iammo:




if you call yourself a worker and you have to wait for Oil price before earning salary then you aint economically feasible, and contribute zero to our GDP

*If you call yourself an engineer with the Ministry of Works and Housing yet all construction contracts goes to the Chinese Civil Construction Company then you don't deserve any kobo as salary

*If you work for Ministry of Water resources and yet you hope to collect salary without providing solutions to water crisis then collecting salary is a sin

*If you are a Medical Doctor, Nurse , Caregiver , Health worker under Nigerian Ministry of Health yet your Hospital has more death ratio than healing ratio then you aint supposed to earn anything

* If you work for NTA , Radio Nigeria and have DSTV and Startimes at home then lets face fact you don't deserve the salary you earn


.

nuti:
All under buhari govt, as was 1985 so is 2020. This man is a harbinger of nemesis to this country.

CoronaVirusRelo:
We are going to drink our crude oil las las.

Workers should be paid with crude oil in jerricans and allowed to go look for buyers individually.

nuti:
All under buhari govt, as was 1985 so is 2020. This man is a harbinger of nemesis to this country.

RisenPhoenix:


Nigeria was not structurally in as bad a shape in 1999 as it was in 2015.

Oil price history to refresh your obviously flagging memory:

https://www.investopedia.com/ask/answers/030315/why-did-oil-prices-drop-so-much-2014.asp

CoronaVirusRelo:
We are going to drink our crude oil las las.

Workers should be paid with crude oil in jerricans and allowed to go look for buyers individually.

CoronaVirusRelo:
We are going to drink our crude oil las las.

Workers should be paid with crude oil in jerricans and allowed to go look for buyers individually.

CoronaVirusRelo:
We are going to drink our crude oil las las.

Workers should be paid with crude oil in jerricans and allowed to go look for buyers individually.

helinues:
State workers should just take their minds out of salary for the next few months

CoronaVirusRelo:
We are going to drink our crude oil las las.

Workers should be paid with crude oil in jerricans and allowed to go look for buyers individually.

etinosa111:
This is d best time to fall back on excess crude account eca. That's d saving for d rainy days

Lostz:
I don't need to read that summary when I can know the annual oil price from 1999 till date.


I forgot to add that annual GDP in 1999 was as low as $57b.
obasanjo was miraculously able to save the dying economy. annual GDP was $263b when he left .
the two other PDP president were able to bring it up to an all high of $568b in 2014.

buhari has reduced it to $446b now. that means the economy have not improved under buhari.

all other presidents increased the GDP but buhari with all his audio diversification actually reduced the GDP. are we not supposed to be earning more now since buhari is diversifying?

ProsperChild:


https://tribuneonlineng.com/workers-salaries-in-jeopardy-as-oil-price-tumbles-again/

Eteka1:
I guess Buhari invented Corona virus to destroy the global economy. Your stupidity knows no bounds.

CoronaVirusRelo:
We are going to drink our crude oil las las.

Workers should be paid with crude oil in jerricans and allowed to go look for buyers individually.

RisenPhoenix:


You forgot to mention that GDP was already in negative growth by the time Jonathan was leaving. And that the main drivers of these fluctuations have always been crude oil prices and the oil production disruptions during the early years of president Buhari's rule.

All of which is irrelevant to the question that is begging to be begged; with such a supposedly great economy with (according to you) high GDP growth and wonderful policies and high oil revenues plus more than sufficient time (1999-2015), why was the diversification drive not implemented at that heavenly time? Why blame president Buhari for 5 years in a period of (according to you) low oil prices, low growth rates, and higher conflict issues; when the PDP was unable to do better in a time of (according to you) plenty?

RisenPhoenix:


You forgot to mention that GDP was already in negative growth by the time Jonathan was leaving. And that the main drivers of these fluctuations have always been crude oil prices and the oil production disruptions during the early years of president Buhari's rule.

All of which is irrelevant to the question that is begging to be begged; with such a supposedly great economy with (according to you) high GDP growth and wonderful policies and high oil revenues plus more than sufficient time (1999-2015), why was the diversification drive not implemented at that heavenly time? Why blame president Buhari for 5 years in a period of (according to you) low oil prices, low growth rates, and higher conflict issues; when the PDP was unable to do better in a time of (according to you) plenty?

CoronaVirusRelo:

Workers should be paid with crude oil in jerricans and allowed to go look for buyers individually.

Lonelyhrt1:
I'm here wondering what will happen if oil price doesn't go up in the next six months.
If we're not careful in this country we might end up like Zimbabwe.

FTC is dedicated to me and my wife for our first marriage anniversary, it's not been easy but we make it through.

Lostz:
if Jonathan was able to grow the economy to it highest point without diversifying, shouldn't buhari who has diversify the economy be earning More?


note; GDP is different from revenue. oil only contribute to 9% of our GDP.


Jonathan was able to get more from cement, oil refining ,
construction and construction materials , food processing and food products, beverages and tobacco , textiles , apparel and footwear , pharmaceutical products, wood products ,
pulp paper products ,
chemicals , ceramic products ,
plastic and rubber products ,
electrical and electronic products, base metals : iron and steel , information technology , automobile manufacturing , and other manufacturing even without diversifying

RisenPhoenix:


I was not blaming past governments, but come to think of it, if 5 years is supposedly enough for full diversification of the economy (no other country has done it in such a short period, but let me humour you); then how many times over could your party have done it during its rule? Why didn't they?

iokpebholo:
your party ke?who PDP or APC help?So APC should remain clueless because PDP failed to diversify abi?Stop living in d past bro

RisenPhoenix:


Don't tell me you are copy pasting Wikipedia as your source. Guy, you need to go to specialised economic sites for economic indices.

Oil revenues do form a part of the GDP, and oil at $150 per barrel and maximum output contributes more to the GDP than oil at $60 per barrel and disrupted output. Fact.

As for the other production outputs you mentioned, barring mining (which includes crude oil) and public administration, the Nigerian GDP has consistently gone higher year on year since 2015 when president Buhari took over; showing that it is indeed the oil issues and cuts in the civil service which have setved to lower the overall GDP. If you know how to read charts, you can confirm that here...

https://tradingeconomics.com/nigeria/gdp-growth-annual

Just adjust the charts to the appropriate dates (1999 to 2019) for the different sectors' GDP contribution growth.

And you still are evading the question as to why 16 years were not sufficient for diversification under the PDP but 5 years is more than enough for the APC. Hypocrisy anyone?

Lostz:

this was copied from your link. at least you can now see that oil is a fraction of our GDP.
Nigeria is the biggest economy in Africa. Services is the largest sector of the economy, accounting for about 50 percent of total GDP. One of the fastest growing segments in Services are Information and Communication, which together account for about 10 percent of the total output. Agriculture, which in the past was the biggest sector, now weights around 23 percent. Crude Petroleum and Natural Gas constitute only 11 percent of total GDP, while being the main exports. Industry and Construction account for the remaining 16 percent of GDP.

for me oil only contribute 9% to our GDP but your link said 11% which is still a fraction of our GDP.

Lostz:

if Gej was able to get more from other sectors, does that not tell you that they were already diversifying the economy without making noise like the audio diversification going on under buhari?

under Gej, fertilizers and farming equipment were cheaper because he paid subsidies, on the agricultural sectors, provide loans and grants.
but the so-called diversification president want citizens to farm with bare hands

HabuD:
Nigeria's problems could have been easily solved if the huge cost of governance would have been cut, and government was prudent enough and not as nepotistic as it is now, to bring in technocrats who could help in diversifying their earnings away from crude oil.