₦airaland Forum

They should borrow from IMF nah, haba

I dont think that isobath thing worked out, due to protest , House gave 13% of everything to ND

obaaderemi:
Naira and any other currency can be converted into these foreign currencies.i agree with u that oil is essential to nigerias economy but fact remains that our non oil economy is larger than our oil economy.check our gdp.real estate.manufacturing,commodities,telecom,etc giver us about 90%.if oil dries 2day,nigeria will survive though with a lot of hard adjustment.but the niger delta will be left with nothing.thats the point we are telling you.

Read this

http://www.premiumtimesng.com/news/more-news/210349-dependence-oil-responsible-economy-recession-lai-mohammed.html

obaaderemi:
Naira and any other currency can be converted into these foreign currencies.i agree with u that oil is essential to nigerias economy but fact remains that our non oil economy is larger than our oil economy.check our gdp.real estate.manufacturing,commodities,telecom,etc giver us about 90%.if oil dries 2day,nigeria will survive though with a lot of hard adjustment.but the niger delta will be left with nothing.thats the point we are telling you.

14% of our Economy quite alright is the Oil and Gas sector. Consumer spending is 70% of our GDP. Nigeria's consumer index is 0.8, meaning our consumer spending is 80% exposed to importation since we are an import dependent Economy. Since Oil and Gas is virtually(96%) our source of Foreign Exchange exports dollars and as I said as it's the dollars U earn from export, U can use to import. 70% of our total GDP is very highly exposed to Oil and Gas exports since those exports that finances our Consumer spending. As I said this is Macroeconomics, Electricity is the most important input in Manufacturing and Local Production, Gas provides 75% of our entire Electricity output and it's growing since We are blessed with 182trn cu feet of gas.Major Industrial Complex receive Gas from ND to generate their own electricity for their plants. Household depends on gas power plants for 70% of our electricity. U can see that Nigeria is exposed to oil and gas for about 14+ 0.8x70= 70% of GDP.

obaaderemi:
Let them continue with the bombing.one thing u dont know is that their environment and society will continue to suffer aftershocks for decades to come.whats the future of their kids and youths?osun gets almost nothing but we are living.that tells u that oil money is overrated.let them continue instead of calling their elected officials to accountability

Living on what? See as far as Ur a Nigerian earning and spending Naira, U are benefitting from Oil. Thats what U don't get. CBN uses foreign reserves to defend the value of Naira, Foreign reserves consists of entirely Oil and Gas Exports proceeds. This is Macroeconomics, I know ND is suffering from pollution but without Oil, ND is as good as Kogi state, what dollar revenue do Kogi bring in? In this modern world, Capital is King and Dollars, Euros, Pounds and Yen is Capital, nobody cares about anything else.

obaaderemi:
Let them continue the bombing then.you are one of their enemies and you are not making much sense.for ur info,oil contributes just 11% of nigeria,s gdp and that is about to reduce.continve while ur politicians continue to eat ur future.

Crude Oil and Gas exports provide 96% of our export revenue. Gas generates 70% of our electricity output. Oil exports by far is the major provider of Liquidity( Forex) in our Economy. Majority of Foreign Investment into our Economy is in the Oil and Gas sector. Nigeria is an import dependent Economy, so virtually majority of the goods are imported(Electronics, Food, Cars, Fuel, Clothes, Pharmaceuticals, most raw material inputs for local manufacturing, textiles, Books etc). It's the Dollars we earn from Oil exports that largely finances this imports, (ECONS 101) ESP for a developing country like ours. Its the Oil exports dollars that gives Naira it's Consuming power, the ability to consume foreign goods just like my Korean Phone or Japanese Cars. It's embedded in the economy in such a way the Nigerian commoner wouldnt see it. Y do U think as Oil price crash, Naira started crashing too. The ability to buy your phone or watch in Naira which is manufactured abroad is a function of the dollars we earn from Oil. Ur standard of living is a function of Oil exports. Foreign reserve is virtually Oil export dollars that haven't yet been spent on imports. And as I said it will remain like that for a while because it's takes many painstaking years to diversify, Rome isn't built in a day . Agriculture is not good enough because it's still a raw material commodity business just like oil thats easily prone to Sanctions, Pest Attack, Drought, but it help a long way in reducing our imports of food and prop up our exports revenue

The problem is with pipeline vandalism, if oil was in full production, with Naira allowed to float. Nigerian oil companies won't have to sack so much

davidif:
First of all, Abuja is a city. The Niger Delta is an entire region. Big difference.

Secondly, the administration of the F.C.T did wonders with the city of Abuja. Why can't any city administrator or local govt chairman do the same with with at least one city in the Niger Delta region?

Thirdly, you still have not answered my initial question? Why aren't you holding your local and state govt officials accountable for embezzling the allocation they get.

U made a wrong statement here, Abuja was built by the Oil profit dollars from the South South, where did Nigeria got the dollars to build the city, nothing like FCT Admin, the FCT Admin got the money from Oil exports, they even borrowed money using future oil exports as guarantee. Pls get your facts together pls

majekdom2:
Oil license are issued by FG, you buy a piece of land from an individual in most cases. Get intelligence at all cost, it will help you.

U ensure a chunk of the profits go to the Ancestral owners of the Land, to keep them calm, since they might be facing hazards like pollution and gas flaring

davidif:
Bros, you do know that more than half of Nigeria's oil production is waaaay offshore right? In fact, onshore production has really plummeted. Some oil companies have sold some of there land holdings and are going deep into the sea.

Nigeria make far less profit from offshore oil than onshore oil because of the different Profit sharing formula with IOCs and cost of FPSOs, the cost of oil production offshore is far higher onshore oil ( more than twice). And again the offshore is owned by ND inside Nigeria because if any pollution occurs they suffer the consequences. They have lived there for over 500 years, traded with the Portuguese and British,

obaaderemi:
Unfortunately,it doesnt work that way in underdeveloped countries.look at the 13% for example.the governors steal it and the pple,the real owners suffer.let the Ndelta politicians also be held accountable

Who are U to say NDelta politicians steal money? Is it your business, I am asking U, what have U contributed to the Economy? Common foodstuff, they can't produce, Nigeria still spends $22bn annually on food imports, those imports are largely financed by Oil Dollars

SuperS1Panther:
Multiply that by 30days.

Just export 1m tonnes of Cocoa in a year then we can talk. Ivory Coast does 1.8m, Ghana does 1m

SuperS1Panther:
Nigeria still exported 1.64million barrel per day for 30days last month.

Deal with it.

1.508

obailala:
It is not my duty to help you use your own brain and wisdom. All I can do is to help you think, regarding the question I asked earlier, those youths who vandalised shoprite warri, does that help or damage the economy of the city? ... Just FYI in case you aren't aware, shoprite isn't an oil company, they are just foreign investors.

Why can't Ur people give us @ least 1 million Tonnes of Cocoa in a year, these guys were giving us 2m barrels of sweet Crude oil a day baba. Sweet Light Crude Oil, thats what Nigeria survives on. It's the dollars U earn from Exports, U can use to import. Majority those consumer goods we imports are bought by Petrodollars. Vandalism happens everywhere, even in Lagos pipelines. How about Boko Haram massacring people? How about Fulani Herdsmen? How about Armed Robbers? Even riots in Jos Kaduna, Kidnapping in south East.

SuperS1Panther:
Every resources under the ground, in the air or sea belongs to FG according to the Nigerian Constitution and as at the last time I checked, it has not been amended.

Deal with it.

What was your corrupt Mandela of Otuoke looking at for over 5years that he could not change the constitution. If we call him Clueless now, you will be getting angry over the truth.

Go and collect the Oil

majekdom2:
Education is key. Father's ancestral land indeed. Well the good news is at the moment, Nigeria is still Nigeria.

Nothing like Education here, it's all about Foreign Exchange, it's all about Dollars, he who brings the dollars should dictate the tune

majekdom2:
Cocoa is a produce, Oil is a natural resource and according to the law, it belongs to the FG and that's why you see dude you can only say all these trash online.

Nigerians are Funny, how wetin dey inside my Well concern U? Who even wrote the constitution? Y don't u use your sense please be Logical for a minute, U should be ashamed. Don't worry come and collect the oil since it's your own, U find oil in my father's ancestral land since 1400 and U said it's FG's, so if oil spills it will flow and enter Ekiti

ojinuocheibi:
you can never be stronger than Nigeria. Biaaaaatch.SOMEONE PLANTED THE COCOA BUT NP BODY PLANTED THE OIL SO YOU DONT OWN ANY OIL GET THAT INTO YOUR EMPTY SLULL

U are Jealous, if ND was a republic, who will own the oil?

majekdom2:
Tell me, in your own thoughts, what do you think can be done to fix the economy. What other structures do they want? I am not in for the resource control mantra.

What they are saying is for U to go back to your village and go and plant your Cocoa, and get your own export dollars, paying some as tax to the FG, Let the People that owns the Oil do the same

davidif:
First of all, Abuja is a city. The Niger Delta is an entire region. Big difference.

Secondly, the administration of the F.C.T did wonders with the city of Abuja. Why can't any city administrator or local govt chairman do the same with with at least one city in the Niger Delta region?

Thirdly, you still have not answered my initial question? Why aren't you holding your local and state govt officials accountable for embezzling the allocation they get.

The same FG that has developed the skill in collecting oil dollar profits gotten from ND, should know how to spend the dollars there.

majekdom2:
Oil license are issued by FG, you buy a piece of land from an individual in most cases. Get intelligence at all cost, it will help you.

Whose Land did FG give them? Is it your Land?

davidif:
First of all, Abuja is a city. The Niger Delta is an entire region. Big difference.

Secondly, the administration of the F.C.T did wonders with the city of Abuja. Why can't any city administrator or local govt chairman do the same with with at least one city in the Niger Delta region?

Thirdly, you still have not answered my initial question? Why aren't you holding your local and state govt officials accountable for embezzling the allocation they get.

Who are U ask about how ND spent their own Money? In fact what did U do with the remaining 87%, ND provides 97% of Nigeria's foreign reserves,. Niger Delta produces 96% of our export revenue, U actually don't understamd that statement @ all. Obasanjo used ND oil money to pay Nigeria's External Debt of 16bn dollars, the money came virtually from Oil. Please keep quiet, U have no clue. U have no right to ask ND what she did with her money, what did U do with what she gave U? What have U even produced for the economy? Ordinary Cocoa U can't optimise it, Nigeria does 250k tonnes, Ivory Coast does 1.8m tonnes, Nigeria in history has neva earned up to 1.5 billion dollars in a year from Cocoa exports, ND produced $99bn of oil and gas exports in 2013 alone. She made 77bn in 2014. Until you make $5bn annually from Cocoa, U can open your mouth and talk. When did she even start collecting all these money, she fought for every single bit of this Income source, it wasnt free although it all came from her soil

majekdom2:
Crap. The people that buy land from omo onile are the greedy one themselves. Does selling land to 3 different people by omo onile justify crime? You sense of reasoning is appalling.

Oil companies paying all the money to FG without insisting on the derivation for the ND people, which they had to agitate for themselves are like those WHO BUY LAND FROM OMONILES

davidif:
Dude, that's like saying because everyone around me is cheating and stealing that means that means my crimes are not that bad. Its all the same. What i am saying is that with the money the Niger Delta is getting there has been hardly any improvements so why all the clamor for more money? Do you trust the same leaders who embezzled the little they were getting to be faithful with much?

Also, you have still not answered my initial question? Why are you still not holding your local and state leaders accountable?

Is it not the same Nigeria that Abuja was transformed from a Village to 2nd largest city built with Oil Dollars, do that same Magic to Niger Delta

obailala:
A lot of people who have never stepped foot in a place like Warri obviously do not get the message the writer is passing across. The point being made is that if agitations must be done, there are smarter ways to agitate without blowing your own feet off. This case isn't all about oil because not only oil companies are caught in this mess. Just mid last year, Shoprite which has opened numerous branches in different parts of Nigeria launched a new branch in Warri. After the whole funfair and all, just in a matter of months, the services of shoprite warri were disrupted, the place was vandalised and looted by the same rampaging youths and these are the exact acts many oblivious folks rush online to ddefend and glorify because they think everything is about oil and everything is about hausa or what not. The point here is simple, the social problem goes way beyond oil.

Who started the rampaging 1st? Isnt it the Govt, which was collecting all the Oil profits, until 1999, that they fought for their 13% derivation, for 30 years straight, no derivation, do U even think the ND stakeholders has any say in the allocation of Oil assets, were they even on the negotiating table? Baba pack well, U get what U sow Folks

majekdom2:
omo onile will not blow up a company because he knows that's where his choppings is coming from. He is wise about his business. This is the difference.

E be like say U no sabi Omonile, people that sell a piece of land to like 3 differnet people, they are ready for any trouble

SuperS1Panther:
Ironsi took the resource control away in 1966.

How about that.

Lolz, he only ruled for 6 months out of 33 years, so U are telling out of the 32.5 years, nobody had common sense to do what's right, even Buhari which ruled for 3 years out of it.

AntiIPOB:
The writer already give reason for the high level of poverty in the entire niger delta region,not only warri,he said you guys are lazy,which is true
You think militancy pay abi,continue if you the man in aso rock is from the niger delta,think again,he don't wear hat.
Very soon you will meet your bullet.

I pity U, the problem is that U have no clue about the Macroeconomic Role Oil and Gas plays in Nigeria. See how it plays now, Niger delta is the only productive area in the Nigerian Economy, the rest of Nigeria exports just 4% of the entire Export volume, ND exports 96%, infact Niger Delta is the most productive region in Africa after Libya Oil field which is riddled by terrorist, it's even more productive than South Africa's Gold mines. Lagos is just the Consumer Capital of Nigeria, where majority of Nigeria's middle to Upper Class reside plus the seaports since we are an import-dependent economy. What does Lagos export, the industries in Lagos produces what Nigerians consume not foreigners, no dollar revenue comes in through Lagos. U have absolute no Idea, U have no idea, stop this crap about diversificatoon, I know it's coming but right now, Niger Delta is King , do U know how many years it will take to diversify. U don't know how lucky U are to have Niger Delta in your country, y is South Sudan and Sudan fighting?

FG would have avoided all these mess by giving full resource control from the very beginning, No, they were very busy, controlling from the centre, sharing oil blocks to themselves, to the extent an Oil block producing 250,000 barrels a day( more than Gabon total production) pushed an ordinary Fashion Designer to the Richest Black Woman on Earth. No there's fire on the Mountain, they have retorted to plan B,

antispexish:
and what is the end result.
are the girls getting better offer now cus Ijaw man was president
have the girls stopped ashawo work and now work in offices cus of your agitations?
give them resource control and things will still remain the same, the 13% and NNDC is enough evidence of what will happen if more money or resources are giving.
The only result of militancy is billions getting into the hand of a few while the community suffers!

Give them resource control, things might remain the same for them, but the rest of Nigeria, it will never remain the same

AntiIPOB:
See reasoning abeg!
So jonathan became president because of the militancy in the niger delta?
Ok,let us see how it work this time.oh God,what king of brain did you insert in this guy skull?
Just as the write said,lie down on your bed,keep singing God will make your way by don moen,federal government will soon send your salary via crocodile smile,lazy fool.
So,the saudis,quatar,israel,omar,arab emirate etc,all this countries don't work again because they have natural resources ?
Nonesense!

What an irony? The very weapons, army is using to fight NDA was bought by the petrodollars gotten from NDA territory

Nigeria is very deeply addicted to petrocaine, take it away from her, She will crying like a witch caught red handed