Naijacitizen:
Protector seeker come here have some food for you.



Barcanista

Naijacitizen:
Protector seeker come here have some food for you.

Barcanista

mogentle:

Yes oo..Barcanista, the Supremo Wailing Wailer, the knower of all things, come out and prove this wrong again.

barcanista:
Typing...

barcanista:
Typing...

ITbomb:
Let me help you out, it is no magic if you had paid more attention to your economies in sec school.

Nigeria gross revenue is calculated in naira
Oil price in dollars

Oil prices dropped and naira value also dropped
This means that Nigeria is collecting about twice the amount for the same barrel of oil it sold last year.

Redoil:
maka why?
How many federal project has booboohari undataken since he assume office? None but feasting on gej past glory has been the other of the day.
Since booboohari has stop importation due to lack of forgien exchange to defend our naira any body with fufu and redoilsoup for brain will never know that such step will increase our forigne reserve to the detriment of the people who consume goods that we cant produce. Mumu people and mumu govt.

barcanista:
@OP:

Money shared in June (earned in May under GEJ) was N409 billion. This includes N6.33 billion NNPC tax for the month. In fact, it was an increase from the May revenue of N388billion without the N6.33 billion NnPC tax.

Money shared in July was N506 billion and not the amount you quoted. Once again, this include the N6.33B NNPC tax for the month of June.

Can you please provide us some answers to this question:

How much was oil per barrel in the months of April, May, June and July?

How many barrels were sold?

These questions will give us a lead

Demdem:


Yet some shameless fools whose seeds will suddenly cough to death will claim they are yet to see change.
This is good news for the entire country, apc, pdp inclusive.
Even with no minister yet, the General continues to prove himself. Shame on u Ngozi (world Bank fraud), shame on u Jonah-daft.
Surely, i can trust the General with the resources of this country.

chudionu58:
Are the propagandists telling us that there is no impact of pipeline sabotage on oil earnings? Have there been shut ins by the IOCs since May 29th?? At a point due to sabotage, Transforcados and the Nembe trunkline were down due to willful blowups using dynamites... of course there is no motivation blowing the pipes as the common enemy is gone..Here we are being told to clap because of "fear factor"

barcanista:
APC won't give a breakdown. They keep giving round figure

Redoil:
too many weedians with cow dung for brain
How many federal project has booboohari undataken since he assume office? None but feasting on gej past glory has been the other of the day.
Since booboohari has stop importation due to lack of forgien exchange to defend our naira any body with fufu and redoilsoup for brain will never know that such step will increase our forigne reserve to the detriment of the people who consume goods that we cant produce. Mumu people and mumu govt.

barcanista:
@OP:

Money shared in June (earned in May under GEJ) was N409 billion. This includes N6.33 billion NNPC tax for the month. In fact, it was an increase from the May revenue of N388billion without the N6.33 billion NnPC tax.

Money shared in July was N506 billion and not the amount you quoted. Once again, this include the N6.33B NNPC tax for the month of June.

Can you please provide us some answers to this question:

How much was oil per barrel in the months of April, May, June and July?

How many barrels were sold?

These questions will give us a lead

senier007:


It obvious your objectivity has left you, instead of asking me of the records which is obviously in public dormant, I expect you to present any evidence that the previous government have achieved or even surpass the said feat, cuz for the past 6years the previous government has never, I repeat NEVER gave any states such amount. I think the main factor is the leader, despite some vandalism here and there, the government is not relenting in it primary responsibility to be accountable to the masses in a transparent manner. Not only in revenue, fuel scarcity is also disappearing, power is gradually improving more than the last 16years of miserable PDP sham called government. Barcanista sit down and relax cuz more of good news is on the way, very soon GEJ will come out and denied some of you that enjoy negative attack not criticism.

senier007:
So how do we explain this? In June, Nigeria’s three tiers of government met and shared the sum of N409.3bn after the Federal Account Allocation Committee met in Abuja to disburse gross revenues for the month of May. A month later, when they met again to share that of June, the total amount was N518.54bn – an increase of 26.68 per cent. When they met to share the gross revenues for the month of July, the gross revenue had increased by almost 22 per cent to N630.98bn.

The strange thing about the rise in revenue was that oil hit a four-month low of $53.33 per barrel during the period, and so the expectation was that revenue will drop. Yet it rose. The increase in revenue was such a shock that FBN Capital said in its August 5 daily note that, “we struggle to explain the marked increase in the allocation which is predominantly derived from the oil industry.”



According to analysts, the factor responsible for the massive rise was the fact that gross revenues into the federation account are now being more transparently managed since new president Muhammadu Buhari took over.

Yesterday’s directive by the president for all government agencies to start paying money into a Treasury Single Account (TSA) is expected to ensure an even stricter monitoring of accrued revenues.

The Buhari administration has so far imposed a more transparent reporting method which ensured that revenues which used to be unaccounted for are now brought to the collective pool where they are shared.



Gov. Oshiomhole recently confirmed the increase in revenue for his state. Speaking with Business day newspaper, the governor said, “I can tell you that my state got much more than it would normally get and this additional funds came because they (federal agencies) could no longer hide or cook their books.”

He said, “we are already seeing the benefit of the attitude of the Buhari administration to our collective resources and this is welcome, especially because we have just started and their scope for getting better. We all can now see that the days of impunity are gone.”

The increase is good news for the struggling state governments. For instance, one of the top states, Rivers, which received N8.9 billion in the month of May got an increased sum of N12.6 billion for June, while a state like Gombe got N4.37 billion which is an increase from the N2.98 billion it received in May.

Source: http://www.thescoopng.com/how-come-oil-prices-fell-and-yet-nigerias-gross-revenues-rose-short-answer-buhari/