Ransom nah!! Those guys are not playing.

yinkus6750:
Lucky to cone back alive.
Was he rescued by police or ransom was paid?

You see the problem with we Nigerians, we don't think our actions through before proceeding. Is this not executive rascality? The same scenario that led to the P&ID case? As a responsible government, the first thing to do is ensure you cancel any existing contracts, communicate such cancellations appropriately before engaging another business entity. The same complacency and incompetence by officials involved in the P&ID case is the same that is playing out here. And when they take advantage of our leaders incompetence we start screaming scam!!

alizma:
No be una fault. You were awarded a contract since 2003( 16years ago ) without any substantial development on the project and you are here talking rubbish.
In some other countries, when you are given a contract in such area of national interest, you will be required to state when the contract will be ready, failure to meet up with the stated date and grace period attracts penalty but the reverse is the case in Nigeria. Here they use one silly excuses to delay the contract and then have subsequent government to review the contract amount upward. God will punish everyone(citizens and foreigners) that has vow to impoverish this country and it's people.

See ehnnn, Buhari is the best thing that has happened to Nigeria since independence. You people should be patient, we are in the next level!!! Sai Buhari


According to BudgIT, although the government recorded a revenue of N3.86 tn, it spent N5.86 tn on recurrent expenditure, meaning that N2 tn was borrowed to fund recurrent expense

Lol!! He's a patriotic Nigerian, so don't expect him to comment on a thread like this

1shortblackboy:
shameful. where is come and say nonsense

We have seen videos of the burning of shops, car dealerships and killings of foreigners who are engaged in legitimate business in SA, how do you justify that? These neighborhoods where you say are relatively safe, how long do you think before the attacks spread to those areas?

My dear friend there is no justification for the looting and killing of your fellow human being. It speaks volumes that your country's police and security agencies give a tacit approvals to these atrocities. It tells me that you guys in SA are barbaric and uncivilized. Would you also advocate that US citizens start burning and killing all Mexicans in the US since they are responsible for bringing in drugs into the US?

If there is a drug problem in certain neighborhoods, isn't it more civilized for your country men to report them to the authorities and get them arrested and deported if found culpable? Why are the drug laws in your country so lax? Are you honestly saying that these foreigners who engage in the drug trade do no have local corroborators who are also part of these drug cartels?

Antoeni:
I have decent Nigerian and Ghanaian friends who have lived in South Africa forever. They have NEVER been attacked by anyone. Matter of fact the attacks don't get to where they live and do their businesses. It seems these attacks always happen in some specific locations and neighborhoods where crime, drug cartels and people involved in other vices live and ply their trade. The question I keep asking myself is what are some Nigerians doing in those crime infested hoods?

The xenophobic South Africans say their neighborhoods were peaceful and free of crimes and gangsterism before the drug cartels and other criminal elements moved in. According to them, they engage in xenophobic killings in retaliation every time a South African is killed in drug related clashes or other criminal activities which they believe are orchestrated by foreigners. They always claim that their wicked actions are a retaliation for some indiscretion perpetrated by shady foreigners mostly of Nigerian origin.

The resentment is so serious that even the police and some government officials aid and abet xenophobia. So I ask again, what are Nigerians always doing around those neighborhoods. Can't they move into more decent hoods where these crimes and vices are not common? What is the attraction in a place where your life and property are not safe?

Have you also wondered how much it will cost to build a spanking new refinery? How much has NNPC spent on importing fuel since this administration started? Is it not an irony that a country that sells crude oil every month cannot have a functional refinery? Just watch as the Buhari voltrons avoid this thread.

Resurgent2016:
I am not sure why many Nigerians saw more sense keeping this refinery as a loss making asset rather than selling it.

The money lost per year can well fund the healthcare & education sector sectors for some states.

Spending 100s of billions in repairs and other expenses on a refinery that we know will no provide any meaningful returns in day light corruption. Many contractors are feeding fat getting contracts for a refinery that is moribund.

Its a shame many Nigerians were beclouded by the BMC gang to believe Atiku's solution was not viable.

Madridguy and the likes will the rotten BBQ seller will answer to God one day for short selling the country for God knows how much.

Thank you for looking at this issue dispassionately. I tried to explain these issues to folks here but they were more interested in labeling it a scam, and looking for who to blame. The Nigerian government and the bunch of incompetent people at the hierarchy of all government agencies behave and act in a rascally manner. The reason the proposal was given to Addax I strongly believe was due to the major promoter of P&ID, Rilwan Lukman was dead, so their project was hijacked. The logical step for the Nigerian government is to negotiate with P&ID and stop the grandstanding.

Tianamen1:
i just reread the article again. this is what i can understand.

Addax was willing to supply 100 (whatever) of wet gas since it needed 50 (whatever) to produce lean gas for its use in the oil field. total flared wet gas was 168 (whatever).

P&ID suggested that they would produce the 50 (whatever) lean gas for Addax so therefore, there should be no issue.

after all agreements have been signed, Addax now decided to process the whole 168 (whatever) of wet gas by itself.

P&ID appealed to the FG through diezani, but got no redress. they cancelled the deal and proceeded to court.


P&ID claims to have spent over 27 million dollars on the preliminary investigation phase of the project. also P&ID has also spent years working on the project. P&ID rightly sued the Nigerian government which is the rightful owner of the wet gas in OML 123 for failure to deliver on its contractual agreement.

the questions we should be asking are:
1 has Addax gone ahead to develop the said project
2 why was the project taking away from P&ID
3 did any nigerian benefit from the failure to execute this project
4 are there currently any steps we can take to reduce the fine
5 has P&ID ever sued any sovereign body before. after all, the parent company has been in existence for over 30 years.

The front of the BMW looks sexier and more intimidating than the Mercedes, but the rear of the BMW looks messy compared to the clean lines of the Mercedes. I’ll go with the Mercedes

Exactly! I said in an earlier thread that the security agencies know this kidnappers and are not serious to stop the business cos they benefit from it. This one was put out of business cos he attacked the deputy governor.

Xisnin:
This Akazawal has been operating on that road for years.
No one raised a finger against him until he attacked a deputy governor.
The DSS and the police need total reform.

Learn? I worked upstream for XX years. You just repeated what I just said, '' I used the JV agreements IOC’s have with the Nigerian government which they never get to fulfill their own part. The IOC’s decided to come up with the PSC concept since the FG will never do their own part, making us lose millions daily."'

I likened the situation to the IOC's and the FG as regards JV cash calls, because its the same reason that led to this P&ID situation. Complacency, weak internal controls and general irresponsibility on the Nigerian government part.

If the IOC's had applied the JV arrangement to fund the development of offshore assets, they would never meet their schedules. Who doesn't know that the top hierarchy of DPR, NAPIMS,NNPC are just a bunch of incompetent fellows who got there through quota system. The real professionals are relegated to the background.

athorello:
Someone need to learn more about JVs and PSCs. The PSCs run for offshore assets don't even favour the FG. FG and the IOCs are always working ways to sort out the counterpart funding issues, hence cash calls that the govt also defaulted in before PMB administration is now clearing them under low oil price regime.
What's been proposed for the JV set up now is the IJVC (an independent JV company).

Nice one! Wicked souls, let them rot in hell

Yeah, Addax is the major cause of the breach of contract. Thing is we are not privy to all the details of the contract. The P&ID guys are claiming the FG didn’t do enough to ensure the project took off. So they are suing for breach of contract, loss of expected revenue and loss of already invested funds.

9jatriot:
I have gone through the inside story, from what I can see, if there was a breach of contract, it was between P&ID and Addax, is that not how these contracts are run? The NNPC is supposed to be like a witness of some sort?

This P&ID project precedes the Gbaran facility built by Shell.

9jatriot:


Is this not the EGGF at Gbaran Ibie and Escravors?

You are welcome buddy. SPV’s are legal and it’s regularly used by investors all the time. My point in all this is, 1) The project was not a scam. It was meant to benefit Nigeria 2) We are in this situation due to complacency and incompetence by Nigerians in government at all levels. 3) The P&ID guys decided to cash out on our incompetence. I used the JV agreements IOC’s have with the Nigerian government which they never get to fulfill their own part. The IOC’s decided to come up with the PSC concept since the FG will never do their own part, making us lose millions daily.

9jatriot:
Thanks.
At least it is not me that is the problem in terms of the company website, and like you also seem to have suggested, this was probably a SPV to steal.
I will check the inside story and see what I can make of it.
Great guy.

Don’t mind the thief, he’s trying to be clever . Like it wasn’t his cabal that they forged Yardua’s signatures and signed off major contracts and even this P&ID deal

DameB:


How can the AGF say Ministry of Petroleum Resources doesn't produce gas? Are gases not produced from crude oil? I don't understand his point?

Let me give you a little background. The Nigerian government had planned to reduce gas flares by the IOC’s. Gas flares are wasted gas which occurs during exploration and production activities by the IOC’s. The plan was to capture this flared gas and pipe it to a gas gathering facility where it will be processed and supplied to the independent gas plants. Addax was already producing in one of the OML’s around the Cross River area. It was decided that the first phase of the gas treatment and gathering project would take place using the gas flared from the Addax operation. On paper it’s a perfect solution, but unfortunately the major facilitator of the company that was going to do the project died. This is a case of incompetence on the Nigerian side and the guys in P&ID decided to cash in on our incompetence.

athorello:
Addax, eh... Smh

What was their capacity/asset size as at the time of signing the contract? Remember, they're running a Production Sharing Contract (PSC) with the FG. Within this time the Addax has been acquired by Sinopec. I wonder the type of guaranty they could have given back then.

This clearly shows that the project was designed to fail ab initio.

I smell SCAM! But incompetence and lack of making a case from the outset of this administration has brought us this deep into poo.

I hope that the scam is unraveled.

Yeah, here’s the link, you can make your own conclusions, https://www.icirnigeria.org/inside-story-of-the-botched-p-id-gas-agreement/


I do not hold brief for P&ID. Whether they have a website or not is immaterial to this case. There are so many companies in the O&G sector doing a lot of business without any website. Most of these companies are comprised of individuals who have worked in the IOC’s or companies that were incorporated solely to corner juicy oil and gas contracts with the backing of Nigerian officials like the case of P&ID. Like I earlier mentioned. Rilwan Lukman was their major backer and unfortunately he died which might explain why the project was sidelined.

9jatriot:


You have been very civil, I like that. I read your previous breakdown of a report of an investigative journalist (I suggest it is a foreign which can suggest an attempt at image laundering and propaganda) but even then can you share the link.

Secondly, can we at least have the website of the company, maybe I don't know how to use Google again, but my own search is not bring out the company at all, can you help?

Lets get this straight, I didnt absolve anyone, i was merely stating the facts based on a report from an investiagtive journalist who had access to the court documents. I broke down the contents of the article as best as I could

wirinet:
Informative, but still trying to absolve previous governments, while putting the blame squarely on Buhari.
I will only respond to the red flags.



On what basis was P&ID given the contract? What is their antecedents, where have they previously done similar projects?

From what I can deduce, Rilwan Lukman was the major proponent for P&ID. Just like he pushed Afren. A lot of companies are usually used as fronts by our Nigerian government officials in charge of the Petroleum industry, so its not a new practice.



Who did they procure licences from, at what cost and what type of licences? What do you mean " international contractors to come up with designs for the project"? Maybe you mean to say consultants. You don't employ contractors to design a project, you employ consultants.
Had they procured the site for their processing plant? What actual infrastructure had they spent money on?

Contractors and consultants. In the O&G industry, for a project of that magnitude, they would need FEED designs, EPC designs, various licences specific to the gas industry, 3D modelling designs, etc. They would also have signed forward supply contracts with international supplier/contractors. They claim they spent $29m in getting all this together which is plausible in the industry.

The Cross rivers state governor, Liyel Imoke provided land for the project at that time



We need to know the Nigerian on the board of P&ID, he has questions to answer. The individual who was nominated on the board was not named


Nigeria signed a 20yr agreement based on the promise of Addax to supply gas to P&ID? does or did Addax have pipelines and infrastructure to supply the required quality of gas to the agreed site in Cross Rivers? What was the contract agreement with Addax? We need to hear from Addax.


Addax was already flaring gas from one of their fields in Cross Rivers and at meetings were they were invited, they committed to building infrastructre which included a pipeline that will channel the gas to the P&ID facility


How do you expect Addax to meet up with its expectations? You think building gas pipelines and infrastructure is an abracadabra? You just wave your magic wand and poofs gas starts flowing into P&IDs facilities (which was non existent as of that time anyway)

There was an agreed time frame by all the involved parties for building and takeoff of the projet, I believe it was 15months for the first phase.


It was even P&ID that said they were no more interested. If the company was registered in Nigeria, why not take the FG to Nigerian courts?

I believe their was an arbitration clause in the contract that allows them to take the matter to an international court of arbitration


If GEJ, agreed to pay $850m, why didn't he pay before he left office. He could have diverted the money he borrowed for paying salaries to pay for the money he negotiated for.

Unfortunately, I don't have an answer to this. The article doesn't go into why the GEJ government didn't pay before handing over


Even though I do not support the failure of Buhari to not appoint an oil minister, I would never have supported him paying a dime of that money. He came in when crude fell to $30 and Nigeria entered a recession, where did you expect him to get $850m from. If he paid, and the economy finally crashed as some people are wishing, they would be ecstatic saying Buhari crash and economy Jonathan built.

There was an option to sit down with P&ID and renegotiate, this was not done despite several letters to the PMB government



How would the project have guaranteed power? What was the installed capacity at that time? What was the transmission capacity as of 2010? Where was the pipelines all over the Niger delta conveying the gas first to P&ID's processing plant, and then the pipelines conveying the gas to the power stations?

This project was conceptualized under OBJ and the network of pipes to the independent gas plants were supposed to be built by P&ID. The cross river/Addax site was the pilot phase

Its sad most don't understand how Oil and gas industry works. Just like the JV's the government signed with the IOC's. The FG never meets up with their own part of the bargain when the IOC's make a cash call, this prompted the IOC's to come up with production sharing contracts, which till today is responsible for Nigeria losing a lot of money to the IOC's. Its a Nigerian culture, people here are busy playing the APC/PDP card.

networkfailure:


Tell them. Let them be arguing up and down. They think this is politics.
If u don't Nigeria gets her oil and proceeds payment from a channel of international investments firms. For example when Nigeria was exporting to USA Glencore handled d payments on behalf of d consortium of american oil companies purchasing oil from Nigeria.

if P&ID today presents d court order to such companies like do u have an idea what dat means.
U guys should better realize the gravity of the situation and this petty blame games.

I do not have the whole details. But the fact that the FG signed off on the contract after several meetings validates the contract. If your line of defense was valid I'm sure the Nigerian legal counsel would have informed the arbitration court well on time, don't you think? At the end of the day, both the FG and the P&ID company will negotiate terms of settlement. But we wished it was sooner than now that they have a huge advantage over Nigeria.

seunmsg:


The contract was signed by the ministry of petroleum and not NNPC. NNPC is the only agency that has special excemption up to a certain threshold not to take their contract to FEC and not the ministry.

I did a brief write up of an international investigation of the whole issue, which you were not able to comprehend. You were the one who came up with Jonathan/PMB angle. I'm not responsible for your lack of comprehension. Do have a nice day

tsdarkside:


it is....

because people like you want to turn it to jonathan against buhari matter....

others went immediatly online to investigate the lousy company,while you are busy defendin that lousy company....

btw....
where is the pipeline....??

Does FEC sign off on Oil & Gas contracts? Stop being emotional, this is not a fight about who you hate or who you love

tsdarkside:


dont you gerrit....??

whats the meanin of FEC again....??

dont be your own enemy....hate buhari my foot....

thats crazy amount of money....if it was jonathan,i would back jonathan....

dont give them shi shi....

Is that the defense you would put up in an international court of law? Even if that's all you care would it make the judgement disappear?

tsdarkside:


hey hey....full stop their....

Michael Aondooakaa, former attorney general of the federation (AGF), says the gas contract awarded to Process and Industrial Developments Limited (P&ID) was not approved by the federal executive council.

this statement is all we should care about....

First of all, this was an Oil and gas contract, does FEC sign off on Oil and gas contract? Does the international arbitration court recognize FEC? Was a contract duly signed by the representatives of the Nigerian government? If yes then its a valid contract

tsdarkside:


in nigeria it counts....deals must be sent through designated authorities to be approved....

people that understand law are tellin you and you still want to cut off your legs to piss off your arms....

What fight? The only option is to get P&ID to the table and renegotiate terms of settlement. This is already a matter before an international court of arbitration. Why the amount spiraled this high was because nobody from the Nigerian government sat down to talk to them.

tsdarkside:


atleast we should put up a fight and not just give up....

this is crazy amount of money....

Please nobody is happy that our country is being dragged in the international space, yes we should be patriotic does that mean one shouldn't call a spade a spade?

Aondokaa is being clever by half and trying to be sensational. Do oil projects get signed off by the FEC?

I just went through an article by an investigative journalist team who got access to the court documents and i will try my best to breakdown my deductions. Forget about all this APC/PDP blame game

The project was conceptualized under OBJ and the aim of the project was to gather the gas that IOC's flare into a system and use those gathered gas to power gas plants all over the country

Rilwan Lukman was the major facilitator for P&ID who assured them that they will get the contract

P&ID went ahead to procure licenses,engaged international contractors to come up with designs for the project, this they say cost them money

An investment vehicle for the project was duly registered in Nigeria, where Nigeria had a 5% shareholding and also a representative on the board of P&ID

After series of meetings, it was decided the project would be located in Cross river, and Addax petroleum agreed to supply the gas to P&ID for processing

Based on Addax agreeing to supply the gas, the FG signed the 20 year agreement with P&ID

After series of back and forth, by now Yar Adua was in power, Addax reneged on the earlier agreement on the type of gas and timing of the supply

P&ID were still willing to work with what Addax said they would provide

Addax still failed to meet up, I think at this time GEJ was in power and Diezani was asked to ensure Addax complies

After a whole lof delays and frustrations, P&ID wrote to the FG that they were no longer interested and subsequently took the case to the international court of arbitration who decided that UK courts would be the location to hear the case

This was where they came to agree to pay a compensation of $850m

Then comes in the PMB and his team, no one paid any attention to the ruling due to non-nomination of a substantial minister to take charge

And the rest is history

The whole episode is a good example of the incompetency of the people in authority. From top to bottom. the project was meant to guarantee power to the gas plants but at the end of the day, the Nigerian factor came to play!!

seunmsg:


My interest in this matter is not to defend the incompetence of government. I’m concerned about the overall interest of Nigeria and nothing else. It doesn’t matter who is the president, Nigeria should not be losing huge sums of money to a well organized scam like the P&ID contract. We should come together to stand against this sleaze and not support the scums trying to swindle is all.

As regards the president’s decision not to appoint a full minister of Petroleum, this case is one of his justification. The full minister of Petroleum in January, 2010 signed this contract illegally without getting the approval of the FEC. If he wasn’t a full minister of Petroleum as at that time, he wouldn’t have signed the contract and we won’t be in this mess today.

Waoh!! From my understanding, having gone through the story, the major cause for the failure of this deal was Addax Petroleum. Addax initially agreed to provide wet gas and it was based on Addax agreeing to supply the wet gas that the FG signed the deal with P&ID. Even when Addax flip flopped and came up with excuses, P&ID were still willing to compromise on the initial plan. Then comes in the Petroleum minister, Diezani who refused to step in and make sure Addax fulfills its obligations to get the project going. Then we had the attorney general of this current government who could have ensured that they renegotiated the term of settlement with P&ID but instead were grandstanding. Beautiful project concept but alas the Nigerian factor kicked it and scattered it. Sad!!!

You said he’s in his 50s, so yeah he could be trying to strike up a conversation with you cos that’s quite normal over here. Try to be as polite as possible cos he means no harm. As regards his having a towel when you are around, your boyfriend needs to have a talk with him and let him know you are uncomfortable with that. Y’all should be fine

Electoral violence is different from the kidnapping business. A lot of kidnapping cases are not reported. In Rivers state the kidnapping on the Emuoha road has been going on since 3 plus years now and Wike stepped up to tackle it, doesn’t have any connection with elections. The rivers state situation is more of local cultism which has become a tradition in all areas in the state. Kidnappings on Benin-ore, Ibadan-Abuja route, kaduna-Abuja route, Enugu-Abuja-Lagos routes, has more to do with the approach of our security agencies than elections

katlord:





I stand to be corrected cos the kidnapping cases just tripled after the election. For me guns given out during that period are still with the wrong hands. Alright look into this, why do you think a state like Rivers with the high electoral violence recorded, immediately after the election wike too security measures to buy vehicles and equipment for police including a special squad to combat crimes. The situation is sad cos I can remember yrs back when I frequent Lagos Benin-ore road, the only fear I had then was the terrible go-slow and port holes but insecurity has been blended to it

Post election violence you say? What about kidnapping cases that have been going on for two or more years on this very road? Please don’t try to politicize this. Kidnapping is now a business and it’s flourishing. It has nothing to do with pre or post election violence. The lackadaisical approach towards tackling the problem by our security agencies is the reason why these incidents are still happening

katlord:




On the contrary, these are the results of post election violence. Guns not taken back from thugs immediately after the election

Savagery......but he should remember that no condition is permanent, time will come when he will relocate to Sudan

Don't really see anything wrong here,the babe stated exactly what she wants, she is entitled to make her CHOICE. If the guy has the right mindset,rather than wallow in depression due to getting rejected, this message would be a motivator for him to succeed beyond her expectations!!