₦airaland Forum

I'm saying that Shamsideen Usman should be sure that he's not mistaking the Federation account (about $8 billion) for the foreign reserves. If he is, he should not be allowed to become a minister and he should also not be allowed to continue in the CBN.

Some people dull die. Why should patriots see what is bad and try to paint it good.

That is even totally against the principles of patriotism.

The Nigerian Police is very bad. Only a madwoman or madman will want to hear people patronise what is bad.

This is weird. In as much as I support corporeal punishment and fines over jail term, where is it in the constitution that people should be flogged by Magistrate Courts?

This Judge should be fined not less than N150,000 which sum of money should be given to the defendant. She should also be sacked from the Judiciary. This is crazy! I can understand that it is annoying for somebody to be stealing in a church but if even OBJ was not allowed to bend the constitution, why should a Magistrate Judge do it?

Na wah O! If this man is right, then Soludo should go to jail or lose his job. You can't lie about a countries money to its citizens. This has to be a treasonable offence.

But I hardly believe this declaration by Usman. The foreign reserves are set aside for imports mainly. Nigeria imports about 80% of all goods consumed so if we had $8 billion foreign reserves, we couldn't import fuel, all the IPPs can't import parts, technology companies can't import equipment.

There are 2 different things. Federation account (which was $12 billion) and Foreign Reserves (which was about $45 billion). Maybe the Federation Account depleted from $12 billion to $8 billion. If Usman doesn't know the difference, then he should not be allowed to become a Minister.

If he is right however, then people have to go to jail. He should also explain why he waited till when a Ministerial job came before he decided to be a good citizens.

@angel101

No mind me jare. I was mistranslating the 80% shares of Dangote and Otedola in Bluestar.

@angel101

I think you should be the one to check your friend MILITIA cos these bogus stories are just too ridiculous. The amount stated was $40 million Naira. What kind of ridiculous figure is that?

Make MILITIA stay one place O! It's either it's $40 million or 40 million Naira. They don't meet halfway.

@TayoD

please could you explain that surplus? I'm interested in learning new things. Explain how refusal of OPEC to sell oil to the US will lead to surplus and reduction in crude oil prices.

A mere announcement by OPEC that it may stop selling crude to the US will send crude prices spiralling above $100/barrel. That is just an announcement, let alone when it is effected.

OPEC will not have any problems with the EU and the EU will not want to have any problems with OPEC.

So please, I'd like to hear this whole "syrplus" theory.

There is perfection almost everywhere except in Africa. Please you guys should drop that "no man is perfect" creed.

Men are perfect. I cannot work with anyone who does not believe in perfection. Every Nuclear Power Plant running in the world today is still there because of human perfection.

The earlier we begin to imbibe perfection the less all these foreign companies will need to bring in expatriates to Nigeria.

There are things I can do perfectly and I believe there are things that a lot of people can do perfectly only if they believe in perfection. Perfection is the key.

While some societies and organizations are trying to maintain perfection and excellence, we Nigerians are claiming that it can't be achieved.

There is no party on earth that's worth $40 million. I've been planning parties since I was 15 years and The only plan I know of a $40 million is one held mid air.

The legendary music produces L.A Reid hosted a Super Sweet 16 Party for his son which was aired by the MTV network. It is ranked as the most expensive ever and it cost a whopping $1.5 million. How the hell are Alams and his ugly daughter can host a $40 million graduation a the worlds who is who was not there.

@watchung

all join O!

@okei

the FGN is not a commercial enterprise.

@debosky

well, let me see how they would sabotage the refineries now that they would be in the hands of shrewd businessmen like themselves. Maybe dem go decide to go plant bomb for there. For their own refinery.

Venezuela too is a member of OPEC.

Lucky finished Edo State. For the state capital to be trying to be like Agege in Lagos, then imagine what the rural areas will look like.

I'm glad I experienced it all if not I wouldn't have believed.

Ask me again.

Well, am April 27th

Dis Guy

there is no importer of Crude oil that wants to sabotage refineries. If the refineries are fixed and are producing at capacity, the importers will become marketers and distributors. When more refineries come in, the importers will become exporters to neighbouring countries.
THERE IS NO NEED FOR IMPORTERS TO SABOTAGE!

I just Want to know the extent of this your "experience" of Ifa system of worship.

@TayoD

Today there is a scarcity (excessive demand over supply) of Petroleum Products. Countries such as India and China are not looking to buy a specific amount of Crude but as much as they can stock up. If OPEC countries refuse to sell to the US, the US will begin to make more demands on non-OPEC than usual and thereby compete with the regular customers of the non-OPEC Countries. This sharp rise in demand will not be met.

So while the OPEC countries will be selling to Countries that have always wanted to buy more, the US will be buying more from non-OPEC countries who are already producing crude at their maximum capacity.

SO NOW PLEASE, CAN YOU EXPLAIN HOW YOU EXPECT THIS STANDOFF TO RESULT IN SURPLUS?

It was you who claimed that refusal of OPEC to sell oil to the US would cause some kind of surplus.

The spare parts should be sold as scrap iron to Ajaokuta Steel because if they were useful, they would have made the refineries work since.

I know for certain though that the Kaduna Refinery as it is today, is not worth $160 million.

Correction: Bluestar bought more than 80% of one of the refineries. But that still is extremely expensive.

Kupolokun is dull. Very, very dull.

That's why I believe that if the government is telling the truth, then somebody should go to jail.

It's unfortunate that planes crashed into the WTC it's not the designers' fault. But that the building collapsed of a plane crash when they had made testaments that it couldn't, that's plain criminal.

Well, thank God during the LA Riots the US did not split into two.

Russia should not react to these people. UK is too small jare. They should leave them. They should close the embassy in the UK and dedicate their Paris office to have a small UK department.

Riot dey break out you dey talk one Nigeria. Oya, go chook head.

Everybody that doesn't belong there should pull out now before they redirect their frustrations.

Any Southerner that is killed there should have themselves to blame. This should be enough warning. "It" is about to begin.

But then, if you remember, they did consider the fuel from the planes being dumped into the building causing a fire. Didn't we read this up earlier?

See, the best thing the NIST and the US Government can do is to to declare the collapse of the WTC on the 11th september 2001 as the 8th wonder of the world.

Imagine the US Senate trying to force an OPEC country such as Nigeria to increase capacity. Nigeria that would do anything to increase crude capacity is now being threatened. I wonder if it is that threat will end the strife in the Niger-Delta.

Executions should continue all over the world. Treason, espionage, economic sabotage, pedophilia, rape, arson, maiming and even murder.

We can't be spending National Income housing, feeding and taking care of these rats.

Definitely, the Nigerian factor along with monopoly, 140 million customers and increase in fuel price will be enough for them to rake back their investments in one year. But foreign investors cannot understand this. So they can't see why they should buy these refineries at those prices, especially when they are not in working conditions.

@davidylan

I only corrected the mistake you made about Chevron and also went further to show you other top Petroleum Producing companies that were not of the US.

@TayoD

I am the one who should ask for lectures from you on how the refusal of sale to the US but rather to the 2 other major oil producers will cause a surplus.

And need I remind you that OPEC has no issue with the EU and will even get more support from the EU when it concludes plans to start selling crude in the euro ( ). This will solidify that currency and make it the most valuable in the world. So the EU has no problem with us at all.

@youngies

Why don't you find out how much a 100,000 bpd refinery cost, let alone one which is not functional and you will realise why nobody wanted to buy the refineries years after they were put on the market.