MissMeiya:


It's called statistics. The field of mathematics has come quite a long way, you know. It's possible to make estimations using certain formulas with an acceptable degree of uncertainty. That's how business forecasts are calculated, despite not knowing actual figures.

MissMeiya:


It's called statistics. The field of mathematics has come quite a long way, you know. It's possible to make estimations using certain formulas with an acceptable degree of uncertainty. That's how business forecasts are calculated, despite not knowing actual figures.

duni04:

Thank God the article said conspiracy theories. Everybody is so ready to believe there is a hidden plot somewhere while ignoring the fact that Saudi Arabia may simply be trying to guaranty its leadership in the oil market. Me I don't believe in any hidden plot or conspiracy. Its clear and open if you really want to understand.

cocoduck:

estimates that a plucked from the air LOL
It will never be reliable. Sorry.
The basic information one must have is the correct or near correct of the population of the country in question. I too can say that 98% are rich towing your line of argument.

hercules07:


It is not a conspiracy, that is the actual fact, I do not think the Saudis are doing it willingly, the US is behind it and the intention is to cripple Russia's economy and probably cause Social unrest in Russia.

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 demand that the 900 billion naira be used for what it is actually meant to be used for.
#return our 900 billion naira

signz:


Why

destante:
We just continue to go round a vicious circle in this country. Much talk, less action. Let them make do with focussing more on the real sector first, we can then take it from there.

omenka:
Are they just realising?? Oil prices are predicted to hit $70pb soon yet there seems to be no let up in Jonathan's looting spree.

Suarezilla:
What has the average Nigerian benefittedd from oil in Nigeria to be @risk? He should say dem' politicians whom own several oil wells are @risk.....Am sure this is story for the cows as long as the youths are concerned

jpphilips:


When oil falls to a budget deficit, they will increase taxes, that is what Mackenzie will recommend, but the looting continues.

Billyonaire:


70% of Nigerians live under 2 dollars a day ? Guy, are you educated at all ? Have you ever traveled abroad to see how life is ? Nigerians spend money than most countries in the world, and 2 dollars is actually nothing to most Nigerians.

bushdoc9919:
Ladies and gentlemen of nairaland...you see why we have to stop relying on oil?
For a long time on this thread....I have said it, and I will say it again....oil rich countries are not economic superpowers....unless they have small populations and/or strong industrial bases.
Since the 70'S, Nigeria has been over dependent on oil. It was the dependency on oil that killed off our industrial sector in the 80's....when we became so dependent on raw materials imported with oil money.
Once again, it is the year 1982. The Oil Price shock is at hand. Once prices drop to $70 per barrel....we would be in deep trobule.
Nigerians....[size=18pt]OIL IS A CURSE.[/size] Time to end this dutch diseased economy that is Nigeria's.
P.S...Every Nigerian must read this article

Feraz:
I knew I'd find you here. . . . Lol. . .

I think it's time Nigerians reason together and force the government to stop its dependency on oil. It's time to face other sectors of the economy that will generate wealth and high standard of living for Nigerians.

bushdoc9919:
Here is what Nigeria needs to do now.

1.We need to end the fuel subsidy...and withdraw 30% of all non-oil producing states money....as well as 15% of oil producing state's money....and use the money for a five year plan to improve electricity, rail transport and six selected universities.....as well as invest in public transport and technical schools.

2.We need to encourage each and every state to come up with plans that would enable them to be able to live without 50% of the allocation from Abuja in the next five years.(With the improvement in power and rail envisaged in point one...we should get there).

3.Corruption must be punished. No excuses.

4.A tax rate of N400,000 per every N1million for people earning N1million and above per month...plus penalties for those with foreign accounts. We must do as the US does and force European countries to give up details of Nigerians with accounts above.

5.Within 10 years, we would no longer be dependent on oil.

God bless Nigeria.

kevinaduga:
you are the one sounding uneducated. Nigeria has a population of 170 million. That you know a few who are living in affluence, doesn't mean everybody is. You have travelled abroad and seen how life is, have u been to the villages, especially in the north, and even on the street of our cities, to see the reality of most Nigerians. Stop allowing sentiments cloud ur vision and actually look at the reality on ground. Majority of Nigerians live below the poverty line, and no matter how hard u choose to wish it away, it's still the bitter truth.

kevinaduga:
you are the one sounding uneducated. Nigeria has a population of 170 million. That you know a few who are living in affluence, doesn't mean everybody is. You have travelled abroad and seen how life is, have u been to the villages, especially in the north, and even on the street of our cities, to see the reality of most Nigerians. Stop allowing sentiments cloud ur vision and actually look at the reality on ground. Majority of Nigerians live below the poverty line, and no matter how hard u choose to wish it away, it's still the bitter truth.

MissMeiya:


I didn't even bother to respond to that fool.

datguru:


You don't seem to understand, they seem to concentrate more on oil, if the attention that is given to the oil sector is also given to other sectors my brother you and I will think of travelling to any other country because things will change

Billyonaire:


70% of Nigerians live under 2 dollars a day ? Guy, are you educated at all ? Have you ever traveled abroad to see how life is ? Nigerians spend money than most countries in the world, and 2 dollars is actually nothing to most Nigerians.

JUBILEE2000:

shale oil discovery is not the reason for oil price fall....its far more expensive to produce shale oil than crude..fluctuation in oil price is normal in the oil market