Analysis as given by Falana on Channelstv: (1) Crude Oil productn/day =2.5M barrels. (2)Current price = $113/barrel. (3)Daily Sales =2.5M x 113 = $282.5M (4)Monthly Sales =$282.5M x 30days = $8.475billion (5)Yearly Sales= $8.475billion x 12 = $101.7billion (6)Naira Equivalent = 101.7billion x 160 = 16.272trillion naira per year. (7)Nigeria's budget for 2012 = 4.5trillion naira. >>WHAT WILL HAPPEN T0 THIS SURPLUS?

I want to rest in peace.. Don't remind me of this now... #fainting mode activated#

make we hear word , yorubas are only good at complaining as if all these started today , when its time to take the bull by the horn and cut the dragons throat or uproot the weed from the soil they will disappear or sabotage it.

being a human right activist or opposing curruption or incompetency cannot be solved by writting articles and shouting about it on social media(ask julian asange,el rufai,ekwueme,fela etc) it can only be solved by doing what have to be done(ask jerry rawlings ,kaduna nzeogwu, ojukkwu the man and several other violent and non violent revolutions around around the world ).

bashr8: make we hear word , yorubas are only good at complaining as if all these started today , when its time to take the bull by the horn and cut the dragons throat or uproot the weed from the soil they will disappear or sabotage it.

being a human right activist or opposing curruption or incompetency cannot be solved by writting articles and shouting about it on social media(ask julian asange,el rufai,ekwueme,fela etc) it can only be solved by doing what have to be done(ask jerry rawlings ,kaduna nzeogwu, ojukkwu the man and several other violent and non violent revolutions around around the world ).

you know sometimes when you swim against high current in the sea its suicidal.
in some situations you cant face the problem, you can only be a witness to it , which is shouting and telling the story as it is.

BRAVEFIT: Analysis as given by Falana on Channelstv:

(1) Crude Oil productn/day =2.5M barrels.
(2)Current price = $113/barrel.
(3)Daily Sales =2.5M x 113 = $282.5M
(4)Monthly Sales =$282.5M x 30days = $8.475billion
(5)Yearly Sales= $8.475billion x 12 = $101.7billion
(6)Naira Equivalent = 101.7billion x 160 = 16.272trillion naira per year.
(7)Nigeria's budget for 2012 = 4.5trillion naira.
>>WHAT WILL HAPPEN T0 THIS SURPLUS?

Some people should stick to what they know, although I think that a JS1 one student should be able to have answers to analyses by Falana.

1. Oil does not dig itslef up, load itself into tankers, sell itself and hand over all proceeds to FG

2. Shell and co are not paid with hand shakes or in "thanks" as part of the JV with FG. They have their own cuts like 40% ?.?, which leaves FG with 60% ?.?

3. Oil producing states take 13% of FG's share of JV proceeds.

4. The state governments share the remainder of the money with FG taking the lion share.

5. Surpluses are derived from the difference between the budget benchmark and the selling price. This surpluss was once put in excess crude account, but states have been insisting that the money be shared and FG have been chopping some as well.

I agree that the government is very wasteful and should be accountable, but there is no need to embark on an argument without thinking it through.

are you just back from bulawayo ?
Even with all the deductions, in a year the fed should have nothing less than 40b dollars as surplus.

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FACE:

Some people should stick to what they know, although I think that a JS1 one student should be able to have answers to analyses by Falana.

1. Oil does not dig itslef up, load itself into tankers, sell itself and hand over all proceeds to FG

2. Shell and co are not paid with hand shakes or in "thanks" as part of the JV with FG. They have their own cuts like 40% ?.?, which leaves FG with 60% ?.?

3. Oil producing states take 13% of FG's share of JV proceeds.

4. The state governments share the remainder of the money with FG taking the lion share.

5. Surpluses are derived from the difference between the budget benchmark and the selling price. This surpluss was once put in excess crude account, but states have been insisting that the money be shared and FG have been chopping some as well.

I agree that the government is very wasteful and should be accountable, but there is no need to embark on an argument without thinking it through.

Very insightful,well done. Correct on all
Points including the fact that some pple
Take pleasure, in fact it is bliss for
Them, to engage in arguments without first
Thinking facts through!!! I think the Bible
Has a name for such individuals,its left to
Them to find it out!!! You forgot to mention
NNPC as well,even recurrent expenditure alone
When divided up into all the FG ministries,
Parastatals,etc is more than enough to
Gulp the so called balance.
Fiscal federalism is the answer.

NOI said oil revenue not included in budget.
Whats happening in that sector, wake up guys.

free milk for some

What is a budget after all? Simply put
it is allocation of specific amounts from
Total money generated within a given
system.
So,budget cannot be made without a source
Of income generation or are you going to
Budget on air?!!
In Nigeria today,crude oil accounts for
98.3% of money flowing in the system called
Nigeria and ultimately spent within this
Same system. So,how can anyone say the oil
Revenue is not part of the budget?!!!!
Pls if the Nigerian nation is now engaging
In international armed robbery pls let us
Know or how do we explain the money
Circulating in the system without
Identifying its source of generation only
To appear in the budget!!!!!!!!
Scandalous!!!!!!!