“I audited NNPC payments and found $49B missing. I wrote the President GEJ, but he didn’t respond. 4 months later, Obasanjo got the letter and gave the media. GEJ called a secret meeting, accounted for $29B but couldn’t explain $20 B. He then suspended me.”
—Sanusi II
RESTORING PETROLEUM SUBSIDIES THAT ELIMINATES CORRUPTION, ENHANCES PRODUCTIVITY, JOB GROWTH AND ALL INCLUSIVE PRODUCTIVITY....
HOW WILL IT WORK ?
WE HAVE 3 NNPC OWNED AND MANAGED REFINERIES...WITH COMBINED NAME PLATE CAPACITIES OF 445,000 BARRELS A DAY ....
Sell off these three refineries as scraps to deep pocketed and technically saavy private sector investors .....
✍️210,000 barrels per day refining capacity is already in place in PH.... The new private sector buyers can easily co-locate another new 160,000 barrels per day refineries plant there ...bringing the total capacity to 370, 000 barrels a day utilizing the existing offsite facilties there to reduce total capital outlay
✍️370,000 barrels +125,000 barrels a will give us total of 495,000 barrels a day....
✍️These two refineries, owned under this unique JV arrangements will utilise the 445,000 barrels crude allocation to the NNPC to refine and sell gasoline in the domestic market under an agreed/ DEFINED "at cost" plus 20%-30% margin arrangements...
✍️A PPP Special Purpose Vehicle should be created with members of the organised Labour, IPMAN, NUPENG etc as Board members with sovereign guarantees to offtake, whatever white Petroleum Products that are refined in this JV refineries.
✍️THIS white Petroleum Products offtake SPV will play similar role like what the Nigeria Bulk Electricity Trading PLC [NBET] is doing for the power sector .
✍️It is also there to ensure that no white Petroleum products produced under this unique JV arrangements for domestic consumption is smuggled out of Nigeria
✍️ WE CAN ALSO IMMEDIATELY ENTER INTO SIMILAR SUBSIDISED PRODUCTION ARRANGEMENT WITH DANGOTE REFINERIES FOR DOMESTIC CONSUMPTION
EVERY SERIOUS COUNTRY OF THE WORLD, PRIORITISES DOMESTIC ENERGY SECURITY
✍️The average cost of crude oil production per barrel in Nigeria ranges between $21 to $31...Lets use the upper band for our simulation and ideation .....
✍️Average Cost of refining a barrel of crude oil with all costs [fixed and variable costs] amortised over a long term is about $10 per barrel.
✍️20% margin on the white Petroleum products pricing [[ assuming an 85 white Petroleum products [Gasoline, GasOil, DPK and HGLs yield, off a barrel of crude ] produced from total cost of CRUDE PRODUCTION [off OPEC quota ] plus refining cost per barrel is about $10 per barrel ...
✍️Total cost of crude supply [ off OPEC quota ], refining cost plus 30% margin under this unique arrangement will come to about...$53.30/N79,950 barrel or N506per liter of white Petroleum products at the Refineries...
✍️If these special/ novel scheme of arrangements /partnership that provides domestic subsidies on crude production and refining, using the off OPEC crude oil volume utilization are transparently executed, a liter of the gasoil , gasoline and other white Petroleum products will never sell for more than N600 to N700 per liter anywhere in Nigeria, no matter what happens/ the volatility in the global crude and refined products markets prices ....
✍️The 445,000 barrels of crude oil that we daily squnder under the opaque DSDP swap arrangements,.that do not benefit Nigeria will be utilised for this special arrangements...
✍️This is me musing deeply on how we can rescue Nigeria and help the poor and SMEs to truly breathe
✍️I need more intellectual inputs to this ideation ....
KINDLY NOTE THAT WE HAVE CREATED DIGITAL FOOL PROOF MITIGANTS TO SAFEGUARD KITING OF THE PRODUCTS PRODUCED FOR DOMESTIC CONSUMPTION OUTSIDE NIGERIA...
Thank you
Obiaraeri, Nnaemeka Onyeka
08134441140
What do you think about this 50 year roadmap for the South East?
Aba - Manufacturing.
Make it the factory of Africa.
Onitsha - Trade & Logistics.
Build Africa’s most efficient commercial and distribution hub.
Nnewi - Engineering & Industrial Production.
From spare parts to machines, automobiles and advanced manufacturing.
Awka - Technology & Skilled Talent.
Build the engineers, technicians, software developers and craftsmen our industries need.
Enugu - Education, Research & Innovation.
Turn it into a university city where knowledge becomes companies, patents and industries.
Ebonyi - Agriculture, Food Processing & Solid Minerals.
Stop exporting raw produce and minerals. Process everything here.
Owerri - Technology, Creative Economy & Hospitality.
Build a city that attracts young talent, startups, entertainment and tourism.
Umuahia - Agriculture, Biotechnology & Agro-industry.
Research what we grow. Improve it. Process it. Export it.
Then connect ALL of them with rail, reliable power, broadband, highways and a single regional market.
Kwankwaso: Tinubu's Subidy Removal Put Nigeria in Total Mess, We Will Bring Back Subsidy in Our Own Way
The removal of fuel subsidy remains one of the most consequential decisions of the Tinubu administration and its fallout is still shaping the political debate heading into 2027.
In an exclusive interview with ARISE Correspondent Adesuwa Giwa-Osagie, former Kano State Governor and NDC vice-presidential candidate Rabiu Kwankwaso says President Bola Tinubu’s decision to scrap the subsidy on day one was a mistake that has left Nigeria in what he calls a “total mess, economically.”
Kwankwaso says an NDC government would bring the subsidy back but in a different form, in an apparent break with his own running mate, Peter Obi. He insists the party will do “whatever it takes” to bring the price of fuel down
JUST IN: 🔥
The Anambra Elders who gathered to go beg Obi in Fidelity to come & govern Anambra passing their verdict on him in 2014.👇🏽
“He towered above every Governor in Nigeria” - Prof ABC Nwosu
You can tell that they feel so PROUD haven rescued a previously “Failed State”.