Slynation:
This is Critically critical.....!! I'm Atikulated but seems like Atiku shot himself on the leg with this proposal.

"The governor of Kaduna State, Nasir el Rufai, has said Nigeria must do away with its “corrupt” oil company, the Nigerian National Petroleum Corporation, NNPC, or stand the risk of itself being destroyed.If you don’t kill the NNPC, it will kill Nigeria,” Mr. el-Rufai said...

Mr. El-Rufai said the NNPC has become so entrenched in corruption that the only way out for Nigeria is not to attempt to salvage the corporation, but to destroy it and create a new oil company.He said he hoped President Muhammadu Buhari will implement that proposal...."

sogodihno:
God bless you, most of these people supporting Atiku are ignorant and are blinded by hate, haven't u read when most of them say; even if Atiku kill their father and rape their mother, they will still vote for him, at this stage anything to remove Buhari is welcome, even if it means burning the country.

Atiku supporters are PMB haters that gathered together, if Atiku enter now(God forbid) they will start shouting again, Atiku that sold everything when he was VP and is thing planning to sell more.

if you are to be sincere with ourselves and remove hatred, PMB is doing more with less,(oil price has dropped significantly compare to GEJ time) we don't expect those years of looting by PDP not to have consequence, u expect a mess of 16 years to be fix in just 4 years?

PMB is fixing this country, let's be patient with him.
PMB, My vote and that of my family is for u.

ezugegere:
You obviously don't understand what you're posting. Selling NNPC automatically leads to complete deregulation of the oil sector. Selling NNPC doesn't mean handing over our oil to the owners of NNPC. Forex comes from sale of crude oil and notfrom NNPC. The only reason CBN gets Forex from NNPC is because NNPC is currently responsible for selling the crude. NNPC as it is today can sell crude of N10 and remit only N2 to the Federal government account. They will tell you that they have used the remaining N8 to maintain piplines and some other things. No check and balances.

Curlieweed:


On the contrary, that will be the ultimate anti-corruption measure ever.

NNPC has been the hot bed of corruption like forever. Sell it and obliterate corruption. Why do you think OBJ and Mumuharri acted as Ministers for Petroleum?

Regarding, the Forex non-issue, the new owners will still sell their forex in the market. Moreover, the government will still receive its 85% Petroleum Profit Tax as well as 10% Royalty all payable is US$. There shouldn’t be much of a short fall in that regards. The proceeds from the sale of the corporation will also be in Forex. Actually, the Saudis are planning a similar sale for Saudi Aramco.

Mai! I am almost sounding like an Atiku supporter but the economic reasoning is unassailable.

ezugegere:
You obviously don't understand what you're posting. Selling NNPC automatically leads to complete deregulation of the oil sector. Selling NNPC doesn't mean handing over our oil to the owners of NNPC. Forex comes from sale of crude oil and notfrom NNPC. The only reason CBN gets Forex from NNPC is because NNPC is currently responsible for selling the crude. NNPC as it is today can sell crude of N10 and remit only N2 to the Federal government account. They will tell you that they have used the remaining N8 to maintain piplines and some other things. No check and balances.

ezugegere:
You obviously don't understand what you're posting. Selling NNPC automatically leads to complete deregulation of the oil sector. Selling NNPC doesn't mean handing over our oil to the owners of NNPC. Forex comes from sale of crude oil and notfrom NNPC. The only reason CBN gets Forex from NNPC is because NNPC is currently responsible for selling the crude. NNPC as it is today can sell crude of N10 and remit only N2 to the Federal government account. They will tell you that they have used the remaining N8 to maintain piplines and some other things. No check and balances.

NASTYNASOSO:


HMMMMMMM

TTRUST ME YOU HAVE A MINISCULE IDEA OF HOW THE OIL SECTOR AS REGARDS NNPC OPERATIONS VS JV AGREEMENTS WORK.
PLEASE DON'T BRING BODIJA MARKET ECONOMIC ANALYSIS TO THIS TABLE.

NothingDoMe:
Nasco counter his analysis. The problem with this your write up is copy and paste. You don't know nothing about this and instead of you to learn or bow out you have resorted to the usual off point response. Swerve jor.

NASTYNASOSO:


HMMMMMMM

PLEASE ENGAGE ME IN ANY TOPIC AS REGARDS THE PETROLEUM SECTOR FROM RPOJECT MANAGEMENT. ENGINEERING, SUB SEA ENGINEERING, EXPLORATION AND COMMERCIALS.
IF YOU THINK YOU ARE AN EXPERT IN THE ENERGY AREA

Curlieweed:


On the contrary, that will be the ultimate anti-corruption measure ever.

NNPC has been the hot bed of corruption like forever. Sell it and obliterate corruption. Why do you think OBJ and Mumuharri acted as Ministers for Petroleum?

Regarding, the Forex non-issue, the new owners will still sell their forex in the market. Moreover, the government will still receive its 85% Petroleum Profit Tax as well as 10% Royalty all payable is US$. There shouldn’t be much of a short fall in that regards. The proceeds from the sale of the corporation will also be in Forex. Actually, the Saudis are planning a similar sale for Saudi Aramco.

Mai! I am almost sounding like an Atiku supporter but the economic reasoning is unassailable.

NothingDoMe:
Big mistake. Who tracks gas flaring on production platforms? How is it tracked? What is the minimum gas flare allowed before the penalty?

What is the current agreement with the federal government and the IOC's concerning exploration of crude oil?

Let's just go with the simple ones.

NASTYNASOSO:


HMMMMMMM

THIS IS BROWSABLE PLEASE BE MORE TACTICAL

NASTYNASOSO:


HMMMMMMM

THIS IS BROWSABLE PLEASE BE MORE TACTICAL

id911:


Please stop educating them for free! Buhari is brainless with a single digit IQ so, what do expect from his supporters

soulpeppersoup:


Oga browse it and answer his questions.

NASTYNASOSO:
*THE ECONOMIC DANGERS OF SELLING THE NNPC AS PROPOSED BY ALHAJI ATIKU ABUBAKAR*

Nigerians in November of 2018 were greeted with an economic proposal perceived to be innocuous by most quarters of the country, by the former Vice president Atiku Abubakar aka Waziri of Privatization scams.

I did a research on the direction of that economic policy what turned out was a disaster, recall this publication

I’ll sell 90% of NNPC if elected, Atiku vows, https://punchng.com/ill-sell-90-of-nnpc-if-elected-atiku-vows/

In the publication above, Atiku proposed to sell 90% of all the NNPC holdings in his future privatization moves, never mind that 56 government establishments collapsed under his privatization scams of the past. Buhari in his mercy has taken up the responsibility of paying the pensions of Atiku's privatization victims read here;

https://www.proshareng.com/news/Pensions/Pension:-FG-begins-payment-of-N17bn-to-NITEL-workers/6735

Can Nigeria survive under a sold NNPC regimen? tough question!!

why does other oil dependent economies maintain a national oil company? in Africa; Nigeria has NNPC, Angola has Sanagol, Algeria has Sonatrach, Egypt has EGPC, Libya has NOC etc.

In the Middle east; Saudi Arabia owns Saudi Aramco, Qatar owns QP, Bahrain owns BAPCO, iraq owns INOC, Syria owns the Al furat, Iran owns NIOC and so on.

In Europe: Russia has Rosneft, Norway has Satoil etc, you can see clearly that every oil dependent economy in Africa, Asia, Europe, middle east maintain an oil company.
Why is it so? A national oil company is the country's stake in its oil riches which translates to the oil wealth of the people.

What does the NNPC do for the Nigerian economy?
In a layman's term, NNPC pays for anything you use that is not produced in Nigeria, in other words, NNPC is your window to the global market.

Let us use your American imported car for example.
You wish to buy a car from the United States, the Japanese manufacturer in the US insisted you must pay in usd for the transaction, unfortunately your local bank account holds the Naira so how did you get the car eventually?
Your bank debits your naira, then pays the dollar equivalent to the US company. smart huh!!

Have you wondered where your bank or your Aboki got the USD to facilitate that transaction? my research took me to a CBN activity called Retail Dutch Auction System (RDAS) and Wholesale Dutch Auction System (WDAS), these are avenues your bank, BDC (Aboki) and every other licensed forex trader gets his supply from.

Out of curiosity, I decided to dig further where the CBN gets her forex from, the answer wasn't surprising, the NNPC!! through the following common sense processes.
Direct oil Sales (NNPC) (70%)
Petroleum Profit Tax (Oil Companies) (20%)
Royalties (5%)
Penalty for Gas Flaring (5%)
could this be the reason why every oil dependent economy has a national oil company? Is Atiku planning to steal 70% of Nigeria's oil wealth like he stole all the Niger delta sea ports for 25yrs?

We most times follow these politicians around without paying attention to the underlying message of doom they are coming with, Atiku and OBJ orchestrated the most fraudulent privatization heist in the history of this country, read here

https://www.nairaland.com/4839445/atikus-source-wealth-revealed-mohammed/1

Unfortunately, most young people that form today's voting block do not know what OBJ & Atiku represent in Nigeria's politics.
some people ignorantly argue that since NNPC is a cesspit of corruption therefore it has to be sold, my only response is, even as the cesspit of corruption, it still provides 70% of CBN's forex, if sold, where do we get those forex from? What Business is Nigeria doing today that will provide that insane amount of forex for the utilization of over 180m Nigerians? Am i supposed to borrow cars and shoes from Atiku and his friends?

In case you have forgotten so soon how Nigerians landed in poverty due to forex shortages, high cost of living, that was just a tip of what could happen when NNPC sold oil at a lower price, imagine what will happen when NNPC seize to exist.

Like everything Atiku privatized, either ended up in his pocket (Niger delta oil and gas free zones) or died out rightly (Nitel, Alscon, Delta steel, News week etc).

For Nigerians in the mid stream sector of the oil and gas industry (oil servicing companies) warming up to vote Atiku, your case is worse, 60% of your contracts are paid for by the NNPC through a process called cash calls, if NNPC is sold, has Atiku told you who will pay the cash calls? this segment of Nigerians will be the first victim of that demonic proposal, we will be watching their protest at the NNPC headquarters like we watched ex Nitel staffs in protest back in the days.

sound familiar right? https://www.uniglobalunion.org/news/nigeria-nitel-dismissed-78-workers-unions-protest-sack-order

what about the ALSCON workers huh!! sounds familiar? https://www.premiumtimesng.com/business/128089-alscon-workers-host-communities-protest-rusals-sack-of-475-nigerians.html

God will be fair to Atiku because this time he sounded the doom Trumpet of his dejavu if Nigerians ignorantly gives him the mandate to forge ahead.

With this plan, the next round of hunger will not be friendly, after voting Atiku, do not complain he promised change but brought chains, already, I can see your chain under an Atiku leadership, good luck as you do your future proud by resisting this scam in the waiting!!

We need a reformed NNPC as proposed by Ibe Kachikwu already endorsed by the US
http://nnpcgroup.com/PublicRelations/NNPCinthenews/tabid/92/articleType/ArticleView/articleId/576/US-Endorses-Ongoing-NNPC-Reforms.aspx

We need to sustain this NNPC reform that ended the perennial yuletide petrol scarcity in Nigeria, we need to sustain the policy that ended hoarding of petroleum products in Nigeria, we need to sustain this reform that ended the theft of over 400,000bbls of crude oil daily, that's what we need, selling NNPC is evil to say the least.

The only beneficiaries of this proposal are Atiku and his friends like peter obi that has the financial war-chest to buy NNPC's assets in bits and pieces, strip the assets, sell them off, become billionaire & walk away.

The big question every Nigerian going to the polls on Saturday must ask himself is; Can you live without the NNPC? by extension, can you live without your cars, smart phones, computers, foreign clothes, deodorant, building materials, books, drugs, cosmetics anything in this country that is not made in Nigeria? if your answer is NO , vote any other candidate that is not Atiku.

Racoon:


https://www.premiumtimesng.com/news/headlines/186622-nigeria-must-kill-nnpc-el-rufai.html