Gerrard59:


Seplat, Eland, Seven Energy etc.

Jimi24:
Buhari will give their oil block to the Russians. Chevron is owing Nigeria a big percentage of the $61bn the oil majors are owing Nigeria and they got to pay before they leave.
Of you think it is Buhari 's policies chasing away a rapacious, cheating and selfish global company that cheated Nigeria during tue era of the most cluelessly corrupt govt in.Nigeria then it is inferiority complex worrying you

Adewale623:
it's a good news for Nigerians, let DANGOTE refinery take over from them.

weslay:
Chevron is pulling out because it is no longer in their best interest to operate in Nigeria.
Do we have Nigerian firms that can sufficiently take over their operations?
For a country that still rely on other countries to fix it's roads, I doubt.
Our leaders need to realize that oil will not be here forever. They need to wake up and take adequate actions because the socioeconomic crisis in Venezuela will be child's play when our wells run dry.

alwaysvik:


Yenyenyenyen truly educated my ass. Please say what you know.

NNPC has a 60/40 sharing formula with every single oil company operating in Nigeria. It's called a JV for that reason. So for every dollar Chevron makes, NNPC takes 60 cents our of it. The real question is: what happens to that 60 cents? Can Nigeria account for that money? How many jobs are realistically given on merit at NNPC? what is the state of the refineries operated by NNPC? Has NNPC developed enough to independently manage and operate the oil fields? These are begging questions.

Chevron has a merit-based recruitment procedure for the most part (even though man know man still operates in small pockets). Chevron is accountable, at least to the US government and their shareholders. One of the best-managed businesses is about to leave the country, leaving a large trail of stranded employees, with no national company big enough to take them in and someone is typing rubbish from their ass about Nigeria benefiting.

Here's what might happen - Chevron will sell offshore and onshore assets to the highest bidder. I won't be surprised if NNPC buys some of it and then mismanages it like all other national assets. Or even sell it to another single highest bidder like Otedola or Dangote the same way theý broke NEPA into 11 DISCOS and one person bought 7 of them.

Nigeria is in trouble, the signs aren't good.

Gerrard59:


Seplat, Eland, Seven Energy etc.

iamJ:
Google aramco


It's a nationally owned oil company


Stop depending on whites


It's 2019 not 1929


All these companies were taking our money elsewhere


Better they left self

johnmattew:
that company is bigger than apple, Microsoft and Google together

iamJ:
Google aramco


It's a nationally owned oil company


Stop depending on whites


It's 2019 not 1929


All these companies were taking our money elsewhere


Better they left self

kes4glory:



Seven energy is a British independent film

fashrola:


Paying crumbs to workers......

Gerrard59:


My bad, I thought it was Nigerian owned.



Companies don't pay her employees more than they generate.

Charmingrascal:
For those who are truly educated and know economics and know what we stand to gain as a country




























This is a good news

iamJ:
Google aramco


It's a nationally owned oil company


Stop depending on whites


It's 2019 not 1929


All these companies were taking our money elsewhere


Better they left self

Madas1986:
Not yet happy until your family leave Nigeria too

NothingDoMe:
But aramco is run by whites

johnmattew:
it's not hard to know illiterates....ur dumbness couldn't discern that his move by chevron is a good one for dangote and local investors

AK481:


And the new company don’t have their already existing managers abi?

They will operate with 2 md,2 svp, and also pay chevron staff the same salary abi?

iamJ:
Google aramco


It's a nationally owned oil company


Stop depending on whites


It's 2019 not 1929


All these companies were taking our money elsewhere


Better they left self

fashrola:


U think?

That's a wrong assumption... especially when it comes to Indigenous companies


Let's use maritime firms as case study...

Let's say Company XYZ (Nigerian company) has two security boats with 5 years contract with Total and daily charter rate is $12k and the captain is paid 800k per month without other allowances

Then company ZYX (Foreign Company) is paying more tax and other fees to Nigerian government than it's counterpart.. has the same number of boat or even one with daily charter rate of $9k and the captain is paid N2.3 million per month with lot of benefits as an employee

Note: This is a true reflection of what is happening in the maritime sector

So what are you trying to say?

onlyforchrist:


Really nigga? cover your face. Facebook alone will buy Chevron 5 times over. Apple is the biggest and most valuable company in the world with over $1T USD worth. Chevron is $230B worth.

Gerrard59:


One can argue:

- That the foreign firm employs less number of people than the local firm.


You know that some local companies does not have an organized organization structure, some employees are working out of their job scope


- The interest rate paid by the local firm to financial institutions is higher than her foreign counterpart.

You sef know this ain't true.... Foreign companies pay more than local companies

- The taxes paid by local firm is high for her considering she doesn't have a superior office to support operations.

This ain't true rather

- The negotiating power by the employee prior to employment and other factors.

Although, I'm not in the maritime industry but those can be other factors for the difference in remuneration.

johnmattew:
I'm talking about Saudi Aramco