Am doing a research,n i'll really be greatful if some1 supplies me with credible answers

30 trillion naira.

simple calculation. let bench mark every variables to the following, having it in mind that they are way more than this.

1 daily production of 1.5 m barrels per day.
2 100 dollars per barrel.
3 300 days of production in a year.
and
3 60% of the total sales.

Now hold my derm pen and give me a good scientific calculator. dont even think we will convert to naira the calculator will not accept the digit.

1.5m x 300 = 450m barels per annual.
450m x 100dollars = 45,000,000,000 (that is 45billion dollars)

Now 60% of that amount is
27,000,000,000 dollars. (27billion dollars)

soo i hope u have a vivid insight of the income conservatively. dont even dare convert that into Naira.

Wait oh!

something dont make sense in your calculation.

What does the 60% represent?

Are saying that Oil sales account for 60% of total export earnings ? If so then you have made a mistake and should have divided by 60% instead of multiplying to find the total export revenue.

Otherwise since the question is how much we earn from crude oil answer would be $45Bn

JVT agreement btw government(NNPC) and multinationals are usually 60:40

Chineke!!!

So you tell me the white man's oil mulitnational companies are taking 40% of our sales?

Wow This useless govt had 16 years of high oil prices and has not attempted to put a stop to this arrangements.

Are we truely idiots to have allowed ourselves to be ruled for so long by fools?

kolaaderin:
simple calculation. let bench mark every variables to the following, having it in mind that they are way more than this.

1 daily production of 1.5 m barrels per day.
2 100 dollars per barrel.
3 300 days of production in a year.
and
3 60% of the total sales.

Now hold my derm pen and give me a good scientific calculator. dont even think we will convert to naira the calculator will not accept the digit.

1.5m x 300 = 450m barels per annual.
450m x 100dollars = 45,000,000,000 (that is 45billion dollars)

Now 60% of that amount is
27,000,000,000 dollars. (27billion dollars)

soo i hope u have a vivid insight of the income conservatively. dont even dare convert that into Naira.

thanks. Ur post is really helpful

kolaaderin:
simple calculation. let bench mark every variables to the following, having it in mind that they are way more than this.

1 daily production of 1.5 m barrels per day.
2 100 dollars per barrel.
3 300 days of production in a year.
and
3 60% of the total sales.

Now hold my derm pen and give me a good scientific calculator. dont even think we will convert to naira the calculator will not accept the digit.

1.5m x 300 = 450m barels per annual.
450m x 100dollars = 45,000,000,000 (that is 45billion dollars)

Now 60% of that amount is
27,000,000,000 dollars. (27billion dollars)

soo i hope u have a vivid insight of the income conservatively. dont even dare convert that into Naira.

Good you pointed this out to millions who think Nigeria has so much money and like making silly comparisons with other countries. Although I still know that their lack of sense of figures will still becloud their judgement.

kolaaderin:
simple calculation. let bench mark every variables to the following, having it in mind that they are way more than this.

1 daily production of 1.5 m barrels per day.
2 100 dollars per barrel.
3 300 days of production in a year.
and
3 60% of the total sales.

Now hold my derm pen and give me a good scientific calculator. dont even think we will convert to naira the calculator will not accept the digit.

1.5m x 300 = 450m barels per annual.
450m x 100dollars = 45,000,000,000 (that is 45billion dollars)

Now 60% of that amount is
27,000,000,000 dollars. (27billion dollars)

soo i hope u have a vivid insight of the income conservatively. dont even dare convert that into Naira.

point of correction, it is 2.4million bpd.

gebest:
point of correction, it is 2.4million bpd.

Not correct.

atlwireles:


Not correct.

very correct sir, at least we are above 2m bpd.

gebest:
very correct sir, at least we are above 2m bpd.

The average production is about 1.8M.

gebest:
point of correction, it is 2.4million bpd.

I benchmarked the number taking into consideration every possible loss due to bunkery.

walahi! I don't know

The bottom line is what do they do with the money ?. Embezzlement and corruption .

atlwireles:


Not correct.

pls try and get 2day's punch, u ll see that we produce 2.2 to 2.3 million bpd.