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Nairaland Forum / Nairaland / General / Politics / Under Jonathan, Nigeria Earned N51trillion From Crude Oil (8625 Views)
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Re: Under Jonathan, Nigeria Earned N51trillion From Crude Oil by SonofDevil: 12:34am On Aug 15, 2016 |
adconline:Illiterate Differentiate between budget and Earnings and go back to the post 5 Likes |
Re: Under Jonathan, Nigeria Earned N51trillion From Crude Oil by vedaxcool(m): 5:05am On Aug 15, 2016 |
StOla: She ensured the enslavement of Nigeria 1 Like |
Re: Under Jonathan, Nigeria Earned N51trillion From Crude Oil by AntiWailer: 5:16am On Aug 15, 2016 |
GEJ is still their Hero. Their son can do no wrong. 1 Like 1 Share |
Re: Under Jonathan, Nigeria Earned N51trillion From Crude Oil by Pidggin(f): 5:28am On Aug 15, 2016 |
dondo83: Did you read the article or you are just forming ignorance? According to Vanguard 12 trillion of the 51trillion was paid to the oil producing regions as derivation funds. The article States that 96 trillion was earned in 58 years and in 5 years out of it 51trillion was earned, how does this sound to you? In only 5years more than half of our entire earnings over 58 years was made? OK, assuming GEJ paid 12 trillion and the remnant is 35 trillion was this included in budget spending or excluded from it? And if it was excluded from it, we await actual evidence to show that it wasn't used to fund the budget or other capital expenditures. We have gone beyond media judgement here, let's wait for actual evidence from parties involved. NNPC will soon make their own statement on this. |
Re: Under Jonathan, Nigeria Earned N51trillion From Crude Oil by adconline(m): 5:50am On Aug 15, 2016 |
westmest:Shut up your mouth. Eveyone is not intellectualy challenged to know that country is following IMF's neo-liberal policies. Christine Largarde, ( if u know who's without Google) was in the country in January and told us to change some things before we could be considered for a loan. Naija is still seeking for IMF backed loans. Naija is going to borrow over 60% of the budget and you are here saying that IMF doesn't control us?? What does control mean to u when u borrow over 60% of ur budget?? 1 Like 1 Share |
Re: Under Jonathan, Nigeria Earned N51trillion From Crude Oil by adconline(m): 6:00am On Aug 15, 2016 |
SonofDevil:What a display of congenital idiocy. Have you factored in money paid into SWF? Have you factored in the 48% of that money that went to the 36 states? Have you factored in the differential between benchmark and crude oil price that went to ECA and foreign reserves? What a sophisticatedly ignorant p_rick!! 2 Likes 1 Share |
Re: Under Jonathan, Nigeria Earned N51trillion From Crude Oil by jerusalem101: 6:04am On Aug 15, 2016 |
ba7man: If you compare 51 trillion to all the one your northern n west brothers squandered what will be the total sum? Mumu people, is that why the Buhari and his cohorts have failed? Senseless people, the main essence of you guys looking for power was for oil money, hahahahahahaha, sorry bro, Karma has no regard. |
Re: Under Jonathan, Nigeria Earned N51trillion From Crude Oil by ba7man(m): 6:15am On Aug 15, 2016 |
jerusalem101:SMH at your mental blindness. .... I feel for you. The answer to your post is right in front of your nose but it's "UNBELIEVABLE" how you're still unable to see it. 1 Like |
Re: Under Jonathan, Nigeria Earned N51trillion From Crude Oil by wristbangle: 6:21am On Aug 15, 2016 |
dondo83: It's not as if they are benefiting from the stolen money but they are used to stagnancy, corruption and evil practices of PDP regime albeit their son being the president. Their so called son did nothing for them yet they heap praises on him as if he is a unicorn. Come to ogun state and see how the people are bashing OBJ because he didn't do much for his citizens. Like u said, who are we to complain? It's their cup of tea, not ours. |
Re: Under Jonathan, Nigeria Earned N51trillion From Crude Oil by ivandragon: 6:25am On Aug 15, 2016 |
while not exonerating GEJ for any lapses or mismanagement, this analysis is based on the prevailing exchange rate so it seems so much now. furthermore, this news is just been sensational, the FG would have actually gotten approx N27t (which is still a lot though), states N14t, LGs N10t. (let's allocate the 20% balance in non-oil revenue to statutory transfers). of the FGs share; N12b to oil producing areas N6t on salaries (at a conservative N150b per month) N3t on fuel subsidy payments N1t on fertilizer subsidy payments N1t on JVC N4t defending the Naira to keep cost of goods low so the question for me is, the monies borrowed by the FG, can the infrastructure on ground justify it? or let's say, can Buhari justify the N6t earned so far? without subsidies or defending the naira? governance is not easy... 4 Likes 1 Share |
Re: Under Jonathan, Nigeria Earned N51trillion From Crude Oil by obaaderemi: 6:31am On Aug 15, 2016 |
OjukwuWarBird:you must be an illiterate.do you expect everything earned to go into the budget?the rest should go into the foreign reserve as saving.even okonjo said gej refused to serve.u be real osu 1 Like |
Re: Under Jonathan, Nigeria Earned N51trillion From Crude Oil by Nobody: 6:37am On Aug 15, 2016 |
ivandragon:..not true. |
Re: Under Jonathan, Nigeria Earned N51trillion From Crude Oil by ba7man(m): 6:45am On Aug 15, 2016 |
ivandragon:From your post, my conclusions are; of the FGs share; (1) N12b to oil producing areas : The Niger Delta leaders ought to be ashamed of themselves if the said amount was pumped into the region and what's on ground is all they have to show for it. Their agitation should be directed at the right people. (2) N6t on salaries (at a conservative N150b per month): We know that Govt salaries have always been riddled with ghost workers, slashed, inflated or withheld salaries so its another good avenue to milk the nation. (3) N3t on fuel subsidy payments: The suspicious way it jumped from N250 billion to N3 trillion shows that GEJ had the intentions of looting the money saved, if the subsidy was removed. Since it's removal failed, they jacked it up so that they could still loot it. (4) N1t on fertilizer subsidy payments: Now just see how that sounds...... N1 trillion on fertilizer subsidy payment. ... I'm so sure this is one of the big scams perpetrated by the GEJ administration. That money is enough to totally revolutionize agriculture with large scale mechanized farming..... but in this case, it's only fertilizer subsidy they're able to achieve. GEJ is a thief. (5) N1t on JVC: Scams...... scams..... scams. (6) N4t defending the Naira to keep cost of goods low: Of course they'll look for a legit name to cover up their looting. This has scam written all over it. GEJ can fool his supporters but not everyone is daft. 1 Like |
Re: Under Jonathan, Nigeria Earned N51trillion From Crude Oil by mightyhazel: 7:00am On Aug 15, 2016 |
Pidggin:think?? U expect zombies to think? Wit wot brains ? Just tell dem gej stole 600trillion and see dem bring out dia diseased phalluses to w.ankk all over the place,...dats y dey r zombies 3 Likes 1 Share |
Re: Under Jonathan, Nigeria Earned N51trillion From Crude Oil by Jaymaxxy(m): 7:14am On Aug 15, 2016 |
Pidggin: Obasanjo and Yar'adua no pay subsidy abi? 1 Like |
Re: Under Jonathan, Nigeria Earned N51trillion From Crude Oil by ivandragon: 7:17am On Aug 15, 2016 |
ba7man: sometimes, we are just too sentimental on issues... on your first point, if you a knowledgeable about revenue allocation in Nigeria, you would know that pre-1970, revenue was allocated on 50% basis, so why wasn't the North developed? or why isn't the SW London? or SE, UK? however, I agree with you that the states have to answer for most of their underdevelopment. point 2, if you say the salaries at N150b pm is a scam, then you would agree that this govt are the bigger thieves by 'claiming' that the wage bill is over N165b pm? so who is fooling whom? point 3, I don't understand you guys. he tried removing subsidy, you complained, he paid subsidy, you still complained. why not let him remove it? while I hold no forth for the high subsidy paid, you seem to not understand the economics behind the increase. things were good, people had money, bought cars, bought bigger generators, had money & reasons to move around more, you had more investors, investments which meant more demand for fuel. point 4, yes it was much, but did you have scarcity of food even with the BH ravaging the North? also, the scam in the fertilizer subsidy was actually reduced contrary to your assertion. & how does fertilizer subsidy translate to mechanization please? point 5, JVC scams, OK. agreed. but do a quick research on oil exploration funding (including the one ongoing in the North presently). if you agree that the one this administration is embarking on is a scam, then I concur with this your position. point 6, why do you think the naira was floated? because it can not be defended anymore with scare dollars. hence you have business people sourcing it at higher rates which translates to higher cost of goods which is something we are presently suffering. or are you buying your goods at a reduced cost presently? your last sentence gave you out as someone who doesn't respond well to points that contradict yours. am guessing you are one of the 'new breed' of Nigerians who drop insults at the drop of a hat (yes, I have read your previous posts & avoid commenting on your treads because you can be unreasonably rude). however, with hardwork, Nigeria will get better. |
Re: Under Jonathan, Nigeria Earned N51trillion From Crude Oil by ivandragon: 7:19am On Aug 15, 2016 |
shinarambo1:what's not true please? |
Re: Under Jonathan, Nigeria Earned N51trillion From Crude Oil by DropShot: 7:20am On Aug 15, 2016 |
ABDamola:For my record. No wonder he's aptly termed the Ineffectual Buffoon. |
Re: Under Jonathan, Nigeria Earned N51trillion From Crude Oil by Jaymaxxy(m): 7:26am On Aug 15, 2016 |
adconline: So income and expenditure are the same abi? N51trillion was earned from crude oil not spent! |
Re: Under Jonathan, Nigeria Earned N51trillion From Crude Oil by Izonpikin: 7:35am On Aug 15, 2016 |
So na why buhari rush too to come get trillions... ... |
Re: Under Jonathan, Nigeria Earned N51trillion From Crude Oil by SonofDevil: 7:40am On Aug 15, 2016 |
adconline:Save ur self all these trash Crude oil benchmark was $85 And budget benchmark mark was at $38 Eca even though the state governors shared ECA accounts because FG was already stealing from the account. What about FG 52% share from the ECA acc. Where did the billions of dollars generated from Non oil Revenue go to, while foreign reserve was depleted from $47b he inheritted to $38b during oil boom?? 1 Like |
Re: Under Jonathan, Nigeria Earned N51trillion From Crude Oil by omenka(m): 7:46am On Aug 15, 2016 |
GudluckIBB:Exactly what I said to myself when I saw the source!! Can't you see the guy above you who wouldn't have spared a second to rubbish it over the source decided to go the other way with a "Jonathan, sugar, ants" rant? Fani Kayode said it that Jonathan is leaving legacy of destruction and disaster and he couldn't have been "righter"!! 2 Likes |
Re: Under Jonathan, Nigeria Earned N51trillion From Crude Oil by omenka(m): 7:48am On Aug 15, 2016 |
Izonpikin:Yes, na why Buhari rush come be that. Oya tell us wetin Jonathan achieve with all wetin him admin alone earn- remember say wetin him alone earn in 5 years pass wetin others earn in over 35 years!! I dey wait. |
Re: Under Jonathan, Nigeria Earned N51trillion From Crude Oil by omenka(m): 7:49am On Aug 15, 2016 |
@ Seun, Lalasticlala, Mynd44: I find it hard, very hard, to understand why this isn't on the fp yet. Or do we have a duplicate of it which already did 2 Likes |
Re: Under Jonathan, Nigeria Earned N51trillion From Crude Oil by oyinkinola: 7:50am On Aug 15, 2016 |
SonofDevil:e.g custom duty! when i said death penalty is the answer to corruption, embezzlement and misappropriation of public fund people against my motion!....this is criminality! 1 Like |
Re: Under Jonathan, Nigeria Earned N51trillion From Crude Oil by Izonpikin: 7:53am On Aug 15, 2016 |
omenka:..so na jonathan be your problem.. There is an explanation to those figures up there..i definitely would wait to hear th truth..ona just dey jump up and down.. But wait oo..na where obj 20billion dollars power scam go See ehn this oil money e go Hard for non Niger deltans to see am enjoy... |
Re: Under Jonathan, Nigeria Earned N51trillion From Crude Oil by cktheluckyman: 7:53am On Aug 15, 2016 |
SonofDevil: so you mean to tell me that deviations in budget was that much even when oil price fell rapidly in the last year of his administration? Only fools will believe this poo 1 Like 1 Share |
Re: Under Jonathan, Nigeria Earned N51trillion From Crude Oil by cktheluckyman: 7:57am On Aug 15, 2016 |
obaaderemi: so you really expect me to believe that we have excess crude earnings of over N32trillion in just 5 years? Are you guys for real? |
Re: Under Jonathan, Nigeria Earned N51trillion From Crude Oil by omenka(m): 7:59am On Aug 15, 2016 |
Izonpikin:Okay, tell us: how Niger Deltans, under their pikin, enjoy the money and how them area be today. |
Re: Under Jonathan, Nigeria Earned N51trillion From Crude Oil by OjukwuWarBird: 8:04am On Aug 15, 2016 |
aresssa: Obaaderemi Omenka Oyinkinola goodluckibb sonofdevil Afonjas, how many barrels of oil was Nigeria selling per day in Jonathan's time that could generate that amount of money. |
Re: Under Jonathan, Nigeria Earned N51trillion From Crude Oil by OjukwuWarBird: 8:08am On Aug 15, 2016 |
cktheluckyman: Izonpikin truckpusher firefire onatisi illuminate93 temitemi1 adconline Don't mind those Afonjas. see the question I asked above |
Re: Under Jonathan, Nigeria Earned N51trillion From Crude Oil by Izonpikin: 8:08am On Aug 15, 2016 |
omenka:....the area yeye ....na black nigerian syndrome...leaders don thief the money..like warri people go talk am "the country don cast".. we need a revolution and restructuring put together... |
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