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Nigeria: U.S. Organizes Global Boycott Of Nigerian Crude Oil by chase101: 5:20pm On Jan 10, 2016
Following Nigeria’s refusal to devalue its currency (the naira), in-line with IMF recommendations, crude oil traders worldwide have begun to shun Nigerian crude oil over the last several months. Nigeria remains one of the primary sources of “sweet crude” oil grades that is relatively pure crude oil with low levels of sulfuric content.

In order to refine heavy oil grades with higher levels of sulfur and other impurities, refineries throughout the world mix sweet crude with other grades of oil to produce its various classes of refined

products. Officials in the NNPC and other blocks in the petroleum industry in Nigeria are scratching their heads trying to figure out why so many of their former buyers have not picked-up their usual volume of purchase orders of Nigerian crude. Only India and purchasers and traders outside of Western influence have continued to increase their purchase orders given the demand glut. The development has caused Nigeria’s already dwindling revenues to decline even further dangerously flirting with insolvency.



Unbeknown to Nigerian officials, behind the inexplicable drop in sales is a top secret operation orchestrated by high-ranking officials within the US government itself. The IMF and the US Government are different heads of the same creature. The repeated and firm recommendations of the IMF for Nigeria to devalue its currency and weaken its economy is also the firm position of the United States. Because the CBN and Nigerian officials have vehemently refused, they have responded by organizing a clandestine global boycott of Nigerian oil to starve the nation of foreign exchange earnings and force a currency devaluation. The government has managed to save and increase foreign reserves despite low oil prices, through prudent management of the CBN has shown that it can limp along and ride out the slum in oil prices.

Many Nigerian policy-makers in the executive and legislature fail to realize the truth that the United States under the current administration is not a friend of Nigeria. In the height of war they refused to sell weapons and liaised with South African intelligence to circumvent weapons procurement through other means. Further even after the election of President Buhari, has continued their hostile policy to undermine Nigerian security and instead strengthen Nigeria’s immediate neighbours. Economically, the US through the IMF has recommended damaging policies of currency devaluation, and is now actively organizing a global boycott of Nigerian crude oil to further starve the CBN of foreign exchange. The question is, why has the United States adopted a overtly hostile stance toward Nigeria? The answer is very simple.
Nigerian policy makers are keen to the hostile rivalry between Nigeria and South Africa for influence and policy direction on the African continent. They can easily see that South Africa is an adversary. What they fail to realize is that in the rivalry between the two powerhouses of Africa, the United States has chosen sides, and South Africa is their favourite partner. Undermining Nigerian security and economic growth diminishes the nation’s growing influence in Africa, and aids South Africa’s declining presence. South Africa is the only African country on the G20 and for decades has been the only African country that matters to the world and to Western policy makers. They have a longstanding healthy relationship with South Africa that has made it easy for them to operate on the continent and expand their influence. The rise of Nigeria above South Africa is a terrifying development and one that the United States is willing to obstruct and undermine both economically, politically, and militarily. Instead of smiling and embracing the Judas kisses given by U.S. officials Nigerian policy makers need to adopt the same caution with the United States as they have already with South Africa because the two are working together to check and contain Nigeria’s rise in Africa.

Source : http://www.pmnewsnigeria.com/2015/11/29/u-s-organizes-a-global-boycott-of-nigerian-crude/

3 Likes

Re: Nigeria: U.S. Organizes Global Boycott Of Nigerian Crude Oil by Captain1Nigeria(m): 5:30pm On Jan 10, 2016
true talk
Re: Nigeria: U.S. Organizes Global Boycott Of Nigerian Crude Oil by osesology(m): 5:36pm On Jan 10, 2016
Interesting. Maybe it's time we start getting closer to Russia because the USA is not a trustworthy ally. They are like the devil that gives with the right hand and takes with the left.

3 Likes

Re: Nigeria: U.S. Organizes Global Boycott Of Nigerian Crude Oil by Proudlyngwa(m): 5:40pm On Jan 10, 2016
Old false news
That news was posted to pm news on 29 November last year by a free lance writer.

10 Likes 1 Share

Re: Nigeria: U.S. Organizes Global Boycott Of Nigerian Crude Oil by jayloms: 5:41pm On Jan 10, 2016
The US doesn't hide their double standards, it's our leaders who keep turning to them at every given opportunity. China and Russia should be our closest allies.

3 Likes

Re: Nigeria: U.S. Organizes Global Boycott Of Nigerian Crude Oil by Blizzy9ja: 5:46pm On Jan 10, 2016
Dats a welcome developement
Re: Nigeria: U.S. Organizes Global Boycott Of Nigerian Crude Oil by GodpunishBuhari: 6:05pm On Jan 10, 2016
LoL usa is pmb's friend. They said he's trip to usa was a successful one, we are seeing the success, it's wonderful

1 Like

Re: Nigeria: U.S. Organizes Global Boycott Of Nigerian Crude Oil by LadyExcellency: 6:11pm On Jan 10, 2016
The reason given in this article (refusal to devalue the Naira) is secondary.


Nigeria was reported to World Trade Organization in November, 2015 by not less than nine countries which included The United States and the European Union on Forex restriction and ban on importation of luxurious & domestic goods including agricultural produce.

It looks like WTO is not giving their concerns accelerated hearing hence the indirect diplomatic sabotage and un-pronounced economic sanctions.

The question now is, what cards do Nigeria have to play to save itself from the West?

2 Likes

Re: Nigeria: U.S. Organizes Global Boycott Of Nigerian Crude Oil by MisterGrace: 6:20pm On Jan 10, 2016
Whether this is an old news or fabricated lies, the most important thing is for us to diversify our economy.

I wonder the kind of demons that is holding Nigeria back from achieving the feat of diversification.
Re: Nigeria: U.S. Organizes Global Boycott Of Nigerian Crude Oil by obailala(m): 6:29pm On Jan 10, 2016
MisterGrace:
Whether this is an old news or fabricated lies, the most important thing is for us to diversify our economy.

I wonder the kind of demons that is holding Nigeria back from achieving the feat of diversification.
Unitary system of the government is the biggest impediment to diversification.

2 Likes

Re: Nigeria: U.S. Organizes Global Boycott Of Nigerian Crude Oil by meccuno: 6:33pm On Jan 10, 2016
osesology:
Interesting. Maybe it's time we start getting closer to Russia because the USA is not a trustworthy ally. They are like the devil that gives with the right hand and takes with the left.
its like you want the amount used in buying a loaf of bread to weigh more than the bread itself? GEJ fell out with the US because he went to the east and neglected the west......a cold war with the US is a battle we can't win. We would come out worse than hiroshima
Re: Nigeria: U.S. Organizes Global Boycott Of Nigerian Crude Oil by meccuno: 6:34pm On Jan 10, 2016
obailala:
Unitary system of the government is the biggest impediment to diversification.
thanks to gowon
Re: Nigeria: U.S. Organizes Global Boycott Of Nigerian Crude Oil by LadyExcellency: 6:43pm On Jan 10, 2016
meccuno:
its like you want the amount used in buying a loaf of bread to weigh more than the bread itself? GEJ fell out with the US because he went to the east and neglected the west......a cold war with the US is a battle we can't win. We would come out worse than hiroshima

The worst is that we don't have capable hands in this government that know the acts and tricks involved in playing this game. They are just spectators, that's why Adeosun was looking at Christine Laggard as one being from outer space during her visit to Nigeria few days ago.

4 Likes

Re: Nigeria: U.S. Organizes Global Boycott Of Nigerian Crude Oil by persius555(m): 6:50pm On Jan 10, 2016
MisterGrace:
Whether this is an old news or fabricated lies, the most important thing is for us to diversify our economy.

I wonder the kind of demons that is holding Nigeria back from achieving the feat of diversification.
My broda, the thing tire me o.. Every nigerian leader we have elected since 1999 dont see a nigeria surviving without oil. PMB is another pathetic case. Making himself the petroleum minister as if the only thing nigeria has to offer is crude oil.

I simply dont understand why we avoid diversification like its a plague or something. By now, i expect that PMB along with the minister of power and finance would have come out with an economic template that will see us investing in our power infrastructure as that is what our plan to diversify would be anchored on. I ask myself, how a nation of 170 million people with vast mineral and agricultural resources would rely on revenue generated from 2 million barrel of oil per day On the other hand, saudi arabia, a nation whose vast land is sandy desert with a population less than 30 million has a larger crude oil share of 10 million barrels per day.

For years, nigeria has been shortchanging herself by solely relying on crude oil. No wonder 70 percent of our population is living below poverty. PMB better get his head out of the oily cloud because oil is bound to become shit soonest.

2 Likes

Re: Nigeria: U.S. Organizes Global Boycott Of Nigerian Crude Oil by obailala(m): 6:55pm On Jan 10, 2016
meccuno:
thanks to gowon
Gowon?... Gowon wasn't the prime culprit bro... But let's leave that old story and focus on how to move forward out of the mess.
Re: Nigeria: U.S. Organizes Global Boycott Of Nigerian Crude Oil by persius555(m): 6:55pm On Jan 10, 2016
MisterGrace:
Whether this is an old news or fabricated lies, the most important thing is for us to diversify our economy.

I wonder the kind of demons that is holding Nigeria back from achieving the feat of diversification.
Re: Nigeria: U.S. Organizes Global Boycott Of Nigerian Crude Oil by Emekamex(m): 7:01pm On Jan 10, 2016
It is plain stupidity to blame other countries for your downfall, we should blame ourselves for not using the revenues we generated before this decline efficiently.
Re: Nigeria: U.S. Organizes Global Boycott Of Nigerian Crude Oil by Nobody: 7:26pm On Jan 10, 2016
The article is highly speculative.

The simple reason why the US is not buying our oil is because thanks to

1.Improvements in US oil extraction.....which means the US is going to become a net exporter of oil...instead of the importer it used to be before.

2.The Saudi led oil glut....which means that the Saudis are now over-pumping oil to force a reduction in oil prices, and make the US oil producers broke.

3.The fact that Iran is about to enter the oil market in a big way....now that sanctions have been erased.

4.The winter in Europe has been unusually warm.

The problem is our resource dependency....and I wonder why the writer cannot see that.


Strong nations do not rely on the sale of raw materials to the highest bidder. Until we get that....we will forever remain poor...even if oil jumps up to 150 dollars per barrel.

Buhari better diversify....to industries (not agriculture...another form of resource dependency).

The IMF is not the cause of our problems.....our refusal to diversify since independence is the cause of our problems. In 1973...Sierra Leone was ahead of China in percapita GDP. Now....China is ahead of Sierra leone...and even giving them loans. The reason is simple...China went industrial Sierra Leone kept on relying on raw materials sale. Which works till the price drops.(Which happens often).

The writer should stop peddling conspiracy theories. Nigeria's failure to diversify and our over-reliance on oil is what got us in this current problem.

3 Likes

Re: Nigeria: U.S. Organizes Global Boycott Of Nigerian Crude Oil by EazyMoh(m): 7:38pm On Jan 10, 2016
we don die!
Re: Nigeria: U.S. Organizes Global Boycott Of Nigerian Crude Oil by ayokellany: 8:00pm On Jan 10, 2016
If you dig dip enough you'd discover the writer of this article is an Igbo. Why some Nigerians would rather make nonsense of the dire situation Nigeria find itself with the crude situation is beyond me.

Why such writers are naturally orientated to write promoting hatred is not understandable either. What does this writer stand to gain in promoting enmity between Nigeria, the USA and other crude buyers is beyond me.

Why are they programmed to promote conflict and irritating actions ? Why can't they write promoting friendship or proffering solutions ? Why must it all be about fight ? May God save this country from enemy within.
Re: Nigeria: U.S. Organizes Global Boycott Of Nigerian Crude Oil by fistonati(m): 8:25pm On Jan 10, 2016
That's d platforms Nigeria put itself. Begin nations to survive despite it Abundance potentials
Re: Nigeria: U.S. Organizes Global Boycott Of Nigerian Crude Oil by drss(m): 8:32pm On Jan 10, 2016
see why dem buari govt is using dasukigate to divert attention from nigeria's rapidly falling economy? soon d economy will fall into recession. unfortunately dem APC military govt have no economic plan to revamp d economy. d only plan way dem get na to witch hunt opposition.

BTW: wat is happening to buari's romance with d US first it was donation of expired army trucks now boycot of buari's oyel i thought kachikwu said america will soon start buying nigerian crude oyel d numerous lies of dis govt is fast catching dem up. very soon APC will run out of lies. dat day is 2019!
Re: Nigeria: U.S. Organizes Global Boycott Of Nigerian Crude Oil by drss(m): 8:48pm On Jan 10, 2016
ayokellany:
If you dig dip enough you'd discover the writer of this article is an Igbo. Why some Nigerians would rather make nonsense of the dire situation Nigeria find itself with the crude situation is beyond me.

Why such writers are naturally orientated to write promoting hatred is not understandable either. What does this writer stand to gain in promoting enmity between Nigeria, the USA and other crude buyers is beyond me.

Why are they programmed to promote conflict and irritating actions ? Why can't they write promoting friendship or proffering solutions ? Why must it all be about fight ? May God save this country from enemy within.
how did u know d writter is Igbo
Re: Nigeria: U.S. Organizes Global Boycott Of Nigerian Crude Oil by lanrefront1(m): 8:59pm On Jan 10, 2016
persius555:
My broda, the thing tire me o.. Every nigerian leader we have elected since 1999 dont see a nigeria surviving without oil. PMB is another pathetic case. Making himself the petroleum minister as if the only thing nigeria has to offer is crude oil.

I simply dont understand why we avoid diversification like its a plague or something. By now, i expect that PMB along with the minister of power and finance would have come out with an economic template that will see us investing in our power infrastructure as that is what our plan to diversify would be anchored on. I ask myself, how a nation of 170 million people with vast mineral and agricultural resources would rely on revenue generated from 2 million barrel of oil per day On the other hand, saudi arabia, a nation whose vast land is sandy desert with a population less than 30 million has a larger crude oil share of 10 million barrels per day.

For years, nigeria has been shortchanging herself by solely relying on crude oil. No wonder 70 percent of our population is living below poverty. PMB better get his head out of the oily cloud because oil is bound to become shit soonest.

The reason why PMB made himself Minister of Petroleum is simply to give that department very close monitoring so that our main source of revenue is not looted in the usual way it has always been looted, and the bulk stops at the President's desk.
Re: Nigeria: U.S. Organizes Global Boycott Of Nigerian Crude Oil by achiphet(m): 9:12pm On Jan 10, 2016
The more reason we must blend into the information age
Re: Nigeria: U.S. Organizes Global Boycott Of Nigerian Crude Oil by persius555(m): 9:37pm On Jan 10, 2016
lanrefront1:


The reason why PMB made himself Minister of Petroleum is simply to give that department very close monitoring so that our main source of revenue is not looted in the usual way it has always been looted, and the bulk stops at the President's desk.
And that portfolio assignmant is getting too much of his attention in contrast with other viable sectors. As corrupt and deluded as GEJ/PDP govt was, they had a diversification plan in mind. The local automobile policy, things were really shaping up in the agricultural sector, ICT and satellite technology was getting deserved attention.
One would have expected PMB to build up on the progress on ground. Anti-corruption fight is taking too much attention than it should be, especially at this critical times. PMB might not be the messiah to lift nigeria out of economic doldrum afterall. This will be dissapointing after so much confidence and hope.
Re: Nigeria: U.S. Organizes Global Boycott Of Nigerian Crude Oil by darcon1: 9:45pm On Jan 10, 2016
I was thinking the United States under the current administration is a friend of Nigeria.
Re: Nigeria: U.S. Organizes Global Boycott Of Nigerian Crude Oil by meccuno: 9:57pm On Jan 10, 2016
LadyExcellency:


The worst is that we don't have capable hands in this government that know the acts and tricks involved in playing this game. They are just spectators, that's why Adeosun was looking at Christine Laggard as one being from outer space during her visit to Nigeria few days ago.
when they came with that gay issue, I was scared.....not because of the US, but because we have senators who are so dumb not to figure out a solution without the issue of religion and culture........I wasn't disappointed when a senator said it wasn't in our culture and slammed the issue in the face of the west.......we lost bakassi because of very useless leaders....if abacha were to be alive,I know what he would have done. We are the only useless country in the world to cede a territory to another country just to look good in the eyes of the world!! Why am I saying all these? Nigeria is a divided entity who plays advanced tribalism and doesn't know how to play the real politics which is international politics.........have we ever wondered if the oil fall was done specifically to target some countries including Nigeria?? Remember that §audi is a US ally.......I rest my case
Re: Nigeria: U.S. Organizes Global Boycott Of Nigerian Crude Oil by meccuno: 10:02pm On Jan 10, 2016
ayokellany:
If you dig dip enough you'd discover the writer of this article is an Igbo. Why some Nigerians would rather make nonsense of the dire situation Nigeria find itself with the crude situation is beyond me.

Why such writers are naturally orientated to write promoting hatred is not understandable either. What does this writer stand to gain in promoting enmity between Nigeria, the USA and other crude buyers is beyond me.

Why are they programmed to promote conflict and irritating actions ? Why can't they write promoting friendship or proffering solutions ? Why must it all be about fight ? May God save this country from enemy within.
this is exactly the major problem we face in Nigeria.......tribalism!! While other chose to look at the writers view in a direction that brings solutions of probably educative, you decided to give solutions based on where the person is from...........you keep wondering why we have never been united?..#Pathetic
Re: Nigeria: U.S. Organizes Global Boycott Of Nigerian Crude Oil by meccuno: 10:04pm On Jan 10, 2016
darcon1:
I was thinking the United
States under the current administration is a
friend of Nigeria.
u need to wake up dude!! USA doesn't have any friend just interest.......
Re: Nigeria: U.S. Organizes Global Boycott Of Nigerian Crude Oil by Akious2k2(m): 11:16pm On Jan 10, 2016
Good 1... This, I believe, will make us look inwards 2 survive.

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