ProfessorPeter:
Then Nigerians should be ready to boycotts all South Africa goods and services in Nigeria.

Story story!!!!

Everybody is just saying agriculture as if you can enter farm if you are asked to. no matter how FG empower farmers they can never generate revenue for the budget of this large country.

After all Hausa farming never added any thing to FG revenue only based on subsistence farming but FG support them every year with huge amount and mechanization

Banter1:
like seriously? Who cares if they don't by our oil anymore? You sound as if we are gonna die or starve to death if they don't buy our oil. We don't care about SA. Mtn should pay the fine asap.

Infact I'm disappointed with the apartheid regime in SA then, they should have gathered them all in a concentration camp and Gas them all. what nonsense.

Wow! Its nice to know our existance is slowly killing you! What you wish on others usually comes back to you multifolds. We are your worst nightmare!

Oyel go soon finish make everybody answer dia Papa name

Adminisher:


Every oil buying country is taking this position. It has jack to do with MTN. India is a case in point . They are buying massively from Nigeria but have taken a position with Iran. Nigerian oil is high quality and priced above the Brent benchmark so every country wants to dilute and get the best of both worlds. Very little to do with MTN.

This is true, Iran is currently offering their Oil at a discount to regain lost customers, it will not last because at some point they will want to get market value for their Oil at which point transportation costs will dictate that SA will come back to Nigeria for Oil. Iran can't and wont discount it's Oil forever.

OohLalah:


Wow! Its nice to know our existance is slowly killing you! What you wish on others usually comes back to you multifolds. We are your worst nightmare!

you are nothing...bunch of post-apartheid freaks....thats what you are......

imagine......white-people holding you captive till the early 90s.....dont you people have shame a tall sef??.....

Okanokan:
$26 Dollar per barrel here we come. The South African Government has just done the needful, a TIT FOR TAT policy, which the Buhari Government employed in 1984 successfully. You can kill Mtn and expect us to pay you.

you sef and your narrow analysis..that policy decision if it is true is not targeted at Nigeria, Iranian terms of trade might be more favorable to south Africa than the terms of trade in Nigeria..you go school naaaa think broader bros..your school fees no waste naaa

SAs who laugh at Nigeria should watch this clip



https://www.youtube.com/watch?v=QDZhec12o_k

pls Nigeria should tell buhari to build refineries and sell refined products instead of wasting our crude, gushhhh am tired of dis country governed by dullards rubish

crazygod:
Are we still talking about oil in this country? like really? Don't this govt peeps read nairaland ni? There are lots of solutions to Nigeria's economic problems that have been stated on this forum. Govt should employ people that will be reading nairaland everyday if his economic team can do anything. infact, do we have an economic team in this country? i dey vez sef. I foresee lots of oil workers being laid off. Crude oil ko jawo mo.

.
chairman you are making lots of sense the ideas I've seen on nairaland alone is enough to put us through this tough situation. and p.s it actually "crude oil o jawo mo"

tsdarkside:


i even heard you even need around $28 to take it out of the ground....

imagine........................................................

oil is worthless today...

oil must sell atleast $100 for you to break even with your expensis...........

oil is nothing.......i even hope it even get more worthless...so that the earth can rest from our hunger for it.....

That's why Ibe kachiku is ensuring that some of the oil refineries are working effectively and the ineffective ones are privatized so they can supply the country to an extent. If not, we'll start borrowing to import oil.

Those dumborins in the house of assembly are not bothered about the decreasing price as far as their salaries and "sitting/sleeping" allowances are being paid.....
Crazy recurrent expenditure that's being enjoyed by 0.001% of the population..

"Diversification from oil is already taking place" na for mouth we dey hear am.

MadCow1:


Irans oil is currently cheaper and more available.

Costs more to ship though. We can reduce shipping levies to be competitivr

Emekamex:


They won't be affected that much, they have a more diversified economy when compared to ours that rely mostly on crude oil; we will be the one to suffer more.

South Africa are on the path to destruction Nigeria was 40 years ago, the only thing masking the rot in their economy is the fact that their infrastructure was more developed than ours. The rand is in freefall and they are also a commodity based economy at a time all commodities, not just Oil are in freefall, though like you rightly say they are more diversified.


We can fight amnongst ourselves but we have to recognise the problem with us as Africans. One we are in charge we destroy!

bubu is a monkey and his believers chimpanzees

now this is the mess they have put us



this man should be giving us gworo recipe and easy way of making it not this

just look at dollars

Concentrate on radically expanding refining capacity and export finished products to most African countries but we cannot ignore South Africa, just like they cant ignore us, we both need to energize improve the lots of both nations.
We need to expand economic and political collaboration frontiers instead of shrinking the small one we have.
The fine on MTN may be logically ok but some underlying circumstances and long term consequences make it unreasonable.
We can chose to curtail loss of value by capital flight through the MTN vehicle by strengthening Globacom and encouraging Nigerians to invest in telecom. We can also mandate that companies with a certain level of balance sheet must enlist in the NSE so that Nigerians can retain some of the fleeing values.

MansaMoussa:
Nonsense!
We can boost the domestic market in Africa For our oil.
Secure a low interest loan from China and build a west Africa gas pipeline extending all the way to Gambia...then sell at rock bottom price, govt to govt..
Russia did it in Europe...we can do it

Shut up

ghen!! ghen! !!gheeeen!!!!!

tsdarkside:


you are nothing...bunch of post-apartheid freaks....thats what you are......

imagine......white-people holding you captive till the early 90s.....dont you people have shame a tall sef??.....

I do not talk to door knobs. Swerve!

Bubu blame GEJ for dis

lookandlaff:


I didn't say, the author of the article said so. Left to me MTN can go do one! AFAIAC we must collect every single penny of that fine. If they dont buy our Oil it's ok, we won't die, we will even be better for it because finally we will stop our over-dependence on Oil and look for other sources of revenues. The point behind posting the article was to highlight that MTN have no intention of paying.

bro, I was referring to what was said in the article and not you, never saw you in the picture but the point that mtn is still having the gut to say they won't pay.

Too Batd. Mehn..

was expecting these type of illiiterate comments, SA refineries are suited for iranian oil, and its far cheaper for SA to import from Iran. .

E don red vor mi country be dat.

We shall overcome

bubu is a monkey and his believers chimpanzees

now this is the mess they have put us



this man should be giving us gworo recipe and easy way of making it not this

just look at dollars

ooshinibos:
the wickedness of black people ..this is one of our problems ..we don't like one another ..why go to IRAN ..did they even help you during apartheid

y slam 1.06trillion naira fine on them when both parties could hv dialogue?

If this eventually happens then Nigeria oil revenue will decline further, good news for an average Nigerian as there will be more petroleum products in the system.

Bad news for looters as their projected income will decline.

Even if all business allies pull out of Nigerian oil deals, there will still be a struggle for petroleum products at exorbitant prices. The question now is despite all these factors why is it a struggle to access petroleum products. A possible cause is loop holes in the supply chain.

The federal govt should read the handwriting on the wall. It's high time Nigerian govt. strengthens its domestic petroleum supply for good. Establish twice the size of NNPC depots across Nigeria, ignore oil marketers, situate some depots at boundaries between states and boost security there so they can run 24 hours.

The revenues generated locally with these measures will yield near the amount generated from petroleum exports.

It is high time Nigeria eliminates middle men (oil marketers) and kick them out of business. You cannot run a business effectively when it is controlled by middle men.

So who wan come buy our oil now? Na to dey drink am from now on

SA refineries are built for Iranian crude, since the sanctions SA has had to import refined products because its very costly to operate refineries when refining non iranian oil

http://217.218.67.231/Detail/2015/09/17/429632/Iran-South-Africa-oil-exports-refinery-sanctions

barcaboi:
let's boycott shoprite and mtn and let's see who suffers

I'll not boycott any SA product. Shoprite? DSTV? MTN?, HELL NO.

stevecantrell:
Have MTN paid their fine yet ?

Same reason we lost a good client.... So at this point you still ask for MTN soon another client will pull off .... Poor international relations will hurts us the more....

Gaskia:
Concentrate on radically expanding refining capacity and export finished products to most African countries but we cannot ignore South Africa, just like they cant ignore us, we both need to energize improve the lots of both nations.
We need to expand economic and political collaboration frontiers instead of shrinking the small one we have.
The fine on MTN may be logically ok but some underlying circumstances and long term consequences make it unreasonable.
We can chose to curtail loss of value by capital flight through the MTN vehicle by strengthening Globacom and encouraging Nigerians to invest in telecom. We can also mandate that companies with a certain level of balance sheet must enlist in the NSE so that Nigerians can retain some of the fleeing values.

What you guys do not understand is, South Africa doesn't talk much but act a lot.

1. We had always bought Iran crude oil until 2013 when we forced to stop because of sanctions.

2. We have a working deal on crude with Iran before and we will still have a greater deal after sanctions.

3. This has nothing to with MTN or Nigeria but what is best for SA.

4. The Nigerian Government still has an option to negotiate and make concessions with SA if they want to and not throw tantrums and read things that are not there by retaliation

5. Iran is a gateway of SA companies to the middle east and so far they have been loyal and great friends than Nigeria.

6. Nigeria is a risky investment destination for SA companies and now SA is quietly cultivating new grounds to plant their companies that are less temperamental than Nigeria.

7. Keep watching by the end of the year all the SA companies that are going to expand aggressively to the middle east as an alternative to Nigeria and then majorly stock Nigerian products awaiting another tantrum from Nigerian Government and its people then just withdraw.

8. Lastly, boycotting SA companies will only come at a huge price for Nigerians. Employment, products sourced in Nigeria, Rentals of Malls and there is not even one network that can handle MTN client lines without causing a network standstill.

Dot take my word for it try it.