[b]Nigeria main source of income revenue is oil.
Oil price is reduced to 1/3 from $140!....which is $40!
Avenger reduced oil production from 2million barrels to half....which is 1million barrels!
It take Nigeria $30 to take a barrel of oil out from soil....$40-$30=$10!
Nigeria government need to protect the oil installation and pipeline for $5!
The total money expected by the government on a barrel of oil is $5!
So $5*1,000,000=$5,000,000 daily approximately!
who is to blame here?

Second, Nigerian government need those lost $ from oil, the government turn to the looted fund stranded round the world! not less than $1trillion assets in Africa, Asia, Gulf states, America and Europe!
having our looted assets also is a big problems because where is democracy! where the freedom and rights of criminals were well protected than the rights and freedoms of the victims!
The judiciary is not helpful on the way to speed of judgments, the nation can't have access to the looted assets
The fund confiscated were just paper $ parch for court evidence, some of these cases were there pending at courts premises!
who is to blame here?
The foreign looted assets is another deadlock, the foreign nation sit on large amounts of the looted funds sign agreement upon agreement, empty promise upon empty promises but all is a slogan on the papers, no country is yet return a dime to Nigeria nation, they even put condition on us but all is mere slogan!
who is to blame?
The legislatives,both house that need to pass bill and invite foreign envoys on why they refused to return the looted assets were there in the chambers busy padding budget!
who is to blame!
The US, GB, SWISS,FMI, IMF, HUMAN RIGHT WATCH, AMNESTY INTERNATIONAL; didn't see anything wrong in $1trillion looted fund sitting on by the Nigeria looted fund reserved nations, they were busy predicting the unrepresented famine in Nigeria, the right of boko fighter and criminals right violation!
who is to blame![/b]
who is to fight for the nation's freedom and right,why Labour Union, Student Union, human rights advocate keep mute and taken no action against the nations that sitting on Nigeria looted funds!
who is to blame for recession in Nigeria?

1. The nations that sit on Nigeria stolen funds know that any returned money will be looted and brought back again. Do care to know what happened to previously returned money?
Did you read Obasanjo outburst few days ago, when he said that he had no idea what happened to returned loots, that the money was sent directly to CBN and till today we don't know what happened.


2. You are wrong about the $30 production cost. Nigeria has good fields with natural drive which makes the cost of production at about $18 (one of the lowest) and with high quality light crude, profit isn't not an issue.

The issue about fall in oil price is just a fallacy, oil was overpriced at $100 and that was not healthy for global economy. The standard price of oil is between $45 and $55 at all times anything above that should be considered excess crude.

It is time Nigeria cut her coat according to her size, if we cannot sustain National assembly at $40, it should be scrapped or tailored down. If we cannot sustain 774 LGAs, they should be scrapped or reduced. If we can afford a presidential fleet of 18 aircraft, it should be reduced.

Same with pensions for public servants, political appointees etc. Let's wake up to reality and stop looking for money an start managing what we have now.