God bless PMB
God bless you
God bless Nigeria

Laudable

Every thing in Nigeria now centre on oil.The day oil will finish that will be the end of this entity called Nigeria

atlwireles:
Another tales by moonlight, by the lying almajiri squad.

You no get sense o. You be waste of sperm.

now

Wi

buskie13:
A dullard remains a dullard no matter what he does....sai Buhari

with such a comment coming from you with regards to this news,its obvious you are the Dullard here.Look no further,its in you

No doubt,I like that. But,we want its manifest results soon. Baba go slow,dey steady dey go!

#Terminator 4 - The Rebirth starring PMB
way to go sir

PMB will go down as nigeria's best president.

a new dawn.

J

DropShot:

You no get sense o. You be waste of sperm.

One of the sai chanters, from the almajiri lying platoon of their dullard from daura. Slave, go pound sand.

ok

Lemme think about it.

atlwireles:
Another tales by moonlight, by the lying almajiri squad.

Comment from babies factory

This is what is expected of a Leader! PMB carry go!

jboy73:
Baba is going slow.


And improving Nigeria slowly.

For the first time in 3years I experience 3days uninterrupted power.


This Daura man is not intelligent that we all know!!


But thank God he surrounds himself with intelligent people.

Not the Otueke, Black hat gang man

I would have given you a like if not for where you said he's not intelligent. It is intelligence in itself to surround yourself with intelligent people.

[quote author=jboy73 post=37314768][b]



Oga jboy73 We hail Pa Buharis efforts so far ! but I need you to heal yourself fast from GEJ and the Past ! Look forward ( like you started in your post!) you are a light bearer ok ?

likila:


i hope he was not mistaken for Abobaku ni

Can you ever be serious? Commenting is not a must please!

Keneking:
Sai Buhari...Your Prayers give heavenly feelings

"With the presidential approval, the NNPC is expected to formally trigger the exit clauses in the current OPA contracts in order to close them and commence a fresh re-tendering process aimed at getting more favourable deals for the government".

"Ministerial Prayers and Presidential Approvals: A Case Study of NNPC" would make an empirical study

some people that have commented on this thread praising GMB didn't see this part of the news.

They want to make their own cut from this re-tendering. It is funny. Okay na... IBB, Danjuma and co that forced this NNPC chairman on Brainless Baba Buhari will now take over what the former government denied them.

Ode! All in the page of Newspaper,Nigerian will exprience increase in price of Oil.... he only terminates..bt to secure another one...
na wahala

atlwireles:
Another tales by moonlight, by the lying almajiri squad.

The next election will be the easiest, mark it. These people are not used to winning votes and that is why they use the word capture. And you know they were in Abuja oxygen and that oxygen has been switched off, they are now in political paralysis, they are now plotting underground and they will remain underground because that is where dead people are kept. - See more at: http://www.vanguardngr.com/2015/08/nigerians-will-pelt-jonathan-stones-if-oshiomhole/#sthash.4mnjlD3E.dpuf

PDP in political paralysis! Osho Baba interview with vanguard is a must read, tanoids read and get sense

jboy73:
Baba is going slow.


And improving Nigeria slowly.

For the first time in 3years I experience 3days uninterrupted power.


This Daura man is not intelligent that we all know!!


But thank God he surrounds himself with intelligent people.

Not the Otueke, Black hat gang man

....and who told you Buhari is not intelligent You can't compare anyone in that your lineage with Buhari's intelligence... Fact

Nice job PMB

[s]

back2sender:


The next election will be the easiest, mark it. These people are not used to winning votes and that is why they use the word capture. And you know they were in Abuja oxygen and that oxygen has been switched off, they are now in political paralysis, they are now plotting underground and they will remain underground because that is where dead people are kept. - See more at: http://www.vanguardngr.com/2015/08/nigerians-will-pelt-jonathan-stones-if-oshiomhole/#sthash.4mnjlD3E.dpuf

PDP in political paralysis! Osho Baba interview with vanguard is a must read, tanoids read and get sense

[/s]

DropShot:
”Your prayer 5 above approved – PMB”

With those words, President Muhammadu Buhari on 13th August cancelled the controversial offshore processing and oil swap deals initiated in January this year by the outgone administration of Dr. Goodluck Jonathan.

The agreement was earlier billed to last till December 2016.


President Buhari’s approval is in a bid by the new leadership of the Nigerian National Petroleum Corporation (NNPC) to ensure transparency and due process.

In a memo to the President on August 12, the NNPC sought approval to terminate all such current contracts following a presidential directive.

“This memo purports to seek Mr President’s approval to terminate all current Offshore Processing and SWAP contracts and commence a fresh re-tendering process to ensure transparency, due process and optimized contract terms in favour of the NNPC,” stated the letter signed by Ibe Kachikwu, the Group Managing Director of NNPC.

Responding, the president approved the request in a memo dated August 13 and signed by the Permanent Secretary of the State House, Nebolisa Emodi.

The NNPC currently swaps a part of its allotted 445,000 barrels of crude per day to some oil companies and in return receives refined products.

Oil swap derives from the fact that Nigeria’s four refineries operate mostly below 50% installed capacity and since 2003, the NNPC has continued to allocate them 445,000 barrels of crude oil per day, which corresponds to 100% capacity. The oil swaps have come under criticism following allegations that they have been opaque and the government has been short-changed in the deals.

In its audit between 2009 and 2012, the Nigerian Extractive Transparency Initiative (NEITI) revealed that crude oil swap arrangements are not cost- effective, especially when compared to product prices and proceeds paid to the NNPC.

The audit exposed under-delivery of products by companies awarded such swap contracts to the tune of $866.189 million, and that this comprises Refined Products Exchange Arrangement of $500.075 million and Offshore Processing Arrangement of $366.114 million.
Civil society groups had repeatedly called for an end to the oil swap deals while also urging the Nigerian government to allocate to local refineries crude product based on operating capacity and the difference should be sold directly as crude.

The Africa Network for Environment and Economic Justice (ANEEJ) had in an advocacy position paper sent to the House of Representatives Committee on Petroleum (Downstream) called on the National Assembly to do all in its powers to end oil swaps in Nigeria.

The House has, however, failed to progress on a motion moved in June by Michael Enyong (Akwa Ibom) seeking an “urgent need for a forensic investigation of the contracts known as Refined Product Exchange Agreement or Swap Contract.” The lawmaker had alleged that Nigeria has lost considerable revenue due to leakages in the accounting system and mismanagement of the economy.

“There is the need to ensure transparency and accountability by the NNPC in the management of revenue accruing to the nation from crude oil, particularly in the prevailing circumstances where major buyers of Nigeria’s crude oil such as the United States has discovered alternative sources,” he said.

With the presidential approval, the NNPC is expected to formally trigger the exit clauses in the current OPA contracts in order to close them and commence a fresh re-tendering process aimed at getting more favourable deals for the government.

http://dailytimes.com.ng/buhari-terminates-oil-swap-agreements/

This is not good for Nigeria. In a country where government doesn't respect contract and Agreement, there is no hope for anyone and this will trickle down to the entire fabrics of the Nigerian Society. A Cobtract is a Contract. When NNPC goes into fresh SWAP contract, what will happen if the next administration comes and revived it?

Diesel marketers are now lamenting of low sales, due to the stability in electricity supply.