₦airaland Forum

I've punctured this analysis severally on NL. It shows whoever did the calculations doesn't know the ABC of oil business. It is a case of ignorance gone on rampage. I won't bother to repeat my corrections here again except to ask; Where does Mobil, Total, Shell, Chevron etc get the money to pay for staff, recoup investments, gain profit etc. Anyone interested can google it.

Meanwhile, I hope we know the effects of shutting down all our facilities. Even nations at war still keep up production. If we shut down, oil prices will take a slight jump. USA, Europe, etc (who are very proactive and I can bet, already have a backup plan) will find alternatives. Saudi will open more valves and Angola will also smile to the bank.

Back here the story will be different. In a minute or 2, Power from gas turbines will be knocked off the grid (Gas is not stored for power supply). Within a week, refineries will shut down and most of us will not be able to move more than 10km from our homes. Telecom companies will run out of supply and Pinging shall cease. NL will be inhabited by all except Nigerians in Nigeria. Etc etc.
But guess who gains? The NIGER DELTA! The life span of her God-given resource will be elongated for a few days probably into the time when the resource will be better managed for their benefits or better still, when Niger Delta will manage ALL of her resources by herself!
Anyway, I don't see this happening anytime soon. But if it does, be ready for the worst!

Militants used to shut down facilities. These days, they keep 'en runnin - Efisher

The effects of INSECURITY at play.

I mean, rather than impose a state of emergency on the whole nation, we could just "simulate" a strike. I've learnt one or two leadership tricks from this.

I like to see things from many different perspectives. This is one very odd but probable one. Not many can chew it though.

Pls does anyone know when d next meeting is scheduled to hold?

Love 'em or hate 'em, Sanusi & Iweala have put the facts on the table and taken the right economic decision as any reputable professional would do. The only challenge is the timing which I hope the negotiations will help put right.
If this pulls through, we should be ready to write their names in gold in our history books as the heroes of our economy who helped us put an end to monumental waste.

Ekt-bear is right. Shikena!

I score Pastor Ayo 100% for this piece.
Shame on southern governors for not insisting on an end to the madness of "marginalization" and "murder" of their citizens in the north.
Shame on failed politicians for taking advantage of the situation.

When is d next meeting?

My guesses:
1. N65 now, N141 in
April.
Or
2. 90-120 flat rate.
Either way, FG's objectives will be met as planned.

Jonathan the giant killer is highly underrated.

Unfortunately, we are not yet tired of Boko haram talk less of corruption. Hard truth: We are too shortsighted!

If Fash were president, PMS would have been selling for N160. Not only would he have removed subsidy, he would have also added some tax to it. I trust my man.

We r waiting for those who have "reliable sources" (spies) at the meeting.

Fashola did not contest for presidency in 2011. If he did, I would probably have supported him.

Yes, if the president had given him a Go Ahead!

AsoWood!

Acid test: If we revert to N65, will the protests continue? Will the movement against corruption etc gather more momentum?

I think only a few actually know we should be focusing on the weightier issues. Unfortunately, the "average" protester just wants his N65 shikena.

We need a new crop of "activists" to spearhead this movement as our legislooters have failed woefully in the task of checking the executive.

Nollywood needs to learn a lot from these actors. FG, NLC and Pengassan have been able to execute a well rehearsed movie with enough suspense to occupy the entire nation. The outcome will tell.

Brilliant, but what about kerosene? That also has some subsidy.

Pathetic. 1 + 1 in 9ja is 11. The remaining 9 is for bribe "settlement"

There's more info on this. Just do a little google search and see how it works.

This aspect is not too contentious. Where we should be looking at for corrupt practices are:
1. What is our true daily production and How much is lost to illegal bunkering?

2. Internal procedures at the HQ of corruption; NNPC. Specifically OPL & OML issues, award of contracts, value of contracts, etc.

3. JV / operator relations. What is the true value of the OPEX and CAPEX etc.

All the money doesn't belong to Govt. Some is paid back to JV parteners to cover cost (CAPEX and OPEX), some is shared among the JV partners as profit etc. The profit shared by NNPC is abt 55%. It also is responsible for 55% of the invested money. This is in addition to royalties etc paid. Our budget is usually based on a certain price per barrel e.g. $70 per bbl. The balance is what u see in the excess crude account (Now Sovereign Wealth Fund if I'm not mistaken).

Civil servants are enjoying this self imposed holiday. They've not had enough of it yet.

Lagos "owns" this whole process. Una we'll done o, But be ready to "shift ground" like NLC when time comes for d sake of peace.

Interesting drama. Let's see the final outcome at the end of 2day.

Thumbs up revolt. I'm happy a few Nigerians like u who can see the big picture are still out there.

Apparently, we will need another more reputable member of the NASS to corroborate his claims. This is the definition of "lack of trust for our leaders". We've been really bastardized.

@Oyb, if you were not blinded by sentiments, you would have seen my reply CONSPICOUSLY positioned just 2 posts away from the OP's. Happy now?

Not so fast. Let's wait till the "negotiations" are concluded. I think FG already has us dancing to its tune.