₦airaland Forum

blueAgent:
See how hypocritical you are.

The same US, you accuse of stealing Nigerian's crude oil wealth, is the same US you are proudly claiming?

That's if it is true , you are on US.

What made in under level is that you live on the US?
What a childish talk.
Is that how you express your level of intelligence?
Young Man grow up.


Audio US

Whatever makes you feel better about your misery my boi

blueAgent:
Clown.
You go 4 fit dey debate with me?

You way no get facts or evidence, dey form woke.

Again what's the point of debating with you? We're not on the same level, I'm a Republican living in the USA, so forming woke is alien to me.....Nice try tho

blueAgent:
My friend you have no arguments, just sentiments.

Who dey follow you argue? No be you dey mention me....Move on with your ignorance!

blueAgent:
Sighs!!! As if it makes any difference.

So were are the facts? Or state department dies not have files and statistics?

You want files and statistics to prove Western influence over the Nigerian oil sector? No be juju be that? I resemble whistleblower for your mind

blueAgent:
Veru useless writeup without facts.

Was it not your government that carried out the indiginization of the oil refineries, that lead to its present failure?

Is there any country in the world that is not a borrower? Including US,China, UK e.t.c.

So your claim is totally void.
You blacks and Africans over estimate your resources and capacity.

The West have all the money in the World they don't need to steal what they can afford.

I hope you know, just 4companies alone in US have revenue and market capitalization larger than the entire African Economy.

I live in the USA and I'm the son of a man who worked with the state department for over 20 years, I'm not here to convince you of shit, you only know what you know so go on with your ignorance young man!

[quote author=blueAgent post=131374478][/quote]The story long o but make I give you hint, from Shell being given the sole rights to drill oil to the eventual creation of NNPC and the bastardization of the refineries in the 1990s to complete dependence on importation of oil.......The West in conjunction with IMF would rather continue to give corrupt leaders loans in exchange for oil based agreements that ensures oil exportation and pertrol importation levels remains constant.

The threat of having working refineries that would stop such agreement is tantamount to a declaration of war!

PHAYOL81:
I doubt Nigeria consume anything around 60 million litres per day. The number is between 30/33 million litres which is well short of the 53million litres dangote refinery would produce （of PMS）. A monthly consumption rate or better put, our regular monthly importation of PMS data stands at an average of 1billion litres. [b]So with the refinery configure to produce 53million litres everyday, it should be able to produce close to 1.6million litres monthly which covers our need and still leaves around 500million litres for FX generation. [/b]Remember, a chunk of the number we import （in PMS）are smuggled out through our leaking borders.
Besides, Dangote refinery ain't alone in the business in the country. We have many modular plants to help out and hopefully, some ongoing construction to help too even if we have to accept the national refineries are doomed never to function.
And to further correct another misinformation, Dangote refinery is 650k bpd capacity, not 600k.

Stop using Google AI and do actual research, bfore you shout misinformation, go back and read what I wrote, AS OF 2023, the daily consumption was over 60 million. Moving on, even if Dangote's refinery could work at full capacity for the whole year, it still would prefer to sell its product to international clients than Nigeria. Remember this is not a public/government owned refinery.

Lastly, let's even assume you're right and that single refinery along with the local options could cater to both Nigerians and international clients, WHY IS THE GOVERNMENT STILL SPENDING 1 BILLION MONTHLY ON PMS IMPORT? Either your data is incorrect or the government sabi pass you. Either way do more research man, you clearly don't understand the difference between capacity and actual output!

lovinhubby2wife:
In Nigeria, we consume 44 Million litres per day, Dangote's refinery at full capacity will output 55 Million litres per day.
So, what exactly would we need 2 additional refineries for? Except you want to come from the angle of excess supply to lower demand curve, thus leading to a downward price chart .

So you believe a refinery is supposed to work at 100% capacity and that a country like 9ja would use it all just to service Nigerians? Una funny on this site o

PHAYOL81:
Dangote refinery is at number 7 on overall capacity list but is the largest single train of such facilities in the whole wide world. And, as a thoughtful advantage, the facility is designed to accommodate expansion that can take the capacity to a million bpd.



YOUR submission is misinforming and outrightly inaccurate. Nigeria hardly consume up to 300 million litres everyday while the refinery is designed to output PMS at around 35% of a barrel of crude. Mathematically, there should be surplus for exportation on daily basis as a barrel is equivalent of 155 litres which can increase as far up as 170 litres after refined （considering the addition of chemicals substances at the refining process）. A massive refinery like that should take care all our petroleum needs and generate massive forex too by the time it operate at full capacity.

Nigerians consume about 60 million liters per day as of 2023, that's approximately 400,000 barrel of oil per day. If Dangote's refinery is only producing 600,000 barrels per day, what will it do with it's obligation to refine oil for international clients?

Even if efficiency was increased to 100% WHICH IS IMPOSSIBLE as the best refineries in the world only operate at 80 to 90% capacity). How much of that 600,000 barrels per day will go to Nigerians rather than international clients where more money is made?

Whether we like it or not, we need at least 3 of such refineries to reap full benefits! The U.S has over 130, U.K has at least 6 and South Korea at least 5.........What makes you think one refinery can service Nigeria's oblgations?

Omoawoke:
There’s zero excuse why Nigeria since 1960 should not have functioning refineries operating at full capacities and able meet local demands and even serve at least entire west Africa.
It is pure failure , Selfishness and wickedness of just a few people benefiting from this failure of a system

We're not talking about 1960 here, we are talking about now that Nigeria has a functioning refinery. Once you understand the role the West, OPEC & IMF plays in the situation, you'll understand that Nigeria will never ever stop importing refined oil!

Omoawoke:
This is just crazy..
Nigeria among the biggest oil producing country in the world and now has one of the largest refinaries in the world, yet fuel scarcity and high prices of fuel still our problem

Many of una know shin shin about economics, una just expect magic button wey go solve all problems. How much fuel is consumed monthly by Nigerians, now compare it to the maximum capacity of Dangote's refinery, you'll see that it would take at least 3 of such refineries to achieve the things you've listed above assuming they function at full capacity.

When it comes to brilliance there's no difference between tribes or religion, all Nigerians are capable of it....................Same way when it comes to behaving like werey, ausa o, Igbo o, Yoruba o, SS, SE, SW, NE, NW etc..........As long as you get 9ja blood in you.........You're one trigger away from kolomental

MT:
Probability does not work in court. Certainty does.

Most cases are ruined by the police themselves in the matter they do their investigation.

An average lawyer assigned to them pro bono should be able to litigate the case smartly.

Some many lacunas to explore are so visible in the case.

For 9ja or for Nollywood? Many innocent people dey serve prison term for simple cases not to talk of allegedly killing the daughter of a justice.......Just know that the defendants are already down 100 - 0 before the first hearing, I would be surprised if they are not sentenced to death.

Smartcitizen:
You are deceiving yourself.

You are removing subsidy and also spending foolishly to buy expensive SUV, jets and yatch from the money you made out of the removal.


Una still dey believe in that useless block head jagaban.

Who told you it was from the subsidy money? All the things you mentioned was budgeted and approved by the legislative branch. Subsidy money was not even factored in, remove subsidy or not they would still buy those things.....If na lie check the budget under Jonathan and Buhari, see how much was spent on renovations and new cars.

Make we no bobo ourselves, subsidy removal was always bound to happen, the only bad thing here is the way it was removed without a cushion!

Let us all admit it, Buhari na one very smart man......He knew if removal of subsidy happened under his watch, the country go scatter pata pata, he tried everything possible not to hand over to Tinubu as na only Tinubu fit do something so drastic and no look Uche face. He wanted Osibanjo someone that can easily be removed due to public outcry but alas here we are........

Theoretically what Tinubu has done will benefit Nigeria in the long run

Realistically many people go don kpai of hunger before that long run gets here


There are 3 types of leaders Nigeria should never have:

1) A professional without empathy
2) A dullard with too much empathy
3) A zombie wey no send una papa

Evaluate the past 15 years and see how each one falls into one of the three above.

MAY GOD HELP US ALL........................................................

Same fluoride that is in toothpaste......As with every study, they conveniently left out quantity and duration.


For example there was a study that said make we no chop egg say na cholesterol, now 15 years later they are saying eggs are healthy part of balanced nutrition when consumed in moderation.....Imagine going 15 years without eyin din din with pepper and sardines......No be juju be that? 😂😂

Mear23:
You are right, however, this is obtainable in an ideal society where people are held accountable for their actions.
In Nigeria where common interest is usually set aside for personal gain such may be too difficult to implement.

Both solutions will be difficult to implement without a serious government, Nigeria is blessed with laws, proper enforcement has always been our albatross!

Mear23:
Lagos state and Nigeria as a whole are not ready to stop this incessant building collapse.
Approval alone does not validate quality, after all the approving team are not part of supervision team and by virtue of their role, they might not be present on site all the time.
Experience has shown that many people have "big plan with small budget".

If you ask me, I will say one of the best way to prevent the menace of building collapse is by asking the prospective house owner to come along with their budgets (BoQ) duly prepared by a Certified Quantity Surveyor or any other recognised cost consultant.

No need for that, we can look at countries like the USA or UK where building codes are easily accessible. An inspector is required to certify that the building satisfies all the codes all the way down to the smallest ones. These inspectors are bonded by insurance and with each signature they are putting not only their livelihood at risk but their freedom as well.

Some inspectors have been jailed for bribery schemes and outright negligence, now the entire process is much more credible and collapsing building is a very rare occurrence.

Teenaira:
You are very right. Everybody in Kenya, the politicians, the elders, the middle class, small and medium business concerns, the youths are all regretting the unfortunate protest considering the level of death, injuries and destruction of personal, business and government assets. The aftermath of the protest is that nothing absolutely to show for these losses. Infact, the Kenya's protest is just a political activity hidden in a protest form and the result is that everyone is a loser.
The Nigeria situation might follow the same partner, politicians and their international collaborators sponsoring protest for their personal gains while the public is deceived into believing that the protest is to solve their problem.

Bullshit......I bet you have no family or friednds in Kenya, na reason why you dey spew jargon.......Stick to 9ja topics!

There you have it ladies & gentlemen.......The difference between Kenya & Nigeria..........We never ready

People keep shouting Tinubu built Lagos, how come he can't build Nigeria.......You people are funny! Tinubu built Lagos but his first term as Governor was hell on Earth for majority of Lagosians who couldn't see the log term plan. In the short term everybody collected wotowoto from civil servants to land owners.

In fact the vision did not fully materialize until Fashola was elected...............If Buhari's bad administration did not happen, Tinubu's policies might make sense but because of Buhari's shege, people no get time, energy to play the long game.....Saapa will kpai many people before things gets better, a hungry man is a very dangerous man!

triplechoice:
. You making too much noises and not making sense. What I meant by inflation not being bad was explained by me ,yet you have
gone ahead to reply with nonsense to confirm your inability to comprehend what's clearly explained for you in simple English language.

Are you even aware there's something called deflation which is the opposite of inflation? If you knew that, then you would have understood what I was driving at when I said inflation is not bad. The expression,"not bad" in the context I used it ,means it's something that naturally happens in every country where' economic activities are going on . In other words ,it is normal occurrence and so cannot be completely eliminated or stopped ,but only managed to keep it from rising too much. You can only manage it to keep it low ,but not to extent it results into deflation which is not also good for any country's economy.

Instead of you to focus on one thing by supporting your wild forecast about inflation with unambiguous facts and evidence from the past as it concerns your country , you're all over the place using another country having a different set circumstances to do so.

For instance, what's the sense in using America whose currency the, dollar, is more stable than the naira, to ask the silly question of why their minimum wage hasn't been increased for years . It hasn't been increased because their currency is very stable compared to yours.So no much need.

I will be wasting my time if I continue the conversation with you. You have been arguing from a position of stubborn ignorance . Your "clueless" name calling directed at me, is a projecting of yourself. You think that help will help you prove point? It won't.

Not only are you clueless but you are proudly ignorant.....LMAO......I live & work in the USA and have several investments in Nigeria.....Who's better to give you perspectives from both sides? I did not waste my time earning a Ph.D and working in a Fortune 100 company to listen to your junk analysis! Guy you're the typical Nigerian, your economy revolves around the USD yet you are asking to leave USD out of the discussion.....No be juju be that?

THERE IS NO CONTEXT THAT INFLATION IS CONSIDERED NOT BAD! LET ME REPEAT, THERE'S NO CONTEXT THAT INFLATION IS SEEN AS NOT BAD! It might be natural like you said but just like unemployment, it is an undesired economical indice!

You've tried really hard to shift the goal post but you're just sounding more clownish with each post, imagine thinking deflation is a good thing, do you even know what happens during deflation? Here's a hint, stagnation and unemployment., so you think the cure for inflation is to throw 9ja into more unemployment? MENT!

Bro..........GIVE IT UP MAN, I WILL NO LONGER RESPOND TO YOUR RAMBLING! I've educated you way more than you deserve......SAY THANKS!

triplechoice:
Your problem is comprehension. I didn't say illegalities is the cause of inflation but that spending money gotten from illegal means recklessly and consistently on goods and services is one of the factors that can result in inflation. If you cannot comprehend this simple explanation written in simple English,what else can you understand?

Besides I have also said there are other factors responsible for inflation unlike you who insist one only one thing, minimum wage. That's the only thing you know and have been blaming inflation on.


Name calling won't help you to prove your point. You're only projecting yourself by referring to me as clueless. I won't call you clueless but continue to inform you of the correct thing so you learn and stop the negative forecast about inflation.

Inflation is normal in any country where economic activities are going on. It's not a bad thing. [/b]Nobody can stop it. It can only be managed so it doesn't get out of hand and cause problem for the economy. [b]The 70k minimum wage which is to be paid to few workers in Nigeria won't result in too much money entering the system. What you have been doing is to use what's obtainable elsewhere where a significant number of workers earn minimum wage to forecast what will happen in Nigeria. That's very poor and it shows you're not thinking it at all.

The government that has agreed to pay 70k which is very far from what labour asked for, consulted with economic experts to know the amount to pay that won't cause problems for the economy. Maybe you think you know better than them with your halfbaked knowledge

E gba mi, calling you clueless is not an insult but a statement of FACT! This particular topic o, you're not well informed! Just look at the comedy you wrote highlighted above........I'll school you once again because I see the need to seriously correct your misguided assumptions. INFLATION is absolutely a bad thing and serious counties will always peg their inflation below a certain number. Dem no born any USA president well to seek reelection when inflation is above 5%, he no fit enter. Same goes for U.K, no prime minister can survive when inflation goes above 10%.

Moving on, why has the minimum wage in the USA remained $7.25 since 2009, how come they can't DOUBLE IT? I mean cost of living has increased over 60% since 2009 so why not? Because they're not crazy! In 1990, the minimum wage was $3.80, it took them 19 years to slowly increase it to less than 100% and they've not increased it for 15 years now. This is a country that witnessed multiple wars, recesssions and other calamities o, a country where the average house mortgage was less than 80k in 1990 and now the same average mortgage is over 300k.

If you still believe inflation is not a bad thing and that a sudden 120% increase in minimum wage won't increase inflation then you're simply a COMEDIAN......A very funny Baba Suwe!

triplechoice:
You have been reacting emotionally yet you say you have been talking facts. I don't have my personal reasons for inflation. It's because you're very ignorant of the other causes of inflation you're calling it my reason. I said inflation in any country is due to a combination of several factors and not minimum wage alone. Minimum wage is the only thing you know hence your senseless arguments.
. You seem to have forgotten how this all began or don't even understand the economic truth you quoted. I responded to your comment at first, because you said once minimum wage is increased it would lead to traders multiplying the prices of their goods and services and the reason you gave for that is too much money entering the system to chase few goods in the market .I disagreed and said it's only marginal that we experienced at first during Buhari and Jonathan's time and any other increase was due to other factors.That's what I said. The reason Nigerian situation is different is because minimum wage is only paid to about less than 5% of the workforce unlike in other countries where more than 60,%0 receives it. It's because you're ignorant of this fact about minimum wage in Nigeria you and your likes have been arguing blindly that paying 70k minimum wage will result to too much money entering the system. The 70k that was announced is even worth less than the 30k that Buhari approved. It's less than ,,$ 50 . How much can that get you from the market if you want to spend it? You're not thinking this at all. Then it's a shame you don't know what economics is. It's human science in case you have forgotten what you were taught in secondary school. Economics truth are arrived at through the study of human behavior.. This is vague irrelevant nonsense that doesn't answer why goods and services must multiply immediately in Nigeria, according to you, once minimum wage is increased. I need support for your minimum wage speculations. You said once workers start receiving minimum wage it would lead to traders multiplying their prices immediately.So tell us, how much was a litre of fuel , a bag of rice before Buhari signed the 30k minimum wage and the prices two to three months
after . That's the only thing that can prove what you're saying. Anything other than that will not be accepted because inflation is not caused by one thing. You also don't even know that the price of petrol in Nigeria is regulated by the NNPC. SMH.
You didn't get highlight anything reasonable. What you have up there is a product of superficial thinking.
. I never said if it didn't effect prices immediately it's okay. I'm saying minimum wage increase is not the only cause of inflation. You said it's, but cannot prove it. If you insist it's, then tell me why is bread now selling for about 2k? Is it still due to the 30 k Buhari approved years ago. What of fuel? Is it because of the 30k minimum wage? Rice and beans nko?
You're the one clowing yourself with your display of ignorance about something you're not too well informed in.

Go and get yourself properly educated on all of the causes of inflation.

Find out the percentage of workers to receive minimum wage in Nigeria and compare it with other countries and then come back to continue the discussion.
I can see that you're very ignorant of so many things .

Again I will not argue with you because you're obviously clueless.....I've attached your initial response to me where you clearly highlighted illegalities as the influencing factor even tho countries like USA and UK experienced increase in inflation and illegalities is very limited in their societies.....Your own words betray you so WHO AM I TO ARGUE? SHALOM!

osigiepurr:
American politics is unpredictable. The choice of selection belongs to the Americans and not mere social media analysis. That’s the more reason America politicians fights till the last minute to determine who will be the winner. Trump never believed Joe Biden would ever won an incumbent president during his time. Harris is an intelligent young and vibrant lady who can dig it out with Trump. No capping.

In Nigeria setting, reverse is absolutely the case because Nigerians knows who the winner will be even before the election campaigns…

Yinmu.....I live in America and I have voted for Trump & Biden, if only you knew how much more unpopular Kamala is compared to Biden. Trump will win in a landslide because the only thing America hates more than a female president is a female president who is also BLACK

osigiepurr:
Stop saying what you don’t know. He has already endorsed Vice President Kamala Harris to replace him atop the Democratic ticket. Go and verify.

That means nothing if the rest of the party wants someone else............The easier choice will be Kamala but whether she can defeat Trump is another thing entirely.

triplechoice:
Yes. Textbook definition which I said is not incorrect ,is why you far removed from reality and fantasizing about what will happen with the new minimum wage.

FYI, Economics theory and principles are imprecise and doesn't always apply in real life because economics is human science not natural sciences that's very exact . It's not easy to predict human behavior. So my friend, you don't know the truth about what you think you know.

Using events that transpired in another country with a different set of circumstances and people to interpret the unique Nigerian situation is enough reason for me to discontinue the discussion with you. It shows you're not thinking it very well but just regurgitating what you Googled somewhere online.

The data you presented captured what happened over a long period time, (years and not months) yet you want the public to believe your lies that in the coming months once the government starts paying the new minimum wage, prices of goods and services prices will automatically "multiply". When Buhari increased minimum wage to 30k in March 2019 a loaf of bread sold for 300 still retained its price till December of that same year. It was the same for fuel which the government regulates. So what are you talking about?

I repeat, you have a mono - causal explanation for inflation, minimum wage, and you just further confirmed it with your latest reply.

Good day.

Modified. 70 k minimum wage increase is nothing. You think it's enough
to cause inflation because you're blinded by its nominal value. What can it get you in the market these days as compared to before ? Nothing much.

Again I will not argue sentiments but facts, you stated your reasons that caused inflation and I provided you with the actual causes and provided examples of countries where illegalities does not exist and yet inflation rose. Whether you believe it or not is your own business!

You want to argue with bullshit sentiments that Nigeria is different hence we should ignore all economic rationale, isn't that comedic and plain ignorant? You said it is not easy to predict human behavior but we are talking about economics here not just human behavior, a country that produces shin shin, relies on 90% imports and allows trillions to be printed and embezzled will not only suffer in the long run but also have real dire short term consequences.


Read what I highlighted above and realize just how dangerous your mentality sounds!

Finally you said, "when Buhari increased minimum wage to 30k in March 2019 a loaf of bread sold for 300 still retained its price till December of that same year.", What was the price of bread the following year? Over 40% increase.....So your rationale is that as long as it does not affect prices immediately, it is okay? Even your 300 Naira price is false as price of bread increased to over 400 Naira as of September 2019 in most places outside of Lagos. I don't know what twisted rationale you're playing but guy STOP IT ALREADY

Do you even realize how clownish you sound? If country go spoil as long as e no spoil immediately it is okay........You're funny

DrManHattan1:
sir pls i want to be ur boy. I really need successful people like you in my life

Boy ke, you wey be doctor......Successful people plenty for Nairaland o, half the things I know now about investing came from Nairaland!

[quote author=DrManHattan1 post=131060874][/quote]I make more than that in a year, if no be bills and taxes for obodo America, I for don become Naira billionaire

triplechoice:
No.
It's not completely true that inflation is caused by excess money in circulation. The correct thing to say, is that it's caused by excess money in circulation gotten from illegal means spent recklessly and consistently on goods and services to push their prices up . Most people who earn their money legitimately would hardly spend it anyhow. So I don't expect Nigerian workers who are going through pain and suffering during this period to be so foolish to go on a sending spree once they start earning the new minimum wage in the coming months .

The data you presented shows you have a mono - causal explanation for inflation. It's not
good enough to convince me or anyone else who's well informed about all the other factors which usually combine to cause inflation at any given time For instance , the cost of petrol recently went
up from 220 a litre to about 600 to 750. What's the cause? Minimum wage or government policy

Except you're saying that during those period ,other factors which can also contribute to inflation took a break to allow for minimum wage increase to do havoc, you haven't presented any reasonable argument.

Or is it that if minimum wage wasn't increased, prices of goods and services would have remained stable from those years to now?



I'm not saying there won't be an increase in the prices of some goods and services after minimum wage,but it only will be marginal like before, and not enough to cause hyperinflation.

FYI, minimum wage increase also has its benefits. It would help to stimulate the Nigerian economy that's almost going comatose . Businesses are already folding up everywhere or have reduced production due to low patronage . No money in the hands of their regular customers to buy from them as before. So, how do you expect them to stay in business and continue to produce with the current high cost of production in the country?

BTW how many business owners pay the exact minimum wage in Nigeria? Only a few. If not for wickedness, why should business owners in Nigeria who are exempted from law to pay it want to increase the price of the goods and services they offer to the public immediately after

Do you want to hear the truth or do you want to continue rambling? I've given you the textbook definition of what causes inflation and adapted it to the Nigerian scenario, I live in a country where the rubbish you wrote about illegality does not exist and yet inflation doubled 2 to 3 years ago to the point they had to drastically reduce the money in circulation by raising interest rates and removing some government benefits.
I'm not going to go back and forth with you arguing nonsenstical what ifs and whatabouts! I've provided you the definition, agree or disagree that's your business not mine.....PEACE!

triplechoice:
Not true that prices of goods and services will multiply everywhere. This not the first time minimum wage has been increased in Nigeria and each in the past,it was only marginal increase in some goods and services that resulted from it.

If you disagree with what I just explained then provided data from the past in support of your wild speculations about what you expect to happen.

Inflation is caused by a combination of factors, not minimum wage alone.

Inflation is primarily caused by excess money in circulation leading to high level demand with low level of supply. country like Nigeria that relies on 90% imported goods is fighting against multiple types of inflation. The more we import the weaker the Naira gets and that leads to astronomical prices of goods and services.

Your statement above is wrong and the evidence is simple:

In 2011, minimum wage went from 5,500 to 18,000, cost of building supplies, petrol and other imported products rose between 20 to 40%. In 2019, minimum wage went from 18,000 to 30,0000 and we witnessed even worse inflation, from 50% to as much as 200%. I know this because I built my first house in 2017 costing less than 80 million Naira and in 2021 when I wanted to build my second house with the same style and materials, the total cost was over 150 million.

Now we want to go from 30,000 to 70,000 and we expect just a marginal increase in goods and services.....NO BE JUJU BE THAT?

Krankhead:
You still.spreafing fake news
I'm telling you is nobody is spreading this fake news the way u are doing with Arise TV. Most of you would have gone to jail for spreading fake news , harrasing people and wishing people who are different opinions from your death. Threats is a criminal offence in America

Mumu.....Did you see the link or not? Na you go tell me about American justice system, when dem give you visa sef