"The Buhari administration has broken a key electoral promise, that is to revamp the refineries and wean Nigeria off this destructive reliance on fuel imports. This deregulation/fuel price increase is effectively a declaration that they've given up on restoring our refining capacity."
Now why did I pick this up specifically? I did because when many of our public affairs analysts discuss issues, they often do so inside a "pipe" and fail to consider the environment that surrounds the pipe. Conclusions or opinions as I have quoted above was ascribed to Moses Ochonu, someone I actually do respect but doubt if he made the statement above. I do not work for this government and therefore not their spokesperson but I am knowledgeable enough to know that as of March 2015, the Nigerian government was so broke it was borrowing to pay civil servant's salaries. I also know that that government left with a trail of debts owed on petro-subsidies and that there was an acute scarcity of petroleum products towards the tail end of the last administration the reason for which many accused it of criminal indifference. So soon after, we witnessed the near collapse of two-thirds of the 36 states in Nigeria who could not pay staff salaries or maintain the institutions of state. Since after that, the nation has been treated to different manifestations of sleaze and different guises of high-treason by those who held sway. Something that was obviously so shocking was the "Abuja Yam Festival". Only a few days ago, the vice-president, Yemi Osinbajo, confirmed that about $15 billion of the nations wealth was looted under the cover of security spending at the federal level alone. If one were to add what was looted under power infrastructure, third term, UBE, monetization, 2011 subsidy scam, un-remitted oil receipts, sovereign wealth fund, Niger River Bridge, NNDC, ecological fund (nonsense), banking and bank consolidations and the debt write-offs and other sources or domains, you can imagine how this nation had been raped by the elites ruling us.
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Showing posts with label refineries. Show all posts
Showing posts with label refineries. Show all posts
Saturday, 14 May 2016
Friday, 13 May 2016
Fuel Subsidy: Time For PMB To Relinquish Petroleum Minister’s Porfolio
President Muhammadu Buhari, having been Petroleum Minister in the 70s where refineries were built under his watch and also chairman of the successful Petroleum Task Fund (PTF) under the regime of the late Sani Abacha, has a good knowledge of the Petroleum industry.
I believe that must have informed his decision to take on the role as the Minister of Petroleum. The model was first adopted by former president, Chief Olusegun Obasanjo when he kept the Petroleum Ministry to himself.
I believe that must have informed his decision to take on the role as the Minister of Petroleum. The model was first adopted by former president, Chief Olusegun Obasanjo when he kept the Petroleum Ministry to himself.
Thursday, 12 May 2016
Ministry of Petroleum Resources prepares #FACTSHEET that tries to answer all your questions on new petrol price in Nigeria
The Federal Ministry of Petroleum Resources has prepared a #FACTSHEET that tries to answer all your questions on the new price of petrol in Nigeria:
Top 13 Frequently Asked Questions (FAQs):
1.What is the benefit of the new price regime to Nigerians?
This government is elected to serve the people and provide benefits to all. The new pricing regime brings the following benefits:
Solves the recurrent fuel scarcity crisis by ensuring availability of products at all locations of the country
Reduce hoarding, smuggling and diversion substantially and stabilise price at the actual product price
Ensures market stability and Improves fuel supply situation through private sector participation
Creates Labour market stability (will potentially create additional 200,000 jobs through new investments in Refineries and Retails and prevent potential loss of nearly 400,000 jobs in existing investments)
2. Why the new price regime?
Top 13 Frequently Asked Questions (FAQs):
1.What is the benefit of the new price regime to Nigerians?
This government is elected to serve the people and provide benefits to all. The new pricing regime brings the following benefits:
Solves the recurrent fuel scarcity crisis by ensuring availability of products at all locations of the country
Reduce hoarding, smuggling and diversion substantially and stabilise price at the actual product price
Ensures market stability and Improves fuel supply situation through private sector participation
Creates Labour market stability (will potentially create additional 200,000 jobs through new investments in Refineries and Retails and prevent potential loss of nearly 400,000 jobs in existing investments)
2. Why the new price regime?
Sunday, 24 April 2016
REVEALED: Politicians who visited Aso Rock in the past were given $100, 000 – Presidency
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| Senator Babafemi Ojudu |
Speaking in an interview with Leadership newspapers, the presidency official, however, pointed out that his principal has put a stop to the practice as such cash gifts are now diverted into productive services and the provision of infrastructure.
In the words of Ojudu, “In the past, somebody would come to Aso Rock, a chief or a politician. And they package $100,000, $50,000 for him. The man gets back to his hotel room, dashes his driver $500, dashes his PA $1,000, his girl friend $200. This has stopped. Such money must go into productive services, medical services, infrastructure etc.
Thursday, 1 October 2015
Nigeria at 55: President Buhari’s speech (FULL SPEECH)
PRESIDENT MUHAMMADU BUHARI'S 55th YEAR INDEPENDENCE CELEBRATION BROADCAST ON THURSDAY 1st OCTOBER,2015
"October 1st is a day for joy and celebrations for us Nigerians, whatever the circumstances we find ourselves in because it is the day, 55 years ago; we liberated ourselves from the shackles of colonialism and began our long march to nationhood and to greatness.
“No temporary problems or passing challenges should stop us from honouring this day. Let us remind ourselves of the gifts God has given us. Our Creator has bequeathed to us Numbers – Nigeria is the ninth most populated country on the planet. We have in addition arable land; water; forests; oil and gas; coastline; and solid minerals.
“No temporary problems or passing challenges should stop us from honouring this day. Let us remind ourselves of the gifts God has given us. Our Creator has bequeathed to us Numbers – Nigeria is the ninth most populated country on the planet. We have in addition arable land; water; forests; oil and gas; coastline; and solid minerals.
Tuesday, 3 June 2014
SURE-P: SURE SCAM - Steam
"After 29-months of removal of the non-existing subsidy from our petroleum, neither has a block been laid for new refineries and nor has the existing ones experienced any overhauling, we still experience fuel scarcity and we are yet to feel the dividends of the non-existing subsidy removal and and until we stop to forget our pains and the inflictors, Nigeria would remain in a standstill".

The Subsidy Reinvestment and Empowerment Programme (SURE-P) was designed to cushion the effects of the calamity and discomfort the President Jonathan administration imposed on the Nigerian masses by promising that our refineries would start to work at maximum capacity after 18-months, while the price would be reversed and petroleum would be made available at need.
In addition, Nigerians were deceived that the subsidy would be heavily invested in the construction of New refineries while the existing ones would experience a total overhauling, Construction of Roads, Organising vocational training, Provision of Mass transit buses across the country but it should interest us all that "After 29months of removal of the non-existing subsidy from our petroleum, a block is yet to be laid for a new refineries and neither has the existing ones experience any repairs or overhauling, we still experience fuel scarcity and we are yet to feel the dividends of the non-existing subsidy removal and until we stop to forget our pains and the inflictors, Nigeria would remain in a standstill.

The Subsidy Reinvestment and Empowerment Programme (SURE-P) was designed to cushion the effects of the calamity and discomfort the President Jonathan administration imposed on the Nigerian masses by promising that our refineries would start to work at maximum capacity after 18-months, while the price would be reversed and petroleum would be made available at need.
In addition, Nigerians were deceived that the subsidy would be heavily invested in the construction of New refineries while the existing ones would experience a total overhauling, Construction of Roads, Organising vocational training, Provision of Mass transit buses across the country but it should interest us all that "After 29months of removal of the non-existing subsidy from our petroleum, a block is yet to be laid for a new refineries and neither has the existing ones experience any repairs or overhauling, we still experience fuel scarcity and we are yet to feel the dividends of the non-existing subsidy removal and until we stop to forget our pains and the inflictors, Nigeria would remain in a standstill.
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