NavierStokes:
Probes here and there, there is an inherent danger in doing too much or having your hands full at a time, I hope this government doesn't keep the country stagnant these coming 3 years and 4 months.

The real questions should be, are the companies competent? are they credible? Will they evade paying taxes etc. The real corruption to me is awarding an asset like that (huge plus located in deep waters) to an individual company malabu oil, with no proven evidence of experience etc. So they should rather be fixated on who awarded that contract in 1999 rather than who worked out an amicable solution.

Look anyone who is knowledgeable about the oil industry will tell you that this move is a no-brainer.
The asset in question was awarded to an indigeneous firm and since 1996? or so they have been unable to do nothing, or do you all think exploring or drilling in deep waters is a business for a novice indigeneous coy or even our NNPC? Shell already has the expertise and i think provide the technical experts on this project. Everyone knows our government has been battling even to meet cash call obligations these past years. And you find people who are willing to invest and all you can think of is to retrieve the asset. I think there is a clause shielding the companies from litigation on this particular deal.

They better rethink the multiplier effect of this action, both companies (shell and eni) are credible, technically competent and will effectively manage that asset paying their taxes and royalties in the process. Retrieving the asset from them will send a very bad signal out there, and will be a sort of deterrent to other would be foreign investors. Already there are complaints of lack of working systems here (one government cancelling agreements legally entered into by her predecessor), plus over-regulation and interference by governments plus the multiple fronts our governments use to extort money from them, 85% taxes on profits, rotalties, JV or PSC payments, partnership for sustainable developments etc.

Already a lot of companies have designated Nigeria as high risk, and making attempts to limit their exposure so its left for us to continue on the ego or power trip.

PS: conocophillips pulled out of Nigeria a few years ago and till date the brass lng project has still been on a standstill.

All I know is that every government or corporation around the world, sets her priorities in line with current realities at the time, and also in taking decisions people face tradeoffs.

BP the great had her assets seized in Nigeria and became the African Petroleum and today what do we have, a rubbish business that was finally sold out as peanuts.

Let he who can see the big picture, ensure this government is properly guid ed.

Very valid point, but the thing is was this asset issued correctly with equity and probity? A lot government officials have their hands soiled in dirty deals that probing will take the whole tenure of this adminstration. If cancelling and fining these oil gaints and also correcting whatever shady alocation was done on behalf of the government would send the right signals then it should be done and another transparent bidding process be put in place. What makes Nigeria risky? Nigerian government officials wanting kick backs for bids that can be tranparently done, thereby when another adminstration comes in, these guys will have to "settle" again... Its a vicious circle. The Buhari administration should take one probe at a time. Finish with the arms deal, jail or even kill the looters nad you see that all other probes will be seamless. That's my opinion.

From fining MTN to fining shell....we must finance our budget o....kikikikiki....dstv are thieves, ßuhari fine them abeg

ISpiksDaTroof:
You're supposed to be hung from the tallest tree on the highest mountain in the land, rubbed with honey and blood so that bees, vultures, and bears can have a go at your body while you're still alive because you're of no use to the world.

How much of the stolen monies above benefitted you or any of your lineage, imbec*ile?

I will take it for a joke but I wonder if you cant address issues without raining vain words here on Nairaland. Anyway...I can say I didn't partake of the looted funds but the grouse is with way this issue is been handled. We all stole from the treasury and your fight against corruption is directed at just the southerners.

Abeg we all know how contracts are shared in country.

NavierStokes:


Good, then we start retrieve all blocks that were gifted out, from OML 110 given to Mai Deribe(cavendish), to OPL 286 given to Danjuma (sapetro) Akpo, to OML's 112 and 117 given to sani bello (AMNI), to OML 115 given to Mohammed Indimi plus others i can't remember.

av not seen or heard of those people listed being gifted or dashed oil blocks by abacha,if there is any irregularity in their transcaction,they should be retrieved.

Ranks007:


I will take it for a joke but I wonder if you cant address issues without raining vain words here on Nairaland. Anyway...I can say I didn't partake of the looted funds but the grouse is with way this issue is been handled. We all stole from the treasury and your fight against corruption is directed at just the southerners.

Abeg we all know how contracts are shared in country.

Col.Sambo Dasuki is a Southerner?

Jafaru Isa is a Southerner?

What about Sule Lamido and his sons?

Trust me, young man, you're an idiot.

ISpiksDaTroof:

Col.Sambo Dasuki is a Southerner?
Jafaru Isa is a Southerner?
What about Sule Lamido and his sons?
Trust me, young man, you're an idiot.

Thank you