Weedhustler:
Did he even read it before signing? Uchu of a president!

;

Foreigna2:
Is this not the one where they gave Niger Delta 3% and the North 30%.

Let me educate us. The 3% that goes to communities is 3% of OPEX of all oil companies operating in the Niger Delta , while the 30% is on profits of NNPC.

There are at least 10 different JV's operating in the Niger Delta. You have the big ones operated by Shell, Total, Exxon and Chevron and smaller ones operated by Seplat, Aiteo etc.

The big JV's have OPEX budget of circa $600m to $1.2bln per year. Let's assume an average of $900m times 4 - that is $3.6bln of which 3% $108mln. And this is Conservative. It could easily get to $150mln per year.

NNPC profits on the other hand cannot be guaranteed. I'm not Sure NNPC has made any significant profit in decades and even after PIB, there is no guarantee that they will. NNPC could make profit this year, loss the next etc. And with the challenges in the industry, it will be a big surprise that NNPC can make up to $500m profit, which is what will be required for 30% to give it the same $150mln.

Therfore to simply equte 3%and 30% and be making noise on Nairaland is the usual shallowness of the typical Nigerian.

@COMPAQ

Please what role will nnpc play in this new bill.?
Nnpc still going to be operating as government
own company or what.

Thanks

Hmmmmm, what a word of wisdom bro

Ihatemumu:
Every decision we make in life shapes our future and destination. 

We underestimate the rewards of our actions taken in our own lifetime by thinking they are just little decisions.

It took great scientists like Isaac Newton to understand the signs of falling Apples to discover a great mathematical innovation, 

The black race is still waiting for God to show them everything before they understand their true purpose on Earth. 

 

If Africa fought bravely against religion, it wouldn't be brought to its knees easily by the Arabs and the Western world. 

But sadly, our founding father underestimated the effect of taking the wrong decision. 

The end is always how we all define it to be by our actions. It's a cosmic rule that's very consequential. 

Wormwood, an astroid projected to hit the earth in 2029, 

https://www.nationalgeographic.com/science/article/giant-asteroid-nasa-dart-deflection [

A little unresolved variable could determine if humanity stands a chance or not. 

But Africans are still fighting for Ruga, while the world is thinking of exploring Mars. 

A fool is anyone who knows the truth but prefers to believe a lie.

This is the fight Nnamdi Kanu has been fighting all along alone. But the likes of Asari Tokunbo, Edward Clark sabotage his efforts because of the crumbs from their master table. The real owner of the oil has spoken, Niger delta has to listen. South will continue to be the slave to the North until and unless they change from being an hypocrites

asiwaju60:
@COMPAQ

Please what role will nnpc play in this new bill.?
Nnpc still going to be operating as government
own company or what.

Thanks

NNPC will operate as a limited liability company as opposed to as an appendage of government where it draws budget from national budget. As a limited liability company it will no longer be expected to take money from national budget. It will stand on its own and on the basis of its profit, pay dividends to FG if it has any. That is why the law now requires it to operate profitably. And that it why it can no longer under recover the price of petrol (subsidy) in this dispensation.

Benefit is that national budget is free from having to allocate money to NNPC. And FG earns dividend if any.

NLNG has been paying dividends for decades without taking any money from government.

Timmybr:
Where 30% will be used to look for non existing oil in the North, also every state that pipe pass through will have their shares. Then the producing communities will have just 3%. One Nigeria is a scam

My heart breaks just reading this, Please why are the Leaders in the south south keeping quiet. Please God, where are all the strong men and leaders we have, where is PANDEF? where is, IYC and INC, Asari and his Group,

Who is fighting for us for God Sake!

How can this be happening with so much silence from my people? Why is this happening?

Our God, where you dey?

[color=#770077][/color]

Righthussle:
Him don sign am quick because him hear say e favour him people.

Mysticwebb:
Because it favours the North.

Still waiting for your response! Also, any of the 88 people who liked the post can help him out in answering this question. In what way exactly do this favour the North?