What if we are getting more revenue from customs than from NNPC?



What if we are getting more revenue from customs than from NNPC?
Is crude oil revenue really the major source of revenue in Nigeria all the while or do we get more from customs considering the volume of transactions we record at the ports every day and the fact that crude oil revenue is limited to NNPC stakes in the JV arrangements with the oil companies and that is even what is left after the foreign oil companies would have kept aside funds using the oil servicing firms to repatriate to their home countries?

I have had this discussion at least twice within the last 18 months and everything points to the fact that customs not NNPC is responsible for the bulk of revenue we generate even though the revenue is under reported as custom officials smile to the banks with hundreds of millions if not billions of naira on a daily basis with the FG receiving whatever is left.

Is the Niger Delta issue really necessary? No.

Can Nigeria survive without crude oil revenue? Yes.

After all, not too long ago Nigeria was doing very well without crude oil and can do well without relying on revenue from crude oil.

Is the talk about Niger Delta crude oil a classical case of much ado about nothing?

Or are we just dealing with the fact that the political class in Nigeria is basically lazy when it comes to brainstorming or doing any critical analysis of serious issues that concern us as a people under one flag?

What if we are getting more revenue from customs than from NNPC?

What do you think the FG should do?

Share on

 


 

You may also like... Nigerian Bottling Company products plus vitamin C -... Government shutdown: 800,000 workers go without pay, and... Ndigbo should mind their business and let their... Until we begin to think through issues without... Local herbal cure for ulcer in 2 months... Who steals money without using the money to... Gambia: Why is ECOWAS in a hurry to... And some Igbo people are excited that Asari... Religious tolerance is key The wife of our president calling a sitting...
Latest Articles Nigeria cannot win the world cup with a foreign coach Movie producers should stop denigrating Igbo tradition and religion Your vehicle catalytic converter may have been long stolen without your knowledge FRSC should stop using human beings as wedges on our expressways A good leader will naturally inspire the people Reasonable product warranty - Coscharis, a shining example Only the foolish starve just to export food to wealthy nations DISCOs will one day beg Nigerians to get connected to the grid Disregard the silly rumor about soldiers injecting people with dangerous vaccines My first and last involvement in politics

 

Popular Avoiding Domain Name Registration mistakes Steady electricity for Nigerians in 6 months or less Nigeria Online Scams: Where The EFCC Is Getting It Wrong Understanding Web Hosting Need to introduce the death penalty for corruption MTN 3G Internet service - Not yet uhuru How EFCC can effectively tackle online scam (419) Proposed energy tariff hike and privatization; the role energy efficiency can play Why it may take eternity for Nigeria to move forward How unique can a website be?

 

ARCHIVES

 

 

Do not mistake simplicity for stupidity and do not mistake humility for timidity. - Afam BC Nnaji

 

 

Amaechi, Nwodo Clash At UNIZIK Lecture

 

 

 

Articles Business and Economy (27)

 

Advertisement

 

 

 

Articles in pictures

 

| Advertise | Privacy Policy | Built with JBlog CMS | © 2018 Afam Nnaji - All rights reserved | Email | Powered by Just Web Services

 

| Advertise | Privacy Policy | Built with JBlog CMS | © 2018 Afam Nnaji - All rights reserved | Email | Powered by Just Web Services