₦airaland Forum

Obiagelli:
Interesting if true but her principal failed to pass the bill into law.

PIB pre-dates her appointment as Petroleum Minister..

Foods are ready.

Okokobioko!!!!

Obiagelli:
Pity it took me so long.

So you follow give Barcanista "Protection"!!!!

Wonderful shall never ending!!!!

Billyonaire:
I thought the father is a pastor. The girl looks pretty much like a Picadilly Ashawo

Compound Fool.

Sore losers on rampage.

The writer should gather all available evidence and head for the tribunals which will uphold the rule of law. The "incoming incumbent" APC led Administration will ensure the sanctity and independence of the judiciary.

jpphilips:

Why you dey shine ya "teeths"??

Obiagelli:
God bless you and i believe royalties goes to the FIRS?

I think so, according to the CBN website, Petroleum Profit Tax goes to FIRS.

Sources of External Reserves in Nigeria
Nigeria’s external reserves derive mainly from
the proceeds of crude oil production and
sales. Nigeria produces approximately
2,000,000 barrels per day of crude oil in
joint venture with some international oil
companies, notably Shell, Mobil and Chevron.
Out of this, Nigeria sells a predetermined
proportion directly, while the joint venture
partners sell the rest. The joint venture
partners pay Petroleum Profit Tax to the
Federal Government through the Federal
Board of Inland Revenue.

The five categories of revenue from crude oil
production and sales are:

Direct Sales (NNPC)

Petroleum Profit Tax (Oil Companies)

Royalties

Penalty for Gas Flaring

Rentals Other sources of external reserves in
Nigeria

http://www.cenbank.org/Intops/ReserveMgmt.asp

Firefire:
Honestly speaking, if Nigeria cut the cost of governance, reduce fraudulent businesses, cut the cost of all political office holder, then we can have more money to fund our developmental projects and not feeding the children at another bogus cost as postulated in APC campaign promises.

Increasing of Taxes in Nigeria is inevitable but should not be the first option in generating more revenue, all loopholes should be blocked first.

There's nothing wrong in feeding Children who attend Public schools. The benefits of the program outweighs the cost in my opinion.

Billyonaire:
You call Buhari supporters intelligent, yet Buhari;
1. Does not have GCE O level
2. Calls Osinbajo; Osunbade
3. INEC he says Independent Nigerian Electoral Commission
4. APC he calls them All Progressive Confidence
5. Buhari said he will stabilize price of crude oil

I checked the dictionary if the definition of intelligence has changed, and it hasnt. I guess you Buhari Technicians are in for one hell of a ride.

We are waiting.....Tick tock,Tick tock,Tick tock,Tick tock,Tick tock,Tick tock,Tick tock! May 29th, Loading.....

Buhari promised to give Nigerians his all....I guess he means the 150 cows.

Senseless as expected from a TANoid..

Obiagelli:
Except i don't know i to interpret your figures, all i see here is 40%

Sure.

From his post, NNPC (Which represents the interest of the FG) takes 60% while the IOCs share 40%. This 60-40 sharing is done after deduction of Royalty, PPT and Cost Oil.

Obiagelli:
I guess i am still in line with my projections

From a fields Production, the State takes:

1. Royalty

2. Petroleum Profit Tax

3. It's share of the profit oil

The IOCs take

1. Cost oil (to defray expenses incurred during Field Development)

2. Their share of the profit oil.

[img]http://www.ccop.or.th/epf/cambodia/images/cam01.gif[/img]

Obiagelli:
Nigeria still gets the higher percentage?

Definitely. Between 45-60% usually. While the other 2-4 Partners share 40-55% depending on the terms of the PSC.

Obiagelli:
Please can you shed more light on this, do you mean that the Fg gets 95% while the oil companies get 5%. I generously gave the oil companies 40 % in my analysis

I think it's like this +-:

Whatever amount of oil is produced, a percentage is deducted by the IOC (Cost oil), then the PPT and Royalty is paid to the state (a percentage of the production). The balance is what's shared between the National Oil Company and the IOCs according to the terms of the PSC.

EgusiSoup:
I chased Berem out of this forum and you might be my next target Obiagelli. So the oil produced from the creeks is what you want to use yet you are foolishly following people who say they are born to rule you.

I feel for the Igbo race!

Who is this nematode??

The oil belongs to Nigeria.

Nustra:
Thanks for your remarks about my education.
I do not have the habit of speaking maliciously about people even on the internet .... So,i will not.

Actually, the PIB was submitted to the National Assembly in the summer of 2012.
a simple google search would have helped you avoid such a simple error.
I admit they have been clamoring of PIB-related talks on over-hauling the NNPC for some time now. but no one had the galls to do something about it until Diezani came along.

You can insult me all you want,
all I ask is you keep an open mind and look at the big picture.

Also, it's easy to call someone a thief. but you don't have a scintilla of her academic qualifications (nor anyone you know for that matter).

if you have friends or relatives that work in NNPC, ask them how improved that place is now as an organization....
I actually served in one NNPC facility, and in those days, top managers only come to work 2-3 days in a week. nothing was being done as regards technical lines.
now, it's very different. the system has improved and much more efficient under Diezani.
it's no longer business as usual.
IOC are now required to account for every penny spent on capital projects.
and the agreements (PSCs & JVs) signed previously on deepwater acreages that literally robs Nigeria is being revised to benefit the nation.

Things like these are what intellectual Nigerians should be looking at ... not hear-says.

Lukeman, Obaseki..... all those guys did nothing to improve the lot of the company that brings the bucks to the nations' coffers...
there was fuel scarcity every other month under their control.
well..... in all truth, Obaseki did better (IMO) than Lukeman

You are an irredeemable dunce.

Gbawe:
You are clearly ignorant, clannish and probably an ethic jingoist unable to ever give credit to others where due. The origin of the PIB has nothing, nada, to do with Allison-Madueke and predates her appointment as a member of GEJ's cabinet. Note the PIB was originally introduced in 2008 well before Allion-Madueke became Petroleum Minister. Rilwanu Lukman, from the Northern region your ilk love to hate and discredit, is one of the main brains behind the PIB while Allison-Madueke was still looking for relevance.

You guys should really try and let go of the sentiments and prejudice that leads you to claim all that is good and developmental about Nigeria is from your household in your Village, and entirely about your kinsmen, while you totally and shamelessly ignore the historic input of others from the North and SW. I don't see a bright future for you guys when you remain about sentiments , to the point of engaging in dishonest revisionism, in place of seeing what matters.

http://www.hoganlovellsafrica.com/_uploads/Publications/Africa_September_2012_newsletter_-_Nigerian_Petroleum_Industry_Bill.pdf

It's very frustrating talking to these clannish dolts sometimes. The guy claims to work in the Oil and gas industry but has been displaying nothing but crass ignorance on this thread.

@Nustra

Can you give a historical background into the PIB?

Recently, I presented an overview of the current
reforms in the Nigerian oil and gas sector which started 14 years ago, specifically on April 24th 2000 with the inauguration of OGIC by the administration of former President Olusegun Obasanjo. That OGIC committee submitted the Draft National Oil & Gas Policy in 2004. The Draft National Oil and Gas policy was approved by the administration of the Late President Yar
Adua, who also re-inaugurated the OGIC on
September 2007. The OGIC submitted their
report and it was approved in 2008, leading to the forwarding by the Yar Adua administration, the 2009 Petroleum industry Bill (PIB).

http://m.nationalmirroronline.net/article/pib--nigeria-cannot-afford-the-luxury-of-further-delay--onuegbu/?category-id=2&page=12&article-id=22671

Nustra:
I actually have a university degree in engineering and have worked for years in the oil industry so I know a little more than nothing.
however, I appreciate that you have changed from saying OBJ formed the PIB to "was the basis of the PIB"
but I have to tell you that the PIB is ... and only.. Diezani's work.
it builds on other things for sure,
but it originated from her
and it's the reason she is under the crosshairs....
and ppl like you are coaxed into criticizing something you know nothing about without knowing who pulls the strings.

Look at the story of Aondoakaa and tell me if its different from what Diezani is going through.

1. My friend if truly you have a degree in Engineering, then you're a disgrace to your institution and your profession.

2. Diezani was appointed in 2010 as Petroleum Minister.

3. PIB was first presented to the Senate in 2009.

4. Between Dec 2008 and March 2010, Rilwanu Lukman was Petroleum Minister.

5. Kindly explain how PIB is Diezani's brainchild when she was nowhere near the Petroleum Ministry at the time.

Once again you dishonor your profession and the institution that gave you a degree in Engineering. You are no better than the woman selling pepper at Ozuoba market whose only source of info is hearsay.

Worship the frog-eyed thief as much as you want, but stop re-writing history and twisting facts in the process.

Check the following links to cure ur acute ignorance if you so wish.


http://www.neiti.org.ng/index.php?q=publications/neiti-and-petroleum-industry-bill


http://www.vanguardngr.com/2009/08/the-proposed-petroleum-industry-bill-pib-some-matters-arising/


http://leadership.ng/business/384888/petroleum-industry-bill-issues-delaying-passage-1


http://en.m.wikipedia.org/wiki/Rilwanu_Lukman

http://en.m.wikipedia.org/wiki/Diezani_Allison-Madueke

No source...

No picture....

No video...

TANoids sha..

This defeat really discombobulated your brains.

Nustra:
Thanks for calling me a slowpoke,
but, OBJ did not do anything about PIB. he worked on marginal fields for indigenous companies as well as legalizing bunkering to enable Nigerian companies move crude without the initial cost of laying flowlines.
the PIB is a product of Diezani.
check your sources once more

You know nothing about the PIB so STFU and stop advertising your ignorance. The recommendations of the OGIC - Oil and Gas Implementation Committee set up by OBJ forms the basis of the PIB.

That's why GMB is the boss. If you'll have an appointment in his Govt then be ready to declare your assets.

Saraki is a Senator not a political appointee that's his saving grace.

Springz:
last minute work just to answer name that he did something, anyway it won't change the fact that Delta state is in ruins because of him.

Exactly..

And some fools are praising him like he did something. After 8 years and a budget that runs into trillions.

Smh

TISHAmatt:
Pls, be careful what u say about the Governor of other states. You focus on your on pls. Meanwhile, I want to believe tha yo are not from Nigeria. If at all, you must have been living in the desert of darkness.

See this frog!!!

I'm from Delta State and have a right to speak about the basin headed nematode you call a Governor. That Thief Ibori was a better Governor than the fool is a fact even lizards in Delta State know.

Now swerve...

This is what should've happened to Ibos in Lagos if not for the tolerance and accommodating disposition of Yorubas. Why not announce to the world that S.A is no man's land??


Cry babies...

barcanista:
When a man perform in a given project, tell him "Well Done". That is called appreciation, and it motivates him to do more. Be civil

Nonsense..

Uduaghan is a very useless Maggot. He's in the same class with swines like T. A. Orji and Gabriel Suswam. Ask ten Deltans who they prefer between Ibori and Uduaghan and at least 11 with say Ibori .

Uduaghan is and remains a Basin-headed idiotic toad who realised late in his second term that he is a governor after a big spiritual Stone struck his extra large head.

The senseless and useless governor will be remembered as a tadpole who made Ibori look like Angel Michael.

dearpreye:
Thought you had something really sensible to say! People aren't sent to jail on hearsay or emotions or morals.

Jail sentences are ONLY given by a competent after a thorough and time consuming prosecution.

Why is she running helter skelter, seeking asylum and trying to get a soft landing courtesy Abdusalami Abubakar??

Hope you don't come here weeping like a baby when the party starts..

Story for the dogs....

We saw your issue based campaign during the last elections which incidentally marked the beginning of the killer party's end.