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Nairaland Forum / Nairaland / General / Politics / Dependence On Oil, Nigeria’s Costly Mistake — Buhari (871 Views)
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Dependence On Oil, Nigeria’s Costly Mistake — Buhari by brownlolly(m): 6:13am On May 26, 2016 |
By Levinus Nwabughiogu ABUJA President Muhammadu Buhari has said that Nigeria made a costly mistake by depending on oil as the mainstay of the economy. The President said the country was in for the worst times for failing to save or diversify its economy, which had been greatly affected by the crash of oil prices. Speaking while bidding the outgoing Iranian Ambassador to Nigeria, Mr. Saeed Koozechi, farewell in Abuja, President Buhari said he was convinced that with greater diligence, hard work and patriotic determination, Nigeria would achieve self-sufficiency in most of the goods on its import list. He said his government is vigorously pursuing the diversification project. “We made a terrible mistake by becoming a mono-product economy hinged on oil and we are now in a volatile situation, due to the crash in oil prices. “We have seen the benefits of diversification which helped Iran to survive many years of sanctions and still come out strong. We are now fully committed to economic diversification,” he said. Read more at: http://www.vanguardngr.com/2016/05/dependence-oil-nigerias-costly-mistake-buhari-2/ 1 Like |
Re: Dependence On Oil, Nigeria’s Costly Mistake — Buhari by Kondomatic(m): 6:15am On May 26, 2016 |
But he's still exploring oil 3 Likes |
Re: Dependence On Oil, Nigeria’s Costly Mistake — Buhari by richidinho(m): 6:15am On May 26, 2016 |
Diz man sef Abeg go treat yourself come back b4 u go cause wahala for us in diz con3 2 Likes |
Re: Dependence On Oil, Nigeria’s Costly Mistake — Buhari by Nobody: 6:16am On May 26, 2016 |
Kondomatic: Don't mind these hypocrites. Let them let ND go if they think oil is nothing to be dependent on. 4 Likes |
Re: Dependence On Oil, Nigeria’s Costly Mistake — Buhari by Nobody: 6:16am On May 26, 2016 |
ok |
Re: Dependence On Oil, Nigeria’s Costly Mistake — Buhari by Luckylife(m): 6:17am On May 26, 2016 |
Old story! Finally all Nigerian have been blame by APC. 1 Like |
Re: Dependence On Oil, Nigeria’s Costly Mistake — Buhari by 48noble(m): 6:21am On May 26, 2016 |
The only 'impact of costly mistake' u ve made since Nigerians made u President is this same oil... This 'we will' govt sef now blames Nigerians too. Scammers no dey last...ask Rev King. 1 Like |
Re: Dependence On Oil, Nigeria’s Costly Mistake — Buhari by sanandreas(m): 6:21am On May 26, 2016 |
Oil is what binds the entity Nigeria. The north is known for farming how much has it contributed to GDP. The government should bring out policies to tax farmers. I think the Government should get royalty tax from them just like oil. The equation would be balanced. 1 Like |
Re: Dependence On Oil, Nigeria’s Costly Mistake — Buhari by Pidggin(f): 6:26am On May 26, 2016 |
Then why is he wasting N40 billion in oil exploration in the North? That money should have been invested in Agriculture if he is truly being sincere |
Re: Dependence On Oil, Nigeria’s Costly Mistake — Buhari by Nobody: 6:34am On May 26, 2016 |
Kondomatic: That is the level of is cluelessness, since is inception in office what has he done to divesify the economy except making useless trip all around the world |
Re: Dependence On Oil, Nigeria’s Costly Mistake — Buhari by OKKO(m): 6:34am On May 26, 2016 |
I bet my last kobo that the time he leaves officer Nigeria will be over-dependent on oil. Talking as if he knows what to do ... |
Re: Dependence On Oil, Nigeria’s Costly Mistake — Buhari by Bari22: 6:40am On May 26, 2016 |
Kondomatic:my brother we must explore even if it is the one we consume, the problem is not exploration but over depence on it. 1 Like |
Re: Dependence On Oil, Nigeria’s Costly Mistake — Buhari by Bari22: 6:41am On May 26, 2016 |
Kondomatic:my brother we must explore even if it is the one we consume, the problem is not exploration but over depence on it. 1 Like |
Re: Dependence On Oil, Nigeria’s Costly Mistake — Buhari by NonFarmPayrol: 6:41am On May 26, 2016 |
hw wants to diversify from oil but has no clue |
Re: Dependence On Oil, Nigeria’s Costly Mistake — Buhari by Nobody: 6:43am On May 26, 2016 |
#MegrimorDonCome. Everything about Buhari is a mistake. Even his name! |
Re: Dependence On Oil, Nigeria’s Costly Mistake — Buhari by Trapping(m): 6:44am On May 26, 2016 |
[s] brownlolly:[/s] Trash, always looking for excuse! |
Re: Dependence On Oil, Nigeria’s Costly Mistake — Buhari by Oladimejyy(m): 6:44am On May 26, 2016 |
Uduak2019:Are d only one producing oil? 1 Like |
Re: Dependence On Oil, Nigeria’s Costly Mistake — Buhari by Nobody: 6:45am On May 26, 2016 |
Oladimejyy: 1 Like 1 Share |
Re: Dependence On Oil, Nigeria’s Costly Mistake — Buhari by YoursGEJ(m): 6:48am On May 26, 2016 |
megrimor: Hypertension kills |
Re: Dependence On Oil, Nigeria’s Costly Mistake — Buhari by emerged01(m): 6:48am On May 26, 2016 |
sanandreas: They should tax the farmers? You must be kidding! We need a lot to be done in agriculture. Don't you know tax will discourage people from going into farming? All we need right are policies that will encourage people to see opportunities in agriculture sector. 3 Likes |
Re: Dependence On Oil, Nigeria’s Costly Mistake — Buhari by Nobody: 6:51am On May 26, 2016 |
It is a costly mistake no doubt, but it can be rectified. You are in office to correct some of these mistakes, isn't that why your campaign was anchored on CHANGE? There are no tell-tale signs yet that the mistake is about to be corrected. A whooping amount was just budgeted to look for more oil while agriculture got a paltry amount. This, Sir, further yokes us to the inclement nature of the oil market rather than weans us from it. |
Re: Dependence On Oil, Nigeria’s Costly Mistake — Buhari by IllegalMoney: 6:55am On May 26, 2016 |
1 Like |
Re: Dependence On Oil, Nigeria’s Costly Mistake — Buhari by sanandreas(m): 6:58am On May 26, 2016 |
emerged01: The government need money |
Re: Dependence On Oil, Nigeria’s Costly Mistake — Buhari by Adewale333: 7:00am On May 26, 2016 |
All is well |
Re: Dependence On Oil, Nigeria’s Costly Mistake — Buhari by greatiyk4u(m): 7:06am On May 26, 2016 |
Uduak2019: What he means is that Nigeria should have over the years used the cash from Oil boom to diversify the economy, by now we for no care about oil money again, 1 Like |
Re: Dependence On Oil, Nigeria’s Costly Mistake — Buhari by emerged01(m): 7:06am On May 26, 2016 |
sanandreas:There is shortage of food. Citizens need food. 1 Like |
Re: Dependence On Oil, Nigeria’s Costly Mistake — Buhari by Nobody: 7:08am On May 26, 2016 |
oga bubu can u please shut your smelling mouth for once, you say one thing and do the other. you think everybody is a zombie you can easily deceive with cheap lies. the truth is if our oil dries up today, ur sick bone dries up with it. 1 Like |
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