IMPORTANT INFORMATION

1) One barrel of Crude oil = 42 gallons or 159 litres

2) Our Refineries (i.e 4) Installed (combined)

capacity = 445,000 barrels per day
3) Actual refineries capacity due to ageing
equipment = 30% i.e. 133,500 barrels per day.

4) 133,500 barrels = 21.2 million litres

5) Local required consumption (F.O.S) =
12millions litres

6) It means that even our MORIBOND refineries can actually meet our local consumption need of petroleum.

7) The cost structure of crude oil per barrel (i.e. Qua Iboe Crude Oil) production; -
- Findings / development - $3.5
- Production cost - $1.5
- Refining Cost - $12.6
- Pipeline/transportation - $1.5
- Distr/bridging fund Margin -$15.69

True cost of one BARREL of petroleum anywhere in Nigeria:

- Total sum cost/barrel = $34.8
- 1ltr cost = $34.8/159 litres = $0.219
- Naira equiv. 0.219xN160= N35.02k
- Add Tax N5 + N35.02 = N40.02

9) Let FGN refute the above composition and if not, they should tell us how they came about
N95/N85 litre.

10) Locally refined products cannot be sold at International price.

11) We really do not need FGN SUBSIDY as there was NONE in the first place.

12) What is LACKING, is the WILL to enforce LAW ON CORRUPTION.

Lalasticlala

.

I totally agree with the @OP

Check out what Minister of Darkness said when he was Governor.
www.nairaland.com/attachments/3706086_fasholaonsubsidy_jpegc7b3d6e2d330c85138f878251cbed2d7

i dont get it

Your refineries are not working, recalculate based on importing.

innobarca:
i dont get it

It costs fg 40 naira to produce a litre of petrol. They sell to us at 86.5. What's the subsidy?
Now they want to sell at N145 claiming they've removed subsidy

If you ask me na who I go ask

Donbrowser26:

It costs fg 40 naira to produce a litre of petrol. They sell to us at 86.5. What's the subsidy?
Now they want to sell at N145 claiming they've removed subsidy

The market is now open for you,
Go and source forex, buy from anywhere in the world,
bring it back to Nigeria for us at a landing cost of N40
and sell at 86.50, i promise to patronize you

diegwu01:

The market is now open for you, Go and source forex, buy from anywhere in the world, bring it back to Nigeria for us at a landing cost of N40 and sell at 86.50, i promise to patronize you

Clap for yourself.

diegwu01:


The market is now open for you,
Go and source forex, buy from anywhere in the world,
bring it back to Nigeria for us at a landing cost of N40
and sell at 86.50, i promise to patronize you

U wud fit d lead ZOMBIE in dis new RESINDENT EVIL MOVIE

What is remaining, increase in the price of electricity and no light, increase in the pump price of fuel and no fuel, they said that our refineries are working and I ask how?

Dollar price has gone up and refused to fall, why?

Fulani killing and kidnapping with total disregard and you still believe in this government?

oshe11:
U wud fit d lead ZOMBIE in dis new RESINDENT EVIL MOVIE

As usual, a dumb response from an empty wailer.

diegwu01:

As usual, a dumb response from an empty wailer.

I'm neida a wailer nor a Zombie, bt U r oblivious a Gigantic odoriferous Zombie





The worst part is dat we both knw u av gained ntin 4rm dis govt oda dan fooling ursef online n posing as an APC fanatic, mayb wit d aim of tagging along wen next dere is left ova rice in ASO ROCK dat dia dogs kudnt FINISH

oshe11:
I'm neida a wailer nor a Zombie, bt U r oblivious a Gigantic odoriferous Zombie





The worst part is dat we both knw u av gained ntin 4rm dis govt oda dan fooling ursef online n posing as an APC fanatic, mayb wit d aim of tagging along wen next dere is left ova rice in ASO ROCK dat dia dogs kudnt FINISH

oh sorry, forgot you were an IPOBian.. seeking for Biafra.

diegwu01:

oh sorry, forgot you were an IPOBian.. seeking for Biafra.

d klosest relationshp I av wit Ibos is friendshp, same as Yoruba n d likes....... Dnt mention me again if its to guess dat I'm probabli a NDA

Calculations would have worked if your brothers weren't Sabotaging pipelines all over the place