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Nairaland Forum / Nairaland / General / Politics / Nigeria’s Crude Oil Earnings Have Reached ₦12.4 Trillion In 11 Months (4834 Views)
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Nigeria’s Crude Oil Earnings Have Reached ₦12.4 Trillion In 11 Months by BrandSpurNG: 9:11pm On Jan 06, 2022 |
Between January and November 2021, Nigeria produced 440.774 million barrels of crude oil worth approximately N12.4 trillion, according to an analysis of the most recent oil production data released by the Federal Government. https://brandspurng.com/2022/01/06/nigerias-crude-oil-earnings-have-reached-n12-4-trillion-in-11-months/ 1 Like
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Re: Nigeria’s Crude Oil Earnings Have Reached ₦12.4 Trillion In 11 Months by KeenD: 9:30pm On Jan 06, 2022 |
Guy please where does all these money go 5 Likes 1 Share |
Re: Nigeria’s Crude Oil Earnings Have Reached ₦12.4 Trillion In 11 Months by Truthisunique: 9:35pm On Jan 06, 2022 |
Wetin una dey do with the money Tax don double Vat don double Yet na civil servants una con dey retrench 4 Likes 1 Share |
Re: Nigeria’s Crude Oil Earnings Have Reached ₦12.4 Trillion In 11 Months by Truthisunique: 9:36pm On Jan 06, 2022 |
Wetin una dey do with the money Tax don double Vat don double Abacha loot don double Yet na civil servants una con dey retrench 3 Likes |
Re: Nigeria’s Crude Oil Earnings Have Reached ₦12.4 Trillion In 11 Months by malcom1X: 9:36pm On Jan 06, 2022 |
How does it affect prices in the market? |
Re: Nigeria’s Crude Oil Earnings Have Reached ₦12.4 Trillion In 11 Months by JAMO84: 9:36pm On Jan 06, 2022 |
For proper context: South Africa, 55 million people, annual budget - $50b Nigeria, 200 million people, annual budget, $30b While the money quoted up there might be much for Ghana, it's actually a chicken feed for NIGERIA. DO WHATEVER YOU WANT WITH MY INFORMATION 11 Likes 1 Share |
Re: Nigeria’s Crude Oil Earnings Have Reached ₦12.4 Trillion In 11 Months by Iliveforever(m): 11:29pm On Jan 06, 2022 |
Please can you name just 2 things to show for it? |
Re: Nigeria’s Crude Oil Earnings Have Reached ₦12.4 Trillion In 11 Months by McLizbae: 11:30pm On Jan 06, 2022 |
Audio money... If all these will ever be audited and probed, that day may be bigger than the judgement day. |
Re: Nigeria’s Crude Oil Earnings Have Reached ₦12.4 Trillion In 11 Months by lexy2014: 11:30pm On Jan 06, 2022 |
JAMO84: How has Nigeria spent it's $30b? 3 Likes |
Re: Nigeria’s Crude Oil Earnings Have Reached ₦12.4 Trillion In 11 Months by aribisala0(m): 11:34pm On Jan 06, 2022 |
Oil cost money to bring out of the ground and the cost in Nigeria is one of the highest in the world. Earnings are not the same as profit Profit has to be shared with the Oil companies 2 Likes |
Re: Nigeria’s Crude Oil Earnings Have Reached ₦12.4 Trillion In 11 Months by letitrainnow(m): 11:36pm On Jan 06, 2022 |
Develop URGENTLY the Country. Knowledge is information, understanding is analysis, and wisdom is application. People are detained or stagnant in life because they are not detailed. You need understanding to know what to do to step out to the next level. - Bishop David Abioye ...check my signature now for the way forward. 1 Like |
Re: Nigeria’s Crude Oil Earnings Have Reached ₦12.4 Trillion In 11 Months by Siberia01(m): 11:36pm On Jan 06, 2022 |
Davido can easily cough out such amount With $30 billion in his account We have actresses that can easily fund our nation's budget But why can't we just swallow our pride and borrow from this actresses |
Re: Nigeria’s Crude Oil Earnings Have Reached ₦12.4 Trillion In 11 Months by Akwamkpuruamu: 11:37pm On Jan 06, 2022 |
Yet Buhari keeps borrowing as if there's no tomorrow. So where are all these trillions |
Re: Nigeria’s Crude Oil Earnings Have Reached ₦12.4 Trillion In 11 Months by slivertongue: 11:37pm On Jan 06, 2022 |
So we should eat figures? Will it stop Buhari from borrowing? |
Re: Nigeria’s Crude Oil Earnings Have Reached ₦12.4 Trillion In 11 Months by Akwamkpuruamu: 11:38pm On Jan 06, 2022 |
KeenD: Zonebs should answer us and tell us the rationale for all the arrant and reckless Buhari borrowings, cos this is almost enough to fund the yearly national budget not including FIRS returns and customs returns tooo |
Re: Nigeria’s Crude Oil Earnings Have Reached ₦12.4 Trillion In 11 Months by Akwamkpuruamu: 11:39pm On Jan 06, 2022 |
JAMO84: What is the moral justification for Buharis reckless Borrowings? |
Re: Nigeria’s Crude Oil Earnings Have Reached ₦12.4 Trillion In 11 Months by EMIRofPUSSY: 11:40pm On Jan 06, 2022 |
As usual and JAMO84 would still come and blame PDP. 1 Like |
Re: Nigeria’s Crude Oil Earnings Have Reached ₦12.4 Trillion In 11 Months by Xman12345goat: 11:54pm On Jan 06, 2022 |
Nigeria produces an average of 1.08 million barrels of oil a day. Multiply it by $60 and you will see that Nigeria makes more than the figure above 1 Like |
Re: Nigeria’s Crude Oil Earnings Have Reached ₦12.4 Trillion In 11 Months by mountmoriah(m): 11:55pm On Jan 06, 2022 |
Truthisunique:snake dey swallow am |
Re: Nigeria’s Crude Oil Earnings Have Reached ₦12.4 Trillion In 11 Months by NSNA: 12:26am On Jan 07, 2022 |
12.4 Trillion Naira to dollars is 30,021,305,200.00 United States Dollar |
Re: Nigeria’s Crude Oil Earnings Have Reached ₦12.4 Trillion In 11 Months by Ovamboland(m): 12:44am On Jan 07, 2022 |
BrandSpurNG: Very wrong and unprofessional report. The FG did not earn 12.4 trillion from crude oil sales. The figures bandied in this report is the gross value of crude oil sold from our daily production. The International Oil companies will take out production cost which is about $20 per barrel out of $54 average price in January, then their finance cost, profit margin etc. The 924bn sales in January might not net the FG more than 300bn at the end. 5 Likes 2 Shares |
Re: Nigeria’s Crude Oil Earnings Have Reached ₦12.4 Trillion In 11 Months by Ovamboland(m): 12:45am On Jan 07, 2022 |
JAMO84: South African budget is over $130bn a year, can't be $50bn 1 Like |
Re: Nigeria’s Crude Oil Earnings Have Reached ₦12.4 Trillion In 11 Months by Ovamboland(m): 12:56am On Jan 07, 2022 |
lexy2014: $30bn is 41cents daily for each Nigerian, about 205 naira. Now what can you achieve with 205 naira daily? If not much, how do you expect politician to help you spend it to deliver world class healthcare, education and infrastructure for all? 2 Likes 1 Share |
Re: Nigeria’s Crude Oil Earnings Have Reached ₦12.4 Trillion In 11 Months by Ovamboland(m): 12:58am On Jan 07, 2022 |
Xman12345goat: Do the maths and supply your results |
Re: Nigeria’s Crude Oil Earnings Have Reached ₦12.4 Trillion In 11 Months by PoliteActivist: 1:16am On Jan 07, 2022 |
JAMO84: USA, 300 million people, annual budget, $7 trillion Why is this world so unequal?? |
Re: Nigeria’s Crude Oil Earnings Have Reached ₦12.4 Trillion In 11 Months by FarahAideed: 1:17am On Jan 07, 2022 |
With nothing to show for it |
Re: Nigeria’s Crude Oil Earnings Have Reached ₦12.4 Trillion In 11 Months by brandsoncharlie: 1:50am On Jan 07, 2022 |
aribisala0:. Do you know what goes into earnings, a simple example is the pay slip of a worker if you have seen one. Earnings is simply after all deductibles e.g taxes or whatever. Nigeria earnings is after all deduction of any deals or agreements. Profits is shared how? , have you gone through the contract between both parties? 1 Like |
Re: Nigeria’s Crude Oil Earnings Have Reached ₦12.4 Trillion In 11 Months by aribisala0(m): 2:00am On Jan 07, 2022 |
brandsoncharlie:Shut up The worst kind of ignoramus is the one that believes he knows when he knows nothing Earnings is the same as revenue Nigeria /NNPC operates a JV with the oil majors. Whatever the contract thy must get a share of the profit which is the difference between revenue and expenses According to the figures in the report about 440 million barrels of oil were sold for around $60 which at an exchange rate of 500 is about 13 trillion Naira roughly. This is a gross figure before any deductions The official exchange rate is less than 500 and that would bring it closer to the 12 trillion figure. Of that how much is profit and of that how much goes to the oil companies. The oil companies are not charities they are in it for profit Mele Kyari is on record as saying it cost $17 to produce a barrel of oil in Nigeria |
Re: Nigeria’s Crude Oil Earnings Have Reached ₦12.4 Trillion In 11 Months by Cognitivereason: 2:19am On Jan 07, 2022 |
DAT not how it works.. The cost of extracting the oil has to be subtracted.. Also..The oil companies are the ones making the most money..they pay royalties and taxes to the government Xman12345goat: |
Re: Nigeria’s Crude Oil Earnings Have Reached ₦12.4 Trillion In 11 Months by Amen2021: 2:23am On Jan 07, 2022 |
KeenD:at least 40 to 50%, goes to the oil companies, of the remainder, FG takes 52%,states 25%,local governments 20%,after removing 13% for oil producing states. |
Re: Nigeria’s Crude Oil Earnings Have Reached ₦12.4 Trillion In 11 Months by Cognitivereason: 2:29am On Jan 07, 2022 |
Technically Nigeria now spends nearly $40bn.. If u convert the recent N17 trillion budget to dollar using the new I&E exchange rate (435 per dollar) u get around $39bn.. JAMO84: |
Re: Nigeria’s Crude Oil Earnings Have Reached ₦12.4 Trillion In 11 Months by Dialpad: 3:05am On Jan 07, 2022 |
How much is that in US Dollars |
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