What is he doing living in a house with rent of 20 million naira? That sum of money can build a house in his village and if he plans well, can buy him a land somewhere nice in Abuja and he can build his own. It only goes to show that he too can be VERY wasteful as he is trying to live above his means. Buhari, please cut your coat according to your cloth and stop trying to be what you are not.

As roadblocks are banned, they should also set up highway patrol services or at least have the police on standby along every highway (eg every 10km?) and major road intersections. If not, the police will wear another cloth and start robbing!

Foooooools! So the leader sends the boys to go blow themselves up and then he ends up marrying their wives. Maga of the highest order. Choi!

Up till this moment, I have no idea what the names of the ACN and other opposition party candidates are! It's no surprise that Dickson won hands down.

OP, you have already posted the story on a public forum and anybody could be reading this including a member of the panel making decisions on this case! The story is too unique to be mistaken.

That said, my advice is that you just tell the truth. Remember there were other witnesses there too and whether or not you were angry is not the issue. It is the way he handled a customer that matters. The only thing you can do for him is to help him plead for leniency. Things like this when they go unchecked are responsible for the rot we see today in our systems. If you lie, you may save his job but end up causing more harm to the profession and possibly your reputation. Besides, what guarantee is there that your false testimony will eventually save him?

Pls can u reference d source of your info? Thanks.

This is the more reason why everybody must openly condemn and stand against them. At some point, they will turn against those that even aid them for some stupid reason.

@ekt bear, I think you may like this idea iff we have more info. They have not said the majors must run these refineries with their own money for free. Remember that FG has about 55% stake in most of these companies. It is all about leveraging on them to get what we need. Also, we know that any money (CAPEX and OPEX) spent by the majors is paid back as oil is sold. I can authoritatively tell you that right now, some majors are executing projects on behalf of FG using their staff, contractors, etc. The question should be "What are the terms?". As I said earlier, under certain terms, the majors will gladly build the refineries and even operate them.

If this is true, I say: "Behold thy next president after GEJ!".

Well said Gideonyte. A lot of people don't know these things hence their stance on this issue. It takes people who have more info to see that policies like this are what we really need. These are the little issues that have kept the PIB from seing the light of day. It's all about interests.

Excellent news. More like this.

Under certain conditions, Shell et al will be more thab glad to build refineries and even operate them. The conditions are what we should be debating eg price of crude, market price, taxes/ royalties, etc. Also, the company doesn't have to do everything. They can sign a service level agreement or something. There are many possibilities but the bottom line is simple: WE MUST STOP IMPORTING REFINED PRODUCTS.

Russia sometime ago kicked out some majors when they introduced new policies. Also, Venezuela introduced some new policies and those that couldn't cope had to leave! Today, Russia and Venezula are better for it. Take note that the majors already have existing licences and those ones will be allowed to run. It is at renewal that the new policy will be invoked. There are many capable oil companies out there who will gladly take the opportunity. If it doesn't tally with your strategic objectives, you find your way.

BTW, the majors are already preparing themselves for PIB hence the repositioning you must have heard of in companies like Shell, Total etc.

No long thing!

It's our oil and our country. If you don't like the contract terms, then get out. Simple!

I thought they said boko was haram? They are busy chasing away the educated southerners and murdering corpers who would have been of immense help. Them neva start o. When full-blown epidemic go hold them to ransome no be mouth dem go take beg that time. Dumbasses!

PIB ’ll compel oil majors to establish refineries – Legislator

February 9, 2012 by Stanley Opara (Punch)

Mr. Dakuku Peterside is the chairman, House of Representatives Committee on Petroleum Resources (Downstream). He says the Petroleum Industry Bill, if passed, will facilitate full deregulation of the petroleum industry. He spoke with STANLEY OPARA.
. . .

Q: Some Nigerians are still not convinced about the real benefits of this bill. What do you have to say to such persons or group of persons?

A: The PIB is a reform- focused  act.  This simply means that it will reform a system that has been running for many years without any major attention.  First, it will harmonise all existing laws that concern the oil industry.  Secondly, it intends to promote more transparency in the way business is conducted in the oil and gas industry.  So, we need to inject transparency to it. 

Thirdly, more than anything else, the PIB hopes to make the local people in all the oil producing areas stakeholders in the industry.  This also means that it will introduce a fiscal regime in the industry.  In addition, there will be new legal and regulatory framework in the industry.  It will also restructure the existing joint ventures.  You know these lopsided ventures between the oil majors. 

This bill will definitely make these relationships more favourable to Nigeria and her people.  The current joint venture agreement is skewed in favour of the multinationals.  And so, if we must put the oil industry back in the hands of Nigerians, if we must put Nigerians in the driving seat of the commanding heights of the oil industry, then, we must restructure the existing joint venture agreements we currently have. 

Again, there is a provision in the PIB which says that if you produce a certain quantity of crude oil, it is mandatory that you must establish a refinery in Nigeria.  And you can imagine the employment that will be created when you have many refineries across the country.  Whether we like it or not, there will be a minimum of seven major oil companies that will be compelled by that law within 24 months to establish refineries in Nigeria.

  And so, common sense tells me that 24 months after the passage of the law, we will have a minimum of seven refineries.  It is common sense application.  You do not need any technical assistance to arrive at that.


 Therefore, if there is anything that will address the Nigerian situation especially as it relates to the oil God blessed us with, it is the PIB.  Another important thing is that the PIB will significantly address environmental challenges associated with exploration and drilling of oil.  It is one of the cardinal challenges we are facing in the Niger Delta.  People say this environment is polluted and degraded.  But the PIB will accommodate all of that.

Read the full report here: http://www.punchng.com/business/energy/pib-ll-compel-oil-majors-to-establish-refineries-legislator/

SHAME! I won't be surprised if those 17 are from the south. Dumbass almajiris.

Just like Fashola and Oshiomhole who have always displayed their maturity by actively contributing to issues of national interest even if they are high profile members of the main opposition party. Well done boys.

O thread, be thou resurrected! (For a very mischievous reason) Mu che che che

And so on the 7th Day of February, 2012 the 2011 presidential candidate of the ACN (Mallam Nuhu Ribadu) joined hands with the PDP led government and was appointed to serve as Chairman Petroleum Revenue Task Force. He may not have been appointed a minister, but was appointed to serve under the minister of petroleum resources. Congratulations Ribadu!

I just love this thread cos it never seems to go away.

Ribadu don put pepper for haters eyes. See as dem dey whine for here.

This move is like pouring acid on all d bad belle people against the GEJ administration who don't have a genuine reason for their bad belle. I dey laff ooo.

To those of you who wanted him to reject the offer: IN YOUR FACES!!!

Traffic violation!

Bravo! Well done patriot.

Nice, but we are miles behind South Africa. Just look at the gap

Uduaghan, come and see what your "mates" are doing. Shior!

Another boko ram is born!

Almajiri!

@Mechris, I also thought along that line. That's a possibility.

Nigerians! Nigerians!! Nigerians!!! How many times did I call your "names"

You have been asking for men like Ribadu. Now you have him and you say he is going the way of Abati! Do you really want Nigeria to move forward or you just hate GEJ blindly for no reason. I bow unto una ooo.

As boko continues to be haram in the north, boko will keep growing in the south. Let's see who wins in the end.

The only negotiation I will accept is mode of execution. Let them be given the opportunity to choose between death by hanging, firing squad, electrocution or lethal injection. Nothing else should be negotiated.