hollowpot15684:

oponu leleyi ooo, who is fighting for likeness here.. i am rejecting your stupidity you are talking about likes... you better go find better things doing, i wonder how likes here will earn you more money or glory in real life.. look at how he is talking about likes as if it is your Monthly salary. e go tey before you understand.

E pain am

anyaekekehinde:


There was no such thing as Shell/ D'arcy by 1903
Shell/D'arcy was a JV formed in the 1930s..

The development of the Nigerian oil industry trace its origins back to two companies, Nigeria Properties (Limited) and the Nigeria and West African Development Syndicate (Limited) who started exploring for bitumen, coal and petroleum in 1903


A British Businessman named John Simon Bergheim founded the Nigeria Bitumen Corporation in November 1905 with the aim to acquire and work the aforementioned exploration concessions of Nigeria Properties, and the Nigeria and West African Development Syndicate.


Under the guidance of their manager Mr. Frank Drader, a practical oil operator, the Nigeria Bitumen's operations quickly shifted its focus from bitumen to oil.

By the end of 1913 Nigeria Bitumen had ceased all operations in Nigeria and the company was liquidated in 1914.

Nigeria Bitumen was not the only company to explore for oil in Nigeria before 1914, although they were arguably more successful than their competitors. Colonial Office documentation lists that enquiries about oil exploration licences were received from the British Colonial Petroleum Corporation (Limited), a Captain Barnett and Rosewarne (Limited). Of the three parties, only the British Colonial Petroleum Corporation proceeded in searching for oil in the colony. The company was incorporated in London in December 1908 with the "purpose (amongst other objects) of acquiring and working concessions and licences of and over mines, mineral properties and mining oil and other rights in any British Colony."22 British Colonial Petroleum emerged out of the Nigerian Investment Company, who was granted an oil exploration licence over an area of 225 square miles in Southern Nigeria in January 1906.
Caveat: let me inform your dull but arrogant mind not to confuse British Colonial Petroleum Corporation Limited with today's British Petroleum (BP).

the British Colonial Petroleum explored unsuccessfully for oil for four years. In their last operating year in Nigeria, 1913, the company spend almost £20,000 before ceasing operations in the colony.


The D'Arcy Exploration Corporation and the Whitehall Petroleum Corporation briefly revived commercial interest in the colony's oil possibilities between 1918 and 1923. The D'Arcy Exploration Corporation, a wholly owned subsidiary of the Anglo-Persian Oil Company (renamed Anglo-Persian Oil Company in 1935 and again in 1954 to the British Petroleum Company), became interested in Nigeria in 1918 as part of a deliberate attempt by the company to extend their interests beyond Persia.
D'Arcy's exploration licence was granted after protracted negotiations on 28 February 1921 and covered an area "extending from the Boundary with Dahomey on the West to the Niger River from the Akassa Mouth on the East, with a depth from the sea of 50 miles"


After 1923 it was once again only the Geological Survey who was interested in searching for oil in Nigeria, which attempts were rewarded in 1928 when they discovered oil traces near Afikpo.


Yet, the D'Arcy Exploration Company revived their interest in Nigeria in the 1930s, especially after receiving a promising report from one of their geologists, Mr B.K.N. Wyllie in 1933.
This time round D'Arcy did not go into Nigeria alone, but did so in partnership with Royal Dutch/Shell (hereafter Shell).

On 10 August 1936 a joint application was submitted to the Colonial Office in the names of the Anglo-Iranian Oil Company and the Anglo-Saxon Petroleum Company (a wholly owned subsidiary of Royal Dutch/Shell group of companies) for exclusive permission to explore for oil over the whole of Nigeria, Kenya and Tanganyika.


As for Shell/D'Arcy, their successes in Nigeria ensured that the company quickly recovered their £40 million investment in exploring for oil in the colony between 1936 and 1958.

summary:
There are 3 major phases in the Nigerian Oil exploration history
phase 1: 1903 - 1914
phase 2: 1918 - 1923
phase 3: 1936 - 1958

Shell/ D'Arcy JV was only involved in the 3rd phase

Now between 1903 and 1969-73, there was no such thing as JV between the Government and MNOC, It was just pure Concession and the Oil firms wholly funded their activities.


First Participation /Agreement was around 1971 - 1973; Federal Government acquired 35% shares in the Oil Companies
Ashland started PSC with then NNOC (NNPC) also in 1973

Eruditor, let me end by telling you to read more, i pray we meet either at the AC or Interview, you are just an arrogant f.ool, if you had taken time to read a little bit, you would have spared yourself the embarrassment of telling us about shell/D'Arcy in 1903. An average mind that needs to learn, be humble and learn, that was how you started lying as regards ameachi the other time. smh for you
I have told you before that you are suffering from complex, you will outgrow it..lolz

Unintelligent people always feel they have an opinion. The jury was out on your idiocy but you have just charged yourself guilty. I didn't know the whitewashing I gave you on the other thread hurt you so badly that you degenerated to stalking me. I know the kick you receive when you get a response from me- it makes you feel you are not as average as you already know that you are.

For the sake of others who may read the exchange let me make a few emendations to my post. Shell D'arcy was not setup in 1903 as my post wrongly insinuated. The import of my words to the other poster was to aver that since 1903-1956 OELs always existed and of course preexisted OPLs. As you glibly trudged on to try to defame me, you exposed yourself as more of an impulsive hack, that rushes to give 3 when question A + C is asked (Ref. Your 1921 exploration licence Shell D'arcy had received).That is on the one hand.

On the other hand, I mentioned OELs to the other guy to show him why many commentaries like the one you cited think that concessionaire agreements were the sole contractual obligations that existed. The same error you fell for because you are clearly a salivating oaf. Nigeria could not participate in the concessions for 2 reasons.

1. Nigeria was still under British Colonial rule.
2. It made no sense to contribute financially until commercial quantities of crude was discovered which then happened in 1956 while production began in 1958. At this stage British govt were the JV partners using Shell as proxy while the burgeoning Nigerian state received taxes and Royalties.

Flip down to 1971 because the country was stagnated by the civil war from 1967-1970. That is when JVs were introduced till Shell-BP became fully nationalized.

The question I asked the same cretin I am redirecting to you a denser cretin with a brain the size of a Mollusc- Where did the FG get the capital to make the cash call payments that substantiated the JV agreements? I want to put an end to the widely circulated fallacy that Nigeria began on ND's oil proceeds.

I am certain you do not have a credible response as you proved it on the other thread concerning Amaechi. With your phantasmagorical "offer letters from teaching jobs in Rivers" yet you could not give the actual emoluments to substantiate your prevarications, Your arithmetic goofs, and that wanton penchant for chasing shadows and ignoring the substance of a gist. I doubt we could ever meet in any AC or Interviews as we are not intellectually compatible.

. . .And yes, I do have a complex: I do not suffer f.ools gladly if I even suffer them at all. Now you can understand why you throw fits at my posts. You are a f.ool. Period.

NB: I made this post watching the Blitz channel on DSTV. I know some baloney regurgitators whose stock-in-trade is to copy and paste.

Hold ke? Dey will just publish it on papers, just like GEJ published his 1.6million yearly jobs...

If u worry dem too much, they will formulate ghost names, put dem on payroll and chop the money sef... So its even beta u dont hold dem o!

Eruditor:


Unintelligent people always feel they have an opinion. The jury was out on your idiocy but you have just charged yourself guilty. I didn't know the whitewashing I gave you on the other thread hurt you so badly that you degenerated to stalking me. I know the kick you receive when you get a response from me- it makes you feel you are not as average as you already know that you are.

For the sake of others who may read the exchange let me make a few emendations to my post. Shell D'arcy was not setup in 1903 as my post wrongly insinuated. The import of my words to the other poster was to aver that since 1903-1956 OELs always existed and of course preexisted OPLs. As you glibly trudged on to try to defame me, you exposed yourself as more of an impulsive hack, that rushes to give 3 when question A + C is asked (Ref. Your 1921 exploration licence Shell D'arcy had received).That is on the one hand.

On the other hand, I mentioned OELs to the other guy to show him why many commentaries like the one you cited think that concessionaire agreements were the sole contractual obligations that existed. The same error you fell for because you are clearly a salivating oaf. Nigeria could not participate in the concessions for 2 reasons.

1. Nigeria was still under British Colonial rule.
2. It made no sense to contribute financially until commercial quantities of crude was discovered which then happened in 1956 while production began in 1958. At this stage British govt were the JV partners using Shell as proxy while the burgeoning Nigerian state received taxes and Royalties.

Flip down to 1971 because the country was stagnated by the civil war from 1967-1970. That is when JVs were introduced till Shell-BP became fully nationalized.

The question I asked the same cretin I am redirecting to you a denser cretin with a brain the size of a Mollusc- Where did the FG get the capital to make the cash call payments that substantiated the JV agreements? I want to put an end to the widely circulated fallacy that Nigeria began on ND's oil proceeds.

I am certain you do not have a credible response as you proved it on the other thread concerning Amaechi. With your phantasmagorical "offer letters from teaching jobs in Rivers" yet you could not give the actual emoluments to substantiate your prevarications, Your arithmetic goofs, and that wanton penchant for chasing shadows and ignoring the substance of a gist. I doubt we could ever meet in any AC or Interviews as we are not intellectually compatible.

. . .And yes, I do have a complex: I do not suffer f.ools gladly if I even suffer them at all. Now you can understand why you throw fits at my posts. You are a f.ool. Period.

NB: I made this post watching the Blitz channel on DSTV. I know some baloney regurgitators whose stock-in-trade is to copy and paste.

let me not bury you alive yet
your comprehension skills is terrible
Shell/ D'Arcy didn't receive any exploration rights in 1921, D'Arcy was the one that received exploration rights then.
let me break it down for your simple mind to understand, taiwo received a certificate in 1921 is not the same as both Taiwo & kehinde received a certificate in 1921
Shell/ D'Arcy is not the same as D'Arcy.
The reference was made to tell your dumb mind that shell was not in Nigeria by 1921
Oil exploration license was given by the British government and it was in form of concession and not JVs
the only exploration right given then was concession and not JVs.
The British government was not in any JV with shell, infact they were not so keen about oil exploration in Nigeria as a colony due to large oil reserve in Persia (now iran) as at then. Another error, the British government gave concessionary exploration rights pre independence. Now, it was D'Arcy that invited shell to Nigeria, in fact the British didn't even want to give the shell/D'Arcy JV license because they felt "shell was a foreign company"
another error, shell/D'Arcy was registered as a local company named Shell/D'Arcy petroleum development company of Nigeria Limited on 10th September 1951 in Lagos as against your crazy conjectures.

eruditor when will you learn, you are too lazy to read, but i decided to help your average mind by giving your excerpts from History books, yet you cant understand, and i have to take the pain to start explaining things to you because your comprehension ability is terrible, i dont have this kind of challenge when explaining things to my kid sister oo. you keep wallowing in self destructive lies and silly conjectures.

I am tired of correcting you joor.

You typed your gibberish while watching blitz, me i typed this after a stressful day at the largest gas fired power plant in west Africa.
i am tired joor.

anyaekekehinde:


let me not bury you alive yet
your comprehension skills is terrible
Shell/ D'Arcy didn't receive any exploration rights in 1921, D'Arcy was the one that received exploration rights then.
let me break it down for your simple mind to understand, taiwo received a certificate in 1921 is not the same as both Taiwo & kehinde received a certificate in 1921
Shell/ D'Arcy is not the same as D'Arcy.
The reference was made to tell your dumb mind that shell was not in Nigeria by 1921
Oil exploration license was given by the British government and it was in form of concession and not JVs
the only exploration right given then was concession and not JVs.
The British government was not in any JV with shell, infact they were not so keen about oil exploration in Nigeria as a colony due to large oil reserve in Persia (now iran) as at then. Another error, the British government gave concessionary exploration rights pre independence. Now, it was D'Arcy that invited shell to Nigeria, in fact the British didn't even want to give the shell/D'Arcy JV license because they felt "shell was a foreign company"
another error, shell/D'Arcy was registered as a local company named Shell/D'Arcy petroleum development company of Nigeria Limited on 10th September 1951 in Lagos as against your crazy conjectures.

eruditor when will you learn, you are too lazy to read, but i decided to help your average mind by giving your excerpts from History books, yet you cant understand, and i have to take the pain to start explaining things to you because your comprehension ability is terrible, i dont have this kind of challenge when explaining things to my kid sister oo. you keep wallowing in self destructive lies and silly conjectures.

I am tired of correcting you joor.

You typed your gibberish while watching blitz, me i typed this after a stressful day at the largest gas fired power plant in west Africa.
i am tired joor.

Bunkum from a deluded mugu. As usual, chasing after the shadows and neglecting the gist. I wish you can see how hard I am laughing at your parochialism. You are so fixated on trying to catch me slip that you keep showcasing why the experiment on letting goats use NL should be annulled. And he is talking about comprehension issues. Hahahahahaha!

You are skillfully getting me to teach you without expressing the full compliments of gratitude.

1. I know you are too Halfwitted to see what 1921 was doing there. It showed how early OELs were being given. Long before your brother in idiocy tried to bring in the OPL argument in Nigeria.

b. The exploration licence D'arcy received was not for Nigeria. The statement in your copy and paste writ showed how long that company had been seeking to explore for crude in western Africa. So keep your boring lectures to your fellow simpletons and stick to the issue at hand.

2. The line "...British govt gave only concessions and not JVs" is a pathetic attempt at feigning being well-read. Like I said, the Colonial masters saw no reason to go into any financial commitment with any company until oil was discovered commercially. So the term concessionaire agreements only encompasses the OELs and OPLs (OMLs are excluded). Dolt!

3. You are so delusional. You create supposed errors in your head and then attribute them to me. What is Pre-independence? Did I say anywhere that the British govt gave concessions post-independence? You see why suicide might be the way to go for you?

4. The British were not so keen on oil in Nigeria? They didn't want shell because shell was foreign? D'arcy invited shell to Nigeria? Hahahahaha. Use this to educate yourself:

https://books.google.com.ng/books?id=LVC0VlPOJxEC&pg=PA110&lpg=PA110&dq=shell+d%27arcy&source=bl&ots=k6OrKGqk8H&sig=8If5P0HNBeGxz4qVk5_fhuPKGxU&hl=en&sa=X&ei=4bxHVb2NDcb3arCvgOAH&ved=0CEUQ6AEwBw#v=onepage&q=shell%20d'arcy&f=false

You would see clearly that not only are you vomiting piffle and baloney, you are also lying while at it. D'arcy were almost so irrelevant to shell, that most Nigerians felt the name meant nothing to them. And Sonny Mobil and one other french company (both Foreign, got OPLs pre-independence). So much for the Horse-sh*t on "they didn't want to bla bla...because Shell was foreign company".

5. Save that BS on when Shell D'arcy Petroleum development company or Shell-BP was registered. It is a weak diversionary attempt for someone who could not answer any questions from my earliest exchange with him till now.

Let me reiterate the question: where did the FG get capital to fund the cash call payments that substantiated the JVs they were involved in?

I put that question to you and him. Brainwork is required now, no more copy and paste. Let me prove to you and other NLders that you are a perfect example of what troglodytes will do when given a tecno phone to type. I do feel sorry for your younger sister since you just adduced her as proof that your parents breed cretins. Tell me does your father also understand you? What about your mum? That will make it a family of cretins. Self-disrespecting cretins I mean.

Btw I know a gas station attendant that also claims he is into Oil and Gas. I perceive you and him smoke the same weed.

Eruditor:


Bunkum from a deluded mugu. As usual, chasing after the shadows and neglecting the gist. I wish you can see how hard I am laughing at your parochialism. You are so fixated on trying to catch me slip that you keep showcasing why the experiment on letting goats use NL should be annulled. And he is talking about comprehension issues. Hahahahahaha!

You are skillfully getting me to teach you without expressing the full compliments of gratitude.

1. I know you are too Halfwitted to see what 1921 was doing there. It showed how early OELs were being given. Long before your brother in idiocy tried to bring in the OPL argument in Nigeria.

b. The exploration licence D'arcy received was not for Nigeria. The statement in your copy and paste writ showed how long that company had been seeking to explore for crude in western Africa. So keep your boring lectures to your fellow simpletons and stick to the issue at hand.

2. The line "...British govt gave only concessions and not JVs" is a pathetic attempt at feigning being well-read. Like I said, the Colonial masters saw no reason to go into any financial commitment with any company until oil was discovered commercially. So the term concessionaire agreements only encompasses the OELs and OPLs (OMLs are excluded). Dolt!

3. You are so delusional. You create supposed errors in your head and then attribute them to me. What is Pre-independence? Did I say anywhere that the British govt gave concessions post-independence? You see why suicide might be the way to go for you?

4. The British were not so keen on oil in Nigeria? They didn't want shell because shell was foreign? D'arcy invited shell to Nigeria? Hahahahaha. Use this to educate yourself:

https://books.google.com.ng/books?id=LVC0VlPOJxEC&pg=PA110&lpg=PA110&dq=shell+d%27arcy&source=bl&ots=k6OrKGqk8H&sig=8If5P0HNBeGxz4qVk5_fhuPKGxU&hl=en&sa=X&ei=4bxHVb2NDcb3arCvgOAH&ved=0CEUQ6AEwBw#v=onepage&q=shell%20d'arcy&f=false

You would see clearly that not only are you vomiting piffle and baloney, you are also lying while at it. D'arcy were almost so irrelevant to shell, that most Nigerians felt the name meant nothing to them. And Sonny Mobil and one other french company (both Foreign, got OPLs pre-independence). So much for the Horse-sh*t on "they didn't want to bla bla...because Shell was foreign company".

5. Save that BS on when Shell D'arcy Petroleum development company or Shell-BP was registered. It is a weak diversionary attempt for someone who could not answer any questions from my earliest exchange with him till now.

Let me reiterate the question: where did the FG get capital to fund the cash call payments that substantiated the JVs they were involved in?

I put that question to you and him. Brainwork is required now, no more copy and paste. Let me prove to you and other NLders that you are a perfect example of what troglodytes will do when given a tecno phone to type. I do feel sorry for your younger sister since you just adduced her as proof that your parents breed cretins. Tell me does your father also understand you? What about your mum? That will make it a family of cretins. Self-disrespecting cretins I mean.

Btw I know a gas station attendant that also claims he is into Oil and Gas. I perceive you and him smoke the same weed.

XIV International Economic History Congress,
Helsinki 2006 SESSION11
OIL EXPLORATION IN COLONIALNIGERIA

By
Phia Steyn
Department of History
University of Stirling
Scotland

anyaekekehinde:



XIV International Economic History Congress,
Helsinki 2006 SESSION11
OIL EXPLORATION IN COLONIALNIGERIA

Phia Steyn
Department of History
University of Stirling
Scotland

Let me reiterate the question: where did the FG get capital to fund the cash call payments that substantiated the JVs they were involved in?

Put up for once or shut up forever.

Eruditor:


Let me reiterate the question: where did the FG get capital to fund the cash call payments that substantiated the JVs they were involved in?

Put up for once or shut up forever.

You see, I have to agree with you, i made lots of mistake and i apologise..you are always right.

The capital FG used to fund the JVs they ventured into after the post 1969 concession era was from Nigeria's proceeds from groundnut, cocoa and oil palm etc. you see, Nigeria was not making any income at all from oil before it entered those Jvs.

In fact shell/D'Arcy and the firms mining and trading crude befor the era of concession was over were not paying any form of royalty, dues, PPTs etc to the Nigerian government.
Even the money that shell/D'Arcy used for exploring and drilling for oil in oloibiri was from Nigeria's agricultural produce.
Again even though Nigeria's daily production hit 1 million bpd in 1970 (still before the JV era, because the first JV was in 1973 and FG only owned 35% in that JV), the money money that FG used to fund that first JV in1973 was gotten from income from agricultural produce and non-oil tax.

Also during the JV era, the money for subsequent JVs was solely gotten from Nigeria's income from agricultural produce.
I later discovered that the reason why can no longer do JVs and we now moved from JV to PSC was because there was no longer money from agriculture which has been the main stay of our economy.

I may not know much but one thing i know is crude oil production had hit 1million bpd in 1970 in the Niger delta, before the FG ventured into its first JV ( of 35%) in 1973.

Eruditor I bow to your superior argument, I have answered your question and I and rest my case. lol

anyaekekehinde:


You see, I have to agree with you, i made lots of mistake and i apologise..you are always right.

The capital FG used to fund the JVs they ventured into after the post 1969 concession era was from Nigeria's proceeds from groundnut, cocoa and oil palm etc. you see, Nigeria was not making any income at all from oil before it entered those Jvs.

In fact shell/D'Arcy and the firms mining and trading crude befor the era of concession was over were not paying any form of royalty, dues, PPTs etc to the Nigerian government.
Even the money that shell/D'Arcy used for exploring and drilling for oil in oloibiri was from Nigeria's agricultural produce.
Again even though Nigeria's daily production hit 1 million bpd in 1970 (still before the JV era, because the first JV was in 1973 and FG only owned 35% in that JV), the money money that FG used to fund that first JV in1973 was gotten from income from agricultural produce and non-oil tax.

Also during the JV era, the money for subsequent JVs was solely gotten from Nigeria's income from agricultural produce.
I later discovered that the reason why can no longer do JVs and we now moved from JV to PSC was because there was no longer money from agriculture which has been the main stay of our economy.

I may not know much but one thing i know is crude oil production had hit 1million bpd in 1970 in the Niger delta, before the FG ventured into its first JV ( of 35%) in 1973.

Eruditor I bow to your superior argument, I have answered your question and I and rest my case. lol

This attempt at sarcasm is a fiasco aimed at veiling the major underlying issue here, which is that you are a simpleton. I let you gallivant with all the bafflegab you were posting knowing that when the 'copy-and-paste' is done away with you'd have nothing to say. Thank you for proving me right.

I would summarise as much as possible.

1. Nigeria was under British Colonial rule till 1960. The mainstay of her economy was agriculture. Pre-independence, the British brought in their proxies to exploit the oil resources of Nigeria under the notion of being the "master". Shell was the proxy. Argue with your mirror.

"However, evidence from leaked US State Department documents have proven that Britain, through Shell-BP still held the most influence over the Nigerian oil industry at the time the war broke out."

http://en.m.wikipedia.org/wiki/Petroleum_industry_in_Nigeria

2. The British didn't find oil in commercial quantities early enough. From when they found it to when Nigeria gained independence was too short so they skillfully used the concessions they gave themselves to stay longer post-independence. They took the proceeds from the sale of the crude and gave the new Nigeria meagre taxes and royalties. (No ND money- other foreign companies even in Kogi gave royalties as well)

3. Civil war broke out in 1967, but the British were caught in 2 minds. The ND, where commercial oil was found was in the Biafran secessionist region but the recognised Nigerian government headed by Gowon was under their control. So they supported the Nigerian Army whose mission was to keep Nigeria unified. The British did this because they adjudged the Biafrans to be too independent and autonomous in their dealings and were afraid that they would cancel all the earlier signed concessions.

4. Long Story short, SS betrayed Biafra and Nigeria won the war which ended January 15, 1970. So the British had successfully protected their concessions but something unseemly happened: the Nigerian govt cancelled the concessions of other countries that supported Biafra during the war. The french whose proxy was SAFRAP (nowTotal or Elf) lost their concessions. This is what made Nigeria's stake become 35% in her oil and gas industry. This stake didn't translate into money immediately. It was only an asset. Nigeria still relied on her sales from Agriculture like groundnuts and Palm.

"Although the Nigerian government had maintained involvement in the industry prior to 1971, this was accomplished mainly through business deals on concessions of the foreign firms in operation."

http://en.m.wikipedia.org/wiki/Petroleum_industry_in_Nigeria


5. It was by 1971 that Nigerian government began to understand the industry better and realize that they were being shortchanged. So they created NNPC (then NNOC) to be their own proxy in the dealings of the oil sector and kept increasing their own stakes by military decrees till they owned 80% of the sector.

6. The downside of this was that Nigeria didn't know how to manage the industry because they were newbies so to gain some stability and leverage, they conceded more stocks to Shell-BP thus reducing their stake from 80% to close to 60-65%. In return, instead of the concessions that Shell-BP once had, FG offered them JVs. The capital provided for this was the relinquished ownership from 80% to 60%. If closely observed one can also call this a PSC.

TBH, I am talking too much. Just read the link I provided above and educate yourself. ND money only came in subsequently after the oil sector had developed post-1973. Prior to then, D'arcy and Shell paid money to acquire even the OELs they used in the SE in the 1930s. Nigeria even received royalties and taxes from those concessions before the boom of the 70s that necessitated a restructuring of the sector. So any capital Nigeria must have used for JVs in late 70s must have come from Agriculture, taxes and royalties (from the concessions). It was after the JVs that ND became the major provider

So people should stop trying to bamboozle us with how other parts of Nigeria are so dependent on the ND. There was a time that the ND too was dependent on other regions and anyone who doesn't know it, is only mischievously trying to re-write the history books.

Eruditor:


This attempt at sarcasm is a fiasco aimed at veiling the major underlying issue here, which is that you are a simpleton. I let you gallivant with all the bafflegab you were posting knowing that when the 'copy-and-paste' is done away with you'd have nothing to say. Thank you for proving me right.

I would summarise as much as possible.

1. Nigeria was under British Colonial rule till 1960. The mainstay of her economy was agriculture. Pre-independence, the British brought in their proxies to exploit the oil resources of Nigeria under the notion of being the "master". Shell was the proxy. Argue with your mirror.

"However, evidence from leaked US State Department documents have proven that Britain, through Shell-BP still held the most influence over the Nigerian oil industry at the time the war broke out."

http://en.m.wikipedia.org/wiki/Petroleum_industry_in_Nigeria

2. The British didn't find oil in commercial quantities early enough. From when they found it to when Nigeria gained independence was too short so they skillfully used the concessions they gave themselves to stay longer post-independence. They took the proceeds from the sale of the crude and gave the new Nigeria meagre taxes and royalties. (No ND money- other foreign companies even in Kogi gave royalties as well)

3. Civil war broke out in 1967, but the British were caught in 2 minds. The ND, where commercial oil was found was in the Biafran secessionist region but the recognised Nigerian government headed by Gowon was under their control. So they supported the Nigerian Army whose mission was to keep Nigeria unified. The British did this because they adjudged the Biafrans to be too independent and autonomous in their dealings and were afraid that they would cancel all the earlier signed concessions.

4. Long Story short, SS betrayed Biafra and Nigeria won the war which ended January 15, 1970. So the British had successfully protected their concessions but something unseemly happened: the Nigerian govt cancelled the concessions of other countries that supported Biafra during the war. The french whose proxy was SAFRAP (nowTotal or Elf) lost their concessions. This is what made Nigeria's stake become 35% in her oil and gas industry. This stake didn't translate into money immediately. It was only an asset. Nigeria still relied on her sales from Agriculture like groundnuts and Palm.

"Although the Nigerian government had maintained involvement in the industry prior to 1971, this was accomplished mainly through business deals on concessions of the foreign firms in operation."

http://en.m.wikipedia.org/wiki/Petroleum_industry_in_Nigeria


5. It was by 1971 that Nigerian government began to understand the industry better and realize that they were being shortchanged. So they created NNPC (then NNOC) to be their own proxy in the dealings of the oil sector and kept increasing their own stakes by military decrees till they owned 80% of the sector.

6. The downside of this was that Nigeria didn't know how to manage the industry because they were newbies so to gain some stability and leverage, they conceded more stocks to Shell-BP thus reducing their stake from 80% to close to 60-65%. In return, instead of the concessions that Shell-BP once had, FG offered them JVs. The capital provided for this was the relinquished ownership from 80% to 60%. If closely observed one can also call this a PSC.

TBH, I am talking too much. Just read the link I provided above and educate yourself. ND money only came in subsequently after the oil sector had developed post-1973. Prior to then, D'arcy and Shell paid money to acquire even the OELs they used in the SE in the 1930s. Nigeria even received royalties and taxes from those concessions before the boom of the 70s that necessitated a restructuring of the sector. So any capital Nigeria must have used for JVs in late 70s must have come from Agriculture, taxes and royalties (from the concessions). It was after the JVs that ND became the major provider

So people should stop trying to bamboozle us with how other parts of Nigeria are so dependent on the ND. There was a time that the ND too was dependent on other regions and anyone who doesn't know it, is only mischievously trying to re-write the history books.

wait a minute, you actually quoted wikipedia as the source of your information
are you kidding me, wikipedia..?
lol

as i have said repeatedly wikipedia is not a good source of information, only lazy people use wikipedia
The last time i use wikipedia was in 200level, and i almost regretted it, it is the biggest source of error.

i cant start listing all my sources of information, because before i say something, i would have consulted from multiple sources, that is the way we can guide against error
wikipedia has only 4 staffs, it is you and I that write whatever we like on wikipedia when we have a wikipedia account.

anyaekekehinde:


wait a minute, you actually quoted wikipedia as the source of your information
are you kidding me, wikipedia..?
lol

as i have said repeatedly wikipedia is not a good source of information, only lazy people use wikipedia
The last time i use wikipedia was in 200level, and i almost regretted it, it is the biggest source of error.

i cant start listing all my sources of information, because before i say something, i would have consulted from multiple sources, that is the way we can guide against error
wikipedia has only 4 staffs, it is you and I that write whatever we like on wikipedia when we have a wikipedia account.

As if the other source you mentioned received his own information from heaven. The link from wikipedia referenced the journals, books and articles where they got the information from. When any statement is unreferenced it is always stated. Read the link and see that [13] and [14] were the references. Stop being an incorrigible turd.

Besides, I typed what I wanted to before using Wiki to buttress what I had to say. I didn't even say anything incredible or egregious. You can readily find more sources if you searched.

13. Klieman, Kairn A. (2012). "U.S. Oil Companies, the Nigerian Civil War, and the Origins of Opacity in the Nigerian Oil Industry". Journal of American History 1 (1): 155–165. doi:10.1093/jahist/jas072.

14. Awoyokun, Damola (February 19, 2013). "BIAFRA: The Untold Story of Nigeria’s civil war".

Eruditor:


As if the other source you mentioned received his own information from heaven. The link from wikipedia referenced the journals, books and articles where they got the information from. When any statement is unreferenced it is always stated. Read the link and see that [13] and [14] were the references. Stop being an incorrigible turd.

Besides, I typed what I wanted to before using Wiki to buttress what I had to say. I didn't even say anything incredible or egregious. You can readily find more sources if you searched.

13. Klieman, Kairn A. (2012). "U.S. Oil Companies, the Nigerian Civil War, and the Origins of Opacity in the Nigerian Oil Industry". Journal of American History 1 (1): 155–165. doi:10.1093/jahist/jas072.

14. Awoyokun, Damola (February 19, 2013). "BIAFRA: The Untold Story of Nigeria’s civil war". 

hmm eruditor, i am calling on you once again, i took time out to study the link that you posted (number 13) who author you cited above. below is excerpts from that author:

"The Oil Boom of 1964–1965
Standard histories of Nigeria attribute the nation’s first oil boom to the 1970s,
when global oil prices skyrocketed. This is a mistaken assumption, for
research indicates a substantial boom occurred between 1964 and 1965.
Nigerian oil production began in 1956, when Royal Dutch Shell (as Shell
D’Arcy) discovered oil at Oloibiri in the eastern region. By 1965 both Shell and
Gulf Oil were producing—the former from onshore concessions in the East and
the latter offshore in the midwestern region. Five other companies—Société
Africaine des Pétroles (SAFRAP), Azienda Generale Italiana Petroli (AGIP),
Philips Petroleum Company, Amoseas, and Mobil—had struck oil and were in
the early stages of development, and Tenneco had obtained concessions but
not found oil. In the eastern city of Port Harcourt more than twenty-five
service companies had established offices, and a new refinery was opened in
September 1965. 5
The American embassy in Nigeria reported on the “boom atmosphere” of Port
Harcourt, citing 1964 as “the benchmark for when Nigeria moved from a
marginal producer to a major world oil producer of great promise for the
future.” Crude output increased from 84,000 barrels per day in January 1964
to 301,352 barrels per day in August 1965, with an attendant increase in
export revenues from £20 million to £60 million, ranking Nigeria the thirteenth-
largest oil producer in the world. 6"

justify your own theories based on the above excerpts

Thank God say no bi me quote the author, na you cite the author , you even told me me to go and read it.

13th largest producer of oil by 1965 by producing 301,352 bpd in August 1965 (source of statistics -the author that eruditor referred me to).

Total production of crude in December 1966 was 17million barrels, spread of the 31 days makes it daily production of over 500,000 bpd (source - Monthly Petroleum Information published by Ministry of Mines and Power, Lagos, 1966) making Nigeria 11th largest producer of oil that month worldwide.
In 1970, daily oil production hit 1million bpd, nigeria was already among top 10 largest producer.

All these were during the concession era, befor the JV era in 1973, yet someone will tell me its proceeds from agric that was used to fund JV projects for the top 11th largest producer of oil.

anyaekekehinde:


hmm eruditor, i am calling on you once again, i took time out to study the link that you posted (number 13) who author you cited above. below is excerpts from that author:

"The Oil Boom of 1964–1965
Standard histories of Nigeria attribute the nation’s first oil boom to the 1970s,
when global oil prices skyrocketed. This is a mistaken assumption, for
research indicates a substantial boom occurred between 1964 and 1965.
Nigerian oil production began in 1956, when Royal Dutch Shell (as Shell
D’Arcy) discovered oil at Oloibiri in the eastern region. By 1965 both Shell and
Gulf Oil were producing—the former from onshore concessions in the East and
the latter offshore in the midwestern region. Five other companies—Société
Africaine des Pétroles (SAFRAP), Azienda Generale Italiana Petroli (AGIP),
Philips Petroleum Company, Amoseas, and Mobil—had struck oil and were in
the early stages of development, and Tenneco had obtained concessions but
not found oil. In the eastern city of Port Harcourt more than twenty-five
service companies had established offices, and a new refinery was opened in
September 1965. 5
The American embassy in Nigeria reported on the “boom atmosphere” of Port
Harcourt, citing 1964 as “the benchmark for when Nigeria moved from a
marginal producer to a major world oil producer of great promise for the
future.” Crude output increased from 84,000 barrels per day in January 1964
to 301,352 barrels per day in August 1965, with an attendant increase in
export revenues from £20 million to £60 million, ranking Nigeria the thirteenth-
largest oil producer in the world. 6"

justify your own theories based on the above excerpts

Thank God say no bi me quote the author, na you cite the author , you even told me me to go and read it.

13th largest producer of oil by 1965 by producing 301,352 bpd in August 1965 (source of statistics -the author that eruditor referred me to).

Total production of crude in December 1966 was 17million barrels, spread of the 31 days makes it daily production of over 500,000 bpd (source - Monthly Petroleum Information published by Ministry of Mines and Power, Lagos, 1966) making Nigeria 11th largest producer of oil that month worldwide.
In 1970, daily oil production hit 1million bpd, nigeria was already among top 10 largest producer.

All these were during the concession era, befor the JV era in 1973, yet someone will tell me its proceeds from agric that was used to fund JV projects for the top 11th largest producer of oil.

Since you have changed the tone of your post, I would do well to return the courtesy. It might interest you to know that I too, have read that PDF.

I have been avoiding the need to make very lengthy posts so I would give another synopsis.

1. Pg 156 of that PDF said by 1964-65, the political economy of oil in Nigeria introduced opacity- the deliberate obfuscation of information related to oil production, revenues, accounting and operations.

Question, who was deliberately obfuscating it? The British in Connivance with the other foreign nationals within the country. They did it so that Nigerians will not truly know how much they were making from the sales of the crude etc. There was no DPR or MPR or NNPC then. So most of the figures you are seeing now are in retrospect. Nigerians didn't know much about oil and gas.

2. The British gave themselves and other Multinationals concessions. What is a concession? It is like rent or lease. If Oniru leases his land to The Palms all he gets from them is the lease fee. Even if The Palms are selling diamonds on that land he cannot do anything about it. That is the same way those concessions worked. The multinationals gave Nigeria money (in terms of rents, taxes and royalties) but they kept the major bulk of the crude sold, unlike what obtains today.

3. The way the money was shared is 50% goes to the region of origin (at this point ND was in Eastern region) then 20% to the FG and 30% to be shared by the rest of Nigeria. Which means that all those 20-60M pounds you were reading about was going to the British as well as other MNCs. Nigeria only got rent, taxes and Royalties.

The PDF said so. The author said, "the system was acceptable because the main export at the time was Agriculture which everyone in Nigeria had". (You can verify this).

So when JV idea came in the 1970s, Nigeria coughed out money to settle their own side of the agreement from their main export- Agriculture. The JV now made Nigeria to benefit as much as 70% of the revenue on oil and since the prices then had sky-rocketed, Nigeria made alot of money. Hence Oil boom.

Recall that it was in 1969 that Gowon cancelled the old revenue allocations from Oil and Gas by reducing States allocations to only 20% and keeping 80% to themselves. In return, the new allocations meant that the states in which oil was produced will get a greater % than others based on how much they contributed. So when JVs begun and 70% went to Nigeria. It became clear that Nigeria became heavily reliant on the ND. This was post 1973.

NB: I am distracted. I am watching FCB play.

How did it go?


https://www.youtube.com/watch?v=x66YcXVvsxg

They have failed. Lets move on.