Abugab:
Some respite
The sure way to go is diversification into agriculture, solid minerals, marinetime amongst others or we shall keep seeing the crash in crude oil prices and lack of buyers as alternatives are being developed.
Our over reliance on crude oil is a disease we must cure now or never

And this administration is quite aware of this and has taken up the challenge. At every opportunity he has, PMB has always reiterated his resolve to develop agriculture and mining. In my primary school days in the early 80's, we were taught Enugu is referred to as the Coal city because of the cacophony of coal in that city. But where is Enugu in terms of coal today? I believe that the present administration is not that keen on crude oil only because of the way they have met the treasury and the kind of graft that has been going on in the sector. As for me, I'm keeping my fingers crossed.

Jonathan's administration announces its intention to make trading of Nigerian crude to be done locally by Nigerian brokers.

Less than a week later, a Swiss based NGO comes out with a damning report on shoddy dealings in the NNPC and Ministry of Petroluem.

Less than 3 days after this damning fake report which had no basis, the governor of the CBN comes out to lend credence to this fake report by stating an obvious incredulous lie that $50bn oil revenue was missing!

An indepent forensic report has since debunked Sanusi's allegations as total false.

Today, Sanusi has since been appointed VP Blackstone for Africa.

The number of traitors walking in the corridors of power in Nigeria today is mind buggling.

well dis is good news

egift:


Thank God you did not claim it is Jonathan's effort that made it happen. Have a nice day bro.

Don't worry, tell your Buhari to borrow from the US in advance of oil from my region.

When we finally pull out, let me see how your pathetic Nijeriya will repay that loan.

Parasitic bastards

razid:

And this administration is quite aware of this and has taken up the challenge. At every opportunity he has, PMB has always reiterated his resolve to develop agriculture and mining. In my primary school days in the early 80's, we were taught Enugu is referred to as the Coal city because of the cacophony of coal in that city. But where is Enugu in terms of coal today? I believe that the present administration is not that keen on crude oil only because of the way they have met the treasury and the kind of graft that has been going on in the sector. As for me, I'm keeping my fingers crossed.

That's the prayer of every well meaning Nigerian for this govt to help get our groove back as a nation. I have high hopes for this govt and pray they succeed. We are on the same boat.

Abugab:


That's the prayer of every well meaning Nigerian for this govt to help get our groove back as a nation. I have high hopes for this govt and pray they succeed. We are on the same boat.

And it all boils down to selling Niger Delta oil?

You see how parasitic and clueless you yeast culture Nijeriyans are?


Better get ready to wean yourself of our oil.


Parasites.

razid:

And this administration is quite aware of this and has taken up the challenge. At every opportunity he has, PMB has always reiterated his resolve to develop agriculture and mining. In my primary school days in the early 80's, we were taught Enugu is referred to as the Coal city because of the cacophony of coal in that city. But where is Enugu in terms of coal today? I believe that the present administration is not that keen on crude oil only because of the way they have met the treasury and the kind of graft that has been going on in the sector. As for me, I'm keeping my fingers crossed.

For over 50yrs you have been depending on oil for everything is it now that you want to use our oil to develop your agricultural sector?

Tomorow some of you ediots will say it was your useless groundnut and cocoa economy that developed crude industry.

Till today, the north benefits billions mainly derived from oil to subsidize agriculture.

How much of this money goes back to the ND for ecological clean up and to subsidize indigenious farmers in the ND?

Let me make it clear to you parasites, Niger Delta oil will no longer fund your evil nation.

Everyone that has wasted a minute of their precious time on this BALDERDASH thread is a LOSER FOR LIFE, especially the APC SANITARY PAD FANATICS

Wailers

USA resumes crude oil import from Biafra.


That's the original News
NIZOORIA doesn't have oil.

Don't rejoice

.Two Nigerian grades, including at least two cargoes of flagship crude Qua Iboe as well as Bonga, were said to be heading to US east coast refineries as well potentially down to the US Gulf Coast, traders said.

“[size=13pt]It is bits and pieces, not massive flows,” one crude trader told US-based energy publication, Platts[/size].
Exports of Nigeria’s major crude grade, began declining rapidly from July 2014 to zero level by the end of last year following increased shale oil production by the US.

Keep in mind....the US is nearly self sufficient in oil production. They cannot import everything from us.

Nigeria needs to get off oil.

WombRaiders:
[size=18pt]All wars are bankers wars![/size]

Jonathan was one of many victims of an ongoing currency war between America and BRIC nations.

America's only strength today is the worthless dollar. Dump the dollar and watch America collapse.

This is why they took out Qaddafi, Chavez and are fighting Assad .

When Jonathan wisely opted to diversify our reserves in other currencies and precious commodities and was moving more and more closer with China, the US hit back with Boko Haram and suspended buying our crude as well as getting their evil ally Saudi Arabia to flood the market with too much oil.

The US stance was and still remains that if we choose to diversify our reserves from the dollar, they will stop buying our crude. That is the simple truth and it had nothing to do with Fracking or any useless amnesty report or phantom missing girls.

Buhari and the APC were specifically propped and supported by the US to steer Nigeria back to neocolonialism controlled from Wall Street!

Just wait and see Buhari take out a $50bn IMF/World Bank to ensure that for the next 40yrs we and our grandkids remain slaves to western banks. All the noise about "no money" is specifically geared towards making the average Nigerian accept a bank loan from the IMF! If you borrow in dollars you are expected to pay back in dollars and for you to do this you must save in dollars! This is just the tip, as devaluation, redundancy in the civil work force and sale of govt assests and natural resources will follow. Blackstone is already in town shopping for which part of our country they want to buy cheaply!



This is the real motive behind all that change nonsense!

never mind the myopic ones here screaming wailers. What an irony. They never look at anything objectively.

So the US should build you refineries?

Basildvalour:
Build us functional refineries and that's all we ask. Damn US!


If they should see our crude, then we should be selling to them and not them refining for us.

It does not really matter if US buys our Oil or not.
There are many countries waiting to bu the Bonny Light Crude from Nigeria.

One should not forget that the Oil reserviors are almost used up and it is worrissome to sell crude at such a low price.

So these countries are only taking advantage of tweak that they have created to crash oil prices.

Nigeria should star created a good reserve or else we will be in trouble in 10 years time

jimi4us:
False information. Besides with how much a barrel. When Iran is planning of coming on board. Make we continue to deceive our self with the SS and SE oil. Make una no go sell tomatoes and cocoa powder to take make money.

Must u attach tribalism to any comment?.... Wat kind of divided country is dis

jimi4us:
then take your eyes off our wealth. Leeches

which wealth
you people will never learn, you want to become president , vice president, SSG, ministers etc but forgetting you need to build alliances to get there.
This is the advantage and knowledge the west and the north over you guys,. keep insulting west and north , when elections is around the corner you will eat your words I mean vomit

am in tears as am reading this because this is marking a new beginning to the change we long for.
monies realized from these sales can finally get us what we have been praying for.
development, education, health etc

If u open ur EVERTON to d book of NAISMITH chapter 3vs1, it says "Every proud Jose calling u a failure at the beginning of ur season will end up being a failure themselves"

Nairalanders pls understand the "time" They got their ass wooped

Irony of a nation

Why is it only northerners that are happy that US is buying crude

WombRaiders:


For over 50yrs you have been depending on oil for everything is it now that you want to use our oil to develop your agricultural sector?

Tomorow some of you ediots will say it was your useless groundnut and cocoa economy that developed crude industry.

Till today, the north benefits billions mainly derived from oil to subsidize agriculture.

How much of this money goes back to the ND for ecological clean up and to subsidize indigenious farmers in the ND?

Let me make it clear to you parasites, Niger Delta oil will no longer fund your evil nation.

I don't talk to strangers!!! My mummy said that I should not talk to strangers especially the aggressive ones.

This is a proof that past administration was ran by dumb ass niggaz.

knostbrown01:
Kakistocracy!!! Must US buy oil before we survive?

ahhh,you better pray they buy in fact any country DAT has nothing to sell to the us is doomed for life,they are the highest consumers of anything on this earth...

knostbrown01:
Kakistocracy!!! Must US buy oil before we survive?

u must be reasonable... see the way we jubilate because u.s is being our oil. as if they are doing us a favor. there are over 100 countries in the world that can buy our oil if we have right thinking set of leaders.

More like OBamoPhobia

knostbrown01:
Kakistocracy!!! Must US buy oil before we survive?

Flets:
Nigerians should not get carried away

Due to the fall of crude prices, shale oil production has become unproductive. As such, US has resumed increased import of foreign crude oil but at a pre-agreed cheaper rate than global prices.

The US resumed crude import came at a price. The first is sales at rates cheaper than global prices and the second is the installation of Ex Mobil Director Kachikwu as NNPC GMD to protect American interest.

A careful look at the write-up indicates that the onshore crude being purchased is Mobil's Qua Iboe crude (american interest) and the other unsaid story is that its currently being sold at $29.60 below global prices of $45+.

Enough of the noise, Nigeria aint gaining.

THRASH!! GIBBERISH!!! TREASON!!!!!! you are talking bullocks....

4rm baba go slow to baba sharp sharp......sai baba......u are truly d chosen 1.

WombRaiders:
[size=18pt]All wars are bankers wars![/size]

Jonathan was one of many victims of an ongoing currency war between America and BRIC nations.

America's only strength today is the worthless dollar. Dump the dollar and watch America collapse.

This is why they took out Qaddafi, Chavez and are fighting Assad .

So Qaddafi and Assad the dictator is our role model.

While the West played a key role in kicking out Ghaddafi, I would say that decades of repressive rule, and bigotry played their part.

(Chavez had cancer. Simples. ).

When Jonathan wisely opted to diversify our reserves in other currencies and precious commodities and was moving more and more closer with China, the US hit back with Boko Haram and suspended buying our crude as well as getting their evil ally Saudi Arabia to flood the market with too much oil.

Boko Haram was there long before GEJ thought about coming into office. And the corruption in the NA messed up the fight against Boko. That and decades of Northern misrule, ignorance of the youth issues, illteracy, religious intolerance, etc. And the war was mishandled.....GEJ fought it like a war....and not like the unconventional war it really was. Buhari too in my opinion is focusing too much on the ground war.

When you fight Boko....you fight it unconventionally.

And we have been getting close to China for years.....and are still close to the US. Plus...them Chinese can't buy our oil .....and they weren't buying it.

The US stance was and still remains that if we choose to diversify our reserves from the dollar, they will stop buying our crude. That is the simple truth and it had nothing to do with Fracking or any useless amnesty report or phantom missing girls.

The problem with you oil jokers is that technology to extract oil has improved. It is not just fracking. In 1996....US bought half our oil. Now they buy 3% . They also buy less of Saudi and the UAE's oil. And the US is increasing domestic production because the average American wants to buy oil cheap at the pump,

And everyone is now producing oil.

That is why the oil price is falling.....and that is why lazy Nigerian must get off oil....and build real industrial plants,. not assembly plants.

Buhari and the APC were specifically propped and supported by the US to steer Nigeria back to neocolonialism controlled from Wall Street!

The same North that hates America with a passion. The same Buhari that was not the friend of the US back in 84? Tell me another joke.

Just wait and see Buhari take out a $50bn IMF/World Bank to ensure that for the next 40yrs we and our grandkids remain slaves to western banks. All the noise about "no money" is specifically geared towards making the average Nigerian accept a bank loan from the IMF! If you borrow in dollars you are expected to pay back in dollars and for you to do this you must save in dollars! This is just the tip, as devaluation, redundancy in the civil work force and sale of govt assests and natural resources will follow. Blackstone is already in town shopping for which part of our country they want to buy cheaply!

In 2014.....oil was at 150 dollars a barrel. Now it is below 50 dollars a barrel.

Also....GEJ depleted our savings. By as much as $20bn. We were not saving money well.

And we will borrow not because we are slaves....but because in an oil rich economy....when the barrel prices are high....we spend more and spend more. When the price drops....we borrow to keep up our high spending ways. If GEJ was in power....we would have still HAD to take a loan....and we were taking loans under GEJ.

tHAT IS THE PRICE OF A DUTCH DISEASED ECONOMY.





Look mac, I am not here to defend Buhari.....I am here to attack the idea behind your post....that everything is someone else's fault. If GEJ had been honest with us from day one and told us that the money had not been enough, and had run a tight government.....with diversifcation....not assembly plants where we have to import the materials to assemble cars....while Ajaokuta sits idle......we would still have had a hard time, but we would be on the road to freedom from dependency.

And that is what Buhari has to do. He has to diversify our economy from oil. We may have to tighten the belts. Because....we are not a rich county. We produce the same amount of oil as the UAE.....and the UAE IS PROSPEROUS BECAUSE THEY HAVE JUST 10MILLON people while we have 170 million people. If APC , PDP and co do not face the fact that we are dependent on oil....and that the oil money is not enough....we will be in more trobule than we are now.


Nigeria must get off oil. Oil is a curse.

Baba's visits always produce results

Seriously I don't really understand this this topic,just expecting more from the present govt.