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Full Speech: Vice-Presidential Candidate and Pastor, Tunde Bakare, Biblically predict President Jonathan will be kicked out of Office

Fellow citizens of a potentially great country being daily dehumanized by leaders who hate us, I am here this morning in the normal course of duty, the duty of a shepherd, as stipulated in the book of Jeremiah the Prophet:
3. But I will gather the remnant of My flock out of all countries where I have driven them, and bring them back to their folds; and they shall be fruitful and increase.
4. I will set up shepherds over them who will feed them; and they shall fear no more, nor be dismayed, nor shall they be lacking,” says the Lord. (Jeremiah 23:3 & 4, NKJV)
God’s desire for His flock is fruitfulness and increase, but such flock require a different kind of ‘feed’ that will guarantee that they are not afraid, dismayed, or lacking anything. This special feed is “knowledge and understanding” as stated in Jeremiah 3:15
And I will give you shepherds according to My heart, who will feed you with knowledge and understanding.
My objective in this presentation is to confute the confusion created by a government that is hell-bent on the removal of oil subsidy without due regard for the feelings/sufferings of a people being pushed to the wall.
Let me start this presentation from a definitive standpoint and move on to other issues that will bring light and illumination to this manufactured foggy issue. To subsidise is to sell a product below cost of production. Up until this time, neither the federal government nor the Nigerian National Petroleum Corporation (NNPC) has told us the cost of producing a litre of oil in our Warri, Port Harcourt or Kaduna refineries, so the nation is not in a position to take an informed stand on whether or not oil is being subsidized.
However, according to statistics from the Petroleum Products Pricing Regulatory Agency (PPRA) and National Bureau of Statistics, getting petrol to Nigerian ports costs N117.74 per litre. And because of deliberated gross inefficiency at the Nigerian ports, an additional cost of N6.25 per litre is incurred. The petrol is usually stored at the ports. It is not transferred directly from the ships to the trucks and so the ports charge N3.00 for storage and an administrative cost of N15.00. Other costs include a bridging fund of N3.95 and then the dealers add their margin of N1.75 per litre. The transporters add their own margin of N2.70, while filling stations add a margin of N4.60. So the cost of fuel at petrol stations comes to N138.19 per litre, or approximately N140.00 per litre. And because it is sold for N65 per litre, the federal government pays the shortfall of N75.00 or thereabout on every litre of petrol. This extra N75.00 called subsidy, is what the government says will bankrupt the nation if it is not stopped forthwith.
If you have followed me so far, it will be clear to you that the federal government is not subsidising the cost of production of refined oil in our nation. What the government is subsidising is the alternative cost of importation. This shows clearly that our leaders have allowed their laziness to envelope the entire nation so that we have corporately become a lazy nation according to the biblical definition. In Proverbs 12:24, the Bible states that
The lazy man does not roast what he took in hunting, But diligence is man’s precious possession.
Simply put, due to laziness and lack of diligence, our leaders cannot refine enough crude oil for our consumption.
Furthermore, in addition to its exploration activities, NNPC was given powers and operational interests by enabling legislation in refining petrochemicals, transporting products and marketing. Between 1978 and 1989, NNPC constructed refineries in Warri, Kaduna and Port Harcourt and took over the 35,000-barell Shell refinery established in Port Harcourt in 1965 and expanded it to become a two-tier refinery.
Today, the four refineries in Nigeria currently operate at 21% capacity providing 93,450 litres daily, while, on average, Nigerians use 294,000 litres of fuel per day which means that an additional 200,550 litres is imported to meet the domestic need. If you multiply that figure of 200,550 litres by the N75.00 absurdity called subsidy, Nigeria spends N15 million daily to pay for our leadership failure and pathological laziness.
The federal government has been dangling the carrot of what enormous savings they stand to make and then invest in infrastructural development, mass food production, education, health services and minimum wage. These half truths and easy answers are weapons of mass deception as the government cannot save the entirety of the sum being touted for the simple reason that 40% of total fuel consumption is by the government itself.
Fellow citizens of Nigeria, by removing the subsidy – if we ever allow this to take place – Nigerians will be made to pay for the ineptitude of their leaders and the kleptomania of government functionaries. Like other nations, some less endowed, we have the opportunity to set up our own refineries, refine our products, sell and export refined products, and make money. Instead of doing that, both NNPC and the government “explore sleaze, refine roguery and market sharp practices.” They cannot complain that they import at a high price. It is their idiotic choice and Nigerians should not be made scapegoats for their poor choices.
I have other reasons why Nigerians at home and abroad, young and old, must stand against the removal of this absurdity called subsidy, so that the government can be compelled to look inward and stop fleecing the poor people of this nation.
Successive governments have failed to explain why the refineries have remained incapacitated despite humongous investments over the years on Turn Around Maintenance (TAM);
At present, the four (4) refineries in Nigeria operate at 21% of their total capacity and produce 93,450 litres per day. We have not been told the cost per litre as earlier mentioned and the reason is not farfetched – the disparity between local cost of production and cost of importation will glaringly show the cost of our leaders’ negligence and incompetence. To show the lack of foresight and unpardonable haemorrhaging of our national economy, if the refineries are made to run at only 66% capacity, they would produce more than the 294,000 litres needed domestically everyday;
Nigeria under irresponsible leadership prides itself as the sixth (6th) largest producer of oil while wearing the shameful badge of being one of the highest importers of petroleum products, paying as much as N1.3 trillion to sacred fat cats that are untouchable because of compromises at the highest level of government in our nation. Whereas nations more or less endowed as we are, like Libya and Venezuela, refine their own crude oil. Venezuela does not even export a drop of crude. Why does our country continue to export crude oil to countries that then refine and sell it back to us at higher prices?
Why does NNPC leave its own storage facilities unused and proceed to incur additional costs from leasing third party storage facilities? The DPK tanks with a storage capacity of 18,000 cubic metres at the PPMC depots within the Mosimi area have not been used for three years, though they are in good condition. The cost of leasing third party facilities is passed to the government and entered as subsidy in the books. The owners of these third party facilities are not faceless people, they are part of the cartel siphoning the resources of our nation. They cannot do it without the collaboration of those in the corridors of power;
The federal government of Nigeria does not tell the whole truth each time it trumpets and blows its propaganda machinery that the present N65.00 per litre we pay for petrol is the lowest in the world. Put side by side with the cost per litre of petrol in other oil producing nations, ours is one of the highest:
Iran sells for N58.40 per litre
Kuwait: N30.66 per litre
Qatar: N32.12 per litre
Saudi Arabia: N17.52 per litre
United Arab Emirates: N54.02 per litre
Libya: N15.95 per litre
This oil subsidy saga to me is the proverbial handwriting on the wall and this government has taken the toga of Rehoboam, the son of Solomon, to further concretise the suffering of our people in the midst of plenty. Rehoboam thought he could continue the profligacy of his father, but the people that were pushed to the wall kicked back because they could not comprehend why their nation had everything but the citizens paradoxically lacked everything.
A cursory look at this scandalous precedent in the Bible and the attendant consequence that ensued will show to the wise and discerning the end-product of taking the people you are meant to serve for granted.

The abundance the land of Israel experienced in the days of Solomon can be likened to the period of our oil boom when one of our military leaders exclaimed that Nigeria’s problem is not money, but how to spend it.
Let’s check the Scriptures for indicators of King Solomon’s stupendous wealth:
a. 1 Kings 10:14-29 (especially vs. 27)
14 The weight of gold that came to Solomon yearly was six hundred and sixty-six talents of gold,

15 besides that from the travelling merchants, from the income of traders, from all the kings of Arabia, and from the governors of the country.

16 And King Solomon made two hundred large shields of hammered gold; six hundred shekels of gold went into each shield.

17 He also made three hundred shields of hammered gold; three minas of gold went into each shield. The king put them in the House of the Forest of Lebanon.

18 Moreover the king made a great throne of ivory, and overlaid it with pure gold.

19 The throne had six steps, and the top of the throne was round at the back; there were armrests on either side of the place of the seat, and two lions stood beside the armrests.

20 Twelve lions stood there, one on each side of the six steps; nothing like this had been made for any other kingdom.

21 All King Solomon’s drinking vessels were gold, and all the vessels of the House of the Forest of Lebanon were pure gold. Not one was silver, for this was accounted as nothing in the days of Solomon.

22 For the king had merchant ships at sea with the fleet of Hiram. Once every three years the merchant ships came bringing gold, silver, ivory, apes, and monkeys.

23 So King Solomon surpassed all the kings of the earth in riches and wisdom.

24 Now all the earth sought the presence of Solomon to hear his wisdom, which God had put in his heart.

25 Each man brought his present: articles of silver and gold, garments, armor, spices, horses, and mules, at a set rate year by year.

26 And Solomon gathered chariots and horsemen; he had one thousand four hundred chariots and twelve thousand horsemen, whom he stationed in the chariot cities and with the king at Jerusalem.

27 The king made silver as common in Jerusalem as stones, and he made cedar trees as abundant as the sycamores which are in the lowland.

28 Also Solomon had horses imported from Egypt and Keveh; the king’s merchants bought them in Keveh at the current price.

29 Now a chariot that was imported from Egypt cost six hundred shekels of silver, and a horse one hundred and fifty; and thus, through their agents, they exported them to all the kings of the Hittites and the kings of Syria.

B. King Solomon’s daily provision – 1 Kings 4:20-28
20 Judah and Israel were as numerous as the sand by the sea in multitude, eating and drinking and rejoicing.

21 So Solomon reigned over all kingdoms from the River to the land of the Philistines, as far as the border of Egypt. They brought tribute and served Solomon all the days of his life.

22 Now Solomon’s provision for one day was thirty kors of fine flour, sixty kors of meal,

23 ten fatted oxen, twenty oxen from the pastures, and one hundred sheep, besides deer, gazelles, roebucks, and fatted fowl.

24 For he had dominion over all the region on this side of the River from Tiphsah even to Gaza, namely over all the kings on this side of the River; and he had peace on every side all around him.

25 And Judah and Israel dwelt safely, each man under his vine and his fig tree, from Dan as far as Beersheba, all the days of Solomon.

26 Solomon had forty thousand stalls of horses for his chariots, and twelve thousand horsemen.

27 And these governors, each man in his month, provided food for King Solomon and for all who came to King Solomon’s table. There was no lack in their supply.

28 They also brought barley and straw to the proper place, for the horses and steeds, each man according to his charge.

C. The splendour of King Solomon’s cabinet – 2 Chronicles 9:1-8
1 Now when the queen of Sheba heard of the fame of Solomon, she came to Jerusalem to test Solomon with hard questions, having a very great retinue, camels that bore spices, gold in abundance, and precious stones; and when she came to Solomon, she spoke with him about all that was in her heart.

2 So Solomon answered all her questions; there was nothing so difficult for Solomon that he could not explain it to her.

3 And when the queen of Sheba had seen the wisdom of Solomon, the house that he had built,

4 the food on his table, the seating of his servants, the service of his waiters and their apparel, his cupbearers and their apparel, and his entryway by which he went up to the house of the LORD, there was no more spirit in her.

5 Then she said to the king: “It was a true report which I heard in my own land about your words and your wisdom.

6 However I did not believe their words until I came and saw with my own eyes; and indeed the half of the greatness of your wisdom was not told me. You exceed the fame of which I heard.

7 Happy are your men and happy are these your servants, who stand continually before you and hear your wisdom!

8 Blessed be the LORD your God, who delighted in you, setting you on His throne to be king for the LORD your God! Because your God has loved Israel, to establish them forever, therefore He made you king over them, to do justice and righteousness.

Let’s compare the life of the king and his officers in the palace and government with the life of the citizens in the streets of Jerusalem where silver was as common as stones.
1 Kings 12:1-16 (especially vs. 4)
1 And Rehoboam went to Shechem, for all Israel had gone to Shechem to make him king.

2 So it happened, when Jeroboam the son of Nebat heard it (he was still in Egypt, for he had fled from the presence of King Solomon and had been dwelling in Egypt),

3 that they sent and called him. Then Jeroboam and the whole assembly of Israel came and spoke to Rehoboam, saying,

4 “Your father made our yoke heavy; now therefore, lighten the burdensome service of your father, and his heavy yoke which he put on us, and we will serve you.”

5 So he said to them, “Depart for three days, then come back to me.” And the people departed.

6 Then King Rehoboam consulted the elders who stood before his father Solomon while he still lived, and he said, “How do you advise me to answer these people?”

7 And they spoke to him, saying, “If you will be a servant to these people today, and serve them, and answer them, and speak good words to them, then they will be your servants forever.”

8 But he rejected the advice which the elders had given him, and consulted the young men who had grown up with him, who stood before him.

9 And he said to them, “What advice do you give? How should we answer this people who have spoken to me, saying, ‘Lighten the yoke which your father put on us’?”

10 Then the young men who had grown up with him spoke to him, saying, “Thus you should speak to this people who have spoken to you, saying, ‘Your father made our yoke heavy, but you make it lighter on us’—thus you shall say to them: ‘My little finger shall be thicker than my father’s waist!

11 And now, whereas my father put a heavy yoke on you, I will add to your yoke; my father chastised you with whips, but I will chastise you with scourges!’”

12 So Jeroboam and all the people came to Rehoboam the third day, as the king had directed, saying, “Come back to me the third day.”

13 Then the king answered the people roughly, and rejected the advice which the elders had given him;

14 and he spoke to them according to the advice of the young men, saying, “My father made your yoke heavy, but I will add to your yoke; my father chastised you with whips, but I will chastise you with scourges!”

15 So the king did not listen to the people; for the turn of events was from the LORD, that He might fulfill His word, which the LORD had spoken by Ahijah the Shilonite to Jeroboam the son of Nebat.

16 Now when all Israel saw that the king did not listen to them, the people answered the king, saying:
“What share have we in David?
We have no inheritance in the son of Jesse.
To your tents, O Israel!
Now, see to your own house, O David!”
So Israel departed to their tents.

The response of King Rehoboam is not different from that of President Jonathan who recently told us that rather than lightening the burdensome service of our people, he is ready for mass revolt. And, by the grace of God, mass revolt is what he will get. What brought him to power is powerful enough to flush him out of power. The power brokers pushing him to talk tough will back off and sell out when they are face-to-face with the rage of the poor and the resentment of those excluded, deprived, and robbed. Nothing calls for the barking of a leader at the people, except he has, in the words of King Solomon, become a wicked ruler over poor people whose demeanour is likened to a roaring lion and a charging bear (Proverbs 28:15).
In closing, let me give a cautionary word to those who think they can continue afflicting the people at whose expense they maintain past and present profligacy. I am talking about those at the different tiers of government who impose unnecessary tax burdens on poor people. Those who don’t learn from history either repeat the blunders of the past or they become history themselves. King Rehoboam assumed that it was business as usual, so he sent his revenue collector Adoniram to impose punitive taxes on economically deprived people. They responded to him with stones and he died – 1 Kings 12:8 –
Then King Rehoboam sent Adoram, who was in charge of the revenue; but all Israel stoned him with stones, and he died. Therefore King Rehoboam mounted his chariot in haste to flee to Jerusalem.

Let those relying on their ill-equipped, underpaid, and underfed police officers and political thugs remember the words of President J.F. Kennedy:
A society that cannot help the many who are poor, cannot save the few that are rich.

Until this government downsizes, cuts down on its profligacy, and leads by example in modesty and moderation, the poor people of this country will not subsidise the excesses of the oil sector fat cats and the immorality of the self-centred and indulgent lifestyles of those in government. No leader can survive for long in power without peace. And let no one dream of peace without justice and equity.
The words of President Dwight Eisenhower are very apt and I finally close with them:
Though force can protect in emergency, only justice, fairness, consideration and co-operation can finally lead men to the dawn of eternal peace.

May the soul of oil subsidy and those who desire to inflict us with further injury rest in perfect peace. Amen and Amen.

16 Responses to “Full Speech: Vice-Presidential Candidate and Pastor, Tunde Bakare, Biblically predict President Jonathan will be kicked out of Office”

  1. Don Yoweibo says:

    Pastor, I don’t want to say much but our Holy Bible says Christians should always be the head and not tail but you wanted to be a tail to a Muslim because of power. May God help us all to bear good fruit because by their fruits we would know them. Don Yoweibo

  2. chuks says:

    Those who see others downfall should be ready for their fall. If all these criticism is not for pastor to become president after GEJ, I wouldve supported him. People like tunde rubbish Gods name, pretending to love God. What did Christ say about the government of this world-it belong to satan. Stop quoting Old testament to preach to children of God, you did not see anything wrong with the past leaders, boko haram, all the rots in ur own party, so how come u see others. Be true to urself, ure only fighting for yourself pastor, so when you become VP who will lead ur congregation????

  3. Anonymous says:

    Thanks for the info, Pastor. To Pator’s detractors, I say: when you hare the truth accept it even if it came from the devil himself.

    • philip says:

      @ Max! I will advise you by the mercy of God to carry out enough investigation before lambasting anybody on the surface of the earth in the open. As for Pastor B, the wife and the his children were in the fore front of all the protests he has ever been involved in.I know them and I saw the during the protest. Please, be careful most especially on issues you do not have strong evidence or proof to substantiate.

  4. Max says:

    Pastor does not believe that those that do not attend latter rain are christians.
    Since pastor is so bold how come he hasn’t said anything concerning the post election violence or the christmas day bombings and recent security crisis up till now? Is he scared? Cos battling constituted authority is much safer than condemning violence? I have been following up cos i was a fan, but im fed up right now. If he claims to love Nigeria so much how come his wife and children are in Atlanta? Some where safe? And he is inciting other people’s children to insult government? I bet if this was a very bad government people will not have the guts to openly protest, i belive pastor should give it a rest, its ok now.

  5. directory uk says:

    My brother suggested I might like this website. He used to be entirely right. This post truly made my day. You can not consider simply how a lot time I had spent for this info! Thanks!

  6. Akin says:

    I only look forward to a day when every man will fight for his/her freedom without been bias…..

  7. Taiwo says:

    Great info. E o roju aiye?

  8. Willie says:

    Found your blog post through AOL. You know I will be signing up to your rss.

  9. brenda says:

    Deciever of d brethren. Pastor who r u decievin.

  10. Anonymous says:

    Thanks for wonderful write Up

  11. Pace setters says:

    It is high time for Nigerians to Stand up and fight for your right.
    Let us turn against those that does not have the love of the masses but are there to decieve d whole world.
    Let us join hands together to drive away these corrupt leaders called cabal.

  12. Good info. Lucky me I reach on your website by accident, I bookmarked it.

  13. If president said the law give him right to remove subsidy what is the function of our legislatures they also has the right to sack him when he disobey them.

  14. On December 10, 2011, if you stopped at the Mobil filling station on Old Aba Road in Port Harcourt , you would be able to buy a litre of petrol for 65 naira or $1.66 per gallon at an exchange rate of $1/N157 and 4 litres per gallon. This is the official price. The government claims that this price would have been subsidized at N73/litre and that the true price of a litre of petrol in Port Harcourt is N138/litre or $3.52 per gallon.

    They are therefore determined to remove their subsidy and sell the gallon at $3.52. But, On December 10, 2011, if you stopped at the Mobil Gas station on E83rd St and Flatlands Avenue in Brooklyn, New York, USA, you would be a able to buy a gallon of petrol for $3.52/gallon. Both gallons of petrol would have been refined from Nigerian crude oil. The only difference would be that the gallon in New York was refined in a US North East refinery from Nigerian crude exported from the Qua Iboe Crude Terminal in Nigeria while the Port Harcourt gallon was either refined in Port Harcourt or imported. The idea that a gallon of petrol from Nigerian crude oil cost the same in New York as in Port Harcourt runs against basic economic logic. Hence, Nigerians suspect that there is something irrational and fishy about such pricing. What they would like to know is the exact cost of 1 litre of petrol in Nigeria .

    We will answer this question in the simplest economic terms despite the attempts of the Nigerian government to muddle up the issue. What is the true cost of a litre of petrol in Nigeria ? The Nigerian government has earmarked 445000 barrel per day throughput for meeting domestic refinery products demands. These volumes are not for export. They are public goods reserved for internal consumption. We will limit our analysis to this volume of crude oil. At the refinery gate in Port Harcourt, the cost of a barrel of Qua Iboe crude oil is made up of the finding /development cost ($3.5/bbl) and a production/storage /transportation cost of $1.50 per barrel.

    Thus, at $5 per barrel, we can get Nigerian Qua Iboe crude to the refining gates at Port Harcourt and Warri. One barrel is 42 gallons or 168 litres. The price of 1 barrel of petrol at the Depot gate is the sum of the cost of crude oil, the refining cost and the pipeline transportation cost. Refining costs are at $12.6 per barrel and pipeline distribution cost are $1.50 per barrel. The Distribution Margins (Retailers, Transporters, Dealers, Bridging Funds, Administrative charges etc) are N15.49/litre or $16.58 per barrel. The true cost of 1 litre of petrol at the Mobil filling station in Port Harcourt or anywhere else in Nigeria is therefore ($5 +$12.6+$1.5+$16.6) or $35.7 per barrel . This is equal to N33.36 per litre compared to the official price of N65 per litre. Prof. Tam David West is right. There is no petrol subsidy in Nigeria . Rather the current official prices are too high. Let us continue with some basic energy economics.

    The government claims we are currently operating our refineries at 38.2% efficiency. When we refine a barrel of crude oil, we get more than just petrol. If we refine 1 barrel (42 gallons) of crude oil, we will get 45 gallons of petroleum products. The 45 gallons of petroleum products consist of 4 gallons of LPG, 19.5 gallons of Gasoline, 10 gallons of Diesel, 4 gallons of Jet Fuel/Kerosene, 2.5 gallons of Fuel Oil and 5 gallons of Bottoms. Thus, at 38.2% of refining capacity, we have about 170000 bbls of throughput refined for about 13.26 million litres of petrol, 6.8 million litres of diesel and 2.72 million litres of kerosene/jet fuel.

    This is not enough to meet internal national demand. So, we send the remaining of our non-export crude oil volume (275000 barrels per day) to be refined abroad and import the petroleum product back into the country. We will just pay for shipping and refining. The Nigerian government exchanges the 275000 barrels per day with commodity traders (90000 barrels per day to Duke Oil, 60000 barrels per day to Trafigura (Puma Energy), 60000 barrels per day to Societe Ivoirienne de Raffinage (SIR) in Abidjan, Ivory Coast and 65000 barrels per days to unknown sources) in a swap deal. The landing cost of a litre of petrol is N123.32 and the distribution margins are N15.49 according to the government. The cost of a litre is therefore (N123.32+N15.49) or N138.81 . This is equivalent to $3.54 per gallon or $148.54 per barrel. In technical terms, one barrel of Nigerian crude oil has a volume yield of 6.6% of AGO, 20.7% of Gasoline, 9.5% of Kerosene/Jet fuel, 30.6% of Diesel, 32.6% of Fuel oil / Bottoms when it is refined.

    Using a netback calculation method, we can easily calculate the true cost of a litre of imported petrol from swapped oil. The gross product revenue of a refined barrel of crude oil is the sum of the volume of each refined product multiplied by its price. Domestic prices are $174.48/barrel for AGO, $69.55/barrel for Gasoline (PMS or petrol), $172.22/barrel for Diesel Oil, $53.5/barrel for Kerosene and $129.68/barrel for Fuel Oil. Let us substitute the government imported PMS price of $148.54 per barrel for the domestic price of petrol/gasoline. Our gross product revenue per swapped barrel would be (174.48*0.066 +148.54*0.207+172.22*0.306+ 53.5*0.095+129.68*0.326) or $142.32 per barrel. We have to remove the international cost of a barrel of Nigerian crude oil ($107 per barrel) from this to get the net cost of imported swapped petroleum products to Nigerian consumers. The net cost of swapped petroleum products would therefore be $142.32 -$107 or $35.32 per barrel of swapped crude oil. This comes out to be a net of $36.86 per barrel of petrol or N34.45 per litre.

    This is the true cost of a litre of imported swapped petrol and not the landing cost of N138 per litre claimed by the government. The pro-subsidy Nigerian government pretends the price of swapped crude oil is $0 per barrel (N0 per litre) while the resulting petroleum products is $148.54 per barrel (N138 per litre). The government therefore argues that the “subsidy” is N138.81-N65 or N73.81 per litre. But, if landing cost of the petroleum products is at international price ($148.54 per barrel), then the take-off price of the swapped crude oil should be at international price ($107 per barrel). This is basic economic logic outside the ideological prisms of the World Bank. The traders/petroleum products importers and the Nigerian government are charging Nigerians for the crude oil while they are getting it free.

    So let us conclude this basic economic exercise. If the true price of 38.2% of our petrol supply from our local refinery is N33.36/litre and the remaining 61.8% has a true price of N34.45 per litre, then the average true price is (0.382*33.36+0.618*34.45) or N34.03 per litre. The official price is N65 per litre and the true price with government figures is about N34 per litre (even with our moribund refineries).

    There is therefore no petrol subsidy. Rather, there is a high sales tax of 91.2% at current prices of N65 per litre. The labor leaders meeting the President should go with their economists. They should send economists and political scientists as representatives to the Senate Committee investigating the petroleum subsidy issue. There are many expert economists and political scientists in ASUU who will gladly represent the view of the majority. The labor leaders should not let anyone get away with the economic fallacy that the swapped oil is free while its refined products must be sold at international prices in the Nigerian domestic market.

    The government should explain at what price the swapped crude oil was sold and where the money accruing from these sales have been kept. We have done this simple economic analysis of the Nigerian petroleum products market to show that there is no petrol subsidy what so ever. In the end, this debate on petrol subsidy and the attempt of the government to transfer wealth from the Nigerian masses to a petrol cabal will be decided in the streets. Nigerian workers, farmers, students, market women, youths, unemployed, NGO and civil society as a whole should prepare for a long harmattan season of protracted struggle. They should not just embark on 3 days strike/protests after which the government reduces the hiked petroleum prices by a few Nairas. They must embark upon in a sustainable struggle that will lead to fundamental changes. Let us remove our entire political subsidy from the government and end this petroleum products subsidy debate once and for all. It is time to bring the Arab Spring south.

    Izielen Agbon Izielen Agbon writes from Dallas, Texas.


    By research, a barrel of oil cost $25.2 to refine.

    It cost between $0.30 to $0.60 to refine a gallon of oil.
    Since we have 42 gallons in a barrel therefore: Using the maximum cost per gallon which is $0.60
    It will cost $0.60 X 42 gallon = $25.2 dollars
    That is $25.2 dollars to refine 1 barrel of oil.
    Since we have 159 litters of product in 1 barrel of crude oil
    Therefore to refine a litter of petroleum product it will cost:
    $25.2 divided by 159 litters = $0.16 aprox
    Converting to naira @155 Naira per dollar = N24.80k

    Using the minimum

    Since we have 42 gallons in a barrel therefore: Using the minimum cost per gallon which is $0.60
    It will cost $0.30 X 42 gallon = $12.6 dollars
    That is $12.6 dollars to refine 1 barrel of oil.
    Therefore to refine 1 litter of petroleum product it will cost:
    $12.6 divided by 159 litters = $0.08 aprox
    Converting to naira @155 Naira per dollar = N12.40k

    Question: how much does it cost to refine a gallon of gasoline

    Best Answer – Chosen by Voters
    That isn’t a simple question. different quality crudes give different costs. and the eff of the refinery certainly has an impact.- but for gasoline it costs typically about 50 cents a gallon to refine it to the current low sulfur requirements.

    If it cost 50 cent to refine 1 gallon of gasoline/ petrol
    Since 1 dollar is exchange at aproxi N160
    Then to refine 50 cent = N80

    1 gallon is = to 3.8 liter or aprox 4 litter
    Therefore if 1 gallon is refine for N80
    1 litter will be refined for at least N20

    So my brother where did your pple see the subsides?
    How on earth can you add all form of (additive) transportation, tax, logistics and you will arrive at the N149 landing cost claim by your PPPRA.

    Fellow Nigerian this is the hidden secret.


    See below for the cheapest and dearest countries in the world for petrol.

    How many pence is in 1 British pound

    To convert British pence sterling to Naira


    Unleaded: Cost per liter,
    ___________in POUND STERLING ___________________in NAIRA

    Venezuela………….1.6p ________________________________N4.01k

    Iran……………………5p _________________________________N12.53k

    Saudi Arabia……….6 p _________________________________N15.06k

    Turkmenistan………8p __________________________________N20.04k

    Kuwait/Qatar……….11p _________________________________N27.56k

    Petrol now N65 a litre
    By Yakubu Lawal
    “Under former President Olusegun Obasanjo administration, the fuel price was hiked from N11 to N20 per litre in June, 1999.
    Despite nationwide protest, the price went up to N22 per litre, June 13, 2000.
    On June 1, 2002 it went up to N26 per litre, between June 2003 and October 2003, to N34 per litre and later N42 per litre.
    In 2003, Obasanjo, for the first time introduced petroleum tax in place of another veiled increase of petrol pump price, which was successfully resisted by Nigeria Labour Congress (NLC) and the civil societies.
    On May 29, 2004, the price went up to N50 per litre and N65 on August 25, 2004, shooting up again to N75 on May 27, 2007 just 48 hours to the end of Obasanjo’s tenure. This inheritance by the President Musa Yar’Adua administration did not survive as workers via the labour organisations protested with a shut down. And the new government succumbed with a cut to N70 per litre, which subsisted till last night.
    Earlier, in 1973 the military government of Gen. Yakubu Gowon increased the price of petrol to 9 kobo per litre while Gen. Obasanjo’s regime (1976 – 1979) raised it to 15 kobo per litre in 1979.
    In 1986, Gen. Ibrahim Babangida’s administration took the price to 39 kobo per litre and raised it again to 51 kobo per litre in 1999; 70 kobo a litre in 1991 and N3.25 kobo in 1993
    In 1994 the late Gen Sani Abacha took it up to N11 per litre and set up the Petroleum Task (Special) Force (PTF), to use the proceeds for development of infrastructure and social amenities.
    In 1997 Abacha took it up to N20 per litre.
    Since then, the price of fuel has continued to rise. The only reason often claimed for the hike by all governments was that the government was subsidising the price of petrol by various figures.”
    “Movement For Accountable and Good Governance” ON FACE BOOK


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