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Nairaland Forum / Nairaland / General / Politics / Nigeria’s $9 Billion Debt To P&ID: Everything You Need To Know (34591 Views)
₦205.19 Billion Debt: Ihedioha Condemns Uzodinma’s Unbridled Borrowing / Senate To Investigate Illegal Exportation Of Gold Worth $9 Billion Yearly / $9.6bn Judgment: FG Pays £250,000 Cost To P&ID (2) (3) (4)
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Re: Nigeria’s $9 Billion Debt To P&ID: Everything You Need To Know by adanny01(m): 8:05pm On Sep 03, 2019 |
Shoodboi: I liked the post and read every word of it. I was only disappointed when it dived into politics which i never expected to read. From the diving, it concludes that Buhari is responsible and Yaradua/Jonathan had no fault or responsibility. I asked myself this question, if Buhari is responsible for the predicament due to his inactions, when did P&ID sue Nigeria in the first place, was it 2015-2019? Why didn't the president at the time send lawyers to represent it but you expect Buhari to have done same. You said Nigerian lawyers argued in court, who sent them? My final thoughts is that a beautiful and educative post was a little bit spoilt by a little biasness. 3 Likes 1 Share |
Re: Nigeria’s $9 Billion Debt To P&ID: Everything You Need To Know by ikevictor: 8:06pm On Sep 03, 2019 |
God bless the OP 1 Like |
Re: Nigeria’s $9 Billion Debt To P&ID: Everything You Need To Know by tsdarkside(m): 8:06pm On Sep 03, 2019 |
Shoodboi: Addax petroleum,P&ID,Mirror Lake Oil and Gas Company Limited,Sinopec International Petroleum Exploration & Development Corporation (SIPC),China Petroleum & Chemical Corporation (aka Sinopec Group),Exxon Mobil shey una see now how names keep poppin up that una never heared of before...?? 1 Like |
Re: Nigeria’s $9 Billion Debt To P&ID: Everything You Need To Know by tsdarkside(m): 8:11pm On Sep 03, 2019 |
the ol europe is into this scam....!! the way they sat toghether back then in brussels or berlin or wharever and deceided to colonize you....!! dont you gerrit yet....!!?? something about lucifer is,he is very patient.... he will set it and wait for you to fall into the trap....!! he doesnt care to wait for centuries to get what he wants....!! chai.... wake up already....!! |
Re: Nigeria’s $9 Billion Debt To P&ID: Everything You Need To Know by henrijin: 8:12pm On Sep 03, 2019 |
Walahi you sabi write. You breakdown this thing. This is the first time i will actually read about this issue since i heard abiut this bogous fine. Nice one brother. Nice one. 1 Like |
Re: Nigeria’s $9 Billion Debt To P&ID: Everything You Need To Know by tsdarkside(m): 8:20pm On Sep 03, 2019 |
kiiiikkkkiki....lucifer.... the morning star.... chai....leader of hosts.... chai....una will loose against lucifer without help.... that guy is brilliant....he was leader of angels... were do you people think the word anglo saxon originate from....?? |
Re: Nigeria’s $9 Billion Debt To P&ID: Everything You Need To Know by EasternActivist: 8:21pm On Sep 03, 2019 |
Shoodboi: Man I Gat a question. What if Nigeria quits the international treaty that will waive state immunity? Also concerning smaller nations, what if they do so too. Will they still be endangered? Thanks |
Re: Nigeria’s $9 Billion Debt To P&ID: Everything You Need To Know by pat077: 8:28pm On Sep 03, 2019 |
The cabals that signed the deal should be dealt with. Also, Jonathan and buhari should be flog for their stupidity |
Re: Nigeria’s $9 Billion Debt To P&ID: Everything You Need To Know by tsdarkside(m): 8:28pm On Sep 03, 2019 |
EasternActivist: look....build your army,the way china is doing.... hope is for the hopeless.... |
Re: Nigeria’s $9 Billion Debt To P&ID: Everything You Need To Know by wirinet(m): 9:06pm On Sep 03, 2019 |
Good and well researched write up. Kudos to the journalist that penned this, but I disagree with some of his conclusions; 1. Why didn’t Buhari just pay? Buhari not paying and those four things you listed do not relate. Buhari did not pay basically because of two reasons; 1. Nigeria did not have the money as there was a crash in the oil market (remember Jonathan was also borrowing anyhow to pay salaries and buy equipments to fight Boko Haram in his last few months). 2. Buhari did not believe in paying anything in the first place. Of your four points, the one I disagree with was Buhari running this country into recession both times. In 1983, the economy was already in shambles, as the Shagari government had looted the country dry. We had no foreign currency to import basic commodities, that was why Buhari adopted rightly or wrongly the essential commodity policy. Ditto for 2015, within less than a year, crude went from $100 to $30. What did you expect Buhari to do? Many other countries that depends on crude for foreign earnings also went into recession at that time. 2. I also disagree with this verdict;
Whoever signed the contract should be P&ID's headache. A person that signs a contract must have authority to sign the contract, or the contract is invalid. In any organization, there are those with the authority of signing a contract or signing a check. If a person not authorised to sign a check signs it and you present it in a bank, the bank will not pay you, even it is an authentic check from the organisation. Are you insinuating that a cleaner or gateman of NNPC can sign the contract and it is valid? It is the responsibility of P&ID to confirm that those signing the contract has the authority to sign such. If the signature of the authorising officials is forged, that is another issue altogether. 3. Even this does not make sense; It true the that Federal Ministry of Petroleum Resources does not manufacture gas or possess oil or gas reserves, so they have to procure gas from exxon mobil and Addax. Now, was the Federal Ministry of Petroleum Resources expected to pay for the gas? Who was to build the pipelines, OML 123 is located offshore approximately 60 km south Calabar in the Gulf of Guinea. Who would bear the enormous cost of the pipelines. What of the pipelines to the power stations to be scattered all over the region? Did P&ID expect all these to be built instantly or within a couple of years. Will there not be budgetary provision for the pipelines if it was to be built by the FG? Buhari is jittery now because the company and a US court is threatening to seize our US assets and reserves, which to me is bullying. I think developing nations should stop buying assets in western nations and holding our reserves in their banks. This episode has shown just how vulnerable we are. 3 Likes |
Re: Nigeria’s $9 Billion Debt To P&ID: Everything You Need To Know by wirinet(m): 9:13pm On Sep 03, 2019 |
Fidelismaria: Please quit this self hate, Nigerians are not cursed. What law do you want the legal team to argue? Nigerian law, UK law, US law or British Virgin Island law? Remember, in the US, you need a licence from each each state to practice law in that state. The case is a travesty of the sovereignty of Nigeria. 1 Like |
Re: Nigeria’s $9 Billion Debt To P&ID: Everything You Need To Know by barbstee(m): 9:23pm On Sep 03, 2019 |
A very nice write up. It's worth reading Though I beg to disagree with some points 1 Like |
Re: Nigeria’s $9 Billion Debt To P&ID: Everything You Need To Know by snaketail22(m): 9:25pm On Sep 03, 2019 |
Thanks for this beautiful explanation,I pray Nigeria go back to the negotiating table 1 Like |
Re: Nigeria’s $9 Billion Debt To P&ID: Everything You Need To Know by barbstee(m): 9:27pm On Sep 03, 2019 |
wirinet: You actually took most of this from my mouth Kudos to you both! 2 Likes 1 Share |
Re: Nigeria’s $9 Billion Debt To P&ID: Everything You Need To Know by fmwise2k(m): 9:37pm On Sep 03, 2019 |
P and ID. This is what we should be fighting against instead of shouting IFOBs and Aponja here and there. |
Re: Nigeria’s $9 Billion Debt To P&ID: Everything You Need To Know by Nobody: 9:39pm On Sep 03, 2019 |
[quote author=Jobabori post=81890180][/quote] Foolish advice you say? What's better? $850 m or about $9.5 b? Mr wise man, can you tell me why Buhari didn't at least set up a panel to investigate the deal all this while? |
Re: Nigeria’s $9 Billion Debt To P&ID: Everything You Need To Know by crackhouse(m): 9:45pm On Sep 03, 2019 |
Jaqenhghar:are u referring to the writer? Is he part of the cabal? |
Re: Nigeria’s $9 Billion Debt To P&ID: Everything You Need To Know by emmykk(m): 9:46pm On Sep 03, 2019 |
PlayerMeji: You are funny,research help break things. let me summarized it for you. Some cabal because they need license money from the PID engineering company entered a contract on behalf of Nigeria,a contact they know it can't work till the end, that is a contract that they know is destiny to fail from the beginning. After collecting million of dollars licencing money from the PID company they abandoned the deal,the firm may have gain in one way or the other but the firm seeing that the deal can still make money for them if they push it a little higher by claiming Nigeria breach contract. which they are currently doing very well The firm may have gotten some oil or gas deals in one form or the other from the organiser but they are not content since they saw a loop hoe. However Once the real people who signed the deal during yardua sick days is ascertain the PID company will settle for less or cool down. Good or bad the company must get something and the dubious Nigeria cabal who did this will be punished if @mbuhari got the balls. This is high class contract yahoo happening in govt till tommorro, just that this one cast. There is a fake monorail in rivers state by rotimi ameachi,dredging of ikpoba river by Lucky igbenedion and many other fake project that gulp Millions of dollars without end results. Money is made in the beginning and then set aside 5 Likes |
Re: Nigeria’s $9 Billion Debt To P&ID: Everything You Need To Know by wirinet(m): 9:47pm On Sep 03, 2019 |
Chi59:Non. Nigeria did or does not have $850million to dash anybody. Till date we are still borrowing to finance our budget. Are you suggesting Buhari borrows $850million to pay P&ID, and then pay $85 million every year as interest? 2 Likes |
Re: Nigeria’s $9 Billion Debt To P&ID: Everything You Need To Know by crackhouse(m): 9:49pm On Sep 03, 2019 |
lapazi:u mean the lazy bloggers? |
Re: Nigeria’s $9 Billion Debt To P&ID: Everything You Need To Know by Nobody: 9:49pm On Sep 03, 2019 |
wirinet: They didn't pay settlement, they didn't go to court. Till it got out of hand. Do not make excuses for an inept and incompetent government. 1 Like |
Re: Nigeria’s $9 Billion Debt To P&ID: Everything You Need To Know by emmykk(m): 10:07pm On Sep 03, 2019 |
Chi59: The buhari govt strongly believe it is a scam,that is why they didn't approach it decisive. Yaradua,Gej and Buhari are not directly involved, some Big men in govt did all these. Gej may have know those who did it,yardua wife and co but was too careful not to persecute them but wanted to solve it,if he had won he would have bring the cabal to book but since he failed in election he refuse to settle and bring buhari to the know. 3 Likes 1 Share |
Re: Nigeria’s $9 Billion Debt To P&ID: Everything You Need To Know by Born2Breed(f): 10:10pm On Sep 03, 2019 |
Comprehensive write up.
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Re: Nigeria’s $9 Billion Debt To P&ID: Everything You Need To Know by Nobody: 10:12pm On Sep 03, 2019 |
baby124: U r mistaken, wat will $45b do to a $20trillion economy. Op u r aware that ordinary Facebook(just one American company) is richer than Nigeria many times over. |
Re: Nigeria’s $9 Billion Debt To P&ID: Everything You Need To Know by Nobody: 10:13pm On Sep 03, 2019 |
emmykk: "Bring Buhari to the know" Guy, you're not being honest. You really want to tell me that Buhari didn't know about all these? Let's assume he didn't what of the court judgement in 2017, this is 2019. Come on! 1 Like |
Re: Nigeria’s $9 Billion Debt To P&ID: Everything You Need To Know by Born2Breed(f): 10:16pm On Sep 03, 2019 |
emmykk: @bolded. I still remember how lucky gave his brother Bright the contract for 2billion and all the guy did was to dredge one spot and allow the sand to flow back to the river. Lucky finish Edo state sha! |
Re: Nigeria’s $9 Billion Debt To P&ID: Everything You Need To Know by baby124: 10:17pm On Sep 03, 2019 |
Tozinetita:That’s correct. They are rich in value in the trillions. The cash in the bank nko You think $40bn deposit money is a small thing for a bank correct? |
Re: Nigeria’s $9 Billion Debt To P&ID: Everything You Need To Know by emmykk(m): 10:18pm On Sep 03, 2019 |
Chi59: What I mean by that is ,instead of paying the $850m,he let president buhari to do that which Buhari find difficult to do...how do you expect @mbuhari to pay money he didn't benefit from.That deal is fraudulent no president will sign the money to be paid. |
Re: Nigeria’s $9 Billion Debt To P&ID: Everything You Need To Know by emmykk(m): 10:21pm On Sep 03, 2019 |
Born2Breed: If lucky finish Edo go and see monorail in PH,1 pillar is done with N100m by skyebank |
Re: Nigeria’s $9 Billion Debt To P&ID: Everything You Need To Know by Nobody: 10:24pm On Sep 03, 2019 |
Shoodboi: Ur writeup was brilliant but didn't explain why a company that invested $40m on paper will be awarded $9b for doing nothing. The judgement is evil and satanic, it would have suffice if the court had ruled that their invested $40m be refunded. The ruling bears the hallmark of racism and white supremacy. I don't blame them though, because from inception we've always had dumb and stupid leaders in Nigeria. 2 Likes |
Re: Nigeria’s $9 Billion Debt To P&ID: Everything You Need To Know by Nobody: 10:27pm On Sep 03, 2019 |
emmykk: Then why didn't the president get the ministry of justice or whatever to appoint lawyers to handle the case? Why didn't they appeal to a higher court? They did nothing now these guys plan to cash in big time. |
Re: Nigeria’s $9 Billion Debt To P&ID: Everything You Need To Know by Born2Breed(f): 10:27pm On Sep 03, 2019 |
emmykk: Amaechi.still try for Rivers despite the monorail scam. But Lucky.... Kai,very bad thief! Lucky chop and did nothing. |
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