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Nigeria Revenue Drops To 5-year Low As Tax, Oil Income Fall / Nigeria’s Gas Revenue Drops By 50% / Power Generation Drops By 1,100mw As Egbin Workers’ Crisis Persist (2) (3) (4)
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Nigeria’s gas revenue drops by 50% by Lighthouseman: 8:07am On Dec 25, 2015 |
Gas proceeds from the Nigeria Liquefied Natural Gas and others have dropped by 50.2 per cent from $169.728m in January, the latest data from the Nigerian National Petroleum Corporation have showed.http://www.punchng.com/nigerias-gas-revenue-drops-by-50/ |
Re: Nigeria’s gas revenue drops by 50% by Demmocrats(m): 8:12am On Dec 25, 2015 |
1 Like |
Re: Nigeria’s gas revenue drops by 50% by yanabasee(m): 8:22am On Dec 25, 2015 |
“The trend, which will persist till the end of This is the same reason why china is fighting haplessly to ensure that their currency becomes a tradeable currency and as well an independent currency. Dollar depreciation seems to affect every other country who uses it to trade in the world market. This depreciation became visible when the US central bank implemented quatitative easing measures by encouraging investors to borrow money... As such making US dollar not to be in parity with its other counterpart. 14 Likes 1 Share |
Re: Nigeria’s gas revenue drops by 50% by ShowYourCertificate: 8:25am On Dec 25, 2015 |
And some guys are saying we will be borrowing 1.84 trillion naira to effect the budget. The truth is that we will end up borrowing more than 3 trillion naira if we ever want the budget to be 70% implemented. Is that feasible? Let's watch and see. Meanwhile a dullard is in the helm of affairs 42 Likes 1 Share |
Re: Nigeria’s gas revenue drops by 50% by TonyeBarcanista(m): 8:33am On Dec 25, 2015 |
yanabasee:It's like you don't understand the main problem. Saudi Arabia has been pumping more into the market, this means excess supply. USA and Australia that were hitherto our customers are now our competitors in the market. Iran is resuming pumping more in 2016. The oil price crash is following a natural order. 15 Likes |
Re: Nigeria’s gas revenue drops by 50% by yanabasee(m): 8:50am On Dec 25, 2015 |
TonyeBarcanista: We are on the same page sirree... I am looking at it from the currency perspective.... Now, the US dollar is a flat currency, meaning, it's not backed by any tangible commodity. From the implementation of the qualitative easing measures by the US Central Bank more money is created for borrowing, which makes the law of supply and demands to step in. Making the existing more less valued.. This law of supply and demand defines the effect that the availability of a particular product and the desire (or demand) for that product has on price Generally, if there is a low supply and a high demand, the price will be high. In contrast, the greater the supply and the lower the demand, the lower the price will be. This is as a result of monetary policy. 8 Likes |
Re: Nigeria’s gas revenue drops by 50% by Lighthouseman: 9:39am On Dec 25, 2015 |
This fall in commodity prices will lead to economic and social disorder in countries such as Nigeria that are solely dependant on oil. You will see lots of strike action by labour, trade unions, students etc. We might be experiencing a hyper inflation. This is made worse by our inability to refine our petroleum products leading to depletions of the already scare forex. Agric which every one is clamoring for is not that easy because it is capital intensive, time bound and dependant on biological factors and finally market at a time commodity prices are low. Nigeria may have to consider the north Korea option to survive or the Iranian model of survival under sanctions. I must add that this is a self inflicted sanction on Nigerians by the ruling class over the decades. 14 Likes 3 Shares |
Re: Nigeria’s gas revenue drops by 50% by looseweight: 8:21am On Dec 26, 2015 |
Which way naija?? 1 Like |
Re: Nigeria’s gas revenue drops by 50% by Atmmachine(m): 8:21am On Dec 26, 2015 |
Thank you lord. I hope it drops by 100% so the people who voted for Buhari would see the good work he's doing. I wish Buhari would be the President of Nigeria for 50 years. Buhari till 2056 14 Likes 1 Share |
Re: Nigeria’s gas revenue drops by 50% by iteleaye(m): 8:21am On Dec 26, 2015 |
Iwe kiko la i si oko ati ada, ko i pe o, ko i pe o, ise agbe ni ise ile wa, eni kosise a ma JALE... a ma JALE!!! They forgot agriculture, concentrated on oil and gas... Even dodo sef, i sure say we dey import... 3 Likes |
Re: Nigeria’s gas revenue drops by 50% by ZUBY77(m): 8:23am On Dec 26, 2015 |
Another bad news. I hope the special 'budget of change' covered all this. Intelligent governments always know this things long before it happens. 4 Likes |
Re: Nigeria’s gas revenue drops by 50% by virginboy1(m): 8:24am On Dec 26, 2015 |
Why is everything just going down na? God help us. 2 Likes |
Re: Nigeria’s gas revenue drops by 50% by ChinonsoDike2: 8:25am On Dec 26, 2015 |
It's the beginning of the end. Nigeria is in for a rough ride in 2016. 3 Likes |
Re: Nigeria’s gas revenue drops by 50% by PrinceChester: 8:25am On Dec 26, 2015 |
Buhari why? With the way Nigeria is going down, they might soon discover Hell Fire!!" 23 Likes |
Re: Nigeria’s gas revenue drops by 50% by amarachi06(f): 8:25am On Dec 26, 2015 |
All l want is to pay less when entering public transport cos l dn't hav a car. 4 Likes |
Re: Nigeria’s gas revenue drops by 50% by Nobody: 8:25am On Dec 26, 2015 |
Kilode |
Re: Nigeria’s gas revenue drops by 50% by Dindondin(m): 8:25am On Dec 26, 2015 |
Price of domestic gas should pls drop 3 Likes |
Re: Nigeria’s gas revenue drops by 50% by pretydiva(f): 8:25am On Dec 26, 2015 |
Hmmm..it is well |
Re: Nigeria’s gas revenue drops by 50% by dunkem21(m): 8:26am On Dec 26, 2015 |
No, it actually increased by 50% .. I thought the minister of information said we should never bring negative news to limelight 4 Likes |
Re: Nigeria’s gas revenue drops by 50% by Generalkorex(m): 8:26am On Dec 26, 2015 |
May God help Nigeria o . 1 Like 1 Share |
Re: Nigeria’s gas revenue drops by 50% by Nobody: 8:26am On Dec 26, 2015 |
The massive looting that took place during GEJ's tenure has finally brought Nigeria to its knees. Greece would be child's play come 2016. The wicked Jonathan government fleeced our money when oil prices were sky high. The price is now projected to be at $20/barrel in the first quarter of 2016. Now is the time for Buhari to be decisive and put this wicked, insensitive, clueless, heartless, corrupt and pouchy man in jail. Recorver the loot of him and his cohort and draw a strong and hard economic recovery policy. There is not much he can still do because the man called GEJ destroyed Nigeria! -CramJones 23 Likes 1 Share |
Re: Nigeria’s gas revenue drops by 50% by ritababe(f): 8:26am On Dec 26, 2015 |
PrinceChester: lol with this current economy i think we have discover it already and you are the prince. 4 Likes |
Re: Nigeria’s gas revenue drops by 50% by boxypane(m): 8:27am On Dec 26, 2015 |
Its going 2b tough for dis country in 2016, notwithstanding, we have d human resource to scale through. Naija should return to Agri-Biz... Its time we rebrand ourselves 2d world. 1 Like |
Re: Nigeria’s gas revenue drops by 50% by virginboy1(m): 8:27am On Dec 26, 2015 |
TonyeBarcanista:This is scary. |
Re: Nigeria’s gas revenue drops by 50% by Memphis357(m): 8:28am On Dec 26, 2015 |
More untold hardship for Nigerians. 2 Likes |
Re: Nigeria’s gas revenue drops by 50% by TonyeBarcanista(m): 8:29am On Dec 26, 2015 |
virginboy1:Na to beg Saudi Arabia to pity us walahi. |
Re: Nigeria’s gas revenue drops by 50% by saintkel(m): 8:29am On Dec 26, 2015 |
Summary and implication to economy please |
Re: Nigeria’s gas revenue drops by 50% by DirtyGold: 8:30am On Dec 26, 2015 |
How sad. But why is nigeria afraid of also exploring the idea of quantitative easing like that of the USA? |
Re: Nigeria’s gas revenue drops by 50% by Nobody: 8:31am On Dec 26, 2015 |
It's high time we focus on other means of income for our dear nation. Nigerians should try and encourage small scale and large scale farming. But how do even encourage agriculture when lands needed for it are getting more expensive on a daily basis? Nigerians; back to your farms! The agricultural sector should be revived by every one of us! I pray God opens the eyes of the youths of this nation on the huge benefit of agriculture! #BringBackOurAgriculture |
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