₦airaland Forum

The Buhari administration did very well here. These are cash call debts owed IOCs pre 2015, at a time of record oil revenues. To be fair, the pay back mechanism started before 2015 but the main implementation was carried out by this regime. That scheme should be expanded to sustainably solve this perennial cash call debt issue by NNPC on behalf of FG.

ebufa:
I have said it that some of you people in this forum are irredeemably dumb, what kind of foolishness allows Nigeria to pay IOCs cash for capital expenditure for the privilege of producing our own oil.........these Fulanis are only wise and smart at selling our collective future for crumbs. Saudi Arabia produces her own oil, the Saudi national oil company( Aramco) is run by Saudi Arabians but they buy the best technology and hire the best oil engineers from the world and pay them handsomely to work in Arabia...........meanwhile Fulanis have turned NNPC into another Arewa parastatal....were they dump their lazy and ill-educated children. if Fulani-led NNPC cannot run ordinary refineries, is it the extra ordinarily complex task of oil exploration and exploitation that they will be able to handle?

Fascinating that you call people dumb when you yourself don't understand the mechanism of how Joint Venture partnerships work whether here in Nigeria or elsewhere in the world.

steveneche:
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[quote author= post=109038428]Slow and steady we will get to the land flowing with milk and honey.

Nigeria will be great in our lifetime.

Nigeria will succeed.

God bless Nigeria ��[/quote]The demon when go handle you still dy road..

Continue your rubbish this year, you will only have yourself to blame

stepaside2:
Fascinating that you call people dumb when you yourself don't understand the mechanism of how Joint Venture partnerships work whether here in Nigeria or elsewhere in the world.

Are you minding him? Classic example of how the ignorant embarrass themselves saying nonsense!

tradepunter:
The demon when go handle you still dy road..

Continue your rubbish this year, you will only have yourself to blame

Seun Mynd44 Justwise Dominique.
Rule 2

stepaside2:
Fascinating that you call people dumb when you yourself don't understand the mechanism of how Joint Venture partnerships work whether here in Nigeria or elsewhere in the world.

oga ........no serious nation does that anymore! those cash calls are a highway to massive corruption! the joint oil ventures is an opaque abyss and cesspit of graft! If these joint ventures were transparent, the FG should mandate the JVs to list their shares on the Nigerian stock exchange and the New York Stock exchange, let us see if the integrity of their accounts will survive the scrutiny of investors and analysts! am no spring chicken jack!

GreyLaw:
I know the guy won't reply you because he didn't read the report. I read it and will reply you.

It wasn't Jonathan's administration alone. The FG has been owing them for several years and they only signed to defray the debt inchred for 5 years from 2016 backwards.

Moreover, Buhari has borrowed more than several administrations put together, so I really don't know what you are talking about!

I hope Nigerians can read reports completely in order to respond to posts like yours that try to be clever by half. Such posts as yours made Buhari the "born again democrat" that he currently is, and we see how that turned out.

I know the history of that debt way beyond this particular news report. The debt was accumulated by the Jonathan regime.

I do not regard the Buhari regime much, as long as corruption still thrives in every government office and security agencies, however, I will not put blame where it does not belong either.

ebufa:
oga ........no serious nation does that anymore! those cash calls are a highway to massive corruption! the joint oil ventures is an opaque abyss and cesspit of graft! If these joint ventures were transparent, the FG should mandate the JVs to list their shares on the Nigerian stock exchange and the New York Stock exchange, let us see if the integrity of their accounts will survive the scrutiny of investors and analysts! am no spring chicken jack!

You are mixing up two issues. Transparency and governance in business is your grouse, fair enough. NLNG model is similar to what you advocate. SEPLAT is a publicly quoted company in a joint venture with NNPC, same model. They both raise funds from the market for their operations. The issue on ground is clearing of legacy debts from the past. 2 separate issues

tradepunter:
The demon when go handle you still dy road..

Continue your rubbish this year, you will only have yourself to blame

Again,
Seun Mynd44 Justwise Dominique.
Rule 2

ebufa:
I have said it that some of you people in this forum are irredeemably dumb

Again,
Seun Mynd44 Justwise Dominique.
Rule 2

stepaside2:
You are mixing up two issues. Transparency and governance in business is your grouse, fair enough. NLNG model is similar to what you advocate. SEPLAT is a publicly quoted company in a joint venture with NNPC, same model. They both raise funds from the market for their operations. The issue on ground is clearing of legacy debts from the past. 2 separate issues

the JV operations with the IOCs, hidden in some smoky backroom in Aso rock is an open invitation to corruption! the sure way to minimize corruption is to mandate the JVs to go public! or we nationalize our oil assets 100% and headhunt talent from all over the globe to run NNPC.Oil drilling is old technology,we can buy the technology now!.........anyway dis one am vexing here maybe for nothing at the end of the day cos electrification of the automobile may have just disrupted the whole crude oil industry.The NLNG model is a better model but its so late in the day to adopt !