casualobserver:


They go, they do whatever they do, they see whatever they see. They send money home, they help Naira. End of story!

They help naira, abi? Now that naira is weak to dollar, does it mean Nigeria in America are not sending money or what?
My brother, no amount of dollar or Euro send to Nigeria that will add value to naira like what we can get from good and robost economic system.

When rats and rabbits are fleeing their much-cherished burrows, shouldn't you know life is no longer bearable in the ground?

gaskiyamagana:

They help naira, abi? Now that naira is weak to dollar, does it mean Nigeria in America are not sending money or what?
My brother, no amount of dollar or Euro send to Nigeria that will add value to naira like what we can get from good and robost economic system.

Can you stop being so daft? Can you post like you actually went to school? Jelili the mechanic has more intelligence than what you posted.

The Naira may be bad but without diaspora remittances it would be worse…..a lot worse. The largest source of forex into Nigeria for the last 4 years is diaspora remittance, more than oil, more than FDI. Use what is left of your brain.

casualobserver:


Can you stop being so daft? Can you post like you actually went to school? Jelili the mechanic has more intelligence than what you posted.

The Naira may be bad but without diaspora remittances it would be worse…..a lot worse. The largest source of forex into Nigeria for the last 4 years is diaspora remittance, more than oil, more than FDI. Use what is left of your brain.

Johnny, be objective and logical. You and the paper qouted were taking of real or falsified oil receipt? Are you talking about oil receipt from fair, not even good, OIL BUSINESSES in terms of exploration, refinery and export?
From Buharilization to ongoing Tinublization, your thinking and reasoning are devoid of logical conclusion that if oil receipt you are talking about is from corruption free OIL BUSINESSES as we have in Saudi Arabia and most of other oil producing countries, you and poor Nigeria economic system will not be a begger to diaspora money for survival.

sukkot:
blue passport ?

I mean have seen British passport with few colors

NAIRA IS LOOSENING ITS SOVEREIGNTY.

gaskiyamagana:

Johnny, be objective and logical. You and the paper qouted were taking of real or falsified oil receipt? Are you talking about oil receipt from fair, not even good, OIL BUSINESSES in terms of exploration, refinery and export?
From Buharilization to ongoing Tinublization, your thinking and reasoning are devoid of logical conclusion that if oil receipt you are talking about is from corruption free OIL BUSINESSES as we have in Saudi Arabia and most of other oil producing countries, you and poor Nigeria economic system will not be a begger to diaspora money for survival.

Like I said, use your brains, the purpose of education is not to regurgitate stuff in exams but to train your mind to think.

Even at full production, no stealing, 2m barrels a day @60% JV with zero cost of production @$80 a barrel is $35b a year. In reality, at full production our total income from crude is more like $25b a year because cost of production in Nigeria is about $20 a barrel. Diaspora remittance is $30b+ a year. Your argument is daft and unbefitting of an educated man.

It it like saying you have a side income that is same or more than your salary but your side income is not important.

Stop being daft for the world to see!!!

You must be Ibo or Obidient. You are the ones that talk like brain dead people. Everything within the prism of tribe or politics that you sound so stupid in all your arguments. Simple analysis you cannot talk about without introducing Hate, bias or politics. You guys are so far gone in your emotion you are incapable of critical thinking.

Simple assertion: diaspora is Nigerias largest source of forex. Yes or no! If yes then STFU! if no then prove it. Stay on topic!!! Nobody asked you for story!!!

casualobserver:



This is the problem with Nigerians. You tell them the house is on the left they start arguing about how the man who owns the house killed his wife. Is that what I said or my business? Learn to stay on topic.


Jesus wept!!!

NAIRA IS LOOSENING ITS SOVEREIGNTY. EVEN NIGERIANS DON'T VALUE NIGERIA ANYMORE.

NAIRA IS LOOSENING ITS SOVEREIGNTY. EVEN NIGERIANS DON'T VALUE NIGERIA ANYMORE. LORD HAVE MERCY.

Let them make better sustainable policy.People that have japa will even come back enmasse ...Let them make better sustainable policy.People that have japa will even come back enmasse ......

It is painful to nigerian politicians that God in His wisdom has created ways for others to travel out of the country not only their children Better they are leaving the country for you to do as you like,you are shedding crocodile tears in the name of FG.Almost all the politicians send their children to study abroad since it is not possible to block others so that they would not go and competitive with coconut head children of nigerian politicians outside youare raising false alarm

BigDawsNet:


I mean have seen British passport with few colors

you are correct Chief, anyone who applies for a passport today gets a black one. never seen a blue one though. who qualifies ? if your parents are british or if you are born in the uk to british parents

sukkot:
you are correct Chief, anyone who applies for a passport today gets a black one. never seen a blue one though. who qualifies ? if your parents are british or if you are born in the uk to british parents

I actually know you qualify for a British passport if one of your parent are citizen...

Just asking about the color...

You have Burgundy brown color over there
Some get black one
Have seen some with blue...

So I'm just asking if they give out different color of passport or the Burgundy one is old one while the black one is the new one.... and blue is for diplomatic or so...

Thanks for the response baba

BigDawsNet:


I actually know you qualify for a British passport if one of your parent are citizen...

Just asking about the color...

You have Burgundy brown color over there
Some get black one
Have seen some with blue...

So I'm just asking if they give out different color of passport or the Burgundy one is old one while the black one is the new one.... and blue is for diplomatic or so...

Thanks for the response baba

ahhh i see where you are coming from Chief. the burgundy one is no longer issued, like if this my burgundy one expires I would be issued a black one but on further research it is not black, its dark blue. and maybe its 2 variations of blue you can get, dark and light blue

sukkot:
ahhh i see where you are coming from Chief. the burgundy one is no longer issued, like if this my burgundy one expires I would be issued a black one but on further research it is not black, its dark blue. and maybe its 2 variations of blue you can get, dark and light blue

Now I got the full picture... thanks boss

BigDawsNet:


Now I got the full picture... thanks boss

blessings Chief.

casualobserver:


Like I said, use your brains, the purpose of education is not to regurgitate stuff in exams but to train your mind to think.

Even at full production, no stealing, 2m barrels a day @60% JV with zero cost of production @$80 a barrel is $35b a year. In reality, at full production our total income from crude is more like $25b a year because cost of production in Nigeria is about $20 a barrel. Diaspora remittance is $30b+ a year. Your argument is daft and unbefitting of an educated man.

It it like saying you have a side income that is same or more than your salary but your side income is not important.

Stop being daft for the world to see!!!

You must be Ibo or Obidient. You are the ones that talk like brain dead people. Everything within the prism of tribe or politics that you sound so stupid in all your arguments. Simple analysis you cannot talk about without introducing Hate, bias or politics. You guys are so far gone in your emotion you are incapable of critical thinking.

Simple assertion: diaspora is Nigerias largest source of forex. Yes or no! If yes then STFU! if no then prove it. Stay on topic!!! Nobody asked you for story!!!

2m barrel per day equ. 1
365days make a year, eqa. 2
2,000,000 × 365 = 730, 000,000; equ 3
730,000,000 × 80 = 58, 400, 000,000 eqa. 4
58, 400, 000,000 × by what dollar rate you arrived at your 'in reality' $25b a year?

Your 'abusitivity' gene polluted oxygen in blood being carried to comprehension part of your medulla oblongata on the matter at stake that dependency on your home resources is better than being at mercy of foreign remittance.
Because of you and Nigeria government that are boasting of money we are sending home, the reason I can deduce from your argument, make you very, very lazy about economical development of the country , l will soon call a meeting that diaspora people should stop sending money to lazy Nigeria.

gaskiyamagana:

2m barrel per day equ. 1
365days make a year, eqa. 2
2,000,000 × 365 = 730, 000,000; equ 3
730,000,000 × 80 = 58, 400, 000,000 eqa. 4
58, 400, 000,000 × by what dollar rate you arrived at your 'in reality' $25b a year?

Your 'abusitivity' gene polluted oxygen in blood being carried to comprehension part of your medulla oblongata on the matter at stake that dependency on your home resources is better than being at mercy of foreign remittance.
Because of you and Nigeria government that are boasting of money we are sending home, the reason I can deduce from your argument, make you very, very lazy about economical development of the country , l will soon call a meeting that diaspora people should stop sending money to lazy Nigeria.

Your calculation shows your naivety and ignorance.

First of all you think the oil companies drilling the oil are doing it for free? Do you know what a JV or PSC is? The agbami oil field from which oil is heading to Dangote refinery, only 40% of the oil/revenue belongs to Nigeria, the other 60% is shared between Fanfa, chevron and others. There are different JV agreements, some are 40/60, 50/50, 60/40. That is why I used 60/40 in favour of Nigeria…because that is the best possible scenario you will see. I have assumed the most favorable conditions for Nigeria. At zero cost of production (a fantasy), 2m bpd and 60/40 JV split in Nigerias favour, you will get $35b. What that means is that is the most Nigeria can ever get from its oil. When the JV partners sell their share of the oil their money stays abroad. So the only forex from oil that comes back to Nigeria is that which belongs to Nigeria I.e 60% maximum. See pictures below.

Secondly there is a cost to bringing the oil out of the ground. It is only after production costs that you share profit …in Nigeria it is about $20/barrel! When you sell coke for 250 a bottle, the entire n250 is not profit. If you factor in cost of production. Therefore in a realistic scenario, the most we will make at $80/b and 2m bpd is $25b

Nothing shows ignorance more than claims all the oil produced by Nigeria belongs to Nigeria or to think there are no production costs. In many of the new offshore developments, Nigeria’s share is as low as 40% and in form of royalties because the companies take all the exploration and production risk. That is why you will see some that show 100% ownership by the oil company e.g all the offshore folawiyo. Agbami oil, etc.


http://www.oilmapng.com/blocks_page.php

All this is besides the point anyway. The point is diaspora remittance is our biggest source of forex. Stop straying off topic else you continue to exhibit your ignorance for the world to see.

casualobserver:


Your calculation shows your naivety and ignorance.

First of all you think the oil companies drilling the oil are doing it for free? Do you know what a JV or PSC is? The agbami oil field from which oil is heading to Dangote refinery, only 40% of the oil/revenue belongs to Nigeria, the other 60% is shared between Fanfa, chevron and others. There are different JV agreements, some are 40/60, 50/50, 60/40. That is why I used 60/40 in favour of Nigeria…because that is the best possible scenario you will see. I have assumed the most favorable conditions for Nigeria. At zero cost of production (a fantasy), 2m bpd and 60/40 JV split in Nigerias favour, you will get $35b. What that means is that is the most Nigeria can ever get from its oil. When the JV partners sell their share of the oil their money stays abroad. So the only forex from oil that comes back to Nigeria is that which belongs to Nigeria I.e 60% maximum. See pictures below.

Secondly there is a cost to bringing the oil out of the ground. It is only after production costs that you share profit …in Nigeria it is about $20/barrel! When you sell coke for 250 a bottle, the entire n250 is not profit. If you factor in cost of production. Therefore in a realistic scenario, the most we will make at $80/b and 2m bpd is $25b

Nothing shows ignorance more than claims all the oil produced by Nigeria belongs to Nigeria or to think there are no production costs. In many of the new offshore developments, Nigeria’s share is as low as 40% and in form of royalties because the companies take all the exploration and production risk. That is why you will see some that show 100% ownership by the oil company e.g all the offshore folawiyo. Agbami oil, etc.


http://www.oilmapng.com/blocks_page.php

All this is besides the point anyway. The point is diaspora remittance is our biggest source of forex. Stop straying off topic else you continue to exhibit your ignorance for the world to see.

Cooked figure with which you are justifying your economic laziness is revealed with my analysis. What is total amount from which production cost is removed to remain $25b you are parroting to be lower to foreign remittance?
Your explanation and references so far are form of complain, lame excuses about Nigeria oil exploration, production and marketing CONTRACTS which are full of Corrupt practices you are blind of (e.g MALABU OIL SCANDAL). I still and will continue to maintain my stand that mentioning, let alone boasting of foreign remittance as highest source of revenue, at the NEGLIGENCE AND POOR MANAGEMENT OF OIL AND OTHER NATURAL RESOURCES, is a shame and failure you are defending with STORIES above.
If not a failure, why not other oil producing countries not depending or boasting of foreign remittance over their oil revenue?
I wonder why, with your so called knowledge about Nigeria oil, not talking about functioning refinery as monumental failure of Nigeria in oil business, as one of the reasons for poor oil receipt to the national treasury.

gaskiyamagana:

Cooked figure with which you are justifying your economic laziness is revealed with my analysis. What is total amount from which production cost is removed to remain $25b you are parroting to be lower to foreign remittance?
Your explanation and references so far are form of complain, lame excuses about Nigeria oil exploration, production and marketing CONTRACTS which are full of Corrupt practices you are blind of (e.g MALABU OIL SCANDAL). I still and will continue to maintain my stand that mentioning, let alone boasting of foreign remittance as highest source of revenue, at the NEGLIGENCE AND POOR MANAGEMENT OF OIL AND OTHER NATURAL RESOURCES, is a shame and failure you are defending with STORIES above.
If not a failure, why not other oil producing countries not depending or boasting of foreign remittance over their oil revenue?
I wonder why, with your so called knowledge about Nigeria oil, not talking about functioning refinery as monumental failure of Nigeria in oil business, as one of the reasons for poor oil receipt to the national treasury.

Like I said stick to the topic which was the importance of diaspora remittance. If you had not gone off topic you won’t have made a f o o l of yourself for the world to se time and time again. If you want to go off topic after you have been schooled and discuss a different topic, feel free to find another du11ard luke yourself to engage in debate. Nairaland is not short in supply of low IQ uninformed frustrated people like yourself who do not wish to learn or to be corrected and who will gladly engage you In ignorant conversations just for the sake or arguing.

My advice to you is to stick to topics commensurate with your IQ and exposure like Nollywood and BBNaiaja! This is clearly above your level of intellect and your pay grade!!

I only responded to you because others are reading and some will learn. I have no interest in engaging dim wits My job is done!
Consider yourself ignored henceforth.

casualobserver:


Like I said stick to the topic which was the importance of diaspora remittance. If you had not gone off topic you won’t have made a f o o l of yourself for the world to se time and time again. If you want to go off topic after you have been schooled and discuss a different topic, feel free to find another du11ard luke yourself to engage in debate. Nairaland is not short in supply of low IQ uninformed frustrated people like yourself who do not wish to learn or to be corrected and who will gladly engage you In ignorant conversations just for the sake or arguing.

My advice to you is to stick to topics commensurate with your IQ and exposure like Nollywood and BBNaiaja! This is clearly above your level of intellect and your pay grade!!

I only responded to you because others are reading and some will learn. I have no interest in engaging dim wits My job is done!
Consider yourself ignored henceforth.

Chaii

Brutality

Subzero - BBYBY

casualobserver:


Like I said stick to the topic which was the importance of diaspora remittance. If you had not gone off topic you won’t have made a f o o l of yourself for the world to se time and time again. If you want to go off topic after you have been schooled and discuss a different topic, feel free to find another du11ard luke yourself to engage in debate. Nairaland is not short in supply of low IQ uninformed frustrated people like yourself who do not wish to learn or to be corrected and who will gladly engage you In ignorant conversations just for the sake or arguing.

My advice to you is to stick to topics commensurate with your IQ and exposure like Nollywood and BBNaiaja! This is clearly above your level of intellect and your pay grade!!

I only responded to you because others are reading and some will learn. I have no interest in engaging dim wits My job is done!
Consider yourself ignored henceforth.

FG EXPRESSES CONCERNED OVER EMIGRATION OF NIGERIANS.
With your ignorant and generalization, you responded to the topic that who ever want to japa is free to go and be CLEANING POO OF OLD WOMEN and sending money to Nigeria, the money actually is bigger than oil revenue .
My argument is that Nigeria, like other oil producing nations, should work harder and strategies on how oil receipt should be more than foreign remittance in her revenue generation.
You started proving that Oil revenue, even without corruption l mentioned as serious setback, can not be up to foreign remittance. I disagreed with you and your data with the last question that you can not answer that, WHY , UNLIKE NIGERIA, OTHER OIL PRODUCING COUNTRIES NOT HAVING FOREIGN REMITTANCE SURPASSING THEIR OIL REVENUE?
What is level of your intelligence that surpassed that of Nigeria government who is bitterly complaining about Nigerians living the country that you said nothing is wrong with it as long as money they will be sending home is handsome to her revenue ?
How fool and stupid you are to say, not even conclude, that those of us outside Nigeria are CARRYING POO OF OLD WOMEN?
With my 'dullard' and ' low intelligence quotient ' ; l thank God that the money l am sending home is among foreign remittance you are wrongly proud of and upon which your survival is depended.

emmaodet:


Chaii

Brutality

Subzero - BBYBY

The response above must be sufficient for you and your hero in stupidity.

ablejesus26:


Goodluck but to tell You the truth, forget se Country hard,there's money in this Land o.

My younger sis is a medical doctor in Finland plus she has people in their govt,she don distrub me tire but I don't just see how I go come carry my whole family come go another man land. Once my son is through with sec school,I will send him to Finland to stay with my sis.

Nigeria under Apc looks very hopeless.

May the strongest survive.

Hi bro....how was she able to do it...I'm a doc too considering finland