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|Nigeria To Sell, Buy Oil Directly, Cut Out Middlemen---washington POST by ISpiksDaTroof: 12:41am On Nov 04, 2015|
Nigeria to sell, buy oil directly, cut out middlemen
By Michelle Faul | AP November 3 at 4:04 PM
LAGOS, Nigeria — Nigeria will start selling and buying oil and gasoline directly to cut out middlemen and curb graft, the new managers of the Nigerian National Petroleum Corp. announced Tuesday night.
The major policy shift fits new President Muhammadu Buhari’s plan to halt corruption endemic in the industry in Africa’s biggest oil producer. The previous administration of President Goodluck Jonathan had ignored warnings from Central Bank Governor Lamido Sanusi that some $20 billion in oil sales over three years was missing from federal coffers, and instead fired Sanusi.
Nigeria produces 2 million barrels of crude a day, according to the corporation’s website. Nigerians consume about 9 million liters (2.4 million gallons) of gas daily, almost all imported because local refineries are inefficient. One barrel of crude produces about 30 gallons of diesel or fuel.
A statement from spokesman Ohi Alegbe said the decision was made after a screening of previously used and prequalified petroleum product importers revealed almost all the 34 international and 10 local companies were middleman businesses.
The shift is “a major steer designed to enshrine transparency and eliminate the activities of middlemen in the crude oil exchange,” said the statement from the corporation’s new management. One of Buhari’s first acts as president was to fire all the old managers.
Corruption that thrived under Jonathan’s watch had favored officials being sold entire shipments of crude at favorable rates so they could pocket the profits. The U.S. Department of Justice warned Buhari earlier this year that one minister had pocketed $6 billion from oil sales.
The massive thefts came as oil prices topped $110 a barrel. Now Nigeria is in crisis, with halved prices for the oil that provides 80 percent of government revenue and Buhari has complained he inherited an emptied treasury.
Copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
|Re: Nigeria To Sell, Buy Oil Directly, Cut Out Middlemen---washington POST by Sarang(f): 12:42am On Nov 04, 2015|
Dedicatin this to Light..
Hit like and share to save a life.
Checkout my signature.
|Re: Nigeria To Sell, Buy Oil Directly, Cut Out Middlemen---washington POST by globalresource: 12:57am On Nov 04, 2015|
We believe in you and in God we trust. Ride on
|Re: Nigeria To Sell, Buy Oil Directly, Cut Out Middlemen---washington POST by ril19(m): 1:06am On Nov 04, 2015|
Somebody Tell Me Why Jona Go Use Middle Men In The First Place If No Be To Thief. Mtcheeew
|Re: Nigeria To Sell, Buy Oil Directly, Cut Out Middlemen---washington POST by peterovanski(m): 1:12am On Nov 04, 2015|
|Re: Nigeria To Sell, Buy Oil Directly, Cut Out Middlemen---washington POST by omenka(m): 1:26am On Nov 04, 2015|
Awesome!! The most useless party in Africa and indeed the world, says Baba's utterances and strategy is "demarketing" Nigeria, meanwhile those to whom he's trying to sell his ideas think otherwise.
Only those with irreparably abused minds and perpetually sore losers would NEVER see the good intentions and deeds of this gentleman for our common good.
My faith in this man remains unwavering as he methodically performs the much needed surgical procedure on this patient that was rushed into the ER on May 29th.
Now Goats would be forced to eat grass which was what God in his infinite wisdom designed they to eat from creation. But somewhere along the line, the natural course of event was altered, the door to the barn was left wide open, and our Goats all became Ajebo Goats that fed exclusively on Yams and lost the appetite for grass, they grew so fat we started mistaking them for Buffalo.
I expect some initial resistance as they are forced out of the Barns into the fields to feed on their natural staple, but of course we know it would all be in futility- they only run the risk of starvation should they insist on Yams.
May God continue to direct your hands Mr President. Slowly but surely, we are on the path towards a full recovery.
God bless Nigeria.
Cc: Modath. The music has gone international.
33 Likes 7 Shares
|Re: Nigeria To Sell, Buy Oil Directly, Cut Out Middlemen---washington POST by omenka(m): 1:28am On Nov 04, 2015|
Lalasticlala when you wake up please check this out.
The church across the street has denied me sleep tonight.
|Re: Nigeria To Sell, Buy Oil Directly, Cut Out Middlemen---washington POST by Horus(m): 3:18am On Nov 04, 2015|
[size=15pt]NNPC Opens Bids For The Sale Of Nigeria Crude Oil[/size]
|Re: Nigeria To Sell, Buy Oil Directly, Cut Out Middlemen---washington POST by Nobody: 3:38am On Nov 04, 2015|
I dey tell you. Jonathan is the worst President ever, in Nigeria's history, but ofcourse, his die-hard fans still see him as a hero. A sore loser, a weakling & a bastion of corruption who had to concede defeat after he tried all manner of kindergarten tricks to manipulate the election but failed woefully.
I have really missed his “GEJ Till 2019” robots. I hear their new slogan now is “This Zoo Must Fall” - Useless nonentities!
16 Likes 2 Shares
|Re: Nigeria To Sell, Buy Oil Directly, Cut Out Middlemen---washington POST by dustmalik: 3:44am On Nov 04, 2015|
omenka:Lol... If this thread doesn't make FP, then my concerns over the mods would have been confirmed. They seem not to be pushing much contents that brings this administration into positive light. The first thread that cited this yesterday, though the source was a Nigerian daily, didn't make it to front-page.
These days, all they do is push useless contents to FP, like Fayose buying Akara on the road.
|Re: Nigeria To Sell, Buy Oil Directly, Cut Out Middlemen---washington POST by lorbah001(m): 4:13am On Nov 04, 2015|
See difference between a certified JONAH nd certificateless BUBU
Buhari u got us , you don't need them cuz they had their time but what did they do with it...........bleeped the nation to 'brokeness'.
|Re: Nigeria To Sell, Buy Oil Directly, Cut Out Middlemen---washington POST by wwww333: 6:50am On Nov 04, 2015|
A MUST READ 4 ALL MEN, ZOOM D PICTURE BELOW, 2 ENABLE U READ PROPERLY. 18+ ONLY
|Re: Nigeria To Sell, Buy Oil Directly, Cut Out Middlemen---washington POST by omenka(m): 6:55am On Nov 04, 2015|
I expect the cries of secession to increase three folds.
These are the people sponsoring all that nonsense in the hope of distracting the government and ultimately crystalising chaos which would ensure they keep making abominable profits at the expense of the common man.
They see Baba as a threat to their control of the levers of our polity/economy and would do anything, regardless of its propriety, to ensure they perpetually lord it over us.
Toss a few change here and there they would, and the same people we saw yelling GEJ till thy Kingdom come from every rooftop and treetop they could have a foothold would be the ones shouting "Biafra", "death to the zoo"!!
|Re: Nigeria To Sell, Buy Oil Directly, Cut Out Middlemen---washington POST by subterfuge: 7:04am On Nov 04, 2015|
THIS IS THE FIST THING THAT BUHARI SHOULD DO SO AS TO CUT OFF THE OIL CABALS FROM THE SCHEME OF THINGS COMPLETELY.
WE DONT NEED CABALS TO HIJACK AND RUN THE ECONOMY ANYMORE.
|Re: Nigeria To Sell, Buy Oil Directly, Cut Out Middlemen---washington POST by gwales: 7:05am On Nov 04, 2015|
Lalastica your attention is needed here
|Re: Nigeria To Sell, Buy Oil Directly, Cut Out Middlemen---washington POST by DelGardo: 7:05am On Nov 04, 2015|
Responsible government no dey hide.
Today we know what is happening in NNPC through monthly reports, which were never produced, let alone publicised. As someone said up there, now middle men (goats) are being removed from crude and fuels trading (yam) without too much drama.
And some wailers are still looking for the change.
The dumb deaf and blind!
3 Likes 1 Share
|Re: Nigeria To Sell, Buy Oil Directly, Cut Out Middlemen---washington POST by viktagorion: 7:42am On Nov 04, 2015|
If we don't kill corruption, corruption will kill Nigeria.
Carry on Mr President, we got your back.
That's the reason I voted for Muhammadu Okechukwu Ilufemiloye Buhari.
|Re: Nigeria To Sell, Buy Oil Directly, Cut Out Middlemen---washington POST by Gbawe: 8:00am On Nov 04, 2015|
This is a game-changing but expected development. Indeed this was the cornerstone recommendation of the Ribadu petroleum task force contained in the report the former EFCC boss handed over to GEJ only for our master looter former President to bin the report and begin hounding Ribadu.
From time immemorial, the entire world has stated that Nigeria must stop using middlemen for its oil sales/purchase as this singular policy robbed Nigeria of billions of dollars. In fact the policy is considered the most harmful to Nigeria with how it made many dollar billionaire yet kept ordinary Nigerians impoverished because the money meant to provide them with opportunities was being looted copiously by a few through the wicked and self-serving arrangement the evil PDP put in place. I remember stating it here that GEJ only notable achievement was the creation of a private jet empire for the most corrupt individuals in Nigeria from the oil industry alone!!!
One PDP president after the other sustained the policy because they were all crooks (OBJ and GEJ) or simply not resolute/strong enough to change the horrid status quo (Yar Adua). In PMB we now have an ascetic President, not interested in material wealth or mansions, who will not flinch or waver when it comes to making the major and fundamental changes that will rescue Nigeria and reposition her to achieve greatness as a nation. This is why I supported Buhari completely. I.e his disinterest in material wealth combined with his innate bravery and love of Nigerians that will see him 'go there' and do what must be done to better the lives of ordinary Nigerians no matter whose Ox is gored. This is a stupendous development and people will not understand what this means for Nigeria until the policy officially swings into place.
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|Re: Nigeria To Sell, Buy Oil Directly, Cut Out Middlemen---washington POST by Gbawe: 8:17am On Nov 04, 2015|
We have said it all before. GEJ and co destroyed Nigeria because of unconscionable greed and materialism. Let the usual tribalist and clannish element continue to praise GEJ, a worthless leader, and continue condemning PMB, a decent man not afraid to do what will develop Nigeria, because of the prejudice destroying their souls and reasoning. The question those people will have to confront sooner or later is whether they must put prejudice aside to now support a man doing what they told us can never be done to the glory and greatness of Nigeria.
|Re: Nigeria To Sell, Buy Oil Directly, Cut Out Middlemen---washington POST by Gbawe: 8:21am On Nov 04, 2015|
GEJ will be thoroughly disgraced and shown up for the enemy of Nigeria he was by the time PMB has fully swung into action. Nigeria truly dodged the bullet by voting that shockingly horrid and corrupt president out of office.
|Re: Nigeria To Sell, Buy Oil Directly, Cut Out Middlemen---washington POST by BALLOSKI: 8:28am On Nov 04, 2015|
I don't think Jonathan and his 'cronnies' should be forgiven.
|Re: Nigeria To Sell, Buy Oil Directly, Cut Out Middlemen---washington POST by Gbawe: 8:36am On Nov 04, 2015|
My people, shey una dey see wetin OBJ, Yar Adua and GEJ refused to stop, even though it was killing Nigeria, that PMB is now about to put an end to? Mr.Bigot, Mrs.Tribalist, Messrs.'We hate ab0k1' and Ms.'See no wrong with GEJ because he is my kinsman' when will basic decency, if you have any left in you, make you acknowledge the damage GEJ has done and get behind the man, PMB, bravely trying to go where others have refused to go in his effort to fix the rot?
Fuel Subsidy Rip-Offs: Wikileaks Reveals How NNPC Cost Nigeria Billions of Dollars
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|Re: Nigeria To Sell, Buy Oil Directly, Cut Out Middlemen---washington POST by Gbawe: 8:41am On Nov 04, 2015|
Same here. Buhari is a highly principled individual who believe people in leadership must be accountable to the people. Nonetheless his focus currently is on rescuing Nigeria. In the future, anything could happen . Right now the focus has to be on Nigeria because GEJ and his cronies butchered our nation horribly and left her for dead.
|Re: Nigeria To Sell, Buy Oil Directly, Cut Out Middlemen---washington POST by Gbawe: 8:51am On Nov 04, 2015|
Indeed. This is the reason so many voted for PMB and the APC. This is a major and revolutionary policy change that will transform Nigeria simply by making far more money available to Nigeria through defeating the scams and looting these sort of evil and self-serving PDP-driven policies promoted.
|Re: Nigeria To Sell, Buy Oil Directly, Cut Out Middlemen---washington POST by bettercreature(m): 8:59am On Nov 04, 2015|
So oshiomole was actually saying the truth that USA told them somebody stole $6 billion
4 Likes 1 Share
|Re: Nigeria To Sell, Buy Oil Directly, Cut Out Middlemen---washington POST by EasternLion: 9:00am On Nov 04, 2015|
But why must everything about Nigeria be about oil sef.?
|Re: Nigeria To Sell, Buy Oil Directly, Cut Out Middlemen---washington POST by Gbawe: 9:07am On Nov 04, 2015|
All the anti-PMB elements, cat got your tongue? At least these sort of development showed the refinement of the APC supporters and bore out the notion we genuinely care about the development of Nigeria above everything else. When GEJ did the right thing, which was almost never, we put our difference with him aside to praise him. I remember myself, EKT bear, Pukkah and other ACN supporters (later APC) coming out to praise GEJ on NL when he began the power deregulation exercise. Of course we had our doubts, which was eventually proven correct, but we still praised GEJ at the time the move was made because it was the right thing to do. I.e support a move, and whoever is behind it, that was positive and that we know could deliver progress for our nation.
Buhari will never get the same grace and courtesy from his detractor because many are hardened bigots, ethnic jingoists and religiously intolerant folks who are more concerned with maintaining enmity with PMB, because of innate prejudice against him, than they are with the progress of Nigeria. In fact the more PMB does well the more these wicked elements die inside and wail more. Imagine such a revolutionary and transformational policy shift, one of those capable of turning around the fortunes of Nigeria, yet not a word from a 'wailer' so far
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|Re: Nigeria To Sell, Buy Oil Directly, Cut Out Middlemen---washington POST by Gbawe: 9:11am On Nov 04, 2015|
So that is all you can see and say about a major development, one of the most pivotal since our current democracy began in 1999, that will make Nigeria's oil wealth work for you, your family and other ordinary Nigerians instead of ending up in the bank account of a few connected to the government of the day? Can you not see this is not about oil per se, which will continue to flow anyway, but about how income Nigeria gains from oil and spending she makes on purchasing refined derivatives of crude is managed properly to the benefit of Nigeria and her ordinary citizens? This is not about oil but about saving upwards of 10-20 billion dollars yearly that can then be used to develop Nigeria !!!! You guys are simply incredible with how you deliberately remain blind to what is obvious and can simply never give credit where due.
|Re: Nigeria To Sell, Buy Oil Directly, Cut Out Middlemen---washington POST by Nobody: 9:18am On Nov 04, 2015|
Zoharariel:the Zoo is already falling on their head cos their nnamdi kanu is currently having gay sex in jail with boko haram militants who have jettison the idea of 72 virgins.
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|Re: Nigeria To Sell, Buy Oil Directly, Cut Out Middlemen---washington POST by neolboy(m): 9:21am On Nov 04, 2015|
No more fuel scarcity, no marketers will be holding a nation of about 140million citizens to ransome
|Re: Nigeria To Sell, Buy Oil Directly, Cut Out Middlemen---washington POST by Gbawe: 9:30am On Nov 04, 2015|
Thank you !!! Imagine the horrid PDP-led policy that has made these conmen marketers oil kingpin who could swiftly deliver misery on Nigerians any time they desired? Yet the biggest black nation on earth always had the option of dealing directly with those it sells oil to and with refineries it could buy refined derivatives of crude from. Me and you know why the PDP never allowed Nigeria to utilise the direct dealing route. This would simply close the avenue of graft and non-transparent 'abracadabra' they were using to loot Nigeria blind. God bless PMB and strengthen his hand because lord knows this fight will not be easy.
Many powerful men and women will be wailing today and wishing Buhari all manners of misfortune or death like the thug governor Fayose did, daily and routinely before the elections, all in hope GEJ would continue so that the private jet-level enrichment of 'awon boyz' would also continue. We will continue to pray for Buhari. May he live to age 90 and long after he has successfully reformed Nigeria and taken his Mandela-like place in history as a great and selfless leader who gave his all for his nation and people.
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