More than 70% of that was used to pay salary

Before you start shouting at only the Federal Govt, remember that your state govt and local govt also collected from it. so shout on everybody.

Okay NBS I absolutely welcome this your mind boggling figures, however I will respect you more and even throw a party for you if you can come up with further statistics on how these funds have helped our infrastructure or the common man!

Niger Delta Oil

aolawale025:
Nigeria has nothing to show for it. Had the civilian government been allowed to go on, nigeria would have been like Europe today

You mean military?

Shame

.,

baralatie:
The Nigerian Federal govt got for annual

receipts=#33.28÷53 years

that is =#0.63 trillion per year that is #630 billion

ode, na so dem dey calculate am abi

tolexy123:
ode, na so dem dey calculate am abi

calculate you own here and let us see if oil receipts are the way some think it is

felixomor:

Is GEJ also responsible for the corruption Kachikwu exposed some days back in the NNPC?

Also, take note This president is not new.
Its 2 years plus now.

is jubrin not new?
Nonsense

nairaman66:


You mean military?

nothing to show for the huge cash since 1986 to 2014

Jesusloveyou:
is jubrin not new?
Nonsense

Receive sense.
Amen

olaolulazio:
Where's the money?

In the pockets of the rulers ..who are rogues and thieves in power ..aren't you see their mansions at home and abroad..many of them won't die well

yanshDoctor:
N108 trillion or $108 trillion?

if its the first then that figure is not correct.


and according to World Bank, Nigeria only need $15 trillion to become a developed country.

but we have made over $35-40 trillion so far from oil alone.


maybe the inflation margin then and now also played a role in this calculation.

Where do you have such amount of money in dollars from?
Hope is not form uncle 'Lai'
Trillion dollars?

blogbuilder:
The National Bureau of Statistics says Nigeria has realised more than N 118 tn from crude production and refining from 1961.
The NBS report , which has additional data from the Nigerian National Petroleum Corporation, collated its statistics from 1961 till 2014 .
“The petroleum statistics on crude oil production and oil refining reflects that a total 32 . 70 billion barrels of crude oil valued at N118 . 49 tn has been produced between 1961 and 2014 .
“The highest barrels of crude production was recorded in the year 2005 with 918 .66 million barrels valued at N6 .14 bn .
“The lowest was, however , recorded in 1961 with 16 .80 million barrels valued at N 18 . 73 m “The yearly domestic crude oil refining data from 1997 to 2014 also reflected that 844 .19 million of crude oil has been received and 835 .58 million processed within the period under review, ’’ the report stated .
( NAN )
source: http://punchng.com/nigeria-realises-n118tn-in-53-years-from-crude-oil-nbs/

That's a mere 6.5 billion dollars per year, that's poverty @ it's peak.


Nigeria's greatest wahala remains lack of funds due to an inability to utilize all her natural resources.

yanshDoctor:
N108 trillion or $108 trillion?

if its the first then that figure is not correct.


and according to World Bank, Nigeria only need $15 trillion to become a developed country.

but we have made over $35-40 trillion so far from oil alone.


maybe the inflation margin then and now also played a role in this calculation.

#118 trillion naira not dollars, it's impossible for Nigeria to have made 35-40 trillion dollars from selling oil when the US budget is about 2 trillion dollars a year.

blogbuilder:
The National Bureau of Statistics says Nigeria has realised more than N 118 tn from crude production and refining from 1961.
The NBS report , which has additional data from the Nigerian National Petroleum Corporation, collated its statistics from 1961 till 2014 .
“The petroleum statistics on crude oil production and oil refining reflects that a total 32 . 70 billion barrels of crude oil valued at N118 . 49 tn has been produced between 1961 and 2014 .
“The highest barrels of crude production was recorded in the year 2005 with 918 .66 million barrels valued at N6 .14 bn .
“The lowest was, however , recorded in 1961 with 16 .80 million barrels valued at N 18 . 73 m “The yearly domestic crude oil refining data from 1997 to 2014 also reflected that 844 .19 million of crude oil has been received and 835 .58 million processed within the period under review, ’’ the report stated .
( NAN )
source: http://punchng.com/nigeria-realises-n118tn-in-53-years-from-crude-oil-nbs/

Now Wher d hell is our pfucking money?

2151.

can this be tru...?No this is not tru...since dieziani ma duckweed stole more than 300trillion according to the APC

Too small. The truth remains that our oil proceeds is mostly unaccounted and this figure might be just 30 to 50% of the actual revenue.

Tolexander:
so unfortunate that the large percentage of this amount has been stolen by less than 5% of the population

I think it's even less than 0.08%.

I think the OP meant $118 trillion because that amount in Naira is too small for Naija

OyiboOyibo:
US army budget 4 a yr is $1trillion n Nigeria made 118ttillion 4rm oil in 53yrs....wat a poor country

If half of dat money was re invested in other sectors like Agriculture, Manufacturing, Power, infrastructure, Transportation, tourism, health care, we would have been one of the most developed country in the world

most european countries do not even have oil

infact most countries do not even have oil

Netherlands make more from agriculture in a year than we do from oil, and hectres of land they are using, is roughly the d size of one state in Nigeria.

we have 11 million hectres of farmable land, and we re using just 250,000

No country that has our resources face d kind of problems we face in the whole world

So where is the money now Possibly in foreign account of our greedy politifians

blogbuilder:
The National Bureau of Statistics says Nigeria has realised more than N 118 tn from crude production and refining from 1961.
The NBS report , which has additional data from the Nigerian National Petroleum Corporation, collated its statistics from 1961 till 2014 .
“The petroleum statistics on crude oil production and oil refining reflects that a total 32 . 70 billion barrels of crude oil valued at N118 . 49 tn has been produced between 1961 and 2014 .
“The highest barrels of crude production was recorded in the year 2005 with 918 .66 million barrels valued at N6 .14 bn .
“The lowest was, however , recorded in 1961 with 16 .80 million barrels valued at N 18 . 73 m “The yearly domestic crude oil refining data from 1997 to 2014 also reflected that 844 .19 million of crude oil has been received and 835 .58 million processed within the period under review, ’’ the report stated .
( NAN )
source: http://punchng.com/nigeria-realises-n118tn-in-53-years-from-crude-oil-nbs/

Where is lie muhammed

oladeebo:
All what I read here is complain complain less, give your opinion the matter!
The reason why the money is not develop Nigeria is this:
out of this ₦108 trillion generated, 70% went to recurrent expenditure(cost of governance & public civil servants) which in total not exceed 30%
30% went to capital expenditure(70% of Nigeria population) and 20% of it is stolen.
and you people said we should blame system for that not politicians!
hilarious.

be kind to the English language,sir

oladeebo:
All what I read here is complain complain less, give your opinion the matter!
The reason why the money is not develop Nigeria is this:
out of this ₦108 trillion generated, 70% went to recurrent expenditure(cost of governance & public civil servants) which in total not exceed 30%
30% went to capital expenditure(70% of Nigeria population) and 20% of it is stolen.
and you people said we should blame system for that not politicians!
hilarious.

My brother 80% was stolen, how many times do our government pay workers?

Rolly22:


My brother 80% was stolen, how many times do our government pay workers?

the running of bureaucracy engulfed the substantial amount yearly, apart from, salary and looting!