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India, Nigeria's Biggest Consumer, Discovers Oil - Politics (3) - Nairaland

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Re: India, Nigeria's Biggest Consumer, Discovers Oil by amAZEing: 2:17pm On Jun 10, 2013
Abagworo: Still boils down to what I've always said.

1) Oga Jonathan please develop Niger Delta with your remaining 2 years and stop wasting all the money on retaining power.

2) Grant the States economic autonomy so that dependence on oil will reduce as States will fend for themselves. The offshore goes to FG so your share remains.

3) Invest more on Agriculture and Agricultural/biotechnology courses in our higher institutions. Make Agriculture the most attractive employment for youths.

4) Allow our refineries function so that we can use the oil ourselves if they refuse to buy.

5) Encourage the Aba shoes and allied products because that could be our next highest foreign exchange earner. Rebuild the city and create a condusive industrial area with access to standard machinery.

6) The "Kano Pyramids" and Western Cocoa can be revived if my point 3 (give priority to Agriculture) is well applied. Its possible if Obasanjo could do it with cassava.





215 Likes
Re: India, Nigeria's Biggest Consumer, Discovers Oil by amAZEing: 2:22pm On Jun 10, 2013
sheyie2007:
Oil contributes just 14% to our GDP bro... So, we don't entirely depend on it
http://en.m.wikipedia.org/wiki/Economy_of_Nigeria

agriculture: 40%; services: 30%; manufacturing: 15%; oil: 14% (2012 est.)


In other words, Oil accounts for less income and our economy is less dependant on oil.

I luv that. Try and ask what makes the Nigerian Economy, Tick.
Re: India, Nigeria's Biggest Consumer, Discovers Oil by obinnakenedo(m): 2:22pm On Jun 10, 2013
emmysenior: This shouldn't be an issue in the 1st place;

If only we diversified our economy alittle, then this type of ish won't bother us at all.

The coal in Okaba (Kogi)

Ajaokuta steel company (Kogi) the six largest in the world.

Iron ore (Kabba Kogi)

Lime stone (Itakpe Kogi)



Newly discovered Lime stone occurrence (Agwale Kogi)

Rice and Yam production (Ibaji Kogi) 2nd largest in Nigeria.

Coal (Enugu)

Tin ore (Jos)

Rivers Niger and Benue plus fertile lands (Kogi, Niger and Markudi).

Cassava (All over Naija)

Fertile lands (East igbo land(s)

Aba mini factories.

Tinapa (Calabar)

Great Onitsha market

The massive rubber plantation in Cross river.

The palm belts in (Kogi, Edo, Akwa Ibom, Cross river and Benue states.


And the sweet Lagos access to the ocean, our ticket to world power.
.. C'mon...

Abeg I aff tired, fxck oil joor.
singing: me i like my country. I like am pass ........everything e dey for nigeria. Make we join hands, to make nigeria betaaa! Remember that song. Here we are...

1 Like

Re: India, Nigeria's Biggest Consumer, Discovers Oil by jpphilips(m): 2:23pm On Jun 10, 2013
sheyie2007: No oil sales = FG invests more in RND / Agriculture = increase in HDI

must it be agriculture? we need to sustain our food consumption before talking about export, what happened to investing in technology?

with the right technology even the raw agro products can be finished here, create jobs and still yield revenue.

almost All the companies in the world outsourced their IT infrastructure to India, what is Nigeria doing?

seriously, i don't subscribe to exportation of agro products cos the revenue is meager and the good jobs that are supposed to come with it is non existent.

how much will you get from exporting a bag of cocoa? now compare it with sending the cocoa to industries like Nestle to make bournvita, you generate income from sale of bournvita and create descent jobs too.

Another thing is that the cost of food is high in Nigeria, our local consumption is not met let alone export.

Ask yourself why most developed countries slowed down on their bio fuel technology?

1 Like

Re: India, Nigeria's Biggest Consumer, Discovers Oil by valicious1(m): 2:25pm On Jun 10, 2013
PROBLEM. DIAZ FIRE ON D MOUNTAIN

1 Like

Re: India, Nigeria's Biggest Consumer, Discovers Oil by Afam4evaIsASlut: 2:25pm On Jun 10, 2013
eGuerrilla: If there ever was a case for developing an increased sense of urgency towards economic diversification", this is it.

Ummm.... at this point its too late. Major shiyyt is about to hit the fan for Nigeria, pretty soon.

1 Like

Re: India, Nigeria's Biggest Consumer, Discovers Oil by jpphilips(m): 2:29pm On Jun 10, 2013
sheyie2007:
Oil contributes just 14% to our GDP bro... So, we don't entirely depend on it
http://en.m.wikipedia.org/wiki/Economy_of_Nigeria

agriculture: 40%; services: 30%; manufacturing: 15%; oil: 14% (2012 est.)

no be okonjo iweala paper economics? tell me which agency in Nigeria that delivers close to $160million daily in the federal cofers? to quote Wikipedia is not enough sometimes commonsense does better.
if that so called GDP doesn't accommodate the highest foreign exchange earner, then it shouldn't be taken seriously.
Re: India, Nigeria's Biggest Consumer, Discovers Oil by Ezemmuo1: 2:29pm On Jun 10, 2013
eGuerrilla:

We do for 95% of our foreign earnings.
95% enjoyed by only 5% of Nigerian citizens. They are the only once getting jittery.....the rest of nigeria will feel it much the same way they felt the global meltdown. Do you feel the loss of what you never had?me thinks its good news for nigeria sef!

5 Likes

Re: India, Nigeria's Biggest Consumer, Discovers Oil by jpphilips(m): 2:43pm On Jun 10, 2013
Beaf!:
Demdem is very right.

Oil that is supposed to be a blessing to Nigeria has turned out to be a curse. FACT!

Without Oil, we would have developed the sectors listed above by Abagworo.

Oil has made Nigerians lazy. All other sectors of the economy was abandoned.
Oil has destroyed fertile lands in the delta region.
Oil have turned our politicians and leaders to rogues.
Oil gave birth to militancy, bunkering and gun running
Oil brought about the current hatred between north and southern Nigerian (South "feeding" the north)
Oil is threatening the unity of Nigeria.
Oil is making the West interfare in our political affairs.
Etc etc..




Do you have any idea how much Nigeria spent to develop the oil industry to this extent? or you think that exporting 2.5mbbls of crude daily is kwa kwa investment?

how many years have passed and ghana is still struggling to go beyond 40,000bbls. im not implying that other sectors shouldn't be developed but it cannot be at the same rate as oil,
for you to make money from oil (ie increase production capacity) you must invest good money, when you invest good money to get more from oil, where will you get money to develop coal?

in this 2013 budget, to meet up with our national needs alone oil is capped at $78/bbl, since the few months,oil prices have been going down because of American's shale oil saturating the market.

US as we speak is producing 6m bbls of shale oil and opec is really worried, the yanks are targeting to be the highest crude exporter by 2017 with prod. capacity of 11m bbls daily,the end of the road is to cut back on prod for oil to gain value.

pray that crude doesn't fall below $70 this year, you wont even see money to run your ministries let alone invest in other sectors.

1 Like

Re: India, Nigeria's Biggest Consumer, Discovers Oil by Nobody: 2:56pm On Jun 10, 2013
Connecting all the dots shows that Nigeria is a ticking time bomb.

Will it implode, or will fortune save day?

Stay tuned and find out...

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Re: India, Nigeria's Biggest Consumer, Discovers Oil by WukedP(m): 3:00pm On Jun 10, 2013
Think farming? Remember the fulani herds men grin
Re: India, Nigeria's Biggest Consumer, Discovers Oil by Miles78(f): 3:02pm On Jun 10, 2013
Nyja increase ur security so that tourists will flock there in their multitudes. The world is waiting anxiously to explore Africa's most populous country and have a taste of its diversity and culture without being accompanied by Security men.

1 Like

Re: India, Nigeria's Biggest Consumer, Discovers Oil by Nobody: 3:03pm On Jun 10, 2013
Nothing can happen until corruption is eradicated.
Nigeria would soon starve if oil price falls sharply and it looks like we may have as little as 3 years before this could happen.

With development of alternative fuel sources, electric vehicles, a score of other countries discovering oil, when prices eventually drop oil will never be the money -maker it was again.

Even if Nigeria eventually tackles corruption (because there would be no choice), it would be too late to benefit from the earning potential of oil.

I pray the oil price crash happens today so that we would be forced to tackle corruption and develop our country whilst oil still has earning power.

WE NEED TO DEAL WITH CORRUPTION IMMEDIATELY.

OYA ! NIGERIAN YOUTHS YOUR FUTURE IS AT STAKE!!!

IT IS IN YOUR HANDS !!

eGuerrilla: If there ever was a case for developing an increased sense of urgency towards economic diversification", this is it.

3 Likes

Re: India, Nigeria's Biggest Consumer, Discovers Oil by Nobody: 3:04pm On Jun 10, 2013
And the poor masses would eat the rich.
profjustine: VERY SOON NIGERIAN LEADERS WILL BE DRINKING THEIR OIL
Re: India, Nigeria's Biggest Consumer, Discovers Oil by Fussbot: 3:07pm On Jun 10, 2013
To all u dat av spoken..this is for u all..am impressed

Re: India, Nigeria's Biggest Consumer, Discovers Oil by Nobody: 3:09pm On Jun 10, 2013
if this news is really true then the Nigerian dream is going to get fvcked without a condom..... giving birth to miseries

1 Like

Re: India, Nigeria's Biggest Consumer, Discovers Oil by plainmirror(m): 3:10pm On Jun 10, 2013
GEJ might even setup a committee 2 dat effect
LoL grin

1 Like

Re: India, Nigeria's Biggest Consumer, Discovers Oil by rahman137(m): 3:14pm On Jun 10, 2013
sheyie2007:
Oil contributes just 14% to our GDP bro... So, we don't entirely depend on it
http://en.m.wikipedia.org/wiki/Economy_of_Nigeria

agriculture: 40%; services: 30%; manufacturing: 15%; oil: 14% (2012 est.)
GDP different frm income, oil contribute 90% of govt earnings bt actually add less value to d economy (gdp)
Re: India, Nigeria's Biggest Consumer, Discovers Oil by amAZEing: 3:15pm On Jun 10, 2013
we can start paying attention to the following industries and sectors of the economy

1. Agriculture
2. Info. Tech
3. BioMedicine
4. Entertainment
5. Financial Services
6. Tourism
7. Education
etc

2 Likes

Re: India, Nigeria's Biggest Consumer, Discovers Oil by francis4real(m): 3:17pm On Jun 10, 2013
Bad bele pple so for those who are hppy oil bn discovered here in India, hmm ur happiness may turn to sorrow. If u are not careful nd precise not every country will discover oil hv that in mind ok? Nd do u know hw many country in this word? Mctwww.
Re: India, Nigeria's Biggest Consumer, Discovers Oil by obinnakenedo(m): 3:21pm On Jun 10, 2013
Think Agriculture! Think Herdsmen! Lol
Re: India, Nigeria's Biggest Consumer, Discovers Oil by Nobody: 3:22pm On Jun 10, 2013
I can now for the first time foresee the break up of Nigeria.

It was oil that was keeping us together.

Once oil becomes worthless, there won't be anything to keep Nigeria together.

I suspect even now that oil prices may be being kept artificially high until the multinational oil companies sell off their interests and recover their investments in Nigeria and other oil producing nations.

This would not be a good time to buy back oil blocks from Shell or whoever.
Re: India, Nigeria's Biggest Consumer, Discovers Oil by achi4u(m): 3:23pm On Jun 10, 2013
Well let the nigeria oilwell can dry-up asap.
I've never benefited any dime from dat thing.

1 Like

Re: India, Nigeria's Biggest Consumer, Discovers Oil by Raxz(m): 3:25pm On Jun 10, 2013
seunfly: This has been anticipated since 5years ago, yet we are talking now. I think we Nigerians lack the capacity to plan for the future until die minute when we will start our fire brigade approach.
it is nt in our national spirit to plan, all we knw hw to do is to think of who become the president, wht religion and wht part of the country is he from. We focus our attention more or things tht are nt relevance to us rather thn things that will make us become a develop nation. May God help us in this country tht we are without a good and sustain national plans.
Re: India, Nigeria's Biggest Consumer, Discovers Oil by Nobody: 3:29pm On Jun 10, 2013
I resemble person wey de chop oil money
Wetin concern man with woman dressing ......smh.......

Re: India, Nigeria's Biggest Consumer, Discovers Oil by Phikom(m): 3:31pm On Jun 10, 2013
profjustine: VERY SOON NIGERIAN LEADERS WILL BE DRINKING THEIR OIL
dem go drink d oyel with effisy...
Re: India, Nigeria's Biggest Consumer, Discovers Oil by aalex1: 3:34pm On Jun 10, 2013
eGuerrilla:

Source

I won't b surprised,due 2 d stupidity and senseless state of our leaders,in d nearest future,despite nigeria havin oil,we'll start buyin crude from US,cos dey'll find a way wit IMF and d World bank 2 tell us dat,dat is wat our economy needs to thrive and den we'll export d crude 2 anoda country 2 refine 4 us and sell it back 2 us cos our leaders wil stil refuse 2 build refineries.by dat time,a litre of fuel wil b 2000 naira,and den U̶̲̥̅̊'ll pay 500 naira jst 2 enta d filling station 2 buy fuel at dat amount.
Re: India, Nigeria's Biggest Consumer, Discovers Oil by afolayangs(m): 3:48pm On Jun 10, 2013
eGuerrilla:

Source

No shaking Nigeria only need to develop its non-Oil export potentials
Re: India, Nigeria's Biggest Consumer, Discovers Oil by ifyn4real: 3:50pm On Jun 10, 2013
it is high time our govt should think outside the box, take a look at dubai they discovered crude oil in the 60s but experts told them that the oil will dry up in 2016, they are fully prepared now, today dubai is the most tourist destination in the world.............this need to serve as a wake up call

1 Like

Re: India, Nigeria's Biggest Consumer, Discovers Oil by HonKontigi: 3:52pm On Jun 10, 2013
gbanikiti: One day, Nigerian Oil will be for only Nigerians! cool
That day is not even far from now. These Niger Delta terrorists will soon come back to their senses, that is, if they had one before. The richest states will be the ones that develop their agric and minig sectors. I am calling on those state now to pls be magnimous and accept massive influx of desperate refugees as niger deltans flee to the new eldorado, having despoiled their homeland themselves through pipeline vandalism.

1 Like

Re: India, Nigeria's Biggest Consumer, Discovers Oil by Nobody: 3:59pm On Jun 10, 2013
cheersת‎ ‎ this is goodnews.
Re: India, Nigeria's Biggest Consumer, Discovers Oil by nijanigga: 4:06pm On Jun 10, 2013
I'm now more than optimistic that the days of Nigeria are numbered. Gone are the days when impotent Fed govt will go to a state and say they want to tap their mineral resources,after all the degradation in Niger-delta,no way absolutely no way.
When money stop following,millions of undeveloped or underdeveloped human resources will turn to crime and hopefully bloody revolution.
It's coming.

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