₦airaland Forum

SternProphet:
Please stop this. All JV companies still pay royalties and taxes on the oil shared. The true formula ranges from 65 - 85% for JVs but things ar better for ol coys on PSCs.

What I put there isn't the actual %. It was just for illustration purpose so people stop thinking the whole money comes to the fg.

Can you see how useless the police is?

deomelllo:
www.nairaland.com/attachments/7014312_img20180423082845095_jpeg66503f52b94e3fb9c7e63c3bee308e3e



Again, you have poor, lousy and elementary reading and comprehension skills.


Your low IQ quipped you that 2 different statements on 2 different lines mean the same thing?

When you type and enter full stop before going to another line, that's the end of that statement.

One says she borrowed money from 2012 till Jona's last month in office/May 2015. TRUE

The other says she borrowed hundreds of billions to pay salaries. TRUE.

So, how heard is it to read and understand 2 different statements and simple English?

Are you slow?


Stop bothering me with your ignorant and elementary mentality rubbish.

Get the Bleep out of here, you this dumb idiot! Look who is calling someone slow. I bet you went to a substandard school and they didn't teach you that when you are enumerating points and listing them 1 by 1 and explaining them, each note under the listed item should obviously be in reference to the point highlighted there. See who is talking about having a high IQ. How does full stop ending a statement correlate with both notes under the same point, meaning different things? Mumu that doesn't even know the difference between the words "hard and heard". I should have known I was conversing with a brain dead nitwit all along.

babaolofin:
Thanks for your observation. You gave an average crude oil price in the market. Bonny Light did not just jumped to $147/barel in 2008.It rose to $118 /barel first. In 1999, obj met oil at $9/barel lower than average price which later increased. Yaradua was in power in 2008 but a sick man. Your madam was not the minister till 2011, there was no record of economic mismanagement the little time Soludo spent with Yaradua.When Anyim & his people came onboard, a state governor combined his governorship with presidential economic adviser post, madam was in power now with diezani at petroleum, there is another person in power, all the strategic parastatals where money can flow have their men remaining only CBN. That was how they looted Nigeria. High oil price for 6 yrs no saving at all, still borrowed money, the reserve obj left in 2007 was depleted from approximately $50 billion leaving about $25 billion. Remember Obj met 5.5 billion & debt burden

I like when people argue with facts. Foreign reserves was around $30bn when Jonathan left power and at that time, the value of the nails depreciated so much due to the perceived political crisis that was predicted to engulf Nigeria during the election. A lot of investors pulled out their funds and the demand for the dollar was so high. I'm sure you don't need further explanation as to why it affected us. Reserve that was depleted in 2007, had nothing to do with Jonathan. He wasn't the one giving orders at the time and I'm sure you know that.

babaolofin:
Sir, I agreed with you totally. My vengeance is this, in 2008, oil rose to $118/barel the highest in world's history , the oil rose to $140/barel in 2013 , the woman was still borrowing money, El - Rufai, Charles Soludo & international economic analysts complained against the policy, they were shouting Nigeria is the best economy in Africa. To test our economic strength & for political reasons, America stopped buying oil, oil price fell but oil subsidy bazaar continued. She had no option but to borrow to pay salary. She should be ashamed of herself.

Oil price rose to $147 per barrel in 2008 when Jonathan wasn't president, and the highest it got to in 2013 was a little above $110. As a matter of fact, it started dropping to around $90 towards the end of 2013.

babaolofin:
Sir, I agreed with you totally. My vengeance is this, in 2008, oil rose to $118/barel the highest in world's history , the oil rose to $140/barel in 2013 , the woman was still borrowing money, El - Rufai, Charles Soludo & international economic analysts complained against the policy, they were shouting Nigeria is the best economy economy in Africa. To test our economic strength & for political reasons, America stopped buying oil, oil price fell but oil subsidy bazaar continued. She had no option but to borrow to pay salary. She should be ashamed of herself.

Jonathan wasn't in charge in 2008. It's like most Nigerians have forgotten there was a president before Jonathan. Jonathan became acting president on the 6th of May, 2010. Shamsudeen usman was the minister of finance under yar 'adua from 2007-2009 and was replaced by Mansur muhtar. Ngozi okonjo iweala became finance minister in July 2011.

rusher14:
$70 and you call that fell?

How many of such concessions have you made for Buhari who was selling at $25?

Oil price only dropped to $26 in the month of February alone in 2016 and it's been on a rise ever since. Not everyone here is a zombie. Don't push that script you're trying to play as it won't fly. As at today, oil is selling for about $75 per barrel.

babaolofin:
Did he not borrowed to pay salary before left office?

Yes but that was towards the end of his tenure when America stopped buying our oil and we lost about half of our oil revenue. Government had to borrow to meet up with expenses. It's just like you earning 100k a month from your biz and you have budgeted and planned how your expenses would go and under that plan, your children's school fees and upkeep would take a certain amount. Few months into the year, your earnings drops to about 40k per month and you still need to keep up with your expenses that can't be altered. You'd certainly look for where to get the balance from which most times, would require you to borrow.

deomelllo:
I did not say he borrowed to pay salary in 2012, I said Jona borrowed money from 2012 until Jona's last month in office/May 2015


Learn how to read and comprehen


Jona borrowed N2.57 Trillion within 2 years





Jona borrowed N2.57 Trillion within his first 2 years in office, he was practically borrowing N107.08bn every month.


Again, learn how to read and comprehend.

It's either you don't understand what you typed, or you forget things quickly. Go and read your no 3 item. You stated clearly that he was borrowing to pay salaries.

Nigeria wasn't borrowing money to pay salaries in 2012. Get your facts right.

deomelllo:
1. The incompetent woman warned us about recession back in 2012. Why? Was this under PMG or Jona?

2. The same incompetent and Jona introduced austerity back in 2014 when oil was selling for $78. Why? Was this under PMG or Jona?

3. The same incompetent woman and Jona borrowed money from 2012 till Jona's last month in office/May 2015.

She was practically borrowing hundreds of billions to pay workers salary.

4. The same incompetent woman was the economic coordinator, but she was so dumb, clueless and colluding with looters that she left a battered and unversified economy.

5. The so-called finance minister couldn't even account for every kobo of public funds. The whole economy was leaking funds from NNPC and other money-generating agencies looting funds and refusing to remit funds into federal accounts.

6. Madueke opened dozens of illegal accounts and looted billions of dollars under her nose, but the incompetent woman looked the other way.

7. The same incompetent and clueless woman and Jona stole $2 billion and gave it to DASUKI ATM to share with their crooked and corrupt PDP cronies.

So, the useless woman managed our economy so good that she was prescribing recession, introducing austerity, borrowing hundreds of billions till her last day in office to pay workers salary.

She was so good that she left us with a battered and undiversified economy, depleted ECA and foreign reserves.

You people are just too ignorant and clueless, you think we arrived at this stage by accident.

This woman introduced austerity measure and asked you to get ready to suffer when oil was selling for $78, but you want to like like a king when oil is selling for $27.

You ippbs are just too mentally clueless and lazy

bekpo:
My friend, go get ur fact correctly, the least Jonathan sold crude oil was at $80 a barrel yet he was borrowing to pay salaries. Have u asked him what he did with d excess crude account left by his predicessor. Equally ask him how much he invested and or saved in his time that will answer ur question whether he was a saving president or a wastage and or a liability of a president.

This is a pure lie. Oil prices fell up to $70 in 2010 and Jonathan wasn't borrowing to pay salaries then.

Sirjamo:
If the economy was doing fine as you claim, why did they have to borrow money just to pay salaries? Why were 21 states unable to pay salaries of their workers and meet other financial obligations? Why did Buhari have to bail out states as early in his administration as June 2015? Why did contractors have to abandon all federal projects due to the lack of funds? How many capital projects did they execute despite oil boom? Where is the second Niger bridge that Jonathan swore to deliver when he was campaigning in 2011? 450 billion dollars from crude oil receipts alone in six years and not even a single functional refinery, what did they spent all that money on? can you show me pictures of any federal project commissioned by JonathanI Worth 20 billion naira in six years? Did Okonjo warned of an impending economic crisis or not?

This is not how to calculate what Nigeria earned under Jonathan. The figure you've mentioned is a gross amount based on OPEC prices. It doesn't represent nor take into consideration, deductions that would be made after the major IOCs take out their share from these figures, it doesn't take into account deductions for cost of operations, etc. Take for example, OML xyz is operated as a JV between chevron oil exploration and the nnpc with a sharing formula of 51-49% or 60-40%. If that field is producing 100,000 bpd and OPEC's selling price is $60,that would amount to about $6bn. $6bn doesn't go to the federal government but would be shared in agreed sharing formula between the fg and the ioc. Fg via the nnpc would still deduct their own cost of production before arriving at a net figure that would be remitted to the fg. There's a lot of misinformation out there in the media and it's killing us as a nation.

Wallade:
Oga, the plural is also "staff"!

Yes, you're right. Was an error.

Well,you both look like 2go users. Happy married life to you guys. I remember when I downloaded 2go out of curiosity and wanted to find out how it works. My younger sister decided to use my phone one day and she saw 2go on it. She then asked what I was using this local thing to do. I felt very embarrassed. She just deleted the app from my phone. I also didn't bother downloading it again cuz me sef been no understand the app. . As soon as you enter one room, you'd start seeing guys asking if you're male or female. A chatroom can have 30 guys and only 3 girls. They won't allow the girls rest. Everybody would want to chat and connect with them... The app looked like an app for thirsty niggas.

delishpot:
I think that runtown is too childish. Even if they reveal info to him must he kobalize them like that? Making such a sensitive claim on social media. I would investigate who the snitch is if I were dilly. On the other hand sha after thinking about it, if dilly has only a few staff it is then possible for them to snitch. Cos RT knows them he may call to ask and do some small amebo from time to time behind dillys back. Best to investigate and then deal with the snitch.

If he can't tell who snitched, best bet is lay all off and bring new faces in. Let them go and collect their salary from runtown.

frankblinkz:
things ppl fail to understand is that....u re not in runtowns shoes to knw wat he has bn facing....for him to alter such words, he must have bn pushed to d walls, one thing abt life is a master never wants to see his servants getting richer than him...That's d case of wizkid...kissdaniel...Tuface..and to tell u d truth,many artiste re not finding it easy.. This is business, take away sentiment of yes that's the person who brought u up, so this is how u want to repay!!!...my friends go closer to them and knw what they re passing true.. imagine with ur talents u still split money 70/30....for how long?

If he signed that for a million years, he is bound by that agreement. It doesn't matter how much the label makes from him. Most of you don't understand that labels in Nigeria can't use the same sharing template used in America or UK. In Nigeria, labels lose a large chunk of their profits to illegal downloads and piracy. Royalties earned here, are peanuts. These incomes aren't enough to keep any label in Nigeria, running. Investing in an artist in Nigeria, is a huge risk and nobody can invest in an artist and look towards a long term plan cos sooner or later, the artist starts feeling bigger than the label. Best thing is to put in some good funds, and cash out at the right time.

delishpot:
So because one idiot says trash he should sack his workers? Even if he lied?

Naah. Read his statement very well again. There must be an atom of truth in it. Let's imagine he truly doesn't pay his staffs, how did that info get to runtown? Besides, with the whole isht they've been having, there's the possibility of a snitch working for one party...

If I was Mr Dilly, everyone gets the sack asap so they can go work for runtown who "pays them". Nothing as dangerous as having your staffs sell you out to a former protege. That's the height of it all. Clear out your closet Dilly! Do it now!

Are there youths in that state? Can't they cause a serious civil disturbance and riot that would ground activities in the state? How can somebody just come up with outrageous demands and people would sit down and keep quiet? Nigerian youths are too docile for my liking.

Misterdhee1:
According to UNESCO, 65 million Nigerian Youths are illiterates out of about 118million youths in the country. Isnt that a lot?

That's obviously more than half, and very well qualifies as "a lot".

Suplexx:
I am yet to see in your screenshot where a lot means all, or where a lot means larger number.

However, Atiku was talking about all public universities graduates.

Well, if you still can't decipher what "a lot" represents even after showing you that screenshot, then I'm sorry to say that I cannot help you. Let your conscience guide you.

Suplexx:

Buhari did not also use the word 'lazy'. And he did not say 'all Nigerian youths'. If you could spot that Atiku didn’t say 'brainless', why couldn't you spot that Buhari did not say 'lazy', and wasn't talking about all youths?

Buhari said "a lot of Nigerian youths"... A lot in English language, is used to qualify a substantially large amount which could be up to half or more than. A lot doesn't represent a minute percentile. I hope you understand the difference now.

Check the image below. I never failed English classes all my entire life.

As much as I do not like Atiku, I must say to a large extent that this thread is deceptive. One, the quoted speech never featured the word "brainless". Secondly, there are so many students in public higher institutions who can't speak proper English. People who do not know how to use "is, were,are,go,etc". Quite often when you hear some of them talk, you start wondering if they skipped nursery and primary schools, and if they never came across "Queen's premier" and "Brighter grammar" in their early days of schooling.

So says the lying bastard from RCCG.

thedondada:
I am so glad. All this codeine drinking tramadol swallowing youths.

I can never forget the first time I saw some one gulp codeine in my presence. I was shocked out of my mind. Drinking cough mixture coke.

When we were younger and flexing, we never knew codeine or tramadol to be a source of highness. All we knew about, were cigarettes, marijuana, heroine, cocaine ,brandy, whisky, rum, vodka, beer and champagne. Everyone knew cocaine and heroine were death sentences and most people avoided them. Only the extremely foolish ones indulged in them. Even marijuana was off limits for a larger percentage of us as we had seen people run mad by taking it. Our source of highness was beer, brandy,and the likes. They were not addictive. How this new generation came about codeine and tramadol highness, surprises me.

This keyamo of a man is a big fool! So, the fact that GEJ went to churches to be prayed for cos he felt he could seek God's support to win the election, automatically means he divided Nigeria along ethnic lines?

Smart thinking. I don't think pdp needs to merge. They just need a credible candidate.

Op, your article no join. Lagos is very expensive to live in, traffic is extremely terrible and the crime rate in Lagos is high. Stop misleading people.

God, I thank you for the fact that there was nothing like this during my juvenile days up till my late 20s. I thank you for not allowing me do drugs during my earlier days in life... Dude, find a way to tell both his fiancee and mum. Give the fiancee a clue where he keeps those stuffs and when next she gets to his house, let her play towards that place, and find it. When she sees it, let her confront him.

Stupidity raised to power 100. I wonder how old he is cos only a person with the brain of a child, would do this.

Gross! Dirty pig!!!

Can you just imagine the amount of nonsense? Please, someone should tell Trump not to sell sophisticated weapons to the Nigerian military cos this is the type of thing they would use it to do.