₦airaland Forum

NOETHNICITY:
Shut up

malali:
Tinubu's Governement wants to sell Crude Oil That will be exported long after he is out of power.

Thats why NNPC is collecting loans backed by Crude oil.

Example, they borrow 2.5 billion dollars in 2024. They will repay back after in 10 years (2034) with 7.5 billion dollars worth of crude oil at that particular time.

If the crude oil sales now is not enough for funding the budget. How will the Oil sales in 2034 be enough, when we are going to be using it to repay debt collected 10 years ago by Tinubu's administration ?

This administration is going to rape the future of Nigerian economy.

Its high time Tinubu becomes more transparent with the Oil and gas sector. Come out and tell us the numbers, how many barrels, price sold,accrued revenue, he is so quick to publish how much the governors are getting but never publish how much he gets for Nigeria on a federal level.

004gist:
If it's onyema of airpeace that own dangote refinary we would be expectant and be shocked with surprises from him.
The guy is passionate n understand Nigeriand sufferings
But u see dangote... don't expect shishi from him just like he did with cement

malali:
Tinubu's Governement wants to sell Crude Oil That will be exported long after he is out of power.

Thats why NNPC is collecting loans backed by Crude oil.

Example, they borrow 2.5 billion dollars in 2024. They will repay back after in 10 years (2034) with 7.5 billion dollars worth of crude oil at that particular time.

If the crude oil sales now is not enough for funding the budget. How will the Oil sales in 2034 be enough, when we are going to be using it to repay debt collected 10 years ago by Tinubu's administration ?

This administration is going to rape the future of Nigerian economy.

Its high time Tinubu becomes more transparent with the Oil and gas sector. Come out and tell us the numbers, how many barrels, price sold,accrued revenue, he is so quick to publish how much the governors are getting but never publish how much he gets for Nigeria on a federal level.

DMerciful:
Sometimes its good to remind people that the rain does not fall on one man's roof alone. What goes around, comes around.

004gist:
If it's onyema of airpeace that own dangote refinary we would be expectant and be shocked with surprises from him.
The guy is passionate n understand Nigeriand sufferings
But u see dangote... don't expect shishi from him just like he did with cement

Exclusive101:
That is to say other did not collect loan from previous administration into Tinubu administration ba ?!

So crude oil wasn't sold from previous administration long into Tinubu administration, Do you know Tinubu is still repaying a loan for crude arrangements by Buhari till this hour a year into his own administration so why do you Ihbo like making noise at every senseless opportunity.

kayperry:
Shutup jare ! remind people abi you are trying to derail the thread into tribalism ...

if what goes around comes around, how does that bypass you ... we are not all visiting the same filling station, buying from the same market, is your own economic different frm tinubu economic

How God take catch us wey you escape

bet9ja:
Shouldn't there be a law in place for each regime not to sell oil in advance above there tenure in office.

DMerciful:
My point is lets create a system thats fair to all.

Islie:
“These international trading arms are non-value adding middlemen who sit abroad and earn margin from crude being produced and consumed in Nigeria. They are not bound by Nigerian laws and do not pay tax in Nigeria on the unjustifiable margin they earn.

“The trading arm of one of the IOCs refused to sell to us directly and asked us to find a middleman who would buy from them and then sell to us at a margin. We dialogued with them for 9 months and in the end, we had to escalate to NUPRC who helped resolve the situation,” Edwin stated.
https://dailytrust.com/iocs-selling-crude-at-4-per-barrel-above-market-price-dangote/

gigabyte13:
This regulatory Bodies across board are very very useless....
All of them are compromised entities.
Scrap them all.
Tell me one that is functional, except they are called out, function for some few days or weeks and go back to their old ways.

Standing5:
You said nothing sensible. Just because it has a name doesnt make it right. What is NNPC doing to deserve 5 usd per barrel. That's what is making NNPCL political and being headed by one dictatorial guy for so many years now. Until he is picked out and someone from outside his clique takes over, we wont know what is going on.

RandomFellow:
Wow! My neighbor produced yams from her farm, a very bountiful harvest. She's selling her yams. It's not cheap. I want to buy the yams at market rate from her. She refuses to sell to me, but insists I look for a shop owner in the market, let that shop owner come and buy from her, then sell to me.

No... The shop owner is not selling to me at the price he bought; he's selling to me at a premium, in addition to the market value I should have paid if I bought directly from my neighbor. This premium, has nothing to do with Nigeria law or government. No value added, no tax paid, no CSR, nothing!!! Just earn free money from me!!!

Oh... That shop owner turns out to be my neighbor's younger brother. The shop even belongs to my neighbor.


Again, I say WOW!!!

RandomFellow:
Wow! My neighbor produced yams from her farm, a very bountiful harvest. She's selling her yams. It's not cheap. I want to buy the yams at market rate from her. She refuses to sell to me, but insists I look for a shop owner in the market, let that shop owner come and buy from her, then sell to me.

No... The shop owner is not selling to me at the price he bought; he's selling to me at a premium, in addition to the market value I should have paid if I bought directly from my neighbor. This premium, has nothing to do with Nigeria law or government. No value added, no tax paid, no CSR, nothing!!! Just earn free money from me!!!

Oh... That shop owner turns out to be my neighbor's younger brother. The shop even belongs to my neighbor.


Again, I say WOW!!!

Exclusive101:
Rest this Igbo clown tell Onyeame to build refinery now and give Nigerians duel free

What happened to Orient Petroleum Refinery Peter Peter Obi looted Anambra to death to build. ₦4 billion gone without producing pure water talk less of fuel.

RandomFellow:
Wow! My neighbor produced yams from her farm, a very bountiful harvest. She's selling her yams. It's not cheap. I want to buy the yams at market rate from her. She refuses to sell to me, but insists I look for a shop owner in the market, let that shop owner come and buy from her, then sell to me.

No... The shop owner is not selling to me at the price he bought; he's selling to me at a premium, in addition to the market value I should have paid if I bought directly from my neighbor. This premium, has nothing to do with Nigeria law or government. No value added, no tax paid, no CSR, nothing!!! Just earn free money from me!!!

Oh... That shop owner turns out to be my neighbor's younger brother. The shop even belongs to my neighbor.


Again, I say WOW!!!

Image123:
Dangote's whining don dey plenty. i have always maintained that Dangote can't sell cheaper than imported. He'll only help with not having to lose forex. The game is on. Other refineries better step up and stop looking to Dangote as saviour. He's a business man not Nigeria's sugar daddy.

adioolayi:
"The NUPRC Chief Executive was probably misquoted by some people hence his statement that IOCs did not refuse to sell to us. To set the records straight, we would like to recap the facts that aside from Nigerian National Petroleum Corporation Limited (NNPCL), to date, we have only purchased crude directly from one other local producer (Sapetro). All other producers refer us to their international trading arms.

“These international trading arms are non-value adding middlemen who sit abroad and earn margin from crude being produced and consumed in Nigeria. They are not bound by Nigerian laws and do not pay tax in Nigeria on the unjustifiable margin they earn."


These are the key bottlenecks a serious government should focus on resolving.

You keep talking about ease of doing business and neglect the fundamentals.
Those local companies that are doing all these underhand deals by refering to their principal partners abroad should be heavily sanctioned by now...if local markets is not your first priority, then leave our country!!!

ElSudani:
Companies like Dangote are protected in other countries. You should check the special status accorded Companies like Hyundai and Daewoo in South Korea.

Image123:
Dangote is over protected in Nigeria, that's not news. He's always had this status of a front bagman for the government. He doesn't have my sympathy but my logic.

004gist:
Orient Petroleum Resources operates two oil block which are in disputed area with Kogi state.

I think the matter is still in court.

Anyway, ORP is a publicly quoted company (PLC). This information is for the ignorant f00ls who are already mentioning Peter Obi and Igbo here.

I am sure they don't know what a PLC is

adioolayi:
"The NUPRC Chief Executive was probably misquoted by some people hence his statement that IOCs did not refuse to sell to us. To set the records straight, we would like to recap the facts that aside from Nigerian National Petroleum Corporation Limited (NNPCL), to date, we have only purchased crude directly from one other local producer (Sapetro). All other producers refer us to their international trading arms.

“These international trading arms are non-value adding middlemen who sit abroad and earn margin from crude being produced and consumed in Nigeria. They are not bound by Nigerian laws and do not pay tax in Nigeria on the unjustifiable margin they earn."


These are the key bottlenecks a serious government should focus on resolving.

You keep talking about ease of doing business and neglect the fundamentals.
Those local companies that are doing all these underhand deals by referring to their principal partners abroad should be heavily sanctioned by now...if local markets are not your first priority, then leave our country!!!

bet9ja:
Shouldn't there be a law in place for each regime not to sell oil in advance above there tenure in office.

Exclusive101:
Rest with your foolish lies.
Why won't you be thinking since it involve you Igbo. Over 12 years refinery de litigation after commissioning which millennium with it start production.

Orient Petroleum Refinery is PLC
But Dangote refinery is MLC ba according to your Igbo head.

It is PLC but your Agulu criminal Peter Obi can sink over ₦4 billion into it with nothing to show after 14 years it was commissioned yet your tribesmen will be the ones making the loudest noise over delay from Dangote Refinery which was commission less than 2 years ago.

DMerciful:
I remember when Air Peace boss was lamenting, agbados said if he cannot compete, he should shut up.

Now let's see what they'll say to the lamenting Dangote