Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,151,501 members, 7,812,552 topics. Date: Monday, 29 April 2024 at 03:14 PM

Nigeria At Risk Over Falling Oil Price : FG - Politics (3) - Nairaland

Nairaland Forum / Nairaland / General / Politics / Nigeria At Risk Over Falling Oil Price : FG (29311 Views)

Senate Summons Fashola Over Falling Bridges / Falling Oil Prices Threaten My Agenda — Buhari / Education Jobs Rising Amidst Concerns Over Falling Standards (2) (3) (4)

(1) (2) (3) (4) (5) (6) (7) (8) (Reply) (Go Down)

Re: Nigeria At Risk Over Falling Oil Price : FG by Gloria3389(f): 8:09am On Oct 27, 2014
Unibenstudent:
If u want the oil to finish now click like
the price can only fall but the oil cannot finish... in fact there are sooo many places in this country Where the oil there has not been extracted at all ....even in the Niger Delta, the oil is still there and can't dry up many years to come except God get angry and dry it up himself.... it's my area of study

2 Likes 1 Share

Re: Nigeria At Risk Over Falling Oil Price : FG by nationwide1(m): 8:13am On Oct 27, 2014
Expecting oil prices to remain the same or high forever is an absolute demonstration of myopia. I weep for Nigeria.

1 Like

Re: Nigeria At Risk Over Falling Oil Price : FG by Sunofgod(m): 8:14am On Oct 27, 2014
less money to be mis appropriated . . . . .

1 Like

Re: Nigeria At Risk Over Falling Oil Price : FG by Thinkr(m): 8:15am On Oct 27, 2014
Vig86:

Don't mind the guy. Some think that oil is just for the political "big-belles". Such a sensitive sector has a very fast way of affecting the masses. The little they see is because there is a relative stability in the crude oil price.
I don't blame him. A regular fella don't know what's affecting his money or cost of living. These govts peeps will not cut down their salaries of allowances. They'll rather increase tax and cost of living to sustain. The last resort is to increase fuel and then BOOM!!! Domestic made goods increase price along side foreign. Double edge sword on the masses. Now that's scary. I just pray it doesn't happen. We got the worse govt in the world trust me. sad

2 Likes

Re: Nigeria At Risk Over Falling Oil Price : FG by hotice01: 8:15am On Oct 27, 2014
THIS IS JUST A PRELUDE TO WHAT WILL HAPPEN SINCE OUR GOVERNMENT REFUSE TO BUILD REFINERIES&ENCOURAGE SUSTAINABLE DEVELOPMENT.

2 Likes

Re: Nigeria At Risk Over Falling Oil Price : FG by Nobody: 8:16am On Oct 27, 2014
Gloria3389:

the price can only fall but the oil cannot finish... in fact there are sooo many places in this country Where the oil there has not been extracted at all ....even in the Niger Delta, the oil is still there and can't dry up many years to come except God get angry and dry it up himself.... it's my area of study
Re: Nigeria At Risk Over Falling Oil Price : FG by Nobody: 8:18am On Oct 27, 2014
who cares?

Like say i dey benefit from the oil money sef... Mtcheeew

1 Like

Re: Nigeria At Risk Over Falling Oil Price : FG by Youngzedd(m): 8:18am On Oct 27, 2014
Odikwa very risky.

Re: Nigeria At Risk Over Falling Oil Price : FG by PassingShot(m): 8:19am On Oct 27, 2014
stalyf:
The government should see the falling oil prices as an opportunity to diversify the economy. Agriculture is one major area we can use for that.
For how long are we going to depend on oil?

You can say that again.

1 Like

Re: Nigeria At Risk Over Falling Oil Price : FG by TonySpike: 8:22am On Oct 27, 2014
This is the gradual demise and collapse of the 'booming' global oil industry. The oil pricing honeymoon remotely triggered by the 9/11 WTC attack is on the verge of been over. I hope this will not throw the world into a serious financial crisis or induce another economic meltdown? Any expert/analyst on energy sources knows that the glorious reign of oil and gas, which has spanned over a century, is about to be replaced by biofuels. I won't be surprised if by 2015, crude oil sells at $40pb. Nigerians, brace for impact!

5 Likes

Re: Nigeria At Risk Over Falling Oil Price : FG by PassingShot(m): 8:23am On Oct 27, 2014
I personally pray that the oil price even drops to around $50 pb. Perhaps it will make us have a rethink and do the right things.

At present, our polithievesians steal our money like there is no tomorrow.
Re: Nigeria At Risk Over Falling Oil Price : FG by vicarsenal(m): 8:25am On Oct 27, 2014
We should learn from Qatar and UAE, we should diversify OUR Economy.

1 Like

Re: Nigeria At Risk Over Falling Oil Price : FG by chemali: 8:27am On Oct 27, 2014
Oil prices have fallen. When will the price at the pumps drop o. I'm tired of paying 97 naira per litre.

6 Likes

Re: Nigeria At Risk Over Falling Oil Price : FG by Nobody: 8:28am On Oct 27, 2014
Gloria3389:

the price can only fall but the oil cannot finish... in fact there are sooo many places in this country Where the oil there has not been extracted at all ....even in the Niger Delta, the oil is still there and can't dry up many years to come except God get angry and dry it up himself.... it's my area of study
what u studying?
Re: Nigeria At Risk Over Falling Oil Price : FG by Ambi25: 8:28am On Oct 27, 2014
invest in other sectors of the economy
Re: Nigeria At Risk Over Falling Oil Price : FG by TonySpike: 8:30am On Oct 27, 2014
hotice01:
THIS IS JUST A PRELUDE TO WHAT WILL HAPPEN SINCE OUR GOVERNMENT REFUSE TO BUILD REFINERIES&ENCOURAGE SUSTAINABLE DEVELOPMENT.

On the other hand, I think a drop in global oil prices should be a motivation to build more refineries. By the way, it should be cheaper to import refined petroleum products these days since we now have a margin of about $30 on crude oil. Can anyone tell me why pump prices are still over NGN100 per litre?

3 Likes

Re: Nigeria At Risk Over Falling Oil Price : FG by signz: 8:32am On Oct 27, 2014
Thinkr:
I don't blame him. A regular fella don't know what's affecting his money or cost of living. [/b]These govts peeps will not cut down their salaries of allowances[b]. They'll rather increase tax and cost of living to sustain. The last resort is to increase fuel and then BOOM!!! Domestic made goods increase price along side foreign. Double edge sword on the masses. Now that's scary. I just pray it doesn't happen. We got the worse govt in the world trust me. sad


They'll be forced to cut it down and sack most of their drivers, Special advisers and Personal Assistants.

If the price continues to go down, the FG will be forced to encourage investors to build local refineries (say bye to fuel subsidy)and NASS will be forced to pass PIB.

His will make us all (politicians/masses) to sit up and work for this nation or we perish

1 Like

Re: Nigeria At Risk Over Falling Oil Price : FG by austinbrown: 8:33am On Oct 27, 2014
Its not my business cos I have not eating the oil money b4

1 Like

Re: Nigeria At Risk Over Falling Oil Price : FG by hotice01: 8:34am On Oct 27, 2014
TonySpike:


On the other hand, I think a drop in global oil prices should be a motivation to build more refineries. By the way, it should be cheaper to import refined petroleum products these days since we now have a margin of about $30 on crude oil. Can anyone tell me why pump prices are still over NG100 per litre?

And the answer is....CORRUPTION AND UNPATROTISM
Re: Nigeria At Risk Over Falling Oil Price : FG by Thinkr(m): 8:36am On Oct 27, 2014
chemali:
Oil prices have fallen. When will the price at the pumps drop o. I'm tired of paying 97 naira per litre.
You are funny. If the price drops expect to pay 120 naira PL to sustain fiscal allocation(of cos them go embezzle am)... Sorry to disappoint you bruh

2 Likes

Re: Nigeria At Risk Over Falling Oil Price : FG by yinchar(m): 8:37am On Oct 27, 2014
The problem actually is not the falling oil prices but the large scale bunkering that's affecting us exporting less than the daily quota, and subsequently affects the yearly projections. I am surprised no one in this forum has condemned the daily-light oil theft/bunkering under Jonadaf.t government, the present government has continued turning a blind eye towards this theft/bunkering, despite awarding huge pipeline securing contracts to Tompolo etc. I personally won't be surprised if efforts are now made to reduce the theft/bunkering of our oil resources.
Re: Nigeria At Risk Over Falling Oil Price : FG by Thinkr(m): 8:38am On Oct 27, 2014
signz:



They'll be forced to cut it down and sack most of their drivers, Special advisers and Personal Assistants.

If the price continues to go down, the FG will be forced to encourage investors to build local refineries (say bye to fuel subsidy)and NASS will be forced to pass PIB.

His will make us all (politicians/masses) to sit up and work for this nation or we perish

are you vouching for our govt? Are you We shall see

2 Likes

Re: Nigeria At Risk Over Falling Oil Price : FG by KingMswati: 8:39am On Oct 27, 2014
GEJ Till 2019!

1 Like

Re: Nigeria At Risk Over Falling Oil Price : FG by Thinkr(m): 8:43am On Oct 27, 2014
TonySpike:


On the other hand, I think a drop in global oil prices should be a motivation to build more refineries. By the way, it should be cheaper to import refined petroleum products these days since we now have a margin of about $30 on crude oil. Can anyone tell me why pump prices are still over NG100 per litre?
building 100 refinaries would not affect oil price... Many countries are discovering oil now. And if you are familiar with market structure. Where there many buyers and sellers prices will be dictated buy the force of demand and supply thereby bring stiff competition to sell product. This makes the price cheaper. Aside that, saudi arabia plans to sell an 50$ per barel. Wow* Those are some of many fundamental factors affecting the price... About ur pump price, that has almost nothing to do with global oil price.

1 Like

Re: Nigeria At Risk Over Falling Oil Price : FG by soloiky: 8:43am On Oct 27, 2014
Call on us today at TRADECORE INTEGRETED CONCEPT LIMITED, The home of SOLAR ENERGY. We deal on Solar Batteries, Solar Panels, Controllers, Laptops and Computer Equipment. Contact us Today. 08037514007, F line 512, Alaba International Market, Ojo Alaba. Lagos

Re: Nigeria At Risk Over Falling Oil Price : FG by bluebros: 8:50am On Oct 27, 2014
so mysterious! I just read Jonathan and his smiling entourage in Isreal now... and now endangered oil price. Is Jonathan ignorant of that before Isreal trip? undecided

1 Like

Re: Nigeria At Risk Over Falling Oil Price : FG by igbsam(m): 8:50am On Oct 27, 2014
That's the price you pay when you over depend on this yeye oil thing. Una never hala reach.
Re: Nigeria At Risk Over Falling Oil Price : FG by jpphilips(m): 8:52am On Oct 27, 2014
you guys just woke up abi? nope push the benchmark to $90/bbl s!!ly senators

1 Like

Re: Nigeria At Risk Over Falling Oil Price : FG by Mayydayy(m): 8:53am On Oct 27, 2014
this is just the beginning.

1 Like

Re: Nigeria At Risk Over Falling Oil Price : FG by BlackBaron: 8:56am On Oct 27, 2014
All well and stated.

...but before we start dipping our hands in the 'rainy day' piggy bank, can we at least start squeezing out the excesses from the top.

Let the President start flying Arik, 3 tiers of Government should take a massive pay cut, cut unnecessary offices (Minister of state and all). I'll rather they feel the sting first before a struggling man who wakes up early everyday barely able to scrape a good living that is not commensurate with the effort he puts in.

And by the way, costs of subsidy should be definitely reduced but then with this corrupt administration...? Who knows what houdini scale figures they've been appropriating behind the scenes.

1 Like

Re: Nigeria At Risk Over Falling Oil Price : FG by Flexy2vybes(m): 8:58am On Oct 27, 2014
God help us[color=#990000][/color]
Re: Nigeria At Risk Over Falling Oil Price : FG by soloiky: 8:58am On Oct 27, 2014
Oil will still go up. Call on us today at TRADECORE INTEGRETED CONCEPT LIMITED, The home of SOLAR ENERGY. We deal on Solar Batteries, Solar Panels, Controllers, Laptops and. Computer Equipment. Contact us Today. 08037514007, Email: egbuziemiks@yahoo.com F line 512, Alaba International Market, Ojo Alaba. Lagos

1 Share

(1) (2) (3) (4) (5) (6) (7) (8) (Reply)

Pdp Senatorial Candidate Hospitalised After Defeat / Ernest Shonekan Celebrates His 84th Birthday Today / Picture Of Former President Olusegun Obasanjo Tying Wrapper Among Women

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 39
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.