Tunami:
buhari is giving hope to
the hopeless almajiris.

Standing5:
Time and money used for oil exploration could av been used for agriculture. Stop feigning stupidìty here. It isn't funny. Plus oil exploration has gulped trillions without results. It is a gamble.

donguutti:


As an intelligent fella , i assume you know that the Federal government Contributions to Oil exploration and Production
(JV cashcalls, exploration) is not captured in the Fed budget but in NNPC budget,On the issue of contribution to FRONTIER exploration
i would urge you to look at The MTEF 2016-2018, Page 23, Line item 61, its named FRONTIER EXPLORATION SERVICES, 40 Billion p/a approx over
period....

tickles2luv2016:



na because of people like u buhari wan explore other areas to get oil,before now i thought it was only niger delta that has oil but i now know that the north has capabilities too cos over reliance on niger delta oil wont take us anywhere in dis country.

HungerBAD:
Nice one there.

This is a President with a Vision for the Country. If only, the Cabals everywhere will just let him work, because for every 3 steps this man takes forward, there are those that will pull him back one step.

You will get there Mr. President.

We the real Nigerian's don't regret our votes for you.

HungerBAD:
Nice one there.

This is a President with a Vision for the Country. If only, the Cabals everywhere will just let him work, because for every 3 steps this man takes forward, there are those that will pull him back one step.

You will get there Mr. President.

We the real Nigerian's don't regret our votes for you.

maxtamazin:


Seriously, Are you daft? With all the problems going on in this country, do we need another waste of money? Why do we need to spend another billion of dollars for oil exploitation while the one we have are not sold.

I thought Nigeria was broke.....why not use the money for meaniful projects like educating the illiterates in the North, maybe we will have peace in Nigeria.

SycophanticGoat:



Animals do have respect for goats but progressive cockroaches don't.. Where do you belong brother?

Progressive01:
I don't know about roaches, perhaps you may ask someone down your bloodline.

I aint the one calling you a Goat dude, you say you are a Goat, a sycophantic one for that matter.

How does it feel being a Goat bro?

jaybee:


Pathetic. Pathetic indeed.

Most comments on this thread make a f00l of Nigerian youths.

Just think of it.

What is 'diversification'? what does of mean in the context of Nigeria's economy?

Does it meat jettisoning what you have (in this case oil and gas), while embracing what you don't have (like the proverbial, and improperly defined, agriculture; mining, etc) ?

To understand 'diversification', all you need is to define it. Any dictionary should provide such definition. Diversification is simply the act of introducing a variety (in our case, in investments, and production of goods and services); instead of investing mainly in the oil and gas. it does not connote zero investment in oil and gas and 100% investment in other sectors. Remember that Nigeria already has huge investments in oil and gas to leverage on. After all have you ever heard that a bird at hand is worth two in the air?

The concern on timing for investment in oil and gas exploration in Nigeria now is highly misplaced and shows ineptitude of the highest order, if not outright mischief. Just think of it, the crude oil being produced Nigeria today (which was sold as high as $146 in the recent past), at what price was crude oil when the exploration was done? The exploration was undertaken in the 80s and early 90s (oil exploration and production is a long gestation investment) when crude oil was at its lowest around $9 - $14. This is a good time to invest when the price is low and the cost of exploration is also low. When the price rises, the cost of exploration will be high and making the investment decision will become more difficult. it makes economic sense.

Finally is the money for this so-called frontier exploration in the budget? this i strongly doubt. If it is there, someone should please show, not tell me. Which means as usual, government only facilitates these activities, and does not really put in tax payers' money directly into it. Mostly, the investors put in their heard-earned hard currency and takes all the risks in anticipation of commercial hydrocarbon discoveries that would permit them to recover their money in a long time in the future.

SycophanticGoat:



Only cockroaches know how it feels so ask someone down your bloodline...

Progressive01:
You must be a very shy Goat.. Just a simple enquiry and you thrashing and bleeting all over the place.

Which of the species are you? Those whose smell you could perceive from a mile away or the "gudali" type?

Quakertellicus1:
Finding oil in the North does not mean secession.

They still have to export the oil. And while there are plans for a trans Saharan pipeline....transit fees must be paid with that eventuality.

A united Nigeria means that the North has free access to the sea to export the oil.

Chad that produces oil has to pay Cameroon for the privilege to pass a pipe to export it. Not fair.

DauraDullard0:
You're not completely right.

1. It has always been the dream of the North to discover oil.

2. Immediately they discover oil in the North, trust me they will be gone in a minute.

3. They simply have to weigh the fees involved in using Biafran seaports to export their oil and what revenues are accruable to them as a region as opposed to sharing same with the rest of a united Nigeria.

4. If you were in their shoes, what choice would you make?
(a). Key into an already existing disintegration agenda and enjoy your newfound wealth alone.
(b). Continue with the existing structure and get minimal value for their newfound oil.

Last Bullet- The North will definitely pull out once they discover oil in commercial quantities. That's why they're desperate to find oil. Nigeria's unity has always been hinged on oil from Biafra.

ITbomb:
When you get the oil, where una go sell am to.

I won't be surprised if I see military protecting small refineries in the north while destroying the ones in the south

Ojiofor:
Buhari wants to discover oil in BH territory?
In mama P voice''''''''''' there is god o in this money you are wasting.

bukqar:
FRIEND THERE IS NOTHING TO DISCOVER THE OIL IS ALREADY THERE AND A VERY HEAVY CRUDE AS THE ONE IN SAUDI ARABIA.IF U LIKE GO HUGE HIGH TENSION CAGE POLE

2sexycom:
Buhari will definitely lose 2019 election, before it even begins.

Where there is no light, no fuel, job losses, Fulani killings, dollar is 305 to naira, he travels too often, investors fleeing the country, businesses are shutting down... refineries are in comatose.

This is the best Buhari can come up with.

I regret ever supporting this man honestly.


P.S: Those saying I never supported Buhari, I believe @Chibenze, Rozayx5 and Ideology can bear me witnesses.

I don't attach sentiments where logic and objectivity is needed.

Amoto94:
If you're as an educated "Southerner" can spew this thrash then I believe your education is nothing but mere paper qualifications. How do you diversify when there is no money to do diversification, and do you want an IMF or WB loans that'll give stringent conditions that will hurt the populace and enrich the cabals? Oil will still be an essential commodity for the next 100years and the government needs to find more reserves to replace the depleted reserves since oil is not a renewable product. South Sudan said Sudan were the cause of their problems because of oil, but we all can see that's not the case after South Sudan decided to separate and the rest is known to those who reflect

netinformat:

If at all u supported d old man as u claim, I believe u gave him 4 years mandate & not 10 months...

jaybee:


Pathetic. Pathetic indeed.

Most comments on this thread make a f00l of Nigerian youths.

Just think of it.

What is 'diversification'? what does of mean in the context of Nigeria's economy?

Does it meat jettisoning what you have (in this case oil and gas), while embracing what you don't have (like the proverbial, and improperly defined, agriculture; mining, etc) ?

To understand 'diversification', all you need is to define it. Any dictionary should provide such definition. Diversification is simply the act of introducing a variety (in our case, in investments, and production of goods and services); instead of investing mainly in the oil and gas. it does not connote zero investment in oil and gas and 100% investment in other sectors. Remember that Nigeria already has huge investments in oil and gas to leverage on. After all have you ever heard that a bird at hand is worth two in the air?

The concern on timing for investment in oil and gas exploration in Nigeria now is highly misplaced and shows ineptitude of the highest order, if not outright mischief. Just think of it, the crude oil being produced Nigeria today (which was sold as high as $146 in the recent past), at what price was crude oil when the exploration was done? The exploration was undertaken in the 80s and early 90s (oil exploration and production is a long gestation investment) when crude oil was at its lowest around $9 - $14. This is a good time to invest when the price is low and the cost of exploration is also low. When the price rises, the cost of exploration will be high and making the investment decision will become more difficult. it makes economic sense.

Finally is the money for this so-called frontier exploration in the budget? this i strongly doubt. If it is there, someone should please show, not tell me. Which means as usual, government only facilitates these activities, and does not really put in tax payers' money directly into it. Mostly, the investors put in their heard-earned hard currency and takes all the risks in anticipation of commercial hydrocarbon discoveries that would permit them to recover their money in a long time in the future.

Standing5:
the Problem u subtly failed to acknowlege about your argument is that it involve dependence on export proceeds. Agriculture helps secure you table with food. And can also generate forex. Industry help keep capital flight in check and boost forex too. It is super-foølish to go into further oil exploration now.

jpphilips:


How will agriculture generate forex for you?

Standing5:
Same way it did for Brazil and Nigeria in the past. When you have enuf food on your table you can sell the excess to nations who don't farm either as raw material or as finished product like the tomatoes we import from China. If things gets rough you starve your customers to feed yourself first. It is called food security.