NNPC Remits N1.118 Trillion Into Federation Account In One Year - Politics (2)

NNPC Remits N1.118 Trillion Into Federation Account In One Year - Politics (2) - Nairaland

Nairaland Forum › Nairaland General › Politics › NNPC Remits N1.118 Trillion Into Federation Account In One Year (9893 Views)

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Re: NNPC Remits N1.118 Trillion Into Federation Account In One Year by Nusaf: 8:09am On May 09, 2016

wordbank:
Trash!
NLNG, Shell, NNPC and other companies remits huge amount of money into the federation's account yet Mr. President borrow. How can you explain this to the common man

By the time u finish explaining why ur hero borrowed when more than triple of that amount was remitted to the federation account, the explanation will be clear to the common man.

Re: NNPC Remits N1.118 Trillion Into Federation Account In One Year by rusher14: 8:13am On May 09, 2016

LadyExcellency:
Who do we believe?

http://www.dailytrust.com.ng/news/business/nnpc-made-no-dollar-remittance-to-federation-account-for-8-months/126896.html

This is updated news but you could prefer old news.

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Re: NNPC Remits N1.118 Trillion Into Federation Account In One Year by hensben(m): 8:32am On May 09, 2016

Father mbaka prophesied it that in the beginning of buhari led administration things will not be easy but Nigerians will smile in the end.

Re: NNPC Remits N1.118 Trillion Into Federation Account In One Year by yaki84: 8:37am On May 09, 2016

Quakertellicus1:
The money we have at hand it still not enough.

Yes...it is good NNPC is remitting N1.18 trillion. But our budget is just N8 trillion. We need far more money than that.

That is why we have to stop relying on oil....and start relying on scientific innovation and development.

And that is why corruption is wrong. Because...we cannot afford people stealing our money.

8 trillion? how, when, who did it?

Re: NNPC Remits N1.118 Trillion Into Federation Account In One Year by amtaken(f): 9:20am On May 09, 2016

Dr. Ibe Kachikwu and his team have done well but will Buhari use the remitted money wisely or he will use part of it for his bogus overseas travel expenses and the other part for Zhara and her siblings expensive school fees and other domestic expenditures?

Na look I dey look.

Re: NNPC Remits N1.118 Trillion Into Federation Account In One Year by Gordieshegz(m): 9:39am On May 09, 2016

Quakertellicus1:
The money we have at hand it still not enough.

Yes...it is good NNPC is remitting N1.18 trillion. But our budget is just N8 trillion. We need far more money than that.

That is why we have to stop relying on oil....and start relying on scientific innovation and development.

And that is why corruption is wrong. Because...we cannot afford people stealing our money.

6.16trillion naira or so....
not 8 trillion naira as you wrote..
goodmorning

Re: NNPC Remits N1.118 Trillion Into Federation Account In One Year by alt3r3g0: 9:44am On May 09, 2016

We need more transparency. They should also start publishing how much was allocated to each state so we know who to hold responsible.

Re: NNPC Remits N1.118 Trillion Into Federation Account In One Year by rolchi(m): 9:47am On May 09, 2016

amtaken:
Dr. Ibe Kachikwu and his team have done well but will Buhari use the remitted money wisely or he will use part of it for his bogus overseas travel expenses and the other part for Zhara and her siblings expensive school fees and other domestic expenditures?

Na look I dey look.

No, Dr. Ibe Kachukwu has not done well. The NNPC is simply not spending! They are holding back tons of money from legal JV deals. They are refusing to pay contractors with genuine business transactions with them. In fact, they are owing so many innocent Nigerians who have done one job or the other are currently being frustrated due to their non-payment of contractual fees. He should pay up and stop playing to the gallery!

Re: NNPC Remits N1.118 Trillion Into Federation Account In One Year by pafra(m): 9:52am On May 09, 2016

wordbank postrevenue13: Trash!
NLNG, Shell, NNPC and other companies remits huge amount of money into the federation's account yet Mr. President borrow. How can you explain this to the common man

This amount is part of the revanue anticipated which was already in thebudget projection.
Elementary economic

Re: NNPC Remits N1.118 Trillion Into Federation Account In One Year by sammhi(m): 10:03am On May 09, 2016

it is only olodos that will rejoice at such half baked news..this news has no content...
what is the expected? did it meet it? what revenue accrued to the NNPc at that period ? what percentage of this remittance is the actual revenue ?
until these queries are captured in the news , it is useless news..and actually, 1trn in one year is a small money ..that means about 100bn per month..too small really for a country of 170m

Re: NNPC Remits N1.118 Trillion Into Federation Account In One Year by Nusaf: 10:35am On May 09, 2016

sammhi:
it is only olodos that will rejoice at such half baked news..this news has no content...
what is the expected? did it meet it? what revenue accrued to the NNPc at that period ? what percentage of this remittance is the actual revenue ?
until these queries are captured in the news , it is useless news..and actually, 1trn in one year is a small money ..that means about 100bn per month..too small really for a country of 170m

Whether it is sufficient or not is not the issue here. What is important now is that there is transparency which is lacking in the previous administration. A case in point is the allegation of unremitted 20 billion dollars by the NNPC in that administration. Meanwhile, I wonder why all these analyses were absent during GEJ administration. Or could it be deliberate?

Re: NNPC Remits N1.118 Trillion Into Federation Account In One Year by Kenobus: 10:37am On May 09, 2016

Frank3n2:
Buhari is working!! Hope they utilize the money for the poor masses... Let it not end up in the pocket of few men..

working where? My friend just cool off. He has nothing to give. Common fuel scarcity he cannot solve.

Re: NNPC Remits N1.118 Trillion Into Federation Account In One Year by Kenobus: 10:38am On May 09, 2016

Nusaf:
By the time u finish explaining why ur hero borrowed when more than triple of that amount was remitted to the federation account, the explanation will be clear to the common man.

It is really TRASH!

Re: NNPC Remits N1.118 Trillion Into Federation Account In One Year by Nobody: 10:38am On May 09, 2016

Gordieshegz:
6.16trillion naira or so....
not 8 trillion naira as you wrote..
goodmorning

Thanks......it even makes the matter of our lack of money more glaring.

Relying on just oil...or agric....or even mining is not going to earn us much money. Innovation....innovation....that is the answer.

Re: NNPC Remits N1.118 Trillion Into Federation Account In One Year by Nusaf: 10:49am On May 09, 2016

Kenobus:
It is really TRASH!

Why not explain? Do u know the difference between human beings and lesser animals? REASONING.

Re: NNPC Remits N1.118 Trillion Into Federation Account In One Year by NOETHNICITY(m): 11:02am On May 09, 2016

LadyExcellency:
Who do we believe?

http://www.dailytrust.com.ng/news/business/nnpc-made-no-dollar-remittance-to-federation-account-for-8-months/126896.html

Read both stories and chose which to believe! That's why u ve faculty!

Re: NNPC Remits N1.118 Trillion Into Federation Account In One Year by myhotbrain: 11:15am On May 09, 2016

wordbank:
Trash!
NLNG, Shell, NNPC and other companies remits huge amount of money into the federation's account yet Mr. President borrow. How can you explain this to the common man

HELLO COMMON MAN,
EVEN IF THE FGN MADE $10B FROM CRUDE OIL SALE IN ONE YEAR, IT"S STILL NOT ENOUGH TO PAY FOR ALL OF INFRASTRUCTURAL DEVELOPMENT NIGERIA NEEDS ASAP.

1. AS AN EXAMPLE, NIGERIA NEEDS TO DEVELOP/BUILD 3 REFINERIES WHICH WILL COST $21B AND THAT'S WHY THE FGN SIGNED FINANCE AGREEMENT WITH THE BIGGEST LENDER IN CHINA USING A CHINESE COMPANY TO BUILD THESE REFINERIES IN BAYELSA, KOGI AND LAGOS. PLEASE NOTE, DANGOTE IS USING ABOUT $13B TO BUILD HIS OWN REFINERY.

2. NIGERIA OR ANY SUCCESSFUL COMPANY WHICH DESIRE TO DEVELOP CANNOT USE ALL OF ITS OWN MONEY FOR THAT DEVELOPMENT, THERE HAS TO BE DEBT INCURRED SO THAT SOME CASH CAN BE SAVED FOR RAINY DAYS OR OTHER AREAS OF DEVELOPMENT/OPERATIONS. SO IT MAKES SENSE THAT GOVERNMENT USES EQUITY/DEBT MODEL FINANCING FOR CASH INTENSIVE PROJECTS.

3. THE RATE AT WHICH THE CHINESE BANK IS LENDING TO NIGERIA IS MUCH LOWER THAN IF GOVERNMENT IS TO BORROW FROM NON-CHINESE SOURCES. (GENERAL ASSUMPTION)

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Re: NNPC Remits N1.118 Trillion Into Federation Account In One Year by Meritocracy: 11:25am On May 09, 2016

Bassee:
Lol.Lol.

I believe this anyway. 1.1 trillion and the President is still junketing begging for alms?

He should continue to beg, the annual oil revenue is still small compare to 6 Trillion budget.

Re: NNPC Remits N1.118 Trillion Into Federation Account In One Year by amtaken(f): 12:32pm On May 09, 2016

Are you serious? Am so tired of this propaganda government.

Everything about them is a sham.

rolchi:
No, Dr. Ibe Kachukwu has not done well. The NNPC is simply not spending! They are holding back tons of money from legal JV deals. They are refusing to pay contractors with genuine business transactions with them. In fact, they are owing so many innocent Nigerians who have done one job or the other are currently being frustrated due to their non-payment of contractual fees. He should pay up and stop playing to the gallery!

Re: NNPC Remits N1.118 Trillion Into Federation Account In One Year by Lawcurrent(m): 1:17pm On May 09, 2016

and buhari jux signed the budget, which way my brother. am sure God will definitely see us through

1 2 Reply

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