In recent new:

The rising dependence of the U.S. on internal supply of fuel has made the country’s crude oil import from Nigeria to slump from 810,000 barrels in the previous year to 361,000 in July.

Nigeria’s Co-ordinating Minister for the Economy and Finance Minister, Dr. Ngozi Okonjo-Iweala, captured the Federal Government’s worry when she told The Guardian in a telephone interview: “Yes, every Nigerian should be concerned about these developments. There has been a spate of studies, articles and other information on increased availability of Shale gas and more oil in the U.S. due to more exploration.

“In fact, the U.S. has just given Vitol & Shell licences to export oil from the U.S. for the first time. U.S. demand for outside oil is still there but decreasing. These are some of the reasons we went for a sensible $75 benchmark price in view of the changing nature of oil supplies in the world’s principal markets and the possible impact on demand.

“The discovery of Shale oil and gas in the U.S. are long-term fundamental factors that we must pay attention to. Nigeria cannot afford to bury her head in the sand oblivious to changing energy trends in the world. It is in our best interest to respond proactively to these trends. The consequences of not doing so could be very unpleasant not only for us but future generations too.”

But Nigeria is taking some measures in response to the development. It is currently exploring other countries it would sell its crude oil to address the impact of the sharp reduction in the U.S. demand for Brent crude.
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In even more recent news:

The United States will overtake Saudi Arabia to become the world's biggest oil producer before 2020, and will be energy independent 10 years later, according to a new forecast by the International Energy Agency.

"The United States, which currently imports around 20% of its total energy needs, becomes all but self-sufficient in net terms -- a dramatic reversal of the trend seen in most other energy importing countries," the IEA stated.

Instead of looking for a lasting solution to the loss of crude oil income looks like the country is shopping around for other clients. Does Nigeria not get the message that crude oil is gradually becoming an unreliable source of income for the country?

2020 is closer than we think, what can Nigeria do in order for the country not to go under?


source CNN.com and ngrguardiannews.com

The Senate should first remove the immunity clause covering all d political office holders like the president, vice president, senate president, speaker haus of rep, all d govrnors and every other person that immunity covers while in office. This will allow transparency, development, good life for pple and capital projects being properly implemented while it will reduce excessive spendings, fraud and laundering, unemployment etc , at the end of the day it'll save a lot of money for the economy, the future of nigeria and the Nigerians. This is all I'm able to write inside the bus, maybe when I sit down properly I can tell u more on how we can save Nigeria.

Let’s even assume that we have a Ghana kind of revolution and all the “evil politicians” die or somehow go away. That will not stop the decline in income.

The government has gotten away with giving the masses the middle finger for so long. Now that there is an emerging problem that is drying up their source of embezzlement money, they could be pushed to take action. What exactly can they do though they all seem confused as it is?