gbl01:



I'm sorry I'm responsible for your inability to understand my statement. You might need to re-read my post to get the point.


Again, I'll state It clearly. Pull out her budget and all spendings... The loss you can calculate will be under 10billion USD. If NNPC's total theft is that then nobody need say anything. But the press threw that at us and here we are content with it.. Screaming and shouting to have them killed without getting the details. Nobody is calling for a genuine independent audit to get the exact lost figure, we are content with this! You're ready tonjudge NNPC and even judge me. How will u know the exact stolen figure, how will you ever recover it? There's much more where that came from, ask Sanusi.

midolian:
lol..abeg no mind barcanista. He jst had to say anything to defend his paymasters.

lilprinze:
APC has started with their cheap lies and propaganda again. They should show us proof or shut the f**k up.

joseph1832:
Financial autonomy against the government they respond to?.

Tell me, who appoints the GMD of the NNPC? Or even the governor of the central bank?. And you're saying these institutions have financial autonomy to pocket money and not let the very government they respond to know they pocketed money?.

I taya for you bros!. Abeg show me the law or laws that gave the NNPC financial autonomy to pocket money!. I just one see am with my own eye.

joseph1832:
Financial autonomy against the government they respond to?.

Tell me, who appoints the GMD of the NNPC? Or even the governor of the central bank?. And you're saying these institutions have financial autonomy to pocket money and not let the very government they respond to know they pocketed money?.

I taya for you bros!. Abeg show me the law or laws that gave the NNPC financial autonomy to pocket money!. I just one see am with my own eye.

johnny1980:


You still don't get it. I am tired of tutoring you like a 5year old please.

This is after sales profit. Not Net profit.

This is the Gross profit after deductions have been made to the various Joint Ventures and International Oil Companies.

This is money made after cost of production has been factored and effectively paid for. This is the "supposed NNPC profit"

For example...

We drilled x number of barrels of oil. Giving international price. We sold at 200$ per barrel. We made x billion dollars. We shared it 40-60% in favour of NNPC and Oil coys. The 40% share of ours is this....That 40% is what is 8.1 trillion naira of which NNPC remitted only 4.3 and kept the rest. Note this is profit after cost of production and deductions has been made.

Insidous:


Gosh! You are the retarded one here: o

atlwireles:
Moronic ediots, how much was NNPC suppose to return? Generated N8.1T, gave Nigeria N4.3. The remain was the cost of doing business. But most of you ediots will expecting NNPC to return N8.1T to the treasury.

Go and review the public balance sheet of the IOCs, most of you might learn something.

johnny1980:



Please bro. Quit it. You are sounding very dumb. I wouldn't like to call you that.

Let's even assume NNPC has the right to spend what they earn. 3.4 Trillion Naira in 3 years when the Federal Government,
36 states
774 local Governments,
over 150 MDAs and parastatals,
100+ Foreign Mission offices
100s of Federal Universities and Polytechnics,
Nigerian Armed Forces,
Police force with 400,000 active personnel
Tertiary Health Institution have had made do with a total of an average 12 trillion in that 3 year period.


Do you want to tell me the NNPC has a larger workforce than all these entities combined?

We have not even talked of Roads, bridges, water supply, Dams, Power Generation and many other things carried out by these different tiers of government with the said 12 trillion naira in 3 years.


You now tell me a single entity spent on its own 3.4 trillion naira on overhead and you think that's justifiable?
Abeg, no let me stone you.


Maybe NNPC was building another Nigerian Nation spanning thousands of hectares of land on the Atlantic ocean and they just want to surprise us with such gift later.

An average Nigerian bank having 240 billion budget would involve opening up new branches, paying regulatory fees, paying thousands of workers, paying ad hoc security staffs, paying extra stipends to Mobile Police Officers, Cost of Running Diesel Engines, Payment for Network Bandwidth, Payment of License for software use and so many numerous items. The NNPC does not have 1/10th of the job roles a single Nigerian Bank performs and does not even in their wildest dream deserve to spend as much a Trillion Naira on overhead or whatever without prior approval.

barcanista:
This looks like the latest APC propaganda. Did the NNPC act against the law? I don't think so. If Oshiomole and Ço are not happy then they should sponsor bill to the parliament to amend relevant laws.

lilprinze:
APC has started with their cheap lies and propaganda again. They should show us proof or shut the f**k up.

gbl01:


I dont see that happening soon bro, The president has bitten more than he can chew, promised more than he can handle, he sure wouldn't want to even go near the laws now. He still have lots of 'laws' and suggestions to review or discard from the SNC and several existing flawed laws. NASS in-house fighting will not allow them settle for a year or more and when they do, they'll fight over money before they even attempt to begin anything, so they're apparently useless in this government.

PMP is just one man.

The CSO and ADC are already at dagger drawn, Femi and Shehu are already countering themselves, NASS is already confused, Tinubu and Atiku are already mapping out strategies and counter strategies. Again, PMP is just one man!

barcanista:
Bros, NNPC spend from their revenue and refund the rest to the Federation Àccount. The Problem with the laws governing nnpc is that they didn't place any bench-mark nor specify the limit NNPC can go. For instance, ministers are restricted from approving contracts beyond a particular amount. That must go through the FEC. Back to NNPC, the law should have made them to propose and submit their budget to the NASS like other Agencies. But the law granted them so much power. This is not different from CBN. Bros, leave matter jare

joseph1832:
If this law is true as you say, then how come Sanusi got fired and became a turban wearing banker for saying 20 billion dollars got missing from the CBN account or whatever account it is, after all, the CBN and the powers that be then could have quoted this law to defend thenm self and the CBN.

I told you I won't leave you until you allow reason be your guide.

atlwireles:

Really, please explain the process

atlwireles:

Really, please explain the process

barcanista:
There is nothing like "IF the law is true". It is true! Go figure.

Sanusi wasn't FIRED at any time. He was not fired for alleging that $20bil was unaccounted for. He was Suspended from Office based on his indictment by the Financial Reporting Council of Nigeria (FRCN) on allegations that bothers on gross-musconduct and corruption. The record is there!

barcanista:
Sometimes I get disappointed in some Nigerians. I had expected people to ask pertinent questions. They should have demanded on the loopholes and probe more. I can tell you that as long as agencies like NNPC, CBN and co are empowered to budget and spend without appropriation by the NASS, we shall continue to have problems and there is nothing any President can do about it.

Meanwhile the people behind this NNPC are very powerful and are most times the same people that installs government in power and sponsors parliamentarians.

chrismex:
you are the moronic edoit what is the meaning of generated is like you went to night school at otuoke 8.1tr is the income go back and read the page again.

Mooaloji:
OMG!!! Jona and co nearly wreak dis nation, thk God for some wise Nigerians, I dnt mean the tanoids ooo. D wise I mean d progressive minded who stood by their votes to ensured Buhari/Osibanjo victory and I assure u ur hope won't be in vein. Nigeria shall be great again with Buhari/Osibanjo at the helm of affairs. God bless Nigeria. Ameen. Mods plssss do d needful.

joseph1832:
Bro I mind am oh!. I mind am wella. See how all the PDP vaudeville of pundits supporters shy away from this thread, only barcanista show up, even though say na opata him dey yan. But if na thread wey say make PMB declare him assets or appoint ministers, dem go swarm the thread like fly wey surround shit.

Tags: OREMUSSANCTUS, temitemi1, ECOTERRORS, Mogidi, whynotthetruth, truckpusher, SeverusSnape, INTROVERT, and gbo gbo aye dot com of PDP supporters.

gbl01:



Nobody is interested in asking questions, jail them, screw them as if PMB is a judge or jury. Before you know what is happening, The news dies down and that's it, discarded and sealed, then the press comes to recant and refute. The so called 8.1 Tr is still what NNPC said they earn, not independently audited, rather than call for a genuine audit (not the manned PWC audit), people are content. How will the loopholes ever get detected and blocked? Before they said they earned so and so, will they not have cleaned up their mess and properly calculated to be on the safe side? I remember CBN spending 1.2 Billion NGN on feeding Policemen in a year and another 2.4Bllion NGN on police attached to the HO and nothing ever came out of that.

Nothing really comes that fast, PMP is doing a good job, but it has to get deep for it to be successful!

lilprinze:
APC has started with their cheap lies and propaganda again. They should show us proof or shut the f**k up.

joseph1832:
Gross misconduct and corruption still fall under spilling the beans on the missing 20 billion dollars bro. No be today dem born me and no be today I no say Naija man go use yeye allegation sack person when person open him yash for people to see.

If you say the law is true kindly provide it for me to see bro, like you've been providing links and write ups about PMB not appointing ministers and not declaring his assets.

2n2k:


The figures were actually provided by the NNPC itself.

However, the spin given to it by Oshiomole is political. Oil is extracted at a cost. Crude oil is God-given but getting it to the surface is serious economical and technological activities. Since NNPC is joint owners with the operators of the oil wells, it must share the cost with them in form of cash calls. Substantial part of what NNPC was said to have retained must have gone into that.

NNPC is corrupt but not on the level it is being portrayed here.

barcanista:
Í always say that Nigerians may be educated but are still unenlightened. When I saw the news, I took my time to read everything but I couldn't find where NNPC defaulted the law in their spending. Some Agencies are just too powerful thanks to the laws backing them. Anyway, like you said na initial "gra-gra". The matter will be killed after 1 week maximum and everything will return to normal.

The solution is to carry an extensive audit of NNPC and every other agencies, and remove their financial autonomy power by amending relevant sections of our laws. Their budget should be made to pass through the National Assembly. I believe what they generated is even more than the quoted 8trn but what can one do?

emorse:


How much you don collect on top this land and oyel? Even Asari and co wey don touch better money on top oil issue no dey talk like this again. Reason well.

atlwireles:



NNPC is following the law as currently written, your party has major in both houses, you people can amend and do the needful. Sanusi can blow whatever he wants till he turns yellow, but no laws were broken by NNPC. If you know the acts and statutes NNPC violated, please state them.