989900B:




Says Bozo the clown.

APCHaram:


[s]You have showed a knack of refusing to take solid correction.

I have dispelled all you half truths on this thread starting with your misconceptions of oil revenue and production levels in the early 70's.

I am only responding to you because some random ignoramus may assume your position as correct when in effect it is total bullocks.

You can start the insults followed by posting memes but that only proves you have no more argument.

Try get an education sha because you are obviously heavily ignorant on issues you chose to argue over[/s].

989900B:


Who was the president of Nigeria in 1964?

APCHaram:


What was the title president in 1964 compared to that in 2016.

Use brain.

The German President is the heard of the German parliament and also in terms of protocol the number one citizen but the Chancellor has more constitutional power than the President.

Why is Saraki called the President of the Senate?

989900B:
.

989900B:


Simple question, answer it. I accept all you've called me, but answer the damn question: who was the president in 1964?

APCHaram:


[s]Frustration setting in.

Why not accept your folly

Nobody knows it all and we are all still students of life.

You have shown stubbornness and arrogance in the face of facts.

But you ought to know the facts don't give a rat's ass how you feel and that's why it's called the bitter truth.

Rather than feel humbled, see it as another lesson learnt.

Only stubborn goats behave like this.[/s]

APCHaram:


Guy, don't let your fellow APC urchins see this your post.

Go and ask your uncles (the educated ones) if the title president in 1964 is the same with that today.

The fact remains that oil concessions where not issued on a federal level but by the regional govt of both mid western and eastern Nigeria respectively.

If you like believe it or not it won't change the fact.

989900B:
I'm wondering too. We have $27b that could cover over 12 months of imports, but baba/Emefiele prefers to starve the economy of needed Forex.

Maybe someone else can explain this.

989900B:


Answer the damn fxcking question. Or, does it make a f00l of all your held 'assumptions' . . .

Nnamdi Azikwe:
Governor-General and Commander-in-Chief of Nigeria (1960–63);

President of the Republic of Nigeria (1963–1966);

With Tafawa Balewa as Prime minister of the federation (Nigeria).

Thank me later, now go back and edit your ill thought-out posts.

7lives:


You mean Nigeria should spend her remaining foreign reserve? you better go and Google what normally happens to countries without external reserve.
Anyway this is my main reason for voting against the other nincompoop, spend the reserve?,Lord have mercy.

APCHaram:


Straw man argument


So Azikwe was in charge of issuing and granting oil licences?

You funny.

Keep grasping at strwas

7lives:


You mean Nigeria should spend her remaining foreign reserve? you better go and Google what normally happens to countries without external reserve.
Anyway this is my main reason for voting against the other nincompoop, spend the reserve?,Lord have mercy.

989900B:


[i]Thanks for commenting, those guys actually just derailed this thoughtful thread for inanities.

APCHaram:


I am OP ode!

You want a trophy, Bozo?

OTOH, "you are OP ode". . . for real

989900B:


You want a trophy, Bozo?

OTOH, "you are OP ode". . . for real

989900B:


Meh.

The point is, Nigeria was a federal state, with a president.

Not some jumbo-mumbo mismatched entity then.

IBB started the issuing license to friends and cronies thing.

989900B:

Was there a country called Biafra in the late 50s and early 60s that oil majors signed agreements with, or was that the name for the 'Niger-Delta' area then?
Shell, Chevron, Mobil and others were already fully functional here between 1958-1963.
Even if we assume for a second that production was sustained @ 2 million barrels/day for all that period (no drop in production) with prices at $12-$14/ barrel between '76-'78 when Buhari was federal commissioner of that industry, take out JV shares and cash calls, that's still roughly $300m*12=$3.6B say $4b/ annum, actually less, when you subtract the part of the crude that goes to our refineries, and cost of running the NNPC itself.

APCHaram:



[s]You have no argument

You only succeeded in displaying your ignorance.

Keep bumping the thread on politics fp.

That's your only use here.

Mumu[/s]

APCHaram:


So why did you say that oil concessions began in the 1950's?



Try to be consistent with your argument.

Nationalisation began in the 70's by the Federal military govt.

You just dry yarn dust.

989900B:


Comprehension issues . . . o ma a se o.

APCHaram:



[s]Keep bumping my thread with your stup1dity.

You will serve as both a comic relief and a typified example of an ignorant APC zombie [/s]

989900B:

APCHaram:


[s]Ran out of insults, abi?

Keep bumping...

Ignoramus [/s]

APCHaram:


Lolz...


Ignoramus keep bumpin

989900B:
.

ShinnBet:


He is fighting corruption and can't see the likes of Amaech, Fashola, Fayemi and Tinubu and still goes on to take their corrupt loot without questioning the source.


Abeg forget the hypocrite Buhari

Only a fool will believe this duara scammer


Here is a man who has never honored any public inquiry into his administration of public funds.

He was the pioneering minister of petroleum in the 70's where $4bn disappeared into thing air. Adjusting for inflation and interest rates, that stolen NNPC funds of $4bn under his watch is over $20bn in today's economy - the same amount they falsely accused GEJ of stealing.

He never bothered to attend the Senate commission setup to investigate the missing NNPC funds. But today he is talking trash about phantom looted NNPC funds.

He refused to attend a board of inquiry setup by Obasanjo to probe PTF funds disbursed to him under the Abacha regime.

And today he has the audacity to point fingers at others being corrupt.

I just feel highly disgusted when I watch the duara goat talking corruption whenever he goes abroad knowing fully well that his hosts are aware of his checkered corrupt past.

The man is by far a hypocrite and thief of the worst kind.

His anti corruption war is meant to silence opposition and nothing more.

ShinnBet:


I lol.

You my friend are stuck in pre-Nixxon era.

The dollar is not buoyed by gold reserves since the early 70's when the gold standard was discarded.

The US currency is buoyed by the US govt's ability to force other smaller nations in accepting their worthless paper dollars as a means of trade.


That my friend is why you still remain a colony.

Since the cancellation of bad debts owed by African countries, Western institutions like the IMF and World Bank then went to recoup their debts owed to them by western banks.

This is where the real recession of the mid 2000's began. It then spiralled into the sub prime mortgage markets.

For Western banks to remain afloat there must be liquidity flow into them and preferably from outside the west.

The US buys your oil in exchange for worthless dollars which you are told not to spend in order not to cause a deflation I the value of the dollar but to save in same western banks which they will then loan to their own conglomerates at a very low interest rate to which you are expected to buy the finished goods.


This is the oldest economic model, modelled after the west African triangular slave trade where worthless mannilas where exchanged for slaves and palm oil.