It is reported that Nigeria currently exports 2.2 million barrels of crude oil daily at $65 per barrel. 143 million dollars daily and about 54 billion naira daily at the exchange 380 naira to a dollar. For the year, it translate to 54 X 365 = 19.7 trillion naira. This is still quite a lot though smaller than my previous estimate of 54 trillion due to errors in calculation.

How much does Nigeria realize as gross profit from it? This government is making so much sales and yet they say there is no money. Can someone please explain to us where all the monies goes to.

Corrected

No one is buying crude at the moment

TruthinAction:
It is reported that Nigeria currently exports 2.2 million barrels of crude oil daily at $65 per barrel. 143 billion naira daily and about 52 trillion naira annually. How much does Nigeria realize as gross profit from it? This government is making so much sales and yet they say there is no money. Can someone please explain to us where all the monies goes to.

To thier private packets !

TruthinAction:
It is reported that Nigeria currently exports 2.2 million barrels of crude oil daily at $65 per barrel. 143 billion naira daily and about 52 trillion naira annually. How much does Nigeria realize as gross profit from it? This government is making so much sales and yet they say there is no money. Can someone please explain to us where all the monies goes to.

With the false information u got there, u ll bring BP to yourself. Its not wrong to ask but base on facts.

TruthinAction:
It is reported that Nigeria currently exports 2.2 million barrels of crude oil daily at $65 per barrel. 143 billion naira daily and about 52 trillion naira annually. How much does Nigeria realize as gross profit from it? This government is making so much sales and yet they say there is no money. Can someone please explain to us where all the monies goes to.

Who ever taught u mathematics needs to go to jail

Now let me help u

Nigeria produce 2.2 million barrels a day right ?
Price of crude oil today is $45 dollars

But it cost Nigeria average of $20 dollars to produce each barrels ...so we make a profit of $25 per Barrels

Now oil companies that invested owns 45% percent of that profit , from their they pay staff and other thing tho we still tax them on that say we get around 65%

So how much we make in a day is (45 - 20)(0.65)(2200000) = 35,750,000 million dollars ...oil producing states gets 13% of that's

So we are left with 31.1 million dollars ...cbn would exchange that at 380...that would give u 11.8 billion a day

In 30 days 354.6 billion ....that seems big right ...but divide it by 200 million

That gives u 1,772 ...what can 1800 do for u in a whole month

Even tho I believe Nigeria population is around 100 million ...in real numbers what can 3600 a month do for u

So the oil money na like 1772 per head ooh

If we all averagely contribute 10,000 e go better to work for us than crude oil ...that's why igbos are sure their Biafra go work

Igbos are ready to pay tax of 20k each a month to their Biafra

To the place where badly educated people with poor English language skills go .

Igbochief001:

Who ever taught u mathematics needs to go to jail

Now let me help u

Nigeria produce 2.2 million barrels a day right ?
Price of crude oil today is $45 dollars

But it cost Nigeria average of $20 dollars to produce each barrels ...so we make a profit of $25 per Barrels

Now oil companies that invested owns 45% percent of that profit , from their they pay staff and other thing tho we still tax them on that say we get around 65%

So how much we make in a day is (45 - 20)(0.65)(2200000) = 35,750,000 million dollars ...oil producing states gets 13% of that's

So we are left with 31.1 million dollars ...cbn would exchange that at 380...that would give u 11.8 billion a day

In 30 days 354.6 billion ....that seems big right ...but divide it by 200 million

That gives u 1,772 ...what can 1800 do for u in a whole month

Even tho I believe Nigeria population is around 100 million ...in real numbers what can 3600 a month do for u

So the oil money na like 1772 per head ooh

If we all averagely contribute 10,000 e go better to work for us than crude oil ...that's why igbos are sure their Biafra go work

Igbos are ready to pay tax of 20k each a month to their Biafra

Thanks for your correction but Google search says that crude oil sales is currently at $65 per barrel. If we work with that, I think the figures will change. Please confirm and redo your calculation.

TruthinAction:


Thanks for your correction but Google search says that crude oil sales is currently at $65 per barrel. If we work with that, I think the figures will change. Please confirm and redo your calculation.

Even with a 50% increase it won't change much

That's around 2600 per head a month

U pay civil service from that , pay police �, army , pay lectures ...lol what's left ,?

Igbochief001:

Even with a 50% increase it won't change much

That's around 2600 per head a month

U pay civil service from that , pay police �, army , pay lectures ...lol what's left ,?

What happens to LNG and IGR + other solid minerals?

Kamanuozuzu:


What happens to LNG and IGR + other solid minerals?

Not much won't be up to 20% of oil revenue

Igbochief001:

Even with a 50% increase it won't change much

That's around 2600 per head a month

U pay civil service from that , pay police �, army , pay lectures ...lol what's left ,?

OK. We still make a lot of money from taxes, from our ports. I also know that there is stealing going on in NNPC. What they tell us is not what is really happening. The monies our leaders squander shows there is much money in this country. They should just try and be transparent. Messiah is coming one day.

TruthinAction:


OK. We still make a lot of money from taxes, from our ports. I also know that there is stealing going on in NNPC. What they tell us is not what is really happening. The monies our leaders squander shows there is much money in this country. They should just try and be transparent. Messiah is coming one day.

how much do we make

We bought Cows from Mali and Niger Republics. We build Universities for COAS(ARMY & AIR FORCE). We build University for Transport in Katsina. We organise Miyetti Allah FH into a formidable force to counter Afenifere Ohaneze and Ortom group.. Omafiele, Alamisegha and Ibori's Compatriots helped us.

Stollen by your brothers, governor's, militants, plus NDDC some goes to pastor's

Igbochief001:
how much do we make

Will they disclose it? A larger percentage of internally generated revenue goes to private pocket. It also depends on the integrity of the person heading the agency. The new boss of JAMB few months ago declared an income in billions within the same period the previous boss declared a few millions. Virtually all agencies cheat on the government to a very large degree. A wedding that took place recently in the north had dignitaries coming with about 30 private Jets. My brother, there is money in this country. It is just in the hands of very few. But all these will end one day.

TruthinAction:


Will they disclose it? A larger percentage of internally generated revenue goes to private pocket. It also depends on the integrity of the person heading the agency. The new boss of JAMB few months ago declared an income in billions within the same period the previous boss declared a few millions. Virtually all agencies cheat on the government to a very large degree. A wedding that took place recently in the north had dignitaries coming with about 30 private Jets. My brother, there is money in this country. It is just in the hands of very few. But all these will end one day.

We make less than oil money that's for sure