Mrkuvuki:
I thought the unrest in the gulf &Middle east would ensure high crude prices..

nairaman66:
Let the price continue to fall for all I care! Let's see how these thieving politicians won't change for good!

Nigeria has been raped for too long! You can see fat jaws finance minister speaking from an already prepared script.. ECA indeed, account that only exist in the National Dailies!!

jpphilips:


Not when America is manipulating supply with Saudi Arabia to punish putin

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?

Neatboy:
I hope they'll not say Jonathan caused it...

Panshow:
This is what happens when you refuse to build your own refineries.

pekeyim:
They just noticed? A trend that has been anticipated long before now, with Shale oil and new oil discoveries found almost everywhere in Africa and Reservoirs that were seen as unprofitable are now profitable.
Global Economic growth is shrinking, even the Manufacturing power house like China's economic growth forecast has reduced. If the Supply for Oil outwit it demand greatly prices will drop. Gas supply also has increased from LNG plants across the globe. But even for 2015 budget we still pegged the price of Crude Oil above $75 per barrel. Even in an election year. That's sickening to say the least, plus a Military budget of close to 1 trillion this year in review and we still had to take a loan of $1billion dollars. Having 2 ministers in a Ministry, the National Assembly and Senate keep voting huge cash to themselves for sitting.


We all see where we are Heading!!!

It is another election year, Nigerians have refused to ask the right questions, what is PDP and APC's energy plan?
what are their foreign policies? suffering and smiling as usual, I pity the civil servants.
The senate has rushed to remove minimum wage so they can pay anything when the going gets tough,

duni04:

Saudi arabia whose economy is almost totally dependent on oil is collaborating with America, now the world's major oil supplier and whose economy is non oil driven, to punish Putin and crumble their own( Saudi arabia's) economy. Doesn't make sense.

Missy89:


It actually makes sense. The US and the Saudis flood the market when they want to drop/raise the oil price. They have been doing that for a long time.

kevinaduga:
I don't really care about statistics. But i think it is interesting to know that, on the average, Nigeria generate 900 Billion Naira in revenue every month, from both oil and non oil sources.
It is also note worthy that 70% of Nigerians live below the poverty line, which is close to 2 dollars per day.
My question is if Nigeria generates such huge income every month, then how come the majority of the population is wallowing in poverty?? Really mind boggling! What is the money used for? I don't think it is for the development of this country either. Cos no electricity in my house for the past three days, the generator has been constantly up and running. The road to my house was constructed through the combined efforts of the residents of my street. Public schools are nothing to write home about. Our hospitals are ill equipped. Insecurity is the norm, not the exception..No social security e.t.c. In fact, nothing works in Nigeria.
Seems the 900 billion naira is utilized in funding the lavish lifestyles of our corrupt politicians, clergymen and unscrupulous businessmen.
It is high time we demanded that the 900 billion naira be used for what it is actually meant to be used for.
#return our 900 billion naira

Missy89:


Lol

Refineries doesn't don't help when it comes to falling oil prices. Diversified economy is the important factor

duni04:

Not when America is now a competitor and a threat to Saudi Arabia's oil market. You can't collaborate with your competitor to crash your own economy. Thats why it doesnt make sense. Apart from Nigeria and maybe venezeula, Saudi Arabia stands to lose the most with oil selling at the current price.

Mrkuvuki:
I thought the unrest in the gulf &Middle east would ensure high crude prices..

Mrkuvuki:
I thought the unrest in the gulf &Middle east would ensure high crude prices..

idris4r83:
gej must go this 2015 by the grace of God

InvertedHammer:


Hate them or love them...when USA sneezes, the world catches cold.

As I stated earlier, war in 2014 could be physical or in economics. Lower oil price is American way of putting Russia where they belong. Russian economy is going down with oil prices. They can stir up the pot as much as they want, the them Yankees will keep fracking and their Hedgies will keep dumping until Putin bows down to the "bigger" boys.

Saudi has already given OPEC the middle finger. ISIS is selling at $35/barrel. Nigeria is truly inconsequential in the global arena. So folks, be ready to use your crude oil to cook soup soon.

By the way, if the trend continues, I see unrest in some countries soon similar to Middle East crisis that ate up some of their supposedly invincible leaders in Libya and Egypt. Lol.

There are boys. And there are men. Some people run this shit.

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