₦airaland Forum

During the 16 years of PDP government from 1999 to 2015, Nigeria earned a total of N51 trillion from petroleum resources. The money is part of the N96.212trillion the country earned in 58years of crude oil sales. revenue Of this princely sum, which accounts for about 80 per cent of the country’s revenue, only N12.258 trillion (just about 14% of total) has been paid to the oil producing areas as derivation. The figure is N35.848 trillion less than the N48.106 trillion the oil-bearing regions should have received as derivation if 50 per cent derivation had not been jettisoned few years after crude oil became the chief revenue earner for Nigeria. The figures are the outcome of research documents from the Petroleum Inspectorate, NNPC, CBN Annual Report and Statement of Account, Nigeria Bureau of Statistics and the Nigeria Extractive Industry Transparency Initiative, NEITI, indeed PDP squandered the nation’s earnings.

Even if they squandered $20trillion

We were better of then

NigerDeltan:
Even if they squandered $20trillion

We were better of then

How were you better off? If a fraction of that was used to ensure stable electricity, there would have been thousands of factories established as a result of that. Thousands of even millions of Nigerians would be employed and the economy would have been far bigger than what it is now.

How then were you better off?

nextlevel19:
During the 16 years of PDP government from 1999 to 2015, Nigeria earned a total of N51 trillion from petroleum resources. The money is part of the N96.212trillion the country earned in 58years of crude oil sales. revenue Of this princely sum, which accounts for about 80 per cent of the country’s revenue, only N12.258 trillion (just about 14% of total) has been paid to the oil producing areas as derivation. The figure is N35.848 trillion less than the N48.106 trillion the oil-bearing regions should have received as derivation if 50 per cent derivation had not been jettisoned few years after crude oil became the chief revenue earner for Nigeria. The figures are the outcome of research documents from the Petroleum Inspectorate, NNPC, CBN Annual Report and Statement of Account, Nigeria Bureau of Statistics and the Nigeria Extractive Industry Transparency Initiative, NEITI, indeed PDP squandered the nation’s earnings.

AND 80% OF PDP MEMBERS THEN ARE NOW APC MEMBERS .. BEHOLD OLD THINGS HAVE PASSED AWAY AND ALL THINGS HAVE BECOME NEW

and how much has APC squandered jst in three and a half year rule?









Lets do d math.

sammy99:
and how much has APC squandered jst in three and a half year rule?










Lets do d math.

NO THEY ARE ALL SAINTS.. INCORRUPTIBLE SAINTS

byteem:
NO THEY ARE ALL SAINTS.. INCORRUPTIBLE SAINTS

lol do u mean Gandollar?