Nigeria’s earnings from oil production and sales in the 27 months Pres. Buhari has been in office is far less than what the previous government led by ex-president GEJ earned in one year, Daily Sun is reporting.

Since the Buhari government came to power, oil price has been in the all-time low, to the extent that a barrel of oil once sold for $27. Previous oil price peaked at $120 per barrel once, during the GEJ’s government.

According to figures from OPEC on Nigeria’s oil earnings since 2010 till date, the Buhari government has raked in $58 billion since coming to office. The statistics showed that the Jonathan government earned a total of $453.5 billion between 2010 and 2015.

Read More below:
http://www.tipsissuesonline.com/2017/08/buhari-earns-58bn-in-27-months-to-gejs.html

Source: Daily Sun

Ok
Be right Back.

Where are the Zone-B's

GEJ is the biggest scam Nigeria ever experienced.

Just imagine what Nigeria could have achieved if even half of that amount was put into good use

Can you people kindly tell us how many billions of our dollars he has spent in London hospital since he came into power

Let the good work reflect on the lives of Nigerians..


We are tired of paper progress.


People living in that country are having a hard time every single day .

Pierocash:
GEJ is the biggest scam Nigeria ever experienced.

Then what will you say about the kunu drunkard with a budget of 7 trillion.

FearGodinall:
Then what will you say about the kunu drunkard with a budget of 7 trillion.

how is he a drunkard for that if the budget was any lower Nigeria might never get out of recession that is even still too small to revitalize the economy

how is this GEJ fault?? this even shows the sloppiness of this Buhari government!!!

urboy1:
how is this GEJ fault?? this even shows the sloppiness of this Buhari government!!!

how is this GEJ fault?


look at the two amounts n then reflect and see if u can ask that question again.

Okoroawusa:

how is this GEJ fault?


look at the two amounts n then reflect and see if u can ask that question again.

Okoroawusa, please read about it before commenting.. here are the reasons why there was a drop in sales of products..
1) the decline in oil revenue relative to the budget estimate was attributed to the persistent fall in receipts from crude oil and gas export, due to the continuous drop in the price of crude oil in the international market (who takes the fault for Budget estimation?)
2) as well as series of shut-ins and shut-downs at some NNPC terminals owing to pipeline vandalism and repairs during the review quarter. (Who is responsible for fixing the relationship with the niger delta people?)
3) China has stopped buying our oil, what did this government do to keep them? did this government find a replacement? Kachikwu boasted on 29 Dec 2015 that the USA will resume buying the oil, did they?

So how is the drop in sales GEJs fault? when this clearly shows the incompetence of the govt...

Read more at: https://www.vanguardngr.com/2016/06/nigerias-oil-earnings-dip-34-1-q1-16/

...

urboy1:

Okoroawusa, please read about it before commenting.. here are the reasons why there was a drop in sales of products..
1) the decline in oil revenue relative to the budget estimate was attributed to the persistent fall in receipts from crude oil and gas export, due to the continuous drop in the price of crude oil in the international market (who takes the fault for Budget estimation?)
2) as well as series of shut-ins and shut-downs at some NNPC terminals owing to pipeline vandalism and repairs during the review quarter. (Who is responsible for fixing the relationship with the niger delta people?)
3) China has stopped buying our oil, what did this government do to keep them? did this government find a replacement? Kachikwu boasted on 29 Dec 2015 that the USA will resume buying the oil, did they?

So how is the drop in sales GEJs fault? when this clearly shows the incompetence of the govt...

Read more at: https://www.vanguardngr.com/2016/06/nigerias-oil-earnings-dip-34-1-q1-16/

I dnt want to argue.

Okoroawusa:

I dnt want to argue.

There is no need to argue bro!!! If there are any other reasons why there was a drop in sales, do tell? I want to learn... because I dont think this point should be an achievement by this govt, it just shows laziness to say the least..Angola as at this month experienced a 13-month high in productions and sales.. what are they doing right?.. and why is ours still falling?
and I have to make it clear too that, our debt profile is over the roof, so dont think we survived on that 58Billion as you stated..

urboy1:

There is no need to argue bro!!! If there are any other reasons why there was a drop in sales, do tell? I want to learn... because I dont think this point should be an achievement by this govt, it just shows laziness to say the least..Angola as at this month experienced a 13-month high in productions and sales.. what are they doing right?.. and why is ours still falling?
and I have to make it clear too that, our debt profile is over the roof, so dont think we survived on that 58Billion as you stated..

I'm just a little bit curious....

1. IF the report of $453billion vs $58billion is really true, do you really think this your argument about the amount of money borrowed by this govt to supplement that $58billion makes any logical or mathematical sense?.... How much in total has the govt borrowed so far to make you think it is reasonable to compare 453 vs 58?

2. I guess you are among those who think the current government is being stupid and incompetent for borrowing so much in order to keep the nation going?... Just kindly take a look at the chart below which shows the nation's debt profile from 2008. In that chart, I see an almost similar upward slope in the debt figures between 2010-2015 and between 2015-2017.

Now if the current govt that has received $58billion thinks it is necessary to borrow (to keep the nation afloat), for what reason exactly was the last govt which received $453billion borrowing? What was the borrowed funds used for?

While we might feel a need to criticise government and destructively castigate the government of the person we hold a contempt for, we sometimes should just try and be fair in our judgements.

By the way, I agree with you that some actions of the govt led to escalation of hostilities in the Delta region which led to a more than 50% cut in production levels. But even at that, do you still think 58 is comparable to 453?

obailala:


I'm just a little bit curious....

1. IF the report of $453billion vs $58billion is really true, do you really think this your argument about the amount of money borrowed by this govt to supplement that $58billion makes any logical or mathematical sense?.... How much in total has the govt borrowed so far to make you think it is reasonable to compare 453 vs 58?

2. I guess you are among those who think the current government is being stupid and incompetent for borrowing so much in order to keep the nation going?... Just kindly take a look at the chart below which shows the nation's debt profile from 2008. In that chart, I see an almost similar upward slope in the debt figures between 2010-2015 and between 2015-2017.

Now if the current govt that has received $58billion thinks it is necessary to borrow (to keep the nation afloat), for what reason exactly was the last govt which received $453billion borrowing? What was the borrowed funds used for?

While we might feel a need to criticise government and destructively castigate the government of the person we hold a contempt for, we sometimes should just try and be fair in our judgements.

By the way, I agree with you that some actions of the govt led to escalation of hostilities in the Delta region which led to a more than 50% cut in production levels. But even at that, do you still think 58 is comparable to 453?

Nice one Obailala
1) firstly its 453 spread into 5years...meaning (453/5)*2=181B vs 58B sales in products. this means that without the points I made earlier, we probably would have gotten an amount close to the sales in GEJ's 2years... (agreed?) (and if I have to be cheeky, I can argue that 58B dollars in Naira in 2017 is about 181B dollars in Naira 2years ago.. I mean given salaries have not even increased...-->just ignore this..lol)
2) but before we commend the government for maintaining us with this oil sales of 58B.. we must point out what the fall in sales has done to us.
a) almost 6Million people lost there jobs,..
b) the foreign reserve depleted
c) many companies backed up
d) recession
3) about Borrowing.. I cant really defend the past administration as per say, but one thing was certain, there was infrastructural development then..from airports to railway to universities.. did they do enough.. not really.. but it was visible. I mean i can point with my fingers where some money was spent!!!
compare that to now. where we are told everyday that the borrowing is for capital projects.. infact Osinbajo stated that we have spent 1.3B dollars on capital projects. (where?)...

4) I am only pointing out that if the needful was done in time, would we be in the dilemma we are now? and I dont think bragging about sustaining a recession (which could have been clearly avoidable) is an achievement.. you get?
5) I will commend this good gov, if they do the right things...