you need a drastic fall in crude oil prices.

all4naija: Lol... Is that the reason why the subsidy was removed in the first place? I think it will not. It will only reduce scarcity of the product.

[/quote][color=#006600][/color][quote author=SLIDE waxie]Immediately i saw d name of d OP, my interest to comment and commend this matter jes disappear for my stomach!

Parnassuss:

?..what u are saying that irrespective of the fact that a product is sourced and developed locally, it is still subject to international prices? Maka why my brother, please teach me this economic principles that states oil prices must follow the international bench mark!

chizel: Each time these bad belles who will never see anything gud in wht GEJ is doing to make life better for Nigerian talk,i ask myself this question(wht do they actually want?)as far as am concern GEJ is the best president that Nigeria ever had,if anyone has a contrary opinion on wht I said let him say it,and come to think of it,GEJ has barely done 2yrs as president even with bokoharam distraction and he is performing all this wonders,abeg 3gbosa for GEJ.GEJ our man for 2015.

mfm04622:
Everything and I mean everything good that GEJ is laying claim to were initiated by his predecessors. OBJ sold the refineries a day before leaving, Umaru cancelled the sale and AWARDED the TAM of the refineries. Improvement in power supply is due to investments done by OBJ. Improvement in the railway was due to investments by OBJ. Wake up!!!! We all know 2 years is to small for us to enjoy investments in major infrastructure. What we are enjoying are the work of previous governments. Let GEJ too start his own investments instead of concentrating all his attention on 2015 election

koruji: 170,000 bbls/day produces about 13 million litres/day of petrol. I thought you people understood.
This is how you calculate it:
170,000 bbls = 42 x 170,000 gallons = 42 x 170,000 x 3.785 litres = about 27 million litres.
Now, petrol is in general about half of a barrel of crude oil hence we have 27/2 = about 13 million litres/day


It is this kind of blinders that keeps Nigeria from making progress. So many times NNPC GMD's and Ministers under both Yar'adua and GEJ have promised that Nigerian refineries will be fully functional, and they even set time frames. Like with power, they show nothing for their promises at the end of the day.

An NNPC GED told us almost the same story in December 2011 and now another GMD is telling us the same story about refineries working at 60%. How can anyone not be wary about jumping up and down over the latter story, until they are completely sure it is true.

The Nigerian psyche has been damaged by continuous government lies over decades that we are completely numb and refuse to raise objections even when a con-job seems apparent.

lacidi:
Oga mathematician, did you conviniently forget Diesel and Kerosine? The same crude oil is used to refine diesel and kero, so why did you restrict your mathematical analysis to only Petrol?

babe_online: Rossikk, thanks for the good news.