how many barrels per day?

Worldwide - about 80 million bpd 

with Nigeria @ 1 - 2 million 

Top 3 oil producing countries: USA, Russia, Saudi Arabia 

source: Wikipedia - List of countries by oil production

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Another awesome industrialist hangout

April 2019: 

Aliko Dangote, CEO of Dangote Group, in conversation with his friend, 

Sudanese billionaire Mo Ibrahim.  

45 minutes.  

 

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based on logistics, #Africa

Congratulations bro. You have a done a good job in Abuja. Ekiti State has gained another performer with @AO1379. Wish you the best. https://t.co/Y1kHJBjOej

— Ife Adebayo (@IfeAdebayo) August 31, 2020

I'm excited to share that I've been promoted to West Africa bureau chief for @business @BBGAfrica, still based in Accra and responsible for the coverage of 21 countries. The learning continues....

— Yinka Ibukun (@YIbukun) May 23, 2020

“France’s largest hydrocarbons group Axens has won a contract to license key refinery technologies to one of Nigeria’s leading industrial conglomerates, the BUA Group... The new refinery, with a capacity to produce 200,000 bpd, should be operational 2024.”https://t.co/fjNXw1T3oN

— tolu ogunlesi (@toluogunlesi) September 1, 2020

After meeting Macron the French President ,the CEO of BUA Cement has signed a deal to build a mega oil refinery in Akwa Ibom. The refinery which will be completed in 2024 to produce 200,000 barrels per day of oil will join the Dangote's 600,000 bpd oil refinery to cut imports. pic.twitter.com/QFoiXNHpV2

— ᴏᴍᴀsᴏʀᴏ ᴀʟɪ ᴏᴠɪᴇ™☤ (@OvieAli) September 1, 2020

The African Continental Free Trade Area agreement will create the world’s largest free trade zone with 54 countries. How logistics company Kobo360 is preparing.

— strategy+business (@stratandbiz) August 26, 2020

I remember being the first person from the naija tweetdom to give away airtime on twitter back in 2009...and now I'm on the total opposite end of the giveaway spectrum. pic.twitter.com/IblG7eafzP

— eLDee (@eLDeeTheDon) September 2, 2020

God, as I start my second term as President of the African Development Bank, I humble myself before you. I ask that you will grant me wisdom and that Africa will thrive and prosper. Make Africa shine. pic.twitter.com/uMpoaX0XA1

— Akinwumi A. Adesina (@akin_adesina) September 1, 2020

Hard work often beats talent, particularly when talent fails to work hard. In addition, when U have the talent, & follow it up with hard work, U become "extraordinary." Please don't underrate your personality. Try to challenge d "impossible," until it becomes real impossible. pic.twitter.com/FOAi64PBw6

— Isa Ali Pantami, PhD (@DrIsaPantami) September 1, 2020

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Hard truths as prices continue to soar in Nigeria

This is inflation, as dramatized by Nigerian people, mostly traders.  We would do well to take human feedback into account in designing our government. 

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The high crimes and high life of Ibori and co.

James Ibori defrauded £157m from west African nation's oil rich Delta State

He spent millions on luxury mansions, private jet, fleet of cars and hotel trips

He admitted conspiracy to launder funds during his eight-year governorship

The 51-year-old is accused of personally pocketing £50million of the money

But his defence lawyer claims he did not make a single penny from the fraud

Full confiscation order under Proceeds of Crime Act on Friday will determine how much he will be ordered to repay

SOURCE:  Former Wickes cashier who became a Nigerian state governor and defrauded some of the world's poorest people out of £157million may not have to pay back a penny, by Emma Glanfield for THE DAILY MAIL (UK) 

A former Wickes cashier who became a Nigerian state governor and defrauded £157million of public funds to live a lavish lifestyle may not have to pay a single penny back.
James Ibori, 51, is said to have personally pocketed £50million of cash stolen from the west African nation’s oil-rich Delta State during his eight-year tenure.
The former £5,000-a-year Wickes cashier blew millions on luxury homes, a £12.6million private jet, fees at some of the UK’s most expensive boarding schools for his children, first-class travel and exclusive hotels.

James Ibori, 51, of Hampstead, London, is said to have personally pocketed £50million of cash stolen from the west African nation's oil-rich Delta State during his eight-year tenure

The former Wickes cashier blew millions on luxury homes, a £12.6million private jet, fees at some of the UK's most expensive boarding schools for his children and exclusive hotels

He owned a £600,000 fleet of armoured Range Rovers, a £120,000 Bentley and a £340,000 Mercedes Maybach that was shipped direct to his £3.2million mansion in Johannesburg.
Described as one of Nigeria’s most influential and wealthy politicians, Ibori rigged lucrative state contracts with the help of his wife, mistress, sister, and an inner circle of corrupt officials and lifted money straight out of state funds.
He also sold £23million of state-owned shares in telecoms company Vee Mobile to fund a lavish lifestyle, including £125,000 monthly credit card bills while his people languished in poverty.
Ibori, who now lives in Hampstead, north west London, was sentenced to 13 years behind bars in April 2012 after admitting a raft of fraud and money laundering offences.
He is due to face a confiscation hearing at Southwark Crown Court but it was claimed today that he did not make a single penny from the £157million fraud.
Applying to have confiscation proceedings thrown out, Ivan Krolick, defending, said Ibori’s pleas of guilt were not an admission that he personally profited from the scam.

Ibori owned a £120,000 Bentley, a £340,000 Mercedes Maybach that was shipped direct to his £3.2million mansion in Johannesburg and a range of homes including one in Dorset, pictured

The former £5,000-a-year Wickes cashier owned a £600,000 fleet of armoured Range Rovers and sold £23million of state-owned shares to fund a lavish lifestyle, including £125,000 monthly credit card bills

The court heard if the full confiscation hearing does go ahead under the Proceeds of Crime Act, the fraudster may only be ordered to pay back £330,000.

Prosecutor Sasha Wass QC said: ‘The handling of the money itself gave rise to the crime so the benefit of the crime in the context of this case would be the same thing.
‘It gives rise to the proceeds of crime.
‘The Crown has been taken wholly by surprise that Mr Krolick should address the court and say that there was no evidence in effect that Mr Ibori benefited’.
Nigerian-born Ibori moved to the UK in the 1980s where he married his wife, Theresa, and worked as a cashier at Wickes in Ruislip, Middlesex.
In 1990 the pair were convicted of stealing goods from the store and fined £300. A year later Ibori was fined £100 for handling a stolen credit card before he moved back to his homeland.
Ibori was elected as governor of Delta State in 1999 after tricking his way into power by hiding details of his previous convictions in the UK for theft and changing his age.
In 2003, he was re-elected as governor for another four year term, after failing to disclose his previous convictions and financial status.

Ibori, 51, who now lives in Hampstead, north west London, pictured, was previously convicted of stealing goods from home-improvement store Wickes and handling a stolen credit card

Ibori, described as one of Nigeria's most influential and wealthy politicians, bought a £120,000 Bentley, pictured, a £340,000 Mercedes Maybach and a £600,000 fleet of armoured Range Rovers

During that time he systematically stole funds from the public purse, secreting them in bank accounts across the world.

His methods included the inflation of State contracts, kickbacks and the transfer of cash from the State accounts by unscrupulous employees in his inner circle.
In one instance he rigged the tendering process for state contracts in cahoots with his mistress Udoumaka Okoronkwo, who would be due to face confiscation proceedings alongside Ibori.
The couple used Okoronkwo’s companies Sagicon, Rivbbed and Saagaris - the latter of which their four-month old love-child was named as a director of - to ‘bid’ for inflated deals to provide items to the state including china and vehicles.
The money was then channelled out of Nigeria before it was laundered through a series of off-shore trusts and companies.
Ibori was also helped to steal the cash by his wife Theresa, sister Christine Ibori-Ibie, and a series of corrupt professionals - UK London based lawyer, Bhadresh Gohil, fiduciary agent Daniel Benedict McCann and corporate financier, Lambertus De Boer.

Ibori was also helped to steal the cash by his sister Christine Ibori-Ibie, whose plush home is pictured above, wife Theresa and a series of corrupt professionals including London based lawyer Bhadresh Gohil

 The former state governor was arrested by officers from the Economic and Financial Crimes Commission (EFCC) in Nigeria in December 2007.

Two years later at a court in Ibori’s hometown in Asaba, 170 charges of corruption were dismissed on the basis that there was no clear evidence to convict.
The case was reopened in April 2010 by the EFCC before Ibori fled to Dubai. He was finally extradited back to the UK in April 2011.
Ibori admitted ten offences relating to conspiracy to launder funds from Delta State, substantive counts of money laundering and one count of obtaining a money transfer by deception and fraud.
He was excused from attending today’s hearing and Judge Anthony Pitts is expected to rule on Friday whether he will face a full confiscation hearing.

Source: http://www.dailymail.co.uk/news/article-2600746/Former-Wickes-cashier-Nigerian-state-governor-defrauded-worlds-poorest-people-157million-not-pay-penny.html

How has the New York Times reported the Central Bank Governor's sack? And what are Nigerians saying about Sanusi's legacy?

Governor of Nigeria’s Central Bank Is Fired After Warning of Missing Oil Revenue, by Adam Nossiter, NYTimes.com Feb 20, 2014

"President Goodluck Jonathan of Nigeria removed the governor of the country’s central bank from his post on Thursday, after the bank governor repeatedly charged that billions of dollars in oil revenue owed to the treasury was missing.
...

Oil yields 95 percent of the country’s total export earnings, and Mr. Sanusi has been saying for months that a substantial portion of the money was missing from public coffers...that the state-run Nigerian National Petroleum Corporation, or N.N.P.C., had failed to turn over nearly $50 billion in revenue over an 18-month period, from January 2012 to July 2013, “in gross violation of the law.” Though oil prices were strong, official figures inexplicably showed declining revenue and falling reserves.

...

The sprawling company acts as the country’s oil buyer, seller, explorer, producer, processor and regulator, and is “at the nexus between the many interests in Nigeria that seek a stake in the country’s oil riches,” according to a 2010 Stanford University study.

The study said that while the company “functions well as an instrument of patronage,” it is neither competent nor efficient in its many operations. Mr. Sanusi went further, accusing it this month of “illegal and unconstitutional acts,” including transferring income from government-owned oil properties to “private hands.” "

Read the full article

Meanwhile, the backpage column of Nigeria's ThisDay Newspaper today has 'How Would You Remember Sanusi?'  by Simon Kolawole. 

"Can we ignore the fact that Sanusi restored some sanity to the banking industry? Can we ignore the fact that the so-called billionaires, who were heavily indebted to the banks and living like kings were exposed? Can we ignore the fact that, although it cost us heavily, no bank was allowed to go down and no depositor lost one kobo during the crisis, unlike in the past?
Or can we ignore the fact that the rogue bankers are now facing trial, even if their crafty lawyers and the judiciary are working against justice? Can we ignore the successful intervention of Asset Management Company of Nigeria (AMCON) which, under Mr. Mustapha Chike-Obi, has done a good job of cleaning up the mess created by these rogues? Can we deny that the stock market is now back to life and this is a major achievement of the Jonathan administration? Can we deny that inflation is now at single digit and the naira has been stable – owing to CBN’s macro-economic management? 

...

If I were to advise President Jonathan, I would tell him not to waste this great opportunity to install and instil accountability in the oil industry. It is tragic that we sell so much oil but cannot account for every kobo that comes in. We give NNPC 440,000 barrels per day when it can only refine 80,000. We then engage in questionable swap deals that apparently short-change us. The NNPC dips its hands into funds that should go directly into the federation account. These are serious issues. In my opinion, we can fault Sanusi’s method but we should never fault the message: NNPC is a disgrace. This has been going on for decades and has to stop. If this controversy will serve as the turning point for the oil industry, so be it."

Read More Opinions of the Nigerian people Re: The Sack of CBN Governor Sanusi

Read More on the NNPC Thefts, Diversions, or Missing Revenue

Business Hour is back, every Saturday at 12 noon online and on the radio in every state

BUSINESS HOUR with Martin Udogie is making a dramatic and explosive return to the airwaves.

This time, BUSINESS HOUR is being syndicated as a national network programme. Starting Saturday, January 19th, BUSINESS HOUR will be broadcast Live on all 40 FM radio stations of Radio Nigeria (FRCN).   The Programme will be on air every Saturday, 12 Noon!

LAGOS listeners can tune in to Metro FM 97.7, and Radio Nigeria 1, 103.5 FM;
ABUJA: Kapital FM 92.9;
ONLINE:  www.radionigeriaonline.com

FULL LIST OF RADIO NIGERIA FM STATIONS 

Almost 40 STATIONS Nationwide, up to 120 million people

States     Location     Frequency     Name
Abia     Umuahia     103.5     Pacesetter FM
Adamawa     Yola     101.5     Light House FM
Akwa-Ibom     Uyo    104.5     Atlantic FM
Anambra Awka 102.5 Gateway FM
Bauchi Bauchi 98.5 Pearl FM
Bayelsa Yenagoa 101.5 Creek FM
Benue Makurdi 103.5 Harvest FM
Borno Maiduguri 102.5 Peace FM
Cross River Calabar 99.5 Paradise FM
Delta Asaba 104.4 Charity FM
Ebonyi Abakaliki 101.5 Unity FM
Edo Benin City 101.5 Bronze FM
Ekiti Ado-Ekiti 100.5 Progress FM
Enugu Enugu 92.85 Coal City FM
Gombe Gombe 103.5 Jewel FM
Imo Owerri 100.5 Heartland FM
Jigawa Dutse 100.5 Horizon FM
Kaduna Kaduna 96.1 Supreme FM
Kano Kano 103.5 Pyramid FM
Katsina Katsina 104.5 Companion FM
Kebbi Birnin-Kebbi 103.5Equity FM
Kogi Lokoja 101.5 Prime FM
Kwara Kwara 103.5 Harmony FM
Lagos Ikoyi 97.7 Metro FM
Lagos Ikoyi 103.5 Radio Nigeria 1
NassarawaLafia 102.5 Solid FM
Niger Bida 100.5 Precious FM
Ogun Abeokuta 94.5 Paramount FM
Ondo Akure 102.5 Positive FM
Osun Ilesha 95.5 Gold FM
Oyo Ibadan 93.5 Premier FM
Plateau Jos 101.5 Highland FM
Rivers PH 98.5 Treasure FM
Sokoto Sokoto 101.5 Royal FM
Taraba Jalingo 104.5 Gift FM
Yobe Damaturu 104.5 Sunshine FM
Zamfara Gusau 102.5 Pride FM
FCT Abuja 92.9 Kapital FM 

ONLINE:  www.radionigeriaonline.com  

Coming next week (January 19th at 12 noon): 

SHELL MD Discusses PIB, etc on 40 FM Radio Stations Nationwide with Martin Udogie

-------------------- 

Mr. Mutiu Sunmonu is the Managing Director of Shell Petroleum Development Company of Nigeria (SPDC). He is also the Chair of all Shell Companies in Nigeria and Vice President Production, Shell sub-Saharan Africa.

There is no sector in Nigeria more strategic than the oil and gas sector. It accounts for over 90% of Nigeria’s foreign exchange earnings; and therefore a key driver of the economy. Activity in the sector has a major impact on jobs and wealth creation for the country and its citizens.

And Shell is Nigeria’s biggest oil and gas producer, as well as the only one, of all the IOCs (international oil companies), with a Nigerian as the managing director, dating as far back as 2005!

In this interview, Mr. Mutiu Sunmonu takes on all the strategic and contentious issues in the sector, the opportunities and challenges, Shell immediate and future plans, etc. Among these are: The PIB (Petroleum Industry Bill), Gas Flaring, Gas Pricing for power generation, The Local Content Act, etc.

He makes some startling revelations. Did you know that 80% of Shell marine businesses go to indigenous companies? That all Shell new projects do not flare gas? And that Shell gas flaring will soon exceed global industry standards? That Shell is setting up a Foundation to help SMEs build capacity to be better positioned for more oil and gas business opportunities? ETC.

This show will air at 12 noon, on Saturday, January 19th, 2013, on all 40 FM stations of Radio Nigeria. See list of the stations above or listen online at www.radionigeriaonline.com