Dec 15 Nigeria's oil production is close to 1.8 million barrels per day (bpd), oil minister Emmanuel Ibe Kachikwu told a forum in Abuja on Thursday. Kachikwu and oil majors ExxonMobil, Royal Dutch Shell, Eni and Chevron are expected to sign a deal later in the day over repayments of$5.1 billion in debt from joint venture projects.
Nigeria has struggled with debt to oil majors amid the fall in oil prices over the past two years, as well as due to production declines from peak production of 2.2 million bpd as a result of persistent militant attacks in the oil-producing Niger Delta region.The Forcados crude stream, with roughly 300,000 bpd, has been under force majeure since February, and in the third quarter production was roughly 1.63 million bpd, according to the country's statistics office. Kachikwu said the primary goals for 2017 would be to secure "lasting peace" in the Niger delta, gain external funding for oil investments and improve the nation's oil refining system.

Truth234:


President Muhammadu Buhari has presented a N7.298 trillion 2017 budget before the joint session of the National Assembly.

The presentation was made on Wednesday in Abuja with members of the senate and House of Representatives in joint session.

President Buhari said at the ceremony that government benchmarked the 2017 budget at N305 naira against one US dollar ($1) .

He said the budget is also predicated on daily crude oil production of at 2.2 million barrels and at $42 per barrel.

News Agency of Nigeria NAN

mamabomboy post=51950353:


Nigeria has struggled with debt to oil majors amid the fall in oil prices over the past two years, as well as due to production declines from peak production of 2.2 million bpd as a result of persistent militant attacks in the oil-producing Niger Delta region.
http://uk.mobile.reuters.com/article/idUKL5N1EA2SC?rpc=401&

http://investorsking.com/president-buhari-presents-n7-3trn-2017-budget/

mamabomboy:
God will punish Kachikwu and Buhari for the many lies and false promises. Their families will never know peace, bastards.

AfonjaStinks:


BUHARI

YOU WILL NEVER GO UNPUNISHED

mamabomboy:
God will punish Kachikwu and Buhari for the many lies and false promises. Their families will never know peace, bastards.

AfonjaStinks:


HOW WAS THE DEBT INCURRED ??

WHAT WAS THE MONEY USED FOR ??

THIS RAT JUST RUINED THIS COUNTRY IN LESS THAN 2 YEARS

BUHARI

YOU WILL NEVER GO UNPUNISHED

Nigeria has reached an outline settlement to resolve a protracted dispute with western energy companies, under which the groups will be paid $5bn to cover exploration and production costs in Africa’s biggest oil-producing nation.

Royal Dutch Shell, ExxonMobil, Eni, Chevron and Total have signed deals relating to this settlement of costs incurred between 2010 and 2015, as they also seek to forge new financing arrangements for their joint ventures in Nigeria....

three:
hmmm



So PMB and Budget Office Pegged Oil Output on Peak Levels, Who's being overtly optimistic here?! The 2017 Budget is literally DOA!!!

AfonjaStinks:


HOW WAS THE DEBT INCURRED ??

WHAT WAS THE MONEY USED FOR ??

THIS RAT JUST RUINED THIS COUNTRY IN LESS THAN 2 YEARS

BUHARI

YOU WILL NEVER GO UNPUNISHED

mamabomboy:
God will punish Kachikwu and Buhari for the many lies and false promises. Their families will never know peace, bastards.

xaliujokes:
debt is bad

mamabomboy:

http://uk.mobile.reuters.com/article/idUKL5N1EA2SC?rpc=401&

Chiefpriest1:
It's easy to stay in Abuja or Lagos and make projections on a natural resource found in people's backyard.

I used to ask myself, ' what do these Niger Delta people want sef', but until you are personally involved, you don't know the pains.

You cannot not take a trillion naira from my backyard in less than six months and not be able to plow back just N100billion for the development of that area.

And before you start talking about derivation funds, these people do not have access to one percent of the funds because even the law setting it up is routinely broken to please politicians.

When you bring a semblance of development to the area, then some of these militants who break oil facilities will become powerless because even their people will start asking them questions.

If you are in Gbaramatu in delta for example and you fall sick at night, its either you die before daybreak or risk going through the waterways at midnight.

Why can't the federal government build a hospital for these people or at least build a bridge to the area to reduce the journey from about two and a half hours to less than 30 mins.

Why can't they embark on a housing programme for the coastal areas of the Niger delta because shelter is a big issue there from my observation.

And I am not talking about bug mansions, just two rooms each. By the way, they are not even that populated. Its only during elections that they manufacture millions of voters from the areas.

The issues are not as complicated as people think. We just need leaders wey deir head correct.