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Nigeria Earns N724.63 Bn In Oil Revenue - Politics (2) - Nairaland

Nairaland Forum / Nairaland / General / Politics / Nigeria Earns N724.63 Bn In Oil Revenue (9018 Views)

Recession: FG’s Non-Oil Revenue Shrinks By N134bn / Nigeria’s Oil Revenue Loss Hits N10.1bn Daily / NNPC Withheld N824.7 Billion Oil Revenue In 6 Months Of Buhari’s Govt (2) (3) (4)

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Re: Nigeria Earns N724.63 Bn In Oil Revenue by mastengsynergy: 7:48am On Jul 04, 2016
I hope this will translate to human and physical development. It wouldn't be spent on traveling round the globe. There is hunger and hardship everywhere. Please let human development starts now!
Re: Nigeria Earns N724.63 Bn In Oil Revenue by Abodunrin07(m): 7:50am On Jul 04, 2016
Not goodluck but good governance
Re: Nigeria Earns N724.63 Bn In Oil Revenue by Amberon: 7:55am On Jul 04, 2016
Shut up!!

Are our leaders to blame for bad federal roads and the poor state of federal institutions littered across the country? What about the lack of electricity and poor health care system.

Nonsense!
jmichlins:
this mentality is why you will keep dreaming of becoming dubia but end up been bangladesh. Charge up to your leaders
Re: Nigeria Earns N724.63 Bn In Oil Revenue by sanandreas(m): 7:56am On Jul 04, 2016
jmichlins:
this mentality is why you will keep dreaming of becoming dubia but end up been bangladesh. Charge up to your leaders

The Dubai you are talking about families own oil well and not oligarchs and political friends. We want resource control
Re: Nigeria Earns N724.63 Bn In Oil Revenue by NOETHNICITY(m): 7:56am On Jul 04, 2016
Amberon:
What does this mean?


What is wrong with a people demanding 100% control of their own resources? What is wrong with True Federalism and why can't we practice it in Nigeria? Why should other states control their own solid minerals and natural resources and Niger Delta can't control our own oil.

What is wrong in saying we cannot continue feeding the whole nation? Why should Hausa/Fulani whose only ambition in life is to over populate Nigeria get anything from our oil wealth when they contribute nothing to our treasury?

Our leaders have been corrupt but so is every leader in Nigeria. Moreover Nigeria has stolen more from us than our leaders can ever steal. If the ND had been given "special status" as is rightly deserved as the bedrock of this nation, more development would've been here.

Stop that layman's theory of "let us hold our leaders accountable". What about all the oil blocks owned by Northerners, are our leaders responsible for that as well?




Our oyel, our oyel! Our oyel! Shoooooooo! U no dey shame sef! Boys re hustling and making bread u dey there dey shout oyel!

1 Like

Re: Nigeria Earns N724.63 Bn In Oil Revenue by Legitbaba(m): 8:03am On Jul 04, 2016
mrvitalis:
13% of that money went to the Niger Delta alone
And they got atleast another 20% of that money.. In terms of allocation, NDDC and ministry of Niger Delta
That's 33% of the total oil revenue since 1999 to 2016 that's will give u over 15 trillion naira for the Niger Delta... Given to the leaders of the region and yet nothing or little to show for it
Instead of the so called intelligent youths who school in eastern Europe to ask there youths for accountability the are looking for who to blame
Lagos State generate more than 800bn a year... Yet how much do they receive?

After I visited Jigawa year back... My eyes opened... If lamido could achieve those things then. .. we southerns have no one to blame but our leaders

U need to read more about this 13% stuff you are talking about, it doesn't sound as sweet as u make it seem...for instance if the budgeted oil benchmark is $40 per barrel, no matter the rise of oil price ,the oil producing states still gets just 13% of what they produce in the budgeted benchmark ($40) the rest goes to d excess crude account...I hope you know all this before making ur assumption...

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Re: Nigeria Earns N724.63 Bn In Oil Revenue by jmichlins(m): 8:05am On Jul 04, 2016
sanandreas:


The Dubai you are talking about families own oil well and not oligarchs and political friends. We want resource control
even when resources are given to locals, your political leaders will connive with your traditional leaders to buy every land in your locality and still tell you to fight the federal government while their kids enjoy abroad. You have brains please use them. If they can not give you good governance with 13% and other insentives, what makes you think they will change when you have 100% control
Re: Nigeria Earns N724.63 Bn In Oil Revenue by Olaposiwaju: 8:18am On Jul 04, 2016
Whoever did the conversions from Naira to dollar no try at all o. When did it become 2100 naira to 1 dollar o cos N724.63 billion @ 280 - 350 naira per dollar is not equal $345 million.

1 Like

Re: Nigeria Earns N724.63 Bn In Oil Revenue by ba7man(m): 8:21am On Jul 04, 2016
sanandreas:


The Dubai you are talking about families own oil well and not oligarchs and political friends. We want resource control
With the extra allocations you guys got, you purchased weapons rather than development.
Re: Nigeria Earns N724.63 Bn In Oil Revenue by mrvitalis(m): 8:32am On Jul 04, 2016
Legitbaba:


U need to read more about this 13% stuff you are talking about, it doesn't sound as sweet as u make it seem...for instance if the budgeted oil benchmark is $40 per barrel, no matter the rise of oil price ,the oil producing states still gets just 13% of what they produce in the budgeted benchmark ($40) the rest goes to d excess crude account...I hope you know all this before making ur assumption...
Yes because the extra gose into the excess crude account
Re: Nigeria Earns N724.63 Bn In Oil Revenue by mrvitalis(m): 8:33am On Jul 04, 2016
enyice:







When did the 13% derivation came into effect? 1999?
Or Niger Delta Militancy started in 1999?


Partisanship most times obstructs objectivity,
Your analysis, though your opinion is outrightly false and should be relegated to the trash can.



Do have a nice day Mr Vitalis.
Lol so when was it implemented??
Re: Nigeria Earns N724.63 Bn In Oil Revenue by mrvitalis(m): 8:36am On Jul 04, 2016
Amberon:
What does this mean?


What is wrong with a people demanding 100% control of their own resources? What is wrong with True Federalism and why can't we practice it in Nigeria? Why should other states control their own solid minerals and natural resources and Niger Delta can't control our own oil.

What is wrong in saying we cannot continue feeding the whole nation? Why should Hausa/Fulani whose only ambition in life is to over populate Nigeria get anything from our oil wealth when they contribute nothing to our treasury?

Our leaders have been corrupt but so is every leader in Nigeria. Moreover Nigeria has stolen more from us than our leaders can ever steal. If the ND had been given "special status" as is rightly deserved as the bedrock of this nation, more development would've been here.

Stop that layman's theory of "let us hold our leaders accountable". What about all the oil blocks owned by Northerners, are our leaders responsible for that as well?

I guess we should also blame our leaders for lack of electricity, delapitated federal roads, bad health care, rotten federal institutions, etc




I have no problem with Niger Deltans demanding for full resource control... I will benefit from that trust me... But to say the federal government is responsible for the underdevelopment in the region is a pure hypocrisy of the regional leaders

So in full resources control how many percent do u think the fedral government will take?? Nothing less than 40% trust me
Re: Nigeria Earns N724.63 Bn In Oil Revenue by agitator: 8:36am On Jul 04, 2016
Legitbaba:
I tot some said oil was not relevant again Hypocrites

hmmmmm, that is why they are jittery whenever the Niger Delta sneezes. But ironically they make jest of the Niger Deltans. undecided undecided undecided
Re: Nigeria Earns N724.63 Bn In Oil Revenue by mrvitalis(m): 8:38am On Jul 04, 2016
sanandreas:
you are not a Niger deltan stop been an interloper. Remember the terrain is different. Jigawa u mentioned is among the parasitic state.
I am not a Niger Deltan.. . I have had that enough
Bayelsa recives far more than Jigawa... Yet no airport and no access roads... The terrian may increase cost by max 100%. .. And bayelsa receive more than 300% what Jigawa did for the last 16 years
So no excuse bro

2 Likes

Re: Nigeria Earns N724.63 Bn In Oil Revenue by kunle75(m): 8:43am On Jul 04, 2016
sanandreas:
you are not a Niger deltan stop been an interloper. Remember the terrain is different. Jigawa u mentioned is among the parasitic state.

You are a small mind...........which terrain are you talking about that such huge amount as allocated in the past could not have catered for?

Stop this nonsense jorr

1 Like

Re: Nigeria Earns N724.63 Bn In Oil Revenue by sanandreas(m): 8:46am On Jul 04, 2016
mrvitalis:

I am not a Niger Deltan.. . I have had that enough
Bayelsa recives far more than Jigawa... Yet no airport and no access roads... The terrian may increase cost by max 100%. .. And bayelsa receive more than 300% what Jigawa did for the last 16 years
So no excuse bro
But they just earned money to run the economy. What does Jigawa contribute to the national treasury? Most of the northern state contribute less than 3billion annually but yet receive 60 billion. It is not by force to like us. Moreover I thought I would see contribution of milk crude from herdsmen but yet zero contribution. Understand the fact that we would progress even without oil. We are blessed in all ramifications.

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Re: Nigeria Earns N724.63 Bn In Oil Revenue by mrvitalis(m): 8:50am On Jul 04, 2016
sanandreas:
But they just earned money to run the economy. What does Jigawa contribute to the national treasury? Most of the northern state contribute less than 3billion annually but yet receive 60 billion. It is not by force to like us. Moreover I thought I would see contribution of milk crude from herdsmen but yet zero contribution. Understand the fact that we would progress even without oil. We are blessed in all ramifications.
This is the foolishness if most of us in the south. .. U really think the North contribute northern right??
Check in ur house and tell me how many things we would have imported if not for the North
If North was a country.. they will tax their yam, beans, tomato, pepper and the rest... That's we import from them... But the forgot that for the benefit of Nigeria

2 Likes

Re: Nigeria Earns N724.63 Bn In Oil Revenue by sanandreas(m): 8:52am On Jul 04, 2016
kunle75:


You are a small mind...........which terrain are you talking about that such huge amount as allocated in the past could not have catered for?

Stop this nonsense jorr
Kunle please stop this trash. Fifty years of milking us. We be cows? Am done can you name Federal government projects in those communities.
Re: Nigeria Earns N724.63 Bn In Oil Revenue by LanceO: 8:56am On Jul 04, 2016
enyice:







When did the 13% derivation came into effect? 1999?
Or Niger Delta Militancy started in 1999?


Partisanship most times obstructs objectivity,
Your analysis, though your opinion is outrightly false and should be relegated to the trash can.



Do have a nice day Mr Vitalis.
Please, don't just fault someone, correct and educate us. If the truth is different.
Re: Nigeria Earns N724.63 Bn In Oil Revenue by Chiznonso: 9:00am On Jul 04, 2016
The fact that they mismanage their own money is none of your business, it's their money, the problem with Nigerians is that they follow the Naira income, My brother follow the Dollar income, Lagos economy is being powered by Niger Delta Oil production, 95% of Nigeria's foreign income is from Oil&gas, the gas powers 80% of Nigerian electricity generation Companies like Shell can invest $7bn on 1 project, tell me which area in Nigerian Economy that a foreign private firm has invested that any, Look @ the ports, is it naira U use to import? Look @ the banks? How will they raise foreign capital when U dont have a foreign exchange earner in your country, Do U think Foreign investors will loan U? If Niger Delta was a country on its own, they would be living like the Kuwaitis, the Emiratis, Saudis, people from other parts will rushing to find work there because it has 37bn barrels of oil and 180trn feet of gas. They don't need anybody to help, they can deal the oil companies direct,

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Re: Nigeria Earns N724.63 Bn In Oil Revenue by tonio2wo: 9:17am On Jul 04, 2016
fulanimafia:
Shame on those short sighted cretins that think they can sabotage Nigeria's economy.

Nigeria must be great again.

When was nigeria great??

2 Likes 1 Share

Re: Nigeria Earns N724.63 Bn In Oil Revenue by fulanimafia: 9:22am On Jul 04, 2016
Obviously before you were born.

tonio2wo:


When was nigeria great??
Re: Nigeria Earns N724.63 Bn In Oil Revenue by tonio2wo: 9:31am On Jul 04, 2016
fulanimafia:
Obviously before you were born.

Really? What were d great things that werr then?
Re: Nigeria Earns N724.63 Bn In Oil Revenue by dokunbam(m): 9:33am On Jul 04, 2016
mrvitalis:
13% of that money went to the Niger Delta alone
And they got atleast another 20% of that money.. In terms of allocation, NDDC and ministry of Niger Delta
That's 33% of the total oil revenue since 1999 to 2016 that's will give u over 15 trillion naira for the Niger Delta... Given to the leaders of the region and yet nothing or little to show for it
Instead of the so called intelligent youths who school in eastern Europe to ask there youths for accountability the are looking for who to blame
Lagos State generate more than 800bn a year... Yet how much do they receive?

After I visited Jigawa year back... My eyes opened... If lamido could achieve those things then. .. we southerns have no one to blame but our leaders
Re: Nigeria Earns N724.63 Bn In Oil Revenue by fulanimafia: 9:37am On Jul 04, 2016
tonio2wo:

Really? What were d great things that werr then?

We were great in agriculture, our exchange rate was impressive, corruption and impunity wasn't a culture, we were a producing country not just a consuming one...the list goes on.
Re: Nigeria Earns N724.63 Bn In Oil Revenue by jpphilips(m): 10:02am On Jul 04, 2016
Amberon:
What does this mean?


What is wrong with a people demanding 100% control of their own resources? What is wrong with True Federalism and why can't we practice it in Nigeria? Why should other states control their own solid minerals and natural resources and Niger Delta can't control our own oil.

What is wrong in saying we cannot continue feeding the whole nation? Why should Hausa/Fulani whose only ambition in life is to over populate Nigeria get anything from our oil wealth when they contribute nothing to our treasury?

Our leaders have been corrupt but so is every leader in Nigeria. Moreover Nigeria has stolen more from us than our leaders can ever steal. If the ND had been given "special status" as is rightly deserved as the bedrock of this nation, more development would've been here.

Stop that layman's theory of "let us hold our leaders accountable". What about all the oil blocks owned by Northerners, are our leaders responsible for that as well?

I guess we should also blame our leaders for lack of electricity, delapitated federal roads, bad health care, rotten federal institutions, etc






How much did you invest in your resources to assume 100% control?

2 Likes

Re: Nigeria Earns N724.63 Bn In Oil Revenue by tonio2wo: 10:05am On Jul 04, 2016
fulanimafia:


We were great in agriculture, our exchange rate was impressive, corruption and impunity wasn't a culture, we were a producing country not just a consuming one...the list goes on.
Wow! That was impressive, I wonder what went wrong. Do u have an idea?
Re: Nigeria Earns N724.63 Bn In Oil Revenue by jpphilips(m): 10:07am On Jul 04, 2016
Chiznonso:
The fact that they mismanage their own money is none of your business, it's their money, the problem with Nigerians is that they follow the Naira income, My brother follow the Dollar income, Lagos economy is being powered by Niger Delta Oil production, 95% of Nigeria's foreign income is from Oil&gas, the gas powers 80% of Nigerian electricity generation Companies like Shell can invest $7bn on 1 project, tell me which area in Nigerian Economy that a foreign private firm has invested that any, Look @ the ports, is it naira U use to import? Look @ the banks? How will they raise foreign capital when U dont have a foreign exchange earner in your country, Do U think Foreign investors will loan U? If Niger Delta was a country on its own, they would be living like the Kuwaitis, the Emiratis, Saudis, people from other parts will rushing to find work there because it has 37bn barrels of oil and 180trn feet of gas. They don't need anybody to help, they can deal the oil companies direct,

You sound like the Britons who never saw the current EU deal before voting for Brexit, I understand most of you are kids but it doesn't make any sense being a national comedian on a Monday morning, believe me.

1 Like

Re: Nigeria Earns N724.63 Bn In Oil Revenue by fulanimafia: 10:15am On Jul 04, 2016
tonio2wo:

Wow! That was impressive, I wonder what went wrong. Do u have an idea?

Being governed by jack booted trained killers instead of civilian administrators, as well as the curse of oil.

1 Like

Re: Nigeria Earns N724.63 Bn In Oil Revenue by stonemasonn: 10:23am On Jul 04, 2016
Chiznonso:
The fact that they mismanage their own money is none of your business, it's their money, the problem with Nigerians is that they follow the Naira income, My brother follow the Dollar income, Lagos economy is being powered by Niger Delta Oil production, 95% of Nigeria's foreign income is from Oil&gas, the gas powers 80% of Nigerian electricity generation Companies like Shell can invest $7bn on 1 project, tell me which area in Nigerian Economy that a foreign private firm has invested that any, Look @ the ports, is it naira U use to import? Look @ the banks? How will they raise foreign capital when U dont have a foreign exchange earner in your country, Do U think Foreign investors will loan U? If Niger Delta was a country on its own, they would be living like the Kuwaitis, the Emiratis, Saudis, people from other parts will rushing to find work there because it has 37bn barrels of oil and 180trn feet of gas. They don't need anybody to help, they can deal the oil companies direct,
Hahahaha....be like the Kuwaitis, the Emiratis, Saudis..you are incredibly funny....is Angola like the Kuwaitis? Stop dreaming, until the ND people change their primitive orientation they all be like South Sudan if they ever succeed. This is actually the blackman's biggest problem all over.

2 Likes

Re: Nigeria Earns N724.63 Bn In Oil Revenue by Chiznonso: 10:42am On Jul 04, 2016
jpphilips:


You sound like the Britons who never saw the current EU deal before voting for Brexit, I understand most of you are kids but it doesn't make any sense being a national comedian on a Monday morning, believe me.

The fact remains is that if Niger Delta leave Nigeria today, Nigeria is finished, Don't U get it 95% of dollar income into our economy is Oil&Gas. What else remains? Nigeria earned $98bn from Oil in 2013, cocoa which is the next was $700m, so tell me are U making any sense, can 180m people depend on $700m, I am giving figures here, don't talk what U dont know

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Re: Nigeria Earns N724.63 Bn In Oil Revenue by Chiznonso: 10:50am On Jul 04, 2016
Ivory coast is the largest cocoa exporter in the world, producing 1.8million tonnes which translates to $6bn annually, ivory coast is 25m in population, now tell me can 180m Nigeria depend on $6bn annually, People dont know the macroeconomic implications of Petrodollars that's they talk. If Buhari isn't careful, this militants might destroy him and his party, it's not something U joke about, it's delicate, Buhari can't go in full force with army because United Nations might sanction banning Nigeria from international business and community which is worse.

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