U MUST READ TO KNOW HOW WE GOT HERE AND THE DANGER AHEAD.
How did we get to were we are today, buying petrol for N65 Diesel for above N150 and kerosene for above N120? Subsequent rulers before President Obasanjo have initiated the conspiracy theory of selling Nigerian major economic sectors and buying them back backdoor. How can this happen, they have to create a need for the selling. They started by refusing to invest in the maintenance and upgrading of these sectors e.g. refinery, power, telecommunication etc. these later lead to inefficiency on the part of these sectors. Another tactics used is by posting compromised personnel to head this sector so as to facilitate the crippling and destruction of the sectors. When the effect of the inefficiency, fraud and corruption begin to have its toll on the citizen, there is uproar. When people notice the inefficient and nonchalant attitude of this administrator or their act of corruption and notify the government, the presidency turn deaf ear to the complaint and indictments. Even if they decided to act, they end up putting another person who is worse than him to maintain the status quo so as to achieve their aim. This act of impunity and corruption goes down the drain of such ministry and it is watched for a purpose. An example is NEPA. These inefficiency and corruption always leads to shortage of such product or service e.g. shortage of petroleum product which leads to long queue at filling station, epileptic power supply or total outage. The government will then introduce their game by telling the people that the only way out of the doldrums is by privatizing the sector. They will make it look very promising and paint it as the only solution to the scarcity, corruption and inefficiency. They will shy away from the fact that they have slack in their responsibility of performing oversight function and doing checking and balance on the personnel administering the sectors. Looters are made to go free while fraudulent public office holders are pardoned of their iniquities at the expense of the people to achieve their aim. The bible says “Ecclesiastes 8:11 because the sentence against an evil work is not executed speedily, therefore the heart of the sons of men is fully set in them to do evil.
In other clime government agency run side by side with private ones in providing services. The duty of government owned sector is to protect the interest of the citizen and also protect them from exploitation, monopoly and cartels. If the government fail to serve as a watch dog to private sectors they will collide together to form a clique which resulted in a cartel or monopoly. Examples are Dangote group and the oil cabal in Nigeria who receive the unaccounted subsidies from government as revealed by late President Yaradua. Government must stand to control the arm of demand, supply and price so that the private sectors do not create artificial shortage in supply to drag price up arbitrarily. A government who is quick to introduce privatization by handing off the business (social services) and throwing it in the hand of the private profit driven business men have handed the destiny of her citizen into the hand of hulks and mosquitoes.
This was the conspiracy in oil and power issue and other sector that has failed to improve perform in the last thirty years in the country. During the time of babangida up till the present moment the deception that have brought petroleum product to the present price goes thus. At any moment that scarcity of petroleum arises government come out to tell us that this was caused by the smuggling of these products to neighboring country where the price is higher. For this government to address the issue of loophole in our border they cajole us that the solution is to increase the price to be at par with what obtain in the neighboring countries. During this time our refineries where still working. What they said to placate Nigerian to stop the protest then was that the gain accrued from the unnecessary hardship placed on Nigeria will be plunged back to develop our infrastructure. But since then our infrastructure has not only been left unattended to but that looters of these my sweat and yours have been given immunity, state pardon and plea bargain to escape justice and to encourage upcoming looter. After a little price up push they stops and up they go again until we get to this point. The case of Nigeria citizen could then be liken to a person who is deceived to climb a ladder after getting to the roof then the ladder is removed. By the time the price of petrol reaches the top, our refineries have been destroyed. Then we can not go back to our formal state and the only option left for us is to adopt subsidies i.e. petroleum product will be bought for us at international price and subsidized for government to pay part of the cost.
During the regime of Obasanjo, a total sum of approximately 900 billion was said to have been spent on the maintenance and repair of our refineries to no result. President yaradua revealed sometimes that Nigerian spends 900 billion in three years to subsidize petroleum products. If these are to be broken down to arrive at how much this government spends to subsidize a litter of fuel, we arrive at the following calculation. Going by DPR submission that Nigerian consumes aprox 30 million litters of petrol, 18 million litters of diesel and aprox 15 million litters of kerosene per day and in tandem with the fact that it cost us 900 billion naira in 3 yrs we calculate as follows:
365 days makes one year X by 3 years = 1095 days
900,000 billion naira / 1095 days = N821, 917,808.21 million
That is N821, 917,808.21 million is spent to subsidize petrol, diesel and kerosene par day
(Note: this was b4 diesel and kerosene was deregulated. Deregulation mean removal of subsidies i.e. government monetary assistance)
30 million litter of petrol + 18 million litters of diesel + 15 million litters of kerosene
= 63 million litters of subsidize petroleum product (daily consumption) divided by daily subsidies of N821, 917,808.21 =
+ / - N13 subsidies being paid per litter of product every day
This is plus or minus N13 due to the fact that each product (diesel petrol and kerosene) price per liter varies in international market.
If Venezuela can buy petrol at N2.20k then what is our problem? One will say it is the unavailability of refinery. If Venezuela has 18 refineries both in and outside the country what stop us from having at least the one that will refine the 63 million liters of petroleum product needed. This take us into another calculation of what capacity of refinery will be able to refine our daily consumption and how much of our daily export output are we consuming?
A barrel of crude oil contains 159 litters of products or 42 gallons; it is broken down as follows:
Petrol 72.5 litters i.e. 19.15 gallons
Diesel 35 litters i.e. 9.21 gallons
Jet fuel/ Kerosene 14.5 litters i.e. 3.82 gallons
Petrol chemical, feed stocks,
Bitumen etc 27.5 litters i.e. 7.27 gallons
Liquefied petroleum gas 6.5 litters i.e. 1.72 gallons
Heating oil 6.6 litters i.e. 1.75 gallons
If a barrel of crude oil contained 72.5 litter of petrol after being refined, therefore a daily consumption of 30 million litters will be generated from the following number of barrel of crude:
30 million litters divided by 72.5 litters = 413,713 thousand barrels of crude. Since kerosene and diesel is contain in the same barrel and also generated alongside with petrol in the same barrel, the above 413,713 have accommodated the 18 million litter of diesel and 15 million liters of kerosene.
Daily output presently is 2.6 million barrel of crude, deduction 413,713 from this is calculated as follows:
Daily output 2,600,000 barrels
Daily consumption - 413,713 barrel
Total remain after daily consumption = 2,186,287 barrels
The percentage of our daily consumption to our daily output =
100 x 413,713
1 2,600,000 = 15.9 %
This clearly show that we consume 15.9 % of our daily output
It clearly show that what Nigeria need to refine to give you and I the three basic petroleum products is just 413,713 barrels of crude.
The greatest surprise here is that India just built the world largest refinery just for the cost of 6.1 billion dollar most of other nation refineries cost between 2 to 4 billion dollars depending on the refine capacity.
India refinery is built to refine 1.2 million barrel of crude per day.
http://www.freerepublic.com/focus/f-news/1656901/posts#comment#comment
Fellow Nigerian how many 6.1 billion dollar can we have in 30 billion excess crude account squandered by our leaders between 2007 and now? You should know by now why they refuse and also refuse others from building us a refinery. They have engaged us on a waiting game all these years.
Sour
SEE BELOW TO KNOW THE HISTORY OF PETROL PRICE INCREASE ACCORDING TO DATE FROM THE REGIME OF YAKUBY GOWON TILL DATE:
Petrol now N65 a litre
By Yakubu Lawal
“Under former President Olusegun Obasanjo administration, the fuel price was hiked from N11 to N20 per litre in June, 1999.
Despite nationwide protest, the price went up to N22 per litre, June 13, 2000.
On June 1, 2002 it went up to N26 per litre, between June 2003 and October 2003, to N34 per litre and later N42 per litre.
In 2003, Obasanjo, for the first time introduced petroleum tax in place of another veiled increase of petrol pump price, which was successfully resisted by Nigeria Labour Congress (NLC) and the civil societies.
On May 29, 2004, the price went up to N50 per litre and N65 on August 25, 2004, shooting up again to N75 on May 27, 2007 just 48 hours to the end of Obasanjo's tenure. This inheritance by the President Musa Yar'Adua administration did not survive as workers via the labour organisations protested with a shut down. And the new government succumbed with a cut to N70 per litre, which subsisted till last night.
Earlier, in 1973 the military government of Gen. Yakubu Gowon increased the price of petrol to 9 kobo per litre while Gen. Obasanjo's regime (1976 - 1979) raised it to 15 kobo per litre in 1979.
In 1986, Gen. Ibrahim Babangida's administration took the price to 39 kobo per litre and raised it again to 51 kobo per litre in 1999; 70 kobo a litre in 1991 and N3.25 kobo in 1993
In 1994 the late Gen Sani Abacha took it up to N11 per litre and set up the Petroleum Task (Special) Force (PTF), to use the proceeds for development of infrastructure and social amenities.
In 1997 Abacha took it up to N20 per litre.
Since then, the price of fuel has continued to rise. The only reason often claimed for the hike by all governments was that the government was subsidising the price of petrol by various figures.”
READ THIS AND PASS IT ALONG. JOIN IN THE TEAM THAT WILL RELEASE NIGERIAN FROM IGNORANCE WHO CONTINUE TO ACCEPT AND TAKE THIS EVIL OF DEREGULATION AND SWALLOW IT WITHOUT QUESTION. Act now so that the baton of slavery is not pas over to your children. From Pastor Ayoola Iyana Ipaja [email protected] u can also contact on face book “pastor ayoola iyanapaja”
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