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Effects Of Oil Crash On Oil-dependent Economies - Politics (2) - Nairaland

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Re: Effects Of Oil Crash On Oil-dependent Economies by Firefire(m): 1:23pm On Aug 14, 2016
motherfucker:


Bro, please, there is something that can be done... a lot can be done but the likes of dropshot think NIGERIANS are stupid.

What has this government done to encourage Agriculture in large scale since they assume power? WHAT? There are minerals in the North that can still help us, but Buhari chose to explore oil that does not exist in this hard time with little funds left.

With kind of anger in me, because I detest it when people are insensitive to the pains of the less privileged, I could gun down anybody is spew rubbish without thinking twice. Instead of mapping out a roadmap that will pilot us favourably, brown tooth, opolo eyed Tinubu chose to play on the minds of Nigerians by changing party's slogan from Change to Progress. What does that speak of a party who over 180 Million Nigerians look up to for a better tomorrow?

I still insist, something can be done BUT they do not want to do it! Cut salaries of senators and reps, discard the PJs, cut cost at all means and sectors.

Dropshot said we should look inward, what is his investment in Nigeria right now? Please ask him what is his investment in Nigeria RIGHT FORKING NOW! angry He stays in another man's land and spew rubbish. If he so much believe in the CHANGE so much he could write his brains, please tell him to deport his azz down here and live among us while abandoning everything in whatever forking country he resides. Anything short of that, he is hypocrite and a bastard!

I don't take partiality kindly in serious issues where lives are at stake--I don't!

I repeat something can still be done. Someone proposed in another thread that carrot and steak approach should be applied by telling looter to invest their money in Nigeria which would further make everyone bring out their hidden funds to establish something that will benefit us.

They should leave oil and look for alternatives for heaven sake.... Switzerland does not have a single mineral but they enjoy one of the best robust economy in the world. We do not suffer famine, earthquake or any sort of natural disaster and we live like we got nothing.

The average Nigerian is wicked and selfish, case in point is dropshot or passingshot, they only think of themselves because they are not affected in any form, they are the loop holes the elites use to destroy what is left for the masses. Since many people just wouldn't use their brains to develop this country, would it bad idea we wiped off the surface of the earth so that the world would know we do not even exist?

I am so angry angry angry angry angry



Happy Sunday and don't be angry... tongue

People you should take serious on the cyberspace are those who reside in Nigeria, and who understands the suffering on ground. Not just anybody with free access to the net who can post irrelevant cabbage in support of the unclear and directionless policies of this administration.

The more our Naira becomes worthless the better for those earning in foreign currency even if na Ghanaian Cedis or West African CFA franc.

I overhead a guy at the hotel reception last night in Ikoyi rejoicing how he could now exchange $100 for close to NGN40,000 as against what he used to get in time past (20,000 Naira). I was so vexed seeing the joy & happiness in his face, to slap am hungry me but I restrained myself. angry

Imagine.

God will surely deliver Nigeria and Nigerians, there is HOPE.

4 Likes 1 Share

Re: Effects Of Oil Crash On Oil-dependent Economies by Firefire(m): 1:33pm On Aug 14, 2016
989900:


E be like say Remminbi don enter voicemail o.

Another hope dashed. undecided

2 Likes 1 Share

Re: Effects Of Oil Crash On Oil-dependent Economies by omenka(m): 1:41pm On Aug 14, 2016
Izonpikin:
dropshot isn't a living thing..if he is let him come back to nigeria and let's enjoy our own peculiar economic recession together..him dey abroad dey enjoy mild recession dey yap there..let him come back and enjoy buhari..such a hypocrite.. angry
Lol. Go pull am come back na. cheesy
Re: Effects Of Oil Crash On Oil-dependent Economies by 989900: 1:41pm On Aug 14, 2016
motherfucker:


Bro, please, there is something that can be done... a lot can be done but the likes of dropshot think NIGERIANS are stupid.

What has this government done to encourage Agriculture in large scale since they assume power? WHAT? There are minerals in the North that can still help us, but Buhari chose to explore oil that does not exist in this hard time with little funds left.

With kind of anger in me, because I detest it when people are insensitive to the pains of the less privileged, I could gun down anybody is spew rubbish without thinking twice. Instead of mapping out a roadmap that will pilot us favourably, brown tooth, opolo eyed Tinubu chose to play on the minds of Nigerians by changing party's slogan from Change to Progress. What does that speak of a party who over 180 Million Nigerians look up to for a better tomorrow?

I still insist, something can be done BUT they do not want to do it! Cut salaries of senators and reps, discard the PJs, cut cost at all means and sectors.

Dropshot said we should look inward, what is his investment in Nigeria right now? Please ask him what is his investment in Nigeria RIGHT FORKING NOW! angry He stays in another man's land and spew rubbish. If he so much believe in the CHANGE so much he could write his brains, please tell him to deport his azz down here and live among us while abandoning everything in whatever forking country he resides. Anything short of that, he is hypocrite and a bastard!

I don't take partiality kindly in serious issues where lives are at stake--I don't!

I repeat something can still be done. Someone proposed in another thread that carrot and steak approach should be applied by telling looter to invest their money in Nigeria which would further make everyone bring out their hidden funds to establish something that will benefit us.

They should leave oil and look for alternatives for heaven sake.... Switzerland does not have a single mineral but they enjoy one of the best robust economy in the world. We do not suffer famine, earthquake or any sort of natural disaster and we live like we got nothing.

The average Nigerian is wicked and selfish, case in point is dropshot or passingshot, they only think of themselves because they are not affected in any form, they are the loop holes the elites use to destroy what is left for the masses. Since many people just wouldn't use their brains to develop this country, would it bad idea we wiped off the surface of the earth so that the world would know we do not even exist?

I am so angry angry angry angry angry



"During the session, the Minister, who told the Senators that the President Muhammadu Buhari government inherited negative reserves and heavy salary and wage bill of N165 billion, disclosed that so far, the government has released capital vote of N247.9 billion, with plans to release an additional N60 billion very soon, just as she disclosed that the Federal Government has released N74 billion to works in the last two months, compared to N19 billion the ministry received for the whole of 2015. Agriculture has also got the sum of N21.9 billion, compared to the N4 billion the ministry got last year, adding that transport got N22 billion compared to the N6 billion it received last year."

The above was in July, works have received about N200b now. And more funds have been released to Agric.
The rice drive is on, we are pushing on with sugar, tomato, and flour. Anambra, Kebbi, Ebonyi, Osun, Ogun, Lagos, and some other states are rolling up their sleeves with fantastic programs and projects.

OandO, Dangote, NNPC, and the other 200k bpd refinery in the east should be good to go in few years.

The housing project and some other things . . . power diversification, Ajaokuta, the railways and ports and e.t.c.

Like I said earlier, long term prognosis is cool, but the 'now', we are screwed.
Re: Effects Of Oil Crash On Oil-dependent Economies by DropShot: 1:50pm On Aug 14, 2016
[s]
Firefire:


Happy Sunday and don't be angry... tongue

People you should take serious on the cyberspace are those who reside in Nigeria, and who understands the suffering on ground. Not just anybody with free access to the net who can post irrelevant cabbage in support of the unclear and directionless policies of this administration.

The more our Naira becomes worthless the better for those earning in foreign currency even if na Ghanaian Cedis or West African CFA franc.

I overhead a guy at the hotel reception last night in Ikoyi rejoicing how he could now exchange $100 for close to NGN40,000 as against what he used to get in time past (20,000 Naira). I was so vexed seeing the joy & happiness in his face, to slap am hungry me but I restrained myself. angry

Imagine.

God will surely deliver Nigeria and Nigerians, there is HOPE.
[/s]
Dollar/Naira rate is not determined by wishes of those residing outside Nigeria. It's largely determined by how much you earn through your exports and how much you need for your imports.

And having provided you effects of the IB's wastefulness and failure to do the right thing, one would expect you to apply common sense. But hatred, bigotry and imprudence will not let you.
cool cool cool
Re: Effects Of Oil Crash On Oil-dependent Economies by Firefire(m): 1:57pm On Aug 14, 2016
989900:


"During the session, the Minister, who told the Senators that the President Muhammadu Buhari government inherited negative reserves and heavy salary and wage bill of N165 billion, disclosed that so far, the government has released capital vote of N247.9 billion, with plans to release an additional N60 billion very soon, just as she disclosed that the Federal Government has released N74 billion to works in the last two months, compared to N19 billion the ministry received for the whole of 2015. Agriculture has also got the sum of N21.9 billion , compared to the N4 billion the ministry got last year, adding that transport got N22 billion compared to the N6 billion it received last year."

The above was in July, works have received about N200b now. And more funds have been released to Agric.
The rice drive is on, we are pushing on with sugar, tomato, and flour. Anambra, Kebbi, Ebonyi, Osun, Ogun, Lagos, and some other states are rolling up their sleeves with fantastic programs and projects.

OandO, Dangote, NNPC, and the other 200k bpd refinery in the east should be good to go in few years.

The housing project and some other things . . . power diversification, Ajaokuta, the railways and ports and e.t.c.

Like I said earlier, long term prognosis is cool, but the 'now', we are screwed.

" Agriculture has also got the sum of N21.9 billion ", who is Agriculture ? and how has he or she received this sum?

Hope you are not referring to the budgeted amount for the sector? Because I have not seeing any government intervention program on Agriculture since this administration came on board, even the administration of CBN Agric Credit Scheme is better passed as a policy paper document.

Agriculture fair better in the last administration under Mr. Adeshina than now, where is Chief Audu Ogbe? oooh, planning to import grass from Brazil and make farmers pay for their own protection on their farm.

2 Likes 2 Shares

Re: Effects Of Oil Crash On Oil-dependent Economies by DaudaAbu(m): 1:58pm On Aug 14, 2016
Very interesting indeed. When people dont bother to find out what's happening around the world they believe its only nigeria that is suffering.

Venezuela produce more oil than us, yet they cannot even feed their citizen.

Alot of people were calling the FG clueless for refusing to devalue the naira when it was held at 197, now it has been floated and is hitting 320 they are still blaming the gov't.

When we import any/everything how do you expect the country to grow? Those same importers and their cronies are the ones shouting blue murder.

many are sitting down waiting for policy blue print while many others are busy positioning themselves and taking up opportunity provided by the $$ scarcity.

When they begin their harvest that's when those waiting for paper policy will realize that opportunities have been lost

1 Like

Re: Effects Of Oil Crash On Oil-dependent Economies by 989900: 2:04pm On Aug 14, 2016
Firefire:


" Agriculture has also got the sum of N21.9 billion ", who is Agriculture ? and how has he or she received this sum?

Hope you are not referring to the budgeted amount for the sector? Because I have not seeing any government intervention program on Agriculture since this administration came on board, even the administration of CBN Agric Credit Scheme is better passed as a policy paper document.

Agriculture fair better in the last administration under Mr. Adeshina than now, where is Chief Audu Ogbe? oooh, planning to import grass from Brazil and make farmers pay for their own protection on their farm.

22 from the 300, these things take time naturally for visible effect, then factor-in the sluggishness associated with this admin, who knows, the funds may not have been released yet, or just released, but they will get it, unlike previous admins
. . contractors are getting paid already at least.
Re: Effects Of Oil Crash On Oil-dependent Economies by Izonpikin: 2:15pm On Aug 14, 2016
omenka:
Lol. Go pull am come back na. cheesy
grin grin...him dey enjoy abroad then abandon us here with buhari..
Re: Effects Of Oil Crash On Oil-dependent Economies by Izonpikin: 2:18pm On Aug 14, 2016
DropShot:

Bro, not all Nigerians will live in Nigeria at any given time. America, is one of the best countries in the world, yet millions of Americans live outside America.
dropshot come back to naija oo..until then no support buhari..if you want to fervently support our old man please relocate back..come and wallow in buharis policies..thank you..

1 Like

Re: Effects Of Oil Crash On Oil-dependent Economies by DaudaAbu(m): 2:21pm On Aug 14, 2016
989900:

22 from the 300, these things take time naturally for visible effect, then factor-in the sluggishness associated with this admin, who knows, the funds may not have been released yet, or just released, but they will get it, unlike previous admins
. . contractors are getting paid already at least.

Contractors are been paid And not been abandoned despite collecting most of the inflated contract sum.

If they really want to embezzle, they would have abandoned most of those projects and embark on new ones. At the end of the day its the country and its people that suffer

1 Like

Re: Effects Of Oil Crash On Oil-dependent Economies by DropShot: 2:22pm On Aug 14, 2016
Izonpikin:
dropshot come back to naija oo..until then no support buhari..if you want to fervently support our old man please relocate back..come and wallow in buharis policies..thank you..
I don't have to relocate just because of my support for PMB. I've been living outside naija for more than ten years already. If anything, I see huge opportunities to invest in Naija now and that's what I should rather be doing.
Re: Effects Of Oil Crash On Oil-dependent Economies by Babacele: 2:31pm On Aug 14, 2016
DickDastardly:

Why not characteristically reduce it to 6yrs of GEJ. Minions will remain minions cool
of course minions would choose to remain minions even when reality stares them in the eyes. The lifeblood of any economy is finance which ordinarily means money. So when you drain a body like Nigeria of her blood n share some in 'soakawys', foreign accounts, illegal properties etc as inflicted by previous administrations especially the one that made so much more from oil sales won't such economies experience shocks and dizziness?
1. Where are the diversification projects touted by the GEJ administration or has Buhari stopped any? please mention.
2. These economic shocks started under GEJ . True or false?
3. Okonjo Iweala started warning the nation to prepare for worse days ahead since 2014?
Charles Soludo ,Oby and other eminent Nigerians were forced to confront the profligacy of that administration.
4. Money meant for development were massively looted under GEJ. True or false? so what usually are the consequences of projects which funds are looted? development? stability? mention such places please.
5. oil prices all over the world have fallen ,and sensible economic managers would weigh the centrifugal and centripetal economic models and practices to see how they can organically adapt them to local environment for optimum advantage and development. So what steps you would have PMB take that he isn't taking or mistaking.
Nigeria is greater than either of us all ,let us give our sincere attention no matter how little please.
Re: Effects Of Oil Crash On Oil-dependent Economies by Izonpikin: 2:34pm On Aug 14, 2016
DropShot:

I don't have to relocate just because of my support for PMB. I've been living outside naija for more than ten years already. If anything, I see huge opportunities to invest in Naija now and that's what I should rather be doing.
oya come and invest quickly...many persons are dying under our buhari...come quickly...

My question: why are you so sure buhari is treating us just fine all the way from the states


Dropshot take time ooo.... undecided

1 Like

Re: Effects Of Oil Crash On Oil-dependent Economies by Firefire(m): 2:45pm On Aug 14, 2016
989900:

22 from the 300, these things take time naturally for visible effect, then factor-in the sluggishness associated with this admin, who knows, the funds may not have been released yet, or just released, but they will get it, unlike previous admins
. . contractors are getting paid already at least.


It is well... tongue
Re: Effects Of Oil Crash On Oil-dependent Economies by DropShot: 2:47pm On Aug 14, 2016
Izonpikin:
oya come and invest quickly...many persons are dying under our buhari...come quickly...

My question: why are you so sure buhari is treating us just fine all the way from the states


Dropshot take time ooo.... undecided
Why I'm sure he's treating us well:
1. Genuine effort at diversifying the economy.
2. Fighting corruption
3. Defeating Boko Haram

Of course the economy is bleeding but this is hardly his making. Other mono economies are experiencing similar tough times as us.

Patience is a virtue my friend.

What business would you suggest with N5m? cool
Re: Effects Of Oil Crash On Oil-dependent Economies by basilo101: 3:11pm On Aug 14, 2016
mr OP, so why does the current administration waste money looking for oil in NE, and why did their propaganda ministry get more fund than agric ministry??
Re: Effects Of Oil Crash On Oil-dependent Economies by jpphilips(m): 3:18pm On Aug 14, 2016
DickDastardly:
Yea ... we know.... excuses for the dulllard is normal ... but tell the skinny granny to sit up cool

Buhari is the president of all the countries mentioned abi?
I am sure you want your kids to take first position in class after transmitting a mentally defective gene to them right?

1 Like

Re: Effects Of Oil Crash On Oil-dependent Economies by jpphilips(m): 3:35pm On Aug 14, 2016
basilo101:
mr OP, so why does the current administration waste money looking for oil in NE, and why did their propaganda ministry get more fund than agric ministry??

Nigeria is not looking for oil in the NE we are only paying counterpart funding for exploration costs there.
Another economic challenge is looming that most people are not aware of, the very many force Majeure we keep declaring due to the bombings in the Niger delta is eroding our market share globally so we must look for oil elsewhere to keep that up else, the rest of our oil and oil investments made over the years will become useless.
We cant go deeper offshore due to exploration costs and low crude price so your best bet outside the Niger delta is the lake chad basin.
The whole investment is not geared towards making new money but maintaining our global market share.
India just dropped 13% of our oil originally dropped by the US, you dont expect the biggest refinery in the world to shut down because our country is raising !diots in the creek do you?

This information I gave you above is supposed to have come from ministry of information, low budget means they can not be effective in bringing up to speed people like you so if you understand that majority of Nigerians are ignorant, then you must appreciate how much work need to be done, hence an increased budget.

Agriculture is not the diversification we need , all the investment in Agriculture is geared towards self sufficiency not revenue earning.
If we can make tomato paste locally the cbn will stop funding its import saving huge fx in the long run.

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Re: Effects Of Oil Crash On Oil-dependent Economies by Izonpikin: 4:07pm On Aug 14, 2016
DropShot:

Why I'm sure he's treating us well:
1. Genuine effort at diversifying the economy.
2. Fighting corruption
3. Defeating Boko Haram

Of course the economy is bleeding but this is hardly his making. Other mono economies are experiencing similar tough times as us.

Patience is a virtue my friend.

What business would you suggest with N5m? cool
shocked...

Which corruption him fight..

Abeg make man hear word joor..you sef know say wetin u talk no make sense..

Which genuine effort to diversify our economy..na who dey lie give you all these info sef..until you reach this country you can never ascertain what you're saying..

Just enjoy the usa..when you're ready to face reality with buhari come to naija..we are waiting for you.. cool

1 Like

Re: Effects Of Oil Crash On Oil-dependent Economies by obaaderemi: 5:00pm On Aug 14, 2016
DropShot:

Why I'm sure he's treating us well:
1. Genuine effort at diversifying the economy.
2. Fighting corruption
3. Defeating Boko Haram

Of course the economy is bleeding but this is hardly his making. Other mono economies are experiencing similar tough times as us.

Patience is a virtue my friend.

What business would you suggest with N5m? cool
How is he diversifying the economy when there is no clear cut policy on any industry be it agric or manufacturing.businesses cant borrow from bank because the interest rate is btw 25&40%.the banks will rather lend to state govts who can afford the rates but will embezzle the loans.these are monetary issues he should face.as we speak there are trillions of naira resources trapped in our soil the govt can exploit instead they are looking 4 oil in the north.dont deceive urself,dis govt has nothing to give.Well,about ur 5m,make sure whatever u invest it on doesnt involve importatn because right now,access to dollar is restricted

1 Like

Re: Effects Of Oil Crash On Oil-dependent Economies by Izonpikin: 5:06pm On Aug 14, 2016
DropShot:



What business would you suggest with N5m? cool
hmmmm....let me reel out some business plans...I am coming...

But a quick one...you can erect a rickety illegal refinery in the Niger delta and quadruple that money within weeks.... cheesy grin.....na joke I dey...
Re: Effects Of Oil Crash On Oil-dependent Economies by motherfucker: 5:33pm On Aug 14, 2016
Firefire:


Happy Sunday and don't be angry... tongue

People you should take serious on the cyberspace are those who reside in Nigeria, and who understands the suffering on ground. Not just anybody with free access to the net who can post irrelevant cabbage in support of the unclear and directionless policies of this administration.

The more our Naira becomes worthless the better for those earning in foreign currency even if na Ghanaian Cedis or West African CFA franc.

I overhead a guy at the hotel reception last night in Ikoyi rejoicing how he could now exchange $100 for close to NGN40,000 as against what he used to get in time past (20,000 Naira). I was so vexed seeing the joy & happiness in his face, to slap am hungry me but I restrained myself. angry

Imagine.

God will surely deliver Nigeria and Nigerians, there is HOPE.

Bro, I am expecting $2500 and I also do earn $$ from time to time but as you can see from my post, I do not feel I should act unconcerned just because I am not affected, only a wicked, selfish and self-centered human being act that way.

God dey.
Re: Effects Of Oil Crash On Oil-dependent Economies by MrPresident1: 7:59pm On Aug 14, 2016
Obasanjo sold oil for as low as 15 Dollars/barrel at a time, at another time in 2003 oil was 26 Dollars/barrel, yet our economy did not enter recession.

The OP's premise is stupendously flawed.
Re: Effects Of Oil Crash On Oil-dependent Economies by DaudaAbu(m): 9:02pm On Aug 15, 2016
Agriculture is not the diversification we need , all the investment in Agriculture is geared towards self sufficiency not revenue earning.
If we can make tomato paste locally the cbn will stop funding its import saving huge fx in the long run.

Just as someone wrote and i quote above, we are not expecting agriculture to bring in earning in hard currency but to stop those who need forex of about $11billion in other to bring in rice, wheat, tomatoes puree and what have you




https://www.nairaland.com/3289800/audu-ogbeh-launches-agriculture-roadmap

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