₦airaland Forum

buckeyemedia:
What is he doing, I know he is Jim Ovia’s errand boy?, I know the man has helped his banker friends become billionaires with favorable policies for the banks, to the detriment of the people. For CBN to function properly, it needs a true regulator, not a Governor that is from the banking community.

Fahdiga:
Buhari's negative records continues to manifest in every sector that even a goat can do better than him. Nigeria has been destroyed beyond redemption by this heartless Junta. Only God can save us

Davash222:
Can't the Governor work in getting their own Airline like Akwa Air than patronising mediocrity

saaron:
No Taliban didn't steal the weapons. It was left for them by Joe Biden and his partners in crime. No sane president on earth will evacuate the way Biden did and leave behind high tech weapons for the enemy. They'll either evacuate all the weapons or destroy them as the need may be.
No one leave behind weapons for the enemy. The entire world will reap the consequences of Biden's disastrous Afghanistan evacuation plan.

TeamLeader:
Really. Never watched it o. I'm gonna look for it. Thanks for recommending it

jumper524:
So I finally took my time to read and research fully on this pub bill to know what the controversies is all about.
Here's 2 thing causing controversy.

Frontier Exploration Fund: 30 per cent of NNPC Limited profit×
They are asking of 30% of the funds to NNPC limited profit which is about $15billion yearly to explore other basin where oil is being discovered. Chad, benue, Niger and zamfara basin.
If you ask me, I'll say it's too much.

Host communities to get 3% of NNPC profit for community develop
development
that's about $1.9 billion to be shared amongst communities annually..
That's small if you ask me.

Now the real controversies is that the presidency is proposing 30% Frontier Exploration while the national assembly us proposing 10%. Seems like the president won on this.

Also for host communities southern senators are proposing 5% while northern senators are proposing 3%.
Innitially the bill suggested a 2.5%.

Sirjamo:
Majority of those against the PIA have not read a single section of the act. They should answer these questions first:


1. If the 30% of NNPC running cost is to be used at the frontier basins, how much is the NNPC running cost and what is 30% of it?



2. Host communities will get their 3% from the oil exploration companies running costs, how many Companies do we have their and what is 3% of their running cost.



3. Critics say the 30% was a ploy to develop the north:


a. Are all the frontier basins in the north?


b. Can searching for oil be described as "Development"? ( Potential development might be correct).



c. If oil is discovered in the north, will the proceeds not increase the funds accrued to the federation account, to be shared by all states and FCT?

naptu2:
https://www.facebook.com/story.php?story_fbid=4482491498438748&id=492378324116772

thesicilian:
The children themselves are adults over 30yrs and they consented to the marriage, but the father is standing in the way of their happiness. What would you have done if you were the judge?

Lattop:
He might be top notch, Academically Brilliant but he's Politically Gullible

dawnomike:
I wonder why we keep doing this to ourselves... Do we every want to get developed as a country?

ogbiwa:
https://www.dailystar.co.uk/sport/football/arsenal-chelsea-willian-premier-league-24815063

stevenosa:
"However, Mrs Adefisayo said, the state government will continue to subsidize the boarding fees to improve the quality of education and the purpose of the establishment of Model Colleges and Upgraded Schools."

Have they been subsidizing the fees that we have been paying before now? Why did she not talk about all the MANY materials that we have to present to the school?

GerogeI:
Go sit down, you think you are the only person in the oil industry. Gross profit in the oil industry ranges from 30% to 60%. Low cost producers like middle east achieve 60% profit. In case you are also wondering, whenever you hear profit, it's Gross profit, not net profit as that is always subject to definition and litigation as you are already trying to insert.

See the link below
https://pages.stern.nyu.edu/~adamodar/New_Home_Page/datafile/margin.html
Oil and Gas Exploration and Production -> 50.97% Gross Profit as at Jan 2021. Also look at their Net Profit -78% as most will reinvest in new assets within same year, that's why nobody references net profit. Your PIA did not say which, pretty sure they will interpret it to be the normally bigger Gross profits.

GerogeI:
Stop trying to deceive people by the purposefully chosen confusing terms of the PIA.

In the oil industry Profit is about 40% of revenue, while Opex is about 60%. This is the only industry that makes this kind of profit. Others like electronics average 12-15%.

NNPC owns 60% of all productions except for marginal oil fields which is negligible.

Hence for Oil communities you have 3% of 60%(opex) of 100% Production = 1.8% of revenue

For North viz a viz FEF =30% of 40% (profit) of 60% NNPC production share = 7.2% of revenue

Who then is deceiving who.
Anyway, am from Anambra, it's all these confused Niger Deltans that are being cheated. They say it's better to be stolen from, than to be with Igbos.

obiekunie01:
FULANI WILL MESS ON OUR FACES USE YORUBA SLAVE AGENTS TO TELL US THE SMELL IS NOT THAT BAD EVEN WHEN IT STINGS LIKE A ROTTEN DEAD PIG!

WITH YORUBAS, THE SOUTH CAN NEVER BE FREE FROM THE NORTHERN OPPRESSION.

bigtt76:
And the banks will tell you they don't have enough dollar for you to cash out. So if you have $20k they will give you $5k in cash and advise you to convert to Naira the balance so you don't forfeit it to the government

When CBN came denying plans to convert all dollars to Naira, I knew this day would come. Reason why my dom account has less than $20
I

Nobody is converting your dollar Aunty!

perambulator:
if you are regularly depositing and withdrawing $10,000 in CASH, Your source of funds is not legit and you do not want to leave a trail!!!!!! FACT! if it was legit you would have no problems doing electronic transfer like most legitimate people transacting such sums.

olisaEze:
So if my dom acct gets foreign inflow of $100k at month’s end, will $90k be auctioned off without my approval? There are supposed to be limits to policy changes enacted by the CBN to protect foreign investment confidence na.

dignity33:
Gaga Angel in Twerking Competition with Bikini JMK at Friday night Jacuzzi Party.


https://www.youtube.com/watch?v=kfX8mjHSw3E

Lastmankc:
Why is he not pointing? Pontus pallate

Druss:
Let's do the Maths. Is NDDC saying that the IOCs have between 2001 and now realized 133 billion dollars from Nigeria in revenue?

Is NDDC saying they have not gotten money from the IOCs? I trust they realize that most IOC ventures are a partnership in some form between the IOC and the government i.e. NNPC.

This one is not giving full information. Also I thought it was 1% unless my memory fails me. When did it become 3%?

FarahAideed:
If PDP was still in Power this place would have been built up and Now and Dangote refinery working...PDP provided an investor friendly economy that attracted investor dollars

Grgton:
we have a very ineffective exchange rate policy !! Naira will keep depreciating if no action is taken . I believe CBN knows what to do!! This is not time for politics.

CrispyLiz:
http://saharareporters.com/2021/08/01/central-bank-governor%E2%80%99s-policy-somersault-foreign-exchange-bureau-de-change-dr-adeola

hybrid11:
She slim down,even the big boobs look small now
Cuppy my love

samsard:
They aren't ponzi schemes. CBN is just not happy that they're taking out scarce foreign currency, especially above stipulated limits and also trading crypto.

latiephwald:
So disappointed you could compare Nigeria to those countries.
Imagine a country of over 200m population with massive Natural resources etc
Compare Nigeria with some European and developed American countries

Nuelito:
we can't compare the standard of living in those countries to that of Nigeria...

There are better opportunities over there than here.

But correct me if am wrong.... am ready to learn from you sir

aminulive:
https://politicsnigeria.com/2023-nigerias-next-president-must-be-business-inclined-southerner-austyn-ogannah/

asiwaju60:
@COMPAQ

Please what role will nnpc play in this new bill.?
Nnpc still going to be operating as government
own company or what.

Thanks