₦airaland Forum

I feel terrible for Nigerians.

igwebuike01:
You are not familiar with Anambra politics before Obi. If not for tribalism he would have retired Tinubu gang like he did to Chris Uba and Emeka Offor gang. Anambra was more complex than Nigeria except for tribal and religious diversity

Anambra was more complex than Nigeria? Lolz.
When he even had Ojukwu backing him up as his preferred candidate.
Anambra doesn't hold a candle to Rivers State, not to talk of Nigerian politics as a whole.

You're saying Alex Otti because he is there now. You would have said he cannot do it if he did not win, just as you're saying for Obi. Today, Anambra is in the top five of every indices thanks to the legacy of Obi but probably because you don't like Obi, you try to water down his competence and capability but believe a man already failing is better than a man with a precedence for performance.

Anyways, enjoy your Tinubu

Wainey:
well small LP is enough to distract Obi, but he wants to take over a country with inflation, poverty, strong oppositions, insecurities and a neck pressing Dept.

If there is a person the political class was afriad of, I think it was Tinubu. Even APC his party fought him, central bank fought him.

It's just my opinion but I think Obi will do better in a saner climes where the institution are strong and the country is working, but a crippled country like Nigeria, he will be overwhelmed like Buhari was, small Dino melaye almost made him cry last year. He can't create the Nigeria we all deserve, I pray we get a better opposition in 2027 to wrestle power with APC cos Obi and Atiku are not the answers to our prayers.
Btw, I am not brainwashed, the only better option from that LP is Alex Otti

Biodun556:
One of the reasons why NNPC can not supply local refineries is because Buhari government sold crude oil in advance in a contract that ends in June

There was a press conference he was with Trump in. Trump put a pile of papers infront of him and the idiot just began signing like a school boy. Trump was smiling like a cooked he-goat the entire time. That's when I knew that mugu was selling us live on camera. They didn't even talk they just shook hands and the papers came.

I have never seen one head of state hover over another while the other is face down signing papers alone on camera like a chimp

DMerciful:
You're saying Alex Otti because he is there now. You would have said he cannot do it if he did not win, just as you're saying for Obi. Today, Anambra is in the top five of every indices thanks to the legacy of Obi but probably because you don't like Obi, you try to water down his competence and capability but believe a man already failing is better than a man with a precedence for performance.

Anyways, enjoy your Tinubu

Today Anambra is top thanks to Obi legacy?
Thesame Obi all of u were insulting when he was a governor.

Oga Obi's past didn't say good about him, he is a disaster. Goodnight

Obi was the best lerforming governor during his time with numerous awards. You're using beer parlour gossips to rate Obi. Enjoy your Tinubu

Wainey:
Today Anambra is top thanks to Obi legacy?
Thesame Obi all of u were insulting when he was a governor.

Oga Obi's past didn't say good about him, he is a disaster. Goodnight

DMerciful:
Obi was the best lerforming governor during his time with numerous awards. You're using beer parlour gossips to rate Obi. Enjoy your Tinubu

beer parlour? Show me one person that praised Obi when he was a governor and I'll tell u 10 persons that said he is the worst.
There are two threads back then about Obi, not even a single person talked good about him.
Abeg let's not be blinded, if the youths want to project someone, I'll prefer Alex Otti, Sanwo Olu, Donald Duke and the rest. Not Obi

DMerciful:
I'm from South south but we vote along same lines

You're a Igbo man from the south east. I wont b shock if you're one of the people who donate and have a soft spot for IPOB

ElSudani:
So, Tinubu has been running the economy without revenue from crude oil?

no sir... Majority of our national spending is funded by proceeds from oil. it is possible that money and assets from that agreement, trickled down to the current administration...

Wainey:
well small LP is enough to distract Obi, but he wants to take over a country with inflation, poverty, strong oppositions, insecurities and a neck pressing Dept.

If there is a person the political class was afriad of, I think it was Tinubu. Even APC his party fought him, central bank fought him.

It's just my opinion but I think Obi will do better in a saner climes where the institution are strong and the country is working, but a crippled country like Nigeria, he will be overwhelmed like Buhari was, small Dino melaye almost made him cry last year. He can't create the Nigeria we all deserve, I pray we get a better opposition in 2027 to wrestle power with APC cos Obi and Atiku are not the answers to our prayers.
Btw, I am not brainwashed, the only better option from that LP is Alex Otti

The problem with most Nigerians like you is that you do not know what true economic development is? In terms of good governance anambra still remains one of the better governed states in the federation..........no thanks to the foundation laid by peter obi, remember he fought for his mandate for over 2 years and was impeached twice yet he was not distracted! He is not a flashy politician but he has rock solid management skills ...far better than Tinubu!

I'm Igbo from Delta State. You don't know me but if you go through my old post you'd see that

Paraman:
You're a Igbo man from the south east. I wont b shock if you're one of the people who donate and have a soft spot for IPOB

You don't know anything, you're just ignorant! Bye

Wainey:
beer parlour? Show me one person that praised Obi when he was a governor and I'll tell u 10 persons that said he is the worst.
There are two threads back then about Obi, not even a single person talked good about him.
Abeg let's not be blinded, if the youths want to project someone, I'll prefer Alex Otti, Sanwo Olu, Donald Duke and the rest. Not Obi

igwebuike01:
I don't understand you people, SE stand alone? Next time you brag about "building bridges". Lol. Yet SE can't mention a region that have consistently voted in the same pattern with them. You will remain an orphan in the south. Focus on your almajiri ally

An orphan you say , you that get both parents Wetin you don gain with it , south west don produced 2 presidents and 1 vice president since 1999, Wetin south East don produce with your both parents. Thanks to Obasanjo that help the scheming of Jonathan to become the president , when Tinubu was trying to make Akpabio Senate President no be your brother Kalu that was crying on national TV campaign against him , did you people remember then that SS and SE Dey vote the same way , thanks to the South west that stood behind him. Na unah Hate for south west go finish you people , just to remind you that Igbo need south west more than they need South East. South west hardly come to unah states , na unah Dey enter night bus to come south west. If unah fail to align with south west . When south west don finish their 8 years and power return back to North for another 8 years , na South South go produce president after that , then unah go cry tire

THE PROPAGANDA OF FORWARD SALE OF NIGERIA'S CRUDE OIL
A forward sale of crude oil refers to an agreement to sell a specific quantity of crude oil at a set price on a specific date in the future. This type of agreement is a common hedging strategy used by oil producers, refiners, and traders to manage price risk.
It's true that NNPCL entered into ‘cash for crude’ deals worth about $5.6 billion with some of its business partners.
For instance, NPDC, a subsidiary of the NNPC, has a capital commitment contract of $1.04 trillion with Eagle Export Financing Limited for the forward sale agreement for the delivery of crude oil.
No exchange of cash: No money changes hands until the delivery date.

NNPCL’s about 60% stake from overall produced oil is about 800kbpd of 1.5 million production daily. If Dangote takes about 650 of 800 and pays in naira, where does NNPC get $ for its cash call obligations and for the FG?

For the first time in history under PBAT, Afrexim loan was tied to 90,000 bpd. The NNPC is about to take another $2bn loan with 50,000 bpd. PMB executed at least 7 forward sales agreements with the NNPC. We have 140,000 bpd + ( PMB forward sales ).
Normally, at 1.2m bpd production and 60/ 40 JV, we should get a minimum of 600k - 700k bpd. If we remove the various forward sales agreements, we may be left with 150k - 200k. This is the leftover equity value that earns us our fx.

Forward sales is standard practise in oil and gas industry. Oil or gas is not an off the shelf item, u enter into forward contracts to plan your cashflow as seller and for buyer to be assured of regular supply of products. Forward sales is different from pledging your oil income/receipt as repayment for loan.

Total import from Malta went from zero to N1.03 trillion in 2023, NBS data reveals
In the first quarter of 2023, Nigeria’s imports from Malta recorded a value of zero, representing 0% of the total imports for that period. This lack of imports set a stark contrast for the subsequent quarters.
By the second quarter, import from Malta was N181.55 billion, accounting for 3.17% of Nigeria’s total imports for the period (this is immediately when Tinubu was sworn in).
The upward trend continued into Q3 2023, with imports from Malta soaring to N561.37 billion, representing a 6.64% share of the total imports for the quarter, showcasing a significant increase of 209.20% when compared to the previous quarter.
However, by Q4 2023, there was a sharp decline in the value of imports from Malta. The imports dropped by 48.01% to N291.98 billion, contributing to only 2.07% of Nigeria’s total imports for the quarter.

https://nairametrics.com/2024/07/28/total-import-from-malta-went-from-zero-to-n1-03-trillion-in-2023-nbs-data-reveals/


NNPCL CABALS/MAFIAS MALTA BLENDING PLANT
When Buhari came into power he blocked NNPCL Mafias' Malta blending plant through which NNPCL & other crook marketers and Govt officials used to import dirty oil to Nigeria a year after making NNPC sole importer of crude oil.
PETROLEUM OIL IMPORTATION FROM MALTA, 2013-202[/b]3
2013: $47.5 million
2014: $59.98 million
2015: $117.01 million
2016: $13.32 million
2017 to 2022: Nil
2023: $2.08 billion
[b]Immediately after his exit from office in the same year the mafias regrouped and we imported $2.08b oil from the controversial plant.

MALTA SAGA
When the Malta-NNPC comment was made by Dangote, there was suspicion that there is more to it. A group decided to investigate further.

Firstly, here is the breakdown of the whole Oil theft process and how Oil exporting and importing business works here in Nigeria.
NNPC grants importation licenses to a select group of oil companies, which are responsible for importing petroleum products into the country. These companies set the prices for petroleum products, and the media often refer to them as "oil marketers."
We’ve another set responsible for exporting/selling unrefined petroleum products both locally nd internationally. NNPC and few partner companies plays a major role in this sector, along with high-ranking govt officials, military leaders, & politicians who are involved in oil theft.
To better understand this thread here is the brief explanation of how oil exportation and importation works in Nigeria.
Please note every point you will need them as references as the explanation of the sorted items progressed:
1. Extraction: Oil is extracted from the ground using drilling rigs.
2. Processing: The crude oil is exported (internationally) to refineries where it is processed into refined products

3. Transportation: The processed oil are transported from the refinery to storage tanks, blending facilities, and ports, typically via pipelines or ships.
4. Export: At the port, the oil is loaded onto tankers or other vessels and shipped to Nigeria and other countries.
5. Sale: The oil is sold to buyers in Nigeria at a price set by the importer (oil marketer). The government subsidizes a significant portion of the oil price to make it more affordable for citizens, a practice known as fuel subsidy.

Now let’s link the list together; recently, Oando PLC announced the approval to acquire 100% of Nigerian Agip Oil Company. This effectively means that the Tinubu family now owns Agip Oil, which is part of Eni S.p.A., an Italian multinational oil and gas company.
Agip Oil operates 17 onshore oil blocks and produces 11 million barrels of oil and condensates annually, and it also manages the Bonny natural gas liquefaction plant. One might wonder why such a successful company would divest 100% of such a critical asset.
Observing similar situations, like the case with Dangote, suggests that this sale was not made lightly. Now, these crucial oil fields and plants in Nigeria are under the control of Tinubu through Oando PLC which is Tinubu’s family owned not even NNPC.
Continuing, with their control over substantial oil reserves in the Niger Delta and the ability to explore further through Agip Oil, their next step is refining. Instead of building a refinery in Nigeria, they opted to construct one in Malta 🇲🇹.
This move allows them to exploit the country's resources and obscure their activities.

In early 2021, Enemed Co Ltd, the leading fuel supplier in Malta, issued a tender for the leasing of storage tanks and a blending facility at the Ras Hanzir Oil Terminal in Malta.
Ras Hanzir Oil Terminal Limited won the bidding. It is owned and operated by the Tinubu family, with Wale Tinubu, who is also the chairman of Oando PLC, serving as its chairman along with other members of the Tinubu family and their associates.


🇳🇬 PETROLEUM OIL IMPORTATION FROM MALTA, 2013-2023

2013: $47.5 million
2014: $59.98 million
2015: $117.01 million
2016: $13.32 million
2017 to 2022: Nil
2023: $2.08 billion

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