₦airaland Forum

The need to control the oil resourses has become a curse on nigerians, will we lie without shame because of it...na wa ooo

lastpage: There is NO ERROR!
We are talking about the "VALUE" of "FOUR OIL BLOCKS"!

15/4 = 3.75 Trillion Dollars worth of Oil in each Block.

@about $100/Barrel, that means each Oil Block has a potential capacity 37,500,000 Barrels of crude Oil.
Now you see, the figure is not that inconcievable.

Note that she has NOT DENIED the Theft, she only said it was a PROPER THING SHE DID!

God help us inthis country, even as we must be resolute in helping ourselves.

Lastpage!

Jesus christ, how ignorant can one be? Nigeria sells 2million barrels daily, annually at $100, this abounts to about $80billion.
For the luv of GOD, can you see that this $15trillion story is very childish?

Fellonigerians: When Prof Nnaji submitted a bid in a transparent process for a power plant, he was let go shortly thereafter for conflict of interest...

If this is true, let us see what the fed govt will do... this will be a clear example of Conflict of Interest...

I doubt the figure of trillions...

U are definatelely dull

Ricky_Ross: I am not doubting that this woman could be a thief just like most Nigerian ministers and politicians, but I am baffled that Most of our so called educated illiterates on Nairaland believe this woman has stolen 15 TRILLION US DOLLARS?

I have no university education, but I can bet my entire life earnings that no OIL block in Nigeria is worth 15 Trillion USD. HOW MUCH IS NIGERIANS ANNUAL INCOME FROM OIL? WE ARE TALKING ABOUT 15 TRILLION US DOLLARS AND NOT TRILLION NAIRA.

If we start drilling all the oil in the Niger Delta from now till the next 10 years, I don't think NIGERIA WILL GET 15 TRILLION DOLLARS TALKLESS OF from JUST 4 OIL BLOCKS. Dont be surprised this newspaper editor could be a masters degree holder. I call these kinds of news cockk and bull story. Unless ofcourse they figure is in Naira and not US Dollars.

Look, nobody is interested in what you are writing here, as long as the media in the SW is not comfortable with Ijaw people at the helm of afiars, controlling things in the oil industry, we are going to hear all sorts of stories.....

i.hate.nig.gov:
OUR PRESIDENT IS C¡UELESS!!!
It is now very obvious that our president lacks focus and commitment to fight corruption andinsecurity in this country. We woke up one morning to the news that Alameisigha (formerBayelsa Gov) has been granted presidential pardon.Some days ago the Joint task force (JTF) said they recorded the highest arm recovery and most successful operation against Boko haram with the arrest of 70 members and the killing of 52 due to the president's visitto Borno and Maiduguri.
These are clear indications that themilitary know what to do to stop Boko haram but are acting on orders not to disturb them.I also suspect that the president himself is championing a struggle to ruin thiscountry.
If not why would they record this feat during the president's visit
Secondly, what qualifies Alameisigha for presidential pardon
THIS MAN MUST NOT BE LEFT TO RUIN OUR DEAR COUNTRY.
ENOUGH IS ENOUGH!!!

What kind of id10t are you?
from unfounded rumours to ignorance....
has alams not served his term? do you know what discresion means? is pardon not meant for those you have done wrong? you are just a child sha being lead astray,

A lot of nigerians lack sufficient depth and width to contribute to such a topic,
The main reason sincere nigerian opened these thread is to enable us reflect on ourselves and how we go about fighting this corruption of a thing...but all we want to do is look at GEJ....

There are several actions a government can take to reduce the amount of corruption in his domain and this would help in the total push towards corruption...a lot of us want to ignore this fact, we just want to be driven like he-goats to ask for the head of GEJ...

Going back to the topic....why are our governors not doing much to reduce the level of corruption in their domains...well for one...it is free money... oil money is seen as free money..., the survival of the state does not depend on engourging people to generate wealth

Cashflow1987: m.u.m.u wich rumours? I bet u G.e.j is bleepin this woman if nt how can such b.tch stil remain petroleum minister?

Read what you wrote? and u you are bold enuf to call someone m.u.mu...

Imagin this woman in the same room with your mother, i know you can see your mother shaking with inferioirty complex..

Liberal2020:
Deja Vu! The essence of this probe and as with many of them is to cut their share. Once the minister agrees to settle them their share, they will give her a soft landing. Our leaders have a deep sense of humor; they do this smugly thinking we are fools Another Farouk saga imminent

You keep playing the cheated victim, I think you have to re-orientate your view of life, nobody owes you a good life...life is simply what we make of it.

Liberal2020: What planet are you from? Are you a Nigerian? Let me tell you something before you dey charjara, even if in my sleep, I'm told that Mrs Madueke has 200 oil blocks, I will believe and take it at face value; no questions asked.

You are free to believe anything you like...but I still believe without evidence, we are just dancing like mad men

lari03: First and foremost if you catch the drift that Mayowaak was putting across, he was simply saying we need to look inward and challenge ourselves to produce more, that in itself is utilizing potential.
There are people who have the potential to change this country with the current system, but those holding the money bags prevent them from getting there. How can they then effect change if not given an opportunity? Caucasians take advantage of our stock market to earn great returns, because we have the potential to give them returns.When the average Nigerian did so they got burnt badly but ask yourself how exposed was the Nigerian economy to the global economic meltdown? when what we experienced was people mismanaging their positions.
So my point is if the system is working as it should without changing much we can fast track development of other industries to create more wealth and generate more value, but the system hinders productivity and it promotes hegemony.
Listen cash at hand is nothing spectacular, if there is no value chain behind the money what you experience is the lottery fizzle( where you spend and spend because you came into new money without working for it and end up spending it all without any worthwhile achievements.).Yet this is what successive governments have done,paying lip service to diversification of the economy.
In 2010 I saw the actions of the FG and I felt they were actually throwing money at problems without actually considering the tasks at hand and the multiplier effect that it would have on the economy,what we need is a systematic appraisal of how much we get and how to use it without wasting it to achieve more. For instance Bayelsa gets a higher monthly allocation than Ekiti state, yet it is not better off(in terms of poverty alleviation and infrastructural development) so you begin to wonder, where is the all the money utilized?
On the other hand if states were to be given full resource control, there would be competition and development, but I believe there are issues that have not been addressed to give room for this.

You need a one on one session,

kaysy: I Think the woman deserves to go, Only Jonathan knows why he chose to retain this woman in office

The president of a country cannot make critical decisions based on unfounded rumours

EU got it totally wrong, corruption is not and has never been our problem,
Nobody ever became rich by depending on exported raw products....

Our entire system has now been configured as a comsumption system, production is not encouraged,
all because the rest of the country (Core north and SW in particular) are afraid of the blazing progress of the Igbos...

yeboyes: Are you for real? How can you even say that? Nigeria makes more money in one year now than the brits ever stole pre-Independence so why has our leader not used those huge amounts of money to develop Nigeria? This is the same excuse many Africans make but they fail to realize that the problems of their countries are mainly of their own doing.

Below is the picture of a Borno state's politician son sitting on raw cash up to the amount of N100 Million.Is he also British or is it the British that asked his father to steal all that money and horde it in their house?

Is the British that instructs our governors, senators , ministers and president to embezzle government funds and store them in offshore accounts?

Is it the British who instructed Nigerian Governors to use public funds to purchase private jets or buy cars for tuface wife?

Rossik i thought you were a genuine patriotic Nigerian but i am starting to wonder if you are not a Government agent planted here to promote Jonathan's Government. I appreciate your threads which shows pictures of nice places in Nigeria but you will do great damage to your reputation if you continue to peddle lies like unsincere9gerian and his minions.

The same South Africa you are comparing Nigeria has more intelligent leaders than Nigeria. In 2010 ,South Africa suffered minor power problems because their population had grown substantially and their grid was not able to cater for everyone. What did the South African Government do? They built new power plants and set up a program to regulate power usage. Today the power is still on 24 hours a day without a single glitch .Mind you SA makes way less than Nigeria daily.

They did not set up hundred committees or change power ministers like Nigerians. The president simply ordered that new power plants be built and they are being built, no long stories. Yes it is that simple if you have good and intelligent leaders. Providing power for a nation does not require rockets scientist just patriotic and competent people.

So why can’t Nigeria set aside say $20 billion dollar from the money it makes annually to build new coal plant, dam or nuclear plants? Is it the British who is holding us from doing so? Instead we are privatising it and building IPP which will still not be sufficient as they are small scale IPPs.

Jonathan and Nigerian leaders are brain dead. They make simple problems look like complex scientific problems because they are not intelligent or patriotic.I dare say that if had was in power Nigeria will be free of power outages within 18 months. The newly dredged river Niger alone can provide a brand new dam with ship lift like the one in china. We have enough shoreline to build one or two nuclear plants and Niger our neighbor country to the north with supply us with uranium .The northern part of Nigeria is home to a large desert which can easily house massive solar panel plants that will add more power to the grid.

If I was president , I will trim my budget ,cut down Govt officials salaries by 80% and set aside at least $20 billion dollars yearly to pay for these power projects. Within 6 years of my presidency Nigeria will be fully lit for 24 daily.

Enough of blaming the west for everything. Be honest ,man up and admit that we bleeped ourselves up. The same Britain you are talking about is where Nigerians are flocking to for a better life.Since the brits left Nigeria has earned over $600 billion.So pray tell what our leaders have done with that $600 billion to play catch up? Are you saying we not must fix our country because the brits colonized and did not fix our country?

ol boy, the FG doesnt even have up to $20billion to spend a year, try to be resonable

The champion governor and the pride of the Yorubas can never be seen directly promoting Igbo business acumen...
His runs against all established laws of Igbo-Yoruba supremacy competition.

Convenient excuses will always be found as to why it cannot be so.

ayox2003: Op, we cannot delve into topical issues like this without an understanding of Nigeria's wealth. If I'm not wrong, the wealth of the country is what you are talking about - national wealth. By definition, total national wealth is the total sum value of monetary assets minus liabilities of a given nation. It refers to the total value of wealth possessed by the citizens of a nation at a set point in time.
Alas! The definition is self-explanatory. The keywords are assets and liabilities.

Straight to the point: our assets include both human and natural resources. Liabilities: monetary debts, wars and natural disasters that could wipe out a both natural and human resources. Do the math, Nigeria's wealth is not overrated. Infact, it is underrated. Listen closely, we are rich!

From the Late Chinua Achebe, Wole Soyinka - the great names in literature, to Philip Emeagwili, Prof Akinwande, Ndibuisi Ekekwe - the great inventors, the entertainment kings like Fela, Victor Uwaifo, 2face, Omotola Jalade, or entrepreneurs like Seun Osewa, Tunde Olabenjo or artists like Yusuf Grillo. In any field you randomly pick, there is an outstanding nigerian present. Plus all the unknown nigerians starting businesses and innovations everyday. OP, our human resources is an asset. I wanna add that the fact that the FG doesn't help millions of nigerians in any way makes us an asset too. We create our own electricity, water and shelter. Oh yes, we don't receive a dime/support from the government. Since we are not a burden on the government, then we are not liabilities. It means more than 60% of nigerians are 'virtual assets'. Abi now?

Natural resources: bitumen, oil, zinc, bauxite, gold, lead, tin, cocoa, cotton, groundnut, sesame, coffee, oil palm, livestock, rivers, solar, good weather etc. These are assets. Even Congo that has Cobalt worth $54 trillion cannot stand at par with Nigeria if all these resources are converted into raw cash. Our liabilities cannot match our assets even if its being doubled. How much is our debt? How often do we have natural disasters that create a whole lotta mess? How many times have we gone to war? Almost zilch.

Without going into why there's little development vis-a-vis our wealth, which I believe Mayowaak has trashed quite well, Nigeria's wealth is not overrated at all.


Frawzey

Chief we are talking about cash on hand to spend, as of now, the FG and all 36 states is less then $80billion annually,
Secondly
With wealth generation in mind, the issue of selling unprocessed raw materials like you are advocating will die a natural death

lari03: I disagree with the topic. I actually feel Nigeria's wealth is under rated. Why? because of our potential. You are measuring per capita income (if I get your point correctly) however I am more interested in measuring productivity and creativity.
Lets take Chief Raymond Dokpesi as an example, his foray into broadcasting became a platform (raypower and AIT) for younger men who had talent Dayo Adeneye and Kenny Ogungbe to become entrepreneurs and these guys success inturn raised other younger men like Eedris, Tuface, Tetuila; this spurred the industry and its become a better projection of what Nigeria can offer. Though piracy is still in issue in this industry, yet progress is being made gradually.
In terms of our development Nigeria was set backwards the most by IBB. We are still struggling with the structures of institutionalized corruption of his regime. How ever Nigeria still is better than Angola because as someone commented above, we have more mineral resources which are being exploited (though not as widely as oil) but still enough to generate employment and foreign currency.
The issue with Nigeria's wealth is its distribution. The problem is those that amass great amounts of public funds rarely invest such funds to make the nation and their communities better instead they go on amassing property and storing the money for unborn generations.
This leads me to conclude that the spate of armed robbery and kidnapping in the country is proportional to the perceived lopsided distribution of resources and the attitude of the wealthy class, which is why sleek vehicles and high brow residential areas are now under the surveillance of men using ammunition to seek a livelihood while women without claims to nobility use their bodies to hustle for a means of livelihood. You can argue that this miscreants are not being creative enough,but it is not possible for everyone to act and think the same way.

Bros, firstly we are talking about actual wealth! Not potential, we all agree that nigeria has the potential, there's no argument there..
Actual wealth as of now is very low, because as sincerenigerian and mayowaak have said, our emphasis is on wealth distribution instead of wealth generation....it seams you are finding it difficult to grasp the magnitude of our problems, and that is why many Nigerians easily get swayed by the likes of eko ile, demdem, dayokanu and the other low life's....

The analogy by mayowaak was great but if you didn't catch the essence, read again and ask youself this question, is the problem that the father does moth share the wealth of the kids generating wealth properly or with the fact that only 6 kids out of 36 are generating wealth

As usual, people will make comment without bothering to check simple facts and figures...hear-say rules!

Sometimes it's really sad and shameful to see lies deliberately spread about someone....but what's worse is when you see loads of ignorant people reacting to the mis information.

90% of the people that reacted here don't appreciate what went on or how matters in the oil industry proceed, but just because an ijaw woman is at the helm of affairs...they have this evil desire to run her down....

These same people will always criticize the woman no matter the action she takes....and the reason is simple...a smart, intelligent woman of ijaw extraction is in power...

Let me ry my best to enlighten those who wold like to be enlightened

1- the OMLs in question were owned jointly by NNPC (55%), SPDC, Agip, chevron, etc (45%)
2- SPDC was the operator of the joint venture
3- SPDC, Agip, chevron decide to pull out and sell their stake
4- IOCs stake sold to Nigerian companies (first mistake, communities not involved)
5- confusion as new Nigerian companies thought they will automatically become operators, NNPC refuses!
6- NPDC becomes operator of OMLs as stipulated in JV contracts, new Nigerian companies not to happy, but can't do much
7- NPDC does not have the immediate capacity to operate the OMLs
8- NPDC hires Nigerian company to manage on its behalf (second mistake, communities not involved again)

Clearly, from this simple summary, one can see that NNPC did not divest its stake in any OMLS, as claimed by gbawe and the news info..the amount money being mentioned is ridiculous.

Lets refer to the two mistakes I identified, lets assume that he minister stepped in to force the IOCs to consider communities or forced NPDc to ensure the management of the OMLS were contracted to community owned contractors.....who would be he first to rush to Naira land to claim that the minister is a tribalist?
The exact same people....

What a world of idi0ts we live in

kelvincoll: Chicken change...Nigeria has got it and in abundance .

These is we're the deftness begins

nedu2000: Secure our borders & military administrators imposed in the most heated states,politics shouldn't be played with people's lives.....GEJ should provide results,simple!!!if he can't,he shouldn't give excuses,let him leave so we can someone who can

My friend, find some gutter to sleep!!

Afam4eva: Nigeria is a one-city country whereby everything is concentrated in Lagos. From white collar to blue collar it's all in Lagos, so almost all the opportuntities are in Lagos. The FG actually made this possible. That's why there has to be a concertede effort to decentralize the economy ffreom Lagos. Other state governors also need to do their bit to attract investments which will in turn create jobs that will prevent people from running to Lagos at the slightest poverty provocation.

But its not that easy, because for a long time the FG was solely concentrated on Lagos, the FG cannot afford to concentrate on all the states in that manner in one go.

kingingkinging: Now that Abuja is the Capital of Nigeria for more than 20 years, how many jobs has Abuja created or how many people do you see after graduation that run to Abuja?

You like to look for answer where there is none.

Lagos has always been a place synonimous with progress and advancement even before Nigeria's independence.

The development of Lagos started with palm oil money from 9ja delta, and continued with crude oil money...dont start another type of story here

anonimi: [size=14pt]Because it has been developed by the federal government for over five decades with the Niger Delta oil revenue.[/size]
IF the revenue allocation is changed to revenue CONTRIBUTION as it was before Nzeogwu's January 1966 coup, there will be more development in the Niger Delta and people will flock there for employment.



________________________________
2015 - Next Level Democracy.
Join a political party in your LG ward with folks & friends NOW!

You said the truth and nothing but the truth, so help you God.

[size=68pt]For the f00ls assuming this
Amnesty does not mean cash payments [/size]

Akanniade: Its 65k in lagos

R u serious, I bought mine for almost 120k in oct last year...the suppliers number is 08033106892 or 08027866492. Jide

TotalGreen: @George_D: Correct!
@DaLover: nice one, send us snap shots of the mppt readings at very high current
thanks

Ok will do, but it will have to be weekend when I am at home.
Thanks

There are strong suspisions that Buhari is backing the Bokos, however there is no hard evidence yet...its a matter of time...
At least we know that Boko Haram admire him, that is why he was nominated as their spokes man....

But come to think of it, why would Buhari just stand by and watch all theese violent acts happening, ok, assume that the Government is not doing enuf, isnt he suppose to be a leader? according to okupe...he can't even visit the victims, the churches, the southners to symprtise with them...
na wa sha...

shithapuns: wow nice one @ da lover!!!....how much did u get the 280watts solar panels?
@ georger d....what type of cutout do u recommend?..i learnt the normal ac cutout isnt good?..so which one do u recommend?..u hv an amazon link?

The installer based in ph imported it from USA, they are suntech

George_D: hello dalover,
congrats on your installation. i'm especially impressed with your battery rack design.
very compact and neat. did you consider installing a cut-out fuse between the battery
bank and charge controller and also between the solar array and controller? very important
for safety.

Thanks, I got a near by welder to construct the battery rack, it was some learning though, he was able to achieve this after two attempts...
I use a 60amps breaker between the battery bank and controller and also another 60amps breaker between the controller and the panels.

I was able to convince the installer to use a simple Change Over Switch for simplified isolation of the battery bank, while connecting the house load directly to nepa or gen

auto phase selector, built using 3 types of relays, relevany when nepa keeps changing the phase of power supply to the house...these has been serving me for a while but in the last few days I observed that the low voltage supply to the house has distroyed 2 the contactor coils..I now need to incorporate a funcationality to handle the low voltage.

The batteries are specially designed for rapid charge and discharge, a must if you leave in an area with very unpredictable power supply,
The battries spec sheet says the charging current is 0.25I₁₀ for a 6 hour charge(i.e from 0 to full)
The batteries are 190ah each, so they can take a charging current 190/4 or 45amps,
total charging current for the three banks is 135Amps