₦airaland Forum

naijasaints:
I am tired of GEJ and missing money.He should leave,we no longer need him.

Sorry but you sound dumb. This looting has been ongoing for ages and GEJ has been exposing and restructuring the systems.

Let me guess, you want to go back to the days where all lootings were kept coded within the elites? Thar was the reason why GEJ's predecessors refused to sign the FOI bill and signing the bill was GEJ's first assignment when he resumed office.

Talk of GEJ...talk transparency.

Ttalk:
NNPC is indicted, Oya, Madam Deziani come and explain the whereabout of the money

Deziani is not NNPC chairman... she is the petroleum minister. Your obsession about the woman knows no bounds

God bless GEJ for the freedom of information bill. All loopholes are being exposed for what they are. Its no more a case of quoting $50bn, $48bn, $20bn, $12bn, 30 trillion etc for political reasons.

PWC is as reputable as it gets. Its time for NNPC to refund the money and the FG restructure the NNPC. This is how a democracy works.... use the instruments at your disposal to cleanse the systems

Its time for the state govts to reciprocate the signing of the FOI bill at the state levels. Nigerians have continued to quizz the FG while letting the state governors loot their life away.

Fashola and Amaechi should sign the FOI bill before they leave office

Who is Nigeria is more corrupt than Tinubu, Atiku and Amaechi?

Amaechi does not deserve a response.

Once APC is that sentence....Violence must be somewhere in the summary

9jatriot:
Ok clearer now.

However I disagree with you on the amount of crude stolen on the waters when compared with that of OBJ, during OBJ the players were the small or medium boyz. Most of them were caught by JTF and had a 40% probability of pulling the deal off. Under GEJ it has become legitimate.

For Jv, I think its a 60-40% relationship, however he used a modest value of $55 in is calculation, even though we know that it sold for more than $100 in the last few years. Don't also forget that some of these Multinationals do not remit the true value of crude to the Nigerian government in collusion with same officials who also steal from the waters, so even the 400,000 barrels is small compared to what we lose daily. Moreover it was madam NOI herself who first insinuated 400k barrels when trying to defend a different position then, now that value is hunting them they are trying to reduce it to 100k barrels and calling it only.

Some countries get that 100k barrels to drive their economy yet our number 2 man says it ok for it to be stolen. that's the angle I am seeing this from.

I gave you figures reported as crude theft under OBJ which is 350kbd and has reduced to 100kbd under GEJ. Those small and medium boys you referred to were cleared by GEJ hence the drop. The 100kbd is left are the theft by key men who do crude tanker plug-ins. These people connive with everybody within the supply chain from JTF, navy, PPRA, customs and even IOC reps. FG has taken it a bit further by engaging the foreign refineries where the products are sent to to help identify the buyers and the moles within the various IOCs and govt parastatals. Once we nip this
... crude theft will be reduced to the bare minimum

U said its 60:40JV venture only but you are wrong again. Most Deepwater JVs have the IOCs holding about 56.25%. FG typically have less than 50% stake on Rich gas fields. Summary is that there are many JV agreements out there that is not consistent with old lovely 60:40 arrangements

You said the IOCs do not remit the true values of crude to the FG. Though I agree there might be sharp practices but the general assumptions is so wrong. The process makes it such that its almost impossible to under-report. During typical crude export from the tank farms, FSOs or FPSOs..... there is a minimum of 7 parties represented to sign of the export volumes. The IOC rep, DPR, PPRA, NNPC, Ministry of Finance, Marine rep etc typically sign off on export volumes right there in the field. Besides the crude tankers get scheduled very early and the volume capacities are known. Trust me its easier to burst a pipeline for crude than push to under report export volumes

9jatriot:
I have read your comments but I am struggling to get what you are trying to say. Please in few words, which of these correctly represents your opinion?

1. 100,000 barrels are being stolen but it is okay since it was probably higher during OBj's time.
2. 100,000 barrels are being stolen but the monetary equivalent is not as one of the contributors calculated because the JV have their share of the stolen barrels?
3. JV are involved in the 100, 000 barrels stolen daily and a fraction of the amount goes to them?

I know I will not be shot in the head since I did not mention 400kd.

I am saying we've gone from 350kbd crude theft under Obj to 100kbd under GEJ and we are headed for zero crude theft with ongoing efforts. We need to appreciate where we are coming from and where we are headed.

And am also saying its wrong to do an outright calculation of 100kbd x 55 dollars when trying to determine revenue loss to the FG. FG is only entitled to approx 55% of that amount if the volumes were not lost

iluvnaija:
You can tell from these pix obviously that the crowd here are arraingee. People are walking long distances facing untold hardship because all major roads are blocked. People are angry now, no road.

Is it such hardwork to make sense?

southniyikaye:
Guy u funny o..gej was suppose to right the wrongs of obj,that's why he is in that office!! Now u,u and ur paymasters are suPpose to be in one isolated place and cry ur brains out until it hit reset or it is formatted!!! U keep analyzing shit! Imagine a militant having war ships,a private jet and a university,an illiterate militant under gejs watch!! And u even have the balls to defend them? U r a shame to the nigerian youths!! So the money they used weren't stolen crude oil money right?

Stop chasing shadows lil brain.... they aint tangible

This clearly shows that the sabotage in the Nigerian Army has been the show stopper to this fight against Bokoharam.

The picture is clearer now. They staged the chibok attack to eliminate the option of air raids. They've termed it genocide in time past and they said the fight against Bokoharam is a fight against the north.

We should never have been one country if our security is not common interest.

Shame on the kidnappers of girls
Shame on those who made insurgency a campaign point
Shame on those who condemned the fight against BH
Shame on the enemies of Nigeria.

The fight is on and war must be won. Transformation is a must and evil forces of darkness cannot stop it.

Vote wisely.

Vote for continuity

We cannot afford any cut in oil production at this time of economic downturn. Will be horrible.

Zico5:
U need no debate at all, search ur google and get the fact. Then u ll see where u re wrong

In absence of facts.... run along.

haywire1:
Chaiii wettin u dey type wey no sweet for eyes sef. Obj = PDP corrupt ex-president, GEJ = PDP present corrupt president. Now tell me what's d difference btw the two?

We need CHANGE, VOTE FOR CHANGE

Sorry ..Obj is APC's pilot - Tinubu

olapluto:
If by 'JV' you mean joint ventures, then it makes no sense here. Oil is stolen, and sold in vessels and ships within the full glare of the navy.
It may interest you that the first lady might be involved in bunkering the 100k barrels. You cannot give GEJ praise for what he hasnt done, a problem that still persists.
GEJ is paying the militants billions (equivalent to thousands of barrel), yet oil is still being stolen. Paying a small thief to allow the big thief operate.

Like I said you cannot disregard the JV partener volumes and fund. So when next you quote your 20 billion. .. be informed that you have included the IOCs averaged 10billion in your calculations.

And yes I will hail GEJ cos he reduced crude theft from 350kbd under Obj to 100kbd currently. The money spent on pipeline protection contrat is less than 3% of what have been saved in crude protection.

As per patience having crude bunkering vessels.... I don't do mama put rumours. Put some facts behind it and earn a response.

Zico5:
Mr man it seems u re the ignorant one. If u mention 6.7 trillion on petroleum products alone, what of over 5 trillion accrued from tax alone per year. What of like 4trillion on import duty. Sum up everything and know how much we re getting as a country. The time for change has come and it will blow big time.

I dont do rumors. Provide the basis for the numbers you are parading. I provided mine...... point me to a link showing 9 trillion national IGR or run along.

olapluto:
At 55 USD per barrel, 100,000 barrels = 5.5m dollars! per day
That is $2 Billion yearly! or 400 Billion naira per year.
Buhari cannot come early enough!

Stop sounding stupid. Where is the JV operator interest in your calculation? Or you think the Shells and Mobils of this world produce oil for free?

And if you must know, its actually better now than what it used to be under Obj. Under Obj, we averaged 350kbd theft per day. GEJ cleared the creeks to the point it is now.

For APC dumbos

300kd is shut-in production due to vandalized pipelines and ageing production facilities. It is not stolen crude..... but rather unproduced crude seating beneath the soil surface

100kd is still lost to bunkering which efforts are ongoing to end it. This amount compares to 350kbd theft under Obj.

Any certificateless illiterate who mentions 400kd oil theft again will be shot in the head. .....Last warning.

Lol @ Mr Military Board

For the dummies making noise here

At 2.5million barrels crude export per day at averaged 100 dollar per barrel and an average exchange rate of 150 naira per dollar for the past few years and an averaged JV national interest of 50%......our optimal total revenue per an annum (365 days) is equal to 6.7 trillion. Note that I have used the high ends of each data both on production volumes and pricing

30 trillon will be our total oil revenue for approx. 5years. Please do the calculation yourself.

It will take a fool to argue that all the money we made in the last five years was stolen. The biggest problem with Nigeria is illiteracy. ..... otherwise some comments I've read so far will not even come up.

Soludo knowing whom Nigerians are threw out a number knowing that illiterate Nigerians will run with it cos they hardly reason. I've maintained that Soludo is desperately seeking relevance and a job.

APC will and Buhari will definitely be unhappy about the progress made against the insurgents.

But let it be known that evil can never prevail over good. Nigeria and GEJ will be coming of this mess stronger than the enemies of this nation thought

Shame to the kinappers of chibok girls
Shame to those who made terrorism a campaign point

GEJ continues

Some people go die on GEJ matter.

Hahahaha. GEJ till debates and certificates are. .......

I laugh at all these paid online agents screaming change all day.

Yet again, you lot will learn that elections are not won online. When it comes to grassroot politics.... Write off PDP at your own peril.

Its less than two weeks to teach you lot some real life lessons. There is no stopping GEJ.... Get used to that. All these abuja and Lagos based excited youths screaming change impact less than 2%, the north's disposition towards Buhari is religiously natural. The older folks in other remote states of SW and NC understand the person of Buhari and cannot be decieved.

Come feb 15, it shall be clear to the doubters.

I still dey laugh

Tinubu must locate the judge this night and he must name his price. They cannot destroy the general for nothing after all the financial, lies and propaganda investment.

Hahahaha

Thanks for the clarification Sambo.

Those parading a theft of 400kbd of crude are wrong. 300kd loss of crude is due to shut in wells as a result of vandalized pipelines. Only 100kbd is lost to theft and a lot is ongoing to end it.

Architect Sambo is a very eloquent and informed official. Am truly impressed.

Soludo desperately in need of a job and relevance.

Agbaje is taking Lagos... No arguments.

Gbam!!!

There is no way the middle belt will vote a fulani man after decades of invasion of their farmlands and destruction of their livelihoods by the fulani nomads.

The Buhari's of this world never called cautioned their kinsmens but rather went ahead to ask the traditional rulers...'why is your people killing my people? '

Pictures of tweets or you know the drill

otosa:
Ha ,my guy u need to consulte the doctor for brain's disability. because Jonathan can not stop the boko haram now doesn't mean the next president will be incapable to stop any unlawful activity by ND militancy. anybody that failed to obey the law will surely landed in the cell.

How far did Obj go at stopping them?
You need to understand that all they need is 20mins of destruction activities and we will not get out of it in 4yrs. They don't need to be out there everyday.... you need to understand that.

I agree with content but source?