Lol...

Daily tust should fact check Tinubu's source of wealth, drug crime and his achievement. They should fact check Atiku living in Nigeria and his link to BH. They should fact check Sowore claiming he fought for Nigeria's freedom, they should fact check INEC rigging 2023 election.

Jobless media houses everywhere.

Who's the new lier in the building?

A president who cannot even take advantage of over 100 dollars per barrel crude oil sales for months and the NNPC he heads keep declaring loss, and he is the one giving us statistics of oil sales between 1999 and 2015,
This is a president who under him, our oil average output cannot be met and many are being stolen,
What an irony

De devil go fear APC liars including Buhari.

Damnnn dis politicians himself is inaccurate

Buhari has never been accurate about anything...
That lanky man is clueless as clueless itself..

I like this fact checking daily trust is doing

I can only say the monumental scam and looting spree that has gone on during the last 7-years will make Abacha's loot and Deizieani"s gold braziers pale into insignificance. A thorough audit of every sector must be done by whomever takes over because this Augean stable is filled with poo and will need an Hercules of a president to clean

The NNPC MD that claimed that he uses 100 million barren of crude to import 100 million litters is a prudent manager who not to be questioned or complaint about. They will all answer for their sins against Nigeria one day.

Him tu lie

Buhari with all the resources and information can make mistake on statistics but if Peter obi mistakenly say 5 out of 6 or 6 out of 7 Apc guys would say he doesn’t know what he is saying

Ok Obasanjo is exempted.

What did Jonathan Ebele do?

Jonathan was a fool

How una go believe Person wey no know wetin him de do

Igboslayer:
Crude oil... Easterners will claim oil producer as well.

If the east matter did not kill you, hmmmmm! You will live forever.

What concerns the east with Buhari's lies?

dre11:


https://dailytrust.com/fact-check-buharis-claim-on-crude-oil-prices-from-1999-2015-inaccurate

if this figure is coming from peter obi it would have been accurate. Igbos pigs and haters at work again

So it was only at 100 or above from 2011.

There's a saying that goes: continue throw more mud on the wall and some will stick. Meaning if you continously and repeatedly tell a lie, it will get to a point people will believe it to be truth.

That is the strategy of this administration and APC. Today, crude oil hover around $100 - $97.5.

From January to July 2022 this is the average price of crude oil: 86.51, 97. 13, 117.25, 104.58, 113.34, 122.7, and 111.93 respectively. Source: https://www.statista.com/statistics/262861/uk-brent-crude-oil-monthly-price-development/

The question is where is the excess money goings to? Even as we are under performing with our OPEC quota, who is stealing the shortfall? Corruption at its highest ebb!

Igboslayer:
Crude oil... Easterners will claim oil producer as well.

Where them the produce crude oil for the 5 red wastelands of Imo, Enugu, Anambra, Ebonyi and Abia?

The only oil they have ever known is Palm oil.

GamalNasser:
Buhari is in the midst of the biggest oil boom in human history, oil boom so big that the Saudis have started building a brand new city and Angolans are saving up like never before but this wicked good for nothing man is still failing and complaining about low oil prices

I'mma Fluid Engineer bro, you spoke the truth, Saudi just took delivery of 75 more rigs... Mehn... Kai

paradiseVirgin:
Ok Obasanjo is exempted.

What did Jonathan Ebele do?

Jonathan was a fool

Buhari should be the bigger fool because for the past six months, the oil price averagely from $110pb to $122.71pb as of june 2022. Source: https://www.statista.com/statistics/262861/uk-brent-crude-oil-monthly-price-development/

GamalNasser:
Buhari is in the midst of the biggest oil boom in human history, oil boom so big that the Saudis have started building a brand new city and Angolans are saving up like never before but this wicked good for nothing man is still failing and complaining about low oil prices

I hate to defend this admin

But the oil boom came after an oil shock lasting from 2014-2022.

During the oil shock, we were basically running below surivial level, to the point that we had to take loans galore. Without the loans, by now people won't have had salaries for up to 5 years.

We also still had to pay for subsides, which despite repeated efforts by the government to remove...not just Buhari, but all past admins since IBB...Nigerians insist on keeping...despite the loss of money and uncontrollable corruption and waste of forex it entails...we want subsidy because we are poor.

By the time oil prices went high again, we had to pay off loans, and pay for subsidy, and keep our forex reserves from falling below replacement level.

The only way we can see benefit from high oil prices is simple...start by remiving subsidy. (Nigerians say no). Start by removing subsidy (Nigerians say no). Allow the market set the price (Nigerians say no).

All this was outlined in 2004...before

The Dutch disease occurs when the traditional export (tradable goods) sector is crowded out by the booming export sector and the non-tradable goods sector. The lagging traditional tradable goods sector may include cocoa, palm produce, cotton, rubber, coal, copper, textiles and some manufactured goods while the booming export sector may be crude oil, coffee, gold, etc. The non-tradable (non-export) goods sector covers all those goods that are produced for domestic consumption only, e.g. staple food items, clothing, building materials, locally-assembled cars. Where crude oil (and gas) is the booming export sector, the non-oil export sector may be crowded out by the oil sector and the non-tradable goods sector of the economy. This can happen when the oil revenue windfall increases domestic demand for non-tradable goods and pushes up domestic prices leading to an appreciation of the real exchange rate which in turn reduces the competitiveness of the non-oil export sector. This will in turn lead to a reduction in non-oil exports in both quantum and value terms. The oil windfall may also lead to movement of the factors of production in the economy. For instance, capital and labor (and land) may shift from the non-oil export sector to the oil sector (in order to maintain or increase reserves and production) and the non-tradable goods sector (to take advantage of the growing domestic demand). This explains why the increase in oil prices and the subsequent oil revenue windfall in many oil-exporting countries have tended to depress their non-oil export sector while at the same time generating a boom in both the oil and the non-tradable goods sectors. With capital and labor shifting from the non-oil export sector to the oil-sector and non-traded goods sector, firms in the non-oil export sector are forced to either close down or reduce their scale of operation. The boom in the oil and non-traded goods sector increases the demand for imported goods. [b]This may not be a problem in the short-term so long as the country has enough foreign exchange to pay for the imports. The depression in the non-oil export sector and the boom in the other two sectors have medium to long term implications for the economy because the oil windfall will not be permanent given the volatility, unpredictability and exhaustibility of crude oil. For instance, if there is a decline in oil prices and oil revenue, the lagging and collapsing non-oil export sector will not be able to compensate for the drop in oil revenue while domestic demand for the non-traded goods and imports remain sticky. Consequently, the country will be forced to borrow from the international financial market to compensate for the decline in oil revenue. Over time, external debts will increase and so will the debt service obligations. Even when oil prices go up later and there is another round of oil windfall, it is difficult to correct the earlier damage or distortions created by the initial or previous oil windfall. In some cases, the oil exporting country may be forced to adopt some form of structural adjustment program (SAP) to correct such distortions or imbalances. Some of these SAPs are painful and may increase the prevalence, depth and severity of poverty[/b].


If you notice, none of the main candidates is talking about the real problem.....

anyilalaz:


Buhari should be the bigger fool because for the past six months, the oil price averagely from $110pb to $122.71pb as of june 2022. Source: https://www.statista.com/statistics/262861/uk-brent-crude-oil-monthly-price-development/

Yes, Buhari is a bad leader, but not for the reasons you outline.

From 2014 until 7 months ago, oil prices have been too low for us to survive on. So, we have to take loans.

Over the last six months, oil prices have risen, but because

1.We have to pay back the loans

2.Pay an increasing amount to subsidise fuel

3.We failed to diversify our economy since 2015...which is where buhari has failed.

4.Failed to widen the tax net...

A large chunk of our oil revenue is going into paying off loans and subsidy claims.

Removing subsidy will help us see some benefit.

GEJ wanted to remove subsidy. You Nigerians said no...as a result...he spent a lot of our oil windfall paying off subsidy...and even then it wasn't enough. Buhari was still paying off subsidy claims left over from GEJ by 2018. There is a reason why subsidy has to go.

APC are liars. They keep dishing out false as facts.

Agbado Plus Cassava mentality.

As for Buhari, he has never been a smart one,trying to be half smart still makes his IQ lower than that of his less than 4yrs old grand kids.

F117nighthawk:
A president who cannot even take advantage of over 100 dollars per barrel crude oil sales for months and the NNPC he heads keep declaring loss, and he is the one giving us statistics of oil sales between 1999 and 2015,
This is a president who under him, our oil average output cannot be met and many are being stolen,
What an irony

What a country?! As if March, April, May, June and July the average price of crude oil in dollars per barrel was 97.13, 117.25, 104.58,113.34, 122.71, 111.93 respectively. Source: https://www.statista.com/statistics/262861/uk-brent-crude-oil-monthly-price-development/ If Nigeria was do be corporate organization, by now the CEO, CFO and all top managers would've been fired for donkey yrs.

Jonathan era is a child's play when an opposition government take over and audit the books of all ministries, agencies etc involved in the management of the nation oil sector.

F117nighthawk:
A president who cannot even take advantage of over 100 dollars per barrel crude oil sales for months and the NNPC he heads keep declaring loss, and he is the one giving us statistics of oil sales between 1999 and 2015,
This is a president who under him, our oil average output cannot be met and many are being stolen,
What an irony

We can't take advantage because

1.From 2014 to 7 months ago, oil prices were so low we had to take loans to meet up. Even before Buhari took over.

2.We are still paying a lot of money to subsidse fuel and the cost of subsidy has jumped up drastically since oil prices rose.

3.We are tryna not to touch the forex reserves this time.

The only way forward is if Buhari removes subsidy from fuel completely....meaning we have enough forex...and if the incoming government...hopefully not Tinubu or Atiku (Obi is just as bad, but if it came to a runoff between him and either Atiku or Tinubu, he is the sensible choice)..diversifies the economy.

The drop in oil revenues was caused by Buhari's insistence on exploring oil in the North while the existing oil wells in the south are drying up.

Keep the exploration in the Niger Delta and South to increase oil output.

What about that Lagos State oil export?

Buhari is an illiterate, incompetent and corrupt LIAR, simple and short! When you say inaccurate, it looks like some euphemism and meanwhile he has touted these lies repeatedly and some BAT wants continue from where he stopped! God forbid!

anyilalaz:


What a country?! As if March, April, May, June and July the average price of crude oil in dollars per barrel was 97.13, 117.25, 104.58,113.34, 122.71, 111.93 respectively. Source: https://www.statista.com/statistics/262861/uk-brent-crude-oil-monthly-price-development/ If Nigeria was do be corporate organization, by now the CEO, CFO and all top managers would've been fired for donkey yrs.

Jonathan era is a child's play when an opposition government take over and audit the books of all ministries, agencies etc involved in the management of the nation oil sector.

Jonny boy who drained our forex reserves? Jonny boy who was taking loans before the end of his admin?

Anyway, Buhari and Jonny are alike. The difference is that Buhari had low oil prices until six months ago...so he had to take more and more loans.

Jonny in order to avoid taking loans spent and did not save...not because he was a bad leader...but because he had to pay for subsides and for previous loans taken...because even with high oil prices, it was not high enough.

The day you guys realise that our problem begins and ends with our reliance on oil and importaiton and poor taxation...that's the time you will vote for sensible leaders ...or even become sensible leaders.