realjoker:

www.channelstv.com/2015/03/26/osinbajo-clears-air-on-n5000-stipend-to-25-million-poor-people/ i think you need to see this and and to your primary post

Obiagelli:

Read my post again. How much has gej saved under record oil prices? I based my calculations at 60 dollars pb while gej enjoyed 120 dollars.

1wolex85:

it's actually 95% of revenue AFTER COST.

Obiagelli:
Other links,

www.thisdaylive.com/articles/nigeria-produces-2-5mbpd-of-crude-oil/154098/

If my maths failed me anywhere, please correct me, i don dey old o.

Truckpusher:
Boy , if you ever believed those values then you're a mor0n.

Obiagelli:

You are free to check my links.

kenonze:


Did u vote for GMB?
The ans is NO.
Why are u worried about his promises.
Na we vote am,
We no dey complain weda e do am or not.
What we are interested is simple.......
1: kill corruption
2: fix our roads and dying school system.
3: electricity

Every other thing shall fall in place.
We are nigeria.
We are not lazy.
He shld just give us the aforementioned, we gonna sort other things out

Obiagelli:

Since when did FIRS start collecting crude oil revenue?

Btw using words like breaking it down to my level does not make you any smart. Go and read the FIRS link.

1wolex85:

it's actually 95% of revenue AFTER COST.

AdamsTJ:
Wow!!! Interesting, this is a really good analysis... I hope the big guys are taking a glimsp at this lovely analytic prescribtion...

hope4nigeria:
op stop ague with them,they were Gej till 2019 crew members!now that they'v failed ,they will never see anything good abt GMB,you can never convince them to see the trut, they will alway prophecise doomed into thier house hold, intead of praying for the incoming government to suceed, they will be criticising wrongly when he's yet to even take power! but they will never reject any good coming from GMB.these same e-rodents will be the 1st to attend interview If GMB release embago on employment, yet they will condem him because of thier evil mind. just free them. LAGOON will be thier end point.

MuguliciousMUGU:
Nonsense

go school, you won't go... You can see how buhari certificateless brain is affecting yours.

Just as they say, show me your friend and i will tell you who you are.

I rest my case.

We are watching the miracles...

MuguliciousMUGU:
Nonsense

go school, you won't go... You can see how buhari certificateless brain is affecting yours.

Just as they say, show me your friend and i will tell you who you are.

I rest my case.

We are watching the miracles...

jibbish:
one good thing about nairaland politics is that it opens your mind to some critical thinking in the right direction. am of the opinion that GMB will perform. all PDP stalwarts can start looking from outside and see APC perform the same magic that was performed in Lagos that made it an envy of other states.

Obiagelli:
Officially, Nigeria exports 2 million barrels of crude oil
daily. At the current price of 60 US dollars per barrel, that
translates into 120 million US dollars.

120 million x 365day = 43,800,000,000

43 billion dollars @ 60% ( rumoured sharing formula between Nigeria and oil companies)

That means Nigeria makes 25.8 billion dollars annually.

$25.8 billion x 200 naira = 5.1 trillion naira.


Nigeria's 2014 budget was N4.6 trillion meaning we still have about 0.5 trillion naira change.
www.channelstv.com/2014/04/09/nigerian-senate-passes-4-6-trillion-naira-2014-budget/


FEDERAL INLAND REVENUE

Nigeria generated N4.69tn Revenue in 2014

www.thisdaylive.com/articles/firs-generates-n4-69tn-revenue-in-2014/200484/

Adding N4.69 trillion (firs) + 5.1 trillion (crude oil) = 9.79 trillion.

If our budget was N4.6 trillion then we have a balance of 5.1 trillion naira that nobody accounts for.

Barcanista asked where we will find 1.8 trillion to take care of our most vulnerable citizens, this balance of 5.1 trillion will be taken away from the pockets of criminals and militants.

Seun
Lalasticlala
Ishilove
MizMyColi
MzJackBaueress.

EDIT.


I forgot the FG gets 52% of total income, even at that we have a balance of 0.6 trillion naira which is sufficient for the first stage of the social programs.
The APC government has said one of its major income earners is the mining industry.

This plans with financial discipline is very much achievable.

Please note that my analysis is based our major source of income ( oil and taxes), i have not touched other income earnings.

kaboninc:


I never had any intention of commenting on nairaland tonight but your comment above made me puke! Damn! I felt some goose pimples and had to correct you.

The price of a barrel of crude is below 60USD, especially the Nigerian flavour. I thought you were complaining about the 'sudden' increase in naira-dollar exchange rate? Saying this government has failed to manage the economy? Now you're using it to validate your analogy (even when it is flawed). You're funny. I wonder what your definition of management is!

Oby, I beg you, please do not post such nonsense/rubbish and term it as fact again especially here in nairaland. Gosh, you're not talking to kids neither are we in the bear palour.

You're insulting our collective intelligence here. Biko!

For God's sake, the FIRS collects all revenues for the Federal Government and that includes the income generated from sales of crude oil. So where is the additional N4.69 trillion from FIRS coming from? Pluto?

In your analogy, you were so ignorant that you forgot to add the COST, EXPENSES incurred in lifting one barrel, processing it and subsequently selling it.

STOP posting rubbish here and labelling it as a FACT! Then again, isn't it amazing that you will spend about 20% - 25% of your national budget (1.8 trillion of 4.6 trillion) on direct consumption when there are urgent needs that require urgent attention? Still, I wonder what your definition of efficient management is! Maybe that's how your party, the APC intends to prune the cost of governance. So pathetic! I hope you know this year's budget is a budget of deficit? (or you don't know too?) Maybe you guys will print more money to execute your pipe project!

I beg you, STOP so that some lazy kids won't come here to pick these fractured information you post here and use it as a basis to argue.

Lastly, God gave us 2 eyes each and a wonderful reasoning component called the brain. Please let's use it.

Cheers.

Cc: anonimi

doctokwus:

Thank you.No one is saying some of d social programs ain't ambitious and that along d line,all may not be achieved as stated during d campaign stops, but for anyone to dismiss it outrightly or to believe that Nigeria cannot run a social welfare program for a fraction of our population is being callous,vindictive and mischievous.
We should not forget that fuel subsidy itself is a welfare program and d GEJ govt was spending at a point almost a trillion annually and this went into d pockets of elites with no trickle down benefit to the economy,yet Nigeria did not collapse.

Obiagelli:

And the guy sabi throw insults.

I hope MizMyColi is reading

money121:


OMG!!! Op really fall my hand.. For replying barcanista thread...

Barcanista and firefire are loser since time of Adam...

Please jus ignore dem...

Am sure buhari and co.. Dey see barcanista thread... So dont b surprise if the e diot end up in jail like em god father.. Bode george..

taharqa:


Lolz

Obi, I like you so I would be kind. Plzzz, reread what you just wrote here and modify. I'm fact, rewrite everything.


CLUES when rewriting:
----Nigeria and the Oil companies only share the PROFIT from the Crude Oil sales after the Cost for the exploration, exploitation, storage, transportation, etc have been removed
---- This Share of the Oil Profit goes to the 3 tiers if Govt, and not just the FG
----- Most of the revenue that FIRS raise in a year come from taxes (royalties, production sharing fees, etc) from these same OIL COMPANIES, and so indirectly still come from the Profit of Crude Oil sales. It is therefore wrong to calculate it as though it is a stand-alone revenue source
--- Amongst others


The truth id that none of you chaps has even the slightest clue how to respond to that painstakingly well researched OP from barcanista. FULL STOP. We expect the main APC guys to tell Nigerians HOW they intend to fulfill the many promises they made during the campaigns. Apparently, they 'forgot' to do so before now

Greatings

Obiagelli:

I didn't want to reply the thread till i saw it on the front page.

1wolex85:

I think it's you that needs to check your maths! maybe he meant 7.7 billion. even at that,the link he posted says 77

Obiagelli:

Please can you shed more light on this, do you mean that the Fg gets 95% while the oil companies get 5%. I generously gave the oil companies 40 % in my analysis

Firefire:


They way Jonathan could have sent you lots to jail for many useless words on here. I challenge your Baba Once Chance to try that rubbish.

Nonsensical nonsense.

trillville:


Please, I hope you are not adding the offshore crude oil to your ND figure? Try to separate onshore ND crude from offshore Nigerian crude when u are making any point.

I believe Nigeria also earns money from lng sales and customs too. Agencies such as FAAN make a killing too off taxes at our airports. So please let's calculate government revenue properly.

doctokwus:

Thank you.No one is saying some of d social programs ain't ambitious and that along d line,all may not be achieved as stated during d campaign stops, but for anyone to dismiss it outrightly or to believe that Nigeria cannot run a social welfare program for a fraction of our population is being callous,vindictive and mischievous.
We should not forget that fuel subsidy itself is a welfare program and d GEJ govt was spending at a point almost a trillion annually and this went into d pockets of elites with no trickle down benefit to the economy,yet Nigeria did not collapse.

anonimi:


I notice that ALL your revenue projection is based on Niger Delta crude oil. Nothing from groundnut oil, palm oil, coconut oil or other agricultural and industrial revenue.

Why are we only about SHARING the wealth derived from only one part of the country