Nigeria: Western Oil Companies loot $140billion a year

Date: 17-08-2012 2:49 am (8 years ago) | Author: Paddy Hayes
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- at 17-08-2012 02:49 AM (8 years ago)
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In his article, “The Looting of Nigeria: BIG OIL’s $140 Billion A Year and Counting”, Thomas C. Mounting said:
 


As western oil companies loot some $140 Billion a year of Nigeria’s black gold, two thirds of the country’s population live on less than $2 a day. “Official” oil production figures show about 3 million barrels a day being pumped from oil fields into western tankers. However, informed observers have estimated up to one-third of all Nigerian oil is actually ‘stolen’, secretly loaded onto oil tankers after bribes are paid to corrupt government officials. If 4 million barrels of oil are being shipped out of Nigeria daily at $100 a barrel, times 30 days a month times 12 months (4x100x30x12) you arrive at almost $150 Billion a year in potential oil revenues for Nigeria, he explained."

The problems is not just theft of the oil but the fact that the western oil companies are literally looting Nigeria’s oil, paying as little as a 9% royalty. Do the math: 9% of $150 Billion (is about $15billion) minus the one third oil that is stolen (5billion) thus, the Nigerian government only receives about $10 billion a year of this amount. Simply put, at $100 a barrel the western oil companies get $91 and Nigeria only gets $9. Or more shockingly, Big Oil makes $140 billion a year vs. Nigeria’s $10 Billion”, he concluded.
 
Now what are Nigerians doing about this? Nothing!  

Nigerians would rather debate the unending conflicts between Islam and Christianity.
 
I read what Mr Eghes Eyieyen posted on his facebook:

"Last night, on NTA's 1am News, I watched Vice President Namadi Sambo being shown in Mecca, Saudi Arabia, representing President Goodluck Jonathan at the meeting of Heads of Government of members of the Organisation of Islamic Countries (OIC) into which Gen. Ibrahim Babangida surreptitiously and illegally took Nigeria during his tenure as President.
 
"I never cease to be amazed at the blatant manner the secularity of the Nigerian state which is enshrined in the Constitution is continually undermined by the Federal Government and some northern State Governments by consistently projecting Islam as if it were the preferred religion despite the fact that Nigerians are a multi-religious people.  
 
Nigeria's quest for true unity and peace will remain elusive until religion is kept in its proper place as a strictly personal matter."
 
Yes to Nigerians, religion is more important that seeking to solve the real problems besetting the nation
 
Yesterday I read something by a fellow Nigeria, Dr Valentine Ojo from Tall Timbers. He said
"Interesting what Nigerian intellectuals discuss!

"Religion is now about who may have sex with whom - and we have to go into the library to dig up obscure authors to make our point!
 
"In the meantime, billions are being LOOTED everyday, millions of Nigerians are dying of preventable diseases and accidents, Nigeria has one of the highest infant and maternal moralities in the world, no real hospitals, millions of Nigerian children are roaming the streets as beggars (Alamjiris), or hawking fruits and dirty water on roadsides - when they should be in school!
 
"Rather than address these REAL ISSUES, we are busy researching into "Qurtuby Vol. 3 pp 460", 'a book by Ibnl Jawzy, (I think the name of the book is Akhbarunnisa’a- stories of women', "(John McClintock, James Strong, "Cyclopædia of Biblical, Theological, and Ecclesiastical Literature" [Harper & Brothers, 1894], p. 782)", " (Matthew B. Schwartz, Kalman J. Kaplan, "The Fruit of Her Hands: The Psychology of Biblical Women" [Wm. B. Eerdmans Publishing, 2007] , pp. 146-147) ", etc.
 
"In the meantime, other nations - even Muslim nations like Abu Dhabi, Dubai, the Emirates, Indonesia, Malaysia, even Saudi Arabia - are busy building modern nations, well-equipped schools, introducing computers and modern technology, winning Olympic Gold Medals!
 
"Nigerian intellectuals are discussing what the Bible and the Koran have to say about having SEX with SLAVES!
 
"This is indeed the PATH to national development. Please gentleman, continue this your highfalutin intellectual discuss which will not put any food on the table of any Nigerian, or send any Nigerian child to school.
 
"The world is indeed admiring Nigeria's religious pseudo-intellectualism!"

And they want to be one out of 20 most developed nation on earth. If you ask them how they intend to achieve that, they say "God moves in a mysterious way, His wonders to perform"!
 
Tufiakwa!!!

Ogbuefi Ndigbo


Posted: at 17-08-2012 02:49 AM (8 years ago) | Gistmaniac
- Neglito at 17-08-2012 08:54 AM (8 years ago)
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Annoyingly, the peanuts that is given to Nigerians by these oil companies will be stolen again by Nigerian politicians. Cry Cry Cry Cry Cry Cry Cry Cry Cry Cry Cry Cry Cry  I weep for NIGERIA
Posted: at 17-08-2012 08:54 AM (8 years ago) | Gistmaniac
Reply
- proly at 17-08-2012 09:32 AM (8 years ago)
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ok
Posted: at 17-08-2012 09:32 AM (8 years ago) | Hero
Reply
- Solidstonez at 17-08-2012 09:36 AM (8 years ago)
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Quote from: Neglito on 17-08-2012 08:54 AM
Annoyingly, the peanuts that is given to Nigerians by these oil companies will be stolen again by Nigerian politicians. Cry Cry Cry Cry Cry Cry Cry Cry Cry Cry Cry Cry Cry  I weep for NIGERIA
SECONDED

Posted: at 17-08-2012 09:36 AM (8 years ago) | Addicted Hero
Reply
- Solidstonez at 17-08-2012 09:37 AM (8 years ago)
(f)
 Huh? Huh? Huh? Huh? Huh?

Posted: at 17-08-2012 09:37 AM (8 years ago) | Addicted Hero
Reply
- aso4life1 at 17-08-2012 09:37 AM (8 years ago)
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They should arrest their bosses to make sure they all pay back immediately.

Posted: at 17-08-2012 09:37 AM (8 years ago) | Hero
Reply
- cyntysweety at 17-08-2012 09:54 AM (8 years ago)
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mmmmmmmmmmm
Posted: at 17-08-2012 09:54 AM (8 years ago) | Upcoming
Reply
- chicco77 at 17-08-2012 11:23 AM (8 years ago)
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na thief go kill all of them Shocked Shocked Shocked Shocked Shocked
Posted: at 17-08-2012 11:23 AM (8 years ago) | Addicted Hero
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- zicooo at 17-08-2012 11:49 AM (8 years ago)
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i hell una 9ja
Posted: at 17-08-2012 11:49 AM (8 years ago) | Upcoming
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- tippa at 17-08-2012 11:52 AM (8 years ago)
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Mr administrator thank u for posting this article, mr. poster thank u double for coming up with such idea of displaying this article in this forum. this is the type of things we should be discussing for the benefit of all nigerians but then we focus on irrelevant issues as if our minds are being programmed for remote control. just check out how many contribution nigerian person will deliver on this issue now and you will find out how docile nigerians are, they will never contribute for solution for such issues. but no nigerians keep deliberating on dead matters, no nigerian is ready to discuss such sensitive issue even our youths who have no future as far as I am concerned. our leaders are slaves to the west but na common nigerian dey suffer am for no reason. we are entitled to the best living on this planet but see where we are today. nothing is working out so let us just divide in peace so that if we meet again, we can be able to shake hands and not slap faces. this is my own opinion. when we have slaves as leaders, what would u expect but this country get money sha. seriously.
Posted: at 17-08-2012 11:52 AM (8 years ago) | Upcoming
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- livingday at 17-08-2012 12:57 PM (8 years ago)
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This story is suspect! Nigeria belongs to OPEC and knows what those companies pay their host countries and she will not accept less. The fact is that the government is corrupt, NNPC is corrupt and those in the sector are corrupt. Nigeria needs serious revolution.
Posted: at 17-08-2012 12:57 PM (8 years ago) | Gistmaniac
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- toibeli at 17-08-2012 02:46 PM (8 years ago)
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  Before we  start blaming the foreign Oil Companies, we should realize that Nigeria's many problems are self inflicted.
Our leaders sold their souls to these foreign investors for personal riches.
Posted: at 17-08-2012 02:46 PM (8 years ago) | Gistmaniac
Reply
- dlimelite at 17-08-2012 02:53 PM (8 years ago)
(f)
Quote from: Neglito on 17-08-2012 08:54 AM
Annoyingly, the peanuts that is given to Nigerians by these oil companies will be stolen again by Nigerian politicians. Cry Cry Cry Cry Cry Cry Cry Cry Cry Cry Cry Cry Cry  I weep for NIGERIA
SECONDED
Posted: at 17-08-2012 02:53 PM (8 years ago) | Hero
Reply
- donklass at 17-08-2012 04:14 PM (8 years ago)
(m)
  really poster u 've said it all my tumb for ur insight. most pathetic we nigerians are  always interested in nothing than
something,easily ready to die for our personal interest than for our rights. is an open secret that our major problem
are cooked by these multi national oil companies, pionerred by shell pb,masterminded by the dutch and the british
empire, they creat our leaders, such that outdated contract of 50 years is still invoke as formula base for sharing
oil and gass they extract from nigeria soil, any move to change this, call for a treath from them,sadlly our leaders has
to trade their pamit to lut the remaining merger quatter left ,by consenting to let the situation be,this is what nigeria need
to pay in order not be like congo ,or sudan or ussr.
 to change the status quo we needed a group leader that could lead nigerians to war with the west,obviously is not
going to be easy, but we have no chioce unfortunatly, we needed personalities like hugo chaves,mamorh galdafi,
iranians leaders and strong putin likes for the war. stranglly i am tempted to believe nigeria need the likes of buhari
in abuja now more than ever to be seconded by lagos state governor.
my intake is that as long as shell in paticular remain in nigeria, nigeria will never make any heads way. it is there
ultmost interest to see idiots assend the throne of leaderships  peptually for there easy control.if one knew that
somebody is after his life and he allow the person to kill him,he will go to hell.
Posted: at 17-08-2012 04:14 PM (8 years ago) | Upcoming
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- Senegal at 17-08-2012 05:12 PM (8 years ago)
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 Cool
Posted: at 17-08-2012 05:12 PM (8 years ago) | Hero
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- orjiwolo at 17-08-2012 08:27 PM (8 years ago)
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not correct, though not ruling ou theft and fraud, the amounts quoted is way over the top
Posted: at 17-08-2012 08:27 PM (8 years ago) | Gistmaniac
Reply
- denmal at 17-08-2012 11:13 PM (8 years ago)
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Quote from: tippa on 17-08-2012 11:52 AM
Mr administrator thank u for posting this article, mr. poster thank u double for coming up with such idea of displaying this article in this forum. this is the type of things we should be discussing for the benefit of all nigerians but then we focus on irrelevant issues as if our minds are being programmed for remote control. just check out how many contribution nigerian person will deliver on this issue now and you will find out how docile nigerians are, they will never contribute for solution for such issues. but no nigerians keep deliberating on dead matters, no nigerian is ready to discuss such sensitive issue even our youths who have no future as far as I am concerned. our leaders are slaves to the west but na common nigerian dey suffer am for no reason. we are entitled to the best living on this planet but see where we are today. nothing is working out so let us just divide in peace so that if we meet again, we can be able to shake hands and not slap faces. this is my own opinion. when we have slaves as leaders, what would u expect but this country get money sha. seriously.

You spoke well God bless Nigeria
Posted: at 17-08-2012 11:13 PM (8 years ago) | Gistmaniac
Reply
- Ecto at 18-08-2012 05:07 AM (8 years ago)
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Why not when I have sold our nation to them

Damn!
Posted: at 18-08-2012 05:07 AM (8 years ago) | Gistmaniac
Reply
- malvin2525 at 18-08-2012 07:46 AM (8 years ago)
(m)
 Angry
Posted: at 18-08-2012 07:46 AM (8 years ago) | Gistmaniac
Reply
- malvin2525 at 18-08-2012 07:55 AM (8 years ago)
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 Shocked
Posted: at 18-08-2012 07:55 AM (8 years ago) | Gistmaniac
Reply
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