NNPC takes 445,000 barrels of crude daily and sells them at - TopicsExpress



          

NNPC takes 445,000 barrels of crude daily and sells them at roughly 7.5 Billion Naira daily (thats $1= N165 & A barrel costs $100). Am i right? NNPC imports 30Million litres of petrol daily at roughly 4.2 Billion Naira. (thats a litre costs N140). No one denying that. This simple arithmetic means there is a surplus of 3.3 Billion Naira remaining, and might be used to pay for logistics. So why is the federal government claiming to be paying subsidy on a litre to the tune of 43 Naira? Why? Dont you have calculators in the Ministry of Petroleum Resources? Isnt there a single government official, that understands that the subsidy idea is just a fraud and a shrewd way of making fellow compatriots rich? And lastly, why does NNPC consistently keep spending billions of Dollars (mind you, not Naira) on Turn Around Maintenance of our refineries and still up till date, none of them is operating at 50% level not to talk of optimal level. Why?
Posted on: Wed, 19 Mar 2014 08:08:55 +0000

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