Update:
15th October 2014 2:30pm - $80.44 per Barrel

SMH

Ryabcool:
No fighting. Don't let anyone goad you into derailing this thread.

Do you answer mad men on the streets? Why then should you answer that nutcase?

No fighting. Okay?

A drop in oil prices spells doom for a one commodity economy like ours. First, the government will go into deficit spending I.e spending more than it earns, taxes will increase, a ban on importation of goods in order to stabilize forex, layoffs in government jobs, a crash in the all ready weak stock market, consumer spending will drop and loo and behold, pump price of petrol and kerosene will be increased, the masses can't take it!!! The head to the streets and boom!!! We have a popular REVOLUTION!!!

GenBuhari:
SMH

yes?

GenBuhari:
I have come to realise that it is no coincidence that since 1976 whenever Nigeria has managed to get a good government, crude oil prices have been low and never improved.

After Muritala Mohammed was covert assassinate by his second in command Thief Obasanjo and America's CIA (a coup blamed on Dimka -who had been drinking throughout the night before the coup), oil prices remained high and remained high for most of the first term of President Shagari in 1979-1983.

During General Buhari's 20months, which saw him clean up corruption and start getting Nigeria on it feet, crude prices remained low and may have even gotten worse.

After Buhari was over thrown by CIA sponsored IBB, prices improved

However during General Abacha's non-corrupt and competent govt prices fell as low as $9/barrel

Since Abacha's covert assassination (poisoning) by CIA and IBB, crude prices have been steadily rising to unprecedented heights to a height of $115/barrel a few weeks ago.

Well now the USA is broke and it is no longer enough for it to make money from getting our oil very cheaply , now they want to steal pillage whatever natural resources they can lay their hands on in Nigeria at will without having to pay.

Basically stealing Nigeria's resources, by splitting Nigeria in way that leaves them in control of the resource rich regions with nobody to monitor them in the chaos they wish to create using their terrorism tactics of Ebola, Boko Haram combined with the oil price crash that they have engineered.

Why do Nigerians always blame others for what they fail to do well, your conspiracy theory is nothing but an offense to the sensibility of genuine Nigerians who know that the problem of Nigeria is caused by Nigerian and can only be solved by Nigerians.

What is the gain for USA to split your country?
Why will USA want distabilise your country to gain her oil resources when she is second largest producer of oil after Saudi Arabia?
What will it profit US to take over your source of income when your total annual budget is less than that of a state in US?
How do you justify a country that produce crude oil in large quantity yet import same product from neighbouring country with less output?
Can you sincerely justify the judicious usage of the proceeds of oil sales in the lives of Nigerians?

Even if Nigeria does not export 1 barrel of oil is that an excuse for her not to be a great nation despite abundance of mineral resources?

Your comment tend to portray Nigerian as docile in incapable of common sense, Nigerians success or failure should not be blamed on any country by making unrealistic theories that does not hold water, but if you insist on insulting our collective intelligence with this myopic postulations kindly back your arguments with fact.

However, i advice you check Obama's presidential speech where he mentioned to focus his administration on alternative energy source to replace our oil that has endangered the atmospheric condition of the earth by damaging the ozone layer which is inimical to human existence. This he has ensured come to pass by developing shale oil which USA now produce in large quantity thereby reducing their patronage to Nigeria and other oil producing countries which culminated in the sharp drop of global oil price unlike your leaders that you are trying fruitlessly to shield from blame who continuously renege on their electoral promises

Slave mentality has left people like you believing that the white man is your friend.

Despite all the atrocities he has committed against you for centuries you can not even believe that he may still want to harm you.

The first rule of survival in nature is to identify your enemy, if you are unable to do that then you are doomed.


https://www.youtube.com/watch?v=tuCdOkf4NxQ&list=UUMQOLBMYxeVLCX3cUWfmbOQ

Ttalk:


Why do Nigerians always blame others for what they fail to do well, your conspiracy theory is nothing but an offense to the sensibility of genuine Nigerians who know that the problem of Nigeria is caused by Nigerian and can only be solved by Nigerians.

What is the gain for USA to split your country?
Why will USA want distabilise your country to gain her oil resources when she is second largest producer of oil after Saudi Arabia?
What will it profit US to take over your source of income when your total annual budget is less than that of a state in US?
How do you justify a country that produce crude oil in large quantity yet import same product from neighbouring country with less output?
Can you sincerely justify the judicious usage of the proceeds of oil sales in the lives of Nigerians?

Even if Nigeria does not export 1 barrel of oil is that an excuse for her not to be a great nation despite abundance of mineral resources?

Your comment tend to portray Nigerian as docile in incapable of common sense, Nigerians success or failure should not be blamed on any country by making unrealistic theories that does not hold water, but if you insist on insulting our collective intelligence with this myopic postulations kindly back your arguments with fact.

However, i advice you check Obama's presidential speech where he mentioned to focus his administration on alternative energy source to replace our oil that has endangered the atmospheric condition of the earth by damaging the ozone layer which is inimical to human existence. This he has ensured come to pass by developing shale oil which USA now produce in large quantity thereby reducing their patronage to Nigeria and other oil producing countries which culminated in the sharp drop of global oil price unlike your leaders that you are trying fruitlessly to shield from blame who continuously renege on their electoral promises

With OPEC not due to meet before the end of November.There is every likely-hood that by that time oil price my slide as low as $55 per Barrel.

But Analysts are saying that USA may not need to have oil go any lower than $75 /Barrel as that is the price where it stops being profitable for Russia to export oil.

However if as we suspect USA is also planning to create a crisis that could facilitate break up of Nigeria, it may allow oil price to fall below $60 per Barrel.

GenBuhari, an oil crisis IS looming but you need to lay off on your conspiracy theories against the USA.
The real reason is that after 9/11 and the iraq war etc, the USA decided that it needs to reduce its dependence on foreign oil esp middle east so the USA developed technology to drill oil from its own soil. This process is known as fracking and the oil is called shale. They are even investing in green energy (solar etc) and doing whatever it takes to reduce the dependence. USA also has a ton of its own oil reserve and like you said, it is now #2 in oil production. Right now, there is a surplus of oil in the global market because countries like Nigeria, Venezuela, Saudi Arabia etc are SO ECONOMICALLY DEPENDENT ON EXPORTING OIL that they refuse to decrease their oil production/supply to match the reduced global demand hence why the price is tumbling. it's all about supply and demand if you study economics.

there is no conspiracy in this. unless you don't know how to take your destiny in your own hands and always want to blame any and everyone for your situation. Of course, if Nigeria keeps producing oil that nobody wants, it will be forced to reduce the price. when you go to yaba market and see tons of shirts on the floor, won't you bargain the price down? does that mean that you are a evil conspirator trying to create a crisis and destroy the merchant's business? abeg.

Nigeria needs to wisen up and diversify its economy. The era of crude oil is over. Shale oil is what's in now and even OPEC will probably be dismantling soon.

red101:
.

It is not conspiracy theory that America's CIA has been assassinating or overthrowing non-corrupt patriotic leaders of any country with natural resources that they want since the 1950s.

Please watch the videos below:


https://www.youtube.com/watch?v=4cLx1x2OCH4&list=PLRzmuN0KKXK-WIR-BKAd0gBxB7YIUepyl


https://www.youtube.com/watch?v=Jgwb2xTgdYg&list=UUMQOLBMYxeVLCX3cUWfmbOQ

Ttalk:


Why do Nigerians always blame others for what they fail to do well, your conspiracy theory is nothing but an offense to the sensibility of genuine Nigerians who know that the problem of Nigeria is caused by Nigerian and can only be solved by Nigerians.

What is the gain for USA to split your country?
Why will USA want distabilise your country to gain her oil resources when she is second largest producer of oil after Saudi Arabia?
What will it profit US to take over your source of income when your total annual budget is less than that of a state in US?
How do you justify a country that produce crude oil in large quantity yet import same product from neighbouring country with less output?
Can you sincerely justify the judicious usage of the proceeds of oil sales in the lives of Nigerians?

please don't pay mind to GenBuhari, he has no capacity for rational thinking because his mind is clouded by self-victimization and hate. He is not even Nigerian. he's African American (akata) and there are a few of them on this website. This same GenBuhari created a thread to praise Abacha and Idi Amin simply because he thinks they hate white people. Can you not say that he is the one wishing Nigeria and Africa evil?

I am Nigerian.
What about you? I am suspecting that you may not even be black

red101:


please don't pay mind to GenBuhari, he has no capacity for rational thinking because his mind is clouded by self-victimization and hate. He is not even Nigerian. he's African American (akata) and there are a few of them on this website. This same GenBuhari created a thread to praise Abacha and Idi Amin simply because he thinks they hate white people. Can you not say that he is the one wishing Nigeria and Africa evil?

A lot of oil on the black market at the moment . . . . . .Iraq, Libya?

Sunofgod:
A lot of oil on the black market at the moment . . . . . .Iraq, Libya?

Yes, and ISIS are selling it reallll cheap !

Okonjo Iweala will remove more subsidies to make up the shortfall . .. .. either way it will be the poor man that suffers.

red101:
GenBuhari, an oil crisis IS looming but you need to lay off on your conspiracy theories against the USA.
The real reason is that after 9/11 and the iraq war etc, the USA decided that it needs to reduce its dependence on foreign oil esp middle east so the USA developed technology to drill oil from its own soil. This process is known as fracking and the oil is called shale. They are even investing in green energy (solar etc) and doing whatever it takes to reduce the dependence. USA also has a ton of its own oil reserve and like you said, it is now #2 in oil production. Right now, there is a surplus of oil in the global market because countries like Nigeria, Venezuela, Saudi Arabia etc are SO ECONOMICALLY DEPENDENT ON EXPORTING OIL that they refuse to decrease their oil production/supply to match the reduced global demand hence why the price is tumbling. it's all about supply and demand if you study economics.

there is no conspiracy in this. unless you don't know how to take your destiny in your own hands and always want to blame any and everyone for your situation. Of course, if Nigeria keeps producing oil that nobody wants, it will be forced to reduce the price. when you go to yaba market and see tons of shirts on the floor, won't you bargain the price down? does that mean that you are a evil conspirator trying to create a crisis and destroy the merchant's business? abeg.

Nigeria needs to wisen up and diversify its economy. The era of crude oil is over. Shale oil is what's in now and even OPEC will probably be dismantling soon.

Well said, 1 million likes

as for the bolded, my understanding is that shale oil is the same with crude oil, it is called shale because of the kind of reservoir it is extracted from that requires fracking.

red101:
GenBuhari, an oil crisis IS looming but you need to lay off on your conspiracy theories against the USA.
The real reason is that after 9/11 and the iraq war etc, the USA decided that it needs to reduce its dependence on foreign oil esp middle east so the USA developed technology to drill oil from its own soil. This process is known as fracking and the oil is called shale. They are even investing in green energy (solar etc) and doing whatever it takes to reduce the dependence. USA also has a ton of its own oil reserve and like you said, it is now #2 in oil production. Right now, there is a surplus of oil in the global market because countries like Nigeria, Venezuela, Saudi Arabia etc are SO ECONOMICALLY DEPENDENT ON EXPORTING OIL that they refuse to decrease their oil production/supply to match the reduced global demand hence why the price is tumbling. it's all about supply and demand if you study economics.

there is no conspiracy in this. unless you don't know how to take your destiny in your own hands and always want to blame any and everyone for your situation. Of course, if Nigeria keeps producing oil that nobody wants, it will be forced to reduce the price. when you go to yaba market and see tons of shirts on the floor, won't you bargain the price down? does that mean that you are a evil conspirator trying to create a crisis and destroy the merchant's business? abeg.

Nigeria needs to wisen up and diversify its economy. The era of crude oil is over. Shale oil is what's in now and even OPEC will probably be dismantling soon.

Shale oil and most of america's internal supplies becomes economically foolish and not sustainable, if crude hits $75. The only reason fracking, has done well, is because of the high price of crude. Those wells will shut down, if the price keep tumbling down. The Americans have more to lose. I like the position taken by OPEC and Russia sofar. NO cuts in production, let's see who blinks first, between OPEC and the new American suppliers..

GenBuhari:
We pray it doesn't happen
Just be prepared in case it does.

Certainly, even if the violence does not materialise (and with Nigerians' capacity to endure, I am hoping it would be difficult to instigate the sectarian violence) the economic crisis has arrived with oil prices seemingly in free-fall

prayer wont help you. All they need to start violence is get somebody to tear koran or make fun of the prophet and boom,crisis.too easy

ProfCorruption:


Why are you propagating this useless junk here and there?

1.Get this into your skull: as far as the US is concerned, Nigeria is an inconsequential country. There is a lot to break Nigeria without America putting her hands on it.

2.US used to be among the biggest importer of crude oil globally, she is now an exporter. What does that tell you? Price will fall. It's an elementary economics. It is ridiculous to think the US that is working towards energy independence is doing so to spite Nigeria. Nigeria? Lol. Nigeria is nothing but at the center of global chagrin.

Let me ask you, pointblank, what is in Nigeria for the US?

a potential ring leader.cant have us getting our act together and taking their manufacturing jobs.presidents lose elections when americans lose their manufacturingjobs. You see coal(not your fault[function of ur level of education]) they seed a potential diamond in the rough

red101:
GenBuhari, an oil crisis IS looming but you need to lay off on your conspiracy theories against the USA.
The real reason is that after 9/11 and the iraq war etc, the USA decided that it needs to reduce its dependence on foreign oil esp middle east so the USA developed technology to drill oil from its own soil. This process is known as fracking and the oil is called shale. They are even investing in green energy (solar etc) and doing whatever it takes to reduce the dependence. USA also has a ton of its own oil reserve and like you said, it is now #2 in oil production. Right now, there is a surplus of oil in the global market because countries like Nigeria, Venezuela, Saudi Arabia etc are SO ECONOMICALLY DEPENDENT ON EXPORTING OIL that they refuse to decrease their oil production/supply to match the reduced global demand hence why the price is tumbling. it's all about supply and demand if you study economics.

there is no conspiracy in this. unless you don't know how to take your destiny in your own hands and always want to blame any and everyone for your situation. Of course, if Nigeria keeps producing oil that nobody wants, it will be forced to reduce the price. when you go to yaba market and see tons of shirts on the floor, won't you bargain the price down? does that mean that you are a evil conspirator trying to create a crisis and destroy the merchant's business? abeg.

Nigeria needs to wisen up and diversify its economy. The era of crude oil is over. Shale oil is what's in now and even OPEC will probably be dismantling soon.

Agreed except on the last part. The cost of oil extraction will always be an issue, so long term crude will win, because it is much cheaper to extract and in our case, our sweet crude needs little refinement.

As fas as strategy, short term, the excess production by the US is being used as an alternative to jumpstart the economy. It is great that it is also giving Russia fits, but it is not the primary reason. $50/barrel will not get rid of Putin. The only problem is that if the oil slump gets bad enough, jobs will start to go, which will have the opposite effect on the economy.

I have seen all kinds of smart people making charts etc, but the truth is no one really knows how this is going to end. We are living in a virtual, financially engineered system and no one has played this game before.

atlwireles:


Shale oil and most of america's internal supplies becomes economically foolish and not sustainable, if crude hits $75. The only reason fracking, has done well, is because of the high price of crude. Those wells will shut down, if the price keep tumbling down. The Americans have more to lose. I like the position taken by OPEC and Russia sofar. NO cuts in production, let's see who blinks first, between OPEC and the new American suppliers..

Bros, three gbosa for you.The expensive nature of shale Oil fracturing and enviromentalist opposition would help sustain higher oil prices instead. Ameica itself cannot survive if prices go way bbelow 80 dollars per barrel. Presently, there is a lot of oil price politicking as it has to do with the russia-ukraine war. The US is presently trying hard to slow down the russian economy which is also heavily oil dependent by pressurin saudi arabia(US ally) to flood oil market with crude way above its OPEC quota.Talk of over oil dependent, saudi arabia sleeps, wake, eat,drink on the account of crude oil production. Its economy is most likely to collapse if prices continue to relapse. As for nigeria, our govt should start putting in place policies that would encourage local and foreign investtment in non oil sectors like dubai is presently doing. Nigeria is not the middle east as we have more than crude oil to offer the world.

Next OPEC meeting is 6weeks away. And even then there would be no guarantee that anything could be done about oil prices unless America allows it.

America now controls Libya and Iraq and may soon overthrow and control Syria in addition to their control of Saudi Arabia, Kuwait and many othe gulf states. Even America itself is has enough capacity to raise it production enough to influence world oil prices.

It is just a matter of second guessing what America is up to and they are busy trying to accomplish a lot at the moment; from the take over of rich natural resources of the West Africa using the Ebola hoax and IMF/World Bank loans; to take over of Syria's Oil which they are doing now using ISIL (their new invented terrorist group) as an excuse to attack Syria.

It is likely that America is also planning to use Boko Haram fake jihadist possibly combined with Ebola hoax to actualise Nigeria's break up and steal our natural resources (oil and other valuable raw materials) in the process. Causing an economic and social crisis in Nigeria by very low oil prices may help create unrest and violence to justify US /Nato intervention and break up of Nigeria

America probably would not like to see our 2015 elections take place where there is a chance that a patriot like General Buhari may win, so in all probablity if it is going to break Nigeria it would like to start around December maybe a big Boko Haram attack around christmas time, allowing oil to go into free fall and if necessary attempting assassination of (God forbid!!) GEJ or GMB.

persius555:
Bros, three gbosa for you.The expensive nature of shale Oil fracturing and enviromentalist opposition would help sustain higher oil prices instead. Ameica itself cannot survive if prices go way bbelow 80 dollars per barrel. Presently, there is a lot of oil price politicking as it has to do with the russia-ukraine war. The US is presently trying hard to slow down the russian economy which is also heavily oil dependent by pressurin saudi arabia(US ally) to flood oil market with crude way above its OPEC quota.Talk of over oil dependent, saudi arabia sleeps, wake, eat,drink on the account of crude oil production. Its economy is most likely to collapse if prices continue to relapse. As for nigeria, our govt should start putting in place policies that would encourage local and foreign investtment in non oil sectors like dubai is presently doing. Nigeria is not the middle east as we have more than crude oil to offer the world.

Oil slump and Ebola worries fan African bond sell-off
Reuters
By By Marc Jones | Reuters – Wed, Oct 15, 2014 16:17 BST
ShareTweet
Print
By Marc Jones
LONDON (Reuters) - African dollar bonds were sucked into a global rout of riskier markets on Wednesday, falling to multi-month lows as slumping oil prices and worries about the spread of Ebola fanned broader fears about world growth.
Many of Africa's big economies depend on commodity exports, whether it be oil in Nigeria, copper in Zambia or coffee and cocoa in Ivory Coast. But meek global growth and oversupply mean many raw material prices are at multi-year lows and the strains are showing. [O/R]
African bond yield spreads over U.S. Treasuries blew out by an average 32 basis points, significantly underperforming the underlying EMBI Global index of sovereign emerging debt, with bonds from Nigeria to Ghana tanking up to 3.6 cents in the dollar.
"It's all tied to the global environment. Oil prices will affect some countries but the wider sentiment is increasingly negative," said Stuart Culverhouse, head of research at frontier markets brokerage Exotix.
"People are thinking this repricing shock is going to last a bit longer. If we are going into a permanent period of lower commodities prices that will affect African countries."
Nigeria is likely to be the worst hit by the oil price plunge, with crude prices now around the levels at which the country balances its budget. Its 2023 U.S. dollar-denominated bond fell almost 3 cents in the dollar to trade at a six-month low.
Although the Ebola epidemic remains largely confined to the minnow economies of Guinea, Sierra Leone and Liberia, worries about its spread in west Africa are mounting.
So far the death toll has reached 4,447 from a total of 8,914 cases, but the World Health Organisation said on Tuesday that there are likely to be 5,000 to 10,000 new cases of the disease a week by December.
The impact of the commodity price slump remained the region's most urgent issue however. Ghana's bonds were the worst performers after the country, which sells gold, cocoa and oil, cut its growth forecasts for the year.
The country is in talks with the International Monetary Fund about a rescue package.
The sharp swings came as markets worldwide suffered a rout that saw investors dump stocks and emerging assets and scurry to the safety of U.S. and German government bonds. [MKTS/GLOB]
Africa has also been a popular play for emerging market investors because of the desire for diversification and the relatively high yields these credits offered.
Excluding South Africa, there are around $18 billion worth of sub-Saharan African hard currency bonds in circulation.
A number of African countries have issued Eurobonds in the past few years as they seek to diversify their fund-raising and secure money for infrastructure investment.
Kevin Daly, a portfolio manager at Aberdeen Asset Management, said African Eurobonds had so far escaped the worst of the selloff witnessed in mainstream emerging economies in recent weeks but Wednesday's sell-off showed they were not immune.
"We are now in a declining oil environment with general de-risking and slower global growth, all that's catching up with some of these guys," Daly said.

https://uk.finance.yahoo.com/news/oil-slump-ebola-worries-fan-african-bond-sell-151746271--sector.html

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Let's see how madam havard economist navigates her way out of this. I de observe.

Up until about 3 days ago oil prices had been fluctuating in real-time minute by minute, but since then it has strangely remained fixed at $81.01 per Barrel.

This is very strange indeed. Whatever the American are planning would soon become apparent.

Perhaps they are masking the real oil price drop until they are ready so to cause a greater shock to unprepared nations that they want to impact.
Be vigilant!

http://www.bloomberg.com/energy/

Guys,

It is Saudi Arabia that is causing the price to come down so sharply. The Saudis have close to I TRILLION dollars in reserves and want to kill the US shale oil industry. They know that once prices reach $70 the US shale industry will simply collapse as will Canadian Tar sands industry. The Saudis prefer to take some cuts now and deal with $70 oil in order to maintain dominance in the long term. The fact of the matter is that the Saudis and the US have stopped being close for some time now.

Differences over the way to handle the Syria crisis, Iraq, and ISIS have caused relationship between the two of them to cool significantly. The other big issue is the idea of a deal with Iran which will lift sanctions and boost Iran's prestige and power in the region. The US isn't too upset with what Saudi is doing because they can use it to pressure countries like Nigeria, Venezuela, Iran and Russia who they have geopolitical plans against. Venezuela's economy is collapsing and Putin's Russia is bleeding money due to low oil prices. Iran is also taking damage and the US wants to use it to pressure Iran into giving up its enrichment program and agreeing to supply gas to Europe- further isolating Russia.

Do you guys see it now?

The Saudis cannot dare to disobey the USA their survival depends on it.

The Saudis are simply following instructions from America.

casualobserver1:
Guys,

It is Saudi Arabia that is causing the price to come down so sharply. The Saudis have close to I TRILLION dollars in reserves and want to kill the US shale oil industry. They know that once prices reach $70 the US shale industry will simply collapse as will Canadian Tar sands industry. The Saudis prefer to take some cuts now and deal with $70 oil in order to maintain dominance in the long term. The fact of the matter is that the Saudis and the US have stopped being close for some time now.

Differences over the way to handle the Syria crisis, Iraq, and ISIS have caused relationship between the two of them to cool significantly. The other big issue is the idea of a deal with Iran which will lift sanctions and boost Iran's prestige and power in the region. The US isn't too upset with what Saudi is doing because they can use it to pressure countries like Nigeria, Venezuela, Iran and Russia who they have geopolitical plans against. Venezuela's economy is collapsing and Putin's Russia is bleeding money due to low oil prices. Iran is also taking damage and the US wants to use it to pressure Iran into giving up its enrichment program and agreeing to supply gas to Europe- further isolating Russia.

Do you guys see it now?

GenBuhari:
The Saudis cannot dare to disobey the USA their survival depends on it.

The Saudis are simply following instructions from America.

Oga Saudi Arabia is not as much of a puppet as you believe. They too have ambitions and while they will not declare war or take rash decisions they can use "corner-corner" to quarrel which is what they are doing now.

Words on marble!

mikolo80:
prayer wont help you. All they need to start violence is get somebody to tear koran or make fun of the prophet and boom,crisis.too easy

This must be the most ridiculous statement I've read on nairaland.

Sorry to tell you but you seem to have a larger than life impression of Nigeria ad a country the whole world is scheming against.

Saying oil prices goes down cus of Nigeria having good leadership is utter bullocks and so ignorant.

All the opec countries and non opec oil producing countries like Denmark, Norway etc are all scheming with America to reduce oil prices cus of nigeria... wow

The recent fall in prices is due to America now producing enough oil to be a net exporter of oil.

Unlike your great Nigeria who has remained an importer of refined oil despite all your resources. Oh wait it's Obama and cia who make sure Nigeria haven't developed refineries and oh it's Clunton who fostered corruption in the oil sector, and it def was bush who cursed Nigeria with the Dutch disease (look it up on Google if you don't know what it means)

As usual nigerians spend their time finding excuses for mediocrity instead of demanding service from their leaders.

You spoke about America using loans to control Nigeria. Is this the same western countries that forgave your debt a few years ago? Was it Obama that put a gun on your head to force Nigeria to borrow? And if the loans are being used for development of infrastructure then I don't see any problems, but typical Nigerian government will steal most of it till you end up owing a large sum with no assets to back it up.


Look Nigeria has the potential to be a great nation that provides a good life for its citizens,but it in your hands so stop looking for excuses and conspiracy theories to defend the myriad of issues facing the country.

Roll up your sleeves and work hard to move the nation forward as one, eradicate corruption, stop defending bad leaders. Fix your education sector, health sector, power sector as these impact the lives of the average Nigerian and diversify the economy. Look at Norway as an example.

Excuse the typos. Typed this on phone.

GenBuhari:
I have come to realise that it is no coincidence that since 1976 whenever Nigeria has managed to get a good government, crude oil prices have been low and never improved.

After Muritala Mohammed was covert assassinate by his second in command Thief Obasanjo and America's CIA (a coup blamed on Dimka -who had been drinking throughout the night before the coup), oil prices remained high and remained high for most of the first term of President Shagari in 1979-1983.

During General Buhari's 20months, which saw him clean up corruption and start getting Nigeria on it feet, crude prices remained low and may have even gotten worse.

After Buhari was over thrown by CIA sponsored IBB, prices improved

However during General Abacha's non-corrupt and competent govt prices fell as low as $9/barrel

Since Abacha's covert assassination (poisoning) by CIA and IBB, crude prices have been steadily rising to unprecedented heights to a height of $115/barrel a few weeks ago.

Well now the USA is broke and it is no longer enough for it to make money from getting our oil very cheaply , now they want to steal pillage whatever natural resources they can lay their hands on in Nigeria at will without having to pay.

Basically stealing Nigeria's resources, by splitting Nigeria in way that leaves them in control of the resource rich regions with nobody to monitor them in the chaos they wish to create using their terrorism tactics of Ebola, Boko Haram combined with the oil price crash that they have engineered.

Oil once full to $65pb during yaradua and nigeria did not burn.

It was $9 per Barrel in 1998

Since Thief Obasanjo first PDP govt all Nigeria's assets have been sold off, our grand children's future have been mortgaged by the continuous series of huge IMF and World Bank loans, corruption out of control, at the current oil price, cost of government will probable account for our entire budget with the enormous salaries of our lawmakers, looting is astronomical, no contingency has been made for the possibility of oil price crash!!

iluvnaija:
Oil once full to $65pb during yaradua and nigeria did not burn.