₦airaland Forum

grandstar:
The amount is too much. It's completely insane for2009.

I admire your calculations. But it misses out some details.

The oil revenue is shared between the 3 executive arms which are federal, state and local government. The FG only receives 52% of the sum.

The fuel subsidy which is ₦4 trillion for this calender year should also be deducted from it.

Lastly, not all the $93 enters the coffers of government. The oil companies cost of operations and profits are taken out. Let's assume it's 30% which leaves 70% of the total oil income.

By the time you apply all these deductions, there is an empty purse.

You are very correct. Thanks for the detailed explanation

[quote author=phymat post=114746181][/quote]You are right. May God help our Nation

billagreen:
Your calculation is wrong.
However 1.2mbpd is not going at 414 per barrel, pls confirm that a barrel of fuel isn't 1 dollar

Thanks boss. Correction made

henrimoto:
@tony0806. check again, your calculation is not correct. Presently, a barrel of crude oil is more that $70, you only used the exchange rate of ONE dollar to calculate the numbers of crude oil BPD.

Thanks a million. Correction noted and done. Really appreciate

Okbaba:
You may correct your calculations.
Crude oil is not sold at 1$ per barrel as used in your calculations. This year oil has gone up as high as120$ and over per barrel. Currently it is ranging at around 100$.
However, I am not saying an unsustainable salary structure be recommended, rather something appreciate and sustainable

thanks for the correction

VladimirPutiin:
Nigeria earns 15 billion Naira from crude oil monthly or I didn’t see that rightly

Yes o. SHELL and the other drillers haven't even taken their own percentage. Nevertheless, the government is making BILLIONS of naira from VAT on a daily bases.

*MODIFIED*

2,000,000 monthly

As at 2019, Nigeria had about 11,877 professors (though this include both those on private and public higher institutions).

That means; monthly, the government will pay 2,000,000 x 11,877 = 23,754,000,000. That's over twenty three billion naira monthly.

As at today, Nigeria produces about 1.2m BPD of crude oil (Our main source of income, excluding mineral resources from the north which I don't know why they don't mention it. Only God knows where that money is going to). Using the official exchange rate of about 414 naira/dollar,
If 1 barrel is about 93 dollars, this becomes 1,200,000 x 93$ = 111,600,000 per day



that's a total income of 111,600,000 x 414 = 46,202,400,000 (Nigeria's income from crude oil).

THEN; 46,202,400,000 x 30 days = 1,386,072,000,000. This is over 1.3 Trillion naira monthly.

Boy o boy, This country is making money.

SUMMARILY, THE GOVERNMENT CAN PAY ASUU COMFORTABLY.

The man was blunt. Nothing to hide

That's right

Ok

That's right

Okay

kenzysmith:
seun please check mental health before registering some people here. Who be this again?

Sai Baba! Don Allah, ka ga ma abunda ka fara, ka fin ka ba ri gidan govmenti. Ni ma, na gaji

In God's name, finish what you started before you leave the government house. Me too, I'm stressed out

Okay.
Someone that knows the writer of this junk at thenationonlineng.net should kindly tell him/her that this write-up can't deter us because all I see is an APC/PDP "skin" with the "voice" of this thenationonlineng.net.

Bring something else you script writer

Fresh honey is available ooo

Fresh honey is available ooo

Yes, the Faith of our leader is important. Ask your myopic self, will you vote for a Christian -Christian ticket if you are a Muslim? What level of insensitivity is this?

Good.

If you can't get a licensed gun because of the procedure, get a good Cutlass. Sharpen it in the market. On your way coming home, buy a catapult. Display them openly before you enter your compound so that people around with negative intentions will know that before they get to you, there's a little huddle to cross. Self defense is your constitutional right.

Extension kor, compression ni. Let's see your past record in managing an economy first before we'll listen to all these radarada. Allow us to vote for the "extended arm of PDP" (LP). As long as it's PETER OBI that's the candidate

That's right.

Someone once said; if you offer your brother for sale, even the buyer will never trust you.

You think the Muslims in the North are not wise? Tinubu as a Muslim still picked a Muslim running mate. They know very well that if you can betray the norm of picking the other religion as a vice, then you can never be trusted

Abdul05:
what are you talking about for God sake be batified

No no no no. I am always OBIdient. I've learnt my lessons for over 7 years. I can't be deceived

Something positive is cooking

Before Nkor

Okay

I hear

It's well

It's well.

This sounds like a ridiculous jab

That's right

"peter Obi should be treated on his merit..."

This copied stuff should be a topic on it's own