Oil Wells
06:07:00 pm, by admin , 1697 words
Categories: News, Nigerian News, World News, African News, African Issue, Tellers and Global Viewers


*How Babangida, Abacha, Obasanjo Shared Nigeria's Oil Wells
-Masterweb Reports (Submission By Obinna Akukwe)
The process of sharing Nigeria’s oil block national cake is as fraudulent now as when Ibrahim Babangida started the process of discretionary allocation of oil blocks to indigenous firms. Discretionary allocation of oil blocks entails that a president can reward a mistress who performs wonderfully with an oil block with capacity for cumulative yield of over $20 billion dollars without recourse to any process outside of manhood attachments. Babangida, Abacha, Abdulsalami and Obasanjo awarded discretionary oil blocks to friends, associates, family members, party chieftains, security chiefs and all categories of bootlickers, spokespersons and cult members without any laid down procedures.
The recipients of such oil blocks will get funds from ever willing offshore financiers and partners to graciously settle the benefactors, the awarders, facilitators and the Commander-in-Chief through fronts. These settlements mostly paid into foreign accounts runs into hundreds of millions of dollars according to the potential yield of the block. Sometimes, the awarder (sharer of national cake and direct intermediaries) demand additional stakes in the bidding company. The awarder sends fronts as part of the directorship and management of the bidding firms without leaving a link to them. That is how the oil block national cake is distributed to a few Nigerians. ( Continues below..... )

Photo Above: Nigerian Presidecies Fraud Alert Symbol
Signature bonuses which are paid when an investor successfully bids, wins and signs agreement with the petroleum ministry, running into tens of millions and sometimes hundreds of millions of naira ,is often waived off. There is actually no waiver; rather a diversion of what would have been paid to government t coffers is paid into private purse as appreciation gifts. That is why those in the Petroleum Ministry dread retirement as though it signifies going to hell fire. No matter how little your influence, something substantial must enter your hands especially in hard currency. The nation loses billions of dollars in diverted revenue whenever any round of auction occurs.
OML 110 with high yield OBE oil fields was given Cavendish Petroleum owned by Alhaji Mai Daribe, the Borno Patriarch in 1996 by Sanni Abacha. OBE oil field has estimated over 500 million barrels of oil. In layman’s language and using average benchmark of $100 dollars per barrel, translates to $50 billion dollars worth of oil reserve. When you remove the taxes, royalties and sundry duties worth about 60% of the reserve payable over time you get about $20billion dollars worth of oil in the hands of a family. ( Continues below..... )

Photo Above: Late Sanni Abacha
OPL 246 was awarded to SAPETRO, a company owned by General Theophilus Danjuma, by Sanni Abacha in 1998. Akpo condensate exports about 300,000 barrels of crude daily.
OML 112 and OML 117 were awarded to AMNI International Petroleum Development Company owned by Colonel Sanni Bello in 1999. Sanni Bello is an inlaw to Abdulsalami Abubakar, former Head of State of Nigeria.
OML 115, OLDWOK Field and EBOK field was awarded to Alhaji Mohammed Indimi from Niger State. Indimi is an inlaw to former Military President Ibrahim Babangida.
OML 215 is operated by Nor East Petroleum Limited owned by Alhaji Saleh Mohammed Gambo.
OML 108 is operated by Express Petroleum Company Limited is owned by Alhaji Aminu Dantata.
OML II3 allocated to Yinka Folawiyo Pet Ltd is owned by Alhaji W.I. folawiyo.
ASUOKPU/UMUTU marginal oil fields is operated by Seplat Petroleum. Seplat is owned by Prince Nasiru Ado Bayero, cousin to the Central Bank Governor Lamido Sanusi. This oil field has the capacity of 300,000 barrels of oil daily. This translates to $30million dollars daily at average benchmark of $100 dollars per barrel. Deducting all sundry taxes

Otunbab:
Foolish, Una sabi customized iPhone for GEJ pikin wedding ,e reach make una dash d people something , na stupi.D Phone wey go dey hot for person ear na hin una dey share now abi?
God must punish GEJ and hin PDP.
Buhari all d way.

I'm a Goodluck Man, but this one he fail well lle! Things are not OK with our youths but our politician keep waisting money on toys providing job for Chinese and Indian school drop outs. Ah; I weak o ! I don defend GEJ so tey I weak! From one to another. Anyway GEJ 2015. there is no better choice.

SSSlytherin2:

Hehehehehehehehehehe hehehehehehehehehehe hehehehehehehehehe hehehehehehehehehehe hehehehehehehehehe hehehehehehehehehehe

Hey Piggy, Just go to the gutters where you belong, you must be a modern pig for even owning a phone to browse with.
Slave like you, I repeat go and clean your master's ass with your tongue he just finished poo. In fact, eat the poo, that's what pigs eat.
Why am I even talking to an animal like you?
I'll just ignore your next mention, I won't even read it.
Hehehehehehehehehe.... Slave slave slave.

Choke on a fat chunky herpes ravaged and unwashed di....ck!

Bastar d

That's why Jonathan is by all means has gathered hatred to himself by ill minded politicians
There will be a bidding process to be held some months after election

And look at the clown holding the phone.

Otunbab:
Foolish, Una sabi customized iPhone for GEJ pikin wedding ,e reach make una dash d people something , na stupi.D Phone wey go dey hot for person ear na hin una dey share now abi?
God must punish GEJ and hin PDP.
Buhari all d way.

I can't stop laughing and rolling. Anyway I don't support any of them

Misogynist2014:
This wasn't done 4yrs ago, I think APC is giving them a run for their money.

you can say that again

luvbeloved:
Bunch of thieves! It's annoying how PDP politicians are flexing in this country yet no jobs for graduates. How did he get money to build this fone company?...our money am sure. I personally like the fight APC is giving PDP. The next to sit on the sit won't jst sit and loot cos dem for done knw say Nigerians don vex. Buhari isn't the best...we don hear! make we try am see.
SAI BABA

He build company with the so called money you claimed he thief and created thousands of job for people employed in that company. But what did your buhari did with his own money he thief from his years in government ?nothing, instead he scarter the money across bank at home and abroad without a single investment to creat job for the youth. Yet u open u silly smelling mouth and chant sai Bokohar

spott:
After all this GEJ will still loose.

People will collect d phone and vote Buhari in d polling booth simple.

Waste of money and resources

#March4Buhari

Yes. I can't wait for GEJ to loose your brain from where APC tied it.

That's simply ingenuity and innovation. It ws not a waste of money.

vikyno:


Yes. I can't wait for GEJ to loose your brain from where APC tied it.

That's simply ingenuity and innovation. It ws not a waste of money.

What is innovative about mass purchasing phones and wrapping it up with GEJ prints?

Fu...cking donut.... You should be slapped violently across the face for the nonsense you typed above.

Dimwit!

drnairalov:
whateva GMB 4 life, If u like do Jonathan branded Garri, If you like do Jonathan Branded Palmwine, If u Like do Jonathan branded Bread!!!

What we want is change and no branded commodities would change our mind as to that, you had your time to prove urself, but u no try, so GMB till Patience can speak Queen's English

Jonathan: Patience, if you to choose between money and brain what would you go for?

Patience:I would go for the money!!!

Jonathan: As 4 me I would go for the brain !

Patience : Well everybody goes for what he doesn't have!!!

hahahahahahhahahahahahhahahahahahha

benedictac:


I can't stop laughing and rolling. Anyway I don't support any of them

It's true now.

ElFenomeno1:


What is innovative about mass purchasing phones and wrapping it up with GEJ prints?

Fu...cking donut.... You should be slapped violently across the face for the nonsense you typed above.

Dimwit!

Shebi na ur papa dey work as the gateman for where den dey wrap am? idiota.

luvbeloved:
Bunch of thieves! It's annoying how PDP politicians are flexing in this country yet no jobs for graduates. How did he get money to build this fone company?...our money am sure. I personally like the fight APC is giving PDP. The next to sit on the sit won't jst sit and loot cos dem for done knw say Nigerians don vex. Buhari isn't the best...we don hear! make we try am see.
SAI BABA

Both APC and PDP are thieves

Otunbab:
Foolish, Una sabi customized iPhone for GEJ pikin wedding ,e reach make una dash d people something , na stupi.D Phone wey go dey hot for person ear na hin una dey share now abi?
God must punish GEJ and hin PDP.
Buhari all d way.

Abok* bah English?

dolafunmi:
hmmm.
GMB all the way. That Otueke fellow needs to be flung out.

I hope u have ur PVC?

vikyno:


Shebi na ur papa dey work as the gateman for where den dey wrap am? idiota.

Your father... When you get home tonight, tell him he is a vacuous troglodyte and beat him to a pulp with a pestle.....

Bloody irresponsible son of a village nuisance!

Fu.....ck all of ya and everything ya all stand for!

ElFenomeno1:


What is technologically innovative about phones mass purchased and packaged with GEJ's image on the pack?!

Fu.....cking moro......n!

For calling the nonsense on the front page innovation, you deserve to be shot in the eyes at close range!

Oponu ayirada.

Must you insult to make your point

spott:
After all this GEJ will still loose.

People will collect d phone and vote Buhari in d polling booth simple.

Waste of money and resources

#March4Buhari

Lmao

ElFenomeno1:


Your father... When you get home tonight, tell him he is a vacuous troglodyte and beat him to a pulp with a pestle.....

Bloody irresponsible son of a village nuisance!

Fu.....ck all of ya and everything ya all stand for!

Lol. take it easy with yourself before you bite your e-tongue. Try take a little rest, you will be fine.

#wink.

QuiverBox:


Must you insult to make your point

Must you quote me?

Fuc..king GASBAG!

god bless u bro

SSSlytherin2:
That's technological innovation.
GEJ all the way.

Plastering the face of a (clueless) man on a telephone package is technological innovation.. ??!!

Omo ale jatiti

GEJ simply have igbos in mind.

Otunbab:
Foolish, Una sabi customized iPhone for GEJ pikin wedding ,e reach make una dash d people something , na stupi.D Phone wey go dey hot for person ear na hin una dey share now abi?
God must punish GEJ and hin PDP.
Buhari all d way.

if u like , kill ur self, GEJ is the MAN, tilly 2019

wazobiaN9:


Plastering the face of a (clueless) man on a telephone package is technological innovation.. ??!!

Omo ale jatiti

; you no get work, GEJ TILR 2019

luvbeloved:
Bunch of thieves! It's annoying how PDP politicians are flexing in this country yet no jobs for graduates. How did he get money to build this fone company?...our money am sure. I personally like the fight APC is giving PDP. The next to sit on the sit won't jst sit and loot cos dem for done knw say Nigerians don vex. Buhari isn't the best...we don hear! make we try am see.
SAI BABA

.


The so called APC members stole stash cash from the contry's treasury, which would have crush down the economy if not for jonathan"s enability to revive sectors.

They stole this money to fortify an opposition to aim their sinister goal.

They are just bunch of loosers.

To secure that your long dream job.
Don't waste your vote on scumbag who aim to fill their pocket.

GEJ till 2019

Mean while u need this to power the phone, cos wit out power/battery the phones are useless. PDP providing phones, APC providing baterry to power it.

Vock:
Na China phone sef... They can't get anything right, anyways I won't mind getting one

what's the difference between China phone and others

Stella5:
no go look for job,be waiting for buhari to give u job which will neva happen.siddon for house n wait for goodluck or pdp to bring job for u.lazy bone.goodluck till 2019 period

FYI I get work

spott:
After all this GEJ will still loose.

People will collect d phone and vote Buhari in d polling booth simple.

Waste of money and resources

#March4Buhari

Spot on bro. Make the guy throw some percentage of his lot back to the masses and the needful MUST be done come March.

Otunbab:
Foolish, Una sabi customized iPhone for GEJ pikin wedding ,e reach make una dash d people something , na stupi.D Phone wey go dey hot for person ear na hin una dey share now abi?
God must punish GEJ and hin PDP.
Buhari all d way.

God bless you so much my brother.Can you see he is using a samsung to make a call?Na who una wan deceive again.SAIII BUAHARII