₦airaland Forum

thesicilian:
Speaking of the living as if he's already dead is a no no for me.

gadgetplanetng:
NUPRC was also working to cut the cost of oil production to about $20 a barrel, down from between $25 and $40, by providing incentives to oil producers.
https://www.reuters.com/world/africa/nigeria-aims-raise-oil-condensates-output-26-mln-bpd-by-2026-2024-01-01/#:~:text=Two%20of%20three%20consultancies%20tasked,providing%20incentives%20to%20oil%20producers.

How much is a barrel internationally?
We sell as between 2x and 3x production cost.
I don't post carelessly.

Neither do I! As clearly seen from the chart in the link below, Nigeria is amongst the highest!

Mind you, this is Unit Production cost otherwise called unit operating cost (UOC). Basically how much opex you spend per barrel.

There is also something called unit Development Cost (UDC), which is how much Capex you spend per barrel.

The two of them added together becomes unit Technical cost (UTC)!

UDC is relevant depending on which cycle your oil fields are. if you are a country where the capex was spent 30years ago, then UDC is less relevant.

But if you are a country experiencing significant decline from existing fields and you need to drill lots of wells to replenish and maintain production, no to even talk of increasing it, then UDC becomes very important - even if its not talked about a lot. And Nigeria falls in this category. We have offshore oil fields that 5 years ago were doing 180k barrels per day that have dropped to 100k barrels a day today.

https://peakoil.com/production/heres-how-much-it-costs-both-saudi-arabia-and-the-us-to-produce-oil#:~:text=According%20to%20data%20from%20energy%20industry%20consultant%20Rystad,as%20well%2C%20which%20is%20well%20below%20rival%20nations%3A

gadgetplanetng:
If the sell the crude oil to the refinery at a cost plus basis, we would have affordable fuel.

International prices do not take costs into consideration which is why some oil producers, especially the shale and co stop producing below a certain level.

Nigerian crude is cheap to produce.

Enemyofpeace:
they are planning to sell all the airports in Nigeria

Lordswat:
HONESTLY, MULTICHOICE NEED TO BE DEALT WITH, BECAUSE THE WAY THEY KEEPS INCREASING THEIR SUBSCRIPTIONS IS SO WRONG, HOW CAN THEY INCREASE TARIFF 3 TIMES WITHIN ONE YEAR, CAN SUCH A THING HAPPEN IN SOUTH AFRICA? NIGERIA HAS FAILED US WOEFULLY

Richtaiwo:
I thought gas flaring has stopped. Why the flaring? Can't it be converted to a useful purpose? I understand gas flaring produces excessive carbon monoxide (CO) which destroys ozone layer leading to global warming.

oyeb15:
What about d qualified but unemployed. These people prefers projects they can use to steal billions of naira than improving d lives of d general public.

My agenda as governor.

1. Clear outstanding gratuities and pensions
2. Retire those who are due or remaining less than 5years across all parastatals.
3 Employ fresh 30, 000 people into d state labor force.
4. Partner with Norway, setting up an electric vehicle, bike plant in the three senatorial district.
5. Invest in generating state indigenous electricity and disconnection from national grid.
6. Pay unemployed youths stepends.
7. Repair damaged roads and request permanent military checkpoints on hot spots.
8. Regular training for all security agents posted to my state on how to relate well with my people. Complain lines will be set up at d state ministry of justice and Ering officers will be persecuted and dismissed.
9. Abolish all police, frsc,Vio etc checkpoints throughout my state.
10. Traditional kingship stool will cease to be mainly appointment . Once there is no consensus within d ruling family, qualified candidates will face election within d community.
11. Public officials above level 10, political appointees must have their children school in d state public schools.
12. Health insurance for all indegenes.You only have to pay 40%.

robosky02:
AFCON 2023: Onuachu replaces injured Sadiq in Nigeria’s squad




https://dailypost.ng/2024/01/12/afcon-2023-onuachu-replaces-injured-sadiq-in-nigerias-squad/

englishmart:
The reason the president can't hold thieves in other parastatals accountable is that he's a bigger thief and most of the leaders of those parastatals have damning evidence on him.
See how much customs generate, yet we borrow to fund budgets.
Do you have any idea how much the police force extorts, and in some cases forcefully obtains from civilians?
That should be enough to find a decade budget.
Do you know how much Tinuhu paid Chicago State University to enshroud his certificate fraud?

ppogba:
So, you have concluded that we don't insure cars in Nigeria.

I have said it before. It seems people normally leave their brain behind at MMA on their way out of the country.

Whalis:
I always try to do away with this but it always builds up again.
I may not be the only one struggling with this.
Although sometimes it has come to help when I suddenly run out of soap.

Loooooooogstory:
Salary 13k
primary school teacher

Qualification BA
5years experience in diverse sectors.
The pay is ridiculously low but what can I do? No one will dash you ordinary 6k talkless of 13k.
I am praying God provides a miracle. The kids are fun but when I get home, depression holds strong on me

kolamilan:
I pity those BDC Abokis who make daily transfers.

Victimoftribali:
Zenith and access bank charge me even for 1k transactions, how do we reconcile that?

Ladiesdoctor:
I wonder why Nigeria govt has not make a strong decision to bring this multichoice to it's knee.
The monopoly is really taking toll on it's subscribers.
Believe me, if to say multichoice is own by a Nigerian in South Africa, the xenophobic people would have done something strange to it.

How I wish Orji Uzor Kalu is the NFF Chairman!

Anyway, Nigeria is a good country with good people.

God bless Nigeria

mamaafrik:
If Dapo Abiodun is a smart man he is supposed to drag that line from agbado to Abeokuta(linking ilaro and sagamu through the purple and orange line).

dre11:
https://punchng.com/where-are-they-five-most-powerful-persons-of-the-buhari-era/?amp

Bestmanfornow:
Ongoing First Smart City in Southeast Awka Millennium City (AMC), the subscribers of the city has started erecting buildings after the completion of access roads, drainage channels, walkways, fiber optic, central water storage, Power sub-station etc, AMC comes with low density residential area, medium and high density residential area, The entire development sits is approximately 100 hectares of Land. AMC is been develop by M-P Infrastructure Ltd, AMC is a Premium multi-nucleic real estate development that is slated to redefine the concept of urban living within Awka, Anambra state.

WATCH the full video both ground and aerial coverage

https://www.youtube.com/watch?v=mBoTaPt_9c4?si=zncoxvaJJev_Brva

mrvitalis:
The problem is Nigerians believe infrastructure drives economic growth

This is the foundation of the problem... Remember Obi vs Osibanjo debate 2019

APC is a firm believer in this theory just like awolowo

Build rail way, build roads, economic development and growth would happen... Yes it's seems like the most obvious answer right


Now let's me ask you this... If I go to your village, fix all their roads, build standard schools, health care center, given them 24 house electricity.... What exactly would that change... Please answer me

Would yout people be richer? Have better economic standing? Is yes by how much

Klass99:
Lol 🤣. I enjoyed reading this. Was it the xenophobic retaliation attacks that led to mass looting at Osapa Jakande? I thought it was the end SARS protests and toll gate shootings that caused that.

TopNotchTrends:
https://www.instagram.com/p/C12eYkYNBpn/?igsh=MzRlODBiNWFlZA==


Portable has purchased a new Mercedes Benz and he shared it on his Instagram page.

Portable who crashed the vehicle given to him by unique motors has previously dragged them for not providing him a new one. He has now purchased a Mercedes Benz.

Share your thoughts.

https://www.youtube.com/watch?v=fYWxSGwG3uQ?si=zraezS4ihfN09TW7

U09ce:
I was told that the only viable discos are Eko and Ikeja. Even Abuja disco is struggling - due to the neighboring franchise states (Niger, Kogi and Nassarawa). The privatisation of PHCN was ill thought and badly implemented. The power sector is unlike telecommunications where strong competition entrenched fairer prices. The value chain for power sector is longer--the gas supply part of it is dollar dependent. Thus, it's prone to several vagaries.
The minimum wage for workers is currently a measly 30k. The average take home of Nigerian families is probably less than 50k monthly. A KWh of electricity is now at least 60 Naira. A modest house spends up to 20k per month for 15 hours of electricity. How do you expect such a family living in penury to pay the power costs?
The government needs to get a viable solution to this mess

mrvitalis:
It's not I'm not even close

But I can say I'm better than everyone in tinubu economics team

They are all bunch of Awolowo like socialists all of them

APC is a socialists partb

mrvitalis:
Lmaooo bros read what you posted again

You want to school me? Socialists like you Lmaooo

The main aspect of reducing money in circulation is by increasing interest rate, bond and treasury bill

Limiting cash is lesser extent

Let's asume you are right by saying CBN reduced cash to reduce money in circulation

With our very low interest rate compare to inflation, low intrest in bonds and treasury bills is that not counter productive?

This is basic economics oga

mrvitalis:
Bro when they say money in circulation they don't mean physical cash... Sir , na w

They mean disposable income and you done reduce cash by reducing physical cash you do that by

Increasing interest rate above inflation rate
Offering bonds and treasury bills with good interest

It's a way of making people keep their money in the bank or locked up for longer period to reduce their purchasing power


Again who taught you economics

mrvitalis:
[b]
[b]
What exactly are you even talked about

I'm explanation was simple yet you messed the whole thing up and mixed the point


Naira as lost value, to buy same goods u need more naira, since most transactions occurs with physical cash there would be demand for more n more naira note

CBN can't print more note to keep up because we are broke

Increased demand, little increase is supply = scarcity... Basic economics

What on earth is difficult to get here

TheFacelessMan:
The tiered system is an excellent one... but I am not sure Nigeria is ripe for it yet.

People will seek ways to bypass or tamper with meters to fall into lower tiers.

What I think needs to be done is ensure EVERYONE utilising electricity pays. When incomes rise, then you can start thinking of tiering.

See, it is an open secret that some just blatantly refuse to pay despite enjoying light. Let's get them to stay paying for it and revenues will rise.

mrvitalis:
I ask is economics taught everyone in Nigeria till SS3 the way it's done in SS/SE states
Because some things people say shows they lack basic economics knowledge at all


Naira has lost value about 100% value in the last 1 year

So demand for naira would grow by 100% since price of most goods have gone up

If u needed 10000 to go to market ro shop for weekend now u need 20000

Since most transactions still happens via cash
There would be more demand for cash

And I'm sure CBN has not increased cash in circulation by 100% ( because we are too broke to print that amount)

So that's explains the scarcity... This is basic economics