Was just going through the web and I saw reference to former president Jonathan regime of how we had 4.9 trillion naira for 2014 annual budget but over 77B USD as the annual oil sale for the year and the budget equivalent at the time was a little above 30B USD.


so my question is are we utilizing all our oil revenue for budget or what will have happened to the remaining amount that is not reflecting in the budget.

Cc :
lalasticlala
loannes

naija matter weak me sef!

nnpc don't remit all revenues.
foreign imperialist oil companies are pumping our oil and taking some away with out paying for it in other words straight up theft of our crude.
foreign oil companies are paid approx 50% of revenue realised from our crude sales.

when I say that we will never progress until we break our exploitative ties with white man, Nigerians seem not to take it seriously

shegzhkn:
Was just going through the web and I saw reference to former president Jonathan regime of how we had 4.9 trillion naira for 2014 annual budget but over 77B USD as the annual oil sale for the year and the budget equivalent at the time was a little above 30B USD.


so my question is are we utilizing all our oil revenue for budget or what will have happened to the remaining amount that is not reflecting in the budget.

Cc :
lalasticlala
loannes

GenBuhari:
naija matter weak me sef!

nnpc don't remit all revenues.
foreign imperialist oil companies are pumping our oil and taking some away with out paying for it in other words straight up theft of our crude.
foreign oil companies are paid 6
approx 50% of revenue realised from our crude sales.

when I say that we will never progress until we break our exploitative ties with white man, Nigerians seem not to take it seriously

General so what you mean is that the difference between amount of oil sale and government annual expenditure is what the west are taking away from us..

I guess you mean companies like royal Dutch shell , chevron, Exxon Mobil right.

shegzhkn:
Was just going through the web and I saw reference to former president Jonathan regime of how we had 4.9 trillion naira for 2014 annual budget but over 77B USD as the annual oil sale for the year and the budget equivalent at the time was a little above 30B USD.


so my question is are we utilizing all our oil revenue for budget or what will have happened to the remaining amount that is not reflecting in the budget.

Cc :
lalasticlala
loannes

during GEJ we were selling oil at 100 above but once we get the dollars the government goes to cbn to convert it into naira, during that time the exchange rate was merely 155. Today during buhari the exchange is 305 or 360. So the oil renue gotten in naira is far more than during GEJ

me69:
during GEJ we were selling oil at 100 above but once we get the dollars the government goes to cbn to convert it into naira, during that time the exchange rate was merely 155. Today during buhari the exchange is 305 or 360. So the oil renue gotten in naira is far more than during GEJ

barbar shop analysis

bluke:


barbar shop analysis

blind followship will not allow you to understand this analysis anyway. IT IS THE TRUTH DON'T DECEIVE YOURSELF

correct! and also embezzlement by corrupt officials and politicians many of which have been indirectly installed by the same imperialist white nations.

shegzhkn:



General so what you mean is that the difference between amount of oil sale and government annual expenditure is what the west are taking away from us..

I guess you mean companies like royal Dutch shell , chevron, Exxon Mobil right.

me69:
blind followship will not allow you to understand this analysis anyway. IT IS THE TRUTH DON'T DECEIVE YOURSELF

you got paid in dollars which still has its value. 1dollar-150naira, now it 1dollar-360naira.
its called devaluation.

bluke:



you got paid in dollars which still has its value. 1dollar-150naira, now it 1dollar-360naira.
its called devaluation.

wat I'm tellin you is that the FG takes to dollars received from crude and sells it to the cbn at a now devalued rate

shegzhkn:
Was just going through the web and I saw reference to former president Jonathan regime of how we had 4.9 trillion naira for 2014 annual budget but over 77B USD as the annual oil sale for the year and the budget equivalent at the time was a little above 30B USD.


so my question is are we utilizing all our oil revenue for budget or what will have happened to the remaining amount that is not reflecting in the budget.

Cc :
lalasticlala
loannes

What you wrote here is not clear.

You need to post the link to what you have been reading to allow for clarity.

Nevertheless, the seeming premise of your conclusion, based on your question, is part of the historically false assumptions that got Buhari elected by Nigerians and now regrettably looking for a way out without finding any.

Get it very clear.

The oil revenue is shared by all tiers of government: comprising the federal, 36 states, and 774 local governments

Using the federal government budget alone to compare the oil receipt is fraught with grave errors.

You would need to add the budgets/estimates of all the states and LGAs to make an appropriate comparion.

Or isolate the share of the FG from the revenue to compare with its budget.

In any case, the budget itself is not all about expenditure, it states the portion of receipts and the sources.

porka:


What you wrote here is not clear.

You need to post the link to what you have been reading to allow for clarity.

Nevertheless, the seeming premise of your conclusion, based on your question, is part of the historically false assumptions that got Buhari elected by Nigerians and now regrettably looking for a way out without finding any.

Get it very clear.

The oil revenue is shared by all tiers of government: comprising the federal, 36 states, and 774 local governments

Using the federal government budget alone to compare the oil receipt is fraught with grave errors.

You would need to add the budgets/estimates of all the states and LGAs to make an appropriate comparion.

Or isolate the share of the FG from the revenue to compare with its budget.

In any case, the budget itself is not all about expenditure, it states the portion of receipts and the sources.

Sire am not a buharist , infact right from the time he declared his ambition in 2015 , I was sceptical about the guy about delivery.

but of course am sure of what I do post online it passes through impeccable scrutiny.

To my understanding what you are trying to say is that all federal government revenues from oil sales, royalties, rent , firs revenues, nimasa, jamb all sum together are shared between the three tiers of the government framework Abi.