dplordx: Recession. NOI dey craze! I repeat, shes madt!
No light. No security. No money. No good road. No quality education. No good thing at all. Bokoharam all around. Too much corruption!
Now this fat hippopotamus is waking up like a vampire to go ahead with pulling off the other subsidy plug when its becoming glaring the masses arent the ones to blame but her useless PDP cabal. Make thunder strike dis wowo monkey die if she ever tries to burden Nigerians again. I hope this women wont end up completely destroying GEJ sha...
Na for this yeye regime everything dey hard sotey!!!!

lookmangiw: Forget the recession blah, blah. My major concern is the price of oil. Once the price of oil drops sharply in the world market let say to $60/barrel, then our imported oil price will also drop thereby reduce the fuel price at the petrol station. Then there wont be anything like fuel subsidy anymore. In conclusion, i think the masses are the one to gain from this while the rich elite will suffer a drastic reduction in looted fund.

inene: i dont need an Okonjo Iweala to tell me that hard times are here. Have you seen how oil prices have been tumbling down. Very soon it will get to the level as to rubbish all the calculations that went into this year's budget. The Vice Chancellor of UNijankara, uncle Dele Sobowale laid it all out in his column in the Sunday Vanguard. Its a prophesy that those who claim to be leaders should be mindful of and i am suprised that Dr Okonjo is just talking about it now. There is fire on the mountain for an economy like ours that is heavily dependent on oil. Very soon there would be nothing left to steal and when the economic depression becomes too hard to bear, one foolish soldier will shove away these gang of robbers and then carry the can of a mismanaged economy and then start the process of pretending to democratize the polity all over again. I wonder, i just wonder.

Beaf: [s]If the states and LG's were not reliant of oil awuf, there would be no recession.

The way we go on about oil in Nigeria, you would think the average person was an invalid with an IQ at fish level; too useless to produce anything, work, invent or be useful to society.

The way we go on and on about oil, any foreigner would think the country consists of a pack of indolent who think that states and LG's only function as conduit pipes for awuf from Abuja.

I feel deep shame each time discussions like this one come up, because it is proof that Nigeria has no future. The average mind is as creative as the nearest rock.

Let us be in recession forever if that is what will get us thinking. A man who does not work should not eat.

Beaf: If the states and LG's were not reliant on oil awuf, there would be no recession.

The way we go on about oil in Nigeria, you would think the average person was an invalid with an IQ at fish level; too useless to produce anything, work, invent or be useful to society.

The way we go on and on about oil, any foreigner would think the country consists of a pack of indolent who think that states and LG's only function as conduit pipes for awuf from Abuja.

I feel deep shame each time discussions like this one come up, because it is proof that Nigeria has no future. The average mind is as creative as the nearest rock.

Let us be in recession forever if that is what will get us thinking. A man who does not work should not eat.

Billyonaire: The budget, if I am not mistaken is based on oil benchmark price of $70 per barrel, so except the oil price falls below that price, we are above the water, but what might change will be the income accrue-able to the excess crude account, part of which goes to Sovereign Wealth Funds (account) and remaining which are shared to the State (governors). Lets not also forget that America has cut purchases of Nigeria crude, and we are shipping more crude to distant China to meet up the quota, that means longer time to get funds. If the US policy on green energy keep the reduction on importation of our crude on the increasing trend, I assume we have a mental picture of what is to come. I am not TB Joshua, I dont need to prophesy, but all I can say is, if singing is your talent, start developing it. The future is bright but uncertain.

Nigerian crude oil prices came under renewed selling pressure on Monday as unsold cargoes competed with limited buying interest from Asia and Western markets.

20 Nigerian cargoes for loading in July remained unsold and on offer, traders said, just a week before the new loading programmes for August were due to be announced.

Some light crude oil grades saw their asking price lower, particularly those with relatively high yields of naphtha and gasoline.

The ultra-light crude, Agbami, which is so light it is sometimes classified as a condensate, has been sold at least once at a substantial discount to the North Sea benchmark, dated Brent, which is considered of inferior quality.

"Most of the Nigerian grades have suffered from low demand in recent months," said a physical crude oil trader with an independent commodities house.

"Naphtha grades have been hit particularly hard as crack values have narrowed and Mediterranean grades are more competitive."

Nigeria's benchmark Grade eased 5 to 10 cents per barrel to around dated Brent plus $1.80/$2.00, about 30-40 cents below levels only a week ago.

A cargo was heard offered at dated plus $2 a barrel and two cargoes were reported done below that level.

They were Bonny Light: assessed at Qua Iboe minus 20-30 cents, and Agbami: Chevron was reported to have sold an Agbami cargo for July 14-15 to Petrobras as low as dated Brent minus 75 cents, at the bottom of a reported talking range of minus 50-75 cents.

Also,Yoho went under heavy pressure as naphtha cracks have fallen, traders said, but exact levels unclear.

lookmangiw: Forget the recession blah, blah. My major concern is the price of oil. Once the price of oil drops sharply in the world market let say to $60/barrel, then our imported oil price will also drop thereby reduce the fuel price at the petrol station. Then there wont be anything like fuel subsidy anymore. In conclusion, i think the masses are the one to gain from this while the rich elite will suffer a drastic reduction in looted fund.

beaf: b

Proxytalk:
If we are to go by reports, Oil contributes less than 20% of the GDP so why would a fall in oil prices be enough to lead us into a recession?
I diagree wt you, ist oil account for abt 95% of our foreign erning. Though im not sure of GDP but cannt be less than 60%. what is that that we produce. SS states are so rich cos jst 13% goes to them. hvnt you heard that many states arent viable outside fedrtn a/c which is 100% oil sales.crude oil is nig economy and vice vers