₦airaland Forum

Mavor:
And when we separate, who will have those territorial waters? Lol!

The more powerful entity
The one able to enforce ownership

Brendaniel:
Thank you for posting this, I was just about to address this aspect, If Nigeria earned 55 trillion from only crude oil sales alone then where did all the money go to?

The total earning of 2025, from tax, crude oil, gas and every revenue was 10 trillion.

it is either APC government headed by Tinubu have stolen most of the money or they have borrowed most of the earnings from the past through loans(including Buhari), if so, Nigeria is only getting only less than 10% of the 55 trillion because of bad governance...

How can 10 trillion be less than 10% of 55 trillion? What school do you go to? I want to check something.

A basic understanding of English would have shown you from the article that even the 10 trillion is a projection at the beginning of the year, and as of June of that year, we are already doing 14 trillion due to massive growth of non-oil revenue under this government. If that holds steady for the rest of the year, it means we could close the year with well above 30 trillion, which is closer to the 40 trillion the government projected at the beginning of the year.

What is important is that this government, despite increasing the total budget amount, has reduced the budget deficit by more than half compared to previous administrations. That shows an economy that is working and growing.

Gajagojo:
We?

Are you a shareholder in the refinery?

EVERY HARD CURRENCY EARNED BY ANY NIGERIAN OWN ENTERPRISE HELPS SHORE UP OUR COUNTRY Foreign currency earnings.have you seen the steady rise of the Naira of late.the daring move implemented president tinubu won't even last a single day before everything fall like a pack of cards without it.

Jayboiii:
EVERY HARD CURRENCY EARNED BY ANY NIGERIAN OWN ENTERPRISE HELPS SHORE UP OUR COUNTRY Foreign currency earnings.

That is an assumption

We want to see the impact of this on the standard of living of average Nigerians and not in the ugly hands of politicians

saintopus:
This is a whooping amount of money. So what did they do with so much money and still borrowing?

Your trillions of nairas are how much in dollars?
The title Nigeria earns is misleading because most there so-called earnings are done by foreign companies repatriating back home. In this case, Nigeria earns on paper but looses in Nigeria.

iwaeda:
How much did we borrowed in 2025?

The foreign products you consumed, are those imported with dollars or nairas?

Nextjs:
And how much did they borrowed under same year?


This is only for oil and not to talk about the non oil export.

Nigeria has no business borrowing money


But the criminals in powers

Nigeria have no business borrowing according you after seeing trillions of nairas forgetting ithe following:
1. Trillions of nairas up there is a product devaluation which means, more nairas, lesser purchasing power.
2. Nigeria is an import dependant economy which import with dollars not nairas, so the trillions of nairas up there is just decoration.
3. The so-called trillions of nairas earnings are done by foreign companies, they earn, Nigeria records it and they take the money back home while Nigerians themselves with foreign investors.

Dunamai86:
We want to see the impact of this on the standard of living of average Nigerians and not in the ugly hands of politicians

If you study economics in secondary school, you will know that trillions of naira is an economic disaster caused by inflation, in other words. The more trillions Nigeria claims to earn, the weaker the purchasing power of the naira and the poorer Nigerians become.

Gajagojo:
That is an assumption

A lot of highly educated Nigerians don't know this, you will see them celebrating the earnings of foreign investors while fighting against the same for local investors.

Gajagojo:
The more powerful entity
The one able to enforce ownership

Go and google how territorial water laws work before coming online to exhibit stupidity please. Powerful entity indeed. As if it is not who has the oil and gas feeding this nation that is the one with real power.

Brendaniel:
Thank you for posting this, I was just about to address this aspect, If Nigeria earned 55 trillion from only crude oil sales alone then where did all the money go to?

The total earning of 2025, from tax, crude oil, gas and every revenue was 10 trillion.

it is either APC government headed by Tinubu have stolen most of the money or they have borrowed most of the earnings from the past through loans(including Buhari), if so, Nigeria is only getting only less than 10% of the 55 trillion because of bad governance...

If anybody thinks that the government does not make more than that they are being deceived. I have people on the downstream and I know. If you know the level of crude loading being taken out of the country is even more than what is being announced.

Mavor:
Go and google how territorial water laws work before coming online to exhibit stupidity please. Powerful entity indeed. As if it is not who has the oil and gas feeding this nation that is the one with real power.

Googe does not determine territory guns do

You are getting emotional
Territorial waters are determined by bigger guns



That is why the United States maintains naval bases around the world e.g Guantanamo Bay in Cuba
That is why Trump is threatening Greenland
That is why Britain continues to hold the Falkland Islands
That is why Britain controls Gibraltar
That is why Spain controls the Canary Island

I can list 20 more examples
Go and drink water on these ones so they can digest
You can say you learnt something today

Oil and gas does not feed this nation
That is a delusion
How does oil and gas feed me ?

Lagos state contributes more to the money shared at the centre than the top 2 oil producing states combined

Gajagojo:
Googe does not determine territory guns do

You are getting emotional
Territorial waters are determined by bigger guns



That is why the United States maintains naval bases around the world e.g Guantanamo Bay in Cuba
That is why Trump is threatening Greenland
That is why Britain continues to hold the Falkland Islands
That is why Britain controls Gibraltar
That is why Spain controls the Canary Island

I can list 20 more examples
Go and drink water on these ones so they can digest
You can say you learnt something today

Oil and gas does not feed this nation
That is a delusion
How does oil and gas feed me ?

Lagos state contributes more to the money shared at the centre than the top 2 oil producing states combined

Lagos this and Lagos that. Why is the rest of your Yorubaland - Ibadan, Akure, Ife, etc not an exact replica of Lagos? When de-amalgamation happens and to your tent O' Israel happens. When the Northerners and their commerce go back to Arewa, Ibos and their commerce go back to Biafra, South South and their banks and commerce go back to South South, South South oil companies are forced to relocate all HQ back to South South, we will see what remain of precious Lagos. This drunkard think we South South will sit idly and allow another group from nowhere come and drill in our waters. No worry, we go soon know las las. No be by online cho cho cho.

With all this money right and left, the falling Master will still be borrowing money right and left.

Gajagojo:
That is an assumption

It's not..imagine we have 10 dangotes refinery what do u think would happen to our naira or foreign reserve ..it will be very tough to manipulate the naira and the value of the naira would increase.. that's basic economics.importation of refined petrol is one of the things depleting our foreign reserve we are not there yet but on course.

Jayboiii:
It's not..imagine we have 10 dangotes refinery what do u think would happen to our naira or foreign reserve ..it will be very tough to manipulate the naira and the value of the naira would increase.. that's basic economics.importation of refined petrol is one of the things depleting our foreign reserve we are not there yet but on course.

Who is this we you keep
Talking about

You are making assumptions
You have no clue how Dangote Refinery manages is foreign exchange
Without that information you are making assumptions

Mavor:
Lagos this and Lagos that. Why is the rest of your Yorubaland - Ibadan, Akure, Ife, etc not an exact replica of Lagos? When de-amalgamation happens and to your tent O' Israel happens. When the Northerners and their commerce go back to Arewa, Ibos and their commerce go back to Biafra, South South and their banks and commerce go back to South South, South South oil companies are forced to relocate all HQ back to South South, we will see what remain of precious Lagos. This drunkard think we South South will sit idly and allow another group from nowhere come and drill in our waters. No worry, we go soon know las las. No be by online cho cho cho.

What has that got to do with the discussion
You sound bitter and frustrated

Who is this that obviously doesn’t know the value of money- did I just read $55trillion? Go school , I ma no go gree!

Which Nigeria?
Why Not Put Straight, The Way It Is.
Tinubu And His Elite Politicians Earn Trillions Of Naira From Oil Revenue.

Because I Don't Know What They Have Been Doing With The Money From Nigeria Oil Sector And Other Revenue Source.

loffyloffy:
How can 10 trillion be less than 10% of 55 trillion? What school do you go to? I want to check something.

A basic understanding of English would have shown you from the article that even the 10 trillion is a projection at the beginning of the year, and as of June of that year, we are already doing 14 trillion due to massive growth of non-oil revenue under this government. If that holds steady for the rest of the year, it means we could close the year with well above 30 trillion, which is closer to the 40 trillion the government projected at the beginning of the year.

What is important is that this government, despite increasing the total budget amount, has reduced the budget deficit by more than half compared to previous administrations. That shows an economy that is working and growing.

I think you are the one whose school should be questioned, go back and get the details of everything you are actually talking about here before coming back to discuss here, because it is either you lack a whole of information about the matter or you just ignorantly twisted the information based on lack of understanding or you just simply want to be mischievous with information...

Brendaniel:
Thank you for posting this, I was just about to address this aspect, If Nigeria earned 55 trillion from only crude oil sales alone then where did all the money go to?

The total earning of 2025, from tax, crude oil, gas and every revenue was 10 trillion.

it is either APC government headed by Tinubu have stolen most of the money or they have borrowed most of the earnings from the past through loans(including Buhari), if so, Nigeria is only getting only less than 10% of the 55 trillion because of bad governance...

Nigeria only keeps about half of crude proceeds due to joint venture, so if an average of 55 trillion naira sales of crude oil, it only gets about 30 trillion. and then FG only keeps about half of that 30 thrillion for its budget, as it shares the remainder to state and local government. so it is left with about 15 thrillion from 55 thrillion.

Yet still leaving like animals in the jungle

emiye:
Nigeria only keeps about half of crude proceeds due to joint venture, so if an average of 55 trillion naira sales of crude oil, it only gets about 30 trillion. and then FG only keeps about half of that 30 thrillion for its budget, as it shares the remainder to state and local government. so it is left with about 15 thrillion from 55 thrillion.

You don't get it, do you?

The minister for finance said Nigeria only made 10 trillion in total revenue not just crude oil alone, from tax, gas and every other sources, so the crude oil cannot be 10 trillion, it is either 5 trillion, so where did about 50 trillion go to ?

saintopus:
This is a whooping amount of money. So what did they do with so much money and still borrowing?

Cc:dre11

This is the kind of lazy journalism that spreads misinformation amongst the populace.

1: this figure is total sales. When a car dealer sells a car, the price of the car is not his profit or earnings. When the restaurant sells you a plate of Amala and EWEDU, the price is not her profit .
2: cost of production is between $30 and $40
3: our crude oil production occurs under JV arrangements. The most Nigeria has in any production is 60%

So if you want to know how much we truly earned from crude, deduct cost of production and multiply by our average share in the production wells.

E.G for every barrel of oil sold at $65

What comes to the govt is sale price - production cost x equity stake in JV. ($65-$35) x 60% = approx $18

So when they tell you Nigeria earned N55trillion, the true figure is more like N15Trillion. Now let’s not forget that a significant portion of our current and future production has been forward sold, meaning the last administration has already collected money in advance for some of our current and future crude, so the reality is what Nigeria truly earned in 2025 is probably closer to N10Trillion

Gboss247:
If you study economics in secondary school, you will know that trillions of naira is an economic disaster caused by inflation, in other words. The more trillions Nigeria claims to earn, the weaker the purchasing power of the naira and the poorer Nigerians become.

Points can be made without subtle jibes . The issue is whatever macroeconomics at play here is not reflecting on the standard of living of Nigerians. That is a salient and undeniable fact.

Gboss247:
Nigeria have no business borrowing according you after seeing trillions of nairas forgetting ithe following:
1. Trillions of nairas up there is a product devaluation which means, more nairas, lesser purchasing power.
2. Nigeria is an import dependant economy which import with dollars not nairas, so the trillions of nairas up there is just decoration.
3. The so-called trillions of nairas earnings are done by foreign companies, they earn, Nigeria records it and they take the money back home while Nigerians themselves with foreign investors.

They said Nigerian government earn 55 trillion naira mast year on just oil alone. They have not talked about non oil export, they have not talked about earnings from taxes of non oil product, earning from taxes on imported goods n services like cars etc, earnings by customs, FIRS, etc.

Budget of last year was 54 trillion naira and only oil covers 99.9% of that.

2025 Nigeria non oil export was $6.1 billion or that's about 9 trillion naira.
2025 Revenue generated by custom was ₦7.28 trillion
2025 federal inland revenue services was ₦22.59 trillion

Let's stop there n go no further like money from banks, all those taxes on value added etc

Brendaniel:
You don't get it, do you?

The minister for finance said Nigeria only made 10 trillion in total revenue not just crude oil alone, from tax, gas and every other sources, so the crude oil cannot be 10 trillion, it is either 5 trillion, so where did about 50 trillion go to ?

If you are going to make such wide assertion, provide a news reference. That is not a possibility, even customs alone made over 7 trillion naira, when you factor FIRS, NNPC& subsidiaries e.t.c that . I see or heard no news of the finance minister saying that. It seems people forget everytime that revenue allocation of income , means federal govt keeps 52%, meaning about 48% of the total income is shared to the lower tiers of government . I have seen one Bauchi senator speak like a market woman about govt income and budget and i wonder how that kind of person contributes smartly to the Senate. What FG shares to states and local government is not included in the FG budget.

If goverment total income is 80 thrillion, it can only keep about 40 thrillion, if it has a budget of 55 thrillion, it may need about 15 thrillion borrowing to service the budget.

emiye:
If you are going to make such wide assertion, provide a news reference. That is not a possibility, even customs alone made over 7 trillion naira, when you factor FIRS, NNPC& subsidiaries e.t.c that . I see or heard no news of the finance minister saying that. It seems people forget everytime that revenue allocation of income , means federal govt keeps 52%, meaning about 48% of the total income is shared to the lower tiers of government . I have seen one Bauchi senator speak like a market woman about govt income and budget and i wonder how that kind of person contributes smartly to the Senate. What FG shares to states and local government is not included in the FG budget.

If goverment total income is 80 thrillion, it can only keep about 40 thrillion, if it has a budget of 55 thrillion, it may need about 15 thrillion borrowing to service the budget.

Una go just dey argue anyhow...

Nextjs:
They said Nigerian government earn 55 trillion naira mast year on just oil alone. They have not talked about non oil export, they have not talked about earnings from taxes of non oil product, earning from taxes on imported goods n services like cars etc, earnings by customs, FIRS, etc.

Budget of last year was 54 trillion naira and only oil covers 99.9% of that.

2025 Nigeria non oil export was $6.1 billion or that's about 9 trillion naira.
2025 Revenue generated by custom was ₦7.28 trillion
2025 federal inland revenue services was ₦22.59 trillion

Let's stop there n go no further like money from banks, all those taxes on value added etc

I have said it before and I will say it again, the trillions of nairas you are taking about are products of naira devaluation, purchasing power reducing and further if Nigerians. Quoting revenue generated from in trillions of nairas is a secret of announcing the draconian polices of the government oppressing Nigerians.
The survival Nigerian is dependant on World Bank, IMF, chinaEximbank, Afreximbanks dollar loans. This loans are what powered the importation done by Nigeria and the profits repatriated by foreign investors back home.
The $6.1 billion non-oil exports is not what a country of 230 million people with majority been young adults should be celebrating in 2026.
We all know that Nigerian economy depends on importation for survival but they have refused to release the 2026 non-oil imports by because they know that they deceiving the masses.