jpphilips:


What I prefer is immaterial, what you said about regional government is beer parlor clap trap that has no bearing in a decent public domain

olas24u:




Go and read 1960 and 1963 constitution , you pay a % back to the federal and keep the rest .

miteolu:
Group Managing Director of the Nigeria National Petroleum Corporation, (NNPC), Dr. Maikanti Baru, has said oil exploration in the North would continue until the commodity is found. Native Reporters has learnt.

Baru said this would enable the NNPC do massive appraisal of the discovery of gas reserves, made in 1999 in the region.

The NNPC GMD, who was in Kaduna for the 40th edition of the Kaduna International Trade Fair, said the Corporation is working on the Kolmani River 2; with optimism and high expectation. He said President Muhammadu Buhari had personally urged the Corporation to go back to exploration on the Kolmani River 2 Well, and that drilling has been going on smoothly. He said that as at Wednesday morning, the Corporation has dug 10,075 feet deep well with a target to reach 14,270 feet exploration.

 “The main purpose of this well is to start some massive appraisal of the discovery that was made way back in 1999 of some gas reserves in Kolmani River 1 and, so far, the drilling has been going on smoothly to enable exploration.

“We will do the needful. If we need to probe any particular section, we will take our time to do it.

“Our target date is to see that by the end of May, we complete exploration on that particular well and move to Kolmani River III, which site is almost ready for the rigs to move there and from there, we move to other locations,” he said.

Earlier, the GMD said that provides an opportunity for stakeholders and long term exhibitors like NNPC to take stock of their participation through the years, with a view to consolidating on areas of strength, while working on avenues for improvements.

Dr. Baru said the loss of agriculture to crude oil exploitation has retarded local industries that feed on agricultural produce as feedstock, prominent among which were the textiles industry, as well as tanneries in the North.

Meanwhile, Baru has said there were no plans to increase the price of petroleum products for now.
He said even though there is an agency saddled with the responsibility of fixing petrol price, President Muhammadu Buhari has said there would be no increase in the pump price of petroleum products for now.

In the last four decades, the NNPC has invested about $3billion in crude oil exploration activities in northern Nigeria. However, the investment has failed to yield any positive dividend, as the state-owned oil firm is yet to strike hydrocarbons in such commercial quantity for exploitation activities to commence. While some Nigerians see the continuous investments in the search for crude oil deposits in the north as a waste, those in favour of the search remain optimistic.

http://www.nativereporters.com/oil-exploration-in-the-north-would-continue-until-the-product-is-found-nnpc/

richidinho:
why not kukuma force God at gun point to deposit crude oil there?

ewu gambia

jpphilips:


Which section of the 1963 constitution provided that sharing formula since you have read it? I have the E-copy so i can paste it for you free!!

jpphilips:


Which section of the 1963 constitution provided that sharing formula since you have read it? I have the E-copy so i can paste it for you free!!

fk001:


Barren Land like Libya and other Middle East countries?


Where does the likes of Libya, Iraq, UAE got their oil?

olas24u:


Between independence and the emergence of military rule, the revenue allocation formula was a whooping 50 per cent

jpphilips:


im too old to be taking your personal opinion seriously, show me the law the stipulated your 50% in 1963. constitution is not the law but sections there in.

richidinho:
why not kukuma force God at gun point to deposit crude oil there?

ewu gambia

olas24u:

You don't read ,the 1963 constitution was strictly based on derivation.50% of all revenues derived from the resources found in the regional.

olas24u:

Revenue allocation system was strictly based on derivation.

olas24u:

The constitution granted the regions autonomy.

olas24u:

You are part of the Nigerian problem.fiscal federalism is the answer to the Nigerian problems.you know about it but just trying to write .

jpphilips:


You are still talking about a constitution you know nothing about, which country are you from? who knows, you may be typing from Latvia.

uniqueogo:
This people has been blessed with good soil that produces rich foods I don't know what else they are looking for they should be grateful to God and focus more on agriculture

richidinho:
why not kukuma force God at gun point to deposit crude oil there?

ewu gambia

yanabasee:
God give them oil, so that they will now agree to divide Nigeria and take their Herdsmen and Boko Haram to their Arewa republic...

jpphilips:


You cant even prove a simple point you presented in public yet you think you possess the ability to identify who is your problem? Madam, with your level of ignorance, I rather not discuss anything that has "Fiscal" in it, please discuss Mr Ibu, that is your specialty.