Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,151,241 members, 7,811,678 topics. Date: Sunday, 28 April 2024 at 05:04 PM

Time To Shift To Agriculture: Oil Price To Fall Further - Politics - Nairaland

Nairaland Forum / Nairaland / General / Politics / Time To Shift To Agriculture: Oil Price To Fall Further (822 Views)

PDP Leadership Tussle; Sheriff, Markarfi Refuse To Shift Ground. / US Partners With Anambra On Agriculture, Oil & Gas, Industrialization & Commerce / Buhari Apologies To Nigerians Over Fuel Scarcity, Pump Price To Remain At N87 (2) (3) (4)

(1) (Reply) (Go Down)

Time To Shift To Agriculture: Oil Price To Fall Further by unitysheart(m): 7:00pm On Jul 12, 2015
Without further delay, our government must really now turn fully into strengthening our agriculture industry. The International Energy Agency has prophesied that the price of oil will further fall.

"Oil prices may have further to fall despite stabilising in recent months - and even beginning to rise modestly - because of a massive oversupply the International Energy Agency (IEA) has said.

The IEA said lower oil prices were likely to last well into 2016.

The agency added the world oil market was unable to absorb the huge volumes of oil now being produced.

It follows the massive drop in prices which started last summer.

The price of Brent crude fell sharply last year from $115 a barrel in June to $45 a barrel in January.

The current price of Brent crude is $59 a barrel.
The fall in prices has led oil firms to cut back investment in exploration, while North Sea oil has come under significant pressure.

All seven major global oil firms have also reported annual declines in profit as a result of lower oil prices."

Source: http://www.bbc.com/news/business-33476508
Re: Time To Shift To Agriculture: Oil Price To Fall Further by Nobody: 7:02pm On Jul 12, 2015
undecided
Re: Time To Shift To Agriculture: Oil Price To Fall Further by Emekamex(m): 7:06pm On Jul 12, 2015
Nigeria has been faced with many challenges for the past decades. Government after government have failed miserably in their bid to proffer solutions. The resulting effect is that the ordinary citizen bears the brute force of the ineptitudeness of those they elect to rule them. After a careful thought, I have come up with a simple solution which if followed stringently will greatly improve the situation in the country. Some valid points I have thought of are mentioned below;
(1) INDEPENDENCE OF STATES ON FG
-Each state should set up large hectares of lands for agriculture. Each should cultivate crops adaptable to their climate and weather eg cocoa to the west, onions and groundnut to the north, cassava and palm kernel to the east etc.
-By setting up huge farms, the problem of unemployment to an extent will be reduced by employing jobless youths.
-Each state should also set up a unique industry capable of transforming resources within them into wealth eg kaduna state could set up textile industries that can use cultivated cotton found within its reach and transforming to marketable finished products.
-States should also go into mining the vast mineral resources abandoned by previous governments and converting them to incomes for the states.

(2) MORE INVESTMENT INTO RENEWABLE ENERGY
-More investments should be made in renewable energy by building more dams. The Kainji dam has been a consistent supplier of about 800MW of power on a daily basis. If more dams of the same or greater power capacity can be constructed in areas near the ocean or water like Lagos, Bayelsa, Rivers etc, the power sector will improve dramatically. The advantages of dams to gas plants in use nowadys is its consistency and reliability. Gas plants rely heavily on gas supply from pipelines, which over the years have been consistently vandalized. If funds used by previous administrations to set up these disappointing gas plants were invested in more dams, the power situation would have been more positive.

(3) MAKE GOVT POSITIONS LESS ATTRACTIVE
-The constitution should be amended in a way that government officials don't have a direct access to state treasury. By doing this, people going into politics to get rich will be greatly discouraged.
-The salaries and entitlements of legislators should be drastically reduced in line with the minimum wages of nigerians. At present their salaries are 275 times higher than the minimum wage.

(4) INVESTMENTS IN REFINERIES
More refineries should be setup, if possible each state having at least one. This will reduce the power of the cabals and oil marketers who have over the years caused nigerians unbearable hardships.

(5) FESTIVALS TO PROMOTE ETHNIC EQUALITY
On a yearly basis, festivals that promote togetherness and equality of the different ethnic groups should be setup. By doing so, the problem of secession and rebellious activities will be minimized.

1 Like

Re: Time To Shift To Agriculture: Oil Price To Fall Further by Nobody: 8:53pm On Jul 12, 2015
God is beginning to answer my prayers, God please let this oil price fall so much that we wud be selling d oil to ourselves here in Nigeria. Amen.
Re: Time To Shift To Agriculture: Oil Price To Fall Further by doublewisdom: 8:57pm On Jul 12, 2015
Without oil, Nigeria will disintegrate faster than ice in a frying pan.

(1) (Reply)

View Short Profiles Of Newly Appointed Service Chiefs / I Know This Story Wll Not Make Front Page.thanks To That Pdp Dude From Okirika. / Oby Ezekweseli Reacts To Recent Bombing In Gombe And Yobe

(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. 18
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.