gbaky_floor:

Gold and Diamond have been discovered in North. Zamfara and Kastina respectively(the remote LGA).

Unfortunately the natives are the ones doing the mining and selling at very cheap rates too.

king of pool: Lagos is turnin to all eye city, the world is goin to be revolvin along lagos and soon ll join world five biggest economy states.....

Texas.Cowgirl:


If Ondo and Ogun (?) are sitting on oil well, so are the other SW states. Division is likely going to be drawn out for all the "chop money clean mouth" politicians to have heir share.

obadiah777: APPARENTLY THE OIL WAS PUT IN THE CORE OF THE EARTH AS A LUBRICANT SO THAT THE EARTH CAN SPIN ON ITS AXIS BUT THE FOURTH BEAST ( CAUCASIANS ) HAS DECIDED TO DESTROY THE EARTH BY DRILLING IT AND TAKING OUT THIS OIL >>> REVELATION 11 VS 18 and thy wrath is come to destroy them which destroy the earth I AM SURPRISED AFTER ALL THE OIL TAKEN OUT OF THE CORE OF THE EARTH THAT THE EARTH HAS NOT STOPPED ROTATING AND DROP OFF INTO THE ABYSS SOMEWHERE KILLING ALL OF US.

Texas.Cowgirl:


Obadiah, come and take your pill

Malawian: what is the source of that oil you guys purportedly found in lagos? could it be the result of those oily shait you guys have been releasing down the years? just wondering though.

obadiah777: * POPS THE PILL GIVEN ME BY MADAM *

The Lagos State House of Assembly passed into law a bill to establish Ibile Oil and Gas Corporation to invest and engage in oil and gas activities in the state and for connected purposes.

According to section 2 of the bill, the Corporation shall have powers to engage in all oil and gas upstream activities, including exploration, drilling and production; invest in a company or a consortium for the purpose of participating in oil and gas bid rounds and seeking marginal fields allocation.

Other powers of the corporation include acquiring old or new exploration and drilling prospects and prospecting abandoned wells anywhere in Nigeria and Overseas. “Optimise the benefits of Petroleum Policies of the Federal Government; acquire gas volumes and other supplies for state as may be considered appropriate.

“Liaise with the Federal Government agencies or private and multinational companies to deliver petroleum products to the state in the most effective and cost efficient manner; invest in refinery, petrochemical processing or other production processes and do all such things necessary to facilitate the discharge of its responsibilities.”

Section 3 of the bill, which talks about the establishment and composition of the Governing Board of the Corporation, states that: “There is established for the corporation a Governing Board to be known as Ibile Oil and Gas Corporation Governing Board.

The Board according to Section 3 (2) shall comprise of the Chairman; four (4) members from the Public or Private Sector; the Managing Director; and the Permanent Secretary or a representative in the Ministry of Energy and Mineral Resources not below Grade Level 15 to be nominated by the Commissioner.

The members of the Board except the ex-officio members shall be appointed by the Governor, subject to the confirmation of the House, while the appointment of the Chairman and four (4) members of the Board shall be from the five Divisions of the state.

The corporation according to Section 22 of the bill, may with the approval of the House of Assembly borrow from time to time such sum of money for and in connection with exercise of its powers under the law as the Board may deem fit.

Governor Babatunde Fashola yesterday signed the bill for law to establish the Ibile Oil and Gas Corporation.


http://www.oilandgaspress.com/wp/?p=14484

Texas.Cowgirl:


Oya, now try to reply me again lol

Kennykenty: I thought Folawiyo & cø is drilling oil some where around Lagos axis in commercial quantity?. Pls i stand to be corrected.

obadiah777: WISH I COULD. DONT KNOW MUCH ABOUT NIGERIA, ITS STATES AND ITS POLITICIANS BUT WHAT I HEAR ON NAIRALAND HOWEVER THIS OIL DISCOVERY IS BAD NEWS ALL AROUND

obadiah777: APPARENTLY THE OIL WAS PUT IN THE CORE OF THE EARTH AS A LUBRICANT SO THAT THE EARTH CAN SPIN ON ITS AXIS BUT THE FOURTH BEAST ( CAUCASIANS ) HAS DECIDED TO DESTROY THE EARTH BY DRILLING IT AND TAKING OUT THIS OIL >>> REVELATION 11 VS 18 and thy wrath is come to destroy them which destroy the earth I AM SURPRISED AFTER ALL THE OIL TAKEN OUT OF THE CORE OF THE EARTH THAT THE EARTH HAS NOT STOPPED ROTATING AND DROP OFF INTO THE ABYSS SOMEWHERE KILLING ALL OF US.

Saint Chukz: Ignorant talk...what do you understand by the earth's core? The earth's core is only known or inferred from refractive studies and other techniques. No known Man-made equipment has the capacity yet to drill into the earth's core...it's even the uppermost part of the mantle that has been breached. I think you really need those pills from Texas. Cowgirl.

omowolewa: This is not a news.

The real News is that, nations are now discovering Crude oil in commercial quantity. Demands for our oil will soon reduce in a way that will affect our economy.

Ghana, Benin, Togo, CIV, Niger, Cameroon, America, India and most potential buyers have discovered oil, so whatz the hype?!

The only nation that is yet to discover oil in a way that will affect our Economy greatly is China(I stand be corrected) but they are working seriously on alternative energy.

Okay, if everything remains equal, with maximum repatriation of profit by multinational companies and gross embezzlement by the Ogas@d top, HOW DOES THE DISCOVERY TRANSLATE TO A BETTER LIFE FOR THE NIGERIAN MASSES?

Texas.Cowgirl:
Something tells me that Nigeria is sitting on an oil well.

Texas.Cowgirl:


He was joking

Saint Chukz: Ignorant talk...what do you understand by the earth's core? The earth's core is only known or inferred from refractive studies and other techniques. No known Man-made equipment has the capacity yet to drill into the earth's core...it's even the uppermost part of the mantle that has been breached. I think you really need those pills from Texas. Cowgirl.

gbaky_floor:

Gold and Diamond have been discovered in North. Zamfara and Kastina respectively(the remote LGA).

Unfortunately the natives are the ones doing the mining and selling at very cheap rates too.

Saint Chukz: Geomorphologically speaking...i wouldn't even call those stones Gold or Diamond,but some dirty facies pellets that took on the appearance of the real precious stones. Wait a minute..! Did u mention diamond in Zamfara and katsina..? No..that's definitely some glittery dirty crystals and not diamond.

obadiah777: YOU HARDLY KNOW WHAT YOU ARE TALKING ABOUT. SMH

Saint Chukz: You are a lizard..no wonder you always shake your head rather than admit your goof. And what's with the irritating caps?

obadiah777: LOOK AT THIS BOOTLEG WANNABE GEOLOGIST MAKING NOISE SMH

Walexz02: Omo mehn!! I love hearing this kind of news...