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Nigeria Oil Output At 4 Year Low - Financial Times - Politics (2) - Nairaland

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Financial Times calls Nigeria's economic approach the height of foolishness / Buhari PR Article On Financial Times Paid For By Delta And Cross River State Gov / Financial Times Newspaper Hails Tinubu As The Godfather Behind GEJ's Defeat(Pic) (2) (3) (4)

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Re: Nigeria Oil Output At 4 Year Low - Financial Times by tumababa(m): 12:18pm On Aug 29, 2013
make d thing finish abeg! so there can b peace in this country!
Re: Nigeria Oil Output At 4 Year Low - Financial Times by MAYOWAAK: 12:18pm On Aug 29, 2013
The story of Nigeria is like that of a father who has 36 children. He takes the income of his wealthy children to a central port and distributes it among his 36 children. A good father will encourage all his children to be creative and hardworking so that they can make the money to sustain themselves. A bad father will ignore the larger picture of every child being self-sustaining and insist on redistributing his children’s wealth. The ultimate danger is that you will have children who are extremely lazy and unwilling make good use of their talents and gifts. Every month, they will go to “papa” to give them their own share of the other children’s wealth. It will now reach a stage that they will start complaining that the money is not enough to buy the limousine of their dream.

I understand a bit of the logic of natural resources. The oil in the Niger Delta is a gift of nature, many will argue, since the people played no role in putting it under the ground. So let’s share it—it belongs to all. But so also can we say of human beings—we are not gifted the same way! Michael Jackson could sing better than his brothers and sisters. But it would be wrong to compel Michael to bring his income to the table so that his father could share it among all the Jacksons. If that were the case, Janet or Jermaine or LaToya would have no reason to do any work at all. They would all be waiting for the month to end to collect their own FAAC. But Janet honed her skills and became a success in her own right as an artiste. She may not be anywhere near the success of Michael, but she is certainly a success. The Jacksons can have a common purse where they can contribute resources for the common cause of the family. There is nothing wrong with that. But to make a policy of taking from one Jackson to sustain another Jackson is illogical.

There is no state in Nigeria that cannot sustain itself if the governors understand the art and science of development. If it is natural resources, every state has them. If it is value-added agriculture, every state can become an industrial host. These are the things that can generate employment, generate economic activities, generate tax revenue and shore up the incomes of the states. The real challenge for the governors is: how can they use what they’ve got to get what they need? How can they put the right policies in place to attract the needed investment? How do they spend wisely to make state economies viable? These are the questions they should be asking. But because of the ease of travelling to Abuja for federal allocation cheques every month, forward planning and critical thinking are no longer part of governance.

The eternal reliance on oil revenue has done a lot of damage to the federation. Every day now, we hear the Niger Delta people say “our oil, our oil”. During the petrol price hike crisis last year January, some Niger Delta person, trying to suggest that the protests were unjustly aimed at President Goodluck Jonathan, said something like: “If our son is not good enough to be president of Nigeria, then our oil is not good enough for Nigeria.” This warped logic—which tends to paint oil as the solution to all human problems—defies the fact that the most advanced countries in the world do not rely on oil revenue. Even Norway, the poster boy of successful management of oil revenue, survives on tax. Their oil money is saved largely for the rainy day.

But do you blame us? Why do we need to stretch our brain to dream of building our own Microsoft and Apple when we can look up to Abuja for the flow of petrodollars every month? Why should Bauchi bother to tap its tourism potential? Why should Bayelsa dream of feeding Africa with its FADAMA rice when there is a fat FAAC cheque to be collected in Abuja monthly? Why should we quicken Ajaokuta so that the fourth biggest steel company in the world can begin to operate fully and spice up the economy? Why should Aba be developed into our own Taiwan or Japan? There is no such incentive. The only incentive I can see in Nigeria is federation account.

It wouldn’t even matter if we are utilising federal allocations to develop the most important resource at our disposal: the human capital. Oil is not the real deal, no matter how dominant it has become in our lives. It was human beings that designed cars and made petrol as important as it is today. Human beings are now designing cars that run on bio-fuels, electricity and solar energy. By the time the cars become popularly accepted, the demand for oil could drop. It may not happen in the next 50 years but it would happen someday. So the wise person does not keep emphasising on oil and ignoring human capital. The wise person thinks about a future where our lives will no longer depend on oil but on the quality of the brain. It was human beings that invented aeroplanes, computers and phones, etc. If we are wise now, our energies should be devoted to getting out of this oil trap.

I wish we could discuss these issues honestly without trading insult and threat. The quality of public debate is very poor in Nigeria. We have a real problem in our hands but instead of engaging in fruitful debates to chart the way forward, we specialise in name-calling and blackmail as if that would solve our problem. Those of us who have no interest in politics or politicking will continue to make our point.

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Re: Nigeria Oil Output At 4 Year Low - Financial Times by iterator25: 12:20pm On Aug 29, 2013
Nigerians will only protest if it starts telling in their pockets, for now, everybody seem ok

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Re: Nigeria Oil Output At 4 Year Low - Financial Times by Afritop(m): 12:23pm On Aug 29, 2013
JONATHAN'S PDP LED GOVERNMENT REALLY MEANT TO DRAIN AND DRY UP THIS COUNTRY'S REVENUE. I AM NOT SEEING JONATHAN AND HIS GOVT WORKING IN THIS CAPACITY BUT RATHER I SEE HIM STEALING IN THIS CAPACITY. I never imagined that this was one of his agenda in his first term in office
Re: Nigeria Oil Output At 4 Year Low - Financial Times by FindOut(m): 12:42pm On Aug 29, 2013
When Tunde Bakare said GEJ's destiny was to bankrupt Nigeria, many thought he was lying. Fresh air o!

The small change (only 9 billion dollars pere) we have left in the ECA has been depleted by a further whooping 50% between December and now. Wetin go remain by by next January? Debit? Issorite.

Without mincing words, anyone who votes or even campaigns for GEJ in 2015 is an enemy of Nigeria who does not care about this country and its people. PERIOD. Worst thing is the hungry folk screaming "our oil", "our son" are even poorer than they were in 2011 and the politicians are already stashing the billions out of which they'll use a fraction of it to buy them guns to kill each other in 2015. Nonsense. GEJ is one of the worst leaders to have ever ruled Nigeria since independece. IBB will soon start becoming a saint compared to GEJ. This man is not fit to be the VC of a University! But he'll have enough time to reflect on his life when his mumuness and corrupt life lands him in prison which should be in the not too distant future.

All those who are relying on guns and bombs to win 2015 will themselves be killed by those guns and bombs before they get a chance to perpetrate their violence on the long suffering (even if largely unthinking) Nigerians.

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Re: Nigeria Oil Output At 4 Year Low - Financial Times by MichaelSokoto(m): 12:58pm On Aug 29, 2013
Promhize: As much as GEJ is working, am disappointed with the way he's handling corruption. Mehn! If u solve the issue of corruption and "the police", you have solved 85% of our problem.
Mehn, GEJ as much as I would want to vote for you, this corruption issue would give me a rethink, no matter what he does, as long there's this level of corruption it will eat up the revamped airports, roads, privatised phcn, railways and spew the vomit for Nigerians to eat.

This is where the opposition should be criticizing and checking the government or even make promises instead of blabbing about 40000mw without any plan about how they would realize such goal.

Well, I'd say it runs in Nigerians blood, since even religious leaders are not setting good examples.
Pardon me 4 sayin dis...
U're a FUUUUUUUL 4 spewin trash here
Wat led u in d 1st instance castin vote 4 corrupt, selmeat, greedy set of individuals bearin d PDP? Alas u're here tellin us "it's in our blood".
It's not in my blood 2 be corrupt but in ur blood & likewise d ilks & a$$h*l*s u mingle wit all in d name of, "na we south-south". Rabish angry
Re: Nigeria Oil Output At 4 Year Low - Financial Times by M16: 12:59pm On Aug 29, 2013
@papabrowne. please factual with information you dispense here.tompolo contract with Government hasn't expired, it is due for review end of this year. It a sign of incompetence that the federal Government can't secure it's resources that is the lifeline for survival.
States are experiencing revenue drop from the FG and the GEJ can't see that the danger its posing to the existence of the country.
God help us all

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Re: Nigeria Oil Output At 4 Year Low - Financial Times by victorv12(m): 1:03pm On Aug 29, 2013
President Jonathan's government is the worst goverment I've ever experienced in my life. Massive looting, goverment and political plunderers has completely crippled the system, totally!

Even, Abaches regime wasn't as mad as this! The future of the Nigeria youth is bleak with all these madness. There is nothing to fall on. No education and security.

The youth should better get themselves prepared! The indices our country is heading towards destruction is too glaring!

1 Like

Re: Nigeria Oil Output At 4 Year Low - Financial Times by MichaelSokoto(m): 1:07pm On Aug 29, 2013
Nobody iz kommentin *smh*
Na wa oo! sad
Re: Nigeria Oil Output At 4 Year Low - Financial Times by Nobody: 1:46pm On Aug 29, 2013
Our problem is mismanagement and corruption.
we need a check and balance system,to check Ministers,Politicians-we need a well structured society where no arm of Government control the police,EFCC and such anti-corruption bodies...this is the only way we can put a halt to wastages and stealing of our needed funds.
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Re: Nigeria Oil Output At 4 Year Low - Financial Times by vladimiros: 1:47pm On Aug 29, 2013
TO ALL THE MUMUS COMPLAINING
SHEY UNA THEY SAY ND OIL NO BETTER ANYMORE..

OYA STOP COMPLAINING NAH?
Re: Nigeria Oil Output At 4 Year Low - Financial Times by Nobody: 1:55pm On Aug 29, 2013
My prayer is even that the crude oil should dry up so that EVERYONE will go and rest. Why all these alarm and cries about crude oil? Its possible the people in the Niger Delta, whose environment have been dilapidated by oil exploration, are earning their daily bread by harvesting crude oil in their backyards. Until we make the oil bearing communities have bigger stake in the oil exploration on their ancestral land, they will continue to harvest their God given resources. What you call crude oil theft is what some others call harvest of God given resources. The oil bearing communities needs to have far bigger stake in this oil legally. That will make them protect the oil facilities.

While e-warriors are crying over crude oil theft, the Niger Delta people are not complaining. That alone says alot.

Meanwhile, I pray the oil should dry up so that the fight and killings over Aso Rock will reduce. All the struggle for Aso Rock is a struggle for who presides over the sharing of petrol dollars from crude oil sales. That is being done by GEJ now but Tinubu and Buhari desperately want the position. The oil should dry up so politicians and Nigerians will live on hardwork and not on rent economy. Nigeria should prepare for an economy that is not oil dependent.
Re: Nigeria Oil Output At 4 Year Low - Financial Times by rman: 2:40pm On Aug 29, 2013
Sincere 9gerian: My prayer is even that the crude oil should dry up so that EVERYONE will go and rest. Why all these alarm and cries about crude oil? Its possible the people in the Niger Delta, whose environment have been dilapidated by oil exploration, are earning their daily bread by harvesting crude oil in their backyards. Until we make the oil bearing communities have bigger stake in the oil exploration on their ancestral land, they will continue to harvest their God given resources. What you call crude oil theft is what some others call harvest of God given resources. The oil bearing communities needs to have far bigger stake in this oil legally. That will make them protect the oil facilities.

While e-warriors are crying over crude oil theft, the Niger Delta people are not complaining. That alone says alot.

Meanwhile, I pray the oil should dry up so that the fight and killings over Aso Rock will reduce. All the struggle for Aso Rock is a struggle for who presides over the sharing of petrol dollars from crude oil sales. That is being done by GEJ now but Tinubu and Buhari desperately want the position. The oil should dry up so politicians and Nigerians will live on hardwork and not on rent economy. Nigeria should prepare for an economy that is not oil dependent.

Common dude, you are losing it. It is better not to comment than to try and justify criminality.
Yes, we understand you work for GEJ but you should be wise enough to avoid causing more damage to his image by such a comment above.

All government has their strong points and weak ones, and honestly GEJ's government has not really dealt with corruption appropriately.

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Re: Nigeria Oil Output At 4 Year Low - Financial Times by omenka(m): 3:32pm On Aug 29, 2013
Sincere 9gerian:
@Gbawe..,the chief hunter of BAD news is already here. No surprises.

Yes, oil production now is low but that too is temporary. It will be fixed.

You are such a disgrace. How do you cope with yourself??

3 Likes

Re: Nigeria Oil Output At 4 Year Low - Financial Times by Nobody: 3:48pm On Aug 29, 2013
rman:

Common dude, you are losing it. It is better not to comment than to try and justify criminality.
Yes, we understand you work for GEJ but you should be wise enough to avoid causing more damage to his image by such a comment above.

All government has their strong points and weak ones, and honestly GEJ's government has not really dealt with corruption appropriately.
I'm not defending anything. I say it the way it is and my expectations are realistic. What you call stealing of crude oil or corruption is what oil producing communities call harvest of God given resources. If you have a solution to the problem, you can share with us.

Go to the nearest PHCN office or telecommunication company and ask them how much of their facilities they lose to vandals on a daily basis. If people, ordinary Nigerians like you and I, steal transformer components and cables that does not belong to them, how much more will they harvest or steal crude oil that is in their backyard? Share with us the solution of the problem if you have any. Its not enough to lament, that's easy, share with us the solution.
Re: Nigeria Oil Output At 4 Year Low - Financial Times by Wsdm: 4:56pm On Aug 29, 2013
Jonathan is a colossal damage to this country. The venom he has released to this country shall take decade upon decade of good governance for us to wipe it up our system.
He is truly the Satan when the Muslims Says, "oh Lord cast out Satan the accursed one"( a'uzu billahi minashaitonir rogim).
It will take eternity for a thread like this to hit several pages because all his hired thugs will not come here.

1 Like

Re: Nigeria Oil Output At 4 Year Low - Financial Times by Nobody: 12:16am On Aug 30, 2013
Horus:

I concur. It is impossible to steal such huge quantity of national resources where there is a government in place, unless it is government people that are doing the stealing. This "Government" should be removed before they suck Nigeria dry
That is one of their cronies. U can neves defeat them in an argument or argue them to a fault. The way they have mastered deceptive oratory and defence makes u forget ur aim and see them as those who are in D need of help and pity while demeaning state of nigerians remain. They look more burden than D masses but all those, are yokes & tatics of suppresion of which there continue to B corruption. Nigeria offical wether b4 a court or being interviewed can never give u facts. Simple sentence and statement which are striaght forward is far frm them. Alway beating abt D bush.
Re: Nigeria Oil Output At 4 Year Low - Financial Times by Nobody: 12:21am On Aug 30, 2013
Gbawe:

Gutter snipes is all you are capable of as a small-minded cretin lacking ideas or the ability to focus on issues. When one then deals with your uncouthness, your fellow GEJ crybaby worshippers will be here crying on your behalf.

It is only fraudsters like you, because Nigeria has warped many to be the way you are, who would call someone telling the truth "hunter of bad news". In sane climate, GEJ would be nowhere near leading a decent school let alone a nation. Yet I cannot blame you. I doubt you have ever set foot outside Nigeria to know that blatant criminality and corruption, especially perpetrated by those elected to lead a nation, is not supported openly as you and others do here. Guy, you are sick. I mean it. Very sick.
D first post i wrote was 4 this his comment @insincerenigerian. I mistake post it to another persons post. Wht an irony!
Re: Nigeria Oil Output At 4 Year Low - Financial Times by emiye(m): 12:59am On Aug 30, 2013
Not surprised, since GEJ is using reputable oil thieves like tompolo ,dokubo,... to "secure" our pipelines
Re: Nigeria Oil Output At 4 Year Low - Financial Times by ShineIt: 4:57am On Aug 30, 2013
emiye: Not surprised, since GEJ is using reputable oil thieves like tompolo ,dokubo,... to "secure" our pipelines

Haha!!!
My friend enjoy it while it lasts. You won't see any oil after 2015 should APC rig the elections. You guys should be happy its only 150,000 barrels of oil, could be worse.

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