Tweet

Olofu

16 Mar, 11 tweets, 5 min read

@NigeriaGov

The fundamental issues of the exorbitant amount we pay to buy PMS isn't being tackled! @NigeriaGov and @NNPCgroup are the only parties that can explain the type of deregulation we are practising in Nigeria.
{A Thread}
@PPPRAtweets @DPRNigeria
#DeregulateNigOil

The federal government has continue to engage in "monopolistic deregulation" of the downstream sector. A monopolistic deregulation as a system where the deregulation mechanism and the field are reserved for only one or few selected players
#DeregulateNigOil

The Govt. have failed to allow market forces to determine the petroleum pump price in the country, there is a need for government to enforced total deregulation of the petroleum downstream sector.
#DeregulateNigOil

The government through the Nigerian National Petroleum Corporation, NNPC has been the sole importers of petrol and few markets operating crude for refined white product under the name...

#DeregulateNigOil

...Direct Supply Direct Purchase, DSDP which negates the principle of market deregulation of the sector.
#DeregulateNigOil

Government announced full deregulation of PMS (petrol) in march 2020 but we witnessed price band control up to August 2020.
#DeregulateNigOil

From September, the price band control was withdrawn with the hope that full deregulation will surface but what we have been experiencing now is monopolistic deregulation.
#DeregulateNigOil

NNPC is the only player allowed to access forex for importation of petrol in addition to the crude for petrol handed down to few players in the industry.
#DeregulateNigOil

Government should allow all players to participate in the deregulation processes so that we can bring private-sector efficiency to the system which will bring down the price.
#DeregulateNigOil

@HETimipreSylva

There is need for government to allow other players into the market to import petrol by making FOREX available at CBN official rate as promised severally by the Minister of State for Petroleum, @HETimipreSylva
#DeregulateNigOil

The Federal Government should make forex available to oil marketers for import so as to drive down petrol price.
#DeregulateNigOil

• • •

Missing some Tweet in this thread? You can try to force a refresh

This Thread may be Removed Anytime!

Twitter may remove this content at anytime! Save it as PDF for later use!

More from @sheiduhabib_

Olofu

@sheiduhabib_

17 Mar

@NNPCgroup

@NNPCgroup is the only company that I know that reward failure greatly!

They released an audit financial statements for 2018, noting that its refineries recorded losses of N154 billion and still spend N 23 billion yearly on wages and benefits!😪

{Thread]
#NNPCAuditReport

@NNPC

The under-remittances, underpayments, inefficiencies, theft or absence of clear fiscal regime in @NNPC if not curbed will finish this country. WE NEED TO COMMERCIALISE NNPC NOW OR DIE SOON!
@NigeriaGov @nassnigeria @femigbaja @DrAhmadLawan
#NNPCAuditReport

Crude oil is Nigeria’s most important non-renewable energy source, accounting for around 90% of export earnings, yet for decades, the industry has been troubled by bad leadership, corruption and environmental degradation.
#NNPCAuditReport

Read 13 tweets

Olofu

@sheiduhabib_

16 Mar

@NNPCgroup

It's now a sad case of if @NNPCgroup doesn't kill Nigeria, Nigeria will kill NNPC. The wastage and corruption in NNPC is an eyesore, the saddest part is if the govt. fail to fund NNPC, it will collapse!
{A SAD Thread}
#NNPCAudit

In 2011, an audit report by KPMG revealed the agency couldn’t account for about 28.5 Billion dollars over deducted funds in subsidy claims.
#NNPCAudit

In 2013, a controversial letter by Sanusi Lamido to Goodluck Jonathan, he claimed that NNPC had not remitted $49billion from crude oil sales.
#NNPCAudit

Read 19 tweets

Olofu

@sheiduhabib_

21 Jan

@nassnigeria

It’s shameful that Nigeria has the largest reserves in Africa but was able to only receive 4% of the amount invested in the continent between 2015-2019.

#FixNigeriaPassPIB
@nassnigeria
Thread

The delay of the PIB is costing the economy an approximated US$200billion annually according to NEITI, in addition to US$15billion lost due to decreased investments.
#FixNigeriaPassPIB

The non-passage of the Petroleum Industry Bill by the Nigerian Government has continued to wreak havoc on the country, especially as it makes Nigeria’s oil and gas sector less attractive to investors.
#FixNigeriaPassPIB

Read 21 tweets

Olofu

@sheiduhabib_

20 Jan

@nassnigeria

Worldwide, the average life expectancy rate is about 70 years, life expectancy in the Niger Delta is 41yrs. The oil spills in the Niger Delta have negative implications on local human health and has made malnutrition predominant...

Thread
#NigeriansDemandPIB
@nassnigeria

...as the region is only capable of producing small portions of food unaffected by oil spills.

The development of the Niger Delta is sacrosanct and having a solid piece of legislation is very important.

#NigeriansDemandPIB

There is no doubt that efforts to transfer benefits to the Niger Delta region over the years like the 13% Derivation fund, NDDC and so on have been marred by corruption.
#NigeriansDemandPIB

Read 14 tweets

Olofu

@sheiduhabib_

19 Jan

@nassnigeria

Fot the past 20 years of trying to enact a reform in the oil sector, the Niger deltans have continued to suffer. Multinational companies are making huge profits while majority of the people live on less than $1 a day.

A Thread

Retweet!
@nassnigeria

#NASSRevisitPIB

The economy in the Niger Delta is almost exclusively oil driven, and many people are involved, illegally, in oil extraction. The Niger Delta bear the burden of environmental degradation from the oil industry, but see very little of the benefit.
#NASSRevisitPIB

Life expectancy in the Niger Delta is 41yrs. What causes this? The degradation of the environment from oil exploration activities. The environment has been visibly ravaged and it affects the economic activities and livelihoods of the people in the region. #NASSRevisitPIB

Read 15 tweets

Support us! We are indie developers!

This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!

Share this page!

Olofu

Try unrolling a thread yourself!

More from @sheiduhabib_

Olofu

Olofu

Olofu

Olofu

Olofu

Did Thread Reader help you today?

Like this author's thread?