Ovamboland:


$30bn is 41cents daily for each Nigerian, about 205 naira.
Now what can you achieve with 205 naira daily?
If not much, how do you expect politician to help you spend it to deliver world class healthcare, education and infrastructure for all?

That's why we need to restructure economically and fiscally. Instead of trying to share out our dwindling oil earnings why not restructure the country and allow people express themselves economically. I as a person for example, believe I can generate over N100 tax daily if given the right environment. I know many Nigerians can dwarf that figure easily too. It is better to allow people contribute than trying to sustain people just because politicians want to remain popular across regional and party or religious lines.
Any serious leader in this country will first have to restructure in order to make any tangible forward or positive change.

Siberia01:


Davido can easily cough out such amount
With $30 billion in his account

We have actresses that can easily fund our nation's budget
But why can't we just swallow our pride and borrow from this actresses

wetin u dey talk

All this monies goes down a deep throat.

Ovamboland:


South African budget is over $130bn a year, can't be $50bn

Thank you

Then why are we overborrowing?

JAMO84:
For proper context:



South Africa, 55 million people, annual budget - $50b



Nigeria, 200 million people, annual budget, $30b




While the money quoted up there might be much for Ghana, it's actually a chicken feed for NIGERIA.


DO WHATEVER YOU WANT WITH MY INFORMATION

railway and npower

Regime apologist. So now all of a sudden, the oil earnings isn't the actual figures, but it was when the previous regime was in power. Bunch of re*tards.

aribisala0:

Oil cost money to bring out of the ground and the cost in Nigeria is one of the highest in the world.
Earnings are not the same as profit
Profit has to be shared with the Oil companies

Cognitivereason:
Technically Nigeria now spends nearly $40bn..
If u convert the recent N17 trillion budget to dollar using the new I&E exchange rate (435 per dollar) u get around $39bn..

About $12bn out of that is loan for infrastructure which Nigerians say they don't want

You are talking about money earn through oil. By the time you include other sector like NPA, immigration, Telec etc. You will understand the massive money this country is making then you will realized that the Federal Government is a criminal group, a Cartel.

wonder233:
Regime apologist. So now all of a sudden, the oil earnings isn't the actual figures, but it was when the previous regime was in power. Bunch of re*tards.

try to engage common sense for once

aribisala0:
Shut up
The worst kind of ignoramus is the one that believes he knows when he knows nothing

Earnings is the same as revenue

Nigeria /NNPC operates a JV with the oil majors. Whatever the contract thy must get a share of the profit which is the difference between revenue and expenses

According to the figures in the report about 440 million barrels of oil were sold for around $60 which at an exchange rate of 500 is about 13 trillion Naira roughly. This is a gross figure before any deductions The official exchange rate is less than 500 and that would bring it closer to the 12 trillion figure.

Of that how much is profit and of that how much goes to the oil companies. The oil companies are not charities they are in it for profit
Mele Kyari is on record as saying it cost $17 to produce a barrel of oil in Nigeria

You think insulting someone makes you intelligent. Erase that mentality from head.

Xman12345goat:
Nigeria produces an average of 1.08 million barrels of oil a day. Multiply it by $60 and you will see that Nigeria makes more than the figure above

We will soon be reminded of the high crude oil price during Jonathan’s time

JAMO84:
For proper context:



South Africa, 55 million people, annual budget - $50b



Nigeria, 200 million people, annual budget, $30b




While the money quoted up there might be much for Ghana, it's actually a chicken feed for NIGERIA.


DO WHATEVER YOU WANT WITH MY INFORMATION

No where did it say anywhere that that is the annual budget

Ovamboland:


$30bn is 41cents daily for each Nigerian, about 205 naira.
Now what can you achieve with 205 naira daily?
If not much, how do you expect politician to help you spend it to deliver world class healthcare, education and infrastructure for all?

Stop smoking weed and put it into more context that affects everyday people.

Minimum wage = N30,000
Average family in Nigeria is 6 consisting of two of the parents and four children.

Let's do the maths.
30000/6 persons = 5000
5000/30 days = N47.6

If N47.6 can do something in a family then N205 is too much amid too numerous other sources of income, levies, royalties and other receivables by the Federal Government.

Address what I said, no be by meaningless rhetoric. All we've heard these past 6 years is how oil sold for 100dollars per barrel in the previous administration.. Now, it is about 80 dollars, but all of a sudden there is now a difference between earning and profit. In case your brain is paining you, the profit from a large earning is also a large amount. So stfu with your voodoo economics, you stockholm syndrome infested simpleton

Ovamboland:


try to engage common sense for once

Ovamboland:


$30bn is 41cents daily for each Nigerian, about 205 naira.
Now what can you achieve with 205 naira daily?
If not much, how do you expect politician to help you spend it to deliver world class healthcare, education and infrastructure for all?

you havent answered the question:

How has Nigeria spent it's $30b?

Cognitivereason:
DAT not how it works.. The cost of extracting the oil has to be subtracted.. Also..The oil companies are the ones making the most money..they pay royalties and taxes to the government

That true, I heard that oil companies makes more than 70% of the profit. They only pay about 10% of the profits

With nothing to show for it

Xman12345goat:


That true, I heard that oil companies makes more than 70% of the profit. They only pay about 10% of the profits

It's 60/40 with 60 percent going to Nigeria