braine:
It made front page a few days back. You obviously didn't come across it.

Besides, nobody says anything when the going is good, until everything goes bad.

naijaking1:
So that the corrupt Buhari government will stop having excuses for not performing compared to GEJ who sold petroleum at $54.

meobizy:
I was scrolling through TV channels this afternoon when on BBC I saw it announced that Brent Crude is still priced at $75 per barrel. The last I heard of it the global price was around $40 per barrel and we were still in recession over the issue.
Doing a search of their official website revealed to me this 'news' is old as 24 April 2018 [last month].

Why haven't our leaders made the good news known? How will it benefit the masses apart from reduced suffering for the populace? We were made to understand it was falling oil prices which resulted in grinding hardship, why are we not briefed on how things will go for the better with rising oil prices?


Proof: www.bbc.com/news/topics/cmjpj223708t/oil
Scroll down and you'll see the graph showing the climb in price.

OreMI22:


Buhari is seriously making so much money from oil sales now and just keeping everything quiet. If he were earning $37/ barrel, he would be blaming Phee Dee Phee. Now that he is packing money and flying around the world for check ups, he will just keep quiet so that Nigerians won'r ask questions where all the money currently made have been channeled.

stonemasonn:
Part of the added revenue will be used to service the resulting increase in cost of subsidizing the products.

naijaking1:
So that the corrupt Buhari government will stop having excuses for not performing compared to GEJ who sold petroleum at $54.

meobizy:
Sooner or later one will question what else the profit can go into economy or infrastructure-wise.

Throwback:



This history is too recent to lie so brazenly.

GEJ sold petrol for 4yrs when the price was $100+pb.
It was in his 5th year from mid 2014 till May 2015 that it began to drop towards $50pb, at which point the federal government of Jonathan was already borrowing to pay federal civil servants salaries, having already ran down the federal savings he inherited and reduced foreign reserves from $47b to $29b/$30b within the same period of such high earnings.

At the time Buhari assumed power and crude oil price continued its downward fall till it reached $27pb, wailers like you were asking for Nigeria to be turned to Dubai and Florida, outrageous expectations you never had while crude was selling for $100+pb without any savings made of it, and 2nd hand trains as the only tangible economic investment to boast of by the Jonathan sycophants.

It was at that same time that your type were rejoicing that the Niger Delta Avengers were sabotaging the economy by vandalizing pipelines to your delight that the economy will be crippled, just because a useless president was sacked by the same electorate that gave him a nationally spread victory 4 years earlier.

Now that crude has entered the $70+pb range, you are also asking why Nigeria is not yet a Paradise, because a Paradise on Earth only requires 3days to build?

Now with your high expectations and standards, you will understand why many of us concluded that the Jonathan regime was a colossal failure that could not show anything tangible for the 4yrs of stupendous oil wealth, except brandishing almajiri schools, new universities and 2nd hand train, at a time we claimed to be the biggest economy in Africa, yet we could only afford 2nd hand trains because we are not America (as opined by Jonathan presidential spokesman Doyin Okupe).

You will now understand why it is a disgrace that less than 8 months into the fall of oil prices from the top price of $100+pb, the finance minister and coordinating minister of the economy, had become so helpless and hopeless that the government had started to borrow funds totalling N470b to pay federal salaries for Feb/March/April 2015. This is the same finance minister who was shouting from the wilderness that no savings was being made by the government she was the economic coordinator and we should soon expect an economic nosedive. If she could not take responsibility to ensure savings was made, whose failure was it and who then is responsible that the economy did eventually nosedive when oil income dropped drastically?



The government of Jonathan while earning so much from crude oil, refused to pay its own counterpart funding for JV oil projects with its IOC partners, such that when the oil crisis had began, such funding being owed by the government had totalled apprx $5b for 2010 to 2015.

But you want an overnight developmental paradise now that oil is only beginning to rise above $70pb?

Yet you are ready to make excuses for the failures of the previous government that was in office for 5years with 4years of immense oil income?

Throwback:



This history is too recent to lie so brazenly.

GEJ sold petrol for 4yrs when the price was $100+pb.
It was in his 5th year from mid 2014 till May 2015 that it began to drop towards $50pb, at which point the federal government of Jonathan was already borrowing to pay federal civil servants salaries, having already ran down the federal savings he inherited and reduced foreign reserves from $47b to $29b/$30b within the same period of such high earnings.

At the time Buhari assumed power and crude oil price continued its downward fall till it reached $27pb, wailers like you were asking for Nigeria to be turned to Dubai and Florida, outrageous expectations you never had while crude was selling for $100+pb without any savings made of it, and 2nd hand trains as the only tangible economic investment to boast of by the Jonathan sycophants.

It was at that same time that your type were rejoicing that the Niger Delta Avengers were sabotaging the economy by vandalizing pipelines to your delight that the economy will be crippled, just because a useless president was sacked by the same electorate that gave him a nationally spread victory 4 years earlier.

Now that crude has entered the $70+pb range, you are also asking why Nigeria is not yet a Paradise, because a Paradise on Earth only requires 3days to build?

Now with your high expectations and standards, you will understand why many of us concluded that the Jonathan regime was a colossal failure that could not show anything tangible for the 4yrs of stupendous oil wealth, except brandishing almajiri schools, new universities and 2nd hand train, at a time we claimed to be the biggest economy in Africa, yet we could only afford 2nd hand trains because we are not America (as opined by Jonathan presidential spokesman Doyin Okupe).

You will now understand why it is a disgrace that less than 8 months into the fall of oil prices from the top price of $100+pb, the finance minister and coordinating minister of the economy, had become so helpless and hopeless that the government had started to borrow funds totalling N470b to pay federal salaries for Feb/March/April 2015. This is the same finance minister who was shouting from the wilderness that no savings was being made by the government she was the economic coordinator and we should soon expect an economic nosedive. If she could not take responsibility to ensure savings was made, whose failure was it and who then is responsible that the economy did eventually nosedive when oil income dropped drastically?



The government of Jonathan while earning so much from crude oil, refused to pay its own counterpart funding for JV oil projects with its IOC partners, such that when the oil crisis had began, such funding being owed by the government had totalled apprx $5b for 2010 to 2015.

But you want an overnight developmental paradise now that oil is only beginning to rise above $70pb?

Yet you are ready to make excuses for the failures of the previous government that was in office for 5years with 4years of immense oil income?

ivandragon:


you conveniently 'forgot' to add that as at 2012, Nigeria's biggest crude oil client, US, slashed its imports by almost 60%.

by 2014, Nigeria could not sell a little over 50% of its crude. it was early 2015 before new markets could be gotten & later in same 2015, US imports picked up.


that means Nigeria could not sell about 50% of its crude oil between 2012 & 2014, but you chaps like to leave that part out of your 'facts'.


this is not to exonerate or defend the previous administration, but you guys need to stop this 'wholesale' blame mentality. because crude oil hovered around the $90 mark between 2010-2013 does not mean Nigeria sold every drop of oil it extracted at that price.

tribalmall:


Can you people not just stop being pathetic ? Is the USA now back to buying Nigeria’s crude ?
Is Nigeria selling every liter of crude it as to offer now ?

Why do some of you chose to deliberately argue foolishly like your brain is not functional simply because you want to shield one failure n castigate another ?

Do you think your ranting to high heaven will change peoples opinion. When the die is cast anyone with a brain can tell beside the Fulani herdsmen killing Buhari has done creditable beta than any PDP president.

If PDP can rule for 16 years and Nigeria total budget during those year never went up to 4 trillion while crude oil sold for above $100 n Buhari a dullard within 3 years with crude selling for $27 can propose a budget of 8 trillion naira. What makes you think Buhari will not propose a budget of 10 trillion next year now that crude is selling for $75 ?

God is my witness it will never be well with anyone that say Nigeria should vote back PDP for whatever reason. This mean aside the brazen corruption by PDP it deliberately under accounted our income so it can loot Nigeria resources off the book.

It can never be well with PDP for looting half of our common wealth without even bothering to account for it.

tribalmall:


Can you people not just stop being pathetic ? Is the USA now back to buying Nigeria’s crude ?
Is Nigeria selling every liter of crude it as to offer now ?

Why do some of you chose to deliberately argue foolishly like your brain is not functional simply because you want to shield one failure n castigate another ?

Do you think your ranting to high heaven will change peoples opinion. When the die is cast anyone with a brain can tell beside the Fulani herdsmen killing Buhari has done creditable beta than any PDP president.

If PDP can rule for 16 years and Nigeria total budget during those year never went up to 4 trillion while crude oil sold for above $100 n Buhari a dullard within 3 years with crude selling for $27 can propose a budget of 8 trillion naira. What makes you think Buhari will not propose a budget of 10 trillion next year now that crude is selling for $75 ?

God is my witness it will never be well with anyone that say Nigeria should vote back PDP for whatever reason. This mean aside the brazen corruption by PDP it deliberately under accounted our income so it can loot Nigeria resources off the book.

It can never be well with PDP for looting half of our common wealth without even bothering to account for it.

Throwback:



This history is too recent to lie so brazenly.

GEJ sold petrol for 4yrs when the price was $100+pb.
It was in his 5th year from mid 2014 till May 2015 that it began to drop towards $50pb, at which point the federal government of Jonathan was already borrowing to pay federal civil servants salaries, having already ran down the federal savings he inherited and reduced foreign reserves from $47b to $29b/$30b within the same period of such high earnings.

At the time Buhari assumed power and crude oil price continued its downward fall till it reached $27pb, wailers like you were asking for Nigeria to be turned to Dubai and Florida, outrageous expectations you never had while crude was selling for $100+pb without any savings made of it, and 2nd hand trains as the only tangible economic investment to boast of by the Jonathan sycophants.

It was at that same time that your type were rejoicing that the Niger Delta Avengers were sabotaging the economy by vandalizing pipelines to your delight that the economy will be crippled, just because a useless president was sacked by the same electorate that gave him a nationally spread victory 4 years earlier.

Now that crude has entered the $70+pb range, you are also asking why Nigeria is not yet a Paradise, because a Paradise on Earth only requires 3days to build?

Now with your high expectations and standards, you will understand why many of us concluded that the Jonathan regime was a colossal failure that could not show anything tangible for the 4yrs of stupendous oil wealth, except brandishing almajiri schools, new universities and 2nd hand train, at a time we claimed to be the biggest economy in Africa, yet we could only afford 2nd hand trains because we are not America (as opined by Jonathan presidential spokesman Doyin Okupe).

You will now understand why it is a disgrace that less than 8 months into the fall of oil prices from the top price of $100+pb, the finance minister and coordinating minister of the economy, had become so helpless and hopeless that the government had started to borrow funds totalling N470b to pay federal salaries for Feb/March/April 2015. This is the same finance minister who was shouting from the wilderness that no savings was being made by the government she was the economic coordinator and we should soon expect an economic nosedive. If she could not take responsibility to ensure savings was made, whose failure was it and who then is responsible that the economy did eventually nosedive when oil income dropped drastically?



The government of Jonathan while earning so much from crude oil, refused to pay its own counterpart funding for JV oil projects with its IOC partners, such that when the oil crisis had began, such funding being owed by the government had totalled apprx $5b for 2010 to 2015.

But you want an overnight developmental paradise now that oil is only beginning to rise above $70pb?

Yet you are ready to make excuses for the failures of the previous government that was in office for 5years with 4years of immense oil income?