Oga however you explain it.. it's still robbing peter to pay paul.

Are you telling me that you're more learned than Southern governors that rejected the bill? you are telling us to pay non-oil states the same money they pay oil producing communities because of oil pipelines passing through those states.. please is pipeline supposed to pass through the sky?

The rubbish you people in North passed won't take effect and the next regime will most likely dump it in the bin. 30% of NNPC profits allocated to oil exploration in the North frontier basins while the Niger Delta continue to suffer oil spill, environmemtal pollution and environmental degradation. Las las you've taken us back to the era of militants holding sway in the Niger Delta. Back to square one.

flokii:
Oga however you explain it.. it's still robbing peter to pay paul.

Are you telling me that you're more learned than Southern governors that rejected the bill? you are telling us to pay non-oil states the same money they pay oil producing communities because of oil pipelines passing through those states.. please is pipeline supposed to pass through the sky?

The rubbish you people in North passed won't take effect and the next regime will most likely dump it in the bin. 30% of NNPC profits allocated to oil exploration in the North frontier basins while the Niger Delta continue to suffer oil spill, environmemtal pollution and environmental degradation. Las las you've taken us back to the era of militants holding sway in the Niger Delta. Back to square one.

You guys just refuse to get knowledge but continue to peddle the same lie. The 30% of profits is for all “Frontier Basins” and not all are in the North. Please get some knowledge and stop arguing blindly.

kmcutez:

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.

So your education is apt, except you got something wrong. You are assuming the profits mentioned is net profits which can be zero. It could as well be gross profits or margins, which is never zero. Thus is Nigeria, if it is not stated clearly, assume the worst.

In fact, the oil industry is the only sector that makes gross profits of 40-60% of revenue. So if we assume this means gross profits and take the lower bands, then 30% of 40% is actually 12% of revenue.

While the same NNPC will only contribute 3% of Opex ( usually about 60% of revenue) ie. 3% of 60% = 1.8% of revenue to host communities. The only valid point you made is that other companies apart from NNPC will be contributing as well.

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.

Stop behaving like an ignorant person....or mischievious......its a federal school and federal government makes a policy that will be fair....if the admission scores were not lowered for educational disadvantaged states we will end up with only southerners in supposed federal schools....where then is the federal character.....is that not why we have nnamdis and adebayos populating sokoto state admission lists?

Southerners reel out statistics that paints the north as backward uneducated and poor but will still in the same vein complain bitterly when developmental, educational and poverty alleviation programmes are targeted at the north...thats HYPOCRISY

Difrent:


Stop behaving like an ignorant person....or mischievious......its a federal school and federal government makes a policy that will be fair....if the admission scores were not lowered for educational disadvantaged states we will end up with only southerners in supposed federal schools....where then is the federal character.....is that not why we have nnamdis and adebayos populating sokoto state admission lists?

Southerners reel out statistics that paints the north as backward uneducated and poor but will still in the same vein complain bitterly when developmental, educational and poverty alleviation programmes are targeted at the north...thats HYPOCRISY

If you promote a child whose educational qualification is equivalent to primary 6, but you promote him to SS3. Do you really expect that child to understand concepts being taught in SS3? What is your aim, education or playing catch up with the south. Passmark of 9% is as good as giving a primary school pupil a degree certificate. It is the products of such education that are manning the country with every policy reasoning upside down. They substitute what they do not have with religious over zealousness and ethnic focus and keep creating problems everywhere. If running on merit will make you lose, why not live in your own country where you will educate and develop at your own pace.

amc:


You guys just refuse to get knowledge but continue to peddle the same lie. The 30% of profits is for all “Frontier Basins” and not all are in the North. Please get some knowledge and stop arguing blindly.

There is a list attached of frontier basins to the bill. All of them were in the North. That was why some of us are speaking out. Ultra deep offshore blocks were not even in that list.
It was as if PIB said; "don't look for oil anywhere else aside Gongola basin and some other Northern Nigeria basins

amc:


You guys just refuse to get knowledge but continue to peddle the same lie. The 30% of profits is for all “Frontier Basins” and not all are in the North. Please get some knowledge and stop arguing blindly.

No mind these clowns

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.

Your I.Q level is subhuman.

RiceProducers:


There is a list attached of frontier basins to the bill. All of them were in the North.That was why some of us are speaking out. Ultra deep offshore blocks were not even in that list.
It was as if PIB said; "don't look for oil anywhere else aside Gongola basin and some other Northern Nigeria basins

Big lie. I don't know what you guys gain from these lies. The Frontier Basins are not listed on the bill but they have been listed in other documents.

vedaxcool:
Thank you for trying to make this forum more intelligible not a fools paradise. I kept reading one foolish comment after another spreading misinformation on this issue.

If PIB was as terrible as people claim many Southern legislators would have rejected it. This type of legislation are done with experts inputs .

Why not the exploration and development of solid minerals for the nation.

Why not exploration of oil in Nigeria as a whole.

Why tag it to northern Nigeria


Bro, no be today northerners started to skew things go one side.

So a meagre $150million per year for millions of your people out of possibly billion of dollars profits that is been taken out from your land by the oil companies is enough for you ogogoro drinkers? See brain!! Zero ambition. Tufiakwa!! Where did this people come from into the area they are occupying? See satisfaction in the face of peanut.

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.

Why all these whining? The market has been deregulated, in future you will have no more business with NNPC, it will be an institution of the past like Nepa, & Nitel. Stop crying over spilt milk.

BiafraInc:
So a meagre $150million per year for millions of your people out of possibly billion of dollars profits that is been taken out from your land by the oil companies is enough for you ogogoro drinkers? See brain!! Zero ambition. Tufiakwa!! Where did this people come from into the area they are occupying? See satisfaction in the face of peanut.

Crocodile Tears Hypocrite, why weep more than the bereaved?

In the month of June 2020, Delta State received the biggest share of N14.3 billion net allocation, followed by Akwa Ibom with a total net allocation of N11.4 billion. Other states that made the top 5 with biggest allocation include Rivers (N10.7 billion), Bayelsa (N8.93 billion), and Lagos (N7.4 billion).

On the other hand, Osun State received the lowest share (N2.24 billion) followed by Cross River with N2.26 billion net allocation. Others include; Plateau (N2.48 billion), Ogun (N2.75 billion) and Gombe State received N2.84 billion.

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.

If they don't have any hidden agenda they would have made the law to cover the whole country not only in the north.

Genius100:


Stop running naked in the public square. Its not "30% of overhead".. its 30% of profits. Profits are oftentimes zero.

So u mean the nnpc don't make any profits from nigeria's crude oil and gas sales or there's another establishment that's responsible for the sales?

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.

The north has never been gifted in sports most of the nigerian actletes that qualified for the Olympics qualified based on world rankings can you even mention any actlete from the north that's making waves outside nigeria? You people are just too arrogant and ungrateful to the south for making the world hear about nigeria. Without the south no one will even know if nigeria is existing u guys up north depends on the south for almost everything from economic survival to quality human resources and lots more yet wants to continue to dominate the south politically for ever.

vedaxcool:
Thank you for trying to make this forum more intelligible not a fools paradise. I kept reading one foolish comment after another spreading misinformation on this issue.

If PIB was as terrible as people claim many Southern legislators would have rejected it. This type of legislation are done with experts inputs .

What will their rejection do to the bill, the minority caucus tht walked out from the passage, did it stop it from being passed?
You be Aboki, a tout and u know nothing about legislation

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

Professionalsfrom ahmadu bello uni or unimaid...

Genius100:


How do you know its excessive, when you don't know the profit amount? The profit has been zero in many of the previous years.

And u think the northern legislators were foolish to enact this if at all there is no profit from nnpc?

Mrexcell:


The north has never been gifted in sports most of the nigerian actletes that qualified for the Olympics qualified based on world rankings can you even mention any actlete from the north that's making waves outside nigeria? You people are just too arrogant and ungrateful to the south for making the world hear about nigeria. Without the south no one will even know if nigeria is existing u guys up north depends on the south for almost everything from economic survival to quality human resources and lots more yet wants to continue to dominate the south politically for ever.

Election is based on number of highest vote for candidates. It's balance then

Positivepoint:



Election is based on number of highest vote for candidates. It's balance then

Based on ur fraudulent census? There's no where in the world where a deserted war ravaged land is more populated than a coastal peaceful land that is blessed with natural resources. You people should continue to enjoy the stolen money from the south while it lasts ur time will definitely be up soon there's no champion forever.

Mrexcell:



Based on ur fraudulent census? There's no where in the world where a deserted war ravaged land is more populated than a coastal peaceful land that is blessed with natural resources. You people should continue to enjoy the stolen money from the south while it lasts ur time will definitely be up soon there's no champion forever.

. Based on ur fraudulent world competitions that are never showcased anywhere u think we are fools. U are the fools and u will remain in perpetual foolishness forever

Positivepoint:
. Based on ur fraudulent world competitions that are never showcased anywhere u think we are fools. U are the fools and u will remain in perpetual foolishness forever

Cursed parasites

Mrexcell:


Cursed parasites

. Dumb slave. Ever wonder why ur tribe was the most abused during slavery, coz u people are stupidly dumb. Tiny tribes like ishekiris etc where exploiting u guys fools.

Buckeyemedia1:
Crocodile Tears Hypocrite, why weep more than the bereaved?
[/b]

Can you convert those naira billions into US$ and tell us how much they are? Cheap natives.

Positivepoint:
. Dumb slave. Ever wonder why ur tribe was the most abused during slavery, coz u people are stupidly dumb. Tiny tribes like ishekiris etc where exploiting u guys fools.

You don't even know where am from mumu the igbos u are even trying to redicle here are far better than u cursed wandering parasites that can't even survive without the igbos u label as dumb and fools. The itsekiris can always narrate whatever fake history of what happened during the slave trade over 400yrs ago to align with their political agenda in Nigeria but it doesn't actually mean that it's actually true. Every reasonable person knows that nigeria is a fraudulent creation and must be sustained with fake useless narratives and propaganda.

[quote author=kmcutez post=104879341][/quote]
Please don’t insult Nigerians say iPob

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.

Na person dey reason like this?

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poiZon:

What will their rejection do to the bill, the minority caucus tht walked out from the passage, did it stop it from being passed?
You be Aboki, a tout and u know nothing about legislation

[/s]

You use words that describe your background.