TonyeBarcanista in his last article, labeled this administration a government of failure, tears and disappointment, citing failure of this administration not to have pegged oil price below $35 a barrel but instead projected annaualized average of $38 per barrel was used.

“Oil price is pegged at $38 per barrel even when oil was selling under $35 per barrel as at when the budget was presented to the parliament. Where in the world does that happen?” Said TonyeBarcanista.

In which I responded “they were right to have used $38 as at the time, the OP (Tonye) just doesn’t understand how the calculation works. Oil was $33 a barrel when the budget was drafted but on a 3 months weighted average, it’s around $42 a barrel since it fluctuate depending on global market”.

Currently, oil is trading at $39.50 per barrel, above $38 pegged rate and forecasted to reach around $45 a barrel before the end of the year, as OPEC member nations are meeting later this month to further curtail the situation by reducing production in order to create scarcity.

So far this month, commodity-backed economies like Canada, Nigeria, Australia, etc. are showing better prospect then the rest of the world. For instance, Aussie dollar is trading at 8 months high against the U.S. dollar, while Canadian dollar (Lonnie) is trading at 4 months high and if Naira is not fixed we would be recording similar success but notwithstanding our foreign reserves surged 2.43 percent.

With foreign reserves picking up, the economy will attracts more inflow of foreign currency and foreign investors interested in real growth — like Jumia that just raised $325 million, this is the only type of investment that can help actualize diversification from oil and pave way for consumption dependent economy amid sustainable exports.

Imagine if the CBN had devalued the Naira, not only will our inflation skyrocket, but foreign investors would have seized the opportunity to profit enormously from the system and abscond with their gains.

It is also important to note that these investors only invest in an economy with prospects, since they are investing in the future value, this means the larger portion of them somehow believed in the future of Nigeria, how come we don’t? I guess that is why most Nigerian top brands are owned by foreigners.

I proposed that all the companies that left should be double taxed if peradventure they return, Truworths should be triple charged for starting it. This is because they failed to prove their commitment to Nigeria’s 2020 vision by increasing unemployment rate, creating negative perception of the economy that indirectly led to more capital outflow and most importantly for using us to further their capitalist agenda.

http://investorsking.com/buhari-once-again-proved-critics-tonyebarcanista-and-others-wrong/

K

The funny thing about zombies is that they have been programmed to defend Buhari. So it is not their fault

For mind you don write something.

j

Seen

Lame! This was how una dey celebrate nothing as body language today we all know better.
It is not about proving anyone wrong rather we demand improved welfare from a performing economy.
Change still a scam

This is the height of foolishness on the part of the OP. How can he celebrate a spike in Oil prices when we know that the dynamics are in a flux.

Don't celebrate too soon but find why a dead horse starts to gallop

Degis:
This is the height of foolishness on the part of the OP. How can he celebrate a spike in Oil prices when we know that the dynamics are in a flux.

Don't celebrate too soon but find why a dead horse starts to gallop.

You too can also find out why the horse lay immobile in the first place, it never died, it only keeled over in exhaustion.

Let's be hopeful that the rally will ease a bit of of present economic woes, and all the prophets of doom can now go kiss ***, the $20 prediction won't happen.. thank God.

US shale drillers sef don tire..


http://triblive.com/business/headlines/10064290-74/production-gas-prices

http://www.bloomberg.com/news/articles/2016-03-07/u-a-e-energy-minister-sees-oil-price-correction-by-year-end

http://abokifx.com/pecter-of-20-oil-recedes-as-speculators-flee-bearish-bets-bloomberg/

http://www.cnbc.com/2016/01/11/half-of-us-shale-drillers-may-go-bankrupt-oppenheimers-gheit.html

Degis:
This is the height of foolishness on the part of the OP. How can he celebrate a spike in Oil prices when we know that the dynamics are in a flux.

Don't celebrate too soon but find why a dead horse starts to gallop

I guess you are the foolish one then, if not you would have known that in commodity trading there is what is called Bottom-out. Not only has oil called bottom, oil producing nations are now instituting a model to manage its price. Henceforth, we will not see $26 a barrel any more.

Degis:
This is the height of foolishness on the part of the OP. How can he celebrate a spike in Oil prices when we know that the dynamics are in a flux.

Don't celebrate too soon but find why a dead horse starts to gallop

You are a creative thinker...

A pathetic case when an entire administration with all the fancy professionals in their employ see Tonyebarcanista as such a big threat they have to celebrate his being "proved wrong"

SIGH BUHARI


KAI APC


MTN IS A USELESS NETWORK

modath:


You too can also find out why it the horse died in the first place.

US shale drillers are tired.



http://abokifx.com/pecter-of-20-oil-recedes-as-speculators-flee-bearish-bets-bloomberg/

http://www.cnbc.com/2016/01/11/half-of-us-shale-drillers-may-go-bankrupt-oppenheimers-gheit.html

The first link you posted exposed your ignorance of the subject matter, when traders flee bearish bets, it means they are now positive the price will rise. A quote from your link "Hedge funds unwound bearish bets at the fastest pace in 10 months as fear of oil sinking to $20 a barrel faded."

Second link, was written in January 11th prior to OPEC decision to cut production.

Truth234:


The first link you posted exposed your ignorance of the subject matter, when traders flee bearish bets, it means they are now positive the price will rise. A quote from your link "Hedge funds unwound bearish bets at the fastest pace in 10 months as fear of oil sinking to $20 a barrel faded."

Second link, was written in January 11th prior to OPEC decision to cut production.

I won't dignify your inanity with a response..

modath:


I won't dignify your inanity with a response..

As you no know am, na curse remain o. Easy girl

so because oyel price don climb to $39pb una zombies don dey celebrate claim say na buari body odor cause am by d time oyel price drop to $12pb tomorow una big eyes go clear.

Truth234:
TonyeBarcanista in his last article, labeled this administration a government of failure, tears and disappointment, citing failure of this administration not to have pegged oil price below $35 a barrel but instead projected annaualized average of $38 per barrel was used.

“Oil price is pegged at $38 per barrel even when oil was selling under $35 per barrel as at when the budget was presented to the parliament. Where in the world does that happen?” Said TonyeBarcanista.

In which I responded “they were right to have used $38 as at the time, the OP (Tonye) just doesn’t understand how the calculation works. Oil was $33 a barrel when the budget was drafted but on a 3 months weighted average, it’s around $42 a barrel since it fluctuate depending on global market”.

Currently, oil is trading at $39.50 per barrel, above $38 pegged rate and forecasted to reach around $45 a barrel before the end of the year, as OPEC member nations are meeting later this month to further curtail the situation by reducing production in order to create scarcity.

So far this month, commodity-backed economies like Canada, Nigeria, Australia, etc. are showing better prospect then the rest of the world. For instance, Aussie dollar is trading at 8 months high against the U.S. dollar, while Canadian dollar (Lonnie) is trading at 4 months high and if Naira is not fixed we would be recording similar success but notwithstanding our foreign reserves surged 2.43 percent.

With foreign reserves picking up, the economy will attracts more inflow of foreign currency and foreign investors interested in real growth — like Jumia that just raised $325 million, this is the only type of investment that can help actualize diversification from oil and pave way for consumption dependent economy amid sustainable exports.

Imagine if the CBN had devalued the Naira, not only will our inflation skyrocket, but foreign investors would have seized the opportunity to profit enormously from the system and abscond with their gains.

It is also important to note that these investors only invest in an economy with prospects, since they are investing in the future value, this means the larger portion of them somehow believed in the future of Nigeria, how come we don’t? I guess that is why most Nigerian top brands are owned by foreigners.

I proposed that all the companies that left should be double taxed if peradventure they return, Truworths should be triple charged for starting it. This is because they failed to prove their commitment to Nigeria’s 2020 vision by increasing unemployment rate, creating negative perception of the economy that indirectly led to more capital outflow and most importantly for using us to further their capitalist agenda.

http://investorsking.com/buhari-once-again-proved-critics-tonyebarcanista-and-others-wrong/

dis ur analysis get plenty k-leg. e no makes sence at all.

drss:
so because oyel price don climb to $39pb una zombies don dey celebrate claim say na buari body odor cause am by d time oyel price drop to $12pb tomorow una big eyes go clear.

The thing is oil like other commodities just don't rise and fall, there must be underlying economic factors and in this case it is being contained. Most of you need to learn about global economics or stay away totally.

Stupid thread.

tuniski:
Lame! This was how una dey celebrate nothing as body language today we all know better.
It is not about proving anyone wrong rather we demand improved welfare from a performing economy.
Change still a scam

Am very sure if u intend to renovate ur house it ll take u few hours to demolish d structure dat is not wanted but it ll take days or months for d renovation to be completed. Remember patience is virtue.

People Buhari don't give a fvck about:

1) IPODs
2) Fayose
3) Ben Bruce
4) Destructive Critics
5) Wailers

Now the question I asked my brother(wailer) is...

If Buhari don't give a fvck about you guys, why should I??

The answer is......

Because I don't really give a Fvck about them!!


I forsee a better Nigeria!!

valslove8715:



Am very sure if u intend to renovate ur house it ll take u few hours to demolish d structure dat is not wanted but it ll take days or months for d renovation to be completed. Remember patience is virtue.

Most of them are unrealistic like a gambler

Is this thread really necessary??

But the increase is OK for us in the industry,I don't think we should be celebrating it at all,shale oil is gaining ground by the day in the oil market,the competition is not going to be easy fr Nigeria

valslove8715:



Am very sure if u intend to renovate ur house it ll take u few hours to demolish d structure dat is not wanted but it ll take days or months for d renovation to be completed. Remember patience is virtue.

The warped idea of buhari doing a reconstruction is making people give excuses for non performance! Govt is a continuum no one should swallow the talk of a destroyed nation being rebuild by a poor mason!

Mynd44

Bizibi:
But the increase is OK for us in the industry,I don't think we should be celebrating it at all,shale oil is gaining ground by the day in the oil market,the competition is not going to be easy fr Nigeria

You mean same shell that is downsizing ?

tuniski:
Lame! This was how una dey celebrate nothing as body language today we all know better.
It is not about proving anyone wrong rather we demand improved welfare from a performing economy.
Change still a scam

Prove his arguments wrong instead of saying plenty of things.

Truth234:


You mean same shell that is downsizing ?

yea,they know what they are doing.....

Bizibi:
yea,they know what they are doing.....

I am sure they do, but we are talking about nations. Shell is no competition

Bizibi:
But the increase is OK for us in the industry,I don't think we should be celebrating it at all,shale oil is gaining ground by the day in the oil market,the competition is not going to be easy fr Nigeria

Truth234:

You mean same shell that is downsizing ?

Truth234:

I am sure they do, but we are talking about nations. Shell is no competition

Bizibi:
yea,they know what they are doing.....

Both of you are just a laugh a minute, X

One typed SHALE , the other read it as "SHELL" & una con dey debate that ... make una try dey read well sha.