₦airaland Forum

maasoap:
Solid mineral sector was abandoned for several years. If not, its revenue generation potential is as high as that of crude oil. I once saw (a book) the compilation of solid minerals deposits in Nigeria, state by state, it was just too many.

cr7lomo:
[s]This fulani herdsmen, u and ur gwongworo Oga at the top that is more clueless than the word clueless shouldn't have any business in politics , u guys ruined Nigeria due to the illiteracy that has been bestowed on you cattle worshipers... We have no business co habiting , u guys should merge with niger republic and that's whr u guys belong . U guys dont contribute to anything good in this country , only stealing oil thru past government and bombing yourselves.... Bunch of illiterates [/s]

ZeroTolerance:
Why not export your malnourished long distance trekking cows for forex? You guys are simply oil parasites, accept it. Your fulani states depend on oil 100% for revenue, your civil servants depend on the same oil 100% for their salaries. It's a shame.

sweatlana:
Lol! I'M NOT IGBO! NOT EVEN CLOSE

ARIZONA123:
. Aboki shine my shoe

ZeroTolerance:
That is what you parasites keep saying to keep yourself happy, we all know the truth. You were sommersaulting few momements ago because of the same oil.

Jackrich:
That is the reality on ground - Last time I checked I didn't see my kinsmen jumping on lorries to become night guard in private houses, fetching water and pushing trucks for a living.

Once again, no educated mind should be happy that we are exporting oil only to import the finished product at an exorbitant price .
Think my friend , oil will soon become useless .

sweatlana:
[s]I don't blame you sha. U are a cattle rearer who managed to get some level of education however u still think like a cow.
You and your people are hoping the USA will rescue the nigerian economy yet u will still shout down with the USA.
What a bunch of idiots[/s]

knowledgeable:
[s]shut the f**k up, you fulani parasites are jumping up cos of the dammed news for real,all because, the government in power (sunni dominat) attacked shiites Muslims, and Iran and other shiites raised hell and threatened Nigeria, and Iran then approached India for a lower supply price of their oil(India being Currently #1 buyer of Nigerian "our oil"......now the US is coming to the rescue....so yu go figure. By the way, "our oil contributes close to 40% of the country's budget financing and close to 98% of the country's foreign exchange earnings.[/s]

omooba969:
You have only contradicted yourself and shot yourself in the foot . I stated that the northerners are the most impoverished & in your bid to counter my argument, you mentioned that the north has the highest number of impoverished people due to the size of their population .

Guy, you have only helped me confirm the validity of my argument. You have only reiterated my argument in another way.

You simply do not have the skills to present a sound argument & that speaks volume of the bedrock of your education. I don't mean to belittle you but 'm sorry to state that you are not well equipped to engage me as far as this issue is concerned.

Northern elites form the wealthiest band of citizens in the country... & so what? How does that translate to commonwealth of all? And how did majority of the northern elites amass their wealth? Don't even go there because our SE brothers will maul you seriously .

Guy, please try again cos you don't know how to argue.

Peace.

Jackrich:
Keep deluding yourself - Has being at the top of the political ladder changed the fact that your ilk are the most backward in this country?
Delusion of grandeur is indeed a disease.

sweatlana:
Strategic intrest?
That's vague. Be more specific
What's in it for the USA

Apc bloody e-rat

Jackrich:
Typical Northern mentality.
When are you guys going pull your head of out the ass of the West and let West African countries choose whom to do business with yet in one breath you all shout "death to America" bunch of normadic asslickers.

shala01:
read and understand! U S is still considering buying. In other words, u s don't need our crude, Nigeria is begging and u s is still trying to what she will. get

sweatlana:
So the USA has suddenly become our fairy godmother to come and rescue us abi?
What's in it for them?
Why would the US buy crude when the are even planning to sell crude to Nigeria?
I smell lies!
You call GEJ clueless, let's wait and see the idiotic blunders pmb will make. He has started already.

omenka:
See hatred oozing from all the holes in your head like sewage out of a broken septic tank.

May God help you.

@post: I'm just fed up with oil, I wish we weren't even planning on exporting a drop of it- that is the only way we can get to where we desire to be economically.

modath:
I have major Mixed feelings about this , relaxed that it will buy us a little wriggle room to fund some developmental projects & diversification.. feeling of reservation & hoping it won't lull us into believing all is now well& a false sense of uhuru....

ZeroTolerance:
The Fulani parasite will never be fed up with oil.

ZeroTolerance:
See how the Fulani parasite is jumping up and down because of oil.
SMH

anigbajumo:
Truth must be told,am highly disappointed in PMB on dis.......

kurupt1:
Everybody trying to paint nnamdi kanu black cos of tribal hate.......meanwhile the man has been saying the truth the Op above edited some comments from him and mixed it with some formulated lies and posted for the gullible to feast on.

fulanimafia:
“Post the President’s visit, there has been an overture from them to say they want to buy limited quantity of Nigerian oil to support the market. We are still ongoing on that,” he said.

Minister of State for Petroleum Dr. Emmanuel Ibe Kachukwu has raised Nigerians’ hope about the dwindling oil revenue, with the news that the United States will now buy some crude from Nigeria.

“Post the President’s visit, there has been an overture from them to say they want to buy limited quantity of Nigerian oil to support the market. We are still ongoing on that,” he said.

Kachikwu allayed fears over the return of the U.S. to oil export, stressing that the country’s sale of oil does not foreclose its tendency to buy crude at the same time.

According to him, the volume of oil that the US intends to do is little and it is for her internal consumption.

Kachikwu, who spoke with reporters at the Kaduna airport after his inspection of the Kaduna Refinery and Petrochemical Company (KRPC) in Kaduna State, said the U.S. is still importing oil to build up her reserves.

He said: “The fact of U.S. being back into the sales market obviously what you find is that the volume of export U.S. intends to do is very minimal for a lot of internal consumption.

“And strategically they are still reaching out to buy certain barrels and, in fact, they are hoping to buy a couple of Nigerian barrels. So the strategic reserve is key for them to make a very strong strategic reserve. They have also produced more than they have never done in their history now .

“From the financial point of view they sometimes sell and still buy, and they do that with gold, they do that with cotton, they do it with a lot of commodities. The whole idea is that if oil prices are cheaper, they buy, and use that to fill their reserves.”

According to Kachikwu, the United States has never completely exited the importation of Nigeria’s crude since three major oil companies – Cheveron, Exxonmobil and one other – still take their 40% share to their refineries.

What the United States stopped was her importation of the Nigerian National Petroleum Corporation (NNPC) share of the crude, the minister said.

Kachikwu, who is also the Group Managing Director (GMD) of the NNPC said the two countries were discussing the purchase of the corporation’s share of Nigeria’s crude.

He said: “Three of the oil companies are U.S. At least I can say Exxonmobil , I can say Cheveron, but you realise that 40% of their production goes into the U.S., so when you hear zero importation of Nigerian oil it is not really stopped . It is not true because they take their shares to their refineries.

“What we are talking about is the NNPC portion of the crude which is 60% and that is the element we are talking about – whether or not they will continue to buy.”

Analysing the nature of the Nigeria/US oil market relations, the minister said: “ You also know that they are diversifying to the Shale in terms of the sale of products. Now you take 900,000 from a million barrels, out of that 455 is local intervention. So what you are talking of is about 450, 000 barrels. It is not enough in terms of the NNPC portion.”

Asked what the Ministry of Petroleum Resources was doing to ensure that the Department of Petroleum Resources (DPR) is better equipped to monitor oil production in view of the impression that the DPR has no knowledge of the volume of oil that the International Oil Companies (IOCs) produce at the well head, the minister said it was false.

He insisted that the DPR could ascertain the level of production, stressing that it was the inspection that brought about the volume of production that the Federal Government used for its budget.

Kachikwu said: “That is not true. I think the DPR knows the quantity of oil we produce. We do know the volume of oil we produce and that is the number we use for budgeting. I can tell you, for example, we are doing 1.89million barrels per day. I can tell you we are targeting 2.2million barrels per day next year. There are measurement indexes for that.”

The minister said it takes an average of three to five years to build a new refinery at $2billion to $2.5billion which is too huge for government to afford.

“ It takes investment of $2billion and $2.5billion and those are not monies that we can afford,” he said, adding: “What we are encouraging people to do is to unbundle refineries that are all over the world, which are for economic reasons being de-assembled and bring them here and set them up and run them”.

This, said Kachikwu, would prune the cost of refineries for investors, especially when they are sharing the same premises, the same power source, because power is a key element of that cost.

He maintained that adoption of this method of construction of a fairly used refinery could be take about 18 months to build and reduce the cost to below one billion dollar and bring about quicker return on investment.

Labee:
How did he disarm him with logic? Like someone rightfully pointed out earlier, we love to compare apples to oranges alot as Nigerians. We are talking about an aggitation by over 5 southeastern states in addition to some south south states , and he is mentioning one USA
state. Besides what are the reasons Texans have for seceeding from the USA? Are they marginalized like the Ibos. The last time I heard, Texas is one of the largest economies in the USA. If you have ever been to Texas, you will understand that nobody will ever understand why they will agitate for an independent state. Nobody will ever simpathyze with them. If you check well you will realize that majority of the so called 100,000 signatures have ties to the KKK racist movement. However come to the Southeast, and you will understand why the people are clamoring for an independent nation

genxris:
Here is proof Thomas


http://www.budgetoffice.gov.ng/pdfs/2016/2016AppropriationBill.pdf

fulanimafia:
I challenge anyone to provide the budget breakdown which showed the allocation to the Presidency. N1.7 billion indeed .

likila:
buhari can eat better than jonathan naw,
who is jonathan to eat 1 billion naira food?
that fishermanpickin never chop belleful before.
but buhari,the future amir of lagos and enugu,
he need the food,
you no see as him dey like somalia people wey never see food for wan month?

johnmartus:
Notting will happen and I can also asure you that after february you and your traditional ruler will convey to aso rock welcome another new president in the Persion of general buahri A.P.C change

scotred19:
[s]Look at all this cowards rejoicing over a fake news. Bloody slaves.
Are this DSS that dull that they can't see that they are playing on Nnamdi kanu's script?? C'mon., we all know how porous our borders are. You can come in and out anytime, any day without the security force knowing. Even if the manage to know, it will take them years to know your whereabouts if you really wanna hide. DSS are no CIA. Even as tight and well organized as USA is, 9ja boys still they manage to stay without green card. Na to hide for inside naija pass person like kanu who's a bit rich and influential. #lol



Nnamdi kanu wanted them to arrest him all along and they all fall for it. You and I know that if they didn't arrest kanu, this biafra of a thing wouldn't have escalate to this extend. To me, nnamdi kanu plays his part very well. He have rekindled the once lost zeal for biafra. He is done, any favour that he receive from now upwards is a bonus. Kill nnamdi kanu today, many nnamdi's kanu's will still emerge in a couple of years. Who ever that is directing the DSS in this kanu's case is an amateur. Kanu was looking for attention and the FG gave him one. Why not ignore him and let him die down like GEJ did

And this story of catching him with a female lady is another BS. If the DSS actually did catch him with a female lady, why is she not in court with him as an accomplish, is she a ghost?? No picture?? Why is her name not mentioned ever since?? DSS being what they are won't wait a second to put her picture all over the web. DSS would have constantly bring that up in every interview to reduce the number of kanu's sympathizers.

The DSS should stop this cheap, poor, ill made-up story.[/s]

FisifunKododada:
Chinedu Uzoma, you are disgracing your father. Shut up. Pick up a book. Read and get some knowledge, biko.