Mr Economist directed the government to fix our refineries and stop borrowing with our crude oil. Tell the government to stop oil theft and boost production. Fuel should be less than 300 if our refineries are working. There is no reason why a crude oil exporting country should be importing fuel.
How do you sell fuel at 300 naira per Litre when you're buying crude at $80 per barrel? Even with all the refineries working, it's not possible!! Mind you NNPC will also be getting the crude at the global market price because it is a highly competitive market with private operators and as such there must be a level playing ground... So how do you expect fuel to sell at 300 at this moment?
In spite of this mess, the govt is still prodigious. If there's anything time Nigeria political elites should be reasonable, sensitive and patriotic by tightening their belts, it is now. But will they do?
Nigeria is in a deep mess. I am not sure the political class and even the citizens realize the risk that stares us in the face. Should anything happen to crude oil price such that it falls below a certain point, Nigeria will be in a serious crisis. The life wire of the nation is crude oil. We had all the opportunity to use the gains of crude to develop and open up other sectors to support sustainable growth and reduce our exposure to concentration risk but we never did anything. Even now, it doesn't seem like we have learnt anything seeing how the political class is carrying on, spending and living lavishly like tomorrow is assured.
Nigerian Government is incapable of learning 🤡 Its oil & gas forever. They have no interest in manufacturing industries, their brains are too small for such diversification
We need to know how much crude oil we actually pump each day. Oil theft is one major issue. We are playing Russian Roulette with it. Then, we should be pumping more . Nigeria can do up to 3000 barrels per day to meet domestic obligations to Dangote and others. The talk about subsidy needs to be investigated. HOW MANY LITRES do we actually consume in Nigeria? We need to investigate it. We can't pay so much for a natural resource we own. It is our foolishness and wickedness.
Ogas at the top are the ones stealing crude oil. Fmr. Military HoS, Generals, top civil servants, politicians like your current oga at the very top who owns OANDO 😂😂😂
The problem is not that the price of pms is over N1,250. Rather, the main problems are 1. Inflation and 2. The price will not remain there as long as the value of the Naira keeps dropping, and the value of the Naira will keep dropping because more Naira will now be chasing less $.
A good conversation from a patriot,s point of view. But will the corrupt gangsters allow this refinery. NNPC is the greatest obstacle and adversary because the Dangote refinery is about breaking their monopoly in this sector. That is why they are up.in arms with their collaborators.
Same economist that came out to say government workers buys rice @ N40k and sale @ N80K and that was why the government decided to stop the sale of the said rise. I will never in my life take any sheet coming out of this guy's mouth claiming to be economist. I pray that may Nigeria happen to you one day
UNTIL YOU BREAK UP WITH OPEC, SO THAT YOU CAN BE FREE TO DECIDE AND FIX THE PRICE WITH WISDOM IN FAVOUR OF THE CITIZENS, YOU WILL NEVER HAVE PEACE IN THE PETROLEUM INDUSTRY.
@@zeeone4492 they have oil.... The USA produces oil. Gas is higher there. Your gas is still cheap. The Nigeria refinery WILL NEVER BE A SUCCESS. The Saudis and the West will not allow it. Africa has a mandate for forever failure. They will kill him or destroy the refinery. Watch His own people will do it ... Nigeria seaedl their death warrant by building the refinery.
That's the reason why the illegitimate president Tinubu who has held Nigeria under state capture quickly devalued the Naira at the same time after removing the fuel subsidy.
Until Nigeria break up with IMF and it's conditionalities, no progress will be made. The last time I checked the list of countries with IMF loans, with majority of African countries dominating I know we are doomed.
arise please stop bringing this failed Economist here since 2015 time till today he has advice Nigerian govt doom I know he is from delta Oga not want him brother to hungry dey make am relevant ,Rewane and Pinnik Amaju has been the worst people that have come out of DELTA STATE
