Zico5:
Ok, natural resource governance institute. To God I have never heard that before. But it may be an appendage of PDP if not how much is the price of crude oil that the NNPC would withhold 66 percent of the total sale. The set of people dealing with opposition are not smart at all because if not how do they want the populace to take this fat lies. Nigeria deserves better opposition, not the kangaroo one being played by the PDP. The truth will be revealed soon.

GBAM!
God Bless You. They think everybody will fall for their political stunts.
Natural Resources Governance Institute
Try harder please.

obailala:
Because a new sheriff is in town doesn't mean there wouldn't be thieves. But rather it means that when cases like this are raised, the case will definitely not be swept under the carpet. As for everything else, light has never been in Nigeria in any regime so it makes no sense blaming Buhari who has just spent 10 months in power and who has just had his first budget passed last week for power failure. Meanwhile you are not blaming your hero GEJ who spent 5 years with unprecedented oil income but who handed over a rotten power system generating less than 2000mw as at May 2015; such shameless hypocrisy.

Thank you. You've said it all.

Na Buhari wan chop all that mega
I go fast and pray for this man oh.

How far with facroock lawan case?

Lanceslot:
Golibe na o chi gi mere gi eze... Ka iga atum nku kam bata na ogbe gi? Lol

Kedu ebe ino

freeze001:


Cannot happen? Or already happening?

To be fair, there're always 2 sides to an argument; ur side and our side. And, until we get a fair hearing, any judgement is subjective. 'Cos, even from d statement he made in d US yesterday, he is insisting, he didn't submit any padded budget, I'm waiting for d senate to refute it!

freeze001:
Hypocrisy is when a Mr. Know-it-all reserves the office of Minister of Petroleum for himself in addition to being President when in reality, he knows absolutely zilch about the sector. Of course, they will pull the wool over his rheumy eyes and he will be none the wiser!

six month after been elected.if u can reason,u wil know he has not appointed his ministers

haitto99:
may God save my country........ nnpc really needs to be dismantled......even Putin can't stop the high level of corruption brewing there

do u knw vladmir putin at all?...

Zico5:
Ok, natural resource governance institute. To God I have never heard that before. But it may be an appendage of PDP if not how much is the price of crude oil that the NNPC would withhold 66 percent of the total sale. The set of people dealing with opposition are not smart at all because if not how do they want the populace to take this fat lies. Nigeria deserves better opposition, not the kangaroo one being played by the PDP. The truth will be revealed soon.

were u a fool wen u believed sls $50B unremmited claim or u hypocritically chose to believe it? Just asking to stimulate ur thought n make u use ur brain 4 once since buhari.

AnneMomoh:


The Same investigation under PMB on Budget Padding: and no one has been sacked or convicted?

Hmmmmm..

No one had been sacked but virtually all the permanent secretaries of ministries were sacked and retired. Were you in pluto when he did that? If it were Jonathan he would have looked for ways to defend that and hinge it on his opponent or opposition to distract his government. I know truth is always far from you and your ilks.

olassy239:
six month after been elected.if u can reason,u wil know he has not appointed his ministers

The more reason why he's entirely responsible for the renewed and improved madness. You and I know he's generally ignorant and more particularly of the petroleum sector. He has identified it as a critical area to be watched and overhauled where necessary. He comes into office and fails to appoint trustworthy ministers n experts more than 6 months into office. He finally appoints ministers and reserves for himself an office he knows nothing about in addition to being President. In other words, the minister of state/GMD cannot perform independent of his archaic interventions.

That combination of power, greed and crass ignorance is a lethal combination well vested in the president in no small measure!

This was from June to december 2015, reforms started in between, so a breakdown will suffix. TREASURY SINGLE ACCOUNT started in between, i think October 2015. All in all, the report is in the best interest of Nigerians.

porka:


See what hypocrisy is causing you.

So they are lost/stolen after all?

I asked you to consult your dictionary, 'unaccounted for' is not the same thing as stolen. It simply means, "come and explain to us what you've done with these amounts."

Only someone with a guilty conscience gets scared or thinks he's being called a thief when he/she is asked to come explain unclear/unaccounted figures.

I suggest you dgould also pick your dictionary to look up the meaning of hypocrisy.

obailala:
In circumstances like this, do you want to know the difference between this administration and the last one?

Under PMB: An investigation would be ordered and NNPC would be made to come out clean and explain the exact reason they aren't remitting funds. If their explanations don't hold water, they would be made to submit the funds.

Under GEJ: Upon hearing this story, GEJ in his unusually paranoid ways would quickly jump into defensive mode by becoming the spokesperson of NNPC. He would swiftly grant an interview where he would claim the report was generated by his political opponents to 'embarrass' his government; he would do this even before carrying out an investigation.

tah, which committee has Buhari set up to look into the CBNgate? hide yo shame down the drain.
where is d budget paddlers? guy u better warn yo self b4 these bias mo●s ban me dis morning

Amanwulu1:
were u a fool wen u believed sls $50B unremmited claim or u hypocritically chose to believe it? Just asking to stimulate ur thought n make u use ur brain 4 once since buhari.

Remember, SLS only stated that $49bn was unaccounted for, he never stated that is was stolen. After several explanations and submission of documentary evidence by NNPC, the amount was later reduced to $20bn; in essence, NNPC eventually came up and accounted for about $29bn by providing those documents/receipts. This is something very simple to understand.

The only reason why it became a scandal was because upon hearing of the unaccounted figure, instead of allowing nnpc to come forward and explain, the president took it personal and started denying and denouncing SLS claiming that SLS was trying to embarass his govt. The last time I checked, SLS never accused GEJ of stealing any money but the president's strange reaction certainly made him look guilty. Tell me I'm wrong?

obailala:
In circumstances like this, do you want to know the difference between this administration and the last one?

Under PMB: An investigation would be ordered and NNPC would be made to come out clean and explain the exact reason they aren't remitting funds. If their explanations don't hold water, they would be made to submit the funds.

Under GEJ: Upon hearing this story, GEJ in his unusually paranoid ways would quickly jump into defensive mode by becoming the spokesperson of NNPC. He would swiftly grant an interview where he would claim the report was generated by his political opponents to 'embarrass' his government; he would do this even before carrying out an investigation.

stop writing as if you an idiot. how many cases has the PMB done. The case of padded budget ..who and who are involved and what has been done to them. Do u even hear the case anymore.. tell me who was arrested and charged to court.
You can write this your poo to nitwit like you ..but know that some of us are non partisan and are watching closely.
PMB is a big disappointment.... there is no single utterance or promise by him that he has fulfilled. Tell me one...
from oh..we would recover billions of dollars from looters in 6 months...has he ?
oh , we would publish amount of looted find to oh..we wi use the money as evidence in court..
oh..we will punish those behind budget padding...where are they? we don't even hear their names not to talk of punish..
PMB utterance are very unreliable...maybe he forgets or he is simply a big liar..
for now, his regime is worse dan GEJ by miles... infact is like comparing generator light to candle..
nothing is working ..nothing..and is promising oh..it will get better..
is it so easy to build or repair ...he makes it look as if he has some magic wand that at his own time he will flip and everything will come to be ...that is deception or clear foolishness...
worse , Nigerians like you is typing rubbish ..

Amanwulu1:
were u a fool wen u believed sls $50B unremmited claim or u hypocritically chose to believe it? Just asking to stimulate ur thought n make u use ur brain 4 once since buhari.

See ur life, u can't even express urself well. Many half baked people like u are many in nairaland. Work more on urself and stop defending thiefs

that's good.

sammhi:


stop writing as if you an idiot. how many cases has the PMB done. The case of padded budget ..who and who are involved and what has been done to them. Do u even hear the case anymore.. tell me who was arrested and charged to court.
You can write this your poo to nitwit like you ..but know that some of us are non partisan and are watching closely.
PMB is a big disappointment.... there is no single utterance or promise by him that he has fulfilled. Tell me one...
from oh..we would recover billions of dollars from looters in 6 months...has he ?
oh , we would publish amount of looted find to oh..we wi use the money as evidence in court..
oh..we will punish those behind budget padding...where are they? we don't even hear their names not to talk of punish..
PMB utterance are very unreliable...maybe he forgets or he is simply a big liar..
for now, his regime is worse dan GEJ by miles... infact is like comparing generator light to candle..
nothing is working ..nothing..and is promising oh..it will get better..
is it so easy to build or repair ...he makes it look as if he has some magic wand that at his own time he will flip and everything will come to be ...that is deception or clear foolishness...
worse , Nigerians like you is typing rubbish ..

Kindly shut up when you are ignorant. The entire heads of the budget office were sent to the cleaners after the padding saga. It's not enough to mannerlessly throw insults around to strangers when you are clearly ignorant. And yeah, nothing in this world can ever beat the uselessness of GEJ's administration. Nonsense!
http://www.premiumtimesng.com/news/top-news/199953-breaking-budget-padding-buhari-removes-22-top-directors-budget-office.html

cc: odikimi

onatisi:

Bros bros brooooooosssss
The suffering never start oooooo
By the time it starts ,the neck of Nigerians will be like streetlight poles,then ppls brains wil straighten out

Don't curse Nigerians but you are free to curse yourself, since you have decided to be extremely negative.[color=#006600][/color]

Zico5:
Ok, natural resource governance institute. To God I have never heard that before. But it may be an appendage of PDP if not how much is the price of crude oil that the NNPC would withhold 66 percent of the total sale. The set of people dealing with opposition are not smart at all because if not how do they want the populace to take this fat lies. Nigeria deserves better opposition, not the kangaroo one being played by the PDP. The truth will be revealed soon.

Be deceiving yourself with the Kind of opposition the disaster apc (all progress cancelled) needs.

Pdp comiing back strong.

chinchum:
This was from June to december 2015, reforms started in between, so a breakdown will suffix. TREASURY SINGLE ACCOUNT started in between, i think October 2015. All in all, the report is in the best interest of Nigerians.

TSA started since under GEJ. This admin is just a joke.

It is said that part of the money witheld is used to fund existing contract obligations.(probably signed by i-buffon)
Buhari has canceled bad contracts and making efforts to adjust the existing ones that can't be cancelled immediately.
That what they use money for is not totally disclosed does not mean they are being stolen.

tuniski:

Be deceiving yourself with the Kind of opposition the disaster apc (all progress cancelled) needs.

Pdp comiing back strong.

To loot our resources dry again. U are a big joke

tuniski:

TSA started since under GEJ. This admin is just a joke.

tsa on paper during gej, actual implementation across 700 agencies /ministries of governent was in 2015 under the new admin.

Some People don't take the time to read, they just look at headlines and because they have made up their mind that nigeria will fail, they continue with their pattern of self hate.

For these set of people, I will bolden the important statements in this report.
1) Notice the report said the money was witheld not missing
Now while comparing the money being remitted between now when a barrel is less than £35 and when it was more than 3 times its value now
You do the maths

DickDastardly:
A new report on Thursday said despite President Muhammadu Buhari’s attempt at ensuring transparency in the oil sector, the Nigerian National Petroleum Corporation, NNPC, still withholds billions in oil revenues from the government account.
The report by the Natural Resource Governance Institute, titled “NNPC still holds blank check” said that within the first six months of the Buhari administration, the NNPC withheld over $4.2 billion (about N824.7 billion) out of a total of $6.3 billion (N1.24 trillion) revenues realised from crude oil sales in the second half of 2015.
The withheld revenues represented about 66 per cent of the total revenue – $1.4 billion earnings from Nigeria’s regular crude oil exports for the period; $3.4 billion from domestic crude oil sales, and $1.5 billion from oil sold from the corporation’s upstream subsidiary, the Nigerian Petroleum Development Company, NPDC oil fields.
The report said only $2.1 billion (about N413.7 billion) was transferred to the Federation Account.
The group said the unremitted revenues for the six months was about 14 per cent more than the amount withheld by the corporation under the Goodluck Jonathan administration in the first half of 2015, and about 12 per cent higher than the share withheld in 2013 and 2014.
The report said the figure of unremitted oil revenues in 2015 contrasted sharply with 2005 figures, which showed the NNPC remitted about 68 per cent of its total oil sale earnings to the Federation Account and kept only 32 per cent that year.
The report said while part of the withheld funds was used for servicing Nigeria’s share of the joint venture operating obligations, the NNPC did not fully explain what the other retained revenues from domestic crude and NPDC oil sales were used for.


In general, the report said despite the on-going reforms in the oil sector, the NNPC under the present administration was still retaining a major share of oil sale earnings and spending at will.
Some of the reforms by the Buhari government, the report noted, have cut the number of passive, well connected middlemen that pocketed billions of oil revenues, while the administration has cancelled costly, unbalanced NNPC swap contracts as well as seek more efficient replacements.
The report lamented that recent announcements on NNPC reforms and the latest drafts of the Petroleum Industry Bill, PIB, by the Ministry of Petroleum Resources, failed to adequately address how NNPC and the government would share future oil revenues
“Until government establishes a clear, legally enforceable rule governing which revenues NNPC can keep and how they can be spent, oil sector corruption and waste could return to their prior devastating levels once the president (Buhari) leaves, or prices rise,” the report noted.
While encouraging government to push ahead with its reform plans for the oil sector, NRGI stressed the need for NNPC to adopt new financial controls and transparency measures for its subsidiaries, especially bordering on the several billion revenues retained each year from NPDC operations and its oil trading and marketing subsidiaries.
The Institute also called for the immediate replacement of the 445,000 barrels per day crude oil allocation for domestic refining with a fit-for-purpose mechanism for supplies to the country’s four refineries.
“The government should move to curb the corporation’s discretionary, unaccountable use of much-needed public funds. Until the government instates clear rules for NNPC financing, both the controversies and the underlying revenue leakages will persist,” the report said.
Describing the NPDC as one of the Nigerian petroleum sector’s “great black boxes”, the report said some of the oil from the company’s fields went to its strategic alliance partners, two of which were paid in oil for purportedly shouldering the company’s financial obligations.
From the production of an average of 30,000 barrels per day of Okono grade crude during the period, the report said NNPC retained all earnings ( about $12.3 billion over the past decade) from the offshore Oil Mining Lease (OML) 119 owned wholly by NPDC.

Source:

http://www.premiumtimesng.com/news/headlines/201087-nnpc-withheld-n824-7-billion-oil-revenue-6-months-buharis-govt-report.html

Zico5:

To loot our resources dry again. U are a big joke

Well when we get to 2019 nigerians will vote not apc or pdp. One man one vote. Those who looted are nigerians in apc,pdp and others. Kini big deal?

tuniski:

TSA started since under GEJ. This admin is just a joke.

Did Gej ever execute TSA? U reason as if others were not in Nigeria then.u know which admin is a joke but could not talk. Let 2019 comes then we shall see how things goes. Remember that PDP was there for 16 years wt nothing to show for it. So don't judge a less than a year government yet. U re only after ur self interest right

obailala:

The budget padding incident was investigated, Buhari called for an investigation and he vowed to punish those found wanting. Eventually, several people including the director of the budget office lost their jobs and the investigations are still ongoing even as the NASS took up the responsibility to properly scrutinise and clean the budget.

Unlike Jonathan, Buhari did not claim the padding story was a lie even before investigations, and he did not develop instant paranoia by claiming it was his political opponents that made up the padding stories. When real leaders get to hear of such allegations, they call for an investigation. That is the difference between both leaders and it is very clear.

http://punchng.com/budget-padding-indicted-ministry-officials-posted-cash-office/


so what's your take on this issue now?