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Politics › Re: One Year Old Fuel Queues In Abuja Disappearing - Deji Adeyanju Praise Tinubu by XAUBulls: 11:33pm On Jan 27, 2023
Business › Re: In Which Banks Do Billionaires Store Their Money? by XAUBulls: 9:08pm On Jan 27, 2023
Voy:
You find the answer below.

First of all, your question is probably based on a wrong assumption: Billionaires do not store large amounts of money in banks.

There are two reasons for that:

1. They do not have much cash: Becoming a billionaire does not mean having 1 billion in cash. It means having a net worth of 1 billion or more. In most cases this net worth is based on the valuation of a company they own. So, the money is in the company. But even the company does not really have the money, as the valuation of the company is based on its assets. And only a small portion of these assets are actually “cash money”.


2. The reason they are billionaires is, that they do not store their money in banks, as this is the least profitable thing you can do. The way a bank makes money, is by taking the money you stored there and reinvesting it. So, there are only 2 reasons for having large amounts of money stored in banks. Either you are highly risk-averse or you do not know how to invest your money in a profitable way. Both cases are rather unlikely for a billionaire.


So, in which banks do billionaires store their money?

However, even billionaires have some money in the bank to cover their living costs.
These banks probably meet the following criteria:

They are located in a developed country: Billionaires tend to be risk averse and avoid situations where they won’t have access to their money. So, for example, putting their money in the bank of a politically unstable country would not be a good idea.


They offer high interest rates: As a billionaire you are in a good position to make an individual deal with the bank. So, you would probably get a higher interest rate than others. There are two reasons for that:

1. You have more money in the bank. The more money you store in the bank, the more money the bank has to work with. Larger amounts of money give them the chance to close better deals / investments.

2. You might have a network of other potential profitable customers. So, the bank is willing to serve you in the best way they can, in order to get access to your network.

They have connections: The more money that enters the game, the more political the game gets. Whereas someone with lower capital might have a look at different banks and compare exactly what they offer, for a billionaire it’s more about contacts.

A billionaire may know someone who knows someone who actually owns a bank. They then sit together and negotiate a deal.
Indeed.
Politics › Re: One Year Old Fuel Queues In Abuja Disappearing - Deji Adeyanju Praise Tinubu by XAUBulls: 8:57pm On Jan 27, 2023
TheChameleon:
grin

Tinubu is the Don.

He doesn't take shiit. And the so-called cabal knows it.

"Bow down..." West Side Connection
"Bow down to a nigga that's greater than you"... grin

Politics › Re: "Daddy You Will Win": Peter Obi Collects Crying Lady's Phone Number (Video/Pics) by XAUBulls:
walefresh3:
Why the long episode over the obvious Truth ?... Tinubu on sick bed is better than that padorama bigoted lieing nyamiri aspirant call obi...That's just the fact...

I wish u know dis before casting your vote to that failure....

Tinubu look unattractive but came well prepared for the job than that talkertive decieving GUILIBLE zombidients like u....

The real educated nigeria youths know the truth and dey are going to stand by it..

Wait , I do you expect me to support a candidate had already knew 8s going to fail and use the opportunity to empower ipob ( weaponized them )...
Some factions of ipob are supporting obi... In fact dey are SYSTEMATICALLY the major sponsorer...

Write it down... Obi will fail as a president... He has nothing to offer.. that's why he is contradicting is own policies...

Vote him at your own peril...

I and other reasonable nigerians reject him...
This dishonest dude below who spams NL too is now an LP propagandist?

From being an APGA mouthpiece on NL, to a secession apologist, and now to LP. No ideology and a dishonest person. SMH

Travel › Re: Between The United Kingdom, The USA, Canada And Europe Which Is Better? by XAUBulls: 6:18pm On Jan 27, 2023
seunny4lif:
Well depending on what you want.
Big salary, expensive healthcare, expensive tuition fees AKA Student Loans and walking around with bulletproof or can be shot at by Police or someone that break up with is GF at anytime then you can move to USA grin grin

Big salary but useless when converted to USD, Euros and no worries healthcare, small tuition fees depending on your income, big support for families and easy process for PR then go to Canada.

Not so big salary, student loans for your kids but not expensive, No worries about healthcare apart from NHS queue grin support for family, only worry about knife attacks then move to NI, Wales and England as Scotland colleges are free.

If learning language is not your problem then German, Sweden except someone can walk into mall and start attacking people with knives or guns, Norway, Finland are good for family person as healthcare, schools are not your problem.

If you want to be close to UK but don’t want to leave in UK, and don’t want to learn another language, healthcare with long queue, Tuition fees are partial free for your children depending on your status, housing problems, massive support for working families then look no further than ROI.
Indeed.
Politics › Re: Fake Nigerian Immigration Consultant Sentenced To Jail In Canada by XAUBulls: 4:05pm On Jan 27, 2023
Politics › Re: Divorce: Asiya Ganduje To Return Bride Price To Inuwa Uba by XAUBulls: 2:16pm On Jan 27, 2023
Politics › Re: Gboyega Oyetola Declared Winner Of Osun Election By Election Petition Tribunal by XAUBulls: 1:54pm On Jan 27, 2023
Hidentity:
Gboyega Oyetola has been declared winner of the Osun state governorship election.
Seun


https://www.vanguardngr.com/2023/01/breaking-tribunal-sacks-adeleke-as-governor/
Jackson Adeleke... grin
Politics › Re: Why We Opposed Ayu’s Sack, Discarded Wike’s Option — Atiku's Campaign Group by XAUBulls: 11:42am On Jan 27, 2023
Sixfiguresmart:
At this point, I have lost any hope in this country. the best thing to happen right now is to make each state a sovereign country to avoid bloodshed.

I met a daughter of a serving minister from the North in São Tomé and Príncipe. Girl is living in a 5 star hotel like a rented apartment. She does nothing but count money. Simply nothing but make up in the morning and living the life. It occurred to me that her father moved stolen cash in her name to that Island. She is just a guardian of our money overseas. She schooled in the UK and she told me that she is an investor.

When I asked how she made the initial capital to start up a business, she told me that her parents have been supportive. When I looked up who her father was, I cried inside.

They have repeatedly raped this country and it just seems like there is no rescue for Nigeria. These ministers send their kids to different countries to store our wealth for them and their families alone. Nigerians are suffering. It is not a statement anymore, it has become a norm. We are here swimming in mud when we have rivers and lakes.

surah 56:66 We have been penalized.
By who?
To know that a god can be penalized (subject to a penalty or punishment) by humans is unimaginable. Who could have thought? to know that he is "we" and not "I" is mindboggling.

So, Wike and Atiku should work together and forgo the rift cos right now it is injury hour. Atiku, in my opinion should humbly seek to reconcile with Wike cos that man has nothing to lose at this point. Atiku is the one to with the loss if he lets Wike go. In life, we meet people with drama and ego but if you know what you want, focus on the goal and ignore their shenanigans.
She said she is an "investor."

An Investor in stocks and other financial assets? Real Estate?, etc.

Key word: Investor.
Family › Re: A Friend in Naija Just Lost Her US Based Husband Just 7 Months After Wedding by XAUBulls:
Tumbuleke:
Hello House,

Please, I need advise on how to console and encourage a friend of mine here in naija that heard the news of the death of her newly wedded husband who returned to the US after the wedding ceremony.

The husband lived in the US for so many years, he had a good woman/wife with two children. I don’t know if they were legally married or he settled with the lady and had kids with her for papers during his early years in the US.

Now, after years of being divorced or separated from the lady, I think a calabar US based woman according to him, he then met my friend at an occasion while he came to naija. He pick interest in her and proposed marriage, after like one or two years of communication over the phone. They got wedded seven months ago, and he flew back to the states. Communication continued via phone, until there was a break in communication, my friend here in naija tried to reach him but to no avail, until she called one of his US friend who went and confirmed that her husband was about entering his car packed on a hilly road, he forgot the handbrake wasn’t activated, and the car rolled with him to a tree…he had some fractures and rushed to the hospital. At a point, he was recuperating, although couldn’t speak to my friend on phone.Due to his extreme condition, I think the first wife came but shut every communication. So literally my friend was left in the dark until she heard that he had passed away.

His burial will be in the states, and his family here told my friend that they will come for discussion after the burial, probably for his properties which was gotten in both his name and wife’s name(my friend). Before his demise, he had told her how terrible most of his clans are, and how she should try to avoid them and keep things secret from them

How do I encourage her at this time and also the impending battle with her late husband’s family
A good lawyer will bring more clarity to this issue.
Business › Re: How To Withdraw Money From Your InstaForex Account in Nigeria by XAUBulls: 8:13pm On Jan 26, 2023
instaforexngr:
Its not longer news that popular e-currency website has been shut down by the American Government, and the owners of the financial Company arrested for international money laundering crimes. What this also means is that all the funds of Liberty Reserve account owners has been gone for good.

Many clients of Instaforex.com broker have also felt LR shutdown pretty bad, as most of them use the payment website for their funding and withdrawal transactions.

Instaforex has also suspended all withdrawals of clients who funded their trading accounts through Liberty Reserve until November 30. 2013.

Be that as it may, many old and new clients may also feel there is no other reliable and cost effective options of making deposits or withdrawals to their accounts with the broker.

I have decided to list other simple, safe and reliable options of withdrawing your funds from your Instaforex Trading Account.



InstaForex Debit Mastercard (Payoneer)

instaforex mastercard

All InstaForex customers regardless of the location worldwide have a

possibility to obtain a Debit Card in the US dollars for withdrawal of

funds from their trading account. Once withdrawn funds have been

loaded to your Card, amount loaded can be withdrawn from any ATM

Machine in your Country (including Nigeria).

A Client can apply for the Debit Card from their Instaforex Client Cabinet.



Local Transfers Agent

Instaforex clients (especially those in Nigeria) have the unique opportunity of withdrawing funds from their trading accounts through Insforex Accredited Agents in their country (including Nigeria).

Using a local transfer payment method offers you more flexibility and guarantee that you would receive your funds, even in your local currency (e.g. Naira for Nigeria).

To withdraw your funds through this method, you have to contact an Official Representatives of Instaforex Company. You would find their Office addresses and contact details inside your Client cabinet.

List of Instaforex Offices & Representatives in Nigeria
Investment › Re: Rise Fall Binary Options Scalping Sure Winning Volatility Indices Scalper Method by XAUBulls: 7:40pm On Jan 26, 2023
naijajobspost:
Traders advice for the day

“If you don’t respect risk, eventually they’ll carry you out.”



Out Last 2 strategies (digits under and no touch still works with amazing result)

Happy trading
Celebrities › Re: MI Abaga's Fiancée, Eniola Hails Him, Shares Pre-Wedding Photos by XAUBulls: 6:57pm On Jan 26, 2023
Omicronvaccine:
'African Rapper #1': MI Abaga's Fiancée, Eniola Mafe, Hails Him, Shares Pre-Wedding Photos

Nigerian rapper, M.I Abaga's fiancée, Eniola Mafe, has shared some of their pre-wedding photos on her Instagram handle, IGBERETV reports.

In her Instagram post, Eniola expressed excitement at getting engaged to the rapper. She said she can't wait to do life with M.I whom she described as ''African Rapper #1".

Her post reads;



https://www.instagram.com/p/Cb8LIyyMO4F/?utm_source=ig_web_copy_link
Travel › Re: 10 Things You Should Know About The Lagos Blue Rail by XAUBulls: 6:30pm On Jan 26, 2023
Vaughanlanrewaj:
Fifteen minutes ride, 10 things you should know about the Lagos Blue Rail



https://www.premiumtimesng.com/news/top-news/577914-fifteen-minutes-ride-10-things-you-should-know-about-the-lagos-blue-rail.html
An impressive completion of phase 1. Next is phase 2 which is the red line..
Phones › Re: Chinese Brands Take The Lead On The List Of Global Top Brands 2022-2023 by XAUBulls: 4:30pm On Jan 26, 2023
Abiodunspectre:
China ranks first in the world in the production and sales of consumer electronics. As an important global manufacturing base for consumer electronics, China is home to the manufacturing bases and R& D centers of most of the world's major electronics production companies and OEM. About 80% of the world's personal computers and over 65% of smartphones and color TVs are produced in China.


Chinese brand shine in the world, evidenced by lists of this GTB. Among them, the "2022-2023 Top 10 CE Brands" list is occupied by Chinese brands such as Huawei, TCL, Haier, BOE, Hisense, Xiaomi, Midea, Lenovo, Gree and Skyworth. What's more, Samsung, Apple, Xiaomi, VIVO, OPPO, Honor, Realme, Motorola, Huawei, and TECNO are the 2022-2023 Global Top 10 Smart Phone Brands, more than half of which are from China.


The "2022-2023 Global Top 10 TV Brands" list includes Samsung, LG, TCL, Hisense, Changhong, Xiaomi, SONY, Skyworth, CHiQ, and Sharp, and Chinese brands account for half. Awards released concurrently are the "2022-2023 Global Top 50 CE Brands", the "2022-2023 International Innovation Enterprise Brand Award" and so on.


This year's selection evaluates the participating brands from four dimensions, industry popularity, global strategic layout, influence on international market, and product innovation. In combination with data and jury evaluation and online voting, an authoritative, professional and fair award list finally comes out.

The innovative capabilities of China's consumer electronics have been demonstrated by numerous "world's-first" consumer electronics products launched in recent years, such as the mobile phone with foldable flexible screen, the multi-screen TV, the 8K laser TV with a rollable screen, the 4K 240Hz curved gaming monitor and the 5G laptop.


TCL won three individual awards in this selection, showing its super strength in the display field. The eye-catching new product TCL 4K Mini LED TV C845 won the "Gold Award for New Generation Display Technology". By fine-tuning the amount of light, mini-LED backlight technology can improve the black contrast that traditional LEDs are not good at and the powerful quantum dot technology can improve color richness, saturation and gamut to a higher level to bring exceptionally powerful and precise control of brilliantly bright and deeply dark areas of the image, delivering unparalleled depth and dimension. C845 has obtained the industry-leading IMAX Enhanced certification and is equipped with a series of core black technologies with high refresh rate and low latency for users to experience viewing with top sound quality and smooth games at home.


The TCL QD-Mini LED Smart Screen X11 won the "Award for Innovative Mini LED Display of the Year". It adopts the QD-Mini LED display technology, which combines the advantages of LCD and OLED. It upgrades the traditional surface light source to a pixel-level point light source and presents higher brightness, color gamut and lifespan than OLED while achieving ultra-high contrast. So it is the real next-generation large-screen display technology. The TCL NXTPAPER 12 Pro, which won the "Award for Innovative Eye Protection Technology of the Year", uses multi-layer eye protection paper-like display technology to retain natural colors, filter harmful blue light, and maintain excellent visual effects. In addition to excellent visual performance, NXTPAPER technology also enables users to enjoy a comfortable tactile experience when writing, drawing or taking notes on a paper-like screen.

Source: https://www.fox19.com/prnewswire/2023/01/06/lists-2022-2023-global-top-brands-unveiled-where-chinese-brands-shone-world/
Insightful.
Politics › Re: He’s The Best’ — Alpha-beta Ex-md, Who Accused Tinubu Of Fraud, Endorses Him by XAUBulls: 4:22pm On Jan 26, 2023
Exclusive101:
The former Alpha-Beta Consulting MD said he picked Tinubu as the “most suitable” contestant after a “dispassionate assessment” of all the candidates in the presidential race.

In 2020, Apara, who was sacked as the managing director of Alpha Beta Consulting in 2018, accused Tinubu of owning the firm by proxy, which led to his dismissal and withholding of his share profit for the period he worked for the firm.

He also made allegations of money laundering, tax evasion, forgery, and a number of other corporate fraudulent practices against the company and its owners.

In September 2022, Apara withdrew the case from the court after reaching an undisclosed out-of-court settlement with the former Lagos governor.

“My choice of Asiwaju Bola Ahmed Tinubu as the best man for the job is based on a dispassionate assessment of his previous public office records and superlative antecedents, all writ large in Lagos state — Africa’s fifth largest economy were it to be a country on its own,” Apara said.

My pick of Asiwaju Bola Ahmed Tinubu as the most suitable candidate for President in 2023 is also informed by a direct experience of the phenomenal Asiwaju Bola Ahmed Tinubu having worked with him for over twenty (20) years in various capacities, including at a point in my career when I worked at ALPHA-BETA Consulting, which company I eventually led as managing director/chief executive officer and honourably disengaged from in order to pursue other interests.

“I make bold to say that the great successes we recorded at ALPHA-BETA Consulting, especially the exponential increase in the internally generated revenue (IGR) of all our clients — local and international have everything to do with the capacity and competence of Asiwaju Bola Ahmed Tinubu as a colossus in public revenue generation re-engineering.

“Such was the undeniable results of ALPHA-BETA Consulting as a professional firm that many states in Nigeria across party divides discarded politics to engage ALPHA-BETA Consulting as their IGR consultants, including some West African nations.

“As a humble recipient of a cache of prizes in financial management and intermediation in Nigeria and across the world, I am convinced that at this juncture in our national journey Nigeria needs a president prudent and pragmatic in financial management like Asiwaju Bola Ahmed Tinubu.



“Asiwaju Bola Ahmed Tinubu is an extraordinary manager of human and material resources. As president, he would fix round pegs in round holes for a rapid socio-economic transformation of Nigeria into the country of our collective dreams.”

He said Tinubu is a “famous and credible name” associated with big businesses on the global stage and as president, Nigerians are poised to see more foreign capital and investment pouring into the country like never before.

https://www.thecable.ng/hes-the-best-alpha-beta-ex-md-who-accused-tinubu-of-fraud-endorses-him/amp
Interesting. Dapo Apara said damaging and defamatory things based under the toxic influence of anger. Now he is back on the block with Asiwaju Tinubu, his former boss.
Lessons learned.

Mynd44, nlfpmod.

Romance › Re: Please Help! How Do I Unite My Breasts And Make Them Stand In Unity? (pics ins) by XAUBulls: 3:02pm On Jan 26, 2023
fadilaMaikiriki:
Hello all!
I'm Fadila. I'm the fifth child in a family of four girls, two boys.

Please help me out!
How do I unite my breasts and make them stand in unity? I don't know what to do. The only time my breasts are together in one accord is whenever I get them locked up in their house. And this is because I forced them, not as if it's their wish to be together. Because, whenever I open the door to their house, they all fall apart, looking sad and facing the opposite direction, like two bitter housewives being wifed by one husband.

I've tried ways to unite them but, it seems like the ways I've tried are not working as fast as I would want. Please, which other way(s) do you think I can get them to stand upright and in unity?
Has anyone encountered this or been in this situation before, or seen a thing like this? Please, I need suggestions on what I can do to remedy this situation and make peace reign in their midst. I want them to be able to face upwards, stand up boldly on their own with or without any support from anyone or anything.
Thanks.

Sannun ku!
Get pregnant and your breasts will align. If you can't wait till then, go for a breast pump. Period. Shikenan. wink

Romance › Re: Please Help! How Do I Unite My Breasts And Make Them Stand In Unity? (pics ins) by XAUBulls: 2:54pm On Jan 26, 2023
slimjohn2k5:
people have small breast
saggy breast
heavy breast
etc some complain some dont but maybe giving birth may change the look because breast milk will pull it down

https://www.healthline.com/health/breast-shapes#shapes
Well said.
TV/Movies › Re: Dark October: Parents Of Slain ALUU-4 Urge Linda Ikeji, Netflix To Retract Movie by XAUBulls: 2:47pm On Jan 26, 2023
PrimadonnaO:
This is a devil's advocate-angle... and I don't think it holds much water.

The fact that she kept publishing spin-offs from the event doesn't mean she had genuine personal sympathies. She's a blogger! She was making money off a trending story.

From events past, Linda has shown that she can be truly cold & insensitive to other people's feelings. She would publish any story so long as it's a story and "juicy."

These are people's lives, for crying out loud!

I have no respect for her kind of blogging!

Ruining people!

Let people tell their stories or share their secrets themselves.

The fact that people in general love to read about the stories, miseries & whatnot of other people doesn't mean it's a good thing putting people's lives out there in that manner.
***********
This movie she went on to produce is quite unnecessary in my opinion.

ALUU-4 wasn't a hidden event.

She's not uncovering anything.

The families have reconciled the events and moved on with their lives, their grief in their bag.

Why reopen those wounds?
Indeed.
TV/Movies › Re: Dark October: Parents Of Slain ALUU-4 Urge Linda Ikeji, Netflix To Retract Movie by XAUBulls: 2:45pm On Jan 26, 2023
Romance › Re: What Is The Main Difference Between Prostitution, Hoooook-up And Olosho Please? by XAUBulls: 1:51pm On Jan 26, 2023
rickleye:
To clarify Olosho are not the cleanest they are usually stationed in Brothels and could have you in the bush. Dress Code almost non existent

Prostitutes - Ply the roads. They dress in all nines, usually wearing their Sunday best clothes . They hop in the car with you and take you to a nearby hotel for service.

Hookups - Most of these are thieves and robbers. You meet them online and they ask you for transport money first ( in which they do not show up ) however those that do are amazing and nice. Its casual transaction and are articulate in expressions. They are classy.

Escorts - They are posh and polished. They are discrete and some of them live in posh areas. Most of them are university students that need the money to get them through school. They do not leave their apartment for anything less than maybe N30k. They will not be found by the side of the road or engage in anything in vehicles. They are very clean and are gf and wifey material.
@Rickleye,

I appreciate your input here.

What is the full literal meaning of the Yoruba word Olosho? How was it derived?

I know that the Yoruba word for a
Prostitute is Asewo (Change giver or Money changer) OR in full "a se owo."

A guy of Yoruba descent explained these terms on NL 2 years ago
and he said Olosho simply means a "runs girl or hook-up girl."

I'm befuddled by the differences in defining what Olos(h)o literally means on the thread.

Only folks who are fluent or vast in
Yoruba can tell the real etymology and street-level usage of the word
Olosho.

In any event, even the standard definition of female e.s.c.o.r.t.s online and offline is that they are prostitutes, sex workers or call girls..
Romance › Re: What Is The Main Difference Between Prostitution, Hoooook-up And Olosho Please? by XAUBulls: 12:35pm On Jan 26, 2023
danvon:
Olosho is #2000 - #5000
Prostitute is #10,000 - 15,000
Hook up is #16,000 - 50,000
Escort is #50,000 and above, it can vary
Romance › Re: What Is The Main Difference Between Prostitution, Hoooook-up And Olosho Please? by XAUBulls: 12:04pm On Jan 26, 2023
Lalar27:
Rule no1 everything in this life have levels that's why they are given different names but they are all sex workers. Interesting part is that if you want their services there are different ways to approach them so you won't embarrass yourself.
Prostitutes are like the easiest to get of them all are their price are very cheap if you want to approach them for sex you don't need to stress yourself to much just ask them for the price per round and if you can afford it you are good to go these set can be found at night or very early morning standing in front of a building half naked

Olosho are like street girls so you have to be more careful in the way you approach them and their price are more high than prostitutes if you want to know them it's by their dressing most of olosho are single married women that are in their late twenties and early thirties with children that why you have to be careful in approaching them. If you want their services you will first have to make friends with them and provide for their basic needs. And if you want to have sex with them you will have to take them to hotel or to their house codedly

Hook up girls are diverse in nature some are expensive while some are cheap it depends on how the girl package herself. You can see and approach them mostly online from social media and most of them are teenagers and youth who are just still new to sex and are sexually hungry that's why I said the pricing differs. Mostly these girls prefer where is distance to where they stay so people that know them won't see them that why they like running their business online



prostitutes - they are mostly at beer parlors
Olosho - they are mostly street girls
Hook up - online
Romance › Re: The World's First Artificial Womb Facility-EctoLife. by XAUBulls: 11:29am On Jan 26, 2023
Nia69:
Researchers are now experimenting with maintaining uterus cells outside of the body, which in future could be supported in an artificial womb and provide a place for the embryo to implant.

EctoLife can help parents have children without having to go through pregnancy or even conception.

Here's a link to learn more on EctoLife.
https://vm.tiktok.com/ZMFtKgk1y/
EctoLife... Interesting.
Politics › Re: "I Am Married To Igbo Lady, Vote For My Father, Tinubu’s Son Begs Anambra Electo by XAUBulls: 6:35pm On Jan 25, 2023
Racoon:
Presidency: I Am Married To Igbo Lady, Vote For My Father, Tinubu’s Son Begs Anambra Electorate

https://tribuneonlineng.com/presidency-i-am-married-to-igbo-lady-vote-for-my-father-tinubus-son-begs-anambra-electorate/
Politics › Re: Lagos Set To Join Oil Producing States As Production Begins This Year by XAUBulls: 6:31pm On Jan 25, 2023
agabusta:
Lagos oilfield to begin production this year

With the award of a rig contract to carry out the drilling and completion programme for the Aje shallow-water field offshore Lagos, the first oil production is expected to begin in the state by December this year.

The operator of the Oil Mining Lease 113 has, on behalf of the joint venture partners, entered into a rig contract with Saipem for the Scarabeo 3 drilling rig to carry out the drilling and completion programme for the Aje Field Cenomanian oil development, Panoro Energy said in a statement on Monday.

The joint venture partners led by Yinka Folawiyo Petroleum Company Limited (the operator) had in October last year taken the final investment decision to develop the first phase of the Aje field.

According to the statement, the Scarabeo 3 rig is a semi-submersible rig currently stationed offshore Lagos. The rig will be moved 18 nautical miles to the Aje drilling location and will be used to carry out well operations for the first phase of the Aje Cenomanian Oil field development that includes two subsea production wells.

It said the well operations would comprise the completion of the existing Aje-4 well as a production well, and the drilling and completion of a new well, Aje-5, which would be drilled to the Aje-2 subsurface location.

The Aje-2 well is said to have demonstrated high reservoir productivity in a Cenomanian production test conducted in 1997, flowing approximately 3,700 barrels of oil per day of 41˚API oil under suboptimal well conditions.

Well operations are expected to commence in early third quarter of 2015 and are likely to take approximately 90 days to complete, according to the statement.

It stated that once well operations had been completed, subsea equipment would be installed and the wells would be tied back to the Front Puffin floating, production, storage and offloading vessel, currently undergoing refurbishment in Singapore.

The Chief Executive Officer, Panoro Energy, Mr. John Hamilton, was quoted in the statement as saying, “Panoro is very pleased to be entering into the rig contract for the drilling and completion of the Aje development wells. We have been able to achieve a lower rig rate than was expected when the Final Investment Decision was made in October 2014.

“With well operations expected to commence in the next few weeks, we will continue moving towards our incremental growth strategy of converting Panoro’s discovered resource base into commercial production and generating positive cash flow in 2016.”

Aje is an offshore field located in the western part of Nigeria in the Dahomey Basin at the border with Benin Republic, with the first oil targeted for December 2015, the statement said.

The field is situated in water depths ranging from 100 to 1,000 metres about 24 kilometres from the coast. The field contains hydrocarbon resources in sandstone reservoirs in three main levels – a Turonian gas condensate reservoir, a Cenomanian oil reservoir and an Albian gas condensate reservoir.

Yinka Folawiyo Petroleum Company is the operator, with 25 per cent interest in the field. The partners are Vitol, First Hydrocarbons Nigeria Limited, Energy Equity Resources Limited, Panoro Energy ASA and Jacka Resources Limited.

The JV partners had in January 2014 submitted the Field Development Plan for the Aje field to the Department of Petroleum Resources. The FDP was approved in March and is primarily focused on the development of the Cenomanian oil reservoir.


http://www.punchng.com/business/business-economy/lagos-oilfield-to-begin-production-this-year/
Bump.
Politics › Re: Lagos Set To Join Oil Producing States As Production Begins This Year by XAUBulls: 6:28pm On Jan 25, 2023
agabusta:
Dangote smart businessman has strategically positioned his proposed refinery in Lagos. With this development now:

-easily he will get his raw material
-large market is already waiting for him viz Lag, other part of Nigeria and the entire West Africa hub.
-Human resources is abundantly available in Lagos.
-port facilities is available in Lagos
-Lagos is relatively peaceful and ideal for business.

With the start of oil production, construction of this refinery, construction of the Ladol oil rig/other heavy metal fabrication yard at Takwa bay, construction of Lekki deep sea port and completion of the Lagos Atlantic City project, Lagos is about to firmly reestablish itself as the unrivalled commercial capital of Nigeria.
Politics › Re: Why We Can’t Build Refinery In Nigeria-shell by XAUBulls: 6:11pm On Jan 25, 2023
truth4life:
Why we can’t build refinery in Nigeria-Shell
On March 2, 2012 · In News 3:00 pmTweet

Mr Malcolm Brinded, the outgoing Executive Director of Shell Petroleum Development Company (SPDC), says the company cannot build a refinery in Nigeria because there are surplus refineries across the world.

Brinded, who is in-charge of the Upstream International unit of the company, made the statement in an interview with the State House correspondents, after a farewell visit to President Goodluck Jonathan at the State House.

The out-going Shell chief in Nigeria, who led a delegation to the State House, Abuja, said rather than build new refineries, the company was divesting from those it had interest in around the world.

“With respect to downstream, two comments there. Shell is divesting from refineries all over the world because there is a surplus of refineries; we no longer own any refineries even in the United Kingdom.

“I will also say because of the surplus of refineries available in a way, one has to look very closely whether building new refineries is a good investment for anyone not just for Shell but for countries involved.

“In today’s world, not looking at the past but where we are today, there is surplus of refinery capacity which essentially means many refineries in the world run at a loss.

“Which also means one can get refined products back again and pay very little for it to be refined,’’ he said.

Brinded said that building refineries was no longer profitable and that informed the company’s decision to invest in the gas sector.

According to him, Shell would continue to invest in the development of the gas sector, adding: “I do believe that investment in the downstream sector, especially gas sector in Nigeria, as I touched on, is very important.

“Nigeria has huge resources of gas that have yet to be unlocked and the potential to add to that gas not only in power but in other ways in the country.

“I think there are a lot of opportunities for Nigeria and for Shell in Nigeria and the potential much more than to consider refining.’’

Comments are moderated. Please keep them clean and brief.
http://www.vanguardngr.com/2012/03/why-we-cant-build-refinery-in-nigeria-shell/
Bump.
Travel › Re: The Hypocrisy Of Anti Japa People On Nairaland. by XAUBulls: 4:18pm On Jan 25, 2023
Studymore123:
I took the MMIA 4 days ago and it was busy. People are moving both in and out. When I wanted to travel, I didn't come to Nairaland to find out if the US or Canada or Germany was good. I'll visit to find out or reach out to family and friends for info.
I'm not in support of protagonists or antagonists. I maintain my own lane on issues, and that's largely because of my professional training.

Most of the information online are erroneous or exaggerated.
For example I had over 10 friends who visited me in early December from diaspora and all they said is, with the info on social media, they can't believe PH is like this. As a party boy, I don't get home sometimes 2am or 3am and we had mad fun.

Those who want to travel should travel, nobody is stopping them and nobody can hide under the false pretense of the information on Nairaland is discouraging. Those who don't want to travel should remain.
When I traveled to the US, I didn't come to Nairaland for endorsement, when I returned to Nigeria I didn't seek online pools and now that I just traveled back to the US, I didn't ask for anyone's opinion.

There are 2 major paths to relocation. Employment or Family. Any serious person can easily find such information on the official websites of the various countries. For those taking alternate routes, I don't care but don't risk your life.

I give my narratives largely based on my guardian's 50+ years living in the US/Canada and my personal travel experiences worldwide.

People like @e.d.n.u.t.1 just like dragging issues as if there's a prize winner instead of him to doing giveaway.
Nicely put.
Travel › Re: Boring Travel Topics by XAUBulls: 4:09pm On Jan 25, 2023
Studymore123:
The travel section is supposed to be replete with travel destinations and experiences. What you find is unnecessary stories of why you should travel to Canada, why you shouldn't travel to Canada, why Canada is the best place on earth, why you can't save $30 a day in Canada and the disadvantages of travelling abroad. Why I don't have issues with such topics, many of them are stale, old and boring.

Of course, discussions on other subjects are appreciated but from my brief experience no place on earth is an El Dorado. I strive to make the most of my life irrespective of where I find myself.

Let's give out positive vibes and avoid unnecessary rivalry. Let's show the beauty of different places and travel destinations, culture and traditions, cuisines and natural wonders, so that those of us unable to travel can learn from such experiences.

As Dalai Lama said "Man is so anxious about the future that he does not enjoy the present. The result being that he does not live in the present or the future. He lives as if he's never going to die and then dies having never really lived" If you died today would you have lived life?

Cherish what you've got around you while you wait for the better things to come.

My 2 kobo as always, since I don't cents.

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