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Fact Check: Crude Oil Never Sold For $100 Per Barrel Under Obasanjo - Politics (3) - Nairaland

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Re: Fact Check: Crude Oil Never Sold For $100 Per Barrel Under Obasanjo by BruncleZuma: 7:50am On Jun 11
Jonegonu:
take a look at this graph
Nigeria does not export Brent Crude Mr Oversabi.
Re: Fact Check: Crude Oil Never Sold For $100 Per Barrel Under Obasanjo by samsard(m): 7:55am On Jun 11
BruncleZuma:
Nigeria does not export Brent Crude Mr Oversabi.
Brent is the benchmark crude globally.

2 Likes

Re: Fact Check: Crude Oil Never Sold For $100 Per Barrel Under Obasanjo by BrainSanitizer: 7:56am On Jun 11
UstazAhmed:
Stop insulting the president, you are insulting your nation. Be patriotic for once

Every president in the world is insulted.
Though I can't insult Nigeria's president because we don't have one.
I can only talk to the presidency.
The presidency has failed the country.

2 Likes

Re: Fact Check: Crude Oil Never Sold For $100 Per Barrel Under Obasanjo by vedaxcool(m): 7:57am On Jun 11
Number1benue:


Pls oo Oga! We are not fighting, or rather am not trying to get into a scuffle with you.

I just stated an obvious there that's all. He did a project" good of him. But to do it he burrowed money, which begs a question he's own oil money where has it being going? lipsrsealed undecided

It shouldn't be hard to tell us where the invisible projects at high oil prices are located. All the projects he has executed has counterpart funding, at least if you are going to criticize someone do so as an informed person not a bitter critique who will throw around allegations without a modicum of understanding nor research.
Re: Fact Check: Crude Oil Never Sold For $100 Per Barrel Under Obasanjo by BruncleZuma: 7:57am On Jun 11
samsard:
Brent is the benchmark crude globally.
Omo all this one nah Google for help you. Bonny Light is sold as part of OPEC basket. Better use your phone well make your screen for no fall. Brent is sold separately.

1 Like

Re: Fact Check: Crude Oil Never Sold For $100 Per Barrel Under Obasanjo by vedaxcool(m): 8:00am On Jun 11
mrvitalis:

Proved him wrong with borrowing money for a feel good project ? LMAO
Can that rail project pay back it's loan ? Can't it even maintain it's self ?

LMFAO! You seem more pained that the project was successfully executed. Doyin Okupe has been proven wrong over and over again. With high oil prices they couldn't even imagine a Nigeria with new coaches all they dreamt of his used shoddy locking coaches. PMB delivered what they couldn't imagine. Think about that everyone your pained heart see Buharis train � roar by!
Re: Fact Check: Crude Oil Never Sold For $100 Per Barrel Under Obasanjo by vedaxcool(m): 8:03am On Jun 11
Cj4charles:
Zombie will always be Zombie that was why Fela sang the song for people like you. They say truth have one ending while lies has seven ending. You are not even ashame that the only thing this government can fully come to achieve is just railway after sending several Nigerians to their early grave with the increments of everything in this country.

At least your useless PDP should have achieved just one thing, but instead it grew bokoharam, banditry,, looting and many malaise still afflicting us till today. Yes Athiefku zombie cannot cum without thinking of PMB
Re: Fact Check: Crude Oil Never Sold For $100 Per Barrel Under Obasanjo by samsard(m): 8:13am On Jun 11
BruncleZuma:
Omo all this one nah Google for help you. Bonny Light is sold as part of OPEC basket. Better use your phone well make your screen for no fall. Brent is sold separately.
We all know Brent is sold separately. But like I said, Brent is the global benchmark crude.

1 Like

Re: Fact Check: Crude Oil Never Sold For $100 Per Barrel Under Obasanjo by BruncleZuma: 8:15am On Jun 11
samsard:
We all know Brent is sold separately. But like I said, Brent is the global benchmark crude.
Nigeria as I indicated for you, does not sell Brent. Brent is a benchmark for Brent Crude and Bonny Light is same for Nigeria's crude which is part of the OPEC Basket (The only benchmark Nigeria sells under). Put the appropriate chart make e no be like say you actually no sabi wetin you dey type or you want argue in bad faith.

1 Like

Re: Fact Check: Crude Oil Never Sold For $100 Per Barrel Under Obasanjo by adm212144: 8:15am On Jun 11
vedaxcool:
grin lol is that all? Off course ignore the fact that oil price was more stable during previous years with nothing to show it, which was the point he was making, Doyin Okupe swore Nigeria in the TIME OF HIGH OIL PRICES CANNOT AFFORD NEW COACHES FOR OUR TRAIN SERVICE.

PMB has proven them wrong and has done more with less even building the perennial promise and fail second Niger bridge! We go well last last.
33.01 trillion debt only for rail projects .have you thought about the economic significance?see we shouldn’t be seen praising this people .we are in mess .one problem about Nigerian .All this suffering and issues is solve only on commissioning of rail project .Don’t forget PDP government initiated it .

2 Likes

Re: Fact Check: Crude Oil Never Sold For $100 Per Barrel Under Obasanjo by mrvitalis(m): 8:20am On Jun 11
vedaxcool:


LMFAO! You seem more pained that the project was successfully executed. Doyin Okupe has been proven wrong over and over again. With high oil prices they couldn't even imagine a Nigeria with new coaches all they dreamt of his used shoddy locking coaches. PMB delivered what they couldn't imagine. Think about that everyone your pained heart see Buharis train � roar by!
Railway is not an economically viable project really as it's not Profitable and only what economics call a feel good project

I'm not saying PDP are good but glorifying this type of projects shows how backward we are

Yes I supported this government early on but they are far worse than PDP in terms of governance

Completing lagos ibadan express way would have been far more economically viable than this rail

3 Likes

Re: Fact Check: Crude Oil Never Sold For $100 Per Barrel Under Obasanjo by FarahAideed: 8:21am On Jun 11
Sirjamo:
This one does not know what average means, go back to school


You want me to calculate it for you so you can see that the average oil price under your senile leader was 53 dol? Well I don't expect anyone who supports Buhari to have an IQ above 65

3 Likes

Re: Fact Check: Crude Oil Never Sold For $100 Per Barrel Under Obasanjo by Born2Breed(f): 8:24am On Jun 11
E do tay wey this man brain, not balance.

Once he opens his mouth all you hear are jargons, the previous government were able to keep the economy afloat, universities,almajiri, roads, the railway you commissioned years ago and more were being built.

Our debt was very very low compared to now. Buhari, what have you done aside from giving us herdsmen killers, nepotism, division along ethnic lines, banditry, more blood shed and poverty just to mention a few.

Buhari has taken Nigeria 20yrs backwards and it has always been the north that is destroying this nation.

3 Likes

Re: Fact Check: Crude Oil Never Sold For $100 Per Barrel Under Obasanjo by Number1benue: 8:26am On Jun 11
vedaxcool:


It shouldn't be hard to tell us where the invisible projects at high oil prices are located. All the projects he has executed has counterpart funding, at least if you are going to criticize someone do so as an informed person not a bitter critique who will throw around allegations without a modicum of understanding nor research.

Why is it that when ever someone is not in unison with you guys you tag the person to be an enemy of the cause you a re trying to champion. I don't so much as care of APC or PDP they can all go Bleep them self for all I care.

What I care about is stating an obvious where there is......simple....

4 Likes

Re: Fact Check: Crude Oil Never Sold For $100 Per Barrel Under Obasanjo by Cnach: 8:33am On Jun 11
Agbegbaorogboyepost=102585521:

How can you call a comparison of six and sixteen years which you want fair.
Why don't we compare the two leaders who have served above six years and see who earned more oil revenue.
Shall we?
Oh my brother, so there are still wiser Nigeria youths?
U are doing well.
And pls always use ur precious time on things better and not on blind people. They can't see bro

3 Likes

Re: Fact Check: Crude Oil Never Sold For $100 Per Barrel Under Obasanjo by Cnach: 8:37am On Jun 11
mrvitalis:

Railway is not an economically viable project really as it's not Profitable and only what economics call a feel good project

I'm not saying PDP are good but glorifying this type of projects shows how backward we are

Yes I supported this government early on but they are far worse than PDP in terms of governance

Completing lagos ibadan express way would have been far more economically viable than this rail
My brother is borrowing to finance a project a success? U didn't make the money, u are imposing too much on another man who is going to pay the debt. What if all the railway got broken, how is the money going to cone out?
Many are just blind in Nigeria shaa

3 Likes

Re: Fact Check: Crude Oil Never Sold For $100 Per Barrel Under Obasanjo by samsard(m): 8:38am On Jun 11
BruncleZuma:
Nigeria as I indicated for you, does not sell Brent. Brent is a benchmark for Brent Crude and Bonny Light is same for Nigeria's crude which is part of the OPEC Basket (The only benchmark Nigeria sells under). Put the appropriate chart make e no be like say you actually no sabi wetin you dey type or you want argue in bad faith.
That would probably be for whoever dropped a chart for you. But whenever global crude price is being mentioned, Brent is the standard. They can go on to break down into Shale and all the others, but Brent is the standard cool
Re: Fact Check: Crude Oil Never Sold For $100 Per Barrel Under Obasanjo by BruncleZuma: 8:40am On Jun 11
samsard:
That would probably be for whoever dropped a chart for you. But whenever global crude price is being mentioned, Brent is the standard. They can go on to break down into Shale and all the others, but Brent is the standard cool
Brent is not the Standard but rather West Texas Intermediate (this is used to measure Oil Price)

1 Like

Re: Fact Check: Crude Oil Never Sold For $100 Per Barrel Under Obasanjo by vedaxcool(m): 10:45am On Jun 11
mrvitalis:

Railway is not an economically viable project really as it's not Profitable and only what economics call a feel good project

I'm not saying PDP are good but glorifying this type of projects shows how backward we are

Yes I supported this government early on but they are far worse than PDP in terms of governance

Completing lagos ibadan express way would have been far more economically viable than this rail

Transport infrastructure is beyond profit Mr. Pained heart

1 Like

Re: Fact Check: Crude Oil Never Sold For $100 Per Barrel Under Obasanjo by Asour: 11:18am On Jun 11
FarahAideed:


Sold at an average of 53 dollars and currently 73 ..Buhari is a failure

That this administration has performed poorly is not in doubt.

But I think both the President & this OP aren't making the right comparisons here.

The right question should be what's the (Real) Inflation adjusted price of the commodity over these years?

Not just the nominal prices. Nominal prices can be deceptive in inflationary environments.

4 Likes

Re: Fact Check: Crude Oil Never Sold For $100 Per Barrel Under Obasanjo by Nauttyprof(m): 11:26am On Jun 11
Commentor:
Why not complete your research by telling us how much it's been sold since 2015.

Kindly understand that this is a fact check based on the statement of the president and how APC have been deceptive from the onset. Making us to believe that for good 16 years of PDP in power they never faced challenges but were being wasteful. Whereas with the little resources this present government claim to have, they are more wasteful than the 16 years of PDP put together.

1 Like

Re: Fact Check: Crude Oil Never Sold For $100 Per Barrel Under Obasanjo by Timon4real(m): 11:27am On Jun 11
You're smart
SmartPolician:
We know say Buhari no get sense, but he raised a very important point. He argued that Nigeria made a lot of money between 1999 and 2014, asking what the previous governments did with the money.

However, I expected the journalists in the media chat, including Mr. Nduka Obaigbena (who's obviously the most experienced), to ask him what he has done differently because he has borrowed to finance almost all the projects this administration has executed.
Re: Fact Check: Crude Oil Never Sold For $100 Per Barrel Under Obasanjo by Harrisonwo(m): 12:04pm On Jun 11
To add to the analysis, the previous regimes paid much on subsidies.
The higher the crude price, the higher the subsidy.

Coupled with ECA and low debt et al

2 Likes

Re: Fact Check: Crude Oil Never Sold For $100 Per Barrel Under Obasanjo by Kfed4ril(m): 12:42pm On Jun 11
UstazAhmed:
Stop insulting the president, you are insulting your nation. Be patriotic for once

Lol
But you were always insulting GEJ at any given opportunity, even your PMB was also insulting him during his campaign days.

And guy patriotism isn’t loyalty to your president but loyalty to your country

3 Likes 1 Share

Re: Fact Check: Crude Oil Never Sold For $100 Per Barrel Under Obasanjo by TheGoodJoe(m): 1:23pm On Jun 11
vedaxcool:
grin lol is that all? Off course ignore the fact that oil price was more stable during previous years with nothing to show it, which was the point he was making, Doyin Okupe swore Nigeria in the TIME OF HIGH OIL PRICES CANNOT AFFORD NEW COACHES FOR OUR TRAIN SERVICE.

PMB has proven them wrong and has done more with less even building the perennial promise and fail second Niger bridge! We go well last last.

By borrowing.

1 Like

Re: Fact Check: Crude Oil Never Sold For $100 Per Barrel Under Obasanjo by vedaxcool(m): 1:33pm On Jun 11
TheGoodJoe:


By borrowing.

And
Re: Fact Check: Crude Oil Never Sold For $100 Per Barrel Under Obasanjo by musty2245: 10:41pm On Jun 12
Back then when crude oil was sold fr #87
Let be sincere are we able to afford on lyk now that is #165
Re: Fact Check: Crude Oil Never Sold For $100 Per Barrel Under Obasanjo by Sipsum: 11:35pm On Jun 12
FarahAideed:


Sold at an average of 53 dollars and currently 73 ..Buhari is a failure

Another Lie.
Re: Fact Check: Crude Oil Never Sold For $100 Per Barrel Under Obasanjo by Sipsum: 11:42pm On Jun 12
vedaxcool:
grin lol is that all? Off course ignore the fact that oil price was more stable during previous years with nothing to show it, which was the point he was making, Doyin Okupe swore Nigeria in the TIME OF HIGH OIL PRICES CANNOT AFFORD NEW COACHES FOR OUR TRAIN SERVICE.

PMB has proven them wrong and has done more with less even building the perennial promise and fail second Niger bridge! We go well last last.

If pdp did not build anything and we have money in the reserve, e for no pain me.
But dem no do anything meaningful, dem no leave better money for reserve, which kind wahala.
Did you see how they were trying to print va #5,000 naira note, na God save this country especially the poor.
Awon olori buruku.
Re: Fact Check: Crude Oil Never Sold For $100 Per Barrel Under Obasanjo by DMerciful(m): 4:49pm
With 100% borrowed money? Has he generated any money? Will his govt pay back the money?
vedaxcool:
grin lol is that all? Off course ignore the fact that oil price was more stable during previous years with nothing to show it, which was the point he was making, Doyin Okupe swore Nigeria in the TIME OF HIGH OIL PRICES CANNOT AFFORD NEW COACHES FOR OUR TRAIN SERVICE.

PMB has proven them wrong and has done more with less even building the perennial promise and fail second Niger bridge! We go well last last.
Re: Fact Check: Crude Oil Never Sold For $100 Per Barrel Under Obasanjo by DMerciful(m): 4:52pm
Was it annual average or just few months?Just like Bitcoin hit $67k does not mean it sold annually for more than $50k. That's the reason you were thought averages in mathematics, that's what counts interms of annual earnings
michoim:
This your fact check is false. I remember vividly there was a time Brent crude hit $140 per barrel under Jonathan administration
Re: Fact Check: Crude Oil Never Sold For $100 Per Barrel Under Obasanjo by DMerciful(m): 4:55pm
Who will pay the borrowed money? Bubu or successive governments?

Use your head, Bubu is just lazily borrowing so technically he has done no infrastructure since he will not be the one who's govt will pay
vedaxcool:


He did, no matter how your jaundiced heart wants to look at it. The borrowed money will be paid with what money? Borrowed money? At high oil prices these project could have easily been executed and paid for. If you cannot understand that the. You are dealing in sentiments not FACTS

. And please where are the projects the other administrations borrowed money for? Yeah you are right nowhere to be found.

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