Jpphilips's Posts
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bayelsaowei:The federal Government will get their usual 60% in a negotiated joint venture, is it not the true federalism you guys are harping on? The good thing about Nigeria's FG joint venture agreement is that if you give FG 60% of the proceeds, FG will give you 60% of your investment cost, where they are unable to pay you with cash, they pay in kind by allowing you to take their cut till you recover your investment, the news we just read said Alison madueke asked for authority to pay the 49% investment fund in the Brass LNG that is a proof. How much is Texas oil producing companies paying to the government can you guess? Our idea of true federalism is taking over FG investment without paying a kobo, isn't that stealing? That is the reason N.sudan is bombing S. sudan till tomorrow, you can not take over someone's investment without paying for it. Hugo Chavez tried it in Venezuela and his economy paid dearly for it, S.Sudan tried it and they have officially been declared refugees. If you declare the republic of Niger delta, the FG will ask you to pay for their oil assets if you wish to take it, just like NPDC paid shell to take over their divested equity in the Niger delta, shell sold a part of their asset as high as $600m, yet they are crying the asset was undervalued by the Nigerian government, extrapolate what 100% ownership will cost. Every month, FG & states share money, FG will invest theirs to ensure economic sustainability, states will squander theirs, in a short while disgruntled !diots will start bombing FG investments as if it fell from heaven. Dangote an individual is building the biggest refinery in Africa with 2 lucrative oil blocks as feedstock, is it beyond Ekiti, Osun and Ogun states? Is the Fg bothering him? Amaechi sold a power plant that belongs to rivers state the other day, meanwhile he could not complete a mono rail project, his predecessor Peter Odili built a power plant in Transamadi, to the states it's all about sell and squander. Emeka Anyaoku is building a refinery in Anambra state with 3 oil blocks to feedstock it, is the FG bothering him? make the investment, pay royalty to the FG that is resource control, Niger delta's idea of resource control is, seize FG investments then pay royalty to FG, isn't that madness? Every Niger deltan has every right to acquire oil acreages and develop it, Lulu brings a Niger delta son has producing oil acreages in the delta, is the FG bothering him? he is producing and paying his royalties, same with FHM. Only an !diot will call FG's investment resource control, thieves, tomorrow you ask Obijackson to dash you Gobowen because you want resource control, where were you when he paid $400m to acquire an oil block in part, thieves!! |
Ugosample:The problem with you is that you have no clue how the economy of the country works, the disparity between the official rate and the BM is necessary because raw materials for production and equipments have access to cheaper forex, the only thing the CBN needed was purchasing directly than giving it to the companies to avoid round tripping. That policy would have spurred the manufacturing sector to growth over time. |
stephenduru:You steal money, once you are caught, you whip up either religious or ethnic sentiments to distract us from the reason you were detained. Mr Kayode, stop running to the masses when the chips are down we are not buying any nonsense from any of you, you are the political class we are not, you have never remembered us while stealing why are you disturbing us? You think we don't know about Muslim and Hausa Fulani while you were stealing? we are not interested!! carry your cross as the your lord Jesus did. |
mekzyjoe:If Wike continued where Amaechi stopped, the monorail would have been completed by now. Ask yourself what will be the fate of this Project if Buhari was Wike? |
Till you make the exploratory investment, oil in the ground remains a liability. |
Buhari insisted that devaluation will never solve the problem, CBN claimed that floating will attract investors back in the market, the result is a devalued currency, double digit inflation and no investor, the same fx we needed to peg the naira is what we need to intervene in the floating regimen, Buhari was right afterall. |
We can see clearly how much it costs to make Gas flow in the Niger delta, tomorrow dumb people will think it is theirs for the taking by bombing everywhere. At the time in question, the Federal Government paid $7b to own 49% stake in the brass NLNG project, why cant Bayelsa state with over 25b Federal allocation at the time pay it up with an Annual savings and Own it? Why must Bayelsa wait for the Federal Government to make the investment, Pay them 13% after which Bayelsa miscreants will bomb it away, I need answers!! |
zuchyblink:Another bloody drop out warming up to be schooled, I will pass |
That picture is a right of way devastated by oil spill caused by either Bunkery or Bombing (blast radius). The Niger deltans are the Nigerian oil custodians until they start making investments, their claims are baseless. You can not claim to lay the golden eggs when you can not raise the duck, it is not done in any part of the world. If the Forcados export line was owned by a Niger deltan, will it be bombed? They dont care about our investments, they don't care about their environment and potential economic sources, what else is terrorism? |
LORDOFAFONJAS:Pastor's lyrics till they suck your last blood, enjoy!! |
tivta:Seek academic help to trim the rough edges of your enlightenment, seek mental help to retain what you may likely learn, a simple google search would have saved you this embarrassment. How much was it costing us to balance our trade 10yrs ago compared to now as a reflection of our population growth can you guess? |
illuminated93:where are the new designs? if they are absent, what is the relevance of the Nigerian Engineer? B.eng and HNDs are theoretical technicians from a Nigerian labor market point of view. |
BlackSeptember: Her lawyer is just ripping her off |
braden25:When you make huge mistakes like that, sane people don't really take the rest of what you say quite seriously, trust me on that. |
stolenstone:You can not save in a recessive economy rather you utilize your savings at times like this. |
Domislaz:Explain the derivation principle? how is it calculated? most of this madness in the media just has to stop, if you have no idea, hide in your cave, must feeble minds suffer because you don't know anything and you can't keep your dirty trap shut? When you read a news article and you have no clue what it says, shut up or ask questions, even r@tarded persons do ask questions let alone you, next you will see another bingo open a threat harping this same nonsense you are spewing here. Shut up if you don't know so you don't misinform others or ask questions. |
Simon Kolawole: Buhari Didn’t Inherit A Healthy Economy From Jonathan. Let’s Get That StraightSome lies are no longer fit for purpose!! This is 2016 and the symptoms persist. In fact, our economy has been on a downward spiral since late 2014 when oil prices started plunging. It became more pronounced in 2015, and it appears we are now breaking records as we wake up everyday. Are The Pioneers singing in the background? The naira is officially at its worst since it replaced the pound as national currency in 1973; oil production has plunged from 2.2mbpd to probably its lowest in 10 years; FX reserves are going south; inflation has gone wild; and we are just awaiting figures from the National Bureau of Statistics (NBS) to confirm that we’re officially in a recession — first since 1987.In an Oil dependent economy, any threat to oil is a threat to the economy, were you born yesterday? Under President Olusegun Obasanjo, the highest price oil sold for was $60, and production was less than 2mbpd for the most part. He parted with $12 billion to settle foreign debts, and still left FX reserves of $43 billion, out of which $9 billion was excess crude savings. Under President Umaru Musa Yar’Adua, oil went up and down, hitting $147 per barrel at some point, and sinking to $31 at its lowest. With that, Yar’Adua raised FX reserves to $62 billion by September 2008 — the highest in our history.You claimed in the first paragraph that we hit 2mbopd in 1972, then claim we produced less under Obasanjo in 1999-2007. Meanwhile in 1972, Nigeria had very few active oil fields compared to 1999-2007, aren't you speaking from the two cracked compases of your mouth? This is where the Jonathan team loses the argument. Oil sold for between $70 and $120 during his first four years in power (2010-2014) before the downward slide to $50 in 2015, when he left office. If our reserve management was anything like what we had under Obasanjo and Yar’Adua (when, by the way, Professor Chukwuma Soludo was the CBN governor), Jonathan could have left at least $100 billion in the reserves. If Buhari had inherited such a hefty kitty, the naira would not be gasping for breath today. Clearly, our failure to build an FX war chest in the time of plenty exposed us to the infectious diseases we are battling with today.I don't expect you to be intelligent, if Jonathan had saved $100b (which is possible), from August 2014 till date, we would have exhausted the said amount by now do you know why? Because we are import dependent and the CBN "MUST" balance our trade monthly, that explains why Soludo had to devalue the naira to 155 to accommodate trade balance despite Obasanjo's savings. Jonathan did not save he messed up but Nigerians have punished him enough, it is time for us to suffer the consequence of his inaction and forestall future occurrence. One of the ways is for APC to dust themselves up and stop giving expired excuses, I really don't expect them to do much because realistically speaking, there is nothing to do, however, while waiting it out, they should stop insulting our sensibilities with expired excuses. This particular excuse has been overtaken by events. My third point. Though Buhari did not inherit a wonderful economy, his ideological hangovers prevented him from acting on time to stem the tide. It’s like cancer. If you leave cancer stage one untreated, it gets bigger, and moves to stage two. Untreated, it gets worse and moves to stage three. And, finally, it gets to stage four where it has spread to other organs. The economy was probably at stage two when Buhari took over, but he felt chemotherapy would be too painful for the masses that elected him into office. Now the cancer is spreading and killing jobs and shredding the naira and shrinking the economy. That is the consequence of delayed adjustment.Your level of understanding is abysmal, economic approach are done to accommodate shocks, you can not have a spiral inflation as occasioned by fx shortages, two digit inflation, dysfunctional money market, deposit loss, then you devalue the naira and remove subsidies at the same time? How will you recover from that shock? Buhari knew the end of the road, he knew we are only delaying the inevitable but things must be done right, during fx shortages, people will panic buy fx and nobody will have access to it anymore, that will mean no more imports for essential commodities which will translate to hunger and barbarism, a deposit loss will amount to panic withdrawals and one morning, you will hear the collapse of all Nigerian banks, people will panic buy petroleum products, stock up in their homes, cause fire outbreaks then finally no petrol anywhere for both Generators and cars, trekking and darkness will ensue. Economy is a chain, once you break the stabilizing link, you will get chaos. Most of you Journalists are bunch of nuisance who have no idea how the real world works, Buhari is not stup!d!! Obama would have done what he did faced with the same challenge. Simon Kolawole is a writer and journalist and Founder/CEO of The CableSimon Kolawole is an unlettered Journalist roaming the media spectrum. |
Arsewipemod: ![]() They Blow up everything then expect development, crack heads!! ![]() |
Domislaz:You are telling me some state is higher than another when you have no clue what they produce, are you ok? Why will Rivers have a higher 13% than AK, If AK produce highest? I have told you guys, leave the politics section, there are other sections like celebrity where emptiness will be well appreciated. |
braden25:You believe that is a soccer pitch? take heart bro!! |
joborskill:Wait till the government run out of money to subsidize ARV drugs then come back and tell me it is no longer a big deal. get it first then lets discuss big deal later. |
Domislaz:Mention the volume then pick up a calculator. They are the highest producing but you read that Rivers 13% deriv is higher than theirs, how do you think 13% derv is calculated? most of you here are not old enough to read the dailies. |
chidozieikeji2:Shia adherents are not radicals right? Shia Adherent: Houthi Rebels Motto: "God is Great, Death to America, Death to Israel, Curse on the Jews, Victory to Islam". Shia Adherent: Hezbollah Ideology: Shia Jihadism The current Ayatollah of Iran (Ali Khamenei) does not have the power to choose his deputy you lying scum, his office and that of his deputy is chosen by the Assembly of experts. The last deputy to the supreme leader was Ayatollah Hossein Ali Montazeri who was deposed by Ali Khamenei's predecessor for condeming the brutal executions of minorities during the revolution. Since Ali Khamenei became supreme leader, he has "NEVER" had a deputy. Who do you think you are lying to? your fellow Almajiris abi? quickly go kiss a monkey!! Take your islamization nonsense to Iraq where it is highly needed. You seem not to understand that Buhari isnt the only president hunting you terrorists like rats. |
braden25:How much oil does Akwaibom produce, can you guess? you guys should stop unsolicited dumb analysis to score cheap political points. |
oganology33:You don't get it do you? the SS states have zero investment in the oil and gas industry, the FG is paying them 13% for operating on their lands and NNDC to address their LGA concerns, overall, their share with everyone else is channeled to "beering" and "peppersouping", in my opinion, it is a fair share, again, the right analogy you should use is this; the FG is paying them for doing absolutely nothing. You can not ask for too much on another person's investments, now the states have collected their share, will they invest their cut in the oil industry to raise their stakes? Hell no!! Guess what, they are waiting for the FG to invest it's cut, when oil flows, they collect 13% for doing nothing then blow up the investment when they are tired. That is pure evil if you ask me. Don't ever tell me they lay the Golden eggs because it cost a lot of money to raise the duck, Niger deltans have refused to raise the duck hence their claim to the eggs is delusional. |
Rivers the only oil producing state with active export line, why will they not lead the pack? while the Philistines are busy bombing away theirs and sinking deeper into poverty, I dey laugh!! Junk Journalism from educated illiterates, they have no Idea what the budgetary benchmark is, they have no idea what crude traded for in the month of July, spit!! |
LORDOFAFONJAS:You are happy with the cost of living now right? very soon you will no longer afford a cell phone, just watch |
chidozieikeji2:Are you really fielding political opponents or recruiting an aggrieved national assembly? To believe you are scared of Islamization of Nigeria yet you fan support for the son of an Iranian spy whose father's call to duty is to spread radical Shia Islam in Nigeria? never mind that Hezbollah, Ansa Allah, Houti rebels are all radicalized shia groups that started their movement like our El Zakzaky? today they are the hallmark of terrorism destabilizing the middle east, that is what you wish to enthrone on our national stage? are you this ignorant or you are pretending to be inherently asinine? While you are quick to introduce your political gladiators, why didn't you introduce their policies that will dust that of Buhari, like telling us where your Gladiators will source for Forex since buhari is helpless in that regard? Who ever gave Nigerians equal freedom of speech deserve to be shot!! |
mrvitalis:Do you have a problem with English language? |
tivta:What was the production loss under Obj and what is it now? |
Almajiri1:That is because they are smart enough to know that the Government is not the problem except you who saw Buhari in your dreams. |
The economy is in recession, shortages are expected, soon imported products will disappear from the retailers shelves till it gets to essential commodities then final collapse. Everyone must be aware that the challenge is not political, neither APC nor PDP has the answer except wall street, even OPEC has given up let alone Nigeria. The politicians are appealing to your sensibilities because they intend to continue chopping from excessive taxation hence the diversion. People should be encouraged to leave the country, that is the only solution, the meagre earnings of the country can no longer sustain all of us, that's the sad truth. |
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