₦airaland Forum

mrvitalis:
Trust me Nigerian unproven gas reserve is over 3 times that if not more

Enugu for example have massive gas deposit from nsukka to udi to other places

Yes nsukka even have oil that government have refused to explore

Even udi has seen crude oil come out from the ground on its own


Ebonyi has had oil wells since the Early 1900 explored by the colonial powers

Anambra, IMO n Abia are well known

Anioma is a gas hubs

Obigbo, asa, ndoni, egebama are gas hubs

Most states in Nigeria....even in the North.

The issue is " is it in commercial quantity "

.most places don't have it in commercial quantity

BreconHills:
Yes, but..

There is a huge cost to extracting such resources. International companies also require a transparent fx rate. These two things cannot be achieved with petrol and fx subsidies.

PMS and protection of the FX rate has nothing to do with creating a conducive environment for resource exploration.

Are the people illegally exploiting the natural resources hampered by removal of subsidies?

The problem is the corrupt leadership that is more concerned with how to enrich itself than actual development.

razzydoo:
How can we trust you?
Please back up your claims.
Where are your facts coming from?
Your claim here that government refused to explore some SE oil deposits has ethnocentrism coloration to it.
Something that will increase revenue for government.
Haba!!!

Natural Gas Flair in Enugu. So there are abundant on tap natural gas in the east that doesn't need mush to explore because some places it is not more than 50f below the ground level.

razzydoo:
How can we trust you?
Please back up your claims.
Where are your facts coming from?
Your claim here that government refused to explore some SE oil deposits has ethnocentrism coloration to it.
Something that will increase revenue for government.
Haba!!!

You sound naive, why do you think the refinery was not sold to Dangote?

Why do you think Onitsha river port build over 10years ago is not working?

Why do you think Apapa congestion has not been solved?

Thanks. Welldone, @least you understand how things are supposed to be done.

Slic1:
Natural Gas Flair in Enugu. So there are abundant on tap natural gas in the east that doesn't need mush to explore because some places it is not more than 50f below the ground level.

andy244:
70% of Nigeria natural gas is in Imo State


Characters needed

50 percent of nigerias gas reserve is in the Niger delta, 30 percent are offshore.

How come imo holds 70 percent?
You can't even prove that imo holds 15 percent.

PHIPEX:
You sound naive, why do you think the refinery was not sold to Dangote?

Why do you think Onitsha river port build over 10years ago is not working?

Why do you think Apapa congestion has not been solved?

you were simply asked to back up your claims you are asking irrelevant questions.

sometimes some of you guys should stop disgracing yourselves on the internet, it's easy for you to confirm the information by just a click with your google than disgracing yourself

Ibadanfarmroad:
50 percent of nigerias gas reserve is in the Niger delta, 30 percent are offshore.

How come imo holds 70 percent?
You can't even prove that imo holds 15 percent.

agwunchapius:
sometimes some of you guys should stop disgracing yourselves on the internet, it's easy for you to confirm the information by just a click with your google than disgracing yourself

i checked Google and chatgpt and was not able to find a reliable source to confirm your claim.
Please can you post a verifiable link from an official source to back up your claim sir?

Kingbenn:
Are you sure of this claim? Especially the one of Ebonyi state. The state doesn't look like it has any oil at all

In my village,if you dig well too deep,oil will pollute the water coming out from it.

Ibadanfarmroad:
50 percent of nigerias gas reserve is in the Niger delta, 30 percent are offshore.

How come imo holds 70 percent?
You can't even prove that imo holds 15 percent.

Imo State holds the highest gas reserve in Nigeria.
The above statement is proven

ivandragon:
This is one of the key reasons I am skeptical about certain policies of government that have increased the socio-economic burden on Nigerians.

Nigeria's vast natural resources remain largely unexplored or have been cornered by economic cabals that the government is too scared to confront.

You too get sense, this 40 character thing na real shege banza

franchasng:
Honestly Nigerian federal government controlled by successive Northern and Southwestern origin Presidents have not been fair to Southeast region.


They intentionally abandoned crude oil sites and wells in most parts of Southeast just to sabotage Southeast region's economy and to justify their mantra that Southeast is not an oil-rich region like the Niger Delta region.



I know of sites in:


Nekede Imo state
Ihiagwa Imo state
Mbaise Imo state
Udi Enugu state


That were intentionally abandoned by the federal government for decades now.


During Biafra-Nigeria war, my father said Biafra refined crude in some parts of Imo locally, those crude oil sites were abandoned to date.



But it's still good sha, at least it saved Southeast lands and rivers from being polluted and destroyed

It is good abeg.

Let them leave them unexplored.

We don't want pollution.

No part of Delta State is part of the South East. Is it by force.

mrvitalis:
Trust me Nigerian unproven gas reserve is over 3 times that if not more

Enugu for example have massive gas deposit from nsukka to udi to other places

Yes nsukka even have oil that government have refused to explore

Even udi has seen crude oil come out from the ground on its own


Ebonyi has had oil wells since the Early 1900 explored by the colonial powers

Anambra, IMO n Abia are well known

Anioma is a gas hubs

Obigbo, asa, ndoni, egebama are gas hubs

Where is your village cos I am familiar with Ebonyi very well

Kpokrikpor:
In my village,if you dig well too deep,oil will pollute the water coming out from it.

ivandragon:
PMS and protection of the FX rate has nothing to do with creating a conducive environment for resource exploration.

Are the people illegally exploiting the natural resources hampered by removal of subsidies?

The problem is the corrupt leadership that is more concerned with how to enrich itself than actual development.

No sir the people mining illegally are not doing it at scale. Were they to attempt such they would know that they do not have a business. Do they have rigs costing thousands of dollars per day? Of course not. They are subsidized by the pipes they break open.

Subsidizes are impossible where scale is required. Its like trying to blow a balloon with a hole in it.

BreconHills:
No sir the people mining illegally are not doing it at scale. Were they to attempt such they would know that they do not have a business. Do they have rigs costing thousands of dollars per day? Of course not. They are subsidized by the pipes they break open.

Subsidizes are impossible where scale is required. Its like trying to blow a balloon with a hole in it.

https://punchng.com/nigeria-losing-9bn-yearly-to-illegal-mining-reps-cttee/

You call a loss of $9bn yearly not at scale?
In dollar terms, that is over 50% of the FG's 2025 budget.

Your position is even funny given that you are tacitly acknowledging government's incompetence I'm tackling economic saboteurs which was the crux of my point ab initio.

That subsidies need to go is no longer the issue, but it is now the incompetence of the government in all facets of socio-economic development.

Anyway, there will always be those who justify obvious failings, so enjoy.

ivandragon:
https://punchng.com/nigeria-losing-9bn-yearly-to-illegal-mining-reps-cttee/

You call a loss of $9bn yearly not at scale?
In dollar terms, that is over 50% of the FG's 2025 budget.

Your position is even funny given that you are tacitly acknowledging government's incompetence I'm tackling economic saboteurs which was the crux of my point ab initio.

That subsidies need to go is no longer the issue, but it is now the incompetence of the government in all facets of socio-economic development.

Anyway, there will always be those who justify obvious failings, so enjoy.

Your answer is simplistic and inaccurate.
Nigeria's GDP is $500bn
$9bn is 1.8% of GDP
Illegal mining ( solid minerals only ) is 0.63% of GDP

And this loss is "potential" estimated loss. It is not proven loss.

So now we have addressed the numbers let's look at the reason. Yes a lot of it us due to bandits supported by political figures. That's same everywhere. But the economic reason is that there is insufficient onshore processing. Once we see more in country processing those figures will drop. We can see this with Segilola Gold in Ilesha

For Lithium - coming on stream are the following:
Kaduna- Niger border $600 million plant. Abuja $200 million plant. Two more plants will come up in Nassarawa by Q3 2025. This will produ e hundreds of thousands of tonnes far surpassing illegal mining and providing a legal outlet for even artisianal mining

This is how to handle artisianal mining and raw form smuggling.

Bashing the government is fine, even good. But it must be done with logic and data else it lacks the credibility to effect any change.


Ghana loses 2.5% of GDP with "just" a $2bn "loss"

BreconHills:
Your answer is simplistic and inaccurate.
Nigeria's GDP is $500bn
$9bn is 1.8% of GDP
Illegal mining ( solid minerals only ) is 0.63% of GDP

And this loss is "potential" estimated loss. It is not proven loss.

So now we have addressed the numbers let's look at the reason. Yes a lot of it us due to bandits supported by political figures. That's same everywhere. But the economic reason is that there is insufficient onshore processing. Once we see more in country processing those figures will drop. We can see this with Segilola Gold in Ilesha

For Lithium - coming on stream are the following:
Kaduna- Niger border $600 million plant. Abuja $200 million plant. Two more plants will come up in Nassarawa by Q3 2025. This will produ e hundreds of thousands of tonnes far surpassing illegal mining and providing a legal outlet for even artisianal mining

This is how to handle artisianal mining and raw form smuggling.

Bashing the government is fine, even good. But it must be done with logic and data else it lacks the credibility to effect any change.


Ghana loses 2.5% of GDP with "just" a $2bn "loss"

The first part of your argument is devoid of logic and commonsense.

First off, where did you get a gdp of $500bn for Nigeria?

Second, gdp's have a cummulative economic determination over a specific period. Nigeria does not earn (income approach to gdp) or spend (expenditure approach) $500b annually, so your rational of calculating a one year loss as against something determined over time is odd, to put it politely.

Second, a $9bn loss yearly is nothing to frown at. You might claim it is potential, so what is the real loss?

What baffles me is when a simple comment about government incompetence or inefficiencies, especially as it concerns apc or bat, gets people like you hot at the seams.

Like what is your grouse in pointing out obvious lapses in governance? Is it now an aberration to talk about how the present socio-economic conditions are negatively affecting the masses?

If you feel the government is doing well enough for you, then you can air your view independently on the thread without seeking to join issues with my own opinion.

Until those projects/investments come on stream, they remain non-factors in the reality of the failings of government.