Troops will remain in the Niger Delta to safeguard oil installations, the Joint Military Task Force (JTF) has declared - eight days after the end of amnesty.
And Petroleum Minister, Rilwanu Lukman, disclosed at the weekend that Nigeria now produces between 1.6 million and 1.7 million barrels per day (bpd) and is sticking to its quota allocated by the Organisation of Petroleum Exporting Countries (OPEC).
That translates into earning N18 billion a day.
Lukman said oil output reached 1.7 million barrels when the amnesty lasted from August 5 to October 4.

The highlighted text has a keyword earning

My dictionary says earning = net income

Net income = The excess of revenues over outlays in a given period of time (including depreciation and other non-cash expenses)

My point, all those expenses/operating costs etc you outlined had already been factored in (or out) before arriving at N18 billion.

I stand to be corrected.

How I wish we have good and visionary leaders.

,And our money grubbing leaders steal it for their personal problems.

for us to even be talking of earning N18b daily we must not forget to commend the president on the amnesty issue cos he won the battle against the militancy without a gunshot he is indeed a man of peace, based on this i enjoin all of us, law abiding citizens of dis country to support the president as he tries to achieve what has never been achieved in this country.
if he could solve the nigerdelta/militant problem without unnecessary chaos i believe that once the due process is firmly established in this country every other thing will fall in place, rideon Mr President

George_D:

no matter how you juggle it, 18billion naira is still an awful lot of money.

I can see that u have been properly educated my bro, we are talking about earnings here,profit after deducting all the expenditure,

I find it hard to believe that a good number of people didn't know that the main reason the Govt offered the amnesty is economical. But let us be

frank, N18 billion per day isn't small money, what is it being used for? GOD help Nigeria from a merciless ruling class bent on ruining our economy

and making the common man poorer by the day.

This post reminds me of a quote i came about recently,by a Maurice Bishop "You can call it blasphemy. I dispute the scriptures assertion that

GOD(emphasis mine) is everywhere. He is not in the minds of our rulers, ".

This quote aptly describes the Nigerian situation @ present.

jaybee:

your responses are laughable. they betray your individual and collective ignorace. that's how writers (rabble-rousers, insinuators, provocators, inciters, speculators etc. ) program you to think, feel, talk, behave and probably act; like robots.

now 1.7million barrels per day translate to N18Billion a day. do you know how much it costs to  produce one (1) barrel of oil ? do you know what constitutes the cost of production? do you know what percentage of the cost is paid by government? do you know what percentge of the profit goes to the government? do you know what percentage of the cost is paid by the producing companies? do you know what percentge of the profit goes to the producing companies? do you know the incubation period for oil and gas field development? these are just few tips to let you know that oil and gas business is far more than just number of barrels times number of nairas (dollars).

CORRIGENDUM: i meant to quote jaybee and not George_D, my apologies to George_D.

I can see that u have been properly educated jaybee, we are talking about earnings here,profit after deducting all the expenditure,

I find it hard to believe that a good number of people didn't know that the main reason the Govt offered the amnesty is economical. But let us be

frank, N18 billion per day isn't small money, what is it being used for? GOD help Nigeria from a merciless ruling class bent on ruining our economy

and making the common man poorer by the day.

This post reminds me of a quote i came about recently,by a Maurice Bishop "You can call it blasphemy. I dispute the scriptures assertion that

GOD(emphasis mine) is everywhere. He is not in the minds of our rulers, ".

This quote aptly describes the Nigerian situation @ present.

another evidence that Nigeria is failed state. A small group of militants brought it down to its knees. Just imagine when we have all these quasi militias all over the place eg OPC, Boko Haram, Zango Kataf, Massob, Mend and Co. Mend shows that it can bend the will of the govt.

marvix:

for us to even be talking of earning N18b daily we must not forget to commend the president on the amnesty issue cos he won the battle against the militancy without a gunshot he is indeed a man of peace, based on this i enjoin all of us, law abiding citizens of dis country to support the president as he tries to achieve what has never been achieved in this country.
if he could solve the nigerdelta/militant problem without unnecessary chaos i believe that once the due process is firmly established in this country every other thing will fall in place, rideon Mr President

What other support do he need to achieve all his empty promises?
Amnesty is not what the ND people need, what they need is a good life, good medical health care, infrastructure being put in place or pass the bill for states resource control. If not this is jst like taking panadol temporarily for malarial instead of the proper cure.
How many Niger Delta benefited from the amnesty? Only the criminal parts of MEND who joined MEND becoz of what they will benefit from the government. Those that fight for the real course will never give up until they achieve their aims, which is bringing Justice to the people of ND.
Lets see how many months this will last b4 you start hearing another blast on pipelines.

your responses are laughable. they betray your individual and collective ignorace. that's how writers (rabble-rousers, insinuators, provocators, inciters, speculators etc. ) program you to think, feel, talk, behave and probably act; like robots.

now 1.7million barrels per day translate to N18Billion a day. do you know how much it costs to produce one (1) barrel of oil ? do you know what constitutes the cost of production? do you know what percentage of the cost is paid by government? do you know what percentge of the profit goes to the government? do you know what percentage of the cost is paid by the producing companies? do you know what percentge of the profit goes to the producing companies? do you know the incubation period for oil and gas field development? these are just few tips to let you know that oil and gas business is far more than just number of barrels times number of nairas (dollars).


I think mate you are the one who need to get enlighteed on this. The article didnt talk abt sales per day. It talked abt earnings. That translates into earning N18 billion a day. and when you say earning you are talking abt income. As business man you determine your earnings or income after you deduct all those expenditure you mentioned above which give you the Net profit. That stands are your income or earning for the year,month or day depending on your accounting procedure.

Am just suprised that many Nigerians are shouting at this as if we just knew Nigerian income per day. Even when crude oil price rose at its peak( above 100usd per barrel) far beyond the budget for that year and Nigeria was in full position to meet up with the OPEC quota then {2million barrels per day}. We had nothing to show for it, absolutely nothing to show for the excess and unexpected income, how much more now that we cant even meet up with initial quota which was 2milliom barrel per day and the price of crude has falling to about US$73/barrel. Infact you guys should go to sleep and dont expect much coz this is jst normal to our govt.
I actally meant to explain the same thing but its a nice thing this is an educative forum and so everyone has got the difference between earnings and income.
All hail NAIRALAND!!!!!!!!!!!!!!

The problem with most of us is Math, with 1.7M outputs we are going nowhere. Guys focus more on math than grammar. 

marvix:

for us to even be talking of earning N18b daily we must not forget to commend the president on the amnesty issue cos he won the battle against the militancy without a gunshot he is indeed a man of peace, based on this i enjoin all of us, law abiding citizens of dis country to support the president as he tries to achieve what has never been achieved in this country.
if he could solve the nigerdelta/militant problem without unnecessary chaos i believe that once the due process is firmly established in this country every other thing will fall in place, rideon Mr President

I would love to think so.

princekevo:

What other support do he need to achieve all his empty promises?
Amnesty is not what the ND people need, what they need is a good life, good medical health care, infrastructure being put in place or pass the bill for states resource control. If not this is jst like taking panadol temporarily for malarial instead of the proper cure.
How many Niger Delta benefited from the amnesty? Only the criminal parts of MEND who joined MEND becoz of what they will benefit from the government. Those that fight for the real course will never give up until they achieve their aims, which is bringing Justice to the people of ND.
Lets see how many months this will last b4 you start hearing another blast on pipelines.

Tell them. Just to tell you that crime pays. These militants are very wealthy. I once saw Asari in a wedding; men he was looking cocky and good with himself. He had his entourage of respectable people flocking around him. The guy look fresh sha. It was his brother's wedding

Earning is not the problem but the issue is what is going to be done with this money?. Yesterday, the Speaker of the House of representatives argued that the niger Delta has enjoyed nothing more than neglect by the FG.

sayso:

That means those thieves are earning $46,928,571,428.,that is approximately Forty six Trillion dollars in a year.

You are not good at Maths.

Whoa! upon all these billions we are still suffering in our country. na wa ooo,

What other support do he need to achieve all his empty promises?
Amnesty is not what the ND people need, what they need is a good life, good medical health care, infrastructure being put in place or pass the bill for states resource control. If not this is jst like taking panadol temporarily for malarial instead of the proper cure.
How many Niger Delta benefited from the amnesty? Only the criminal parts of MEND who joined MEND becoz of what they will benefit from the government. Those that fight for the real course will never give up until they achieve their aims, which is bringing Justice to the people of ND.
Lets see how many months this will last b4 you start hearing another blast on pipelines.



Mr prince all that u said is needed by the niger deltans can we provide it in an atmosphere of unrest, my answer is NO the president has shown that he has the capacity to solve problems infrastructures can not be provided and completed in sixty days good life will not come overnight and a nation does not ever stop developing its medical facilities and infrastructures. I know that the militants who came out to accept the amnesty are not all criminals some of them fought nd believed that they were fighting for their communities, but at a critical time like this the nation needs a clean slate to start afresh and that is what the president has asked for and that is what he is getting now his job as just begun as he captured it when he said "Today i make this pledge that hte work in the niger delta has just begun".

maybe you should also consider the other options the president had before choosing the amnesty option, he was asked to use the JTF to flush militants out and on that attempt we lost more civillians than militants the Americans wanted us to invite their marines yet  my president declined this sort of scenario is what we had in sudan darfur and they are yet to have peace. Let us all thank yaradua for making the militants surrender without resorting to a civil or militant war and pray that his God would continue to lead him to lead us out of this state we have found ourselves in

At least we can now ask ourselves who the real terrorists are. Are they our wicked leaders or our brothers from the respective oil producing areas who are fighting for justice? The same rogues since 1960 that Nigeria got its independence are still in Power. The same horses but different riders. Check this out guyz, I just want to deviate here a little bit. The current president in Kenya, Kibaki ,was in government during Obama's dad time and he was among those in government that frustrated Obama's dad because he was from a Luo minority tribe. Because of that, Obama's dad left for the USA and that was where he met Obama's mum and they had Obama. Today, after more than 40 years, Kibaki is still in power in Kenya and the son of the man he frustrated is the president of USA.

good but i think two wrongs never make a right.

George_D:

good but i think two wrongs never make a right.

Neither does one persistent wrong! Human beings learn to be humble, respectful and considerate in different ways. Some learn out of long time suffering, others out of disappointment, resistant from people they look down upon.

I tell you what my brothers, Jesus Christ was very humble while here on earth but what happened in Jerusalem when He got there and saw people trading in the house of God. He totally lost it! Did'nt Him? One would have thought that Jesus Christ could have sat back and said' TWO WRONGS DONT MAKE A RIGHT! We are talking about the birth right of over 150 million Nigerians that very few are trampling upon since 1960. SHOCKING AND SHAME TO ALL OUR LEADERS! THEY SHOULD ALL DIE IN SHAME, THEY ARE NOT MEN ENOUGH.

The next wave of disquiet in the Niger-Delta will make yesterday's pale in comparison, just like Saro-Wiwa made Adaka Boro look like chicken-feed and MEND made Saro-Wiwa look like chicken-feed. This N18bn per day or whatever is temporary reprieve for Naija and a pyrrhic victory for Yar'Adull. A false peace bought by a false amnesty. You will hear from ND soon enough. Dont cross your fingers.

asunaobi:

Neither does one persistent wrong! Human beings learn to be humble, respectful and considerate in different ways. Some learn out of long time suffering, others out of disappointment, resistant from people they look down upon.

I tell you what my brothers, Jesus Christ was very humble while here on earth but what happened in Jerusalem when He got there and saw people trading in the house of God. He totally lost it! Did'nt Him? One would have thought that Jesus Christ could have sat back and said' TWO WRONGS DONT MAKE A RIGHT! We are talking about the birth right of over 150 million Nigerians that very few are trampling upon since 1960. SHOCKING AND SHAME TO ALL OUR LEADERS! THEY SHOULD ALL DIE IN SHAME, THEY ARE NOT MEN ENOUGH.

i feel you bros. carry on!

we will get there one day, before 2020, alot of things will change in this country, evil can not prevail forever.

we are getting there already.

we are finished, see barr, chei.[color=#770077][/color]

you mean you are finished?