slimfit1:


So what if he is Igbo, he or she is asking a good question. Whatever profit those people got should have been used for commonwealth. We have no reason to sell oil well when we have NNPC.

The £1000000 flower kija spent on her agbaya son would have built lots of schools and hospitals. If she bought the flower in Nigeria it would have help alot of lazy youth or hard working youths.
you dont subcontract national resources its not done anywhere in the world.

fg owns 51% of her oil bloc, she pays 85% tax to govt, she settles d community o (even tho d oil bloc is offshore o), d state d oil bloc dey also gets 13% derivation. If only pple realise what really is going on ehn. Go to youtube and see as arabs dey flaunt oil money bt no one hates dem in der country cos govt is doing d right tin

hollandis:


I wish we had a jerry Rawlings in Nigeria

Useless response

Majority of Nigerians are mugu's-you should know by now,they always defend thieves.

ednut1:
fg owns 51% of her oil bloc, she pays 85% tax to govt, she settles d community o (even tho d oil bloc is offshore o), d state d oil bloc dey also gets 13% derivation. If only pple realise what really is going on ehn. Go to youtube and see as arabs dey flaunt oil money bt no one hates dem in der country cos govt is doing d right ti

Yeah it's just like saying she has 90 billion dollars and then 3 billion dollars is taken from her for tax and then she has 87 billion dolllars left
Who is deceiving who ?

cptfash:


yes u ar right but why is it dat na only tinubu,alakija,and otedola dat poster hollandis see with licence?wat abt his igbo brodas? wat abt other hausa/fulani wit licence? igbo fear hausa/fulani to death dat dey cant challenge them for any wrong did to them by northerner instead igbo will blame yoruba for it,meanwhile d duo were d best of conspirators from time preceedin independency wen ezeougwu kaduna,ifeajuna,ironsi toppled democracy with their northern cronies in d army,Zik allied wit Balewa against Sage Awolowo.

I didn't mention other people with license because they are not influencing the political sphere in the country .

Why get the money though dubious ways and still want to be in politics still

Do you know the diffence between Kanu Nwankwo who got his money thorough a genuine way and this other cronies ?

hollandis:


Yeah it's just like saying she has 90 billion dollars and then 3 billion dollars is taken from her for tax and then she has 87 billion dolllars left
Who is deceiving who ?

is maths that hard Using ur figures.She has 90b , 87b is taken as tax and she keeps 3b. Mind u she spent money for.over 10 years before she struck oil o. She is a thief agreed. But is she d one we shud be bothered about or the person collecting 87b in 100 places

ednut1:
fg owns 51% of her oil bloc, she pays 85% tax to govt, she settles d community o (even tho d oil bloc is offshore o), d state d oil bloc dey also gets 13% derivation. If only pple realise what really is going on ehn. Go to youtube and see as arabs dey flaunt oil money bt no one hates dem in der country cos govt is doing d right tin

And how much are you getting for defending her ?

These people are working on the as,sw,se brain ,they post this hateful thread to cause acrimony among the southerners.

hollandis:
Pls what constitution ways can we use to to strip the oil license of those people who got the license through corrupt ways

Do u have any evidence to back your claim

slimfit1:


And how much are you getting for defending her ?

not defending her. Strip dem all of thier licence, would dat help u and i

ednut1:
not defending her. Strip dem all of thier licence, would dat help u and i

Yes millions as a matter of fact not only me

ednut1:
Every OML in nigeria is effectively owned by nigerian govt. Nnpc and its subsidiaries have at least 51% of each oil mining licence (OML). The remaining 49% is usually shared by oda companies. Oml is granted to companies for 5-20 years, with option for renewal. The main issue here is FG has over 100 oml which dey own 51%, and dey still get tax of 85% for joint venture/50% for production sharing contract. Yet there is poverty. May God punish our govt o. D oil block alakija owns today was rejected by the top oil companies, abeg Op y ur village pple no go apply for am She spent money for years before d tin blow, she still pay 85% tax on the 30 something percent she owns. Do u know how much adenuga spent in ondo before he hit oil Do u know how many oda spent millions of dollars and didnt hit any oil. If govt was doing its job no one go remember these guys. Are pple in dubai complaining about the few billionaires in dubai Nope cos govt is doing a good job. I pity the ND sha, i flew over d creeks in january almost all d rivers and land was polluted. No fish no farm land. Oil go finish one day

You get time to waste trying to educate lazy illiterate youths. They think owning and successfully operating an oil block is like a tout collecting money from bus drivers. Oil business is a highly risky business and I have known people who had lost all they had by venturing into oil business.

First of all to even know if there is oil in any given place, one would need to apply for an oil prospecting licence at millions of dollars, then one needs to bring in experts from abroad and rent sophisticated seismic equipments to start prospecting for the oil, costing millions of dollars per week. You might need to dig several Wells before striking oil in commercial quantity.

After striking oil, you go back to NNPC and DPR to apply for oil mining licence. This licence permits you to actually drill the oil. The licence also cost millions of dollars. You then rent a rig with its associated specialists costing another millions of dollars per week to begin the actual drilling. Please note that there are other myriads of problems from community issues to corrupt local and state government issues.
At the end of the day, the oil profit is shared between the government and the oil block owners or investors.
The risks can be mitigated if you have powerful foreign investors with technical knowhow and deep pockets.

The oil business almost ruin MKO Abiola.

wirinet:


You get time to waste trying to educate lazy illiterate youths. They think owning and successfully operating an oil block is like a tout collecting money from bus drivers. Oil business is a highly risky business and I have known people who had lost all they had by venturing into oil business.

First of all to even know if there is oil in any given place, one would need to apply for an oil prospecting licence at millions of dollars, then one needs to bring in experts from abroad and rent sophisticated seismic equipments to start prospecting for the oil, costing millions of dollars per week. You might need to dig several Wells before striking oil in commercial quantity.

After striking oil, you go back to NNPC and DPR to apply for oil mining licence. This licence permits you to actually drill the oil. The licence also cost millions of dollars. You then rent a rig with its associated specialists costing another millions of dollars per week to begin the actual drilling. Please note that there are other myriads of problems from community issues to corrupt local and state government issues.
At the end of the day, the oil profit is shared between the government and the oil block owners or investors.
The risks can be mitigated if you have powerful foreign investors with technical knowhow and deep pockets.

The oil business almost ruin MKO Abiola.

guy i tire o. After all d wahala u get taxed 85%. The whole thing is just funny and shitty abeg.

Let's do it

You will be sued in international courts and your assets stand the risk of being garnished

You entered into a contract with them under a ‘legitimate’ Nigerian government with her signatories endorsing it

Except if you can prove corruption in court. But the money is so large that they’ll bribe all the way to the supreme court