You guys wanted IMF to confirm this my analogy I posted here on the day Buhari presented the budget. Read this again
https://www.nairaland.com/2818044/reasons-why-2016-budget-38#41251451

ok...we don hear

Bollinger:


I am glad you said that. With that being said, i wonder why almost everyone is blaming this present predicament on Buhari. All this didn't just start today. The only way you can blame this present administration is if everything was groovy in the past and all of a sudden things went bad. As far as i can remember, things have always been terrible in Nigeria since independence, so blaming Buhari is nonsensical. Nigerians never rate performances on how good things were; it is always rated on how bad compared to the last administration. Depending on which administration was/is in power. There is a way out of this but will the citizens accept the hard choice? I doubt it.

Becos he promised to stabilize global oil prices.

Buhari has bad luck. You can attack me but I need someone to prove me wrong. Negative news since May 29th.
It is very clear that 2016 is worse already.

Abiagirl777:
Of course let it fall to 0.0ⁿ0/$ so we can have peace
Meanwhile I want to wish Happy Christmas to the man who appropriated a large portion of the budget for further exploration of oil in the chad basin.
GIVE IT UP FOR!!!!!!!!!!

Isn't it better to shut up if you got no clue about a certain topic than poke your long mouth in blaming an administration that is completely innocent of the current crisis. Whatever happened to the past one that refused to invest for the rainy day but instead looted every dollar there is in Calabar?

I think you are the R-E-T-A-R-D here!

Goodboiyy:


I will be the happiest man if oil is sold at $1 .. chai .. praise tha lord o.. Can someone Praiz Jehova for me . The Lord they answer our prayer.. Oil is a curse To Nigeria in Particular Niger Deltans.. i really don't care if they sell oil for 30Cent.. not my biz..


May God judge our greedy leaders.. From APC to PDP all are criminals. i pity the likes of Truckpusher, Omenka , Tonyebarcanista who keeps depending those greedy politician.

May God bless You all


Truckpusher come and see good news

I do not defend any politician, I'm defending an ideology even if it is tainted somehow , a man at every point in his life must stand for something.
Politics is too important to be left in the hands of hoodlums and undesirable elements of the society.

Goodboiyy:


I will be the happiest man if oil is sold at $1 .. chai .. praise tha lord o.. Can someone Praiz Jehova for me . The Lord they answer our prayer.. Oil is a curse To Nigeria in Particular Niger Deltans.. i really don't care if they sell oil for 30Cent.. not my biz..


May God judge our greedy leaders.. From APC to PDP all are criminals. i pity the likes of Truckpusher, Omenka , Tonyebarcanista who keeps depending those greedy politician.

May God bless You all


Truckpusher come and see good news

Hallelujah o!! Now we can start sharing the dividends of Cocoa, from Agriculture and Other mineral resources especially in the North! Those thieves Up North eat like crabs.

OFFICIAL336:

Becos he promised to stabilize global oil prices.

Seriously? is he OPEC? Politicians world wide will say anything to get elected. Even Obama promised not to make America a gay nation but he was the first one to legalize gay marriage. It is your responsibility to grill aspiring public holders with questions. Questions like "how are you going to achieve this?" or "how are you going to fund your projects?". All Nigerians want are promises and they swallow it with glee even if those promises don't make sense. "i will give every unemployed person in Nigeria 5k per month" and nobody bothered to ask how it would be funded or how who would benefit be determined. Nigerians need to wake up and smell the coffee. The fault lies with it's citizens and less with leadership. Four years from now, the same mistakes will be made again. Casting votes based less on performance and credibility and more on greed, hunger and desperation.

Forwetinnah:


Hallelujah o!! Now we can start sharing the dividends of Cocoa, from Agriculture and Other mineral resources especially in the North! Those thieves eat like crabs.

This isn't just about the North only my sister - Hiw about the 13% that we've been getting , what have our regional leaders done with it ?
How about NDDC and ministry of Niger Delta , what have they done with all the money that has been given to them by the FG ?
Our regional leaders are good for nothing thieves that will pay the price for what they have done to their own people.
Until we clean up our own house , nobody will listen to us .
The Nigerian state marginalized us and this a fact that can never be disputed by anyone with conscience but how about the little that was and is still being given to us what have we used it for ?
Odili spent our money trying to buy Aso Rock for 8yrs , Amaechi spent our money to remain politically relevant , Ibori , Akpabio, Alams and all the past NDDC directors for the past 16 yrs squandered our collective wealth for their own self aggrandizement - They propped up militancy and destabilized the entire region for their own selfish interest , today kidnaping have come to stay, investors have fled the region and all manner of evil is sweeping across the land simply for their selfish interest while hiding under the umbrella of fighting the injustices meted out to the Niger Delta people.
Until we wake up and hold our leaders responsible we will continue to mourn our loses.
Our Niger Delta leaders are all shameless thieves with no conscience and wherever they are they should all hide their heads in shame.

I spit on them and they all deserve to die by hanging .

Truckpusher:
This isn't just about the North only my sister - Hiw about the 13% that we've been getting , what have our regional leaders done with it ?
How about NDDC and ministry of Niger Delta , what have they done with all the money that has been given to them by the FG ?
Our regional leaders are good for nothing thieves that will pay the price for what they have done to their own people.
Until we clean up our own house , nobody will listen to us .
The Nigerian state marginalized us and this a fact that can never be disputed by anyone with conscience but how about the little that was and is still being given to us what have we used it for ?
Odili spent our money trying to buy Aso Rock for 8yrs , Amaechi spent our money to remain politically relevant , Ibori , Akpabio, Alams and all the past NDDC directors for the past 16 yrs squandered our collective wealth for their own self aggrandizement - They propped up militancy and destabilized the entire region for their own selfish interest , today kidnaping have come to stay, investors have fled the region and all manner of evil is sweeping across the land simply for their selfish interest while hiding under the umbrella of fighting the injustices meted out to the Niger Delta people.
Until we wake up and hold our leaders responsible we will continue to mourn our loses.
Our Niger Delta leaders are all shameless thieves with no conscience and wherever they are they should all hide their heads in shame.

I spit on them and they all deserve to die by hanging .

You're so right my brother...one of the main reason I'm so skeptical about us joining this Biafra thingy, at the end only a greedy few will reap from the struggle of so many

kodded:

http://www.punchng.com/oil-could-fall-to-20-in-2016-imf/

the projected deficit would be funded from recovered stolen funds from badluck Jonathan and his wailing wailers. our indefatigable president has vowed that all the money will be recovered.

TimeManager:
@Bevista, OPEC Would Not Be Defensive, It Would Rather Be Cautious Yet Aggressive In Its Approach. OPEC Would Not Cut Production, Far From It. Opec Would Encourage More Production. Shale Oil Cannot Compete In The Long Run Because Its 'Shale'. Opec Would Maintain Its Market Share. Alternative Eneargy Is Neither A Threat To Oil. How Many Nations Would Forego A Moneyspinning Oil For Alternative Energy. OPEC Is S Till The Largest Supplier Of Oil. A Big Factor That Counts.















The Truth!

My friend... We are simply doomed to fail.... The guy who mentioned you was kinda precise with the issue on ground ... OpEC will not do any dam thing because they just control 30% of the oil .... As such there strategy have no effect on non Opec members...... I said this when PMB was given promises of taking us to the planet Mars during the election... I said it clear that crude is on the slide and any attempt to fulfill this promises will put us in a point of no return as a nation but some did not understand....


IRAN will begin her sales of crude come 2016, Isis in syria push more barrel of oil than Nigeria as country.... Isis control Lybia oil fields making the product to be in excess above the demand.


In the next 6months crude might be sold for $10 because the latest discovery of the free energy... Which is still fighting its through the congress in the US .... The defense department in the us which happens to be the highest consumer of fossil energy have already invested $7b in this new technology, thus soon it will delete crude from the face of the world..


In the light of this technology, reasonable human are still budgeting for oil exploration in Chad basin... some one Is benchmarking on $37 on the new budgets....whereb70% - 80% will be borrowed.


What has the past leaders done to improve ABA in production power

Bevista:
If oil drops to $20 next year, there would be dire consequences on the economy.
---
(1) Oil revenue will drop from N820bn to under N500bn
(2) Tax Revenue will drop by a significant amount - since PPT and CIT of oil companies contribute a lot to Tax
(3) Foreign Reserves will drop under $25bn
(4) Naira will collapse to around N300/$
(5) Budget deficit will either increase or govt won't be able to implement it's budget.
(6) Many states will not be able to pay salaries or do any capital projects.
(7) Unemployment will increase, GDP will shrink and Nigeria will officially be in a recession.
( Rating Agencies (like Moodys) will downgrade the country.This will increase the yield (interest) on our debts.
(9) The Stock Market will crash as investors run away from the country's financial assets
(10) Pension Funds who invest in the capital market will have their assets drop in value, thereby putting the funds of pensioners at risk.
etc
---
Unfortunately, a lot of people will put the blame squarely on PMB's table - with very little consideration to the fact that, over the last few years, our lazy and corrupt leaders choose to make us a Mono-Economy, refused to save for a time like this and refused to invest in infrastructure.
---
No matter how bad things get, I am 100% positive that PMB is the right man to steer us through this trying period. With all the DasukiGate and DiezianiGate revelations, GEJ & PMB would simply have been nothing but a complete disaster with such low oil prices.

Thank God,you've used your own hand to list out the worst that may happen if crude oil sells for $20.So keep on blaming GEJ and dont advice your APC leaders to do the right thing and lead Nigeria to the path of greatness because the public also know that your APC is also looting and raping the economy dry.Examples,Governor Aregbesola of Osun State and Governor Adams Oshiomhole of Edo State.
After 4 years, we shall kick your party out of the presidency for there incompetency in governance.

Forwetinnah:


You're so right my brother...one of the main reason I'm so skeptical about us joining this Biafra thingy, at the end only a greedy few will reap from the struggle of so many

Sometimes I spend sleepless nights thinking about how we ended up with so many criminals, thieves, kleptomaniacs, and dunces in the corridors of power and it seems there is no answer and there is no end in sight.

We need to put our house in order else we are doomed.

handsomeclouds:
Blame it on Badluck Jonathan
Only if Badluck had saved for rainny days
To put things in perspective, apart from the fact that the 400,000bpd amounts to US$60 billion stolen in just four years, the 400,000bpd is the equivalent of the daily crude oil production of Equatorial Guinea,” the party said.

It also said the government has not been able to account for huge sums of money, including the $20 billion missing oil funds and the funds that should have accrued to the Excess Crude Account (ECA).

“At the crude oil benchmark of $77.5 for the 2014 budget, Nigeria made $33 per every barrel of oil, which amounts to about $24 billion in a year. However, there is less than $6 billion in the ECA. What happened to the remainder?

“Also, over N1 trillion was budgeted for defence in 2014. What has the Jonathan administration done with the funds, with soldiers deployed to battle the terrorist group, Boko Haram, complaining of inadequate or ineffective equipment that are inferior to what is being used by the terrorists? What has happened to the huge funds since soldiers are being made to pay for their kits? Why has the huge allocation translated to more territories seized by the insurgents? These are some of the questions!
The party also reminded Nigerians that Ifeanyi Uba, who is the face of the so-called Transformation Ambassadors of Nigeria (TAN) that has spent over N25 billion campaigning for the president, is one of those accused of kerosene subsidy fraud.

“But instead of prosecuting him diligently, the Asset Management Corporation of Nigeria (AMCON) has settled the matter out of court and returned all his seized assets to him. How else can a government encourage corruption and impunity?” it queried.

Ur hatred for GEJ will not let U remember that he and Okonjo Iweala actually wanted to save for d rainy day but Amaechi and APC governors took him to court that they must share d money,that they are equal arms of govt,that fed govt can't be playing big brother by saving for them,bla bla bla.

henryutd:
Buhari has bad luck. You can attack me but I need someone to prove me wrong. Negative news since May 29th.
It is very clear that 2016 is worse already.

if and only if you could reason like a wise man , u would understand that badluck Jonathan was the architect of today's crisis. he met our oil in good luck, he changed it to bad luck, quoting father mbaka, the only one who told mama peace and her bad luck husband the truth. buhari is d saviour that God sent to rescue Nigeria. period.

dokiOloye:
Ur hatred for GEJ will not let U remember that he and Okonjo Iweala actually wanted to save for d rainy day but Amaechi and APC governors took him to court that they must share d money,that they are equal arms of govt,that fed govt can't be playing big brother by saving for them,bla bla bla.

you must have been misled by what you heard. gej was only interested in stealing d money

better.......nice one....
All those lazy countries with lazy leaders like ours could look elsewhere as source of capital revenue apart from crude oil.
Eela , Oobi........#oneEyesCover

God forbid!

babosky2008:

if and only if you could reason like a wise man , u would understand that badluck Jonathan was the architect of today's crisis. he met our oil in good luck, he changed it to bad luck, quoting father mbaka, the only one who told mama peace and her bad luck husband the truth. buhari is d saviour that God sent to rescue Nigeria. period.

We pray Buhari's reign has some Goodluck!

babosky2008:


you must have been misled by what you heard. gej was only interested in stealing d money

You are a big lying liar.

roughdiamond:
Nigerian citizens should just sit up. No more light at the end of the tunnel. I 'm not against this administration but it lacks measures to curb the surfacing hard time

Don't loose hope yet, this administration offers more hope than you can possibly imagine. Keep faith.

Oil peak has proven to be a myth indeed oil glut is the reality; major oil discoveries seem to be coming online almost every day, whether from Kazakhstan and all the former 'Stans' that constituted the former Soviet socialists; Russia, Africa, Israel, North America, even Oceania.

Hitherto redundant wells have again sprung to life, thanks to new and novel fracking technology; oil is now being mined offshore at depths that seemed impossible only 10 - 20yrs ago; super powers are laying claim to vast territories in the Arctic because of the game changing oil deposits that lie untapped just a few kilometers under the surface.

Throw into this mix the various sources of renewable energies and bio-fuels; strange and novel subatomic particles constantly being discovered at CERN (who knows what game changing potential they may have?).

New technologies like the Stelerator that just came online in Germany prove that nuclear fission as opposed to fusion is a viable source of nuclear energy indeed at this rate even the holy grail of fusion physics I.e. cold fusion doesn't seem impossible anymore; hydrogen power cannot be left out either, it is the second most abundant element on the Earth, it burns as well as any oil and its residue is pure H2O.

The only thing the developed west needs now is the political will to bring these new technologies into their energy mix and wean themselves of any dependence on oil; to this end they're actively pushing the 'global warming' myth because they need to bring everyone on an equal footing (re the BRICS Countries) in order to maintain their global dominance and secure prosperity for themselves and their children yet unborn (the West never does a vain thing, global warming is an imperial ideal)..

Indeed OPEC for the first time in its history refused to cut production realizing that the only way is to compete in the saturated energy market, soon Iranian oil will come on line; at this rate a barrel of oil will be cheaper than a barrel of pure arctic spring water and Nigeria who has long placed all its eggs in the oil basket will become a basket case and a veritable testament to the failure of black leadership. The 1% that have siphoned our collective wealth will run abroad with their loot, of course they will soon be dispossessed (a fool and his wealth...) and return to being theb dregs of society where they rightly belong and the rest of us will return to the Cotton fields where I daresay we rightly belong.

Good news. Enof of this nonsense wealth without work

handsomeclouds:
Blame it on Badluck Jonathan
Only if Badluck had saved for rainny days
To put things in perspective, apart from the fact that the 400,000bpd amounts to US$60 billion stolen in just four years, the 400,000bpd is the equivalent of the daily crude oil production of Equatorial Guinea,” the party said.

It also said the government has not been able to account for huge sums of money, including the $20 billion missing oil funds and the funds that should have accrued to the Excess Crude Account (ECA).

“At the crude oil benchmark of $77.5 for the 2014 budget, Nigeria made $33 per every barrel of oil, which amounts to about $24 billion in a year. However, there is less than $6 billion in the ECA. What happened to the remainder?

“Also, over N1 trillion was budgeted for defence in 2014. What has the Jonathan administration done with the funds, with soldiers deployed to battle the terrorist group, Boko Haram, complaining of inadequate or ineffective equipment that are inferior to what is being used by the terrorists? What has happened to the huge funds since soldiers are being made to pay for their kits? Why has the huge allocation translated to more territories seized by the insurgents? These are some of the questions!
The party also reminded Nigerians that Ifeanyi Uba, who is the face of the so-called Transformation Ambassadors of Nigeria (TAN) that has spent over N25 billion campaigning for the president, is one of those accused of kerosene subsidy fraud.

“But instead of prosecuting him diligently, the Asset Management Corporation of Nigeria (AMCON) has settled the matter out of court and returned all his seized assets to him. How else can a government encourage corruption and impunity?” it queried.

You are a fool, n may god judge you for opening your cursed mouth to tell lies n defame d personality of Jonathan.

Where u not aware or you are too ignorant to know that amaechi, and APC governors forced n blackmailed Jonathan's administration to share d excess crude oil savings? Even when okonjo iweala insisted that we needed to save those monies for rainy days? Please mind what you say on the social media

Abiagirl777:
Of course let it fall to 0.0ⁿ0/$ so we can have peace
Meanwhile I want to wish Happy Christmas to the man who appropriated a large portion of the budget for further exploration of oil in the chad basin.
GIVE IT UP FOR!!!!!!!!!!

Hahahahahahah.... I nor fit die for laugh o,... Babe u wicked oh..... Lol

I cast and bind IMF and it's like prediction

It is not a problem at all, we must survive be it the crude is available or not. Most of the Africans countries are surviving without having a mineral resources and still they are doing great...... Why ours is different?

Check my signature#camlimited#

Oil Palm is more profitable than crude oyel

Truckpusher:
This isn't just about the North only my sister - Hiw about the 13% that we've been getting , what have our regional leaders done with it ?
How about NDDC and ministry of Niger Delta , what have they done with all the money that has been given to them by the FG ?
Our regional leaders are good for nothing thieves that will pay the price for what they have done to their own people.
Until we clean up our own house , nobody will listen to us .
The Nigerian state marginalized us and this a fact that can never be disputed by anyone with conscience but how about the little that was and is still being given to us what have we used it for ?
Odili spent our money trying to buy Aso Rock for 8yrs , Amaechi spent our money to remain politically relevant , Ibori , Akpabio, Alams and all the past NDDC directors for the past 16 yrs squandered our collective wealth for their own self aggrandizement - They propped up militancy and destabilized the entire region for their own selfish interest , today kidnaping have come to stay, investors have fled the region and all manner of evil is sweeping across the land simply for their selfish interest while hiding under the umbrella of fighting the injustices meted out to the Niger Delta people.
Until we wake up and hold our leaders responsible we will continue to mourn our loses.
Our Niger Delta leaders are all shameless thieves with no conscience and wherever they are they should all hide their heads in shame.

I spit on them and they all deserve to die by hanging .

every single one of them ..they all deserve to die some way..The Niger delta is as good as shit. .I hope our militants who forgot about the real fight to emancipate their own people can now rest now that oil price would nose dive to nothing...collectively the Niger delta became foolish to almost an irredeemable point. ..All oil companies are now located in lagos and jobs evading indigenes of the Niger delta like never before all because of the foolishness of a few erratic humans..sea piracy and militancy has dragged us aback..


Truckpusher what do we do

/
Oil going to $20 will not be a problem especially if it is because of massive liquidation of early bullish positions. Such a scenario usually results in a flush followed by an aggressive snap back. Some call it v shaped recovery.

However, a sustained stay around $20 will be a train wreck. Nigeria and some other OPEC countries will then collapse.
/