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Mapet's Posts

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Politics › Re: Eight Discos Turns Down 1,337MWH From TCN Despite Erratic Supply To Consumers by mapet:
AZeD1:
sosodat: :
Gullible we are not!!


What is the work and responsibility of the Ministry of Power?....abeg make una do your jobs and stop misleading people trying to garner sympathy....it's your job to ensure Power (which includes planning, production, supply, delivery and regulation).....

Stop masking incompetence with lies and propaganda of shifting blame....own up to your responsibilities and deliver a better standard of living for your citizenry!.
Actually the power companies have been sold, so production and delivery are not in the hands of the power minister anymore, he's work is more of regulation. You should keep up to date with things happening in the country.
His work is even beyond regulation. We have NERC for that...........Meanwhile it is laughable that we have a sosodat and the likes foaming in the mouth on issues of market dynamics and interplay.

This to me is a case of market self-adjusting and developing itself. I pity those in the areas whose actions and inactions are leading to discos rejecting transmitted power. This power will be taken/allocated to a willing entity in industries who will be ready to off-take at cost+, and out of the reach of domestic consumers in that area
Politics › Re: PDP Wants Buhari To Thank Jonathan For Defeat Of Boko Haram by mapet: 11:23pm On Dec 28, 2016
WomanOfRace:
Oga,

Please nairaland is not your family house, and secondly, you don't know me from any Adams. I will suggest you don't quote me again since you think you knew a lot about Nigeria, politics, who should have a say or not; yet you are no name in Nigeria politics.

Learn to respect people opinions and how to talk.
Well, I can only rely on the substance of your postings or otherwise. I am also persuaded to believe that an attempt to join the fray of discussion on a topic should put into consideration that whatever you put on ground will be assessed and will attract rejoinders. What you call an "opinion" is something else......Simply put what you submitted makes NO SENSE, in fact it simply a negative demonstration of logic badly concocted.
Politics › Re: PDP Wants Buhari To Thank Jonathan For Defeat Of Boko Haram by mapet: 9:59am On Dec 28, 2016
WomanOfRace:
The main work in a building is the foundation ; forget about hating PDP but the truth stands and it is clear for any logical, reasonable human being to see.

The main fight was fought by Jonathan in the heat of it all. Buhari is so dumb and clueless to achieve such in a short period of time. He couldn't even help himself , talk of Nigeria.

He came during resolution of Bokoharam Sambisa. I will still give it to GEJ and the Soildiers.

The Dullard remains dumb, as far as I'm concerned. I wouldn't give him the credit he deserves not.
Madam,

The advise to stay off some topics which you cannot comprehend is synonymous will the advise to stay off drugs
Jobs/Vacancies › Re: Hundreds Of Candidates Disqualified From N-power Jobs by mapet: 9:34am On Dec 28, 2016
Pavarottii:
I tot they said 200,000 jobs. Why am I seeing 3,000 something. Abi am I misssing something here?
7
Because the OP's lopsided topic which gives a wrong impression. The topic gives an impression that it's the whole N-power scheme meanwhile the situation reported is about Niger State.....

People don't read anyways
Education › Re: 5 Most Underrated Courses In Nigerian Tertiary Institutions by mapet: 9:24am On Dec 28, 2016
shogat:
5. Zoology/Botany

Zoology and Botany are different branches of Biology and what they do is to study plants and animals. Because zoology is related with “Zoo”, other students assumes all the students studying it will end up in the Zoo.

Don't forget to share

http://www.mikegist.com/5-underrated-courses-nigerian-tertiary-institutions/
I studied Zoology for my first degree and majored in Genetics. I probably should have taken further steps in bio-genetics and will end up in a good bio-tech research organisation in the US...... but I chose IT back then
Phones › Re: We Did Not Sack Oyagbola And We Paid No Bribe - MTN. by mapet: 8:35am On Dec 28, 2016
Mustay:
Unfortunately, what makes it worse is that most readers/viewers are not analytical enough in their reading or viewings so the media outlets lap on this. If we had critical questions to ask, they would do a good job before attempting to publish.
You hit another nail of a major problem in the head. Imagine people taking a position of "to ever rumour there is an element of truth"...... or people reading a piece, yet cannot critique or ask logical questions..............
Politics › Re: Sokoto Plant To Generate Power At N178/kilowatt (more than 3x Regional Price) by mapet: 10:21pm On Dec 26, 2016
seguno2:
The thread below is at variance with your assertion above.
I hope that you can reconcile the obvious differences.
Thanks.
Bros,

I have gone on facility tour of Lagos Island IPP, led by Fashola himself. I tell you that the main Gen engines run on CNG. Look at the link you posted very well and what it tells you. The Diesel are back-up.........
Business › Re: Yuletide: How Banks Cashed In On ATM Malfunction - Daily Trust by mapet: 10:15am On Dec 26, 2016
Einl:
This is poor journalism. I work in a bank. No bank charges for over the counter withdraw with your cheque book.

No bank likes a crowd in their banking halls. It's part of a branch's score for having a crowd in it's banking hall. Each bank branch is rated for the number of customers in the queue. So the less, the better.

The reason for the ATM issue is that demand for withdraws were more than than the ATM could cope with. Then the Federal government paid on the 22nd and 23rd. Then all those government workers were trying to withdraw to buy Christmas things.

And some goats were saying that banks don't have enough money. Yes. They don't have enough PHYSICAL money to put in the ATM to meet demand. CBN hasn't printed new bank notes this year. And all the mutilated money has been moved out of circulation. So there is less physical cash in circulation. Doesn't mean banks don't have money.
1. Crap Journalism and a senseless one at that.
2.
Since early last week, some bank networks began to misbehave while some ATMs started to dry-up.
what bank network? does any bank own any network? are they interswitch or NIBS?
3.
At Oba Akran in Ikeja, Oshodi and Marina in the Lagos metropolis, there were long queues of bank customers lamenting that they had visited several ATMs since day break but could not withdraw their hard earned money.

Similarly, in Agege, Egbeda and Iyana Ipaja, depositors were seen fighting, with security men attached to the banks finding it difficult to curtail the huge crowd.

Some depositors could not withstand the stress and later left, while those that had no alternative waited for hours to get their turn and eventually access to their funds.
What is rocket science about the fact that Nigerians always do last minute cash withdrawals during festive periods and especially the ones that have extended weekend. How can you report such a perspective without acknowledging the fact that Nigerians are still cash oriented

I went to ATMS in Gbagada, Ikosi-ketu on December 25th any did not see any crowd, yet the ATM paid.

4.
A staff of one of the banks, who would not want his name mentioned because he was not authorised to speak to the press said, “the measure may have resulted from the united year end calendar for the banks that want to retain as much deposit as possible to close the month and the year on a positive note.
regular lame sources. On what basis should we believe/trust a faceless fellow?
Secondly how is customers' cash going to be declared as performance asset to the banks? The last time I checked, those are the things the FRC straightened up in the new reporting regulations, hence beefing your balances amounts to little, in fact it turns logic the other way round. Banks will rather trade out monies in businesses and projects and account for the current income of such rather than customers money that they can only charge on if only there is a transaction

5. The reporter has forgotten that it is even desirable for the bank to dispense to customers either OTC or via ATM, because there in lies income for the bank
Politics › Re: Sokoto Plant To Generate Power At N178/kilowatt (more than 3x Regional Price) by mapet: 10:00am On Dec 26, 2016
seguno2:
They copied it from Fashola's Lagos IPPs that are nothing but glorified, oversized diesel-guzzling generators.
Anyway, all na CHANGE to their personal pockets and CHAIN to their fellow citizens.
Wrong info you're putting there. Fashola's IPP are on CNG and not diesel
Politics › Re: Sokoto Plant To Generate Power At N178/kilowatt (more than 3x Regional Price) by mapet: 9:58am On Dec 26, 2016
Blue3k:
No it wouldnt. Solar power is only help in the energy mix. Second solar is more expensive and power Is intermittent. If you look at various charts solar would offer a few 7 MW h per sq mt.

Btw Niger Delta should be happy to help them. Just a reminder we're supposed to be on eachothers team. Then there is also Niger Rupblic as an option. Which they'll gladly take opportunity since we're interconnected with they're grid in multiple zones.

My main gripe with article is how this would bring state to near constant power. Ikot Abasi grid produces 100 MW and didn't bring akwa ibom to near 24 hrs. Then there's also bigger independent power plants in all over Southern Nigeria with higher capacities even during worst bombing. They don't get those sort of results.
It's relative. Power consumption may be different for two dissimilar areas.....

I am not sold on this report. There are a lot of loose ends not touched. What feasibility will build a power-plant of that magnitude and rely on diesel. I think diesel is supposed to be a back-up or an alternative. Trust me, even if the plant runs on diesel, it will probably take about 7-mega factories to situate their and buy the power even at cost+...........

So I will rather put this report in perspective as it is limited to me
Politics › Re: Camp Zero, Converge Point Of Boko Haram Which Soldiers Destroyed On 24th (Pics) by mapet: 9:52am On Dec 26, 2016
WestAfricanGoon:
I'm trying to understand the type of weapons these boko haram people have that you need fighter jets to combat.. Do they have surface to air missiles or what?
Mostly weapons looted from late Qaddafi's Armory....found it's way into black markets, mopped up by ISIS and by extension accessed by BH
Politics › Re: Camp Zero, Converge Point Of Boko Haram Which Soldiers Destroyed On 24th (Pics) by mapet: 9:49am On Dec 26, 2016
uchennaq:
EmekaBlue: :
People hailing army but na Airforce do d job... So d remaining chibok girls have been bombed.Rip
Just sweet Ignorance, people actually meant anybody that participated in the onslaughts. The right word to use is Nigeria Military and civilian JTF. Of course we see and hail Nigerian Air force. These words of encouragement and love from us is the least the Nigerian Military can get. Even in time of difficulties and salary issues, at least let them know the masses love and support them. May Almighty God and Allah BLESS THEM ALL.
@uchennaq Why are you play "politically-correct " answers to @EmekaBlue's crude ignorance and senseless submission? Not Arm, but Airforce did the job...... is that not as senseless as it sounds or is it that some people are so glued to cartoons that they forget to be real?
Phones › Re: We Did Not Sack Oyagbola And We Paid No Bribe - MTN. by mapet: 9:40am On Dec 26, 2016
LorDBolton:
Oga u obviously ain't ever been in a hierarchical organisation before.

And you don't know anyone who's in such orgs.

All you're used to is the term 'sack'

Anyway no need arguing with you... it's your ignorance speaking
Really? grin grin grin grin grin grin grin grin grin grin grin grin grin

I don't even know at what level to engage you then.........
Phones › Re: We Did Not Sack Oyagbola And We Paid No Bribe - MTN. by mapet: 9:39am On Dec 26, 2016
omogidi234:
I agree 100℅ with the last 2 lines however, I have had the privilege of growing in Nigeria. At any point when there are allegations or rumours, the concerned would always deny. Apologies that my words are muddled up above. My intention is to show that the truth on this matter would be unveiled very soon .
Bros,

My primary objective is that we must sanitize the public space with what is decent, lofty, true and what will enrich us all. People MUST earn their pay and in the right way. We are having a ugly trend where some journalists throw lies into the public space and set people making various interpretions to it. That to me is NOT journalism.

I am not even gonna take the position of "in every rumour there is an element of truth"..... personally I think that is an intellectually lazy approach to it. Was it not in this country that a journalist sat in his bedroom and "reported" a full account on/of an event he never attended nor did understand the language used at the event? Yet other journalists and writers "went-to-town" with loads of write-ups based on that reportage later found to be false. Was it not in this country we accused Turai Yar' Adua of having an Aso Rock cabal, only for one of a current Governor to debunk it and even went further to state that they threw the "sentiment" into the media space........

I want to see a news that will stimulate my intellect. I want to see a news that will send MTN tail-between-pants scampering to explain the real reason why Amina left. I want to see news that draws nexus between phone logs of Amina and Kyari, frequency of visits, related account transfers, voice recordings etc........ not some lame-duck excuses of........"from an unnamed source"
Food › Re: Unpacking, Cooking & Reviewing LAKE Rice (photos) by mapet: 7:01am On Dec 25, 2016
I am not sure the relevance of your needless postings to the context of the discussion.

metallisc:
Food Security: Nigeria’s New Silos To Aid Maize Storage
Channels Television.
Updated August 26, 2014

Nigerian farmers would have the opportunity of storing maize in the newly commissioned silos in Sheda, Kwali Local Government Area of the Federal Capital Territory (FCT), government officials have said..

Officials of the Federal Ministry of Agriculture told Channels Television on Tuesday that 100,000 metric tons silos would be used as storage for maize during this year’s harvest.

Other silos across Nigeria would be used to store sorghum, paddy rice, soya beans and millet. But the government is looking to expand by putting in place more silos to accommodate other perishable crops.

Every year, farmers especially in the north turn out huge tonnes of farm produce which is usually more than enough for sale at the markets. The supply often times supersedes demand, resulting in wastage due to lack of storage facilities.

Silos in Nigeria.
The silos are raising hopes of food security in Nigeria, as government tries to diversify the nation’s economy.
To limit the amount of farm produce wastage that farmers record on a yearly basis, the Federal Government introduced the silos across the country to minimise post harvest losses through effective and efficient storage.

Officials at the silos’ site explained that there were about a dozen contractors expected to deliver 500 metric tons of maize during the grain receiving exercise currently going on.

The grains are first scanned on entry before they are sorted out for proper preservation and it can be stored for up to two years.

The 100,000 metric tonne in Sheda area of the FCT is one out of seven across the federation considered the largest in West Africa.


.............................................................................................................................................................



Food Security Receives A Boost, As FG Launches Silo Complex
Olukayode Oyeleye
— Sep 4, 2014 1:33 am

Food security is recognised as central to any nation’s security. The uncertainties that perennially beset any food-insecure nation derive, in part, from inadequacies associated with activities off-field, affecting food storage. On the flip side, developed countries devote quality policy support to food storage which, in turn, guarantees their all-year-round supply of food. Instances abound where and when the surplus supplies of food are either exported or given out as humanitarian and charity support for food-insecure countries.

Many cases of food insecurity are therefore due largely to storage inadequacies, in quality or quantity, leading to a substantial post-harvest wastage. Apart from discouraging many producers (who are mostly small-scale), significant business opportunities and revenues are lost. Under the Agricultural Transformation Agenda, however, the heightened emphasis on food storage lends further credence to the value chain intervention approach, in this case involving infrastructural support for storage.

Storage Capacity
Before the Goodluck Jonathan administration, 13 silo complexes, with a total storage capacity of 311,000 metric tons (MT), were existing and operational. Existing silos in more than 10 locations, spread across the country, were underutilised. Tremendous work has been done to ensure that additional 20 silo complexes are completed by the present administration, to bring the total to 33, with a total storage capacity of 1.336 million MT.

The commissioning of the completed 100,000 MT capacity silo complex in Sheda, Abuja, on August 25, 2014, by Vice President Namadi Sambo, was a testimony to the seriousness the government of President Jonathan attaches to the operations of the silos for people’s benefit. The vice president represented the president on that occasion. The federal government has indicated that there are plans to complete the 11 that are currently at different stages of construction to boost storage capacity and ensure that Nigeria’s strategic reserves are more than adequate in coming years.

The increase in number and sizes of silos in Nigeria is a demonstration of the federal government’s efforts toward revolutionising agriculture, building national resilience and responding to emerging food challenges. Since strategic food reserve is a first line of defence in case of food crises, Nigeria looks set to store enough food to cope with emergencies through the operation of our silos. The silo complexes have been a part of the storage infrastructure of the Strategic Grains Reserve (SGR) department in the Federal Ministry of Agriculture and Rural Development (FMARD).
Phones › Re: We Did Not Sack Oyagbola And We Paid No Bribe - MTN. by mapet: 6:59am On Dec 25, 2016
LorDBolton:
I don't understand how nigerians reason sef, reorientation should be the prime agenda for next year.

Guy she was SACKED! If ordinary bankers resign so they don't get sacked ( yes in the corporate world it happens alot)

Her position had become untenable and there were two options voluntary resignation or sack...

Surprised ya'll don't get it
Please don't front boldness laced with falacies....... Is there any official publication that she was sacked? Is there any investigative work from journalist that proved with facts that she was (except the "fact" of your will rely on "anonymous sources", the typical lazy approach of our journalists)
Phones › Re: We Did Not Sack Oyagbola And We Paid No Bribe - MTN. by mapet: 6:57am On Dec 25, 2016
omogidi234:
By the grace of God, we would be alive when someone will dig up incontrovertible evidence. There have been rumour that the Chief of Staff took bribe before negotiating a downward review of the MTN fine. This has been on for 2-3 months. In fact, it is one of the allegations the AG would be probing. So for the rumour again to come and link the most respected Amina Oyagbola, there is a lead. It may not be Anima Oyagbola but one day, the truth would be out ( with due respect, I am not sure the AG can unravel all or any of these allegations).
Rumour is a lead? please reassess this your submission cos i cannot make any sense out of it. What journalism will make you rush to press based on rumour? What is intelligent in that?
Phones › Re: We Did Not Sack Oyagbola And We Paid No Bribe - MTN. by mapet: 12:37am On Dec 24, 2016
Kunleskey:
What do u expect frm them? nobe to make their own money
By spreading false stories? That is not making money, that is something else
Phones › Re: We Did Not Sack Oyagbola And We Paid No Bribe - MTN. by mapet: 12:26am On Dec 24, 2016
That is why the credibility of many of these online news media will be called to question. Many so called social media influencers some times behave like lap-dogs who jump at news and start the viral spread without verifying the authenticity.

@Sahara Reporters to me just do news by the numbers and less of the quality, authenticity and facts. Some times they get it way wrong and such is off-putting
Food › Re: Unpacking, Cooking & Reviewing LAKE Rice (photos) by mapet:
keenness:
VickyRotex: :
I see Nigeria exporting this rice next year.

Quote me when it happens!

#Made_In_Naija kiss kiss
It will soon happen, first, to other African countries.
I'll rather we slow down and attain food-self-sufficiency first before we venture to export. Many of the Thailand rice we eat are as old as 7-8yrs in storage. The APC govt had mentioned as part of their campaign the quest to build huge silos in the 3 geo-graphically zones of the country for the purposes of heavy storage
Food › Re: Unpacking, Cooking & Reviewing LAKE Rice (photos) by mapet: 10:26pm On Dec 23, 2016
LordHiffy:
Its local or imported?
What a question shocked shocked shocked shocked shocked shocked shocked shocked
Politics › Re: FG To Earn $2bn From New Cash Call Policy by mapet: 3:57pm On Dec 21, 2016
omonnakoda:
You are saying stuff to make yourself feel good.

Do not personalize it.

Address the issues raised.
I will not talk about you .You commit to do the same. Rather than saying such and such is "ignorant" why not demonstrate it with facts and analysis.

We can do

You are ignorant No it is you that is ignorantYou are ignorant No it is you that is ignorantYou are ignorant No it is you that is ignorantYou are ignorant No it is you that is ignorantYou are ignorant No it is you that is ignorantYou are ignorant No it is you that is ignorantYou are ignorant No it is you that is ignorantYou are ignorant No it is you that is ignorantYou are ignorant No it is you that is ignorantYou are ignorant No it is you that is ignorantYou are ignorant No it is you that is ignorantYou are ignorant No it is you that is ignorantYou are ignorant No it is you that is ignorantYou are ignorant No it is you that is ignorantYou are ignorant No it is you that is ignorantYou are ignorant No it is you that is ignorantYou are ignorant No it is you that is ignorantYou are ignorant No it is you that is ignorantYou are ignorant No it is you that is ignorantYou are ignorant No it is you that is ignorantYou are ignorant No it is you that is ignorantYou are ignorant No it is you that is ignorantYou are ignorant No it is you that is ignorantYou are ignorant No it is you that is ignorantYou are ignorant No it is you that is ignorantYou are ignorant No it is you that is ignorantYou are ignorant No it is you that is ignorant

for ever it changes absolutely NOTHING
Ok! You win.........

l8tr
Politics › Re: James Ibori Released From Prison by mapet: 2:21pm On Dec 21, 2016
smileyoo:
ibori as an exconvicts, can he still be a participant in politics, pls lawyers in the house what says thou? we already 've too many looters in nigerian politics,to employ more. just hope the laws of the land stops him from participating.
No he can't
Politics › Re: James Ibori Released From Prison by mapet: 2:20pm On Dec 21, 2016
Akpobome1:
Okundaye4: :
I know oghara people will be celebrating. That idiot almost milk Delta state dry, while paying eye service with Veronica Ogbuagu.
you are calling him idiot and what he did in the state no other governor has done half of it.
How can any other Governor achieve the feat when Ibori stole Delta state blind
Politics › Re: James Ibori Released From Prison by mapet: 2:17pm On Dec 21, 2016
Okundaye4:
I know oghara people will be celebrating. That idiot almost milk Delta state dry, while paying eye service with Veronica Ogbuagu.
Apart from being corrupt, his 419 sense pass the intelligence of Oghara people. He got them to cede a vast acreage to govt under the guise that he wanted to build international Airport. He started road, drainage and light projects in the middle of bush/no-where in Oghara (the land ceded to govt)......it later emerged that govt sold the land to him, including the existing infrastructures..........and ........voila, that area became his Western Delta University.......

but....... Even the current Governor is still one of his "subjects"
Politics › Re: FG To Earn $2bn From New Cash Call Policy by mapet: 2:07pm On Dec 21, 2016
omonnakoda:
Biographies are unnecessary. You know nothing about anyone here this is a faceless forum. Many Nigerians have spent their entire lives in the industry and have NOT figured out how to bring out oil without FOREIGN help.

Arguments that appeal to elevated or special status or knowledge are borne out of emptiness.Just deal with the issues raised. Your logic would seem to indicate that everyone in the industry shares the same view. That is not the case and so who you are and what you are is NOT RELEVANT
Rather than throw around words deal with the specific point raised. Tell us what changes with the new arrangement. Does the FG no longer have an obligation to pay? I have already asserted that they will still pay only not upfront.

At any rate they have not been able to pay upfront for ever so what else is newhuh
At least I can convenient point you out as someone who knows nothing about Oil and Gas business, talk-less of the Nigerian Oil and Gas industry, not to talk of the operating models. You ask questions that are pedestrian here. All you need to do is avail yourself of some literature, and learn, instead of coming online and front your ignorance.

Secondly, I will only respond to comments that is of value to my time and intellect. Your ignorance in this case is not.

Meanwhile, if my telling you I am in the "industry" intimidates you, then, I cannot help that. Your resort to personal slat is unnecessary. Did you ask a question to seek knowledge? No. You presented a false picture out of ignorance. That is what I am pointing to you........
Politics › Re: FG To Earn $2bn From New Cash Call Policy by mapet: 2:01pm On Dec 21, 2016
omonnakoda:
Mister I am in the Industry tell us whether this agreement brings an end to Joint Venture Model.

To my understanding it brings and end to cash calls and this will CARRY A FINANCIAL COST to the Federation account.

To those who do not know until now the FG and the oil majors own Joint ventrures 60/40 which means if the business needs to spend $1 which would go into things like exploration( looking for oil), paying workers remunerations ,pensions etc ,settling communities and so on the Government would drop 0.60 cents and the oil company 0.40 cents while the Oil major e.g Shell is designated OPERATOR of the Joint Venture. Of course this leaves room for Operators to be fraudulent especially when bringing in inputs from oversea.The could e,g bring in a used equipment from one of their foreign operations and bill it as New .They also could use JVs to create employment at the expense of our people.

A cash call is just that . Cash call.

Oya bring money mae we start work.

Typically The FG would not have money on time and the oil major has to use their money or "borrow" at interest which of course the FG pays. The whole thing stinks and NNPC collaborates since NNPC is essentially the Governments ears and eyes.

Now the government is telling us the cash call arrangement has ended fine. Let them give us details because any person who can reason will know that there MUST be a cost
The Cash call money would still be needed and if the oil majors are responsible for looking for money will they do that for free?
Bros,

Will you shove it up! you're just displaying ignorance that is even below the entry level of the knowledge of Oil and Gas business....... Jeeez!!!
Politics › Re: FG To Earn $2bn From New Cash Call Policy by mapet: 1:59pm On Dec 21, 2016
jpphilips:
I have a problem with your number 6, the government does not need to take up operatorship of the JV, infact that smart decision is what has survived our JVs this long.

Our current operators are world class companies with global oil and gas experience, asking the government to operate will amount to suicide.

Again the PSC gave us a huge relief under Obasanjo, just like every good thing in Nigeria is laced with the Nigerian factor viz bureaucracy and corruption, it doesn't mean the policy is bad.

DPR and their unscrupulous ranks murdered our PSC, presently a lot has changed since Kachikwu arrived. I give it to him, that chap is good at what he does.
I don't have problems with IOCs being the operator, In fact I agree to your submission. Rather I have a problem with our JV/JOA model; when the stakeholder puts bulk of the money and do not operate. I feel govt should have over time, reduced their stake in JV arrangements. My contentions are in two folds, first-off, IOCs potentially cheat government ; It is as easy as me presenting a buget of 100X when in actual fact the true cost is 60x. Then govt puts down 60X as (60%) and IOCs outs down 0x as (40%). On the other side, the govt not cut out to "play" and turned lazy by feeding fat on the "incentives" thrown by the IOCs gets played.

I am a believer in the PSC arrangement. We can only get better in it. I have run many economic models and the PSC pays both parties better IMO
Politics › Re: FG To Earn $2bn From New Cash Call Policy by mapet: 8:05pm On Dec 20, 2016
omonnakoda:
You are the one that needs educating .
You have not given any data to show how the new proposal amounts to an improvement.
Yes the previous model had problems we can all agree on that but to say the new proposal is an improvement requires data which you do not have and analysis of which you are not capable.
Changing a thing is not the equivalent of improving it. Painting a house does not make it better.
The fact remains that oil costs money to bring out of the ground and it must be paid for. In fact we are still paying for oil brought out of the ground 40 years ago .How ? Those workers from that time who are still alive and drawing pensions are receiving money from SOMEWHERE today.
Before oil is brought out of the ground it MUST BE FOUND at great financial cost and risk. In pure capitalism the oil companies pay for exploration and enjoy the profits afterwards only paying tax.


Can you tell us whether this new arrangement involves not paying exploration costs and retaining the same ownership percentage of the oil? Who is fooling who?

What is happening is just legalization of what has been already happening i.e the government PAYS LATE. The cash calls will still be paid by a different arrangement (post sales instead of upfront and this will include the cost of money whether borrowed or otherwise)and if that changes the government will give up more oil
Just two statements and I'm out of this discussion with you
1. I need education in an industry I have spent my whole work-life? I can only grin grin grin grin grin grin grin
2. I don't even know where and how to explain beyond this considering the ignorance I see you so boldly submit
Politics › Re: FG To Earn $2bn From New Cash Call Policy by mapet: 10:58am On Dec 20, 2016
Gaskia:
Government may eventually lose more in future without strong systemic control. The arrangement from January 2017 means that govt stops making cash contributions for the running of the JVs. However they will have to pay through crude. So we gain from reserving our money but lose from revenue decline because the E & Ps retain crude equivalent to govt's portion of the JVs responsibility.
Again we could eventually lose more from a non transparent borrowing procedure by the E & Ps or production monitoring.
I don't think so. There is already a PSC model in place that returns more profit to the government at no cost
Politics › Re: FG To Earn $2bn From New Cash Call Policy by mapet: 10:54am On Dec 20, 2016
omonnakoda:
blackaxe78: :
Great move!
Great do you have a clue what is going on? I doubt it .

The government is in a business venture with the oil majors and are required every year to contribute to the business.Every year they fail to do so and the oil majors "borrow" the money in very opaque circumstances.

If now we are being told the government no longer has to contribute then one must ask; How is this possible,where will the money come from and at what cost ,on what terms? We are not told at all and you are here parroting "great move" .What is great about it?
Bros,
1. I think you should get educated on this rather than castigate the guy
2. Yes, it is indeed a great move and also a bold move
3. First off, Nigeria is probably one of the last of "Oil countries" that is still using the JV model for the earlier IOCs
4. This proposal has been in the works since the days of OBJ in the first version of the PIB. It is only this government that showed the will to implement it
5. The PSC model has shown that investors can indeed self fund Oil exploration, development and production and return profit to the FG and to themselves
6. The JV model is a huge waste of govt money. How can someone put down 55-60% of the cost and will not be the operator? This led to wasteful ventures like cases of over-stating of projections, Over-stretching of projects, and Unnecessary projects being brought into line, not to talk of the perennial cases of corruption that bedeviled the industry.
Politics › Re: FG To Earn $2bn From New Cash Call Policy by mapet: 10:35am On Dec 20, 2016
azimibraun:
Achuwa1: :
This Buhari govt can lie!!!!!!! & even lachikwu has joined them in telling lies.
Who are they deceiving tht they are producing 2.2mbpd.Nigeria produced 2.2mbpd only during Gej regime & it has been fluctuating since this govt came into power coz of their evil atrocities against the Niger delta,b4 if finally crashed presently to below 1mbpd.
Story for the Gods.
Prove them otherwise Empirically.. present your facts. Am tired of people criticising everything thing this government says or do with empty talk. Just watch channels tv and 3 guest will come on sunrise daily and suggest 3 different things this government will do on just a single item. All 3 will give shallow and empty suggestions and all 3 will disagree with each others views. And each of them wants the government to adopt their shallow views. Sarcasm and playing to the gallery has taken over good conscience and reasoning in Nigeria. Very soon Nigerians will begin to protest against empty bashing of this government. Match them with facts and figures, prove to them with clear evidences that they are not delivering. Am tired of critics more than the government self..
@azimibraun ,

you're even taking a complex perspective to address the non-starter @Achuwa1. Why not we tell him to do the simple thing, which is to read the article

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