“The governance is there and there will be the incorporated joint venture. So, Nigeria’s investment will be covered by a joint venture just like the NLNG model. So, that brings an end to the abuse by NNPC officials in the running of the company.
“Oil contributes 10 per cent of our GDP but it contributes 75 to 80 per cent of our foreign exchange earnings, 70 per cent of our fiscal revenues and when we take LNG and add it to oil, we’ll have 95 per cent of revenues. So, directly or indirectly, this is the goose that lays the golden egg. We’ve got to nurture it even though the obsolesce of oil is a declining function of time right now.
“Finally, the big elephant in the room; the host communities and the 3 per cent allocation. Is the 3 per cent the ideal, optimal compensation for the host communities, I will say, ‘No’, because I come from there but at the same time, what is more important for the oil communities is the transparency of the money that is spent and the impact it has rather than having a tea party.
“Issues are going to be seriously debated in the host communities and the problem is that a time between misunderstanding and violence which maybe 12 months or six months is much shorter today, you will find that misunderstanding and violence, squabbles and political disruptions is going to be the bane of this thing because everybody in town is going to want to be a traditional ruler.”
So now it’s clear
Shut up you are part of Buhari economic team that destroy the economy, too late to cry. Rewane
And Sen Dickson, that was fighting against the anomaly was controversially ambushed by EFCC, all to intimidate him. This fraud called one nigeria is on the verge of unfolding.
Where was your voice & influence when your people and their communities were being raped by the fulani subjugation regime in Nigeria?
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
PANDEF fumes, North to get 30% oil profit share as Buhari assents to PIBThe quests for oil in the Northern region and other parts of the country have received a significant boost with the signing of the Petroleum Industry Bill 2021 into law by the President, Major General Muhammadu Buhari (retd.) on Monday. NASS does exactly what Buhari wants. So his signing the bill is just a formality. The representathieves from the South are there just as mannequins, they can't change anything. Empty fumes We were the southern senators and representatives when this bill was debated? Serious problem will soon emerge in this country from the way things are going. What we are seeing is a tip of the iceberg.
Source: MobilePunch - 🏆 8. / 63 Read more »
BREAKING: Buhari signs PIB into lawPresident Muhammadu Buhari has signed the Petroleum Industry Bill (PIB) into law. Buhari assented to the bill on Monday, according to Femi Adesina, his Controversial bill I wonder if this regime has any feelers or even empathy at all. The regime head is detached from present realities. The country is facing threats of secession from 2 regions, and the best is to stoke for more. The Niger Delta is likely not taking this aberration without a fight. He will b quick to sign that into law but E-voting & elections; No
Source: Daily Trust - 🏆 13. / 51 Read more »
News in Photographs: Working From Home, Buhari Signs PIB into LawPresident Muhammadu Buhari Monday signed the Petroleum Industry Bill (PIB) 2021 into law. Buhari assented to the Bill working from home. The President is currently observing a five-day quarantine a… After saying No I wonder if this regime has any feelers or even empathy at all. The regime head is detached from present realities. The country is facing threats of secession from 2 regions, and the best is to stoke for more. The Niger Delta is likely not taking this aberration without a fight.
Source: THISDAY LIVE - 🏆 14. / 51 Read more »
PIB: NASS commends President Buhari for signing billThe Senate has described the assent of the Petroleum Industry Bill by President Muhammadu Buhari as a major victory that has the potential of bailing Na to Dey sign paper Dey vote am in useless leaders Electoral Bill nko?
Source: DailyPostNGR - 🏆 11. / 59 Read more »
OPEC congratulates Buhari on signing PIB into law - Punch NewspapersThe Organisation of Petroleum Exporting Countries has congratulated President Muhammadu Buhari for signing into law the Petroleum Industry Bill. Funny 😆 This man's wants to create more tension in the Niger Delta region .
Source: MobilePunch - 🏆 8. / 63 Read more »
PDP Berates Buhari Over PIB AssentThe Peoples Democratic Party (PDP) has berated President Muhammadu Buhari for ignoring the outcry by Nigerians across board not to sign into law, what it
Source: LeadershipNGA - 🏆 4. / 77 Read more »