kobonaire:
Really?? You have no faith in your country's skilled labour market that you think China has to import workers for a large scale railroad project??

Better than a photo up and handshake.

We don die finish be dat oooh,


But if Nigeria wants to also hold dem in ransom , PMB should lias with other major african countries that imports massively like Nigeria from china. Let me see how their economy will grow. Correct me if u think otherwise. 80% of china's products both standard and substandard products ends up @ d shores of african countries, thereby booming their revenue, if africa can withdraw, den china will hear nwiiiiiiii.









But how can we withdraw. When we re not self sufficient in terms of production, 90% of what Nigerians use are imported, most of dem from china, likewise so many other african countries.



I think this chinese decision is not in any were connected to d just concluded G7 summit in germany, china was not in attendance + india.

The united states once bought 1 million barrels of oil per day and yet Nigerians are still wallowing in poverty like this. o my country people. our leaders have really cheated us.
we must rise up and do something

AhmedMustapha:
The government would have to retreat and become innovative
-No more magic money

Yes, no more hand outs to pple sitting idle and moving files from desk A to desk B, People will have to go out of their way to bring something valuable to the table and not just sitting on the table.

Oga to find tray make we dey hawk the oil around o

We seem to have been victims of US policies in the last couple of years under GEJ so why ignore China at our own peril.
No matter the reasons some of us have given, i personally believe the move by China is purely political and in politics you give reasons for your actions.I think they acted in response to the new government's courtship with the west and the reason they have given is better than barring a media house from covering presidential events citing security and FAMILY reasons.

When US stopped buying our crude, GEJ's government was smart enough to quickly look for new buyers so we expect APC to even do better.

persius555:
A saudi oil minister last month on bloomberg insisted they would hold it out until shale producers cant finance their expensive shale production. Quoting him, If they cut production and prices go up, guess who would step in and fill the gap? Saudi has enough to fund its budget deficit for four years, cant say the same for nigeria. PMB just has to summon courage, diversify our economy. Manufacturing, steel production, mining, power sector revitalization, agriculture, refinery. Revitalising these sectors is key to economic development. Many third world countries are doing well without oil, we should get our acts together, its time nigeria invoke that industrial spirit that we are known for. Who needs china or USA, India is walking this path, its time we follow suit.

We just let Delta Steel die cos of Oil. Funny thing is that the products manufactured by DSC are consumed by Oil industry. Shame shame shame

persius555:
A saudi oil minister last month on bloomberg insisted they would hold it out until shale producers cant finance their expensive shale production. Quoting him, If they cut production and prices go up, guess who would step in and fill the gap? Saudi has enough to fund its budget deficit for four years, cant say the same for nigeria. PMB just has to summon courage, diversify our economy. Manufacturing, steel production, mining, power sector revitalization, agriculture, refinery. Revitalising these sectors is key to economic development. Many third world countries are doing well without oil, we should get our acts together, its time nigeria invoke that industrial spirit that we are known for. Who needs china or USA, India is walking this path, its time we follow suit.

Indeed. I agree .

we might end up regretting why we havent descended on our leaders that have looted the nation without investing for tomorrow..oil oil oil..soon we would start drinking the oil...let us explore the oil more sef so that we use it internally to drive industrialization NO WAY.!!!...na so so thief full everybody brain...soon our oil would be like h20 to us since other countries would be opting for better sweet crude and for shale oil..imagine what we would have accomplished with oil monies since 1960...

Acid test 4 APC. a lot of woes since inauguration, economic disaster smelling. in d just concluded World Economic Forum, foreign investors has found Ethiopia more conducive & r shifting from Nigeria with our own Dangote building a massive cement plant. time 4 human resources 2 be harnessed 4 survival & i see wise men from d east being recognized economic wise ds time.

arimahoseloka:
The united states once bought 1 million barrels of oil per day and yet Nigerians are still wallowing in poverty like this. o my country people. our leaders have really cheated us.
we must rise up and do something

i have said it that one day no one would go out to vote,rather we mob our leaders and strangle each of them right at their homes...its going to dawn on us pretty soon...this is a nation that has so much but has decided to pitch its tent solely on oil and its proceeds...desperate times calls for desperate measures...we would have no choice but to divest and explore other means of generating revenue for the country other than oil...I think at some point true federalism would be agreed by all for all of us to move forward and not starve to death...

chigoizie7:
We don die finish be dat oooh,


But if Nigeria wants to also hold dem in ransom , PMB should lias with other major african countries that imports massively like Nigeria from china. Let me see how their economy will grow. Correct me if u think otherwise. 80% of china's products both standard and substandard products ends up @ d shores of african countries, thereby booming their revenue, if africa can withdraw, den china will hear nwiiiiiiii.









But how can we withdraw. When we re not self sufficient in terms of production, 90% of what Nigerians use are imported, most of dem from china, likewise so many other african countries.



I think this chinese decision is not in any were connected to d just concluded G7 summit in germany, china was not in attendance + india.

Contrary to what you've stated, i think Africa represents a much smaller though significant part of the global economy. We can't be consumers of 80% of Chinese products.

MyPWisINCORRECT:
[size=15pt]We can sell our Bonny Light Crude to Tinubu.

Shei he is interested in soaking himself in oil? He can as well use it to oil his ailing political machinery[/size]

Hahahahahahahahahahahahahahahahahahahahahahahahahah. U are so funny bro. Nicely said.

MugabeRobert:


Bros, carry ya oyel go joor. Brouhaha!!!

Today is the happiest day of my life.

some people are just happy that nigeria is collapsing. cant you people just support this administration.

MyPWisINCORRECT:
[size=15pt]We can sell our Bonny Light Crude to Tinubu.

Shei he is interested in soaking himself in oil? He can as well use it to oil his ailing political machinery[/size]

chigoizie7:
We don die finish be dat oooh,


But if Nigeria wants to also hold dem in ransom , PMB should lias with other major african countries that imports massively like Nigeria from china. Let me see how their economy will grow. Correct me if u think otherwise. 80% of china's products both standard and substandard products ends up @ d shores of african countries, thereby booming their revenue, if africa can withdraw, den china will hear nwiiiiiiii.









But how can we withdraw. When we re not self sufficient in terms of production, 90% of what Nigerians use are imported, most of dem from china, likewise so many other african countries.



I think this chinese decision is not in any were connected to d just concluded G7 summit in germany, china was not in attendance + india.

China itself is a timebomb like russia pre soviet era. Its heavily dependent on africas cheap raw materials for its industries. Africa uniting against china? I dont see that happening soon.

Sincere4u:


Contrary to what you've stated, i think Africa represents a much smaller though significant part of the global economy. We can't be consumers of 80% of Chinese products.

Ok, please tell me more, I am eager to learn.

MyPWisINCORRECT:
[size=15pt]We can sell our Bonny Light Crude to Tinubu.

Shei he is interested in soaking himself in oil? He can as well use it to oil his ailing political machinery[/size]

Hahahahahahahahahahahahahahahahahahahahahahahahahah. U are so funny bro. Nicely said.

Hakagure:
We will be forced to innovate and adapt or we will continue suffering as a supplier of raw materials, Nigeria needs to stop being so dependent on oil sales. Give the oil to the people and tax them 50% of Net Profit if that is what is needed. we need a larger tax base and a smaller government. The way to go is a hybrid economy (services, manufacturing, tech, finance and resources)

and guess what...we have the human resource to drive all our dreams...this country dey vex me ehn....delta steel has gone defunct,the textile industry dead,agriculture(though revamped during the GEJ tenure),rubber,cotton,cocao,tin etc...all dead because of oil ooooo....I think there is some juju somehwere thaat has said nigeria must incessantly be useless and not think and move forward...

We can be the kings of africa in every way but here we aare struggling to even generate and use constant electricity...

AhmedMustapha:
Why?

because he stopped being their puppet.

persius555:
China itself is a timebomb like russia pre soviet era. Its heavily dependent on africas cheap raw materials for its industries. Africa uniting against china? I dont see that happening soon.

Damn it, we re so fucking dead, @least for d next 2-4yrs, we go suffer well well.

persius555:
A saudi oil minister last month on bloomberg insisted they would hold it out until shale producers cant finance their expensive shale production. Quoting him, If they cut production and prices go up, guess who would step in and fill the gap? Saudi has enough to fund its budget deficit for four years, cant say the same for nigeria. PMB just has to summon courage, diversify our economy. Manufacturing, steel production, mining, power sector revitalization, agriculture, refinery. Revitalising these sectors is key to economic development. Many third world countries are doing well without oil, we should get our acts together, its time nigeria invoke that industrial spirit that we are known for. Who needs china or USA, India is walking this path, its time we follow suit.

Thankfully a sensible post. I really wonder why people are trembling over China's decision. I say it without any apology, Oil has been a curse to us!!

At the peak of the oil boom, when it hovered around 15o/barrel, what difference did it make? is it not for politicians to arrogate to themselves stupendous perks? or engage in unbridled stealing?

let all buyers abandon us or better still let the reserves dry up. perhaps then we will be forced to get our lazy asss up, look inwards and diversify

Kennywills7:
İnteresting
Buhari better do something fast, if not d curses dat people will impose on him will b worst than dat of gej
İf u don't act fast and find buyers for d crude oil, b prepare to receive insults even from ur own supporters
We all know more than 70% of our revenue is goten from oil
So if we can't sell that means no more billions to b allocated to states to pay workers, not to talk of building bridges

Yes he should do something fast as the Niger Delta Right Activists will soon block her oil and crumbling the Nigerian Economy more.

atlwireles:


China is buying more than 50% of Angolan crude, both products are almost the same. As we speak today, the President of Angola is in China for a $25B package. Keep waiting on Obama and Cameron , all you get are photo ups and a good handshake.

One thing most people do not understand is business dynamics. This is world politics and economy. China cannot be busy keeping your economy running by helping buying off your crude and you are busy gallivanting with their biggest competitor USA snapping selfies that do not benefit your economy by one dollar.

A reason has to be put up simply. GEJ major sin is not being a USA and Britain ass licker like OBJ and puppet Buhari. Nigerians will soon find out.

kenex4ever:
because he stopped being their puppet.

And the electorates never knew this?

arimahoseloka:
The united states once bought 1 million barrels of oil per day and yet Nigerians are still wallowing in poverty like this. o my country people. our leaders have really cheated us.
we must rise up and do something

I am loving the fact we might have to learn the hard way. When a few of us kept telling most nigerians to open their eyes to the wastefulness of politicians they didn't listen. Now poverty should force them to.

Anyi3:
It's a wonder this OP didn't even read his link
You just rushed to fish out the political side to just heat up things.

If you read the two quotes below in that article, you would have understood better. Nigeria's crude is light.

"China likes crude oil that is heavy and sweet, as it fits the appetite of its refineries that produce a lot of fuel oil to keep its industrial and manufacturing economy running, according to a data from the US Energy Information Administration, EIA."

"Consequently, China ignores Nigerian crude for now, as their demand for light sweet crude oil is very sparse."

Do you believe china just discovered that our oil is light crude?

Forgiveness is a sin in china.

MugabeRobert:

Eeya!!!
So, afteral ya oyel is worthless? LWKMD.

now, it's now his oil but na ur fellows get all d oil blocks.

chronique:
Damn! We're in for a long sweet 4 years.

sai baba

zoelife:


True talk!
But the real question is Does Buhari know how to do this? Can he handle economic issues as these?

Cos I see him only competent in issues if Security and Corruption.

Seems like all he's interested in.

Aye o le.

My dear that's the big question!
I just hope and pray for the best

AhmedMustapha:

And the electorates never knew this?

how will they know when they are deep rooted in tribalism and hate.

kipesco:


Yes he should do something fast as the Niger Delta Right Activists will soon block her oil and crumbling the Nigerian Economy more.

Bros take am easy, nor go threaten d old man with dis one o abi u wan kill am?
btwn am from d Niger Delta