GetMeRight:


Oil is not our problem, never was. Corruption is our problem. We could have done a lots with oil money if we never prioritised corruption. Look at UAE and wonders that their visionary and futuristic leaders are doing with the same oil money! No be dat same oil money dey turn our many corrupt leaders into overnight billionaires?

GetMeRight:


They will be traced because they bought houses in california but won't be traced if they buy it in other states? I think you're being carried away

backbencher:


UAE has less than 15 million people and produces more oil than we do.

Nigeria has 200 million people.

Remove corruption and the money would still be scanty

Oil drops to ten dollars per barrel and the UAE would look like a backward African country in no time.

MALIGNANTGuest:

The Population matter na serious one but most people will always argue it.
I don't blame them. They should keep up with the mass production of babies.
Naija go become Mumbai soon.

Overpopulation breeds diseases.
That's the reason INDIA has got a Full package of all the diseases in the world.
China get luck. They implemented one child policy alongside a passionate leader.

TrackerXL:
Drug addict beta than Peter Peter Obi criminal. Plus he is not gifting your wrethed
Mothers N500 for birthing lunatics.

shantti:
Why is it that the weather of abroad is Serene and beautiful while that of Nigeria is full of harsh sun and dust?

FERNANDEZISBACK:

Everything is.. appreciate stuffs like this abeg..

backbencher:


UAE has less than 15 million people and produces more oil than we do.

Nigeria has 200 million people.

Remove corruption and the money would still be scanty

Oil drops to ten dollars per barrel and the UAE would look like a backward African country in no time.

backbencher:


UAE has less than 15 million people and produces more oil than we do.

Nigeria has 200 million people.

Remove corruption and the money would still be scanty

Oil drops to ten dollars per barrel and the UAE would look like a backward African country in no time.

mixta140:

But if na naija own project una no dey talk this ooo

GetMeRight:


May be you should look at the total amount of money we've made from oil sales to date. Larger percentage of funds being allocated for development are going into private pockets, from politicians to military to civil servants.
We don't have problem of population in Nigeria at all, our problem is corruption. No social welfare, we produce our own water, energy, security, health care, no mortgage, no students loans or anything. So, how did our population affect the income? It is not like the government is spending the oil income on the citizens

360command:
the thing is , with oil, it could have helped and improve other sectors of the economy. But our corrupt thinking did not make us reason that way.

Klington:
Country where real humans live.

Not here some heeediots are planning to elect another walking dead ancestor as president.

God bless America!!!

backbencher:


A problem with oil is that the money is never stable.

Look at it this way. You are employed with a salary of 150000 naira monthly. But in twelve months your employer pays you 20000 for the first five months, 10000 for 2 months and 70000 for 3 months and 150000 for the other months.

And you have expenses of 100000 monthly.

So to survive you take loans.

That's the problem with crude oil.

brandsoncharlie:

I will be ashamed to be called a Nigerian if that walking corpse is elected as president.

Earlystar698:
While the world is moving forward, the miscreants youth of Nigeria is busy packaging drug adict as their president in 4 years coming, lmao and to think Elon doesn't believe in religion is another thing for Nigeria religious extrimst. I have failed as a father if my children have country of origin as Nigeria.


OP enjoy yourself

Klington:


For the fact that he's contesting is already making me very sick.

Klington:
Country where real humans live.

Not here some heeediots are planning to elect another walking dead ancestor as president.

God bless America!!!

timesup234:
Which clean environment? California is the most dirtiest place in the world. A very big for nothing cow dung

CUMIN:
Nigerians go abroad to school and enjoy others people birth right.

The Chinese went abroad school and went back home to develop.

Now Chinese cities are better than American own.

MALIGNANTGuest:

Naija Air is too polluted especially its major cities.
First, Cars don't emit such pungent smoke like we have in Naija. Most cars are serviced well abroad.
Cars are well managed like humans in hospitals.

Secondly, their refineries do not emit dark waste, unlike ours, like the NigerDelta situation, where citizens now operate individual refineries.

Thirdly, we have lots of Generator plants littered everywhere in Naija.
People still use stoves. Bushes are burnt indiscriminately. No one cares.
Fourthly, Naija is fast becoming densely populated and no longer sparsely populated.

Finally, we don't plant TREES in our major cities.
Go to Onitsha/Lagos/ Kano/ Aba and see the mayhem people breath.
You can Add yours.

MALIGNANTGuest:

Honestly.
It's sickening.
The thought of such despite escaping from Naija gives me Palpitations.
Are there no other sound Yoruba men or what?

brandsoncharlie:

Your analysis is not good at all, but Saudi Arabia, Qatar, UAE economy is more viable and the country more developed than us despite the fact crude oil products are sold lesser over there than in Nigeria.
How did diezani madueke get such huge money to sabotage from crude oil if going by your analysis.
Even still now there's a sabotage going on just that it hasn't been uncovered or exposed.

backbencher:


Okay, I am going to point out a few facts

1.Oil was at 102 dollars 12 years ago, 30 dollars in 2016, 80 dollars in 2018 and 24 dollars in 2020.(anno covid)

2.Meanwhile, due to our population, we needed oil at 122 dollars in 2012 , 139 dollars in 2017 and 133 dollars in 2020 (called fiscal breakeven oil price)

3.Saudi Arabia produces oil 5 times more than we do...about 10 million barrels a day to our 1.3 million barrels a day. And they have 40 million people to our 210 million people now. Divide the revenue, and you see why we are broke.

UAE produces 2.4million barrels of oil a day, and has 15 million people or less, compared to our 1.3 million barrels and 210 million people.

Really, we don't and have never earned enough money from oil. That's why we are broke, always taking loans, and why when people like Diezani in the past , and some of Bubu's minions now steal, it is big news...because they are stealing from a pot that is already embarrassingly small.

Or as SLS once put it....4 Saudis have access to one barrel of oil's revenue. For Nigeria, it's like 80 -110 nigerians to one barrel of oil revenue.


4.At the end of the day, the reason why Buhari is running a bad government, and why all Nigerian governments since independence have been bad from 1960 to date is because they do not use their one talent to make ten talents.

We could have made far more money if we had used the oil money to make even far more money. By, you know, diversifying into industries. Instead, we share the money, and pay for projects that we cannot sustain, free gifts that we cannot sustain, and corruption takes most of it anyway.

That's why this government, and the past ones aren't running our country well, why we are poor, and why we are constantly in debt...Nigeria and most other African countries.

Until we use our available resources to make industrial products for the world, pay enough in taxes, and stop relying on oil, we will never be proseprous.

Saudi and UAE...if oil goes down to 10 dolalrs per barrel would be broke.

By the way, Saudi's debt is $227.8 billion dollars.UAE is 113.2 billion dolalrs, Nigeria is 138 billion dollars. Want to swap debts?

Nigeria must follow China and become an exporter of industrial products...so that we can become rich. No be beans.

brandsoncharlie:

In spite of this, why has Nigeria not had a single working Refinery, every Nigerian knows the real cause.
As at the time crude oil was sold at $30 dollars/barrel at the time of obasanjo we weren't going on a borrowing spree like the way we are having it now, it shows that from then still now the economy has been devasted with mismanagement and corruption.

According to Reuters (2004), Nigeria is said to have lost up to 40% of its oil revenues to corruption.https://www.emerald.com/insight/content/doi/10.1108/JMLC-10-2020-0119/full/html#:~:text=According%20to%20Reuters%20(2004)%2C,combat%20corruption%20in%20the%20sector.
Imagine what we would have done with such funds In terms of development and other sectors of the economy.
These are the impediment for not development not population because there will be shortage of funds for government that's why they borrow.
Look at the trains we source as loans from China and other infrastructures, that should tell you the problem isn't from population but mismanagement of the economy from the Nigerian leaders.

backbencher:



We don't have a single refinery because we sell the fuel from the refineries at a loss and pay something called subsidy that doesn't cover the losses.

brandsoncharlie:

The excuse you are giving is not valid, Dangote a single Nigerian can build one but FG can't.
They can't also build Refinery but can sabotage 40% of oil revenue.
Please bring another excuse am waiting.
According to Reuters (2004), Nigeria is said to have lost up to 40% of its oil revenues to corruption.https://www.emerald.com/insight/content/doi/10.1108/JMLC-10-2020-0119/full/html#:~:text=According%20to%

backbencher:



We don't have a single refinery because we sell the fuel from the refineries at a loss and pay something called subsidy that doesn't cover the losses.