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President Buhari Assents To The Bill Amending The Deep Offshore Act - Politics (2) - Nairaland

Nairaland Forum / Nairaland / General / Politics / President Buhari Assents To The Bill Amending The Deep Offshore Act (16439 Views)

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Re: President Buhari Assents To The Bill Amending The Deep Offshore Act by 1kbusiness: 7:23pm On Nov 04, 2019
Send us a message today
Re: President Buhari Assents To The Bill Amending The Deep Offshore Act by Flets: 7:23pm On Nov 04, 2019
Say goodbye to capital investment in Nigeria. Deepwater
Re: President Buhari Assents To The Bill Amending The Deep Offshore Act by DCmonster: 7:24pm On Nov 04, 2019
PassingShot:
PMB has really tried for Nigeria. May God bless him more with good health.
what's this one saying?

1 Like 1 Share

Re: President Buhari Assents To The Bill Amending The Deep Offshore Act by NaijaHeadlines: 7:24pm On Nov 04, 2019
Hmm..
Re: President Buhari Assents To The Bill Amending The Deep Offshore Act by MrVagina: 7:24pm On Nov 04, 2019
[s]
post=83742553:

Just One question : Are you also happy that since PMB became President we have experienced no fuel shortage and all the long queue we experienced each and every December for 6 straight years that your Ogogoro daddy (jona) was in power?
[/s]
shatap
Re: President Buhari Assents To The Bill Amending The Deep Offshore Act by airminem(f): 7:26pm On Nov 04, 2019
Netanya:
Out of everything to do
Cute dp
Re: President Buhari Assents To The Bill Amending The Deep Offshore Act by Muhammad2468(m): 7:26pm On Nov 04, 2019
watin this one day talk self
Re: President Buhari Assents To The Bill Amending The Deep Offshore Act by bigpicture001: 7:29pm On Nov 04, 2019
budaatum:
WHAT NIGERIA STANDS TO GAIN FROM THE AMENDMENT

Nigeria is projected to earn an additional income of $1.4 billion annually from international oil companies operating in the country if the bill seeking to amend a particular section of the act is passed into law.

Section 16 of the act states: “(1) The provisions of this Act shall be subject to review to ensure that if the price of crude oil at any time exceeds $20 per barrel, real terms, the share of the government of the Federation in the additional revenue shall be adjusted under the production sharing contracts to such extent that the production sharing contracts shall be economically beneficial to the government of the Federation.”

Although various stakeholders have been calling for a review of the act, there are fears that it might scare away investors from the oil sector.

https://allafrica.com/stories/201910290604.html

Paid writer....have dey increased from30k...?

2 Likes

Re: President Buhari Assents To The Bill Amending The Deep Offshore Act by Azmanaty: 7:30pm On Nov 04, 2019
post=83742553:

Just One question : Are you also happy that since PMB became President we have experienced no fuel shortage and all the long queue we experienced each and every December for 6 straight years that your Ogogoro daddy (jona) was in power?

Anyways, Happy wailing to you and your ilks for the next 4 years.
The more you wail, the more the country progress.

Mr dead meat suya, tell ur daddy to take back the price of fuel to where GEJ left it and return the queues we 'experience every December'. Hypocrites!

1 Like

Re: President Buhari Assents To The Bill Amending The Deep Offshore Act by Netanya(f): 7:31pm On Nov 04, 2019
airminem:
Cute dp
thanks

1 Like

Re: President Buhari Assents To The Bill Amending The Deep Offshore Act by idesylvester(m): 7:31pm On Nov 04, 2019
post=83742553:

Just One question : Are you also happy that since PMB became President we have experienced no fuel shortage and all the long queue we experienced each and every December for 6 straight years that your Ogogoro daddy (jona) was in power?

Anyways, Happy wailing to you and your ilks for the next 4 years.
The more you wail, the more the country progress.
So tell me why should we have shortage when the price is high already? If there's shortage of fuel after milking us then he's worst than the devil. Afterall he promised to reduced the price of fuel.... I will never stop saying the truth regardless of who's in power... I support no one but the right one. Mind you its 3 years that's left

3 Likes

Re: President Buhari Assents To The Bill Amending The Deep Offshore Act by MrVagina: 7:31pm On Nov 04, 2019
[s]
post=83742530:
Very good development.
We can now earn foreign exchange from the oil companies in Nigeria.

May God Almighty continue to bless, protect and guide our darling Daddy President Muhammadu Buhari as he is doing all he can to make this once battered and raped nation work again.

May God give him more wisdom, knowledge and understanding as he makes our country a land flowing with milk and honey.

God bless Nigeria.

You are so in our mind sis.
God bless you ma.

Amen in Jesus mighty name.
Insha Allah.
God bless you real good too patriot.
You are a good man that want the country to work.
Stay blessed Chairman.
[/s]
trash trash trash
Re: President Buhari Assents To The Bill Amending The Deep Offshore Act by MrVagina: 7:31pm On Nov 04, 2019
[s]
post=83742553:

Just One question : Are you also happy that since PMB became President we have experienced no fuel shortage and all the long queue we experienced each and every December for 6 straight years that your Ogogoro daddy (jona) was in power?

Anyways, Happy wailing to you and your ilks for the next 4 years.
The more you wail, the more the country progress.
[/s]
bullcrap
more trash
Re: President Buhari Assents To The Bill Amending The Deep Offshore Act by Tipster07: 7:33pm On Nov 04, 2019
You need loan for your business and you around Ajah and environs then check my signature for further information
Re: President Buhari Assents To The Bill Amending The Deep Offshore Act by leokid866: 7:33pm On Nov 04, 2019
MelesZenawi:
He assented to it in London?

Or his chief of staff did?

These cabals are deadly

Hush....please take a seat.

2 Likes

Re: President Buhari Assents To The Bill Amending The Deep Offshore Act by cuteboy2: 7:35pm On Nov 04, 2019
And we are paying over N3trillion (almost 50% of the annual budget) in subsidy for that supply your fermented kunu drinking god bubu said doesn't exist, or that he doesn't understand.

An amount that can build a couple of refineries. How much is Dangote using to build his 650,000 barrels per day Lekki refinery?

post=83742553:

Just One question : Are you also happy that since PMB became President we have experienced no fuel shortage and all the long queue we experienced each and every December for 6 straight years that your Ogogoro daddy (jona) was in power?

Anyways, Happy wailing to you and your ilks for the next 4 years.
The more you wail, the more the country progress.
Re: President Buhari Assents To The Bill Amending The Deep Offshore Act by content208: 7:36pm On Nov 04, 2019
PassingShot:
PMB has really tried for Nigeria. May God bless him more with good health.

Yeah; pmb really tried by turning Nigeria to the poverty capital of the world.

May God handle your life and destiny the same way buhari handles Nigeria economy and security. Say amen

1 Like

Re: President Buhari Assents To The Bill Amending The Deep Offshore Act by budaatum: 7:38pm On Nov 04, 2019
bigpicture001:


Paid writer....have dey increased from30k...?
Must I slave for 30k? Na dem rope your neck?
Re: President Buhari Assents To The Bill Amending The Deep Offshore Act by tete7000(m): 7:43pm On Nov 04, 2019
When he doesn't even know what he signed. See how the guy is pointing where to sign to him, that says it all...
Re: President Buhari Assents To The Bill Amending The Deep Offshore Act by tete7000(m): 7:44pm On Nov 04, 2019
content208:


Yeah; pmb really tried by turning Nigeria to the poverty capital of the world.

May God handle your life and destiny the same way buhari handles Nigeria economy and security. Say amen

Amen!!!!
Re: President Buhari Assents To The Bill Amending The Deep Offshore Act by content208: 7:44pm On Nov 04, 2019
post=83742553:

Just One question : Are you also happy that since PMB became President we have experienced no fuel shortage and all the long queue we experienced each and every December for 6 straight years that your Ogogoro daddy (jona) was in power?

Anyways, Happy wailing to you and your ilks for the next 4 years.
The more you wail, the more the country progress.


https://www.premiumtimesng.com/news/headlines/257917-buhari-fails-to-end-worsening-fuel-scarcity-across-nigeria.html


The link shows that you are an entity with no dignity. Your life is an embodiment of shame and disgrace. No wonder your business and life have recorded failure.

May God handle your life and destiny the same way buhari handles nigeria's economy.

1 Like

Re: President Buhari Assents To The Bill Amending The Deep Offshore Act by jesmond3945: 7:45pm On Nov 04, 2019
Nigeria and oil nawa.
Re: President Buhari Assents To The Bill Amending The Deep Offshore Act by Okoroawusa: 7:49pm On Nov 04, 2019
Promismike:
Are u sure baba knows wat he is signing grin
No go n explain to him
Re: President Buhari Assents To The Bill Amending The Deep Offshore Act by Nsarug80: 7:51pm On Nov 04, 2019
post=83742553:

Just One question : Are you also happy that since PMB became President we have experienced no fuel shortage and all the long queue we experienced each and every December for 6 straight years that your Ogogoro daddy (jona) was in power?

Anyways, Happy wailing to you and your ilks for the next 4 years.
The more you wail, the more the country progress.
It's obvious you were still a toddler when GEJ was in power that's why you failed to realize that fuel scarcity ended together with OBJ administration.

2 Likes

Re: President Buhari Assents To The Bill Amending The Deep Offshore Act by bixton(m): 8:04pm On Nov 04, 2019
budaatum:
WHAT NIGERIA STANDS TO GAIN FROM THE AMENDMENT

Nigeria is projected to earn an additional income of $1.4 billion annually from international oil companies operating in the country if the bill seeking to amend a particular section of the act is passed into law.

Section 16 of the act states: “(1) The provisions of this Act shall be subject to review to ensure that if the price of crude oil at any time exceeds $20 per barrel, real terms, the share of the government of the Federation in the additional revenue shall be adjusted under the production sharing contracts to such extent that the production sharing contracts shall be economically beneficial to the government of the Federation.”

Although various stakeholders have been calling for a review of the act, there are fears that it might scare away investors from the oil sector.

https://allafrica.com/stories/201910290604.html


I think this amendment is an ambitious/ambiguous one.
That act you're talking about is not part of the purported amendment. For those who know and have been following certain events, that act already exists but there's no follow up from the government or probably its one of those half truths we like telling the populace.
If you don't know certain states took the FG to court concerning that act as it regards the increase in state's revenue......they spoke with the president about it and were able to come to a common ground.


A couple of months ago, the FG was attacking the oil companies for default, etc, etc.......
But I guess that's all normal talk.
Re: President Buhari Assents To The Bill Amending The Deep Offshore Act by senbonzakurakageyoshi(m): 8:06pm On Nov 04, 2019
ORIENTATION101:
how is it your major problem.p obviously he assent to the bill in uk. What u should be worried about is if the bill will impact Nigeria economy

Because due process clearly does not matter.
Re: President Buhari Assents To The Bill Amending The Deep Offshore Act by inyenejo(m): 8:07pm On Nov 04, 2019
As usual the bill will only favour the northerners .

If u are a sane mind please say no to one Nigeria.
Re: President Buhari Assents To The Bill Amending The Deep Offshore Act by budaatum: 8:22pm On Nov 04, 2019
bixton:



I think this amendment is an ambitious one.
That act you're talking about is not part of the purported amendment. For those who know and have been following certain events, that act already exists but there's no follow up from the government or probably its one of those half truths we like telling the populace.
If you don't know certain states took the FG to court concerning that act as it regards the increase in state's revenue......they spoke with the president about it and were able to come to a common ground.


A couple of months ago, the FG was attacking the oil companies for default, etc, etc.......
But I guess that's all normal talk.
Its more like an enforcement act of an already existing act. Those oil companies have been racking it in, not cleaning cleaning their mess like they do elsewhere.

We are ambitiously going after our money with an act.

Note to future - Legal minds required.
Re: President Buhari Assents To The Bill Amending The Deep Offshore Act by Chukazu: 8:22pm On Nov 04, 2019
Once it involves "sharing formula" for Niger Delta oil he will quickly assent but present him with electoral reform bill he will turn deaf ears
Re: President Buhari Assents To The Bill Amending The Deep Offshore Act by Dukeolumidemans(m): 8:24pm On Nov 04, 2019
budaatum:
WHAT NIGERIA STANDS TO GAIN FROM THE AMENDMENT

Nigeria is projected to earn an additional income of $1.4 billion annually from international oil companies operating in the country if the bill seeking to amend a particular section of the act is passed into law.

Section 16 of the act states: “(1) The provisions of this Act shall be subject to review to ensure that if the price of crude oil at any time exceeds $20 per barrel, real terms, the share of the government of the Federation in the additional revenue shall be adjusted under the production sharing contracts to such extent that the production sharing contracts shall be economically beneficial to the government of the Federation.”

Although various stakeholders have been calling for a review of the act, there are fears that it might scare away investors from the oil sector.

https://allafrica.com/stories/201910290604.html

It's already scaring off investors. The latest company trying to leave now is Chevron. Shell is also shutting down gradually from what I heard from their staff at RA here in Ph.
The comedy about the whole thing is all these revenues and monies repatrated/recovered, there is no single accountability. And all the medium of complains of the people is gradually clamped down by Fg. No wonder the departure wing of our Intl. Airport terminals are always busy these days...
Re: President Buhari Assents To The Bill Amending The Deep Offshore Act by bixton(m): 8:31pm On Nov 04, 2019
Dukeolumidemans:


It's already scaring off investors. The latest company trying to leave now is Chevron. Shell is also shutting down gradually from what I heard from their staff at RA here in Ph.
The comedy about the whole thing is all these revenues and monies repatrated/recovered, there is no single accountability. And all the medium of complains of the people is gradually clamped down by Fg. No wonder the departure wing of our Intl. Airport terminals are always busy these days...

There are no real investors in Nigeria. What we have here are business individuals.

Shell is bound to leave and its nothing new. All other companies will leave on their own terms and its not about the policies of the FG. It's all about forecasts and they know what's going to happen but not the time.
It is bound to happen because Nigeria is on a keg of gunpowder waiting to explode.
Whatever they leave behind will be sold to indigenous companies who will bear the brunt if they don't address issues appropriately.
Re: President Buhari Assents To The Bill Amending The Deep Offshore Act by Johans1991: 8:34pm On Nov 04, 2019
Glorymax:


Yes, seen already that the tweet came out earlier today. The question we are asking is whether Mr President assented to the bill in London or back home. He is on 2 weeks vacation.
he is not on vacation he went for a private visit.

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