The real armed robbers of Nigeria are not those in prison. They are not those storming banks to cart away cash. They are not those dispossessing luxurious bus passengers of their possessions. The real armed robbers are not those stealing cell phones and pepper in Oshodi market. The real armed robbers of Nigeria are those who bear titles like Honorable, Excellency and Chief. They have robbed the nation blind.

Nigeria is the 13th largest oil producer in the world. OPEC allocated a daily production of 2.5 million barrels of oil to Nigeria. At an average price of $100 dollars a barrel, Nigeria could be raking in $250 million dollars a day. In a year, it will be about $90 billion. In Naira, that will be about N40 billion a day and N14.6 trillion a year.

In the 2013 budget, Nigeria set the benchmark price for crude oil at $79 a barrel. At that rate, 2.5 million barrel of oil a day will give Nigeria $229.1 million dollars a day. In a year, it will be about $80 billion. In Naira, that will be about N25 billion a day and N13.1 trillion a year.

Nigeria also produces gas. According to the Department of Petroleum Resources (DPR), Nigeria produces 8.0 billion cubic feet per day of gas per day(BCFD). 5.2 BCFD is for Associated Gas (AG), that is gas produced along with crude oil while 2.8 BCFD is for Non-Associated Gas(NAG), that is gas produced independent of oil production.

Of this amount 6.6 billion cubic feet of gas per day is utilized while 1.4 billion cubic feet of gas per day is flared. At a market rate of $3.5 per 1000 standard cubic feet per day of gas (SCF), Nigeria makes $23.1 million a day and loses $4.9 million dollars a day to gas flaring. $23.1 dollars a day adds up to $8.43 billion a year. In Naira that is a revenue of N3.6 billion a day and N1.32 trillion a year.

Irrespective of how the calculation is done or revenue collection enforced (equity crude; Petroleum Profit Tax, royalty, third party financing and the Nigerian Petroleum Development Company), at the crude oil benchmark of $79 a barrel, Nigeria makes about $80bn a year. Add $8.4 billion revenue from gas, Nigeria makes a cool $90 billion or N14 trillion a year. That is a lot of money in any currency.

Revenues from oil and gas give Nigeria 80% of its income. Another 20 % comes from sources as diverse as mineral exploration and agriculture. In all, Nigeria makes over $100 billion each year from exports. So Nigeria is awash with money. The billions in internally generated monies from fees and taxes are stolen with ease as they trickle in. But it is petrol dollars that are the most attractive and the most easily embezzled.

http://saharareporters.com/column/real-armed-robbers-nigeria-rudolf-ogoo-okonkwo

Jonathan and his corrupt government are the real armed robbers of Nigeria.

WHY IS JAGABANDIT NAME NOT ON THAT LIST;(

odua boy: Jonathan and his corrupt government are the real armed robbers of Nigeria.

what of your Own son Obj?

AKUNWATA1: WHY IS JAGABANDIT NAME NOT ON THAT LIST;(

and who is that?

AKUNWATA1: WHY IS JAGABANDIT NAME NOT ON THAT LIST;(

why is OBJ,IBB AND OUR EX LEADERS FROM NORTH NOT ON THE LIST?

odua boy: Jonathan and his corrupt government are the real armed robbers of Nigeria.

why is your own son OBJ NAME NOT ON THAT LIST?THE LAST I CHECK HISTORY HE RULE FOR 11YRS.

Energito: why is your own son OBJ NAME NOT ON THAT LIST?THE LAST I CHECK HISTORY HE RULE FOR 11YRS.

and he was not only the ruler for the eleven years!

Lagosapple,
check this site

http://en.wikipedia.org/wiki/List_of_government_budgets_by_country

By the time you remove cost of production, debt servicing and excess crude figures, the total accruable to the FG is not more than $70billion...

Now remember that the FG gets 45% of this, while the states share 55%...

This the FG gets at most $30b annually......

from the link I sent earlier, if you check Isreal with a population of 6million people, a tiny land mass and little corruption earns $66b annually...and guess what...Isreal is considered a poor country!!

Total annihilation of the political system is what we need in this country..

Tolexander: and he was not only the ruler for the eleven years!

he was head of state for 3yrs before 1999

Tolexander: and he was not only the ruler for the eleven years!

he was head of state for 3yrs before 1999 so add both and get the answer.

Energito: he was head of state for 3yrs before 1999 so add both and get the answer.

that isn't what i said.
How won't i know how many years he spent!

What i meant is that he had subordinates when he was ruling nigeria. Hence, he wasn't the only ruler.

Tolexander: that isn't what i said.
How won't i know how many years he spent!

What i meant is that he had subordinates when he was ruling nigeria. Hence, he wasn't the only ruler.

why is it that our S.W brothers blame only the president forgeting that obj and others are not better than jona?

Energito: why is it that our S.W brothers blame only the president forgeting that obj and others are not better than jona?

when OBJ was there, the same SW brothers blamed him for being corrupt. Don't be surprised things won't change when people from other zones are there.

Tolexander: when OBJ was there, the same SW brothers blamed him for being corrupt. Don't be surprised things won't change when people from other zones are there.

but the insults the man is geting from S.W is too much.

Energito: but the insults the man is geting from S.W is too much.

we never complained on how OBJ was insulted.

Energito: but the insults the man is geting from S.W is too much.

The reason is that Many Yorubas were expecting Jonathan to open National Coffers for them to loot as usual, but he refused to do that.

Real Armed Robbers of Nigeria= Excellencies, Honourables,Chiefs