₦airaland Forum

DomPerignon:
Try and think before you post anything here.

Nigeria operates joint ventures with oil companies that do the actual drilling .

The JV has a 60:40 sharing formula between FG and oil firms.

Let’s say FG took 60%, that’s still about $9.2bn.

Sheuns:
Let’s say FG took 60%, that’s still about $9.2bn.

And you think there are no associated cost in production, reinvestments and financing ?

Go sleep abeg

Of course Lagos leads

Validated:
There is no need deceiving yourselves and think you are deceiving Nigerians. We have intelligent Nigerians who do not take statistics and narratives on the surface.

So, lets do the maths:
Assuming that the exchange rate is N1500 to the $, then we have received equivalent of $13.7B (N20.59T)
Of this amount, non-oil export accounted for $10.4B or N15.6 T, according to Tinubu and lieing APC government.

It therefore means that oil export accounted for $3.3B revenue in the last 8 months. A BIG FAT LIE

Every Nigerian knows that we export crude daily and our average production is 1.6 million barrels a day, (that is we export 1.7 to 1.8 million barrels per day (bpd). Also, we know that the average price for WTI crude oil in the first seven months of 2025 was $68.25 per barrel, while the average for Brent crude oil for the year is estimated to be around $80.53..

For the purpose of this analysis, we assume the following:
Average daily oil production and sale = 1.6m barrels
No. of days of oil production YTD: 8months * 25 days = 200 days
Estimated production and sales YTD = 1.6million barrels * 200 days = 320,000,000 barrels
Then, since we sell at $70 per barrel, then our OIL REVENUE FOR 2025 WILL BE 320,000,000 BARRELS * $70 = $22,400,000,000 (Twenty two Billion, Four Hundred Million Dollars)

When we translate this to Naira at the exchange rate of N1500 to the USD, you have N33.6 Trillion,
The questions are:
i. How did FG get their N20.6 Trillion, when estimated oil revenue alone is N33.6T?
ii. If non-oil revenue is truly N15.69 Trillion or $10.5B, then the only revenue estimated from oil sales is N4.9T or $3.3B.

This government has to tell Nigerians where the difference of $30.3Billion went to as that revenue is MISSING

Your calculations and assumptions about crude oil are interesting

Crude oil is not free
It costs money to bring out of the ground
Also the oil companies that do the work are not charities
That means Nigeria does not keep all the revenue
Nigeria does not even keep all the profit
Nigerian Upstream Petroleum Regulatory Commission (NUPRC reported in February that it costs $40 to produce a barrel of oil


Fact check me
The oil production is done in a Joint venture structure

NNPC owns 55% in the JV with SHELL And 60% in other major JVs

That means NNPC has to pay 55 to 60 % of that production cost of $25 to 40
So called cash call

NNPC almost never pays ,the JV lends NNPC the money at interest and then they share what is left of the. PROFIT at the stated formula

After they have shared the. Profit

NNPC would still make its own deduction before it remits anything to the government


Based on the foregoing people can conclude How much profit there is when Nigeria sells a barrel of oil for $65 And how much of that the oil companies take
How much leaks through NNPC and how much gets to the government
We would be very lucky indeed to see $10 on a barrel of oil
Your estimated government revenue is over generous

Revenue does not equal profit

Based on your assumption of 1.6 million barrels and profit of $10

That is about 5.76 trillion naira

Many Nigerians have an inflated opinion on the contribution of oil

Validated:
There is no need deceiving yourselves and think you are deceiving Nigerians. We have intelligent Nigerians who do not take statistics and narratives on the surface.

So, lets do the maths:
Assuming that the exchange rate is N1500 to the $, then we have received equivalent of $13.7B (N20.59T)
Of this amount, non-oil export accounted for $10.4B or N15.6 T, according to Tinubu and lieing APC government.

It therefore means that oil export accounted for $3.3B revenue in the last 8 months. A BIG FAT LIE

Every Nigerian knows that we export crude daily and our average production is 1.6 million barrels a day, (that is we export 1.7 to 1.8 million barrels per day (bpd). Also, we know that the average price for WTI crude oil in the first seven months of 2025 was $68.25 per barrel, while the average for Brent crude oil for the year is estimated to be around $80.53.. Lol! you directly calculated 1.6m barrels by $70 to get expected revenue? Won't you remove the cost of

For the purpose of this analysis, we assume the following:
Average daily oil production and sale = 1.6m barrels
No. of days of oil production YTD: 8months * 25 days = 200 days
Estimated production and sales YTD = 1.6million barrels * 200 days = 320,000,000 barrels
Then, since we sell at $70 per barrel, then our OIL REVENUE FOR 2025 WILL BE 320,000,000 BARRELS * $70 = $22,400,000,000 (Twenty two Billion, Four Hundred Million Dollars)

When we translate this to Naira at the exchange rate of N1500 to the USD, you have N33.6 Trillion,
The questions are:
i. How did FG get their N20.6 Trillion, when estimated oil revenue alone is N33.6T?
ii. If non-oil revenue is truly N15.69 Trillion or $10.5B, then the only revenue estimated from oil sales is N4.9T or $3.3B.

This government has to tell Nigerians where the difference of $30.3Billion went to as that revenue is MISSING

Bro! you calculated oil revenues by multiplying 1.6millon barrels by $70 dollars, how? aren't you suppose to deduct cost of production?

Tetrahedron:
How is that possible, but it’s good because it means we are gradually weaning ourselves from the cheap but volatile energy sector

Until Tinubu kill you with tax before you will know it is possible. What do you think is the cause of this inflation?

DomPerignon:
And you think there are no associated cost in production, reinvestments and financing ?

Go sleep abeg

if you say it is JV, is it FG that did the production investment and financing?

Validated:
There is no need deceiving yourselves and think you are deceiving Nigerians. We have intelligent Nigerians who do not take statistics and narratives on the surface.

So, lets do the maths:
Assuming that the exchange rate is N1500 to the $, then we have received equivalent of $13.7B (N20.59T)
Of this amount, non-oil export accounted for $10.4B or N15.6 T, according to Tinubu and lieing APC government.

It therefore means that oil export accounted for $3.3B revenue in the last 8 months. A BIG FAT LIE

Every Nigerian knows that we export crude daily and our average production is 1.6 million barrels a day, (that is we export 1.7 to 1.8 million barrels per day (bpd). Also, we know that the average price for WTI crude oil in the first seven months of 2025 was $68.25 per barrel, while the average for Brent crude oil for the year is estimated to be around $80.53..

For the purpose of this analysis, we assume the following:
Average daily oil production and sale = 1.6m barrels
No. of days of oil production YTD: 8months * 25 days = 200 days
Estimated production and sales YTD = 1.6million barrels * 200 days = 320,000,000 barrels
Then, since we sell at $70 per barrel, then our OIL REVENUE FOR 2025 WILL BE 320,000,000 BARRELS * $70 = $22,400,000,000 (Twenty two Billion, Four Hundred Million Dollars)

When we translate this to Naira at the exchange rate of N1500 to the USD, you have N33.6 Trillion,
The questions are:
i. How did FG get their N20.6 Trillion, when estimated oil revenue alone is N33.6T?
ii. If non-oil revenue is truly N15.69 Trillion or $10.5B, then the only revenue estimated from oil sales is N4.9T or $3.3B.

This government has to tell Nigerians where the difference of $30.3Billion went to as that revenue is MISSING

It cost $48 dollars to produce 1 barrel of crude oil in Nigeria. Crude selling at $70 per barrel now at international market means only $22 dollars profit is available per barrel and that will still be shared between the government and the oil companies.
Hope it is cleared to you now..

Validated:
There is no need deceiving yourselves and think you are deceiving Nigerians. We have intelligent Nigerians who do not take statistics and narratives on the surface.

So, lets do the maths:
Assuming that the exchange rate is N1500 to the $, then we have received equivalent of $13.7B (N20.59T)
Of this amount, non-oil export accounted for $10.4B or N15.6 T, according to Tinubu and lieing APC government.

It therefore means that oil export accounted for $3.3B revenue in the last 8 months. A BIG FAT LIE

Every Nigerian knows that we export crude daily and our average production is 1.6 million barrels a day, (that is we export 1.7 to 1.8 million barrels per day (bpd). Also, we know that the average price for WTI crude oil in the first seven months of 2025 was $68.25 per barrel, while the average for Brent crude oil for the year is estimated to be around $80.53..

For the purpose of this analysis, we assume the following:
Average daily oil production and sale = 1.6m barrels
No. of days of oil production YTD: 8months * 25 days = 200 days
Estimated production and sales YTD = 1.6million barrels * 200 days = 320,000,000 barrels
Then, since we sell at $70 per barrel, then our OIL REVENUE FOR 2025 WILL BE 320,000,000 BARRELS * $70 = $22,400,000,000 (Twenty two Billion, Four Hundred Million Dollars)

When we translate this to Naira at the exchange rate of N1500 to the USD, you have N33.6 Trillion,
The questions are:
i. How did FG get their N20.6 Trillion, when estimated oil revenue alone is N33.6T?
ii. If non-oil revenue is truly N15.69 Trillion or $10.5B, then the only revenue estimated from oil sales is N4.9T or $3.3B.

This government has to tell Nigerians where the difference of $30.3Billion went to as that revenue is MISSING

I really like your analysis, but you don't have access to government books to determine the amount of non-oil revenue and oil revenue.
Mind you production may not be equal sales revenue where customers have deposited fund and have not been supplied

Baawaa:
Tinubu will use all these monies for election come 2027,

So nah 15 trillion dem go spend on election??

How much is the whole country budget for a year

U guys are funny 🤣

Validated:
There is no need deceiving yourselves and think you are deceiving Nigerians. We have intelligent Nigerians who do not take statistics and narratives on the surface.

So, lets do the maths:
Assuming that the exchange rate is N1500 to the $, then we have received equivalent of $13.7B (N20.59T)
Of this amount, non-oil export accounted for $10.4B or N15.6 T, according to Tinubu and lieing APC government.

It therefore means that oil export accounted for $3.3B revenue in the last 8 months. A BIG FAT LIE

Every Nigerian knows that we export crude daily and our average production is 1.6 million barrels a day, (that is we export 1.7 to 1.8 million barrels per day (bpd). Also, we know that the average price for WTI crude oil in the first seven months of 2025 was $68.25 per barrel, while the average for Brent crude oil for the year is estimated to be around $80.53..

For the purpose of this analysis, we assume the following:
Average daily oil production and sale = 1.6m barrels
No. of days of oil production YTD: 8months * 25 days = 200 days
Estimated production and sales YTD = 1.6million barrels * 200 days = 320,000,000 barrels
Then, since we sell at $70 per barrel, then our OIL REVENUE FOR 2025 WILL BE 320,000,000 BARRELS * $70 = $22,400,000,000 (Twenty two Billion, Four Hundred Million Dollars)

When we translate this to Naira at the exchange rate of N1500 to the USD, you have N33.6 Trillion,
The questions are:
i. How did FG get their N20.6 Trillion, when estimated oil revenue alone is N33.6T?
ii. If non-oil revenue is truly N15.69 Trillion or $10.5B, then the only revenue estimated from oil sales is N4.9T or $3.3B.

This government has to tell Nigerians where the difference of $30.3Billion went to as that revenue is MISSING

Nnpc boss go just dy look u dey laugh 🤣 for where he dey. ..u be real economic...no joke

This is the kind of news that gives some people headache.

onanuga should never be taken seriously. He is the chief propagandist of this government.

Validated:
There is no need deceiving yourselves and think you are deceiving Nigerians. We have intelligent Nigerians who do not take statistics and narratives on the surface.

So, lets do the maths:
Assuming that the exchange rate is N1500 to the $, then we have received equivalent of $13.7B (N20.59T)
Of this amount, non-oil export accounted for $10.4B or N15.6 T, according to Tinubu and lieing APC government.

It therefore means that oil export accounted for $3.3B revenue in the last 8 months. A BIG FAT LIE

Every Nigerian knows that we export crude daily and our average production is 1.6 million barrels a day, (that is we export 1.7 to 1.8 million barrels per day (bpd). Also, we know that the average price for WTI crude oil in the first seven months of 2025 was $68.25 per barrel, while the average for Brent crude oil for the year is estimated to be around $80.53..

For the purpose of this analysis, we assume the following:
Average daily oil production and sale = 1.6m barrels
No. of days of oil production YTD: 8months * 25 days = 200 days
Estimated production and sales YTD = 1.6million barrels * 200 days = 320,000,000 barrels
Then, since we sell at $70 per barrel, then our OIL REVENUE FOR 2025 WILL BE 320,000,000 BARRELS * $70 = $22,400,000,000 (Twenty two Billion, Four Hundred Million Dollars)

When we translate this to Naira at the exchange rate of N1500 to the USD, you have N33.6 Trillion,
The questions are:
i. How did FG get their N20.6 Trillion, when estimated oil revenue alone is N33.6T?
ii. If non-oil revenue is truly N15.69 Trillion or $10.5B, then the only revenue estimated from oil sales is N4.9T or $3.3B.

This government has to tell Nigerians where the difference of $30.3Billion went to as that revenue is MISSING

Oga,50% of our oil earnings goes to the oil firms through joint ventures

With this and others dem still dey borrow.

Who go believe this one?

They think all our brains are dead.

My prayer is that one day, one confirmed werey, who has the people at heart will takeover the government. Then, every shishi stolen by these wicked thieves will be taken from them to the last Kobo.

Calculate your salary and official entitlement as a governor, subtract the money and asset you declared, the rest is the loot you stole from the people

The key takeaway is that Lagos is feeding Nigeria

Last year VAT alone from Lagos state was 2.75 trillion more than half of NON import VAT

Distinct from company tax based on consumption in Lagos state

This does not include other revenue generated from Lagos state only VAT

The two ports in Lagos, the Free Trade zone and the airport generated 1.8 trillion naira in Customs duty

This is Customs duty only

Does not reflect revenue from Airport operations, port operations or taxes from companies in Lagos

FAAN collected ₦235.67 billion from Lagos airports in 2024, amounting to 65% of what the authority collected overall

For comparison, Mallam Aminu Kano International Airport (Kano) generated about ₦20.24 billion i


NPA collected over 800 Billion in Lagos state

Goodvibes007:
Finally. Nigeria has gotten itself an intellectual president.

Gbam!

Its such a shame Nigeria's just having such intellectual after over 20yrs of democracy!

Imagine having such in 1999.. Naija would've developed tremendously

Validated:
There is no need deceiving yourselves and think you are deceiving Nigerians. We have intelligent Nigerians who do not take statistics and narratives on the surface.

So, lets do the maths:
Assuming that the exchange rate is N1500 to the $, then we have received equivalent of $13.7B (N20.59T)
Of this amount, non-oil export accounted for $10.4B or N15.6 T, according to Tinubu and lieing APC government.

It therefore means that oil export accounted for $3.3B revenue in the last 8 months. A BIG FAT LIE

Every Nigerian knows that we export crude daily and our average production is 1.6 million barrels a day, (that is we export 1.7 to 1.8 million barrels per day (bpd). Also, we know that the average price for WTI crude oil in the first seven months of 2025 was $68.25 per barrel, while the average for Brent crude oil for the year is estimated to be around $80.53..

For the purpose of this analysis, we assume the following:
Average daily oil production and sale = 1.6m barrels
No. of days of oil production YTD: 8months * 25 days = 200 days
Estimated production and sales YTD = 1.6million barrels * 200 days = 320,000,000 barrels
Then, since we sell at $70 per barrel, then our OIL REVENUE FOR 2025 WILL BE 320,000,000 BARRELS * $70 = $22,400,000,000 (Twenty two Billion, Four Hundred Million Dollars)

When we translate this to Naira at the exchange rate of N1500 to the USD, you have N33.6 Trillion,
The questions are:
i. How did FG get their N20.6 Trillion, when estimated oil revenue alone is N33.6T?
ii. If non-oil revenue is truly N15.69 Trillion or $10.5B, then the only revenue estimated from oil sales is N4.9T or $3.3B.

This government has to tell Nigerians where the difference of $30.3Billion went to as that revenue is MISSING

Oga, stop writing rubbish! Our share of oil revenue is a percentage of not even the price but the profit! Therefore, if the price of crude is $70, then our share is price - cost of production - share profit of IOCs. Once again, stop writing rubbish! 😠

And yet our yoruba president keep on hunting for loans

CoolAmbience:
We are too lazy in this country.
No one would ask. It is quite a shame!

Where is the National Assembly? Where are the Civil Society Groups? Socio-economic crusaders? Opposition political parties?

What is going on in this country?

Akpabio has finished our legislature.

Are you not a Nigerian? You can institute an action under the FOI act and ask the government to publish details and you can go ahead and investigate. Hence the rest of us are too lazy and only you is hard working.