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Politics / Re: Oil And Gas Exploration To Begin In North-East – Buhari by jaybee(f): 11:35am On Mar 15, 2016 |
Standing5: Understand the oil industry, government only facilitates the business. the oil companies spends their money and bears the risks in anticipation of huge profits if oil is found. Tax payers' money is not used for exploration. in fact government makes money whether there is oil and gas find or not, because the licenses and permits for exploration are costly (some in the range of tens to hundreds of millions of dollars) and non refundable. owners of licenses and leases have strict work program obligations to fulfill within stipulated times, or the oil blocks are revoked due to non-performance. If you are attentive, you will notice that some aides of former president GEJ are being prosecuted for spending money from the signature bonus account in the CBN, those are monies from licensing oil blocks. |
Politics / Re: Oil And Gas Exploration To Begin In North-East – Buhari by jaybee(f): 11:20am On Mar 15, 2016 |
Standing5: Your lack of understanding issues is surely legendary. Show me how oil exploration hinders agriculture Also tell me how oil and gas exploration makes Nigeria dependent on export proceeds. Notice that you said "boost forex" that means there is forex already (surely from oil and gas) which is to be given the boost. You did not say replace, but boost. Dangote is building a 165,000 bpd refinery to be commissioned in 2018. If there is no exploration how much cassava, cocoa, chicken, cashew, palm oil, yams (baring in mind yam eaters), rice, pepper, tomatoes, snails, fish, groundnuts, sesame, cucumber, etc, etc, etc, etc, would be exported to buy crude oil to refine and sell to motorists in Nigeria? How much gas will be imported to service the many gas power plants to supply electricity in Nigeria? just think a bit more and you will discover that you are just clever by half. 2 Likes |
Politics / Re: Oil And Gas Exploration To Begin In North-East – Buhari by jaybee(f): 10:09am On Mar 15, 2016 |
Standing5: Pathetic. Pathetic indeed. Most comments on this thread make a f00l of Nigerian youths. Just think of it. What is 'diversification'? what does of mean in the context of Nigeria's economy? Does it meat jettisoning what you have (in this case oil and gas), while embracing what you don't have (like the proverbial, and improperly defined, agriculture; mining, etc) ? To understand 'diversification', all you need is to define it. Any dictionary should provide such definition. Diversification is simply the act of introducing a variety (in our case, in investments, and production of goods and services); instead of investing mainly in the oil and gas. it does not connote zero investment in oil and gas and 100% investment in other sectors. Remember that Nigeria already has huge investments in oil and gas to leverage on. After all have you ever heard that a bird at hand is worth two in the air? The concern on timing for investment in oil and gas exploration in Nigeria now is highly misplaced and shows ineptitude of the highest order, if not outright mischief. Just think of it, the crude oil being produced Nigeria today (which was sold as high as $146 in the recent past), at what price was crude oil when the exploration was done? The exploration was undertaken in the 80s and early 90s (oil exploration and production is a long gestation investment) when crude oil was at its lowest around $9 - $14. This is a good time to invest when the price is low and the cost of exploration is also low. When the price rises, the cost of exploration will be high and making the investment decision will become more difficult. it makes economic sense. Finally is the money for this so-called frontier exploration in the budget? this i strongly doubt. If it is there, someone should please show, not tell me. Which means as usual, government only facilitates these activities, and does not really put in tax payers' money directly into it. Mostly, the investors put in their heard-earned hard currency and takes all the risks in anticipation of commercial hydrocarbon discoveries that would permit them to recover their money in a long time in the future. 3 Likes 1 Share |
Business / Re: Entrepreneurship In Nigeria Is A Scam And A Multiplier Of Poverty by jaybee(f): 12:47pm On Mar 14, 2016 |
Interesting and instructive! emphases mine. oneolajire: |
Crime / Re: Eye Pluckers In Kaduna Attempt Plucking Woman's Eye While She Was Asleep At Home by jaybee(f): 8:26am On Mar 13, 2016 |
Djmamman: they are all innocent unless they are convicted in a competent court of law! May God grant quick healing to the victims; Naija for show! |
Politics / Re: We’ve Not Unbundled NNPC- Kachikwu by jaybee(f): 10:26pm On Mar 09, 2016 |
Genius100: PATHETIC! "MUCH ADO ABOUT NOTHING" 1 Like |
Car Talk / Re: A Car Constructed With Wood With Motorcycle Engine In Bida by jaybee(f): 9:45am On Mar 04, 2016 |
whirlwind7: Agreed. Nice, but poor photography! |
Politics / Re: 76 Hungry Boko Haram Members Surrender To Nigerian Military by jaybee(f): 4:51pm On Mar 02, 2016 |
alaskido: wailer spotted! |
Politics / Re: 76 Hungry Boko Haram Members Surrender To Nigerian Military by jaybee(f): 4:48pm On Mar 02, 2016 |
Ovamboland: Your reasoning stands logic on its head! |
Politics / Re: 76 Hungry Boko Haram Members Surrender To Nigerian Military by jaybee(f): 4:42pm On Mar 02, 2016 |
tsephanyah: By their posts, wailers are spotted! |
Travel / Re: [PHOTOS]The Amazing Kajuru Castle Of Kaduna by jaybee(f): 10:52am On Mar 02, 2016 |
akaahs: False story. The German, Gerhard Huebner (popularly known in Kajuru as Captain) had serious disagreements with government during IBBs military regime over the ownership of DANA (Dornier Aviation Nigeria AIEP Limited) the makers of Nigeria's Air Beetle in conjunction with the Nigeria Airforce. I should think the DANA case is still in the courts. With the departure of the guy in 1993, the Nigeria Air Beetle project became comatose till date. |
Travel / Re: [PHOTOS]The Amazing Kajuru Castle Of Kaduna by jaybee(f): 9:56am On Mar 02, 2016 |
1 Like |
Politics / Re: N3.6tr Rail Contract Bypasses FEC Approval by jaybee(f): 10:30am On Mar 01, 2016 |
Adminisher: Let us be realistic. Is there any mobilization, let alone execution? |
Health / Re: In Kaduna, Lassa Fever Kills Nurse, Pregnant Woman by jaybee(f): 9:46am On Mar 01, 2016 |
OlajumokeBread: People beware of this mutating irritant. it is a candidate to test the availability of moderators in this forum.
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Health / Re: In Kaduna, Lassa Fever Kills Nurse, Pregnant Woman by jaybee(f): 9:38am On Mar 01, 2016 |
OlajumokeBread: I'm from Kaduna, in the vicinity of this tragedy. I'm shocked by this comment, but not surprised. This is Nigeria. |
Politics / Re: Senate Terminates REMITA Contract And Orders Prosecution Of Culprits by jaybee(f): 5:03pm On Feb 24, 2016 |
NgeneUkwenu: DanGombe1: dustydee: papparatzzi2013: It appears We still have sensible and logical people in NL. 1 Like |
Agriculture / Re: Pig Farmers Lets Meet Here by jaybee(f): 1:33pm On Feb 24, 2016 |
eazeefix: @eazeefix Nice to know you are a pig farmer. Please how do you dispose of the dropping? |
Crime / Re: Police To Arraign DPO For Involvement In Serious Crimes Including Murder by jaybee(f): 1:19pm On Feb 24, 2016 |
Truckpusher: Truckpusher: Just go ahead and tell us why they are holding that man anyway. 1 Like |
Politics / Re: Pirates Captured By Navy After They Hijacked Oil Tanker (Photos) by jaybee(f): 11:55am On Feb 24, 2016 |
dovelike: Conventional pirates www.nairaland.com/attachments/3431500_potc4piratesofthecaribbeanonstrangertides2452617824541245_jpege372f4a0e2545db42c39d179b697f66f Funny looking pirates www.nairaland.com/attachments/3431403_nitt_jpga3fafc9f1ac9f72f626d27cf79f40873 1 Like |
Business / Re: I ‘ll Name Those Behind Forex Crisis, If … Says Ubah by jaybee(f): 11:40am On Feb 24, 2016 |
Business / Re: N200 Per Dollar Proposal: Ifeanyi Ubah Stakes N500bn Assets by jaybee(f): 11:24am On Feb 24, 2016 |
swiffy: Sister(?), you are already dancing to Uba's tune; just continue no need to invite others |
Business / Re: N200 Per Dollar Proposal: Ifeanyi Ubah Stakes N500bn Assets by jaybee(f): 11:21am On Feb 24, 2016 |
akinladejo: Thank God you are not Buhari. 2 Likes |
Politics / Re: Buhari Rejects Invitation To Join Coalition Of Islamic States . Thisday by jaybee(f): 11:14am On Feb 24, 2016 |
Compare our Don Fortunato www.nairaland.com/attachments/2144627_oic_jpeg5d41548bddec2b7b3369b3007a72488b First President To Drag Nigeria To OIC (Organization of Islamic Cooperation) Conference https://www.nairaland.com/2158839/first-president-drag-nigeria-oic |
Crime / Re: Police To Arraign DPO For Involvement In Serious Crimes Including Murder by jaybee(f): 11:01am On Feb 24, 2016 |
Truckpusher: Go ahead and tell us the whole story now! |
Career / Re: 50,000 Abuja Workers Sacked In Two Months – ACCI by jaybee(f): 2:14pm On Feb 23, 2016 |
Csami: Let the masses continue to suffer for supporting the crooks who don't even know or recognize them. 1 Like 1 Share |
Properties / Re: 10 Most Beautiful Buildings In Lagos (photos) by jaybee(f): 9:14am On Feb 23, 2016 |
olatex25: You may be right; but kindly post the photos for us to see and probably compare. |
Politics / Re: Fg Collects N8 Per Litre On Imported Pms – Pppra by jaybee(f): 8:31am On Feb 23, 2016 |
lailo:I concur! 1 Like |
Politics / Re: Was Ex-president Jonathan A Prophet When He Said This? by jaybee(f): 10:44pm On Feb 19, 2016 |
Pinkybush: Total nonsense! that's what you get when you refused to do your job, instead you try to impress those that did not seek your patronage. |
Politics / Re: FFK Rejects Ali Modu's Appointment As PDP Chairman,he Founded Boko Haram by jaybee(f): 10:38am On Feb 19, 2016 |
orisa37: PDP is a Hausa party ? ! |
Car Talk / Re: ANAMMCO: Car Producing Company In Nigeria (Pics) by jaybee(f): 4:13pm On Feb 18, 2016 |
MCMLXXVI: This is just a sensational reporting. PAN has never been closed since it started operation in 1975. No other vehicle assembly plant in Nigeria has been more successful than PAN, even though their products were made the official vehicles for government. So the issue of reactivation is not true. |
Politics / Re: Amaechi On Railway Inspection From Abuja To Kaduna (Photos) by jaybee(f): 3:52pm On Feb 18, 2016 |
osaaaaa: of course GEj could not finish it in six(6) years! Super Amechi finished in less than 9 months. |
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