jp philips: same sanusi claimed that 2013 budget was implemented 75% by Nov, is he claiming that he achieved that with only 24% revenue from the oil receipts?
Now, Mr Sanusi, while you were in Sudan, Nigeria remit oil receipts through the following channels
NNPC
FIRS
NPDC and
DPR
all the above accounts are domiciled in the CBN with a few offshore, if you were any smart, you should ask where these agencies and subsidiaries get their funds from.
you are truly a person to think NNPC remits 100% oil receipts to the FG, shame on you!!

redcliff:

[size=14pt]IT couldnt have been said better. NNPC does not have an R& department, even if they do, i doubt they work there at all.[/size]

fyneguy:

What do you know about budget financing? why is the reserve depleted everyday to fund the budget?

emcaluv: [i]OLODO. So NNPC lifted Crude worth $65billion (which is even probably d SELLING PRICE), remitted only $15bn and 'diverted' $50bn, yet d Federal, States and LGAs have been funding their budgets -with their their SALIVAR, shey?? Like I said una no sabi lie at all..... By d way, at an Average of 2million bpd and at a cost of an Average of $105, Nigerian Oil wud SELL for about $77billion a year. This is d Selling Price. If d Cost of producing and shipping d Oil by d Oil companies is subtracted, d resulting Difference is d SHAREABLE PROFIT. This Profit is then shared bw d Govt and d[b][/b][i] Oil Companies at an Average ratio of 60:40, and d Govt's share goes to d Federation Account to be shared bw d Tiers of Govt. The Amount of money due to d Federation Account every year from Crude Oil Sales wud be bw $30-$40bn (or less) every year. You mean d NNPC 'diverted' (whateva that means) $50bn of this money in 1.5yrs and Nigeria is still existing and budgets of All d 812 Govts in Nigeria(where Oil money constitute bw 60-70% of d budgetary Revenue) are still be ran?? I mean, I wud reali love for you to make all of these sensible, for if na small..[/i].[/i]

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I wonder where your sense of reasoning has gone to. If you cannot believe the governor of Central bank then there is a problem. You can swallow every rubbish Abati and Doyin could spill out but when intellectuals reveal things, you don't believe. The only time i will exonerate you of this folly is if Sanusi denies this publication.

For your information, Nigeria sells an average of 2.5 million barrels of crude oil daily. This translates to 75 million barrel in a month and 900 million barrels yearly. The letter only revealed a fraction which is just 1 million barrels daily (594,024,107 in 19 months from Jan'12 to Jul'13). It has also been revealed that NNPC collects 500,000 barrels of Crude daily for refining (Swiss fraud connection). Government is sponsoring this oil theft to steal Nigeria dry. The information from Sanusi was based on 1 million barrels of crude daily as against 2.5 million barrels which is the official OPEC allocation for the country. I would have ignored your post but we need to get the records straight.

donguutti: And when people say nigerians are not intelligent we take offence.according to SLS ,total revenue frm oil is $65+ billion.

The fg and oil majors have 60:40 share so the total amount going to the federation account is $39 billion.of which $15 billion was recievd and another $28 billion was remitted as petroleum profit tax.the nnpc say productn figures are 5% higher than that given by the CBN.(To make up for the discrepancy).Oil sales data can be found on CBN website.nigeria has never producd 2.5mbpd in its entire history.

Does sanusi want shell,mobil,chevron etc to remit their share to the CBN.Is that logical.Free stuff is never valued especially free education.

Sibrah: Has anyone taugh of the fact that kerosine is scarce when infact kerosine, petrol and diesel are all extracted from crude oil simultaneously, and whenever you get to see one, it sells for almost 3 times the normal price.

jp philips: same sanusi claimed that 2013 budget was implemented 75% by Nov, is he claiming that he achieved that with only 24% revenue from the oil receipts?
Now, Mr Sanusi, while you were in Sudan, Nigeria remit oil receipts through the following channels
NNPC
FIRS
NPDC and
DPR
all the above accounts are domiciled in the CBN with a few offshore, if you were any smart, you should ask where these agencies and subsidiaries get their funds from.
you are truly a person to think NNPC remits 100% oil receipts to the FG, shame on you!!