Olaolufred:
[size=14pt] For most part of the last regime being reported by akpabio, Oil sells above $100 per barrel.
Consistently between $109 and $117 for an appreciable period.

Assume Average price per barrel = $100

Nigeria sold between 2.5 and 2.7 million barrel per day throughout that regime.

So it is 1million barrel times 100dollar times 30 days whichs $3billion a month.

In a year $36billion dollar Under GEJ.
Assume average sale per day = 2 million barrels.

Monetary Value of daily crude sale = 2 mil x $100= $200 mil per day.

Monthly monetary value of crude sale = $200 mil x30= $6 billion dollars.

Monetary value of unremitted crude sale in 7 months as revealed by akpabio = $6 bil x 7 = $42 billion.

Note that I used less than the lower limit of possible values. Which makes it far less than reality.

What is missing is far more than $20billion.

Wait as things unfold. Slow and steady, all Nigerians will begin to fear the consequences of their actions.[/size]

Your calculation is wrong. Yes Nigeria produce about 2million barrel a day. But all d production does not translate to revenue to Federal govt. The oil companies will have to remove thier cost and Profits from it.

Cost of production and profit for the oil companies take about 1million barrel a day.

So what is revenue to the government is about 1million barrel a day.

Gboliwe:


Question: Why hasn't the APC found the missing money?

Answer: Because, just like the missing Chibok girls, its just a propaganda they sold to the gullible among us

Yes, and that propaganda will backfire on them very soon.

ShowYourCertificate:
Ever since Lamido Sanusi raised a false alarm on a missing 20 billion dollars, the APC were in the forefront of those who vocally criticised the government for the missing money. They called for a probe.

Now APC is in government. And it's been 5 months. Where's the missing 20 billion dollars? Who stole it and how? No response.

APC is a scam

cc: Tonyebarcanista, Barcanista, every other nairalander

Have they found Chibok girls which are humanbeings, you can at least see, touch and feel ?

Not to talk of imaginary money which even if it exists, you can launder it on camels or trucks packed with watermelon.

APC is a useless lying party filled with disgruntled elements and fraudsters ably supported by an american govt that wants Nigeria to remain in darkness.

400billionman:


Have they found Chibok girls which are humanbeings, you can at least see, touch and feel ?

Not to talk of imaginary money which even if it exists, you can launder it on camels or trucks packed with watermelon.

APC is a useless lying party filled with disgruntled elements and fraudsters ably supported by an american govt that wants Nigeria to remain in darkness.

Nigerians are now gradually realising that they've been scammed by the APC.

ShowYourCertificate:
If you actually believed the sarcastic statement of Akpabio then you are "foolable" .

[size=20pt] You mean Your minority leader in senate is a jester?
OK. Accepted.[/size]

atbu1983:


Your calculation is wrong. Yes Nigeria produce about 2million barrel a day. But all d production does not translate to revenue to Federal govt. The oil companies will have to remove thier cost and Profits from it.

Cost of production and profit for the oil companies take about 1million barrel a day.

So what is revenue to the government is about 1million barrel a day.

[size=14pt]thank you.
Can 50% of the calculations be used for the almighty expenses and contingencies you posited?[/size]

Olaolufred:


[size=20pt] You mean Your minority leader in senate is a jester?
OK. Accepted.[/size]

Yes, he's making jest of you APC scammers.

The truth of the missing $20bn is hiding in plain sight. If I recall correctly, the figure was derived from the difference between total NNPC oil export proceeds and the amount remitted to the federation account. The $20bn will include NNPC joint venture commitment and its operational costs which it deducted before remitting the balance of the proceeds. So most of it is not actually stolen and I know Sanusi was being disingenuous. He did at one point go for the even more sensational figure of $49bn which he calculated by multiplying crude oil prices by number of barrels produced.

That's not to say that the NNPC was not corrupt. It is a monstrously corrupt organisation, even more so when Madueke was minister. I think the practice of deducting from proceeds before remitting leaves room for shady dealings and ought to stopped. Ultimately, NNPC should be broken and privatised, partially at least. As for the "missing" $20bn, there is no such amount missing for the period in question.

Because no money was missing

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1adewoye:


I am not a politician but know for sure that the entire period PDP had been in power saw Nigeria corruption index scaled the roof and one in a foreign land was invariably ashamed to admit being a Nigerian.

The fight against corruption should not be politicised but out of a genuine desire to set a course for Nigeria where a farmer's child will have equal chance as the minister's or senator's or governor's child in all fields in the country!

...good post...i love ur mindset....but they should go after ex pdp now apc members too that were corrupt....not patting them on their back for a job well done...like appointing amaechi...he can be compensated underground but not this way.

1adewoye:


There is something called 'investigation' and it is not answerable to you or the press! You only get to know of the outcome when your godfathers are arrested and charged. So, just wait and don't jump the gun!

U might just be right bro, but why didn't they carry out that investigations earlier b4 calling those people criminals?

ShowYourCertificate:
Yes, he's making jest of you APC scammers.

[size=18pt] jesting their failure at not understanding the role of opposition.
Jesting how it was hard for him to talk to Almighty diesiani for 3 years. Even on the floor of the house.
He is truly a real jester.[/size]

Olaolufred:


[size=18pt] jesting their failure at not understanding the role of opposition.
Jesting how it was hard for him to talk to Almighty diesiani for 3 years. Even on the floor of the house.
He is truly a real jester.[/size]

He truly is

ShowYourCertificate:
He truly is

Thanks for accepting it.

I have the video. And was so surprised he could mutter those sentences.

Olaolufred:


Thanks for accepting it.

I have the video. And was so surprised he could mutter those sentences.

He's just having fun. It could be fun to be satirical atimes you know

Lalasticlala and Obinoscopy, I dey greet una