Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,195,216 members, 7,957,490 topics. Date: Tuesday, 24 September 2024 at 01:36 PM |
Nairaland Forum / Nairaland / General / Politics / Oil Price Sinks To Lowest Level In 16 Years (40995 Views)
Nigeria’s FX Reserves Drop To $32bn — Lowest Level In Six Years / Gulf Of Guinea Piracy Falls To Lowest Since Q2 2019, NIMASA Reacts / Mele Kyari: Nigerians Should Prepare For 3 Months Trouble Over Oil Price Crash (2) (3) (4)
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (Reply) (Go Down)
Re: Oil Price Sinks To Lowest Level In 16 Years by Slynation(m): 10:26am On Mar 19, 2020 |
Evercurious:That unrealistic fellow has been backing up his points with enough punchlines...The problem is not talking nonsense, but when someone's nonsense starts making sense, then personally i give such people some accolades... Nnamdi Kanu started with what i called nonsense, but today it's reality.... 3 Likes |
Re: Oil Price Sinks To Lowest Level In 16 Years by mvem(m): 10:26am On Mar 19, 2020 |
sociologymajor:pick up very very fast when the issue is over |
Re: Oil Price Sinks To Lowest Level In 16 Years by AmeLonRo(m): 10:27am On Mar 19, 2020 |
All this boils down to a lack of planning. Bench mark for budget was 57 dollar and oil sold for 72 to 60 dollar, where did the excess go to? Check 2019 and you'll see that the price of crude exceeded what was used for budget. This is how it has been year in year out. Now os the time to bring out the excess. FOOD first sha. Villagers will be happy now.... Go bush get fruits, vegetables, belly fool, yam, etc.... |
Re: Oil Price Sinks To Lowest Level In 16 Years by Nobody: 10:27am On Mar 19, 2020 |
voltron14: You make a.lot of good arguments, but the problem is the government you support isn't making the hard decisions needed to make Nigeria more productive. Like removing Subsides completely, metering everyone and so on 5 Likes |
Re: Oil Price Sinks To Lowest Level In 16 Years by persius555(m): 10:28am On Mar 19, 2020 |
voltron14: Seems you have something against Nigerians in general. Some of us have setup businesses with hard earned money and lack of basic infrastructure like power has turned these investments in zero. The recent clampdown on ride hailing services powered and managed by Nigerians is a good example. These ideas and costly initiative are currently been shortlived by a few elites who put themselves first before the populace. They call themselves government. Governance in this part of the world is a totally different definition to what we have elsewhere. Accepted, the government cannot take all blame but they lead and others follow. The top of handswe have in government at the moment are inept and have nothing to offer. Unfortunately these are the sets of people who are most desperate for leadership. Africa/Nigeria is an irony 4 Likes |
Re: Oil Price Sinks To Lowest Level In 16 Years by Nobody: 10:28am On Mar 19, 2020 |
tensazangetsu20:you are very correct brother. Dont let anyone tell you otherwise. Environment bears an ENORMOUS impact 2 Likes |
Re: Oil Price Sinks To Lowest Level In 16 Years by MondayOsunbor(m): 10:28am On Mar 19, 2020 |
ProsperChild: i am tried of suffering buhari nonsense economic policies |
Re: Oil Price Sinks To Lowest Level In 16 Years by Stakekay1(m): 10:30am On Mar 19, 2020 |
The chief recessionist is back again, he is always lucky to plunge the country into recession he has done it countlessly both as a military dictator and as a civilian president. |
Re: Oil Price Sinks To Lowest Level In 16 Years by Acidosis(m): 10:31am On Mar 19, 2020 |
Stephenomozzy: More than 35% of that budget goes to less than 10,000 people. The remainder (199,990,000) of the population is left with 65%. Satanic Budget! |
Re: Oil Price Sinks To Lowest Level In 16 Years by voltron14: 10:35am On Mar 19, 2020 |
kikero: Subsidies would go this year. The subsidies would go because a local alternative to imports, in the form of the Dangote refinery would come on stream. Of course, this may have to be reviewed based on how Covid-19 affects its take off. I don't know how to communicate this, but as someone who travels quite a lot, the one thing I ask myself in every society i find myself is "why are these people so successful?" And I can only point to productivity as the reason. We have cocoa but do not make chocolate. We have hides and skin but we aren't known for leather works. We must produce no matter the excuses. 2 Likes |
Re: Oil Price Sinks To Lowest Level In 16 Years by isnovic(m): 10:37am On Mar 19, 2020 |
…..where is the savings from the days of plenty Buhari? Crude oil has sold for an average of 20USD above the FG budget cost, where is the savings from this Buhari? We are back to the days of yore. 1 Like |
Re: Oil Price Sinks To Lowest Level In 16 Years by Nobody: 10:37am On Mar 19, 2020 |
voltron14: To be productive, you need security, you need a functional judicial system, you need to upskill your populace (vocational education is key here) to be productive. A functional government is required to lay the foundation for this, whether we like it or not. No society has ever gone from the brink of anarchy to greatness within a single generation. Nigeria is a society at the edge of a precipice. Hordes of university 'graduates' who never learned how to think and have zero skills, millions of small kids out of school. Exactly what Bill Gates told them in Abuja when he said human capacity development is just as important as infrastructure (which are mostly white elephants, by the way) It's easier to reel out economic theories and call people lazy (just like Buhari did) because you've been lucky to find a sweet spot of your own within the dysfunctional system. But an improperly aligned system will never produce stellar results. 5 Likes 3 Shares |
Re: Oil Price Sinks To Lowest Level In 16 Years by Nobody: 10:37am On Mar 19, 2020 |
voltron14: Truer words never spoken. 1 Like 1 Share |
Re: Oil Price Sinks To Lowest Level In 16 Years by Nobody: 10:38am On Mar 19, 2020 |
voltron14: Facts only. 1 Like |
Re: Oil Price Sinks To Lowest Level In 16 Years by AeroplaneApple: 10:39am On Mar 19, 2020 |
voltron14:funny living like Beyonce too 1 Like |
Re: Oil Price Sinks To Lowest Level In 16 Years by Iogobenz(m): 10:40am On Mar 19, 2020 |
voltron14:See how stupid you sound? Do you know what subsidy is? Who told you because dangote now will soon start producing locally that automatically translates to subsidy elimination? What if his final production cost(profits included) comes out at 185 naira/litre? Doesn't that tell you that the government will pay 40 naira a litre to him to make the product affordable to its populace? Or has dangote told you how much his fuel selling price will be already? I ask again,how much product or revenue have you generated? Ps;I also travel a lot,I guess that makes me productive 8 Likes 1 Share |
Re: Oil Price Sinks To Lowest Level In 16 Years by Nobody: 10:46am On Mar 19, 2020 |
isnovic: The days of plenty were in the previous administration when oil prices were between 91 and 130 dollars. Since Buhari took over, oil has been between 25 dollars and 80 dollars, and we need it to be at 140 dollars since 2017 Even under the previous administration, the oil price was not high enough for our economic needs. And GEJ did not save because of high spending on subsides and keeping the naira afloat. |
Re: Oil Price Sinks To Lowest Level In 16 Years by TheWonder: 10:47am On Mar 19, 2020 |
vicdom: I pray we survive this. With this virus, Nigeria may fall under greater recession that ever before. GEJ will be thanking God though. |
Re: Oil Price Sinks To Lowest Level In 16 Years by studentofTruth: 10:52am On Mar 19, 2020 |
voltron14: And what do you say about those produced in Aba? Aba made, bla bla bla. What's you or the government done to support them? 4 Likes 1 Share |
Re: Oil Price Sinks To Lowest Level In 16 Years by Bellotelli: 10:55am On Mar 19, 2020 |
voltron14:All these you are saying still bows down to the lack of enabling environment by the govt. When the right infrastructures are not in place, even the human capital would suffer. The Nigerian youth i believe are very hardworking and innovative. It's very pathetic that the few ruling elites have succeeded in corrupting there minds. |
Re: Oil Price Sinks To Lowest Level In 16 Years by jham01: 10:58am On Mar 19, 2020 |
Totally agreed that Nigeria isn't productive at all. The Leadership problem is in our mental intuition, I've been to many sectors of government, private and political arena of Nigeria. Leadership isn't abt age bt capacity. I worked with ppl of all ages and loss hope tht Nigeria will hardly rise to its expectations. Corruption is everywhere, in religious places, work and in our daily activities. The so called higher institutions of learning we attended are pure scam; only student of science and Technology will relate this. Compare the actual knowledge u're supposed to gain coupled wth practical experience and that of other developing nations like India, China, Indonesia, Malaysia and the rest u'll realise that thy jst scammed us and robbed our money in d name of school fees. The education system of Nigeria was neva meant to be productive (colonial conspiracy) and can neva be in ths way because it's nt done lyk ths everywhere in d world. If u think the old generation are corrupted and neva deserve to rule and shld allow young mind to rule, remember the worst leadership we're/we've receiving/received from School at the hand of SUG, the way students and youths associations conduct elections. Do u think wth these set of ppl who can't plan for tomorrow Nigeria will rise again? Ask an average young Nigerian to tell u the plan, I mean real strategic plan on how to restore and make Nigeria productive and great again u'll knw that the future is completely doom. The way ppl are insulting, disrespecting, and showing extreme hatred against one another in Nairaland prove how myopic many youths are. We've to accept to live in diversity, improve the constitutive authorities, reshape and remodel our education system to meet the large number of population and convert it to be productive. What are we manufacturing as a nation, if they start listing them u'll be ashamed. We're nt productive at all. We need to ponder well and think in different and better way. 5 Likes |
Re: Oil Price Sinks To Lowest Level In 16 Years by isnovic(m): 11:01am On Mar 19, 2020 |
kikero: @kikero The days of plenty is also in this administration, the crude oil price has out perform future for CO with over $20. Agreed, not as much as the previous administration, this administration has been blessed with favorable crude oil price for over 2 years running. So if thou has not been found wanting in little, do not expect to find accountability in the days of plenty!. 1 Like |
Re: Oil Price Sinks To Lowest Level In 16 Years by OttHin: 11:01am On Mar 19, 2020 |
Lets go back to farming |
Re: Oil Price Sinks To Lowest Level In 16 Years by Nairalandmonika: 11:09am On Mar 19, 2020 |
voltron14:Stop asking foolish questions, the way buhari sang out diversifying the economy you would think by now we wouldn't be oil dependants. It's be 5 yrs going tob 6, yet we still very much depend on oil. 3 Likes |
Re: Oil Price Sinks To Lowest Level In 16 Years by Nobody: 11:09am On Mar 19, 2020 |
isnovic: Actually,crude price has not favoured this government at all Our Breakeven oil price, the price at which oil needs to be for us to earn a sufficient budget was 120 dollars per barrel in 2012, 122 dollars in 2015 and now 139 dollars in 2017. Meanwhile oil under Buhari has been below 80 dollars since 2015, 75when he took over, 30 dollars in 2016, 80 dollars in 2018 and 27 dollars now. We have a very large population above 150million which is why even though we produce as much as the UAE, we are not as rich as they are./(UAE has 12 million people max) That's why Bubu takes loans by the way. The money we earn from oil is not enough and has never been for a while, even during GEJ time That's why our future is being an industrial nation, and a nation that does not live by oil alone, and does not run on subsidies. 1 Like |
Re: Oil Price Sinks To Lowest Level In 16 Years by xcabczyxabczzzz: 11:10am On Mar 19, 2020 |
voltron14:That's the harsh reality. 2 Likes |
Re: Oil Price Sinks To Lowest Level In 16 Years by Slynation(m): 11:10am On Mar 19, 2020 |
Bellotelli:Bro lemme tell u something... If we don not revamp our educational sector nothing will ever change, what we have been doing in this country is building and scattering at the same time... But how do we revamp when the North ain't ready, from my stay with them their elites still need the almajiri's shouting "Yanka de de and Nagode baba" when they drive past.... We are not United, tribalism, sabotage, Nepotism and bigotry is still holding us in captivity... The best solution still remains everyone should go their separate ways because this issue has no ending. An average Nigerian man gat the mindset to loot the national treasury if ever elected into any political office 1 Like |
Re: Oil Price Sinks To Lowest Level In 16 Years by Nairalandmonika: 11:15am On Mar 19, 2020 |
voltron14:You that's talking how much do u generate? Let's start from there |
Re: Oil Price Sinks To Lowest Level In 16 Years by Nobody: 11:18am On Mar 19, 2020 |
layzie: How do you expect him to blame the government, he is one of the various presidencial spokesperson charged with making the government look like saints 2 Likes |
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (Reply)
Saraki Meets Akpabio & Gbajabiamila 2 Weeks After Visiting Wike's Abuja Kitchen / Saraki Appoints Chief Of Staff And Media Adviser / Shettima's NBA Conference Attire: New Fashion Style Or Miss?
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 97 |