COMPAQ:


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.

DubaiLandLord1:
No matter the explanation, this is trash for me. 30% for oil exploration in the North is nonsense and shouldn't be accepted.

adeniyiemmanuel:
are u for real

DubaiLandLord1:
No matter the explanation, this is trash for me. 30% for oil exploration in the North is nonsense and shouldn't be accepted.

If 30% is budgeted to search for oil in the North, 30% should also be budgeted to search for oil in the South. Federal character principle must always be followed in everything, for any part not to feel left out.

If what I wrote is sounding like a bullshit to you, you should just accept it, since you have accept the bullshit of someone scoring 1/100 and still gaining admission into a federal school.

LibertyRep:
But what stops the NASS and the FG from making this simple explanation?

FarahAideed:
It still shows the oil Producing areas will be getting similar amount with the dry north ... Besides these northerners can never be trusted

RiceProducers:


The North is not dry. Oil was found in the SS because that was where Nigeria looked for oil. Oil has been found in Niger, Chad and Sudan so saying there is no oil in the North of Nigeria is a puerile and necessarily sentimental statement. I agree that 30% of profits dedicated to looking for oil in the North is excessive. The tools, rigs and personnel costs of exploration in the North are much lower than Niger Delta. In any case, oil is winding down as a primary energy source so Nigeria should be following the trend and diversifying

overall90:
The denominator in this whole charade is that there is no oil in the north,at least not in commercial quantities.if there were, the multinational oil companies would have been there minining oil several years ago instead of going offshore were it is more expensive and carries greater risks.
So invariably the 30% is for the North to flex in addition to the funds they have been stealing via having more states,more local governments,more national assembly members and being virtually in charge of anything that brings more for Nigeria.
It is well with the south.

FarahAideed:


The dry I mean mining oil in the north is. Not economically viable , the cost per barrel will be too high to attract any Oil producing Company

RuudVanNisteroy:
Letting the fantastically corrupt NNPC spend 30% overhead under the guise of Fronteir Exploration is a big mistake.This will be one the biggest future corruption cases.Don’t be surprised to see overheads such as royalties to unknown people,pipleline security contracts and other methods used to siphon the 30% amount set aside by the Northern elite.And this will be a recurring amount annually until oil becomes useless in Niger Delta:Isn’t it better the 30% be spent in the Niger Delta were oil has been found in commercial quantities.The oil majors and NNPC know there is no oil in commercial quantity in the north and is a simply a way of siphoning 30% of NNPC profits annually by the Arewa boys that terrorise Abuja with their Lamborghini,Bugatti and Ferraris.

RiceProducers:


The North is not dry. Oil was found in the SS because that was where Nigeria looked for oil. Oil has been found in Niger, Chad and Sudan so saying there is no oil in the North of Nigeria is a puerile and necessarily sentimental statement. I agree that 30% of profits dedicated to looking for oil in the North is excessive. The tools, rigs and personnel costs of exploration in the North are much lower than Niger Delta. In any case, oil is winding down as a primary energy source so Nigeria should be following the trend and diversifying

kokoA:
Are you a professional in that field? Government can't make such decisions without inputs from professionals.

RuudVanNisteroy:
Letting the fantastically corrupt NNPC spend 30% overhead under the guise of Fronteir Exploration is a big mistake.This will be one the biggest future corruption cases.Don’t be surprised to see overheads such as royalties to unknown people,pipleline security contracts and other methods used to siphon the 30% amount set aside by the Northern elite.And this will be a recurring amount annually until oil becomes useless in Niger Delta:Isn’t it better the 30% be spent in the Niger Delta were oil has been found in commercial quantities.The oil majors and NNPC know there is no oil in commercial quantity in the north and is a simply a way of siphoning 30% of NNPC profits annually by the Arewa boys that terrorise Abuja with their Lamborghini,Bugatti and Ferraris.

DubaiLandLord1:
No matter the explanation, this is trash for me. 30% for oil exploration in the North is nonsense and shouldn't be accepted.

If 30% is budgeted to search for oil in the North, 30% should also be budgeted to search for oil in the South. Federal character principle must always be followed in everything, for any part not to feel left out.

If what I wrote is sounding like a bullshit to you, you should just accept it, since you have accept the bullshit of someone scoring 1/100 and still gaining admission into a federal school.

Positivepoint:


I don't see shouting the federal character during Olympics and football, basketball team all dominated by the South. If true u are fair, u should have questions why only southerners are representing Nigeria in Olympics etc.

LibertyRep:
But what stops the NASS and the FG from making this simple explanation?

DubaiLandLord1:
I don't answer dull questions.

Positivepoint:
coz u re simply a racist dull fool.

DubaiLandLord1:
It seems you're pained because of what I write up there. But that is your problem.

Comparing our representative in the olympic, whereby the Nigerian athletes have to first compete with other Nigerians first, and then compete with other Africans before they could advance to the olympic, shows how daft and dull you're.

I hope this country will split someday, there is no way this country will develop with dull and foolish pigs like you.

I won't be exchanging words with a pig that is beneath me again. I won't read your next dull reply not to talk of replying.

kokoA:
Are you a professional in that field? Government can't make such decisions without inputs from professionals.