wazua Wed, Mar 25, 2026
Welcome Guest Search | Active Topics | Log In

7 Pages<12345>»
Nigeria: Thrown into Chaos and a State of Civil War: The Role of the IMF
Options
Previous Topic · Next Topic
essyk
#21 Posted : Thursday, May 17, 2012 10:36:11 PM
Rank: Elder

Joined: 11/15/2011
Posts: 4,518
a4architect.com wrote:

Why cant a refinery be built in Nigeria?



The nigerian govt cant invest in building of refineries because it is currently enslaved by IMF conditionalities which control and dictate nigeria's economic policy - all of which was made possible by Okonjo Iweala and Obasanjo in 2006.

The government's inability to maintain existing refineries(few built by nigerian engineers exist though in sorry state) is as a result of corruption and greed!! that's why the nigerian govt hiked up the price of petrol (claiming they were removing a non existent subsidy)

-Investing in building refineries requires lots of energy which is lacking in Nigeria.Generators are heavily used in nigeria as a source of power.


Now why would any oil company (Shell) run away from building a ref?
As it stands, the fact that none of the oil majors is willing to touch refining business in Nigeria should tell you that the profit margins are rather low and thus do not justify the investment level.
The Nigerian Government knows this.

http://www.vanguardngr.c...inery-in-nigeria-shell/
http://www.gtforum.com/g...inery-divestments-story
“Refinery margins have deteriorated.

-There is also lack of faith in the Nigerian government's ability to do anything right.
If Shell says it doesn't want to build refineries, then hope is lost because it is the more competent member of the partnership, despite being the minority one.The Nigerian Government doesn't have a stake in SPDC. It has a 55% stake in the joint venture agreement with Shell and a few other operators

When a government doesn't perform, then people reduce their expectations of it down to zero and place their hopes in shell.

Read below link.
http://edition.cnn.com/2010/WORLD/africa/12/09/nigeria.shell.cable/index.html?eref=rss_latest&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fcnn_latest+%28RSS%3A+Most+Recent%29

May God save Kenya.We have Oil in Turkana.

The above facts came from nigerians themselves.


@ murchir.I heard about the tea packaging.
Branded locally and trend set to continue till all regions are covered.






"The true measure of a man is how he treats someone who can do him absolutely no good.
Back to top
  | | Edit by user: Thursday, May 17, 2012 11:12 PM | Reason: Not specified
accelriskconsult
#22 Posted : Friday, May 18, 2012 9:53:22 AM
Rank: Member

Joined: 4/2/2011
Posts: 629
Location: Nai
Guys very hot debate here but I can tell you that Kenya is no different from Nigeria. The economy is still controlled by less than 500 people. The rest have very little so cannot take advantage of the emerging investment opportunities. The 500 also dictate our politics. In parliament, these guys are less than 10 but they enjoy following by minions who are dumped every election cycle. New ones are bought and co-opted. If we do not break the 500 group hold on power, we will never wrest the economy away from them. Expect more stories of resource fed corruption. Expect to hear of the economy being auctioned to the highest bidders and some people running private militias. We are on the wrong course and we need to change!
Back to top
WWW
  |
young
#23 Posted : Friday, May 18, 2012 10:28:26 AM
Rank: Elder

Joined: 6/20/2007
Posts: 2,075
Location: Lagos, Nigeria
Folks, this arguements do not make sense as it half truths and hearsay, you are basing you arguement on what you read and believe and not the reality.
How much of Nigeria or west africa do you know? Is it just sitting in Nairobi to read stories about a place that makes you informed and up to date about the happenings in other parts of Africa ? That is mostly what most of you folks in Kenya do.

For your info Nigeria has 3 refineries:-

Kaduna establised in 1980
Warri established in 1978
Port Harcourt Established in 1965.

That is my final word on this as there is no need participating in blind arguement.

http://en.wikipedia.org/..._oil_refineries#Nigeria


Best Regards
The wazua spirit as members is to educate and inform and learn from others within the limit of what we know in any chosen area irrespective of our differences in tribes, nationalities, etc. .
Back to top
  | | Edit by user: Friday, May 18, 2012 10:29 AM | Reason: Not specified
a4architect.com
#24 Posted : Friday, May 18, 2012 10:32:18 AM
Rank: Veteran

Joined: 1/4/2010
Posts: 1,668
Location: nairobi
@accel..true..these 500 or so people work to enable the Worldbank/IMF completely destroy Kenya's economy.
Only when a critical mass of Kenyans begin to see that the main source of problem is the Worlbank/IMF contracts that we can remove ourselves from this yoke...these 500 or so people are played like puppets by the West -they in turn play the masses in the same manner by first dividing them in tribal groupings..

Looking @ martha Karua's tweets, its clear she still has no idea what ails the country..to her its tribalism e.t.c
As Iron Sharpens Iron, So one Man Sharpens Another.
Back to top
WWW BLOG
  |
a4architect.com
#25 Posted : Friday, May 18, 2012 10:33:45 AM
Rank: Veteran

Joined: 1/4/2010
Posts: 1,668
Location: nairobi
@young..with the 3 refineries, why do you still import petrol and diesel? Are the refineries working under-capacity?
As Iron Sharpens Iron, So one Man Sharpens Another.
Back to top
WWW BLOG
  |
essyk
#26 Posted : Friday, May 18, 2012 11:44:59 AM
Rank: Elder

Joined: 11/15/2011
Posts: 4,518
young wrote:

How much of Nigeria or west africa do you know?
We interact with the west at different levels young.We dont have to be in Nigeria to know what takes place there.That is why forums,media etc exist.
Is it just sitting in Nairobi to read and engage the west
stories about a place that makes you informed and up to date about the happenings in other parts of Africa ? That is mostly what most of you folks in Kenya do.
Seriously young?? In this day and age you can dare say that? Why does the internet exist? These issues are discussed and brought to our attention daily.It's a global village we have.It's just proper to post sources not rumours.

For your info Nigeria has 3 refineries:-

Kaduna establised in 1980
Warri established in 1978
Port Harcourt Established in 1965.

That is my final word on this as there is no need participating in blind arguement.

http://en.wikipedia.org/..._oil_refineries#Nigeria


Best Regards


Young I don't sit in Nigeria But I know what takes place there on a daily basis.
U sabi that?

In 2008 Your Minister for works said that the goverment plans to build 3 new refineries and Nigerians wondered why the 3 existing are not operational and functional.

Fast forward 07 Mar 2012

http://www.thisdaylive.com/articles/fg-rules-out-building-of-refineries-as-condition-for-awarding-acreages/110837/
Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, Tuesday ruled out the possibility of building refineries as a precondition in the allocation of acreages in the oil and gas sector of the nation’s economy.

The minister said it was not possible to insist that all acreages would host a refinery but added that what was rational was to determine how many refineries would be commercially viable in the country and approved such while the government was working with the original builders of the existing refineries to return them to at least 90 per cent refining capacity


The government is powerless against those who destroyed the 3 refineries, cos they are private refineries, owned by the Chinese, with the FG holding some shares.
The Chinese were in it to make profits, not get paid for bogus imports.

Government run businesses in Nigeria and many other African nations are simply another way of milking public funds.

This brings me to this conclusion and correct me Young if am wrong.

Why can't the federal government put some of these decayed refineries in private hands? The 3 refineries have been there for too long without producing anything(state of disrepair).

My other question, Which Private companies will invest in building the refineries if shell is hesitant to do so? They make more through exploration/mining as refining to them isn't profitable.

I am no expert just a reader so please enlighten me/us.

You know Young,a nigerian once asked me what the Turkana oil excitement is all about since oil to them has become a curse.
If we play about we may end up the same way.

"The true measure of a man is how he treats someone who can do him absolutely no good.
Back to top
  | | Edit by user: Friday, May 18, 2012 12:06 PM | Reason: Not specified
a4architect.com
#27 Posted : Friday, May 18, 2012 3:32:56 PM
Rank: Veteran

Joined: 1/4/2010
Posts: 1,668
Location: nairobi
At present only 10 % of rural households and 40 % of the country’s total population have access to electricity. The Nigerian Energy Commission and the Solar Energy Society of Nigeria have been tasked with generating a solar-powered solution for the remote rural dwellers not served by the national power grid.

Nigeria exports electricity to neighbouring Niger via a 132 kV interconnection constructed in 1976.

The Nigerian government is in the process of privatising existing facilities.

It has been reported that NEPA is to be split into 30 units to facilitate its privatisation. The current NEPA is to be broken into smaller units to make it more manageable and attractive to investors. The government is seeking independent power producers to generate and sell electricity to NEPA.

Declining electricity generation from a number of domestic power plants sent the country into an energy crisis during 2000/2001. President Obasanjo introduced a number of measures to ensure that a consistent supply of power was available by the end of 2001.

The country's electrical power demand is high but actual generation is considerably below demand. As a result, Nigeria has experienced an energy supply crisis in recent years. The country is looking towards further development of the country’s hydropower resources to curtail the crisis.

http://www.mbendi.com/indy/powr/af/ng/p0005.htm

http://allafrica.com/stories/201007280623.html
As Iron Sharpens Iron, So one Man Sharpens Another.
Back to top
WWW BLOG
  |
tony stark
#28 Posted : Friday, May 18, 2012 4:00:14 PM
Rank: Veteran

Joined: 7/8/2008
Posts: 947
young wrote:
Folks, this arguements do not make sense as it half truths and hearsay, you are basing you arguement on what you read and believe and not the reality.
How much of Nigeria or west africa do you know? Is it just sitting in Nairobi to read stories about a place that makes you informed and up to date about the happenings in other parts of Africa ? That is mostly what most of you folks in Kenya do.

For your info Nigeria has 3 refineries:-

Kaduna establised in 1980
Warri established in 1978
Port Harcourt Established in 1965.

That is my final word on this as there is no need participating in blind arguement.

http://en.wikipedia.org/..._oil_refineries#Nigeria


Best Regards


@ Young,

I do hope you can enlighten some of us. There is a lot of the foolish and stupid statements being spewed out here.

Our wazua arm chair pundits are well placed to confuse and misinform. These same pundits know exactly what is wrong with Kenya and what should be done but have never done a thing to right the wrongs.

The only thing lacking in these Wazua pundits is their lack insight into their own shortcomings, mainly stupidity, which clouds their judgement and reasoning.

My request to you is to add some knowledge to this discussion.

That is the beauty of Wazua it allows stupidity and knowledge in equal measure.


Back to top
  |
a4architect.com
#29 Posted : Friday, May 18, 2012 7:11:11 PM
Rank: Veteran

Joined: 1/4/2010
Posts: 1,668
Location: nairobi
@tony starks..i dont see any stupid statements here. The issue is this:
1.Nigeria produces 2 million barrels of oil per day=fact
2.Nigeria exports crude then imports petrol and diesel=fact.
3. What ails Nigeria for it to allow this to happen=debateable

This guy here thinks its coz of Worldbank/IMF

http://www.boilingfrogsp...e-of-the-imf/#more-11379
As Iron Sharpens Iron, So one Man Sharpens Another.
Back to top
WWW BLOG
  | | Edit by user: Friday, May 18, 2012 7:19 PM | Reason: Not specified
murchr
#30 Posted : Friday, May 18, 2012 8:30:38 PM
Rank: Elder

Joined: 2/26/2012
Posts: 15,980
tony stark wrote:
young wrote:
Folks, this arguements do not make sense as it half truths and hearsay, you are basing you arguement on what you read and believe and not the reality.
How much of Nigeria or west africa do you know? Is it just sitting in Nairobi to read stories about a place that makes you informed and up to date about the happenings in other parts of Africa ? That is mostly what most of you folks in Kenya do.

For your info Nigeria has 3 refineries:-

Kaduna establised in 1980
Warri established in 1978
Port Harcourt Established in 1965.

That is my final word on this as there is no need participating in blind arguement.

http://en.wikipedia.org/..._oil_refineries#Nigeria


Best Regards


@ Young,

I do hope you can enlighten some of us. There is a lot of the foolish and stupid statements being spewed out here.

Our wazua arm chair pundits are well placed to confuse and misinform. These same pundits know exactly what is wrong with Kenya and what should be done but have never done a thing to right the wrongs.

The only thing lacking in these Wazua pundits is their lack insight into their own shortcomings, mainly stupidity, which clouds their judgement and reasoning.

My request to you is to add some knowledge to this discussion.

That is the beauty of Wazua it allows stupidity and knowledge in equal measure.





You and Young belong to the class of citizens who dont understand why people die of hunger yet there is alot of food in the supermarkets. I advise you subscibe to Economics 101 to get some enlightenment Shame on you
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
Back to top
  |
7 Pages<12345>»
Forum Jump  
You cannot post new topics in this forum.
You cannot reply to topics in this forum.
You cannot delete your posts in this forum.
You cannot edit your posts in this forum.
You cannot create polls in this forum.
You cannot vote in polls in this forum.

Wazua Investor Theme
Powered by YAF | YAF © 2003-2009, Yet Another Forum.NET
Copyright © 2026 Wazua.co.ke. All Rights Reserved.