http://nairametrics.com/heres-how-much-fg-earned-from-oil-in-eight-months/


http://businessdayonline.com/2015/10/nnpcs-export-receipts-decline-by-67-percent-to-607-8m/


http://www.vanguardngr.com/2015/10/banking-sector-shrinks-in-second-quarter/

http://www.vanguardngr.com/2015/10/imf-urges-cbn-to-review-forex-policy/

http://dailyindependentnig.com/2015/10/foreign-exchange-inflow-falls-by-n678bn/

Oil and gas export receipts at the Nigerian National Petroleum Corporation (NNPC) have witnessed a sharp decline of more than 67 percent from September 2014, when the receipts hit their peak, to July 2015, resulting in a relatively paltry remittance of $607.8 million to the Federation Accounts Allocation Committee (FAAC) in the year 2015.


A breakdown of the oil and gas proceeds showed that $0.61billion was remitted to the Federation Account as dollar proceeds while the balance of $2.815billion was used to fund the NNPC Joint Venture (JV) cash call (counterpart funding) within the period.

Kachikwu stated that the continued decline in oil price led to insufficient cash available to meet monthly JV cash calls obligations of about $615.8million as appropriated by the National Assembly.

To mitigate this effect, the Corporation was compelled to sweep all the export receipts to JV cash call funding implying a zero dollar proceed remittance to the Federation Account since April.

okay. baba is der to do somtin, u can count on him. he won't fail us.

This cash shortage has occurred in all oil dependent economies. The only difference is we have alleged leakages that have been calculated to run into billions of dollars. If we had a cushion of at least $20 billion, which is on the low end of what is being said to have been looted, the drop in oil prices wouldn't be an issue. We've survived worse with terrible leadership. We will be juuuuuust fine.

Pmb is aware I hope?

What will the new Finance Minister do? We need an Urgent Economic Summit!!

All iz well

LoveMachine:
This cash shortage has occurred in all oil dependent economies. The only difference is we have alleged leakages that have been calculated to run into billions of dollars. If we had a cushion of at least $20 billion, which is on the low end of what is being said to have been looted, the drop in oil prices wouldn't be an issue. We've survived worse with terrible leadership. We will be juuuuuust fine.

I thought the leakages have been blocked?? Or ar you saying that after over four months of allegations, investigations and media trials, that this government doesn't have a clue where these monies are escaping from our economy??

OldJohn:



I thought the leakages have been blocked?? Or ar you saying that after over four months of allegations, investigations and media trials, that this government doesn't have a clue where these monies are escaping from our economy??

I'm saying that if the money hadn't been taken prior to this new administration we wouldn't be wanting for money. The amounts that have been reported to have been looted would be enough to fund multiple budgets. Oil was at $150+ at one point and yet we have nothing to show for it? Where did the money go? Still no roads? Still no water? Still no electricity? This can't be correct.

People can get mad if they want but GEJ set everything back by not giving handover notes and postponing the election by 6 weeks. By those actions we have been knocked off by atleast 10 weeks. Imagine if we were at this stage in July. Instead we find ourselves here in October. I won't crown this new regime yet but I will most certainly give them my vote of confidence to make our home perfect. I gave GEJ a chance now I will give PMB a chance.

I'm not speaking on anything that I can't confirm through news clippings and empirical evidence. Kachikwu has stated that a new audit must be done to fully understand what has gone awry. A decade plus of mismanagement is quite a task to handle. Slow and steady wins the race. Measure thrice cut once.


edit: My bad the notes were given a few weeks late but they were given. I meant to type that originally but made a mistake. SirBrightoc thank you pointing that out.

Nigeria needs prayers

LoveMachine:


I'm saying that if the money hadn't been taken prior to this new administration we wouldn't be wanting for money. The amounts that have been reported to have been looted would be enough to fund multiple budgets. Oil was at $150+ at one point and yet we have nothing to show for it? Where did the money go? Still no roads? Still no water? Still no electricity? This can't be correct.

People can get mad if they want but GEJ set everything back by not giving handover notes and postponing the election by 6 weeks. By those actions we have been knocked off by atleast 10 weeks. Imagine if we were at this stage in July. Instead we find ourselves here in October. I won't crown this new regime yet but I will most certainly give them my vote of confidence to make our home perfect. I gave GEJ a chance now I will give PMB a chance.

I'm not speaking on anything that I can't confirm through news clippings and empirical evidence. Kachikwu has stated that a new audit must be done to fully understand what has gone awry. A decade plus of mismanagement is quite a task to handle. Slow and steady wins the race. Measure thrice cut once.

Why will you join in promoting lies? You claim GEJ did not give a handover note, just less than 5 months from when it was all over the news that he did. Please see links below

www.premiumtimesng.com/news/headlines/183804-breaking-jonathan-formally-submits-handover-notes-to-buhari.html

www.vanguardngr.com/2015/07/why-reps-asked-buhari-to-publish-jonathans-handover-note/

There is hardly a newspaper that has not this story and more. Please be honest with yourself.

SirBrightoc:


Why will you join in promoting lies? You claim GEJ did not give a handover note, just less than 5 months from when it was all over the news that he did. Please see links below

www.premiumtimesng.com/news/headlines/183804-breaking-jonathan-formally-submits-handover-notes-to-buhari.html

www.vanguardngr.com/2015/07/why-reps-asked-buhari-to-publish-jonathans-handover-note/

There is hardly a newspaper that has not this story and more. Please be honest with yourself.

Maaaaaaaan I said he gave the handover notes late not that he didn't give them at all. Stop it man.

Let us tighten our belts for AUSTERITY

LoveMachine:



Maaaaaaaan I said he gave the handover notes late not that he didn't give them at all. Stop it man.

Sorry, perhaps that is what you had in mind, but definitely not what you wrote. Go through your post again and be convinced that I am not attacking you, but the falsehood in your post.

lalasticlala front page please

SirBrightoc:


Sorry, perhaps that is what you had in mind, but definitely not what you wrote. Go through your post again and be convinced that I am not attacking you, but the falsehood in your post.

Family you are 100% correct I mistyped. I apologize for my error. The Ahmed Joda Commission got the notes late but they most certainly got them. I hope we are good. I fully own up to my mistake. Forgive my error and thank you for pointing it out. Peace.

LoveMachine:


Family you are 100% correct I mistyped. I apologize for my error. The Ahmed Joda Commission got the notes late but they most certainly got them. I hope we are good. I fully own up to my mistake. Forgive my error and thank you for pointing it out. Peace.

You are a great man. Welcome sir.

SirBrightoc:


You are a great man. Welcome sir.

Likewise. Let's keep it peace. Too black. Too strong. Black love=Black Power. Peace fam.