Obrigardo:


For once I sounded like a trumper
Because a trumper will make you believe trump is the best thing to happen to Shale
Shale oil is a bust I see that now. All thanks to dear leader trump

What does Trump have to do with Shale oil. The issue with Shale is that oil prices have to be above a certain price to be viable. What has Trump got to do with that? Park well abeg!

jossytech:
Is already 1$

This is true for the US crude now. Nobody wants to buy the Futures Contract in May.

salford1:

That is cheaper than a bottle of water.
Thank God I left the sinking oil industry.
Since 2015, the producers have been barely making profit.
Oil companies are mean. Even at $50 per barrel, they were cutting jobs and expenses like no man's business.

There are people, fortunately or unfortunately, still in the country. That's not a nice thing to say, my brother.

Our leaders have finally done us in. Save and diversify the economy for where? They would rather buy Toyota jeeps for themselves and steal to buy expensive houses in choice locations overseas, houses they cannot now visit cos of covid19.
Their years of foolishness has finally caught up with us. Now the coming depression will probably reset their empty heads.

haywire07:
It's hightime Nigeria stopped international sales of oil in full capacity.
Let us channel ample amount of the oil to a reservoir and save up for a better day.
Cut deals with some African countries and use their reservoirs if ours is filled

When we save enough, the Government should declare our refineries ''out of service".
Luckily, Dangote refinery is near completion.

After this Covid -19 pandemic, we begin to sell from our reservoirs for the main time, while the refineries will be under renovation.

And also very importantly is the need to diversify.

..wisdom is not far from you brother

SocialJustice:
Have you been to Estonia, do you know Dubai makes more money from transit passengers than Nigeria does from oil? India sells more software than we do from oil. California state has an economy bigger than that of Africa and produces more oil than Nigeria. That one state has silicon Valley the tech capital of the world in San Francisco, it also has movie capital of the world in Hollywood.

Nigeria that is a bastard useless country cursed with an evil population and wicked leaders. We will all receive sense by force from what is coming
Should this lockdown extend to May ending, salaries of virtually everyone will stop. Companies will lay off staff. Things will get really bad but while other nations recover fast, Nigeria will be waiting for price of oil to go up.

Well said

grandstar:
Your proposal is dead on arrival. What reservoirs do you think can hold even a million barrels a day production.

Sell to which African countries? They are minnows when it comes to oil demand. Britain uses about 2million barrels of oil a day alone which is almost 5 times out daily That might be Africa's entire demand.

The reservoirs of other African countries will be minute and very quickly will run out of capacity

What the country needs is diversification. That's where you got it right.

Per your last statement, it's unfortunate that we didn't use the opportunity of relatively higher oil prices to diversify the economy. We should've fixed power and other critical infrastructure to Kickstart manufacturing. Alas, the chicken has come home to roost. It's now going to be nearly impossible to make any diversification efforts. Soon, the government will have to deal with massive social unrest.

Dtribeless:


There are people, fortunately or unfortunately, still in the country. That's not a nice thing to say, my brother.

My apologies.

salford1:

My apologies.

Oh WOW, super-gracious. That's scarce on this site. Well received, my brother.

zz

Bevista:
Per your last statement, it's unfortunate that we didn't use the opportunity of relatively higher oil prices to diversify the economy. We should've fixed power and other critical infrastructure to Kickstart manufacturing. Alas, the chicken has come home to roost. It's now going to be nearly impossible to make any diversification efforts. Soon, the government will have to deal with massive social unrest.

Economic activity will pickup very fast once the lockdown ends.

It's like a post war recovery. People can't do business because of the war. But once the war is over, everybody is back at their various businesses and the econony begins to tick.

The fastest economic growths are probably post War recoveries. It is not that business dried up like during a recession. Government instead ordered economic activity to halt until the virus is contained.

zz

haywire07:

Diversification is not a question of today. It has been there for up to 30 years ago when Oil took over.

Right now, I mean during this corona crisis, we cannot diversify. We should only be looking forward to sustaining ourselves first.
Exportation has been halted since the borders are closed.

But what about after the pandemic period?

1.We have former Niger Delta militants who were sent to learn production in China.
There are so many university scholars who were granted scholarships to study abroad.
E.t.c
Bring them home. Set up a conducive teaching and production environment.

2.Invest more in agriculture. Continue the ban of rice , chicken and other foods.

3. Encourage SME

4. We don't have to keep exporting our minerals to China. China would mine our metal family here, export to China, build cars and other technologies and sell back to us 200%

E.T. C..

All these might not make up the gains from oil, but it is necessary incase situations like this arise.

In design engineering, whenever you take your new design to review, the review board will task you on using the existing and legacy infrastructures instead of wasting funds on a new design.

Across Nigeria, there are hundreds of infrastructures and plants that have been neglected at the expense of cheap oil exports.

From the Alcon Aluminium plant that is now valued at $10 billion to the redundant refineries plants that were only built in the 1970s/80s, very young by the international standard to the Ajaokuta steel plant that can produce 10 million tons of steel for rails, constructions and manufacturing.

Nigerian has no business in OPEC or exporting crude oil with its arable land and redundant infrastructures, Nigeria can easily transform its economy into a manufacturing hub in less than 5 years by leveraging its existing infrastructures and exploit skilled Nigerian in the diasporas.

Finally, forget about scholar or people that have multiple academic qualifications, they have nothing to offer but hot air and corruption. Nigeria needs Nigerians in the diaspora that have a minimum of 20 years working at the highest level in Europe and America that's the only qualification that interest me.

Iceman2017:
E go soon red for this country


Our only source of income don crash. Who go borrow us money?
Every country now have bigger problem to solve and how would a third world country like Nigeria survive?

Buhari has always been cursed..nothing good ever happened in his time and even time to come. From fall on oil price to recession to pandemic to final fall on oil price then back to worse recession..
My fear is that they might still use this pandemic as an excuse for their inability to achieve.

grandstar:


Economic activity will pickup very fast once the lockdown ends.

It's like a post war recovery. People can't do business because of the war. But once the war is over, everybody is back at their various businesses and the econony begins to tick.

The fastest economic growths are probably post War recoveries. It is not that business dried up like during a recession. Government instead ordered economic activity to halt until the virus is contained.

This is going to be different.

haywire07:


America is the highest producer of Oil but why do they keep importing from Iran and Nigeria?

America is storing their oil for the future of their generation yet unborn. They plan for the future. Our wicked leaders are after their stomach, hence they keep looting.

This is the time for the senators and reps jumbo salaries to be stopped. It should be reviewed and made public.

The looting must be stopped. Our leaders ONLY go into politics just to steal and not to represent anybody. They can kill to get ellected into office.The so called donations, they are looting now. Have not seen any known person that has benefited from the audio palliative.

Mehn this is not a good news for dangote. After all the money he has poured on that refinery. Chai!

Corporate2020:
Haaaa!!!

All these our oyel people will soon start hawking crude oil in Lagos holdups

Lmao!

Xandelle:

In other words, the whole country.

It clearly shows here

sulaak:


Nigeria can easily transform its economy into a manufacturing hub in less than 5 years by leveraging its existing infrastructures and exploit skilled Nigerian in the diasporas.

Finally, forget about scholar or people that have multiple academic qualifications, they have nothing to offer but hot air and corruption. Nigeria needs Nigerians in the diaspora that have a minimum of 20 years working at the highest level in Europe and America that's the only qualification that interest me.

This is true. On a different thread, someone with a recent bachelor's GIS qualification was not aware that GIS has moved on from just regular surveying to Python programming and databases. I was shocked at first but then realise he genuinely was not aware. I still don't know how to reply to a question he raised on how to bypass his deficiencies in programming.
Maybe those with the profile you suggested can also help with training. I remember power improved a bit when Barth Nnaji was a minister.
Madam Ngozi too was not used to her full capacity.

Less than $1 now.
God help us.

andyanders:


America is storing their oil for the future of their generation yet unborn. They plan for the future. Our wicked leaders are after their stomach, hence they keep looting.

This is the time for the senators and reps jumbo salaries to be stopped. It should be reviewed and made public.

The looting must stopped. Our leaders ONLY go into politics just to steal and to represent anybody. They can kill to get ellected into office.The so called donations, they are looting now. Have not seen any known person that has benefited from the audio palliative.

The first paragraph though. They are not storing like you think. It's just demand and supply at play. A pipeline is being built to transfer oil from Alberta in Canada to Texas in the USA. Once that is done, they might reduce or completely stop reliance on crude from the middle East/Africa.
This is what they will do till technology transitionsfully into renewables.
I don't know about other countries, but renewable is gaining a fast momentum in developed countries. This is one out of three electric vehicle charging station in my village of 16,000 people in North America. I myself have been romancing the idea of going EV. Lots of car manufacturers are going EV e.g. the new hummer is going to be EV, Mustang MACH E, Mercedes EQ, Audi e-tron, ford f150 E etc
With the way technology is moving fast, hopefully some countries won't be left behind.

I totally agree with your remaining paragraphs.

Corporate2020:
Haaaa!!!

All these our oyel people will soon start hawking crude oil in Lagos holdups

Hahahaha....awon inconsequential 5% and laggard peons

salford1:
This is true. On a different thread, someone with a recent bachelor's GIS qualification was not aware that GIS has moved on from just regular surveying to Python programming and databases. I was shocked at first but then realise he genuinely was not aware. I still don't know how to reply to a question he raised on how to bypass his deficiencies in programming.
Maybe those with the profile you suggested can also help with training. I remember power improved a bit when Barth Nnaji was a minister.
Madam Ngozi too was not used to her full capacity.

Maybe those with the profile you suggested can also help with training. I remember power improved a bit when Barth Nnaji was a minister.
Madam Ngozi too was not used to her full capacity.



It is not by profile... Even If Trump or Angela Merkel becomes Nigeria President, very little will change.... Our sinators and house of rep kò?.. They can always armtwist the presidency... We need to change a lot of things..... Salaries of public office holders should not be more than 200k per month... They must use nigeria made cars.. They must not travel outside the country for medical issues

babyfaceafrica:

Maybe those with the profile you suggested can also help with training. I remember power improved a bit when Barth Nnaji was a minister.
Madam Ngozi too was not used to her full capacity.



It is not by profile... Eve. If Trump or Angela Merkel becomes Nigeria President, very little will change.... Our sinators and house of rep kò?.. They can always armtwist the presidency... We need to change a lot of things..... Salaries of public office holders should not be more than 200k per month... They must use nigeria made cars.. They must not travel outside the country for medical issues

True. I agree.

haywire07:
It's hightime Nigeria stopped international sales of oil in full capacity.
Let us channel ample amount of the oil to a reservoir and save up for a better day.
Cut deals with some African countries and use their reservoirs if ours is filled

When we save enough, the Government should declare our refineries ''out of service".
Luckily, Dangote refinery is near completion.

After this Covid -19 pandemic, we begin to sell from our reservoirs for the main time, while the refineries will be under renovation.

And also very importantly is the need to diversify.

Makes lot of sense.

salford1:

The first paragraph though. They are not storing like you think. It's just demand and supply at play. A pipeline is being built to transfer oil from Alberta in Canada to Texas in the USA. Once that is done, they might reduce or completely stop reliance on crude from the middle East/Africa.
This is what they will do till technology transitionsfully into renewables.
I don't know about other coun of 16,000 people in North America. I myself have been romancing the idea of going EV. Lots of car manufacturers are going EV e.g. the new hummer is going to be EV, Mustang MACH E, Mercedes EQ, Audi e-tron, ford f150 E etc

I totally agree with your remaining paragraphs.

Good on what you expatiated heren. Yes it is the demand and supply at play. But they doing that for the future of their children. The pipe America is laying from canada to texas is for the interest of their own country.
our own leaders cannot think for the future, but for selfish reasons- stealing

[quote author=fulaniHERDSman post=88655310]
Sweet & Bitter News.

Nigeria on the Cross ... It is almost finished!!

Zombies be like "if only Jonathan saved...."
When E remain months make their dulllard clock same time Jonathan spent in that good for

I can see you have no good account of history, Jonathan was an advocate of "saving for rainy days", but the likes of Amaechi, Kwankwaso, oshiomole, Saraki and co. took him to court, for him to increase revenue accrued to the states of the federation. U seem to have also forgotten, Harvard trained and world renowned Economist, Mrs. Okonjo Iweala was his minister of finance and as such came up with progressive ideas and visions which were mostly rebuffed by d governors at d time.

grandstar:


Economic activity will pickup very fast once the lockdown ends.

It's like a post war recovery. People can't do business because of the war. But once the war is over, everybody is back at their various businesses and the econony begins to tick.

The fastest economic growths are probably post War recoveries. It is not that business dried up like during a recession. Government instead ordered economic activity to halt until the virus is contained.

and you think a country like Nigeria fit your analysis. What happened to the post biafran war? Can you truly say we've recovered? Or we've lost our freedom of regionalism?

Zionist26:


I must confess, you look beautiful.

Merci!

salford1:
This is true. On a different thread, someone with a recent bachelor's GIS qualification was not aware that GIS has moved on from just regular surveying to Python programming and databases. I was shocked at first but then realise he genuinely was not aware. I still don't know how to reply to a question he raised on how to bypass his deficiencies in programming.
Maybe those with the profile you suggested can also help with training. I remember power improved a bit when Barth Nnaji was a minister.
Madam Ngozi too was not used to her full capacity.

The likes of Ngozi and Barth Nnaji are the academic that Nigeria must avoid, to much hot air and no substance, Iweala wasted her good record under OBJ to become a rubber stamp minister that tolerated GEJ excesses. Barth Nnaji was brilliant academically but greedy, a minister responsible for Nigeria power resources also involved in building his own utility company. I am interested in Nigerians that are Chief Architect, Chief Engineers, COO, CEO and Directors in private sector organisations.