Oloriburuku ni eyin Pdp ti e n soro lori Buhari..the so called party was dia for gud 16yrs and notin to show for it oly looting out our money and using billions of naira to buy card for independence day aye yin ma baje ni.cake wey den dey do for 30 to 60 thousands naira u cun dey use billions do ham aye ni ma baje ni..is it because dis so called buhari is exposing the criminal act of all d past government dats why u ar critisizing him ko ni daa fun yin

fulanimafia:
That decision was the brainchild of Ibe Kachukwu, and is right considering the fact that the decision was based on successful results of preliminary studies.

https://www.thecable.ng/kachikwu-nigeria-closer-oil-find-chad-basin

While the value of oil is sinking, it remains an asset and it will be the results of feasibility studies for the exploration that will determine the futility or otherwise of this decision, and not the wails of sore losers.

Interesting. Study this:
http://www.thisdaylive.com/articles/nnpc-loses-millions-of-dollars-on-crude-oil-exploration-in-chad-basin/191226/

Also, on a different topic for insight to relate to his personality, enquire from staffs of the Refineries in the country to know what he did when he was informed the refineries undergoing maintenance process needed to be completed in order to operate at the required capacity.
In order words, Mr Kachukwu 'wants to impress' PMB, not being efficient or effective.

erinalex:
just as u'r not disturbed,with dasukigate. Ur priority is biafra,god will help you.

Do I look anythinq like those biafran aqitators??!

U re more clueless becos we have lots or crude reserve in the chad basin or North eastern Nigeria. So who is now clueless.. am a geologist n I know what am saying.. this is why am for the social media bill.. so that people like u will get some brains.. if u dont ave we can refer u to were u can get one..

ShowYourCertificate:
So because Jonathan started it then Buhari must complete it? You've just confirmed Buhari's cluelessness.

4Play:


There has to be some limit to this lickspittle defence of the government. So declining production requires that the Govt expend scarce money looking for oil?

If there was a compelling commercial logic to this, there are plenty of private oil companies who will happily undertake the exploration themselves. This is more a political decision than a commercial decision. In the light of the revenue straitjacket they're operating under, it is complete and utterly idiocy to embark on such expenditure.

Well, yes. It is common sense, and common wisdom to replace your reserves...if not, you'll dry up someday. Exploration is highly capital intensive, but there's a reason why no oil major is completely scrapping their exploration budgets even with the low oil price.

There is some politics to these things, but it is a necessary expenditure. I would rather spend money on this than on the nearly useless amnesty program that gulps even more money.

WAILERS ALLOWED TO WAIL TILL EXPIRY DATE 2019.CRY ME A RIVER AND WILL CHNFE NOTHING. HOPELESS CURRUPTED PEOPLE.
SAI BABA PMB.

magzey:
WAILERS ALLOWED TO WAIL TILL EXPIRY DATE 2019.CRY ME A RIVER AND WILL CHNFE NOTHING. HOPELESS CURRUPTED PEOPLE.
SAI BABA PMB.

Why would you allow your SKULL to GET SO SO BECLOUDED BY SENTIMENTS THAT U CANNOT REASON LIKE HUMAN

jideflows:
U re more clueless becos we have lots or crude reserve in the chad basin or North eastern Nigeria. So who is now clueless.. am a geologist n I know what am saying.. this is why am for the social media bill.. so that people like u will get some brains.. if u dont ave we can refer u to were u can get one..

If truly you are a Geologist you'd know that the topology of the chad basin in Nigeria is different from those in Chad, Niger, Cameroon and even Algeria, Central African Republic and Libya.

Let me ask you a simple question. Why is it that the Nigerian government is spending it's money in oil exploration in its chad basin while the likes of Chad, Cameroon and others aren't spending theirs? In Chad and Cameroon, it is ExxonMobil, Shell and ConocoPhillips that are doing the exploration and extraction, not the government. If you can answer this question as a geologist that you claim to be then you'll know that we don't have lots of crude oil reserve in our chad basin.

texazzpete:


Well, yes. It is common sense, and common wisdom to replace your reserves...if not, you'll dry up someday. Exploration is highly capital intensive, but there's a reason why no oil major is completely scrapping their exploration budgets even with the low oil price.

There is some politics to these things, but it is a necessary expenditure. I would rather spend money on this than on the nearly useless amnesty program that gulps even more money.

Government shouldn't be investing in this sort of venture. If truly there are commercial quantity of crude oil reserves then the government should have convinced the oil firms to come and do the oil explorations themselves. I doubt that the oil in that region is in commercial quantity. We are wasting our scarce resources.

ShowYourCertificate:
Government shouldn't be investing in this sort of venture. If truly there are commercial quantity of crude oil reserves then the government should have convinced the oil firms to come and do the oil explorations themselves. I doubt that the oil in that region is in commercial quantity. We are wasting our scarce resources.

Several Oil companies are already carrying out exploration activities. Even if you invite multinationals, much of the time the Government provides part funding.

Guess what activity you need to do to determine the presence and quantity of crude?

Exploration.

put aside partisan politics and focus on what is best for your country.

texazzpete:


Several Oil companies are already carrying out exploration activities. Even if you invite multinationals, much of the time the Government provides part funding.

Guess what activity you need to do to determine the presence and quantity of crude?

Exploration.

put aside partisan politics and focus on what is best for your country.

What's best for our country is to diversify our economy, not this.

Everybody relax its all part of the northern agenda. Sad to say this is the best the government can think about at this difficult time, building castles in the sky

loomer:


Oga, but u dey read news about oil price lately. What use is the exploration gonna be wen the price of crude dey drop like plane wey wan crash?

let him waste the money. You have always supported 8 years.of Jonathan administration. Do you want what had been Invested in Chad basin a Waste? no matter the low price of oil, we will still make our money no after. discovery

Later APC will be telin us they wil diversify our source of income from oil to agriculture. Please someone should send back our fulani president back to the bush to train cows. That money shld be used for agricultural purposes. Well keep pushing such money into the project, wen your govt is over the next govt wil prob u and u wil rot in jail

yaya93:
let him waste the money. You have always supported 8 years.of Jonathan administration. Do you want what had been Invested in Chad basin a Waste? no matter the low price of oil, we will still make our money no after. discovery

How can u make money from something that's beginning to less and less profitable of late?

We should seek alternative to making nigeria great. Worst part self, we no even get refineries to even refine the crude.

I have not condemned petroleum related activities. Maybe u are the one with poor understanding wahala.

How do u support the exploration of crude in an area that has not had much yield despite all d billions of dollars already expended there? In a country where we still oddly produce crude n import refined petroleum? Did u not see in my post where I said expenses should rather be geared towards building new refineries to put an end to d infernal importation of petroleum?

The countries u named are they as crazy n foolish as Nigeria has been in the handling of our petroleum industry? Renewable energy serves as a viable alternative which should be pursued to reduce over dependence on crude and also improve power supply.

Petroleum is not expected to be phased out completely but it must be properly and efficiently managed. Now is not the time to expend scarce resources on areas that do not in any way translate to an improvement of d economy in the short run. Rather d govt ought to be creating an investment friendly environment that brings in investors to get involved in such ventures if viable.

Nalikedis:
Renewable energy this, renewable energy that... Knowledge without understanding and wisdom na real wahala O. If you care to know a technologically advanced Russian has not been looking for alternative in renewable energy but rather they are exploiting their opportunity in fossil gas production in the face of the present oil price debacle. Oil price will always fall and also they will always rebound. Isreal, UK, Brazil, Russia, Ukraine are still massively investing into oil exploration... Infact, investment into exploration by oil companies have not been so affected with the oil price but rather production. Most companies are even investing into exploration more now that is why geologists are getting recruited despite job loss that is prevalent in oil companies

Now u rw taking. . Thats Nigeria for u.. I quesa its the MOU they singed with the oil companies. . As for reseeve.. we have huge reserve in the Chad basin..

ShowYourCertificate:
If truly you are a Geologist you'd know that the topology of the chad basin in Nigeria is different from those in Chad, Niger, Cameroon and even Algeria, Central African Republic and Libya.

Let me ask you a simple question. Why is it that the Nigerian government is spending it's money in oil exploration in its chad basin while the likes of Chad, Cameroon and others aren't spending theirs? In Chad and Cameroon, it is ExxonMobil, Shell and ConocoPhillips that are doing the exploration and extraction, not the government. If you can answer this question as a geologist that you claim to be then you'll know that we don't have lots of crude oil reserve in our chad basin.