Published:25 Oct, 2011

Question: Sir, what is your view on the subsidy question?
Gen. Buhari (rtd.): I don’t understand what the Nigerian economists and members of Government mean by their definition? That they are subsidizing Nigerian crude oil. Who is subsidizing who?
The Nigerian oil industry was developed with Nigerian capital. Most of the expertise is Nigerians, if you go into the field.
It is Nigerian capital, Nigerian oil. What I understand Nigeria should charge Nigerians is the cost of getting oil from the well and then the cost of transportation to the refinery, cost of refining and its cost at the pump.
If anybody says he is subsidizing anything, he is a fraud. So when these people talk about subsidy… who is subsidizing who?
But there is so much fraud as I said before so I don’t talk about it. But the day I have to talk about it, I will ask the Petroleum Economists to come and tell me who is subsidizing Nigerians? Nigerian Oil? Whose oil is it?
We have four refineries with the capacity of four hundred and eighty thousand (480,000) barrels per day. That is if they are functioning at full capacity, because of corruption, they have virtually allowed those refineries to become so inefficient that I don’t think they produce up to half their capacity. Now instead of taking the balance of what we have outside to be refined outside as we used to ,when there was a Turn Around Maintenance (TAM) when I was in Petroleum, hardly Nigerians know. Because we negotiate with oil companies, we say ok Nigerians use two hundred thousand (200,000) barrels a day, take two hundred thousand (200,000) barrels a day, you refine it, you bring the refined product back to us, you sell the rest of the thing we don’t need. And then you call it subsidy. It is Nigerian crude. Who asked them to take commission for what they have refined?
Then our refineries, we built three (3) more refineries. It used to be one in Port Harcourt. We built another one in Port Harcourt, One Hundred and Fifty Thousand (150,000) capacity with the old one of Two Hundred and Fifty Thousand (250,000) capacity, Warri One Hundred Thousand (100,000) capacity, and Kaduna One Hundred Thousand (100,000) capacity. Is there supposed to be any cut? Now if you are taking Two Hundred and Fifty Thousand (250,000) barrels to be refined outside. All you have to do is to fill the fee for this refining and you bring your own oil inside it, and the people are saying that they are subsidizing. Who are they subsidizing? I don’t understand it and I need the Petroleum economist to explain to me this question of subsidy. It is sheer fraud and corruption!

  • Azeenarh

    ‘Sheer’ not ‘share’ corruption

  • Peace Man

    Nigerians lets know what we are doing…The PDP has no any good intention to us, they just their to loot our resource and enriching themselve… with the resources that meant for development and impacts of our live… Nigerians lets wise up… lets understand the reality, lets differentiate between religion and politics…Nigeria is for all of us, there’s no reason for us to suffer, we’re a citizens of a renoun oil nation.. As matter of fact we need somebody like Muh’d Buhari to lead this country for change

  • waheedah

    Clearly this issue of removal of fuel subsidy is a giant looting medium the present administration wants to use to loot more of the country’s wealth. We the masses have to seriously stand up against it before it’s implemented and we are left to suffer for it as always. ENOUGH is ENOUGH!!! Kudos omojuwa. Keep up the great work. As always, you are an inspiration.

  • Muyiwa Shore

    “I”ll install peace to run your country, make Righteousness your boss. There”ll be no more stories of crime in your land, no more robberies, no more vandalism. You”ll name your main street Salvation Way and install Praise Park at the center of town.” (Isaiah 60:17-18, The Message) O Lord, visit Nigeria and do exactly as you have promised, Amen.

  • Cade Agbugba Adams

    The Nigeria public and private sector shouldn’t keep their eyes of the ball “in seeking new ways to subsidize our leader’s lack of vision in investing in renewable energy.

    Our Advance Mobile Waste and Power station can process up to 5 tons of municipal solid waste into up 5 MW power and heat(that can be used for cooling system) and its residual ash can be used for construction works.

    For Advance Waste to Energy (WtE) Solution please visit my company website and will be happy to answer any renewable any questions you may have…like how to become an eco-entrepreneur – Ecopreneurist (the hottest business idea today for start up)

  • Pingback: IS THERE REALLY A SUBSIDY? a few random takes from those who should know! « yomzie()

  • anas

    Hmmmmm. Tell a tale. The history of once a great nation.crumbled to its stomach by its own ofsprings. Ha Niger area. See wat uve become. U dat we ahv giving d best off nature. Some hw I feel nats wort is being said to our country niaja. A????????? we not lucky.Y purnish us with d gift God has giving us. Jona dis oil no b U?????? birth ryt only Oº°??? .

  • Otache Anthony

    Nigerians we’ve to sit nd tink about all dis tins dat’s happn PDP Isn.t gud party to us again.

  • Saleem Mafara

    This Political party PDP are after the destruction of our great nation,let’s defend our selves by showing them that we are wise people,we shall co-operate and go out for peaceful protest on monday.

  • Abdulsalam abubakar m

    Prof.wole SOyinka said”our president has 9 office cars and voted 300milliom 4 bullet/bomb proved cars,d us n d british prime minister has jst 2 each. Also dat american ar 500 million people n dey consumes 39million litres daily n we ar jst 167 million people n we consume 35 million litres of petrol daily.wot ar subsidysing.a senetor in america get 6000 dallars monthly n a senetor’s annual salary z 245million naira 4 each president wot z wrng wit u o?use ur brain. Dis subsidy z rubush n useless.

  • Bukar

    General, just leave them ! Nemesis is a recoil of nature and it can not be guarded even to the most wary soldier. So agama sheri amutu.

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