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Nairaland Forum / Nairaland / General / Politics / Nigeria At Risk Over Falling Oil Price : FG (29655 Views)
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Re: Nigeria At Risk Over Falling Oil Price : FG by Nobody: 4:41pm On Oct 27, 2014 |
GenBuhari: It might not take that long....before we see the benefits of a non-dutch diseased economy. 1 Like |
Re: Nigeria At Risk Over Falling Oil Price : FG by Gloria3389(f): 4:44pm On Oct 27, 2014 |
Unibenstudent:applied geophysics |
Re: Nigeria At Risk Over Falling Oil Price : FG by gabriel74: 4:56pm On Oct 27, 2014 |
When the price was high and they were looting they did not tell us, Now they are telling us. 6 Likes 2 Shares |
Re: Nigeria At Risk Over Falling Oil Price : FG by ttmacoy: 5:44pm On Oct 27, 2014 |
Whilst I understand the reason behind your statement and in some way I feel the same, I am really scared of this prayer coming to pass cus the effects will be felt.more by the ordinary nigerians on the street. The politicians have stolen billions already and will continue which means less money for the citizens. All their children study abroad, they travel abroad for health issues etc. It's the man on the street who will suffer and that hurts PassingShot: |
Re: Nigeria At Risk Over Falling Oil Price : FG by Nobody: 5:46pm On Oct 27, 2014 |
hercules07: i don't understand, isn't Russia dependent on gas exportation than crude oil exports..also 70% of Europe depend on Russia for gas, so if Russia economy fails it will affect the whole of Europe. I don't think they will want to cripple Russian economy becos the amount of people that will leave Russia to other parts of Europe will sky rocket and Eu is not equip to handle such migration. Right now a lot east Europeans, i.e Albanians, turkey,e.t.c they go to Russia for work, if that option is removed the migration will double together with Russia migrants. 2 Likes |
Re: Nigeria At Risk Over Falling Oil Price : FG by Nobody: 5:49pm On Oct 27, 2014 |
Gloria3389:but whats the use if the oil is worthless, |
Re: Nigeria At Risk Over Falling Oil Price : FG by Nobody: 5:56pm On Oct 27, 2014 |
A |
Re: Nigeria At Risk Over Falling Oil Price : FG by femicyrus(m): 6:27pm On Oct 27, 2014 |
The only solution the so called finance minister can think of is to reduce the work force of nigeria under the guise of overlapping agencies! But when oil price jumps back they remain unemployed while looting will be maximised by politicians who are already feeding fat while workers can hardly survive 1 Like |
Re: Nigeria At Risk Over Falling Oil Price : FG by Mckennedy: 6:58pm On Oct 27, 2014 |
Kingspin: Oh God why should the price of our unity falling please God have mercy and bring back golf days of oil boom so that our politicians will continuously looting for unity to remain. 1 Like |
Re: Nigeria At Risk Over Falling Oil Price : FG by vineyardfarms: 7:40pm On Oct 27, 2014 |
why cant nigeria copy from Mexico which export only refined products to north,central and south America. And to other parts of the world. Nigeria has lots of market. west african,central,east, north etc. job opportunities etc. |
Re: Nigeria At Risk Over Falling Oil Price : FG by LeoSanchez(m): 8:10pm On Oct 27, 2014 |
Bought a car at Cotonou Benin Already visit www.cotonoucars.net now and apply for your car to be delivered to you in Nigeria with Accident immunity Cover for just a token. |
Re: Nigeria At Risk Over Falling Oil Price : FG by maxy097(m): 8:30pm On Oct 27, 2014 |
Those times the oil price was stable , and the government was making serious money trading crude, how was the proceeds from the sales of crude oil utilized? There's a decay in infrastructure...perennial dearth in the power sector, now they are groaning...the common man didn't really benefit from the oil boom. These mongrels in power have a lot to answer! 1 Like |
Re: Nigeria At Risk Over Falling Oil Price : FG by adconline(m): 9:12pm On Oct 27, 2014 |
OBJ left $22bn, GEJ and governors depleted it to just $4bn. GEJ and governors have nothing to show for this money! 1 Like |
Re: Nigeria At Risk Over Falling Oil Price : FG by PStacks(m): 9:18pm On Oct 27, 2014 |
Permit me to say GEJ, Ngozi and Deiziani are just about the revenue from crude oil sales and nothing more.. I pray the crude oil drys up and Nigerians wake up.. Its easy to steal crude money, isn't it.. No wonder govt steals crude oil money, Vandals vandalise pipelines to steal their own. The oil cartel are there, only God knows the amout of crude oil nigerian government can't account for everyday. The whole country is just upside-down. Yet this is fresh air. Ngozi would just speak big economic jargons to confuse us.. We are not confused ma.. One day, monkey go go market hin no go return. One day go be one day sha.. 2 Likes |
Re: Nigeria At Risk Over Falling Oil Price : FG by Gloria3389(f): 9:26pm On Oct 27, 2014 |
ikp4succes:that, I don't know...my previous answer was meant for the person who thought the oil can finish..... |
Re: Nigeria At Risk Over Falling Oil Price : FG by Afroconnect: 9:29pm On Oct 27, 2014 |
Okonjo iweala why are u always reffering to IMF and looking up to them for answers...is it now you thieves know that oil prices and demand for our oil will drop? These politicians are just deceiving us,they don't care about Nigeria,as we speak Okonjo iweala and her crew are still embezzling and misapriopriating-Nigerians must wake up and support good leaders,we must chase out these scroundrels,otherwise these people will steal us dry. We have been shouting about cutting costs and cutting reccurrent expenditure,yet these people are still appriopriating hundrds of billions for prsidency feeding and giving 250billion to a useless house of reps,who are enriching themselves. 3 Likes 2 Shares |
Re: Nigeria At Risk Over Falling Oil Price : FG by Gorgeous58(f): 10:00pm On Oct 27, 2014 |
Its high time we diversified our nation's economy. |
Re: Nigeria At Risk Over Falling Oil Price : FG by Nobody: 10:33pm On Oct 27, 2014 |
Yara Dua left $22Bn not Thief Obasanjo adconline: |
Re: Nigeria At Risk Over Falling Oil Price : FG by lucianohase(m): 11:29pm On Oct 27, 2014 |
Over reliance on oil is bad...Y can't we learn from china,india,japan even South africa how they v been making it big without having oil,but thru a diversified economy! |
Re: Nigeria At Risk Over Falling Oil Price : FG by 14(m): 12:17am On Oct 28, 2014 |
lucianohase:If she says Oil revenue makes about 4% of GDP, doesn't that mean the economy is diversified? But in another hand it makes 80% of Government budget, That happens when you have fake economy, in the name of being No.1 in africa is costing Nigeria. They cooked the numbers in the first place, now things are not adding up. If the oil price drops to $50, thats the end of Nigeria. 1 Like |
Re: Nigeria At Risk Over Falling Oil Price : FG by ghananotnaija(m): 12:45am On Oct 28, 2014 |
lucianohase: Don't forget your big brother next door: Ghana. 1 Like |
Re: Nigeria At Risk Over Falling Oil Price : FG by adconline(m): 4:55am On Oct 28, 2014 |
GenBuhari:That's not true. OBJ left $22bn in ECA for Yar'dua and GEJ |
Re: Nigeria At Risk Over Falling Oil Price : FG by Papisho(m): 5:07am On Oct 28, 2014 |
when the oil price rises(more money to embezzle) its no news, when it drops, it is news.. FG should just look into other sector for revenue generation, our Government should seize this opportunity to promote other sector and diversify instead of the plan to spend the money in the Excess Crude Account(ECA) Okonjo wake up and stop creating avenues for embezzlement. 1 Like 1 Share |
Re: Nigeria At Risk Over Falling Oil Price : FG by birdman(m): 5:27am On Oct 28, 2014 |
“We will have to look very hard at recurrent expenditure, and identify overlapping agencies. When the price is heading down everyone sees the necessity but that doesn’t stop them hating you. you are just now looking at other options? wao! see incompetence. 1 Like |
Re: Nigeria At Risk Over Falling Oil Price : FG by Nobody: 5:27am On Oct 28, 2014 |
Tell me how could a thief ever leave $22Bn it is just not believable. Can you provide your source? adconline: 1 Like |
Re: Nigeria At Risk Over Falling Oil Price : FG by ISpiksDaTroof: 5:35am On Oct 28, 2014 |
GenBuhari:You're just a pest, aren't you? |
Re: Nigeria At Risk Over Falling Oil Price : FG by TonySpike: 7:31am On Oct 28, 2014 |
GenBuhari:Since you are insistent, this link might be of help to you. Let us stop twisting facts and give out the right information. Obasanjo's regime instituted the Excess Crude Account (ECA) in 2004 and saved a whooping US$20 Billion jointly squandered by Presidents Yaradua and Jonathan within 5 years! http://www.channelstv.com/2012/04/13/fg-blame-governors-for-depletion-of-excess-crude-account/ |
Re: Nigeria At Risk Over Falling Oil Price : FG by TonySpike: 7:36am On Oct 28, 2014 |
The Wealth and Poverty of a Nation: Who will restore the dignity of Nigeria?” delivered at the 42nd Convocation Ceremony of her alma mater, the University of Nigeria, Nsuka (UNN); allegedly accused the Yar Adua Administration and the Jonathan Administration of squandering the $67billion in Reserves left by the Obasanjo Administration in May 2007. We perused her keynote address, and here is what she actually said in respect of this issue: “…Furthermore, it is happening back to back with the squandering of the significant sum of $45 Billion in foreign reserve account and another $22Billion in the Excess Crude Account being direct savings from increased earnings from oil that the Obasanjo administration handed over to the successor government in 2007. Six years after the administration I served handed over such humongous national wealth to another one; most Nigerians but especially the poor continue to suffer the effects of failing public health and education systems as well as decrepit infrastructure and battered institutions. GenBuhari, the above quote might also be of help. It is an excerpt from Oby-Ezekwesili's speech. http://standardtimespress.org/?p=3362 |
Re: Nigeria At Risk Over Falling Oil Price : FG by TonySpike: 7:44am On Oct 28, 2014 |
Isn't it obvious that the Nigerian economy has been grossly mismanaged over the past 7 years? How can over US$20 Billion dollars just vanish without commensurate development on ground. The Excess Crude Account was established to keep the income accruing from improved oil prices in the international market. As at this morning, there is no more excess income on oil. Let's see how the Nigerian economy will fare; things are about to start happening. 1 Like |
Re: Nigeria At Risk Over Falling Oil Price : FG by SkySpirit(m): 8:22am On Oct 28, 2014 |
stalyf: Also, we need to develop our solid minerals sector and promote our local industries. 1 Like 1 Share |
Re: Nigeria At Risk Over Falling Oil Price : FG by stalyf(m): 9:02am On Oct 28, 2014 |
SkySpirit: I agree with you. |
Re: Nigeria At Risk Over Falling Oil Price : FG by InvertedHammer: 9:37am On Oct 28, 2014 |
Okonjo Iweala is a paper tiger. She has no slightest idea of what she is doing. She worked in a system designed as plug and play. Challenged with moulding an economy unsupervised by the Western masters, she continues to look like a deer caught in a headlight. I bet you that a serious-minded economist from University of Ibadan or UNN could do better. \ |
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